Kathmandu: Deputy Prime Minister and Minister for Urban Development, Prakash Man Singh, has emphasized that political stability is a prerequisite for economic transformation. During an interaction organized by the BP Thoughts Foundation on ‘Nepal’s Economic Transformation: Challenges and Opportunities,’ DPM Singh highlighted the importance of safeguarding current achievements to ensure economic growth and prosperity.
According to National News Agency Nepal, DPM Singh pointed out that without economic prosperity, development remains stagnant. He noted that the existing political system, which prevents any single party from securing a parliamentary majority, necessitates coalition governments. He underscored the need for collaborative alliances in line with the times.
DPM Singh also recalled the late Ganesh Man Singh’s strategy of uniting multiple parties to address national issues and restore democracy in 2046BS. He stressed that adherence to systematic political processes by parties is crucial for achieving stability and strengthening the national economy. Additionally, he paid homage to BP Koirala, the founder of democratic socialism in Nepal, asserting that the Nepali Congress (NC) has not compromised its democratic values and principles despite criticisms.
On the same occasion, NC leader and National Assembly member Krishna Prasad Paudel remarked that the Nepali Congress adopted a liberal economic policy after the restoration of democracy in 2046BS. This policy, he argued, laid the groundwork for private sector development, significantly contributing to the national economy. Paudel urged the government and major political parties to eliminate legal obstacles hindering capital expenditure.
Chairman of BP Thoughts Foundation, Haribol Bhattarai, reiterated the necessity of economic reforms to liberate the country from poverty and backwardness.