Kathmandu: The recent political upheaval in Nepal has prompted business leaders to call for improved security measures to protect property and support economic development. Hemraj Dhakal, Vice President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), voiced his concerns during a program organized by journalists of the economic beat in Kathmandu. Dhakal emphasized the need for safety assurances for businesspersons willing to contribute to the nation’s development, reflecting a broader sentiment of determination mixed with skepticism among industrialists.
According to National News Agency Nepal, the protests that erupted on September 8, led by Gen-Z, initially aimed at demanding good governance and the lifting of a social media ban, turned violent, resulting in significant loss of life and property. The scale of devastation over just two days marked a dark chapter in Nepal’s sociopolitical and economic history. The anti-corruption demonstrations led to the ousting of Prime Minister KP Sharma Oli and the establishment of a new government under former Chief Justice Sushila Karki, with new elections scheduled for March 5.
The political turbulence also saw President Ramchandra Paudel endorsing the dissolution of the House of Representatives (HoR), a decision that faced backlash from political parties. President Paudel defended his actions as necessary to preserve the constitution and urged political parties to regain public trust and cooperate in ensuring successful elections. In a press statement on September 13, he called for restraint and collaboration among political entities.
In the aftermath of the unrest, Nepal commemorated Constitution Day on Asoj 3, with political parties and government officials, including President Paudel and Prime Minister Karki, making special remarks. While President Paudel stressed the need for cooperation, Prime Minister Karki highlighted bad governance as a contributing factor to public discontent. Political leaders celebrated the constitution’s features but acknowledged past failures in its implementation.
The Gen-Z protests underscored widespread frustration with bad governance, corruption, and systemic issues perpetuated by political elites and their associates. Despite advocating democracy and progressive principles, political parties have strayed from their ideologies, leading to entrenched corruption and favoritism. Nepotism, a key target of the Gen-Z protests, has fostered a climate where cartels thrive, and small businesses and honest individuals are marginalized.
An article by The Financial Times quoted author Amish Mulmi, who remarked on the state’s unresponsiveness to citizens’ concerns and the political elite’s perceived invulnerability. Despite facing a trust deficit, political leaders remain convinced of their relevance, while younger party members criticize their leadership’s effectiveness.
As Nepal navigates its political challenges, there is a pressing need for political parties to embrace democratic practices, correct past mistakes, and collaborate with the government to ensure economic recovery and good governance. The focus must shift from contesting the HoR dissolution to addressing critical issues such as elections, economic revival, and maintaining peace and security.