Damage survey in 17 districts as per Verification Model

Kathmandu, Nov. 27
The National Reconstruction Authority (NRA) has decided to conduct the survey of the private houses and other infrastructure in the remaining 17 districts other than the worst-hit 14 as per the verification model.
The reconstruction body had signed a Memorandum of Understanding (MoU) with the Department for International Development (DFID) of the United Kingdom on 1st September to conduct the survey in those districts moderately affected by the devastating earthquake in April and May 2015.
However, the DFID has shown some reservations on the verification model of survey.
NRA spokesperson Ram Prasad Thapaliya said that the Authority wanted to conduct the survey according to the verification model which was followed while collecting the data of damaged houses in the Kathmandu valley but the DFID has shown reservations on the model.
According to verification model, the surveyor doesn’t collect the data of the damaged houses again but verifies the data collected by the government earlier – in the immediate aftermath of the quake.
“We have urged the DFID to use the verification model while assessing the damaged caused by the earthquake in the remaining 17 districts. We are in close consultation with the DFID to sort out the differences. NRA is very optimistic to begin the work soon,” said Thapaliya.
The reconstruction body and DFID will hold a meeting on Monday to sort out the reservations and differences they have on the modality of data collection.
The government has concluded the survey of damaged structures in the 14 severely hit districts including the Kathmandu Valley.
The survey was conducted by the United Nations Office for Project Services (UNOPS), with the financial assistance from the World Bank.
UNOPS is an operational arm of the UN supporting the successful implementation of peace building, humanitarian and development projects around the world.
It hired the human resources, conducted training for them and collected data.
 According to Thapaliya, the third phase of survey would also be carried out by the UNOPS with the financial assistance from the DFID.
The Ministry of Federal Affairs and Local Development (MoFALD) had asked the VDCs, municipalities and District Development Committees in the moderately hit districts to prepare the list of the households who lost their house in the tremors.
Thapaliya said that the list was ready in the districts and it would soon arrive at the NRA secretariat.
Moderately hit 17 districts include Lamjung, Chitwan, Tanahun, Khotang, Syangja, Palpa, Baglung, Gulmi, Solukhumbu, Kaski, Parbat, Myagdi, Arghakhanchi, Nawalparasi, Bhojpur, Dhankuta and Sankhuwasabha.

Secretaries directed to stay in villages 
Meanwhile, the MoFALD Sunday directed the VDC secretaries of the 14 severely hit districts to extend their services from the respective villages.
Minister for Federal Affairs and Local Development Hit Raj Pandey said that the Ministry had directed the secretaries as they were providing their services from the district headquarters though there was a huge pressure of reconstruction works at the local level.
The Ministry had issued the fresh orders to the secretaries following the concern of Prime Minister Pushpa Kamal Dahal Prachanda regarding the issue.
Meanwhile, the reconstruction body has said that the reconstruction of private houses has gained momentum as more than 15,000 houses were under construction in the severely hit districts.

ASBA from mid-January next year

Kathmandu, Nov. 26: The Securities Board of Nepal (SEBON) Saturday informed that it was implementing a new system to do away with hassles while filing applications for share procurement and make the public offerings of securities faster and more transparent.

Issuing a press statement, it said that the new system on Application Supported by Blocked Amount (ASBA) would come into effect from January 14^th next year. 

The ASBA is prepared as per the provisions of Securities Procurement (Public Offering) Directives, 2016.

According to the India Times, ASBA refers to an application mechanism for subscribing to initial public offers (IPO).

The system, which ensures that the applicant's money remains in his/her bank account till the shares are allotted, was introduced by the Securities Board of India (SEBI) for retail investors in 2008.

The system was developed by the SEBI.

The ASBA system will block the money in the share applicant's bank account until the shares are allotted.

If any share is not allotted to the applicant, the bank will unblock the money upon the instruction of the issue manager.

If the applicant is allotted the shares, the required money will be debited from his bank account.

The SEBON has called for application from the bank and financial institutions to participate in the ASBA system.

Any commercial or development bank that has maintained minimum paid up capital as prescribed by the Nepal Rastra Bank, has been in operation for last five years and earning profit for the last two years, has at least four branches in the Kathmandu Valley, and listed in the Nepal Stock Exchange Limited are eligible for the ASBA system.

The banks should also have per share net worth higher than per share paid up capital and its non-performing loan should be less than five per cent.

SEBON spokesperson Niraj Giri said that the implementation of new system would assist in structural reform in the primary market. 

Reconstruction of govt office building begins

Kathmandu, Nov. 25: The government launched the reconstruction of government office buildings under the Earthquake Emergency Assistance Project (EEAP) with financial assistance from the Asian Development Bank (ADB).

Joint secretary of the National Reconstruction Authority (NRA) Ram Prasad Thapaliya and ADB country director for Nepal Kenichi Yokoyama laid the foundation for the reconstruction of the District Forest Office in Dhading.

The government has been implementing the 232 million USD EEAP under which 200 million USD (87 per cent) is financed by the ADB.

The devastating earthquakes in April and May 2015 and subsequent aftershocks had destroyed 193 government buildings and partially damaged 510 other buildings in 31 districts.

According to a press statement issued by the ADB, one of the major components of the EEAP was the reconstruction of government building in 11 of the 14 worst-hit districts to help the government deliver public services and enhance good governance.

Other components of the project include the reconstruction of schools as well as strategic and district roads.

Speaking on the occasion, joint secretary of the Ministry of Urban Development Shiva Hari Sharma said that the government was planning to complete the rebuilding and retrofitting of government buildings within the next 3 years, in which ADB’s support was vital.

He appealed to local political leaders, government personnel, and people in the community to support all the reconstruction work to complete it on time.

Mr. Yokoyama said, “The main principle of reconstruction - build back better - will be fully adopted in the reconstruction of government buildings. Under this project, the buildings will be earthquake resilient, friendly to the differently able and the environment, spacious, well equipped, and furnished.”

He stated that efforts were also made to relocate the government buildings close to each other, following the concept of integrating government buildings as adopted in the NRA’s Reconstruction Policy.

ADB informed that in total, 8 government office buildings will be reconstructed in Dhading district.

The reconstruction will be implemented in two phases: the first includes the quarters of the Chief District Officer, District Forest Office and District Court with an estimated cost of Rs. 117 million.

The second includes the Department of Urban Development and Building Construction Division Office, District Agriculture Development Office, and District Post Office.

The EEAP has signed contracts to reconstruct 10 buildings, notifications for award have been issued for a further 10 buildings, invitations for bid have been published for 6 buildings, and the detailed engineering design for 15 buildings is ongoing.

The latter comprises 4 buildings in Gorkha, 4 in Dolakha, 1 in Ramechhap, 2 in Sindhuli and 4 in Sindhupalchowk.

NE Group donates additional Rs. 5 million to IJHTF

Kathmandu, Nov. 25: The NE Group Friday announced to contribute additional Rs. 5 million to Indra-Jawahar Health Treatment Fund (IJHTF).

The fund was established in the memory of former president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI)s late Indra Bhakta and his spouse Jawahar Devi Shrestha.

According to a press statement issued by Rabi Bhakta Shrestha, managing director of the Group and former president of the FNCCI, it had decided to provide the money to the fund on the occasion of 93^rd birth anniversary.

The Fund currently has Rs. 5 million as the revolving fund which is used for the treatment of destitute children admitted at the Department of Pediatric of the Tribhuvan University Teaching Hospital, Maharajgunj. 

“We believe that with the contribution of additional Rs. 5 million to the fund, more children who need health treatment will be benefited,” read the statement. 

Jawahar had founded the Indra-Jawahar Support Trust under which the Group is performing its corporate social responsibility works.

The Group has also established Indra Bhakta Shrestha Scholarship Fund with revolving fund of Rs. 10 million and has been providing scholarships to two intelligent and poor students to study Master of Business Administration (MBA) in TU School of Management.

It has also announced to award a gold metal to the topper of the MBA from the TU annually.

90 % jobs in informal sector: ILO

Kathmandu, Nov. 24: The International Labour Organization (ILO) Thursday said that more than 90 per cent of the economically active population in Nepal was engaged in the informal economy.

A statement issued by the ILO at Media Round Table on ‘Transition from the informal to the formal economy for decent work’ read that a majority of young people, in particular those between 15 and 19 years, depend on the informal economy for their livelihoods and are generally underemployed with inadequate earnings.

It has cited the weak regulatory framework, lack of enforcement mechanisms and insufficient skills as the barriers to the formalization of the informal businesses and employment.

“High costs of doing business, complicated processes for registration, weak accountability, inadequacy of social benefits and various forms of discrimination are also challenges to the formalization,” said ILO.

It said that in emerging and developing economies, the challenge of the transition to the formal economy was closely linked to the challenges of development, job creation and productive transformation of the economy.

It asked the government to adopt integrated strategies to address the informality.

According to the ILO, integrated strategies included measures for the creation of formals jobs, specifically designed initiatives to formalize informal jobs and units and extension of social coverage to informal workers.

“Incentives for the development or expansion of sustainable enterprises and of employment, and programmes designed to increase skills of the labour force and access to capital for productive investment, labour inspection plans and support to the formalization of low-productivity micro-enterprises, and social protection programmes that offer health care coverage and maternity protection are included in those strategies,” read the statement.

Speaking on the occasion, Head of Informal Economy Unit at the ILO Headquarters Geneva Frederic Lapeyre said that it was possible to formalize every employment as some Latin American countries like Brazil, Argentina, Paraguay, and Peru had successfully eradicated the informal employment.

He asked the Nepal government to develop a strategy for efficient coordination and administrative cooperation between the government enforcement agencies, labour inspectorates and social partners, social security authorities and tax authorities.

“Reasonable indicators are needed for the number of labour inspectors based on the size of the workforce and quality, and power for enforcement bodies should be increased,” he said.

National project coordinator of ILO in Nepal Prakash Sharma, said that agriculture, trading, craft-workers, construction, transport, tourism and micro-enterprises were the major sectors of informal economy in Nepal.

President of Joint Trade Union Coordination Centre (JTUCC) Khila Nath Dahal said that of the total 10.7 million active work force in Nepal, about 96 per cent was engaged in informal sectors.

He asked the government to utilise the welfare funds in the interest of workers. 

King's College signs MoU with Yunus Centre

Kathmandu, Nov. 24: King’s College, a business school in Kathmandu under the affiliation of Westcliff University, US, has sealed an agreement with Yunus Centre Dhaka, Bangladesh to establish ‘Yunus  Social Business Centre (YSBC)’ at King’s College, Kathmandu.

The Memorandum of Understanding (MoU), signed jointly by executive director of the college Narottam Aryal and chairman of Yunus Centre Nobel Laureate Prof. Dr. Mohammad Yunus on behalf of their respective organizations on Tuesday in Dhaka Bangladesh, envisages to develop and expand a framework of cooperation between Yunus Centre and King’s College for the formation of YSBC.

According to a press statement issued by the college, the main aim of the centre was to promote Professor Yunus’s vision of alleviating poverty by implementing the concept of social business through mutual understanding and cooperation.

“King’s College aims at promoting mutual understanding and co-operation in areas of common interest in education, research, information sharing and gathering and action plans so as to deepen an understanding of each other’s culture and value that drive business and social changes,” read the statement.  

Both the organizations will organize student and faculty exchange and learning visits so students and faculty members can learn first-hand techniques and programs which have been set up to assist the economic development of the poor in developing countries.

“King’s College has always believed in transforming Nepal through social entrepreneurship. It’s a great honour to be associated with Yunus Center and we believe this collaboration with the world’s champion is social entrepreneurship will help achieve its mission of promoting social entrepreneurship in the country,” said Aryal.  

Australia positive on issuing visa from Nepal

Kathmandu, Nov. 24: Australia is positive about making arrangements in issuing visa to Nepalese citizens from its embassy in Kathmandu.

In a meeting with the Minister for Foreign Affairs Dr. Prakash Sharan Mahat at her office in the Australian Parliament House in Canberra, his Australian counterpart Julie Bishop has assured to look into the matter.

According to a press statement issued by the Embassy of Nepal in Canberra, Bishop said that she would look into the matter positively and would consult with the concerned department to arrive at appropriate decision.

Minister Dr. Mahat had urged Australia for making arrangement in issuing visa to Nepali students and the visitors willing to visit Australia from its embassy in Kathmandu.

He also asked to increase assistance to Nepal, resumption of assistance which was cut earlier, and increase Australian investment in Energy, infrastructure and other potential areas.

He appreciated the Australian government and the people for their spontaneous support to the earthquake-affected people in the phase of rescue, recovery and relief operation and expressed sincere thanks for the commitment it had made for reconstruction and rehabilitation works.

Bishop said that Australia was willing to enhance investment in the energy sector of Nepal.

Both the ministers exchanged their views in enhancing the level of interactions through the exchange of bilateral visits.

The Australian Foreign Minister inquired about the progress made in the reconstruction and rehabilitation works.

According to the statement, both the ministers acknowledged the contribution of the Nepalese Diaspora in Australia to the economy of both Australia and Nepal and promoting people to people contact between the two countries.

Dr. Mahat met Australian Minister for International Development and the Pacific Concetta Fierravanti-Wells, where both the minister exchanged their views on future cooperation between the two countries, Bhutanese refugees and disaster management in Nepal.

He also met leader of opposition in the Senate and Shadow Minister for Foreign Affairs Penny Wong, national president of Australian Labour Party and Shadow Minister of Climate Change and Energy Mark Butler, Shadow Minister for National Security Mark Dreyfus and other members of the senate.

The Minister had reached Sydney on Wednesday. 

FMO to invest 2.38 billion in NMB Bank

Kathmandu, Nov. 23: NMB Bank Limited and FMO, a Dutch development bank, Wednesday signed a joint venture agreement for the largest foreign direct investment (FDI) in Nepal's banking sector.

The FMO will invest Rs. 2.38 billion in the bank, including the premium of the shares.

It has increased its equity investment in the company from 3 per cent to 20 per cent.

The Dutch multinational had invested in the equity of erstwhile Clean Energy Development Bank (CEDBL) which was merged with NMB via share swap along with other two smaller banks, Bhrikutee Developmetn Bank and Pathibhara Bikas Bank, and Prudential Finance Company.

The FMO had 14 per cent stake in the CEDBL which was diluted to 3 per cent after the merger.

"The merger was strongly driven and supported for more than four years by the FMO through intensive and persuasive guidance by its nominee board directors and shareholders' representatives with the intension to create a bigger platform for strengthening the financial support for the renewable energy sector in Nepal," read a joint press statement by both the companies.

Deputy governor of the Nepal Rastra Bank Chinta Mani Siwakoti said that the joint venture with the experienced international financial institution would contribute to strengthening of the entire banking industry in Nepal.

"This will set a milestone at this crucial juncture and increase the volume of FDI in the country. Increased investment by FMO in NMB not only strengthens its capital base but also will help build its institutional human capabilities with competencies," he said.

According to him, FDI plays vital role in the country's economic development which increases the capital along with the competition, technology transfer, experience-sharing and enhancing the capacity for doing business.

Chief investment officer of FMO Linda Broekhuizen said, "FMO is proud to be a pioneer FDI investor to actively support the financial sector in Nepal, thereby enabling much needed investments in the renewable energy sector decreasing carbon dioxide emissions, while helping this beautiful country grows its economy."

Chairman of the Security Board of Nepal Dr. Rewat Bahadur Karki said that the joint venture will help attract more FDI in Nepal.

Chief executive officer of NMB Bank, Upendra Poudel, said that the agreement met the NMB objectives of investing in renewable energy agri-business and other priority sectors.

"FMO will assist NMB to become market leader in managing environmental and social risks and will continue to strengthen NMB's corporate governance through a substantial technical assistance," he said.

FMO (the Netherlands Developmetn Finance Company) is one of the largest bilateral private sector development banks in the world with an investment portfolio of 9.2 billion Euros.

Its investment is largely focused on financial institutions, energy and agri-business.

Patanjali to create 10,000 jobs in Nepal

Vote banks, cause of political disturbance

Kathmandu, Nov. 22: Yoga Guru Ramdev Tuesday announced that Patanjali would create about 10,000 jobs in Nepal and not expatriate its profits to his country.

Speaking at the welcome programme organised by the Federation of Nepalese Chambers and Commerce (FNCCI), the yoga guru announced to raise investment in Patanjali Ayurved Pvt. Ltd, Nepal to Rs. 5 billion.

Currently, Patanjali has invested Rs. 1.5 billion in the company and created about 1,000 jobs.

It has established the production plant in Bara which will be inaugurated by President Bidya Devi Bhandari on Thursday. Acharya Balkrishna will also attend the inauguration ceremony.

Patanjali is developing industrial facilities for manufacturing its herbal products so as to produce goods of Rs. 10 billion in a couple of years.

The yoga guru is on a week-long visit to Nepal to inaugurate first ever Patanjali manufacturing plant outside India.

“Patanjali aims at working in the interest of the people in any country and refrains from making it only the source of income,” yogi turned entrepreneur said.

According to Ramdev, Patanjali would use Nepalese herbs and other raw materials in its products.

On the occasion, he gave some tips to the businesspersons.

“If you want to do business, make your own business and create a brand. Creating your own brand is far better than trading and running business to support other companies. However, creating a brand is a very complex process,” he said.

He suggested that entrepreneurs mastered skill in the business that they took before hiring a team and be careful in spending money on the advertisement.

“Save money from advertisement and invest it in enhancing the quality of your products,” he said.

He recommended the businessmen should not lose integrity, compromise in quality and be myopic.

FNCCI president Pashupati Murarka appreciated Ramdev’s efforts to establish the Patanjali production plant in Nepal.

“This will mobilise internal resources and help create jobs. I would like to urge guru to expand the business across the country,” he said.

Appreciating the yoga guru for his calculative business move Murarka said that Ramdev had suggested Nepalese entrepreneurs to invest in high value products and import low value products in order to achieve the higher economic growth rate.

Dr. Upendra Mahato, Nepalese partner in Patanjali, said that the country would benefit from the new production plant by utilising domestic raw materials and creating jobs.

Vote banks, cause of political disturbance

Yoga guru Ramdev also criticised the forces trying to create divisions between people from the hills and plains.

Saying that the conflict between the Madhesis and the hill origin people will have serious repercussion for the country in the near future, he said, “Some leaders are apprehensive of losing their vote banks due to the provincial demarcation. Therefore, it is not about the fear of some caste or some types of people but vote banks that have been instrumental in creating the disturbances.”

He said that the time had been changed when the people needed to follow the path of the king, now the king had to follow the voice of people.

“The disease of becoming chief minister of a province has caught some of the leaders,” he remarked.

The yoga guru expressed his commitments to narrowing down the distance created in the name of Madhesi and Pahadi people.

He also said that in the name of India and China cards, some forces were trying to damage the political and economic situation in the country further. 

'Govt should localize SDGs': UNDP

Kathmandu, Nov. 22:

Sophie Kemkhadge, Deputy Country Director, UNDP, has said that the Nepal Government should localize and institutionalize the Sustainable Development Goals (SDGs) framework as soon as possible to work towards achieving the goals and targets laid out in the agenda for the sustainable development.

Speaking at an orientation program for journalists on SDGs, Kemkhadge said the government, private sectors and all stakeholders should be on board to make sure that these goals and targets are met.

Although, Nepal was the first country to prepare National Report on SDGs documenting the national situation with the assessment of each of the 17 SDGs from national perspectives, it has failed to make significant progress due to the earthquake and the Indian blockade last year.

The SDGs, also known as the Global Goals, are a universal call to action to end poverty, protect the planet and ensure that all people enjoy peace and prosperity.

The 17 global goals, born at the United Nations Conference on Sustainable Development in Rio de Janeiro in 2012 and agreed upon by 193 countries in 2015, are built on the success of the Millennium Development Goals (MDGs) with a conclusion that more needs to be done to improve people's life in a sustainable way.

These global goals include new areas such as climate change, economic inequality, innovation, sustainable consumption, peace and justice, among other priorities, to be achieved by 2030.

Kemkhadge said said that it was the responsibilities of each member state to ensure that the goals of sustainable development are achieved.

"The UN and other institutions are here to promote SDGs, but it is predominantly the responsibility of the country to attain the SDGs," she said.

Presenting the paper on the SDGs, Basudeb Guha-Khasnobis, the senior economist of the UNDP, said that the goals were developed and adopted following a broad consultations among the stakeholders across the world, and global leaders. 

Reconstruction of 12,000 homes begins

Kathmandu, Nov. 22

The National Reconstruction Authority (NRA) Tuesday said that with the first installment of the house reconstruction grant, about 12,000 households in 11 worst quake-hit districts had begun the reconstruction of their houses. 

According to Central Programme Implementation Unit (CPIU) at the Ministry of Urban Development (MoUD), approximately 3,162 houses were being built in Nuwakot district.

Likewise, 2,143 households in Dhading, 1,583 in Sindhupalchowk, 1,214 in Dolakha and 1,124 in Gorkha are under construction.

Other districts where house reconstruction works have begun are Kavre, Ramechhap, Sindhuli, Makwanpur, Okhaldhunga and Rasuwa.

Shiva Hari Sharma, CPIU chief at the MoUD, said that the government had begun to collect the data of houses being reconstructed with the assistance from the engineers mobilised in the quake-hit districts.

According to him, people had begun to apply for the second installment of the grant, Rs. 150,000, in Sindhupalchowk, Kavre, Gorakha, Ramechhap, Makwanpur, Okhaldhunga and Rasuwa.

NRA spokesperson Ram Prasad Thapaliya said that as the reconstruction body had prepared the private house reconstruction manual, the engineers in the field could recommend for the amount of second installment. 

After the government’s announcement to increase the housing grant by Rs. 100,000, the families that lost their house in the tremors will receive the money in three installments - Rs. 50,000, Rs. 150,000 and Rs. 100,000.

The second installment amount will be deposited in the bank account of the beneficiary, after they complete the house construction up to the plinth.

According to the Ministry of Federal Affairs and Local Development, the government signed grant agreement with 470,524 households of worst hit 11 districts and deposited the first installment of the grant in the bank accounts of 432,738 families.

Minister Joshi urges int'l community to invest in Nepal

Kathmandu, Nov. 22

Minister for Industry Nabindra Raj Joshi Tuesday said that United Nations Industrial Development Organisation (UNIDO) should be able to tailor inclusive and sustainable industrialization policy and strategy commensurate with the developmental need of every member country in conformity with the objectives of the Sustainable Development Goals (SDGs).

Addressing the opening ceremony of the 44^th session of the UNIDO Industrial Development Board in Vienna, Austria, he said, “The technical assistance programme of UNIDO, in particular, should be made more responsive to the various scopes and opportunities available in the member countries.

Saying that the least developed countries (LDCs) like Nepal aspired to achieve industrialization at a more rapid and sustained pace to bring meaningful transformation in their social and economic life, Minister Joshi called for a strengthened global partnership and support for LDCs in taking effective measures to remove the weakness and constraints in their economies, manage internal and external vulnerabilities they face and attain structural transformation of their economic system.

He said that industrialization was the most crucial vehicle to achieve the end goals of poverty eradication, decent job creation, inclusive economic growth and shared prosperity.

“Nepal harbors very rich biological diversity and fresh water resources – major sources for renewable energy. We are keen to make sure that these two important resources are properly utilized as important inputs for inclusive and sustainable industrialization,” reads the Minister statement sent to media by his press advisor Pradeep Chapagain.

He informed the meeting that the country adopted a very liberal and competitive foreign investment policy regime to attract investments in infrastructure development and industrial venture.

“We expect more substantive foreign direct investment inflows and technology transfer into Nepal. For this, we look forward to strengthening our partnership with the entire spectrum of development partners,” he said.

Bilateral chambers are urged to support in trade promotion

Kathmandu, Nov. 21

Minister for Supplies Deepak Bohara has urged the bilateral chambers of commerce to play role in enhancing Nepal's international trade by export promotion in the respective countries that they represent in Nepal.

Addressing the 5^th Annual General Assembly of Nepal Vietnam Chamber of Commerce and Industry (NVCCI), Sunday, he asked the bilateral chambers and consul of other countries in Nepal to support in trade expansion and export promotion.

Minister Bohora promised to facilitate the traders and investors to ease doing business in Nepal.

Honorary consul of Vietnam to Nepal Rajesh Kazi Shrestha said that Vietnam was a fast growing economy, and had planned to be a developed nation by 2020.

"Nepalese products can have good market opportunities there. Therefore, we should study export potential of Nepalese goods there," he said.

Honorary consul general of Greece to Nepal Bikram Pandey presented a paper on the possibilities of Vietnam-Nepal Buddhist Circuit tourism.

President of NVCCI Deepak Malhotra expressed commitment to work on attracting Vietnamese investment in Nepal and resolve the problems that bilateral tourism was facing.

He said that the chamber was working on participating in bilateral and international trade fairs, seminars, investment interaction and trade promotion programmes.

The NVCCI felicitated Shrestha, who is also the president of Nepal Chamber of Commerce, for his contribution on promoting bilateral economic and trade relations between the two countries.

 In the last fiscal year, Nepal exported goods of Rs. 390 million to Vietnam and imported goods of Rs. 4.32 Billion.

Nepal exports goods such as meat, hides and wooden furniture to Vietnam, and imports goods like vegetables, coffee, prepared foods, essential oil, soap and leather apparels. 

Govt scraps agreement with Indian Consortium IL&FS

Kathmandu, Nov. 20

The joint meeting of the Development Committee and Finance Committee of the Legislature-Parliament Sunday welcomed the government's decision to scrap the agreements with the Indian consortium Infrastructure Leasing and Financial Services (IL&FS) and the Detailed Project Report (DPR) it had prepared for the construction of the Kathmandu-Terai Fast Track road.

Supporting the government decision to construct the shortest motorway to connect the capital city, Kathmandu, with the southern plains and Nepal-India border on its own, the meeting directed the government to get the decision approved by the Cabinet at the earliest.

Minister for Physical Infrastructure and Transport Ramesh Lekhak had updated the lawmakers about the government's decision to cancel all agreements and dealings with the IL&FS so far and take up the construction by itself.

He said that the ministry  had forwarded the proposal to the Cabinet for approval.

The government has allocated Rs. 10 billion for the Fast Track in the budget of the current fiscal year with the aim of building the project on its own.

The project fell into controversy following lobbying by some interest groups to involve India, and IL&FS in particular, in developing the ambitious project.

The meeting also expressed concern over the sluggish progress in the construction of the international airport at Nijgadh and asked the government to manage funds required to construct the two national pride projects.

However, speaking at the meeting, Finance Minister Krishna Bahadur Mahara gave assurances that there would be no shortage of funds for the Fast Track.

The joint meeting also concluded that the work of preparing the DPR of Nijgadh International Airport by the South Korean company LMW was not transparant and clear.

It has, therefore, asked the government to review the agreement with LMW.

As per the DPR prepared by LMW, the total cost to complete the construction of the airport was put at Rs. 670 billion in 2011. The amount was about Rs. 150 billion higher than the national budget then.

"We direct the government, Office of the Prime Minister and Council of Ministers, concerned ministries, Civil Aviation Authority of Nepal and National Planning Commission to conclude the DPR of the two projects, and clarify the development model and establish the administrative mechanism for them," reads the decision issued by the Development Committee chairman Rabindra Adhikari and Finance Committee Chiarman Prakash Jwala.

They said that although the two committees of the Parliament had continuously nudged the government and other agencies to expedite the construciton process of the Fast Track and airport for the last couple of years, there had been no noticable progress.

The meeting urged the government and line agencies to be conscious of the challenges that could emerge while constructing large national pride projects like the Fast Track and Nijgadh International Airport, conducting the Environmental Impact Assessment (EIA), and acquiring land for the project.

It directed the governement to prepare a national action plan and forge better coordination among the concerned agencies and authorities in order to achieve tangible progress while developing large infrastructure projects. 

Handicraft Trade fair to feature ICH

Kathmandu, Nov. 20: With a view to display upcoming trend of handicraft items and bring the intangible cultural heritage (ICH) to the fore, the Federation of Handicraft Associations of Nepal (FHAN) is organising a Handicraft Trade Fair in the capital from 25^th to 29^th November.

FHAN president Dharma Raj Shakya said, in a press conference, on Sunday that the introduction of intangible cultural heritages such as ritual mask dances, traditional musical orchestra, culture, cuisine and costume would give visitors an opportunity to observe, enjoy and engage with different cultural heritage of Nepal.

Handicraft entrepreneurs are planning to demonstrate items designed from Nepali handmade paper, ceramic, pashmina, wool and gold and silver products targeting the future market demand. 

The 14^th edition of the largest exhibition of handicraft products will also feature handicraft competition with live demonstration on weaving and copper art.

"The fair aims at bringing lot of opportunities to artisans and craft entrepreneurs for business promotion. It will provide a platform for B2B (business to business) meeting for international as well as domestic buyers as well as for market research for vendors, suppliers, exporters and crafts people," said Shakya.

The fair also seek to provide market access for emerging enterprises, showcase the richness of ICH and their intrinsic relationship with art and crafts, and raise awareness among stakeholders and policy makers regarding the need for safeguarding and promotion of ICH.

The fair will host exhibition of wood carving, metal crafts, handmade paper, textile, stone carving personal accessories and fashion, pashmina products, shoe, gabs and other accessories, silver and metal jewelry, bead crafts, garments and other handicraft products.

With the theme 'prospect for prosperity', the fair will include handicraft entrepreneurs from District Handicraft Associations, the Kathmandu Valley and representatives from other 25 districts.

Goods included in the National Trade Integration Strategy (NTIS) will also be incorporated in the exhibition.

"Handicraft sector has a huge potential to create large number of jobs after agriculture in the country. Handicraft items not only represent art and culture of the country, they have preserved the identity of Nepal in the international markets," said Toya Narayan Gyawali, joint secretary at the Ministry of Supplies.

Saying that the government was working and collaborating with the private sector in export promotion of Nepalese goods, he stated that the government would support the trade fairs at the local, national and international level in order to take the local goods to the international level and facilitate the technology transfer from the developed countries to Nepal.

The fair will have 176 stalls along with seven pavilions.

The organizers are expecting buyers from China, Iran, the United Arab Emirates, Bhutan, Sri Lanka and other countries.

"We are hoping for Rs. 100 million transaction during the fair and turnover of 200,000 visitors," said Shakya.

On the occasion, the FHAN will felicitate senior artists and experts Karji Ratna Shakya, Ananda Raj Shakya, Chini Kaji Shakya, Satya Mohan Joshi, Bekha Ratna Shakya, Kalu Kuma, Nema Nanda Shilpakar and Rudra Raj Shakya for their contribution in the development of handicraft sector.

The handicraft sector is one of the major contributors in Nepal's export with more than Rs. 10 billion export to more than 80 countries, and has the same amount of internal consumption.

The business has directly and indirectly employed more than 1.1 million across the country.

Himalaya Air offers Rs. 39,500 for Colombo round-trip

Kathmandu, Nov. 18

Himalaya Airlines Friday announced ‘year end special’ airfare to Colombo, Sri Lanka.

The Nepalese private sector airlines said in a press release that it had offered round trip fare Rs. 39,500 which is much lower than the normal fare of Rs. 50,041 inclusive of all government taxes.

However, the special airfare is exclusive of airport taxes, administrative and travel agent’s fee.

The Airlines was charging Rs. 29,191 for one-way flight to Colombo or vice versa.

“With the new airfares, Himalaya expects to boost tourism, trade and investment opportunities between Nepal and Sri Lanka,” read the press release.

The company has informed that travelers must issue tickets within December 31^st this year and travel within March 31^st next year to enjoy the special offer.

According to the company, travelers can carry baggage of 30 kg per passenger.

The airlines operates flights to and from Sri Lankan capital Colombo on Tuesday and Thursday every week. 

Japan Fest from 26th November

Kathmandu, Nov. 17

On the occasion of 60^th anniversary of the establishment of the diplomatic relations between Nepal and Japan is being organized on Nov. 26^th.

The festival will be organised jointly by the Embassy of Japan, Kathmandu, Japanese Association in Nepal, community group of resident Japanese, Non-Resident Nepalese Association – Japan and TBi Group.

"The festival will feature live cultural programmes by Japanese cultural team, Japanese food stalls, games, performing arts and entertainments including cultural dance, samurai, judo, karate performance, Calligraphy and origami presentations," said Hideaki Takada, chairman of the festival.

Likewise, there will be exhibition of Japanese manufacturer and service companies.

The event will be inaugurated by Japanese ambassador to Nepal Masashi Ogawa and NRNA vice-president Bhaban Bhatta.

According to the organizers, the event was being organised to celebrate and further strengthened the friendly ties between people of the two countries.

"Nepal Festival 2016 was organised by resident Nepalese in Tokyo this August. The event was attended by more than 200,000 visitors," Said Takada. 

NRA exploring sources for reconstruction budget

Kathmandu, Nov. 19: As the National Reconstruction Authority (NRA) re-estimated the total post-quake reconstruction cost at Rs. 938 billion, it is exploring possible sources and modality for the arrangement of the budget.

NRA chief executive officer Sushil Gyawali said that the reconstruction body had been in consultations with the Ministry of Finance to finalise the possible amount that the government could contribute to the reconstruction over the next five years period.

"After we get to know the exact amount of budget that the government can manage for the post-quake reconstruction works, we will finalise the money expected from the international community, and develop programme to raise the funds," said Gyawali.

In the immediate aftermath of the devastating earthquakes in May and April 2015, the government had organised International Conference on Nepal's Reconstruction (ICNR) where bilateral and multilateral agencies and other international agencies had pledged about Rs. 410 billion.

However, the actual pledged amount was Rs. 343 billion as Rs. 67 billion was for regular programmes.

According to the NRA, of the total support pledged for reconstruction and recovery, Rs. 270 billion had been confirmed through memorandum of understandings till now.

"Donors are committed to provide the money they pledged during the conference and have expressed their interest for additional support. But, there should be significant progress in the reconstruction drive," said Gyawali.

This is the third time the total cost of reconstruction has been readjusted.

The Post Disaster Need Assessment (PDNA) had estimated Rs. 669 billion budget for the reconstruction of quake-damaged houses and other infrastructure.

In July this year, the reconstruction body had prepared Post-Disaster Recovery Framework (PDRF) with detailed plan of action with the projection of Rs. 838 billion budget for five years.

The PDRF said that the budget would be spent in the areas such as private housing, public buildings, tourism, health, industry, education, heritage sites, disaster management and employment generation initiatives.

But, as the government, in September, decided to increase the housing grant by Rs. 100,000 for each recipient of housing support, the total cost for reconstruction and rehabilitation went up again.

"Apart from the additional housing grants, the government is considering to spend Rs. 100,000 for retrofitting. This will add another Rs. 80 billion to the PDRF estimate, estimating the total number of recipients at 800,000," said the NRA.

Pledges and agreements (dollars)

Agreement made         2.72 billion

Total Pledge                4.11 billion

Grant                           1.97 billion

Soft Loan                    2.14 billion

New Pledge                2.74 billion

Existing Reallocation  1.33 billion

Chinese envoy meets Dr. Mahat

Kathmandu, Nov. 19

Newly appointed Chinese ambassador to Nepal Yu Hong Saturday paid a courtesy call on Minister for Foreign Affairs Dr. Prakash Sharan Mahat.

Minister Dr. Mahat expressed happiness over the excellent state of bilateral relations between the two neighbours and reiterated the firm commitment of Nepal to the 'one China policy'.

"He stressed the importance of the frequent exchange of high level visits and meetings on various occasions between the leaders of both countries to share views and forge common position on the issues of mutual interest and concerns," read a press statement issued by the Ministry of Foreign Affairs.

The Minister also stated that the government and people of Nepal were eagerly waiting to welcome Chinese President to Nepal at the earliest convenience.

During the call on views were exchanged on the matters of mutual interest including the early implementation of the agreements and understanding reached between the two sides in recent past.

Chhori project launched

Kathmandu, Nov. 18:

With an aim to reinforce girls’ success at individual level and improve support for girls’ education at all levels, Child Reach Nepal (CRN) organized Girls Education Summit on Friday.

The summit was a part of CRN’s ‘Taught not trafficked’ initiative.

Dr. Tshering Lama, country director of Child Reach International, said that the summit was organised as a forum where key stakeholders in girl’s education in Nepal and the world could improve coordination, transparency and collaboration and learn by working to further girls’ rights and education.

On the occasion, ‘Chhori’ (daughter) project was launched which will be focused on raising awareness on menstrual health.

“The programme aims to empower adolescent girls by communicating the message of menstruation being a natural process and importance of managing proper hygiene to prevent adverse health issues. It will also focus on the production of low-cost bio-degradable sanitary pads as a part of school entrepreneurship programme,” read a statement issued by the organiser.

On the occasion, Arun Murungananthan, a social entrepreneur from India, provided a machine to Chilaune Higher Secondary School, Sindhupalchok.

Speaking on the occasion, actor Nisha Adhikari urged the families and communities to come forward to assist the young girls in order to make them stay in the school during their menstruation.

Girl students from various schools presented the situation of girls in their communities in relation to access to education and holistically keeping them safe in schools and its effects on their vulnerability to abuse and exploitation. 

'NRN won't build houses but facilitates for reconstruction'

Kathmandu, Nov. 17: The National Reconstruction Authority (NRA) chief executive officer Sushil Gyawali Thursday said that the government would support the quake-affected families in building their houses but would not build any houses for them.

His statement came amidst the mounting criticisms of the government for its failure to reconstruct the houses damaged in the devastating earthquakes in April and May last year.

"The NRA has signed contract with the Nepal Red Cross Society and other national and international humanitarian organisations for building the private houses. They have pledged Rs. 44 billion for the reconstruction of about 20,000 houses. But, approximately 1 million quake-ravaged houses are to be reconstructed," Gyawali said.

He said that it would take decades in reconstruction if the government got involved in the construction of houses.

According to Gyawali, the government should follow the principle of equity and therefore, it couldn't build houses for selected people or community.

"Instead, it facilitates to provide house construction grants to the people and the smooth supply of construction materials.

After the devastating earthquake in 2001 in Gujrat, the Gujrat government did not reconstruct the private structures but developed a policy to carry out a community-driven recovery process.

The government gave the quake-affected communities options for complete or partial reconstruction and relocation.

He was addressing a national dialogue on 'the role of the private sector in post-disaster recovery of Nepal' organised by the Confederation of Nepalese Industries (CNI) and United Nations-Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in Lalitpur.

Gyawali said that the household in the quake-affected area will have sufficient funds to reconstruct their houses as they would receive Rs. 300,000 as grant and concessional loans would be mobilised to Rs. 1.5 million and Rs. 2.5 million for each rural and urban family respectively.

He stated that the government couldn't complete the reconstruction works without support from the private sector, civil society and international agencies.

"Therefore, the NRA has got them engaged from the very beginning. Now we want the private sector to assist the reconstruction drive with the creation of skilled labour force. I also would like to urge them for the sufficient production of quality construction materials," he said.

Minister for Supplies Deepak Bohara said that the government should closely work with the private sector and development partners in order to speed up the reconstruction process.

"The private sector has better management ability which should be used in the reconstruction and rehabilitation of quake damaged structures," he said.

CNI president Hari Bhakta Sharma urged the stakeholders to join hands in creating resilient and sustainable society.

He stated that the private sector involved in the post-quake relief and rehabilitation works beyond its corporate social responsibility.

He criticised the government for charging taxes on the money deposited to the Prime Minister Disaster Relief Funds in the previous fiscal year of 2014/15.

CNI president emeritus Binod Chaudhary said that the private sector was sensitive about minimising the impact of natural disaster like earthquake.

He stated that the Chaudhary Foundation had built temporary houses, schools and launched programmes for skill development, health and drinking water.