Morang Industry Association hosts economic dialogue with RSP leaders

KATHMANDU: A high-level dialogue focusing on Nepal’s contemporary economic challenges and reforms was organized by the Morang Trade and Industry Association, bringing together top economists, politicians, and key stakeholders in Biratnagar. The event featured Dr. Swarnim Wagle, Vice President of the Rastriya Swatantra Party (RSP) and Member of Parliament, along with RSP Spokesperson and MP Manish Jha, who shared deep insights into the current economic slowdown and policy needs.

During the discussion, Nandkishor Rathi, President of the Morang Trade and Industry Association, emphasized that Nepal’s domestic industries — key pillars of the economy — are under pressure from both internal inefficiencies and external instability. He noted that despite declining interest rates and a liquidity surplus in the banking system, industrial momentum has failed to pick up, raising concerns about the sustainability of economic recovery.

Rathi pointed out that import-dependent industries are facing increased logistics costs due to external instability, which in turn has escalated production costs and widened Nepal’s trade deficit. “There must be a unified political consensus on critical economic issues,” he asserted, highlighting the need for cross-party support on national economic strategies.

Dr. Swarnim Wagle, speaking at the event, warned of the shrinking trajectory of Nepal’s economic development and called for urgent structural reforms. “The economic sector has reached a tipping point. Without bold and rapid reforms, we will continue to lose economic vitality,” he remarked.

Dr. Wagle also stressed the importance of creating dignified job opportunities within the country to curb the alarming trend of youth outmigration, adding that many entrepreneurs are unable to focus on expanding their businesses due to bureaucratic and regulatory hurdles. “The state must prioritize creating an enabling environment where businesses can thrive with ease,” he emphasized.

RSP Spokesperson Manish Jha advocated for a comprehensive national strategy to accelerate development and industrial growth. He assured that his party is committed to formulating policies that genuinely serve the interests of the industrial and business community. “For Nepal’s economic acceleration, we must frame policies that are aligned with long-term industrial growth,” Jha noted.

Adding to the discussion, Rakesh Surana, immediate past president of the association, raised concerns about persistent power outages and frequent electricity tripping despite Nepal’s status as a power-exporting nation. “Industrial sectors need uninterrupted power to function efficiently,” he said.

Former President Suyash Pyakurel highlighted that industrialists are overwhelmed by bureaucratic red tape, which eats away time and obstructs long-term planning. “Even minor procedural approvals take months, leaving entrepreneurs little room to think strategically,” Pyakurel lamented.

Treasurer Paras Luniya expressed dissatisfaction over the government’s failure to adjust tariffs on raw materials used in the export-oriented paper industry. “We are exporting paper products, yet the duty on raw materials remains unchanged, which limits our competitiveness,” he said.

Executive Member Saurabh Sarada flagged the policy instability surrounding MS wire rods, saying frequent changes in customs rules have discouraged investors and created uncertainty. “Industrial policy needs to be sustainable and predictable,” he warned.

Other key participants included Senior Vice President Bhola Dulal, Vice Presidents Surendra Golchha and Bipin Kawra, committee members Birendra Rathi, Srijan Pyakurel, Siddhartha Kawra, and Ukkesh Agrawal, along with Vice President of Morang Merchants Association Vikas Begwani, and representatives from Nepali Women Entrepreneurs, Nepali Young Entrepreneurs Forum (VYEF) from Biratnagar and Sunsari chapters.

The dialogue provided a timely platform for policymakers and industrialists to reflect on the future of Nepal’s economy, discuss pressing business challenges, and deliberate on the need for unified reforms, regulatory simplification, and sustained support for domestic industries to ensure economic stability and growth.