Himalayan Airlines begins flights to Beijing

Kathmandu, June 24

Himalaya Airlines has launched scheduled flight operations between Kathmandu and Beijing, China.

“The new service will provide a convenient and efficient travel option for passengers. We believe that the resumption of this flight route will be a significant boost to both Nepalese tourism and trade,” said the company in a statement on Saturday.

The Kathmandu-Beijing-Kathmandu route commenced on June 24, operating every Saturday. Nepal's Ambassador to China, Bishnu Pukar Shrestha, boarded the first flight, and the company said it represented growing friendship and cooperation between the two nations.

The first outbound flight, H9 665, departed from Tribhuvan International Airport in Kathmandu at 7:40 hours (local time) and reached at Beijing Daxing International Airport at 14:15 hours (local time) in Beijing, with a flight duration of 4 hours and 45 minutes.

Likewise, the return flight, H9 666, departed from Beijing at 15:25 hours (local time) and landed in Kathmandu at 18:30 hours (local time).

"We view the resumption of flights on this route post COVID-19 pandemic is significantly important as it connects two ancient capital cities of the region and that it will be fruitful to rejuvenate tourism growth between the two countries," said Vijay Shrestha, Vice-President, Himalaya Airlines.

According to him, this new route not only strengthens the company’s presence in the international market but also provides a convenient travel option for both business and leisure travelers.

Meanwhile, the Embassy of Nepal in Beijing said in a statement that the resumption of direct flight service between Kathmandu and Beijing plays a significant role in promoting tourism, socio-economic and cultural relations between Nepal and China.

Published in The Rising Nepal daily on 28 June 2023.

New plan to focus on LDC graduation, middle-income

Kathmandu, June 27

The National Planning Commission (NPC) has said that the upcoming 16^th periodic plan (Fiscal Year 2024/25 to 2029/30) would include methods and strategies to smooth the transition to the developing nation status and meet the middle-income criteria.

The country is graduating from the Least Developed Country (LDC) status to a 'developing' one on  November 24, 2026 by meeting the human assets, and economic and environmental vulnerabilities without meeting the criterion of per capita income at the time the United Nations took the decision on the graduation of Nepal, Bangladesh and Laos. However, this year the PCI of a Nepali is projected to reach the average of US$1,399 against the graduation requirement of $1,222.

Nepal is graduating from the LDC club 55 years after it was included in it.

As per the target of the government, Nepal needs to increase the PCI to about US$4,000 by 2030 to be a middle-income country which seems unlikely given the current rate of economic and per capita growth.

Meanwhile, the country also needs to make sure that it achieves the targets set by the Sustainable Development Goals (SDGs) by 2030.

"Therefore, the orientation of the planning for the next five years would be to achieve these development targets," Vice-Chairman of the NPC, Dr. Min Bahadur Shrestha, said at an interaction with journalists at his office on Tuesday.

He said that achieving the SDGs or maintaining the current trade and business scenario after graduation would ensure that the development dividends would reach all the people.

Meanwhile, the planning body has also developed a strategy for the smooth LDC transition of the country.

According to Dr. Shrestha, the NPC has identified the structural challenges to the planning, process and implementation of the development projects. He also said that there are challenges to find out suitable strategies and frameworks to resolve the prevailing crisis.

The upcoming plan will exclusively include the approaches for the wise use of natural resources like forests, stones and pebbles so that it would support employment generation, development and economic growth.

However, the new plan is being formulated at a time when the national economic scenario is not so encouraging with the poor prediction of economic growth of just 1.6 per cent for the current year, negative growth in three economic pillars – manufacturing, construction and trading, and external pressures on price due to Russian invasion of Ukraine, and disturbance in the supply chain since the advent of the coronavirus pandemic.

"Yet, we must not forget that there could be positive results as demonstrated during the period of 14^th plan. We achieved above 7 per cent growth on an average, and good results were achieved in social, health and education sectors in the past one or two decades," said Dr. Shrestha.

The NPC has begun soliciting suggestions from the experts and stakeholders on the upcoming 16^th plan since last week. This discussion would run for the next about eight months.

A steering committee, five thematic committees and many technical committees are active in the plan formulation process.

Secretary of the NPC, Dr. Toya Narayan Gyawali, said that the new plan will also offer some pragmatic strategies to promote livelihood, promote export and reduce the ever-growing trade deficit.

Likewise, Suman Dahal, Joint Secretary at the NPC, said that the constitution of the country, national and sectorial policies, the 15^th plan and its review, LDC graduation strategy, SDGs and mid-term expenditure review would be the basis for the 16^th plan.

He said that the ideas generated during the mid-term review of the current periodic plan would be immensely helpful in the process.

 Published in The Rising Nepal daily on 28 June 2023.

'Nepal holds huge potential in expansion and diversification of capital market'

Kathmandu, June 27

A recent assessment conducted by IFC, and the Securities Board of Nepal (SEBON) has shown that Nepal's capital market has the potential for greater expansion and diversification through its debt markets.

Its study also concluded that the capital market is seeing remarkable growth driven primarily by its equity markets, the IFC said in a statement on Tuesday.

The study examines the current structure of the capital market and recommends expanding into the debt market to support Nepal's substantial financing needs and its sustainable economic development goals, particularly as the country progresses towards LDC graduation and commits to becoming a Net Zero nation by 2045.

To realise this potential, the SEBON and IFC are collaborating on a comprehensive bond market reform and development programme aimed at enhancing corporate bond issuance in Nepal, informed IFC.

According to it, the Nepal Stock Exchange (NEPSE) has played a pivotal role in supporting equity market growth, boasting a market capitalisation of $26.35 billion as of 2022, which accounts for 69.4 per cent of the country's GDP.

In contrast, the debt markets in Nepal constitute a smaller portion of the overall capital markets. Currently, the country has three operational debt markets: money markets, government debt markets, and corporate debt markets.

The money market, although small, lacks corporate money market instruments. Government debt markets dominate, accounting for a substantial 87.10 per cent share. However, corporate bond markets remain in their nascent stage, primarily limited to bond issuances from banks and attracting a limited group of institutional investors, including insurance companies, mutual funds, and other financial institutions.

"Streamlining the bond issuance process, introducing a book-building mechanism, and enhancing transparency are imperative to attract both domestic and international investors," said Martin Holtmann, IFC Country Manager for Nepal, Bangladesh, and Bhutan.

According to him, by implementing these measures, Nepal can create a conducive environment for the growth of the debt markets, unlocking new financing opportunities for businesses and infrastructure development.

To fully unlock Nepal's debt market potential, it is essential to address regulatory and operational challenges, stated the study.

The study concluded that in the offshore bond issuance space, although there are enabling legal provisions, the current regulatory regime does not fully support and facilitate such issuances. This limitation restricts the potential for international participation and limits the growth of the bond market.

The bond issuance process itself is often cumbersome and manual, leading to delays and inefficiencies. Introducing a book-building mechanism, currently absent in the bond markets, would enhance transparency and efficiency in pricing and allocation.

Moreover, there is a lack of incentives for issuers to opt for bond issuance. Restrictions on unlisted companies issuing bonds and inadequate provisions for investment in debentures issued by real sector energy companies for priority sector lending hinder market development.

“Nepal’s infrastructure and investment needs won’t be met until we have a vibrant bond market. We are partnering with IFC to bring in the required reforms,” said Ramesh Kumar Hamal, Chairman of SEBON.

Efforts are underway to streamline the bond issuance process, introduce a price discovery mechanism through a book-building system, and facilitate the dematerialization of government securities. Introduction of a primary dealer and market maker framework will improve pricing in the primary market and enhance secondary market liquidity.

Published in The Rising Nepal daily on 28 June 2023.

300 women receive beautician training

Kathmandu, June 25

Fashion Beauty Parlor and Training Centre has conducted professional beautician training for about 300 women in Nawalparasi and Rupandehi districts.  

The training programmes in Bardghat of Nawalparasi and Manigram and Yogikuti of Rupandehi were organised with the aim of making women self-employed and provide them with opportunities for livelihood, said Gita Sharma, Managing Director of the company.

The training programmes included skills related to hairdressing, beautician, business management and motivation. The company informed that the last training was completed on Friday.

In the training, Russian hair style, micro blading and eye lifting, nail art and professional makeup skills were also taught.

Sharma said that the week-long programme was organised at three places in two districts with the aim of teaching skills to unemployed women and making them self-employed. According to her, senior beauticians from Nepal and India had taught skills to the women who wanted to become self-employed.

They were trained by beauty expert Geeta Giri of Mayaj Beauty Parlor and Training Centre in Kathmandu, Geeta Sharma of Fashion Beauty Parlor, hairdressing expert Vinay Kumar of India and Smita Sharma of ICL India.

The participants of the training said that it was a good opportunity to have quality training, which can be obtained only in Kathmandu and India, in their own city. The training programme was also supported by Timber Home Nepal. Pukar Sharma of Timber Home said that he helped in the youth self-employment program as part of corporate social responsibility.

Meanwhile, Fashion Beauty Parlor has also been preparing to open a new branch in Rupandehi's NG Market.

Published in The Rising Nepal daily on 26 June 2023.

स्टार्टअपमा सहजीकरण, प्रस्तावित नीतिको कार्यदिशा

विगतका कैयौं वर्षदेखि नेपालमा स्टार्टअपबारे धेरै चर्चा-परिचर्चा भए, त्यसका लागि सहयोग कार्यक्रमका बारेमा बहस चले, सरकारले समेत त्यसलाई सघाउने र इक्युबेटर कार्यक्रम सञ्चालन गर्ने बतायो। योजना आयोगले पनि यस क्षेत्रमा हात हाल्न खोज्यो तर कुनै पनि योजना र कार्यक्रमहरू कार्यान्वयनमा आउन सकेनन्। निजी क्षेत्रका संस्था र केही भेन्चर कम्पनीहरूले भने सानो मात्रामा स्टार्टअपहरूलाई सहयोग उपलब्ध गराए।

त्यसैको नतिजास्वरूप अहिले नेपालमा ५०० भन्दा बढी स्टार्टअपहरू उदाएका छन्। यद्यपि सफल स्टार्टअपको संख्या भने थोरै छ। तीमध्ये अधिकांश ठूलो संघर्ष गरेर खडा भएका हुन्। यति हुँदाहुँदै पनि विकसित देशको तुलनामा नेपालमा स्टार्टअप उद्यम वा व्यवसाय सफल हुने दर भने उच्च रहेको जानकारहरू बताउँछन्।

अहिले पनि सयौं युवा योजनाबद्ध वा ट्रायलका रूपमा स्टार्टअप व्यवसाय सञ्चालन र विकासमा लागिपरेका छन्। खासगरी सूचना तथा सञ्चारप्रविधि तथा प्रविधिमा आधारित नवप्रवर्तनहरूका लागि विभिन्न गैरसरकारी तथा निजी क्षेत्रबाट केही मात्रा आर्थिक, प्राविधिक तथा मेन्टरिङ सहयोग उपलब्ध भएको छ।

युएसएआईडीदेखि एशियाली विकास बैंकसम्मका संस्थाहरू अहिले सानो मात्रामै भए पनि नेपालमा स्टार्टअप वा इनोभेशनको प्रवद्र्धनमा लागिरहेका छन्।

उदाहरणका लागि हालै मात्र एशियाली विकास बैंकले शहरी सरसफाइ कार्य र त्यसमा काम गर्ने कर्मचारीलाई सघाउने प्रविधिको विकास गर्ने स्टार्टअपहरूका लागि तालिम, मेन्टरिङ र फण्ड समेत जुटाएर एक कार्यक्रम सम्पन्न गरेको छ।

भरतपुर र नेपालगञ्ज जस्ता ठूला शहरमा पाइलटिङ गरिएका त्यस्ता प्रविधि पछि अन्य शहरहरूमा पनि विस्तार गर्न सकिने सम्भावना छ।

पन्ध्रौं पञ्चवर्षीय योजना (२०७६ देखि २०८१) मा स्टार्टअप व्यवसायमा लाग्ने उद्यमीलाई व्यवसाय सुरु गर्न सुरुवाती कोष र सहुलियतपूर्ण कर्जा प्रवाह गरी वित्तीय पहुँच सुनिश्चित गर्ने, त्यसका लागि बैंक तथा वित्तीय संस्थाहरूसँग सहकार्य गर्ने, तीनै तहका सरकारबीच सहकार्य बढाउने, र उद्यमशीलता सम्बन्धी परामर्श र प्राविधिक सेवा उपलब्ध गराउने रणनीति र कार्यनीति उल्लेख गरिएको छ।

तर पाँचवर्षे योजनाका चार वर्ष समाप्त हुने बेलासम्ममा त्यस दिशामा प्रगति हुनसकेको छैन। योजना सुरु हुने वर्ष नै सरकारले बजेट मार्फत रु.१ अर्बको च्यालेञ्ज फण्डको घोषणा गरेको थियो। २०७७ सालमा पनि इनोभेशनका लागि सुरुवाती पूँजी उपलब्ध गराउन रु.५० करोडको कोषको घोषणा गरी उद्यमीलाई दुई प्रतिशत ब्याजदरमा सहुलियत ऋण दिने बताइएको थियो।

२०७८ सालमा फेरि परियोजना धितो राखी १ प्रतिशत ब्याजदरमा रु.२५ लाख बीउपूँजी दिने भनियो। तर, ती कार्यक्रमहरू सफल भने हुन सकेनन्। नेपालमा कतिपय स्टार्टअप सहयोग कार्यक्रमको प्रवद्र्धन तथा प्रचार-प्रसार नै हुन सकेन भने धेरैजसो घोषणामा मात्र सीमित रहन पुगे।

उद्योग व्यवसाय सम्बन्धी अधिकांश कानुन पुराना भएका र पछिल्ला वर्षहरूमा बनेका कानुनमा पनि स्टार्टअपबारे कुनै व्यवस्था नहुनु संभवतः सबैभन्दा ठूलो कमजोरी बनेको छ।

नीति वा कानुनमै उल्लेख नभएपछि यस क्षेत्रलाई हुनसक्ने संभावित सहयोग पनि कमजोर वा अस्थायी बनेका छन् भने नियमनको अन्योल, वित्तीय सहयोगको अभाव, छुट तथा अन्य सुविधाको अनुपलब्धता लगायत कारणले स्टार्टअप उद्यमलाई प्रवद्र्धन र प्रोत्साहन मिल्न सकेको छैन ।

यसैबीच स्टार्टअप उद्यम सुरु गरेका वा त्यसको सोच बनाएकाहरूका लागि उत्साह थप्ने गरी सरकारले केही महिना पहिले राष्ट्रिय स्टार्टअप उद्यम नीति-२०७९ को मस्यौदा सार्वजनिक गरेको छ। नेपालमा स्टार्टअपका क्षेत्रमा यत्तिको विस्तृत नीति र परिभाषाहरू संभवतः यसअघि आएका थिएनन्। उद्योग, वाणिज्य तथा आपूर्ति मन्त्रालयले सो मस्यौदामा सुझावहरू संकलन गरिरहेको छ।

मन्त्रालयका अनुसार पहिलो पटक बनिरहेको सो नीतिलाई व्यावहारिक र उपयोगी बनाउनका लागि उद्यमी व्यवसायी, नागरिक समाज र विज्ञहरूबाट सुझाव लिएर अगाडि बढ्ने योजना बनेको हो।

के हो स्टार्टअप उद्यम ?

प्रस्तावित नीतिले नवीन अन्वेषण तथा सृजनशील सोचको प्रयोग गरी व्यावसायिक रूपमा सञ्चालित भई स्तरोन्नतिको संभावना रहेको उद्यम वा व्यवसायलाई स्टार्टअप मानेको छ। त्यसमा वस्तु, सेवा वा प्रक्रियाको विकास, उत्पादन, सञ्चालन र वितरणका क्षेत्रहरू समावेश हुन सक्छन्। अर्थात् यी क्षेत्रमा उद्यमीहरूले सञ्चालन गरेका र निरन्तर विकासको संभावना रहेका व्यवसायहरूलाई स्टार्टअप मानिने भएको छ।

अब साना तथा मझौला उद्योग वा व्यवसायलाई स्वतः स्टार्टअपमा समावेश नगरिने भएको छ। तथापि स्टार्टअपको दर्ता भने हाल कार्यान्वयनमा रहेको औद्योगिक व्यवसाय ऐन बमोजिम लघु तथा साना उद्योग अन्तर्गत हुनेछ। सो ऐनअनुसार रु.१५ करोडसम्म लगानी भएको व्यवसायलाई साना उद्योग मानिन्छ भने अधिकतम रु.२० लाख लगानी भएको उद्यमलाई लघु उद्यमअन्तर्गत वर्गीकरण गरिएको छ। लघु उद्यममा उद्यमी स्वयं संलग्न हुनुपर्ने, बढीमा नौ जनासम्म कामदार हुनुपर्ने, वार्षिक कारोबार रु.१ करोडभन्दा कम हुनुपर्ने जस्ता व्यवस्था छन्।

नीतिको मस्यौदामा स्टार्टअप उद्यम हुनका लागि गरिएका व्यवस्थाः

• कुनै वस्तु तथा सेवाको उत्पादन, विकास वा वितरण प्रक्रियामा उपभोक्ताले भोग्दै आएको समस्यालाई समाधान गर्न सूचनाप्रविधिको उपयोग एवम् सिर्जनशील सोचको प्रयोग गरेको,
• पूर्णकालीन कामदार १० जनासम्म भएको,
• वार्षिक कुल आय रु.५० लाखभन्दा बढी नभएको,
• स्थिर पूँजी (जग्गाको मूल्यसमेत) रु.२ करोडसम्म भएको,
• चुक्ता पूँजी रु.५० लाखसम्म भएको,
• उद्यमले वार्षिक रूपमा गर्ने कुल खर्चको कम्तीमा १० प्रतिशत अंश उत्पादन विकास, बजार विकास एवम् अनुसन्धान र विकासमा खर्च गर्ने गरेको,
• उद्यमको बौद्धिक सम्पत्तिको पेटेन्ट वा डिजाइन वा सफ्टवेयर दर्ता भएको वा पेटेन्ट डिजाइन वा सफ्टवेयर दर्ता गर्न योग्य रहेको।

सरकारले नीतिमा गरेको प्रस्ताव अनुसार यहाँ उल्लेख गरिएकामध्ये कम्तीमा पाँच मापदण्ड पूरा गरेको हुनुपर्छ। तर त्यस्तो व्यवसाय वा व्यवसायी कालोसूचीमा परेको, स्थायी लेखा नम्बर नलिएको र ठूला वा मझौला उद्योगको वर्गीकरणमा नपरेको हुनुपर्छ।

कस्ता व्यवसाय स्टार्टअप होइनन् ?

• नेपालमा दर्ता नभएको व्यवसाय,
• वस्तु वा सेवाको खरिदबिक्री गर्ने व्यवसाय वा एजेन्सी,
• कुनै कम्पनी वा व्यवसायलाई टुक्र्याएर बनाइएको संस्था, सहायक कम्पनी वा फर्म,
• सूचनाप्रविधि वा नवीन अवधारणाको प्रयोग नगरी वस्तु वा सेवा विदेशबाट आयात गर्ने,
• कर्जा सूचना केन्द्रमा कालोसूचीमा परेको वा त्यस्तो व्यक्तिबाट सञ्चालन भएको,
• कर प्रयोजनका लागि स्थायी लेखा नम्बर नलिएको,
• होल्डिङ कम्पनीको रूपमा औद्योगिक व्यवसाय ऐन २०७६ अनुसार मझौला वा ठूला उद्योगको वर्गीकरणमा परेको।

स्टार्टअप उद्यम वा व्यवसायका क्षेत्रः

• कृषि तथा पशुपक्षी,
• जडीबुटी र वन पैदावार,
• पर्यटन प्रवद्र्धन, मनोरञ्जन र अतिथि सत्कार,
• विज्ञान, प्रविधि, सञ्चार तथा सूचनाप्रविधि,
• मानव स्वास्थ्य सेवा,
• शिक्षा तथा शिक्षण सिकाइ,
• सहज र सुरक्षित यातायात तथा पारवहन सेवा,
• पूर्वाधार निर्माण,
• विद्युतीय सवारी साधन तथा अटोमोबाइल,
• परम्परागत प्रविधि, उत्पादन र सेवा प्रवाहको प्रक्रियामा सुधार,
• खनिज सम्पदाको अनुसन्धान र विकास,
• घरायसी वा दैनिक जीवनयापनलाई सरल, सहज र सुरक्षित बनाउन सहयोग पुग्ने वस्तु तथा सेवा,
• वस्तु वा सेवाको वितरण प्रणालीसँग सम्बन्धित,
• परम्परागत पेशा तथा उद्यमको पुनर्जागरण,
• प्रस्तावित स्टार्टअप परिषद्ले तोकेका अन्य क्षेत्र वा विषय ।

गत वर्षको अन्त्यतिर उद्योग विभागले स्टार्टअप उद्यमको सहयोगका लागि आह्वान गरेको आवेदनका लागि पनि यस्तै प्रकारका उद्यम वा व्यवसायहरूलाई मापदण्डमा समावेश गरेको छ। त्यसमा खाद्य उत्पादन तथा प्रशोधन र फोहोरमैला व्यवस्थापन लगायत थप क्षेत्र समेत उल्लेख छन्।

उद्योग विभागको मापदण्डलाई आधार मान्ने हो भने सरकारले तोकेको स्टार्टअपको मापदण्डभित्र पर्नका लागि उद्यम सात वर्ष ननाघेको हुनुपर्नेछ।

विभागले पनि कालोसूचीमा परेको, स्थायी लेखा नम्बर नलिएको र ठूला वा मझौला उद्योगको वर्गीकरणमा नपरेको उद्यमलाई मात्र सुविधा उपलब्ध गराउने बताएको छ।

त्यसो त उसले एकल सेयरधनी भएको कम्पनीलाई पनि सुविधा नदिने भनेको छ जुन कुरा स्टार्टअप नीतिको परिभाषासँग पनि मेल खान आउँछ। नीतिमा पनि ‘उद्यमशील समूह’ले सञ्चालन गरेको उद्यम वा व्यवसाय भनेर उल्लेख गरेको छ ।

नीतिमा सुझाव

उद्योग मन्त्रालयको अनुरोध अनुसार विभिन्न सरकारी तथा निजी क्षेत्रका सरोकारवालाहरूले नीतिमा सुझाव दिएका छन्। उनीहरूले यो नीतिले संघीयतालाई सम्बोधन गर्न नसकेको र स्टार्टअप काउन्सिल खडा गरेर केन्द्रीकृत गर्न खोजेको बताएका छन्। यसमा संघीय सरकार र स्थानीय तहबीच कसरी समन्वय हुनेछ भन्ने कुरा उल्लेख छैन।

साथै दर्तापछिको अवधि पूँजी, कर्मचारी संख्या, लगानीको सीमा, प्रमाण जस्ता आधारभूत विषयलाई पुनःपरिभाषित गर्नुपर्ने नीति अनुसन्धान प्रतिष्ठानको निष्कर्ष छ।

खासगरी रु.५० लाखको सीमा र तीन वर्षमै नाफायोग्य हुनुपर्ने व्यवस्था व्यावहारिक छैनन्।

लगानी ग्यारेण्टी, बीमा, सीप मापन, उद्योग मिलान जस्ता कुराहरू पनि नीतिमा समेट्न उसले सुझाएको छ। स्टार्टअप व्यवसाय नीतिलाई समावेशी बनाउनुपर्ने र कर छुट तथा अन्य सुविधाका प्रावधानलाई अझ स्पष्ट पार्नुपर्ने आवश्यकता देखिएको छ।

त्यस्तै, नीतिको मस्यौदाले उद्यमशीलताको विकासका लागि समग्र स्टार्टअप इकोसिस्टमलाई नै प्रवद्र्धन गर्ने लक्ष्य लिएको छ । त्यसका लागि सातै प्रदेशमा स्टार्टअप इन्क्युबेशन सेन्टर, इनोभेशन सेन्टर र बिजनेश ल्याबहरू स्थापना गर्ने भनिएको छ।

यस्ता सेन्टरहरू विश्वविद्यालय तथा कलेजस्तरमा वा निजी संस्थामा पनि खोल्न सकिनेछ । ती सेन्टरले व्यावसायिक सल्लाह, सहयोग लगायत कार्यक्रम सञ्चालन गरी सोचलाई उद्यमसँग जोड्न र विचारलाई बजारीकरण गर्नका लागि आवश्यक साधन स्रोत उपलब्ध गराउने, मेन्टरसिप, तालिम, बजारीकरण र नेटवर्किङ लगायत कार्यक्रम गर्नेछ।

यदि नीतिमा प्रस्ताव गरिएका कार्यहरू इमानदारीपूर्वक लागू हुने हो भने नेपालमा उद्यमी बन्नका लागि अनुकूल वातावरण सिर्जना हुनेछ। त्यस्ता केन्द्रहरूले स्टार्टअप उद्यमीहरूलाई कानुनी, प्राविधिक, बजार, ब्रान्डिङ र बौद्धिक सम्पत्ति लगायत विषयमा तालिम र अन्य आवश्यक सेवा-सुविधा उपलब्ध गराउनुपर्ने पनि नीतिमा उल्लेख छ। तर यस्तो सेवाका लागि प्रविधि र आर्थिक विषयमा सरकारहरूले पनि केही सहयोग गर्ने हो भने त्यसको प्रभावकारिता अझ राम्रो हुने देखिन्छ।

मेन्टरिङका सम्बन्धमा पनि इन्क्युवेशन सेन्टरले मापदण्ड बनाउने र उद्योग विभागले प्रशिक्षकको योग्यता तोक्ने र सूची तयार गर्ने भनिएको छ। त्यसमा निजी क्षेत्रका संस्थाको पनि सहभागिता हुने व्यवस्था गरिएको छैन र उद्यमीले सूचीभित्रका मेन्टरहरूलाई मात्र प्रयोग गर्नुपर्ने बाध्यकारी व्यवस्था नीतिले गरेको छ।

यसले भविष्यमा इनोभेटरहरूलाई अप्ठ्यारोमा पार्न सक्ने देखिन्छ। ज्यादै चाँडो इनोभेशन परिदृश्य परिवर्तन भइरहेको यो समयमा कुनै विज्ञ नभएको क्षेत्रमा समेत स्टार्टअप आउन सक्ने संभावना उत्तिकै छ।

https://www.onlinekhabar.com/2023/06/1328354?fbclid=IwAR1GCe9S0P1xukHRlkKWWrp2E41T4q-poDYv6T4wfxcXLXFKZSRhwiZafJI

Published in onlinekhbar.com on 26 June 2023.

Wyndham Hotels opens hotel in Itahari

Kathmandu, June 24

Wyndham Hotels and Resorts, one of the world's largest hotel franchise companies with approximately 9,100 hotels spanning more than 95 countries, has announced the opening of an 80-room Hotel in Itahari.

This is its first “Ramada by Wyndham” in Nepal. The owning company is AB Holdings Pvt. Ltd., a hotel development and investment company in Nepal.

Located in a central district in Itahari, a business hub of Eastern Nepal, the hotel is slated to open by the second quarter of 2024, the company informed in a statement on Saturday.

The hotel will feature appealing dining options and well-equipped rooms for leisure and business guests. It will have 80 rooms, an all-day dining, lobby lounge and delicatessen, a terrace bar, health club and spa, meeting and event halls, and outdoor swimming pool with a facility for kids.

The hotel can host up to 300 persons for meetings, weddings, private and corporate events.

The agreement was signed by Desh Bandhu Basnet, Chairman of Grand Central Hotel, a subsidiary of AB Holding and Nikhil Sharma, Market Managing Director Eurasia, Wyndham Hotels and Resorts.

Basnet said that it was a matter of pride to bring a world-class brand to Itahari. “This has created an opportunity for visitors to the Eastern Region of Nepal to get world-class hospitality trusted by its guest since 1990,” he said. 

Published in The Rising Nepal daily on 25 June 2023.

Agrawal elected president of CNI

Kathmandu, June 24

Rajesh Kumar Agrawal has been elected as the President of the Confederation of Nepalese Industries (CNI).

At the 20^th Annual General Meeting of the organisation held in the Capital on Saturday, incumbent Senior Vice-President Agrawal is automatically elected as the president of the business body as per its statute.

He has served as a member of the National Council of the Confederation, Chairman of the Industry Committee, Chairman of the Revenue Committee, and Coordinator of the Employers' Council.

Born in Kathmandu, Agrawal has been in the industry since 1992, and is the executive director of RMC Group which is involved in cement, steel, food and other industrial sectors. The outgoing president of the federation, Vishnu Kumar Agrawal handed over the office to the newly elected president.

The AGM elected Sanjay Golchha, Raj Bahadur Shah, Bidushi Rana, Ajit Vikram Shah, Hemraj Dhakal, Ashish Agrawal Jajodia, Manish Khemka, Dwiraj Sharma (Shiwakoti), Dhruba Prasad Rijal, Barsha Shrestha, Hitesh Golchha, Ashish Garg, Sapana Sapkota and Birendra Raj Pandey as the members of the National Council of CNI.

Likewise, Laxmi Prasad Subedi, Gokul Bhandari, Sandeep Sharda, Mohit Kedia, Amit More, Amit Kumar Begani, Chandra Tandon, Rohit Gupta, Nirvana Chaudhary, Varun Kumar Todi, Rahul Kumar Agrawal, Sharad Kumar Tibarewala, Vikram Singhania, Milan Babu Malla, Deepak Agrawal, Vishal Agrawal, Saurabh Dugar, Vikas Dugar, Dileep Agrawal, Gopal Kumar Agrawal and Aditya Sanghai were also elected as the National Council members.

Nirvana Chaudhary, Birendra Raj Pandey, Raj Bahadur Shah, Hemraj Dhakal, Rohit Gupta, Amit More and Bhim Ghimire have been elected as vice-presidents of the federation.

Similarly, Sandeep Sharda, Gokul Bhandari and Chhayan Sharma have been nominated as permanent invited members of CNI.

Rajesh said that he would put his efforts to find solutions to the government's rapidly changing policy rules, high-interest rates, decrease in overall demand, decrease in production, diminishing morale of entrepreneurs and postponement of new investment plans. 

Published in The Rising Nepal daily on 25 June 2023.

Minister Rizal attends takes part in commodity fair

Kathmandu, June 24

Minister for Industry, Commerce and Supplies, Ramesh Rizal, is in Kashgar (Kashi) in Xinjiang of China to participate in the 13^th Xinjiang-Kashi-Central Asia and South Asia Commodity Fair organized by Kashi Prefecture Administration and Government of China.

The Embassy of Nepal in Beijing informed in a statement on Saturday that the minister is leading a delegation and was received by Liu Zhong, General Secretary of the Prefectural Administration of Kashi district at the airport on Tuesday, 20 June.

While delivering a statement in the opening ceremony of the Expo on June 21, Minister Rizal underscored that the expo is a good platform for the exhibitors, entrepreneurs and businessmen from South Asia and Central Asia to showcase their products and strengthen economic as well as people-to-people relations.

He appreciated the trade facilities provided by China for Nepali products and stressed the need for measures to be undertaken to further facilitate Nepali exports to China.

Kashi, located in the southwest of Xinjiang, is considered a core area of the Silk Road Economic Belt connecting five ports and eight countries and China’s major international gateway to Central Asia, South Asia, West Asia and Europe.

During the visit, the Nepali delegation also visited the Kashi Economic Development Zone, the ancient city of Kashi, the Hualin traditional market, the modern Agricultural Industrial Park and the Shufu County Ethnic Musical Instrument Village of Kashgar.

The Expo was attended by ministerial level delegations from six countries including Nepal, Pakistan, Kyrgyzstan, Uzbekistan, Tajikistan and Kazakhstan whereas other envoys, academia, think tanks, media, and more than 200 businessmen also participated in the Expo.

The Nepali delegation comprised Shobha Kumari Sharma Rizal, Spouse of Minister Rizal, Ramchandra Tiwari, Joint Secretary at the Ministry of Industry, Commerce and Supplies, Brihaspati Shrestha, personal secretary of the Minister as well as senior officials at the Embassy of Nepal in Beijing.

Minister Rizal is scheduled to return to Kathmandu on June 26.

Published in The Rising Nepal daily on 25 June 2023.

Govt for strong partnership with private sector for development

Kathmandu, June 23

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that sustainable development could not happen without a strong partnership between the government and the private sector.

Addressing the 20^th Annual General Meeting of Confederation of Nepalese Industries held on Friday in the Capital, the Prime Minister said that he had begun policy facilitation, technology promotion and other necessary steps to support the private sector since he assumed the post.
This cooperation would be further strengthened, he said while adding that such partnership is crucial for employment generation and import substitution.

Stating that the industries that have a high reliance on imported raw materials would not contribute much to the economy, PM Prachanda said that the government, through the policy and programmes and budget of the coming fiscal year, has given priority to the industries that consume domestic raw materials.
He said that the demand of the private sector to run industrial zones in the public-private partnership model would be duly addressed.

Minister for Finance Dr. Prakash Sharan Mahat said that the implementation of policy and programmes including the budget was the greatest hurdle to the development and prosperity in Nepal.
He said that initiatives have been taken for the better implementation of the budget of the coming Fiscal Year 2023/24.
He said that the trade-based economy should be changed to a production-based economy.
"We have started the implementation of budget restructuring, manufacturing promotion and protection of domestic industries," he said.
Dr. Mahat maintained that he has not increased the taxes but VAT discounts and refunding have been scrapped.
He expressed his confidence that the economy would catch momentum in the near future.
Mentioning the retrospective policy on the tax on the bonuses of the banks and financial institutions, he said that the government has just implemented the recommendations of the Office of the Auditor General.
However, we are committed to spreading the beneficial policies across business sectors, said the Finance Minister.

Minister for Labour, Employment and Social Security Sarat Singh Bhandari said that the failure in creating employment generation was a matter of serious concern.
He said that the government has emphasised ethical recruitment practices in foreign employment.
Cheating in foreign employment is rampant which is proved by 20,000 compliant registered at the Department of Foreign Employment, he said.
According to Minister Bhandari, the government is creating job centres at the local bodies as well.

Speaking on the occasion, businesspeople said that the private sector should be facilitated with better investment opportunities and financing options and government must work to realise this.
Without facilitating the private sector which has 82 per cent contribution to the economy and employment, achieving high economic growth and development targets wouldn't be achieved, they said.

Speaking at the meeting, the outgoing President of CNI, Vishnu Kumar Agrawal, said that there was a need for protecting the domestic industries to create a self-reliant economy.
"Nepali industries have long been suffering from unauthorised trade. So, trade of contraband and illegal goods should be checked," he suggested.
He also suggested removing ceiling on land ownership and creating an environment to run industrial zones in the public-private-partnership model. 

Published in The Rising Nepal daily on 24 June 2023.

Steps taken to address security risks in govt data centres, servers: PM

Kathmandu, June 23   

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that the government has taken necessary steps for permanent solutions to end cyber security and other risks that appear in government data centers and servers.

"We have also moved towards building a One Stop Solution and Data Exchange Platform to bring blueprints and all digital services to a single platform, including a technical audit of the effectiveness of all digital mechanisms used in the government service delivery and performance system," he said while addressing the inaugural session of Digital Conclave Nepal 2023 on Friday in Kathmandu.

The two-day conclave will run through Saturday and discuss various aspects of ICT policies, e-commerce, e-governance, digital services and their implementation.

Prime Minister Prachanda informed that the work of operating all government websites based on the same standard (Standard Webpage Framework) has started, and the work has progressed to complete using digital technology, from complaints hearing system including Hello Government to the monitoring of development works.

According to him, the government has expedited the process of formulating and implementing laws and policies on information and communication technology (ICT), cyber security, startup and e-governance and e-commerce in order to build a self-reliant economy.

The Prime Minister said that along with transparency, accountability, digital technology and its use are also important for good governance. "Not only this, there is a need to systematically use the technologies developed in the information and communication sector to make the government's role effective at par with people's expectations in some areas such as social awareness, education, health, and employment," he added.

However, he said that there is a challenge to keep updating the technology, structure and service delivery pattern or style and to change the policy structure accordingly.

Meanwhile, he emphasised on infrastructure development needed for digital Nepal. "Necessary initiatives have been taken to raise the standard of living even for the common people in the remote areas that are not within the reach of the state. The intention of the government is to reduce the digital divide and emphasize on the digital economy," said PM Prachanda.

However, the reality is that Nepal's geographical situation, lack of resources, lack of skilled manpower and some policy difficulties have not led to development as expected, he maintained.

"Although our expectations and thinking are as fast as Artificial Intelligence (AI), the resources, structure and working style are not in accordance with it. It is necessary to develop the nation towards digital capability by paying special attention to this," he said.

Speaking on the occasion, Minister for Communication and Information Technology, Rekha Sharma, said that the country needed a high-powered institution that could coordinate among the organisations and stakeholders working in the digital technology and economy.

"There is not a dedicated institution that could coordinate among all the institutions and programmes in the digital sector. Likewise, this field is also witnessing the shortage of leadership," she said.

According to her, the government has given high importance to the digital literacy.

Meanwhile, the ministry is also mulling to implement the hybrid system in technical human resource management which would facilitate higher payment to the manpower in this field.

"The current government pay scale has failed to attract sharp-minded technical human resources to the public sector IT profession. Experts should be paid well," Minister Sharma said, adding that the concept of IT Staff College for the continuous capacity and skill enhancement was also being discussed about.

She also informed that the government is in the process of formulating new and dynamic policies and laws for the ICT sector to enhance productivity, transparency, and speed of work. 

Razan Lamsal, Chairman of the ICT Foundation, the organiser of the event, said that the conclave was being organised after successfully holding digital interactions in seven provinces. 

Published in The Rising Nepal daily on 24 June 2023.

Pharmaceutical giant Gilead pressured to lower drugs price

Kathmandu, June 23

Aids Healthcare Foundation (AHF) said on Friday that it would continue to pressure the US pharmaceutical giant Gilead Sciences to provide the medicines of HIV/AIDS and Hepatitis C at reasonable rates and stop evergreening patients on those medicines.

Stating that the drug producer is one of the worst offenders of 'big pharma profiteering', the US-based non-profit organisation said that the company has priced several of its HIV and Hepatitis C drugs out of reach for many people worldwide, particularly in lower-income countries.

Gilead is among the top 15 largest biopharmaceutical firms in the world, generating over US$27 billion in revenue. "In addition to overpricing lifesaving drugs, it has refused to register some medications in lower-income countries and consistently blocks attempts to introduce cheaper, generic versions of its medicines," Country Program Manager of AHF Nepal, Divya Raj Joshi, said at a press interaction organised to inform about the campaign.  

According to him, the exorbitant price of critical medicines would also create challenges for the low-income countries as they might face problems in meeting the targets of the Sustainable Development Goals (SDGs). In addition, the government will be unable to procure these medicines as they lack resources.

AHF said that the patent of critical medicines should be extended to the middle-income countries, like India, so that it could be produced and distributed at a lower price.

It has demanded to open the license for the generic production of the Hepatitis C drug Harvoni to all low- and middle-income countries, without exception, and license technology to produce treatment for cryptococcal meningitis to generic manufacturers.

"We are calling on Gilead to do these five things because they are vital in helping the millions of people in low- and middle-income countries that don't have access to the affordable, lifesaving medicines they need," said AHF Asi Bureau Chief, Dr. Chhim Sarath.

Likewise, Joshi said, "We have seen a successful global HIV response over past decades thanks largely to affordable, generic antiretrovirals (ARVs). These therapeutics are accessible due to expanded regional production made possible by the sharing of intellectual property that tallow other manufacturers to produce these drugs and make them available at a lower price." 

Published in The Rising Nepal daily on 24 June 2023.

Trade deficit shrinks, so does export

Kathmandu, June 22

Owing to the import control measures that the government implemented in the current Fiscal Year 2022/23, trade deficit of Nepal has gone down by more than 15 per cent in 11 months this year against the increment of 25 per cent in the previous FY 2021/22.

Nepal's trade deficit came down to Rs. 1337.4 billion in mid-June 2023 from Rs. 1577.4 billion in mid-July 2022, according to the statistics of the Department of Customs (DoC) published on Thursday.

Despite this correction in the international trade, Nepal's imports/exports ratio has gone up to 10.31 this year from 9.49 last year which is a growth of 8.71 per cent. Two years before in 2020/21, such ratio was 11.41.

However, the correction in the trade deficit is not the result of the increased export trade of Nepal but significant fall in imports.

Imports in the 11-month period this year have gone down significantly to Rs. 1480.98 billion from Rs. 1763.22 billion in the same period last year. This is a fall of 16.01 per cent.

But exports have gone down by 22.74 per cent to hit Rs. 143.58 billion in mid-June this year from Rs. 185.83 billion in mid-June 2022.

According to the DoC, Nepal's trade balance has remained in surplus, although with a negligible amount of below Rs. 1 billion, with Denmark, Norway, Algeria, Niger, Cambodia, Uruguay, Chad, Latvia, Afghanistan and the Maldives. The highest positive trade balance is Rs. 436 million with Denmark.

However, Nepal's largest trade partners are India, China, Indonesia, United Arab Emirates, Argentina, Malaysia, Ukraine, Australia and Qatar. Nepal witnesses a large trade deficit with all of these nations. Trade deficit with India is Rs. 838.8 billion, China Rs. 200.8 billion, Indonesia Rs. 39.7 billion, the UAE Rs. 30.7 billion, Argentina Rs. 23 billion and Malaysia Rs. 21 billion.

Nepal imported goods worth Rs. 17.3 billion from the war-affected Ukraine but export to this European nation is just Rs. 9.7 billion.

Nepal's major imports this year are diesel, petrol, cooking gas, iron, crude palm oil, crude soya-bean oil, Air Turbine Fuel (ATF) and gold. Total import of petroleum products from India amounts Rs. 272.23 billion (18.38 per cent of the total import).

Last year in the same period, Nepal imported the petroleum products worth Rs. 280.16 billion.

Likewise, imports of palm oil and soya-bean oil stand at Rs. 21.64 billion and Rs. 21.33 billion respectively.

Likewise, major exports from Nepal are carpets, textiles and woolen products, palm oil, soya-bean oil, large cardamom, juice, felt, yarn and tea. Carpet tops the export category with Rs. 10.32 billion while palm oil products stand combined at Rs. 16.32 billion and soya-bean oil Rs. 8.47 billion. 

Published in The Rising Nepal daily on 23 June 2023.

NPC continues collecting suggestions for 16th plan

Kathmandu, June 22

Experts have suggested that the 16^th plan to be prepared by the National Planning Commission (NPC) should be a national plan rather than a federal plan.

Speaking at a programme organised by the NPC to solicit suggestions for the upcoming five-year plan (Fiscal Year 2024/25 to 2029/30), the experts suggested that the 16^th plan should be formulated considering the importance and presence of provinces and municipalities.

According to them, if planning is done with an aim to guide the plans of the provinces and municipalities, it will become truly a 'national plan'.

To obtain suggestions for the upcoming plan, the NPC has begun discussions with former vice-chairmen and members of the planning body, economists, incumbents and former secretaries of the government and experts in various subjects since Wednesday. The first phase of discussion will last till Friday.

Dr. Min Bahadur Shrestha, Vice-Chairman of the NPC, said that the new plan would be prepared on the basis of suggestions given by the experts. According to him, the plan would be finalised by the third week of July 2023, and published by mid-February 2024.

The experts suggested that the role of the commission should be strengthened. They also recommended preparing separate plans and targets for each year.

They have said that the five-year plan should be publicised and it should be reached all three levels of concerned agencies and sub-national governments. They also cited poor coordination in policy making and its implementation.

Likewise, the experts suggested that a plan should be made keeping in mind the census of 2021, initiating policy to increase the private sector investment and increase the production of various sectors including agriculture.

Suman Dahal, Spokesperson for the NPC, said discussions would also be organised at the provincial level as well.

Secretary at the Prime Minister's Office, Ek Narayan Aryal, Secretary at the Ministry of Labour, Employment and Social Security, Kewal Prasad Bhandari, Secretary at the Ministry of Culture, Tourism and Social Security, Suresh Adhikari, former Attorney General Ramesh Badal, former members of the NPC, Dr. Chandramani Adhikari, and Dr. Ganesh Gurung participated in the discussion on Thursday.

Similarly, former economic advisor of the Ministry of Finance, Dr. Surendra Upreti, former secretaries Purushottam Ojha, Yam Kumari Khatiwada, Kedar Bahadur Adhikari, Purna Chandra Bhattarai, Gopi Nath Mainali, economist Dr. Bishwas Gauchan, President of the Federation of Nepalese Chambers of Commerce and Industry, Chandra Prasad Dhakal, and President of National Cooperative Federation, Minraj Kandel were also present at the event.

Published in The Rising Nepal daily on 23 June 2023.

Powerful Poems, Colourful Emotions

Writing poetry demands a considerable feat of work, including thinking, understanding, explaining, and the ability to tell it succinctly. Although many find it highly gratifying, only a couple of them give it a try for the very same reason: the fear of being unable to express their feelings in poetic expressions, so we have very few poets that are making an impact. Recently, a new name has been added to that small family of poets who can weave poetry that not only represents contemporary times but also enriches the genre with creations that appeal to an international audience and tell stories from Nepal.

"The Colours of Spring," an anthology of English poems by Kuma Raj Subedi, is a treasure given to Nepali as well as to the English literary tradition in Nepal. His use of imagery, metaphors, and symbols in the poems is unique, and he delivers deep meanings with simple words. He does not let the readers feel that this is his debut effort. His intricate dealing with varieties of topics, including love, nature, relationships, politics, culture, myths, society, gender, and diaspora, is relatable to readers in Nepal and abroad. Poetry draws a few readers against its fictional and non-fictional prosaic counterparts since it also demands effort on their part. But Subedi is economical in his use of words while expressing his feelings; he delivers the exact meaning in a few words, thus assisting the readers to grasp the ideas and meanings between the lines.

Like a commodity in an open market 

branded emotions and feelings,

bursting out from the core of my heart, 

are placed on a showcase of 

digital world 

for sale. 

(For Sale)

The book includes 77 poems of various lengths penned by Subedi. His poems express deep understandings of human relations and social dilemmas, emotions and experiences, nature's beauty, and human follies. He goes contrary to the traditionally held notion in Nepal that using heavy and complex words makes poems valuable and unique. He mesmerises the readers with his love poems with everyday words.

I am not a fragrance

but an incense itself

who would bun for your sake

until the end, watch it – 

should you wish. 

(The Loneliness of a Long-Distance Runner)

You should read his poems to look deeper into how society and education have forced an individual to apply logic. He is stunned by the reasons and logic now and longs to get back to the days of his childhood when he used to herd the goats by the river and in the woods, swim in the river, and when leopards were his enemies. There was fun; there were no artificial dealings in society. He praises his parents for the childhood tales, quizzical days, all the laughs, and ever-ready hands to feed him. In another poem, the poet uses the metaphor 'nymph' to describe his mother, whose face was big enough to hold skies and vales and where he could see his nation.

Yes, 

my mother's face is 

my safe Heaven

where seasons dance playfully 

and so do I. 

 (Mother's Face)

Perhaps some of the best poems in the book are written about love. 'Love Musings', 'Unseen Reality', Carpe Diem Lady!' 'Darling Harbour', 'A Pilgrim of a Pious Pulchritude', 'Drinking the Moon', 'Without You' and many more tell the sweet feeling and music of love and romance where he describes his love, lover, and affairs with her. Some poems give you goosebumps, some amuse you, and some pull your heartstrings, and later you realise that there was a sweet music inside you that just awakened your soul. In some poems, he also juxtaposes his love for nature. But it's not that the poet only talks about love; he also criticises the traditions that snatch the liberty of women, male chauvinism that wants to continue with the servitude of women, and masculinity. Just look at the powerful portrayal of the position of an unmarried mother in Nepali society. He uses the powerful simile of a spider's web and death with every breath.

Not married-

but with a child

in a Hindu society! 

What a curse!

a living corpse 

breathing she dies

like a spider in a web! 

(Manifold Deaths)

Subedi also prominently talks about the diaspora in his poems, where he tells the readers about 'the Aussie dream', 'Southern Cross' of Canberra, 'Port Lincoln', and 'Darling Harbour'. He also expresses his deep concerns about domestic events, bad politics and demagogues, life in Nepal, and cultural erosion. The plight of Nepali migrant workers in foreign lands and their nostalgia have also featured prominently in some of the poems. "Poems in The Colours of Sprint have a typical Nepali flavour tinged with some foreign taste," says Prof. Dr. Shreedhar Prasad Lohani.

Poems like 'Staircase' and 'Life's Adventures' present a minute observation of the progress in the life of a human being and the urge to live in the present, not to remorse the bygone days. In some poems—"Eyes=Hearts' and "Lemon"—the poet has played with the words, while a couple of them are two- and three-liners with powerful punch lines. This is a book that Nepali literature should cherish. With the entry of Subedi, English literature in Nepal has a potential and powerful writer. As Yog Chandra says in the book, "his talent for crafting powerful words reveals a deep understanding of how languages can be used to create vivid images, draw readers into familiar and unfamiliar settings, and make them feel a wide range of emotions." This is what poetry should be aimed at.

Published in The Rising Nepal daily's Friday Supplement on 16 June 2023. 

E-sewa to allow cash withdrawal

Kathmandu, June 21

Users of the payment service provider e-sewa can now withdraw money from their e-sewa account through ATM machines. The company has launched the new service in collaboration with Everest Bank.

There is no need to use any kind of card while withdrawing the amount in e-sewa from the ATM. Users can easily withdraw cash from ATMs through OTP on their mobile phones. Previously, to withdraw the amount in e-sewa, the users had to transfer it to the bank account.

The company said that this service has been launched for the first time among wallet companies in Nepal.

Jagadish Khadka, Chief Executive Officer of e-sewa, said in a press conference held in Lalitpur on Wednesday to inform about the service, "We have always been giving priority to cashless economy and operating the same kind of services. But sometimes the amount in e-sewa is needed in cash, so we have started this service with the aim of making it convenient for the users."

Likewise, Bijaya Kumar Sharma, Deputy CEO of Everest Bank, said that they were excited to collaborate with Nepal's first and leading wallet company like e-sewa. "e-sewa users can easily withdraw money through any ATM machine of Everest Bank located all over the country," he informed.

Currently, about 7.5 million customers are using the service of e-sewa through Android and iOS mobiles. It has more than 200,000 agents across the country. 

Published in The Rising Nepal daily on 22 June 2023.

Sunrise Capital's rating upgraded to AMC 3 Plus

 Kathmandu, June 21

Care Ratings Nepal Limited (CRNL) has revised and upgraded the Fund Management Quality Rating (FMQR) of Sunrise Capital Limited (SCL) to AMC 3⁺ from AMC 3.

AMC 3⁺ indicates adequate assurance on management quality of Asset Management Company (AMC), said the Sunrise Capital in a statement on Wednesday.

According to the company, the revision in FMQR rating assigned to SCL derives from the factors such as the sustained growth in scale of operations, overall Assets Under Management (AUM) of SCL coupled with better returns of the schemes marked by the better alpha and relatively lower beta of the schemes over FY 2022/23.

It further said that the rating also factors in SCL’s established track record of operations in merchant banking.

"The FMQR, however, continues to remain constrained by evolving nature of the Mutual Fund Industry, limited market diversification in the industry so far, and volatile trend of the Nepal Stock Exchange (NEPSE) index," read the statement. 

Published in The Rising Nepal daily on 22 June 2023.

Sipradi offers EV financing in 3 days

Kathmandu, June 21

Sipradi Trading, the official dealer of Tata Motors for Nepal, has announced a fast and simple vehicle financing facility for customers who want to buy their electric vehicle, which will be available from Sipradi and its dealers across the country.

As per the new scheme, up to 80 per cent of vehicle financing of Nexon EV and Tigor EV will be available within three days.

The said financing will be available at a minimum interest rate of 10.05 per cent by various A-class banks in the country, the company informed in a statement on Tuesday.

Tata Motors' EV vehicles will be available through the network of Everest Bank, Nabil Bank, NMB Bank, Global IME Bank, and Prabhu Bank.

Sipradi runs fast charging stations in 20 locations and service centres in 23 locations in Nepal. It said that there are plans to build more EV learning centres and training centres to further strengthen the efficiency of human resources.

Published in The Rising Nepal daily on 22 June 2023.

Preparations begin for 16th plan

Kathmandu, June 21

The National Planning Commission (NPC) has started preparations for the 16th plan to be implemented from the Fiscal Year 2024/25 to 2029/30.

For the upcoming 16^th plan, the NPC organised discussions with its former vice-chairmen, former members and economists on Wednesday.

Vice-Chairman of the NPC, Dr. Min Bahadur Shrestha informed that preparations for the 16^th  plan have started with the national aspiration of achieving good governance, prosperity, and social justice through structural transformation.

He also stated that the work of the 16^th Plan should be completed in the face of the challenges in the economy.

Dr. Yuba Raj Khatiwada, former Finance Minister who also served as the vice-chairman of the NPC, said that too ambitious targets for economic growth should not be set for the next planning period.

He said that it would be enough to set the target of 7 or 7.5 per cent economic growth in the current situation. He said that if the target of 8 per cent is to be set, then full emphasis should be placed on exports-oriented industrial growth.

Khatiwada argued that the definition of pride projects should be changed. The projects that are called national pride projects are not worth being proud of, he said.

Former Vice-Chairman, Prithvi Raj Legal also suggested being more realistic while setting the target of economic growth.

Dr. Dinesh Chandra Devkota, former VC of the planning body, said that the plan should be formulated to prevent the misuse of grant money and with high priority to the application of technology.

Likewise, former VC and former Governor of the Nepal Rastra Bank, Dipendra Bahadur Chhetri, said that the upcoming plans and programmes should be production-oriented. According to him, increasing production and export should be accorded top priority.

Formers VC, Dr. Jagdish Chandra Pokharel, and former members Dr. Janakraj Shah, and Dr. Govinda Nepal, Dean of Humanities and Social Sciences at the Tribhuvan University, Dr. Kusum Shakya, and Head of Department of Economics at TU, Dr. Shiva Raj Adhikari also offered their suggestions on the upcoming five-year plan.

Suman Dahal, Spokesperson for the NPC, informed that the discussion will continue till Friday.

Published in The Rising Nepal daily on 22 June 2023.

Insurance companies resume selling agricultural, livestock product

Kathmandu, June 20

Insurance companies have resumed the issuance of agricultural and livestock insurance after a month.

The companies had ceased selling agricultural and livestock products since May 21, citing government's failure to pay subsidies of about Rs. 3 billion insurance premium.

It has been more than one and a half years since the payment of subsidy on the premium of livestock insurance was stopped. Similarly, payment of subsidy on fishery insurance premiums has not been paid since 2020.

Nepal Insurers Association (NIA) informed in a statement on Tuesday that the companies decided to begin selling agricultural and livestock insurance from the same day, June 20.

"The Ministry of Agriculture and Livestock Development provided some partial amount to the insurers on June 15. Likewise, Minister for Agriculture and Livestock Development, Dr. Beduram Bhusal, expressed his commitment to provide the subsidy amount immediately, so we have decided to resume the service," read the statement.

The ministry has also requested the companies to continue with the agricultural and livestock insurance service. In response, the NIA decided to sell the policies till July 16 this year. "We will stop selling agricultural policies if the government fails to pay the money by that time," said the NIA.

The government had begun providing subsidies on agricultural insurance premiums since January 2013. Insurance companies have been issuing insurance policies as per the directives of the Nepal Insurance Authority, the insurance sector regulator, but getting the subsidy amount after a year of issuing the policies. Currently, government provides 80 per cent subsidies on agricultural and livestock insurance.

According to the insurers, the government's inability to pay the subsidies on insurance premium left them helpless in clearing the claims.

"Even when the insurers repeatedly tried to get the subsidy money, the subsidy was stopped on various pretexts. This was the reason behind the cease of the business," said the NIA.

But according to the Authority and Department of Agriculture, the payment of the subsidy was disturbed as the data provided by the insurance companies couldn't be verified.

However, as the Authority is developing software to record and verify the information and statistics, the process would be simplified soon.

The NIA has requested the government, Department of Agriculture, Department of Livestock Development and Nepal Insurance Authority to take the initiative to immediately provide subsidies for agricultural insurance.

Published in The Rising Nepal daily on 21 June 2023.

NBA, USAID to cooperate in increasing financial access

Kathmandu, June 20

Nepal Bankers Association (NBA) and USAID have agreed to collaborate in the activities to increase the access of entrepreneurs and businesspersons to the financial sector and solve policy issues and complications.

The two organisations signed a Memorandum of Understanding (MoU) on Tuesday for the same. It is signed by the President of NBA, Sunil KC and Chief of Party of USAID Trade and Competitiveness, Agnes Luz.

According to this agreement, the two parties will also collaborate in various fields like holding dialogue on various topics, and emphasising on entrepreneurs' capacity building and research. Mainly, it is believed that this collaboration will play a supportive role in making small and medium entrepreneurs and especially backward classes participate in financial inclusion, NBA said in a statement.

Nepal Bankers Association was established as a joint organisation of the banks and financial institutions to develop healthy competition by establishing mutual coordination between banks and financial institutions, and to maintain uniformity in policies and procedures related to banking transactions. 

Published in The Rising Nepal daily on 21 June 2023.

NRNs urged to hold unity convention as per statute

Kathmandu, June 18

Foreign Affairs Minister, N. P. Saud has requested the Non-Resident Nepali Association (NRNA) – a global organization of non-resident Nepalis – to hold a convention as per the constitution.

In a discussion with a delegation of the NRNA at his office at the Ministry of Foreign Affairs (MoFA) on Sunday, FM Saud asked the representatives of the NRNA's establishment side and the group that remained dissatisfied since the organisation's 10^th convention to hold the convention according to the statute.

He suggested to the representatives of both sides who called on him jointly to be clear about the statute of the association and plan the convention accordingly. "According to the statute, leaders are selected through a due process. Some lose, some win. So, first of all, the legislation should be clear," said FM Saud.

Stressing that the relationship between the MoFA and the NRNA should be clear and conflict-free, he said that the relationship between the two should not be controversial. If there is a need, the MOFA would take action only according to your statute, he further said.

He also reminded the representatives of NRNA that the tendency to control any organisation and organnise parallel activities at a time when someone doesn't have control over the institutional affairs are fatal.

FM Saud also suggested both sides to amicably sort the issues out. "Bring the matter of acceptance to the ministry and leave the rest of the issues to the court. If the MoFA makes any decision, don't take it for granted because if we made any decision, it would be as per the statute of the organisation," he said.

A case about NRNA's dispute is under consideration at the court.

In the meeting with Foreign Minister Saud, Executive Chairman of NRNA Dr. Badri KC had informed that both sides had agreed on unity only on Sunday.

Earlier in the morning, the two sides reached to an agreement touted as 'unity' in the presence of Prime Minister Pushpa Kamal Dahal Prachanda.

A memorandum of understanding was signed between KC and Vice Chairman RK Sharma, and Binod Kunwar from the dissatisfied group while the coordinators of the high-level negotiation committees DB Chhetri and Janaki Gurung also signed the document.

The letter of agreement mentions that the 11^th general assembly would be organised in October 2023 and it would be the convention of consensus, cooperation and unity.

For this, a high-level monitoring committee will be formed incorporating the representatives from both sides.

The committee will monitor the distribution of membership, the selection of convention delegates and the election of national and international coordination councils.

There is a provision that NRNA should get the approval of the Ministry of Foreign Affairs for the amendment of the constitution.

The NRNA's leadership was split during the 10^th general convention held last year due to issues like membership distribution, leadership election and holding the convention.

It was the dispute of the selection of the representatives for the National Coordination Council in various countries for the 10^th General Convention. A group went to the MoFA with a complaint and the ministry asked not to conduct the election but the association filed a case at the high court which gave a verdict in favour of the NRNA.

Since the events were likely to turn to unfavourable situation for both the sides, some senior leaders including the dissatisfied ones decided to form a team and move ahead. As a result, the NRNA now has a council of three presidents and they take the executive role one after another.

Former President Shesh Ghale from the dissatisfied group was absent during the previous efforts to forge consensus although Kul Acharya and Binod Kunwar are representing his fraction in the association. The latest agreement is likely to end all disputes, according to the NRNA sources. 

Published in The Rising Nepal daily on 19 June 2023.