Kathmandu. KATHMANDU: President of the Confederation of Nepalese Industries (CNI), Birendra Raj Pandey, has urged the political parties to give top priority to economic issues in their election manifestos.

Speaking at a programme organized here today, Pandey stressed that the country should get economic way out along with political outlet by getting the government in the stipulated time. “Only the political agenda seems to be getting priority at present, but a clear plan and roadmap are very necessary for the improvement of the country’s economy,” he said.

Pandey said that although political changes were taking place like every decade, the average economic growth rate of the country has not improved significantly. According to him, the trend of decreasing contribution of production and industry to the country’s economy and increasing share of service sector in recent years is worrisome.

“The need of the hour is to increase the contribution of the productive sector to the country’s economy. Without this, long-term economic stability will not be possible,” he said. He blamed the weak capital expenditure, lack of expansion of investment despite sufficient liquidity and policy instability which have hampered the economic growth rate.

The CNI has suggested creating investment-friendly environment for economic improvement, ending the annual changes in tax policy, reducing administrative hassles and ending the situation of having to visit multiple agencies for the same work.

Pandey also said that it has become difficult to do business due to the large regulatory structure. He stressed that speeding up the economy along with political stability should be the main goal of the country. He commented that although the political parties’ manifestos have good commitments, the implementation aspect is weak.

Likewise, the CNI has suggested adopting a policy to promote entrepreneurship, maintain good governance, complete big infrastructure projects on time, prioritize IT-based enterprises, strengthen energy security and pay special attention to tourism promotion.

Likewise, the political parties should be serious about formulating policies that can take maximum benefit from forest products and attracting domestic and foreign investment in the mines and minerals sector.

On the occasion, senior vice president of Confederation of Nepalese Industries Nirvana Chaudhary said unemployment was the biggest problem in the country. He added that discussions and interactions would be held with the top leaders of all the political parties to prepare a clear roadmap for the sustainable economic development along with political stability in course of the upcoming elections.