The monthly tourist arrivals by air posted a record in October, but as the Nepal Tourism Year 2011 (NTY 2011) draws to an end, meeting its target seems to be farfetched.
According to Immigration Office, Tribhuwan International Airport (TIA), visitor arrivals in October touched a record 73,264 — an increment by 16.8 per cent compared to the same month last year — for the first time in the tourism history of Nepal.
However, the total arrivals this year — from January to October in 10 months — touched only 443,108, making it seem almost impossible to meet the target of hosting 700,000 by air, though the first 10 months arrivals recorded 21.7 per cent growth compared to the same period in 2010.
South Asian and Chinese arrivals have been continuously recording a sustained growth."The arrivals from SAARC region have shown positive growth of 19.4 per cent with India (up by 26.2 per cent) and Pakistan (up by 11.3 per cent) but arrivals from Bangladesh and Sri-Lanka declined by 10.2 per cent and 13 per cent, respectively, the data revealed, however, adding that a sustained growth of 33.7 per cent has been observed in the arrivals from the SAARC region during the first ten months of 2011 compared to the same period last year.
Similarly, Asia — except South Asian region — saw overall increase of 40 per cent in October. Except for Malaysia (down by one per cent), almost all the markets recorded positive growth with China (up by 105.9 per cent), Japan ( up by 7.3 per cent), Singapore (up by 5.7 per cent), South Korea (up by 29.4 per cent) and Thailand (up by 23.6 per cent) compared to the same month a year ago.
In the long haul markets, Europe registered overall positive growth of 15.1 per cent compared to the same month last year with total visitor arrivals of 34,166, highest of all on month-by month basis this year, though travel trade entrepreneurs were worried of the fall in European visitors in the beginning of the year.
Arrivals from Belgium, Denmark, Germany, Italy, Israel, Spain, Switzerland and UK were up by 18.2 per cent, 48.8 per cent,19.3 per cent, 25.5 per cent, 88.3 per cent, 20.7 per cent, 15.8 per cent, and 7.3 per cent, respectively, while, France and the Netherlands registered negative growth by 3.9 per cent and 17.1 per cent, respectively compared to the same month last year.
Similarly, the figures show overall decrease of 5.4 per cent from Oceania with Australia (down by 0.2 per cent) and New Zealand (down by 30.4 per cent). Likewise, Canada also recorded negative growth of 0.2 per cent whereas arrivals from the US of America were up by 5.4 per cent.
A total of 69,115 foreign tourists departed whereas 52,952 Nepalis departed from TIA in October but TIA recorded some 70,531 Nepalis arrivals.
Increment in arrivals
India — up by 42.4 per cent
China — up by 66.7 per cent
USA — up by 14.3 per cent
Germany — up by 11.2 per cent
UK — up by 6.6 per cent
France — up by 3.8 per cent
(First ten months of 2011 compared to the same period in 2010. Source: Nepal Tourism Board, NTB)
Wednesday, November 2, 2011
Government hikes public transport fare
The government hiked transport fare by 9.9 per cent today citing petroleum price hike in recent past.
"We adjusted public transport fares according to petroleum price hike," director general of Department of Transport Management (DoTM) Dangol, said, claiming that the department has taken scientific measures to hike public transport fare.
"Transporters have been pressuring to revise fare since months," he added.
Federation of Nepalese National Transport Entrepreneurs (FNTE) has been pressuring the government to hike transport fare by at least by 17 per cent since July.
According to the new hike, people travelling by public transport in Kathmandu Valley have to pay at least Rs 1.18 more from Friday from current minimum transport fare of Rs 12.
However, consumer rights activists have criticised the decision saying the decision is 'irrational' and unscientific.
"The hike is not scientific as it does not correspond with diesel price hike," said secretary of Forum for Protection of Consumer Rights-Nepal Netra Dhital.
According to him, the government has hiked 9.9 per cent transport fare, while Nepal Oil Corporation (NOC) has hiked diesel price by 5.92 per cent recently since last hike of February 2.The state-oil monopoly had hiked diesel price three times – from Rs 68.50 to Rs 76 in a litre — this year. Petrol price has been hiked from Rs 88 to Rs 105 per litre recently.
“Most of the public vehicles run by diesel, so the hike is not only unscientific but also fuel inflation," he said, adding that the decision will hit the common people the most. "We urge the government to withdraw the decision and hike the fare according to the scientific rate prescribed by Institute of Engineering, Tribhuvan University (TU).
Some three years ago, the engineering college had suggested calculation of fuel cost to 30-35 per cent in the total transportation operation cost. However, the government has not applied the suggestion except once in March 26, 2009.
"We adjusted public transport fares according to petroleum price hike," director general of Department of Transport Management (DoTM) Dangol, said, claiming that the department has taken scientific measures to hike public transport fare.
"Transporters have been pressuring to revise fare since months," he added.
Federation of Nepalese National Transport Entrepreneurs (FNTE) has been pressuring the government to hike transport fare by at least by 17 per cent since July.
According to the new hike, people travelling by public transport in Kathmandu Valley have to pay at least Rs 1.18 more from Friday from current minimum transport fare of Rs 12.
However, consumer rights activists have criticised the decision saying the decision is 'irrational' and unscientific.
"The hike is not scientific as it does not correspond with diesel price hike," said secretary of Forum for Protection of Consumer Rights-Nepal Netra Dhital.
According to him, the government has hiked 9.9 per cent transport fare, while Nepal Oil Corporation (NOC) has hiked diesel price by 5.92 per cent recently since last hike of February 2.The state-oil monopoly had hiked diesel price three times – from Rs 68.50 to Rs 76 in a litre — this year. Petrol price has been hiked from Rs 88 to Rs 105 per litre recently.
“Most of the public vehicles run by diesel, so the hike is not only unscientific but also fuel inflation," he said, adding that the decision will hit the common people the most. "We urge the government to withdraw the decision and hike the fare according to the scientific rate prescribed by Institute of Engineering, Tribhuvan University (TU).
Some three years ago, the engineering college had suggested calculation of fuel cost to 30-35 per cent in the total transportation operation cost. However, the government has not applied the suggestion except once in March 26, 2009.
Peace deal pushes Nepse up?
The prospect of logical conclusion of peace process has lifted the spirit of investors pushing the share market up by 16.61 points today.
The index that stood at 330.21 points as the stock market opened for business surged to 346.82 points as the market was shut down by the operation of third circuit breaker before one hour of regular trading. The stock prices of the listed companies went through massive surge today so that the circuit breakers were triggered for three times.
"The political consensus of yesterday has been received as harbinger of better times in the capital market so the investors purchased shares even paying a little higher with the expectation for future increment in share price," said president of Stock Brokers Association of Nepal (SBAN) Anjan Raj Poudel.
However, some experts doubt the sustainability of market. They claimed that some of the big investors might have taken benefit as they were waiting to exit from the market. “If the market continues to look up, then only we can claim that the peace deal has boosted market confidence,” they added.
The index that stood at 330.21 points as the stock market opened for business surged to 346.82 points as the market was shut down by the operation of third circuit breaker before one hour of regular trading. The stock prices of the listed companies went through massive surge today so that the circuit breakers were triggered for three times.
"The political consensus of yesterday has been received as harbinger of better times in the capital market so the investors purchased shares even paying a little higher with the expectation for future increment in share price," said president of Stock Brokers Association of Nepal (SBAN) Anjan Raj Poudel.
However, some experts doubt the sustainability of market. They claimed that some of the big investors might have taken benefit as they were waiting to exit from the market. “If the market continues to look up, then only we can claim that the peace deal has boosted market confidence,” they added.
Nepal, Czech Republic plan joint economic council
Nepal and Czech Republic today agreed to form a joint economic council (JEC) to boost bilateral trade and investment opportunities.
During the meeting with Finance Minister Barsha Man Pun today at his office, the visiting Czech assistant minister for Environment Ivo Hlavac proposed to form a joint economic council.
Nepal has formed joint economic council with many countries including China, India and Bangladesh to boost the bilateral trade and investments.
Formation of joint economic council is a good start for joint projects, the visiting Czech minister said, showing interest on investment in electricity, water and sanitation management of big cities like Kathmandu.
Pun urged the Czech entrepreneurs to invest in Nepal without any fear. "Nepal is ready to protect foreign investment," he said, adding that the country is moving towards stability as yesterday the major parties signed a peace deal. "Nepal is gradually heading towards economic development and it welcomes foreign direct investment (FDI). The 12-member Czech business team and government officials are visiting Nepal from November 2 to 6 for the first time. The team also met other ministers.
During the meeting with Finance Minister Barsha Man Pun today at his office, the visiting Czech assistant minister for Environment Ivo Hlavac proposed to form a joint economic council.
Nepal has formed joint economic council with many countries including China, India and Bangladesh to boost the bilateral trade and investments.
Formation of joint economic council is a good start for joint projects, the visiting Czech minister said, showing interest on investment in electricity, water and sanitation management of big cities like Kathmandu.
Pun urged the Czech entrepreneurs to invest in Nepal without any fear. "Nepal is ready to protect foreign investment," he said, adding that the country is moving towards stability as yesterday the major parties signed a peace deal. "Nepal is gradually heading towards economic development and it welcomes foreign direct investment (FDI). The 12-member Czech business team and government officials are visiting Nepal from November 2 to 6 for the first time. The team also met other ministers.
Tuesday, November 1, 2011
Casinos operating ‘illegally’: Ministry
Most of the casinos are operating ‘illegally’, according to Ministry of Tourism and Civil Aviation (MoTCA) as they have not renewed their licences.
“Only Casino Shangri-La has renewed its licence so far,” joint secretary at the ministry Ranjan Krishna Aryal said, adding that other casinos are operating without any legal status as they have failed to renew licence according to the law.
A casino has to pay Rs 20 million at the beginning of the fiscal year to renew its licence. It can also renew the licence within the three months of the fiscal year after paying fine but no one, except Shangri-La has renewed its licence, according to the law.
“Home Ministry should close the casinos, as they are operating illegally, he said, adding that it is the jurisdiction of Home Ministry to check whether casinos are operating legally or not. “And Home Ministry should close down those casinos, which are operating illegally.”
Ministry of Tourism and Civil Aviation regulates only one casino — Casino Shangri-La — at present, since it is the only legal casino operator, he clarified.
Casinos that are in operation have breached Financial Act, according to Aryal. He also expressed his discontent over dillydallying of Home Ministry to close casinos that have not renewed their licence.
The Ministry of Tourism and Civil Aviation has already informed Home Ministry and Economic and Labour Relation Committee under Legislature Parliament about the legal status of the casinos, Aryal said.
But the ministry has not yet received any information whether Home Ministry has taken action against the illegal casinos that have failed to renew their licence or not. “If Home Ministry has not taken any action, it’s their inefficiency to enforce law and order,” he further said.
There are 10 casinos in Nepal — Casino Royale at Hotel & Yeti, Casino Venus at Hotel Malla, Casino Rad at Hotel Radisson, Casino Grande at Hotel Pokhara Grande, Fulbari Casino at Hotel Fulbari, Casino Nepal at Hotel Soaltee, Casino Anna at Hotel de’l Annapurna, Casino Everest at Hotel Everest, Casino Tara at Hotel Hyatt and Casino Shangri-La at Hotel Shangri-La. Of the total, two casinos are in Pokhara and rest are in the Kathmandu Valley.
Among them, four casinos also have Rs 326.18 million outstanding royalty dues.
“Only Casino Shangri-La has renewed its licence so far,” joint secretary at the ministry Ranjan Krishna Aryal said, adding that other casinos are operating without any legal status as they have failed to renew licence according to the law.
A casino has to pay Rs 20 million at the beginning of the fiscal year to renew its licence. It can also renew the licence within the three months of the fiscal year after paying fine but no one, except Shangri-La has renewed its licence, according to the law.
“Home Ministry should close the casinos, as they are operating illegally, he said, adding that it is the jurisdiction of Home Ministry to check whether casinos are operating legally or not. “And Home Ministry should close down those casinos, which are operating illegally.”
Ministry of Tourism and Civil Aviation regulates only one casino — Casino Shangri-La — at present, since it is the only legal casino operator, he clarified.
Casinos that are in operation have breached Financial Act, according to Aryal. He also expressed his discontent over dillydallying of Home Ministry to close casinos that have not renewed their licence.
The Ministry of Tourism and Civil Aviation has already informed Home Ministry and Economic and Labour Relation Committee under Legislature Parliament about the legal status of the casinos, Aryal said.
But the ministry has not yet received any information whether Home Ministry has taken action against the illegal casinos that have failed to renew their licence or not. “If Home Ministry has not taken any action, it’s their inefficiency to enforce law and order,” he further said.
There are 10 casinos in Nepal — Casino Royale at Hotel & Yeti, Casino Venus at Hotel Malla, Casino Rad at Hotel Radisson, Casino Grande at Hotel Pokhara Grande, Fulbari Casino at Hotel Fulbari, Casino Nepal at Hotel Soaltee, Casino Anna at Hotel de’l Annapurna, Casino Everest at Hotel Everest, Casino Tara at Hotel Hyatt and Casino Shangri-La at Hotel Shangri-La. Of the total, two casinos are in Pokhara and rest are in the Kathmandu Valley.
Among them, four casinos also have Rs 326.18 million outstanding royalty dues.
Global food prices remain high, volatile affecting poorest countries the most
Global food prices remain high and volatile, hitting the poorest countries hardest and adding to the strains facing the global economy, according to the World Bank Group’s new Food Price Watch.
While the Bank’s food price index has dropped by five per cent from its February 2011 peak and dipped marginally in September by one per cent, it remains 19 per cent above its September 2010 levels.
According to Food Price Watch, a quarterly report, recent floods in Thailand-the worst in 50 years-may add uncertainty in the short run following estimated production losses of between 16 to 24 per cent of total production. In the meantime, the food crisis in the Horn of Africa continues, affecting over 13.3 million people in the region–an additional million since August, and the outlook remains frightening.
The report said prices of grains rose by 30 per cent (September 2010–September 2011), with maize increasing by 43 per cent, rice by 26 per cent and wheat 16 per cent. Soybean oil went up by 26 per cent. Over the last quarter, however, an increase of three per cent in the price of grains was roughly offset by a three per cent decline in the prices of fats and oils.
Volatility, which is higher in low income countries, is expected to persist in the medium term due to multiple global and domestic factors. Structural factors contributing to the volatility include rising populations and changing diets, increasingly intertwined relations between food and energy prices, and increasing production of bio-fuels.
On the other hand, a favourable outlook on supply and stocks is likely to relieve some of the pressure on global food prices. Latest forecasts show global wheat stocks reaching a 10-year high in 2011-12, global production of maize to rise by four per cent from increased production in Argentina, Brazil, China, Russia, and Ukraine.
Global rice output is also likely to get a boost in 2011-12 due to an expected bumper harvest in India following very favourable monsoon rains. These production gains in some markets underscore the critical need to keep international markets open, to get food where it is needed, provide incentives to farmers who expand production, and avoid panic behavior created by export bans.
While a troubled global economy could dampen demand and push food prices down, the effect on developing countries would be mixed-hurting food exporting countries and poor producers in rural areas, and benefiting food importers and consumers. The problem, Food Price Watch warns, is that developing countries might have now limited resources to protect vulnerable populations following the economic crisis and stimulus spending.
In addition, fears associated with the global economy may affect medium to long-term investments in agricultural research and more productive agricultural techniques, especially amid persistent volatility. Among the ongoing efforts to improve volatility-related information, the G-20 agriculture ministers introduced the Agricultural Market Information System (AMIS), officially launched in September, to increase market transparency on the short-term global food outlook, especially stocks, and to identify abnormal international market conditions in order to prompt early responses.
"The food crisis is far from over,” said World Bank Group president Robert B Zoellick, who has urged the G-20 to put food first. "Prices remain volatile and millions of people around the world are still suffering. The World Bank has been working closely with the French Presidency of the G-20 and our partner international organisations on actions to protect the most vulnerable from the dangers of food price volatility, while also addressing some of its root causes.
"Let's remember, averting crisis is not just about banks and debt," he said, adding that millions of people around the world face a daily crisis of hunger and malnutrition.
The Group of 20 heads of government, who will meet in Cannes on November 3-4 to discuss the global economy, are expected to endorse a package of concrete actions to improve transparency and policy coordination to detect and correct problems early; to help countries manage price volatility using sound risk management tools; to promote more productive and resilient agriculture; and to get food to the needy fast through emergency regional humanitarian food reserves and agreement not to ban exports of food for World Food Programme (WFP).
As the world population reaches a staggering seven billion people, it is more important than ever for the global community to galvanise around actions to improve food security.
While the Bank’s food price index has dropped by five per cent from its February 2011 peak and dipped marginally in September by one per cent, it remains 19 per cent above its September 2010 levels.
According to Food Price Watch, a quarterly report, recent floods in Thailand-the worst in 50 years-may add uncertainty in the short run following estimated production losses of between 16 to 24 per cent of total production. In the meantime, the food crisis in the Horn of Africa continues, affecting over 13.3 million people in the region–an additional million since August, and the outlook remains frightening.
The report said prices of grains rose by 30 per cent (September 2010–September 2011), with maize increasing by 43 per cent, rice by 26 per cent and wheat 16 per cent. Soybean oil went up by 26 per cent. Over the last quarter, however, an increase of three per cent in the price of grains was roughly offset by a three per cent decline in the prices of fats and oils.
Volatility, which is higher in low income countries, is expected to persist in the medium term due to multiple global and domestic factors. Structural factors contributing to the volatility include rising populations and changing diets, increasingly intertwined relations between food and energy prices, and increasing production of bio-fuels.
On the other hand, a favourable outlook on supply and stocks is likely to relieve some of the pressure on global food prices. Latest forecasts show global wheat stocks reaching a 10-year high in 2011-12, global production of maize to rise by four per cent from increased production in Argentina, Brazil, China, Russia, and Ukraine.
Global rice output is also likely to get a boost in 2011-12 due to an expected bumper harvest in India following very favourable monsoon rains. These production gains in some markets underscore the critical need to keep international markets open, to get food where it is needed, provide incentives to farmers who expand production, and avoid panic behavior created by export bans.
While a troubled global economy could dampen demand and push food prices down, the effect on developing countries would be mixed-hurting food exporting countries and poor producers in rural areas, and benefiting food importers and consumers. The problem, Food Price Watch warns, is that developing countries might have now limited resources to protect vulnerable populations following the economic crisis and stimulus spending.
In addition, fears associated with the global economy may affect medium to long-term investments in agricultural research and more productive agricultural techniques, especially amid persistent volatility. Among the ongoing efforts to improve volatility-related information, the G-20 agriculture ministers introduced the Agricultural Market Information System (AMIS), officially launched in September, to increase market transparency on the short-term global food outlook, especially stocks, and to identify abnormal international market conditions in order to prompt early responses.
"The food crisis is far from over,” said World Bank Group president Robert B Zoellick, who has urged the G-20 to put food first. "Prices remain volatile and millions of people around the world are still suffering. The World Bank has been working closely with the French Presidency of the G-20 and our partner international organisations on actions to protect the most vulnerable from the dangers of food price volatility, while also addressing some of its root causes.
"Let's remember, averting crisis is not just about banks and debt," he said, adding that millions of people around the world face a daily crisis of hunger and malnutrition.
The Group of 20 heads of government, who will meet in Cannes on November 3-4 to discuss the global economy, are expected to endorse a package of concrete actions to improve transparency and policy coordination to detect and correct problems early; to help countries manage price volatility using sound risk management tools; to promote more productive and resilient agriculture; and to get food to the needy fast through emergency regional humanitarian food reserves and agreement not to ban exports of food for World Food Programme (WFP).
As the world population reaches a staggering seven billion people, it is more important than ever for the global community to galvanise around actions to improve food security.
Take action against VAT evaders: FNCCI
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said that the state should not spare firms, traders, organisations or persons, who have cheated revenue 'intentionally'.
"The apex body of the private sector is firmly committed that all taxpayers should pay tax according to law," it said, adding that fair entrepreneurship should be promoted by taking action against all the persons, firms and companies involved in tax evasion.
It has also demanded comprehensive investigation on the VAT defaulters and asked them to bring to book. "However, the government and all concerned stakeholders should be careful in portraying all the business community as 'tax defaulters.'
"Otherwise, it may have negative impact on national economy," it said.
The FNCCI has also blamed the bureaucracy for the VAT fraud scam. "Revenue leakage of this amount is impossible without involvement, weaknesses and errors in tax system, tax administration and government officials, it said, adding that the scam has revealed the need of improvement in revenue administration too.
"The apex body of the private sector is firmly committed that all taxpayers should pay tax according to law," it said, adding that fair entrepreneurship should be promoted by taking action against all the persons, firms and companies involved in tax evasion.
It has also demanded comprehensive investigation on the VAT defaulters and asked them to bring to book. "However, the government and all concerned stakeholders should be careful in portraying all the business community as 'tax defaulters.'
"Otherwise, it may have negative impact on national economy," it said.
The FNCCI has also blamed the bureaucracy for the VAT fraud scam. "Revenue leakage of this amount is impossible without involvement, weaknesses and errors in tax system, tax administration and government officials, it said, adding that the scam has revealed the need of improvement in revenue administration too.
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