KATHMANDU, Dec 10: Experts have said that stability of governance is more important than political stability for the economic development of a country.

Addressing a talk program organized by Chevening Alumni Association in Nepal (CAAN) in the capital on Friday, former Finance Secretary Krishna Gyawali argued that economic development is possible even if there is no political stability. "We tend to blame political instability for lack of economic development. But stability of governance is more important than political stability," he said.

Gyawali argued that as political instability is ingrained in our constitution itself, it is not prudent to wait for political stability for bringing about economic development in the country. 

“What we need for economic development is stability in our rule of law situation, policy, institution and institutional leadership," he further said while addressing a talk program on Economic Development in Nepal. 

Also speaking on the occasion, Dr Badri Bastakoti pointed out the need to formulate plan and policies that are suited to the needs of the country. "We should hear the local people, learn from their experience and formulate appropriate development policies. Experiences of local people can prove incredibly important while pursuing development endeavor," he said. 

During the program, Chevening scholars, who studied in various UK universities in the academic year 2015/16 were welcomed home by CAAN President Laxmi Kant Paudel. A total of 18 Nepali students had received UK government's Chevening Scholarship in the year 2015.

 
• governance stability
 
• a key to economic development