Record breaking remittance Inflow in Nepal, Due to which Foreign Reserve of Nepal has Seen Going up but Youths in Nepal Going Down, One Question: Is it a Good News or Bad one?

Kathmandu :  Nepal experienced the record breaking inflow of remittance this year especially last month i.e. Mid of October. May it is due to the festival reason but the record has been marked as if for now.

In the other hand it is due to the record breaking youth fled from Nepal to others country for Foreign employment and in student visa. Every youth in Nepal is planning and dreaming to foreign country to improve their Future. More than 1 million People had gone abroad in until the month of October from Nepal in search of job and study. This amount of citizen going for abroad is also a record this year.

Condition of people working in Nepal is very delicate. Even the government workers, want to apply for Foreign employment. Employees working in Government fields, banks, hospitals, schools and overseas or manpower running in Nepal seems safe about their jobs as these sectors are getting profits in satisfied amount. But in others fields like constructions, maintainance, media, hospitality services (hotels/resorts/restaurant), agriculture, cosmetics, textiles, etc are unsecured about their jobs due to the economic and political imbalance in Nepal.

Government of Nepal is also behaving selfishly as they are making visa contracts with more and more countries so that they can increase the number of people going for abroad. Recently they made visa contracts with Germany and Romania. Government is also opening the fields for Nepalese Nurses to work in U.K. Even the death threats country like Israel, vacancies are open for those countries also for Nepalese people for Employment.

Conflicts can be seen in the name of Hindu nations and slogans of Returning back the king can also be heard in the present air of Nepal. This situation of imbalance in Political situation of Nepal has voilted the mentality of all the youths in applying for abroad either for study or for employment.

Recently earthquake hit in Jajarkot and Rukum areas, where Head of the nations and many big organizations gave their concern and help for a week but the situation is still not solved in those areas. And the government looks silence for now as another situation of “Bringing back the King” has arose by Durga Prasai protest. Big parties of Nepal and even Ruling party is worried about this situation and wondering off from the situation of those earthquake affected areas. This shows that the Government of Nepal is still weak and chances of falling the ruling government can be suspected.

According to Central Bank, Nepal received remittances amounting to Rs 136.97 billion in the last month. This marks the highest monthly remittance ever recorded in Nepal. The influx in remittance has also improved Nepal’s foreign reserve by 6.7 per cent over the past three months. NRB says Nepal’s foreign reserve currently stands at Rs 1.643 trillion.In the last three months, the foreign exchange reserves in US dollars experienced a 5.3 per cent increase, reaching USD 12.33 billion. The share of the Indian currency in the total foreign exchange reserves stands at 22 per cent.

This huge amount of money that we receive sole from foreign remittance must be used to improve the economic level of people but Government is not seen serious in this matter. They also have accrued huge amount of money from taxation and fines from the citizens of the country which can also be used for the progress of citizens livelihood but unfortunately it is also not seen in present context.

Every year Nepal gets huge amount of money through foreign aids for the development of the country but it can be seen either in news or datas of financial books only. There is not any transparent and vivid expenditure list of those aids. This is all due to the lack of people’s questionnaire to the Government. People wants “King to come back” and save the nation but truth is that only the nation can be saved if the nation’s citizen is aware of all the activities done by Government.

Tax and Vat has been added to every steps of normal citizen’s economic activities. Taxation in Import and even in salary of the employees working in Nepal. This rules looks like the Government wants its energetic and talented people who wants to work in Nepal to either pay half of their income to the government or go to foreign country to earn money and send them remittance.

People are unaware of the Government Steps that they are taking our country into the stage of “Sri Lanka”. Only foreign Aids and foreign loans are being taken by the government and in return the prices of essential goods for citizen’s activities are increasing day-by-day. Nepal is already in economic crisis and this Government is dragging deep into the crisis by implementing new/new rules for taxation and increase in the price of essential commodities (petrol, gas, salt ,sugar, lentils, textiles, rice, oil, etc). These all commodities are imported to our country we don’t have our own production to it, instead of increasing the production of those items Government is increasing the price?

This big question of “Why the Government is trying to push our country into economic crisis instead of solving the problem by industrial evolution in Nepal?”

Does the Government want all it’s youth to apply for foreign country earn them the remittance that breaks the world record?