Nepali Congress Unveils Economic Policy Centering Private Sector as Growth Engine
The Nepali Congress has introduced a new economic policy that positions private investment, production, and employment at the heart of Nepal's economic transformation. Announced at the party's 15th General Convention, the policy calls for a shift from regulation to partnership with businesses, productive use of remittances, and a move toward a production-oriented economy.
KATHMANDU, Oct 4 — The Nepali Congress (NC) has unveiled a new economic policy that places private investment, production, and employment at the center of its strategy to transform Nepal's economy.
The economic agenda, announced during the party's 15th General Convention in Kathmandu on Sunday, was presented by NC leader Gagan Thapa. The policy identifies the private sector as the "main engine" of economic growth and calls for stronger cooperation between the government and businesses.
The report argues that the private sector should not be viewed merely as a source of tax revenue. Instead, it proposes shifting the government-business relationship from regulation and tax collection toward partnership and collaboration. According to the policy, private businesses should play a leading role in wealth creation, production, innovation, and employment generation.
The NC has also emphasized the need for policy stability and greater security for private investment to create a business-friendly environment. It proposes making production, enterprise development, and job creation the main priorities of economic policy.
Another major focus is the productive use of remittances. Rather than relying heavily on remittances for household consumption, the NC proposes encouraging their investment in:
- Agriculture
- Industry
- Tourism
- Technology
The party has also called for creating more economic opportunities within Nepal so young people can build their futures at home, while making foreign employment safer, more organized, and rights-based.
The policy seeks to gradually transform Nepal from an import- and remittance-dependent economy into a production-oriented one. Agriculture, water resources, clean energy, tourism, industry, and digital technology have been identified as the major pillars of future economic growth.
The NC has proposed using Nepal's water resources and clean energy potential as a foundation for industrial development and green-energy exports. It also wants greater policy support for businesses that connect agriculture with modern technology, markets, and entrepreneurship.
The report further introduces the concept of "pre-distributive justice," which focuses on ensuring equal opportunities before economic inequality becomes entrenched. It calls for equitable access to education, healthcare, nutrition, skills, finance, and employment.
The NC also proposes a broader approach to development involving citizens, communities, the private sector, cooperatives, universities, and experts rather than relying solely on government institutions.
The NC says economic progress should be measured not only through growth rates but also through improvements in education, health, nutrition, skills, capacity, and citizens' freedom. It has called for clearer accountability in state decisions, stronger monitoring of government activities, and greater civic oversight.
Climate change has also been identified as an issue of economic and national security. The policy calls for disaster risks to be incorporated into development, infrastructure, and settlement planning while promoting sustainable natural-resource use and linking environmental conservation with economic opportunities.
To implement the agenda, the NC has proposed releasing a "Prosperity Policy Paper" within the first 100 days and forming provincial task forces on education, nutrition, employment, good governance, and green development. It also plans quarterly internal reviews and an annual public "Prosperity Report."
The political party says its leadership should ultimately be evaluated on how effectively these policies and commitments are implemented, with the goal of moving Nepal toward a more productive, employment-oriented, and opportunity-driven economy.