Private Sector Seeks Political Stability, Economic Clarity in Parties’ Election Manifestos

As political parties gear up to unveil their manifestos ahead of the March 5 elections, Nepal’s private sector is watching closely, pressing parties to prioritise political stability and economic prosperity.

The private sector, regarded as the backbone of the national economy, says party manifestos for the next five years must clearly commit to political stability, an investment-friendly environment, and the protection of investments. Business leaders say concerns over investment security have grown, particularly after heavy losses suffered during the Gen Z-led protests.

Private sector representatives also fear that post-election political infighting could once again push the country into instability. According to them, political stability has become an urgent necessity, along with strong safeguards for investments made in industries, businesses and enterprises. They argue that despite frequent political changes, economic agendas have consistently been sidelined, and party manifestos must now speak clearly and decisively on economic priorities.

Hemraj Dhakal, vice-president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), said the country has failed to achieve political stability so far, leading people to feel that even the governing system is faltering. He attributed the current crisis to Nepal’s failure to move decisively towards economic prosperity.

Dhakal stressed the need for party manifestos that shift the economy away from import dependence and focus on creating jobs for youths within the country. “There is deep frustration among young people, and party manifestos must play a crucial role in addressing it,” he said. “Political parties must now seriously consider issues the private sector has long raised—job creation, entrepreneurship development and investor protection. If these are ensured, employment will rise, social balance will improve and domestic production will increase, reducing import dependence.”

Similarly, Nepal Chamber of Commerce President Kamlesh Kumar Agrawal said economic prosperity is the only viable option for the country and should be at the core of manifestoes of all parties. He cautioned against limiting economic prosperity to slogans, stressing the need for firm commitments to implementation.

Agrawal noted that movements such as the Gen Z protests were driven by demands for good governance, corruption control and job creation, and said upcoming manifestos must directly address these concerns.

“Political parties must maximise the use of natural resources,” he said, adding that Nepal’s most valuable asset is its youth population, which makes up 57 percent of the total population. “Employment opportunities must be created at home, as global economic fluctuations make overseas jobs increasingly uncertain.”

He said political parties must ensure both political and economic stability, along with a secure investment climate, in the run-up to the elections.

Confederation of Nepalese Industries President Birendra Raj Pandey said that while many changes have occurred over the past five to seven years, the economy has seen little improvement. He said economic agendas have failed to gain momentum. “Had economic agendas been pushed strongly, we would not be stuck at around 4.5 percent growth,” Pandey said. “Political parties must place economic agendas at the centre of their manifestos. If the economy is not prioritised, the country itself could fall into serious trouble.”

Ganesh Karki, president of the Independent Power Producers’ Association Nepal (IPPAN), said party manifestos must present clear policies on how development will be advanced.

“The government has set a target of producing 28,500 megawatts of electricity within a decade, while the National Planning Commission aims to raise capacity to 40,000 megawatts by 2045. To achieve these targets, manifestos must include commitments to policy reforms and investment protection,” Karki said. “Economic reform is now essential, and political parties must clearly state their positions on moving forward in partnership with the private sector.”