Media, Democracy Bear Symbiotic Tie

 Democracy and media complement each other. Democracy provides constitutional guarantee of press freedom while media helps contribute to flourishing the democratic system. In libertarian societies, there is a guarantee for the freedom of opinion and expression as well as right to information, which empowers people with basic as well as critical information about development, public expenditure, functioning of the public offices and operation of the government. Informed and aware people can question the government for their rights and the latter’s responsibilities and continue to be a formidable force for authorities should they deviate from their duties and liabilities. Informed people help to solidify the foundations of democracy in any country and society. 

Media provides platform for leaders and public to share their views and feedback, and help reach out to a large number of audience, making the propagation of views, ideologies and policies easy and economic. Without information, we can’t expect rational discussions and debates even at the grassroots level, let alone lobbying for any policy or action from the government. Mass media is the mirror of society while journalism is the exact reflection of the society. Other forms of mass media like cinema, advertising and fictions exaggerate the situation or use fantasy to tell the story in order to attract audience and make greater impact. Yet these forms of communication also require independence, no-censorship and right to information in order to function in a free, creative and commercial manner. 

Fourth pillar

Media is considered the fourth pillar in a making of a State after government, parliament and court. While these three check and balance each other through extraordinary and special rights provided by the constitution, the press acts as a watchdog of all these agencies. Media is praised and celebrated for its ‘watchdog’ role which means it conducts regular surveillance of the environment and reports the truth. It continuously fights for the freedom to acquire, store and disseminate information and in the process benefits the society as well. Take an example from Nepal. The origin of the April Movement in 2006 could be traced back to King Gyanendra’s efforts to subdue media or force them to be ‘lapdogs’. But it became counterproductive and media played a very crucial role in the restoration of the democracy. Media and journalists across the globe are still fighting against the government for the press freedom which was curtailed by the dictators in different countries.

However, to contribute to the development, social change, economic growth, media should go beyond its fundamental functions of informing and educating, and strive to creating awareness, motivating masses for social change and creating environment for equality. Media construct reality for the common people, it documents the history. People view the society, politics, government, international affairs and even their local happenings through the perspective formed by the media. They shape their worldviews with the media feed including explanation, analysis and interpretation. The developer of the agenda-setting theory of media, Maxwell McCombs and Donald Shaw, maintain that media set the agenda including their daily gossips and social interactions for the common people, and the more remote the issue, the greater the impact of media.

Another function of media is to create linkage with various communities across the country, and even the globe. People of Taplejung not only know the people of Bardiya but also sympathise with them during the disasters and help them through various means. Media helps people in identifying with other communities. Apart from reporting the facts and events, through the advocacy of the issues and agenda of underprivileged, marginalised, Dalits and disabled people, media fulfills its duties and responsibilities to the society and people. Similarly, it functions as a bridge between the people and the government where the demands of people are communicated to the authorities and programmes and policies of the government are distributed and interpreted for the public. 

Creating environment for doing business and development through the policy lobbying, reporting success stories and supporting private sector initiatives is also the responsibility of the press. Business expansion can create jobs, increases per capita income and boosts market activities. Increased purchasing power of people results in increased demand for goods and services which further attracts investment from domestic as well as foreign. Therefore, media should promote investment in business and industries and support entrepreneurs in their entrepreneurship ventures. 

Challenge

However, there is a great challenge to maintain balance and credibility while maintaining objectivity in the age of thrilling intra- and inter-media competition and rapidly changing media scenario where there is very less options for predictability for any media channel. Every medium today is fighting for its own survival and in that process, some of them have exhibited an indifference to the tenets of journalism and focused on making money by misusing the medium and journalism practice. Breach of individual and business privacy, unbalanced portrayal of businesspersons and political leaders, reliance on interest groups for news information and lack of system for fact check to find fake news have been some major anomalies roiling Nepali journalism these days. Claim of Rabi Lamichhane, leader of Rastriya Swatantra Party and former Home Minister, that media is misused by the media owners and advertisers for their vested interest bears some amount of truth. 

Maintaining independence from the media owners, advertisers and government, thus, is a big challenge. The media in India that claims to be the world’s largest democracy, with some exceptions, have almost surrendered to the government that it has notoriously nicknamed ‘Godi media’ (the one on the lap of the government) rhyming with the ‘Modi government’. If media freedom is compromised, there are high chances that media itself is responsible to some extent. 

Published in The Rising Nepal daily on 23 February 2023.

2nd Nepal Trade Summit to begin today

Kathmandu, Feb. 28

Nepal Trade Summit is going to be held in Kathmandu on March 1 and 2. The summit is being organised to discuss the prospects and challenges of steel, cement and coal sectors in Nepal, said India's Steelmint Group, the organiser of the event.

The conference, which will be held at the Soaltee Hotel in Kathmandu, will assess current micro and macro situation of the Nepali steel industry, organise discussions on major government policies related to steel and cement industry, future scenario of sponge iron, opportunities for Nepali cement industry and increasing importance of quality steel production.

It will also deliberate on major challenges facing steel industry, backward integration as a measure of margin management, coal import situation in Nepal, and challenges and opportunities of these industrial sectors.

The is the second edition of Nepal Trade Summit since the advent of coronavirus – its first edition was organised in 2018.  

In the opening session of the conference, there will be a discussion about the policy of the Nepal government and its impact on the economy. Similarly, changing dynamics of the global steel market, scenario of Nepali steel and cement industry, alternatives of raw material sources for Nepali steel and cement industry, and the price range of major raw materials required for steel production will also be discussed in the opening session of the event.

In the technical session, right mix of feedstock in steel melting, steel melting technology and efficiency improvement will be discussed from Nepal's point of view, said the organiser in a statement.

Speakers of the conference include Madhukumar Marasini, Secretary at the Ministry of Industry, Commerce and Supplies; Pradeep Kumar Shrestha, Managing Director of Panchakanya Group; Rabi Singh, President of Federation of Contractors Association of Nepal; Dhruba Thapa, President of Cement Manufacturers Association; Rajendra Malla, President of Nepal Chamber of Commerce; Bishnu Kumar Agarwal, President of Confederation of Nepalese Industries; Abhijeet Mahant, Sales and Business Director of Atlas Commodities, UK; Anurag Sharma, Director and Business Head (Steel) of Jagdamba Steel; and Vice President of Electrotherm (India) Limited Dr. Swaren Bedarkar.

More than 250 delegates will participate in the summit.

Published in The Rising Nepal daily on 1 March 2023.  

Murarka Group collaborates with Somany Ceramics

Kathmandu, Feb. 28

Murarka Group, a Nepali conglomerate with diversified industrial and business portfolio, has collaborated with Somany Ceramics, an Indian company that specialises in ceramics and allied product segment, for a joint venture to establish a manufacturing facility in Nepal.

The two companies announced the new venture at a programme organised in Kathmandu the other day.

This joint venture between Murarka Group and Somany will operate and manage a tile manufacturing facility with an annual capacity of around 3 million square meters in Nepal, said Pashupati Murarka, Managing Director of Murarka Group.

Speaking about the collaboration Murarka said, “The Murarka group is always committed to providing quality products and services to its customers. This collaboration will fulfil the need for quality and standard tiles in the Nepali market. It will contribute to the economic upliftment of the country as well as create significant employment opportunities.”

Similarly, Abhishek Somany, Managing Director and CEO of Somany Ceramics, said that the new company will introduce its product in Nepali market within a year.

"Somany ceramics has been manufacturing high-standard quality tiles suitable for residential and industrial purposes all over the world and I hope it will set a benchmark of standard in the Nepali Market as well,” he said.

According to him, Somany Ceramics is a leading player in the Indian Ceramic Industry with a global presence in the areas like Africa, Middle East and Mexico. The company has its manufacturing plants in Gujarat, Haryana and Seemandhra, India, with a total access to capacity of 74 million square metres annually.

Its range of products include – ceramic wall and floor tiles, polished vitrified tiles, glazed vitrified tiles, industrial tiles, sanitaryware and bath fittings as well as tile laying solutions.

The Murarka Group has been operating since 1946 and has a range of investments in industries such as cement, steel, automobile, consumer technology, finance, and education. 

Published in The Rising Nepal daily on 29 February 2023.  

Nepal to refine strategy of LDC graduation at Doha meet

 Kathmandu, Feb. 26

Nepal is set to share and refine the draft of the LDC Graduation Strategy at the fifth United Nations Conference on the Least Developed Countries (LDCs) being held in Doha, Qatar from March 5-9 this year. 

The government has been planning to hold a special exhibition and sideline activities jointly with Bangladesh and Laos PDR – the countries that are to be graduated to the ‘developing’ status along with Nepal in 2026. Nepal is graduating from the LDC club after 55 years since it was included in it in 1971. 

The three countries will discuss their LDC graduation strategies, future course and challenges. 

“A joint side event will be organised at the conference which will be jointly chaired by the representatives of three countries. A joint statement will also be issued after it,” said Minister for Foreign Affairs, Dr. Bimala Rai Paudyal, at a press interaction organised at the Ministry of Foreign Affairs, Singha Durbar, on Sunday.

PM's visit cancelled 

Meanwhile, Prime Minister Pushpa Kamal Dahal Prachanda has cancelled his Qatar visit citing the election of the president, according to PM’s press coordinator Surya Kiran Sharma. The PM was scheduled to attend the conference leading Nepali delegation. Meanwhile, Deputy Prime Minister and Minister for Physical Infrastructure and Transport Narayankaji Shrestha will attend the conference leading Nepali delegation, Sharma informed. 

FM Paudyal said that the conference holds high importance for Nepal as the country is designing its strategy for the post-graduation scenario. 

Any country that wishes to graduate from the LDC to a developing one should fulfill two of the three parameters – per capita income (PCI), human development index (HDI), and economic and environmental vulnerability index (EVI). The UN Committee for Development Policy (CPD) is the body to decide the ‘graduation’ of each LDC. Nepal’s performance in HDI is better than other LDCs while its PCI and EVI are below the LDC average. Nepal has met the graduation criteria in income and human aspects. 

There are growing concerns in the country especially in the private sector about the possible ‘opportunity loss’ in the post-graduation period as Nepal could lose the ‘preference’ to export its good to the developed countries like the USA, Australia and European nations. According to the Ministry of Industry, Commerce and Supplies, the government has been in communication with the European Union and other devel-oped nations to sustain the facilities such as zero customs duty and general system of preference being offered to Nepali products in their countries. 

A facility review

Spokesperson for the MoFA Sewa Lamsal maintained that the LDC summit in Doha would provide a platform to Nepal to review the facilities, challenges and opportunities after the graduation. 

Nepal will participate in three round tables at the conference. Draft speeches for the round tables have been prepared, she said. There will be eight round table discussions during the conference. 

Meanwhile, the 52nd regular session of the United Nations Human Rights Council is being organised from February 27 to April 4 in Geneva of Switzerland.

Speaking with the journalists Sunday morning, she said that this is the final year for Nepal as the member of the UNHRC in Geneva so this session holds high importance for the country. 

According to her, Nepal will present the progress the country made in the areas of transitional justice and others, achievements and activities organised. Nepali delegation will participate in general debate and a few bilateral meetings. 

“We have made very good preparations to show our achievements in human rights sector. Nepal is among a few countries that have made a good progress,” said Minister Paudyal while maintaining that the meetings at the session are suitable platforms to present the country’s national commitment and progress. 

Responding to the queries of journalists about the issue raised by the Global Alliance of National Human Rights Institutions (GANHRI) over the appointment of the commissioners of the NHRC and the threat to downgrade the national human rights watchdog to the ‘B’ status, she said that although the issues was a ‘political and technical’ one, the government was effortful to sustain the current ‘A’ status.

Published in The Rising Nepal daily on 27 February 2023.  

IME Pay adds Link Bank facility

 Kathmandu, Feb. 26

IME Pay has added Pay with Link Bank facility. With this feature, every bank user can link their bank and get various payment services through IME Pay.

Customers using this service will be charged Rs. 100 with the linking of their bank with the online payment app. However, arrangements have been made in such a way so that in addition to cashback, various awards can also be received for each payment, the company said in a statement on Sunday.

Five per cent cashback on payment of top-up, cashback on QR payment and movie tickets of QFX as well as Rs. 250 to 700 cash back will be received while making transactions by linking the bank.

The new service provides bank users with the feature of making easy payments through Link Bank, while large amounts of money can be paid directly by selecting Pay with Link Bank.

'IME Pay' is a digital financial service provider product under the IME Group. It provides mobile wallet service through telecommunication network.

Published in The Rising Nepal daily on 27 February 2023.  

CDSC to launch central KYC soon

Panauti, Feb. 25

The CDS and Clearing (CDSC) Limited is making preparations to implement the central KYC (know your customer) to reduce the hurdles faced by the customers and investors in the capital market.

"Investors are facing trouble as they have to fill KYC in many places which also demands more expenses to manage it. Therefore, the CDSC is planning to launch a system where customers will fill the KYC in one of the agencies and others will draw the details from the same data," Purna Prasad Acharya, Chief Executive Officer of the company, said in a training programme for financial journalists in Panauti of Kavre district.

The company is set to implement the new provision after getting approval from the Securities Board of Nepal (SEBON), the capital market regulator.

Likewise, Acharya said that the CDSC is also waiting for the approval from the SEBON to operate auction system in the stock market. It has submitted the working procedures for the operation of the market where buyers and sellers make competitive bids – they propose the buying and selling price respectively.

Although the securities related to the auction market procedure were submitted to the board sometimes ago, the approval is pending.

CDSC functions as a central depositary for instruments like equity, bonds and warrants in dematerialized form. It has the responsibility to safekeeping deposit, and withdrawal of securities certificates and transfer of ownership or their rights.

Likewise, CEO of Nepal Stock Exchange (NEPSE) Limited, Krishna Bahadur Karki, said that the global economic slowdown caused by the Russia-Ukraine war had affected the Nepali economy and stock market as well.

According to him, concerns are growing about the deteriorating indices of the stock market but it is directly linked to the national and international economic activities. He urged the media to transmit information but not to sell the sentiment about the market.

President of Stock Brokers Association of Nepal (SBAN), Dharmaraj Sapkota, said that even though there is no settlement guarantee fund, the broker companies are making payments to investors on time.

"Even though there was a share transaction of up to Rs. 22 billion in a day, the broker companies easily cleared the stock on time. However, now there are various objections that the broker companies are delaying the payments," he said.

He maintained that the brokers have not delayed the payment, even though there is no settlement guarantee fund.

There is a history of some broker companies abroad running away without clearing. However, till date, there is no instance of brokers not clearing the transactions in Nepal with the exceptions of some technical glitches, said Sapkota.

The training was organised by Nepal Association of Financial Journalists (NAFIJ) with the support from NEPSE, CDSC and SBAN. Deputy Manager of CDSC, Yograj Joshi, Manager of NEPSE, Niranjan Phuyal, Vice President of SBAN, Sarita Parajuli, and Deputy Manager of NEPSE, Murahari Parajuli, facilitated the training that ran for two days. 

Published in The Rising Nepal daily on 26 February 2023.  

IMF mission holds discussion with CBFIN

Kathmandu, Feb. 23

The mission of the International Monetary Fund (IMF), which is currently in Nepal visit, discussed the banking and current economic status with the Confederation of Banks and Financial Institutions, Nepal (CBFIN) the other day.

The mission led by Jarkko Turunen, Deputy Division Chief and Deputy Mission Chief for India in the Asia and Pacific Department (APD), interacted with CBFIN’s Vice President, Rajesh Upadhyay, Secretary General, Rajan Singh Bhandari, Executive Committee Member, Radhesh Pant, and Director General, Dr. Gopal Prasad Tiwari.

According to CBFIN, IMF mission chief stated that the mission was here to review the current state of the economy and consult with related stakeholders in the post-Covid scenario. Other members of the mission are Teresa Daban Sanchez, IMF's resident representative in Nepal, and Russell Green, a senior economist with the IMF in Washington, DC.

CBFIN updated the mission about various issues the economy is currently facing such as growing import, problems with liquidity, declining profits of banks and financial institutions, declining capital market performance, increasing non-performing loans, interest, and lack of loanable funds.

The IMF mission members said they will assess the current economic difficulties, as well as make policy recommendations, and submit them to the IMF board.

Every six months, the IMF conducts reviews of economic issues and makes policy recommendations to help the economy achieve sustainable economic growth with the implementation of suitable monetary instruments.

Published in The Rising Nepal daily on 24 February 2023.