Monday, May 17, 2010

Industrial Policy of Nepal 2010 - II

So, the Nepalese government finally decided to endorse a new industrial policy, which replaces the old one of 1992.

Check out this blog post for details.

The new industrial policy would mean little if there is no political stability and policy consistency. Political stability has been the most binding constraint on economic growth and industrial activity in Nepal. Also, the sad truth is that policies are formulated but hardly implemented. We have to see how far the policies will be implemented in reality in the days ahead. But, for now, formulating a new, updated industrial policy is a good progress in an economy where pretty much everything variable seems to be in doldrums.