National Planning Commission Vice Chairman Urges Youth to Choose Entrepreneurship Over Jobs for Economic Progress

Kathmandu. Vice Chairman of the National Planning Commission, Dr. Prakash Kumar Shrestha, has advised youths to set their goals early in life and move forward. Addressing the 'Second National Cooperative Youth Conference' that began in Kathmandu on Tuesday, he stated that if young people can decide whether to become entrepreneurs or seek employment during their youth, the chances of success become stronger.

Stating that government jobs face high competition and only sustain livelihoods, he clarified that entrepreneurship is the best option for economic progress. Vice Chairman Shrestha emphasized that hard work and investment of time are necessary to pursue entrepreneurship.

"One cannot succeed by remaining lazy; time and dedication make a successful entrepreneur," he said. "Successful entrepreneurs are earning a lot, but employment may not lead to significant financial progress." He noted that the current generation was born 'high-tech' and pointed out that adapting to the rapid changes in technology is a major challenge and necessity today.

At the same event, Secretary of the Ministry of Land Management, Cooperatives, and Poverty Alleviation, Madan Bhujel, stated that the main reasons for the collapse of the cooperative sector are miscalculation of risks and misconduct by the operators. He concluded that cooperatives failed because loans were disbursed without collateral, large sums of money outside of members' savings were accepted, and the operators invested that money in their own companies.

Secretary Bhujel mentioned that cooperative operators now have to walk with their heads bowed in society and stressed that cooperatives must now operate under complete discipline. Due to the loss of savings for many depositors, there is pressure on the government to strictly regulate cooperatives, and he committed that regulation will be made more effective in the coming days. This youth conference, which started on Tuesday, will continue until Wednesday.