Nepal’s Economy Depleting Biplav Man Singh

Nepal is on a roll when it comes to the trade deficit. The inequality among imports and export is substantially worse, therefore the increase in production must take place in order to revive the economy of Nepal. But production takes a lot of expenditure due to problems in the labor sector and inadequate capital.

Due to such circumstances, the production of Nepal is not capable enough to compete in the market. As a matter of fact, the increasing cost has made it hard for the laborers to maintain their survival and its quite legit that demand for salary increment is arising, As of now these obstacles will create a significant increase in factory costs which is not affordable according to the economy and for these very reasons some industries are in the verge of shutting down.

Constant regulated hydropower system could have very well reduced the investment cost, but this is also out of reach for the present time. Over the years Indian workers are also going abroad due to a lack of skilled manpower. Therefore to obtain stable economy industrial sectors are not much help. Although, the stability of the economy might just be possible through the knowledge-based service sector.

Biplav Man Singh, Chairperson
ICT Development committee
FNCCI