Kathmandu: The draft of the 16th five-year plan (2081/82-2085/86) focusing on economic development, good governance, social justice, and prosperity is in its final stages, with the National Planning Commission (NPC) aiming to make it public by February 12. The plan, set to be implemented from mid-July 2024, is designed with a different approach compared to previous editions.

The draft encompasses transformative strategies in 14 themes, including economic growth, production enhancement, employment generation, social security, infrastructure development, urbanization, gender empowerment, poverty reduction, and green economy. The NPC has collected inputs and recommendations from all provinces and local levels during the formulation process.

The ambitious plan targets a GDP size exceeding Rs 80 trillion over the next five years, with the government aiming to achieve a GDP of Rs 30 billion by the end of the plan period. The plan addresses inflation control, increasing federal spending on GDP ratio, and setting objectives for domestic production and productivity.

To boost domestic production, the plan outlines the operation of 17 industrial estates, the announcement of 140 industrial villages, and an increase in Special Economic Zones (SEZs) to three. The goal is to raise power generation from the current 2,800 MW to 11,800 MW, with plans to export electricity worth Rs 41 billion per year to reduce the trade deficit.

Additionally, the draft sets targets for maternal mortality rate reduction, achieving 100% literacy rate, providing internet access to educational institutions, and ensuring universal access to electricity. NPC spokesperson Yamlal Bhusal noted that the targets might undergo revision based on ongoing discussions with experts and specialists.

The NPC approved the Approach Paper of the 16th Five-Year Periodic Plan, which focuses on 'Good Governance, Social Justice, and Prosperity.' The plan aims to identify, address, and eliminate structural barriers to achieve good governance, social justice, and prosperity through structural transformation. Strategies include strengthening primary and secondary sectors, promoting service sector stability, and building a reliable financial system. The plan also emphasizes human capital building, workforce mobilization, and demographic dividend utilization.

While the 15th Plan targeted an average annual economic growth rate of 9.6%, recent assessments show a growth rate of two percent until the last fiscal year. The plan also aimed to reduce multidimensional poverty from 17.4% to 11.5%, achieving a human development index of 0.602 against the targeted 0.624 until the last fiscal year.