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<p>Speakers at a panel discussion jointly organised by Society of Economic Journalists-Nepal (SEJON) and the World Bank in the capital on Tuesday, March 13 said that there is an urgent need to change Nepal’s development model to make sure that opportunities for faster growth and poverty reduction are not missed.</p>
<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
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<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
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<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
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<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
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<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
<p>Shankar Prasad Adhikari, secretary at the Ministry of Finance, said that the SCD report could become a good reference for the government in aligning its development plan and programs in the days to come.</p>
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<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
<p>Shankar Prasad Adhikari, secretary at the Ministry of Finance, said that the SCD report could become a good reference for the government in aligning its development plan and programs in the days to come.</p>
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<p>Speakers at a panel discussion jointly organised by Society of Economic Journalists-Nepal (SEJON) and the World Bank in the capital on Tuesday, March 13 said that there is an urgent need to change Nepal’s development model to make sure that opportunities for faster growth and poverty reduction are not missed.</p>
<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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March 15: Experts and stakeholders have said that a new and different approach is needed for the country to accelerate the economic growth and reduce poverty.
Speakers at a panel discussion jointly organised by Society of Economic Journalists-Nepal (SEJON) and the World Bank in the capital on Tuesday, March 13 said that there is an urgent need to change Nepal’s development model to make sure that opportunities for faster growth and poverty reduction are not missed.
“At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.
The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.
“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.
Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.
Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.
Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.
THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH
Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.
“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.
The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.
The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.
As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.
“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.
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Shankar Prasad Adhikari, secretary at the Ministry of Finance, said that the SCD report could become a good reference for the government in aligning its development plan and programs in the days to come.
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<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
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<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
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<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
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<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p>Speakers at a panel discussion jointly organised by Society of Economic Journalists-Nepal (SEJON) and the World Bank in the capital on Tuesday, March 13 said that there is an urgent need to change Nepal’s development model to make sure that opportunities for faster growth and poverty reduction are not missed.</p>
<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
<p>Shankar Prasad Adhikari, secretary at the Ministry of Finance, said that the SCD report could become a good reference for the government in aligning its development plan and programs in the days to come.</p>
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<p>Speakers at a panel discussion jointly organised by Society of Economic Journalists-Nepal (SEJON) and the World Bank in the capital on Tuesday, March 13 said that there is an urgent need to change Nepal’s development model to make sure that opportunities for faster growth and poverty reduction are not missed.</p>
<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
<p>Shankar Prasad Adhikari, secretary at the Ministry of Finance, said that the SCD report could become a good reference for the government in aligning its development plan and programs in the days to come.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
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<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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<p> “At this historic moment in Nepal, there is a need for new approach to achieve faster progress,” SEJON quoted Ruth Hill, a co-author of ‘Nepal Systematic Country Diagnostic’ report by the World Bank which was unveiled on the program, as saying.</p>
<p>The report also calls for the departure from the ‘business-as-usual’ approach that will not address the inequalities, reduce poverty rapidly and create enough employment opportunities in the country to achieve the faster economic growth, SEJON said in a statement.</p>
<p>“The private-public partnership is going to be critically important as the government cannot alone make the huge investment needed in the country. The government should join hands with the private sector for development,” said Suraj Vaidya, president at the SAARC Chamber of Commerce and Industry.</p>
<p>Jeewan Bahadur Shahi, a member of provincial assembly of Karnali, said that the inequality between the provinces should be addressed. “The first step for addressing the inequality between the provinces is to distribute the resources from the central government in an equitable way,” he added.</p>
<p>Kewal Prasad Bhandari, a join secretary at the Ministry of Finance, said that focus should be on the agricultural development as the country may not be able to immediately compete in manufacturing sector with China and India.</p>
<p>Min Bahadur Shrestha, former Vice President at National Planning Commission, said that the government should facilitate in attracting private sector investment, both domestic and foreign investments, to create mass-scale employment opportunities.</p>
<p>THE WORLD BANK RECOMMENDS SIX ACTIONS IN NEW APPROACH</p>
<p>Among other, the SCD report pointed out the six areas where action is required to take advantage of opportunities for growth and poverty reduction, to address sources of fragility, and to reduce vulnerability. The SCD report has said that there is a need of encouragement of political inclusion and eliminating ‘clientelism’.</p>
<p>“The current transition to federalism is a potential game changer if it is accompanied by a meaningful change in the balance of power,” said Hill, adding that real progress in this area of action is not only important but also very possible. Another areas of action recommended in the report is private sector investment. According to the report, addressing constraints to private investment is essential for individuals to become more productive employees and entrepreneurs.</p>
<p>The report has also recommended the need to harness the potential of natural resources. Stating that the constraints to private investment are apparent in natural resource development, it said that unlocking such constraints means getting more from natural resources which will improve employment for the many and have spill-over effects into other sectors.</p>
<p>The World Bank report also called for addressing the barriers to health posed by remoteness, low income, and norms to ensure that all Nepalis are equally able to invest in and use human capital. “Improving inclusion in acquisition and use of human capital is not only important for taking advantage of opportunities for growth and poverty reduction, it is fundamental to addressing source of fragility,” reads the report.</p>
<p>As the progress in the country has often been set back by natural disasters, the report said that there is a need to increase the resilience to natural disasters and health shocks.</p>
<p>“Resilience is built both by reducing exposure to risk and strengthening coping mechanisms for when shocks do occur,” the report states.</p>
<p>From migration, Nepal can get more than remittances, according to the SCD report. One of the ways is to tap in the capital and skills that returnees bring, said the report. “Getting more from migration entails addressing constraints remittance recipients and migrant returnees face in pursuing entrepreneurial investments,” the report added.</p>
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