KATHMANDU: The Asian Development Bank today appealed to Nepal’s government and warring political parties to draft a constitution at the earliest to ensure stability and economic development.
“It is very important for Nepal to draft a constitution based on the ideas of the people at the earliest,” ADB President Takehiko Nakao who is here for an official visit said during his meeting with Nepalese political leaders, including Prime Minister Sushil Koirala.
He also called on the leaders to ensure integrity and coordination among different political groups while drafting the constitution.
“Democracy is an integral part of economic development, according to a statement released by the Manila-based ADB.
“Nepal’s efforts to strengthen democracy through restoration of peace should make every Nepali very proud,” he noted.
“It is my hope that the new constitution will be enacted soon, paving the way for lasting peace, stability and economic development,” he said while addressing a press meet in Kathmandu
He also praised the government’s ambitious economic reform programme to attract private sector investment and emphasised that effective implementation of these reforms is crucial for Nepal to achieve its economic growth potential of 7 to 8 per cent per annum, substantially higher than the 4 per cent average annual rate achieved in the past decade.
He also commended the government’s recent announcement that it will prepare a ” Nepal Development Vision 2030″ strategy and a medium-term development plan to reach middle-income country status.
“The strategy will help the government prioritise public investment in key sectors such as energy, transport, and agriculture, improve education, governance and the business environment, and promote competitive manufacturing industries.
He said that ADB is considering to increase its assistance to Nepal to USD 1 billion for the next three years period.
He said that the ADB wants to work in partnership with Nepal in developing large and medium term hydropower and important tourism projects.
Nakao also met Finance Minister Ram Sharan Mahat and Governor of Nepal’s Central Bank, Nepal Rastra Bank, Yuvaraj Khatiwada.
This is the first visit to Nepal by Nakao, who was also the former Vice Minister of Finance for International Affairs of Japan, after assuming the new office in April 2013.
Nepalese political parties are seriously divided mainly over four issues of the new proposed Constitution that include forms of governance, names and number of federal units, electoral system and judicial system.
The political parties in Nepal had set a January 22 deadline to draft a constitution so as to in ..
The political parties in Nepal had set a January 22 deadline to draft a constitution so as to institutionalise the achievements of the Peoples Movement of 2006. However, they failed to meet the deadline. (PTI)
Comment here !
By Prakash Silwal, KATHMANDU:- Chairperson of CPN UML KP Sharma Oli has called for concluding the 10th National Congress of
KATHMANDU:- Former prime minister and senior leader CPN (Unified Socialist), Jhalanath Khanal, has said socialism could be achieved by developing
By Sharachchandra Bhandary, KATHMANDU:- The 40th plenary meeting of the 76th Session of the United Nations General Assembly (UNGA) unanimously
CHITWAN:- Chairperson of the Janata Samajwadi Party Nepal, Upendra Yadav, said that the executive should not interfere in the judiciary.