Towards this end, Nepal Government is currently preparing a 25-year plan called ‘Long Term Vision of Nepal’ to transform the country into a ‘developed nation’ by 2043.

Nepal Planning Commission (NPC) has already prepared a concept note and also held discussions with the federal and provincial governments’ officials last week.

“The vision paper is being drafted to give the country a clear direction in achieving the long-term goal of prosperity for the people after the country gained political stability with the elections last year. The main goal of the vision paper is to achieve minimum level of development to be recognized as a developed country by 2043,” said NPC Vice-Chairman Pushpa Raj Kadel.

Besides the Long Term Vision, NPC is also working on a new five-year periodic plan for implementation from the coming fiscal.

While Nepal’s per capital income stands at USD 1,012 currently, the vision aims to double it in the next five years.

In line with this, the ruling government is considering the current fiscal as the foundation year for the country’s future economic prosperity. Government is aiming at an 8 percent economic growth rate in the current fiscal and plans to double it over the coming five-year period.

Under the vision, the country aims to zero-down poverty level, achieve per capita income at the level of industrial economies and ensure employment for nearly 40 percent of population belonging to lower income category.

Besides, the vision also aims to:

• Improve living standards of the populace
• Ensure quality health care
• Bring in modern infrastructure
• Commercialize agriculture sector
• Achieve gender equality
• Ensure balanced conservation of natural resources and their utilization for income generation
• E-Governance, among others

“We plan to publish the vision paper along with the five-year plan before the end of the current fiscal year,” informed Kadel.

In line with development agenda, the government has also paid high regard to infrastructure and other aspects of local development in the Federal Budget.

The post Nepal Eyes ‘Developed Country’ Status by 2043 appeared first on Nepali Sansar.

Besides this, nearly 75 houses in Aitabare area received electrification, prior to which residents suffered in the absence of a central transmission line.

The project was funded by the Asian Development Bank, Alternative Energy Promotion Centre and the District Coordination Committee who contributed Rs 14.5 million, Rs 1.6 million and 600,000, respectively.

Speaking at the inaugural ceremony, Energy, Water Resource and Irrigation Minister Barsaman Pun said that the distant areas which do not have access to the central transmission line will be put in touch with solar energy.

Pun also added that the Nepal Government has put supply of drinking water and irrigation facilities on top priority.

Talking about future plans, he said that the formation of the Federal Government has paved way for energy tie-ups with China and Bangladesh.

There are many hydropower and renewable energy projects that are already initiated with small and large scale firms in Province 1.

Member of National Planning Commission Dr Krishna Prasad Oli, Executive Director of Centre Nabaraj Dhakal and Member of House of Representatives Ghanshyam Khatiwada, also shared their views on development prospects with the help of solar energy.

Conclusion:
It is said that big changes begins with a small step. We hope that projects such as these pave the way for the overall development of Nepal.

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The master’s degree program, a joint initiative of KU and the Institute for Integrated Development Studies in Dhulikhel, will be incorporated in humanities, management and law departments, effective from 2019. 

Speaking at the launch event, experts from various backgrounds expressed their opinions on the proposed program. 

In his address, Dr Mohan Man Sainju, former Vice-chairman of Nepal Planning Commission (NPC), said the local resources should be used accordingly and courses of this kind engage youth in policy making. 

Meanwhile, former Health Minister Gagan Thapa said there has been a need for interdisciplinary approach in social sciences and hoped that the program would fill the existing gaps and produce better policy makers to the nation.   

The local governments are in dire need of manpower with knowledge of public policy making. Local bodies should encourage their employees to study public policy, says Gagan Thapa. 

Lauding the initiative, the US Ambassador to Nepal Alaina B Teplitz also opined that the initiative would improve public policy dialogue in the country.  

 “Good public policy helps leaders to take better decisions,” she said, adding improving governance would is also an art that determines the country’s future. 

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Out of the required annual investment of USD 17 billion, public sector is expected to hold a major share of 51 percent leaving 21 percent contribution to the private sector and the remaining share to NGOs, households and cooperatives.

Majority of the public investment is expected to be allocated to poverty alleviation, agriculture, health, climate change, water and sanitation, education, transport infrastructure and governance.

Meanwhile, the private sector investment will be made for industry development, physical infrastructure, housing, urban infrastructure, tourism and energy sectors.

“But, the government’s revenue and private sector investment will not be sufficient to attain SDGs by 2030, requiring huge amount of foreign aid,” noted the report.

SDGs, a follow-up to the Millennium Development Goals (MDGs) that expired in 2015, include a set of 17 goals and 169 targets involving a broad range of development issues such as fighting poverty and hunger, health coverage, gender equality, quality education, and all aspects of inclusive and sustainable development.

SDGs Status As of 2017

NPC’s National Sustainable Development Review Report 2017 reported significant progress in few of the country’s SDGS up to June 2017.

Poverty (SDG 1): The percentage of Nepali citizens below poverty line has declined from 38 percent in 2000 to 21.6 percent in 2015.

Hunger and Nutrition (SDG 2): NPC reported Nepal’s significant progress in reducing hunger, achieving food security and improving nutrition. Proportion of underweight children, prevalence of stunted children, among other relevant indicators have registered a decline over the last 10 years.

Health and Wellbeing (SDG 3): Nepal has also seen a significant progress in addressing health concerns among its populace. The country achieved a gradual progress in controlling infant mortality rate (64/1000 live births in 2000 to 32 in 2016), number of pregnant women going for antenatal checkups by skilled workforce, proportion of births in health facilities, among others.

Gender Equality (SDG 4): Nepal saw a notable development in terms of ensuring gender equality and women empowerment. A significant improvement in gender parity can be observed across the education institutions, among other areas across the country.

Inclusive Industrialization (SDG 5): Infrastructure development has seen a significant traction in Nepal over the past few years, which is evident in country’s road, rail, air, tourism, communication, industry infrastructure facilities.

Means of Implementation (SDG 17): The report noted a concern in the availability of resources to finance the achievement of SDGs. Highlighting the role of adequate finance, technology, institutions, capacity and partnership vital for SDGs, the report also indicated a positive growth in terms of partnerships among private players, cooperatives, civil society, development partners and the international community for achieving sustainable development.

Need of the Hour

Towards addressing the existing concerns and achieve SDGs, NPC suggests the country to have strong governance across federal, provincial and local levels.

The Planning Commission also suggests macroeconomic policy reforms for economic growth and bringing in a balance among the poor and marginalized communities.

Pitching on the need for effective management of resources needed for achieving SDGs, the Commission suggests the government to prioritize interventions based on fiscal, financial, managerial, technological, institutional and other capacity constraints.

NPC also suggests the Government of Nepal to design sectoral plans and long-term strategies in line with SDGs, and also integrate SDGs across all levels of Nepali society.

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According to the Ministry of Finance (MoF) Nepal, the revenue collection over the next fiscal is expected to see a 30 percent rise standing at around Rs 950 billion, around Rs 220 billion more than the current fiscal target of Rs 730 billion.

According to Finance Secretary Shankar Prasad Adhikari, this target can be achieved through control of under-invoicing practice and boosting inland tax revenues such as Value Added Tax (VAT) and Income Tax (IT).

“The target is quite ambitious, but if we’re able to control under-invoicing, we’ll be able to achieve it,” says Shankar Prasad.

The government is also planning to increase revenue generation through domestic debt to Rs 153 billion from the previous year’s revenue of Rs 145 billion.

“If the economy grows by six per cent this fiscal, we can easily raise Rs 153 billion through domestic debt, which is an ideal ratio of domestic debt to gross domestic product,” says Prasad.

Besides, the Finance Ministry is also expecting Rs 17 billion surplus revenue from the unspent budget of the current fiscal.

Apart from this, the government’s reliance on foreign aid for grants, loans and technical assistance for budget financing is expected to touch the Rs 450 billion mark.

Substantial Rise in Foreign Aid

The government’s dependence on the foreign funding is expected to see a substantial rise in the coming fiscal to meet the domestic development needs across provinces and local bodies.

Towards this end, the government is planning to welcome around Rs 286 billion as foreign investment.

The current fiscal saw a budget allocation of Rs 232 billion with Rs 225 billion for local bodies and Rs 7 billion for provincial levels.

The new Nepali Government, yet to be formed, will undertake the formulation works of new budget for 2018-19 fiscal.

The initial estimation of the federal budget for the 2018-19 fiscal is yet to be presented at the Resource Committee meeting led by the Vice-Chairman of the National Planning Commission (NPC) of Nepal.

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The program, organized in collaboration with the Embassy of Republic of Korea (RoK) in Nepal, witnessed the participation of various representatives from the concerned organizations.

Speaking on the theme, “Role of private sector for sustainable development”, the representatives stressed on the need for public-private partnership for achieving SDG goals of Nepal.

Global Compact Nepal Vice-Chair Pradeep Vaidya called for public-private partnership for progress in Nepal’s SDG targets.

Highlighting the role of private sector, the representatives called for the creation of investment-friendly environment for the private sector to contribute to the country’s efforts to alleviate poverty.

While stating that Nepal holds good potential in various sectors such as agriculture, among others, the participants urged on the need for drawing foreign investment in Nepal.

In his address at the program, the National Planning Commission Vice-Chair Dr Swarnim Wagle informed that the local governmental policies and regulations are also in line with the Nepal’s UNSDG goals.

“Nepal has witnessed significant improvements in the areas of health and education in the recent years and the government is doing a role of facilitator to promote domestic and foreign investment in big projects,” he added.

Meanwhile, the Secretary at the Ministry of Industry Yam Kumari Khatiwada informed that the government has created a friendly environment to ensure skill development and employment at home.

RoK’s Ambassador for Nepal Park Young-Sik felt agriculture, tourism and hydropower sectors are key for Nepal’s SDGs.

UNDP Resident Representative in Nepal Valerie Julliand called for special focus on economic growth for attaining SDG goals.

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The three-day summit, to be held during November 14-16, 2017, is expected to witness a participation of more than 200 delegates, including Members of Parliament, ministers, senior government officials, planners and leading think-tanks and researchers from South Asian countries.

The main theme of the SAES 2017 is to strengthen economic stability in the sub-region for the inclusive and sustainable development, informed a press release by the National Planning Commission (NPC) Nepal.

NPC Nepal and the Ministry of Commerce, Government of Nepal are jointly organizing the summit in collaboration with the South Asia Watch on Trade, Economics and Environment (SAWTEE).

SAES 2017 will have 18 different sessions that would discuss wide range of topics including employment generation, trade facilitation, climate change, international labor migration, regional trade and tie-ups in power trade, measures for disaster management and Intellectual Property (IP) issues related to herbs, among others.

This regional economic platform has been successfully addressing various key issues and developmental challenges of South Asia and has emerged as an effective medium for regional integration and economic collaboration, says the Vice Chairman of National Planning Commission Swornim Wagley.

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The President of Nepal Bidya Devi Bhandari, Deputy Prime Minister Krishna Bahadur Mahara, officials of the National Planning Commission of Nepal and other key officials from NRNA and the Federation of Nepalese Chambers of Commerce and Industry inaugurated the event on October 14, 2017.

The four-day event, being held from October 14-17, 2017, has brought together 70,000 Nepalis living in 77 countries and is witnessing a participation of more than 2,000 delegates.

The Nepal Tourism Board (NTB) is the Promotional Partner for the event that is being supported by various other stakeholders and associations.

Event Date and Time:
Date: October 14-17, 2017; Time: 10 AM – 6 PM

Location:
Kathmandu, Nepal

Contact Info:
NRNA Global
Shahid Shukra FNCCI Milan Marg Teku, Kathmandu, Nepal
Phone: (+977-1) 4215247, 4262255
Email: info@nrna.org

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The President of Nepal Bidya Devi Bhandari called on the Non-Resident Nepali (NRN) community to invest and play a key role in the country’s overall development.

“Following the promulgation of the constitution, Nepal is entering a phase of economic development and Non-Resident Nepal Association (NRNA) should be a part of it. There is favorable atmosphere for investment in tourism, hydropower, education, health and infrastructure in Nepal,” said the President on October 14, 2017.

Bhandari stated this in her inaugural address at the ‘8^th NRN Global Conference and NRNA International Assembly, currently being held in Kathmandu.

Highlighting Nepal’s potential in education, hydropower, tourism and manufacturing, among other sectors, the President said, “This is the appropriate time for NRNs to make contribution by bringing in investment, skill and technology.”

The President also appreciated the non-resident Nepali community’s contribution to relief, rescue and reconstruction measures post the 2015 earthquake, landslides and recent floods in August 2017 that hit the country very badly.

Meanwhile, the Deputy Prime Minister and Minister for Foreign Affairs Krishna Bahadur Mahara called on the community to play a key role in exploring and expanding markets for trade abroad.

“The knowledge, skills and capital gained abroad should serve as the catalyst for Nepal’s development,” said Mahara.

The event, being held from October 14-17, 2017, has brought together 70,000 Nepalis living in 77 countries and is witnessing a participation of more than 2,000 delegates.

The new NRNA leadership for the upcoming two-year period will also be announced at this four-day event.

Right Time for Investment

In her address, Bhawani Rana, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) also termed this as the right time for investment in Nepal.

Citing key happenings such as local elections, amendments to key provisions such as company and labor acts Rana said, “These developments have reduced the cost of doing business in the country. This is the right time for the investment.”

“Investing for the prosperity of Nepal by utilizing the hard-earned capital and skills abroad was one of the prime objectives of NRNA,” Shesh Ghale, NRNA President said in his address.

Pitch for Rise in NRN’s Investment

Addressing a plenary meeting titled ‘Nepal Vision 2030 and NRNA’s Role’, post the inaugural session, Swarnim Wagle, Vice-Chairman of National Planning Commission of Nepal sought a phenomenal rise in NRN’s investment above the existing level.

A 2015 survey, commissioned by NRNA and undertaken by the Society of Economic Journalists-Nepal (SEJON), puts NRNs’ investment in Nepal at Rs 29.85 billion across the country’s nine districts and also highlights their 67 business ventures that generated employment to 8,276 Nepali citizens.

The survey reports around three-fifth of NRNs’ investment in Nepal in the services sector alone. However, the NRNA President Ghale says the actual investment would be higher than the surveyed figure and is spread across the 75 districts of the country.

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