Sharp Satire To The System

 Tej Bilas Adhikari is known for his crispy presentation of his surroundings—in his literary creations—that pinches, or punches sometimes—the readers and forces them to appreciate the presentation, if not the ideas. Recently, he has tested his mettle with 'Muktak' and come up with a book 'Utprekshan' consisting of 228 contemporary 'Muktaks'. 'Muktak' is one of the smallest forms of poetry, which is quick and sharp and can cause immediate emotions in the audience. If one has better skills to recite it, the impact is more profound. Dr. Devi Nepal, a literary critic from Nepal, said that while being the smallest form of poetry, 'Muktak' has electric power. This is the discipline in poetry that has attracted many, including legendary poets like Bhupi Sherchan and Hari Bhakta Katuwal.

Adhikari's 'Utprekshan' is a package of satire on the existing chaos, dishonesty, and selfishness visible in politics, society, and human relations. While doing so, he exhibits the utmost level of creator's integrity and does not leave any section of society that is not in order. No doubt, politics has become the main punching bag since the sector, which is the nucleus of all policies, development, and socio-economic relations, has degraded to a level from which it no longer can contribute to the prosperity and well-being of people. At times, he lambasts the court and temples as well.

No verdict on time, they call it a court

Murder at the cowshed, they call it 'Dharmashala'

Country has pushed into a chaos, alas! 

No protection of people, they call it republic. (222)

 

Indifference of politicians and the government to the public and their issues, growing corruption, youth exodus, economic hardships of lower-class people and their struggle, and cultural degradation have got centre-stage in the poet's creations that are mostly contemporary and talk about the issues that are either familiar to the readers or express frustration over the issues that are representative. Several 'Muktaks' are focused on the moral degradation of modern politics, where political leaders sprout from the lower class but metamorphose to the higher and elite class after their elevation to the ruling class. They deceive the people, never fulfil their promises, and build their mansions instead of serving the country and providing basic amenities to the masses. Tej Bilas' creations have found their voices in the form of irony and satire. This is the biggest strength of his book, and this is what appeals to and amuses the readers as well. One of his 'Muktak' says that people are troubled from inside and their hearts are burning, but regardless of their pains and plights, the same one returns to the power in different attire.

Likewise, another tells us that there was a master plan before the election, but it turned into a loot plan afterwards as the leaders have focused on raising their election investments through 'behind the curtain' activities. Yet another expresses concerns about the royal lives of leaders and workers living with hungry stomachs. 'Socialism has become a fairy tale," concludes Tej Bilas. It is more worrisome that the political parties that ruled the country in the past several decades have 'socialism' as the core political philosophy. 

However, the author sometimes requests that leaders and people tread on the right path and not refuse cheap speeches to make an impact on society. He has exhibited a good understanding of the economy, environment, and even climate change. While expressing worries over the economic downturn and omnipresent corruption, his creations also touch on the malpractices in cooperatives, education, parliament funding, and the management of public properties. Deterioration in the quality of public services has also found its way into the creation.

Corruption is rampant in the development budget 

Complete personality has turned into rags 

They damaged economy to such an extent

Millions have 'Sarangi' belly, sunken cheeks. (51)

Tej Bilas is also worried about the empty villages in the hills and mountains as a result of migration to the plains and urban areas. By the time roads, electricity, and other facilities reach the villages, the settlement is already deserted. It has caused a huge economic burden on the country while people are not benefiting from the development initiatives. In one of his pieces, he ironically says that even the gods have no chance for amusement since there are no people to serve them. He is vigilant about the country's overdependence on other countries, even for food items. On the contrary, the author has presented the amusements of love and beauty in nature in his four-liners. While he enjoys the beautiful flowers, like marigold, he suggests the gardener let all flowers blossom, as each one of them has its own existence in the world.

Meanwhile, Tej Bilas has also got time to care about media and journalism and suggests they offer valid and right information as it would not only enhance the knowledge of people but also empower them. You can also find a couple of recollections in his creations where he promises to be a good citizen and a good human being. The book is a representative voice of common Nepalis who are frustrated with politics without integrity, nepotism, and corruption.

He says that the social maladies burn his eyes and pierce through his heart. While people are moving with fake smiles, their lives have been spent offering artificial relationships and extending fake feelings. But he has found a way to console him.

Love is relative 

Shadow is relative

Time has been changed

Development is relative. (191)

  Published in The Rising Nepal daily's Friday Supplement on 8 March 2024.        

Bista's Dreams Of Flight Soaring In Business

 You can find quite a few people who have fulfilled their childhood dreams, achieved excellence in multiple fields, and tried their fate in business, remaining successful in their ventures. Hotelier Shangharsa Bista is one of those few. The Managing Director of Nepali Chulo and President of the Nepal Restaurant and Bar Association of Nepal (REBAN) is an entrepreneur built with the utmost dedication and perseverance.

During his adolescence, a pilot's uniform was the first thing that attracted him the most, and he dreamed of flying an aeroplane. In pursuit of this dream, he reached the United States in 1994 and started pilot training. Back home in Kathmandu, his parents would look up to the flying planes in the sky and make a vow to Goddess Dakshinkali to sacrifice a goat if she made their son return to Nepal.

That was the time before the advent of modern-day communications like mobile phones and social media. Yet, when he got the news about the vow of his parents, Shangharsa made arrangements to leave the US, and after a week, he was with his family. But the impulse to fly in the sky again landed him in the US in 2003. This time, he left the country for paragliding training. He became the first Nepali to obtain a paragliding license officially, and he operated paragliding for about a decade. He is a good swimmer and a black-belt holder in martial arts.

It was the travel and tour business run by his eldest brother, Bidroha Prakash, where Shangharsa finally settled. He joined the business in 1989 immediately after completing his high school exams as an intern and worked as a ticketing officer and ticketing in-charge during his college life. These experiences gradually, yet unknowingly, developed entrepreneurship in him.

Bidroha Prakash was working at Royal Nepal Airlines Corporation and had good connections with the hospitality and travel businesses. So, he sent his brothers Barga Dwanda and Shangharsa for further training in the hospitality and travel sectors. Under the guidance of their father, Shambhu Bista, they entered the business as a 50 per cent partner in Osho World Travels and Northfield Café, which was run in Thamel about three decades ago. In the later years, they expanded their investments in the entertainment and manufacturing sectors as well.

The Bista brothers created a fusion of hospitality and culture through Nepali Chulo (the Nepali name for a traditional firewood stove) in 2004. They were daring enough to launch the restaurant business with a new concept at a time when the armed conflict between the government and Maoist guerrillas was at its peak and the country was in an emergency-like situation. The Chulo at Durbarmarga, in the vicinity of the Royal Palace, started serving Nepali and Newari food and delicacies with traditional Nepali cultural dance and folk music representing about 100 ethnic groups from across the country. After a few years, the Chulo shifted to a two-century-old palace in Lazimpat, which houses various embassies, missions, and business and financial institutions.

"It's about creating a synergy among the culture, business, and economy, or you can say we are trying to bring together the food, culture, and hospitality," Shangharsa elatedly shares.

A mini-museum

The Nepali Chulo is more than a restaurant; it’s a mini-museum of Nepali cultural items and artefacts, including musical instruments, idols of gods and goddesses, traditional windows, various replicas, photographs, plaques, and art pieces. The Bista brothers have put great effort into collecting those precious items. They have asked dozens of contractors who would demolish old houses in the Kathmandu valley in order to construct a new one to inform them if the old house has any cultural items like windows, utensils, furniture, and art. If they found any cultural items, they would buy them for the restaurant.

Unlike Chulo, La Bella and Northfield are modern-looking eateries and accommodations. Situated in the bustling tourism zone of Thamel in Kathmandu, they attract foreigners and domestic tourists. Shangharsa is thankful to his parents and family. "I am very lucky to have the love and guidance of my parents and family. Although my parents were with their four children when I went to the USA, they always wanted me back home. This family bond motivated me to stay here and contribute to society and the economy," he said. 

After his marriage to Pratishtha Amatya, a world record holder in memorising random objects, Shangharsa added La Bella Café and Northfield Café to his business portfolio. In later years, the Bista family invested in a couple of other new restaurants and companies. However, currently, they have Northfield Café, Northfield Hotel, La Bella Café, and Nepali Chulo. 

Hard times

"We decided to reduce the number of companies in order to ensure quality service," he said. But he is still astonished about how they could keep the businesses of those companies running during the political and economic crises and pandemic. Armed conflict, an economic crisis created by the earthquake, and the COVID-19 pandemic yielded multiple fatal blows to the hospitality business, while the international scenario has not been fully amicable yet. For him, Nepal is not just a country; it’s a holy land, and soon the environment will be better enough to allow the business to flourish beyond expectations.

According to him, the country needs to pay attention to creating skilled human resources and creating enough opportunities to hold them here. To achieve this target, the business and industrial sectors should flourish, international airports in Bhairahawa and Pokhara should come into operation, and there should be better promotion of the tourism and spiritual attractions of Nepal across the world. "Most of the Chinese think of visiting Lumbini once in their lives, and most of the Indian Hindus think of the pilgrimage to Pashupatinath or Muktinath. We have many attractions to show, stories to tell, and cuisine to offer," he said.

Being hopeful 

Shangharsa is hopeful of a better business environment in the days to come and creating business entities like Nepali Chulo in other cultural and economic hubs like Lumbini and Pokhara. As the president of REBAN, he is working with fellow businesspeople and the government to create a more favourable climate for hospitality and travel business and policy facilitation. However, it is frustrating that the business community has to welcome a new minister every few months and update them about the business. "You have to face and convince multiple ministers while lobbying to enact a policy favourable to business. It causes delay, frustration for entrepreneurs, and loss to the economy," he said.

"However, we never lost hope. When there is darkness, you must realise that there will be a dawn. But only hoping won't bring any result; you must act to ensure the survival of your business and continue with innovation," Shangharsha said while adding that the secret to success in hospitality is to meet the expectations of the customers. A satisfied customer is the best promotion for any business, so Shangharsa is on a mission to create thousands of satisfied customers.

Business over politics

Hailing from a family with high political consciousness, Shangharsa had thought about joining politics a couple of times in the past. The late Rupchandra Bista (Ru Da Ne), initiator and activist of the Thaha Movement, was his uncle. Rupchandra is one of the most highly influential and respected political philosophers in Nepal. 

It is quite interesting that his brothers and family members chose business over politics and achieved success in it. Shangharsa also opted to join business while having high respect for philosophy, courage, altruism, and spirituality.

However, during his youth, he had occasionally been involved in political activities. "There is still an opportunity to join politics, and many of my relatives and friends still suggest I step into it. But I enjoy business and think that I can make better contributions to society and the country from it," he said.

  Published in The Rising Nepal daily's Friday Supplement on 19 July 2024.        

Nepali diplomatic missions fail miserably in maintaining record of strategic information

 Institutional memory is not a priority: Experts

Kathmandu, July 27  

When India unilaterally published its map including Nepali territory in Kalapani region (about 370 square km) in 2019, Nepal reacted strongly and published its map incorporating the region.

Then began the process to reclaim the land encroached by India. But the government-formed task force and independent experts had to struggle hard to find historical documents, past agreements and correspondences.

Cultural expert and historian Professor Ramesh Dhungel, and Cartographer and former Director General of the Survey Department of Nepal, Buddhi Narayan Shrestha, members of the government-formed task force to collect the evidence related to the area, found that the missions of Nepal in London of the United Kingdom and Beijing of China did not have the vital historical documents. There was no system for the institutionalisation and archive of reports, talks and correspondences.

"Failure in the digitalisation of the reports, documents and correspondence at the Nepali missions abroad has created problems from time to time," Prof. Dhungel said.

Hiranya Lal Shrestha, former Ambassador of Nepal to Russia, published 'Sixty Years of Dynamic Partnership', a book on the bilateral relations between Nepal and China, in 2016. Aware of the dearth of knowledge and documents at the Nepali missions and, even the Ministry of Foreign Affairs (MoFA), Shrestha has created a large archive of documents at his personal initiative. He is converting this collection into a library.

For Nepali embassies and missions abroad, creation, management and digitalisation of information is not a priority. According to the diplomats and former ambassadors, for many of them it's not even a job.

Nepal has embassies in 30 countries, permanent missions to the United Nations in New York, Geneva and Vienna, and consulate generals in seven cities of four countries – India, China, the United States of America and Saudi Arabia. But none of them have information archival system. However, in case of the UN, all the documents are available in digital format.

The lack of document becomes evident when the country or scholars need the historical facts or information to prove or straighten them. But the embassies don't have them. The Embassy of Nepal in London, which was the first Nepali diplomatic mission (established in 1934) in any foreign country, lacks the critical historical documents and correspondence.

As a result, researchers, even the government, have to resort to the British Library or India House Library to find what they need.

Prof. Dhungel said that his team couldn't obtain the report of the previous commission. He wonders at the negligence of the government in maintaining institutional knowledge and not learning from the past mistakes.

 

A critical sector

Former Foreign Secretary and Ambassador, Madhu Raman Acharya, said that Nepal couldn't pay much attention to the preservation of the documents including the correspondence. "If the missions haven't maintained the archival system of their documents they should maintain an access to the institutions that possess them," he said.

However, there are also concerns relating to the safety of the historical and critical documents. Acharya maintained that since the documents or information related to the bilateral agreements and correspondence is considered 'sensitive', missions can be conservative about sharing them with the third party.

Embassies also hesitate or deny providing the documents due to the lack of the policy to classify or declassify the documents. This policy facilitates the missions in making decisions about making any document public or maintaining their secrecy.

 

No progress in digitalisation

According to the MoFA, none of the missions abroad has started the digitalisation process. Recently, a researcher couldn't find a historical document related to Nepal-China cooperation at the Embassy of Nepal in Beijing and had to approach Chinese institutions to obtain it.

Digital technology has made document archival easier, reliable and economic. A single hard disk can store a large amount of data and documents. However, the missions have not even taken good care of traditional filing and archiving of the documents.

Cartographer Shrestha couldn't find the required documents in the embassies in New Delhi, Beijing, London and even Washington DC. These are the missions of high strategic importance along with the permanent missions to the United Nations.

"I haven't found any progress in creating an effective document archive or digitalisation of historical evidences at the embassies. It has not been accorded priority from anyone," said Shrestha.

Joint Secretary and Spokesperson of the MoFA, Amrit Bahadur Rai, said that this area in foreign affairs has got the least attention of the government. "There is a general understanding about the need to move beyond the traditional method of filing and management but progress in making reforms is rather slow," he said.

 

Lack of resources

Nepali missions in foreign countries are underfunded which has its repercussions on the management of knowledge. The MoFA has to struggle to obtain the necessary financial resources from the Ministry of Finance (MoF) which has been rather conservative in allocating enough budget to conduct economic diplomacy, promote trade and tourism in foreign markets and create infrastructure and experts for the digitalisation of documents.

Former ambassadors as well as the current senior officials of the MoFA said that the budget allocated for the Ministry and missions is barely enough to meet the general administrative works.

Experts suggested that the MoFA should collaborate with the National Archives and Tribhuvan University Library, and mobilise the Institute of Foreign Affairs to develop skills in archive and digital system.

 

'Documentation Unit' in pipeline

According to Spokesperson of the MoFA, Rai, it is 'shameful' to be unable to find major historical documents. It is the duty of the government, MoFA and Nepali missions abroad.

Meanwhile, the MoFA is planning to create a dedicated 'Documentation Unit' at the ministry. "The Ministry is formulating a new O&M (Organisation and Management) in which the documentation unit is proposed under the general administration," Rai said.

Cartographer Shrestha suggested that along with the documents, reports and correspondences, the embassies should also maintain a library of books written on their respective area or region by any Nepali or foreign writers.  He said that it's not only the lack of resources that is hindering the information archival but also the lack of knowledge and vision in the diplomats and leaders.

"It is disappointing not to find even the basic documents on bilateral correspondence at the embassies," said Professor Dhungel, "The same person who went through multiple hardships in documentation when he was officer at a mission didn't do anything to facilitate it when he became the secretary."

 

Culture of complacency

Former Ambassador Acharya said that there is lack of accountability, practice and realisation in creating records, maintaining archives and digitalising them.

"The entire system has long been plagued by a culture of complacency," he said. "It has been observed that neither the political leadership asks for the past correspondence or 'records of talks or discussions' nor the missions prepare and provide it to the leaders."

The government should pay heed to preserve the documents that have high 'utility value'. Other countries maintain the records of every bilateral or multilateral talks or discussions so that they could be used in the future negotiations or dialogue.

Acharya said that missions of other nations keep the records of negotiations and explanations of bilateral and multilateral treaties. These documents could be critical for future negotiations.

However, because of high sensitivity, classified documents or treaties should be kept by the government or the MoFA.

Former Ambassador Shrestha had established a library at the Embassy of Nepal in Moscow. "This should be replicated in all Nepali missions worldwide," he said. "Failure to create an institutional memory and maintain authentic chronological record of activities and correspondence is 'unfortunate'. The MoFA should take immediate steps to rectify it."

  Published in The Rising Nepal daily on 27 July 2024.        

PM, DPM hail monetary policy

Kathmandu, July 26

Prime Minister KP Sharma Oli has said that the Monetary Policy of the current Fiscal Year 2024/25 has well received by the market.

 "It is good to have this support. We now have to work with a greater speed and increase the capacity of all Nepali people," he said while administering oath to the newly appointed officials of the National Planning Commission (NPC), including Vice Chairman Shiva Raj Adhikari on Friday.

Meanwhile, Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel said that the Monetary Policy would help address the existing problems in the country's economy.

"The Monetary Policy has come flexibly to help solve the problems seen in the economy. It will help expand credit and increase investment in the production sector," DPM Paudel said in a meeting with the Governor of the Nepal Rastra Bank (NRB), Maha Prasad Adhikari.

He also expressed his belief that the Policy will facilitate solving the problems of private sector industrialists and increase morale for further investment.

Meanwhile, the Nepal Chamber of Commerce (NCC) said that the NRB had introduced a comparatively cautious and flexible monetary policy for the current financial year.

It said that the reduction in the bank and policy rates would facilitate in bringing down the interest rates. It also appreciated the measures announced to support the construction business and increment on foreign currency exchange facility on draft/TT while importing goods. The limit is raised to US$50,000 from the existing $35,000.

The NCC also said that the reduction of the existing 1.20 per cent loan loss provision for good loans to 1.1 per cent is positive.

 Published in The Rising Nepal daily on 27 July 2024.        

Flexible policy to support private sector, economic growth

 Kathmandu, July 26

The Nepal Rastra Bank (NRB) has unveiled a 'cautiously flexible' Monetary Policy for the current Fiscal Year 2024/25, removing the ceiling of margin lending for institutional investors and promoting private sector lending.

The Monetary Policy made public on Friday has announced a reform on stance on real estate lending, loans to Small and Medium Enterprises (SMEs) and laws on cheque dishonour. However, it has maintained that lending to the manufacturing sector would be promoted and the quality of loans would be improved to maintain financial stability.

The Board of Directors of the NRB approved the policy on Friday morning. Earlier, the policy was scheduled to publish last week but it was delayed amidst the recent change in the government.

The NRB said that the inflation would be contained at 5.0 per cent and the monetary expansion would be made in a way that would not pressurise the price of goods and services in the market. This target does not look risky considering the average inflation of 5.62 per cent in the 11 months of the last Fiscal Year 2023/24 and 4.17 per cent year-on-year basis in mid-June 2024 against the annual target of 6.5 per cent.

Announcing the Policy, Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, termed it as the 'Monetary Policy with caution' as it would offer the final facilitation to the businesses and financial sectors that were impacted by the COVID-19 pandemic.

"We have made arrangements to monitor the impact of each measure adopted by the Monetary Policy for this fiscal," he said, stressing that the measures adopted by the Policy would be fully implemented.

According to Governor Adhikari, the central bank has planned to implement reforms in a few key areas that will help in the business and economic growth.

"If we try to control everything through the monetary policy, it will create multiple problems. The main aim of this year's Monetary Policy is to create interest rate stability, create an investment environment and facilitate the business. It tries to create the base for the mobilisation of the deposits in loans," he stated.

 

Limit for Margin Lending Removed

Although the NRB has granted consent to 34 securities brokerage companies to mobilise margin lending with the aim of reducing the direct loan investment from Banks and Financial Institutions (BFIs), it has continued with the loan against the securities for the institutional investors. It removed the existing limit of a maximum Rs. 200 million for margin lending.

"In the situation where margin trading cannot be done easily and systematically, the existing maximum limit of Rs. 200 million for the loans provided by the BFIs in margin securities for institutional investors established with the main purpose of investing in the capital market will be abolished," read the Policy.

Likewise, the existing credit notification and blacklisting directives will be revised to amend the arrangements such as blacklisting based on check dishonour and banning banking transactions.

In order to facilitate enterprise development in areas like industries that support agriculture, information technology and tourism, the provision of not charging more than a 2 per cent premium on the base rate for SMEs of up to Rs. 20 million will be reviewed to expand the facility in those areas.

 

Forex Reserves for Seven Months

Similarly, the Monetary Policy for this year aims at maintaining the foreign exchange reserves sufficient to cover the import of goods and services for seven months.

The monetary policy of the FY 2023/24 aimed at maintaining foreign exchange reserves sufficient to support at least seven months of goods and services imports, and the foreign exchange reserves maintained in mid-June are sufficient to support 12.6 months of goods and services imports.

Likewise, the portfolio size for the real estate is increased to Rs. 25 million from Rs. 20 million.

The new Monetary Policy has said that mergers and acquisitions between microfinance financial institutions (MFIs) and their branches will be encouraged. According to it, to address the complaints related to the services of MFIs, necessary regulatory arrangements will be made on the basis of international best practices to protect customer interests. The interest rates of the MFIs will also be reviewed.

"Arrangements will be made to reschedule the loan by paying a certain percentage of interest to microfinance customers who are unable to pay the loan due to various circumstances," read the Policy.

Similarly, facilitation will be made in the existing arrangement related to foreign exchange facilities available through passports.

 

Asset Management Company in the Offing

The central bank also plans to formulate a draft of the Asset Management Act and submit it to the Government of Nepal to establish an Asset Management Company to manage the non-banking assets of the BFIs. Necessary infrastructure and institutional structure will be prepared for the full operation of the National Payment Switch.

According to Governor Adhikari, a new arrangement will be made so that the organisations that perform payment, clearing and settlement activities should be public limited companies.

He said that a guideline would be prepared to minimise the risks of Artificial Intelligence in the financial sector. The central bank will also coordinate with the government to create a mechanism for the regulation and monitoring of the saving and credit cooperatives organisations.

The Monetary Policy has also addressed the programmes announced by the government through the budget of the current FY 2024/25. They include loans against the collateral of agricultural produce, promotion of innovation, loans to the migrant workers based on the assurance of sending remittance to the bank account, and increased facilitation for the entrepreneurship loan.

 

Bank/Policy Rates Go Down

Through the Monetary Policy, the central bank has brought down the bank rate to 6.5 from the existing and policy rate to 5 per cent from 5.5 per cent.

Governor Adhikari said that while the inflation is contained, the external sector has remained strong and interest rates on deposits and lending are going down owing to the excess liquidity in the banking system in the country, the below-target performance of the government revenue and expenditure, low expansion of banking sector lending, and increased non-performing loan portfolio has remained major challenges.

By mid-June 2024, the annual growth rate of loans flowing from the BFIs to the private sector was 5.6 per cent. At the same time in 2023, the growth rate of such loans was only 3 per cent. The NRB maintained that the credit expansion has been slow since the capital expenditure cannot be performed on time, the economic growth rate is low, economic activities are not improving as expected and the private sector is already heavily indebted.

"Even when the interest rate of loans is low, if there is no significant improvement in domestic demand, it will be difficult to improve loan demand only through monetary policy. When more efforts are made to expand the overall demand of the economy through monetary easing, financial stability may be at risk if there is no improvement in the real sector accordingly," read the policy. 

----

New Provisions for Construction Industry:

(a) Extension of interest payment period of the loans given to the construction businesses till mid-December 2024.

(b) No blacklisting of construction businesses on the basis of cheque dishonour unless there is another provision regarding credit notification.

(c) Separate arrangement regarding the limits of credit rating when using off-balance sheet facilities from banking facilities and loans taken for construction business.

(d) Maintaining the loan classification and loan loss system for the loans created by claiming the guarantees of builders for the FY 2024/25 from the date of loan creation, similar to other loans.

(e) Banking operation of the partners of a joint venture company will not be affected if a partner is blacklisted by a BFI.

(f) Arrangements will be made to renew the guarantee provided by the BFIs in case of renewal of the construction period by the Government of Nepal.

 

New Provisions for the BFIs:

(a) Encouraging the use of capital funds and other equipment.

(b) Reducing the existing 1.20 per cent loan loss provision on good loans and to 1.10 per cent.

(c) Reviewing the provisions related to risk weightage for loan purchase and sale.

(d) Increasing the limit of the existing Regulatory Retail Portfolio to Rs. 25 million from the current Rs. 20 million. 

 Published in The Rising Nepal daily on 27 July 2024.        

FNCCI organises training on care economy

Kathmandu, July 24

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has organised an employer training on the relevance of the care economy.

The private sector employer training on the relevance of the care economy, organised in collaboration with the International Labour Organisation (ILO), began on Wednesday in Dhangadhi, Kailali. The three-day training will run from Wednesday to Friday, the FNCCI informed in a statement on Wednesday.

The training has been organised by the FNCCI Far-Western Province under an agreement between the ILO's 'Empowered Women, Prosperous Nepal' project and the FNCCI Kathmandu.

Astha Bhatta is the lead trainer for the three-day training.

Kamala Shrestha, a central member of FNCCI and convener of the federation's Women Entrepreneurship Development Committee, said that the care economy is now a serious matter for the government and the private sector and that it is necessary to formulate a necessary procedure for it. She said that it was necessary to make the care economy a national issue and that the private sector was ready to facilitate and provide necessary support for it.

A total of 30 people from the Sudurpashchim Province, including industrialists, businesspeople, government and non-government representatives, are participating in the three-day training. Pramod Bhattarai, Secretary of the Ministry of Industry, Tourism, Forests and Environment, Gagan Dev Bhatta, Acting Secretary of the Ministry of Social Development, and Padamraj Chaulagain, member of the FNCCI Sudurpashchim Province Executive Committee had talked about the importance of care economy. 

 Published in The Rising Nepal daily on 25 July 2024.        

Government to find solutions to the growth obstructions

Kathmandu, July 19

Deputy Prime Minister and Minister for Finance, Bishnu Prasad Paudel, stated that the government is solution-oriented and would address problems one by one according to their need and priority.

"We are trying to convince the business community and the public that the government is finding solutions to their problems, including those obstructing economic growth," he said during an interaction with the Nepalese Association of Financial Journalists (NAFIJ) at Singhadurbar on Friday.

Acknowledging that there are several problems to be resolved and that business confidence has eroded, DPM Paudel urged everyone to have patience until the government finds and implements better solutions. "Demand has significantly decreased, and industries are operating at less than one third of their total capacity. People's purchasing power has weakened," he noted, adding that one should remain hopeful as hope is fundamental to social harmony and future progress.

DPM Paudel emphasised that the government cannot spend much due to limited resources, making it necessary to be more cautious in resource allocation. He asserted, "This is the most stable government that could be envisioned from the structure of the current parliament."

In response to journalists' queries about the Ministry of Finance's intervention in the Monetary Policy for the Fiscal Year 2024/25, he maintained that the government had no intention of interfering with the works and processes of the Nepal Rastra Bank.

Furthermore, DPM Paudel mentioned that resolving the issue of COVID-19 insurance payments is a pending agenda for the government and that a solution would be found soon. He acknowledged that delays in the payment of COVID-19 and agriculture insurance have created a negative perception of insurance among the public.

Expressing frustration over the losses incurred by lucrative businesses like the Dairy Development Corporation and Udayapur Cement, he questioned, "How could the cement factory, which has the best raw materials and swift sales, and the dairy company, with higher demand than supply, go into loss?"

He criticised the Dairy Development Corporation for receiving financial support from the government and using it for various purposes without clearing dues to farmers. "We need to correct such practices to support farmers and find remedies for the problems in cooperatives," he stated.

 Published in The Rising Nepal daily on 20 July 2024.        

Kikuta calls on FM Rana

Kathmandu, July 23

Kikuta Yutaka, Ambassador of Japan to Nepal, paid a courtesy call on Dr. Arzu Rana, Minister for Foreign Affairs of Nepal, at the latter's office in Singha Durbar the other day.

On this occasion, Ambassador Kikuta handed the copy of the congratulatory letter from Kamikawa Yoko, Minister for Foreign Affairs of Japan, to FM Rana, Embassy of Japan in Kathmandu said in a statement.

FM Rana and Ambassador Kikuta exchanged their views on the various aspects of the bilateral relations, including economic cooperations, investment and people-to-people exchanges.

Ambassador Kikuta pointed out that the year 2026 would be important for both countries as it would be a year for Nepal to graduate from the Least Developed Country (LDC) as well as the 70th anniversary of establishment of Japan-Nepal diplomatic relations.

FM Rana and Ambassador Kikuta agreed to further cooperate to strengthen and deepen the friendly relationship between Japan and Nepal to celebrate the upcoming commemorative year.

Published in The Rising Nepal daily on 24 July 2024.        

Nepal seeks preferential trading facility from China

 Kathmandu, July 24

Foreign Secretary of Nepal, Sewa Lamsal has said that China should give priority to providing preferential trading facilities to Nepali products amidst the existing huge trade deficit between the two countries.

"Nepal appreciates China for providing duty-free quota-free access to more than eight thousand Nepali products. However, a huge trade deficit exists. There is a need to consider the matter with priority for providing wider preferential trading facilities to Nepali products," she said while addressing the fifth China-South Asia Cooperation Forum in Kunming, China, on Wednesday.

The trade gap between the two neighbours is astonishingly high with Nepal having a negligible export. China is the largest source country of Foreign Direct Investment in Nepal and the second largest trading partner.

In the last Fiscal Year 2023/24, Nepal exported goods worth Rs. 258.8 million to China but the import size was Rs. 298.77 billion.

According to Lamsal, a large number of Chinese tourists visit Nepal every year. "We are jointly celebrating Visit Nepal year 2025 in China on the happy occasion of the 70^th anniversary of the establishment of the diplomatic relations between Nepal and China," she said while inviting Chinese people to visit Nepal

She also said that since Nepal is set to graduate from the Least Developed Country (LDC) status by 2026, Nepal needs enhanced and commensurate levels of resources and technology in its development efforts during and after graduation.

Lamsal expressed her confidence that Nepal would receive more cooperation in the areas of trade, investment, infrastructure development and technology transfer, from the development partners, including China.

She termed the forum an important platform for intergovernmental and high-level policy dialogue and maintained that it has significance in garnering collective synergy for the enhanced level of economic and trade cooperation as well as people-to-people exchanges in South Asia region.

According to her, the Forum including the expo can play a key role in promoting cooperation in the South Asia region which treasures huge development potential in the region and beyond.

"The China-South Asia partnership is about connectivity, prosperity and future outlook that is instrumental to narrow down the gaps and deepen the mutual understanding and cooperation," said Lamsal.

The Forum has not only provided important opportunities for the producers and consumers to be closer to each other for their mutual benefit but also created an opportunity to bring both governments and private sectors from the region to one place to work for mutual benefits, she maintained.  

Foreign Secretary Lamsal also expressed Nepal's desire to work with the Government of China to further elevate cooperation in areas such as trade, tourism, investment, education, culture, and people-to-people exchange.

Meanwhile, she expressed Nepal's confidence in further strengthening the relations with China in multiple areas of cooperation in future.

"The Government of Nepal attaches great significance to the Memorandum of Understanding on strengthening the development Cooperation in Building the Trans-Himalayan Multidimensional Connectivity Network," she said. 

 Published in The Rising Nepal daily on 25 July 2024.        

Foreign Secretary Lamsal leaving for Kunming

 Kathmandu, July 21

Foreign Secretary, Sewa Lamsal, is leaving for Kunming, China, on Monday to attend the 5^th China-South Asia Cooperation Forum.

According to the Ministry of Foreign Affairs (MoFA), the Foreign Secretary will deliver a Keynote Speech at the Forum on July 24.

Lamsal will hold bilateral meetings with high-level dignitaries on the sidelines of the Forum.

She will leave Kunming for Kathmandu on July 27.

 Published in The Rising Nepal daily on 22 July 2024.        

Govt to focus on building confidence of the private sector

Kathmandu, July 17

The newly appointed Deputy Prime Minister and Finance Minister, Bishnu Prasad Paudel, has said that the government will focus on building the confidence of not only the common people but also of the private sector.

In a meeting with the delegation of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) at the Ministry of Finance (MoF) on Wednesday, Deputy Minister Paudel said that many problems in the economic sector needed to be addressed, but the most important thing was to build the confidence in the private sector.

He asked the industrialists to conduct business confidently. Stating that he was aware that the market demand was decreasing along with production and export, he said that such problems would be solved.

DPM Paudel reiterated that the government was committed to solving all the problems, be it the problem of the dedicated feeder and trunk lines or the delay in the payment to the contractors.

Speaking on the occasion, President of the FNCCI, Chandra Prasad Dhakal, emphasised that the economy was currently in trouble and the morale of the private sector should be increased to revive the economy.

He said that cooperation between the government and the private sector was necessary to improve the economy.

Dhakal told the DPM Poudel that there was no coordination between the economic agencies and that an Economic Reform Commission or some other mechanism with the participation of the private sector was needed to bring the economy back on track.

He also asked the DPM to solve the problems of the dedicated feeder and trunk lines at the earliest. According to him, this problem has greatly affected the industry, and as a result, productive activities have shrunk.

Dhakal stated that the economic contraction had also affected job creation in the country. The data of the Nepal Rastra Bank shows that the inflation has dropped to 4.17 per cent, but in reality, it has been increasing at the rate of 7 per cent since the COVID-19 pandemic, he said. He urged Minister Poudel to come up with a policy to help increase market demand by increasing economic activity.

"Even though the loan interest rate has gone down, industrialists and entrepreneurs do not want to invest. Therefore, the money that has entered the country through remittances has accumulated in banks and financial institutions. It shows that a low interest rate alone is not an incentive for investment," he said.

Dhakal told DPM Paudel that not only established businessmen are afraid to invest but also new entrepreneurs are apprehensive of it. He urged Minister Paudel to make policy reforms and create an investment-friendly environment.

 Published in The Rising Nepal daily on 18 July 2024.        

Kushal becomes NYEF President

 Kathmandu, July 21

Kushal Sundar Shrestha, has been appointed as the President of the Nepal Youth Entrepreneurs’ Forum (NYEF). He was serving as the Senior Vice-president of the organisation.

Nivita Pradhan assumed the position of the First Vice President, and Abhushan Jyoti Kansakar the Second Vice President. Reecha Shrestha has been appointed as Vice President for Women.

NYEF serves as the youth wing of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI).

The new executive committee includes Sudip Ghimire, Krishna Sapkota, Pavitra Bahadur Gautam, Bilasha Shrestha, Yunesh Raj Shrestha, and Subin Shrestha. Sahara Joshi, Immediate Past President, continues as an Ex Officio member in the new committee.

Selected based on key performance indices (KPIs), the new team will serve a one-year term. The newly appointed leadership and members took their oath of office and secrecy during the inaugural session of the 20^th Annual General Meeting held in Kathmandu on Friday evening. Minister for Industry, Commerce and Supplies, Damodar Bhandari and President of the FNCCI, Chandra Prasad Dhakal were present on the occasion.

President Shrestha expressed commitment to ensuring every NYEF initiative, programme, and activity maximizes benefits for its members, supporting personal and professional growth. Priority areas include networking, learning and development, growth, promotion, and branding.

The new committee plans to implement a buddy system, mentorship programme, mini-olympics, entrepreneurship meets, sportsmanship events, a motor rally to Manang, and international trips. 

NYEF has 13 chapters across different locations in Nepal and more than 850 members. Its members have created around 30,000 job opportunities across the country. 

Published in The Rising Nepal daily on 22 July 2024.        

Nepal, Kiribati establish diplomatic relations

Kathmandu, July 18

Nepal and the Republic of Kiribati have established diplomatic relations. With this, the number of countries with which Nepal has diplomatic relations reached 183.

Ambassador/Permanent Representative of Nepal to the United Nations Lok Bahadur Thapa and his Kiribati counterpart Teburoro Tito signed a joint communiqué to this effect in a brief ceremony held at the Permanent Mission of Nepal in New York on Wednesday, July 17.

They also signed a joint letter informing the Secretary-General of the United Nations, António Guterres, about the establishment of diplomatic relations between the two countries, the Mission informed in a statement.

"On the occasion, both the ambassadors exchanged views on various matters of common interest to strengthen bilateral cooperation in national and international forums, especially at the UN forums for the mutual benefit of the two countries, including the issues of least developed countries," read the statement.

Kiribati (pronounced Kiribas), which is located in the central Pacific Ocean, gained independence on 12 July 1979 from Britain. It has a total land area of 811 square kilometres with a population of over 120,000 people.

Kiribati became a member of the UN on 14 September 1999.

Both Nepal and Kiribati are members of G77 and China and the Least Developed Countries.

Published in The Rising Nepal daily on 19 July 2024.        

Nabil, Ncell sign agreement for digital transaction services

 Kathmandu, July 25

Nabil Bank and Ncell have signed an agreement to provide digital transaction services.

With the agreement, Ncell's existing and non-current customers will now get the facility of real-time payment through Nabil Bank's payment gateway using Visa and MasterCard while purchasing SIM and data.

Nabil Bank app users can also purchase Ncell services through the NBank app, the bank informed in a statement on Friday.

Chief Executive Officer of the bank, Gyanendra Prasad Dhungana and CEO of Ncell, Jabar Keyomov, signed the agreement.

Dhungana said that this agreement will contribute significantly to Nepal's digital journey as the customers will get special benefits from this collaboration.

Similarly, Kayomov said that this facility will be improved in the future.

Nabil Bank has been providing services to more than 2.4 million customers through 268 branches and 316 ATMs. 

Published in The Rising Nepal daily on 26 July 2024.        

WFP and LCIF announce $4 million for school feeding programme

Kathmandu, July 18

The World Food Program USA and Lions Clubs International Foundation (LCIF), the charitable arm of the Lions International, have announced a US$ 4 million partnership in support of the United Nations World Food Programme’s (WFP) Homegrown School Feeding (HGSF) Programme in four countries, including Nepal.

Both organisations are contributing USD $2 million each to the project. In Nepal, this grant will support the Government's School Feeding Programme (Mid-Day Meal Programme). This initiative will benefit approximately 90,000 students from grades 0-5 across 800 schools in the Surkhet and Jajarkot districts of Karnali Province.

"With support from LCIF and WFP USA, we are working to ensure regular access to nutritious and sufficient food for children in Nepal and people around the world," President of the Lions Clubs International, Fabrício Oliveira, said in a programme organised in Kathmandu on Thursday to announce the support.

According to the organisers, HGSF Programmes are a multisectoral game changer that have proven over decades to improve children’s education, health, and nutrition. When integrated into the local community, school meals benefit the entire community by providing an important safety net and by strengthening food systems and economies. "By further integrating with local small-scale farmers, local economies benefit, and a better-designed food system is created that also leads to impacts across gender, climate, and sustainability," read a statement issued by the WFP.

“Through homegrown school feeding, we are not only serving nutritious meals that are fresh from the farm to plates but also supporting local farmers and strengthening the community food system. I am confident that it will be catalytic in strengthening the home-grown school feeding approach in Karnali,” said WFP Nepal's Country Director, Robert Kasca.

WFP is the world’s largest provider of school meals, working with communities, governments, and private sector partners to ensure that all primary schoolchildren have access to good quality meals in schools. As part of this collaboration, WFP is engaging with Lions Clubs members in the region. Hunger is one of Lions International’s eight global causes. LCIF is the global foundation supporting the 1.4 million members of Lions Clubs International through grant funds that expand their compassionate works and empower their service at home and around the world. Since its founding in 1968, LCIF has awarded more than 20,000 grants totalling nearly US$1.3 billion, improving health and well-being, strengthening communities, and supporting those in need locally and globally.

Published in The Rising Nepal daily on 19 July 2024.        

CIT announces 1.25% extra interest for retirement scheme

Kathmandu, July 16

The Citizen Investment Trust (CIT) has announced to offer 1.25 per cent extra interest in addition to the regular interest to the participants of the Employee Savings Growth Retirement Fund, from the profit of the Fiscal Year 2023//24. The board of directors of the CIT has already approved the scheme.

The participants will get the reward in their balance up to the end of March 2079. According to Uddhab Silwal, Information Officer of the Trust, about Rs. 1.66 billion will be distributed to about 350,000 participants of the retirement scheme.

The CIT said that the interest rate has changed from Tuesday, July 16 (the first day of the FY 2024/25). According to the changed interest rate, the participants of the Employee Savings Growth Retirement Fund will get 6.50 per cent interest. 

The interest rate of 80 per cent of the loan amount of this scheme – borrowing from the CIT - has been fixed at 8 per cent. Earlier, its interest rate was 8.5 per cent.

The interest rate on the institutional side of the Citizen Unit Scheme is 7 per cent and 7.50 per cent on the individual side. 

Similarly, the interest rate has been fixed at 5.50 per cent for gratuity and pension schemes, 5.50 per cent for investor retirement fund schemes, 6 per cent for national insurance funds and 5.50 per cent for national civil servants' life insurance funds.

Likewise, loan interest is set at 8.50 per cent for educational loans, 8.50 per cent for housing loans, 9 per cent for simple loans, and 9 per cent for vehicle loans. 

Earlier, the interest rates were 9.50 per cent for educational loans, 9.50 per cent for housing loans, 9.50 per cent for simple loans and 9.50 per cent for vehicle loans.

The fund reviews the interest rates offered and charges to the participants every quarter.

Published in The Rising Nepal daily on 17 July 2024.        

STLRP receives PATA Gold Award again

Kathmandu, July 23

The Sustainable Livelihood Restoration Project (STLRP) run by the Nepal Tourism Board in collaboration with the United Nations Development Program (UNDP) has received the Pacific Asia Travel Association (PATA) Gold Award for the third time.

According to the PATA headquarters, the project has received the PATA Gold Award for 2024 in the Community-Based Tourism category.

The project has received this award for its contribution to the creation of employment in tourism and increasing the capacity for sustainable tourism development by building tourist destinations in various locations. The creation of new tourism destinations was done in collaboration with seven provinces, 58 districts and 85 town/village municipalities of Nepal.

Earlier, in 2022 and 2023, the STLRP project received the (PATA) Gold Award. The project received PATA Gold Award in 2023 for its initiatives in women empowerment through tourism, sustainability and social responsibility and in 2022 under Tourism Destination Resilience category.

Nandini Lahe Thapa, Acting CEO of the NTB, said that the project has continuously received the award which has motivated the team to perform even better.

Shraddha Shrestha, manager of the NTB and National Programme Coordinator, informed that the project created short-term jobs for around 10,000 tourism workers and conducted capacity-building training for 4,000 people after the COVID-19 pandemic.

During this period, the project created river guides for women, the trekking guide for sexual minorities, and a tourism strategy for 150 municipalities in all seven provinces. 

Published in The Rising Nepal daily on 24 July 2024.        

Chandra Dhakal elected HCCN Dean

Kathmandu, July 24

Chandra Prasad Dhakal, Honorary Consul of Indonesia to Nepal, is elected the new Dean of the Honorary Consul Corps Nepal (HCCN).

The 17^th Annual General Meeting of the HCCN held at Hotel Marriott Kathmandu on Tuesday elected Dhakal the leader of the organisation. Dhakal is the Chairman of the IME Group and President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).

Outgoing Dean Vishnu Agarwal handed over the deanship and organisation's logo to Dhakal, marking a smooth transition in leadership.

With 62 Honorary Consuls/Consul Generals representing countries without residential diplomatic missions in Nepal, HCCN plays a pivotal role in promoting economic, cultural, and diplomatic ties between Nepal and these nations, the organisation said in a statement on Tuesday.

Speaking at the programme, Minister for Foreign Affairs, Arzu Rana Deuba, acknowledged the significant contributions of Honorary Consuls and Consul General in enhancing Nepal's international relations. She emphasised the importance of economic diplomacy in attracting foreign investment from the represented countries.

Outgoing Dean Vishnu Kumar Agarwal underscored the values of service, volunteerism, and goodwill that define HCCN's initiatives.

Likewise, Dhakal pledged to strengthen partnerships with the Ministry of Foreign Affairs to capitalise on emerging opportunities for Nepal's economic growth and development.

"I assure you the HCCN will actively lobby for increased FDI and the signing of Bilateral Investment Agreements (BIAs) with as many countries as possible. Our efforts will bring substantial investment into Nepal and contribute to our nation’s economic growth," he said.

According to him, by attracting FDI, the country brings in capital, expertise, technology and global best practices. 

Published in The Rising Nepal daily on 25 July 2024.        

Year after year, development expense remains meager

Kathmandu, July 23

Use of development budget in Nepal has remained meagre for the last five years as it remained below two-third of the total allocation. 

In the same line, in Fiscal Year 2023/24 - which ended on July 16 - only 63.5 per cent capital budget could be utilised, according to the country's economic status report released by the Ministry of Finance (MoF) on Tuesday.

The figures are discouraging given the demand for  development amidst the government's inability to mobilise the funds for the same.

Last year, then Finance Minister Dr. Prakash Sharan Mahat had allocated only Rs. 302.7 billion (17.25 per cent) of the Rs. 1751.31 billion budget for development sector.

But the government was able to  mobilise only Rs. 192.21 billion.

This is a negative growth by 18.3 per cent compared to the previous FY 2022/23 when the government had utilised Rs. 234.62 billion of the Rs. 380.38 billion capital allocation.

Likewise, total capital expenditure stood at 61.7 per cent in the FY 2022/23, about 57.2 per cent in 2021/22 and 64.8 per cent in 2020/21 while it remained all time low in 2019/20 with just 46.3 per cent mobilisation.

The government could achieve above 80 per cent utilisation of the budget allocated for development works only once in the last decade.

In Fiscal Year 2017/18, the government was able to mobilise 80.8 per cent of Rs. 335.27 billion capital allocation which has remained all-time high for the decade. The size of the annual budget of that year was Rs. 1279 billion. Rs. 803.5 billion was allocated for recurrent expenditure. That year also witnessed a better mobilisation of recurrent expenditure as well with 85 per cent utilisation .

Similarly, total expenditure of the federal government has remained below 86 per cent of the total budget in the last one decade.

 

Revenue collection below 75%

Meanwhile, although there was a slight improvement, revenue collection remained below three-fourth of the annual target. In the last FY, the government was able to collect Rs. 1058.9 billion revenue which was 74.4 per cent of the annual estimates of Rs. 1422.54 billion.

However, in terms of collected amount, this is 10.6 per cent growth compared to the previous fiscal 2022/23. That year, the government collected Rs. 957.35 billion in revenue against the target of Rs. 1403.15 billion.

Likewise, the gap between the federal income and expenditure has remained wide, for example last year, total income could cover only 70 per cent of the Rs. 1409 billion expenditure.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel said last week that political instability had its toll on the budget performance of the government. Last fiscal witnessed three finance ministers. Dr. Mahat announced the budget but Barsaman Pun was in the helm to mobilise it at the crucial second half of the year. Likewise, Dr. Mahat designed the policy for the current year's budget, Pun formulated it and DPM Paudel is executing it.

According to the economists, during the times of instability, political leadership as well as bureaucracy prefer to perform casually and hesitate to take decision that would make an impact in the long run.

Former Member of the National Planning Commission, Dr. Ramesh Chandra Poudel, had said with The Rising Nepal earlier that poor planning, lack of coordination among the development agencies and lack of project preparedness were the major reasons behind the poor utilisation of development budget.

 

Average growth rate 4.23%

The MoF said in its report that low growth of the economic sector, low saving, consumption and investment growth rate, inability to mobilise financial sector funds to the manufacturing sector, high import/export ratio, unstable and poor economic growth and high migration from hills and mountains to Tarai are the major challenges to the national economy.

Due to these reasons, the country's average economic growth rate in the last 48 years is just 4.23 per cent. The national economy is marred by challenges like low productivity, less-effective capital expenditure, poor export trade, import-based revenue, poor domestic saving, high liability of payment, low fiscal space for infrastructure investment, growing social security expenditure and growing size of public debt.

The MoF has said that it would work to increase  demand, make  public expenditure rational and effective, enhance  capacity to mobilise capital budget, create investment environment, minimise  fiscal risk, develop quality road network and connect agricultural produce with the market. 

Published in The Rising Nepal daily on 24 July 2024.        

Eight music talents feted with Chhinnalata Award

Kathmandu, July 17

Chhinnalata Geet Puraskar Guthi has awarded eight talents from the music sector.

At a programme organised in Kathmandu to mark the 102^nd Chhinnalata Day and 42^nd Prize Distribution Ceremony, Prime Minister KP Sharma Oli and Trustee of Guthi, Joyti Rajya Laxmi Shah, felicitated the winners with a cash prize of Rs. 100,000 each and a plaque.

The organisation distributed the prize for the last two years – 2079 BS and 2080 BS.

Lyricist Bhushan Kharel, musician Manu Raja Nakarmi, and singer Shiva Pariyar won the prize in lyrics, music and singing for 2079.

Singer Menuka Poudel won the youth talent award for the same year.

Likewise, lyricist Birendra Pathak, musician Chandi Prasad Kafle, and singer Manila Sotang received the awards for best lyrics, music and singing respectively for 2080. Singer Bhupu Pandey received the youth talent award for the same year. The awards were conferred by PM Oli and Trustee of the Guthi, Pragya Rajeshwori Shah.

Speaking on the occasion, PM Oli said that Nepal was the land that immensely contributed to the development of art, culture, music and song.

This is the land of knowledge and its dissemination had started from here, he said while adding that the Richas of Vedas were written here. "This is the land of Shiva, Kapil Muni, Bramharshi Kaushik, Shushrut and many more. Music and songs originated from this holy land," he stated.

He appreciated Chhinnalata Geet Puraskar Guthi for finding the talents and awarding them, thus inspiring many talents.

Lyricist and former Secretary of the Government of Nepal, Dinesh Hari Adhikari, said that there was a need for a national level music institution to promote national and indigenous music and songs.

Trustee of the Guthi, Prof. Dr. Bashudev Tripathi, highlighted the contributions of Chhinnalata (Ramola Devi Shah) in lyrics and literature.

Chhinnalata was a renowned song writer of her era. The Guthi has so far awarded 190 talents from seven categories – lyrics, music, singing, youth talent, special felicitation, Chhinnalata felicitation and music composition.

The Guthi started distributing awards since 2039 BS. 

Published in The Rising Nepal daily on 18 July 2024.