Nepal, Malaysia prepare to sign MoU

Malaysia and Nepal are drawing up a Memorandum of Understanding (MoU) on various issues including streamlining the recruitment of workers, said Human Resources Minister Datuk Dr S Subramaniam.
The memorandum, he said, is expected to be finalised by next year.
Speaking after a discussion with Labour and Transport Management (MoLTM) Minister Mohamad Aftab Alam in Kuala Lumpur, he said that there were 175,810 Nepalis working in the manufacturing sector in Malaysia.
Alam led a delegation to celebrate the 50th anniversary of the establishment of diplomatic ties between Nepal and Malaysia.
Dr Subramaniam said that Nepal had also requested that the number of maids from their country to Malaysia be increased.
"There are 84 maids from Nepal at present," Subramaniam said, adding that Malaysia has no objection but it has to make sure the maids are trained well.
The Malaysian minister was very happy with the good bilateral relations between the two countries. "There are many Nepali workers in Malaysia and we hope they would be given opportunity to work in other sectors including in the health sector,” he said.

Indian Railways to construct rail line in Nepal

Indian Railways will execute a 70-km rail line project at an estimated cost of IRs 4700 million in Nepal as part of the move to strengthen ties between the two neighbouring countries, according to the reports.

The project -- to be implement by the Indian Railways -- includes guage conversation between Jai Nagar, India and Janakpur, Nepal spanning a distance of 30-km and laying a new Janakpur-Bardivas line covering a distance of 40-km, Indian Railway East-Central general manager KK Srivastava is quoted as saying.

The parliamentary Public Accounts Committee (PAC) in July had re-directed the Ministry of Labour and Transport Management (MoLTM) and the Nepal Railway Company Ltd to upgrade the quality of the nation’s only railway—Janakpur Jayanagar railway — at the earliest.

Terming the inability to manage the single railway track ‘shameful’, PAC member Rabindra Adhikari has said the ministry and the railway company should be held responsible for their inability to operate the railway in a better manner.

The committee had in 2009 also directed the government to upgrade the narrow gage track to broad gage one.

The government's 10-year strategic plan has also proposed a Janakpur-Bardibas track also. The strategy focuses on strengthening and better managing the 51-km long railway line -- now only 29-km operational -- to upgrade its service standard to provide better services.

The Indian railway ministry has given its nod for the project and released Rs100 milliobn as first installment for the purpose, Srivastava has been quoted by the reports

Billionaire Saudi Prince promises investment in Nepal

Visiting Saudi Arabian billionaire prince Al-Waleed bin Talal has promised investment on airlines, tourism, and heritage in Nepal. Talking to media after his meeting with deputy prime minister Sujata Koirala and six cabinet ministers at Hotel Yak & Yeti, the world’s 19th richest person expressed his interest in investment in Nepal. He is also positive on establishing Saudi Arabia's consular office in Kathmandu. “He is positive on opening consular office to facilitate Nepali migrant workers apart from opening of training centre for Nepali migrant workers," Minister for Labour and Transport Management (MoLTM) Mohamed Aftab Alam said -- quoting the prince -- after a meeting with him at the hotel. Nepal has been urging Saudi government to open diplomatic mission in Kathmandu since last year as it is the second biggest destination for Nepali blue collar workers after being overtaken by Malaysia some years back. Acdcording to the Department of Foreign Employment (DoFE) data, the destination has hired 356,347 Nepali workers in last one and half decade and 15,149 workers this year. However, it is providing jobs to over half a million Nepalis, if undocumented workers also be counted. As many as 67,000 undocumented Nepali women workers were also found working in the host country last year. Responding to minister Alam's urge to provide migrants' rights, the Prince said that Saudi Arabia respects foreign workers. Similarly, the prince has also shown interest to start direct flight between the two countries, according to Alam. The 55-year-old, who arrived in Kathmandu in his private jet on Saturday accompanied by his wife, Princess Amira, and an entourage of aides and bodyguards, is the 19th richest man in the world according to the Forbes magazine. Nicknamed Arabian Warren Buffett by Time magazine, he has invested in several business undertakings including in Rotana Audio and Video Company, Lebanese Broadcasting Center, News Corp, City Group and Apple Ink since he entered into business in 1971. He is also the chairman of Kingdom Holding Company (KHC). The Prince's activities as an investor came to prominence when he bought a substantial tranche of shares in Citicorp in the 1990s when that firm was in difficulties. Later, he also made large investments in AOL, Apple Inc., MCI Inc., Motorola, News Corporation Ltd and other technology and media companies. Al-Waleed, who made his over $19 billion fortune by investing in the banking and hotel industries, is expected to invest in Nepal that needs huge investment to create jobs and kick start economic growth. Prince Al-Waleed also visited Bhutan yesterday afternoon from Nepal and returned in the evening. He is flying back tomorrow. Earlier, he met President Dr Ram Baran Yadav in the afternoon. The president conferred him Maha Ujjwal Rashtradeep honour. A Cabinet meeting in the morning had decided and recommended President Yadav to confer the award on the prince, who is the first to receive the country’s biggest honour reserved for foreigners after Nepal became republic in 2008. DPM Koirala Koirala said the government honoured the Saudi prince to strengthen the bilateral relations. In the evening, before meeting the Prime Minister Madhav Kumar Nepal at his official residence Baluwatar, the prince also visited United World Trade Centre (UWTC) in Tripureshwor.

NOC slashes diesel, kerosene prices, ATF prices

Nepal Oil Corporation (NOC) on Tuesday reduced diesel and kerosene prices by Rs 2.50 to Rs 50 per litre. There has been a revision of Air Turbine Fuel (ATF) prices as well. The international airlines will now have to pay $750 per kilolitre. While, domestic airlines have to pay Rs 70 per litre.The price of cooking gas has not been reduced because the NOC continues to incur a loss of Rs 28 per cylinder. The company has also managed to reduce its liabilities to Rs 13.5 billion.


Fuel price cut brings no joy for consumers
Nepal Oil Corporation (NOC) has today reduced the price of petroleum products for the fifth time since October 2008.
However, the price reduction in petroleum prices could be benefit for the passengers as the transport entrepreneurs syndicate has not reduced transportation fare. “The transport entrepreneurs are literally ‘looting’ the people,” said Suman Neupane, a student from Nawalparasi, who travels by public transportation means.
Not only the passengers, the common people is also forced to pay higher price for commodities due to high transportation cost. According to Nepal Rastra Bank’s seven months data, the inflation stands at 14.4 per cent, over double than the target of seven per cent.
The transport entrepreneurs are, however, adament on fare reduction. “We want the government to bring a scientific pricing policy,” said one transport entrepreneur, who is convinced that the its cartelling not to reduce transportation fare.
The Ministry of Labour and Transport Management (MoLTM) could not effectively direct the transport entrepreneurs on fare reduction.
Though the ministry is said to have been preparing a scientific transportation fare system, the system could not see light of day till date. “We have planned to make public the scientific transportation fare system from February 12,” an official at the ministry said adding that the pressure from the transport entrepreneurs have stopped the ministry officials to make it public. “Even if the ministry fixed the new rate, the transport entrepreneurs will not comply by the new fare,” he confided. “Earlier also after reduction of petroleum prices, the ministry has fixed the transport fare but it could not be implemented due to syndicate of transport entrepreneurs.”
Though, government and some entrepreneurs wanted to reduce the fare, “most of the transport entrepreneurs are against reduction.”
Nepal National Transport Entrepreneurs Federation’s general secretary Dolnath Khanal said that the new fare structure will come anytime soon.