Efforts continue to rescue Nepalis from Afghanistan

Kathmandu, Aug. 28

Amidst the confusion of exact number of Nepalis stuck in war-torn Afghanistan, 504 Nepalis have returned home, 11 have reached New Delhi and eight have left Kabul on Saturday, while 398 Nepalis have registered their whereabouts in the government portal.

US Media, including the New York Times, reported that about 15,000 Nepalis were working in Afghanistan at the time when the Taliban forces took over Kabul a few months after the United States began to withdraw its forces from the war-torn country.

But Special Inspector General for Afghanistan Reconstruction estimated that about 7,000 foreigners were in Afghanistan as the contract workers while Nepal government puts the number at a maximum of 1,500 Nepalis.

Speaking at the Labour and International Relations Committee of the House of Representatives about a couple of weeks ago, Foreign Secretary Bharat Raj Paudyal said that there were over 1,500 Nepalis working in Afghanistan with labour permits. He also refuted the media reports about the staggering number of Nepalis staying there illegally.

While the government presents the data of the Nepalis who left the country for Afghanistan through formal channel and fed by the manpower agencies, a large number of Nepalis were recruited informally and taken to the NATO (North Atlantic Treaty Organization) bases and elsewhere in Afghanistan.

Most of the Nepalis hired by the contractors like Fluor Corporations and many others for the NATO forces in Afghanistan were first taken to Dubai in ‘Tourist Visa’ and lifted from there without any visa or entry stamps, said Prajal Choudhary, who worked for a couple of years at Bagram Air Base in Afghanistan.

Only the contractor companies could have the exact number of Nepalis in Afghanistan but since multiple companies are involved in hiring, transporting and managing foreign workers including mercenaries in various bases of NATO there, it is difficult to obtain cumulative data.

According to Choudhary, Nepalis were working in Afghanistan as the security guards, drivers and helpers. War equipment disposal was also managed by Nepalis, hundreds of Nepalis were involved in such works, he said.

There were more than 100 bases of NATO about a decade ago which were increased in the later years and most of them had Nepali guards, drivers and helpers, stated Choudhary.

Another Afghanistan-returnee said that although he worked for NATO forces in Afghanistan for more than five years and made a round-trip to Nepal during his service, his passport bears no stamp or visa information to and from Afghanistan. Officially, he never visited Afghanistan but in reality he had earned millions of rupees there.

He said that food supply companies like Supreme Foodservice also hired Nepali workers. In later years, Afghanistan allowed foreign workers to enter the country which contributed to the increased number of migrants.

Meanwhile, the Ministry of Foreign Affairs (MoFA) said that all diplomatic channels were opened to facilitate the rescue of Nepalis from Afghanistan. It has launched a portal https://nepalconsular.gov.np/ to register information of Nepalis in Afghanistan which can be filled by the concerned individuals themselves or by their families and relatives.

Likewise, people can contact Department of Consular Services (DoCS) at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

The MoFA said to The Rising Nepal that if the exaggerated number about illegal migrant workers was true, the portal would have been flooded with the information since their families can fill the form.

“The portal is not only for the Nepalis who reached Afghanistan through formal channel but for all,” Spokesperson of the Ministry Sewa Lamsal said.

Meanwhile, on Saturday, additional eight Nepalis have left Kabul for Nepal. Thirty-four Nepalis who were stuck out of the Kabul Airport are transferred to safer location and the government is making necessary coordination to bring them home, said the MoFA in a statement. 

Published in The Rising Nepal daily on 29 August 2021. 

Over 1,300 people still unaccounted for

Kathmandu, Aug 28

Over 1,300 people in connection with the decade-long armed conflict are still unaccounted for, reported the International Committee of the Red Cross (ICRC) and Nepal Red Cross Society (NRCS).

According to the Updated list 2021, a joint publication of the ICRC and the NRCS, 1,329 people are still missing in connection with the decade-long (1996-2006) internal armed conflict in the country.

The report will be released during an event to be held on Sunday (August 29) to mark the International Day of the Disappeared.

ICRC said in a Saturday statement that the ICRC, NRCS and a network of conflict victims’ associations would observe the Day.

“Respecting the safety protocols issued by the government in relation to the COVID-19 pandemic, the event will be held virtually,” read the statement.

The online event will include speeches from senior leaders of the International Red Cross and Red Crescent Movement, representatives of the family associations and family members of missing people.

Representatives from Ministry of Law, Justice and Parliamentary Affairs, Commission of Investigation on Enforced Disappeared Persons and National Human Rights Commission will also be part of the event.

This list has been published annually since 2007. It will also be available at https://familylinks.icrc.org/nepal which is part of the global Restoring Family Links website.

The website is managed by the ICRC and the National Red Cross and Red Crescent Societies to help reconnect families separated due to a conflict, a natural disaster or migration.

Sandesh Shrestha, Head of the ICRC in Nepal, said, “Today our identity in Nepal is related to the transitional justice process, focusing on the families’ right to know what happened to their missing relatives.”

Published in The Rising Nepal daily on 29 August 2021.  

RBB Mutual Fund 1 to be listed at NEPSE

Kathmandu, Aug. 28

RBB Merchant Banking Limited has signed an agreement with the Nepal Stock Exchange Limited (NEPSE) to list close-ended plan ‘RBB Mutual Fund 1’.

Acting Chief Executive Officer of NEPSE Niranjan Phuyal and RBB Merchant’s CEO Badri Prasad Pyakurel signed the agreement at a programme on Friday.

The fund promoted by Rastriya Banijya Bank Limited is the first close-ended plan of the bank.

Approximately 125 million units of shares with Rs. 10 per unit will be listed at the stock exchange.

The total size of the fund is Rs. 1.25 billion.

RBB Merchant is the manager of the fund. It is a subsidiary of the RBB. 

Published in The Rising Nepal daily on 29 August 2021. 

Banks given right to evaluate customers: NRB

 Monetary Policy 2021/22

Kathmandu, Aug. 27

Governor of the Nepal Rastra Bank Maha Prasad Adhikari has said that it is impossible to reach every entrepreneur or borrower across the country with the limited resources.

There will always be limitations even if the economy grows exponentially so eligible entrepreneurs or individuals will obtain loan from the banks and financial institutions (BFIs), he said while speaking at a discussion on the Monetary Policy for the current Fiscal Year 2021/22 organised by Nepalese Association of Financial Journalists (NAFIJ) on Friday.

According to him, monetary policy has its limitation and it supports the businesses and people while remaining within that limitation.

“Rs. 4200 billion loan is mobilised by the BFIs so far and still it is not possible to support everyone. Therefore, the central bank wants to mobilise the BFIs to evaluate the borrowers as they know their customers better than any other institutions including the NRB,” he said while addressing the virtual programme.

 “Monetary policy has given the responsibility to the BFIs to identify reliable customers and mobilise concessional loans. If the customer goes bankrupt, respective BFI will be in trouble so this is launched with a pragmatic approach,” he added.

Reiterating that the first priority of the central bank was the recovery of the COVID-19 affected business and industries, Governor Adhikari maintained that hardest hit businesses were given higher priority rather than opting for the blanket facilitation policy adopted last year when the first wave of the COVID-19 pandemic battered the economy and businesses.

A novel policy

The governor termed the policy to set 2 per cent premium on small size loans below Rs. 10 million as a ‘novel policy’ of the NRB. There are 1.68 million borrowers, of which 1.6 million are small borrowers.

Governor Adhikari defended the move of the central bank to cap the margin lending. “There was a trend of obtaining margin lending at the highest using the shares bought every time. NRB wants to check the cycle of getting/demanding loans against share certificates, while keeping Rs. 120 million limit which is among the highest compared to the neighbouring countries,” he said.  

This provision has saved the BFIs from unwanted pressures from the investors. However, business associations like the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chambers of Commerce (NCC) and Confederation of Nepalese Industries (CNI) are voicing against the provision to soothe their members and, probably, the vote banks, according to the governor.

Finance innovative ideas

Vice-President of CNI Rohit Gupta suggested that innovative ideas should get easy financing support from the BFIs.

He said that standards and parameters for the various levels of industries is different based on the individual ministry which has created obstacles in making concentrated lending.

Gupta also said that while many 'real sector' enterprises are willing to come to the stock market, there is a policy gap for the same.  

Export promotion ignored

Secretary of the Federation of Nepalese Export Entrepreneurs Association (FEEN) Tenzing Sherpa said that the Monetary Policy was almost silent on export promotion.

According to him, obtaining refinancing facility for the small and medium enterprises was a tough task as every bank demands separate types of documents to extend refinancing.

“There should be uniform policy for refinancing across the BFIs. Regular capital loan should also be provided at lower interest rates,” he said.

Stating that export oriented enterprises are not getting refinancing easily, Sherpa said that they have not felt relief in terms of the facilities announced to rehabilitate the businesses battered by the COVID-19 pandemic.

Contracted policy

Senior Vice President of NCC Kamlesh Kumar Agrawal maintained that in terms of loan mobilisation, the policy is contracted.

He also said that there was a challenge in evaluating the enterprises by the BFIs to extend loans. BFIs do not have system and expertise to evaluate the business and they might not be fair to some businesses, he said. 

According to him, it is an impractical to approach three banks to get maximum loan of Rs. 120 million in margin lending.

“I hope that the central bank will review the policy in the periodic review of Monetary Policy,” he said. 

Banks want to set interest rates

President of Nepal Bankers' Association Bhuvan Dahal demanded that the NRB should allow the BFIs decide about the interest rate in terms of large enterprises.

He said that while depositors are getting better rate at fixed deposits, even higher than the inflation rate, due to the competition in the market, banks’ income is contracted which is limited to 11-12 per cent return.

“If we minus share market, the BFIs do not have significant industrial growth. Some of the hardest hit sectors need better address while some sectors have made good recovery and earned good returns as well so banks should have the say on the interest rates on large enterprises,” he said.

Dahal suggested the NRB to implement the Credit Deposit ratio in three stages: 92 per cent by mid-Januray 2022, 91 per cent by mid-April and 90 per cent by mid-July.

President of Development Bankers Association Pradhyuman Pokharel said that there should be a system to recognise the good players to motivate the BFIs to make further improvement.

Likewise, President of Nepal Microfinance Banker’s Association Basanta Lamsal maintained that the Monetary Policy was not clear about cross-holding of the BFIs.

He appreciated the priority of the policy to merger and acquisition of the microfinance institutions and approval to establish their contact offices in the capital city.

Representing Nepal Finance Companies Association, Chief Executive Officer of ICFC Finance, Sunil Pant, said that iquidity is under pressured with the beginning of the fiscal year but finance companies are in comfortable position. 

Published in The Rising Nepal daily on 28 August 2021. 

Process on to bring Nepalis reached Delhi from Afghanistan to Kathmandu

Kathmandu, Aug 27

The Ministry of Foreign Affairs (MoFA) said on Friday that a process to bring the Nepali nationals reached New Delhi following their rescue from Afghanistan has begun.

Eleven Nepalis had reached New Delhi, India, from the war-torn country on Thursday.

According to the Ministry, additional 42 Nepalis are in contact with the government.

They are staying in a group in Kabul.

People who are in Afghanistan and have not registered their names at the portal of the Department of Consular Services (DoCS) - https://nepalconsular.gov.np/ can register themselves or ask their families to make an entry of their whereabouts.

People can contact DoCS at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

Meanwhile, the Ministry has also urged the returnee migrants to inform the government through the web portal when they safely reach their home or other destination. 

Published in The Rising Nepal daily on 28 August 2021. 

Govt makes preparations to replace the budget of FY 2021/22

Kathmandu, Aug 26

The government has started preparations for the Replacement Bill to replace the budget for the current fiscal year 2020/21 announced through ordinance by the previous KP Sharma Oli-led government.

According to the Ministry of Finance (MoF), Finance Minister Janardan Sharma has begun the work on the Replacement Bill following the accreditation of NCP (Unified Socialist) and Democratic Socialist parties by the Election Commission of Nepal (ECN).

It has collected the suggestions from the secretaries of various ministries regarding the bill on Thursday.

Speaking at the meeting with secretaries at the ministry, FM Sharma highlighted the priorities of the bill and directed the secretaries to modify the programmes of the budget of the current year in way it would direct the economy to the productive sector.

“Budget should be modified in a way that it will reinforce the implementation of federalism, maintain fiscal discipline, increase capital expenditure and give priority to capital formation programmes,” he said.

Likewise, the ministries are also asked to send the revision proposal according priority to poverty reduction, job creation, expansion of health facility, and education, agriculture and tourism.

Minister Sharma said that the national pride projects would be redefined and relisted and enough attention would be given to the integrated mobilisation of the resources stuck at non-performing projects.

Similarly, projects announced without preparedness and have no resource guarantee would be reconsidered and balance between the plan and budget would be maintained.

FM Sharma has directed the secretaries to send the modified budget and programmes to the MoF by Friday.

Vice Chairman of the National Planning Commission Dr. Biswo Nath Paudel suggested implementing a ‘regular tracking system’ to increase capital expenditure. He also said that new policy was required in the management of various public corporations like Nepal Airlines Corporation that have become parasites rather than result-oriented.

Published in The Rising Nepal daily on 27 August 2021. 

Inflation went down significantly, remittance increased

 Annual macroeconomic outlook 2020/21

 

Kathmandu, Aug 26

Average consumer price inflation has come down to 3.6 per cent in the last Fiscal Year 2020/21 from 6.15 per cent a year earlier.

The average consumer price inflation stood at 3.60 percent in 2020/21 compared to 6.15 percent in FY 2019/20, the Nepal Rastra Bank (NRB) said in its annual report on Macroeconomic Situation of the country published on Thursday.

The average consumer price of ghee and oil, pulses and legumes, tobacco products, and transportation sub-groups rose to 17.54 per cent, 10.65 per cent, 9.83 per cent and 6.41 per cent respectively on annual basis.

However, the year-on-year consumer price inflation stood at 4.19 per cent in mid-July 2021 compared to 4.78 per cent a year ago.

Food and beverage inflation stood at 5 per cent in 2020/21 compared to 8.16 percent a year ago while non-food and services inflation remained at 2.51 per cent last year compared to 4.61 per cent in 2019/20.

Regionwise, the Kathmandu Valley witnessed 3.33 per cent CPI based inflation, Terai 3.68 per cent, Hill 3.87 per cent and Mountain 2.87 per cent.

 Such inflation was 6.96 per cent, 6.29 per cent, 5.10 per cent and 4.91 per cent respectively in the previous fiscal year, reported the NRB.

But the average wholesale price inflation went up to 7.61 per cent in 2020/21 compared to 6.87 per cent a year ago.

In 2020/21, merchandise exports increased by 44.4 per cent to Rs.141.12 billion compared to an increase of 0.6 percent in the previous year. Destination-wise, exports to India and other countries increased by 51.7 per cent and 27.7 per cent respectively whereas exports to China decreased by 14.7 per cent.

Likewise, merchandise imports increased by 28.7 per cent to Rs.1539.84 billion against a decrease of 15.6 per cent a year ago. The increase in import has resulted in Rs. 1398.71 billion trade deficit.

Remittance up

Despite the decreased number of Nepali migrant workers going abroad for jobs, remittance inflows increased by 9.8 per cent to Rs. 961.05 billion in 2020/21 against a decrease of 0.5 per cent in the previous year.

Number of Nepali workers taking approval for foreign employment and renew entry went down by 62.8 per cent and 46.8 per cent last year.

Net transfer to Nepal increased by 9.1 per cent to Rs. 1071.35 billion.

Rs. 149 billion Refinancing mobilised

The central bank approved refinancing facility of Rs. 148.75 billion. The outstanding amount of refinance provided by the NRB remained at Rs.122.70 billion in mid-July 2021.

Likewise, the outstanding concessional loan is Rs.161.44 billion extended to 104,109 borrowers. Of which, Rs.106.98 billion has been extended to 46,057 borrowers for commercial agriculture and livestock businesses.

Likewise, Rs.50.98 billion loan was extended to 55,551 women entrepreneurs.

Business continuity loan of Rs. 956.7 billion has been extended to the COVID-19 affected tourism, cottage, small and medium industries for payment of salaries to workers and employees in line with 'Business Continuity Loan Procedure, 2077'.

Current account deficit soared

The current account remained at a deficit of Rs.333.67 billion in 2020/21 against Rs.33.76 billion in the previous year. Likewise, Balance of Payments (BOP) registered a surplus of Rs.1.23 billion in the review year compared to a surplus of Rs.282.41 billion in the previous year.

Gross foreign exchange reserves decreased 0.2 percent to Rs.1399.03 billion in mid-July 2021 from Rs.1401.84 billion in mid-July 2020.

Similarly, fiscal position of the government, based on banking transactions, remained at a deficit of Rs.267.97 billion in 2020/21 compared to a deficit of Rs.267.45 billion a year ago.

According to the report, three rural municipalities – Rubi Valley of Dhading, Junichande of Jajarkot and Saipal of Bajhang, do not have any branch of banks.

Published in The Rising Nepal daily on 27 August 2021. 

42 Nepalis reach Delhi from Afghanistan

Kathmandu, Aug 26

Eleven Nepalis reached New Delhi from Afghanistan on Thursday.

According to the Ministry of Foreign Affairs (MoFA), additional 45 Nepalis are stuck at the Kabul Airport.

“They are kept near the airport and coordination is being made at various levels to take them inside the airport,” said the MoFA in a statement.

The Ministry reiterated that continuous efforts were put to bring Nepalis who were rescued from Afghanistan and are now in Doha, Dubai, London and New Delhi. Kabul has not opened its sky for the civil aviation services.

People who are in Afghanistan and have not registered their names at the portal of the Department of Consular Services (DoCS) - https://nepalconsular.gov.np/ can register themselves or ask their families to make an entry of their whereabouts.

People can contact DoCS at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

Meanwhile, the Ministry has also urged the returnee migrants to inform the government through the web portal when they safely reach their home or other destination.

Published in The Rising Nepal daily on 27 August 2021. 

NBL appoints Aryal as Chair of the BoD

Kathmandu, Aug 26

Suman Raj Aryal was appointed as the Chairman of the Board of Directors of Nepal Bank Limited (NBL) on Thursday. He took the oath of the post and privacy from Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, on the same day.

Aryal was appointed by the government as a director of the bank and the meeting of the BoD Thursday morning had elected him to the Chairman, said Prakash Kumar Adhikari, Spokesperson for the bank.

Aryal is the Financial Comptroller General.

Speaking on the occasion, Governor Adhikari wished all the best to the new chairman of the company and expressed hopes that the bank would establish it as a competitive financial institution in the market. He also hoped that the bank would contribute to the implementation of the programmes and policies formulated by the government for the entrepreneurship development and job creation.

Aryal expressed happiness on his appointment as the chairman of the first bank in the country and voiced commitment to contribute to the prosperity of the bank and its business development.

Chief Executive Officer of the bank Krishna Bahadur Adhikari had informed about the latest financial status of the bank.

Deputy Governors duo Nilam Sharma Dhungana and Bam Bahadur Mishra, and Execuvite Director of Banks and Financial Istitution Regulation Department at the NRB Dev Kumar Dhakal, members of the NBL BoD Dipendra Bikram Thapa, Suman Dahal, Dr. Sabitri Ranjit Shrestha, Bibek Shamser JBR, Bishnu Kumar Agrawal and Om Krishna Shrestha were also present on the ocassion.

Published in The Rising Nepal daily on 27 August 2021. 

Bambinos.live offers 100 programmes

Kathmandu, Aug 26

Bambinos.live, a digital academy for extracurricular education, has more than 100 programmes covering the curriculum as well as supporting the essentials.

It offers over a hundred courses in areas like public speaking, creative writing, abacus, art, music, moral education, and fitness education, said the company in a statement on Thursday.

Founded in 2020, the academy was created by Explorer Wings Pvt. Ltd. with children aged between three and 15 years in mind.

“This alternative medium is effective because there is little interaction between the children due to the Covid-19 pandemic. This course was created with the understanding that in these difficult times, only knowledge can help you compete,” said the company.

This learning platform allows students to learn from subject matter experts and improve their presentation skills both inside and outside of the classroom. It has the facility of courses that are delivered by teachers as well.

Published in The Rising Nepal daily on 27 August 2021. 

Foreign secretary urges for Thai investment in Nepal

Kathmandu, Aug 25

Foreign Secretary Bharat Raj Paudyal urged Thailand to support Nepal in attracting Thai investment.

Speaking at the fifth meeting of Nepal-Thailand Joint Commission held virtually on Wednesday, he underscored the need for enhancing economic engagements between the two countries.

He apprised the Thai delegation of the policy, legal, institutional and procedural reforms undertaken by the Government of Nepal with a view to creating an enabling environment for foreign investment in the country, said the Ministry of Foreign Affairs (MoFA) in a statement.

Foreign Secretary Paudyal and Permanent Secretary for Foreign Affairs of Thailand, Thani Thongphakdi led their respective delegations to the meeting.

“During the meeting, the two sides took stock of overall state of bilateral relations between Nepal and Thailand and exchanged views on further promoting cooperation between the two countries,” read the statement.

The two sides discussed the challenges posed by the COVID-19 on the lives and livelihoods of peoples of both the countries and agreed to work together in combating the pandemic.

According to the MoFA, Paudyal thanked the Royal Family of Thailand, the Thai Foreign Ministry, the Veerapuchong Foundation, and the Royal Thai Monastery, Lumbini for providing Nepal with medical equipment and supplies to combat the ongoing COVID-19 pandemic.

On the occasion, issues pertaining to Nepal-Thailand relations including technical cooperation, trade and investment, tourism and culture, people-to-people contacts, and education were discussed.

The two sides also exchanged views on enhancing cooperation at the regional level including through BIMSTEC.

Published in The Rising Nepal daily on 26 August 2021. 

42 Nepalis waiting in Kabul Airport

Kathmandu, Aug 25

While the Nepalis rescued from Afghanistan continue to return to their home, 42 Nepali nationals are waiting for a flight at the Kabul Airport, according to the Ministry of Foreign Affairs (MoFA).

It said that continuous efforts were put to bring Nepalis who were rescued from Afghanistan and are now in Doha, Dubai, London and New Delhi. Kabul has not opened its sky for the civil aviation services.

People who are in Afghanistan and have not registered their names at the portal of DoCS can register themselves or ask their families to make an entry of their whereabouts.

Updates can be fed in the online registration portal https://nepalconsular.gov.np/ 

People can contact DoCS at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

Meanwhile, the Ministry has urged the returnee migrants to inform the government through the web portal when they safely reach their home or other destination.

Published in The Rising Nepal daily on August 26, 2021. 

Revenue collection soars, but budget spending meagre

 Kathmandu, Aug. 22

The government has collected about Rs. 100.5 billion revenue in the first five weeks of the current Fiscal Year 2021/22. The collection is 8.74 per cent of the total annual target of Rs. 1151.6 billion as estimated in the budget of current fiscal, according to the Daily Budgetary Report of the Financial Comptroller General Office (FCGO).

Likewise, total government receipts during the first five weeks of the FY amount to Rs. 113.6 billion – about 9.35 per cent of the annual target of Rs. 1214.9 billion.

This is a significant increase compared to the collections in the last fiscal 2019/2020 when the government could raise only 6.4 per cent revenue of the total target of Rs. 1011.7 billion while the total government receipts stood at 6.81 per cent.

If this trend continues till the end of the year and there are no obstructions and restrictions to the economic activities, the revenue target will be met easily. In addition to this, revenue collection increased during the last quarter of the fiscal.

However, although revenue collection was up the mark compared to the previous year, there is no reason to have larger hopes since the money raised in the first month of the fiscal year is also from the cash returns to the state coffers.

"Budget that various agencies could not utilize in the last fiscal year 2019/20 is surrendered to the capital fund of the government. This year, a significant amount of conditional and matching grant is returned from the budget of the last fiscal," said Spokesperson of the FCGO, Gyanendra Poudel.

According to him, the outstanding trend of revenue collection would not be continued in the current and coming months.

FCGO statistics show that in the first five weeks, Rs. 83.3 billion tax revenue and Rs. 17 billion non-tax revenue is collected which make 8.03 per cent and 15.22 per cent of their annual targets respectively.

The government aims to raise Rs. 1038.1 billion tax and Rs. 113.4 billion non-tax revenue in the current FY.

While the revenue collection soared, budget mobilisation has remained pathetic in the first five weeks of the current fiscal.

Despite limited restrictions on a few service businesses including travel, tourism, entertainment and education, budget execution couldn't take momentum and only 1.11 per cent of the Rs. 1647.5 billion is spent so far. Capital spending stands at only 0.25 per cent of Rs. 435.2 billion.

A Finance Ministry source said that the lack of leadership at various development ministries has hampered budget spending.

Last year, amidst the raging coronavirus and limited opening of business and economy, about 0.17 per cent budget was mobilised where only 0.13 per cent development budget was spent.

Published in The Rising Nepal daily on 23 August 2021.  

39 more Nepalis in Afghanistan come to govt contact

Kathmandu, Aug. 22

Additional 39 Nepali migrants in Afghanistan have come in contact with the Government of Nepal.

Three hundred and seventeen Nepalis have updated their whereabouts on the web portal of the Department of Consular Services (DoCS) till Saturday.

With this, 356 Nepalis have registered their whereabouts in the government portals or informed the government via telephone or social media.

Issuing a statement on Sunday, the Ministry of Foreign Affairs (MoFA) said that the government was coordinating and facilitating the return of Nepali nationals who were rescued from Kabul and reached Doha, Dubai, London and New Delhi.

The Task Force formed to facilitate the rescue of Nepali nationals from Afghanistan also said that it is coordinating and collaborating with the friendly nations which are conducting rescue flights to and from Kabul to bring Nepali migrants home.

A total of 504 Nepalis have returned from the war-torn Afghanistan so far following the takeover of the country by the Taliban rebels.

Returnees are tested for COVID-19 and managed at the holding centre arranged by the government at Samakhushi of Kathmandu Metropolis.

Those who are not listed in the rescue list are being contacted by the MoFA, DoCS and Nepali Embassy in New Delhi, India. According to the MoFA, Suresh Chandra Sharma is coordinating and facilitating in the rescue of Nepalis in Afghanistan as a focal person in Kabul.

People who are in Afghanistan and haven’t registered their names at the portal of DoCS can register themselves or ask their families to make an entry of their whereabouts.

Updates can be fed in the online registration portal https://nepalconsular.gov.np. 

People can contact DoCS at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

Meanwhile, the Ministry has repeatedly urged the returnee migrants to inform the government through the web portal when they safely reach their home or other destination.

Published in The Rising Nepal daily on 23 August 2021.  

504 Nepalis came back from Afghanistan

Kathmandu, Aug. 21

Nepali migrants in Afghanistan continue to return home following the takeover of the country by the Taliban rebels.

Thirty-five Nepali nationals returned to Kathmandu on Saturday – 26 came back via Turkish Air and 9 via Jazeera Airways, informed the Ministry of Foreign Affairs (MoFA).

With this, 504 Nepalis have returned from the war-torn member of the South Asian Association for Regional Cooperation (SAARC).

Returned people are tested for COVID-19 and managed at the holding centre arranged by the COVID-19 Crisis Management Centre (CCMC) at Samakhushi of Kathmandu Metropolis.

Likewise, 317 Nepalis have updated their whereabouts on the web portal of the Department of Consular Services (DoCS).

The Task Force formed to facilitate the rescue of Nepali nationals from Afghanistan said that it is coordinating and collaborating with the friendly nations which are conducting rescue flights to and from Kabul to bring back Nepali migrants.

Its sixth meeting on Saturday discussed the latest updates in Afghanistan, said the MoFA.

“However, people listed for the rescue have their name and passport number duplicated while many people have updated information about an individual,” read the statement.

Those who are not listed in the rescue list are being contacted by the MoFA, DoCS and Nepali Embassy in New Delhi, India. According to the MoFA, Suresh Chandra Sharma is coordinating and facilitating in the rescue of Nepalis in Afghanistan as a focal person in Kabul.

People who are in Afghanistan and haven’t registered their names at the portal of DoCS can register themselves or ask their families to make an entry of their whereabouts.

Updates can be fed in the online registration portal https://nepalconsular.gov.np/ 

People can contact DoCS at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone, Viber and WhatsApp.

Meanwhile, the Ministry has urged the returnee migrants to inform the government through the web portal when they safely reach their home or other destination.

Published in The Rising Nepal daily on 22 August 2021.  

NRNA urges govt to pass Citizenship Bill soon

 Kathmandu, Aug. 21

The Non-Resident Nepali Association (NRNA) has drawn the attention of Minister for Law, Justice and Parliamentary Affairs Gyanendra Bahadur Karki regarding the citizenship bill which is pending at the Federal Parliament for the last two years.

A delegation of the NRNA led by its President Kumar Pant met the Minister in the presence of the members of National Assembly and House of Representatives to urge him to facilitate in getting the bill passed from the house at the earliest.

Drawing the attention of the government behind the delay in passing the instrumental law, Pant said that the ending of the session of the parliament without passing the citizenship bill has affected the amendment of NRNA Act as well.

Resource person of the NRNA on the continuation of citizenship, Saroj Dahal, had updated the meeting about the progress made in terms of providing citizenship to the non-resident Nepalis.

Chief Executive Officer of the NRNA Development Fund, Anal Raj Bhattarai, said that if the government addressed the issues and promoted investment from NRNs in Nepal, the fund could increase to Rs. 50 billion.

Currently, the size of the fund is Rs. 10 billion. The fund is formally registered at the Company Registrar’s Office in Nepal.

Speaking on the occasion, Minister Karki said that there were no problems in citizenship bill in terms of NRNs. According to him, the bill will be passed at the earliest as the government was liberal towards the Nepalis residing in foreign land.

“I will take initiation to address the demands of the NRNs as per the constitutional provisions and would make policy reforms to facilitate you,” he said to the delegation.

Attorney General Khamma Bahadur Khati said that the government should take liberal stance to the NRNs considering their contribution to the motherland.

Chairman of Law, Justice and Human Rights Committee of the Parliament, Laxman Lal Karna, urged the government to address the demands of the NRNs stating that there was consensus on citizenship bill.

Member of the National Assembly, Radheshyam Adhikari, stated that the country should adopt open policy vis-à-vis Nepalis in foreign land in order to stop the brain drain and capital flight. 

Published in The Rising Nepal daily on 22 August 2021. 

Auditor General’s report: Rs. 104bn arrears in public offices

Kathmandu, Aug. 20

Public offices in Nepal have about Rs. 104 billion arrears by the end of the last Fiscal Year 2020/21, according to the Office of the Auditor General (OAG).

The 58^th annual report of the OAG submitted to President Bidya Devi Bhandari by Auditor General Tanka Mani Sharma on Friday reported that the country had to recover Rs. 26.4 billion arrears in the last fiscal but only Rs. 6.1 billion was recovered.

According to the report,  Rs. 9.7 billion in FY 2017/18, Rs. 7.4 billion in FY 2018/19 and Rs. 6.1 billion in FY 2019/20 was recovered after the Auditor General indicated the arrears in its annual reports.

However, the amount of recovered arrears is continuously going down. According to the 57^th Report in 2020 Rs. 7.4 billion was recovered in that year while the amount was Rs. 9.7 billion in 2019. The OAG reports indicate less revenue collection, idle deposits at the treasury, higher payments and expenditures beyond the legal parameters as arrears.

In the last three years, arrears of the federal and provincial offices were gradually decreasing while they are continuously going up in local levels and other organisations and committees.

The size of arrears in the federal government offices has gone down to 2.86 per cent in 2021 from 5.29 per cent in 2019. The amount has also gone down significantly from Rs. 106.3 billion to Rs. 44.3 billion in the past three years.

Likewise, arrears in the provincial offices has decreased to 2.74 per cent from 7.25 per cent, however, in terms of the actual amount it has gone up significantly – from Rs. 19 million in 2019 to Rs. 6.5 billion in 2021.

In terms of local bodies, the size of arrears was 4.22 per cent three years ago which went up to 5 per cent in 2021. But in terms of amount, it increased to Rs. 40.8 billion from Rs. 24.1 billion.

The worst performers in terms of transparency are the other organisations and committees established by the federal and provincial governments. They have about 7.74 per cent of arrears which was Rs. 12.6 billion in the last fiscal.

The OAG has audited a total of 5462 institutions and agencies under various levels of government of which federal ministries and agencies have the lowest arrears in terms of per cent (2.86 per cent) but highest in terms of amount Rs. 44.3 billion. While the provinces have the lowest amount of arrears with Rs. 6.5 billion which makes just 2.74 per cent of the total budget.

The audited amount was Rs. 1555.8 billion of federal agencies, Rs. 237.4 billion of provincial agencies, Rs. 815.9 billion of local bodies. Likewise, Rs. 163.5 billion of 584 committees and other organisations, and Rs. 2555 billion of 81 organised institutions was also audited.

The OAG has commented that the public accountability was poor in terms of budget and project implementation, revenue administration, public property mangement, fiscal federalism execution and public service dissemination.

According to it, the budget of the subnational bodies is dependant on federal grant and most of their prorammes were unproductive and distributory, and administrative costs were high.

It also noted that the government agencies do not have standards and criteria for the facilities of the public office holders and the employees were facility-centred.

Published in The Rising Nepal daily on 21 August 2021. 

Foreign Minister to lead NRNA convention organising committee

Kathmandu, Aug 20

A high-level organising committee is formed in the leadership of the Minister for Foreign Affairs for the organisation of the 10^th World Convention of Non-Resident Nepali Association (NRNA) which is slated for 23-25 October 2021 in Kathmandu.

However, the government is yet to have the Foreign Affairs Minister.

The organising committee will have a member of the National Planning Commission, Secretary of the Prime Minister’s Office, Foreign Secretary, secretaries of other ministries, and high officials from Investment Board of Nepal, Nepal Rastra Bank, Federation of Nepalese Chambers of Commerce and Industry, Confederation of Nepalese Industries, Nepal Chamber of Commerce, NRNA and other concerned agencies.

Issuing a statement on Friday, Ministry of Foreign Affairs said that the government has accorded high priority to mobilising knowledge, skill, capital, technology, network and access of Nepalis residing in foreign countries in socio-economic development in Nepal.

The world convention is organised every two years and the last convention was organised in Kathmandu in October 2019.

Published in The Rising Nepal daily on 21 August 2021. 

Proposed cooperative bank opens contact office

Kathmandu, Aug 20

The proposed Nepal Cooperative Bank has opened its contact office in Mid-Baneshwor Kathmandu.

Chief of Nepali Congress Finance and Cooperative Institution Coordination Department, Ananda Prasad Dhungana and Secretary of the department and Chairman of the Bank Surendra Bhandari jointly inaugurated the office on Friday.

The proposed bank is planning to develop the contact office into a banking office in the next six months. Officials of the bank have been blaming the existing bank of failing to include all as the need behind the opening of the new one.

Dhungana said that the bank would come into operation within six months and maintained that where there is competition there is progress.

“Single cooperative bank could not include all 34,000 cooperatives. Prime Minister Sher Bahadur Deuba also wants to establish the cooperative bank,” he said.

According to him, the bank will come into operation immediately after it gets limited banking transaction license from the Nepal Rastra Bank.

The proposed bank will have Rs. 2.5 billion paid up capital.

Published in The Rising Nepal daily on 21 August 2021. 

GIBL launches healthy women initiative

 Kathmandu, Aug 20

Global IME Bank Limited has launched a ‘Meri Unilai: Swasthya Nari Pahal’ campaign, an initiative to promote women health.

Issuing a statement on Friday, the bank said that the campaign was launched as per its Corporate Social Responsibility to empower women in the country.

Under the campaign, it organised a women health camp at Sahare Health Post in Gurwakot Municipality in Surkhet district.

Earlier, the bank has launched fixed deposit account scheme under ‘Meri Unilai…’.

“The latest initiative is launched to make women physically strong. Such health camps will be organised in rural and semi-urban areas targeting women and children. We hope that it will make a positive impact on women,” read the statement.

The bank has paid up capital of Rs. 21.63 billion and offers services from 280 branches, 47 extension and revenue counters, 257 branchless banking and 249 ATMs across the country.

Published in The Rising Nepal daily on 21 August 2021. 

High-level mechanism proposed to promote export trade

Kathmandu, Aug. 19

Government and private sector have pledged to create a high-level mechanism to promote and increase export trade.

The mechanism will be represented by the Ministry of Foreign Affairs (MoFA), Ministry of Industry, Commerce and Supplies (MoICS) and Federation of Export Entrepreneurs Nepal (FEEN), the latter informed at a press conference organised on Thursday to inform its interactions with the Nepali missions abroad.

The first initiation in this direction was the multi-party interaction.

Expressing serious concerns over Nepal’s deteriorating export trade in the past couple of decades, FEEN has organised intensive discussions with the Nepali ambassadors and head of missions abroad.

With the aim of promoting Nepal’s export trade and reducing trade deficit, enhancing effective coordination among the public-private stakeholders and making economic diplomacy more result-oriented, the FEEN interacted with 40 heads of missions abroad, representatives of Trade and Export Promotion Centre (TEPC), export-related commodities associations, exporters and FEEN officials.

The programme, organised by the MoFA and coordinated by FEEN, was run for three days from 11 to 13 August.

The diplomats and entrepreneurs had discussed the current status of Nepal’s export trade, major exportable products, strategic plan for the marketing of original products, collective trademarks and role of diplomatic missions in trade promotion and marketing.

Traders said that the programme was an eye-opener in terms of Nepal’s trade promotion and awareness among the entrepreneurs and the diplomats.

“The interaction will help us in correcting our weakness as well. The TEPC and FEEN had offered in-depth presentation on the role of diplomatic missions’ role, plan and future collaborations,” President of FEEN Ram Bahadur Gurung said at a press conference organised on Thursday to inform about the interaction.

Nepali ambassadors have expressed their commitment to accord priority to the promotion of the export of Nepali goods.

Secretary of the MoFA Bharat Raj Poudyal had directed the missions to execute promotion programmes so that the results could be visible within one-and-a-half years.

FEEN said that the interaction and collaboration will help to meet its strategic goal of increasing Nepal’s trade to US$ 3 billion in the next three years and US$7 billion by 2025 from current $1 billion.

Contribution of export trade to the Gross Domestic Product (GDP) dropped down to 3.3 per cent in the last fiscal year 2020/21 from about 13 per cent two decades ago.

Likewise, contribution of industrial sector to the GDP has also decreased to 13.8 per cent from 16 per cent while manufacturing industries’ share has dropped to almost one-third from 15 per cent two decades ago to 5.1 per cent in the last fiscal.

Nepal’s total trade size reached Rs. 1680 billion in the last fiscal of which Rs. 1539 billion was import and only Rs. 141 billion was export.

Published in The Rising Nepal daily on 20 August 2021.  

Eight more Nepalis arrive from Afghanistan

Kathmandu, Aug 19

Additional eight Nepalis have been rescued from Afghanistan. They arrived in Kathmandu on Thursday via Jazeera Airways’ regular Kuwait-Kathmandu flight.

With this the number of total returnee migrants has reached 296, informed the Ministry of Foreign Affairs (MoFA).

Nepali nationals returned from Afghanistan are being managed at the holding centre managed by the COVID-19 Crisis Management Centre (CCMC) after the test for the coronavirus.

Likewise, 300 Nepalis have registered their whereabouts at the web portal of the Department of Consular Services by 5:00 PM on Thursday. Likewise, 42 Nepalis have registered their details with the Situation Room formed in the leadership of Chief of Protocol at the MoFA.

The task force formed to facilitate the rescue of Nepali citizen from Afghanistan has urged the returnees to inform it when they reach their destination safely.

The Ministry has urged the Nepalis in Afghanistan to remain at the same locations until they are rescued and remain in continuous touch with the MoFA, DoCS and Embassy of Nepal in India. The government has also requested the manpower agencies which were involved in sending Nepali workers through the legal channel to support in the rescue process.

Earlier, on Sunday, the government had created an online registration portal at https://nepalconsular.gov.np/ and requested concerned individuals or their families to update information in the portal.

People can contact Department of Consular Services (DCS) at +977-9749326458, MoFA at +9779749326459 and Embassy of Nepal in India at +918929601925 on cell phone Viber and WhatsApp.

 Published in The Rising Nepal daily on 20 August 2021. 

Nepal signs Rs. 7.1 billion agreement to improve higher education

Kathmandu, Aug 19

The Government of Nepal and World Bank signed a US$60 million (Rs. 7.1 billion) financing agreement for the improvement of higher education, on Thursday.

The ‘Nurturing Excellence in Higher Education Program’ will improve the quality of Nepal’s higher education, scale up online learning, and expand access to academic institutions for underprivileged and vulnerable students, they said in a joint statement.

“Investing in human capital is a key priority of the government to help young people in Nepal realise their development potential,” stated Finance Secretary Madhu Kumar Marasini.

“This project supports the government’s focus on recovery from the COVID-19 pandemic by strengthening the higher education sector and ensuring students all across Nepal including those from disadvantaged groups have access to quality education amid the pandemic’s challenges,” he added.

According to the statement, the program builds on Nepal’s successful higher education projects supported through results-based financing.

 It will help the government align its higher education sector with labor market needs, boost collaborative research and entrepreneurship, improve governance, and access to quality higher education, especially for disadvantaged students. The COVID-19 pandemic has created strong incentives to expand online platforms and blended learning, which the program will help scale up across Nepal’s universities, read the statement.

The program will also expand targeted scholarships to help disadvantaged students pursue labor market-driven academic programs and support equity grants to higher education institutions in needy and disaster-affected areas in Nepal.

“An important aspect of Nepal’s recovery efforts from the pandemic is to ensure that quality higher education is accessible, inclusive, and relevant to the demands of the labor market,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka. “This is key to helping Nepal build back better and strengthen its resilience. The World Bank is committed to support Nepal in this effort.”

Marasini and Hadad-Zervos signed the agreement at a programme organised at the Finance Ministry.

 Published in The Rising Nepal daily on 20 August 2021.