On the verge of collapse

The problems of both commoners and local entrepreneurs are very serious. Even during the Dasain and Tihar festivals, the market was unable to reactivate as expected. The consumption of meat has gone down. Shops around the main business hubs remained without business. Businessmen are unable to pay the rent of their shops; thus, they are quitting their businesses. Meanwhile, local industries have reduced production due to the decline in demand. The government is insisting on imports of goods as it gets an attractive amount of customs revenue. The government, thus, cannot think about promoting local industries and substituting foreign goods. Developed nations are introducing different strategies for increasing their exports, but Nepal, like an underdeveloped country, is encouraging imports. We cannot say our ministers are naive about economics, but they are shortsighted and self-centred. They are ready to do everything at the cost of the commission they receive. The political leaders think about making personal gains and ensuring a better future for their kids. They are not concerned about uplifting the country permanently.

As a result, the nation's economy is on the verge of collapse. This means the present political system has been collapsed. If we continue to adopt the present political system, it is obvious that we are on the path of collapsing the nation after all. One cannot hope betterment of the country under the present political system and also from the presentday political leaders. Reducing the non-productive sector expenditure, curbing corruption, and introducing good governance are essential for a better economy and making Nepal prosperous. This is not possible under the present political system, therefore, we must scrape the existing political system. It has been proven that federalism has become a white elephant for the country; secularism has ended the religious harmony in the society and republicanism has encouraged anarchism among the political leaders.