NEA resumes power supply to six industries for three months, will the dispute between NEA and industries end ?

After four days of the Prime Minister's order, the government power monopoly Nepal Electricity Authority (NEA) today late evening connected the power supply to six industries.

Earlier in the afternoon, the NEA board has decided to resume power supplies to them with condition. According to the condition, the industries must pay their dues within 3 months, otherwise, the supply will again be disrupted, a board member informed. "The NEA has resumed power supply to the six industries on the condition that they will clear their pending dues within three months."

A meeting of the board of directors of the power utility held today afternoon has decided to resume the power supply also as according to the direction of the Prime Minister and energy minister.

The board meeting was, however, not cordial as two of the board members, Bhakta Bahadur Pun and Kapil Acharya, wrote note of decent. Pun, near to the dethroned Nepal Communist Party (NCP) Maoist Centre, and Acharya near to NCP-S claimed that there is no guarantee of dues collection within 3 months also, even after resumption of power.

The NEA board has energy minister Dipak Khadka as the chair, and energy secretary Sarita Dawadi, revenue secretary Dr Ram Prasad Ghimire, NEA managing director (MD) Kulman Ghising, representative from Consumer Group Bhakta Bahadur Pun, power sector representatives Kapil Acharya, and Ratan Bahadur Ayre, and prominent member from private sector Bharat Raj Acharya.

"Of them, two board members wrote note of decent, but the majority of the members endorsed the decision facilitating the NEA to resume power," another member of the NEA board said.

NEA had cut power supplies to six industries – Reliance Spinning Mills (753.68 million), Ghorahi Cement, Arghakhanchi Cement (448.60 million), Jagadamba Synthetic (205 million), Hulas Steel (141.20 million), and Jagadamba Steel (1.60 billion) dues including 25 per cent delay fine – between July 9 and 11 for not clearing their dues of dedicated and trunk lines.

Prime Minister KP Sharma Oli on Friday directed NEA managing director Kul Man Ghising to resume power supply to all industries at the earliest as the private sector has been suffering due to slow-down in economy.

However, Ghising told the Prime Minister Oli that he would take the proposal to the board of directors.

Oli also objected to NEA’s decision -- addressing the meeting of the House of Representatives on Sunday -- of not supplying the power to the industries and discouraging the private sector during the time of economic slow down.

“As of now surplus energy is going to be wasted in the rainy season, and NEA has cut power supply to big consumers for not clearing electricity dues,” Oli said in parliament. 

According to the NEA, a total of 61 industries have to pay cumulative dues of Rs 6.60 billion. 

The debate started a decade ago, when the NEA proposed the industries to supply uninterrupted power for extra charge. Those days, the industries were suffering due to irregular power supply. THus they accepted the NEA proposal to pay premium charge for using dedicated feeder and trunk line, during the load-shedding period.

Thus, the state power monopoly, citing power outage issues in 2015, enforced the rule to charge premium on industries that consume 24 hour uninterrupted energy through the dedicated feeder and 20 hour of uninterrupted power supply through the trunk lines, during the period of load shedding.

The NEA had charged 65 per cent as premium charge for the users of dedicated feeders and trunk lines on top of the normal tariff. The industries have been regularly paying their normal tariff. But the dispute started after the NEA sent the bills to the industries with premium charges, that also four years later.

Under the dedicated feeder service, a factory that needed high voltage lines was permitted to receive direct electricity from a nearby substation, while those using trunk lines were provided with regular electricity directly through two substations. 

There has been dispute about the period, and 24-hour and 20-hour uninterrupted power usage, according to the agreement between the NEA and industries. The buyer, industries, and seller, NEA, both must follow the agreement, as it is legal binding to follow contract.

But the NEA has charged the industries with premium without providing the Time of the Day (ToD) Meter, which the industries have been asking for, if the NEA charges premium.

They have been blaming the NEA for slapping the premium charge of period even after the load shedding was declared officially over, and before the premium charge approved the Electricity Regulatory Commission, which has the only authority of fixing the power charges, not NEA.

Former FNCCI president Pashupati Muraraka, who is also one of the industries that has been asking the NEA to show ToD meter, said that they are ready to pay the premium charge, if the NEA produces ToD.

"During the load-shedding period, a decade ago, NEA supplied power to some industries through dedicated feeder and trunk line, but with condition fixed by the NEA itself, not the industries," he said, adding that the industries have been asking the NEA to follow the condition, fixed by itself.

"There are two dispute; first time period and second condition fixed by the NEA itself, not the industries," he added. "The dispute of the time period has been, more or less, solved by Lal commission formed by the erstwhile government led by Puspa Kamal Dahal, and now the remaining dispute about the condition will also be solved once the NEA produces the ToD Meter, and the industries will pay accordingly."

After a long dispute, the Dahal-led government had on January 9 formed a committee under the former Supreme Court Justice Girish Chandra Lal, with joint secretaries of the Ministry of Water Resources and Irrigation and the Ministry of Commerce and Supplies (MoICS) as members.

However, after a while, the members were replaced by the water and irrigation secretary and commerce secretary.

The committee, after three months of long investigation, has suggested the power monopoly to take premium charges of electricity used during the period of February 2016 to April 2018, only, not before and after the date. Before February 2016, the tariff was not approved by the Electricity Regulation Commission, the power sector regulator, and after April 2018, the government and NEA declared no-load-shedding in the industries.

The Lal Commission has also recommended charging premium based on the consumption amount recorded by the Time of the Day (ToD) Meter.

But NEA managing director Ghising is adamant to collect the premium charges for the period not mention by the Lal Commission also. The Dahal-led cabinet has also directed the NEA to follow the Lal Commission report. But, Ghising and NEA are not ready to follow the Lal Commission report, as they fear of corruption charges.

The NEA has booked the dues and showed that as profit in the balance and distributed bonus as well, despite the acute shortage of cash flow. Now, if they collect less charge, following the Lal Commission report, they are in the soup.

Thus, the adamant NEA on June 23 issued a notice to the industries giving them a deadline of 15 days to clear their dues. However, the industrialists did not turn up to pay the dues within the stipulated timeline that ended last Monday. They instead asked for proof.

The NEA, refusing to implement the recommendation of Lal Commission, sent the excel sheet record of the electricity use to the industries. But the industries, again, asked for ToD Meter to pay premium dues.

In the meantime, the government has changed.

The NCP-Maoist Centre supremo Dahal-led NCP-Maoist Centre and CPN-UML coalition government has been replaced by CPN-UML chair KP Sharma Oli-led CPN-UML and Nepali Congress coalition government a week ago.

The incumbent Prime Minister Oli has been vocal on the NEA's treatment to the industries, which has put pressure on NEA, especially Ghising, who is near to CPN-Maoist Centre supremo Dahal.

After the pressure from the premier, energy minister, who is the NEA board chair, the NEA’s board meeting held yesterday has also decided to facilitate the industrialists to clear their dues on dedicated feeders in 28-month installments. But the industries did not give any ear to the NEA proposal.

According to the NEA, the flexibility it has adopted will relieve the industries to settle the dues at a time of business slowdown due to low demand in the market. But the industries claim that they want the proof, not the time period, to pay premium charge claimed by the NEA.

ओलीको चौथो सत्तारोहण र बोइलिङ फ्रग एक्सपेरिमेन्ट

काठमाडौं । यतिखेर २१औं शताब्दीको एक चौथाई बितिसकेको छ । तर, नेपाल अझै १९औं शताब्दीमा नै बाँचिरहेको छ ।

१९औं शताब्दीमा वैज्ञानिकहरुले भ्यागुतोमाथि एउटा अनुसन्धान गरे । धेरैले यसलाई अनुसन्धान नै मान्दछन् तर केहिले मिथक पनि भन्दछन् ।

खैर, अनुसन्धान वा मिथक जे माने पनि यसको सार यस्तो छ ।

१९औं शताब्दीमा केही अनुसन्धानकर्मीले उमालेको पानीको भाँडामा एउटा भ्यागुता हाले । भ्यागुतोले पानीको तातो सहन सकेन, तुरुन्तै बाहिर हामफाल्यो ।

तर, यसको विपरित जब अन्वेषकहरूले चिसो पानीको भाँडोमा भ्यागुता राखे । र भाँडोलाई विस्तारै तताउँदै गए । पानीको तापक्रम अचानक नबढेका कारण भ्यागुतो पनि बसिरह्यो ।

पानी तात्दै गयो, भ्यागुतोको शरीरले स्वतः पानीको तापक्रमअनुसार आफनो तापक्रम मिलाउँदै गयो । भ्यागुताले पानीको बढेको तापक्रम महसुस गरेन । किनकि, मानिन्छ, भ्यागुताको शरीरले तापक्रमअनुसार आफूलाई समायोजन गर्न सक्छ ।

तर, एउटा यस्तो समय आयो । जब भ्यागुतोको शरीरले पानीको बढेको तापक्रम समायोजन गर्न नसक्ने गरि पानी उम्लिन थाल्यो । यसबेला यति ढिलो भैसकेको थियो कि भ्यागुतो बाहिर हामफाल्नै सकेन र अन्ततः भ्यागुतोको तातो पानीमा मृत्यु भयो । यसलाई बोइलिङ फ्रग एक्सपेरिमेन्ट अर्थात् भ्यागुतो उमाल्ने प्रयोग भन्ने गरिन्छ ।

धेरैले यसलाई अनुसन्धान नै मानेका छन् भने केहीले यसलाई मिथक पनि भन्छन् । तर, भ्यागुतो उमाल्ने अनुसन्धान मिथक नै भए पनि यसमा मानवीय मनोविज्ञान जोडिन्छ ।

जसरी, भ्यागुताले धेरै ढिलो नभएसम्म तापमानमा क्रमिक वृद्धि भएको र आफू मृत्युको मुखमा पुगेको पत्ता लगाउन सक्दैन, त्यसैगरि, सर्वसाधारण मानिसहरू पनि राजनीतिक दल तथा तिनका नेताको वरिपरि प्रायः अन्धविश्वासका साथ यसरी लाग्छन् कि उनीहरूलाई आफुमाथि आउँदै गरेको संकटको महसुस नै गर्न सक्दैनन् ।

त्यसैले बोइलिंग फ्रग एक्सपेरिमेन्टलाई राजनीति अनि अर्थशास्त्रमा पनि एउटा उदाहरण मानिन्छ । विस्तारै भएका परिवर्तन राम्रो वा नराम्रो के का लागि भएको हो भन्ने बारे अधिकांश सर्वसाधारणले बुझ्न समय लाग्छ, र धेरै ढिलामात्र बुझ्न सक्छन् ।

तर, ढिला भएपछि त्यो बुझाईको कुनै अर्थ रहन्न ।

यसले सामान्य मानव मनोविज्ञानलाई पनि चित्रण गर्दछ । हामी ती चीजहरू स्वीकार गर्छौं जुन हामीमा विस्तारै तर स्थिर रूपमा आइपुग्छन् । तिनीहरूले हाम्रो जीवनलाई नियन्त्रणमा राखिसक्दा पनि हामीलाई त्यसले हाम्रो जीवनमा पार्ने नकारात्मक असरका बारेमा अनभिज्ञ नै रहन्छौं ।

तर हामी जब बुझ्छौं, आफूलाई उमालेको पानीमा भेट्टाउँछौं, र केहि गर्न सक्ने अवस्थामा रहन्नौं ।

नेपालका राजनीतिक दलहरुले पनि नेपालीमाथि बोइलिङ फ्रग एक्सपेरिमेन्ट (भ्यागुतो उमाल्ने प्रयोग) गरिरहेका छन् । पुराना राजनीतिक दलमात्र होइन, नयाँ भनिने राजनीतिक दल त झन् सुरुवातदेखि नै नेपाली समाजमाथि खतरनाक प्रयोग गरिरहेछन् ।

भोलि कुनै पनि बेला एउटा स्वच्छ छविको नेता देश परिवर्तन गर्ने आँट बोकेर आएछ भने पुराना राजनीतिक दल त सबैलाई तह लगाउन सक्छ । तर, नेपालीको भविष्यको लागि नयाँ भनिने राजनीतिक दल र तिनको नेपाली समाजमाथिको प्रयोग बढी खतरनाक छ ।

चर्को स्वरले घोक्रो फुटाएर पटक पटक झुट बोलेपछि झुट पनि सत्य हुन्छ भन्ने गोयबल्स सिद्धान्त तथा आफू र आफ्ना वरिपरिका कानुनभन्दा माथि रहेको हिटलरी दम्भ र लोकप्रियतावादले नयाँ राजनीतिक दल नेपाली समाजमाथि जुन खतरनाक प्रयोग गर्दैछ, आइतबार संसद्मा प्रधानमन्त्री ओली सायद त्यसैमा बढी केन्द्रित भए ।

हुनत ओली कमी कमजोरी नभएका नेता होइनन् । उनले अघिल्लो पटक आफू सत्ताच्युत हुन परेपछि संसद् विघटन गर्नेसम्मको दुस्साहास गरेका हुन् । इतिहासकै सबैभन्दा शक्तिशाली करिब दुई तिहाइको सरकारको नेतृत्व गरेका ओलीले अर्थतन्त्रमा पनि कुनै चमत्कार गरेका होइनन् । अझ साँच्चै भन्ने हो भने सार्वजनिक वित्तमा विकृतीको सुरुवात गरेको दोष उनीमाथि छ ।

ओलीकै प्रधानमन्त्रीत्वकालमा २०७४ सालदेखि सरकारले अन्धाधुन्धा ऋण लिने र अनुत्पादक क्षेत्रमा खर्च गर्ने कुप्रथा सुरु भएको थियो । ओलीको ४३ महिने कार्यकालमा नेपालीको सार्वजनिक ऋण २५० प्रतिशत (अढाइ गुणा)ले बढेको थियो ।

सार्वजनिक ऋण व्यवस्थापन कार्यालयको तथ्यांकअनुसार आर्थिक वर्ष २०७३/७४ मा ६ खर्ब ९७ अर्ब ६९ करोड रुपैयाँ बराबर रहेको राष्ट्रिय ऋण ओली कार्यकालको अन्तिमतिर १६ खर्ब पुगेको थियो । अहिले सार्वजनिक ऋण २४ खर्ब रुपैयाँ नाघिसकेको छ ।

आज नेपाललाई ऋण तिर्न ऋणै लिनु पर्ने अवस्था हिजो ओलीको प्रधानमन्त्रीत्व कालकै नतिजा हो ।

त्यसैले प्रधानमन्त्री केपी शर्मा ओलीले आइतबार (साउन ६) गते आफनै पूर्व कमरेडहरु नेकपा माओवादी केन्द्र र नेकपा एस तथा राष्ट्रिय प्रजातन्त्र पार्टी र राष्ट्रिय स्वतन्त्र पार्टीलगायतकाको विश्वासको मत पाएनन् ।

जम्मा २६३ सांसद उपस्थित सभामा उनको पक्षमा १८८ मत थियो भने विपक्षमा ७४ मत मात्र परेको थियो । असार ३० गते प्रधानमन्त्री नियुक्त भएका ओलीलाई एकजनाले दिन्न भन्ने पक्षमा पनि मत हाले ।

तर, चौथो पटक प्रधानमन्त्री बनेका ओलीले विश्वासको मत माग्ने क्रममा आफ्नो शैली नछोडेपनि धेरै संयमितरुपमा प्रस्तुत भएका थिए ।

नयाँ राजनीतिक दललाई लक्षित गर्दै उनले आफनो शैलीअनुरुप कहिले नेल्सन मण्डेलको त कहिले ‘बाजे र नाती’को प्रसंग सुनाए । तर आक्रामक भएनन् ।

नयाँ दाबी गर्दै आएका राजनीतिक दलले पुराना राजनीतिक दललाई भ्रष्टाचारी तथा देश विगारेको आरोप लगाउँदै नेपालीमाथि अर्को बोइलिङ फ्रग एक्सपेरिमेन्ट गरिरहेको पुराना राजनीतिका घाग ओलीले नबुझ्ने कुरै भएन ।

त्यसैले ओलीले यसपटक आफ्ना चिर परिचित प्रतिद्वन्द्वि नेकपा माओवादी केन्द्र तथा यसका सुप्रिमो प्रचण्डमाथि भन्दा पनि नयाँ दललाई बढी शब्द खर्च गरे ।

असार १७ गते सोमबार मध्यराती नेपाली काँग्रेसका सभापति शेरबहादुर देउवा र आफूबीच संविधान संशोधनसहितका विषयमा भएको सम्झौता वाचन गर्दै ओलीले नेपाल राजनीतिको नयाँ चरणमा प्रवेश गरेको दावी गरे । उनले भने, ‘यो नेपालको राजनीतिमा नयाँ चरण हो ।

‘अ न्यू च्याप्टर इन नेपाली पोलिटिक्स ।’

तर, उनले आफ्ना भनाइ सिद्ध गर्न बाँकी छ । धेरैलाई अझै पनि लागेको छ, मध्यरातमै वृद्ध नेताहरुले हतार हतार नयाँ गठबन्धनको सहमति किन गर्नु पर्यो ? एक रात रोक्नै नसक्ने के त्यस्तो बाध्यता थियो नेताहरुलाई ?

दुई ठूला दलबीच केहि महिनाअघि देखि नै छलफल चलिरहेको भएपनि दुई दलका शीर्षस्थ नेता केपी शर्मा ओली र शेरबहादुर देउवाले सोमबार मध्यराति सवा १२ बजे सहमतिपत्रमा हस्ताक्षर गर्नु पर्ने बाध्यताको बारेमा राजनीतिक वृत्तमा धेरै चर्चा परिचर्चाले अझै केहि समय बजारमा तरंगित हुन्छ नै ।

घटनाक्रम अनुसार, एमालेवृत्तमा यस्तो पनि चर्चा छ ।

असार ११ गते राती उपमहासचिव विष्णु रिमालको नेतृत्वमा नेकपा एमालेका २९ नेताहरू १० दिनको चीन भ्रमणमा गए ।

चिनियाँ कम्युनिष्ट पार्टी (सीपीसी) विदेश विभागको निमन्त्रणमा एमाले नेताहरू चीन गएका हुन् । भ्रमणको क्रममा चिनियाँ कम्युनिस्ट पार्टीको उच्च तहसँग भेटवार्ता भयो ।

त्यसअघि नेकपा माओवादीका नेताहरू पनि चीन भ्रमणमा गएका थिए । चीन गएको टोली त्यहाँको विकासमा चिनियाँ सरकारले गरेको प्रगतिको अध्ययन गरेर फर्केको जनाएको थियो ।

अझ त्यसअघि पनि चिनियाँ कम्युनिष्ट पार्टीको निमन्त्रणमा महासचिव शंकर पोखरेलको नेतृत्वमा एमालेका नेताहरु चीन गएका थिए ।

यो तारान्तरको भ्रमणमा चीन नेपालमा फेरि एकीकृत नेकपा बनाउने मिसनमा थियो । नेकपा एमालेका उपमहासचिव विष्णु रिमालको नेतृत्वमा गएको नेकपा एमालेको टालीलाई चीनले एकीकृत नेकपाको एउटा रोडम्याप नै प्रस्तुत गर्यो ।

पूर्व राष्ट्रपति विद्या देवी भण्डारीको नेतृत्व ओली, माधव नेपाल तथा प्रचण्ड सबैलाई स्वीकार्य हुने हुनाले भण्डारीको अध्यक्षतामा एकीकृत नेकपा बनाउने ।

जब त्यो खबर ओलीलाई चीनबाट सुनाइयो । ओलीले चीन गएको टोली नफर्किँदै असार १७ गते मध्यराती नेपाली काँग्रेसका सभापति शेरबहादुर देउवासँग नयाँ गठबन्धन बनाउन सम्झौता गरे ।

तत्कालीन प्रधानमन्त्री पुष्पकमल दाहालको कन्फिडेन्सको कारण पनि चीनको एकीकृत नेकपा ब्युँताउने योजना थियो । यता दक्षिण आफूसँग कम्फर्टेबल नै थियो भने उता उत्तरले एकीकृत नेकपा ब्युउँताउन मद्दत गर्दै थियो । त्यसैले दाहाल ढुक्क थिए । तर, ओलीलाई विद्या भण्डारीको नेतृत्वको एकीकृत नेकपामात्र होइन प्रचण्ड र माधव नेपाल पनि स्विकार्य थिएन ।

यसले पूर्व राष्ट्रपति विद्या देवी भण्डारीको र ओलीको सम्बन्ध बिग्रेन त ? नेकपा एमालेका एक नेता पूर्व राष्ट्रपति विद्या देवी भण्डारीको र ओलीको सम्बन्ध नबिग्रेको दाबी गर्छन् ।

तर राजनीतिमा सम्बन्धभन्दा सत्ता ठूलो हुन्छ । जे होस् चौथो पटक ओली संसदमा फेरि करिब दुई तिहाइको बहुमतसहित प्रधानमन्त्री बन्दै गर्दा नेपाली नागरिकमाथि एकपटक फेरि बोइलिङ फ्रग एक्सपेरिमेन्ट नै भएको हो वा ओली सुध्रिएका हुन् । 

थाहा पाउन धेरै कुर्न पर्दैन !

(published first time: https://clickmandu.com/2024/07/328942.html)

Will 'Bishnu Bull' sustain?

The 'Bishnu Bull' is in rage as the Nepal Stock Exchange (Nepse) index posted gains of 59.68 points on the last trading day of the week

Not only the index, but the transaction amount has also seen surge to Rs 15.54 billion in a day's trading, today.

The share market has been looking upwards, since the appointment of new finance minister Bishnu Prasad Poudel, on Monday.

As in the past, Bishnu Prasad Poudel has been a lucky finance minister for the share market this time too. The traders have, thus, named the surge in the market as the 'Bishnu Bull'.

However, the question is, 'will this Bishnu Bull sustain?'

May be, may not be.

But today the Nepse gained, as banking stocks surged significantly, closing trading at 2,424,32 points today.

The market has gained on Sunday, the first day of the trading in a week, but dipped on Monday, the second day.

But from Tuesday, the remaining three days, the market witnessed a surge of a total of 183.90 points, and closed at 2424.32 points, some 2.52 per cent higher from the opening.

Share prices of 143 companies advanced on the day, while 95 declined and five remained unchanged, according to the Nepse data. 

Share prices of five companies hit the positive circuit of 10 per cent whereas share prices of all 19 commercial banks increased on the day, with Nepal Investment Mega Bank (NIMB) hitting the positive circuit of 10 per cent.

Likewise, Nepal Finance logged the highest turnover of the session with Rs 424.68 million worth of shares traded. 

Upper Tamakoshi Hydropower and Ngadi Group Power followed Nepal Finance with turnovers of Rs 389.10 million and Rs 303.26 million, respectively.

The Finance and Hydropower sub-indices posted losses, while remaining 11 sub-indices closed the day in the green.

The biggest gain came from the Banking sub-index, which was up by a massive 6.28 per cent, though the balance sheets of the banks are not expected to show any significant gain.

Microfinance and Others sub-indices, with gains of 2.77 per cent and 203 per cent, respectively, followed the Banking sub-index. 

"Today, shares worth Rs 15.54 billion were traded on the bourse through 184,712 transactions," according to the Nepse.

अर्थमन्त्रालयमा विष्णु पौडेलको पाँचौ इनिङ : अर्थतन्त्रको ‘स्लो पिच’मा हान्लान् त छक्का ?

सुन्दा अचम्म लाग्न सक्छ । तर, नेपालमा यो सामान्य हो । नेपाली काँग्रेसका सभापति शेरबहादुर देउवा पाँच पटक प्रधानमन्त्री भईसकेका छन् भने सोमबार केपी शर्मा ओलीले चौथो पटक प्रधानमन्त्रीको सपथ ग्रहण गरे ।

ओलीले चौथो पटक प्रधानमन्त्रीको सपथ ग्रहण गर्दा उनका सारथी विष्णु पौडेलले पाँचौ पटक अर्थमन्त्रीको सपथ ग्रहण गरेका छन् ।

ओली मन्त्रीपरिषदमा उपप्रधानमन्त्रीसहितको कार्यभार सम्हालेका पौडेलको सिंहदरबार यात्रा २०५३ सालमै सुरु भएको हो । २०५३ सालमा प्रधानमन्त्री लोकेन्द्रबहादुर चन्दको मन्त्रीपरिषदमा युवा, खेलकुद तथा संस्कृति मन्त्री बनेर मैदानमा उत्रिँदा पौडेल युवा नै थिए ।

त्यसैले २०८१ साल असार ३१ गते करिब तीन दशकपछि आठौं पटकको सिंहदरबार यात्रालाई अविस्मरणीय बनाउन उनी कति प्रतिबद्ध छन्, त्यो त आगामी दिनले देखाउला नै ।

किनकि यसअघि २०७९ पुसमा चौथो पटक अर्थमन्त्री बनेका पौडेलेको कार्यकाल छोटो रह्यो । तर, यसपटक उनी उपप्रधान तथा अर्थमन्त्री बन्दा पनि अनौठो संयोग बनेको छ ।

अघिल्लो दिन आइतबारसम्म पनि अध्यक्षले चाहे सघाउन सरकारमा जान तयार रहेको तर आफ्नो मन्त्री बन्ने धेरै इच्छा नभएको बताएका पौडेलले यसपटक अर्थमन्त्री पाउने/नपाउनेमा ढुक्क थिएनन् ।

यसपटक नेकपा एमालेले मन्त्री छान्ने सबै जिम्मा अध्यक्ष केपी शर्मा ओलीलाई दिएको थियो । अध्यक्ष ओलीले आफ्नो सरकार सफल बनाउन अर्थमन्त्रीमा कस्ता सारथी छान्लान् भन्ने धेरैको आ-आफ्नै अनुमान थिए । किनकि, पछिल्ला वर्षहरुमा अर्थमन्त्रीका धेरैजसो निर्णय नीतिगत भ्रष्टाचारमा लिप्त हुन थालेपछि अर्थ मन्त्रालय विवादमा आउने गरेको छ । र समग्र सरकार नै परिवर्तन भएको चर्चा राजनीतिक वृत्तमा व्यापक छ ।

त्यसमाथि अर्थतन्त्रको सुधारमा दह्रो मुटु राखेर अगाडि बढ्नु पर्ने अप्ठयारो परिस्थितीमा अर्थमन्त्री विभिन्न ब्यापारिक घराना तथा स्वार्थ समूहको खेलौना भएका कारण पनि पछिल्ला वर्षहरुमा अर्थमन्त्री बदनाम भएका छन् भने अर्थ मन्त्रालय आफ्नो निर्दिष्ट तथा लक्षित कार्यक्रम एवं बजेट कार्यान्वयनमा असफल हुँदै गएको छ । जसकारण समग्र निजी क्षेत्रको मनोबल घट्दै गएको छ, नेपालमा ब्यावसायिक वातावरण बिग्रँदै गएको छ ।

स्वाभाविक हो, अर्थतन्त्रमा ८१.५५ प्रतिशत योगदान दिने निजी क्षेत्रको मनोबल घटेपछि अर्थतन्त्र चलायमान हुन सकेको छैन । मनोबल बढ्न नसकेपछि निजी क्षेत्र लगानी गर्न हच्किएको छ । त्यसैले मुलुकमा नयाँ रोजगारी सिर्जना हुन सकेको छैन भने सरकारको आम्दानी राजश्व पनि बढ्न सकेको छैन ।

चालु अर्थिक वर्षका लागि सरकारले १४ खर्ब २२ अर्ब रुपैयाँ राजश्व उठाउने लक्ष्य राखेकोमा आर्थिक वर्षको अन्तिम दिन असार ३१ गते सोमबार (आजसम्म) १० खर्ब ३० अर्ब रुपैयाँमात्र उठाउन सफल भएको छ ।

चालु आर्थिक वर्षको राजश्व उठ्तीको प्रवृत्ती हेर्दा राती १२ बजेसम्ममा लक्ष्यको ७५ प्रतिशत राजश्व उठ्ने देखिन्छ । एकातिर विकास निर्माणका लागि सरकारलाई स्रोतको अभाव बढ्दै गएको छ भने अर्कोतिर राजश्व परिचालनमा अर्थ मन्त्रालय आसफल बन्दै गइरहेको परिप्रेक्ष्यमा अर्थमन्त्रीका रुपमा पौडेलको पाँचौ कार्यकाल चुनौतीले भरिपूर्ण रहेको छ ।

सरकारले राजश्व आम्दानी गर्न नसकेको मात्र होइन बजेट खर्च गर्न पनि सकेको छैन । खर्च भएका बजेट उत्पादक तथा अर्थतन्त्र चलायमान बनाउनेभन्दा पनि अनुत्पादक तथा अनौपचारिक अर्थतन्त्रलाई बढावा दिने प्रकृतीका छन् ।

त्यसैले अर्थमन्त्री पौडेलले निश्चित ब्यापारिक घराना हेरेर होइन, समग्र निजी क्षेत्रलाई नै प्रतिस्पर्धी बनाउने नीति ल्याउन सके मात्र मुलुकमा आर्थिक गतिविधि चलायमान हुन्छ ।

चालु आर्थिक वर्षमा बाह्य क्षेत्रमा सुधार भएको भए पनि अर्थतन्त्रको आन्तरिक क्षेत्र सुस्त नै छ । हुन त बाह्य क्षेत्र सुधारमा पनि सरकारको कुनै पनि प्रत्यक्ष्य योगदान छैन ।

किनकि, मुलुकमा रोजगारी नभएर विदेशीएका युवाले पठाएको रेमिट्यान्सको भरमा बाह्य क्षेत्रमा सुधार भएको हो । हालको रेमिट्यान्स आयको प्रवृत्ति हेर्दा विदेशिएका युवाले चालु आर्थिक वर्षमा १५ खर्ब रुपैयाँ रेमिट्यान्स पठाउने देखिन्छ ।

त्यसैले सरकारको ब्यवसायमैत्री नीतिले उत्पादन बढेर निर्यात प्रबर्धन भएर वा पर्यटन पूर्वाधारको विकासले पर्यटकको आगमन उल्लेख्यरुपमा बढेर बाह्य क्षेत्रमा सुधार भएको भए यसको दीगोपनाको वा सरकारको योगदानको चर्चा गर्न सकिन्थ्यो । तर, स्थिति त्यस्तो छैन ।

जनसंख्याको ठूलो हिस्सा विदेशिएका कारण पनि बजारमा माग सिर्जना हुन सकेको छैन । माग सिर्जना नहुँदा उत्पादनमा पनि संकुचन आएको छ । उद्योगहरु पूर्णक्षमतामा संचालन हुन सकेका छैनन् । जसको कारण अर्थतन्त्र एउटा गोलचक्करमा फसेको छ ।

तसर्थ पनि अर्थमन्त्रीमा पाँचौ इनिङ पौडेलको लागि फलामको च्यूरा सावित हुने अनुमान गर्न सकिन्छ ।

बाह्य क्षेत्रको सुधारको दीगोपनामा शंका भए पनि बाह्य क्षेत्र सुधारीएको फाइदा लिएर आन्तरिक क्षेत्र सुधारमा प्रयत्न गर्न सकिन्थ्यो । तर, नेपालको दुर्भाग्य, अर्थतन्त्र सुधार गर्ने दह्रो मुटु भएको अर्थमन्त्री पाउनै सकेन देशले ।

अर्थमन्त्रीहरु ब्यापारिक घरानाका मुन्शी वा स्वार्थ समूहको नीतिगत भ्रष्टाचारका साक्षीमात्र भएका कारण सिंहदरबारमा फोटो झुण्ड्याउने बाहेक खासै केहि उल्लेखनीय काम गर्न सकेनन् । कसै कसैले केहि गर्न खोजे पनि प्रधानमन्त्री हावी भए ।

त्यसैले, २०६४ सालदेखि पछिका सबैजसो सरकारको नीति अर्थतन्त्र सुधार गर्नेभन्दा पनि राज्यका स्रोत साधन दोहन गर्नमा केन्द्रीकृत भएका कारण अर्थतन्त्र चलायमान हुन सकेन । अझ २०७४ साल पछि त खुलेआम नीतिगत भ्रष्टाचार संस्थागत हुन थाल्यो ।

उदाहरणको लागि हेरौं न, एउटा नियामक निकाय धितोपत्र बोर्डको अध्यक्ष चयनमा वर्तमान तथा पूर्वप्रधानमन्त्री र अर्थमन्त्रीको अनावश्यक र रहस्यमय रुची, राजनीतिक खेलकुद तथा हस्तक्षेप ।

त्यसैले, अर्थमन्त्रीका रुपमा पौडेलले मुलुकमा उद्यम गरेर खाने वातावरण बनाउँदा कुनै पनि ब्यावसायिक घरानाको स्वार्थमा धक्का पुग्दैन । बरु झन् ब्यवासायिक घरानाको पनि बजार बढ्छ भनेर बुझाउन सके भने उनको कार्यकाल आधा सफल हुन्छ ।

त्यसपछि, बढ्दो चालु खर्च र चालु खर्चको प्रोडक्टिभिटी र इफिसियन्सीमाथि निर्मम समीक्षा जरुरी छ ।

आर्थिक वर्ष २०८१/८२ देखि सरकारले विगतमा लिएको आन्तरिक तथा बाह्य ऋणको साँवाब्याज तिर्नमात्रै ५ खर्ब रुपैयाँभन्दा बढी खर्च हुने देखिन्छ । २०७४ मा ओली प्रधानमन्त्री भएपछि अन्धाधुन्धा ऋण लिने र अनुत्पादक क्षेत्रमा खर्च गर्ने कुप्रथा सुरु भएको थियो ।

ओलीको ४३ महिने कार्यकालमा पाैडेल पनि छोटो समय अर्थमन्त्री बनेका थिए । र, त्यो ४३ महिनामा २५० प्रतिशतले ऋण बढेको थियो । सार्वजनिक ऋण व्यवस्थापन कार्यालयको तथ्यांकअनुसार आर्थिक वर्ष २०७३/७४ मा ६ खर्ब ९७ अर्ब ६९ करोड रुपैयाँ बराबर रहेको राष्ट्रिय ऋण १६ खर्ब पुगेको थियो । अहिले राष्ट्रिय ऋण २४ खर्ब रुपैयाँ नाघिसकेको छ ।

विगतमा पार्टी महासचिव र अर्थमन्त्रीकारुपमा अन्धाधुन्ध राष्ट्रिय ऋण लिनका लागि रोक्न पाैडेलले खासै भूमिका खेलेको देखिँदैन ।

अर्कोतिर २०५१ सालमा तत्कालीन मनमोहन अधिकारीको सरकारले वृद्धभत्ता बाँडेर वाहवाही कमाएको थियो । नेकपा एमालेले यसैलाई बेचेर अहिलेसम्म पनि राजनीतिक लाभ लिइरहेको छ । त्यसपछिका अन्य सरकारले पनि वृद्ध तथा सामाजिक सुरक्षा भत्ता बढाउन प्रतिस्पर्धा गर्दा अहिले राष्ट्रको ढुकुटीबाट वार्षिक ३ खर्ब रुपैयाभन्दा बढी खर्च हुँदै आएको छ ।

राष्ट्रिय आम्दानी बढाउन ध्यान नदिने र आफ्नै खल्तीको जसरी राष्ट्रको ढुकुटीको पैसा बाँड्ने विकृति अब देशले धान्नसक्ने अवस्था छैन । आफ्नै पार्टी एमालेले ल्याएको सामाजिक सुरक्षा भत्ताकाे दायित्व प्रधानमन्त्री ओली र अर्थमन्त्री पौडेललाई फलामको च्यूरा बन्ने खतरा छ ।

के विष्णु पौडेलले चलायमान बनाउलान् त अर्थतन्त्र ?

त्यसैले, नेपालमा यतिखेर प्रधानमन्त्रीको हस्तक्षेपबिना काम गर्न सक्ने, निजी क्षेत्रमैत्री तथा जोखिम लिन सक्ने अर्थमन्त्री चाहिएको छ । पौडेलले आफ्नो पाँचौ कार्यकाल सुरु गर्दै गर्दा यी चुनौती कसरी सामना गर्दछन्, त्यसैबाट उनको यो कार्यकालको समीक्षा हुनेछ ।

किनकि, पौडेललाई सुस्ताएको अर्थतन्त्रलाई चलायमान बनाउने चुनौती एकातिर छ भने नीतिगत भ्रष्टाचारसँग लड्दै जोखिम लिएरै भएपनि अर्थतन्त्रका संरचनागत सुधार गर्ने अर्को चुनौती छ ।

निर्माण व्यवसायीका भुक्तानीका समस्या, लघुवित्त र सहकारीका समस्याजस्ता अर्थतन्त्र र बजारलाई सिधै तल्लो तहमा समेत संकट पारेका क्षेत्रको उद्दार गर्न उनी कति केन्द्रित हुन सक्छन् र प्रधानमन्त्रीको कत्तिको साथ पाउँछन्, त्यसले उनलाई सफल वा असफल बनाउने स्पष्ट छ ।

सपथग्रहण गरेर पौडेल अर्थमन्त्रालय पस्दा चालु आर्थिक वर्षको अन्तिम दिन परेको छ । नयाँ आर्थिक वर्षसँगै बजेट कार्यान्वयन गर्ने अर्को चुनौती पौडेलमा छ । अघिल्ला अर्थमन्त्री वर्षमान पुनले केहि स्वार्थी समूहको लागि परिवर्तन गरेका आर्थिक ऐनलाई पौडेलले कसरी समायोजन गर्दछन्, त्यसले पनि उनको कार्यकालको समीक्षा हुनेछ ।

बजेट आइसेकेको भए पनि आगामी आर्थिक वर्षको मौद्रिक नीति ल्याउने तयारीमा नेपाल राष्ट्र बैंक छ । मौद्रिक नीतिले वित्त नीतिलाई सघाउने हो । किनकि, मौद्रिक नीतिका निश्चित सीमा हुन्छन् । बाह्य क्षेत्र बलियो भयो भनेर माैद्रिक नीतिमार्फत सस्तो ब्याजमा बजारमा वालछ्याल पैसा पठाउँदा देशको अर्थतन्त्रमा कस्तो संकट आउँछ भनेर हेर्न अन्त कतै जानु पर्दैन ओली प्रधानमन्त्री भएको बेला गभर्नर महाप्रसाद अधिकारीले ल्याएको पहिलो मौद्रिक नीति हेरे पुग्छ ।

अहिले विगतमा जस्तो मौद्रिक नीति चलाउन सक्ने अवस्थामा अर्थमन्त्री छैनन् । किनभने, अन्तर्राष्ट्रिय मुद्रा कोषसँग ५० करोड अमेरिकी डलर सहायता लिन अर्थमन्त्री र गभर्नरले कडा शर्तमा सहमति जनाएका छन् । यतिसम्म कि कुनै पनि नयाँ नीति, नियम बनाउँदा आइएमएफसँग सल्लाह गर्ने शर्तमा हस्ताक्षर गरेका छन् ।

आइएमएफले नेपालको वित्तीय क्षेत्रको सुधारमा दबाब बढाउँदै लगेको छ । र, वित्तीय क्षेत्रको सुधारले मात्रै नपुगेको भन्दै वित्त क्षेत्रको सुधार गर्नुपर्ने पनि आइएमएफले सुझाव दिँदै आएको छ ।

पछिल्ला केहि वर्षदेखि बजेटभन्दा पनि मौद्रिक नीतिमा निजी क्षेत्रको चासो बढेको छ । वास्तवमा बजेट अर्थात् अर्थ मन्त्रालयको असफलताले निजी क्षेत्रको चासो मौद्रिक नीति अर्थात् राष्ट्र बैंकतर्फ बढेको हो । अर्थमन्त्रालयप्रति विश्वास जगाउन पौडेलसँग के योजना छ, यसले पनि उनको कार्यकालको समीक्षा हुनेछ ।

नेपालको अर्थतन्त्र आर्थिक कृयाकलापमा नभइकन जग्गा कारोबारी र बिचाैलियाको जालोमा फसेका कारण पनि अर्थमन्त्रीलाई अर्थविदभन्दा बिचौलियाले चलाएको धेरै अर्थविद्हरुको धारणा छ । त्यसैले संरचनागत परिवर्तन नभएसम्म अर्थतन्त्रले गति लिने विश्वास गर्न सकिन्न । यसका लागि आर्थिक सुधारको खाँचो छ । तर, राजनीतिक दलका कार्यकर्ता र बिचौलियाले घेरिएको अर्थमन्त्रालयले आर्थिक सुधार गर्न सक्दैन भन्ने आम सर्वसाधारणको बुझाइ छ ।

त्यसैले पनि पौडेललाई काम गर्न सहज छैन ।

र, यसकारण पनि पौडेलले अर्थतन्त्रको ‘स्लो पिच’मा खेल्न गाह्रो छ कि यो गठबन्धन सरकार हो । हुनत आर्थिक सुधारमा सत्ता सहयात्री नेपाली काँग्रेसको कुनै रोकावट नहुनु पर्ने हो । किनभने आर्थिक सुधार नेपाली काँग्रेसको पनि एजेन्डा हो । तर, नेपाली काँग्रेसभित्र पनि बिचाैलियाको ठूलै समूह छ जो अर्थतन्त्रको बारेमा पटक्कै चिन्तित छैन ।

तत्कालका लागि सुस्त भएको अर्थतन्त्रलाई चलायमान बनाउन सेयर बजार, जग्गा कारोबार र हायर पर्चेजले काम गर्ला । तर, दीर्घकालमा उत्पादन र उत्पादकत्व नबढाए सेयर बजार, जग्गा कारोबार र हायर पर्चेजले मात्र अर्थतन्त्रलाई धानेर राख्न सक्दैन । त्यसैले पनि सत्ता सहयात्री नेपाली काँग्रेसको पूर्णसहयोगमा आर्थिक सुधारका योजना बनाउनु पौडेलको पहिलो प्राथमिकता हुनुपर्छ ।

नेकपा एमालेका उपाध्यक्ष तथा एमाले र माओवादी केन्द्रबीच एकता भई नेकपा गठन हुँदा महासचिव भइसकेका पौडेलले ३० को दशकमा तत्कालीन मालेबाट राजनीतिक यात्रा सुरु गरेका थिए । उनी २०४७ मा एमालेको केन्द्रीय सदस्य बनेका थिए ।

त्यसैले राजनीतिमा पौडेल पुराना र अनुभवी खेलाडी हुन् । तर, निरन्तर बदलिँदो आर्थिक संरचना र सुस्त अर्थतन्त्रलाई चलायमान बनाउन यसपटक पौडेलले धेरै मिहेनत गर्नु पर्ने देखिन्छ ।

प्रतिनिधि सभा निर्वाचनमा रुपन्देही- २ बाट निर्वाचित पौडेलले अर्थतन्त्र सुस्त भएको बेलामा अर्थमन्त्रीको रुपमा आफ्नो करियरको पाँचौ इनिङ सुरु गर्दा राजनीतिक सुझबुझका साथै निर्मम भएर अर्थतन्त्र सुधारका काम गर्दा मात्र केपी ओलीको सरकारमात्र नभएर देश नै सफल हुन्छ ।

अन्यथा, नेपालको बजेटरी इतिहासमा पहिलो अर्थमन्त्री सुवर्ण शमशेरदेखि आजसम्म भएका अर्थमन्त्रीहरु कतिजनाको नाम नेपालीलाई याद छ र ?

अर्थनीतिको बेमेल

नेपाली काँग्रेस तथा नेकपा एमाले सम्मिलित सरकार बनेसँगै अब बजारमात्र होइन आर्थिक नीतिमा पनि समन्वयन गर्नु पर्ने हुन्छ। हुनत संविधानमा समाजवादउन्मूख अर्थतन्त्र लेखिएको छ । तर, राष्ट्रियता, प्रजातन्त्र र समाजवादको सैद्दान्तिक जगमा उभिएको नेपाली काँग्रेसको आर्थिक नीति २०४६ सालको परिवर्तनपछि उदार अर्थतन्त्रमा रुपान्तरित भएको छ । २०४८ सालदेखि नै नेपाली काँग्रेसमा समाजवादी धारका नेताहरुको पकड कम हुँदै गएको हो ।

२०४८ सालको नेपाली काँग्रेसका सभापति गिरिजा प्रसाद कोइरालको सरकारका पालमा लिइएको उदार अर्थनीतिका कारण नेपालको अर्थतन्त्रमा सकारात्मक परिवर्तनहरु धेरै भएको भए तापनि सामयानुकुल सुधार हुन नसक्दा तथा उदार अर्थनीति लागू गर्ने क्रममा भएका केही त्रुटीहरु समयमै नसच्याइएका कारण उदार अर्थनीति माथि पार्टीभित्रै बुझाइमा एकरुपता छैन ।

एउटै पाटीभित्रै त एकरुपता छैन भने नेकपा एमाले अर्थात् कम्युनिष्ट स्कुलिङबाट आएको पार्टीले नेपाली काँग्रेसको आर्थिक नीतिमा सहमति जनाउने सैद्दान्तिक आधार पनि छैन । तर, नेकपा एमाले सैद्दान्तिकरुपमा कम्युनिष्ट भए पनि उसका ब्यवहार तथा आर्थिक नीतिमा पनि एकरुपता छैन । र, काँग्रेसले गरेको निजीकरणलाई उद्योगधन्धा बेचेको आरोप लगाउँदै आएको छ । यस्तो अवस्थामा गठबन्धन सरकारले निजीकरणलाई कसरी एउटै दृष्टिले हेर्न सक्छ ?

यसैबिच, विपक्षी र आलोचकहरुले यो गठबन्धन काम गर्न नभइ भ्रष्टाचारका ठूला फाइल रोक्न र मिलिभगत राज्यकोषको दोहन गर्न बनेको आरोप लगाइसकेका छन् ।

प्रधानमन्त्री प्रचण्डले विश्वासको मत माग्दै यही असार २८ गते संसदमा भनेका छन्- ‘दुई पार्टी डरले जोडिनुभयो, त्यो सुशासनको डर हो । जुन परिस्थितिमा, जे कारणले कांग्रेस र एमाले मिल्न खोज्नुभएको छ, तपाईहरूको सहकार्यको सहमतिलाई जनताले अनुमोदन गरेको छ कि छैन, आफै मूल्याङ्कन गरिरहनुभएको होला । सामान्यतः लोकतन्त्रमा मुख्य प्रतिस्पर्धी दलहरू मिलेर सरकार बनाउँदैनन् । संसारभरिका इतिहासका अनुभवहरूले देखाएका छन्, त्यस किसिमका गठबन्धनले निरंकुशता र स्वेच्छाचारिता बढाएका छन्, लोकतन्त्रलाई कमजोर बनाएका छन् । त्यसैले सामान्यतः यस्तो अभ्यास हुँदै हुँदैन ।’

नेकपा एमालेको सैद्दान्तिक रुझान कम्युनिष्ट भए पनि पछिल्लो समय केपी ओली प्रधानमन्त्री भएपछिका दिनमा निजी क्षेत्रसँगको बढ्दो हिमचिमले निजी क्षेत्रमैत्री बन्ने प्रयास गरेको देखिन्छ । त्यसैले आजको दिनमा सरकारले चुरोट, जुत्ता बनाउने होइन, नीति बनाउने हो र निजी क्षेत्रलाई काम गर्न दिने हो भन्ने मान्यता नेकपा एमालेमा पनि विकसित भएको देखिन्छ ।

तर, सैद्दान्तिक आधार नभएका कारण नेकपा एमालेले निजी क्षेत्रमैत्री बन्दै गर्दा केहि त्रुटिहरु गरेको छ । २०७४ सालपछि केपी ओली प्रधानमन्त्री हुँदा निजी क्षेत्रको नाममा केहि ब्यापारिक घरानाको लागि फाइदा हुने नीति ल्याएका उदाहरणहरु प्रसस्त छन्। त्यसैमध्ये गिरीबन्धु टी स्टेटकाे विवाद भर्खरैमात्र छताछुल्ल भएकाे छ ।

त्यसैले पौडेललाई पाँचौ पटक अर्थमन्त्री बन्दा प्रधानमन्त्री ओलीको कत्तिको साथ रहन्छ भन्ने प्रश्न पनि महत्वपूर्ण छ । वा, अर्थमन्त्रीका रुपमा अहिलेको अर्थतन्त्रको समस्यालाई निकै गहिरोसँग बुझ्नेगरी अध्ययन गरेर जिम्मेवारी सम्हालेका छन् कि पहिलेको जस्तै ‘चलि त हाल्छ नि’ भन्ने सोचले आएका छन्, त्यो हेर्न कम्तिमा हनिमुन अवधि कुर्नैपर्ने हाेला ।

एकातिर गठबन्धन सरकारका सैद्दान्तिक, ब्यवस्थापकीय तथा ब्यावहारिक बाध्यता अर्कोतिर आफ्नै प्रधानमन्त्रीको हठीपनाका कारण अर्थमन्त्री पौडेलले अर्थतन्त्रको स्लो पिचमा कति रन बनाउलान् त ?

जबसम्म पिचमा दुबै खेलाडी एउटै गतिमा दौडेर रन लिने अनि एउटै लयमा ब्याटिंग गर्ने तादात्म्यता कायम गर्न सक्दैनन्, एउटै खेलाडीले मात्रै खेल जिताएको कमै रेकर्ड छ ।

तर, काँग्रेस-एमालेको गठबन्धनलाई विगतमाजस्तो अहिले गल्ती गर्ने छुट त छैन नै, त्यो भन्दा पनि ठूलो चुनाैति राम्रो काम गरेर युवाहरुको मन जित्नु र अर्थतन्त्रलाई ट्र्याकमा ल्याउनुपर्ने छ ।

होइन भने २०८४ को चुनाव सुखद् नहुने निश्चित छ !

पाैडेलकाे सत्ता यात्रा

२०८१ मा असार ३०, प्रधानमन्त्री केपी शर्मा ओली सरकारका अर्थमन्त्री

२०७९ मा प्रधानमन्त्री पुष्पकमल दाहाल सरकारका अर्थमन्त्री

२०७८ मा प्रधानमन्त्री केपी शर्मा ओली सरकारका अर्थमन्त्री

२०७७ मा प्रधानमन्त्री केपी शर्मा ओली सरकारका अर्थमन्त्री

२०७२ मा प्रधानमन्त्री केपी शर्मा ओली सरकारका अर्थमन्त्री

२०६७ मा प्रधानमन्त्री झलनाथ खनाल सरकारका रक्षामन्त्री

२०६५ मा प्रधानमन्त्री पुष्पकमल दाहाल सरकारका जलस्रोत मन्त्री

२०५३ मा प्रधानमन्त्री लोकेन्द्रबहादुर चन्द सरकारका युवा, खेलकुद तथा संस्कृति मन्त्री

(Published: https://clickmandu.com/2024/07/327198.html)

SAARC-ADB consultation workshop on climate change concludes

SAARC member states met in Thimphu from 10th to 11th July 2024 to review the status of the implementation of the Thimphu Statement on Climate Change 2010.

The member states discussed the national-level initiatives taken by each member state and exchanged best practices to fight climate change through regional cooperation.

The consultation workshop finalised a set of recommendations to take forward the implementation of the Thimphu Statement on Climate Change, according to a press note issued by the SAARC Secretariat in Kathmandu. "The findings and the recommendations will be adopted at the SAARC Intergovernmental Expert Group on Climate Change Meeting proposed to be held sometime later this year."

The SAARC Secretariat in Kathmandu facilitated the two-day long consultation workshop held with financial and technical support from ADB, the press note reads, adding that the chairperson of the Royal Civil Service Commission, formerly the director-general of the Department of Environment and Climate Change, Ministry of Energy and Natural Resources, graced the inaugural session of the workshop.

The 16th SAARC Summit held in Thimphu in 2010 adopted the Thimphu Statement on Climate Change towards a green and happy South Asia.

IMF completes the fourth review of ECF, releases Rs 5.51 billion

The Executive Board of the International Monetary Fund (IMF) on Tuesday completed the fourth review under the four-year Extended Credit Facility (ECF) for Nepal, allowing the authorities to withdraw the equivalent of SDR 31.4 million (about $41.3 million), which is approximately Rs 5.51 billion.

This brings total disbursements under the ECF for budget support thus far to SDR 188.3 million (about $247.7 million).

The ECF arrangement for Nepal was approved by the Executive Board on January 12, 2022 for SDR 282.42 million (180 per cent of quota or about $371.6 million).

Nepal has made good progress with implementation of the programme, which has helped mitigate the impact of the pandemic and global shocks on economic activity, protect vulnerable groups, and preserve macroeconomic and financial stability, a press note issued by the IMF reads.

The programme is also helping to catalyse additional financing from Nepal’s development partners.

The economy continues to face challenges as growth, projected around 3 per cent in fiscal year 2023-24, remains below potential in the context of subdued domestic demand and post-pandemic balance sheet repairs, it reads, adding that economic activity is expected to pick up with growth reaching 4.9 per cent in the fiscal year 2024-25, supported by stronger domestic demand. "The cautiously accommodative monetary policy stance, planned increase in capital expenditure in the fiscal year 2024-25 budget, additional hydropower generation, and a continued increase in tourist arrivals are expected to boost domestic demand and growth."

Inflation is expected to remain within the Nepal Rastra Bank’s (NRB) target ceiling of 5.5 per cent, it adds.

However, the IMF warns of domestic risks dominating the outlook.

"Failure to raise the execution rate of capital projects would deprive the economy of much-needed stimulus and weigh on growth," it warns, adding that fragile political stability could disrupt policy continuity and reform implementation. "Intensification of financial sector vulnerabilities such as a further rise in NPLs or more failures of cooperative lenders could endanger banking system soundness."

Externally, high commodity prices could slow the recovery in energy-intensive sectors. Nepal remains vulnerable to natural disasters.

“Nepal has made important strides on its economic reform agenda," said deputy managing director and acting chair Bo Li, following the Executive Board discussion.

"Decisive actions in monetary policy, bank regulation and rolling off Covid support policies played a major role in overcoming urgent balance of payments pressure in fiscal year 2021-22," Li said, adding that reserves continue to rise without the need to use distortive import restrictions. "Fiscal discipline was maintained in fiscal year 2022-23 and so far in fiscal year 2023-24, despite revenue shortfalls. "Bank supervision and regulation have improved with the rolling out of new supervisory information systems, the Working Capital Loan Guidelines and Asset Classification Regulations."

Nepal’s medium-term outlook remains favourable as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth.

“With growth below potential, executing the planned increase in capital spending, as envisaged in the fiscal year 2024-25 budget, while maintaining fiscal discipline through domestic revenue mobilisation and rationalisation of current spending remains critical to boost growth and preserve medium-term fiscal sustainability," Li said, adding that strengthening public investment management will support the needed boost to capital spending. "Enhancing fiscal transparency will help contain fiscal risks and further strengthen medium-term fiscal sustainability."

“As monetary policy transmission is still weak in a context of balance sheet repair, a cautious and data dependent monetary policy remains appropriate to preserve price and external stability," he adds.

Saying that continuing to strengthen Nepal’s financial system remains a top priority, he said, financial policy should remain vigilant and focused on building regulatory frameworks that promote sustainable credit growth while proactively addressing emerging vulnerabilities in the savings and credit cooperatives sector. "Maintaining recent reforms regarding lending practices and asset classification is important as preparations for the loan portfolio review of the ten largest banks continue."

The IMF also welcomed Nepal’s commitment to strengthen its AML/CFT framework. "Amendments to a set of fifteen laws, including on money laundering, have been recently enacted—and secondary legislation is under preparation—to bring Nepal’s AML/CFT legal framework in line with international standards, Li said, "It remains critical to ensure the effectiveness of the new legal framework."

The IMF has also suggested reforms to implement the 2021 IMF Safeguards Assessment recommendations regarding the Nepal Rastra Bank (NRB) Act and NRB audit are a priority.

“Continued progress on the structural front remains needed to foster investment and more inclusive growth," Li said, adding that these include improving the business climate, building human capital, and continuing to improve social safety nets, in particular aiming for full execution of the child grant budget, followed by an expansion of the programme to all districts in Nepal.

World Bank senior managing director visits Nepal

The World Bank’s senior managing director Axel van Trotsenburg arrived in Kathmandu today on his first official visit to Nepal, to meet with government and other stakeholders and chair the Third Replenishment meeting of the World Bank’s fund for low-income countries, the International Development Association (IDA).

As part of his five-day visit, today, Trotsenburg met with Prime Minister Pushpa Kamal Dahal, finance minister Barsha Man Pun, chief secretary Baikuntha Aryal, and development partners.

Trotsenburg will chair the Third IDA21 Replenishment meeting hosted by the government in Kathmandu on June 18-21. The International Development Association (IDA) is the part of the World Bank that helps the world’s low-income countries.

In 2024, IDA is working with donors and borrowing countries to replenish resources that will be used to deliver on global development goals. IDA21-- the 21st replenishment round since 1960 -- will work to end poverty on a livable planet.

The four-day IDA21 meeting in Kathmandu will bring together officials from 65 donor governments and representatives of borrowing member countries who will discuss the proposed IDA21 policy focus areas--people, planet, prosperity, infrastructure, and digitalisation. They will also look at financing scenarios, the level of donor contributions required to support these scenarios and assess the financing needs of countries supported by IDA.

Trotsenburg will also visit the IDA-financed Earthquake Housing Reconstruction Project in Rabiopi in Bagmati Province as part of the replenishment meeting.

The Third IDA21 Replenishment meeting will also be attended by other senior World Bank Group officials, including World Bank managing director for Operations Anna Bjerde and managing director and World Bank Group chief financial officer Anshula Kant.

Government is removing VAT on air tickets

The government is working on removing the value added tax (VAT) on air tickets, according to the tourism minister.

Addressing the Pacific Asia Travel Association (PATA) Nepal Chapter successfully concluded its 45th Annual General Meeting (AGM) here today, the chief guest Minister of Culture, Tourism, and Civil Aviation Hit Bahadur Tamang committed to working towards removing VAT on air tickets and other unnecessary taxes in tourism to encourage and enhance the highly potential and rewarding tourism sector.

Shared the government’s target of attracting 1.6 million tourists in 2024 and inviting the private sector to introduce new and creative tourism products in international source markets to boost tourist influx Tamang also expressed his happiness at the unanimous election of the new executive committee of PATA Nepal Chapter, noting that such unity is rare among institutions and organisations in the country nowadays.

PATA Nepal Chapter successfully concluded its 45th Annual General Meeting (AGM) today at Park Village Resort under the theme 'Nepal Tourism 2.0: Charting the Future Course.'

The AGM also unanimously elected the new executive committee, with Khem Raj Lakai, chief executive of the Global Academy of Tourism and Hospitality Education (GATE), as chairman. He succeeds Bibhuti Chand Thakur, who was elected chairman on December 18, 2019, and remains in the executive committee as the Immediate Past chairman.

“I am deeply honoured and humbled by this opportunity," said Lakai after his appointment as chair of PATA Nepal Chapter. "It is with profound gratitude and a great sense of responsibility that I step into the role of chairman of PATA," he said, adding, "Being entrusted with the legacy of this esteemed institution is a privilege."

Lakai's association with PATA spans several years in different positions including as a board of trustee of the PATA Foundation, and PATA HQ elected Board member, including extensive service within the PATA Nepal Chapter.

PATA Nepal founding father the late Prabahakar SJB Rana, who brought this wonderful organisation to Nepal and continuously nurtured by amazing leaders of our industry has been honoured on the occasion.

Rana's vision of connecting Nepal to the world now rests on our shoulders, Lakai said, adding that unity is crucial for Nepal in all spectrum of professions. "Once united, we can transform the narrative of our beautiful nation and inspire the world."

Accordingly, the AGM also unanimously elected general secretary Narendra Dev Bhatta (managing director of Heritage Tours and Travel), treasurer Reetal Rana (managing director of Mid Valley International College), and executive members including Lakhpa Phuti Sherpa (founder of Luxury DMC Travel), Rupesh Joshi (director of Buddha Air), Binod Adhikari (director of Aarya village Travels), Sunil Bahadur Bhattrai (executive director of Busy Bee Cafe), Himmat Puri (director of Destinago Tours and Travel), Sarita Lama (managing director of Off The wall Trekking) and Tenzing Peyang  Lama (director of Hotel Lhasa International (Dusit Princess Kathmandu).

During the AGM, PATA Nepal Chapter also elected 4 proxy members to its executive committee including Smritee Kala Pant  (head of BHM/BHTM of Little Angels’ College of Management), Prakash Chandra Lohani (chairman of Alpine Rescue Service), Suman Ghimire (executive director of Jungle Safari lodge), and Imu Regmi (director of Basera Boutique Hotel). 

The executive committee also comprises of 4 Ex officio members including director general of Department of Tourism, director general of Civil Aviation Authority of Nepal, corporate director of Nepal Airlines, and representative of Nepal Tourism Board (NTB).

During the formal function and Annual Award Presentation Ceremony in the evening, PATA Nepal Chapter awarded Ambica Shrestha (president of Dwarika's Hotels and Resorts) and Shyam Bahadur Pandey (founder of Hotel Shangrila) with the prestigious 'PATA Lifetime Achievement Award 2024'.

The recognition honours their devoted years of exceptional voluntary service, leadership, significant contributions, and invaluable dedication to the association and the tourism and hospitality industry in Nepal, according to a press note issued by the PATA Nepal Chapter.

Likewise, Lakpa Sonam Sherpa (chairman of Yeti Group) has been rewarded with 'PATA Tourism Trailblazer Award 2024' for his exceptional leadership, pioneering initiatives, and outstanding contributions to promoting, expanding, and developing the tourism industry in Nepal.

Bharat Basnet (founder of Explore Nepal) has been bestowed with the 'PATA Personality of the Year 2024' Award for his unconditional support, persistent activism, advocacy, and commendable engagement towards the promotion and sustainable development of Nepal's tourism sector, as well as his invaluable contributions to the association over the years. 

Similarly, Narendra Deo Bhatta (founder of Heritage Tours and Travels) was honoured with the 'PATA Special Contribution Award 2024' for his unwavering commitment and remarkable contributions to Nepalese tourism, as well as his exceptional legal guidance and support to the association.

Likewise, The Premiere Hotel School, Itahari, received the 'PATA Best Student Chapter of the Year 2023' Award in recognition of their dedication and contributions in engaging with the initiatives and events of the PATA Nepal Chapter throughout 2023.

During the programme, Prof Dr Wolfgang Georg Arlt (founder of Meaningful Tourism Center) delivered the keynote speech on 'Nepal Tourism 2.0,' sharing the manifesto of outcomes from the Experts Roundtable Meet organised by the PATA Nepal Chapter yesterday (June 5).

On behalf of the Meaningful Tourism Center based in Germany, he presented the Meaningful Tourism Award (Gold) to the Community Homestay Network, Tiger Mountain Pokhara Lodge, and KGH Group of Hotels and Resorts.

Similarly, the Nepal Academy of Tourism and Hotel Management received the Meaningful Tourism Award (Silver), while the Nepal Airlines Corporation and Hotel Himalaya received the Meaningful Tourism Award (Bronze).

The outgoing chairman Bibhuti Chand Thakur extended thanks to all the members and stakeholders of Nepal's tourism for the continued collaboration and support to the association; inviting and requesting all present to work together for sustainable growth and development of tourism in the country.

Government and World Bank launch $4.6 million project to strengthen response to gender-based violence

The Institutionalising Gender-Based Violence Response in Federal Nepal Project was jointly launched today by the minister of Women, Children, and Senior Citizens Bhagbati Chaudhary and World Bank country director for Maldives, Nepal, and Sri Lanka Faris Hadad-Zervos.

The three-year project will help increase women’s and girls’ access to multisectoral gender-based violence (GBV) response services such as legal aid, psychosocial counseling, and medical support in six municipalities in Koshi and Lumbini provinces, a press note issued by the World Bank reads, adding that it aims to benefit 49,000 women and girls who have experienced violence through better access to quality services.

“Addressing gender-based violence is a priority for the government of Nepal," minister of Women, Children, and Senior Citizens Bhagbati Chaudhary said, adding that the project will help establish a functioning coordination system to link GBV response mechanisms at the municipal, provincial, and federal levels.

The project is financed by a $4.6 million grant from the State and Peacebuilding Trust Fund and will be implemented by the Ministry of Women, Children, and Senior Citizens.

The project will help strengthen institutional frameworks and capacity, pilot innovative GBV service models with a focus on improving service coverage and quality, and promote behavior change among first responders and local stakeholders for improved GBV response.

“This project will help empower women and girls to readily access GBV services, report violence, and seek help, especially in the most remote and hard to reach areas," World Bank country director Faris Hadad-Zervos said, adding that it is key to supporting Nepal’s development that is green, resilient, and inclusive.

The government and the World Bank signed the financing agreements for the project on April 24, 2024.

Foreign trade contracts by 2.55 per cent

As the country is engaged into political tug of war, all is not good in economy.

According to the foreign trade data published by the Department of Customs today, imports fell by 2.39 per cent to Rs 1,303.35 billion over the first 10 months of current fiscal year, compared to Rs 1,335.32 billion in the same period last fiscal year.

Likewise, exports also dropped down by 3.61 per cent in the same period.

Despite government's tall claims, foreign trade has been sluggish since the beginning of the current fiscal year, and has still not been able to pick up its pace.

Nepal exported goods worth Rs 126.17 billion in the 10-month of the current fiscal year, compared to Rs 130.90 billion in the same period last fiscal year, the data reveals.

With the drop in imports and exports, total foreign trade also shrink by 2.55 per cent to Rs 1,429.53 billion in the first 10 months of the current fiscal year 2023-24, compared to Rs 1,466.22 billion in the same period of the last fiscal year.

Likewise, the share of exports in total foreign trade shrank to 8.83 per cent, compared to 8.93 per cent in the first 10 months of 2022-23, it reveals, adding that the share of imports, however, increased to 91.17 per cent compared to 91.07 per cent in the first 10 months of the last fiscal year.

Though, Nepal has been trading with 168 countries, the country enjoys a trade surplus with only 34 countries. "Nepal enjoys the highest trade surplus of Rs 385.84 million with Denmark, followed by Afghanistan (Rs 262.01 million) and Norway (Rs 113.66 million)."

Nepal suffered the highest trade deficit of Rs 1,177.18 billion with India, that largest trading partner, followed by China (Rs 729.70 billion) and the UAE (Rs 238.55 billion).

Nepal imported goods worth Rs 1,303.35 billion from India while it exported goods worth Rs 126.17 billion to the southern neighbour.

Likewise, Nepal imported Rs 815.72 billion worth goods from China, whereas exported goods worth Rs 86.02 billion to the northern neighbour.

Petroleum products are, as always, Nepal's largest imports as the country imported diesel, petrol, and liquefied petroleum gas (LPG) with a combined value of Rs 218.48 billion in the 10 months period of the current fiscal year. "Raw materials for steel industries and smartphones were the other biggest imports."

The report also reveals that readymade carpets are Nepal's largest export with export earnings of Rs 8.79 billion, followed by black cardamom (Rs 6.91 billion) and palm oil (Rs 5.62 billion).

Nepal marks 20 years in WTO: Experts highlight trade deficit and lack of competitive edge

Experts today said that Nepal has not been able to reap the expected benefits after becoming a member of the World Trade Organisation (WTO).

Registrar of Kathmandu University Prof Dr Achyut Wagle, on the occasion, highlighted the increasing trade deficit every year and Nepal's inability to compete in trade as the main problems. He emphasised that such issues should be discussed continuously and that every policy and rule should be based on research and data.

Likewise, former vice chair of the National Planning Commission (NPC) and economist Prof Dr Biswo Poudel, speaking at a discussion '20 Years of Nepal's Accession to WTO' organised jointly by Kathmandu University School of Management (KUSOM) and the WTO Chairs Programme (WCP) today, echoed the sentiments, stating that world trade has not yielded the desired benefits for Nepal.

"Despite adopting open market policies, these have not contributed positively to Nepal's trade," he said, adding that the agriculture and energy sectors have particularly suffered from huge trade deficits.

Poudel also noted the significant role of India and China in Nepal's international trade and suggested that bilateral trade should gradually evolve into regional trade. Stressing the need to prioritise the industrial sector, as the service sector's share is increasing while both agriculture and industry sectors' contributions are decreasing, he said, that currently, agriculture and petroleum products account for 40 per cent of Nepal's total trade deficit.

Member Secretary of the NPC Dr Toya Narayan Gyawali, on the occasion, acknowledged some benefits from WTO membership but pointed out Nepal's failure to produce competitive goods, resulting in a high trade deficit.

He recounted Nepal's 34-year journey to WTO membership, which was achieved in 2004 as the 147th country. Despite being a least developed country, Nepal has struggled to leverage some benefits of WTO membership.

Gyawali mentioned that while trade policies were previously unpredictable and non-transparent, there has been progress with technical support and expanded market access. He also referred to a report prepared by the commission on the impact of Nepal's upgradation from a least developed country (LDC) and strategies for smooth transition.

Purbanchal University vice-chancellor Prof Dr Biju Kumar Thapaliya emphasised the importance of the supply chain in foreign trade. Highlighting Nepal's significant role in reaching the international market through auction market management and identifying buyers, Thapaliya noted that auction market management is a common issue for landlocked countries. He also suggested that Nepal needs to address it through geo-political discussions.

Executive Director of South Asia Watch on Trade and Environment (SAWTEE) Dr Paras Kharel, discussed the work done for trade facilitation since Nepal became a WTO member. He noted that both imports and exports have been encouraged due to trade liberalisation.

However, Nepal could not impose import duties due to various agreements, including bilateral treaties that exempted 50 per cent customs duty on rice. Kharel stressed that Nepal's exports cannot be competitive unless the domestic market improves, attributing the problem to a lack of production capacity.

Agriculture expert Dr Yamuna Ghale, on the occasion, stated that government agencies have not sufficiently discussed the pros and cons of WTO membership in international forums. Pointing out that poor institutional memory capacity has hampered negotiations and that Nepal's food security is weakening due to lack of production capacity, Ghale warned of potential crises if Nepal's food production remains under external control and highlighted the need for competitive export industries.

Immediate Past President (IPP) of the Confederation of Nepalese Industries (CNI) Vishnu Kumar Agrawal also noted that Nepal now has easier access to a large global market. However, he criticised the government for not fulfilling promises on export promotion and facilitation. 

According to Agrawal, production and productivity have been adversely affected as export promotion programs are frequently included in the budget but fail to deliver results.

Under Secretary at the Ministry of Industry, Commerce and Supplies Liladhar Adhikari, stated that Nepal has failed to effectively promote Nepali products. He emphasised that being a WTO member implies consistent customs levels and suggested that priority should be given to domestic industry to expand trade by ensuring no higher tariffs are levied.

Adhikari concluded that Nepali products need to become competitive in the domestic market to succeed globally.

Kathmandu University School of Management (KUSOM) organises such discussions as part of its media and outreach programs under the WTO Chairs Programme (WCP). 

Prof Dr Bijay KC, Dean of KUSOM, extended his heartfelt thanks to the organising committee, panel members, and participants, pledging to continue these discussions in the future.

Fiscal federalism progressing at a moderate pace, further reforms needed to strengthen outcomes

Nepal’s legal and institutional reforms under fiscal federalism and public financial management at the provincial and local levels have continued but at a moderate pace, says the World Bank’s Nepal Fiscal Federalism Update 2024.

A reduction of available financial resources in fiscal year 2023 for provincial and local governments, mainly due to a decrease in federal revenue, led to the first fiscal deficit at the subnational level since the outset of fiscal federalism in 2017, it says, adding that to enhance the outcomes of fiscal federalism and public financial management including improved revenue generation for all three tiers of government, the Fiscal Federalism Coordination Division at the Finance Ministry was designated to coordinate public financial management reform efforts and the preparation and implementation of a Fiscal Federalism Roadmap.

The report provides a comprehensive review of the progress of fiscal federalism in Nepal. The recommendations are well aligned with our national-level vision on smoothing the fiscal transfers to help subnational governments carry out their responsibilities effectively. "The report also informs and supports our ongoing efforts to clarify responsibilities among the three tiers of government and advance fiscal federalism,” said Chief Secretary Dr Baikuntha Aryal.

Building on the first edition of the Nepal Fiscal Federalism Update, the 2024 edition explores in-depth the key pillars of fiscal federalism in Nepal: Revenue Assignment and Administration; Expenditure Assignment and Administration; Inter-Governmental Fiscal Transfers; Borrowing and Capital Finance; and Fiscal Revenue from Natural Resources.

It recommends specific measures to upgrade the Inter-Governmental Fiscal Transfer system and establish a consolidated public financial management performance database that includes data from the subnational levels to enhance evidence-based decision making and transparency.

“The report highlights the need to upgrade institutional arrangements for the Intergovernmental Fiscal Transfers system to make the transfers more needs-based and timely, and to increase the fiscal autonomy of provincial and local governments, in order to improve fiscal federalism outcomes,” said  chairman of the National Natural Resources and Fiscal Commission Balananda Paudel, on the occasion.

The report also recommends strengthening provincial and local-level institutional arrangements for fiscal federalism and public financial management operations, including actions to improve budget credibility to improve delivery of services by subnational governments.

“Fiscal Federalism is a foundation for sustained service delivery by provincial and local governments," World Bank country director for Maldives, Nepal, and Sri Lanka Faris Hadad-Zervos said, adding that they need adequate financial resources and the ability to make spending decisions at the subnational level, in the spirit of federalism and the Constitution. "The World Bank is committed to supporting the Government of Nepal, in close collaboration with other development partners, to further solidify fiscal federalism in Nepal."

Nepal's banking industry leads the region in female representation but significant barriers remain in having more women in leadership roles: IFC Report

With 46 per cent female representation in its entry-level workforce, the banking industry in Nepal is ahead of other countries in South Asia in achieving gender parity. However, only 23 per cent of senior management roles are held by women, according to a new IFC report that examines gender diversity at six leading banks in Nepal.

The study—among the first of its kind in the region— identifies opportunities that can enable more women to advance to senior roles in the banking industry in South Asia.

This multi-country study, Women’s Advancement in Banking in Emerging South Asian Countries, focuses on commercial banks in Bangladesh, Nepal, and Sri Lanka, where women constitute 30 per cent of the banking sector’s workforce compared to the global average of 52 per cent, the report reads, underlining how several barriers—inequitable hiring, inadequate professional development, lack of fair evaluations, sociocultural constraints, and others—curtail women’s career growth prospects across the region.

“Diversity, equity, and inclusion are central to IFC’s work values," IFC country manager for Nepal, Bangladesh, and Bhutan Martin Holtmann said, adding that through nuanced, data-driven insights emerging from this new report, it is hoped to deepen the industry discourse around steps that need to be taken to improve the status of women in the banking workforce across South Asia.

In Nepal, women hold 42 per cent of all positions in surveyed commercial banks. Comparable figures for  Sri Lanka and Bangladesh are at 38 per cent and 18 per cent respectively. In senior management roles, women hold 23 per cent of executive positions in Nepali banks, compared to 20 per cent in Sri Lanka and 12 per cent in Bangladesh, the report adds.

Past studies have shown that commercial banks that have 15 per cent or more women in senior manager or higher roles, command up to 33 per cent higher return on equity than banks that do not. A growing body of evidence further links an increase in women’s representation in organizations to better performance on business metrics.

Accordingly, IFC's key findings and recommendations intended to help industry actors—executive managers in commercial banks, policymakers, industry bodies, and investors—direct their efforts to boost women’s representation in leadership in the banking industry.

The report recommends targeted efforts in four areas by banks and industry actors. These include establishing clear organisational commitments for gender diversity, the support system for women to reach leadership positions, policy changes to ensure workplace safety, and initiatives to support women's professional development and work-life balance.

“Nepal has a strong legal framework to promote women’s economic participation in the country. And these provisions are more comprehensive than other countries in South Asia,” said Holtmann. “While these progressive policies have allowed Nepal to be a leader in the region, more needs to be done to increase the number of women in leadership positions and to reach gender parity.”

IFC’s $56 million loan to Global IME Bank in February 2024 earmarked 25 per cent towards supporting women-owned small and medium enterprises (SMEs). Additionally, IFC investment in various banking and financial sector clients such as NMB Bank, Sanima Bank, and Siddhartha Bank  have been able to provide economic opportunities, and financial services to SMEs including those led by women.

MCA-Nepal signs contract to construct 400 kV New Butwal Substation at Nawalparasi

Though it took a long, Millennium Challenge Account-Nepal (MCA-Nepal) has awarded and signed a contract with Linxon India Pvt Ltd for the construction of the 400 kV New Butwal Substation in Nawalparasi (Bardaghat Susta West) district in Lumbini Province.

In a milestone achievement, the 400 kV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months, according to a press note issued by the MCA Nepal.

Nepal Electricity Authority (NEA) managing director (MD) Kul Man Ghising and the US ambassador to Nepal Dean R Thompson, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West) today.

"The US government is committed to working with the government of Nepal to ensure that the compact delivers on Nepal’s energy needs," ambassador Thompson said, addressing the event. "The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading."

“The 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region,” NEA managing director Kulman Ghising said, on the occasion.

During the event, MCA-Nepal executive director Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact. "MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project," he said, adding that the MCA-Nepal is at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well.

Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun district under the Electricity Transmission Project funded by the US government’s Millennium Challenge Corporation (MCC) and the government of Nepal. The contractors for the remaining two substations are being selected.

The MCA-Nepal Board, chaired by the finance secretary, decided in its March board meeting to advance the 18-km Nepal portion of the New Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India.

However, it took a long time due to technical problem in contract, and also tug-of-war between the NEA and MCA-Nepal. The tug of war has, according to the sources, created doubt on the successful completion of the MCC project within 5-year timeline, which is a fixed time period of the project.

World Bank approves $80 million to strengthen financial sector, increase access to financial services

May 6

The World Bank’s Board of Executive Directors today approved an $80 million development policy credit for Nepal to strengthen the stability of the financial sector, diversify financial solutions, and increase access to financial services.

The third Finance for Growth Development Policy Credit aims to improve the functioning of the financial sector to support private sector-led growth. The operation will strengthen the supervision of the banking and insurance sectors in Nepal and foster financial product innovations in capital, insurance, and disaster risk markets, claims a press note issued by the World Bank.

The operation will also increase financial inclusion through digitalisation, enhanced credit infrastructure and improved financial literacy, with a focus on women entrepreneurs, it adds.

“This project supports Nepal’s green, resilient, and inclusive development and will help create an enabling environment for private investment to contribute to Nepal’s economic growth, particularly benefiting the poor and vulnerable,” said World Bank country director for Maldives, Nepal, and Sri Lanka Faris Hadad-Zervos.

The operation also supports Nepal's climate agenda by, for example, enhancing supervision of climate risks by requiring disclosures of climate-related risks and impacts of the banking sector portfolio; introducing risk-informed pricing for insurance products, including climate risks; establishing a framework for the issuance of green bonds; and integrating climate-related mitigation and adaptation commitments into credit guarantee products.

"This operation supports the government’s transformative financial sector reform agenda to promote private sector-led growth," World Bank task team leader for the project Tatsiana Kliatskova said, adding that the reforms in banking, insurance, and capital markets are instrumental for the sector’s resilience and the critical role it plays to enable private capital mobilisation.

Economy to grow by 3.87 per cent, per capita income reaches $1456

The economy is going to grow by only 3.87 per cent at the consumer's price, in the current fiscal year.

According to National Statistics Office (NSO), the gross domestic production (GDP) is estimated to grow by 3.87 per cent despite the government's target of 6 per cent.

The economy will grow by 3.54 per cent at constant price in the current fiscal year, the report launched today reads.

Earlier, the government has projected the economy to grow by 4 per cent, whereas the World Bank (WB) has estimated it to grow by 3.3 per cent, the International Monetary Fund (IMF) by 3.1 per cent and Asian Development Bank (ADB) by 3.6 per cent due to slowdown in the economy.

Nepal’s economy will be the size of Rs 5.704 trillion by the end of the current fiscal year from Rs 5.348 in the last fiscal year, the report reads, adding that the per capita income is also expected to increase by $51 to $1456 in the current fiscal year from last fiscal year's $1405.

The increase in income is too low as Nepal is graduating to Developing Country (DC) status by 2026 from current Least Developed Country (LDC) status.

Due to the contraction in some sectors of the economy and the low capital expenditure has pulled the economic growth rate downwards, the report exposes.

Likewise, the report also shows that the share of service sector in the economy has reached 62.9 per cent. "The contribution of the secondary sector (industry-construction) is 12.5 per cent and the share of the primary sector (agriculture) is 24.6 per cent," it claims, adding that this fiscal year, the contribution of agriculture has increased slightly compared to last year, though the increase in agriculture sector alone cannot push the economic growth upwards.

Agriculture sector will grow by 3.05 per cent, while the non-agriculture sector will grow by 3.75 per cent, it adds.

The industrial sector has also contracted for the second year in a row due to the inability to increase production, according to the report. "This year, the industrial sector has contracted by 1.60 per cent, wheras last year there was a contraction of 1.98 per cent."

In 2021-22, the growth of the industry was 6.70 per cent, the report added estimating that there will be a contraction in the production of industries as there has been no significant improvement in the economy globally due to various adverse factors created in the economy in recent times.

Government, development partners launch Public Expenditure and Financial Accountability Assessments

Nepal has a robust legislative and institutional framework for public financial management, but further reforms are needed to strengthen fiscal and budget outcomes to support green, resilient, and inclusive development, says the third Public Expenditure and Financial Accountability (PEFA) Performance Assessment Reports.

The PEFA Performance Assessment Reports were jointly launched today by the government  with support from the Multi-Donor Trust Fund. The assessment is based on the internationally recognised PEFA Framework to assess the progress of Public Financial Management (PFM) across the government. Based on the assessments, the government will prepare a medium-term PFM Reform Strategy and Action Plan.

“Public financial management has the power to change people's lives and livelihoods,” finance minister Barsha Man Pun said, adding that Nepal is committed to establishing a strong and robust public finance system and transforming the public financial management landscape through rigorous reforms and adoption of digital governance.

The government partnered with the Nepal Public Financial Management Multi-Donor Trust Fund supported by Australia; European Union; the United Kingdom’s Foreign, Commonwealth, and Development Office; Norway; Switzerland; and U.S. Agency for International Development and administered by the World Bank to conduct the assessments. The reports consist of the PFM Performance Assessment, Climate Responsive PFM Performance Assessment, and Gender Responsive PFM Performance Assessment. Nepal is the second country after Bhutan in South Asia to undertake PEFA Climate and PEFA Gender Assessments. 

According to the PFM performance assessment, the government has deployed a range of information systems to enhance the efficiency of PFM. The adherence to international standards in the budget and accounts classification ensures comparability, accuracy, comprehensiveness, and transparency in financial information. Budgets are designed with a medium-term outlook, and the predictability of resource availability for spending units is at a high level. The fiscal transfers allocated to subnational governments exhibit transparency and adherence to established rules while the scope and coverage of both the internal and external audits are extensive. 

“Nepal’s successful completion of the PEFA assessment demonstrates its commitment to sound financial management practices,”  World Bank country director for Maldives, Nepal, and Sri Lanka Faris Hadad-Zervos said, adding that development partners, including the World Bank, are committed to supporting the next generation of public financial management reforms for Nepal’s green, resilient, and inclusive development. 

The assessment highlights the following areas for potential PFM reforms to achieve better fiscal and budgetary outcomes in the future:

• Restoring fiscal credibility through a sustainable medium-term expenditure framework, recalibration of fiscal rules, expenditure reprioritization, and risk management. 

• Improving public investment efficiency by reducing inefficiencies and building climate-resilient infrastructure. 

• Applying a climate and gender lens to fiscal decision-making to mainstream climate and gender considerations. 

• Enhancing fiscal transparency and accountability by enforcing fiscal rules and promoting accountability.

“As the PEFA assessment demonstrates, some crucial elements center on fiscal discipline and its impact on service delivery. Better fiscal discipline is needed for more effective, inclusive, and accountable delivery of services,” said acting mission director of USAID Nepal Karen Welch. “We, the development partners, bring assistance that supports the government’s efforts across many sectors, like health and education, environmental preservation, and attention to marginalised groups. Sound PFM allows us to work together to better benefit the people of Nepal.”

The programme was chaired by the finance secretary Madhu Kumar Marasini. chief secretary. Dr Baikuntha Aryal, revenue secretary Dr Ram Prasad Ghimire, and financial comptroller general Hari Prasad Mainali expressed their views and reiterated their commitment for PFM reforms as indicated by this assessment. The event also included a panel discussion on the topic: “How can Nepal improve capital expenditure to achieve development outcomes?”.

The event was attended by high-level government officials, accountability institutions, and development partners involved in PFM, including climate and gender agencies. 

Basant Chaudhary's BLC Holdings and Hiranandani Group's Yotta to build a Tier 3 data center in Nepal

Basant K Chaudhary led BLC Holdings and India's Yotta Data Services Pvt Ltd today signed an agreement to build the first-ever super cloud data center in Ramkot.

BLC managing director (MD) Megha Chaudhary and chief executive officer (CEO) of Yotta Sunil Gupta signed the agreement on behalf of their respective companies during the opening session of the Nepal Investment Summit 2024.

Under the agreement, the two will jointly build a data center in Ramkot at the estimated cost of around Rs 3 billion.

This is a crucial forward leap for Nepal in the data center space, according to the information of the BLC Holdings. "It also presents a solid opportunity for the Indian company to tap into the Nepali market."

BLC Holdings is owned by Basant K Chaudhary whereas Yotta Digital Services is a subsidiary of Indian conglomerate Hiranandani Group.

Hiranandani Group -- owned by billionaire brothers Surendra Hiranandani and Niranajan Hiranandani -- is one of the reputed real estate company in India, who has investments in health and service sectors also. 

Both the companies called the collaboration an important milestone.

According to Yotta, it will leverage local resources, regulatory capacity and local relationships, as well as BLC’s customer network, apart from strengthening Nepal’s access to its major platform, which will enable Nepal to access global expertise, international standards, and advanced technologies.

The data center will spread over 11 ropani of land in Ramkot, according to the BLC Holdings. "It produces an IT load of up to 4 megawatts. It will be a modern and advanced infrastructure, equipped with modern safety protocols."

In addition, it will also offer services to both enterprise and hyperscale customers, the company added.

Nepal’s first-ever 'super cloud' tier 3 data center is named 'K One'.

BLC MD Chaudhary, after signing the agreement, said that the K one data center in Ramkot will develop an IT ecosystem in Nepal. "It will be designed by Global Hyper Scalers," she said, adding that it will significantly boost Nepal’s profile in the data center industry and help create employment opportunities in the construction and IT industries.

The agreement includes cooperation for the establishment of world-class data centers, cloud services and artificial intelligence platform services in Nepal, Chaudhary added.

Yotta has two operational data centers, Yotta NM1 in Navi Mumbai and Yotta D1 in Greater Noida, Delhi.

Development Finance Institutions commit increment in investments in Nepal

The Second Development Finance Institutions (DFI) Mission, that started on Tuesday in Nepal, concluded today with a commitment to explore investment opportunities in Class B Banks, Micro-Finance Institutions (MFIs), and Digital Financial Service Providers, following productive deal facilitation sessions held during the three-day mission.

During a meeting with finance minister Barsha Man Pun yesterday, DFI representatives received assurance of the government’s commitment to facilitating foreign investments. In this regard, the finance minister highlighted several amendments made earlier this week to laws aimed at simplifying foreign investments.

“The agendas linked to challenges to ease investments by Development Finance Institutions are gradually being addressed by the government, which is a positive sign to mobilise local saving and attract foreign investments," chairman of the Board of the Swiss Investment Fund for Emerging Markets (SIFEM) Jörg Frieden said, adding that the recognition of DFIs as development and economic growth partners by the government is very encouraging for our investments.

The DFI Mission, organised by Invest for Impact Nepal (IIN), was attended by 14 Development Finance Institutions and Impact Investors from the United States, Europe, and the United Kingdom and Multilateral Agencies such as the IFC.

The mission’s primary focus was on accelerating DFI investments in Nepal's financial service industry beyond Class A Banks. During the mission, DFIs delegates also had meetings with the finance secretary Madhu Kumar Marasini and Nepal Rastra Bank’s governor Maha Prasad Adhikari and the deputy governor Bam Bahadur Mishra, to discuss on the execution of the Memorandum of Understanding (MoU) between the Nepal Government and Development Finance Institutions signed in October 2023 and the issues related to easing entry and exits for DFI investments, respectively.

Representatives of the Nepal Bankers’ Association (NBA) and DFIs also explored opportunities to scale up Nepal’s Financial Service Industry and the role of DFIs to promote sustainable financing.

The First Development Finance Institutions (DFI) Mission in Nepal was held in April 2023.

The Government of Nepal, Finance Ministry and Development Finance Institutions (DFIs) signed a Memorandum of Understanding on October 31, 2023.

The MoU outlines an agreement to enhance the inflow of private capital investment from DFIs into Nepal, the need for transformative investments to achieve UN SDG goals, to foster favourable investment climate, and transfer of technical know-how and knowledge to enhance Nepal’s competitiveness.

Nepal Rastra Bank in its amendment to the Foreign Investment and Foreign Loan Management Bylaws -2080 (February 2024), has recognised DFIs as a category of investors (government/inter-government owned institutions).

The DFI Investments in Nepal from 2008-2023 has amounted to $1.1 billion with the financial sector comprising for 59 per cent of the total.

Remarkably, between 2021 and 2023, the financial sector attracted $629.9 million investments from DFIs.

Attendees of the second DFI Mission included Asian Development Bank (ADB), British International Investment plc (BII), Société Belge d’Investissement pour les Pays en Developpement (BIO), Nederlandse Financierings Maatschappij voor Ontwikkelingslanden nv (FMO), Swiss Investment Fund for Emerging Markets (SIFEM), Deutsche Investitions- und Entwicklungsgesellschaft (DEG), Finnish Fund for Industrial Cooperation (FINNFUND), International Finance Corporation (IFC), US International Development Finance Corporation (DFC), Japan International Cooperation Agency (JICA), MicroVest, DAI Capital, responsibility and Symbiotics, according to a press note issued by the IIN.

Global commodity prices level off, hurting prospects for lower inflation

Global commodity prices are leveling off after a steep descent that played a decisive role in whittling down overall inflation last year, which could make it harder for central banks to cut interest rates quickly, according to the World Bank’s latest Commodity Markets Outlook.

The report also finds that a major outbreak of conflict in the Middle East could halt the inflationary decline that has occurred over the past two years.

Between mid-2022 and mid-2023, global commodity prices plummeted by nearly by 40 per cent. This helped to drive most of the roughly 2-percentage-point reduction in global inflation between 2022 and 2023. Since mid-2023, however, the World Bank’s index of commodity prices has remained essentially unchanged. Assuming no further flare-up in geopolitical tensions, the Bank’s forecasts call for a decline of 3 per cent in global commodity prices in 2024 and 4 per cent in 2025. That pace will do little to subdue inflation that remains above central bank targets in most countries. It will keep commodity prices about 38 per cent higher than they were on average in the five years before the Covid-19 pandemic.

"Global inflation remains undefeated," the World Bank Group’s chief economist and senior vice president Indermit Gill, said, adding, "A key force for disinflation—falling commodity prices—has essentially hit a wall. That means interest rates could remain higher than currently expected this year and next. The world is at a vulnerable moment: a major energy shock could undermine much of the progress in reducing inflation over the past two years.”

Persistently high geopolitical tensions over the past two years have propped up the price of oil and many other critical commodities even as global growth has slowed. The price of Brent crude oil, for example, surged to $91 per barrel earlier this month—nearly $34 per barrel above the 2015-2019 average. The Bank’s forecasts indicate that Brent prices will average $84 per barrel in 2024 before declining to an average of $79 in 2025, assuming no conflict-related supply disruptions. If the conflict in the Middle East were to escalate further, however, oil-supply disruptions could push up global inflation. A moderate conflict-related supply disruption could raise the average Brent price this year to $92 per barrel. A more severe disruption could see oil prices surpass $100 per barrel, raising global inflation in 2024 by nearly one percentage point.

“A striking divergence is emerging between global growth and commodity prices: despite relatively weaker global growth, commodity prices will most likely remain higher in 2024-25 than in the half-decade before the Covid-19 pandemic,” said Ayhan Kose, the World Bank Group’s Deputy Chief Economist and Director of the Prospects Group. “One critical factor behind this divergence relates to heightened geopolitical tensions that are keeping upward pressure on prices of major commodities and stoking risks of sharp price movements. Central banks must remain alert about the inflationary implications of commodity-price spikes amid elevated geopolitical tensions.”

The average price of gold—a popular choice for investors seeking 'safe haven'—is expected to hit a record in 2024 before moderating slightly in 2025. Gold holds a special status among assets, often rising in price during periods of geopolitical and policy uncertainty, including conflicts. Strong demand from several developing-country central banks, along with heightened geopolitical challenges, is expected to bolster gold prices throughout 2024.

An escalation of the conflict in the Middle East could also drive up prices of natural gas, fertilizers, and food, the report notes. The region is a crucial gas supplier—20 per cent of global liquefied natural gas (LNG) trade transits the Strait of Hormuz. If the LNG supply were interrupted, fertilizer prices would also rise substantially, likely driving up food prices. The Bank’s baseline forecast, however, is for overall food prices to decline somewhat—by 6 per cent in 2024 and 4 per cent in 2025. Fertilizer prices are expected to fall by 22 per cent in 2024 and 6 per cent in 2025.

Accelerating investment in green technologies has bolstered prices of key metals that are critical for the global clean-energy transition. Prices of copper—necessary for electricity-grid infrastructure and electric vehicles—surged to a two-year high this month. They are expected to rise by 5 per cent in 2024 before stabilizing in 2025. Prices of aluminum are forecast to rise by 2 per cent in 2024 and 4 per cent in 2025, bolstered in particular by the production of electric vehicles, solar panels, and other renewable-power infrastructure.

The report also contains a special focus section evaluating the performance of five well-known approaches used to forecast the prices of three key commodities—crude oil, copper, and aluminum. It finds that each of them suffers from certain deficiencies, but each also offers important advantages. As a result, the analysis suggests, forecasts are most accurate when they reflect a variety of analytical approaches—and a healthy dose of judgment.

Qatar Emir Al Thani wraps up Nepal visit, Nepal-Qatar sign two agreements, six MoUs

Qatar Emir Sheikh Tamim bin Hamad Al Thani concluded his two-day state visit to Nepal and left Kathmandu today afternoon.

President Ram Chandra Poudel and other high-ranking officials saw off Al Thani at the Tribhuvan International Airport (TIA) this afternoon in Kathmandu.

Earlier Nepal and Qatar signed two agreements and six memorandums of understanding (MoUs) following a delegation-level bilateral meeting at The Soaltee Hotel in Kathmandu. Prime Minister Pushpa Kamal Dahal and Qatar Amir Al Thani led their respective delegations in the meeting.

According to a press note issued by the Foreign Ministry, the two countries have signed different agreements and MoUs for cooperation in the fields of education, arts and culture, sports, news agencies, diplomatic training and attorney general offices.

Likewise, the private sector organisations of the two countries also signed agreement to further enhance economic relations between the two countries.

Emir Al Thani arrived in Kathmandu yesterday afternoon from Dhaka after wrapping up his state visit to Bangladesh. He held talks with President Ram Chandra Poudel at the Office of the President yesterday evening. 

Later, he attended a state reception organised by President Poudel in the honour of the Qatar Emir and the Qatari delegation.

After the bilateral meeting with Prime Minister Pushpa Kamal Dahal today, Qatar Emir Al Thani attended a luncheon hosted by Prime Minister Dahal.

Nepal has also decided to gift a pair of elephants to the State of Qatar.

Agreements and MoUs signed:

i) MoU for Cooperation in the Fields of Culture and Arts

ii) MoU for Cooperation in the Field of Education, Higher Education and Scientific Research

iii) MoU on Cooperation in the Field of Youth and Sports

iv) MoU on Cooperation between the Office of the Attorney General of Nepal and the Public Prosecution of the State of Qatar

v) MoU on Cooperation in the Field of Diplomatic Training and Education between the Institute of Foreign Affairs (IFA), Nepal and the Diplomatic Institute of Qatar

vi) Renewal of the MoU between Qatar Chamber and the Federation of Nepalese Chambers of Commerce & Industry (FNCCI)

vii) Agreement on Cooperation and Exchange of News between Rastriya Samachar Samiti of Nepal and Qatar News Agency (QNA)

vii) Agreement on the establishment of Joint Business Council (JBC) between Qatar Chamber and the Federation of Nepalese Chambers of Commerce & Industry (FNCCI)

Before signing agreements, Prime Minister Dahal held bilateral talks with Emir of Qatar Sheikh Tamim bin Hamad Al-Thani.

Taking stock of the existing relations so cordially subsisting between Nepal and Qatar, both leaders discussed about enhancing bilateral cooperation by furthering the avenues of partnerships.

Following the talks, the Prime Minister and Emir witnessed a signing ceremony of bilateral agreements and MoUs. 

Meanwhile, Prime Minister Pushpa Kamal Dahal 'Prachanda' has said that there should be an exchange of bilateral assistance between Nepal and Qatar in the best interests of both nations by further consolidating the bilateral ties.

During the bilateral talks, Prime Minister apprised the distinguished guest that Nepal offers ample and appropriate opportunities for investment in agriculture, tourism, and infrastructure sectors.

Stating that Nepali migrant workers in Qatar have served as a tool to further strengthen the friendly relations between Nepal and Qatar, he spoke of the need to deepen such ties in the days to come.

The Prime Minister also called on Qatar to facilitate the safe release of Nepali student Bipin Joshi, who has been missing since the conflict between Israel and Hamas.

Affirming that Nepal and Qatar always enjoy a cordial relationship, the Prime Minister said this relationship is founded on cordial friendship, mutual respect, trust, and assistance. "Qatar remains as a reliable friend of Nepal and such relations are getting deeper and extended," he said, adding that these relations are not limited to just an official level but have been expanded to the people-to-people level as well.

Describing Nepal as 'one of the attractive destinations for investment for the globe', Prime Minister Dahal said agriculture, energy, hydropower, infrastructure development, tourism, information and communications technology, service and hospitality sectors are suitable areas for foreign investment in Nepal.

"Nepal is a suitable place for producing organic agricultural products due to its geographical diversity," he said, adding that the Qatari investors would be encouraged to consider investment in this sector since Nepal was a center of attraction in tourism in the world parlance.

Remembering the ascent of the highest mountain in the world Mt Everest by the first Qatari man, Sheikh Mohammed bin Abdulla Al-Thani in 2013, the Prime Minister said that it helped contribute in the promotion of Nepal's tourism in the world.

On the occasion, PM Dahal requested to include Nepal in the list of Qatar's Tourism Authority's external tourism destination.

PM Dahal urged the Qatari government for operation of flights from Lumbini and Pokhara to Qatar as well.

Stating that there were effective and sufficient air transportation between Kathmandu to Doha, PM Dahal urged the Qatari government to consider operating flights from Lumbini and Pokhara to Doha as well.

Earlier, stakeholders had urged the government to take initiatives for operating direct flight between Bhairahawa and Qatar from Gautam Buddha International Airport during the Qatari Emir's visit to Nepal.

Siddhartha Chamber of Commerce and Industry's president Thakur Kumar Shrestha, requested the government to prioritise the proposal of operating direct flight between Bhairahawa and Qatar.

Likewise, PM Dahal observed that around 400,000 Nepalis migrant workers working in Qatar at present were an important bridge further cementing the bilateral ties between Nepal and Qatar.

"Nepal is going to establish vocational training and skill development center for aspiring Nepali migrant workers to Qatar," he said, urging Qatari government for its assistance in setting up such centre.

Nepal-Qatar Joint Business Council formed

A Joint Business Council between Nepal and Qatar has been established, which includes the private sectors of both the nations.

An agreement was reached between the two chambers today (on Wednesday) for the establishment of a council headed by president of Federation of Nepalese Chambers of Commerce and Industry Chandra Prasad Dhakal and president of Qatar Chamber Sheikh Khalifa bin Jassim Al Thani, in Kathmandu.

The agreement was signed by FNCCI president Chandra Prasad Dhakal and Qatar Chamber president Sheikh Khalifa bin Jassim Al Thani in the presence of Emir Sheikh Tamim bin Hamad Al Thani of Qatar and Prime Minister Pushpa Kamal Dahal.

The council will work in the areas of business expansion, investment promotion, technology transfer and tourism promotion, according to a press note issued by the FNCCI.

The Joint Business Council will be a permanent mechanism for dialogue with Qatar, a Gulf country experiencing rapid economic growth, the press note reads adding that the purpose of the Joint Business Council is to increase cooperation and understanding between the private sectors of Nepal and Qatar.

The council will play an effective role in attracting investments from Qatar and also expanding trade with the Gulf nation, which is known as a work destination for Nepalis. There is a high demand for agricultural products, water, herbs, spices and spice products in the Gulf countries. As Qatar is an investment destination due to its rapid economic expansion, the Joint Business Council will play an effective role in attracting investments in Nepal. The council will also work in the field of tourism promotion, it adds.

After the establishment of the council, cooperation between the two chambers is expected to further intensify and presidents of both the chambers are of the opinion that it will help in investment and business expansion.

"This agreement will further increase cooperation in the coming days," president of the Qatar Chamber Sheikh Khalifa bin Jassim Al Thani said, after signing the agreement.

Likewise, FNCCI president Chandra Prasad Dhakal said that there will be more initiatives taken through the council to increase cooperation between Nepal and Qatar. "The council will continue to work to benefit Nepal from Qatar's rapid economic development," he said adding that the establishment of the Joint Business Council will help in attracting more investments in hydropower, tourism infrastructure, agro-processing and information and communication technology sectors.

In addition, the agreement between FNCCI and Qatar Chamber has also been renewed. The new agreement was signed by FNCCI president Dhakal and Qatar Chamber president Al Thani.

The agreement was also signed in the presence of Sheikh Tamim bin Hamad Al Thani, Emir of Qatar and prime minister of Nepal Pushpa Kamal Dahal.

The first agreement between FNCCI and Qatar Chamber was signed in 2005. Since then, the two chambers have been cooperating in various ways for investment and business promotion.

Nepal-Tibet meeting reviews Aid Projects in Nepal

The first meeting of the Aid Projects to Nepal (2024-2028) took place in Lhasa, China’s Tibet Autonomous Region on April 23 and 24.

The first meeting was co-chaired by joint secretary of the Ministry of Federal Affairs and General Administration Kamal Prasad Bhattarai and director general of the Foreign Affairs Office of the China’s Tibet Autonomous Region Baiman Yangzong.

On the occasion, the discussions were focused on the coordination mechanism of aid projects by the Tibet Autonomous Region, China to Nepal in terms of work schedule, selection modality of the projects, and the ways of implementation and monitoring, according to a press note issued by the Nepali consulate in Lhasa.

During the meeting, both sides agreed to hold the meeting of aid projects twice in the first half of the year, so as to focus on the projects arrangements and twice in the second half of the year for the implementation and review of the implemented projects. Furthermore, the two sides underlined the need to enhance the level of support for improving the livelihood of people residing in bordering districts in the Northern Himalayan region of Nepal through the Aid Projects.

On Wednesday, joint secretary at the Ministry of Federal Affairs and General Administration and the head of Nepali Delegation Kamal Prasad Bhattarai paid a courtesy call on executive vice-chairman of the People’s Government of Tibet Autonomous Region of the People’s Republic of China Chen Yongqi. During the meeting, views were exchanged on matters of mutual interests; including the promotion of socio-economic linkages for further strengthening Nepal-China relations.

The second meeting of the Aid Projects to Nepal will take place on a mutually convenient date in May 2024, the press note reads.

The delegation also visited the Consulate General of Nepal in Lhasa, where Consul General Navaraj Dhakal welcomed and hosted Luncheon in honour of the joint secretary and his delegation. 

The Nepali delegation will visit Ali Prefecture and its vicinity on Thursday. The delegation is scheduled to return Kathmandu on Friday.

The delegation of Nepal included officials from the Ministry of Federal Affairs and General administration, Consulate General of Nepal in Lhasa. Likewise, the Chinese delegation comprised the high-ranking officials of the Foreign Affairs of China’s TAR.