Reviving Economy after Quake

The massive earthquake that hit Nepal on April 25 took lives of around ten thousands of people leaving another similar number injured. It affected almost one-fifth area of Nepal.

Since, majorly affected district also captures most dense region of country, buildings has been damaged in large proportion. Around 5 lakh houses have been completely destroyed while similar number has been partially destroyed.

Tourism sector was almost at halt. From brick houses to big malls, they were severally affected. Despite different sectors were badly affected, major industries, which were located in southern region was not much affected and that probably is the reason why country did not face any economic trouble after the quake. Basic facilities like water supply, electricity supply, and telephone networks were all brought back into existence in smooth operative manner as quick as possible.

Troubles and threats kept on troubling Nepal. First fear was of employment. Although industries were not much affected, being in southern region; lot of other businesses were affected. There already was huge trouble of unemployment in context of Nepal, and this quake was likely to displace those who were employed as well. Sectors like banking and insurance could go for new building, however for those grocery stores, small shops, they certainly had two option: either to reconstruct, or shut down the business. On primary report it had been noted that 36 thousand cows died because of this quake signifying troublesome life for those who sustained through animal farming. At time, when houses were destroyed, family members were dead, people took time to settle in peace and begin up the farming. Delay in farming lead to decrease in supply. And, the blockade that Nepal is facing through its major importing country, India has made the life difficult in Nepal at present. There are no gases to cook food, no petroleum to travel, there is scarcity of other daily edibles and basic necessity stuffs.

Demand was kind of constant, and supplies could cope up to meet the demand back then. Price was almost constant, however there was threat of price hike from tomato to local garments product. Shortage of rental space, because of damaged building again contributed in rise of rents, and hike in prices. Despite Government’s effort, this could not be controlled. There was threat for education sectors as well. Numbers of students decreased from affected areas, for Plus Two, Bachelors and even Master degrees. Ultimately, there is main fear of Brain Drain. There already was opportunities knocking for youths from Canada. For those who got unemployed too can plan for working abroad. EDV lottery was filled up with craze this year as well.

Everything happens for some cause. This proverb could be generalized from different perspectives after all. However, after the earthquake, the parties quickly assembled and united, and started constitution drafting process. One good aspect that earthquake brought was unity among the diverse parties, that gifted the country with constitution. 

The quake has brought damages to mosques this time; temples in Nepal were also heavily damaged. The death toll however is around eighty times than that of Afghanistan. Similar stories are with injured and damages to buildings. However, the effort made by Government, Abdullah Abdullah and Ashraf Ghani must be admired. Immediate concern of Narendra Modi must have shown the diplomacy level of Afghanistan as well. Afghanistan is developing country, and has been moving ahead in a rapid speed. The speed of Afghanistan’s development and progress should have been lesson for Nepal. Afghanistan certainly can cope up with the situation, and regard this as a lesson for better precaution in days to come. Economy of Afghanistan will be fine within few weeks for sure.

Unlike Haiti, those earthquake victims in Afghanistan certainly must not struggle for longer period of time. Earthquake also taught us to stay united during the time of need, and to show humanity. Government’s monitoring must have also counted for controlling the price hike. Huge amounts of funding were received from different countries of the world. However, the immense desire to earn and store more, needy victims was not granted enough. Leaders turned out to be greedy when they saw green dollars flowing within the country. Since, the number is less, and governance of Afghanistan is strong, these should be operated in fair and wise manner. 

Government must seriously look after to control the economy at this time. Central bank should also play significant role. We want to assure that Nepal is praying for quick recovery of earthquake victims.

 

Published in Outlook Afghanistan 31st October 2015.