Nepalese economy

May 5, 2010
2 min read

People are saying the Nepalese Economy is tending towards failure.  I am saying, ‘People are saying’ because I don’t know for sure myself due to lack of data.  This problem is due to my ignorance of where to find the data needed to assess for myself the problem.  May be I should visit the website of the finance ministry.  May be I will.  But for now I write out of my ignorance and in reaction to hearsay. 


People say:

  • Trade deficit is too high
  • The reserve of foreign currency is at an all time low
  • Remittance is decreasing
  • Factories are closing
  • Government may soon not be able to pay salaries


I know:

  • Big industrial supply contracts that earlier went to nepalese suppliers are now going to foreign industries in the name of maximizing profits
  • Commission hungry salesmen are underselling nepali products and overselling foreign brands
  • Nepali consumers don’t like anything nepalese starting with movies
  • Nepali consumers are hypocratic in that they won’t buy CD to encourage singers but will copy and sing their songs
  • The government gets more revenue by taxing imports than by taxing industries that produce the same things
  • A major bridge in the capital city fell  two years ago but it has not been re-built since then. 


It is bad, very bad. 


Add to this the strikes and we can see an economy headed to disaster. 


I wonder what we can do?  Where to start?  Who will be the champion?  Am I that hero?  Why not? 


We can’t say if anything is going to change for nepal.  It certainly has to. 


As for me, I have given myself the task to begin with investigation into the problem and the formulation of the solution.  See you on this matter after a decade!