PM looks to private sector to lift economy

Prime Minister Balendra Shah has begun formal consultations with the private sector, marking a significant shift in his administration's approach after completing its first 100 days. This move signals a broader engagement with key economic stakeholders aimed at reviving a sluggish economy and restoring business confidence.

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The prime minister's two principal priorities are good governance and economic prosperity. During the first 100 days, the government concentrated on strengthening governance. Investigations and action have been taken against those involved in corruption and irregularities. Now the focus is on economic growth, and the private sector is the engine of that growth. That is why the prime minister wanted to meet business leaders.

Until recently, Shah had largely avoided structured meetings with private sector representatives, political leaders outside his government, and the diplomatic community. His initial focus was on establishing his administration's priorities, including governance reforms and taking action against corruption. Now, the emphasis is shifting to economic growth, with the private sector identified as the primary engine.

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Over the coming days, the prime minister will continue meeting representatives from various private sector industries, including construction, tourism, hotels, information technology and manufacturing.

During a recent meeting, lawmaker Bidushi Rana explained that the prime minister views good governance and economic prosperity as his two main priorities. "During the first 100 days, the government concentrated on strengthening governance. Investigations and action have been taken against those involved in corruption and irregularities. Now the focus is on economic growth, and the private sector is the engine of that growth," Rana stated. She added, "That is why the prime minister wanted to meet business leaders."

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He (Shah) listened very attentively and asked many questions during the discussion. He told the private sector not only to bring problems but also to propose practical solutions.

This engagement is planned as an ongoing dialogue. The prime minister will continue meeting representatives from various industries, including construction, tourism, and IT. To formalize this, an informal coordination committee will be established, comprising officials from the Prime Minister's Office and private sector representatives. This committee will meet monthly to discuss business concerns, propose solutions, and brief the prime minister, ensuring continued dialogue even when the prime minister cannot attend personally.

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The prime minister wants this engagement to continue even when his schedule does not allow him to attend every meeting personally.