Infrastructure Summit stresses development issues

 Kathmandu, Sept. 14: 

The Nepal Infrastructure Summit 2024 concluded in the Capital on Friday with extensive deliberations on cross-cutting issues of development including energy and water resources, digital and information technology, transport infrastructure construction, urban development and waste management. 

The two-day flagship summit jointly organised by the Confederation of Nepalese Industries (CNI) and Ministry of Physical Infrastructure and Transport (MoPIT) also dealt with the issues of provincial and local governments' development engagement and role of women. 

Addressing the closing programme of the event, former Prime Minister and Chairman of CPN (Maoist Centre) Pushpa Kamal Dahal Prachanda said that the development of physical infrastructure was indispensable for the overall economic development of Nepal. 

Stating that various laws related to business and investment were amended and formulated during the Investment Summit earlier this year to make the investment environment better in Nepal, Prachanda urged the investors from Nepal and abroad to make investment in infrastructure. 

He termed the organisation of the summit as a creative and constructive move to contribute to the nation's development and economy and expressed his belief that the Government of Nepal will accept the suggestions made in the conference and implement the reforms accordingly. 

The Summit was coorganised by the Investment Board of Nepal (IBN) and Youth Community for Nepalese Contractors (YCNC). 

Rajesh Kumar Agrawal, President of CNI, informed that the suggestions regarding the importance of strategic investment to advance the sustainable development of Nepal would be provided to the government. 

"Models of infrastructure development, identification of practical aspects that can be implemented in Nepal and the steps to be taken to ensure that our infrastructure projects are not only economically but also socially and 

environmentally sustainable, were clearly suggested during the summit," he said. 

Likewise, Secretary of the MoPIT, Keshab Kumar Sharma, said that the infrastructure conference received important suggestions from foreign and domestic experts on Nepal's infrastructure development. He expressed his commitment to accept the suggestions made in the conference and take the necessary steps for their implementation.

Earlier, discussing the energy sector development in Nepal, stakeholders said that the country had made a tremendous progress in clean energy, investment has gone up and use has increased. 

While private sector played an instrumental role in this drive, they are still facing challenges at various fronts. The electricity bill is stuck at the parliament while there are multitudes of problems in cutting trees and land acquisition at the development site, said energy entrepreneurs, Kumar Pandey. 

Experts suggested the government focus on reservoir-based hydroelectricity projects for the seamless supply of quality energy. They also said that it is still challenging to manage investment for the government target to develop projects generating 28,500 megawatts of electricity by 2035. 

However, Ganesh Karki, President of Independent Energy Producers Association of Nepal (IPPAN), said that there were opportunities in Nepal's energy sector, from capital investment to production of necessary machinery.

"Generating 28,500 megawatts would require an investment of Rs. 4600 billion, and accordingly, there would be great opportunities for other businesses that are connected with it," he said. 

Former joint-secretary, Keshab Dhoj Adhikari, informed that Nepal is at 115th position globally in terms of energy consumption. Total installed capacity of Nepal in electricity has reached 3,062 MW in which the private sector is contributing 2436 MW. 

Likewise, the experts from the session on transport infrastructure said that key issues in Nepal’s transport involved inadequate road maintenance, with only 6 per cent of the budget allocated compared to the recommended 12-15 per cent as well as problems with road functionality and safety, leading to inefficiencies and high accident rates. 

Incomplete projects and inefficient procurement processes also contribute to the difficulties.

The stakeholders suggested that the private sector should be engaged more effectively in infrastructure development and public transportation improvements. This includes better coordination, adoption of new technologies, and ensuring project viability. However, the government may need to provide guarantees or subsidies to attract private investment and ensure project success and safety.

Likewise, the provincial and local government stakeholders said that they face inadequate fiscal transfer, with provincial expenditures accounting for less than 10 per cent of the federal government’s total expenditure. 

Capacity gaps, a lack of institutional structures, and the federal government’s encroachment on smaller local projects hamper their progress, they said. Coordination issues between federal and provincial governments, along with a centralist mindset, exacerbate these challenges.

Published in The Rising Nepal daily on 14 September 2024.

DPM Paudel for modernising tax administration

 Kathmandu, Sept. 13

Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel said that internal resource mobilisation will be made more effective to achieve the goal of development and prosperity of Nepal.

Speaking to the tax officers at a programme held after the inspection of the Internal Revenue Department (IRD) in the Capital on Friday, DPM Paudel said that the tax system will be further modernised in order to mobilize internal resources more effectively, reduce the tax participation cost of taxpayers, and prioritise the development of technology-friendly human resource.

He instructed the employees to work to expand the scope of taxes, create a taxpayer-friendly environment, increase the quality of taxpayer services, increase voluntary tax participation, and stop tax evasion and leakage.

Finance Minister Paudel said that he will also take more initiatives in institutional reforms to create result-based professional organisation with work specialization while emphasise would be given to simplifying the work process, risk-based tax audit and electronic governance.

Saying that the arrears and delinquencies in the big tax offices have increased, DPM Paudel has directed them to conduct a special campaign to clear the arrears.

Finance Secretary, Dr. Ram Prasad Ghimire, instructed the employees to understand their responsibilities and obligations.

Likewise, Revenue Secretary, Dinesh Kumar Ghimire, asked them to move forward by paying attention to the target of revenue mobilisation. The country has not been able to meet the annual revenue targets for the past several years with just about 64 per cent revenue target meeting in the last Fiscal Year 2023/24.

Director General of the IRD, Ram Prasad Acharya, expressed his commitment to fulfill the target of internal revenue collection this year which stands at Rs. 701 billion. Total revenue target for this fiscal is Rs. 1419.30 billion. 

Published in The Rising Nepal daily on 14 September 2024.

FM Dr. Rana urges to protect environment for future generations

 Kathamndu, Sept. 13

Foreign Minister Dr. Arzu Rana Deuba has urged one and all to start protecting the environment in order to preserve it for the future generations as well.

"Human crisis has arisen due to environmental destruction and climate change and the impact of which is occurring unimaginably not only in Nepal but also in the countries located in the Himalayan region. So, we should be considerate to the future generations and start protecting the environment," she said while speaking at an international seminar on 'Changing environment in the Himalayan region' in Lalitpur on Friday.

According to FM Dr. Rana, the Himalayas are rapidly melting due to climate change and this has a negative impact on the ecological cycle of the communities living in the region.

She said that since climate change affects women and children especially in the Himalayan region, extensive research should be done on these issues and solutions should be adopted based on the necessary facts and information.

FM Dr. Rana said, "In order to reduce the impact of climate change in the affected areas, community targeted programmes should be started immediately. Since this impact is not only happening in our country, but also in the countries located in the Himalayan region, everyone should act collectively."

Stating that Himalayas will melt, glaciers will grow and glacial lakes will burst, and heavy rains and floods will occur in the Himalayan region, Minister Dr. Rana argued that since this region is more vulnerable to climate change, the international community should not delay in starting targeted and coordinated programmes.

According to FM Dr. Rana, the international community should take action to save the future of the mountains by reducing its effects and protecting the human civilization as a whole.

She urged the international community to work hard to protect the existence and future of the Himalayan region and informed that the Government of Nepal has started preparations to organise the 'Sagarmatha Sambad' – a talk programme dedicated to climate change and development.

Published in The Rising Nepal daily on 14 September 2024.

PM Oli underscores private investment for prosperous Nepal

Kathmandu, Sept. 12

Prime Minister KP Sharma Oli has said that Nepal needed private investment to improve the economy. "Our policies and practices are perfectly aligned to welcoming private investments in Nepal. The government is always ready to provide handholding services to investors, whether they are national or international," he said while addressing the Nepal Infrastructure Summit 2024, jointly organised by the Confederation of Nepalese Industries (CNI) and the Ministry of Physical Infrastructure and Transport (MoPIT) in the Capital on Thursday.

According to him, the government is always ready to collaborate with the private sector for infrastructure growth. We can together build better transmission lines, better roads, better and livable cities, he maintained.

"The government and the private sector should be able to work together in building infrastructure in Nepal. I think we need to explore different alternatives in financing a number of infrastructure projects. For instance, we need to find out ways in harnessing financing instruments to build our infrastructures through private sector participation," said PM Oli.

According to him, infrastructure is the spine of the country's economy and the foundation upon which the future is built.

"It is not merely the physical framework upon which our cities and communities stand, it is also clean energy and industry infrastructure which promote sustainable development," he said. "For too long, our roads, bridges, and public transit systems have been neglected. We have seen the consequences of this neglect: increased traffic congestion, delayed goods and services, and a growing divide between those who have access to reliable infrastructure and those who do not," PM Oli said. 

He also mentioned that clean energy, IT and urban infrastructure have also been neglected for quite a long time which has hindered Nepal's growth process.

"Creating infrastructure is about creating jobs. Infrastructure also strengthens our communities, enabling businesses to thrive, and ensuring that every Nepali can access opportunities, no matter where they live," he said.

"We know that we need good roads, strong power transmission infrastructures, well-organized and sustainable cities, and better aviation infrastructure. These are my government's priority," he added.

Stating that these infrastructures should be environmentally sustainable, Prime Minister Oli said that though the infrastructure development is a top priority, the government alone cannot fulfill such huge infrastructure needs. "The private sector needs to walk hand in hand with the government for materializing this shared vision toward Prosperous Nepal and Happy Nepali," he said.

Dr. Bindu Lohani, former Vice President of the Asian Development Bank and infrastructure expert, said that Nepal needs infrastructure equity fund for the development of mega projects in this sector. Currently, the country lacks the financial capability to make investment in large infrastructure projects and a consortium of multiple banks and financial institutions is needed even to finance a 100 megawatt hydroelectricity project, he said.

Raekwon Chung, Nobel Laureate and Board Member of the Ban Ki-moon Foundation for a Better Future, said that right policy and active leadership is more important than the money. "If you have a right policy, money and technology will come to you."

Speaking at a session on 'regional connectivity' at the summit earlier, Minister for Physical Infrastructure and Transport, Devendra Dahal, said that Nepal is for proceeding ahead with the BBIN Motor Vehicle Agreement, and priority is accorded to promote inter-country trade and economic growth. According to Minister Dahal, 57 projects are being developed with foreign aid while private investment is given top priority in infrastructure development.

Likewise, former ambassador of Nepal to India, Dr. Shankar Sharma, said that although the South Asian region is a large area in terms of geography and population, it is the least connected and integrated region in terms of infrastructure development. He stated that without greater transport connectivity, regional trade wouldn't grow. For it, the countries should give priority to the development of rail and water transport, integrated check posts and digital connectivity.

Speaking at the inaugural session of the two-day summit, President of the CNI, Rajesh Agrawal, said that Nepal needs to accelerate its efforts in its drive toward infrastructure financing to fulfill its Sustainable Development Goals by 2030.

"We need huge investment in our critical infrastructures such as in energy, transport, and urban infrastructure. This year’s summit provides us with a renewed opportunity to explore innovative strategies, discuss cutting-edge technologies, and chart out a roadmap that will lead us toward green, resilient and sustainable infrastructure ecosystem," he said.

According to him, the summit will explore the importance of sustainable infrastructure practices, emphasizing the need for projects that are not only environmentally friendly but also socially and economically viable over the long term.

Likewise, the sessions on Friday will address the challenges and opportunities within the country’s particular sectors, be it transport, construction, waste management and others. One of the sessions will also focus on the role of provincial and local governments in infrastructure development, stressing the need for better coordination between the national and local levels to improve service delivery and project execution. 

Published in The Rising Nepal daily on 13 September 2024.

Nepal seeks regional support to operate Bhairahawa, Pokhara int’l airports

Kathmandu, Sept. 11

Minister for Culture, Tourism and Civil Aviation, Badri Pandey sought effective strong cooperation from the neighbouring countries for the operation of the Pokhara and Gautam Buddha international airports, both newly built two aviation infrastructure in Nepal.

"For the effective operation of these two airports, Nepal expects strong support from all of you and especially from the neighbouring countries," he said while addressing the opening session of the second ministerial-level conference of the Asia Pacific region of the International Civil Aviation Organisation (ICAO) which began in New Delhi, India, on Wednesday.

Minister Pandey said that Nepal's international airports have already been certified and the country expected regional support to operate the Pokhara and Gautam Buddha international airports effectively. "This will also show our commitment to the continuous improvement of our civil aviation sector," he said.

He strongly urged the ICAO and member countries to establish an aviation research and training centre in Nepal and said that Nepal was ready to facilitate its creation.

Stating that Nepal is committed to capacity building for air safety and that Nepal has achieved the highest achievement in the implementation of ICAO's Universal Safety Oversight Audit Programme (USOAP) by the year 2022, Minister Pandey informed the regional members that Nepal has successfully integrated the main principles of the Global Aviation Safety Plan into the National Safety Plan.

"As a signatory country of the Chicago Convention, we have accepted the principles of that convention and have initiated a process to formulate a new law for the establishment of a permanent body to conduct an independent investigation into the aviation sector accidents," he said.

According to him, Nepal's unique nature, topography and geography offer a great potential for research and discovery in the field of aviation. A regional research and training centre can be established in Nepal, and member countries can work together to promote good efforts in Air Navigation Services (ANS) related to search and rescue, meteorological services and air traffic flow management.

Mentioning that safe and flexible aviation infrastructures are basic component for the improvement of the aviation sector, Minister Pandey said, "To strengthen the aviation security of this region, additional cooperation and collaboration is needed among the ICAO member countries," he said.

Minister Pandey left for India on Tuesday to attend the ICAO Ministerial Conference.

The ministerial conference is attended by 250 representatives from 41 countries. 

Published in The Rising Nepal daily on 12 September 2024.        

Stakeholders set up HAI to strengthen farmers' resilience

 Kathmandu, Sept. 11

A multi-stakeholder consortium has been set up to strengthen the resilience of farmers in India, Bhutan and Nepal against the climate crisis.

The new mechanism is called the Himalayan Agroecology Initiative (HAI) and, according to the founders, it's a landmark effort to scale up sustainable agriculture in the Himalayan region.

This multi-stakeholder initiative, backed by the global think tank World Future Council and IFOAM – Organics International, a global network of organic farmers, processors, retailers, academics and researchers, will enhance biodiversity, support sustainable agricultural practices and foster durable value chains, they informed in a statement on Wednesday.

The HAI partners pledged to develop comprehensive country roadmaps for the three countries through a series of consultations, culminating in a national consultation in the respective capitals later this year. The final roadmaps will be rolled out at an international conference in 2025.

"The initiative focuses on collaborative planning and stakeholder engagement, underscores its potential to significantly impact the region's agricultural landscape. The HAI aims to create a flagship for the expansion of sustainable food systems," read the statement.

The HAI was officially announced four months ago in May 2024. The Alliance of Bioversity International - CIAT, UNDP India, Local Initiatives for Biodiversity, Research and Development (LI-BIRD) in Nepal, and the Tarayana Foundation in Bhutan are its consortium partners. These organisations have extensive expertise in agricultural research, sustainable development, and community empowerment.

This expertise will ensure that the initiative is rooted in both global best practices and local knowledge, informed the statement.

"To safeguard life on Earth, we urgently need to steer our food systems away from unhealthy and unsustainable practices. The HAI builds the foundation for a more integrated, participatory and holistic approach for coordinated action across government and clear policy interventions to co-create food systems that strike a balance between human nutrition enhancement, rural development, and environment conservation," said Alexandra Wandel, Executive Director of the World Future Council (WFC).

The WFC, IFOAM – Organics International, International Fund for Agricultural Development (IFAD) and the German Federal Ministry for Economic Cooperation and Development (BMZ) have supported the creation of the HAI.

According to Ulaç Demirag, IFAD Representative and Country Director, India, the HAI is not just a regional effort; it is a blueprint for sustainable agriculture that has the potential to influence global practices.

According to Ravi R. Prasad, Executive Director of IFOAM – Organics International, the initiative is about establishing food systems that are resilient to climate change and beneficial to smallholders’ livelihoods.

The LI-BIRD of Nepal is renowned for its participatory research methodologies and focus on climate adaptation through community resilience building, agrobiodiversity conservation, and sustainable natural resource management.

Published in The Rising Nepal daily on 12 September 2024.        

NBL operates Cash Deposit Machine

Kathmandu, Sept. 11

Nepal Bank Limited (NBL) has inaugurated and put into operation the first cash deposit machine at its main branch Kathmandu Banking Office in New Road, Kathmandu.

While inaugurating the cash deposit machine amidst a programme on Wednesday, the bank said that the customer service would be made more efficient and technology-friendly, and the state-of-the-art banking services would be expanded.

This service has been added as per the bank's goal to provide the latest digital banking services to its customers, the bank said in a statement.

As the newly installed machine has the facility of real-time cash deposit, the customers need not to deposit cash only from the cash counter which saves their time and effort.

NBL is providing services from its 229 branches, 59 extension counters and 204 ATM machines.

Published in The Rising Nepal daily on 12 September 2024.        

Changing Taste Of Teej

 Hey, have you turned into a veggie?' one of my friends asked while I moved away from the food stall at a 'Teej Dar' programme without picking up the pieces of roasted chicken, and rather filled an extra bowl with 'Kheer' (rice pudding). I grinned at her in response and said, while I continued being omnivorous, my taste buds were fed up with the same types of dishes served at almost every programmes organised in this city – from press meets and conferences to marriage receptions and Teej Dar. She threw a befuddled look at me and moved away with a plate full with delicacies. 

Teej probably has become the longest festival of Nepal with the artistes releasing Teej songs as early as two months before the festival and organisations and women groups organising Dar programme since a month before the big day. While almost every business or social organisation organises Dar programme according to their financial capability, frequency of familial feasts has shot up significantly, with most of them organising multiple Dar (combined with dance as well) before the night dedicated for it. 

The traditional concept of Dar has changed significantly. Major delicacies of it in the past included Kheer, ghee, items prepared from bamboo shoots, and varieties of pickles and vegetables. Meat of any kind was shunned during the Dar that was celebrated mostly one or two day before Teej. But the celebrations now have included almost every variety served by the hotels and party palaces which includes multiple non-veg items like roasted chicken, chicken chilly or Manchurian, mutton masala gravy, fish fries, tempuras, paneer items, rotis, and varieties of rice. 

There is no surprise. Whatever the organiser or the serving place, the items are same and they taste similar. It doesn't create any fun while munching or swallowing them, and it has become a ritual to attend such events and eat the same types of food. However, the congregation of women (sometimes men, too), sharing of feelings and dancing become paramount during such times and people care less about the foods or drinks being served. If the Dar is supported with liquor, very few care about the types of food as greater concentration goes to the drinks. 

Cultures change with time and festivals are no exceptions. We have seen multidimensional changes in Teej celebrations and other activities. New designs of clothes, jewelry and accessories, new varieties of foods and drinks and new methods of entertainment are welcome but the essence of the culture and festival should be preserved. Every festival in Nepal is celebrated with special types of dress, food, observance and communion. 

You don't eat the same food and observe the festival in the same way, so they are special. So, if you eat the same food items that are served in all types of lunches and dinners throughout the year during Dar, you fail to create or feel the vibes that the festival is supposed to create in and around you. And in the long run, there are chances that your affection towards the festival wanes gradually and you decide to stay at home rather than attending the programmes that offer you no innovation and add no additional flavours in your routine life. 

While personal health and economic management should be considered while celebrating the festivals, innovation in the traditional delicacies and including healthy food in the expansion of choice could help women, especially in the cities and towns, stay healthy. One must be conscious enough to maintain their health and economic wellbeing even beyond the festival time. 

Published in The Rising Nepal daily on 10 September 2024.        

NATTA signs partnership agreement with USAID

Kathmandu, Sept. 10

The Nepal Association of Tour and Travel Agents (NATTA) has signed an understanding for strategic partnership with the USAID Trade and Competitiveness Activity.

This collaboration aims to strengthen Nepal’s tourism industry and enhance the competitiveness of tour and travel operators, marking a significant step towards the sustainable growth and recovery of Nepal’s tourism sector post-COVID-19, NATTA informed in a statement on Tuesday.

Under this partnership, NATTA and USAID will focus on delivering capacity-building initiatives, including training in digital marketing, search engine optimization (SEO), and business strategies. These efforts are critical in expanding the global presence of Nepali tour operators, helping them attract and serve international tourists more effectively while promoting Nepal as a prime destination for cultural, adventure, and wellness tourism.

In addition to capacity building, this partnership will actively engage in advocacy and research initiatives.

According to NATTA, the two organisations will collaborate to identify and promote policy reforms that address challenges in the tourism sector by engaging with government authorities and stakeholders to create a supportive business environment.

"Additionally, they will conduct in-depth research to assess market trends, tourist preferences, and sector challenges, using the findings to develop innovative tour packages aligned with strategic tourism initiatives such as the Maya Devi heritage destination, MICE, and SAVE tourism," read the statement.

NATTA President Kumar Mani Thapaliya said, “Through our collaboration with USAID, we are not only helping tour operators enhance their marketing and business skills but also advocating for critical policy changes and conducting research that will shape the future of Nepal’s tourism industry. This partnership will significantly contribute to Nepal’s long-term tourism development.”

This collaboration is set to run from September 2024 to September 2026, with both parties committed to advancing initiatives that will create sustainable job opportunities, increase sales, and foster economic growth within Nepal’s tourism sector.

NATTA was founded in 1966, and it represents over 1,100 travel agents and tour operators across Nepal, advocating for ethical business practices, collaborating on tourism policy formulation, and conducting research to foster sustainable growth in the tourism sector.

Likewise, the USAID Trade and Competitiveness Activity is a five-year initiative aimed at boosting the competitiveness of Nepal’s private sector by improving access to market-based financial and non-financial services, increasing productivity in key sectors, enhancing the business-enabling environment, and supporting private sector-led economic recovery.

Published in The Rising Nepal daily on 11 September 2024.        

IFC willing to expand investment in Nepal

 Kathmandu, Sept. 10

The International Finance Corporation (IFC) is going to expand its investment in Nepal.

In a meeting with Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel on Tuesday at the Ministry of Finance (MoF), South Asia Regional Director of IFC Imad Fakhoury expressed the intention of IFC to expand investment in Nepal.

IFC invested US$ 100 million in Nepal last year, the MoF informed in a statement.

Mentioning that green energy, job creation and economic participation are the priorities of IFC, Fakhoury said that he and his team would play an important role in expanding investment in Nepal.

On that occasion, DPM Paudel said that more investment is necessary for the improvement of Nepal's economy and requested to expand investment in the areas of Nepal's priority and need.

Published in The Rising Nepal daily on 11 September 2024.        

KOICA to support rural development in Bardiya

Kathmandu, Sept. 10

Korea International Cooperation Agency (KOICA) and the Ministry of Federal Affairs and General Administration (MoFAGA) have signed the Record of Discussion (RoD) for the 'Inclusive Rural Development Project in Bardiya District (IRDP)' on Tuesday at the MoFAGA.

The RoD was signed by Mooheon Kong, Country Director of KOICA, and Kali Prasad Parajuli, Joint Secretary of the MoFAGA. The Korean Government through KOICA has allocated US$ 8 million for the project. The implementing agencies for the project area will be eight municipalities of Bradiya district.

"The main objective of this project is to enhance the capacity of communities in Bardiya district for agricultural production, upgrade the value chain through integration of value additions by establishing market linkages and scaling up ecotourism initiatives, fostering sustainable and resilient livelihoods and the local economy," KOICA informed in a press statement.

Locally Initiated Projects (LIPs) will be formulated based on the absolute need of local communities, then the communities will be capacitated to implement the projects, it said. 

Speaking at the RoD signing programme, Parajuli stressed on the need to enhance the agricultural productivity to uplift communities at large especially in rural areas. He assured the full cooperation from the Government of Nepal for the successful implementation of this project. 

Likewise, Kong said that this project will be an opportunity to bring Korean knowledge and technology in rural development of Nepal. He recalled the successful implementation of similar project in Nawalparasi and assured that the project in Bardiya will achieve more as there will be a chance to review lessons learned from Nawalparasi.

The ceremony also commemorated the 50 years of diplomatic ties between Nepal and Korea. The Government of Korea has been supporting Nepal through KOICA in various areas of health, agriculture, education (technical), vocational training, rural development and IT since 1991. 

By 2023, total amount of KOICA's support surpassed US$ 200 million. This comprehensive assistance encompasses 45 Country Partnership Projects, 114 Civil Society Organization (CSO) Projects, Capacity Enhancement Programmes that have benefitted 2,211 participants and the World Friends Korea (WFK) programme, which has dispatched 3,236 volunteers and specialists to Nepal. 

Published in The Rising Nepal daily on 11 September 2024.        

Ethanol mixing in petroleum products to begin in weeks: Minister Bhandari

Kathmandu, Sept. 9

Minister for Industry, Commerce and Supplies Damodar Bhandari has said that the government has made a lot of progress in the policy of mixing ethanol in petroleum products and said that only the price determination work remains which would be completed within a week.

"The regulation of ethanol mixture in petroleum products has been made; now the price is to be determined. We will finish this within a month," Minister Bhandari said at an interaction on the issue jointly organized by the Nepal Association of Financial Journalists (NAFIJ) and Nepal Oil Corporation (NOC) in Kathmandu on Monady.

Minister Bhandari said that since ethanol production is in a position to reduce the consumption of petroleum products by 200,000 kiloliters per day, the government has also instructed the NOC to proceed with the necessary policy and other arrangements.

Pratibha Maharjan, chief of the central laboratory of the NOC, said that mixing ethanol in petrol is possible because Nepal has already made a policy arrangement to mix up to 10 per cent ethanol to imported petroleum products about two decades ago.

"The provision of mixing up to 10 per cent ethanol in petroleum products was published in Nepal Gazette Volume 53 Number 35 in 2003. Since then, studies and recommendations regarding ethanol blending have also promoted the same policy. Ethanol is a burning power source. This will help to reduce the consumption of petroleum products," Maharjan said.

She also said that even neighboring countries India and China have made a policy to implement the use of ethanol from 15 to 30 per cent in petroleum products, so Nepal's policy to have 10 per cent ethanol in fuel is a rational decision.

The USA blends 10 per cent ethanol in petroleum products, Brazil 27 per cent, India 15 per cent and China 10 per cent. India has set a target of at least 30 per cent ethanol consumption by 2030. Maharjan also said that the Indian government has subsidized the production and transportation of ethanol products.

However, stating that the discussion of environment-friendly ethanol mixture in petrol should be continued, the concerned bodies and experts have requested the government not to go ahead with the implementation of ethanol blending without necessary preparations.

Lilendra Pradhan, President of the Petroleum Dealers Association, raised a question about the debate on the mixture of ethanol in petroleum products. “With the use of EVs (electric vehicles), the import of petroleum products is decreasing on a daily basis, so why and how much ethanol mixture is necessary?” he asked.

Until recently, Nepal was importing 4,000 kiloliters of petroleum products daily. It has now been reduced to around 2,000 kiloliters. "So we need to give a serious consideration to mixing ethanol in petroleum products when the import is decreasing so rapidly," said Pradhan.

However, since they are transporters of petroleum products, he said that they would transport petroleum products as the government gold them.

Likewise, consumer activist Madhav Timalsina opined that although ethanol can be mixed with petroleum products, it should be consumer- and environment-friendly. He said that when ethanol is mixed with petroleum products, consumers should get its concessions in terms of price.

Kapil Sivakoti, Chairman of Environment Committee of NADA Automobiles Association of Nepal, argued that the policy of mixing ethanol in petroleum products is pointless. He argued that since Nepal will convert to hydrogen energy in the near future, there will be no need to use ethanol in current EVs and Petroleum Engine Vehicles.

However, Executive Director of the NOC, Dr. Chandika Prasad Bhatt, announced that the government will implement the ethanol production and use as it has already advanced a lot.

After a long hiatus, the government has taken the initiative to implement the provision to blend ethanol in petroleum products. Regarding the production and use of ethanol, there is a need to create a procedure along with the proposal, and the Industry Department has already given approval for the related procedure, he said.

Published in The Rising Nepal daily on 10 September 2024.        

Traders call for timely move to retain US preferential facility

Kathmandu, Sept. 9

Trade and policy stakeholders have stressed on making timely moves to retain the trade preference provided by the United States of America (USA) after the major earthquake hit Nepal in 2015.

The USA had provided zero-tariff facility to various 77 Nepali products under Nepal Trade Preference Programme in 2016 with a decade-long timeframe.

Speaking at a dialogue on 'US-Nepal Trade and Investment: Prospects and Challenges' organized in the Capital on Monday, they said that Nepal should make preparations for the upcoming meeting of Trade and Investment Framework Agreement (TIFA) to retain the facility even after Nepal graduates to a 'developing' nation from the Least Developed Country (LDC).

The dialogue was jointly organised by the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), Garment Association of Nepal (GAN), Federation of Export Entrepreneurs of Nepal (FEEN), Nepal-USA Chamber of Commerce and Industry (NUACCI), and USAID.

Ganesh Parajuli, a lawmaker and entrepreneur, said that there have been positive developments in terms of obtaining preferential treatment for Nepali products in the USA.

Secretary at the Ministry of Industry, Commerce and Supplies, Krishna Bahadur Raut, said that the USA has been extending various trade and business facilities to Nepal considering its LDC status.

"Maintaining US preference to Nepali products is an important issue on the pretext that the country's trade imbalance has been ever growing which also has severe repercussions on foreign currency reserves," he said.

According to Raut, the government and Industry Ministry are serious about the demands and concerns of the entrepreneurs and exporters and would put their efforts to address them.

President of the FNCCI, Chandra Prasad Dhakal, stressed on timely advocacy of Nepali products' duty-free and seamless entry to the US markets and use of upcoming TIFA meeting to raise the concerns of entrepreneurs and the country.

"The USA is the second key trade partner of Nepal. The NTPP has provided duty-free entry of 77 Nepali products to the USA but we have not been able to export the goods to the desired quantity. So we need to lobby to include the products having high potential on the list," he said.

According to him, Nepal has largely failed to reap benefits from the NTPP.

Pashupati Dev Pandey, President of GAN, said that the stakeholders' dialogue was organized to solicit suggestions and critical views from the business community and policy makers.

Trade preference is our issue, it has a direct impact on business, employment and foreign currency earning, he said.

Executive Director of the Trade and Export Promotion Centre, Sharad Bikram Rana, said the issues raised by the producers and traders would be covered in the bilateral discussion during TIFA meeting. 

Published in The Rising Nepal daily on 10 September 2024.        

 

Minister Bhattarai hopes for Pakistan’s continued support

Kathmandu, Sept. 8

The Embassy of Pakistan in Kathmandu on Saturday organised its Annual Alumni Get Together in Kathmandu to honour Nepali citizens who have graduated from various educational institutions in Pakistan,

 These graduates included recipients of scholarships under the Pakistan Technical Assistance Programme (PTAP) in MBBS, BDS, D. Pharmacy, and BS Engineering as well as those who have graduated in other fields including Mass Communication and Agriculture.

Bidya Bhattarai, Minister of Education, Science and Technology gave away the token of love to the pass-out Nepali students. Leading academicians and social figures who have contributed to strengthening P2P relations between Pakistan and Nepal also attended the function, the Embassy informed.

Speaking on the occasion, Minister Bhattarai recollected the depth and warmth of Nepal-Pakistan friendly relations and appreciated the support of Pakistan for Nepal’s development, especially in the field of technical education.

She noted that the students qualified from Pakistan were contributing towards the progress of Nepal with their rich educational experience. Minister Bhattarai expressed the hope for Pakistan’s continued support in future as well.

Likewise, Ambassador of Pakistan to Nepal Abrar H Hashmi said that the educational scholarships by Pakistan to Nepali students reflected the closeness of people-to-people relations between Pakistan and Nepal.

Stating that Nepali students made life-long friendships while in Pakistan and carried with them positive memories all their lives, Ambassador Hashmi assured of Pakistan’s continued support for educational scholarships in future as well.

The Ambassador made special mention of the endeavour to further enhance the extent of scholarship awards both in number as well as spectrum. This year, five additional seats have been offered to make a phased increase each year subject to absorption as well as available field choice.

The ambassador assured that the efforts for facilitating the students going to Pakistan for higher studies would continue in a sustained manner. The ambassador further referred to the recently liberalised visa without fee which would further facilitate the visit to  Pakistan.  

Published in The Rising Nepal daily on 9 September 2024.        

Problems between Nepal and India can be solved through dialogues: PM Oli

Kathmandu, Sept. 7

Prime Minister KP Sharma Oli has said that the problems between Nepal and India can be solved easily if dialogue is held with a broad, tolerant and fair mindset.

“There are a few problems – not many – between Nepal and India,” he said releasing a book of former administrator Surya Nath Upadhyay's 'International Waterflow Law: Approach to Nepal-India Cooperation' organised by Jalshrot Bikas Sanstha on Saturday at the Prime Minister's Residence in Baluwatar. “The effort is to solve the remaining problems between the two neighbours.”

He said he had proposed for a group of eminent persons which was agreed between the prime ministers of the two countries.

"The chance to submit the EPG (Eminent Persons Group) report has not yet come up. The Nepali side is always ready to accept the report and now I feel that time has come for Indian side too to accept it. It will be easy to discuss the issues between the two countries after that," said Prime Minister Oli said.

"India is a neighbour and friend with long cultural ties. We should talk openly with our neighbours. You can't blame geopolitics for not being able to express the issues openly in a fair manner. We must not do anything, shut our mouths or shake our heads to gain and maintain power,” he added.

Arguing that the term geopolitics should not be used to cover up any selfish actions or to show cowardice, Prime Minister Oli maintained that it is not Nepali culture to stay in a foreign country and make negative comments about the head of the state.

"In the past, foreign relations were based on the might of a nation and those who would exhibit might would prevail. But after the Second World War, any country should present its national interests logically and justly, according to many international treaties and agreements. When working on common resources, one should not work unilaterally. It should be done based on agreement and discussion of both parties," PM Oli said.

Stating that the government is putting its effort to maintain good governance by keeping the country and people at the centre, he said that there should not be chaos in the name of democracy.

Stating that Upadhyaya has made an intellectual contribution by preparing a book based on the principles of the United Nations and the study of practices in different countries, Prime Minister Oli said that just nationalism with international recognition has been revealed in the book and further debates can be made based on this.

While reviewing the book, constitutional scholar, Dr. Bipin Adhikari, emphasised that Nepal should be able to hold dialogues with the neighbouring countries in order to use the water resources judiciously.

Upadhyaya is former Chief Commissioner of the Commission for the Investigation of Abuse of Authority (CIAA), former secretary of Water Resources, and held many positions in other organisations including Nepal Arbitration Council. 

Published in The Rising Nepal daily on 8 September 2024.        

ADB reorients its strategy to climate change and private sector development

 Kathmandu, Sept. 6

The Asian Development Bank (ADB) has approved an ambitious new road map to guide its evolution and scale up its support on key challenges facing Asia and the Pacific, including accelerated efforts to combat climate change and expand private sector development.

ADB’s Strategy 2030 Midterm Review—an update of its corporate strategy—outlines how the bank will transform in a rapidly changing development landscape and respond to challenges that threaten its vision for a prosperous, inclusive, resilient, and sustainable region, a statement issued by the multilateral donor's headquarters in Manila on Friday informed.

“Cascading shocks have derailed years of development progress in Asia and the Pacific. ADB is updating its vision, expanding its financial capacity, and modernising its operational approach to help its members respond to these unprecedented challenges, including the accelerating climate crisis, public health crises, and economic and fiscal vulnerability,” said ADB President Masatsugu Asakawa.

According to him, the new road map sets an unprecedented level of ambition and focus for ADB’s work and will ensure we meet the moment through bold action and transformative impact.

"In line with its mandate to fight poverty and improve lives and livelihoods, ADB will deepen its focus on five of the region’s most pressing development issues: climate action, private sector development, regional cooperation and public goods, digital transformation, and resilience and empowerment," read the statement.

To boost the region’s response to climate change, ADB will target for climate finance to reach 50 per cent of its total annual committed financing volume by 2030. ADB said that it is committed to reaching more than US$100 billion in cumulative climate finance from 2019 to 2030.

To expand private sector development, ADB will target reaching total private sector financing of $13 billion for the year 2030, a tripling of current volumes. This will comprise both its account financing and all direct mobilisation, including a minimum of $4.5 billion in direct private capital mobilisation. In addition, ADB is targeting 40 per cent of sovereign operations contributing meaningfully to private sector development by 2030.

 In September 2023, ADB approved capital management reforms that unlock $100 billion in new funding capacity over the next decade. The reforms expand the bank’s annual new commitments capacity to more than $36 billion—an increase of approximately $10 billion, or about 40 per cent.

Published in The Rising Nepal daily on 7 September 2024.        

Cash Safari of Bajaj launched

Kathmandu, Sept. 6

Hansraj Hulaschand and Co. Pvt. Ltd., the authorised distributor of Bajaj motorcycles in Nepal, has launched 'Cash Safari' on the occasion of Nepal's major festivals: Dashain, Tihar, and Chhath. The company has announced that this festive season will be special with the message 'Haat Haatma Haathi, Luckma Lakhpati'.

Under this scheme, customers can win up to Rs. 100,000 in cash with every Bajaj motorcycle purchase. Additionally, a weekly lucky draw will offer a couple a chance to experience a jungle safari in Chitwan National Park. The bumper prize will be an opportunity for one lucky couple to go on a jungle safari in Kenya, Africa.

Amit Raj Chalise, Head of Marketing at Bajaj, said, "Like every year, we have introduced an exciting scheme during the festive season. Bajaj remains committed to providing a unique experience to its customers through technology and such schemes.”

This festive season, the company is also offering easy finance options and the opportunity to make purchases with a 50 per cent down payment.

Published in The Rising Nepal daily on 7 September 2024.        

MoF wants ministries to get its consent for multi-year projects

 Kathmandu, Sept. 6

The Ministry of Finance (MoF) has written to the relevant ministries and concerned agencies to proceed with the multi-year contract agreements only after prior consultation with the former.

Mahesh Bhattarai, Spokesperson for the MoF, informed that the Ministry has made correspondence with various ministries and agencies to make the budget implementation and resource management effective for the current Fiscal Year 2024/25.

The Finance Ministry has also requested to prepare a list of high-priority projects with immediate results and a relatively high allocation of funds before asking for a multi-year contract agreement this year.

Similarly, it requested them to provide the details of the projects and the amount of obligation, which went through the multi-year procurement process in the last Fiscal Year 2024/25, and the liability of funds it will create in the next FY 2025/26.

In the correspondence, the ministries should mention the percentage of the amount that would remain as the liability under the medium-term expenditure framework for the next year.

The MoF has also asked for the details of the projects completed in the last fiscal year, funds allocated if the budget was frozen or the request for transfer of funds was made to the MoF but no decision was taken, payment liability created due to the non-inclusion of the said projects and programmes in the budget of this year and the details of the resources that can be managed, have been prepared for and available.

The ministries have also been asked to suggest alternatives for the budget transfer from the projects of the current year in case of insufficient budget for the projects, programmes and activities that were included in the budget of this year.

Similarly, for the projects and programmes included in the annual budget of 2024/25 and preparation of which is not completed, have received a very small amount of funds against the cost and are not possible to be implemented, the ministries should submit the details of them and halt their execution. 

Published in The Rising Nepal daily on 7 September 2024.        

3rd Nepal Power expo from today

Kathmandu, Sept. 5

The 3^rd Nepal Power, Light and Electric and Nepal Consumer Electronics and Home Appliances International Exhibition will be organised from September 6 to 9 at the Bhrikutimandap Exhibition Centre in Kathmandu.

Minister for Energy, Water Resources and Irrigation, Deepak Khadka will inaugurate the expo, informed the organisers – Media Space Solutions and Futurex Trade Fair and Events and Exhibition Services India in a statement on Thursday.

This exhibition will have more than 150 stalls of domestic and foreign companies. They will exhibit high-quality modern and latest technology transmission and distribution equipment, power supply and control equipment, house wiring products, wire, cable and conductor, advanced types of switches, LED lighting, electronic equipment, household electrical equipment, charging station, battery, office technology and other electronic goods.

According to the organisers, this exhibition is being organised with the aim of increasing the consumption of hydroelectric power produced in the country through various electrical means and providing economic support to the country and the overall development and business promotion of energy and electrical businesses.

They said that the exhibition is going to be organised to promote and encourage electronic devices, to develop the business of electricity and quality electronic materials, and to facilitate and promote domestic and international trade related to this sector.

Visitors of the expo will be able to see the electronic products of different companies at one place and buy their favorite products, read the statement. 

Published in The Rising Nepal daily on 6 September 2024.        

NRB gets SARFII leadership

Kathmandu, Sept. 5

The Chairmanship of the South Asia Region Financial Inclusion Initiative (SARFII) is conferred on the Nepal Rastra Bank (NRB). With this Governor of the NRB, Maha Prasad Adhikari, has become the chairman of the regional mechanism.

The central bank of Nepal got the leadership of the organisation at the meeting of the Alliance for Financial Inclusion (AFI) - Global Policy Forum being held in El Salvador from September 2.

According to the NRB, the chairmanship was handed over to Governor Adhikari at the fifth SARFIL Leaders Roundtable organised at the meeting on Wednesday. He had participated in the meeting through virtual means.

He was the incumbent Vice-chair of the SARFIL while the chairman was with the Maldives Monetary Authority.

Likewise, the meeting has elected the State Bank of Pakistan as the Vice-Chair of the organisation.

The SARFIL was established in 2022 at the 12^th meeting of the Global Policy Forum held in Dead Sea of Jordan. Central banks of Nepal, Bangladesh, Bhutan, the Maldives, Pakistan and Sri Lanka are the members of the organisation.

It was established with the objectives of knowledge sharing at the regional level, capacity building and joint learning exercises, implementation of technical assistance, and promoting all financial inclusion following global and regional best practices. 

Published in The Rising Nepal daily on 6 September 2024.        

Key SDGs facing slow progress

Kathmandu, Sept. 4

The latest report of the International Labour Organisation (ILO) has indicated slow progress on key Sustainable Development Goals (SDGs).

In its newly-released World Employment and Social Outlook: September 2024 Update, the ILO has found upward pressure on inequality as the labour income share stagnates and a large share of youth remains out of employment, education or training.

The study reveals that the global labour income share, which represents the portion of total income earned by workers, fell by 0.6 percentage points from 2019 to 2022 and has since remained flat – compounding a long-running downward trend. If the share had remained at the same level as in 2004, labour income would be larger by US$2.4 trillion in 2024 alone.

A statement issued by the ILO headquarters in Geneva on Wednesday maintained that the study highlights the COVID-19 pandemic as a key driver of this decline, with nearly 40 per cent of the reduction in the labour income share occurring during the pandemic years of 2020-2022.

The crisis exacerbated existing inequalities, particularly as capital income continues to concentrate among the wealthiest, undermining progress towards SDG 10, which aims to reduce inequality within and among countries.

"Technological advances, including automation, have played a role in this trend. While these innovations have boosted productivity and output, the evidence suggests that workers are not sharing equitably from the resulting gains," read the report.

The report warns that without comprehensive policies to ensure that the benefits of technological progress are broadly shared, recent developments in the field of artificial intelligence could deepen inequality, putting the achievement of the SDGs at risk.

"Countries must take action to counter the risk of declining labour income share. We need policies that promote an equitable distribution of economic benefits, including freedom of association, collective bargaining and effective labour administration, to achieve inclusive growth, and build a path to sustainable development for all," said Celeste Drake, ILO Deputy Director-General.

Drawing on the ILO’s recently published Global Employment Trends for Youth (GET Youth), the study also identifies the large share of youth outside employment, education and training as a persistent area of concern. As GET Youth showed, the global rate of youth not in employment, education or training (NEET) registered only a modest decline from 21.3 per cent in 2015 to 20.4 per cent in 2024 and is projected to remain flat for the next two years. The female NEET rate – which stood at 28.2 per cent in 2024 – is more than double that faced by young men, jeopardizing SDG 8.

Published in The Rising Nepal daily on 5 September 2024.        

FNCCI, trade unions to establish a forum to solve labour problems

 Kathmandu, Sept. 4

Nepal's employer organisation, Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and trade unions have jointly established a forum to solve labour-related problems.

They agreed for the same at a meeting held at the FNCCI secretariat in Kathmandu on Wednesday.

President of the FNCCI, Chandra Prasad Dhakal, said that employer-employee relations are improving in the country of late, and there should be further cooperation and coordination between employers and workers to solve any future challenges.

Likewise, Yogendra Kunwar, President of the Joint Trade Union Coordination Centre (JTUCC), said that besides reviewing the Memorandum of Understanding (MoU) signed last November, it is necessary to identify ways to reduce the challenges that may come in the coming days, make the Social Security Fund more active, and enhance the role of employer-employees.

In the same way, Binod Shrestha, Chairman of GEFONT, said that it is necessary to establish a vision to protect the industry and organise the labour market as well. Recalling the bilateral MoU signed last year, he said that it is necessary to build a working committee on the programmes mentioned in that agreement and move forward.

Jyotsana Shrestha, Vice-president of the FNCCI and Chairman of the Employers' Council under it, stressed that the agreement reached last November should be implemented soon and a discussion meeting should be held on the issue of determining the minimum wage on the basis of sector, productivity, etc. with the agreement of both parties. 

Published in The Rising Nepal daily on 5 September 2024.        

Inclusive principle sought in ambassador appointments

Kathmandu, Sept. 3

The International Relations and Tourism Committee (IRTC) of the Federal Parliament has decided to draw the attention of the government to adopt proportional inclusive principles while appointing Nepal's ambassadors to foreign countries.

Chairman of the committee Raj Kishor Yadav issued the decision of the House Panel after a discussion with the Minister for Foreign Affairs Dr. Arzu Rana Deuba and Foreign Secretary Sewa Lamsal on Tuesday.

Speaking at the IRTC, FM Dr. Rana said that the government was making maximum efforts to make the appointment of the ambassadors more orderly, dignified and transparent.

She also said that they would be appointed based on efficiency and performance as envisioned by the guidelines on the appointment of ambassadors.

Responding to the questions of the lawmakers, FM Dr. Rana maintained that the recommendations of the ambassadors were not inclusive in terms of sectors and geographical regions, and promised to pay attention to this issue in future appointments.

Stating that Nepal's interests will be represented at the international level, she expressed the commitment of the government to mobilising diplomatic missions and heads of mission abroad keeping in mind the country's paramount interest.

"The government has continued with the policy of appointing at least 50 per cent of ambassadors from the Foreign Service to balance the political field and professionalism," said FM Dr. Rana.

It has been recommended to make maximum use of the skills and experience of various fields for the national interest when recommending appointments for the ambassadors from outside the service, she added.

In response to the question that when the foreign minister of the country goes abroad, the parliamentary committee should be informed in advance about the agenda and purpose of the visit, Minister Dr. Rana said, "If this committee deems it necessary, I am ready to inform about any visit and the agenda of the visit in advance."

Published in The Rising Nepal daily on 4 September 2024.        

Crest Micro Life Insurance Limited issuing shares

Kathmandu, Sept. 3

Crest Micro Life Insurance Limited is in the process of issuing shares to the general public. It has RBB Merchant Banking Limited as the issue manager. The two companies signed an agreement on Monday. Crest also signed another agreement with the RBB Mutual Fund-1.

Crest has received ICRA double B rating from ICRA Nepal Limited, a credit rating organisation. According to ICRA Nepal, the company receiving such a rating is considered to be moderately safe in terms of meeting its financial obligations on time, the company said in a statement.

"Although the company managed to make a profit within a short period of its establishment, the rating is affected by the operational, management and risk assessment expenses in the initial years," read the statement.

According to the company, in the near future, business expansion including business diversification, quality investment and controlled claim payment process will have a positive impact on the rating.

The company is going to issue 2.2 million units of shares amounting Rs. 225 million - about 30 per cent of the company's issue capital Rs. 750 million. Unit price of each share is Rs. 100.

Crest Micro Life is a company registered as a public company in the office of the Registrar of Companies, and established in accordance with the Insurance Act, 2079 and Insurance Regulations, 2049, with the aim of providing micro life insurance services to the residents of low-income, middle class and backward areas, and the people of marginalised communities.

It's in operation for the last one and a half years. It is offering its services from 23 branches and sub-branches. 

Published in The Rising Nepal daily on 4 September 2024.