Mobilise foreign investment, says Madhukar Rana

BY A STAFF REPORTER

Kathmandu, July 6: At a time when the country is grappling with the swelling foreign debt, serious questions are being raised over the country's increasing over-dependence on foreign money. Noted management and economic expert Madhukar Shumsher JB Rana suggested mobilising foreign direct investments as a balanced alternative to foreign money.

"This is a good alternative since this investment through mobilisation of the international and national private sectors will have greater dynamism on the economy and society," said Rana.

He however, added that he did not mean to imply all aid should stop.

In an exclusive interview with The Rising Nepal Friday, he underscored the need for curtailing waste through a National Austerity Movement

"The austerity movement should be seriously spearheaded by the Office of the Prime Minister and supported by a full-time Minister without Portfolio, who should be accountable each quarter for measures taken to enhance national productivity, minimise wastage of national resources and maximise austerity," he said.

"We must stop political largesse paid from the earnings of tax payers," he added.

On various burning economic issues, including national budget, trade and poverty reduction, he came up with a number of concrete suggestions for policy initiatives and plans. For details, see Page 6.

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