'Bhagbanda' affecting implementation of dev. projects

Kathmandu, Feb. 26: Total sovereign portfolio of the Asian Development Bank (ADB) in Nepal has reached 2 billion US dollars with 1658.4 million dollars loan, 328.4 million dollars grant and 34.9 million dollars equivalent technical assistance.

According to Sarosh Khan, head of Portfolio Management Unit at the ADB Nepal Resident Mission, there are 25 loans, 21 grants and 22 technical assistances ongoing for 34 projects.

By the end of 2016, ADB’s cumulative assistance since its operation in 1969 in Nepal, stands at 4.9 billion USD.

Major chunk of ADB’s support goes to water and urban development, transport and energy projects.

“Of the total ADB active portfolio in Nepal, 30 per cent goes to water and urban development projects, 22 per cent each goes to transport and energy projects,” said Khan while speaking at 2016 Tripartite Portfolio Review Meeting on Sunday.

Likewise, Earthquake Emergency Assistance Project (EEAP) has 10 per cent portfolio in ADB’s support, education has 7 per cent, agriculture and natural resources has 6 per cent and other small projects have 3 per cent assistance.

However, contract of the projects and disbursement of the assistance money have been sluggish following the trend of previous years.

“Although Nepal’s portfolio performance has improved in 2016, challenges remain. Of the active portfolio, 44 percent or 883 million dollars is un-contracted and 1.3 billion remains undisbursed,” said deputy director general of ADB’s South Asia Department Diwesh Sharan.

In 2016, Nepal’s financial performance of ADB portfolio in terms of contract award was 359 million dollars and disbursement was 202 million dollars, both highest in ADB’s operational history in Nepal.

“We had 414 million USD target for contract award and 369 million dollars – 89 per cent – was achieved,” said Khan.

Transport, EEAP and water and urban development projects couldn’t meet the target of contract award.

ADB country director for Nepal Kenichi Yokoyama said that the performance was poor due to incompetent project directors.

“It is of critical importance to have competent project directors. There is a very high correlation between the strong project leadership and the performance of the project. The rapid progress of flagship projects such as Melamchi Water Supply Project and SASEC Power and Transport project are testament to this,” said Yokoyama.

He urged the policy makers and the media to advocate and ensure that project directors of high priority projects are deployed from among the most competent staffs of the implementing agencies.

According to him, the practice ‘bhagbanda’ must be refrained by all means in order to ensure timely project execution.

Secretary of the Ministry of Finance (MoF) Shanta Raj Subedi pointed towards the lack of enough preparation of the project documentation before its execution as one of the major behind poor performance and delay.

Saying that the project implementation could be supported by meaningful monitoring, he directed the concerned government agencies to intensify monitoring of the development projects, and also urged the ADB to enhance monitoring.

Chief of International Economic Cooperation and Coordination Division at the MoF Baikuntha Aryal said that there were problems in every step of the project implementation from its readiness to interagency coordination.

“In addition, we have socio-political issues, poor monitoring and supervision and resource constraints. Some development partners create problems by engaging themselves in to much nitty-gritty,” he said.

Meanwhile, the ADB has awarded the Melamchi Water Supply Project as the Best Management Team for 2016. Kathmandu Valley Water Supply Improvement Project Project and SASEC Power System Expansion Project were the runner ups. 

500 investors to participate in the Investment Summit

Kathmandu, Feb. 26: The government has decided to include nine major investment areas in the Nepal Investment Summit, slated for March 2 and 3 in Kathmandu.

Investment sectors with high yield potential, such as energy and infrastructure, information and information technology, tourism, financial sector, mines and minerals, and agro-processing industry will be discussed in the summit.

“To attract investors, we have selected the areas of comparative and competitive advantage. The government has prepared the details of the potential projects in those sectors,” said Minister fro Industry Nabindra Raj Joshi while speaking at a press conference organised on the eve of the summit.

According to the Ministry, more than 500 investors will participate in the two-day conference.

“Till now, 235 foreign companies have registered to participate in the summit. Of them 89 are Chinese, 21 Indian, 20 Sri Lankan, 14 Malaysian, 13 Japanese, 12 Canadian, 12 Hong Konger, and eight each from the United Kingdom, South Korea and Vietnam,” said Joshi.

More than 300 Nepalese investors will also participate in the summit.  

The Minister said that more than Rs. 100 billion investment commitment was expected from the summit.

“During my various foreign trips, I found that many foreign investors are interested to invest in Nepal. Therefore, we need to find a better way to bring them there,” he said.

To implement the commitments and decisions made during the summit, the government has formed four committees under Ministry of Finance, National Planning Commission, Investment Board of Nepal and Ministry of Industry.

They are Project Bank Revision Committee, Policy Reform Committee, Industrial Promotion Committee and Overall Coordination Committee respectively.

The conference is being organised with the theme of ‘Harnessing Investment Opportunities in Nepal’ and with the objective of luring foreign investors by promoting various business and investment opportunities in the country.

The Investment Board of Nepal is the coorganiser of the event.

The Summit will be inaugurated by Prime Minister Pushpa Kamal Dahal, and Indian Finance Minister Arun Jaitley and president of Asian Infrastructure Investment Bank (AIIB) Jin Liqun will deliver key note speeches. 

King's Hamro Utsav from Tuesday

Kathmandu, Feb. 26: Kings College is hosting Hamro Utsav, a festival of education, entrepreneurship and entertainment, from February 28 to March 1 in Kathmandu.

This is the second edition of the festival which provides a platform to showcase the talent of students through various activities aiming to harness entrepreneurial ability, said Narottam Aryal, principal and executive director of the college.

“Hamro Utsav is an extensive competition among the students of the country. We believe in growing bigger, reaching more people and getting better every time to make a difference in celebration of students’ diversity,” he said.

According to the college, the event, managed by King’s Club, aspires to bring forward more than 500 students from 17 colleges of various streams such as Science, Management, Education, Fashion, Humanities from all over Nepal.

The festival will feature stock market challenge, social media marketing, business plan writing competition, quizzes, human relations challenge, mad ads, entrepreneurial exhibition, college icon and event planning competition.

It will also include creative and entertainment programmes like short movie competition, thematic photography competition, and battle of bands, dance competition, painting, sketching, junk arts and event planning competition. 

NIBL completes 30 years of service

Kathmandu, Feb. 26: Nepal Investment Bank Limited (NIBL) has completed 30 years of banking.

“Established in 1986, the bank received the prestigious ‘Bank of the Year’ award for the fifth time this year. It is the first bank to fulfill the Rs. 8 billion paid-up capital requirement for ‘A’ class commercial banks set by Nepal Rastra Bank,” said the bank in a press statement, Sunday.

According to NRB provisions, all ‘A’ class banks should meet the criteria of having Rs. 8 billion paid-up capital by the end of this fiscal year.

In the last fiscal 2015/16, the bank had earned a Rs. 4.13 billion operational profit and Rs. 2.55 billion net profit, which were about 32.6 per cent and 30 per cent higher than the previous fiscal respectively.

The bank said that by the end of the second quarter of the current fiscal the bank has earned Rs. 1.58 billion net profit.

NIBL has Rs. 8.71 billion paid-up capital and a Rs. 18 billion shareholders fund, which makes it the largest private sector bank in the country.

It has 0.70 non-performing loans.

The bank reaches out to 7,50,000 customers through 47 branches, two extension counters, 84 ATMs and 42 branchless banking.

UML will endorse amendment - PM's Advisor

Kathmandu, Feb. 25: Chakrapani Khanal, chief political advisor to Prime Minister Pushpa Kamal Dahal Prachanda, Saturday said that the preparations were underway to endorse the constitution amendment bill with the support of main opposition party CPN-UML.

Speaking at an interaction programme here, he claimed that the amendment proposal would be approved by the Legislature-Parliament within a month.

“However, consultations are going on regarding the process of the voting. If we go for a secret voting, the government will have a two-thirds majority. We have the required number of votes. But, the amendment will be passed with UML’s support and all parties will participate in the election with a broader consensus,” he said.

He claimed that consensus was being forged between PM Prachanda and UML chair KP Sharma Oli.

Khanal also said that though there was no possibility of forming a leftist alliance, such initiatives might be materialised in the future.

 “If situation demands for a leftist alliance, this can also be mulled over since the government is ready to adopt every possible strategy to get the amendment proposal passed. The talks with the UML are positive in this regard,” he said.

According to Khanal, the CPN-Maoist Centre would not break the alliance with the Nepali Congress at present and the leadership would be handed over after the local level election.

“The election will be held on May 14 at any cost. The government is committed to holding the polls and will deal with every challenge that comes in the way of the poll. There shouldn’t any excuse against the election,” he stated.

UML leader Dr. Bansidhar Mishra said that the main opposition party would not disturb the constitution amendment process in order to take it to a conclusion.

“Our party is clear that to remove obstacles to the election, the amendment proposal should be allowed into the process, and the Madhesi Morcha should accept the result and show flexibility in this regard,” he said.

According to Dr. Mishra, to find the meeting point to solve a problem, dialogue should be continued.

Urging the Morcha to show flexibility as the UML was flexible enough to let the amendment proposal enter the process in the parliament, he reiterated that his party would work not to let the proposal pass from the parliament.

He challenged the Morcha to prove their mettle by participating in the election.

NC leader NP Saud said that the election would take place happen even if the Morcha did not participate in it.

“Elections should be held at any cost. The country has already thrown itself into the election,” he said.

Saud remarked that his party would put every effort to pass the amendment proposal and make elections happen.

“The UML will also come on board to support the proposal and it will be passed. The government will conduct the local elections on the scheduled date,” he said.

However, leader of Morcha Manish Suman stated that the Madhesi alliance would pull out of its support to the government within 48 hours.

According to Suman, the Morcha would not participate in the elections if the amendment proposal was passed as it is. 

Japan interested to invest in herbal industry in Nepal

Kathmandu, Feb. 24:

Japan has shown interest in investing in the herbal industry and in an environment-friendly industrial zone in Nepal, the Ministry of Industry (MoI) said Friday.

In separate meetings with the Minister for Industry Nabindra Raj Joshi on Thursday in Tokyo, Japanese State Minister of Environment Ito Tadahiko and ruling Liberal Democratic Party's secretary-general Nikai Toshihiro had expressed their commitment to support Nepal in its industrialisation initiative.

Minister Joshi is on a week-long visit of Japan. He was scheduled to return to Kathmandu Friday evening.

The Japanese leaders said that they were ready to extend support to Nepal through the Japanese think-tank Aria.

"We are interested to make investment in waste management and herbal industry and industrial zones," the statement quoted the leaders as saying.

They also pledged to provide additional assistance for post-quake reconstruction.

Saying that Nepal was ready to facilitate the investors at every front with favourable policies and a simple process, minister Joshi urged the Japanese leaders to invest in the country to exploit the market potential of two of the worlds' largest markets – India and China – through Nepal.

In response, the Japanese leaders expressed commitment to participate in the Investment Summit being organised on May 2 and 3.

The government is organising the Investment Summit with the aim of luring foreign investors by promoting various business and investment opportunities in the country.

Investment sectors with high-yield potential, such as energy and infrastructure, information and communication technology, tourism, financial sector, mines and minerals, and agro-processing industry will be the topics of discussion at the summit.

Meanwhile, the MoI and Non-Resident Nepalese Association (NRNA) Japan signed a Memorandum of Understanding (MoU) to promote Nepalese products in Japan and other countries.

Minister Joshi and president of NRNA Japan Sudan Thapa signed the agreement.

Deputy governor of Nepal Rastra Bank Chintamani Siwakoti, charge d'affairs at the Embassy of Nepal, Tokyo Krishna Chandra Aryal, NRNA vice-president Bhaban Bhatta, NRNA Asia-Pacific coordinator Kiran Bikram Thapa were present on the occasion.

According to the statement issued by the ministry, the NRNA will work to enhance the market of Nepalese products and promote them in various countries while the government will extend the necessary support.

"If the Nepalese diaspora used Nepal-made goods rather than foreign products, it would contribute in the industrial development and employment generation in the country. It may inspire the youth seeking employment abroad to return to the country as well," said minister Joshi.

Addressing an interaction on 'Nepal's industrial development and the role of Non-Resident Nepalese in promoting products' in Tokyo, he said that the government was committed to attracting both domestic and foreign direct investment, and underlined that various policy reforms had been initiated so as to create an investment and doing business environment.

He said that preparations to register businesses and provide license online were in the final stage.

Deputy governor Siwakoti expressed concerns towards the increasing gap between export and import and urged the NRNs to invest in the country.

NRNA vice-president Bhatta said that as the Nepalese could promote Nepal-made goods effectively, NRNs across the globe should be united in this campaign. 

HImalaya directly flies to Yangon

Kathmandu, Feb. 24:

Himalaya Airlines, a Nepal-China joint venture, launched its scheduled direct flight to Yangon, Myanmar on Friday carrying passengers directly to the destination.

"We see it as an initiative to strengthen direct connection of about 300,000 Nepalese in Myanmar to visit their homeland," said the airlines company in a press statement.

According to the company, the first scheduled flight flew from Tribhuvan International Airport, Kathmandu and touched down at Yangon International Airport bringing both cities closer to boost tourism, trade and investment opportunities between Nepal and Myanmar.

Yangon is the fourth destination the airlines is connected with.  

With the launch of twice-a-week passenger service (Monday and Friday), Himalaya Airlines has re-established direct links of Nepali capital with Myanmar after  a gap of more than 2 decades.

Ambassador of Myanmar to Nepal Lwin Oo, joint-secretary of Ministry of Culture, Tourism and Civil Aviation (MOCTCA) Suresh Acharya, and vice-president- Administration of Himalaya Airlines Vijay Shrestha were also on the board of flight that left for Yangon.

“We are thrilled to mark another milestone in our commitment to serve Nepalese tourism industry by increasing Nepal’s air connectivity in Asiatic region. We are confident we will be able to further position Yangon as a preferred destination through our marketing efforts to promote this route,” said Shrestha.

The launching airfare for Kathmandu - Yangon- Kathmandu flight starts from Rs. 29,600.00 (round trip), plus government taxes.

The airline has appointed Unique Asia Travel and Tours Co. Ltd as its General Sales Agents (GSA) for Myanmar. 

FCGO making payment into the bank account

Kathmandu, Feb. 23: The Financial Comptroller General Office (FCGO) has been making arrangements to launch a new system which will enable the government agencies to make payments to concerned parties directly to the bank accounts of the latter.  

According to Financial Comptroller General Rajendra Prasad Nepal, the new digital system is supported by the Treasury Single Account (TSA) and will go to piloting from Sunday, February 26.

“After the implementation of this technology enabled system, District Treasury Controller Office (DTCO) can deposit the money directly in to the bank accounts of the concerned companies, firms and organizations upon receiving the payment orders from the respective government agencies,” said Nepal while speaking at a press meet organized by the FCGO, Thursday.

In the first phase, the FCGO is launching the new system as a pilot project in 66 offices, including ministries and central secretariat of other government agencies at Singha Durbar.

The government has already directed the FCGO to implement the new system.

Spokesperson of the FCGO Kewal Prasad Bhandari said that the new system would make the government payment fast and simple, and reduce cost on the part of banks.

“But, until the digital signature is fully implemented, the government agencies should send the hard copy of payment orders. Since the digital signature increases the cost per transaction, it will take a while to implement it,” said Bhandari.

He also said that the payment could only be deposited into the account maintained at the banks that are the members of the Nepal Clearing House Limited Interbank Payment System.

Currently, the government is making payment to the concerned parties with account payee cheque after receiving the bill from the latter.

Sometimes, it takes weeks to complete the necessary works and make payment.

The new system informs the government agencies which make payment order through notifications through TSA system.

The FCGO is the main government agency responsible for the treasury operation of Government of Nepal.

It is responsible for overseeing all government expenditures, tracking revenue collection and other receipts and preparation of consolidated financial statements of the government.

ICA Training Centre in Kathmandu

Kathmandu, Feb. 23: With an aim of providing space and skill for human development through training and development, an ICA Training Centre has been launched in Kathmandu.

“The centre has been created with an aim to build people’s required capacities to develop organisation and nation. The mission of ICA Training Centre is to provide facility for training and human capacity building,” said Sudip Koirala, chief executive officer of the centre.

With the objective of providing space for learning, the ICA has established training and boarding venue in various countries such as USA, Belgium, Chile, India and Nepal.

The centre is associated with ICA Nepal which has about 20 years of experience in building human capacities by providing trainings and conducting community development programs.

“We provide support to the young entrepreneurs on business incubation service with ideas, mentoring networks, financial arrangement and other services to help their business grown.  To meet these objectives, we are supporting new entrepreneur project which is built to develop e- commerce facilities in Nepalese market,” said Koirala.

The name of the project is HandPro Support Service which provides complete home maintenance solution.

According to Koirala, the centre has the training halls, accommodation facilities, conference halls and a restaurant on its premises

It has 6 training halls with the capacity of accommodating 20 to 100 people.

Apart from providing space for trainings and other supports, the centre also provides different skilled trainings.

The ICA Training Centre is affiliated to European Technical and Vocational Academy and Lincoln University, Malaysia.

MF Summit in March

Kathmandu, Feb. 22: Fourth Microfinance Summit Nepal, 2017 has been slated for March 15 to 17 in Kathmandu.

“The summit will explore various perspectives on understanding the microfinance sector and resolving various problems the sector has been facing, and will deliberate on various issues, challenges and effective collaboration and coordination among various stakeholders, including the regulator,” said Pitambar Prasad Acharya, chairman of the Summit Steering Committee.

The conference will be organised with the theme ‘balancing financial, social and human values’.

“We will assess the impact of policies pertaining to the microfinance sector and regulator’s directives on the business and performance of the microfinance companies,” said Acharya.

He said that about 800 participants, including policy makers, consumers, national and international partners, bankers, microfinance bank and financial institutions, Financial Intermediary Non-Government Organizations, cooperatives, small farmers groups and experts will attend the three-day summit.

Work papers on the topics, such as current status of microfinance, assessing Nepalese microfinance in the context of South Asia, use of modern technology, entrepreneurship development, innovative use of insurance, value chain, financial literacy, poverty alleviation, financial effectiveness and institutional development, will be presented in the summit.

It will have 28 various sessions to deliberate on those topics.

“The experts and stakeholders will also assess the progress made in the implementation of the commitment made at the third Microfinance Summit four years ago,” read a press statement issued by the organizers.

“Multiple stakeholders will come together in a cooperative forum to build on their strengths and similarities, thus improving the microfinance sector as a whole. The Summit will unite global experiences and Nepalese innovations in microfinance, allowing participants to learn from current successes and implement them across the country and around the world,” said Genesh Bahadur Thapa, chairman of the Centre for Microfinance (CMF).

The summit will be organised by the CMF in collaboration with the Nepal Rastra Bank and Saksham Programme.

Other organizers include Microfinance Bankers Association, Poverty Alleviation, Youth and Small Entrepreneurs Self-Employment Fund, Sana Kisan Bikas Bank, Ministry of Cooperatives and Poverty Alleviation, Deprosc Nepal, Mercy Core, National Planning Commission, National Cooperative Development Board, First Microfinance Bank, Society of Economic Journalists and MIFAN. 

India awarded scholarships

Kathmandu, Feb. 22: India Wednesday awarded Golden Jubilee Scholarship to the Nepali students.

Minister for Education Dhani Ram Paudel and Indian ambassador to Nepal Ranjit Rae presented Certificates of Merit to the students.

According to a press statement issued by the Indian Embassy in Kathmandu, the scholarship scheme was launched by the government of India in 2002 to commemorate 50 years of economic cooperation between India and Nepal from 1951 to 2001.

“Initially 50 Nepalese students undertaking different undergraduate courses in Nepal were awarded the scholarship. In 2007, the number of scholarships was increased to 100 and from 2012, it has been doubled to 200 and monthly stipend increased from Rs. 3000 to Rs. 4000 for MBBS and BE courses and from Rs. 2000 to Rs. 3000 for other courses, including B.Sc., B.A., BBS, etc.,” read the statement.

Government of India extends over 3000 scholarships to Nepalese citizens through the Embassy of India in Nepal. The scholarships are provided for a wide spectrum of courses including medical, agriculture, sciences, law, arts, veterinary sciences, pharmacology, computer sciences etc. at various levels of Under-Graduate, Post-Graduate, Fellowships, etc. 

Australia commits 42 m$ for SDIP2

Kathmandu, Feb. 21:

Australian ambassador to Nepal, Glenn White Tuesday announced the launch of the second phase of activities in the Himalayan river basin under the Sustainable Development Investment Portfolio (SDIP2).

“The project is Australian Government’s regional development programme to improve integrated management of water, energy, and food in parts of Nepal, India, Pakistan, Bhutan and Bangladesh, addressing climate risk and the interests of women and girls,” said White.

The Australian government has committed 42 million US Dollars to the SDIP2 which will run for four years, 2016 to 2020.

Australia has now a total of 90 million dollars commitment across the region for the SDIP project.

“In response to the government of Nepal and other bilateral partners in South Asia, Australia has and will continue to support the region on integrated water resource management, climate resilient and energy/water efficient agriculture, and energy efficiency and standards in large scale grid connected renewable and small to medium scale hydropower,” said White.  

SDIP initiatives focus on Indus, Ganges and Brahmaputra river basins.

The second phase of the programme aims to strengthen practices for regional cooperation, generate and share new knowledge, and improve the regional enabling environment for more integrated management of water, energy and food resources.

Commonwealth Scientific and Industrial Research Organisation (CSIRO), International Centre of Excellence in Water Resource Management (ICEWaRM), International Centre for Integrated Mountain Development (ICIMOD), International Finance Corporation (IFC), Australian Centre for International Agricultural Research (ACIAR), World Bank’s South Asia Water Initiative (SAWI) and Asia Foundation are the delivery partners for SDIP in Nepal.

Meanwhile, talking to The Rising Nepal, Head of Development Cooperation at the Australian Embassy Ainsley Hemming said that Australia would continue to support Nepal in poverty alleviation and inclusive development.

According to her, Australia is supporting Nepal with about 36 million Australian dollars annually in an average. 

Nepal-Israel CCI established

Kathmandu, Feb. 21:

Nepal Israel Chamber of Commerce and Industry (NICCI), a bilateral business association, has been established with an aim of promoting and boosting bilateral trade, investment and other economic activities between Nepal and Isreal.

Minister for Foreign Affairs Dr. Prakash Sharan Mahat launched the newly established bilateral chamber of commerce and industry amidst a programme in the capital on Tuesday.

He said that sharing Israel’s experience on agriculture would be instrumental in developing agricultural sector and agro-industries in the country.

“Israel is also known for its advanced technologies in the field of medicine and agriculture. It has turned the desert into green fields. Therefore, if we can focus on agricultural technology transfer, it would contribute to increased productivity and boosting the economy,” said Dr. Mahat.

Israeli ambassador to Nepal Yaron Mayer said that the establishment of NICCI would further strengthen the diplomatic ties between Nepal and Israel, which established 57 years ago by then leaders BP Koirala, first democratically elected Prime Minister of Nepal and David Ben Gurion, first PM of Israel.

“For a long time, government activities and training programmes were dominant part between the two countries. I feel the time has come for the private sectors of both sides to take a lead and further push forward,” he said.

Saying that in many fields and technologies like agriculture, medicine, information technology and cyber matched with opportunities in Nepal could be a potential platform for economic collaboration and successful projects, Mayer stated that the governments and the regulators in both sides still held import responsibilities for facilitation conditions simplifying bureaucratic procedures and grant incentives and guarantees in order to ease the establishment of joint ventures.

Senior vice-chairman of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) said that foreign employment, tourism and agriculture could be areas for immediate collaboration between the two countries.

“FNCCI is planning to develop a model farm in every province. Israel can be an important partner in training and developing entrepreneurs in this regard,” she said.

President of the Confederation of Nepalese Industries (CNI) Hari Bhakta Sharma urged Israel to help in technology transfer, trade, investment and tourism.

President of Nepal Chamber of Commerce (NCC) Rajesh Kazi Shrestha urged the Israeli businessmen to invest in Nepal.

 The executive committee of the NICCI has been formed under the leadership of Shisheer Kumar Bhatta as the president.

Rabi Chandra Sing is the vice-president of the organization, JR (Sagar) Thapa is secretary, Hemanta Golchha is treasures and Sailendra K Shrestha, Sandip K Sharda and Sudeep Acharya are the members.

Other members are Subashis Thapaliya, Prakash Dutel, Lokendra Karki, Kapil Dev Regmi, Bharat Raj Acharya, Nikhil Murarka, Sambridhi Gyawali, Bishnu Panthi, Sushil Khadka, Kishan Agrawal, Mani Chaulagain, Sreejana K.C., Arjun Dharel, Mohan Lama, Tanka Raj Acharya, Birendra Pandey, Shiva Dangal and Binay Upadhyay.

Advisor to the Ministry of Agriculture and Rural Development Zvi Herman delivered a presentation on Israel’s latest water related technology.

Nepal is one of the first countries in Asia to recognize the establishment of Israel and establish bilateral ties with it.

Diplomatic relationship between Nepal and Israel was established on June 01, 1960.

Israel opened its embassy in Kathmandu in March 1961.

RK Mainali comes up with his memoirs

Kathmandu, Feb. 11: Senior communist leader Radha Krishna Mainali has come up with a book of his memoirs – ‘Nalekhiyako Itihas’, an unwritten history.

Senior journalist Bhairav Risal unveiled the book amidst a ceremony on Saturday.

Mainali has inscribed the story of Jhapa revolt, family and struggles in his life.

“This is neither the memoirs of my life nor it’s the chronology of Jhapa revolt. It has the background of the revolt and later developments, struggles in my political and family life, but I have remembered only the major events, trends and characters, so details might me missing in many occasions,” he said.

He said that he jotted down what he saw and never intended to hurt anyone.

Mainali was one of the leaders of the Jhapa revolt, 1971-72, which is considered as the first attempt of people’s war in the country.

He was jailed for 14 years during the Panchayat regime and played a crucial role in the people’s movement in 1990.

But, he was appointed as the minister during king Gyanendra’s direct rule which drew lots of criticism.

Later one he joined CPN-Maoist and recently connected with the CPN-UML.

The book is edited by journalists duo Madhav Basnet and Man Bahadur Basnet.

Professors Dr. Surendra KC and Krishna Pokharel presented their critics on the book.

“Jhapa revolt was wrong but the book has missed to do justice with this fact,” said Prof. Pokharel.

The book is published is Alchemy Publication and priced at Rs. 500. 

EU positive to remove Nepal from Air Safety List

Kathmandu, Feb. 18:

The European Union is positive to remove Nepal from its Aviation Safety List, said the Minister for Foreign Affairs Dr. Prakash Sharan Mahat upon his arrival from his seven-day visit to Belgium and Luxemburg.

“As Nepal’s aviation safety is about to reach to the Asia-Pacific standard, we have requested to the EU to lift the ban imposed by the EU on Nepalese airlines. President of the EU Jean Claude Junker has assured me of looking into the matter positively based upon the facts to be provided by Nepal,” he said at a press conference organised at the Tribhuvan International Airport.

The EU has banned Nepalese airlines from flying through its airspace for failing to meet regulatory oversight standards of the EU. This has negatively impacted the tourism industry of the country.

Minister Mahat said that the EU would start process of delisting Nepal from the List after receiving the documents regarding the air safety measures and current situation.

He stated that Junker expressed his commitment to support Nepal in infrastructure development, post-quake reconstruction and export promotion of Nepalese goods in the EU countries.

The Minister apprised the EU President of the recent political developments in Nepal including amendment of the constitution and preparation for holding of elections in the stipulated time frame.

“Belgium and Luxemburg have said that they would include Nepal in their Official Development Assistance (ODA) list. We will very soon send a request letter for the same,” he said.

According to him, reaffirming Luxembourg’s commitment to extend support in Nepal’s development efforts, Minister for Development Cooperation and Humanitarian Affairs of Luxembourg Romain Schneider said that Nepal would be given positive consideration during the next review of he list of countries receiving the Luxembourgish ODA. 

Dr. Mahat held a meeting with vice-president of the EU Commission for Foreign Affairs and Security Policy Federica Mogherini and discussed on the issues pertaining to Nepal-EU relations.

“Mogherini has expressed the EU’s commitment to extend support in Nepal’s development efforts including the reconstruction process as well as the implementation of the new constitution and electoral support as per Nepal’s need,” he said.

 Dr. Mahat met with Prime Minister of Luxembourg Xavier Bettel, his Luxembourgish counterpart Jean Asselborn and attended a programme organised by the  Non-Resident Nepalese and Public Relations Committee in Luxemburg, and interacted with the Nepalese Diaspora.

He also addressed an interaction on ‘Inclusive democracy and economic transformation in Nepal: Prospects and challenges’ organised by the Nepalese Embassy in Brussels and European Institute for Asian Studies.

Infrastructure Summit Concludes

PPP proposed for large projects

Kathmandu, Feb. 20:

Clear legal provisions, a competitive environment and value propositions are the key elements in attracting both domestic and foreign direct investment in large infrastructure projects, experts said.

Deliberating on topics like value proposition, financing resilient and green infrastructure, and successful public-private-partnership (PPP) models at the Nepal Infrastructure Summit 2017, they stressed on creating a better investment environment by formulating favourable policies and reforming the existing policies.

"Quality infrastructure is a must to increase productivity in the areas of goods and services. It is equally important to remain competitive in the globalised world," said former finance minister Dr. Ram Sharan Mahat.

He said that the PPP could be an effective model to develop large-scale infrastructure as it combines efficiency, expertise and management skills of the private sector and authority and regulation of the government.

"However, PPP is not a substitute for public sector financing of infrastructure, it’s complimentary," he said.

Former vice-chairman of the National Planning Commission Dr. Shankar Sharma said that as the PPP was instrumental in attracting the right skills and management expertise, promoting innovation, reducing corruption and waste, efficient operations and maintenance, and reducing the burden on taxpayers, Nepal should adopt this model by formulating the necessary policy framework.

"The government should reorient itself from only focusing on projects to efficient service delivery. PPPs can change the role of the government from supplier of services to buyer of services," he said.

Chief Secretary Dr. Som Lal Subedi said that the current government spending on infrastructure was insufficient because the country had been spending only 4-5 per cent of its Gross Domestic Product (GDP) on infrastructure development while 8 to 12 per cent was required annually.

"There should be better designing, implementation and maintenance system for infrastructure development, and there should be better supervision at every step," he said.

Deputy Prime Minister and Minister for Physical Infrastructure and Transport Bimalendra Nidhi said that the government was putting its efforts in creating an investor-friendly environment.

President of the Confederation of Nepalese Industries (CNI) Hari Bhakta Sharma urged the government and political parties to provide an opportunity to the private sector.

He said that if given the opportunity, the private sector was capable of establishing more businesses, creating employment opportunities and leading the country on the path of progress.

Head of Cooperation in the Delegation of the European Union Andreas Rottger said that another 'P' – people – should be added to the PPP; due attention should be paid to the ultimate consumer while developing projects; and the project should ensure benefits to the poor sections of the people in the society.

The two-day summit was organised by the CNI in collaboration with the government and Youth Community of Nepalese Contractors (YCNC).

'Federalism may be financially unsustainable'

Kathmandu, Feb. 19: Experts Sunday warned that the federalism might not be financially sustainable as it was the most expensive governance system.

Speaking at the launching ceremony of Gajendra Budhathoki's book, 'Samakalin Nepali Arthatantra', they said that if due consideration was not given to the management of fiscal federalism, it would create problems in the long run.

"Federalism should be financially viable and sustainable but with the kind of resources that we have at present, it seems quite problematic in terms of management," said former Finance Minister Dr. Ram Sharan Mahat.

He said that the state authority was eroding while the country was running short of development-oriented politics.

"Lack of political stability made the government weak and economic malpractices increased which resulted in the suffering of common consumers," said Dr. Mahat.

Economist Prof. Dr. Bishwambhar Pyakuryal questioned whether the economic progress that Nepal had in the past three decades was natural or the result of economic liberalization adopted in the early 1990s.

He said that management of federalism would be a new problem for the country.

Former Finance Minister Bharat Mohan Adhikari said that economic liberalization should not shrink the welfare role of the state.

"The government should focus on creating employment to minimize the gap between the rich and poor," he remarked.

Economist and former member of the National Planning Commission Dr. Chandra Mani Adhikari said that the book had updated information on various areas of Nepalese economy.

Budhathoki is chief of the Editorial Department at Karobar daily and this is his second book where he has questioned the sustainability of the progress that Nepal achieved in the last three decades of liberalization.

The book was jointly launched by Adhikari, Dr. Pyakuryal and president of Society of Economic Journalists of Nepal (SEJON) Gokarna Awasthi.

It includes brief history of modern Nepal, various dimensions of development and economy.

The book is published by Sangri-La Books and is priced at Rs. 350. 

India to develop cross-border railways soon

Commits 340 million dollars for roads

Kathmandu, Feb. 19: India has expressed its interest in creating cross-border railway connectivity with Nepal at the earliest.

Indian Union Minister for Railways Suresh Prabhakar Prabhu Sunday said that India will create the cross-border railway connectivity as soon as possible in order to establish faster mode of connection between Kathmandu and Indian capital New Delhi.

"Nepal and India are the twins, and we should grow together," said Prabhu while addressing the inauguration ceremony of the Infrastructure Summit 2017.

The government is working on cross-border railway connectivity at five different points to connect Nepalgunj, Bhairahawa, Janakpur, Biratnagar, and Kakarbhitta to the Indian Railway lines across the Nepal-India border.

A Memorandum of Understanding (MoU) was signed between Nepal and India in 2011 during the visit of then President Dr. Ram Baran Yadav.

Prabhu suggested Nepal to invest at least 10 per cent of its annual Gross Domestic Product (GDP) in infrastructure development.

It means Nepal has to spend about 2.5 billion US dollars in infrastructure financing since the size of country's economy is 22.48 dollars.

"Nepal is a country at a threshold of growth which has huge infrastructure deficit, and is running short of resources to finance its infrastructure needs. Therefore, it should attract highest possible foreign direct investment (FDI) in large scale infrastructure projects," he said.

Minister Prabhu was generous enough urge the international investors to come to Nepal as it was high time to make investment in infrastructure in the country.

Meanwhile, he had signed a Memorandum of Understanding (MoU) with the Ministry of Physical Infrastructure and Transport of 340 million USD for the development of roads.

He said that the two neighbours should work together in developing hydroelectricity, and in the areas of climate change because despite of lowest per capita emission, the people in the region are affected by the climate change impacts.

Prime Minister Pushpa Kamal Dahal Prachanda remarked that infrastructure development was the top most priority of the government.

"Infrastructure is the launching pad for other development woks, and it minimizes the cost of production and propels growth," he said.

According to the PM, natural resources, geographical location and young population were the three advantages of the country at present.

He said that the government was facilitating the private sectors and foreign investors in order to motivate them to invest in infrastructure projects.

"With the implementation of investment friendly policies, we are creating foundation for FDI in infrastructure projects. We have market-friendly labour policy, cheap labour market, and better performance in terms of doing business environment in comparison with other South Asian countries," said PM Prachanda.

Vice-president of the Asian Development Bank (ADB) Wencai Zhang urged the government to invest in quality infrastructure.

He urged the government to invest 8-12 per cent of the GDP in infrastructure like airports, hydroelectricity, roads and bridges.

"The government should promote technology transfer by reforming policies. Developing economic corridor, cross-border trade, connectivity and power can make Nepal an economy hub in the region, and boos the economic growth as well," said Zhang.

Minister for Physical Infrastructure and Transport Ramesh Lekhak said that the Public-Private-Partnership would be the best model to Nepal for infrastructure development, and informed that the government was devising clear policy and guidelines with an aim of attracting investment in infrastructure sector.

Similarly, Minister for Tourism, Culture and Civil Aviation Jivan Bahadur Shahi said that the Ministry was taking initiatives for national tourism strategy.

President of the Confederation of Industries (CNI) Hari Bhakta Sharma said that the development could only be boosted with the participation of private sector and called for favourable policies for the same.

The two-day conference is being organised by the CNI in association with the government and Youth Community for Nepalese Contractors (YCNC).

Indian Railway Minister Prabhu arrives in Kathmandu

Kathmandu, Feb. 18:

Indian Railways Minister Suresh Prabhakar Prabhu arrived Kathmandu on Saturday to participate in the Nepal Infrastructure Summit 2017.

He will participate in the summit as the guest of honour and deliver a keynote speech at the opening ceremony of the summit.

The two-day Summit is scheduled to begin on Sunday and will be inaugurated by Prime Minister Pushpa Kamal Dahal Prachanda.

It is being organised by the Confederation of Nepalese Industries in association with the government and Youth Community for Nepalese Contractors (YCNC).

Minister Prabhu was welcomed at the Tribhuvan International Airport by CNI President Hari Bhakta Sharma and secretary of the Ministry of Physical Infrastructure and Transport Bishnu Om Bade Shrestha.

 “His three-day visit will be a good opportunity for sharing ideas and experiences of Indian model of infrastructure development where involvement of private sector has become one of the key drivers in accelerating steady rate of economic growth,” said Sharma.

The government is currently working on six major railway projects: Mechi-Mahakali Railway, Cross Border Connectivity Railway at five different points, Kathmandu-Pokhara-Lumbini Electric Railway, Rasuwagadhi-Kathmandu Railway, Kathmandu-Birgunj Electrified Railway and Kathmandu Valley Metro Rail.

Cross border railway line will connect Nepalgunj, Bhairahawa, Janakpur, Biratnagar and Kakarbhitta to the Indian Railway lines across the Nepal-India border.

A Memorandum of Understanding (MoU) was signed between Nepal and India in 2011 during the visit of then President Dr. Ram Baran Yadav to India.

Likewise, discussions are underway to develop sky railway in the Kathmandu Valley.

According to a press statement issued by the CNI, Prabhu said that the summit would be pivotal for accelerating economic growth of Nepal which was striving for graduating itself to the status of developing nation.

Nepal needs to invest about Rs. 300 billion in the infrastructure every year for a decade to graduate itself to the developing nation.

Minister Prabhu is scheduled to pay courtesy call to President Bidya Devi Bhandari, Prime Minister Prachanda and he will also have meeting with Minister for Physical Infrastructure and Transport Ramesh Lekhak.

CNI said that he would hold meetings with the private sector representatives and prominent industrialists.

“CNI believes that the visit of Indian Railways Minister will be helpful in strengthening the connectivity between Nepal and India for better socio-economic development of both the countries,” read the statement. 

Kirlosker Mega T launched in Nepal

Kathmandu, Feb. 18:

Kirlosker, a multinational producer of farm mechanization, pumpsets, industrial, agro-industrial and marine equipments, has launched Mega T – a farm machine for small and marginal farmers- in Nepal.

“Mega T is a multi-application machine which looks like a tiller but works like a tractor where farmers can sit on the machine and operate in the field in dry as well as wet land applications,” said the company. 

Dugar Group is the distributor of the machines in Nepal.

According to a press statement issued by the company on Saturday, the product is specially targeted to small farmers having less 2 ha of land as they couldn’t afford expensive machines like tractors.

The machine comes with high torque engine, mid power take off, certified driver seat – in 15HP segment- and disc actuated brakes.

“This machine has received several awards in past one year such as CII-Industrial Innovation Award, AIMA-Breakthrough Product Innovation Award in R & D, Rural Marketing – Innovative Ideas for Rural Development, India Good Design Award, and Japan Good Design Award 2016,” read the press statement.

Vice-chairman of Dugar Group, Vivek Dugar, said that he was aiming to green all barren lands of farmers through this product.

Associate vice-president for strategy at the Kirlosker, Rajit Ghosh, said that the company was focused on transforming farmers’ lives through innovative technology, products and delivery. 

VP Pun stresses on stable foreign policy

Kathmandu, Feb. 17:

Vice-President Nanda Bahadur Pun said Friday that the country's relations with its neighbours should not change with the change of government.

Addressing a programme organised to mark the 69^thanniversary of Nepal Council of World Affairs (NCWA), he said that in the absence of a stable neighbourhood and foreign policy, Nepal's relations wouldn't be reliable and strong.

"Nepal needs to make its neighbourhood policy strong with wide analysis and mature public opinion, and economic gain must be the main goal while strengthening bilateral or trilateral relations," he said.

According to Vice-President Pun, during high level visits to foreign countries, subjects that fall under the ministries other than the Ministry of Foreign Affairs and Ministry of Finance should be discussed intensively.

He stressed on the implementation of the project agreements signed with the neighbouring countries at the earliest.

VP Pun said that Nepal was lagging behind due to internal instability and absence of a clear foreign policy.

"Uniformity on national policy and a common commitment for its implementation are a must to be successful in diplomatic relations. But in the case of Nepal, it has not been so. Therefore, we are lagging behind," said Pun.

He said that the political parties might have their own ideologies, but they should have one opinion in terms of foreign policy, and this should reflect in their attitude.

"Economic, social and political development with internal stability should be our prime goals while expressing our notions at the diplomatic level," he said.

NCWA president Dr. Rajendra Bahadur Shrestha suggested focusing on economic rather than conventional diplomacy.

"Application of tact, negotiation skills and intelligence in promoting development, trade and investment constitute an integral part of economic diplomacy," he said.

According to Dr. Shrestha, attracting foreign direct investment from China, India and others along with transfer of new technologies, skills and managerial expertise in areas of comparative and competitive advantages, such as hydropower, infrastructure, agro-forestry based industries and tourism would boost Nepal's economy.

Saying the current equidistance or balanced approach in terms of India and China might not yield the desired results in Nepal's interest, he remarked that foreign policy should be country specific based on comparative advantage and cooperation, not confrontation.

He said that there was a need for an urgent review of Nepal's current policies and relations vis-à-vis its neighbours.

"The recent border blockade, unrest in Madhes, widening gap between different sections of the society, and excessive external interference in the internal affair are largely the consequence of our weak foreign policy and ineffective diplomacy," he said.

He said that lack of consensus on issues of national interest among the political leaders has remained an obstacle in defining our policy priorities.

"Partisan politics and conflicting interest of the leadership in response to international and regional issues have tarnished the national image. As a result, Nepal does not seem to have an effective foreign policy that is coherent, up-to-date, comprehensive, pragmatic and flexible enough to protect national interest," he said.

NCWA general secretary Prof. Dr. Shreedhar Gautam said that the organisation was the largest national institution promoting international understanding, cooperation, peace, security and prosperity among the people of friendly countries through people to people diplomacy. 

Restoration of dug road to begin this week

Kathmandu, Feb. 17: The restoration of the road sections that have been dug to lay water pipelines in Kathmandu and Lalitpur is to begin in a couple of days.

“The reinstatement of the roads will be expedited so as to finish it by mid-May 2017,” said director of the Project Implementation Directorate (PID) at the Kathmandu Upatyaka Khanepani Limited (KUKL) Tiresh Prasad Khatri at a press conference on Friday.

He said that of the 200 km section of the main road, 150 km had been dug to lay the pipes.

"The Department of Roads will rehabilitate the roads that fall under its jurisdiction, the rest will be built by the Kathmandu Metropolitan City and Lalitpur Sub-metropolitan City,” said Khatri.

“A memorandum of understanding (MoU) has been signed with the concerned parties on this," said Khatri.

The KUKL and the financing partner,the Asian Development Bank (ADB),had called the press conference amidst growing criticism from the public that the road digging had led to extreme air pollution and dust in the city.

Executive director of Sharma and Company, one of the contractors involved in laying the pipeline for the Melamchi Water Supply Project (MWSP), Ramesh Sharma said that the company had tried not to dig the roads, but then there was no alternative.

"We tried to lay the pipelines under the footpath, but that part of the road was cluttered with water pipes, fiber optics and other wires. So, we were left with no option but to dig the road," he said.

However, he said that during the construction of large infrastructure projects like the MWSP, the public must bear with some of the nuisances like dust and traffic disturbances.

Khatri said that the PID of KUKL was aware about the environmental hazardsthe people were having to encounterin the valley and said several measures had been taken to minimise them.

"We are aware that it is an offence under the Environmental Protection Act, 1997, to cause significant adverse impacts on the environment. And the PID-KUKL has adopted the best practices to prevent dust," he said.

According to him, the KUKL had taken the inconvenience and hardships being experienced by the residents of the valley due to pipe laying works and other sources of dustvery seriously, and was committed to taking strict measures to monitor the pollution.

Khatri said that more than 1200 workers were working at 40 different sites with a target to accomplish all the pipe laying works before the completion of the Melamchi tunnel work.

ADB country director Kenichi Yokoyama expressed concern about the growing air pollution due to the pipe laying works and urged the government to adopt the necessary measures.

"But it shouldn't be forgotten that the unprecedented pace of development like the MWSP might create some disturbances,yet the developers must comply with international standards to minimise the adverse impact on the people," he said.

Minister of State for Minister of Water Supply and Sanitation Dipak Khadka said that the government was serious to address the health hazards the people were having to face due to the dust and other pollutants.

21 industries agreed to establish factories in SEZ

Kathmandu, Feb. 16: Minister for Industry Nabindra Raj Joshi said that 21 industries had pledged to establish their plant in the Bhairahawa Special Economic Zone (SEZ), and more than Rs. 5 billion would be invested in the Zone.

Inaugurating the office of SEZ amidst a programme in Bhairahawa Thursday, he urged the businessmen and industrialists to establish industries in the Zone.

"Required electricity to run industries will be made available immediately after the establishment of the factory. You need not to worry about electricity. By the time you set up factories, the electricity facilities would be ready in the SEZ," he told the businessmen.

He stated that the businessmen had to register their industries with the SEZ office which would shorten the registration process.

He assured the private sector that the SEZ would come into operation at any cost since it was crucial for creating employment and reducing trade deficit.

According to the Minister, the foundation for the industrial revolution in the country had been laid, and the Ministry of Industry had been working with an aim of creating enough employment opportunities which would create environment to stop youth from going abroad in search of jobs.

Executive director of SEZ Chandika Prasad Bhatta informed that the SEZ had signed agreements with 21 companies which would export 75 per cent of their products.

"The industries that are willing to come to the SEZ are readymade garment, PVC mat, cement block, cement electrical, fabric, rubber and shoe, wires, medical herbs, soaps, garment processing, ginger processing, mineral water, electronic vehicle assembling and juice," he said.