Minister Joshi appointed as IBN VC

Kathmandu, May 18: The government has given the responsibility of the vice-chairman of the Investment Board of Nepal (IBN) to Minister for Industry Nabindra Raj Joshi in addition to his present ministerial responsibilities.

Until now there was no provision of appointing the vice-chairman at the IBN, a high-level government agency formed in 2011 to create an investment-friendly environment and provide fast track services to the investors, both domestic and foreign.

The post had been lying vacant for the last couple of years.

The Prime Minister leads the IBN as its chairman.

"The IBN should be developed as a strong agency in terms of large infrastructure projects, and there should be greater collaboration and coordination among the various ministries and agencies in this regard," said Minister Joshi while speaking at a programme organised by the Board to welcome him on Thursday.

He said that the IBN should work to identify bankable projects and conduct studies on the contribution of such projects in employment, revenue and overall economy, and should give top-most priority to investment facilitation.

According to him, the Board should resolve the problems in close coordination with the line ministries.

IBN Chief Executive Officer Maha Prasad Adhikari updated the minister about the projects being facilitated by the Board and the challenges being faced in executing the projects. 

ASU to install solar lift irrigation system

Kathmandu, May 18: Arizona State University (ASU) of the United States of America in collaboration with the Institute of Engineering (IoE) Pulchowk is implementing a solar-powered lift irrigation system in Rajhar of Nawalparasi district.

"The project will be completed in two weeks at a cost of about Rs. 2.8 million. The ASU will put in Rs. 2.1 million while 25 per cent of the project cost will be contributed by the community. In order to create the ownership of the people to the project, it is necessary that they have their some contribution in it," said Dr. Netra Chhetri, an Associate Professor at the ASU's School for the Future of Innovation in Society, and the School of Geographical Sciences and Urban Planning.

Dr. Chhetri is in Kathmandu for the project with a group of 11 international students studying at the ASU who will participate in the project development, and 5 students from the IOE will also join them.

The ASU and IOE had signed a Memorandum of Understanding for joint programs and other activities a couple of years ago.

The irrigation project involves lifting water up 157 feet with the help of solar technology, and it will benefit 25 families in the community.

Sun-bridge Solar Nepal, a local consulting firm, is assisting in the development of the project.

"Although it is a small project in terms of investment and impact, it will enable local people with the resilience," said Dr. Chhetri.

The project will be formally launched amidst a programme at the IOE on Friday.

According to him, throughout the Hindu-Kush Himalaya region technological solutions such as small electric or diesel-powered lift irrigation is quite common but it has not been able to lift the smallholder farmers out of poverty. 

Erratic supply of electricity and rising costs of diesel compound the problem.

"Solar powered lift irrigation could be a solution, specially as the cost of solar panels are declining, and entrepreneurs are producing solar integrator pumps at 25 per cent of the original cost," he said.

Similarly, the US team will also facilitate the women at Amaltari of the same district in producing bio-char from Lantana Camera and Mikenia Micarantha plants.

"Both of these invasive plants are threatening the habitat of endangered animals as well as the livelihoods of people dependent on forest resources. They naturally regenerate and are fast growing and will provide sustainable source of feedstock," said Dr. Chhetri.

The biochar is promoted on the basis of four complementary objects such as soil amendment to improve agricultural productivity, energy production, climate change mitigation and waste management.

Minergy will provide technical assistance in the project of about Rs. 500,000.

According to Dr. Chhetri, students of Engineering and Sustainability from the ASU and Tribhuvan University are currently working on 'Identifying operating condition and feedstock type to produce high quality biochar'.

The ASU is planning to set up a long term on farm research to understand biochar's contribution to overall soil and household food security.

Members of two Community Forestry User Groups, each consisting of 50 to 70 households, in the buffer zone forest of the Chitwan National Park in Amaltari will be trained in the biochar Pyrolysis technique under the programme.

Three faculty members Nalini Chhetri, Brad Rogers and Nadia Klim are accompanying the team. 

NIC launches 4 branches

Kathmandu, May 18: NIC Asia Bank Limited has launched its four branches at different locations on Thursday.

Chief Executive Officer of the bank Laxman Risal informed in a press release that with the inauguration of new branches the number of banking offices of NIC ASIA reached 107.

A branch at Manigram of Rupandehi district was inaugurated by President of Tilottama Chamber of Commerce and Industry Guna Nidhi Bhandari, and Naya Pul, Kaski branch was inaugurated by Kul Bahadur Gurung, a local resident.

Simimlarly, a branch in Saljhandi, Rupandehi was jointly inaugurated by President of Sainamaina Chamber of Commerce and Industry Raj Bahadur Chettri and Sainamaina Trade Association's President Durga Prasad Gautam, and another branch at Rudrapur of the same district was inaugurated by Central Member of the Federation of Nepalese Chambers of Commerce and Industry Surendra Prasad Shrestha. 

Inflation goes up by almost 1 per cent

Kathmandu, May 16: Consumer price inflation has increased to 3.8 per cent in mid-April from 2.9 per cent in mid-March this year.

According to the latest report on Current Macroeconomic Report of Nepal by the Nepal Rastra Bank, consumer price inflation was 9.7 per cent in April last year.

The blockade at the southern border had contributed to the shortage of goods in the domestic market thus propelled the inflation to almost double-digit.

“The decline in year-on-year basis inflation compared to the previous year is mainly on the account of the previous year’s base price effect and improved supply situation,” said the central bank.

The very reason caused the food inflation dropped to 0.7 per cent in April this year from 9.3 per cent in the corresponding period of last year.

A fall in price of pulses and legumes by 10 per cent vegetable by 9.7 per cent, ghee and oil by 3 per cent contributed to the fall of the food items.

However, the price of sugar and sugar products increased by almost 14 per cent and alcoholic drinks by 13 per cent in the review period, read the report.

Although significantly moderated as compared to the same period last year, the non-food inflation was 6.3 per cent in mid-April down from 10 per cent last year.

The NRB said that the decline in growth rate of price of cloth and footwear, housing and utilities, communication and transportation, among others contributed to the moderation in non-food inflation in the review period.

According to the NRB, the Hilly region witnessed relatively a higher rate of inflation of 5.6 per cent followed by Terai region, 3.4 per cent, Mountain region, 2.8 per cent, and the Kathmandu Valley, 2.7 per cent in the review period.

Meanwhile, in the current fiscal year 2016/17, merchandise exports increased 12.1 per cent to Rs. 55.22 billion as against a drop of 23.4 per cent in the first nine months of the previous fiscal.

Exports to India, and China and other countries increased by 15.7 per cent and 7.5 per cent respectively.

Export of juice, oil cakes, rosin and increased while export of cardamom, polyster yarn, readymade garments and woolen carpet decreased this year.

Likewise, imports increased by 39.7 per cent to Rs. 726.41 billion in the first nine months of the current fiscal against the drop of 9.9 per cent in the same period last year. The export-import ratio fell to 7.6 per cent this year from 9.5 per cent of previous year.

However, growth rate of remittance inflow has been decreased as compared to previous fiscal.

“The workers’ remittances increased 6.3 per cent to Rs. 511.93 billion in the review period compared to a growth of 13 per cent in the corresponding period of the previous year,” read the report. 

MoI to promote one product in every local unit

Kathmandu, May 17: The Ministry of Industry has come up with an ambitious plan to promote at least one special product in every local unit.

In a special programme proposed for the coming Fiscal Year 2017/18, the Ministry has put forth a plan to form Local Entrepreneurs Group in every local body across the country to create employment and increase the contribute of industry sector to the Gross Domestic Product (GDP) of the country.

“Such group will be created in collaboration with the Federation of Nepalese Chambers of Commerce and Industry. It is an initiative for self-employment programme across the country,” said Minister for Industry Nabindra Raj Joshi.

He said that, as per the programme, the local bodies would be asked to declare at least one priority product, and the government will provide grant support for the required technology procurement.

“We have aimed at creating 50,000 jobs in a couple of years. In the long term, we must stop the youth from leaving the country in search of employment abroad,” said the Minister.

To support business creation and development, there is a plan to create Business Incubation Center and information center related to cottage and small industries will be established in every province.

Similarly, entrepreneurs who have upgraded to cottage and small enterprises from the micro-enterprise will be provided with infrastructure development, technology transfer, training and other necessary programmes.

To promote women entrepreneurship, easy financial investment programme would be run as per which, financial support of up to Rs. 2.5 million will be provided to each group of women businesspersons. 

Nepal-Singapore CCI established

Kathmandu, May 17:

Nepal-Singapore Chamber of Commerce and Industry (NSCCI) is established.

The first meeting of the chamber on Wednesday formed a 23-member working committee in the chairmanship of Dipak Kunwar.

Likewise, Binod Dhakal, Dharma Raj Shakya and Sanjaya Kumar Agrawal were elected as the vice-presidents, and Krishna Kumar Agrawal as the general secretary.

Govinda Thapaliya elected as the treasurer of the NSCCI and Rabindra Bahadur Malla secretary.

Elected members are Amrit Prasad Dwa, Anil Das Shrestha, Anjana Chakubaji, Ashish Shrestha, Ashish Shrestha, Ayush Man Sherchan, Bijaya Singh Vaidya, Dewananda Sarawagi, Dilip Agrawal, Govinda Prasad Ghimire, Hari Man Lama, Kamala Shrestha, Khem Pant, Rajul Shrestha, Skanda Amatya, Tushardhar Tuladhar and Suresh Lohani.

The meeting has decided to hold interaction between businessmen, industrialists, experts and government officials of the two countries to promote bilateral trade, investment and technology transfer.

“We have also decided to improve economic relations with Singapore. There will be exchanges of delegations and participations in international trade fairs,” read a press statement issued by the NSCCI. 

Young voters opt for capable candidates

Kathmandu, May 14:

Young voters cast their votes enthusiastically with the hope that their locality would be a better place to live in the coming years.

The first timers also said that they felt that they had become a responsible citizen of Nepal.

“It was a different and very unique experience for me. I felt that I am a responsible citizen of the society, so I need to vote for capable people for my city,” said Ayesha Shrestha who cast her vote at the Thapathali polling station.

According to her, the youth of her age wanted someone as their leader who is efficient in mobilising resources and works in the interest of the entire community, not just for his family and relatives.

Rusmrita Yogi of Baneshwor also has expectations from the candidates whom she voted Sunday afternoon. “Although I do not know the candidates personally, I have voted for the capable ones as far as I could understand them. I think they will work for us if elected,” she said.

Unlike the older generation that followed a certain political doctrine in most of the political affairs, including voting, the new generation is mostly indifferent to politics.

“I don’t much care much about political parties. Therefore, I have voted for capable leaders and also those whom I personally know. It is better to have someone as a leader whom you know,” said Dinesh Maharjan of Kalimati.

Krishna Prasain of Kirtipur said that she voted for those who have the potential to fulfill their duties and responsibilities and work for the people. “I felt that I have fulfilled my responsibility towards the nation by voting for the right person in the right place,” she said.

The young voters also wanted the would-be leaders of the local bodies to understand the issues and expectations of the youth, like health, recreation, employment and education.

They are also concerned about the broader issues of the society, too. Especially the youth of the rural areas want to see their villages having more connectivity, infrastructure and other facilities.

“We have problems of drinking water in our village. Likewise, schools need better infrastructure and libraries. We expect that the newly-elected leaders will be able to fulfill those needs of the village,” said Suresh Regmi of Gandaki Rural Municipality, ward No. 5 of Gorkha district. Talking to The Rising Nepal over the phone, he said that youths enthusiastically participated in the elections.

According to the Election Commission of Nepal, about 1.9 million people have been listed as new voters this time.

As most of them are young and less concerned about political ideology, experts say that their votes might be decisive in the local polls that were held in about two decades.