PM assures of forming a powerful probe panel to resolve dispute between NEA and industries

Prime Minister Pushpa Kamal Dahal 'Prachanda', who last Thursday instructed the electricity authority to collect long-standing disputed electricity tariff dues from dedicated feeder and trunk line users, today assured the industrialists to resolve the issue by forming a powerful probe panel.

The Prime Minister is ready to form a powerful probe panel led by a judge of the Supreme Court," according to an industrialist, who went to meet the prime minister with 10-point memorandum.

The team led by senior vice president of Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Anjan Shrestha, former FNCCI president Pashupati Muraraka, and Confederation of Nepalese Industries (CNI) president Rajesh Agrawal, after handing over the 10-point memorandum, requested the Prime Minister to form a powerful probe panel led by a judge of the Supreme Court under the Commissions of Inquiry Act, 2026 (1969).

The industrialists, on the occasion, also clarified the premier that they have been paying their normal electricity tariff regularly to Nepal Electricity Authority (NEA). But the NEA has been claiming that they should also pay premium tariff, which according to the industrialists, they have not used.

"If the NEA can produce the Time-of-Day (ToD) data we are also ready to pay the claimed due," they assured the Prime Minister, complaining of the power supply being disconnected without taking any initiatives for the resolution of disputes over NEA-claimed electricity tariff arrears of those with dedicated feeders and trunk lines.

The ToD meter keeps all the data that clarifies the usage of the electricity. "But the NEA has not been able to produce the ToD data and pressuring the industrialists to pay the dues, of premium bill, which they have not used."

The NEA executive director Kulman Ghising had, organising a press meet on Thursday, claimed that no exemptions could be granted, as directives were already issued to clear dues from dedicated feeder and trunk line users after disconnecting the electricity supply lines. "The affected consumers must either engage in the appeal process or settle their dues through installment payments," he said, adding that the NEA came into action from last Friday after the Prime Minister Dahal gave them instruction last Thursday to collect electricity tariff dues.

Ghising also blamed the industrialists for utilising electricity from dedicated feeders and trunk lines during the load-shedding times, and not paying the premium tariff, which according to him is unjust.

But the industrialists claimed that they have been paying electricity bill regularly. "There is a disagreement between the NEA and industries regarding the premium imposed on trunkline consumers," they said, adding that they have not paid the premium to the NEA. "We cannot afford to pay for electricity we have not consumed."

NEA has cut power supplies to nine industries that, it claims, have outstanding dues running over Rs 12 billion. But according the private sector, the NEA disconnected the lines without showing seriousness in addressing the dispute of payment of arrears of dedicated feeders and trunk lines, which has been in place for the past six years.

The issue of payment of electricity arrears of different industries using dedicated feeders and trunk lines surfaced six years ago.  The dispute has prolonged, as courts, parliamentary committees, Commission for the Investigation of Abuse of Authority (CIAA) had directed the NEA to collect the arrears, but NEA has no enough evidence to prove that these industries have actually consumed the electricity, which was a luxury during the load-shedding period. 

But after the Prime Minister Dahal instructed the NEA to collect electricity tariff dues last Thursday, the NEA disconnected the electricity of four industries, including Reliance Mills, Jagadamba Steel, Arghakanchi Cement and Sarbottam Cement. On Sunday, the NEA disconnected five more industries electricity, making it to a total of 9 industries.

What is dedicated and trunk line

A dedicated feeder involves the supply of electricity through a separate line directly from a substation. This feeder system ensures continuous power supply even during load shedding by allowing electricity to be provided from an alternative line when one is subject to load shedding. On the other hand, a trunk line delivers electricity from the transmission line to the industry by placing a transformer inside the industry itself.

निजी क्षेत्रले सामूहिक लगानी कोष ल्याउँदै, अर्थतन्त्र चलायमान बनाउन मद्दत गर्ला ?

अर्थतन्त्रमा निराशा छाएको बेला नेपाल उद्योग वाणिज्य महासंघका अध्यक्षको अगुवाइमा नेपालभरका उद्योगी व्यापारीको सामूहिक लगानी कोष बन्ने भएको छ ।

महासंघका अध्यक्ष चन्द्रप्रसाद ढकालले ७७ वटै जिल्लाका उद्योगी व्यापारीहरुको लगानी हुने गरि सामूहिक लगानी कोष ल्याउन लागेको बताए ।

महासंघका अनुसार देशका ७७ वटा जिल्लामा १२० हाराहारी जिल्ला तथा नगर उद्योग वाणिज्य संघ छन् । प्रतिफलयुक्त आयोजनामा लगानी गर्ने उद्देश्यसहित ती सबै जिल्ला तथा नगर उद्योग वाणिज्य संघमा आबद्ध रहेका उद्योगी व्यापारीको सामूहिक लगानी कोष बनाउने ढकालले बताए ।

‘सामूहिक लगानी कोषको मोडालिटी बन्दै छ’, ढकालले भने, ‘७७ वटै जिल्लाका जिल्ला नगर उद्योग वाणिज्य संघमा आबद्ध उद्योगी व्यवसायीको संलग्नतामा सामूहिक लगानी कोष बनाएर प्रतिफलयुक्त आयोजनामा लगानी गर्ने हाम्रो योजना हो ।’

ढकाल २०७९ चैत ३० गते महासंघमा अध्यक्ष भएका हुन् । तर, उनी अध्यक्ष हुँदा नेपालको अर्थतन्त्रमा समस्या देखिइसकेको थियो । निवर्तमान अध्यक्ष शेखर गोल्छाको कार्यकालको करिब सुरुवातदेखि नै विश्वव्यापी महामारी कोरोनालगायत विविध समस्याका कारण नेपालको अर्थतन्त्रले लय गुमाउँदै गइरहेको थियो ।

जसका कारण निजी क्षेत्रको मनोबल इतिहासकै न्यून बिन्दुमा रहेका बेला महासंघको सामूहिक लगानी कोषले उद्यमी व्यवासायीको मनोबल बढाउने तथा निजी क्षेत्रको योगदान पनि देखिने ढकालको विचार छ ।

कोरोना महामारीपछि नेपालको अर्थतन्त्र उठ्न सकेन । वैश्विक महामारी कोरोनाका कारण नेपालमा २०७६ साल चैत ११ गतेदेखि बन्दाबन्दी गरिएको थियो । पटक पटकको बन्दाबन्दीका करण अर्थतन्त्र झन् झन् शिथिल बन्न पुगेको हो ।

कोरोना महामारीका कारण आर्थिक वर्ष २०७६/७७ मा नेपालको अर्थतन्त्र २.३७ प्रतिशतले नकारात्मक भएको थियो भने त्यसपछिको आव २०७७/७८ मा पनि ४.२५ प्रतिशत आर्थिक वृद्धिमात्र भएको थियो । जसका कारण आव २०७६/७७ को कोरोना महामारीपछि गत आव सम्ममा औसत् आर्थिक वृद्धिदर २.४७ प्रतिशतमात्र देखिन्छ ।

चालु आर्थिक वर्षको आर्थिक वृद्धिदर पनि विश्व बैकको प्रक्षेपणअनुसार ३.९ प्रतिशत हुने आशा छ भने एसियाली विकास बैंकले भने ४.३ प्रतिशत आर्थिक वृद्धि हुने प्रक्षेपण गरेको छ । तर, चालू आर्थिक वर्षमा बाह्य क्षेत्रमा सुधार भए पनि आन्तरिक क्षेत्र चलायमान नहुँदा अर्थतन्त्र ४ प्रतिशतको हराहारीमा मात्र वृद्धि हुने देखिन्छ । जसका कारण निजी क्षेत्रको मनोबल इतिहासकै सबैभन्दा न्यून रहेको हो ।

यसरी अर्थतन्त्रमा ८१.५५ प्रतिशत योगदान दिएको निजी क्षेत्र, जसले रोजगारी सिर्जनामा पनि ८६.६७ प्रतिशत योगदान गरेको छ, पछिल्ला वर्षहरुमा आफनो कमजोर मनोबलका कारण लगानी एवं उद्योग व्यापार विस्तारमा उदासिन रहेको छ । नेपाल उद्योग परिसंघको तथ्यांकअनुसार पनि उद्योगहरु आफनो पूर्ण क्षमतामा संचालन हुन सकिहेका छैनन् ।

उद्योगहरु कोरोनापूर्वको अवस्था अझै संचालन हुन नसक्नुमा बजारमा माग बढ्न नसक्नु प्रमुख कारण हो । तर, बजारमा माग बढाउन तथा कारोबारमा सहजीकरण गर्न सरकार अससफल भएको छ ।

त्यसैले पनि सामूहिक लगानी कोषले उदासिन तथा कमजोर मनोबल भएको निजी क्षेत्रलाई उत्साहित बनाउन मद्दत गर्ने ढकालको आशा छ ।

मुलुक संघीय गणतन्त्रमा रुपान्तरित भएपछि राजनीतिक स्थिरता आएको मानिए पनि सरकारका नीतिगत अस्थिरता तथा दीशाहिनताका कारण निजी क्षेत्रको मनोबल उठ्न सकेको छैन ।

जसका कारण उद्योगको संचालन क्षमतामा न्यूनीकरण एवं स्वदेशी तथा विदेशी लगानी पनि खासै उत्साहप्रद अवस्था नभएका कारण निजी क्षेत्रमा निराशा ब्याप्त छ । १० मध्ये ९ रोजगारी प्रदान गर्ने निजी क्षेत्रमा आएको संकुचनले मुलुकमा रोजगारी नपाएर युवा पलायन बढ्दो छ ।

सरकारले निजी क्षेत्रको कुरा नसुन्ने तर राजनीतिक फाइदामात्र हेर्ने गरेको कारण पनि अर्थतन्त्रमा इतिहासकै निराशा छाएको अर्थविद्हरु बताउँछन् । त्यसैले महासंघले निजी क्षेत्रको मनोबल बढाउन सामूहिक लगानी कोषको अवधारणा ल्याएको पनि ढकालको दाबी छ । (https://clickmandu.com/2023/10/270408.html)

Global IME Bank, BoK start joint operation as Global IME Bank

Global IME Bank and Bank of Kathmandu (BoK) today started the integrated operation as Global IME Bank.

Following the merger, the bank's capital fund totaled Rs57 billion, deposit reached Rs 410 billion and loans Rs 400 billion with assets of Rs 500 billion and a network of 1,100 branches, according to a press note issued by the bank.

With a total of 365 branch offices, 367 ATMs, 286 branchless banking services, 61 extended branch offices, and 3 contact offices located abroad, Global IME Bank has more than 4 million customers, the press note reads, adding that the board of directors of the merged bank will consist of five directors including chair Chandra Prasad Dhakal from erstwhile Global IME Bank and two directors from erstwhile Bank of Kathmandu. The chief executive officer (CEO) of Global IME Bank Ratnaraj Bajracharya will continue as the CEO of merged bank.

Inaugurating the programme, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ reetariated the government main agenda as sustainable economic development and strengthening of the economy. “Understanding the need of the hour, we have decided to implement a balanced financial, industrial and monetary policy to make the economy dynamic and to objectively intensify cooperation and cooperation with the private sector to solve the problems seen in the economy,” he said, claiming that the country’s economy will accelerate, if the opportunities provided by the expansion and improvement of the banking sector can be properly utilised. Emphasising that the banking sector has a great role in making remittance transactions reliable and secure, the premier said that it is necessary for the banking sector to contribute not only to big projects but also in the areas of access to finance, financial literacy and self-employment by using the latest banking and financing products. “It would be easier to invest in big projects, if banks and other financial institutions merged and worked together but such mergers should boost financial efficiency and minimise unhealthy competition.”

On the occasion, chief secretary Shanker Das Bairagi said that the government is serious and will take effective steps in increasing their morale. “There have been positive indications in the country's economy lately,” he said, consoling the private sector not to fear. He also said that mergers will make it easier to raise resources for large projects and increase efficiency.

Likewise, central bank governor Maha Prasad Adhikari said that the merger process was pursued following increasing unhealthy competition and rising operating expenditures of financial institutions.

Urging the banks and financial institutions (BFIs) to focuse on self-regulation and invest in productive sector including small and medium enterprises (SMEs), he claimed that the merger policy will make the financial system more secure. “Due to increasing numbers of BFIs that led to the unhealthy competition, Nepal Rastra Bank (NRB) has adopted the merger and acquisition (M&A) strategy a decade ago.”

Though the NRB has brought merger bylaw in 2011 and revised it in 2012, the Monetary Policy of the fiscal year 2015-16 has encouraged mergers and acquisitions by increasing the paid-up capital of the BFIs. The Monetary Policy has increased the paid up capital of the commercial banks (Class A financial institutions) to Rs 8 billion, development banks (Class B financial institutions) to Rs 2.50 billion, and finance companies (Class C financial institutions) to Rs 800 million. 

Speaking on the occasion, president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha asked the government and central bank to address three concerns to improve economy. “First, increase government spending; second make monetary policy restrictive but flexible too given the investment risks, and third, create an investment-friendly environment for private sector.”

“The economy will be strong only if the banks are strong,” he said, adding that the bigger banks after merger will also lead to bigger challenges. “To provide reasonable interest to the depositors and subsidised interest to the borrowers is also a huge challenge.”

Stating that BFIs are the backbone of the economy, Golchha said the profit of banks should also be seen, linking it with their investments.

Saying that reducing interest rates will boost the morale of industrialists and businessmen, Confederation of Nepalese Industries (CNI) president Vishnu Kumar Agrawal asked the government and central bank to decrease interest rate and ease liquidity. “Big banks should have bigger responsibility as well,” he said, urging the BFIs to lower the interest rate. “Encouraging to invest in productive sectors will not only contribute to national capital formation but also help government achieve revenue target.”

Informing about the merger, chair of the Global IME Bank Chandra Prasad Dhakal, on the occasion, said that the Global IME has merged and acquired a total of 21 BFIs to become the largest bank in the country. "This institution has been formed with the merger of five commercial banks and 10 development banks, apart from six financial institutions,” he informed, claiming the merged Global IME Bank as the first bank in terms of higest paid up capital. He also pointing out the risk involved as a big bank. “Being a big bank, there are risks and managerial challenges but we will be able to address them with our experience.”

Started his banking business from bringing remittances back home as a remitter, Dhakal said he will still gives high priority to remittance service. “We will give priority to bringing back money earned by the Nepalis in the Gulf and other countries.”

मागमा आएको संकुचनले राजश्व संकलनमा दबाब

नीजि क्षेत्रले मागमा आएको संकुचनको असर उद्योग क्षेत्रसँगै सरकारको राजश्वमा समेत परेको जनाएको छ । 

राष्ट्रिय कर दिवस २०७९ को अवसरमा अर्थ मन्त्रालयका राजश्व सचिव रामेश्वर दंगाल र आन्तरिक राजश्व विभागका महानिर्देशक रितेशकुमार शाक्यसँग अन्तरक्रिया गर्दै नेपाल उद्योग परिसंघले मागमा आएको संकुचनको असर उद्योग क्षेत्रसँगै सरकारको राजश्वमा समेत परेको जनाएको हो । परिसंघ सचिवालयमा आयोजित “परिसंघमा परिचर्चा” कार्यक्रममा बोल्दै परिसंघका अध्यक्ष विष्णुकुमार अग्रवालले मागमा आएको संकुचनको असर उद्योग क्षेत्रसँगै सरकारको राजश्वमा समेत परेका कारण त्यसको समग्र असर अर्थतन्त्रले भोगिरहेको बताए । उनले अर्थतन्त्रमा देखिएको समस्या समाधानका लागि ब्याजदर घटाउने, समग्र माग बढाउने खालको नीति अलम्बलन गर्नुपर्नेमा जोड दिए। 

परिसंघले गरेको सर्वेक्षण अनुसार उद्योगको प्रकृति अनुुसार ८० प्रतिशतसम्म मागमा संकुचन आएको देखिएको उनको भनाइ थियो । अर्थतन्त्रमा संकुचन बढ्दै जाँदा उद्योगसँगै राजश्व पनि थप प्रभावित हुने र त्यसको प्रत्यक्ष असर पूँजीगत खर्चका लागि सरकारलाई रकमको अभाव हुन सक्ने उनले बताए। 

उनले बहुदर भ्याट प्रणाली लागू गर्न आवश्यक रहेको स्मरण गराउँदै भारतलगायत अन्तर्राष्ट्रिय बजारमा प्रतिस्पर्धी गराउन पनि बहुदर भ्याट प्रणालीको विकल्प नभएकोमा जोड दिए ।  

राजश्व सचिव रामेश्वर दंगालले राजश्व संकलनमा गिरावट आउँदा त्यसले वित्तिय चाप पारेको स्विकारे । अर्थतन्त्रमा परेको दबाबबारे निजी क्षेत्र जानकार रहेको भन्दै उनले राजश्वमा योगदान दिन उद्योगी व्यवसायीलाई आग्रह गरे । अर्थतन्त्रमा स्थायित्व ल्याउने गरी मौद्रिक नीतिले औजार प्रयोग गर्दा बजेटले लिएका उद्देश्य हासिल गर्न दबाब परेको पनि सचिव दंगालको भनाइ थियो । उनले राजश्वमा दबाब पर्दै गए आन्तरिक ऋण उठाउनुपर्ने र त्यसको प्रत्यक्ष असर निजी क्षेत्रमा जाने लगानी योग्य तरलतामा थप दबाब पर्ने पनि बताए। 

आन्तरिक राजश्व विभागका महानिर्देशक रितेशकुमार शाक्यले निजी क्षेत्रलाई दोहोरो कर नपरोस् भन्नेमा सरकार सचेत रहेको भन्दै कर अधिकारी र करदाताबीच भौतिक सम्पर्क नै हुन नपर्ने गरी कर प्रशासनमा सुधार गर्न लागेको जानकारी गराए । यसले कर प्रशासन र निजी क्षेत्रप्रति लाग्ने आरोप सहनु नपर्ने उनको भनाई छ । निजी क्षेत्र नफस्ट्याई सार्वजनिक क्षेत्र पनि अगाडि बढ्न नसक्ने समते उनले बताए। 

उक्त अवसरमा नेपाल उद्योग परिसंघका उपाध्यक्ष राजेश अग्रवालले उद्योगहरु फस्ट्याउन नीतिगत स्थिरता आवश्यक रहेको बताएका थिए। आर्थिक ऐन र औद्योगिक व्यवसाय ऐनका व्यवस्था एक आपसमा बाँझिदा औद्योगिक प्रबद्र्धनमा असर परेको बताउँदै उनले तयारी वस्तु र कच्चा पदार्थ अन्त शूल्क लगाउँदा राम्रो वातावरण नबनेको बताए। यस्तै उनले तीन वटै तहबाट कर संकलन भईरहेकोमा त्यसमा सुधार ल्याउन एकद्धार प्रणालीबाट मात्रै कर संकलन गर्न सुझाव दिए । 

छलफलमा उद्योगी व्यवसायीहरुले कर तथा राजश्वका विषय, अर्थतन्त्रमा सुधार ल्याउन चालिनुपर्ने कदमका विषयमा सुझाव एवं जिज्ञासा राखेका थिए ।

Industries warn of protest programme against power utility

 The unscheduled power cut has infuriated the industrialists, forcing them to announce the protest against the power monopoly.

They also warned to lock up Nepal Electricity Authority (NEA) office, if the authority could not supply uninterrupted electricity to the industries along Sunsari-Morang Industrial corridor by Tuesday. “The NEA has disrupted power supply to the industrial area for more than 12 hours daily for the past few days without any notice,” they said at a joint press conference today,

Morang Merchant Association, Industry Association and Confederation of Nepalese Industries (CNI)-Province 1, jointly organising a press meet, said that the industries along the Sunsari-Morang corridor have to be shut down as the power supply has been down for almost 24 hours since Wednesday.

“The industries have suffered huge losses due to unannounced power cuts,” President of Morang Merchant Association Nabin Rijal said, adding that the goods in the machine and in godown have become useless due to  unannounced load shedding. “If the government does not solve the problem by Tuesday, We will be forced to padlock NEA on Wednesday, and announce additional agitation programmes from Thursday onwards.

The industrialists have also demanded to publish the load-shedding schedule, exploit maximum potential of domestic power generation capacity, ensure equitable distribution of electricity, abolish demand charges and find a solution through diplomatic initiatives with India.

At least 500 industries along the Sunsari-Morang corridor have been hit hard due to the unscheduled power cut.

The NEA has been buying 300 MW electricity from India to match the domestic demand. But the demand of electricity has increased in India recently making the import of electricity expensive, which has forced the NEA to impose power cut in the industries. However, the industrialists along the Sunsari-Morang corridor have been asking the NEA to publish the schedule of power outage so that they can plan the operation of the industries. But the authority neither is able to import the electricity from India nor publishing the load-shedding schedule forcing the industries to go for protest programme. The industries hit by the Covid-19 since last two years were trying to operate as usual in full capacity like in the days prior to the pandemic.

One million in tourism businesses jobless due to Covid-19

Around 17 per cent of the hotels in Nepal have completely shut down their businesses, whereas more than one million people in the tourism business lost their jobs due to Covid-19 pandemic, according to a tourism entrepreneurs.

Tourism entrepreneurs -- during a meeting with the Confederation of Nepalese Industries (CNI) - today also claimed that many countries have still kept Nepal in the negative list in view of the Covid-19 infections, which have adversely affected the inflow of tourists.

The entrepreneurs also urged the government to give momentum to the vaccination drive across the country to disseminate the message that Nepal is a safe destination in terms of Covid-19.

They also called for provision of collateral free loans and easy access for the refinance facilities to revive the pandemic-hit tourism industry.

Government, CNI seal a deal to implement ‘Make In Nepal-Swadeshi’ campaign

 The government and Confederation of Nepalese Industries (CNI) signed an agreement today to launch the ‘Make in Nepal-Swadeshi’ marketing campaign.

According to a press note issued by the CNI, the government has extended support to implementation of the campaign. The Confederation has launched the campaign with an aim of ramping up domestic production, raising the competitiveness of businesses and increasing the demand for domestic goods and services. The campaign is being conducted with the consent and cooperation of the government. It is also expected to help the local industries to become self-reliant by expanding the country's industrial base and increasing production.

At a formal programme organised at the Office of the Prime Minister and Council of Ministers today, chief secretary Shankar Das Bairagi said that the marketing campaign and understanding will help turn Nepal into a self-reliant economy from current export based economy. "Now, the government and the CNI must move forward by efficiently discharging their responsibilities,” he said, adding that the government is easing policies and procedures. "Now the private sector must work to realise this."

On the occasion, CNI president Satish Kumar More said that the marketing campaign might be essential for the manufacturing and promotion of Nepali products. "Nepal now needs to produce and promote its own goods," he said, showing confidence that the campaign will help to promote domestic products.

Private sector opposes government's ulilateral minimum wage fixation

The private sector has opposed the government's unilateral minimum wage hike, and asked not to hike the minimum wage at the time of pandemic.

Issuing a joint statement, the three private sector representing bodies said that the raised minimum wage to workers, which the government is implementing from new fiscal year, cannot be implemented as the second wave of the Covid-19 prolongs and continue to impact businesses and the economy further.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC), in the joint statement, said that more than 700,000 businesses across 54 districts across the country have been affected due to the ongoing prohibitory order. As most of them are small and medium entrepreneurs (SMEs), it will be difficult for the private sector to manage their daily expenses, they said.

"As businesses are already finding it difficult to make regular payment to workers, we cannot implement the increased minimum wage, if situation further deteriorates,” the press note reads, adding that increment of wage to workers is untimely and might also impact foreign investors and investment in Nepal.

The government has increased minimum wage of labourers from Rs 13,450 per month to Rs 15,000. It has been already published in the Nepal Gazette on May 4. 

Expressing reservations against the government's recent decision of increasing minimum salary of workers, the private sector also has asked the government not to interfere in the arrangement of fixing wages by mutual consent.

At a time, when the private sector has been unable to get any respite from the government despite announcement in fiscal and monetary policy. "In the current context, the private sector is taking all possible measures to improve the supply chain and promote economic activities as far as possible," the press note reads, adding that special emphasis should be placed on measures to keep the economy afloat and save employment. "The pandemic has affected tourism and dependent industries for more than a year and has further impacted SMEs."

At present, many tourism-related enterprises have reached a mutual agreement with their staff regarding pay in the absence of work," the press note reads, adding that increasing the minimum wage will further affect these businesses and entrepreneurs. 

Private sector calls for political stability

 The private sector called foe political stability in the country as the recent political developments have pushed the country towards the instability.

Expressing serious concern over the recent political developments in the country, they also issued a joint press note urging the political parties to take a restrained decision. “The recent developments will not benefit the country’s economy,” the three private sector associations including Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chamber of Commerce (NCC) and the Confederation of Nepalese Industries (CNI), said in the joint press note. 

Expressing their concern over current political developments, the private sector associations reiterated that the political stability can lead to policy stability, create conducive environment to set up new industries, for new businesses to flourish, jobs to be created, new investment to be attracted and the economy as a whole to be able to move forward.

The economy that is hit hard by the coronavirus, is going to be in turmoil following the political instability, they fear, adding that the consequences of the recent political developments could be even more serious. The country that has come out of political instability – after almost three decades – deserves to push for economic development instead of political wrangling, according to an entrepreneur, who claimed that the politicians have always pushed the economic agenda to the back bench, despite promising economic revolution after the country wrote the republican constitution through the Constitutional Assembly some five years ago.

US sees significant barriers to investment in Nepal

 Nepal is still considered vulnerable investment destination by one of the development partners and investors, despite the stable and stronger government in the country.

According to a report of the US State Department, there are significant barriers to investment in Nepal. Though, the government has been claiming that it has brought investment-friendly laws and regulations to create investment-friendly environment, it seems the talks do not match government’s action sending the wrong signals to the investors.

The report – ‘2020 Investment Climate Statement: Nepal’ – released by the US Department of State reads that corruption, laws limiting the operations of foreign banks, limitations on the repatriation of profits, limited currency exchange facilities, and the government’s monopoly over certain sectors of the economy like electricity transmission and petroleum distribution, undermine foreign investment in Nepal.

“However, the country offers opportunities for investors willing to accept inherent risks and the unpredictability of doing business in the country, the report reads, adding that the Foreign Investment and Technology Transfer Act (FITTA) and other new pieces of legislation, however failed to resolve many long-standing institutional and procedural impediments to improved business practices. “As the Government of Nepal (GoN) struggles to confront the economic and social effects of the Covid-19 pandemic, it is unlikely a concentrated effort to improve the investment climate will be a high priority.”

The statement also notes that the intraparty feuds and competition for power within the ruling Nepal Communist Party (NCP) government have not delivered to investors the political certainty for which they had hoped. 

“In policy pronouncements, the Government of Nepal welcomes foreign direct investment (FDI) and has passed several laws during the past three years that modestly improve the investment climate,” the report reads, adding that persistent corruption and bureaucratic hindrances remain unaddressed, however, impeding the smooth conduct of business. “While the Government of Nepal’s stated attitude toward FDI is positive, this has not yet translated into practice.”

The report also cites trade unions as a risk to businesses. “Cartels and syndicates masked as business and industry associations actively seek to suppress new market entrants,” it reads, signaling that the industry associations like Federation of Nepalese Chambers of Commerce and Industry (FNCCI) and Confederation of Nepalese Industry (CNI) are creating cartels and syndicates.

The Investment Climate Statement provide country-specific information on the business climates of more than 170 countries and economies. They are prepared by economic officers stationed in embassies and posts around the world and analyse a variety of economies that are or could be markets for US businesses of all sizes, according to the State Department.

While the current government that enjoys a two-thirds majority has pushed through several laws and regulations in recent months, they have failed to attract increased foreign investment.

Private sector demands to allow businesses to operate

 The private sector today requested the government to allow businesses to operate by maintaining the safety measures prescribed by the government against Covid-19.

Representatives of three private sector organisations including Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Confederation of Nepalese Industries (CNI) and Nepal Chamber of Commerce (NCC) – in a meeting with Prime Minister KP Sharma Oli today at his official residence Baluwatar – put forth their serious concern over the prohibitory order, after the five-month long lockdown.

The economy is going to be derailed, if the current prohibitory order is continued, they complained, adding that people are likely to suffer more from fall in their incomes than the threat of Covid-19 as a large number of people have already been laid off due to the present crisis. “People will die from hunger than from the disease as they are going jobless, due to longer closure of industries.”

Urging the government to take 33 per cent of the liability of the employees’ salary, they also asked to provide loans at 50 per cent subsidised interest rate to the small and medium enterprises. The private sector also sought an effective coordination among the three tiers of government in addressing the current situation.  

Responding to the private sector, the premier signaled that the prohibitory order – that is imposed for the third week that ends on Wednesday – will be relaxed.

FNCCI president Bhawani Rana, president in waiting Shekhar Golchha, vice president Chandra Dhakal, CNI president Satish Kumar More, immediate past president Haribhakta Sharma, vice president Bishnu Agrawal, NCC president Rajesh Kazi Shrestha, vice presidents Rajendra Malla and Deepak Malhotra represented the private sector, whereas premire was accompanied by former finance minister Dr Yuba Raj Khatiwada, central bank governor Maha Prasad Adhikari, and National Planning Commission (NPC) vice chair Dr Puspa Raj Kandel. 

After huge pressure, government extends tax clearance date till June 21

The government has backtracked from its earlier decision – within 24 hour – on payment of individual and business taxes and deferred the deadline to pay taxes and submit tax details by 15 days to June 21 after a huge pressure from the private sector and the main opposition Nepali Congress (NC).
According to the new notice by the Inland Revenue Department (IRD) published today, the deadline is extended keeping in mind the nationwide lockdown and risk of coronavirus transmission. The government has imposed the lockdown till June 14 – by extending it for the eighth time since March 24 – to contain the spread of coronavirus. And the department yesterday published a notice ordering businesses and individuals to clear their tax dues by June 7 as in the normal times. The department – in the notice – asked businesses and individuals to submit the second instalment of income tax of the current fiscal year by mid-June and value added tax (VAT) and excise duty till mid-March and mid- April, respectively, by June 7. “The failure to meet the deadline for filing tax returns and clearing tax dues of previous months will result in charges,” the notice read.
But the notice only infuriated private sector, citizens and main opposition party. The main opposition party Nepal Congress – issuing a press note signed by party president Sher Bahadur Deuba – has urged the people to gently disobey the government diktat to clear tax by June 7, as the country is still under lockdown since last 72 days bleeding the economy. Nepali Congress alleged that the government has been terrorising private businesses, labourers, and farmers with tax compliance instead of introducing a special relief package to them.
The businesses have remained shut for almost two-and-a-half months since March 24, and the movement has been curtailed by the government, which is forcing the people to pay tax by June 7 within lockdown period, said an angry entrepreneur. The lockdown has been imposed till June 14.
After the criticism from different sectors of the society, the department in its new notice today said that the deadline to submit tax details, income details and payment of taxes has been extended to June 21. The department has extended the deadline to pay value added tax, excise duty, tax deducted at source (TDS) under income tax, education service tax, telephone ownership fee, and telecommunication service fee to June 21 from the previous deadline of June 7, according to a notice issued today by the department.
According to the revised decision, businesses and individuals are now required to submit the second installment of income tax of the current fiscal year by June 29, the new notice reads, adding that VAT and excise duty need to be submitted by June 21.
This is the third time that the government has extended the deadline to pay taxes as the country continues to remain in lockdown to prevent the spread of Covid-19, which has claimed nine lives and infected over 2,300 people across the country till date.
The infuriated private sector representatives – including Federation of Nepalese Chambers of Commerce Industry (FNCCI), Confederation of Nepalese Industries (CNI), and Nepal Chambers of Commerce (NCC) – has criticised the government decision for exerting undue pressure on the private sector to clear taxes despite the continuation of lockdown.
The deadline extension followed a request from the private sector representatives to the finance secretary Shishir Kumar Dhungana during a meeting with Finance Ministry officials today morning. “The government decision to extend the deadline is a move towards a positive direction,” senior vice-president of the FNCCI Shekhar Golchha said, adding that the private sector has asked that the deadline be extended till the end of current fiscal year, until mid-July. “Most of the businesses are not in a position to pay taxes immediately as there is still a lack of cash flow due to the fact that the markets are closed.”
The VAT and excise duty are taxes that the business people have collected in the market but they have already been spent. “So, they need to raise cash from the market to pay the tax authority,” he added.
The government, on the other hand, is under pressure to mobilise revenue as the government coffer is almost empty, and from the beginning of the new fiscal year 2020-21, the government may not be able to pay salary to government staff due to huge deficit in revenue mobilisation because of its failure in collecting taxes.
According to the Finance Ministry, the government has only collected Rs 657 billion so far, against a target of Rs 967 billion by mid-June. “Though Dr Yuba Raj Khatiwada is the second lucky finance minister to present three budgets in a row – after 1990 – he has failed, for the second consecutive years, to mobilise the revenue and also spend budget,” sources at the Finance Ministry claimed that the stronger government – in the history of Nepal – led by KP Oli has failed to create business friendly environment and promoted ‘some businessmen’ for the benefit of the party. “The stable, stronger and powerful communist government is promoting crony-socialism rather than taking care of people, which has resulted in the revenue deficit since last two fiscal years after Khatiwada took charge of the Finance Ministry.”

Government vows to review Social Security Fund guidelines

After repeated complaints from employers, employees and other stakeholders on some provisions in the Social Security Fund (SSF), the government has finally agreed to review the guidelines within three months.
Addressing the ‘Econ-ity’ discussion on ‘Understanding the Social Security fund: Opportunities and Challenges,’ organised by Samridhhi Foundation, here today, executive director of the Social Security Fund Kapilmani Gyawali said that the government is going to make amendments of the provisions that the employers, employees and stakeholders have been seeking.
There have also been complaints that the guidelines discriminate between public and private sector employees and that participants in the fund will have to actually pay double taxes. Likewise, stakeholders have also criticised the policy as both workers and employers seem to be reluctant to participate in the social security programme.
Gyawali, however, said that the government is going to make amendments as the fund has been receiving widespread criticism due to the lower benefits it offers and unprofitable provisions. “We are going to hire a group of ‘actuaries’ from abroad, who will look into the issues being raised by different stakeholders and will make adjustments to the facilities that will be provided by the fund,” he said, adding that the provision related to insurance and taxation will also be revised. “We will come up with arrangements that can be easily integrated into the fund.”
An actuary is a business professional, who deals with the measurement and management of risk and uncertainty. Saying that Social Security Fund is working on solving the issue of taxation also, Gyawali said that the government is ready to amend the law after objections were raised regarding the age limit of retirement and insurance arrangements being unrealistic and the fund being discriminatory between public and private sector employees.
Speaking on behalf of Nepal Bankers Association (NBA) chief executive officer of Agriculture Development Bank Anil Sharma said that they have observed some contradictory provisions in the Act. As a representative of the private sector, he believes that there is a need to discuss on the Act itself. “The scheme should be sector-specific based on the varying needs and capacity of different sectors or the same for all sectors,” he said, agreeing on the fact that a lot of shortcomings need to be handled addressing all the issues in order to achieve positive outcomes.
Likewise, vice president of Confederation of Nepalese Industries (CNI) Rajesh Agrawal, on the occasion, stressed on the need to balance the schemes in regards to varying sectors. He also ensured that CNI has also raised voices for the small and medium enterprises (SMEs) and not just the large corporations. He further ensured that they will address the needs of the SMEs in the social security scheme in the days to come.
Discussing on various frameworks in regards to the contribution based social security scheme, the participants delved into the emerging trend with the implications of the recent developments and benefits that will accrue the people from different sector. Likewise, the programme attempted to inform on the possible directions that Nepal is heading towards to ensure stability and security.
Participants, on the occasion, however asked why the government has treated private-sector employees as second class citizens. “This is obvious when we compare the benefits contributors receive from the Fund with benefits the government employees receive from Pension Fund,” a participant said, adding that the most of the government and private sector associations are currently associated with the Citizen Investment Trust (CIT) and the Employees’ Provident Fund (EPF) and since these two organisations provide better facilities there was no point in joining the scheme.
Though, the government has launched the programme with much fanfare last year, Social Security Fund has turned to be only a ‘pension scheme’ that offers benefits far below the existing EPF and CIT.
A researcher at Samriddhi Foudnation Ankshita Chaudhary began the session by giving a brief introduction of the emergence of the contribution-based social security scheme. The presentation highlighted – the inability of the SMEs to cope with rising costs, differences between the government and private sector employees, issues of taxation, among many – some of the difficulties associated with the fund.
Under the Social Security Fund, enrolled employees will be entitled to assistance for medical treatment, health and maternity protection, accident and disability protection, dependent family protection, and elderly protection (pension). The employers, who have signed up in the Social Security Fund system have listed over 50,140 employees for their contribution in the scheme.
Last week also, a team from the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) had requested the government to revise and include more realistic provisions that could help attract more contributors.

Private sector seeks interest rate stability

The private sector urged the central bank to ensure that the interest rates on lending remain stable as the interest rate volatility has hit the business growth. Seeking effective intervention from the central bank, the private sector has been raising the interest rate issue since long.
Addressing a programme today, senior vice-president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Shekhar Golchha said that the private sector is raising the interest rate issue since long as the rates in the banking sector are not based on the principle of open market economy. “Thus, it is time now for the central bank to regulate interest rate volatility in the banking sector as high and unpredictable interest rates discourage businesses and investors,” he said, adding that federation under his leadership will fight to make interest rate stable in the domestic market and promote business growth. “Our products can be competitive, only if interest rates are lowered as Nepali products cannot compete with foreign products in terms of price, our export base is very low.”
Golchha is set to become the president of FNCCI in a couple of months. “The stable policies of the government and predictable interest rates will help boost the export sector,” he added.
Likewise, president of the Confederation of Nepalese Industries (CNI) Satish Kumar More, on the occasion, said that the government’s policies should be encouraging to operate businesses instead of tightening them. “The government should guarantee safety and security to foreign investors in a bid to bring in mega foreign investments,” he added.
The central bank governor Dr Chiranjibi Nepal responding to them said that Nepal Rastra Bank (NRB) has been coordinating with the private sector while introducing and enforcing new policies. “The central bank is also concerned with the interest rate issue,” he said, adding that the bank interest rates cannot be brought down overnight and to the level sought by the private sector.

Arrest of Dr Jyoti terrorises Nepal Inc

The arrest of Dr Roop Jyoti has terrorised the private sector.
The private sector – that has been hoping for growing economic activites due to two-third majority stable government – slammed the decision to arrest industrialist Dr Roop Jyoti stating that the move has not only eroded the confidence of the business community but also sent a chilling signal that the state machinery could be misused to intimidate the private sector.
The Kathmandu District Court had granted the police permission to arrest him on Tuesday. Dr Roop Jyoti – the vice chairman of Jyoti Group – has been arrested Thursday evening while he was returing from Singapore by Silk Air.
“The government move will certainly deteriorate the confidence of the business fraternity,” according to president of Nepal Chamber of Commerce (NCC) Dr Rajesh Kaji Shrestha. “Neither will it send a positive message,” he said, adding that the authority will have adopted an alternative measure instead of arresting a reputed industrialist like a criminal.
Dr Roop Jyoti is also a brother of Padma Jyoti, who is the former president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI). Jyoti Group is considered a business house that believes and acts on fair and ethical business.
The private sector organisations – FNCCI and NCC – denounced the arrest of Dr Roop Jyoti. Issuing a press note yesterday, the FNCCI said that its attention has been drawn toward the arrest of Dr Jyoti from the airport while returning home, and his condition under the detention.
Warning that such highhandedness against industrialists and businesspersons in the country can make an adverse impact on the environment for domestic and foreign investment, the private sector asked the state agencies to treat businesspeople with respect in line with the concept of rule of law.
Earlier, the court has permitted the arrest warrant against him on charge of cheating Rs 13.6 million in a land transaction case filed by Bigendra Krishna Malla. Malla, who claims he paid Rs 12.60 million for a house in Kathmandu-3 at Bansbari, said he was neither given a house nor refunded money.
The Metropolitan Police Range, Kathmandu, had arrested Dr Roop Jyoti and his daughter Suruchi on Thursday evening and remanded the duo on Friday to police custody for three days.
The private sector sees an ‘invisible hand’ in issuing arrest warrant against the family members. “With the political backing, somebody is playing foul to tarnish the dignity of established entrepreneurs,” the private sector said, adding that Dr Roop Jyoti has neither received the money nor promised to provide a house. Landmark Developers – where CE Construction and Jyoti Group owns stake – has sold the land, where the developer was supposed to construct the house. But the devastating earth quake in 2015 has delayed the construction.
As managing director of CE Construction Sambhu Phuyal had made the deal and received the installment money without receiving retaining right from Jyoti Group. Phuyal had received the money from Malla on April 6, 2016 to construct a residential building on a land plot developed by Landmark Developers Pvt Ltd. After failing to hand over the committed property on time, the money was returned to Malla on December 1, 2018 – three days before Malla filed cased at the Kathmandu District Court – which he refused to take. But since Malla did not accept the money back that he paid in installments, Dr Roop Jyoti deposited the money at the court. However, the power play made the case complicated as Malla went to power centres and used state machinery to out Dr Roop Jyoti behind the bars.
Phuyal had also admitted before the High Court that he had received the money without taking the authority from the concerned party. Malla claimed that Dr Roop Jyoti should provide him either a house – as promised by the Landmark Developers – or pay Rs 40 million.
Meanwhile, demanding his immediate release, a group of business people staged a silent demonstration at Maitighar Mandala in Kathmandu to protest against the arrest of Dr Roop Jyoti.

Industrialist Dr Roop Jyoti remanded for five days

The Kathmandu District Court has today further remanded industrialist Dr Roop Jyoti to five-day police custody.
Earlier on Friday, court had allowed police to investigate him by keeping him in custody for three days which ended today. Metropolitan Police Range Kathmandu had detained Jyoti on Friday, shortly after he returned from Singapore by Silk Air on charge of his alleged involvement in a housing procurement scam.
Dr Jyoti himself pleaded on his behalf during today’s hearing on whether or not to extend his remand. He claimed that he is not going to run away neither has any intention of it as he has returned the country. Denying his involvement in any wrongdoing, Dr Jyoti asked the court to let him fight the case remaining out of the police custody. Dr Jyoti, who is also a former state minister for finance and vice chairman of Jyoti Group, is primarily charged of duping people in housing business last December. The police had also issued an arrest warrant against him on complaints that he was involved in housing fraud worth millions of rupees. But Dr Jyoti had immediately filed a writ against the arrest warrant and obtained a stay order from the court. However, a double bench of Chief Justice Cholendra Sumsher Rana and Justice Prakash Dhungana had vacated the stay order on Jyoti’s case on Tuesday paving the way for police to arrest him.
But the private sector has condemned the arrest of Dr Jyoti. Arresting industrialists in such a manner will discourage the business community and negatively impact the business environment of the country,” they said, adding that such intimidation using the state mechanism is alarm bell for the private sector that is hoping to build the confidence after the formation of the two-third majority stable government.
Likewise, a group of business people also staged silent protest against Dr Jyoti’s arrest in Maitighar today. The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Nepal Chmabers of Commerce (NCC) and Confederation of Nepalese Industries (CNI), alongwith many other business organisations issued press note expressing deep concern over Dr Jyoti’s arrest.
“Arresting an industrialist, who has a reputed history of doing business in the country and helping the entire economy by giving employment opportunities to thousands without enough investigations will certainly discourage the private sector,” the FNCCI press note reads, adding that such trend of arresting industrialists will discourage both domestic and foreign investment in the country. “The government agencies must treat the country’s private sector with dignity and respect.”

Private sector commits to make a ‘Baliyo Nepal’

After President Bidya Devi Bhandari launched the Baliyo Nepal initiative last week, the private sector today took the first step around the common goal of fighting malnutrition.
Baliyo Nepal’s innovative – a non-traditional approach to bring together the whole of Nepali society –relies on many diverse sectors backing the cause; and today the first group of businesses joined the movement, committing their support to Baliyo Nepal’s efforts at reducing chronic malnutrition in the country. This was first of its kind event, where both food and non-food companies have committed to the movement.
The first private sector partners of Baliyo Nepal include major food producers, service sector companies and manufacturers, reads a press note issued by the Baliyo Nepal. “Businesses as diverse as Mega Bank, Nimbus, Thamel Remit and Triveni Group committed to support the movement against hidden hunger, confirming that they saw it as in their interest to jointhe initiative that helps this country to thrive,” the press note reads, adding that
During the programme, the chairman of Baliyo Nepal Dr Swarnim Wagle emphasised that signing these Memorandum of Understandings (MoUs) is one of the landmark steps in the fight against malnutrition. “Nepal has become the pioneer country where private sector has come forward and joined the ongoing government initiatives in the willful fight against malnutrition,” he said, adding that Baliyo Nepal is positive that this partnership will start the new avenue where the private sector can play the role of a true enabler to this movement. “BLC and KL Dugar Group along with Baliyo Nepal will be launching ‘Lito’ for 6months to 24 months children, which will enrich their nutrition intake.”
Likewsie, Avinash Farms and ShrinagarAgroFarm with this partnership will enhance their egg availability across Nepal. Other businesses are giving commitments to directly support Baliyo Nepal nutrition promotional programmes.
On the occasion, chief executive of Nabil Bank Anil Shah, who is also a member of the Baliyo Nepal Board, said, “We have been overwhelmed by the appetite of Nepali businesses, who share our dream to give the next generation the best future possible.”
What could our future hold if every child was as strong as Everest, he said, adding that the movement is not just about malnutrition, it’s about the collective dreams of Nepal. “Of course, everything starts with the right nutrition. We will build a Baliyo Nepal together.”
Likewise, deputy director at the Private Sector Partnership Development for Nutrition at the Bill & Melinda Gates Foundation Kamel Chida, who was present at the signing ceremony said that the vision of Baliyo Nepal is a future where every Nepali child could grow into their full potential and with them the nation too. “That is a big challenge, and a huge opportunity, but we have a team of inspiring and committed partners to make a great start in making the movement a reality,” Chida said, hoping that more partners will join and strengthen that movement with their participation.
Almost a dozen companies including Avinash Farms Pvt Ltd, Bhuramal Lunkarandas Conglomerate (BLC), Himalayan Bank Limited, K L Dugar Group, Mega Bank Nepal Limited, Nabil Bank Limited, Nimbus Pvt Ltd, QFX (Team Quest), ShreenagarAgro Farm Pvt Ltd, Thamel Remit and Triveni Group attended the event and signed individual MoUs with Baliyo Nepal.
Baliyo Nepal is a national movement focused on engaging the nation in the fight against malnutrition. It is led by an independent board of diverse Nepali leaders spanning government, civil society and the private sector.
Former vice chair of the National Planning Commission (NPC) Dr Swarnim Wagle leads Baliyo Nepal, where Global Executive Committee Member of Scaling Up Nutrition (SUN) in Geneva, and President of the Civil Society Alliance for Nutrition, Nepal Dr Uma Koirala , former Captain of National Cricket TeamParas Khadka, , vice president of Confederation of Nepalese Industries (CNI) Nirvana Chaudhary , and chief executive office of Nabil Bank Anil Shah are members.
The Baliyo Nepal Nutrition Initiative’s first programme aims at reducing the risk of nutritional deficiencies among children aged 6 to 23 months by promoting healthy complementary feeding options, partnering with companies to grow the consumption of eggs and fortified porridge. The newly-launched organisation will work with the food industry to increase the supply of affordable and nutritious food. It also works to generate demand for more nutritious food by building a movement through social marketing and behavior change interventions to engage citizens. This initial promotional activity will be focused in selected municipalities before going nationwide.
Partners’ food products must meet a high nutritional standard, either by being naturally rich in nutrients or being fortified to acceptable levels; to verify nutritional standards, Baliyo Nepal will be following the Australian Government’s Health Star Rating system and require all products to have a 3 star rating or higher. Other private sector partners have made commitments to support the initiative with funding and value-in-kind support; with their assistance, the Baliyo Nepal brand will be brought to life in a series of educational and marketing activities, including films, corporate sponsorship and packaging design.
The organisation has been funded by the Bill & Melinda Gates Foundation, who issued a grant to the Chaudhary Foundation to support the set-up of Baliyo Nepal. The Gates Foundation continues to support the organisation by connecting Baliyo Nepal with foundation partners in nutrition science, product development, consumer marketing and behavior change. Baliyo Nepal is now governed by a diverse board of leaders from Nepali civil society.

CNI asks ambassadors to focus on economic cooperation

The Confederation of Nepalese Industries (CNI) has asked the newly appointed ambassadors of Nepal to Australia and Spain to focus on expansion of economic cooperation and promotion of tourism.
Organising a meeting with, Nepali ambassador to Australia Mahesh Dahal and, Nepali ambassador to Spain Dawa Futi Sherpa, the CNI raised issues that needed attention to promote Nepal’s trade and tourism.
On the occasion president of CNI Satish Kumar More said that there is a need of active participation of ambassadors to expand the relation with respective countries and investors in major sectors of investment like infrastructure, hydropower, tourism, modern agriculture and information technology to establish Nepal as an international investment destination.
Ambassador Dahal, replying the entrepreneurs said that enhancement of organisational relation between organisations, exchange visit of investors and development of technology to create skilled manpower were his prioritised areas.
Similarly, ambassador Sherpa said the number of tourists hailing from Spain was notable and to further increase the number and for the promotion of tourism, CNI’s support was important. 

President launches movement to make ‘Baliyo’ Nepal

President Bidya Devi Bhandari formally launched Baliyo Nepal, a national movement focused on engaging the nation in the fight against malnutrition, at a special ceremony today at the President’s House.
Baliyo Nepal is led by an independent not-for-profit organization registered with the Government of Nepal since April 2019 and is funded by the Bill & Melinda Gates Foundation.
Baliyo Nepal is committed to work towards ensuring that all Nepalis have access to nutritious and affordable food, along with inspiring all Nepalis to make healthy food choices for their children. It represents a new approach to fighting the problem of hidden hunger in Nepal.
The not-for-profit organisation is developing a range of interventions to improve food habits, with a focus on lower-income adolescent girls, women of reproductive age and children from the age of 6 to 23 months.
The President welcomed this important initiative, telling the audience of influential dignitaries. “Today we are launching a national effort to tackle hidden hunger,” she said, adding that together we can nourish the individual and collective dreams of the next generation. “We have made significant progress through the Multi-Sector Nutrition Plans, but Nepal needs to accelerate its efforts to reduce stunting to 15 percent and beyond by 2030, in line with the UN’s SDGs. We can only do this, if we all act collectively.”
On the occasion, chief minister of Province 5 Shankar Pokharel, said Baliyo Nepal has been launched by President and will begin work in Province 5. “I believe this campaign will help to fight malnutrition providing good health to the citizen and welcome Baliyo Nepal,” he added.
Likewise, speaking at the launch of the initiative today, the chairman of Baliyo Nepal Dr Swarnim Wagle, said that Baliyo Nepal works to ensure that as many Nepalis as possible have access to good, nutritious food and inspire them to make the best choices for their children. “You might not feel it in the belly, but hidden hunger can strike every young Nepali. From the rice-feeding ceremony onwards, everyone has a role to play in helping to give kids a healthy start,” he said, adding that the initiative is designed to educate Nepalis on healthy eating and the need to take action on hidden hunger. “As an ex-chairman of the National Planning Committee, what really makes this effort stand out is the way our organisation is working with the food industry to create more affordable and accessible nutritious food available. “The response from the wider private sector has also been hugely encouraging and their support will allow us to ensure that our behaviour change campaigns reach as many Nepalis as possible.”
”We have all started on this journey together because we believe that it is everyone’s responsibility, not just their parents, to give Nepali children the best start in life,” he added.
Likewise, deputy director at the Private Sector Partnership Development for Nutrition at the Bill & Melinda Gates Foundation Kamel Chida, represented the Foundation at the event, said, “What if I told you we could dramatically accelerate progress and inch towards ending malnutrition in a generation in Nepal? That is the vision of Baliyo Nepal – a future where every Nepali child could grow into their full potential and with them the nation too.”
“We can go farther faster if we go together,” he said, adding that the Foundation welcomes Nepal to join as together we can nourish the dreams of a nation for a Baliyo Nepal. “And if it works in Nepal, this model could also be replicated in other countries.”
Baliyo Nepal for Nepal, Nepal for the World.”
Baliyo Nepal is governed by an independent board of diverse Nepali leaders spanning government, civil society and the private sector. The board members include former Vice-Chair of the National Planning Commission (NPC) Dr Swarnim Wagle, Global Executive Committee Member of Scaling Up Nutrition (SUN) at Geneva and President of the Civil Society Alliance for Nutrition, Nepal Dr. Uma Koirala, former Captain of National Cricket Team Paras Khadka,vice president of the Confederation of Nepalese Industries (CNI) Nirvana Chaudhary,  and CEO of Nabil Bank Anil Shah 
The Baliyo Nepal Nutrition Initiative’s first programme aims at reducing the risk of nutritional deficiencies among children aged 6 to 23 months by promoting healthy complementary feeding options, partnering with companies to grow the consumption of eggs and fortified porridge. The newly-launched organisation will work with the food industry to increase the supply of affordable and nutritious food. It also works to generate demand for more nutritious food by building a movement through social marketing and behaviour change interventions to engage citizens. This initial promotional activity will be focused in selected municipalities before going nationwide.
The organisation will be partnering with food companies that can make genuine impact in nutritional quality, accessibility and affordability. Initially working with four companies -- Shreenagar Agro Farms, Avinash, Bhuramal Lunkarandas Conglomerate and KL Dugar Group -- Baliyo Nepal seeks to increase the consumption of eggs and fortified porridge and the accessibility of these products. For example, BLC & Dugar will launch the first individual affordable single serve sachets of fortified porridge in Nepal beginning in December; such packaging will help in the use of fortified foods, due to convenience and attractiveness that is the hallmark of other, less healthy, products. Partners’ products must meet a high nutritional standard, either by being naturally rich in nutrients or being fortified to acceptable levels; to verify nutritional standards, Baliyo Nepal will be following the Australian government’s Health Star Rating system and require all products to have a 3 star rating or higher.
The organisation has been funded by the Bill & Melinda Gates Foundation, who issued a grant to support the set-up and management of Baliyo Nepal. They continue to support the organization by connecting Baliyo Nepal with other Foundation investments in nutrition science, product development, consumer marketing and behaviour change.

CNI, NRNA seal a deal to attract FDI in Nepal

Confederation of Nepalese Industries (CNI) and Non-Resident Nepali Association (NRNA) agreed to jointly promote investment in the country and Nepali products abroad.
CNI president Satish Kumar More and the newly-elected president of NRNA Kumar Panta signed the agreement on behalf of their institutions. More, on the occasion, said that the role of NRNs in bringing in foreign expertise and technology in Nepal’s industrial development is crucial.
Stressing on the need for NRNs and private sector to work together, he said, that Nepal has a high scope for investment in sectors like infrastructure, hydropower, tourism, agriculture and technology. “These are the sectors, where the private sector and NRNs should coordinate in bringing in foreign investment,” More added.
Similarly, CNI also urged NRNA to make its Investment Fund more effective and mobilise it for country’s development as soon as possible.
Likewise, immediate past president of CNI Hari Bhakta Sharma said that NRNs should contribute to the development process of Nepal by sharing the development experience and expertise of foreign countries.
NRNA president Panta, on the occasion, said that the association will work together with the private sector in Nepal to attract foreign investment, especially in the manufacturing sector. The NRNA will work to bring in foreign investment worth billions of rupees into the country,” he said.
Immediately after being elected to the top post of NRNA, Panta had vowed that NRNs would invest Rs 10 billion in various infrastructure development projects in the country this fiscal year.