Nepali Times Asian Paints
From The Nepali Press
Out of business, Karobar



The Jana Andolan in 2006 bought about massive political transformation and Nepalis hoped for a major economic overhaul and huge improvement in the business environment. However, the political deadlock has pushed the country's economy to an all time low.

In the last six years, the budget was never on time except during one fiscal year. The failure to announce the budget on time and the lack of full implementation of the budget have hurt the economy directly. The constant shuffle in the government and unfavourable policies have further dampened the business sector.

In the absence of proper policies, Nepal's business community continues to be the victim of rampant corruption and extortion. The Business Confidence Survey 2012 conducted by the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) showed political instability, energy crisis, strike, weak governance, labour, and financial problems as the major challenges of doing business in Nepal.

The Maoists started collecting large sums of money from business houses as 'donations' during the war. The practice continues unabated till this day. Countless underground outfits and many large and small political parties and their sister organisations have picked up on this habit and are bleeding the business community dry.

While the leaders are busy bickering amongst themselves, the economy has become a hostage to power politics and is falling apart with each passing day. Even when the government is trying to present a budget, the opposition is hell bent on preventing it.

When you add the perennial energy crisis to the mix, its not surprising to learn that the morale of the business community especially the industrial sector is completely shattered. If the political parties fail to lift the spirit of entrepreneurs through proper policies, Nepal's economy will come crashing down.



LATEST ISSUE
638
(11 JAN 2013 - 17 JAN 2013)


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