FM directs IB to prepare to pay for COVID-19 insurance

Kathmandu, Sept.29

Finance Minister Janardan Sharma has directed the Insurance Board (IB) to initiate preparations to assess the pending payment of the COVID-19 health insurance.

Expressing concerns about the issue, he has started discussions about the pending payment of the insurance.

He had summoned Chairman of the Insurance Board, Surya Prasad Silwal, and other officials of the insurance-sector regulator to discuss the resources required for making the remaining payment and a way out of the current problem.

According to insurance companies, more than Rs. 11 billion is due for the coronavirus insurance.

During the initial days of the pandemic in Nepal, the Board had created an insurance pool with the resources from the insurers, reinsurance companies and the government to support the virus-infected patients. However, the pool soon depleted as the number of patients increased exponentially and resources were used up.

Earlier, in August this year, Nepal Insurers’ Association (NIA) had postponed the COVID-19 insurance claims indefinitely. It had said that the payment was halted as the government did not release the amount.

Non-life insurance companies had sold about 1.75 million COVID-19 policies and collected Rs. 1.5 billion. They have paid claims amounting to Rs. 4.78 billion so far.

In the remaining payment, government’s share will be more than 3.5 million while the Board has to pay more than Rs. 3 billion.

COVID-19 insurance had two categories: A of Rs. 100,000 and B of Rs. 50,000. For A category, individual premium was Rs. 1000 and group or family premium was Rs. 600 each.

Likewise, for B category, individual premium was Rs. 500 and group and family premium was Rs. 300 each.

Published in The Rising Nepal daily on 30 September 2021. 

Nepal seeks UK investment in energy sector

Kathmandu, Sept. 29

The Government has requested private sector investors of the United Kingdom (UK) to invest in green infrastructure in Nepal.

Finance Minister Janardan Sharma urged them to invest in green infrastructure and get benefits as well as support in Nepal’s goal of becoming a high-middle income country by 2030.

Speaking at a virtual discussion programme jointly organised by the Investment Board of Nepal (IBN), Nepali Embassy in London and Department of International Trade of the UK government, he assured British investors of all possible cooperation and facilitation from the Government of Nepal.

“Export of clean and renewable energy from Nepal to the neighbouring countries will also help in cutting down carbon emission in those nations as well,” said Sharma, who is also the Vice Chairman of the IBN, which was established as a fast-track investment promotion body.

Chief Executive Officer of the IBN, Sushil Bhatta, appealed to the British private sector to utilise immense opportunities in the energy sector in Nepal. He also said that the IBN was committed to promoting foreign and green investment in energy sector in the country.

Nepal has the potential of about 50,000 Megawatts of hydroelectricity as well as a high amount of wind and solar energy.

“Nepal has made policy reforms in energy sector to promote investment in renewable and clean energy. It has helped in creating favourable environment for investment,” said Bhata.

Chairman of UK-Nepal Trade and Investment Forum, Lord Sheikh, British Ambassador to Nepal, Nikola Pollitt, and Deputy Head of Mission at the Nepali Embassy in London, Roshan Khanal, said that bilateral relations between the two countries would be further solidified through the cooperation and collaboration between the private sectors.

The programme was organised to enhance cooperation between the private sector investors in Nepal and the UK in energy sector to reduce carbon emission as per the Paris Agreement and create a sustainable economy, and promote investment in green and renewable energy.

According to the IBN, it was organised as a preparatory event for the 2021 UN Climate Change Conference which is slated for November 1-12 in Glasgow,  Scotland.

Published in The Rising Nepal daily on 30 September 2021. 

KOICA organises integrated planning workshop

Kathmandu, Sept. 29

Korean Institute for Development Strategy (KDS) and Yonsei Global Health Center (YGHC) have organised an ‘Integrated Planning Capacity Building’ workshop in Kathmandu for ‘empowering rural communities in Nepal through an integrated approach to health and income growth’ project.

The workshop was organised on September 27 and 28, said Korea International Cooperation Agency (KOICA) in a statement on Wednesday.

The workshop aimed to establish a strategic and integrated plan for health and income growth components of the project which will be a steppingstone for the master plans for three project sites in Manekharka in Sindupalchowk, Salambu in Kavrepalanchowk and Puttar in Tanahun.

The workshop was participated by the Project Steering Committee (PSC) member for the Project including Ministry of Agriculture and Livestock Development, representatives from project area provinces, District Coordination Committee, Kathmandu University and Dhulikhel Hospital.

On the first day, 17 participants have explored the successful cases of community development programs on health and income growth presented by Good Neighbors International Nepal and Beautiful Coffee Nepal.

Likewise, on the second day, strategic and integrated plans for the Project were developed and presented. The workshop will be further extended to three project site workshops where detailed action plans will be developed based on the result.

Korea International Cooperation Agency (KOICA) has been supporting the project from 2020 till 2025 with the total budget of US$ 4.7 million.

The project is committed to improving the living standard of community people through enhanced access to outreach centers, participatory health and rural development programs, and income generation opportunities, said KOICA.

Korea has been supporting Nepal through KOICA in various areas of health, education, Information Technology and rural development since 1991.

Published in The Rising Nepal daily on 30 September 2021. 

Gupta receives professional doctoral certificate

Kathmandu, Sept 29

President of Association of Nepalese Rice, Oil and Pulses Industry (ANROPI), Subodh Kumar Gupta is honoured with the Professional Doctoral Certificate in Global Leadership and Management by the European International University, Paris.

He was awarded with the honour at a programme organised by the university in Dubai on Tuesday.

Issuing a statement on Wednesday, ANROPI said that the award to Gupta has increased the reputation of Nepali private sector at international level.

Gupta is also President of Birgunj Chamber of Commerce and Industry (BCCI) and Working Committee Member of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

FNCCI and BCCI also published separate statement and said that he was awarded for his contribution to institutional and economic development.

Published in The Rising Nepal daily on 3 September 2021. 

ISPs’ refusal to share infrastructure makes internet costly

Kathmandu, Sept. 28

 The electricity pole rent row between the Nepal Electricity Authority (NEA) and Internet Service Providers (ISPs) shows no sign of being resolved easily.

While the NEA claims that it has offered the infrastructure on rent for the lowest possible rate which was not reviewed for years, ISPs say that the increased rental charges for the use of the electricity poles to extend fibre optic cable would shoot up the internet cost.

Computer Association of Nepal (CAN) Federation and ISPAN had already submitted recommendations to the government about keeping the internet cost at the lowest possible, they blamed that NEA created a situation where ISPs are forced to increase the internet charges by Rs. 150 to Rs. 300 a month with rural areas to witness the higher rises in the monthly rates.

They claimed that people were using internet at a reasonable cost despite high tax imposed on the service only because of the decision of the NEA to provide its utility poles and Optical Ground Wire (OPGW) at a lower cost.

Through a new regulation, NEA has proposed to double the charges on fibre cables stretched along the 66kv transmission lines, making it Rs. 32,000 a year without taxes. For fibre optics on 33kv transmission lines, charges will reach Rs. 30,000.

Likewise, the government-run electricity monopoly has proposed to increase the rental charge for the utility poles to Rs. 200 per annum from Rs. 50 in the rural areas and Rs. 300 from Rs. 200 in city areas.

Earlier, NEA had revised the utility charges in 2018. It had again planned to hike the utility pole charges in 2019 but deferred from the decision after widespread criticism.

Deadline on Friday

The recent squabble between the power utility and private sector service providers erupted after the NEA issued a notice about the proposed new rates for the poles. It has set October 1, Friday as the deadline to pay the rental charges as per the increased rates.

"NEA has already published the notice thrice asking us to pay the charges as per the new rates, failing which it has threatened to cut and remove the internet wires from its utility poles," President of ISPAN, Sudhir Parajuli, said at a programme organised by Terai Development and Communication Centre on Tuesday.

He said that should the nation aim at bringing the cost of internet down, it must pay attention to their demands. "NEA would be responsible for any untoward incident and internet obstructions caused by cutting of wires and not listening to our demands," he warned.

Beauty is the concern

Responding to the demands of the ISPs and Information and Communication Technology entrepreneurs, Managing Director of the NEA, Kul Man Ghishing said that the charges were increased to maintain the beauty of the city.

"NEA wants to promote the sharing of the IT infrastructure so that there would be fewer cables and bigger business. Why don't the ISPs use 96 core cables instead of 24 core cables to facilitate higher bandwidth? The 96 core cables can be shared by multiple companies," he said.

Ghishing blamed that every ISP wants to pull its own cables along each pole which had given an ugly look to the city.

According to NEA estimates, about 90 per cent internet cables hanging from the electricity poles are useless. When damaged, the ISPs do not remove the cables and instead stretch a new one to resume the service which has resulted in a mess of entangled cables. Poles are bearing a huge burden due to this practice of the ISPs.

NEA ready to cooperate

The power utility raises Rs. 250 million to Rs. 300 million a year from the charges of utility poles and OPGW cables. Ghishing claimed that if the ISPs share the cable and other infrastructure, the internet charges will go even lower. "NEA is ready to cooperate and collaborate with the private sector service providers. To clean up the entangled wires, we have created an underground optical fibre infrastructure to transmit internet signals," said Ghishing. The NEA has also created additional two under-ground channels to lay fibre optics if necessary in the future.

Increased rate will raise NEA revenue to around Rs. 500 million. The ICT sector's annual income including the telecommunication companies is about Rs. 150 billion which is collected from individual households. NEA collects about Rs. 70 billion revenue of which Rs. 30 billion comes from the domestic consumers – 90 per cent of the population.

Director of the Nepal Telecommunication Authority (NTA), Min Prasad Aryal, said that the telecom sector regulator had tried to resolve the issue. "Internet is an essential service and must not be disrupted," he said while calling for the facilitation to the ISPs.

Published in The Rising Nepal daily on 29 September 2021. 

Spinal Injury Group thanks FM Sharma for allowance

Kathmandu, Sept 26

Spinal Injury Group on Sunday thanked Finance Minister Janardan Sharma ‘Pravakar’ for the monthly allowance to the people affected by the chronic disease announced through the replacement bill.

They called on the Minister at his office at the Singhadurbar.

FM Sharma said that the allowance was announced with the sense of responsibility as the state is the guardian of all citizens.

He also assured to create a working procedure with the concerned bodies and groups within a few days and implement it immediately.

"From today, we have started discussions on formulating working procedures on the issues as included in the budget," he said and maintained that no one would be able to cut this facility in the coming days.

According to Rishi Dhakal, Chairman of the group, there are about 5,000 people with spinal cord injuries in Nepal at present. Stating that there is a tendency for them to be mentally deranged after being injured and to be looked down upon in the society, Dhakal said that the monthly allowance would help in the rehabilitation of the injured.

"The allowance works to strengthen the mentally challenged as a burden on society and the family after the injury," he said.

Stating that their apprehensions in favor of implementation have been allayed after the meeting, Dhakal said that they were happy and satisfied with the assurance for the implementation of the new provision by the FM.

Keshav Thapa, General Secretary of the group, said that a person with spinal cord injury will have to pay different amount for regular treatment depending on the condition. According to him, a recent study among 450 people found that monthly expenses of 55 per cent was Rs. 5,000 to Rs. 8,000 while 45 per cent were managing in less than Rs. 5,000.

Patients with spinal injuries need regular bowel bladder, CYC pipe, urine bag and other materials according to their condition.

Published in The Rising Nepal daily on 27 September 2021. 

Medical supplies arriver from Singapore

Kathmandu, Sept 26

A batch of medical supplies sent by Singapore government arrived Kathmandu on Sunday afternoon.

The support includes gowns, aprons, masks, respirators, test kits, PCR machines and thermometers.

The Ministry of the Foreign Affairs (MoFA) said in a statement that the Government of Nepal appreciated Singapore for its support and solidarity in the fight against the COVID-19 pandemic.

Kul Acharya vies for NRNA President

Kathmandu, Sept 26

Advisor and former Vice President of the Non-Resident Nepali Association (NRNA) Kul Acharya has announced his candidacy for the president of the organisation’s International Coordination Committee (ICC).

He entered into the election fray with the announcement of his candidacy on Sunday at a programme organised in the Capital where he also announced his 7-point programme.

The NRNA international conference is slated for October 13-15 in Kathmandu where NRNs from across the globe will participate in the election through an online voting system for the first time in the organisation’s history.

Speaking at the candidacy announcement programme, Acharya said that he had a campaign to make the NRNA a common organisation of NRNs in true sense and he would like to complete this initiative by creating an opportunity for all.

“Right to the ancestral property is my agenda. The registered members of the NRNA will be increased to 500,000 and National Coordination Committees will be increased to 100,” he said. Currently, registered members are 100,000 and NCCs are 84.

He has also announced a plan to accredit Nepali people in other countries like Thailand and Myanmar as ‘People of Nepali Origin (PNO)’.

 A Nepali from Dhairing of Parbat district, Acharya currently lives in London.

He said that he would give priority to the strengthening of the organisation and promote transparency. “I will give special attention to the safety and security of Nepali migrant workers in the Middle East and Malaysia,” he said.

His plans also include running Nepali tourism promotion campaign across the globe, establishing NRNA Sports Council, helping Nepal to attract Foreign Direct Investment, and giving priority to youth and women in the organisation.

Earlier on Thursday, incumbent Vice-President of the NRNA, Rabina Thapa had announced the candidacy for the post of the president. Likewise, Jaya Prakash Gurung and Binaya Adhikari also announced their candidacy for the posts of vice president and general secretary.

Established 18 years ago, the NRNA is a non-government global organisation and network of people of Nepali origin in 82 countries.

The government of Nepal has given legal status to Nepali diaspora with the promulgation of Non-Resident Nepali Act, 2007. Nepali citizens living outside the South Asian Association for Regional Cooperation (SAARC) member countries or people of Nepali origin holding foreign nationality other than SAARC nations are considered as NRNs.

Published in The Rising Nepal daily on 27 September 2021. 

NRB studying possibility to replace fiat currency

Kathmandu, Sept 24

Nepal Rastra Bank (NRB) has started studying the possibility of using Central Bank Digital Currency to replace existing fiat currency, said Deputy Governor Bam Bahadur Mishra.

"We are also studying opportunities and challenges of using services related to cloud technology. We will continue to study, explore and adopt digital innovations at the NRB and will encourage and facilitate financial system to adopt it," he said while addressing a seminar on 'Knowledge exchange on digital transformation', organised by the Computer Association of Nepal (CAN) Federation on Friday.

According to him, although payment is a major facet of digital finance, other services should be taken care of as well.

"Customers should be able to open bank accounts without being present in the bank or apply for the loan digitally. Shared platform can be developed to share customer information among different service providers with strong data protection framework so that customers don’t need to present same documents time and again to avail similar services," Mishra said.

He maintained that artificial intelligence could be used to provide information about different products or services with minimal human interference and to protect financial industry from being used as a gateway for money laundering.

Similarly, cloud computing can be used to increase the flexibility and cost effectiveness of service providers, stated Mishra.

He said that digital transformation and its success are built on the trust and suggested that technology should be tailored to the need of the users and security of transactions should be taken care of.

"Some of the key reforms include making apps available in vernacular languages, informing customers about success and failure of the transactions immediately and robust dispute handling mechanism so that people will trust service provider when they find no one is in front of them physically to listen to them," he said.

According to him, digital transformation has increased the efficiency and service delivery both in private and public sector, thus boosting transparency and trust in the system.

"As financial services are prime target of attackers, safeguarding trust in the financial system is now particularly important. To protect our system, we need to adopt new cyber security techniques and it needs to be rectified continuously," he said.

President of CAN Federation, Nawa Raj Kunwar, said that in the age of Information and Communication technology, digital transformation is about technology, data, process, and organizational change. He added that to reap the benefits of the digital reality, the digital transformation should be adapted in business strategy.

He also suggested that Nepal overcome barrier such as digital divide, digital infrastructures to get the digital transformation policies and framework in right direction.

According to him, the programme was organised for the exchange of knowledge of best practices in digital transformation internationally and discuss about shaping future of digital economies in the region, and expanding business opportunities.

The conference was attended by the delegates from the Asia Pacific region and participation was made from diverse sectors, business, technical, and policy-making bodies as government and non-government agencies, telecom operators, bankers and academicians. The programme was organised in a hybrid mode.

 Published in The Rising Nepal daily on 25 September 2021. 

Rabina vies for the NRNA President

Kathmandu, Sept. 23

Incumbent Vice-President of the Non-Resident Nepali Association (NRNA) Rabina Thapa has announced her candidacy for the President of the organisation's International Coordination Committee.

She has opened the season for candidacy announcement along with the aspirants for the post of Vice-President and General Secretary of the NRNA.

Thapa's team includes Jaya Prakash Gurung and Binaya Adhikary, candidates for the posts of VP and GS respectively.

They announced their candidacy at a programme organised in the Capital on Thursday and published their election agenda.

The NRNA international conference is slated for October 13-15 in Kathmandu.

Thapa said that her main agenda was to give priority to the citizenship issue to implement the theme 'Once a Nepali, always a Nepali'.

"In absence of citizenship, many NRNs are losing their parental properties back in Nepal. Therefore, I have given priority to this issue," she said.

Likewise, she stated that she would initiate a process to make the NRNA election a direct one. "To ensure the voting rights of Nepalis in foreign land in the elections in their home country and resolve the issues in foreign employment, you should elect me to the leadership," she said to the NRNs.

Thapa currently resides in Maryland in the United States of America.

VP candidate Gurung said that his agenda was to establish the rights of the ex-Gorkha Army who had served the United Kingdom. "There is a kind of syndicate in the NRNA and I have decided to announce my candidacy to break it," he said.

Similarly, GS candidate Adhikary’s agenda included implementing direct election system in the NRNA, promoting investment in Nepal, removing the hurdles in inheriting the parental properties in Nepal and forming an expert committee to expand the lobbying capacity of the NRNA.

Established 18 years ago, the NRNA is a non-government global organisation and network of people of Nepali origin in 82 countries.

The government of Nepal has given legal status to Nepali diaspora with the promulgation of Non-Resident Nepali Act, 2007. Nepali citizens living outside the South Asian Association for Regional Cooperation (SAARC) member countries or people of Nepali origin holding foreign nationality other than SAARC nations are considered as NRNs.

Recently, NRNA has established a development fund worth Rs. 10 billion to support in Nepal's development. It has supported rebuilding the Laprak settlement which was devastated by the 2015 Earthquake.

 Published in The Rising Nepal daily on 24 September 2021. 

President authenticates budget bills

 Kathmandu, Sept 23

President Bidya Devi Bhandari has authenticated the Appropriation Bill, 2021 on Thursday, following its ratification from both the Houses of the Federal Parliament.

She has approved the bill as per the Article 113(2) of the Constitution, said the Office of the President in a statement on Thursday.

The House of Representatives and National Assembly ratified the budget bill on Thursday afternoon. The HoR also passed the Bill to Raise Public Debt as well.

It has opened the ways for the government to spend the budget and raise debt to fund the development projects.

Commission seeking tendency distracted investors: FM Sharma

 Kathmandu, Sept. 21

Minister for Finance Janardan Sharma ‘Pravakar’ has said that Nepal has failed in attracting the much needed Foreign Direct Investment (FDI) because of the commission-seeking tendency.

“Instead of attracting investors with facilitation in every step and offering fast-track services, we turn our faces to other direction, involve in brokerage of the projects for our own benefits and seek commission in every project,” he said while addressing seminar on ‘Capital expenditure and FDI in Nepal’ organised by the Central Department of Economics (CEDECON) of the Tribhuvan University on Tuesday.

He stated that the leaders, bureaucrats and business community people must shed off individual interests while there is a chance of serving the nation and fulfilling the national interest.

“We have become self-centred and selfish and given more priority to our individual interests which pushed the national interest to the back,” said FM Sharma.

According to him, lack of proper coordination among the government ministries and projects is negatively impacting the implementation of infrastructure and development project and mobilisation of capital budget.

Ministry of Finance feels shy in transferring the rights to the line ministries while the latters don’t give enough rights to the project chiefs instead want to control him from the centre which has resulted in delayed progress in development work.

Assuring the investors better service, facilitation and environment, FM Sharma said that the country was in a dire need of expanding industrial set ups and  business activities to utilise about 400 Megawatt electricity that is being wasted since the beginning of the rainy season this year.

“Capital budget mobilisation is very poor. If we can’t improve it, it will adversely impact capital formation and overall development of the country,” he said. “We don’t have an integrated development strategy. Priority of development and planning is changed every time a ministry gets a new leadership,” he said.

The Finance Minister also blamed the low bidding for the poor progress of the development projects. “We must change the system to award the contract to the contractors who bid a project at 40-60 per cent of the total estimated cost,” he maintained.

He said that the government would adopt a policy to spend 10 per cent of the capital budget every month.

Former Vice Chairman of the National Planning Commission (NPC) Prof. Dr. Puspa Raj Kadel said that the reform for capital expenditure should begin from the Prime Minister and ministers. According to him, most of the leaders’ concern after assuming the high post is to provide some projects to their henchmen.

He said that there was a critical situation in the country as the resources for development are mobilised to the sub-national governments while the projects are coming back to the federal government.

Associate Professor at the CEDECON, Dr. Ramesh C. Paudel said increasing trend of current expenditure and decreasing trend of capital expenditure has become a serious issue in Nepal for more than two decades now.

According to a paper he presented at the seminar, capital expenditure in Nepal has dropped to 19 per cent of the total expenditure in 2017/18 from 68 per cent in 1990/91.

He recommended making regular expenditures with strong monthly or fortnightly evaluation system. “One structured body like NPC can be established to implement the programmes and policy more effectively,” he said.

 Published in The Rising Nepal daily on 22 September 2021.

NRA completes handover of remaining reconstruction projects

 Kathmandu, Sept. 21

The National Reconstruction Authority (NRA) has completed handing over the remaining post-quake rebuilding work to other concerned government authorities. On Monday, it formally handed over the remaining task in the culture and tourism sector to the Ministry of Culture, Tourism and Civil Aviation (MoCTCA).

It had begun the transfer of the remaining task to the concerned agencies from last week.

Remaining work of private house and settlement development, and heritage and monasteries rebuilding is handed over to the Department of Urban Development and Building Construction (DUDBC), an agency under the Ministry of Urban Development.

The programmes including financial and technical management are now the responsibilities of the DUDBC.

Rebuilding of educational institutions is transferred to the Ministry of Education, Science and Technology and the ministry has in turn handed over the programmes to the district offices.

Likewise, incomplete roads and bridges, as well as the reconstruction of the monasteries less than 100 years old are handed over to the Department of Local Infrastructure Development.

An NRA Steering Committee meeting on 25 August had decided to hand over the remaining tasks to the concerned agencies.

Likewise, the reconstruction body had asked the remaining beneficiaries to get the house reconstruction grant by mid-December this year. It had extended the deadline for many times in the past as well.

Deputy Spokesperson of the NRA Manohar Ghimire said that the NRA will now focus on the remaining construction of Dharhara, Singha Durbar, Ranoddip Palace at the Narayanhiti Palace Museum and Ranipokhari.  It will facilitate and coordinate in the remaining rebuilding work, and monitor the progress at the central level. However, decision about the heritages like Tri-Chandra College building in Jamal and Nepal Sanskrit University’s building in Basantapur is yet to be made.

All the information and knowledge system will be handed over to the National Disaster Risk Reduction and Management Authority.

To share the lessons learnt during the reconstruction drive in the past six years, the NRA will organise an international conference on Nepal’s reconstruction on 7-9 December, 2021.

“To institutionalise the knowledge produced during the reconstruction process, documentation work is ongoing. We are trying our best to preserve the learning and experiences,” said Ghimire.

The devastating earthquake in April 2015 had killed about 9,000 people, and damaged 866,087 houses, as per the updated statistics of the NRA.

The NRA had signed house reconstruction grant agreement with 827,340 households while first installment of the grant was distributed to 827,478 families.

Of them, 741,031 families have received the second installment and 694,565 families the third installment. Reconstruction of about 615,924 houses is completed. 

Published in The Rising Nepal daily on 22 September 2021.

E-Sewa launches Dashain campaign

Kathmandu, Sept. 21

E-Sewa Money Transfer has announced 'Chad parvako bahar, dindinai upahar' campaign that enables consumers to win prizes every day.

As per the scheme, people sending money from E-Sewa Money Transfer can win a mixer each day, refrigerator each week, smart TV each month and a Dio scooter as a bumper prize at the end of the two-month campaign.

Nepali migrant workers in more than 200 countries across the globe can send money to their home via E-Sewa, said the company in a statement on Tuesday.

It has more than 8,000 agents in the country and people sending money from these outlets can also participate in the scheme.

The company said that 60 people will have the chance to get mixers, eight people refrigerators and two people can win smart TVs.

The campaign was launched on September 18 and will run till November18.

E-Sewa is bringing in remittance through traditional style, E-Sewa wallet and bank accounts.

Published in The Rising Nepal daily on 22 September 2021.

CAN Federation argues NEA move may result in higher cost of Internet

Kathmandu, Sept. 21

The Computer Association of Nepal (CAN) Federation has said that it was sad to observe the price of Internet going up due to the activities of the Nepal Electricity Authority (NEA).

Stating that its attention was drawn to the efforts of the private sector Internet service providers recently, CAN Federation said that although it and Internet Service Providers Association of Nepal (ISPAN) had submitted recommendations to the government regarding the policy, programmes and budget, NEA had created a situation where the companies are forced to increase the Internet charges.

 ISPs are set to raise the Internet cost by Rs. 150 to Rs. 300 a month.

"People had been using Internet at a reasonable cost despite high tax imposed on the service because of the decision of the NEA to provide its electricity poles and Optical Ground Wire (OPGW) at a lower cost," read the statement. It has enabled 93 per cent users of the broadband Internet service of the private sector companies at the current prices.

CAN Federation also said that the business that enabled people to obtain health facilities and education and purchase goods and make payment online should be dealt with special preference.

It has urged the government to implement the previous rent of the electricity poles and OPGW as decided by a meeting of the CAN Federation, Minister of Energy and NEA last year.

NEA has said it would charge for the pole and OPGW rent on per kilometer basis. Likewise, it has confiscated Internet equipment in Bharatpur and obstructed repair work, said the CAN Federation.

Published in The Rising Nepal daily on 22 September 2021. 

Shivam Cement sponsors Kathmandu Kings XI

Kathmandu, Sept 17

Shivam Cement has become the main sponsor of the Kathmandu Kings XI (KKXI) for the upcoming season of Everest Premier League (EPL).

The company signed a Memorandum of Understanding (MoU) with the team for the same on.

EPL's this year competitions will be held from September 25 – October 9 at the Tribhuvan University ground in kiritipur.

Shivam Cement has collaborated with Kathmandu Kings XI as the Strength Partner for the tournament, said the company in a statement on Thursday.

Besides the collaboration with the team, the company will also be associated with the broadcast of the EPL in Nepal as Strength Partner during the tournament period.

Altogether 6 teams are playing for the coveted title in the league.

Led under the captaincy of iconic bowler Sandeep Lammichanne, international players like Shahid Afridi and Janak Prakash, national star players like Gulshan Jha, Subash Khakurel, Siddhant Lohani and other star players shall be playing from KKXI side during the tournament.

Published in The Rising Nepal daily. 

Xiaomi Nepal launches Redmi 10 Prime

Kathmandu, Sept 19

Xiaomi has unveiled Redmi 10 Prime, its first smartphone with 50MP camera and Redmi Earbuds 3 Pro in Nepal.

The new phone marks the debut of MediaTek Helio G88 chipset and comes with an impressive 90Hz 6.5” FHD+ AdaptiveSync display.

It is coupled with a powerful 6,000mAh two-day battery in a very slim form factor. The device comes with a memory extension feature that allows users to temporarily borrow RAM up to 2GB from their smartphone storage, thereby facilitating smooth functioning and enhanced performance.

“Designed to push boundaries of power and creativity, the device delivers a top-notch experience for content creators, streaming enthusiasts, students, and mobile gamers,” the company said in a statement on Sunday.

Sourabh Kothari, Country General Manager, Xiaomi Nepal said, “With the launch of Redmi 10 Prime, we are bringing an all-around superstar, with an experience that users associate with the Redmi Note series to the Redmi series, with improvements across camera, high-resolution display, high performance, and power-packed battery life.”

Redmi 10 Prime will be available in two variants: 4GB + 64GB (RAM expandable by 1GB) at RS 20,999 and 6GB + 128GB (RAM expandable by 2GB) at Rs. 23,999.

Published in The Rising Nepal daily on 20 September 2021. 

Western Union launches ‘Cashsutsabh’ campaign

Kathmandu, Sept 19

On the occasion of the upcoming Dashain and Tihar festivals, Western Union, a cross-border, cross-currency money movement and paymentscompany, has launched ‘Cashsutsabh’ campaign.

The campaign offers customers in Nepal a chance to win cash prizes in a weekly draw between September 17, 2021, and November 11, 2021, or enter the Bumper Lucky Draw at the end of the promotion period.

To qualify for the promotion, customers in Nepal are required to receive money through any agent of Western Union during the promotion period which includes Annapurna Travel, CG Finco, Hulas Remittance, Maya Remit, Nabil Bank, Surya Remit and Digitek Remittance.

All qualifying transactions will be automatically entered into a weekly draw. Every week, five lucky customers will receive Rs. 20,000 each until November 11, 2021.

Additionally, all qualifying transactions during the promotion period will be automatically entered into the Bumper Lucky Draw.

 One lucky customer will have a chance to win Rs. 500,000. The winner of the Bumper Lucky Draw will be announced on November 22, 2021.

Published in The Rising Nepal daily on 20 September 2021. 

Mutual funds market portfolio reaches Rs. 29.7 billion

Kathmandu, Sept 18

Executive Director of the Securities Board of Nepal (SEBON) Niraj Giri said that there has been a paradigm shift in mutual funds (MF) market as the number and size of funds as well as individual investors has gone up significantly.

"Although the size of mutual fund is very small, and it is still in the starting phase, this is satisfactory with Rs. 29.7 billion portfolio," he said while speaking at a programme on 'understanding of mutual funds' organised by Nepalese Association of Financial Journalists (NAFIJ) in cooperation with Merchant Bankers Association of Nepal (MBAN) on Friday.

This development was achieved with a strong collaboration among the stakeholders of the market, including media, he maintained.

However, according to him, Nepali mutual funds market would take some time to attain development and sophistication on par with India and Pakistan. "Investors should be educated about the prospects of the mutual funds as a long-term investment sector," he said.

He also maintained that criticism of mutual fund for not buying shares while the market has gone down is not appropriate since mutual funds mobilise the money from many small investors so they need to be more cautious while buying shares.

President of MBAN Mekh Bahadur Thapa said that mutual fund market in the country has a high potential to grow and the future would be of the open ended mutual funds.

Currently, 26 close ended and 4 open ended mutual funds are in operation in Nepal and 24 are listed in the share market (Nepal Stock Exchange Limited).

Size of close ended mutual fund is Rs. 27.8 billion and that of open ended is Rs. 1.9 billion. Five MFs worth Rs. 3.5 billion are matured.

AGM of NIBL Ace Capital Limited Sachindra Dhungana, said that nine MFs - two open ended and seven close ended - are in pipeline.

Presenting a paper in the programme, he said that mutual funds have opportunities to invest in securities registered in SEBON, securities available for public offering, securities listed in the stock exchange, money market instruments, government bonds, T-bills, debentures and other securities issued by the government, bank deposits and other areas suggested by the SEBON.

"MFs provide benefits like tax, liquidity, simple and easy investment, economies of scale and transparency. Since they are professionally managed and well regulated, small investors can invest their money in them," said Dhungana.

General Secretary of MBAN Paras Mani Dhakal suggested diversifying investment portfolio and managing the risks in the stock market for which the MFs are the best instruments.

He urged the media to impart right information to the investors because share market is a risky market.

Published in The Rising Nepal daily on 19 September 2021. 

Prez congratulates countrymen on Constitution Day

Kathmandu, Sept. 18

President Bidya Devi Bhandari has congratulated all Nepali citizens in and out of the country on the occasion of 7^th Constitution Day, which is being celebrated on Sunday.

The Constitution Day is observed on Asoj 3 of Nepali calendar every year since 2015.

“We remember the day for the promulgation of the constitution as the result of sacrificial struggle of Nepali people. I would like to pay tribute to all martyrs who laid their lives for the establishment of democracy in the country,” she said in a statement.

President Bhandari said that the current constitution has guided the Nepali society to a greater unity by ending lingual, ethnic, religious, cultural, geographical and all other discriminations and oppressions created by the feudal, autocratic and unitary state system.

According to her, the acceptance of the constitution has contributed to the political stability and peace in the country. With this, the phase of struggle to secure political rights of people is completed and we need to focus all our efforts for the economic prosperity of the country.

“Nepal’s constitution has aimed to create a socialism-oriented economy and envisioned an equitable society. To achieve these targets, available natural resources like water, land and jungle should be utilised sustainably and production should be enhanced through entrepreneurship development,” President Bhandari said.

She also suggested creating a self-reliant economy with import substitution through made in Nepal products and modernisation of agriculture.

Likewise, she maintained that all citizens should have equal access to the services and facilities of the state and the government should guarantee social security for its citizens.

Meanwhile, President Bhandari also extended greetings to Nepali people on the occasion of Kumari and Indrajatra Festival 2078.

God of rain and abundance Indra is worshipped on the occasion while Chariots of live Goddess Kumari, and gods Ganesh and Bhairav are pulled through the alleys of the core city in Kathmandu to observe the festival.

President Bhandari said that the festival is observed to express gratitude to God Indra for the good harvest with good rain, so it exhibits inherent relationship between the nature and human beings.

She also hoped that these festivals would enhance mutual confidence, harmony, tolerance and cooperation among various ethnicities, cultures and geography in the country.

President Bhandari urged one and all to celebrate the festivals while observing the health and safety protocols to stay safe from COVID-19.

Published in The Rising Nepal daily on 19 September 2021. 

Constitution upholds people’s rights: PM

Kathmandu, Sept. 18

Prime Minister Sher Bahadur Deuba said that the Constitution of Nepal has ensured the rights of all by embracing global norms of democracy and human rights.

In a message issued on the occasion of the Constitution Day, he maintained that the Constitution issued by the Constituent Assembly on Asoj 3 of Nepali calendar seven years ago under the leadership of the Nepali Congress was an important achievement of a long struggle for democracy.

Paying homage to the martyrs who laid their lives for the revolutionary changes in the country and remembering those who underwent physical, economic, psychological and other losses in the process, PM Deuba stated that the country was successfully ushered to the federal structure under the leadership of the NC with the support from all other political parties and citizens in the country.

On the occasion, PM Deuba reiterated that the government’s main aim was to completely vaccinate all Nepali citizens against the COVID-19 by the end of Nepali year 2079, which falls in mid-April 2022.

“I urged one and all to face the pandemic with adequate caution and strong confidence,” he said.

He stated that the need of the time was to lead the country on the path of economic development by strengthening the democratic republic governance system.

According to PM Deuba, the government was putting in its efforts to implement the constitution in a way that lets people experience change.

Published in The Rising Nepal daily on 18 September 2021. 

GIBL to extend concessional loan to returnee migrants, families

Kathmandu, Sept 17

Global IME Bank Limited and Nepal Institute for Development Studies (NIDS) have signed a memorandum of understanding (MoU) to provide concessional loans and financial literacy and entrepreneurship training to the individuals of target community and areas.

As per the MoU, signed on Friday, GIBL will provide concessional loan to returnee migrant workers, families dependent on migrant workers, youth rescued from human trafficking and other relevant persons on the recommendations of the NIDS.

Chief Executive Officer of the bank Ratna Raj Bajracharya and Executive Director of the NIDS Chiranjivi Baral have signed the MoU.

GIBL has 280 branches in 76 district, 250 ATMs, 257 branchless banking service, 47 extension and revenue collection counters and three representative offices in foreign countries.

It is also contributing to the remittance from the countries like the United States of America, United Kingdom, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, United Arab Emirates, Bahrain, India, Jordan and Hong Kong.

Published in The Rising Nepal daily on 18 September 2021. 

Mali unanimously elected GIA president

Kathmandu, Sept 17

Kush Prasad Malli has been unanimously elected to the president of Nepal LP Gas Industry Association. He has served as the senior vice chairman of the association in the last working committee.

The organisation went to the polls to choose its president as former president Sawarmal Agrawal and industrialist Bijaya Hari Sharma also announced their candidacy for the post. However, in an effort to elect unanimous leadership, both of them stepped back for Malli.

According to a statement issued by the association the other day, a committee including incumbent President Gokul Bhandari, Immediate Past President Shiva Prasad Ghimire, Rajendra Dallakoti, Jit Bahadur Karki and Rajendra Kabra was formed to initiate the consensus election.

Dallakoti has been elevated to the post of special member while Shankar Shrestha to the senior vice president.

Likewise, Diwan Chand and Manoj Kumar Das have been elected to the post of vice presidents, Krishna Bhakta Shrestha to general secretay, Dharma Raj Bartaula to treasurer and Ashish Jajodiya to secretary.

Similarly, elected members are: Lokharsha Shakya, Baburam Pokhrel, Sunil Sinha, Manoj Budhathoki, Achyut Nepal, Yuwak Rajbhandari, Sudip Ghimire and Rajkumar Sindhi.

Published in The Rising Nepal daily on 18 September 2021. 

Census 2021 begins five months later than schedule

Kathmandu, Sept. 16

The Central Bureau of Statistics (CBS) is aiming to complete the main survey for data collection work for the Census 2021 by 25 November this year.

The statistical body under the National Planning Commission (NPC) had begun the preparations for the census since July 2019 and was planning to conduct household listing from 9 to 28 May 2021 and questionnaire fill up from 8 to 22 June but the second phase of coronavirus pandemic and lockdown affected the plan and it was re-announced for before and after the great festival season in the country.

All activities of the census were suspended by the government through a Cabinet decision on 2 May, 2021.

According to a new schedule, data collection for the 12^th census will begin on 11 November, a day after Chhath Festival and four-day after Bhai Tika, the second largest festival in Nepal, and will continue for 15 days, said Dr. Hem Raj Regmi, Deputy Director General of CBS. About 40,000 enumerators would spread across the country to visit every single household in order to make the exact record of population.

Likewise, the household listing started on Wednesday, 15 September and will run for 20 days till 4 October. CBS has mobilised 8,500 supervisors to collect the details of about 7 million families residing in all residential and community buildings across the country, said Dr. Regmi.

They will collect the number of members in the family, use of the house, agricultural land and livestock, government grants received, bank accounts, technical education, and access to loan in the bank and financial institutions (BFIs).

Surveyors will collect the data of the members in the family including their gender and sexual minorities. Likewise, the use of house data will give statistics about the number of buildings used for residence, trade and business, government office, educational institution, health facilities, industry and factories, BFIs, hotels and lodges, sheds and empty buildings.

Enumerators will visit the households listed by the supervisors in the second phase.

They will fill up the main questionnaire and collect details of the family, individual's birth, death, migration and other demographic details. Basic resources of the ward, capacity, infrastructure and disaster related information would be collected in the second phase.

CBS said that the census helps in formulating plans from federal to local level, execute them and organize monitoring activities.

As per earlier information given by the CBS, the census will cost about Rs. 4 billion. It will take about nine months to publish final results but preliminary results will be announced within four to five months.

Published in The Rising Nepal daily on 17 September 2021. 

Govt flexible to get budget ordinance endorsed

 Country falls into first-ever budget holiday

 

Kathmandu, Sept. 15

Finance Minister Janardan Sharma ‘Pravakar’ said that the government has opened all alternatives to pass the budget ordinance for the current fiscal year 2021/22.

“We are putting all our efforts to pass the proposed budget bill from the parliament so that economic activities could move ahead smoothly,” he said to The Rising Nepal on Wednesday evening.

As September 15, Wednesday, marks the 60^th day since the introduction of the budget ordinance, and it is not ratified by the parliament, the country will fall into budget holiday for the first time in its history from Thursday.

The country has 70 years of history of budget preparation since the first Finance Minister of the democratic system, Subarna Shumsher Rana, presented the first-ever budget in 1951.

Meanwhile, there are minimal chances of the ratification of the Replacement Bill announced by the present government to accommodate its programmes as the House session is deferred until September 20.

Until the ordinance and bill are ratified by the parliament, the government can’t use the money from the state coffers.

According to FM Sharma, some minor changes were made in the budget of this year in order to address the decision of the court and demands of the peoples’ representatives.

The Supreme Court in July had issued a verdict that the announcement of the budget of the FY 2021/22 budget through an ordinance by the outgoing KP Sharma Oli government was inappropriate and against the representative governance system.

“The government has presented the replacement bill just to fulfill the procedure pointed out by the circumstances but there were obstructions in ratifying it from the House. However, there are efforts to forge a consensus among the party on the budget,” said FM Sharma.

However, he said that the country wouldn’t be much affected by the ‘budget holiday’ since the provincial and local government will continue to mobilise their budgets at their respective levels.

At the same time, there wouldn’t be any impact on revenue collection which means the income of the government wouldn’t be hampered and accumulated income could be mobilised at convenient times.

Minister Sharma hoped that it would be just a matter of days since the ordinance would be passed from the House, development works that were already tendered out would be implemented as usual but their payments might not be made during the ‘holiday period’.

Published in The Rising Nepal daily on 16 September 2021.