Saturday, August 3, 2024

Work to meet revenue target, Minister Paudel tells employees

Kathmandu, July 29

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has instructed the employees of the Ministry of Finance (MoF) to work so as to meet the annual revenue target for the current Fiscal Year 2024/25.

Speaking at a programme held at the MoF on Monday to review status and achievement of the annual revenue of the last FY 2023/24, DPM Paudel stated that there was no alternative to meet the target of revenue collection approved by the parliament. He directed all the high officials and staff to work with all their strength to achieve the target.

“We are in transition in terms of revenue mobilisation. We cannot achieve our goals if we move forward according to the current trend and practice," he said. "Let's assess the weaknesses and control the leakage. Let's not allow weakness in revenue mobilisation."

The government has set the revenue target of Rs. 1419 billion for the current FY 2024/25. The size of budget for this year is Rs. 1860.3 billion.  

Asking to maintain cordial relations with the industrialists and taxpayers, DPM Paudel said that that it was necessary to explain to all taxpayers that they should be afraid of their weaknesses but not afraid of the tax administration. He also instructed the employees to move forward by creating an environment that motivated them to pay taxes.

Vice-Chairman of the National Planning Commission (NPC) Prof. Dr. Shiva Raj Adhikari suggested to proceed with a clear strategy of revenue collection.

Likewise, Governor of the Nepal Rastra Bank, Maha Prasad Adhikari, pointed out the need for policy changes to make revenue mobilisation effective to address and accommodate the changes in the tax administration, and resources.

Finance Secretary, Madhu Kumar Marasini, stated that more attention should be paid to the changing structure of the economy as it is gradually moving towards the services sector. Likewise, Revenue Secretary Dr. Ram Prasad Ghimire said that the taxpayers should be treated in a friendly manner and proceed with the necessary facilitation.

In FY 2023/24, only Rs. 1082 billion was collected in revenue against the target of Rs. 1422.5 billion.

High dependence of revenue on import and reduction in import, contraction in industrial production, construction and trade has directly affected revenue mobilisation, the meeting concluded.

Meanwhile, in the first two weeks of the current fiscal year, the government has collected Rs. 18.88 billion revenue. The government expenditure from the treasury during the same period is Rs. 19.34 billion. 

Published in The Rising Nepal daily on 30 July 2024.        


Land ownership certificates distributed to landless people

Kathmandu, July 29

Minister for Land Management, Cooperative and Poverty Alleviation, Bala Ram Adhikari, has distributed land ownership certificates to 553 local residents of Rupandehi who have been living there for years but have been deprived of ownership to the land.

On Monday, Minister Adhikari distributed the 553 certificates to the residents of Siyari Rural Municipality- 4 where the survey of 19 villages and blocks has been completed, the secretariat of the Minister informed in a statement.

Senior citizens, disabled and single women expressed their happiness after receiving the certificates. They said that with this, they were freed from the pain of not having land ownership proof for years.

Speaking at the certificate distribution programme, Minister Adhikari said that the formation process for the Land Commission was in the final stage, and promised to permanently solve the problem of landlessness.

He informed that the government has prepared to distribute land ownership certificates to 500,000 landless squatters. Thaneshwar Ghimire, Chairman of Siyari, appreciated the step taken by the ministry in distributing the certificates. 

Published in The Rising Nepal daily on 30 July 2024.        


Paudel named spokesperson of central bank

Kathmandu, July 29

Ramu Paudel is appointed as the Spokesperson of the Nepal Rastra Bank (NRB), the central bank of the country.

The NRB has appointed him as the spokesperson on Monday, July 29.

Paudel, an M.Phil. in economics and post-graduate in management, is the executive director of the Bank Supervision Department at the NRB. 

Published in The Rising Nepal daily on 30 July 2024.        


Dhakal for stronger bilateral trade relations between Nepal and Thailand

Kathmandu, July 29

Chandra Prasad Dhakal, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), has emphasised the need to strengthen bilateral trade relations between Nepal and Thailand, mentioning the long-standing relationship between the two countries.

In a meeting with Suchira Panchana, Minister Counsellor (Commercial) and the Director of Thai Trade Centre, New Delhi, at the FNCCI Secretariat on Monday, Dhakal stated that Nepal and Thailand share a long history of friendship and cooperation, and trade relations have proven this enduring relationship.

He mentioned that the volume of trade between Nepal and Thailand has been steadily increasing over the past years, reaching approximately US$ 15 million in 2023, indicating potential and opportunities for both nations.

Dhakal also highlighted various areas for enhanced cooperation between Nepal and Thailand. He stated that Nepal is rich in high-quality agricultural products like tea, coffee and herbs, and by utilising Thailand's advanced food processing technology, these products can be made more competitive in the global market.

He also suggested that both Nepal and Thailand can attract more tourists and promote the tourism sector by developing joint marketing campaigns and tourism packages encompassing destinations from both countries, as both nations are renowned for their unique and diverse tourist attractions.

Likewise, Suchira Panchana mentioned that the Thai Trade Centre has planned to organise a trade fair and seminar in Nepal next year. She expressed her expectation of cooperation from FNCCI in organising the trade fair and seminar.

Published in The Rising Nepal daily on 30 July 2024.        


Secretaries brief PM Oli

 Kathmandu, July 28

Secretaries of the various ministries of the Government of Nepal have briefed Prime Minister KP Sharma Oli about the status and progress at their respective institutions.

Prime Minister Oli listened to the secretaries of all ministers for six hours at his Singha Durbar Office on Sunday.

“The secretaries openly put forth their views on the situations of their ministries, the problems that hinder prompt service delivery to the people and development works and the ways to address them,” Prime Minister Oli wrote on his Facebook page after the meeting.  

According to the Prime Minister's Secretariat, PM Oli will issue his directives to the ministries on Tuesday.

“It is said that the right diagnosis of the problems is half of their solutions. We have a day tomorrow to think, we will sit again on Tuesday for further discussions and will take decisions to push forward the works,” the PM wrote.  

The meeting was attended by the deputy prime ministers, ministers, chief advisor and economic advisor of the PM, officials of the National Planning Commission (NPC), chief secretary and secretaries of all the ministries. 

Published in The Rising Nepal daily on 29 July 2024.        


CBFIN terms monetary policy ‘balanced’

Kathmandu, July 28

Confederation of Banks and Financial Institutions Nepal (CBFIN) has said that the Monetary Policy of the current Fiscal Year 2024/25 announced by the Nepal Rastra Bank (NRB) on Friday is 'balanced and timely'.

Issuing a statement on Sunday, it said that the policy was brought out by objectively studying, evaluating and analysing the state of the economic and financial sectors of the country, the state of mind and expectations of the private sector and the global environment.

"Through the revitalising of the economic activities and economy that have been slacking for the past few years, adopting policies for the stability and sustainable development of the economic and financial sector, and making efforts to facilitate it independently, the central bank is trying to awaken the lowered morale and confidence of the private sector as a whole," read the statement.

CBFIN said that revision of the capital adequacy framework, reduction in the bad loan loss system, provision that some of the reserves in the regulatory reserve can be counted as tier two capital and encouraging the use of capital fund tools and new tools are positive and commendable steps of the monetary policy to address the pressure on the capital fund of banks and financial institutions (BFIs).

Similarly, it appreciated the steps like reducing the policy rate, increasing the limit of the regulatory retail portfolio, giving relief to the builders with special priority, removing the limit of institutional share mortgage loans, adopting a policy to facilitate loans to the agriculture and innovation sector, and adjusting the loan by 'variance analysis' in the current capital loan guidelines.

"The initiative taken to strengthen microfinance institutions, to build a separate mechanism for the regulation and supervision of savings and credit cooperatives is expected to play a positive role in increasing confidence in the overall financial system and maintaining stability," sai

Published in The Rising Nepal daily on 29 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 28 July 2024.        


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