Coalition urges govt to adopt strong economic policies to revitalize economy

KATHMANDU, May 1: The ruling coalition has recommended that the government adopt strong and targeted economic policies to revitalize the country’s sluggish economy and restore hope among the youth.

During a meeting convened by Prime Minister KP Sharma Oli at Baluwatar on Wednesday, coalition leaders concluded that the economy remains weak and that the ongoing trend of youth migration for employment is a major concern. They emphasized the need for policies and budget programs that could create a breakthrough in addressing these challenges.

Following the meeting, CPN-UML Deputy General Secretary Pradeep Gyawali said the government had been advised to introduce comprehensive programs promoting entrepreneurship, skill development, startups, business growth, and market expansion to generate optimism among the youth.

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"Leaders also recommended a strict reduction in unnecessary structures and wasteful spending," Gyawali said. "To manage internal migration, several leaders proposed including major breakthrough initiatives in the budget, focusing on hill-based agriculture and livestock development."

President Ramchandra Paudel is set to present the government's policies and programs for the upcoming fiscal year in a joint session of the federal parliament on May 2.

Attendees at the meeting included Nepali Congress (NC) President Sher Bahadur Deuba, Vice President Purna Bahadur Khadka, Foreign Minister Dr. Arzu Rana Deuba, CPN-UML Vice President Ishwar Pokharel, General Secretary Shankar Pokharel, Loktantrik Samajwadi Party Chair Mahantha Thakur, and Janata Samajwadi Party Chair Ashok Kumar Rai, among others.

Notably absent was NC General Secretary Gagan Thapa, whose relationship with Prime Minister Oli has reportedly deteriorated in recent weeks. Earlier this month, Thapa claimed that intermediaries involved in the appointment of Nepal Rastra Bank governor had gained access as far as the Prime Minister’s bedroom — a claim that Oli recently challenged Thapa to prove.