Saturday, October 5, 2024

Rs. 34.8 million received in PM's disaster relief fund

 Kathmandu, Oct. 4

Prime Minister's Disaster Relief Fund received about Rs. 34.8 million on Friday.

According to the Prime Minister's Office, chairpersons and Chief Executive Officers of various government and private sector financial institutions physically handed over the cheques to Prime Minister KP Sharma Oli at his office at Singha Durbar to express their institutional support.

Agriculture Development Bank Limited has donated Rs. 15 million to the fund. Similarly, Citizen Investment Trust handed over a cheque of Rs. 5.1 million, Simex Inc Pvt Ltd (BYD) Rs. 5.1 million, SBI Bank Limited Rs. 2.5 million, Life Insurance Corporation Rs. 3.1 million, Nepal Infrastructure Development Bank Rs. 2.5 million and Oriental Insurance Rs. 1.5 to the fund.

Prime Minister Oli thanked the companies that transferred money to the fund and expressed his belief that the help received would contribute to the distribution of relief to the victims of the floods, landslides and inundation.

He also said that as the crops of the farmers that were ready to harvest were also affected, detailed information about the damage is yet to come. Last Monday's meeting of the Cabinet had decided to initially deposit Rs. 1 billion in the fund. The fund continues to receive support from other organisations and individuals.

On Friday, Madhes provincial government announced to contribute Rs. 5.1 million to the PMDRF while Gandaki had announced to donate Rs. 5 million.

Earlier on Wednesday, the Karnali government decided to support Rs. 5 million to the fund. Organisations like the Non-Resident Nepali Association, and business bodies have also offered support to the fund. 

 Published in The Rising Nepal daily on 5 October 2024. 

Anju Shrestha becomes CEO of HEI

Kathmandu, Oct. 4

Himalayan Everest Insurance (HEI) Limited has appointed Anju Shrestha as its new Chief Executive Officer, making her the second female CEO in Nepali non-life insurance companies. She officially assumed her role on Friday.

She began her career on February 28, 1996, as an Assistant Officer. Her dedication, hard work, and commitment to excellence have enabled her to rise through the ranks, becoming a respected figure in the non-life insurance industry, HEI informed in a statement. As CEO, she now brings her wealth of experience of 29 years and strategic insights to lead HEI.

Expressing her excitement at the new role, Shrestha said, “I am honoured to lead Himalayan Everest Insurance and build on its strong legacy. My focus will be on fostering innovation and driving customer-centric solutions while maintaining a commitment to sustainable growth. I aim to create an environment of collaborative growth with accountability, all founded on a culture of deep professional respect.”

Mahendra Krishna Shrestha, Chairman of HEI, expressed his confidence that the new CEO's extensive industry experience, combined with her understanding of both opportunities and challenges, would take HEI to greater heights.

 Published in The Rising Nepal daily on 5 October 2024. 

FM Dr. Deuba leads Nepali delegation to ACD

 Kathmandu, Oct. 4

Minister for Foreign Affairs Dr. Arzu Rana Deuba led a Nepali delegation to the Third Summit of Asia Cooperation Dialogue (ACD) held under the theme 'Sports Diplomacy' in Doha on Thursday. The summit commenced with an inaugural address by Sheikh Tamim bin Hamad Al Thani, Amir of the State of Qatar, Embassy of Nepal in Doha informed in a statement.

Addressing the Summit, Foreign Minister Dr. Deuba expressed concerns over escalating regional and global conflicts and adverse impacts of climate change and reaffirmed Nepal’s unwavering commitments to multilateralism and ACD objectives.

Emphasising on the transformative power of sports diplomacy, she stated that sports are crucial for maintaining social cohesion, unity, sound mental health, and bridging socio-cultural and ideological divides. "She highlighted the immense potentials and synergies of Asia and stressed the importance of forging meaningful cooperation and promoting mutual understanding among ACD Member States for a united, resilient and prosperous Asia," read the statement.

The Summit concluded with the adoption of Doha Declaration that emphasised on harnessing sports diplomacy for fostering peace, mutual understanding and closer cooperation among ACD member states. Presidents, prime ministers, deputy prime ministers, foreign ministers/ministers and other dignitaries from ACD member states attended the Summit.

On the sidelines of the Summit, FM Dr. Deuba had bilateral meetings with Edil Baisalov, Deputy Prime Minister of the Kyrgyz Republic; U Than Swe, Deputy Prime Minister and Minister of Foreign Affairs of Myanmar; and Faisal bin Farhan Al-Saud, Minister of Foreign Affair of the Kingdom of Saudi Arabia. During these meetings, discussions were focused on further strengthening cordial bilateral relations and other matters of regional cooperation within ACD framework.

Dr. Deuba returned to Kathmandu on Friday with her delegation. 

 Published in The Rising Nepal daily on 5 October 2024. 

Trilateral pact signed to export Nepal's electricity to Bangladesh

Nepal to export 40-MW electricity to Bangladesh using Indian transmission lines

 

Kathmandu, Oct. 3

Nepal is all set to export electricity produced here to Bangladesh.

This historic milestone was achieved after Nepal India and Bangladesh signed a tripartite agreement that allows Nepal sell its electricity to Bangladesh using land and transmission infrastructure of India. Nepal Electricity Authority (NEA), Bangladesh Power Development Board (BPDB) and NTPC Vidyut Vyapar Nigam (NVVN) signed the agreement at a programme organised in Kathmandu on Thursday.

Executive Director of the NEA, Kulman Ghishing, Chairman of BPDB, Mohammad Rezaul Karim, and CEO of NVVN, Renu Narang signed the agreement on behalf of their respective organisation and country. Minister for Energy, Water Resources and Irrigation, Deepak Khadka of Nepal, Minister for Forest, Environment, Climate Change and Water Resources, Syeda Rizwana Hasan of Bangladesh and Indian Ambassador to Nepal, Naveen Srivastava were present on the occasion.

In the first phase, Nepal will export 40 megawatt of electricity to Bangladesh during the wet season – six months from mid-June to mid-November, for the next five years. According to the NEA, electricity generated from the NEA developed companies 25 MW Trishuli and 22 MW Chilime hydroelectricity projects will be exported to Bangladesh at the rate of 6.40 US cent. Ghishing said that Nepal is likely to earn US$ 9.2 million (about Rs. 1.22 billion) a year.  

Meter of the energy export would be installed in Mujaffarpur, India and the losses up to that point would be borne by the NEA and losses from Mujaffarpur to Bangladesh border would be the responsibility of Bangladeshi company while the wheeling charges for the use of NVVN's transmission line would be paid by Bangladesh.

 

15,000MW to India, Bangladesh

Ghishing said that Nepal has a target of exporting 10,000-MW electricity to India, and 5,000 MW to Bangladesh. Nepal has signed a Memorandum of Understanding (MoU) with India in January this year for the export following India's announcement in September 2023 to import the electricity of that amount for a 10-year period.

Earlier in December 2023, Bangladesh had approved a proposal from the BPDB to import 40-MW electricity from Nepal. In the following months, the NEA and BPDB had also agreed upon the rate of energy trade and preparations were made for the final agreement but the political upheaval in Bangladesh affected the process. Before the fall of the Sheikh Hasina's government, the two countries were in the final phase of inking electricity trade agreement for 40-MW and Bangladesh's minister for state for energy was scheduled to come to Nepal.

 

A prolonged effort

This historic feat was achieved after a hiatus of about a decade. In its Energy System Master Plan formulated in 2016, Bangladesh had mentioned that it would import electricity from Nepal. But there was an obligation to use the Indian infrastructure and a fresh agreement with the southern neighbour to transmit electricity from Nepal to Bangladesh.

Bangladesh had said that it could buy as much as 9000-Mw electricity from Nepal that could provide an immense opportunity for the latter to reduce trade deficit with the former. In 2018, Bangladesh had pointed to the need for a trilateral and multilateral framework for the energy trade in the region.

The then Bangladeshi ambassador to Nepal, Mashfee Binte Shams had said that the power-starving south Asian nation was even ready to make investment of up to US$ 1 billion in hydropower projects in Nepal. By then, India had given a positive nod for the facilitation in Bangladesh's power trade with Nepal and Bhutan. Bangladesh, the country that is being upgraded to a 'developing nation' from a Least Developed Country (LDC) along with Nepal in 2026, will require 34,000-MW of power by 2030 to sustain its growth.

Last year, a secretary-level committee of Nepal and Bangladesh had agreed to develop 683-MW reservoir-based Sunkoshi III Hydroelectricity project with joint investment. Now India has also been incorporated as an investor in the project.

Likewise, in 2019, Bangladesh government had decided to purchase 500-MW electricity from the GMR Upper Karnali Hydroelectricity Project but the project development is still in a limbo.

Meanwhile in March 2021, Nepal was making preparations to export about 200-MW electricity during wet season to Bangladesh by July end that year. But that remained just a talk.

 

A regional achievement

Speaking at the agreement signing programme, Energy Minister Deepak Khadka of Nepal said that the agreement is a regional achievement.

"Nepal's success in exporting electricity to a third country for the first time in its history has become an important corner stone for the South Asian region," he said.

According to him, the Nepal-Bangladesh energy sector cooperation agreement reached in 2018 is the result of continuous efforts and it is important and historic not only for Nepal but also for South Asia and BBIN region.

Minister Khadka expressed his belief that the agreement will further strengthen the friendly relations between Nepal's neighboring countries and said that the Government of Nepal is ready to cooperate with India and Bangladesh to achieve the goals in the energy sector.

Bangladeshi Water Resources Minister Syeda Rizwana Hasan, mentioned that the tripartite agreement is a corner stone in the direction of creating common prosperity and mutual commitment of South Asian countries. "This agreement is of great importance to safely achieve the national demand of Bangladesh and the global needs and the goal of sustainable development," she said.

Likewise, Indian envoy to Nepal, Srivastava, said that the cooperation among the three countries  will be further expanded in the future.

Ghishing, ED of NEA, said that this agreement is a result of mutual cooperation and mutual understanding of the expanding energy sector in South Asia. He said that Nepal has become the first country in South Asia to export electricity to a third country. "This electricity export agreement is also a model of reducing emissions, expanding relations between citizens of different countries," he said.

 Published in The Rising Nepal daily on 4 October 2024. 

AI integration critical for quality education

Kathmandu, Oct. 3

Integrating Artificial Intelligence (AI) into the education system of Nepal is not just an opportunity but a necessity as the country strives for quality education for all, stakeholders said at an interaction organised by the Federation of Computer Association of Nepal (FCAN Federation) in the Capital on Wednesday.

By embracing AI, we can empower our students to thrive in a future where technology and education are deeply intertwined, ensuring that no one is left behind in the pursuit of lifelong learning, said Prof. Dr. Subarna Shakya, President of the Centre for Cyber Security Research and Innovation.

"AI is a transformative force in education, capable of revolutionising how we teach and learn by personalizing experiences and bridging gaps in access," he said.

The interaction was focused on the 'Artificial Intelligence (AI) Concept Paper' recently released by the government, and was attended by academics, IT professionals, lawyers, service providers, and digital rights activists. According to the CAN Federation, the event was organised to gather feedback and suggestions from the participants, which will later be compiled into a report and submitted to the government.

Speakers said that AI regulation is crucial but emphasised that it should not be stifled by over-regulation.

Dr. Bhojraj Ghimire from Nepal Open University, acknowledged the concept paper as a welcome initiative but noted that it is too theoretical and lacked practical details. He pointed out that despite AI being data-driven, the paper does not address critical aspects such as data standardization, sharing, cleansing, and privacy which are essential for the development and deployment of AI technologies in Nepal.

Similarly, Sanjina Chhetri from Digital Rights Nepal raised concerns about the lack of attention to data protection in the concept paper. She also highlighted that the paper does not clearly define the roles of the federal, provincial, and local governments in AI governance.

Former DIG of Nepal Police and Advisor of Information Security Response Team Nepal (npCert), Rajib Subba, reflected on the past, recalling that the Electronics Transactions Act, originally intended to promote e-commerce, was later repurposed to regulate cybercrime. He warned that if the current discourse on AI is not guided in the right direction, it could lead to similar confusion in the future.

The report including the feedback will be submitted to the Ministry of Communication and Information Technology, according to CAN General Secretary Chiranjibi Adhikari, who is also the coordinator of the AI concept paper.

 Published in The Rising Nepal daily on 4 October 2024. 

Qatari investors eager to invest in Nepal

Kathmandu, Oct. 3

Qatari investors are looking for investment opportunities in Nepal especially in the areas of Information Technology, pharmaceutical industry, banking and financial services, hydropower and tourism, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) informed on Thursday.

"Investors here are looking for investment opportunities in Nepal. We will encourage more investors," said Khalifa bin Jassim bin Mohammed Al-Thani, Chairman of the Qatar Chamber of Commerce, at the first meeting of the Nepal-Qatar Business Council held in Doha on Wednesday.

The meeting between Chairman Thani and a delegation of the FNCCI led by its President Chandra Prasad Dhakal discussed issues related to expanding economic relations between the two countries.

During the state visit of Qatari Emir Tamim bin Hamad bin Khalifa Al Thani to Nepal on April 23 and 24 this year, an agreement was signed to establish a Business Council between the FNCCI and the Qatar Chamber.

In the first-ever meeting at the chairman level of the Council, FNCCI President Dhakal and Qatar Chamber Chairman Thani agreed to appoint members under their respective leadership to complete the Council soon. Dhakal also proposed organising a Qatar-Nepal Business Summit in Nepal. There was an agreement in the meeting to organise the programme next year, read the statement.

During the meeting, FNCCI President Dhakal stated that Nepal has external sector stability and that the reforms made in the laws have created investment opportunities. He also invited Qatari investors to invest in hydropower, tourism, information technology, and skill development in Nepal, where there are ample opportunities. Similarly, Dhakal also participated as a representative of the private sector of Nepal in the Asian Cooperation Dialogue organised by the Qatari government.                                       

 Published in The Rising Nepal daily on 4 October 2024. 

PM meets Bangladeshi Minister Hasan

 Kathmandu, Oct. 3

Minister of Environment, Forest and Climate Change, and Water Resources of Bangladesh, Syeda Rizwana Hasan paid a courtesy call on Prime Minister KP Sharma Oli on Thursday.

On the occasion of the meeting held at the Prime Minister's Residence in Baluwatar, the issues of strengthening and expanding the existing bilateral relations between Nepal and Bangladesh and increasing cooperation in energy and other sectors were discussed.

Prime Minister Oli's chief advisor Bishnu Prasad Rimal, Joint Secretary of the Ministry of Foreign Affairs, Bhrigu Dhungana, Nepal's Ambassador to Bangladesh Ghanshyam Bhandari, Bangladeshi Ambassador to Nepal, Salahuddin Noman Chowdhury, and others officials were present.

 Published in The Rising Nepal daily on 4 October 2024. 

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