Economic Growth and The Private Sector of Nepal

Written by established experts and edited by Mr. Prateek Pradhan , this book is a collection of eleven articles highlighting Nepal’s possibilities and problems in economic growth. These articles examine topics such as fiscal and monetary policies, export diversification, competition, democracy and economic growth, financial markets, trade agreements, investment environment, foreign employment and remittance. It puts special focus on the policy angles involved in all these issues. 

These articles are written not only by government officials and bureaucrats but also the members of the business community, journalists and academicians to help analyze and understand the economic situation of Nepal through a diversified lens.

Articles and contributors: 

1. Resistance to economic reforms, How it weakens democracy ?

- Prem K. Khanal

2. Macroeconomic stability, A new approach for fiscal and monetary policy

- Dr. Dandapani Paudel

3. Stability, prosperity and equality, Development agendas for the new Nepal

- Durga P. Paudyal

4. Tourism policies to augment economic growth

- Dipendra Purush Dhakal

 5. Growth through private sector-led hydropower

- Er. Gyanendra Lal Pradhan

6. The weaker competitor How poor liability management make SOEs weak competitors ?

- Rameshore Prasad Khanal

7. Financial market openness and capital flows

- Siddhant Raj Pandey

8. Nepal’s development from a regional perspective

- Dr. Jagadish C. Pokharel

9. International Market Access Where we stand ? What we need to do ?

- Ratish Basnyat

10. Nepal’s exports orientation Diversification and competitiveness

- Tarka Raj Bhatta

11. Nepal-USA trade and investment framework agreement (TIFA), How can it help revive Nepal’s trade with USA ?

- Shiv Raj Bhatta

About Contributors:

PREM K. KHANAL

Prem K. Khanal did his Master of Arts in Economics and Bachelor of Arts in Economics and History from Tribhuvan University. Currently, he is working as an Associate Editor at Republica English daily. He is also a lecturer at Himalayan Whitehouse College where he teaches Public Finance and Business Journalism to Undergraduate students. He has written ‘A Handbook for Business Journalists’ in 2010. He has also co-authored ‘Financing Education in Nepal, 2007, Action Aid International’.  Mr. Khanal has also undertaken research on various topics such as ‘Problems and Prospects of Reforms in Nepal (A case Study of Ten Different sectors), 2003 for The World Bank, ‘An Analysis of Public Expenditure in Nepal (With Focus on Key Issues), 2005, Action Aid Nepal’, and ‘A study on government Plans, Programs, and Budget Affecting Children in Nepal’ in 2002. He also completed a study on Economic Reforms in Nepal for National Endowment for Democracy.

Dr. Dandapani Paudel

An expert in the Macroeconomic analysis of Nepal, Economist Dr. Dandapani Paudel has not only served the Government of Nepal as a specialist in Macroeconomic Management and Inclusive Growth, but has also worked as Senior Macroeconomist with international organizations such as The World Bank, Asian Development Bank and others. Having worked as the Economic Advisor/Director of the Research Department of the Nepal Rastra Bank, the central Bank of Nepal, Dr. Paudel is currently the Professional Member of the Board of Directors, KIST Bank Ltd. He has also been a Professional Member of the Board of Directors of RastriyaBanijya Bank, Member of the Board of Directors of Nepal Stock Exchange Ltd. to name a few.

Dr. Durga P. Paudyal

An expert on local governance and decentralization, Dr. Paudyal has extensive research experience on rural development issues across the Asia-Pacific region. Besides offering consultation to various national and international organizations, he has worked as the Executive Director of Rural Self-Reliance Development Centre (1999-2004), Nepal. He was also a professional staff-member of Centre on Integrated Rural Development for Asia and the Pacific (CIRDAP) from 1986-1995. He has contributed a lot in the policy-making process of Nepal as a member of the High Level Decentralization Coordination Committee (1997) chaired by the Prime Minister of Nepal and also as a Member-Secretary of the High Level Committee to Strengthen Local Bodies (2003) constituted under the Chair of Minister of Local Development. Several papers and articles have been published to his credit, in both Nepali and English, in leading national and international newspapers and journals. Dr. Paudyal assumed the position of the Director General of CIRDAP from 6 July 2004.

Dipendra Purush Dhakal

Dipendra Purush Dhakal has held several key positions in the government of Nepal. He has remained the Secretary of Ministry of Tourism, Culture & Civil Aviation and has also served as the Governor of Nepal Rastra Bank, the Central Bank of Nepal. He has worked as a consultant with various national and international agencies, including being a Team Leader of the Economic Policy Network that was developed to facilitate a network for economic policy dialogue and analysis and undertake policy research and analysis, and information dissemination on several policy issues. 

Er. Gyanendra Lal Pradhan

Er. Gyanendra Lal Pradhan, Chairman Executive at Hydro Solution, is an Electrical Engineer by training. He is also the Executive member of Independent Power Producers Association, Nepal (IPPAN), Federation of Nepalese Chambers of Commerce & Industry (FNCCI), Nepal Russia Chamber of Commerce &Industry (NRCCI), Nepal German Chamber of Commerce & Industry (NGCCI), Nepal China Chamber of Commerce & Industry (NCCCI) and SAARC Chamber of Commerce & Industry (SAARC CCI). Er. Pradhan is has received various awards and recognitions for his contributions to the field of hydropower and clean energy, recent one being Best Entrepreneur Award by Nepal Engineers’ Association in July 2011 and HYDRO Nepal Excellence Award in Energy (Hydropower) for the year 2010 for his outstanding performance and untiring, tenacious and entrepreneurial efforts in hydropower and energy development in Nepal.

Rameshore Prasad Khanal

With more than 31 years of experience in civil service, Rameshore Prasad Khanal sought voluntary retirement from service of the Nepal Government to be active in teaching, social service and work as development missionary. At the time of his retirement, he was a Finance Secretary, a position which he held for nearly three years. He led the team to introduce reforms in government accounting and reporting, public procurements, tax policy and administration. He served as a Chairman of the Board in Agricultural Development Bank and was in the Board of Directors in Nepal Rastra Bank, RastriyaBanijya Bank, Nepal Telecom Company and Nepal Airlines. He was also the Council member and Executive Committee member of the Institute of Chartered Accountants of Nepal for four years. He led Nepalese delegations in a number of bilateral economic cooperation consultations with foreign governments. Also the Alternate Governor for Nepal in the World Bank and Asian Development Bank, he was Political Focal Point for Nepal in Global Environment Facility. Mr. Khanal has a teaching experience of over 16 years in different academic institutions.

Siddhant Raj Pandey

Siddhant Raj Pandey is the Chief Executive Officer (CEO) of Ace Development Bank. Chosen as the “Top CEO” of 2006 by a business publication based in Kathmandu, The Boss, he has worked in a number of organizations in several positions such as CEO of Trinal Management; Director of RIGGS Bank, London and Vice President (Financial Consultant) of Merrill Lynch International Bank, London. Besides this he has also worked at Food and Agriculture Organization, Alliance International, Nepal Arab Bank Ltd. and in the marketing and the business news divisions at Bloomberg Financial Markets, London and New York. He received his Bachelor’s Degree in Business Administration and History from Virginia Tech in USA and a Master’s in Science in Development Studies (Economics & Policy Management) from University of Bristol, United Kingdom. He has also attended a Summer Executive Programme in International Finance for Executives at London School of Economics and has won several accolades such as the ‘Rastriya Sanskriti Award 2007 and National Youth Award 2009. He has published several publications on economic liberalization and banking and finances.

Dr. Jagadish C. Pokharel

Dr. Jagdish C. Pokharel has held several high level public positions in Nepal such as the Vice Chair of the National Planning Commission. He was appointed the Chairman of the Commission twice, from April 2010 to March 2011 and April 2006 to April 2008. Before being appointed as Vice Chair of National Planning Commission, Nepal, Dr. Pokharel was Member of the same Commission for five years, from 1997 to2002. As an independent professional, Dr. Pokharel has provided consulting and advisory services to Nepal government and international agencies such as The World Bank, Asian Development Bank, UN agencies on environmental protection, evaluation, strategic planning, governance, decentralized governance and other related fields. Dr. Pokharel has taught for over 10 years in the Engineering Institute, Tribhuban University. He has published several articles and papers in daily news papers, conferences, journals and has published a book on the role of power in bargaining and negotiation. He is also the President of Center for Consolidation of Democracy, a national think tank institution established immediately after the 1990 democratic changes in Nepal.

Ratish Basnyat

Ratish Basnyat is the Deputy Director at Federation of Nepalese Chambers of Commerce & Industry (FNCCI) coordinating the Research, Information and International Relations Divsision of FNCCI. He is also the SAARC (South Asian Association for Regional Cooperation) Desk In charge wherein he coordinates SAARC Chamber of Commerce and Industries (SCCI) activities from Nepal. Similarly from FNCCI he is reponsible for coordination and execution of activities related to international organisations. He received his Masters of Arts (MA) in Economics with specialization in World Economy from Jawaharlal Nehru University (JNU), New Delhi and his undergraduate degree in Economics from Loyla College, Tamil Nadu, India.

Tarka Raj Bhatta

Tarka Raj Bhatta has been affiliated with the Government of Nepal as a Planning Officer in National Planning Commission since 2004. An expert in issues of Macroeconomic Management and Financial Policies, Mr. Bhatta received his Master’s in Economics from Ritsumeikan University, Kyoto, Japan and has presented papers in various national and international seminars in Intellectual Property and other related topics.

Shiv Raj Bhatta

Shiv Raj Bhatt, a National Program Manager at Nepal Enhanced Capacities for Trade and Development Project (NECTRADE) holds double masters in Economics (1992) from Tribhuvan University and in Development Studies, with specialization in Economics of Development (2001) from Institute of Social Studies (ISS). He has a decade long experience as a Lecturer of Economics. Previously he also worked as National Program Manager, Trade Policy Analyst and Program Officer at various United Nations Development Programme (UNDP) supported projects under the Ministry of Commerce and Supplies. He was a Research Economist at South Asian Watch on Trade, Economics and Environment and a Research Officer at Institute for Integrated Development Studies, Nepal. He has published more than a dozen research papers in national and international journals and more than 100 articles in national dailies, weeklies and online news magazines and worked as a Team Leader/Lead Researcher/Researcher on various studies conducted and published by the affiliated institutions.

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• Why blame private schools?

  by Surath Giri | 22 May, 2013

  Like an annual customary event, public grievances against private educational institutions in Nepal are currently making headlines once again as the new academic session has begun. Private schools have been accused of charging exorbitant fees, selling stationery and uniforms within the school premises to make profit and not providing adequate infrastructure.

• Last Thursday with Kamala Shrestha

  05 May, 2013

  Having got an opportunity to accompany her husband to a tour of Thailand some 35 years ago, Mrs. Kamala Shrestha was quick to realize an opportunity to introduce a new professional sector back in the country, after a quick environmental scanning during her stay. Surmounting the ubiquitous family and societal restrains in a typical Nepali society, Kamala Shrestha pioneered the profession of a beautician, and through her continual perseverance, she has successfully established the profession as a main-stream stake in the national economy, thus proving herself as an exemplary self-made entrepreneur.

• Missing the target

  by Koshish Acharya | 22 May, 2013

  National planning has, for a long time, been among the government’s favourite agendas. This can be traced back to the Rana period (before World War II) when the first 20-year plan was announced but nothing significant was achieved. Following that a 15-year plan implemented by the then Rana Prime Minister, Mohan Shamsher in 1949 for which a national planning committee was also formed.