Kathmandu. KATHMANDU: The Communist Party of Nepal (CPN) has made public a brief commitment letter for the upcoming House of Representatives Election-2082, giving special emphasis on the new phase of economic reforms.

Party coordinator Pushpa Kamal Dahal ‘Prachanda’ made public the party’s brief commitment for the upcoming elections, amid a special programme organised at the party office in Parisdanda today. The party’s commitment letter has been presented as a revolutionary step to address the structural crisis of the present economy and prepare the basis for socialism.

Especially, the commitment letter has emphasized on the issue of ‘shifting’ from import-trade and consumption-based economy to production-oriented, self-reliant and inclusive model. The commitment letter has pointed out the historical need for new reforms by analyzing the failures of the past policies.

The party has taken the initiative to prepare a roadmap for building an independent and prosperous Nepal laying special emphasis on ‘new phase of economic reforms’ and prosperity with social justice. The party has pledged to take special initiatives for political stability, good governance and result-oriented administration.

The commitment letter states that Nepal’s economy is mired in a deep structural crisis, adding that the neoliberal policies adopted in the past decades have initially created some production and jobs, but in the long run have made the economy import-dependent, non-production-oriented and unequal.

“Trade deficit is growing, the national budget is being spent on unproductive sectors, syndicates and collusion are institutionalized, and poverty and economic inequality persist. The lack of regulation in the cooperative and non-government sectors has led to distortions and misuse,” the commitment letter reads, adding, “The party has concluded that although the constitution has envisaged a socialism-oriented economy, the old policy framework has hampered the implementation of fundamental rights.” Stating that the old model was not practical and relevant in the changing national and international context, the party has proposed a new phase of economic prosperity with social justice through production growth, employment generation, financial inclusion and self-reliance.