The NRNs want a 182 days threshold as in other countries instead of the current two years. They are also demanding an amendment of the law to include the provision of dual citizenship.
The government has granted certain privileges to NRNS such as NRN identity card valid for ten years, the right to purchase and sell land for residential purposes, the right to open a bank account in convertible foreign currency, and the right to run an industry or business. With the expectation of attracting their accumulated capital, experiences, skills and technical know-how, the government allows for a repatriation of their investment and profit earned out of investment to their domicile and tax exemption. The NRN card can be issued from both the Ministry of Foreign Affairs and Nepali missions abroad. However, government data shows that only about 650 NRNs have been officially registered so far. This data seems nominal in relation to the number of Nepalis residing abroad—more than three million Nepalis are expected to reside in countries other than SAARC countries.
The NRNA has already observed its 5th NRNA Global Conference. The government provides a certain amount of money from the state-coffer annually to organize it. The NRNs have pledged to establish Nepal Investment Fund worth US $ 100 million to support Nepal’s socio-economic development, which is yet to materialize fully. According to NRNA representatives, political leaders have promised to address their concerns, which is essential for taking them into confidence. The protracted political instability and unfinished task of writing a constitution do not give much hope of their concerns being addressed. Notwithstanding, it is the duty of all Nepali people to facilitate and contribute to consolidate the historic achievement. In this context, the financial, technical, moral and other support of NRNs is highly appreciated.
They can express their love for Nepal and Nepali people by developing and harnessing hydropower, agriculture, tourism, infrastructure development, mines and mining and service sectors, which they have done and will do by investing their capital, knowledge, skill, technical know-how and experience. It is also imperative to address problems such as massive poverty, economic disparity, unemployment, low economic growth, food and fuel shortage, protracting load-shedding, trade deficit, reducing balance of payment, huge burden of foreign debt servicing, and resource constraints in the country.
Despite possessing abundant national resources, a large number of economically active manpower, liberal and open economic policies, cheap labor cost and the vast potential market (due to borders with the geographically and demographically largest Asian countries of India and China), Nepal has remained a donor driven, agro-oriented and least developed country. Nepal’s water resources, agriculture, tourism, manufacturing, mines and minerals, service, ICT and infrastructure development are the most promising sectors that can transform its national economy from subsistence agriculture to one of trade, tourism and investment.
Due to lack of adequate capital investment, advanced technology and modern management skills, these sectors have remained underdeveloped and unexploited. In this context, the NRNs could be Nepal’s most reliable and sustainable development partners. They can play an instrumental role in the socio-economic transformation of the nation and establish a peaceful, prosperous and just modern Nepal, which can contribute to addressing people’s overwhelming desires and expectations in the country.
But for that, the government, political parties and bureaucrats should be proactive towards addressing NRN’s legitimate concerns. If necessary, they can consult with NRNA representatives, academicians, intellectuals, and other stakeholders, and take references from good practices of India where NRIs’ capital, knowledge and expertise are being effectively utilized in socio-economic transformation. Political slogans, donor-driven policies and donor prescribed medicine could not create a new Nepal, and so, a strong base of sustainable income and investment, like NRNA, is the need of hour.
The author is affiliated with the Ministry of Foreign Affairs
rebantakc@yahoo.com
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