CPN-UML Outlines Economic Goals: Targeting $3,000 Per Capita Income Within Five Years

Kathmandu. The CPN-UML has set a target of reaching a per capita income of $3,000 USD within the next five years. The party's manifesto, released targeting the upcoming elections, mentions ending extreme poverty through equitable and rapid economic development, aiming to raise the per capita income to approximately $3,000 USD.

The party aims to increase the size of the economy by one trillion rupees in the next half-decade and by two trillion rupees in a decade. CPN-UML stated that it will achieve an economic growth rate of 7% to 9% by making significant strides in agricultural production, electricity generation capacity, mineral and industrial production, information technology, and physical infrastructure development. The UML's goal is to increase the size of the economy to 100 trillion rupees in five years and 200 trillion rupees in ten years.

The UML plans to modernize agriculture, implement investment-friendly and production-oriented policies, channel capital from the financial sector into productive areas, develop and strengthen the capital market, and attract domestic and foreign capital. The UML manifesto states that the state's investment in sectors that have a qualitative impact on economic growth will be increased, the effective implementation, timely completion, and quality assurance of the budget will be ensured, public debt will only be taken for implementing national priority projects, and public debt will not be allowed to exceed national capacity. CPN-UML also aims to increase the contribution of the information and communication technology sector to 5% within the next five years.

• Creation of 500,000 Jobs Annually

CPN-UML has put forward a target of creating five lakh (500,000) jobs annually. The UML stated that it will double employment opportunities and reduce the compulsion to seek employment abroad. It is mentioned that employment will be increased in agricultural modernization, commercial farming, food processing industries, physical infrastructure construction, green industries, and the service sector.

The UML's plan is to expand opportunities for skills-based education, IT, digital, and remote employment; establish labor desks in every local level to ensure worker registration, skill development, and inclusion in social security; and double labor income in five years by ending worker exploitation and ensuring dignified work, fair wages, and employment security. The manifesto mentions ensuring cheap loans, necessary training, and security for workers going for foreign employment, supporting returned workers in operating enterprises according to their skills, creating a favorable environment for foreign investment, and developing Nepal as a 'logistics hub' by utilizing economic potential with neighboring countries like China and India.

• Support for Low-Income Families to Purchase Homes or Apartments through Subsidized Loans

CPN-UML has put forward the slogan 'Safe, Respectable Shelter: Modern and Citizen-Friendly Housing'. The UML's manifesto mentions providing safe housing with basic services to landless, squatters, vulnerable, and low-income citizens. The UML aims to establish a 'Citizen Housing Fund' to develop housing through public-private partnership and ensure that no citizen remains homeless. The UML plans to assist low-income families in purchasing homes or apartments through subsidized loans. The development of integrated settlements, relocation from high-risk areas to safe locations, and the construction of infrastructure-equipped housing will be encouraged.

It is mentioned that villages will be developed as centers of production and labor, and cities as centers of capital, technology, services, and markets. Metropolitan and sub-metropolitan cities will be developed as financial, industrial, commercial, educational, health, and innovation centers to create 'Mega Cities'. The UML plans to develop the Mid-Hill Highway, Koshi-Gandaki-Karnali Corridor, and Postal Highway as economic corridors, and expand health, education, skill development, digital access, and employment opportunities in villages. In cities, waste management, creation of open and green spaces, modernization and sustainability of public utility infrastructure such as water pipes, drainage and rainwater harvesting, electricity wires, and fiber optics will be ensured by constructing 'Utility Tunnels' in all sub-metropolitan cities and 'Underground Utility Corridors' in the country's cities. The manifesto mentions declaring villages, towns, and cities as 'Zero Waste Zones' respectively, operating green zones, parks, flower gardens, riverbank conservation, and tree plantation campaigns, and developing satellite cities in every sub-metropolitan city.

• Basic Water Supply to All Homes Within the Next 2 Years

CPN-UML has put forward a plan to provide access to basic water supply and sanitation to all homes within the next 2 years. The UML aims to ensure access to clean, safe, and quality drinking water for everyone within 5 years. The manifesto mentions improving quality 'from water source to consumer tap' to provide safe drinking water to all Nepalis 24 hours a day, seven days a week, and implementing GIS (Geographic Information System) mapping in water supply management.

• Commercial Production of Gas in Dailekh and Duhwadi Iron Ore Mine

CPN-UML has also included the commercial production of gas in Dailekh and the Duhwadi iron ore mine in its manifesto. The UML plans to double the contribution of the industrial sector to the Gross Domestic Product by expanding the productive industry, mining, electricity, water supply, and construction sectors. The UML's plan includes maintaining policy stability in industry establishment, operation, profit, capital repatriation, tax, customs, and financial services; making all industry-related services available online through a 'Single Window Service Center'; and operating at least one 'Special Economic Zone' in each province. The CPN-UML manifesto mentions implementing a legal provision prioritizing domestic production when public bodies procure goods.

A plan has been put forward to double exports within three years and triple them within five years. By implementing an 'Export First' policy, CPN-UML plans to expand the export of processed agricultural products, information technology, electricity, industrial production, precious minerals, and financial services. It is mentioned that customs clearance will be completed within 48 hours by maximizing trade access with India and China and modernizing port and customs systems.

CPN-UML has committed to implementing strict regulatory arrangements to make the cooperative sector transparent and secure depositors' money, and to investigate and take legal action against problematic cooperatives. The manifesto mentions expanding financial access to small enterprises and farmers through cooperatives by focusing cooperatives on production, processing, and market management.

The UML manifesto mentions developing Nepal as a safe, attractive, and diverse tourism destination; making school education practical, technology-friendly, and employment-oriented; bringing primary healthcare within the reach of all citizens; expanding digital infrastructure and transforming all public services to an online system; strengthening the e-governance system to make service delivery fast, transparent, and effective; increasing hydropower production to boost domestic consumption and exports; encouraging investment in alternative energy; expanding roads, railways, air services, and expressways; promoting youth entrepreneurship and startups, providing subsidized loans, and establishing innovation centers; and increasing participation in international competitions by developing sports infrastructure.

The UML has included strict measures against corruption, transparent public service delivery, strengthening good governance through judicial, administrative, and financial reforms, among others, in its 25 pillars for making the country prosperous. CPN-UML has also mentioned its past achievements in the manifesto. The UML has called on everyone to analyze based on facts, free from the illusion that 'nothing has happened'. CPN-UML has mentioned 5 basic declarations for development, 11 immediate actions to be taken by the Council of Ministers, and 25 pillars of prosperity in the manifesto. The five basic declarations include Country First, Complete Democracy, Supremacy of Constitution and Law and Good Governance, Let's Believe in Facts Not Illusions, Nepal Towards an Era of Prosperity, and Friendly Foreign Relations.