| Rajib Sharma |
Posted
on 05-Dec-01 02:54 PM
Dear Folks,
It made me big laugh..
this was appread in The Rising Nepal December 05, 2001 Marga 20,
Rajib
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‘Success of privatisation depends on govt policies’
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BY A STAFF REPORTER
Kathamandu, Dec. 4: Former ambassador and Vice-chairman for External Affairs of American Group (AIG) Frank Wisner has said that the success of privatisation largely depends on government policies and response of trade unions or employees.
"The government should not invest for the enterprises. Rather it should mobilise its resources for well being of the public," Wisner told this at a talk programme on "Importance of Private Sector to National Development.
The programme was jointly organised by Nepal Council of World Affairs, The American Centre, FNCCI and Nepal-USA Chamber of Commerce and Industry.
Wisner who is leading an AIG delegation is currently in capital. AIG, a large US based insurance company is going to set up AIG branch in Nepal from first January of next year.
The opening of the AIG wing will be the first foreign investment in insurance sector of the country. The AIG has already operated its branches in other South Asian countries, including India, Pakistan and Bangladesh.
"The objective of extension of the AIG is to build up infrastructure of Nepalese economy and provide better choice to the insurance customers in the country," he added.
He informed that it would cost over 18 Million US dollars and offer employment to about 240 Nepalese.
‘Nepal and the United States have amicable relations from the very beginning of the estabalishment of diplomatic relatinos between two nations.’ He also noted that Nepal and US are now facing same problem of terrorism.
He also appreciated the role of Nepal for maintaining a balanced relations with its two giant neighbours.
Stating that the collective economy has failed to deliver desired outcome, he remarked, "The market economy has become key force in the global economy."
Democratic environment is vital for the successful privatisation, he said, adding. "The decision of privatisation should not be confined to the market situation and must be backed by reality."
He noted that corruption, which is cancer to the democracy, would ultimately lead the privatisation process to failure. "For its success, the market must be mature and stable."
On the occasion, Director of American Centre Robert Kerr, Council chairman Keshav Raj Jha and president of Nepal-US Chamber of Commerce and Industry Sunil Shakya also expressed their opinions.
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