DJPL completes 30 years in medicine production

Kathmandu, Jan. 29

Deurali Janta Pharmaceuticals Limited (DJPL) has completed three decades in medicine production.

The first Nepali pharmaceutical company to implement the WHO-standarised Good Manufacturing Practice is also the highest tax-paying business from the sector, it said in a statement on Friday.

"We are at the forefront in terms of high corporate social responsibility. DJPL has maintained the international standards in medicine productions with the transfer of latest technology," said Hari Bhakta Sharma, Executive Director of the company.

The company has independently producted various types of medicines that are being used in the treatment of different diseases. Currently, it is producing 330 types of medicinces, including capsule, tablet, liquid, ointment and dry power.

DJPL has produces Favir-200 tablets, a medicine that is used in the treatment of the coronavirus infection.

The medicine is under the clinical trial, implemented jointly by the company, Health Ministry and Nepal Health Research Council.

The company claims that there is no negative impact of that medicine so far. It has asked for the government approval to sell them in the market.

DJPL has provided employment opportunities to some 500 people.

Published in The Rising Nepal daily on 30 January 2021. 

FM Gyawali congratulates Blinken

Kathmandu, Jan. 28

Minister for Foreign Affairs Pradeep Kumar Gyawali has felicitated Antony Blinken on the latter’s appointment as the Secretary of State of the United States of America.

In his message sent to Blinken on Thursday, Gyawali has expressed his confidence that the multidimensional Nepal-US relations will continue to flourish in the years ahead, stated the Ministry of Foreign Affairs in a statement.

Appreciating US cooperation to Nepal’s socioeconomic development, the Foreign Minister has outlined that the new US policies, including the emphasis on multilateralism, will further expand the avenues for mutual cooperation.

In this context, he conveyed the commitment of the Government of Nepal to working closely with the US in the areas of common interests, including climate action and global health in the context of COVID-19 pandemic.

He also underscored the need of further enriching development partnership, economic engagements and people-to-people contacts.

Published in The Rising Nepal daily on 29 January 2021. 

Govt launches Urban Infra project with WB support

Kathmandu, Jan. 27

Government has launched Nepal Urban Governance and Infrastructure Project with the financial support from the World Bank (WB).

Secretary of the Ministry of Urban Development, Dr. Ramesh Prasad Singh, and World Bank Operations Manager for Maldives, Nepal, and Sri Lanka Lada Strelkova jointly launched the project on Wednesday.

The four-year project is financed by the WB to promote sustainable urban development and to support post-COVID-19 economic recovery in strategic secondary cities.

Aligned with Nepal’s federalism principles and the National Urban Development Strategy, the $150 million (Rs. 17.55 billion) project puts the municipalities at the forefront of project implementation with a focus on strengthening service delivery and institutional capacities in strategic secondary cities and supporting post-COVID-19 economic recovery through labour-intensive public works, the WB said in a statement.

“In the context of rapid urbanization, federalism, and the pandemic, delivering better urban services and responding to the needs of the population are critical. Given the urgent needs, result-oriented implementation of the project is required at all levels of government,” stated Dr. Singh.

He said that the project complements the government’s existing programmess and deepens the engagement on urban development through the establishment of dedicated funding for strategic urban infrastructure in the targeted cities. 

The project will be executed in 17 municipalities in two strategic urban clusters in the eastern region (Provinces 1 and 2) and western region (Gandaki and Lumbini Provinces).

“The selected municipalities are critical to Nepal’s economic development and are centres for commercial and administrative activities in those regions,” said the WB.

The project will also support 12 additional municipalities across seven provinces for labour intensive public works, as well as supporting four municipalities for capacity building.

Of the total credit, about 95 per cent is allocated to the local levels.

“As part of the World Bank’s COVID-19 response, the project will support over 20,000 of the most vulnerable and unemployed people at the local level to earn at least 50 days of wages through the generation of temporary employment opportunities in the maintenance and upgrading of public infrastructure,” stated Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.

Published in The Rising Nepal daily on 28 January 2021. 

Himalaya and Yeti collaborate for business

Kathmandu, Jan. 27            

Himalaya Airlines and Yeti Airlines have entered into a strategic business partnership for integration of network, expansion of sales growth and for gradual extension of support in e-commerce functionalities of both the companies.

They signed an agreement of Application Programming Interface (API) on Wednesday.

Himalaya Airlines is currently operating international flights to various destinations in central Asia and South Asia whereas Yeti Airlines is a scheduled passenger airline operating flights to various domestic destinations in Nepal.

“The agreement includes airlines inventory for ticket issuance and ancillary products and is aimed at facilitating different passenger segments of both the airlines making their products available in each other’s website for easy accessibility,” the companies said in a joint statement.

However, the implementation process will take some time for completion.

Speaking at the programme organised to sign the agreement, Vice President of Himalaya Airline Vijay Shrestha said, “Today’s alliance is our first step towards the strategic partnership between the two companies to explore new avenues to expand businesses. Capitalising on our digital tie up, we hope this agreement shall maximise sales and revenue potential.”

Likewise, Chief Executive Officer of Yeti Airlines Anoj Rimal said that his company was pleased and excited to have Himalaya Airlines as a partner which has certainly given a positive message to the business communities. With this partnership, passengers of both the airlines get the added benefits.”

Through the websites of both the airlines, the passengers will get the benefit to book connecting flights of their choice both nationally and internationally in the selective destinations that Yeti Airlines, Tara Air and Himalaya Airlines operate the flights.

Published in The Rising Nepal daily on 28 January 2021. 

Risen Energy to conduct feasibility study for 250-MW solar energy project

Kathmandu, Jan. 26

The Investment Board of Nepal (IBN) has initiated the Detailed Feasibility Study Report (DFSR) for the 250-Megawatt capacity solar energy project.

It has signed a Memorandum of Understanding (MoU) with the Risen Energy Singapore JP Pte. Ltd. on Tuesday for the grid-connected solar project that will also feature a 40-Megawatt battery storage plant, said the IBN in a statement.

The study will be conducted in Kohalpur,  Banke district for 125-Megawatt solar energy and 20-MW battery storage capacity and in Banganga, in Kapilvastu district for 125-MW energy and 20-MW storage capacity.

The project will be developed at the cost of US$189.5 million (Rs. 21.98 billion).

Risen Energy will complete the DFSR and submit it to the IBN within a year.

Chief Executive Officer of the IBN Sushil Bhatta and Risen Energy’s Development Manager for South Asia Wang Qiang signed the MoU at a programme organised at the IBN office on Tuesday.

A meeting of IBN in July of last year had decided to entrust the responsibility of DFSR to Risen Energy.

The project is the largest of its kind in Nepal.

Published in The Rising Nepal daily on 27 January 2021. 

Nepali K2 mountaineers boost national pride: PM

Kathmandu, Jan. 26

Prime Minister KP Sharma Oli has said that the Nepali team of Mount K2 expedition last week had boosted the pride of country.

“You have lifted the pride of the country. You have enhanced the identity of Nepal, I would like to congratulate you,” he said while facilitating the 10-member team led by Nirmal Purja Magar on Wednesday. Purja and his friends successfully ascended the world’s second highest peak in Pakistan in winter season to set a new world record.

The K2, a peak in the Karakoram mountain range, so far was considered unconquerable during the winter season.

“Ours is the country of brave people and you have again proved that this is the country who can fight against any obstacle and defeat it. I would like to honour your efforts and courage,” Prime Minister Oli said while hounouring the mountaineers at his official residence in Baluwatar on Tuesday.  

He said that it was a motivating feat that would inspire many people in Nepal and around the globe. He also mentioned that other sports were incomparable with what the team of Nepali youth did on K2.

“All mountains are difficult for us to climb. Mountaineering is not for everyone. We might think that Sagarmatha, K2 and other peaks are same as they all are in the Himalayas but only people like you know the struggle and challenges while climbing the mountains,” he said to the mountaineers.

“But you exhibited unparalleled courage. Your stamina, your bravery and perseverance are extraordinary that is why you achieved success,” he added.

Prime Minister Oli said that each step towards the destination contributes to success. Mountaineering is not like other journeys since it poses various dangers, challenges and difficulties, he said.

Stating that he also used to wear the cap of ‘mission possible’ like Purja, he maintained that all missions are not possible but every mission could be made possible.

Prime Minister Oli pledged government support to the campaigns like K2 team. He urged those planning for such activities to inform the government about their plans and activities so that the latter could offer some help.

He expressed concerns over the non-existence of any award or medals in the field of mountaineering or expedition and said that the government would soon find ways to honour brave people who conquer the formidable mountains.

Published in The Rising Nepal daily on 27 January 2021. 

Prez, PM congratulate India on Republic Day

Kathmandu, Jan. 26

President Bidya Devi Bhandari and Prime Minister KP Sharma Oli have sent separate messages of felicitations to India’s President Ram Nath Kovind and Prime Minister Narendra Modi respectively on the occasion of the Republic Day of India.

In her message, President Bhandari extended best wishes for personal health and happiness of the Indian President as well as for the peace and prosperity of the people of India, said the Ministry of Foreign Affairs (MoFA) in a statement.

She has also expressed confidence that the age-old and multidimensional relations between Nepal and India would be further strengthened in the days to come.

Likewise, in his message to his counterpart Modi, Prime Minister Oli expressed his best wishes for the continued peace, progress and prosperity of the people of India.

He stated that the two neighbours enjoyed deep and diverse relations marked by friendship, equality, cooperation and mutual respect.

Prime Minister Oli also admired India’s spectacular progress in the field of science, technology, medicine and economic development, and expressed gratitude for one million doses of Covishield vaccine grant to Nepal.

Published in The Rising Nepal daily on 27 January 2021. 

Govt gears up to establish fertiliser plant

Kathmandu, Jan. 23

Nepal needs about 1.35 million tonnes of chemical fertilisers per year but the continuous crisis has pushed the actual demand down to about 800 thousand tonnes while only 450 thousand tons is imported.

Shortage of chemical fertilisers is a recurring crisis in Nepal. The country reels under the acute shortage of the much-needed agricultural input at the time when the farmers need it the most, like during paddy plantation and wheat plantation.

Farmers across the country use about 6 hundred thousand tons of compost manure. Although there is no exact data, hundreds of thousand tons of fertilisers is smuggled to Nepal via India especially during paddy cultivation.

The government spends billions of rupees for grants in imported fertilisers. According to Ministry of Agriculture and Livestock Development, Rs. 10 billion was allocated for the fertiliser grant in the last fiscal year which increased to Rs. 11 billion in the current FY 2020/21.

Amidst this scenario and the haunting experience of fertiliser shortage in the previous season, the government on Wednesday announced to establish a chemical fertiliser factory in the country.

A meeting of Minister for Finance Bishnu Prasad Paudel, Minister for Industry, Commerce and Supplies Lekh Raj Bhatta and Minister for Agriculture and Livestock Padma Kumari Aryal, and secretaries had announced that the process for the establishment of the factory had been initiated.

A Cabinet meeting on 9 November 2020 had formed a committee led by Finance Minister Paudel to conduct preliminary study about the establishment of the fertiliser plant.

In a special interview with The Rising Nepal on Saturday, Minister Aryal said that the meeting had discussed a concept paper to build the fertiliser plant and assigned a team of senior bureaucrats to refine the paper.

The team will submit the paper to the government within two weeks’ period.

The government is considering three options – natural gas-based, coal-based and electricity-based – for the plant. The gas-based plant is the most economic as it could be established at an estimated cost of Rs. 22 billion while the electrolysis method would need about Rs. 157 billion.

 

 IBN suggests gas-based technology

A study conducted by the Investment Board of Nepal (IBN) in 2017 had also suggested to opt for the natural gas-based technology which would require 115 megawatt of electricity and 1197 tonnes of gas per day.

Locations proposed for the establishment of the factory were Dhalkebar in Dhanusha district of Province 2 and Bardghat of Nawalparasi district of Lumbini Province.

Minister Aryal said that the gas-based option is more feasible and cheaper as the gas could be imported from India through a pipeline. Bardghat could be an ideal option for it.

The IBN also said that the electricity-based plant would be much more expensive.

The government is considering to establish the new plant in Public-Private Partnership (PPP) and the plant could be developed within five years.

“When the government facilitates land acquisition, import and installation of the plant, developing the gas pipeline, and the market is immediately available, private sector might have a good opportunity to invest in the plant as per the PPP model,” said Aryal.

According to the IBN, the role of government in the project would be provision of government land, land acquisition, facilitation and project security, facilitating legal approvals/permits, and review and monitoring. Likewise, the private sector’s role will be plan, design, build, finance and operate the facilities during the concession period, collection of revenues from the project and hand over to the government after the concession period expires.

Dr. Shree Ram Ghimire, Spokesperson of the MoALD, said that the IBN report could be the point of departure in terms of establishing a new fertiliser plant.

He said that inputs would be taken from the National Planning Commission as well.

There will be interactions and discussions with the private sector before finalising the construction and operation modality of the plant.

 

A long-term solution

Nepal is an agrarian country with 65 per cent people involved in agriculture and the sector contributing about 29 per cent to the Gross Domestic Product (GDP) of the country. It is also sector that generates the biggest number of jobs.

“We must work to increase the agricultural productivity and find a long-term solution to the perennial crisis of fertilisers. Establishment of the fertiliser plant is an important step towards it,” Minister Aryal said.

While assuming the post of the Agriculture and Livestock Minister last month, Aryal had announced that fertiliser storage facilities would be established in each province to ensure the timely supply of the much-needed agricultural input.

The Agricultural Inputs Company and Salt Trading Corporation are the agencies responsible for the procurement of fertilisers but they have continuously failed in the timely supply of chemical fertilisers.

Published in The Rising Nepal daily on 24 January 2021. 

Melamchi to send water in tunnel in four weeks

Kathmandu, Jan. 24

Testing of tunnel of the Melamchi Water Supply Project (MWSP) would begin within the next four weeks.

Executive Director of the Melamchi Water Supply Development Board Tiresh Prasad Khatri assured Minister for Water Supply Mani Chandra Thapa during his inspection on Sunday that the remaining works at the tunnel would be completed within four weeks and water could be flushed into it.

“Most of the works of the tunnel construction have completed. Repair of the exit gates has also been done. In order to prevent the accidents like the one happened recently, we have called a team of foreign experts for the inspection of the tunnel,” he said.

Two employees of the project had died in July 2020 as one of the gates crashed to the gushing flow of water. Khatri said that the project had applied some long-term safety measures in the tunnel.

Minister Thapa had inspected the tunnel and water treatment centre in Sundarijal. He had reached Sindhu and crossed 9 km distance in the tunnel. He inquired about the work remained and additional tasks needed to bring water to the Kathmandu Valley.

Published in The Rising Nepal daily on 25 January 2021. 

Japanese grant for emergency shelter

Kathmandu, Jan. 22

Japan has decided to provide grant to the Community Development Centre to build a training centre and emergency shelter in Rautahat district.

Charge d'Affaires a.i. of Japan to Nepal, Yoshioka Yuzo signed a grant contract with the centre at an online ceremony on Friday to support Rs. 91.5 million for the project.

The project for building the facility in Rautahat is funded under the Grant Assistance for Grassroots Human Security Project (GGP) of Japan government.

Yoshioka said the project will help to promote the welfare and security of people in the district.

The Community Development Centre was established in 1998 and has been providing training on disaster prevention, vocational training, and that aimed to support education of children in the district.

Meanwhile, Yoshioka also signed a grant contract with Damodar Prasad Yadav, chairperson of centre for Health and Environment Conservation (CHEC) Nepal, for installing a machine for making sanitary napkins to support the hygiene of poor women in Birgunj Municipality.

The project is also funded under the GGP and involves a grant of about Rs. 4 million.

Published in The Rising Nepal daily on 23 January 2021. 

Nagarik Stock Dealer Company receives license

Kathmandu, Jan. 22

The Securities Board of Nepal (SEBON) has issued licence to the Nagarik Stock Dealer Company Limited to work as a stock dealer in the share market.

The Citizen Investment Trust promoted company has applied to the SEBON for the license.

According to Niraj Giri, spokesperson of the capital market regulator, said that the Securities Businessperson (Stock Broker and Stock Traders) Bylaws, 2008 was amended to allow the entry of new company in the business.

The budget of the current Fiscal Year 2020/21 had also incorporated the programme to run the stock dealer to promote institutional investment in the capital market.

The board said in a statement that the stock broker company would help in filling gap of institutional investors in the share market. Nepali share market is dominated by small investors.

Nepal Stock Exchange (NEPSE) had issued the Stock Dealer Operation Procedure, 2020 in last November.

A stock dealer is the business entity that buys and sells the securities in the share market on its own account. It is not like the share brokers as it buys and sells the shares as a part of its business while the brokers buy the securities on behalf of the investors.

NEPSE has barred the stock dealer to involve in the transaction of listed small companies. The dealer can buy the securities of the company if the latter has at least 10,000 investors and is in profit for the past three years. Such company should also have more than Rs. 200 million paid up capital and share transactions on at least 80 per cent days of the business days.

Published in The Rising Nepal daily on 23 January 2021. 

NBL launches 39th extension counter

Kathmandu, Jan. 22

Nepal Bank Limited has launched its 39^th extension counter at the District Administration Office in Charikot of Dolakha district.

Chief District Officer Ramesh Prasad Siwakoti inaugurated the new counter on Wednesday amidst a programme, it said in a statement on Friday.

He said that the new counter would facilitate the service seekers to obtain the services at the offices more swiftly. “I am hopeful that it will facilitate people visiting the District Administration Office, Land Revenue Office, Survey Office and Bhimeshwor Municipality Office,” he said.

Manager of NBL’s Charikot Branch Surendra Shrestha said that the bank wanted to provide fast services to people, and would apply required technology.

According to him, the extension counter would collect the revenue in the beginning and other services would be launched in the future.

NBL has 204 branches, 39 extension coutners, 142 ATMs across the country.

Published in The Rising Nepal daily on 23 January 2021. 

Prez, PM congratulate new US administration

Kathmandu, Jan. 21

President Bidya Devi Bhandari, Vice President Nanda Bahadur Pun, Prime Minister KP Sharma Oli and Chairman of the National Assembly Ganesh Prasad Timilsina have sent messages of congratulation to the high offices of the United States of America on the assumption of the office by the newly elected leadership.

In her message sent to Joseph R. Biden, Jr. on his assumption of office as the 46^th President, on Thursday, President Bhandari underlined the excellent state of bilateral relations between the two countries, reads a statement published by the Ministry of Foreign Affairs.  

Appreciating the US cooperation in socioeconomic development of Nepal, the President has expressed her confidence that the rich and multi-faceted Nepal-US relations will continue to deepen and expand during the tenure of President Biden.

President Bhandari has extended best wishes to the new leadership for a successful tenure.

Similarly, Vice President Pun congratulated his US counterpart Kamala Devi Harris and commended the historic election of the first female Vice-President in the United States.

He expressed appreciation to the priorities of the new US administration to the topical issues such as gender equality, social justice and climate change.

Likewise, Prime Minister Oli has expressed his confidence that the United States will continue to achieve progress and prosperity under the able leadership of President Biden.

Reaffirming Nepal’s commitment to longstanding friendship with the US, the Prime Minister has expressed Nepal’s desire to work together with the new US leadership at the bilateral level on matters of mutual interests and towards advancing agendas of global importance at the multilateral level.

Prime Minister Oli has expressed confidence that the bilateral relations, underpinned by cooperation, economic partnerships as well as people-to-people contacts, will reach new heights in the years ahead.

Similarly, Chairman of the National Assembly Timilsina, also sent a congratulatory message to Harris, who as Vice-President also presides over the United States Senate.

In his message, he expressed his willingness to work closely with Harris towards further strengthening the bilateral ties and enhancing cooperation between the Federal Parliament of Nepal and the US Congress.

Published in The Rising Nepal daily on 22 January 2021. 

Govt, private sector must stand together to fight COVID-19: FM Gyawali

Kathmandu, Jan. 21

Minister for Foreign Affairs Pradeep Kumar Gyawali has stressed on close cooperation among the members of the Asian Cooperation Dialogue (ACD) and partnership with private businesses to fight against COVID-19 pandemic.  

“It is needed to bring all aspects of lives, livelihoods, and economies to normalcy, including the tourism sector. There is an urgent need to ensure easy and affordable access to vaccines and other essential medical items to this end,” he said while addressing the 17^th Ministerial Meeting of ACD held virtually on Thursday under the theme ‘The new normal and safe and healthy tourism’.

Stating that the top priority of the Government of Nepal is to protect people’s lives from the disease and hunger, the Foreign Minister said that Nepal had scrupulously been executing safety, health and sanitation protocols in all tourism related activities focusing to save jobs and keep the economy afloat.

“Development and improvement of quality infrastructures is a key to build all modes of connectivity in the ACD region, narrow the development gap, and achieve equitable and inclusive growth, especially for a landlocked country like Nepal,” he said according to a statement of the Ministry of Foreign Affairs.

Minister Gyawali emphasised the need for enhancing cooperation and collaboration for mitigation and adaption of the adverse impacts of climate change and natural disasters.

Expressing Nepal's full confidence on principles, values and goals of the ACD, he said that ACD should play a significant role in strengthening mutual trust, forging common understanding, and promoting cooperation and collaboration among the members for peace, stability, shared development, and prosperity of the Asian nations.

The meeting was hosted by Turkey which is the current chair of the ACD.

Published in The Rising Nepal daily on 22 January 2021. 

NIBL approves 18.5% dividend

Kathmandu, Jan. 21

Nepal Investment Bank Limited (NIBL)’s 34^th Annual General Meeting (AGM) has approved 18.5 per cent dividend – 13 per cent bonus shares and 5.5 per cent cash dividend - on its total paid-up capital.  

Chairman of the bank Prithivi Bahadur Pande, informed the virtually held AGM on Thursday decided about the dividend, the bank said in a statement.

In the last fiscal year 2019/20, the bank earned Rs. 2.42 billion net profit.

It has paid-up capital of Rs. 14.24 billion. The deposits increased to Rs. 166 billion from the previous year’s total Rs. 152 billion. Similarly, total lending reached Rs. 141 billion compared to previous year’s Rs.127 billion.

The bank has 83 branches, 128 ATMs, 20 extension counters, 10 revenue collection counters and 59 branchless banking counters.

Published in The Rising Nepal daily on 22 January 2021. 

Dedicated units at customs to facilitate vaccine import

Kathmandu, Jan. 20

The Department of Customs on Wednesday said that the dedicated units at the main customs points, especially at the Tribhuvan International Airport (TIA), would be established to facilitate the rapid clearance of medicines and materials needed for the vaccination against the COVID-19.

A Rapid Action Team would also stay alert at the department to assist should any issue arises in the import process of such critical goods.

“If the documents related to the import of items needed for the COVID-19 vaccines are provided to the DoC before the import of the goods, arrangements would be made for the pre-arrival processing,” the department said in its statement.

It has published a new process for the rapid clearance of the materials of vaccination against COVID-19. The announcement coincides with India’s decision to provide 1 million doses of vaccines to Nepal.

In case of the documents that do not mention the amount of the vaccines and price, coordination with the Ministry of Health and Population would be established to facilitate. A certificate for the import of vaccines from the Department of Drug Administration (DDA) would help in rapid clearance.

The DoC also said that the vaccines could only be imported from the dedicated customs points and coordination will be made with all the stakeholders in the districts where such points are located.

“Import of cold chain equipment, containers and boxes with the condition to return to the country of export would also be facilitated,” said the department.

Published in The Rising Nepal daily on 21 January 2021. 

FNCCI urges foreign investors to come to Nepal

 Kathmandu, Jan. 20

The Federation of Nepalese Chamber of Commerce and Industries (FNCCI) has urged investors and businessmen of  the Asian countries to come to Nepal for investment.

“Nepal is located between the two largest markets with 2.7 billion population of the world. It has open border and duty free access to India while China has granted duty free access for about 8,000 products,” chairperson of FNCCI’s Bi-national and NRN Coordination Forum Desh Bandhu Basnet (Ajit) informed the investors at ‘The Economic state of play in the Asian Cooperation Dialogue Member Countries’ organised during the Asian Cooperation Dialogue (ACD) on Wednesday.

The meeting was organised as a side-line event of the Foreign Minister’s Meeting of the ACD. It was organised by the government of Turkey.

In addition to this, Nepal’s 77 products have duty free access in the United States and duty free quota free access to the European Union. It has high potential in tourism, agriculture, clean energy and minerals as well.

“The country is endowed with young working age population, low cost of labour. It is the member of SAARC, BIMSTEC, WTO, BRI, MIGA and UNCTAD,” Basnet said.

He also told the investors about the facility of two ports in India and seven in China, including three dry ports.

“Having such attractive potential for trade, tourism and investment, as well as advantageous location, I would like to invite businessmen from all the 35 members of ACD nations, to come to Nepal to establish business relationship,” he said in the conference organised virtually.

He emphasised on boosting the existing trade relations and exploring the new products for trade, and improving people to people relations among the member nations to promote trade connectivity.

Meanwhile, the FNCCI has expanded its Start-up and Innovation Committee.

The business body on Wednesday added Siddanta Raj Pandey and Suman Shakya as the joint-chairpersons and Prakash Dev Palikhe, Niraj Khanal, Dipendra Chaulagain, Mausami Shrestha, Sumana Shrestha and Swarna Tamrakar as members.

Likewise, Tenzing Sonar Gomsar and Kabiraj Joshi are inducted as the invitee members.

The advisors of the committee are Om Raj Bhandari, Saurabh Jyoti and Anil Chitrakar.

The meeting of the committee chaired by Ranjit Acharya decided to arrange seed capital for about 50 start-ups.

Published in The Rising Nepal daily on 21 January 2021. 

Visit has cemented Nepal-India ties: Gyawali

Kathmandu, Jan. 16

Minister for Foreign Affairs Pradeep Kumar Gyawali has said that his visit to India has further consolidated the intimate and multidimensional relations between two inextricably linked neighbours -- Nepal and India. While there, both countries held in-depth discussions on the review of 1950 Peace and Friendship Treaty, report of the Eminent Persons Group (EPG) and sorting out the border disputes.

Talking to journalists upon his arrival at the Tribhuvan International Airport on Satuday afternoon, he said five areas of cooperation were primarily discussed during the meeting of the Nepal-India Joint Comimission, held on Friday.

“Meeting of the Nepal-India Joint Commission has reviewed issues like political, security and border; connectivity/infrastructure and economic cooperation; trade and transit; energy and water resources; tourism and education and agreed to promote bilateral cooperation in these areas,” he added.

According to him, India has assured Nepal that it would give Nepal high priority for supplying COVID-19 vaccines.

Likewise, discussions were held on opening the aviation and land routes that were closed due to the pandemic, expediting the process of handing over 11 sections of the Postal Highway and completing its remaining three sections, in addition to expanding the railway line from Kurtha to Bardibas. Currently, the railway line connects only two places -- Jaynagar (India) and Kurtha (Nepal).

“We also talked about initiating the construction of Integrated Check Post at Bhairahawa border, connecting four-lane road, being constructed near Mahakali River, with Indian national highways, and construction of cross-border economic zones,” said Gyawali, adding, “agreement has been reached to prepare the Detailed Project Report (DPR) of the Pancheshwar Multipurpose Project, while discussions were also held about constructing three motorable bridges on Mahakali River at Sirsa, Jhulaghat and Darchula”

The two sides reached an agreement to review both Transit and Railway and Trade Treaties, he added.

Both countries have also agreed to accord high priority to the development of Bhairahawa-Gorakhpur high voltage transmission line as well as other cross-border transmission lines.

Likewise, the perennial issue of inundation of Nepali land due to the construction of roads and other infrastructure on the Indian side also featured in the discussion. Both the countries discussed implementing the past agreements to address that problem.

Minister Gyawali had left for New Delhi on Thursday leading a delegation that included Foreign Secretary Bharat Raj Poudyal, Health Secretary Laxman Aryal, Nepali Ambassador to India Nilambar Acharya, together with other government officials.

He held a delegation-level discussion with his Indian counterpart S. Jaishankar, along with a private meeting.

FM Gyawali met Indian Minister for Defence Rajnath Singh, and delivered a lecture on Nepal-India Relations at the Indian Council of World Affairs on Friday.

This is the first top-level visit from Nepal to India, which, in November 2019 had published a map including Nepal’s Kalapani, Lipulek and Limpiyadhura as its territory, and ‘unilaterally’ built a road to Nepal-China border in May 2020.

The bilateral relations between the two countries soured in its aftermath. However, rapprochement gained momentum after Prime Minister KP Sharma Oli telephoned Indian PM Narendra Modi congratulating him on the occasion of India’s Independence Day on August 15 last year.

 Published in The Rising Nepal daily on 17 January 2021. 

 

Banks mull over publishing financial reports in Nepali

Kathmandu, Jan. 15

Vice president of Nepal Bankers’ Association (NBA) Anil Upadhyaya has said that the financial reports of the banks and financial institutions (BFIs) need to be published in simple form and Nepali language.

“The reports are for the common public and especially the investors of the BFIs most of whom do not have idea about the difficult technical terms and structure of the financial reports, therefore, we are thinking of publishing them in Nepali language as well,” he said while speaking at a training on Nepal Financial Reporting Standards organised by Nepalese Association of Financial Journalists (NAFIJ) on Friday.

He said that the reports in the past were prepared just to show the regulator but now millions of investors are interested in such reports which had demanded simplicity in it.

According to him, bankers have started discussion on the issue and the NBA would continue it.

The training was facilitated by Assistant Director of Nepal Rastra Bank Sujan Khanal, Financial Controller of Standard Chartered Bank Suraj Lamichhane and senior economic journalist Yagya Banjade. Altogether 30 economic journalists were present in the training.

Published in The Rising Nepal daily on 16 January 2021. 

Mobile app helps pay taxes from any bank

Kathmandu, Jan. 15

Tax payers can now pay their tax liability from any bank with the help of PhonePay application in their cell phones.

The customers of the tax office could pay the tax only through the Everest Bank. PhonePay and Everest Bank signed an agreement to this effect on Friday. Bank’s Deputy General Manager Ashutosh Sharma and PhonePay’s Chief Technology Officer Diwas Sapkota signed the agreement.

The tax payers can pay the Value Added Tax (VAT), property tax, business tax and other service charges from their mobile banking. It has ended the obligation to reach the Inland Revenue Offices and stand in a queue to pay the taxes.

PhonePay has 52 banks and financial institutions in its network, 1.1 million mobile banking users and 160,000 merchants.

Published in The Rising Nepal daily on 16 January 2021. 

India assures Nepal of availing COVID-19 vaccines

Kathmandu, Jan. 15

India has assured Nepal of its support in availing COVID-19 vaccines.

In the sixth meeting of Nepal-India Joint Commission held in New Delhi, India on Friday, India assured that the requirements of Nepal would be in priority consideration after the roll-out of vaccines, said Embassy of Nepal in New Delhi in its statement.

The JC appreciated the close coordination between the two sides in facing the challenges posed by the COVID-19 pandemic while Nepal thanked India for its support of essential medicines and medical equipment.

The meeting discussed the boundary matter and expressed the commitment to early completion of the boundary works in the remaining segments.

“It also discussed the review of the Peace and Friendship Treaty of 1950, submission of the report of the Eminent Persons Group, and air entry routes,” said the embassy.

Talking on the boundary issue, Minister for Foreign Affairs Pradeep Kumar Gyawali said that Nepal desired to start the discussion on boundary issue with India.

 

Nepal wants boundary discussion with India

“We desire to start conversation with a view to resolving the question of boundary alignment in the remaining segments,” he said during a talk at the Indian Council of World Affairs (Sapru House) on Friday.

In a speech sent to media by the Embassy in New Dehli, Minister Gyawali said that of the 1,800 km long international boundary that Nepal and India share, work remains to be completed in some kilometres.

Stating that both sides have agreed to resolve the boundary question through talks and the two neighbours have also shown wisdom that despite the differences in one area, the momentum of our overall engagements is continued, he said, “We are also mindful that we should not let any outstanding issue between us be there forever and become irritant in an otherwise friendly relationship.”

In his speech delivered among the distinguished diplomats, intellectuals and media persons, he reminded India of the report of the Eminent Persons Group (EPG) on Nepal India Relations.

“We created an Eminent Persons’ Group in 2016 and mandated them to review the entire spectrum of Nepal-India relations and recommend measures to upgrade them in the changed context. The EPG has done its work and our job is to receive their report and implement it,” he stated.

 

Bilateral treaties were discussed

Likewise, the Joint Commission deliberated on the progress in the discussions held between the two sides to review the bilateral treaties on trade, transit and rail services.

Both sides agreed for an early conclusion of the review of Treaty of Trade, Treaty of Transit and the amendments to Rail Services Agreement with a view to further strengthen cooperation in these fields, read the statement.

Progress in operationalisation of connectivity through inland waterways was also discussed.

Minister Gyawali participated in the meeting with a high-level delegation including Foreign Secretary, Health Secretary, Nepal’s Ambassador to India and other government officials. Indian delegation was led by its Minister for External Affairs S. Jaishankar.

Minister Gyawali and his Indian counterpart S. Jaishankar also held a meeting. Foreign secretary of Nepal and Ambassador to India were present in the meeting, Nepali embassy said in a tweet.

The meeting reviewed the entire spectrum of bilateral relations that included the important areas of Covid-19 vaccine, boundary and border management, connectivity and economic cooperation, trade and transit, power and water resources, and culture and education.

The meeting also agreed to further speed up the implementation of the ongoing and planned bilateral projects such as the new Integrated Check Posts/Inland Container Depot, including at Dodhara-Chadani, remaining cross border railways, roads, and transmission lines.

It agreed to expedite the work for 400 Kv Butwal-Gorakhpur cross-border transmission line.

 

Early DPR of Pancheshwar

Likewise, reiterating the importance of Pancheshwar Multipurpose Project and taking note of the positive discussion at the recent bilateral meeting of the Secretary-level delegations held in New Delhi, the Joint Commission agreed for early finalisation of the project DPR.

The Nepal-India Joint Commission was established in 1987 with a view to review and further strengthen all aspects of bilateral relations. 

Minister Gyawali will return to Kathmandu on Saturday.

Published in The Rising Nepal daily on 15 January 2021.