The government is planning to start special counselling sessions for Nepali migrant workers going to foreign employment.
Though, South Korea is considered a ‘safe’ and most lucrative destination, the number of Nepalis committing suicide or suffering from depression in the host country has been on the rise, said Minister for Labour, Employment and Social Security Gokarna Bista, addressing a second ‘Workshop on the Role of the Private Sector in the Economic Development of Korea,’ organised by South Korean Embassy, here today. “The government is planning to start special counselling sessions, in collaboration with Korean government, for Nepalis going to work in South Korea,” he added.
South Korean envoy Park Young-Sik, addressing the event organised to support the successful settlement of workers who returned from Korea, suggested the returnee migrants to implement the skill and technology they have learned in Korea, back home. “The embassy is happy to help returnee migrants by supporting them in seting up of their businesses in Nepal,” he said, explaining how the South Korea has developed itself over the period of time.
"Even in Korea, under EPS Programme, about 35,000 Nepalis are working now in South Korea and more than 20,000 Nepali workers have already returned to Nepal," he said, highlighting the immense contribution that migrant workers, including from Korea, have made to the Nepali economic development. "Nepal’s foreign exchange reserve is healthy because of remittance as migrant workers sent remittance of $7.26 billion in the fiscal year 2017-18."
"That is about 25.1 per cent of the nation’s GDP," he added. "The healthy foreign exchange reserves obtained mainly from remittance allows Nepali people to buy foreign goods and services."
That's why Nepali economy is called as remittance-dependent and import-based one but the migrants’ money is mostly being spent on consumption which is the main reason for huge trade deficit, the envoy said, "Nepal government data shows that saving was only 15 per cent of the country’s total earnings in fiscal year 2017-18, while 85 per cent was spent on consumption for food, education, luxury goods, rent and so on."
If we include remittance, Nepal’s national savings would increase to 45 per cent. "Therefore, Nepal must make the best use of remittance," the envoy added.
However, the social cost of labour migration is troubling, particularly in terms of breakdown in the family, divorces and parenting void for the children who are left behind, according to dean of Asian Culture Centre in South Korea Kim Yong Kuk.
In a number of cases, Nepali migrants have taken their lives in South Korea due to mismatch in their expectations and the ground reality in the foreign land, work pressure, among other issues, director of EPS Korea Section under Department of Foreign Employment Krishna Prasad Khanal.
Likewise, economist Bishwo Poudel, on the occasion, emphasised on the need for the government to come up with policies for proper utilisation of remittance and capitalisation of skills of returnee migrants.
The returnees tend to blow their money on luxury goods and unproductive sector, which will land them in a difficult position when they get old, though the government is planning to ‘manage’ the remittance to secure the future of migrant workers, according to the participants.
However, the returnee migrants from South Korea are not only disciplined but also doing fairly better compared to the returnees from other destination countries, said Editor of Karobar National Economic Daily Kuber Chalise, presenting a paper on ‘Policy suggestion in creating employment for returnee migrants.’ “Out of the five returnee migrants, who were awarded by the government last week, three of them were from South Korea.”
Tracing back the history of Nepali migrant workers, Chalise said that the formal labour migration from Nepal started in 1814-1816, after the Nepal-British India war. “A total of 4,650 Nepali youngsters were recruited to the British Armed Forces as a British-Gurkha regiment after the conclusion of the war and signing of the Treaty of Sugauli in 1816.”
However, migration picked the pace during the course of time and so has the inflow of remittance, the outflow has seen whopping increase after the Maoist insurgency in Nepal.
According to the World Bank record, Nepal had received $55 million in 1993, which increased by 15 times to $771 million in a decade in 2003. “In 2013, Nepal received $5589 million, and in 2019 Nepal is going to receive more than $8000 million.”
But the remittance inflow is fueling consumption, and killing entrepreneurship and productivity in the country, Chalise, said, adding that the government realising the mistake – it has been committing due to various reasons including conflict, uncertainty and political transition – is trying to correct it by launching a soft loan scheme for returnee migrants.
However, some 18,767 – some 893 women and 17,874 men – have applied for up to Rs 1 million soft loan at subsidised interest rate for 5 years, the government data revealed, adding that the highest applicants are from Province 3 – some 13,566 – and lowest are from Province 6 – some 294 – and the government is soon going to finalise those who will get the soft loan.
Emphasising on the technologies, skills and management methods learned in Korea were important factors for their success, the members of Korean Association of Returned Workers (ANKUR) – on the occasion – also made presentations about their enterprises.
Though, South Korea is considered a ‘safe’ and most lucrative destination, the number of Nepalis committing suicide or suffering from depression in the host country has been on the rise, said Minister for Labour, Employment and Social Security Gokarna Bista, addressing a second ‘Workshop on the Role of the Private Sector in the Economic Development of Korea,’ organised by South Korean Embassy, here today. “The government is planning to start special counselling sessions, in collaboration with Korean government, for Nepalis going to work in South Korea,” he added.
South Korean envoy Park Young-Sik, addressing the event organised to support the successful settlement of workers who returned from Korea, suggested the returnee migrants to implement the skill and technology they have learned in Korea, back home. “The embassy is happy to help returnee migrants by supporting them in seting up of their businesses in Nepal,” he said, explaining how the South Korea has developed itself over the period of time.
"Even in Korea, under EPS Programme, about 35,000 Nepalis are working now in South Korea and more than 20,000 Nepali workers have already returned to Nepal," he said, highlighting the immense contribution that migrant workers, including from Korea, have made to the Nepali economic development. "Nepal’s foreign exchange reserve is healthy because of remittance as migrant workers sent remittance of $7.26 billion in the fiscal year 2017-18."
"That is about 25.1 per cent of the nation’s GDP," he added. "The healthy foreign exchange reserves obtained mainly from remittance allows Nepali people to buy foreign goods and services."
That's why Nepali economy is called as remittance-dependent and import-based one but the migrants’ money is mostly being spent on consumption which is the main reason for huge trade deficit, the envoy said, "Nepal government data shows that saving was only 15 per cent of the country’s total earnings in fiscal year 2017-18, while 85 per cent was spent on consumption for food, education, luxury goods, rent and so on."
If we include remittance, Nepal’s national savings would increase to 45 per cent. "Therefore, Nepal must make the best use of remittance," the envoy added.
However, the social cost of labour migration is troubling, particularly in terms of breakdown in the family, divorces and parenting void for the children who are left behind, according to dean of Asian Culture Centre in South Korea Kim Yong Kuk.
In a number of cases, Nepali migrants have taken their lives in South Korea due to mismatch in their expectations and the ground reality in the foreign land, work pressure, among other issues, director of EPS Korea Section under Department of Foreign Employment Krishna Prasad Khanal.
Likewise, economist Bishwo Poudel, on the occasion, emphasised on the need for the government to come up with policies for proper utilisation of remittance and capitalisation of skills of returnee migrants.
The returnees tend to blow their money on luxury goods and unproductive sector, which will land them in a difficult position when they get old, though the government is planning to ‘manage’ the remittance to secure the future of migrant workers, according to the participants.
However, the returnee migrants from South Korea are not only disciplined but also doing fairly better compared to the returnees from other destination countries, said Editor of Karobar National Economic Daily Kuber Chalise, presenting a paper on ‘Policy suggestion in creating employment for returnee migrants.’ “Out of the five returnee migrants, who were awarded by the government last week, three of them were from South Korea.”
Tracing back the history of Nepali migrant workers, Chalise said that the formal labour migration from Nepal started in 1814-1816, after the Nepal-British India war. “A total of 4,650 Nepali youngsters were recruited to the British Armed Forces as a British-Gurkha regiment after the conclusion of the war and signing of the Treaty of Sugauli in 1816.”
However, migration picked the pace during the course of time and so has the inflow of remittance, the outflow has seen whopping increase after the Maoist insurgency in Nepal.
According to the World Bank record, Nepal had received $55 million in 1993, which increased by 15 times to $771 million in a decade in 2003. “In 2013, Nepal received $5589 million, and in 2019 Nepal is going to receive more than $8000 million.”
But the remittance inflow is fueling consumption, and killing entrepreneurship and productivity in the country, Chalise, said, adding that the government realising the mistake – it has been committing due to various reasons including conflict, uncertainty and political transition – is trying to correct it by launching a soft loan scheme for returnee migrants.
However, some 18,767 – some 893 women and 17,874 men – have applied for up to Rs 1 million soft loan at subsidised interest rate for 5 years, the government data revealed, adding that the highest applicants are from Province 3 – some 13,566 – and lowest are from Province 6 – some 294 – and the government is soon going to finalise those who will get the soft loan.
Emphasising on the technologies, skills and management methods learned in Korea were important factors for their success, the members of Korean Association of Returned Workers (ANKUR) – on the occasion – also made presentations about their enterprises.
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