Draft of Karnali’s Second Five-Year Plan Targets 9.9% Economic Growth

Draft of Karnali’s Second Five-Year Plan Targets 9.9% Economic Growth The five-year investment framework, released by the provincial planning commission, estimates that investments totalling Rs 5,202 billion would be required across agriculture, industry, and service sectors to meet the target

Policy

This file photo shows the dam construction site of the Bheri-Babai Multipurpose Diversion Project, one of the national pride projects, at Chiple in Bheriganga Municipality-11, Surkhet. Photo: RSS

07 December 2024

The Karnali Province Planning Commission has begun discussions on the final draft of its second five-year plan (2024/25 to 2028/29).

The draft focuses on achieving a prosperous Karnali through social justice and good governance by fostering a productive, employment-oriented economy. It sets an ambitious economic growth target of 9.9 percent.

Although the first five-year plan aimed for an 8.8 percent growth rate by the end of the last fiscal year (2023/24), it fell short, with the region’s economy growing at just 4.1 percent.

The five-year investment framework, released by the provincial planning commission, estimates that investments totalling Rs 5,202 billion would be required across agriculture, industry, and service sectors to meet the target

Of the total investment, approximately 17 percent will be allocated to agriculture, 36 percent to industry, and 46 percent to the service sector.

The planning commission has also outlined six “game-changer projects” to boost production and create employment. These projects focus on green economy, land management and cooperatives, minerals, industries, commerce, and tourism, according to Surya Nath Yogi, Vice Chair of the commission, as reported by the state-owned news agency RSS.

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