Unchecked inequality could spur unrest: new UNFPA report warns

Unless inequality is urgently tackled and the poorest women empowered to make their own decisions about their lives, there could be unrest and threats to peace and to their development goals, according to a new report published today by the United Nations Population Fund (UNFPA).
The costs of inequalities, including in sexual and reproductive health and rights, could extend to the entire global community’s goals, stated the UNFPA report – The State of the World Population 2017 – "Worlds Apart: Reproductive Health and Rights in an Age of Inequality."
Failure to provide reproductive health services, including family planning, to the poorest women can weaken economies and sabotage progress towards eliminating poverty, it further reads adding that economic inequality reinforces and is reinforced by other inequalities, including those in women’s health, where only a privileged few are able to control their fertility.
Inequality today is not only about the haves and have-nots, said UNFPA executive director Dr Natalia Kanem. "Inequality is increasingly about the cans and cannots," she said, adding that poor women, who lack the means to make their own decisions about family size or who are in poor health because of inadequate reproductive health care dominate the ranks of the cannots.
Limited access to family planning that results in unintended pregnancies and abortions does not only harm women’s health, but also restricts their ability to join or stay in the paid labour force and move towards financial independence, the report argued.
The UNFPA report also recommends focusing on the furthest behind first, in line with the United Nations blueprint for achieving sustainable development and inclusive societies by 2030. 

Bhatta elected NRNA president

The eighth global conference of Non-Resident Nepali Association (NRNA) has elected Bhaban Bhatta as the new president for the next two-year term.
Bhatta – with 1,197 votes – has defeated Jamuna Gurung Ghale, who secured 584 votes, in the election held here today. Of the total 1854 voters, 1788 voters cast their ballots.
Jamuna Gurung Ghale is the better half of the incumbent president Shesh Ghale, who is completing his second two-year term. According to the statatue of the NRNA, one can not become president for the third term.
Bhatta, who has been associated with the non-resident Nepali movement since the beginning in 2003, as the executive member of the adhoc committee in 2003 while forming the organisation in Japan and served in various positions of the international coordination council (ICC) of the NRNA.
Bhatta has been living in Japan since the last 20 years. He owns chain restaurants and a resort in Japan. Bhatta has also invested in various sectors like hospitality, media, brewery, education, aviation and planning to invest in many more in Nepal.
After being elected as the new president of NRNA, Bhatta said that he will take forward the NRNA movement to second version, which he has named NRNA V.2, and work towards making a substantiative contribution to Nepal's economy. He said that every NRNs, despite their economic status, will get an opportunity to contribute to the socio-economic development of the country through a collective investment mechanism. Bhatta also said NRNA will forward the agendas including its own headquarters construction, smart NRNA academy, Laprak Model Settlement and joint investment.
Meanwhile, the global conference also elected Kumar Panta (Germany), Kul Acharya (UK) and Sapila Rajbhandari (Russia) as vice presidents. Panta had served as vice president in the earlier executive committee, whereas Acharya was coordinator for Europe region and Rajbhandari was women coordinator in the executive committee. Likewise, DB Chhetri and Janaki Gurung (secretary), Hikmat Bahadur Thapa (treasurer) and Somnath Sapkota (co-treasurer) from some 100 candidates, who were vying for 39 different posts in the new executive committee. The election committee informed Bhuma Devi Limbu won the Woman Coordinator post while Sudan Thapa claimed victory as Youth Coordinator.
A total of 1,854 delegates cast their votes in the election held late today at Hyatt hotel in Kathmandu for the executive committee of the NRNA that was established 14 years ago and now has spread in 77 countries. 

US gives $100,000 for restoration of Hindu temple in Nepal

The US has provided Nepal a financial assistance of $100,000 for the restoration of a 16th century Hindu temple, which was badly damaged in the 2015 devastating earthquake that jolted the Himalayan republic.
The US Embassy in Kathmandu, through the Ambassador’s Fund for Cultural Preservation (AFCP), provided the amount to the Kathmandu Valley Preservation Trust (KVPT) for the restoration of the historic Char Narayan temple.
"Built in 1566, the temple demonstrates a significant and highly-developed expression of Newari architecture,” according to a statement issued by the embassy.
"Our work through the Ambassador’s Fund for Cultural Preservation serves as a symbol of the strong, vibrant partnership between our nations, as well as our respect for Nepal’s diverse and rich heritage,” Ambassador Teplitz said, adding, "As we celebrate the 70th year of diplomatic relations between our two countries, I am pleased to inaugurate the restoration work on Char Narayan as a tangible symbol of our mutual friendship."
Teplitz and director general of the Department of Archaeology Bhesh Narayan Dahal jointly inaugurated the restoration of the temple at a ceremony in Patan Durbar Square in the capital Kathmandu.
Combined with other donors, the funding will support the seismic strengthening and restoration of the Malla-era temple belonging to Lord Vishnu. The restoration work is expected to be completed within two years.
Nepal was hit by a massive 7.8 magnitude devastating earthquake in April 2015 that left nearly 9,000 people dead and as many as 22,000 injured.
According to a UN report, more than 300,000 houses were damaged in the earthquake.

Nepse rebounds on election hopes

Nepal Stock Exchange (Nepse) benchmark index jumped by 46.59 points today to close the market at 1,564.87 points due to investors' confidence on provincial and federal polls scheduled on November 26 and December 7. The Election Commission has already started the election process.
The share market rebounded on the second trading day of the week by double-digit following a continous drop after Dashain festival.
The single-day surge in the benchmark index was the highest in six months for a market that has recovered somewhat after a continuous dive due to the Dashain festival. The last time the market had surged by this level was on April 19 when the benchmark index climbed up by 49.88 points.
Share price of 154 companies went up on Monday while nine companies suffered loss. 
A total of 1.47 million units of shares of 163 companies worth Rs 615.04 million were traded in the market this week through 4,469 transactions.
Similarly, the investors' confidence also looked up due to comfortable liquidity situation in the banking system. Investors are also expecting the interest rates to fall with the bank and financial institutions having comfortable liquidity position.
Amid mismatch on the growth of deposit and loans, the financial institutions were facing the shortage of loanable fund until last month. The shortage has pushed interest rates to the higher level.

AEPC provides Rs 60 million to microhydro projects

The Alternative Energy Promotion Centre (AEPC) has provided support for maintenance of 48 micro hydro projects, which were completely or partially damaged by the devastating earthquakes of April and May 2015. The AEPC has provided Rs 60 million to 48 projects – out of the total 262 projects that were damaged – in the last two years for their maintenance.
AEPC is providing grant to complete maintenance of the damaged projects in 11 districts – Rasuwa, Nuwakot, Dhading, Gorkha, Kavre, Sindhupalchowk, Dolakha, Ramechhap, Sindhuli, Okhaldhunga and Makawanpur – which were highly affected by the natural calamity.
AEPC will continue its financial support to damaged projects until completion of maintenance process. According to the AEPC, micro hydro projects in Dolakha, Sindhupalchowk and Gorkha were highly affected by the earthquakes.
The AEPC is providing support for maintenance of micro hydro projects, with assistance from the United Nations Development Programme (UNDP) and Department for International Development (DfID). Likewise, fund from the government is also being utilised for maintenance of such projects.
"We are not directly involved in the maintenance process of the said projects," spokesperson for AEPC Nawa Raj Dhakal said, adding that the AEPC provides subsidy and the local community or consumer community of the project will handle the entire works.
AEPC has distinguished damaged projects in two categories; partially-damaged and fully-damaged. AEPC is sending grant through district coordination committee to projects for partially-damaged projects, whereas it directly sends the support amount to the project in the case of fully-damaged projects.
Likewise, AEPC – a government institution formed with an objective to develop and promote renewable and alternative energy technologies in the country – has also assisted the maintenance process of more than 5,000 biogas plants affected by the same natural disaster in Kavre and Gorkha districts. Likewise, it has started a study to assist the biogas plants in Nuwakot and Rasuwa districts. 

Finance Ministry recommends Nepse and DCGC heads

The selection committee formed by the Finance Ministry has recommended three candidates for the post of general manager (GM) of Nepal Stock Exchange (Nepse) and chief executive of Deposit and Credit Guarantee Corporation (DCGC).
After taking their interviews and studying their business plans, the selection committee – chaired by joint secretary of the ministry Uttar Kumar Khatri – recommended three
names – Chandra Singh Saud, Pramod Raj Sharma and Manoj Kumar Gnyawali – to the Cabinet today for a post of general manager of Nepse.
Chandra Singh Saud is a former chief executive officer of Nepal Insurance Company, whereas Pramod Raj Sharma is a university professor and Manoj Kumar Gnyawali is the deputy chief executive officer at Jyoti Bikash Bank.
The Cabinet meeting will select one of them as the general manager of Nepse for a term of four years. The selection committee had taken interviews of all the 13 candidates and shortlisted five on September 16 before recommending three to the Cabinet.
"The selection committee has finalised the candidates on the basis of their performance during interviews and based on their business plans,” he said, adding that Prabin Pandak and former Nepse general manager Sitaram Thapaliya, who had made it to the top five, are now out of the race.
The Finance Ministry had started the process to appoint a general manager at Nepse on August 1, after former general manager Thapaliya completed his four-year tenure on July 7.
Likewise, the Finance Ministry has finalised three candidates for the post of chief executive officer (CEO) of the Deposit and Credit Guarantee Corporation (DCGC). The selection committee led by Revenue Secretary Shishir Kumar Dhungana finalised three candidates today for the post after taking their interviews and examining their business plans.
The ministry has finalized former chief executive officer of Nepal Community Development Bank Ghamansingh Khadka, acting chief executive officer at DCGC Bishnubabu Mishra and a banker Binod Bahadur Karki as top three candidates for the chief executive of the Corporation.
The Cabinet will appoint one of them as the CEO of the Corporation for four years.
As a deposit insurer, DCGC started deposit guarantee scheme from 2010. It is a system that protects depositors against loss of their deposits placed with banks and financial institutions (BFIs) in case of BFIs’ failure.

SDF meeting concludes

SAARC member states – Afghanistan, Bangladesh, Bhutan, India, Maldives, Nepal, Pakistan and Sri Lanka – met in Thimphu of Bhutan on October 4-6 for the counterpart agencies meeting of SAARC Development Fund (SDF).
The meeting reviewed the status of ongoing SDF-funded Social Window projects in the SAARC member states, challenges faced by SDF in implementation of projects in the member states, importance and role of the counterpart agencies of SDF and other important matters pertaining to SDF, read a press release issued by the Thimpu-base SDF.
Counterpart agencies are the focal points nominated by the finance ministries in order to coordinate and facilitate on behalf of SDF in the respective member states.
"Counterpart agencies have a very vital role in effective implementation of projects in the SAARC member states as they act as coordinator or facilitator on behalf of SDF as and when requested by SDF," said chief executive of SDF Sunil Motiwal during the meeting. "Their role as counterpart agencies will certainly benefit SDF even more in times to come," he said, adding that SDF, along with its counterpart agencies, is fully committed to bring synergies in the member states through project funding.
SDF is the umbrella financial institution for projects and programmes implemented in the SAARC member states. Its focus is to strengthen regional integration in the SAARC region through project funding and collaboration.