Govt launches community-based solar street light programme

The government Sunday launched community-based solar street light programme with an aim to cover about 700 kilometer of road with solar powered light.

Deputy Prime Minister and Minister for Federal Affairs and Local Development Kamal Thapa unveiled the programme in a programme organized at the Ministry in Singhadurbar.

The programme was endorsed by the cabinet on 22^nd January.

The Rs. 1.42 billion project will install about 10,000 solar lights with battery backup in various metro and sub-metro cities, and municipalities.

DPM Thapa presented the programme as a remedy to the energy crisis which will ultimately save around 6 megawatt of electricity that is being used to light up the street lamps across the country.

The programme aims at installing the solar light at the local level with people’s participation. “It’s a partnership among the government, local bodies and people,” said Thapa.

As per the programme, government will contribute 60 per cent of the total cost to install solar street lights in the metropolitan city while the city and community need to contribute 25 per cent and 15 per cent respectively.

In case of sub metropolitan cities, the share of government, city and community will be 65, 20 and 15 per cent respectively.

In municipalities, government’s share will be 70 per cent whereas the local government and community will each chip in about 15 per cent.

“We make an appeal to the people to participate in this programme. The government has allocated Rs. 1 billion for this programme in this fiscal and Rs. 420 million will be contributed by the local government and communities,” informed DPM Thapa.

He said that if the demand was high, the government might increase the fund for this programme.

Joint secretary at the Ministry of Federal Affairs and Local Development (MoFALD), Gopi Krishna Khanal, said that the new programme was aimed at making the night life easier in the cities and reduce load-shedding.

He hinted that there could be private-public-partnership if any private companies were ready to assist to install the light as per their corporate social responsibility.

The local bodies can install the light at public places where community participation is not possible with 70 per cent government and 30 per cent their own contribution.

To coordinate, facilitate and guide the programme, a Minister of State at MoFALD-led central programme coordination committee has been formed which also include secretary of the Ministry and joint secretaries of the National Planning Commission, Ministry of Finance, Ministry of Urban Development, Ministry of Science and Technology, Ministry of Population and Environment and MoFALD and chief of Alternative Energy Promotion Centre, Nepal Electricity Authority, Department of Roads and Renewable Energy Test Station.

Preparations sped up for PM Oli's India Visit

Both the governments in Nepal and India have sped up the preparations for Prime Minister KP Sharma Oli’s India visit.

Finance Minister Bishnu Prasad Paudel is leaving for India at the invitation of Indian External Affairs Minister Sushma Swaraj on 7^th February to make necessary arrangements for the PM’s maiden foreign visit.

“We received an invitation from Swaraj on Friday for the Finance Minister’s visit. He will leave for India on 7^th February and conclude his visit on 9^th,” informed Paudel’s press advisor Mohan Chapagain.

He said that the visit would focus on the preparations for PM Oli’s India visit.

The date and details of PM’s visit will be finalized during Paudel’s visit.

Minister Paudel will meet Swaraj and Finance Minister Arun Jaitley during his visit and will discuss about Nepal’s post-quake reconstruction, bilateral trade and economic cooperation and other pertinent issues.

According to Ministry of Finance, there were chances of Paudel meeting with Indian business community and investors. Embassy of Nepal in New Delhi is organizing an interaction programme in order to facilitate the Minister to discuss with the Indian business community.

Paudel may also meet Indian Prime Minister Narnendra Modi, said the Ministry sources.

Minister for Foreign Affairs Kamal Thapa had already visited India twice after assuming the post four months ago.

Prime Minister Oli had been reiterating that he wouldn’t visit the southern neighbour until it lifted the blockade and eased the supply of essential goods.

“However, as India has signaled that it will ease the supply by the second week of February, he is positive about the visit to India,” informed PM’s secretariat.

It is learnt that the PM won't  visit India if the blockade is not lifted. 

Nepal appoints Consul for Saint Petersburg

The government appointed Alexander V. Terentev, Russian businessman and hotelier, as the Honorary Consul of Nepal for saint Petersburg, Russia.

According to a press statement issued by the Embassy of Nepal on Moscow, Nepalese ambassador to the Russian Federation, Ravi Mohan Sapkota Kopila, inaugurated the Office of the Honorary Consul of Nepal in Saint Petersburg on Monday.

Sapkota said that the opening of Office has added one more brick to Nepal-Russia relations.

“It will not only increase the number of tourists to Nepal from Russia but will also create new avenues vis-à-vis trade and investment.”

Vladimir V. Zapevalov, representative of Ministry of Foreign Affairs of Russia in Saint Petersburg, welcomed and congratulated Terentev on the occasion and said that it was a good move of Nepal in enhancing relations between the two countries.

Terentev thanked government of Nepal for entrusting him with the new responsibility and expressed his commitment that he would leave no stone unturned to work for the betterment of Nepal and Nepalis.

He also said that he was ready to take necessary steps required to increase the flow of Russian tourists to Nepal, and also the trade and investment. 

Nepal 4 steps down in Corruption Index

Nepal continues to slip on Corruption Perception Index (CPI) for consecutive third year with a fall from 126^th position in 2014 to 130^th in 2015.  

According to a report made public Wednesday by the Berlin-based corruption watchdog, Transparency International (TI), Nepal scored 27 out of 100 marks, remaining as one of the most corrupt countries in the world.

The TI surveyed 168 countries across the globe.

In CPI 2014, Nepal was positioned at 126 with 29 score. It’s score in 2013 was 31.

CPI measures the corruption in any country in 100 full marks and high scoring countries are considered as less corrupt.

Countries that secured 100 are considered as the cleanest and countries obtaining scores below 50 are considered seriously affected by corruption.

Northern Europe emerged well in the index with four countries from this region being in the top five positions.

The top five positions are hold by Denmark, Finland, Sweden, New Zealand, Netherlands and Norway respectively while North Korea and Somalia rank last on the Index.

Afghanistan, Sudan, South Sudan and Angola are the other worst corrupt countries.

In South Asia, Bhutan is the least corrupt country – 27^th position.

India ranks at 38, Pakistan 117, Bangladesh 139 and Sri Lanka 83.

World major economies China ranks at 83^rd position, the United States 16^th, Japan 18^th, the United Kingdom 10^th, Russia 119^th, France 23^rd and Canada 9^th.

Based on expert opinion, the CPI measures the perceived levels of public sector corruption worldwide. 

Published in The Rising Nepal, January 28, 2016.

SEBON wants more clearing banks

The Security Board of Nepal (SEBON) Wednesday directed Nepal Stock Exchange (NEPSE) and CDS and Clearing (CDSC) to establish at least three new clearing banks by 13^th April this year.

The SEBON has directed NEPSE and CDSC to make provisions for the clearing banks on the basis of

Securities Transaction and Clearing Bylaws, 2012.

“As the size of capital market is ever increasing and clearing service needed to be more competitive, qualitative and fast, we need more clearing banks,” SEBON spokesperson Niraj Giri said in a statement.

The first CDSC came into existence in 31^st March 2011, after about 22 years NEPSE opened its floor in January 1994. Until then clearing was operated by NEPSE itself.

It is promoted by NEPSE and is a sole provider of centralized depository, clearing and settlement services in the country.

According to SEBON, the number of securities transaction was increased to manifold in the last decade and with the implementation of dematerialization, number of share transaction and money would be further augmented.

In addition to that, securities brokers were on the process of establish and operate Remote Work Station outside the Kathmandu Valley which would further enlarge the market.

“We had one clearing bank when the capital market transaction was Rs. 10 million per day and the same bank has the load of about Rs. 500 million a day. Therefore, more clearing banks are required,” read the statement.

SEBON has expressed its hope that the increased number of clearing banks would help in online transactions in the future.

Likewise, it has asked the NEPSE to publish the price-sensitive information of listed companies in a standard format at the earliest.

Published in The Rising Nepal. Jan 28, 2016.  

'Govt committed to capital market reform'

Kathmandu, Jan. 4: Finance Minister Bishnu Prasad Paudel Monday expressed the government's commitment for reform and strengthening the capital market.

Addressing the 21^st Annual General Assembly of the Stock Brokers Association of Nepal (SBAN) in the capital, he said that the government was ready for any policy, structural and technological reforms in order to make the capital market more efficient and modern.

"Let's sit together to find the ways to strengthen the market. I urge the SBAN, Nepal Stock Exchange (NEPSE) and Securities Board of Nepal (SEBON) to sit together for the discussion. A representative from the Finance Ministry will also participate in the discussion," Minister Paudel said.

Saying the capital market was more concentrated on bank, finance and insurance sector, he stressed on the need to diversify the market.

He said that the brokers were the crucial part in the development of the capital market. "Brokers should work for raising awareness about the capital market in the general masses."

Dr. Rewat Bahadur Karki, chairman of the SEBON, asked the brokers to be more competitive and provide quality services to the investors.

"Brokers are scared of losing their business as the SEBON is positive towards allowing the Banks to run trading terminal. But, they shouldn't be apprehensive because the provision was announced in 2006."

Dr. karki said that the brokers should be allowed to operate the margin lending facility.

 NEPSE chairman Ramji Regmi informed that the NEPSE was planning to expand trading terminal outside the valley, too.

"NEPSE has 231 listed companies and 131 of them have dematerialized their shares. Total market capitalization is Rs. 12.32 billion," he said.

Priya Raj Regmi, President of SBAN pointed out structural, legal and technological lapses that hampered in the growth of the capital market.

He asked the government to allow them to run margin trading, investors training and consultation services, investment management services and broker dealership in order to develop them into full fledged broker.

"If the regulator allowed the brokers to have foreign strategic partner with their technology and capital, they would impart services as par the regional and international level," he stated.

Regmi said that the capital market regulation was weak in Nepal and demanded to add new tools like Options, Futures and Warrants in the capital market on the basis of NEPSE index and listed companies.

"In order to make the secondary market more credible, Clearing House with Settlement Guarantee Fund and Auction Market should be established as soon as possible."

Dr. Fatta Bahadur KC, chairman of Beema Samiti (Insurance Board – IB), stressed on the need to reform the capital market.

Prakash Jwala, chairman of the legislature-parliament's Finance Committee, Pashupati Murarka, president of the Federation of Nepalese Chambers of Commerce and Industry and Upendra Poudyal, president of Nepal Bankers Association also addressed the AGM.

;line-height:115%;font-family:"Times New Roman","serif"'>He appreciated the department for its cooperation and coordination with the private sector to ease the import and export of goods during the blockade and stressed for a strong cooperation between the FNCCI and DoC in order to reduce the non-tariff expenses.
President of Confederation of Nepalese Industries (CNI) Narendra Basnyat suggested to involve the private sector in the customs reform process.
The department felicitated the FNCCI, its former director generals Tika Dutta Niraula and Ran Bahadur Shrestha, employee Ram Dutta Bhatta and journalist of Karobar Daily Mohan Gurung on the occasion. 

Govt to further the process of Revenue Board

Lalitpur, Jan. 26: Finance Minister Bishnu Prasad Paudel Tuesday said that the government was ready to discuss about the further process of establishing the Central Revenue Board (CRB).

Addressing a special programme organized by the Department of Customs (DoC) on the occasion of 64^th International Customs Day, Minister Paudel stated that if the formation of board could address the problems in the revenue sector, then the government would expedite the process in coordination with the private sector and other stakeholders.

It's been more than 6 years since the idea of CRB was floated.

The government had formed a high-level committee to advise on the formation of CRB in 2009. Then Finance Minister Surendra Pandey had announced to form CRB in his budget speech for the fiscal year 2009-10.

When former finance secretary Krishna Hari Baskota, who is also chief commissioner of the Information Commission, demanded the government move further the process of establishing an autonomous CRB, Minister Paudel announced to initiate discussion about the Board.

He informed that the present supply crisis would not stay long.

"The demands of the agitating forces have been fulfilled with the first amendment of the constitution and we hope that the disruptions at the Nepal-India border will end soon."

According to him, the government had lost about Rs. 52 billion in revenue in the past 4 months.

Baskota suggested the government using at least 1 per cent of the total revenue collected to distribute incentives to the staff of the DoC and build custom infrastructure.

"Probably, Nepal is the country that has poorest custom infrastructure in the world," he said.

Director General of the DoC Shirshir Kumar Dhungana informed that the department had various reform plans on the cards.

"We will soon adopt the ASYCUDA (Automated System for Customs Data) Automated System for Customs Data online system in the customs. Likewise, a work procedure for clearing the relief materials swiftly is on the final stage."

The department launched ASYDUDA World and Revenue Exemption Module under Nepal Customs Automation System (NECAS).

It also expanded the IP (internet protocol) camera to different customs. With this expansion, nine customs offices are under the direct surveillance of the IP camera.

Finance Minister Paudel inaugurated those services and released customs song – written by Ram Hari Aryal, composed by Shakti Ballav and sung by Sumit Khadka and Rita KC.

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Pashupati Murarka said that the new technology adopted by the DoC would facilitate the traders and whole business community would be benefitted by it.

He appreciated the department for its cooperation and coordination with the private sector to ease the import and export of goods during the blockade and stressed for a strong cooperation between the FNCCI and DoC in order to reduce the non-tariff expenses.

President of Confederation of Nepalese Industries (CNI) Narendra Basnyat suggested to involve the private sector in the customs reform process.

The department felicitated the FNCCI, its former director generals Tika Dutta Niraula and Ran Bahadur Shrestha, employee Ram Dutta Bhatta and journalist of Karobar Daily Mohan Gurung on the occasion. 

Optical fibre in Mid-Hill Highway from RTDF Money

The government has initiated process to utilize the Rural Telecommunication Development Fund (RTDF)’s money to lay optical fibre cable (OFC) along the Mid-Hill Highway.

Minster for Information and Communication Sherdhan Rai while speaking at the Legislature-Parliament’s Development Committee meeting Tuesday, informed that the government was planning to develop the Mid-Hill Highway as an optical highway.

An OFC is a flexible, transparent fibre made by drawing glass or plastic to a diameter slightly thicker than human hair which is capable of transmitting data over longer distances at higher bandwidths than wire cables.

“Mid-Hill Highway is strategically important to link the headquarters of the remote hill and mountain districts. We need to expand internet services to every corner of the country in order to develop e-Governance, smart cities and e-Education and e-Health,” he said.

The 1,776 kilometre long Mid-Hill Highway, also named as Pushpalal Highway, links Chiyobhanjyang at Nepal-India border in Panchthar to Jhulaghat at Mahakali River in

Baitadi.

Minister Rai said that a study would be commenced soon to find out the practicality and feasibility of blending the infrastructure and technology used by Magsaysay Award winner Mahabir Pun in Myagdi district.

The government is planning to develop Myagdi as a free wi-fi district.

According to the Nepal Telecom Authority (NTA) it would be a pilot project which would be extended to other districts in the near future.

The government had been long facing criticism for being unable to utilize the RTDF which has approximately Rs. 12 billion.

Every telecommunication companies operating in Nepal should deposit 2 per cent of their annual income to the Fund.

The fund was to be used for the development, extension and operation of the Telecommunication service in the rural areas.

It was established to expand basic telephone services to 1,200 VDCs that were out of the telecommunication network.

“The target was met by 2011. Then the RTDF policy was changed in 2013 which allowed to use the resource in the Fund to be invested in infrastructure projects,” said Purushottam Khanal, director of NTA.

NTA chairman Digambar Jha said that the Authority was planning to bring 60 per cent population of the country and all district headquarters into the OFC network by 208.

“By 2020, the country would be in the OFC network. 14 districts severely-hit by the April 25 earthquake are in the priority and internet will reach there by the end of this year.”

In 2014, the government had decided to initiate projects like ‘connect a school, connect a community’, district optical fibre project, ICT friendly VDC by utilizing the RTDF money.

A committee was formed with a mandate to mobilize the resource of the RTDF in the same year.

NTA has called for international consultant to recommend the geo-friendly telecom technology for the hill and mountain region in Nepal.

“We are on the final stage of selecting the consultant. The consultant will recommend appropriate technology for Nepal and also study the feasibility of OFC expansion to the district headquarters,” said Jha.

Meanwhile, Buddhi Acharya, managing director of Nepal Telecom, said that the process to connect southern and northern border with internet bandwidth was on the final stage.

Erim Taylanlar, chief executive officer of Ncell, informed that Ncell was collaborating with Telecom in the project.

'Use RTDF to expand internet to schools'

The Legislature-Parliament’s Development Committee Tuesday directed the Ministry of Information and Communications, Nepal Telecom Authority (NTA) and telecom service provider companies to expedite the work to bring every Village Development Committee, school and hospital into the reach of internet within a year.

Committee Chairman Rabindra Adhikari directed the government to utilize the resources of the Rural Telecommunication Fund, if required.

He specially directed the Minister for Information and Communications Sherdhan Rai to make necessary arrangements to supply energy or fuel to Ncell at the earliest after the telecom service provider complained that it would be forced to shut down its services if it didn’t get diesel by Friday evening.

Saying that the quality service is consumer’s right, the committee directed the telecom service provider companies to maintain transparency in service charge, provide quality service, remove all invisible charges and asked the regulator, NTA, for effective monitoring in this regard.

The committee directed the Nepal Telecom to find the solution of problems that customers were facing while recharging their pre-paid phone.