KATHMANDU, Feb 20: Political parties contesting the March 5 House of Representatives (HoR) elections have unveiled election manifestos that promise sweeping economic reforms, job creation and improvements in basic services.
Most parties have prioritised expansion of basic utility services, agricultural development, employment generation, export promotion and higher economic growth. However, analysts say many of the pledges appear more populist than realistic.
The Nepali Congress (NC), which released its manifesto — termed a “commitment paper” — on Thursday, has pledged to provide collateral-free loans of up to Rs 5 million to youth and women entrepreneurs. The party has proposed an investment model comprising a 25 percent grant, 50 percent subsidised loan and 25 percent equity support for youth-led businesses.
The NC has also committed to creating 1.5 million jobs over the next five years. It has pledged to convert “brain drain” into “brain gain” by creating an environment that encourages Nepalis abroad to return and work productively in the country.
Election Manifestos and Reformation of Government and Electoral...
The CPN-UML has pledged to triple Nepal’s export earnings within five years. The party plans to promote exportable goods, develop trade and transport infrastructure and strengthen economic diplomacy if it forms the next government.
The UML has also promised to waive loans of up to Rs 25,000 taken by poor households. Its manifesto includes interest-free loans of up to Rs 2 million for women entrepreneurs, free sanitary pads for schoolgirls, inclusion of all workers in social security schemes and raising the minimum monthly wage to Rs 25,000.
The Rastriya Swatantra Party (RSP) has pledged to create 500,000 direct jobs over the next 10 years. The party has also promised to ensure voting rights for Nepalis living abroad and engage them as development partners. It has committed to returning cooperative depositors’ money within 100 days of forming a government and taking legal action against those involved in loan sharking and illegal financial transactions.
The Nepali Communist Party (NCP) has emphasised political stability, anti-corruption measures, economic reforms and social justice. The party aims to reduce multidimensional poverty from 20.15 percent to 5 percent, create 500,000 jobs annually and support returning youth in becoming entrepreneurs.
The NCP has also proposed launching an “Agriculture Investment Decade,” generating 15,000 megawatts of electricity within five years, expanding the East-West Highway to four lanes, introducing a metro rail system in Kathmandu and completing the Nijgadh International Airport project. It has pledged to promote smart and eco-tourism and position Nepal as a hub for international weddings and hill destinations.
The Nepal Communist Party (United) has pledged to make the country self-reliant in agriculture within five years. The party has promised to ensure that agriculture-dependent families earn at least Rs 40,000 to Rs 45,000 per month. It has also prioritised rural farming infrastructure, information technology, health tourism and good governance.
The Ujyalo Nepal Party has proposed a socialism-oriented economic system based on partnerships among the state, private sector, cooperatives and communities. The party said it would mobilise domestic capital and attract foreign investment in priority sectors to build a self-reliant economy.
However, analysts have questioned the feasibility of these commitments. Jagadish Chandra Pokharel, former vice-chairperson of the National Planning Commission, said the manifestos lack realistic assessments of the country’s financial resources and institutional capacity.
“This could result in the failure to implement many of the promised programmes,” he said.
