253 stranded students arrive from Israel

 Kathmandu, Oct. 12

The chartered aircraft of Nepal Airlines Corporation has left Tel Aviv of Israel with 253 Nepali nationals on Thursday afternoon. The aircraft is scheduled at the Tribhuvan International Airport (TIA) at 1:30 AM on Friday morning, informed the Ministry of Foreign Affairs (MoFA) of Nepal.

As per the updates till the preparation of this news, Foreign Affairs Minister, NP Saud, will talk to the media about the recent situation in Israel and rescue of Nepali citizens.

FM Saud has led the rescue mission and reached Tel Aviv on Thursday afternoon where he was received Nepali Ambassador to Israel, Kanta Rijal, Israel's Chief of Protocol and officials of the Ministry of Foreign Affairs of Israel, informed Dipak Joshi, Chief Personal Secretary of FM Saud.

The aircraft had left the TIA on Thursday morning, halted briefly at the Dubai Airport and at 10:46 AM flew from there for Tel Aviv. It reached there at 1:55 PM Nepali Time and flew from there at 3:55 PM.

Nepali citizens being rescued are students who had reached Israel under 'learn and earn' programme.  They were sent there by Tribhuvan University, Agriculture and Forestry University and Sudurpaschim University in cooperation with the Israeli government.

Amidst the mounting pressures from the families of the Nepalis in Israel, Prime Minister Pushpa Kamal Dahal Prachanda had asked the MoFA, Ministry of Culture, Tourism and Civil Aviation, and Civil Aviation Authority of Nepal to expedite the process to rescue Nepali students from Israel.

As a result, within a day on Wednesday, the government made arrangements to conduct a rescue flight in coordination with the Embassy of Nepal in Tel Aviv, Israeli government and country in transit. The government also decided to entrust FM Saud to lead the mission.

However, according to the MoFA, it is not sure whether there would be further rescue flights. But it assured the public that all possible channels to ensure the safety of Nepalis in Israel and bring back those who wished so. If they come back through any commercial flight, which are limited to a couple of flights a day, the airfare would be borne by the government, MoFA said in a press meet on Wednesday.

Ten Nepali students have died in an attack by the Palestine rebel group HAMAS on Saturday, October 7 while one, Bipin Joshi, is still missing.

The embassy has received more than 350 responses online from the Nepali citizens in Israel and about 288 had wished to return to Nepal and the remaining wished to be relocated from there areas.

Meanwhile, the process to bring back the mortal remains of the deceased 10 Nepalis is under process is likely to take some time as various protocol needed to be fulfilled apart from conducting the postmortem of the dead bodies.

However, Foreign Minister of Israel, Eli Cohen, in telephone conversation with FM Saud had assured Nepal of full support in early repatriation of the mortal remains of the dead ones. 

 Published in The Rising Nepal on 13 October 2023. 

Govt ready to form commission to cure economic ailments: PM

Kathmandu, Oct. 12

Prime Minister Pushpa Kamal Dahal Prachanda has said that the government is positive to form a high-level statutory commission or mechanism as proposed by the private sector.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has proposed to form a joint high-level mechanism like an economic reform commission led by the Prime Minister and including the representation from the umbrella organisations of the business sector, Ministry of Finance, Ministry of Industry, National Planning Commission and Nepal Rastra Bank to find out immediate and pragmatic solutions to the present economic slowdown and framework on new phase of long-term reform.  

President of the FNCCI, Chandra Prasad Dhakal, said that such mechanism with high-level legal status is needed to find solutions to the challenges faced by the economy, primarily by the businesses and industries.

Addressing the 'National Economic Discourse' programme organised by the FNCCI on Thursday in the Capital, Prime Minister Prachanda said that he had already discussed the matter with Finance Minister Dr. Prakash Sharan Mahat and it would be formed after the FM and Finance Secretary Krishna Hari Pushkar return from the meeting of the IMF being held in Marrakesh of Morocco.

"I discussed the matter with the finance minister immediately after FNCCI President Dhakal proposed it to me. We are positive to work together with the private sector in improving the current economic scenario," he said.

According to him, such a mechanism instills confidence in the people and it solves the problems of the economy. A mechanism should be created by having representatives from the central bank, government agencies, private sector, experts, and the Prime Minister's Office for the collective benefit, keeping everyone's expertise and experience at the centre.

PM Prachanda said that there is a need to move towards 'a major operation' in the next fiscal year 2024/25 by making bold decisions through the policies and programems and budget of the government.

"We wanted to make such departure in the current fiscal year but due to time constraints, we couldn't implement that idea. I don't think the problem will be solved by only reforming the current laws of Nepal to improve Nepal's economy. This requires a major operation," he said.

He maintained that the government had tried to address some immediate problems of the economy including by creating harmony between the fiscal and monetary policies. It tried to create investment environment for Nepalis living abroad and implemented some business reforms but the economic challenges persisted.

"Now, we need some qualitative restructuring. For this, private sector, government, experts should sit and review the current situation and policies, and make a way forward. It also maintains national unity," said PM Prachanda.

According to Dhakal, the term of the commission will be one year and the solution to the immediate problem will be submitted within three months.

"The commission can be dissolved after preparing the new generation reform plan and submitting it to the relevant agencies. The private sector will also contribute to its operation," he said.

According to the proposal made by the private sector, members of the commission will not be provided with vehicle facilities and meeting allowances, meetings or other discussions will not be organised in hotels or resorts but in the offices of the private sector or government agencies.

Likewise, foreign aid will not be taken for running the commission and the members of the commission will not be sent on foreign tours in the name of exposure visits.

Stating that the government should be positive about boosting the confidence of the private sector, Dhakal said that solutions for the immediate and long-term challenges could be found if the public and private stakeholders work together.

"Look at the state of the economy. The revenue is decreasing because the private sector is not functioning. Internal debt has been raised since the beginning of the fiscal year to finance government expenditure. There is a high price increase," he stated.

According to him, the businesses wanted to develop a transparent and private sector friendly system. Small entrepreneurs need more support.

The private businesses also pointed to the need of coordination with development partners. "But application of caution while accepting such advices is necessary so that they don't cause problems for Nepali people," said Dhakal while urging that even a small loan from the International Monetary Fund should be paid now as it is likely to create risks in Nepali economy.

He urged the government and Nepal Rastra Bank to abandon the practice of implementing myopic policies while stating that the NRB has been targeting the stock market.

"It is basically that the general public is losing faith in the economy and at the same time, investment and market demand have decreased, while the market price is continuously increasing. This shows that there is a structural problem in the Nepali economy. If we do not solve it now, the risk will deepen," said Dhakal. 

 Published in The Rising Nepal on 13 October 2023. 

FM Dr. Mahat urges EU to delist Nepal from 'Air Safety List'

 Kathmandu, Oct. 12

Finance Minister Dr. Prakasharan Mahat has urged the European Union (EU) to remove Nepal from its Air Safety List.

He made the request at a meeting with the EU, Commissioner for International Partnership, Jutta Urpialainen, at a sideline meeting with her during the annual meeting of the World Bank and International Monetary Fund being held in Marrakesh of Morocco, informed the Ministry of Finance (MoF) of Nepal.

Since 2013, the EU has kept Nepal's air service companies in 'air safety' concern. This step bars Nepali airlines companies from flying into the European skies.

Following the latest monitoring of Nepali airlines companies in July last year, the EU had refused to remove Nepal from the air safety concern. Another on-site monitoring was scheduled for February/March this year which couldn't be happened due to the accident at Pokhara Airport in January this year.

The Air Safety Committee of the EU, which updates its report on air safety concerns every six months, has recently conducted an on-site monitoring of Nepal. In response, Urpialainen said that she will work from the embassy in Nepal and discuss air safety issues.

The Air Safety Committee of the EU has conducted an on-site study on Nepali Air Service Company and air safety in August and September this year.

According to a statement issued by the MoF on Thursday, FM Dr. Mahat has also urged the EU to increase financial assistance to Nepal.

 Published in The Rising Nepal on 13 October 2023. 

FM Saud leads a rescue mission to Israel

 Kathmandu, Oct. 11

Minister for Foreign Affairs, NP Saud, is leading a mission to rescue Nepali nationals trapped in Israel.

The government has sent a widebody aircraft of the Nepal Airlines Corporation to Israel to rescue the students stranded after the Palestine rebel group HAMAS shelled human settlements and farms there.

The aircraft departed from the Tribhuvan International Airport late Wednesday evening carrying high government officials including FM Saud.

According to the Ministry of Foreign Affairs (MoFA), more than 300 Nepalis have filled their personal details on online platform of the ministry while 288 have expressed their desire to return to Nepal. About 4,5000 Nepalis are working in Israel, and 265 students have reached there under 'learn and earn' programme. They are from the Tribhuvan University, Agriculture and Forestry University and Sudurpaschim University.

Spokesperson of the MoFA, Sewa Lamsal, said that the commercial flight service could also be used to repatriate Nepalis from Israel. "The government has decided to use all available channels to rescue Nepali nationals in Israel and bring them back to Nepal," she said.

Earlier, in the morning on Wednesday, Prime Minister Pushpa Kamal Dahal had summoned the concerned authorities, including from the Ministry of Culture Tourism and Civil Aviation and Civil Aviation Authority of Nepal, to get update about the rescue mission and had directed them to send an aircraft to Israel on Wednesday at any cost.

It was the decision of the government to send FM Saud to Israel, leading the rescue mission.

The government has given priority to the rescue of Nepali students in Israel. Although many Nepali workers in Israel wish to return home, there is no immediate plan to rescue them. However, the Embassy of Nepal in Tel Aviv in Israel will facilitate in their return and air fare would be borne by the government even if they come here in any other commercial flights.

However, since only a couple of international airlines are conducting flights to Israel, it wouldn't be easy to get back to their homes.

"We have given equal importance to all Nepalis stranded there. The government will make appropriate decisions to rescue Nepali citizens if required," Sharad Raj Aran, Joint Secretary of the MoFA, said.

However, it would take quite a while to bring back the mortal remains of the 10 Nepalis died in the attack. "Mortal remains of the deceased are kept safe at the government-run facilities there. The government of Nepal is putting efforts to bring back the remains and handover to the respective families. This is a top priority," said Lamsal while speaking at a press conference organised at the Ministry on Wednesday evening.

Earlier, on Tuesday, the Israeli Foreign Minister Eli Cohen in a telephone conversation with FM Saud had pledged support in the treatment and care of the four Nepali nationals who were injured   in the attack, and finding the whereabouts of a Nepali citizen who has gone out of contact after the attack, and assured Israel government’s full support in the early repatriation of the mortal remains.

Meanwhile, of the four students who were injured in the Saturday attack, two have been discharged from the hospital. However, the whereabouts of the missing Nepali, Bipin Joshi, is still unknown. "The government has mobilised all communication and diplomatic channels to find Joshi," said Lamsal.

According to her, MoFA is closely working with Israeli embassy in Kathmandu and Nepali Embassy in Tel Aviv in this regard and regular cooperation is being made with Israeli authorities to know the whereabouts of Joshi.

Ram Kumar Lamsal, a faculty member of Sudurpaschim University which sent Joshi to Israel, said that the delay in finding him has troubled his family and relatives. 

Published in The Rising Nepal on 12 October 2023. 

UN Secy General postpones his visit to Nepal

 Kathmandu, Oct. 11

Secretary General of the United Nations, Antonio Guterres, has postponed his scheduled visit to Nepal citing the recent crisis in the Middle East.

The Ministry of Foreign Affairs (MoFA) confirmed that the visit has been postponed until further notice. The Ministry is likely to announce the new date within a couple of days.

Secretary General Guterres was scheduled to arrive in Nepal on Friday, October 13. Prime Minister Pushpa Kamal Dahal Prachanda had invited him for an official visit of Nepal during a meeting with him in New York last month.

In his four-day visit, he was also scheduled to reach the Everest Base Camp, Annapurna Base Camp and Lumbini. 

Published in The Rising Nepal on 12 October 2023. 

Luminous launches battery exchange offer

Kathmandu, Oct. 11

Targeting the main festival season of Nepal, Luminous, a brand in the power backup solutions industry, has announced exchange offer, 'Luminous EX-Change Mahautsav 2080'.

With this offer, Luminous brings an offer for customers to make the most of their old batteries by exchanging them for brand new Luminous batteries, all while enjoying incredible discounts of up to 35 per cent on the Maximum Retail Price (MRP).

Amtrade Private Limited, the sole authorised distributor of luminous power backup solution in Nepal, the exchange offer discount is applicable to customers who exchange their old batteries, regardless of the brand, for new Luminous batteries.

The condition applicable is that the exchanged battery must have the same Ah (Ampere-hour) rating as the new Luminous battery being purchased, informed Yograj Dhungana, Business Unit Head of Amtrade.

"This initiative not only allows customers to upgrade their power solutions but also encourages responsible disposal of old batteries. It's a win-win for everyone, and we look forward to making this festive season truly special for our customers," he said.

However, the discount percentage may vary based on the condition and rating of the exchanged battery.

The exchange offer is scheduled to run from 8 October to 19 November.

Published in The Rising Nepal on 12 October 2023. 

GIBL, GCPF ink $25 million deal to boost climate financing

Kathmandu, Oct. 11

Global IME Bank Limited (GIBL) and the Global Climate Partnership Fund (GCPF) have recently inked a USD 25 million loan agreement with the aim of fostering climate-positive lending practices in Nepal.

This collaboration marks GCPF's maiden foray into climate-related financing in Nepal. The earmarked funds are dedicated to fueling energy efficiency and renewable energy projects within the country, said the GIBL in a statement on Wednesday.

"This financial infusion not only strengthens the bank's portfolio but also underscores its unwavering commitment to mitigating climate change," said the bank.

The GCPF operates as a blended partnership model, leveraging public funding to catalyse private sector investments and spur growth in developing markets.

Ratna Raj Bajracharya, Chief Executive Officer of GIBL, said that this facility extended by the GCPF will play a vital role in financing energy efficiency projects and reducing greenhouse gas emissions in Nepal. "We remain steadfast in our commitment to supporting energy projects in collaboration with GCPF to meet our strategic climate management objectives," he said.

Likewise, David Diaz Formidoni, Head of FI Investments and Climate Finance, expressed his happiness to extend their presence in Nepal, a nation highly susceptible to climate change, through the partnership with a dedicated and like-minded financial institution.

"We eagerly anticipate supporting the bank on its climate financing journey, harnessing the expertise of our in-house team of Climate Advisory Specialists and the fund's Technical Assistance Facility," he said.

The GCPF is a Luxembourg-based fund, working in an innovative public-private partnership dedicated to combating climate change by reducing greenhouse gas emissions in emerging and developing markets.

Its primary focus is on financing energy efficiency and renewable energy projects, either through local financial institutions or direct funding. Only projects that promise substantial energy savings and commit to reducing projected greenhouse gas emissions by at least 20 per cent are eligible for GCPF funding.

Established in 2009, GCPF was founded through a public-private partnership that included the German Federal Ministry for Economic Affairs and Climate Action (BMWK), KfW Entwicklungsbank, and the International Finance Corporation (IFC).

Junior catalytic capital is provided by BMWK, the Department for Energy Security and Net Zero (DZNEZ) of the UK, Denmark's development cooperation (Danida), alongside other private and public investors such as ASN Bank, Ärzteversorgung Westfalen-Lippe, FMO, OeEB, Sparkasse Bremen, the European Investment Bank (EIB), and Heilsarmee.

GIBL is the largest bank in Nepal in terms of total assets (US$ 4,049 million). "The bank boasts a substantial and stable deposit base, a favourable cost-to-income ratio, a significant retail asset portfolio, excellent asset quality, and commendable profitability," read the statement by the GIBL. It has loan book of US$ 2,845 million, net worth of US$ 451 million, and deposits of US$3,279 million.

It serves over 4.5 million customers in 77 districts through a vast network comprising more than 1,100 service centres, which include 350 branch offices, over 369 ATMs, 322 branchless banking services, and 66 extension and revenue collection counters. GIBL has three foreign representative offices as well.

Published in The Rising Nepal on 12 October 2023.