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Price of gold hits Rs 140,900 per tola

Published Date : May 19, 2024

Kathmandu, May 19: The price of gold has climbed in the domestic market. According to the Federation of Nepal Gold and Silver Dealers’ Associations, the price of hallmark gold has increased by Rs 1,600 per tola (11.66 grams) and reached Rs 140,900. Hallmark gold was traded at Rs 139,300 on Friday.

Similarly, the price of worked gold has reached Rs 140,200 whereas it was traded at Rs 38,650 on Friday.

Nepal hosting International Dialogue on climate change issues of mountainous countries

Kathmandu, May 19: A mountainous country, Nepal, has been for long raising voice in the international forums on the impact of climate change on the Himalayas.

As a result of this, the UN Conference on Climate Change (COP-28) held last year for the first time incorporated in its decision the impact of climate change on the Himalayas, and has been emphasizing on the effective implementation of the responses to lessen this impact.

In this connection, Nepal is hosting an ‘International Dialogue’ on May 22 and 23 in Kathmandu to anchor this issue internationally under own leadership. 

Experts from 23 countries are participating in the two-day event that aims to strengthen coordination and prioritize mountain-centric priorities and actions within the broader context of climate change. The theme of the dialogue is, “Mountains, People, and Climate Change”.

More than 200 delegates from the mountainous countries inclusive of Nepal and the island nations, the international community, development partners, the international non-governmental organisations, the private sector as well as the representatives of civil society will take part in the dialogue.

Joint Secretary at the Ministry of Forests ad Environment, Dr Maheshwar Dhakal said that the objective of this dialogue of experts on climate change issues is to prioritize and strengthen in a coordinated way works related to the mountain ecosystem based climate resilience.

“Climate change is a global agenda and mountainous countries like Nepal have been facing more problems related to it. We have prepared to establish the issue of adverse impact of climate change on mountainous countries under Nepal’s leadership, further internationalizing this topic through the dialogue,” he said.  

Joint Secretary Dhakal also said the dialogue aims to enhance the negotiating capacity of mountainous countries on climate change and to exert pressure on the international community to mobilize sources required for climate adaptation and reduction of climate change impacts.

“The climate change incidences are increasing day by day. They are comparatively more in the mountainous and hilly regions. Therefore, this International Dialogue will also be useful for raising institutional voice in a stronger manner,” he added.

The Chairperson of the UNFCCC Subsidiary Body for Implementation (SBI) and Subsidiary Body for Scientific and Technological Advice (SBSTA) will also attend the dialogue. Similarly, the representative of the UNFCCC Secretariat and the representatives of UN agencies, the World Bank, the Asian Development Bank and other agencies will also participate in the discussions.

The Dialogue has the goal of forging collaboration among the mountainous countries and the stakeholders in the programmes under the UNFCCC.

Chief of the Ministry’s Climate Change Management Division, Joint Secretary Dr Buddhi Sagar Poudel said this conference will help in understanding the issues of climate change impact in the Himalayan region and their solution at a deeper level.

“Our conclusion is that this Dialogue will contribute to integrate the expertise and experiences on the topic and also to develop mountain climate resilience strategy along with common resolve,” Poudel added.

Prime Minister Pushpa Kamal Dahal ‘Prachanda’ is scheduled to inaugurate the Dialogue featuring nine sessions covering three major thematic issues. These sessions will focus on climate change science, mountaineering facts and data, measures for mountaineering resilience based on nature, and the exploration of potential sources and opportunities for the protection of mountain regions.

The Dialogue will delve into the impact of climate change, its crisis and risks, climate change policies for prosperity, climate change adaptation in local leadership, climate change justice, gender equality, and local concerns. Moreover, it will press for the promotion of investment in clean and green energy, climate finance accessibility, and the enhancement of international and regional partnerships to tackle climate change issues.

Dr Popular Gentle, Climate Change and Environment Advisor to Prime Minister Dahal, hopes that the Dialogue will provide a platform to discuss and highlight the impact of climate change and its risks in mountainous regions.

It aims to identify common climate agendas and problems faced by mountain countries, by advocating for the rights of communities residing in or depending on the Himalayan region regarding climate change matters, he added.

The event also aims to minimize the loss caused by climate change in mountain communities’ lives and livelihoods by promoting adaptation measures, clean energy, innovations, and research exploration. Capacity enhancement for mountain communities and the promotion of multiparty cooperation and partnership on climate change finance will be stressed.

The Dialogue aims to prepare a substantive roadmap and strategies for the 60th session of the Subsidiary Body for Scientific and Technological Advice and the Body for Implementation (SB 60) of the United Nations Framework Convention on Climate Change (UNFCCC) in Bonn, Germany, scheduled for June 3-13.

The mountain region serves as a primary host for over 15 percent of the world’s population’s needs for food, shelter, and clothing, as well as habitats for over 15 percent of wildlife, including plants. However, mountain countries have been deprived of the expected benefits from this because they have either failed to raise their issues and concerns strongly in international forums or have not received international recognition.

The issue of mountains was accepted by the global community for the first time at the Dubai Conference. The COP-28 held in Dubai, United Arab Emirates from November 30 to December 12 decided for the first time about the climate crisis surfacing in the mountainous region. The conference instructed to organize an “expert dialogue on mountains, humans and climate change” at the 60th meeting of UNFCCC’s “SBSTA” to be held in June.

Ever since the COP-15 in Copenhagen, Denmark in 2009, the effect of climate change on the Himalayan ecosystem has been drawing the world’s attention. In most of the conferences since then, Nepal has been raising the issue of Himalayas with a high priority, but relatively little has been achieved in this regard. The Secretary General of the United Nations, Antonio Guterres, mentioned Nepal’s name at the opening ceremony of the COP-28, mentioning the impact on the mountains due to the increase in global temperature.

The secretary general also visited Everest and Annapurna base area last November on the eve of the conference. His visit also made it easier for Nepal to raise the issue of Himalayas in the global arena. Under the leadership of Prime Minister Dahal, Nepal organized a high-level round-table meeting for the first time with the presentation of the issue of mountain regions in the COP-28.

According to the Paris Agreement, the world community has agreed not to allow the temperature of the earth to rise above 1.5 degrees Celsius by the end of this century. It is estimated that before 2050, the temperature of the Himalayan region will exceed 1.8 degrees Celsius. The increase in temperature has increased the risk of melting two-thirds of the glaciers of the mountains in this region.

Analyzing the data of the previous decade, the temperature in the mountains is increasing at a ratio of zero.05 degrees Celsius per decade. With the increase in temperature, the melting of glaciers is also increasing. Its direct impact is from the ecosystem of the Himalayan region to the island nation.

Due to the increase in temperature during the period from 1980 to 2010, the area of ​​the glacier has decreased by 25 percent. According to the International Centre for Integrated Mountain Development (ICIMOD), there are currently 2,700 glaciers in Nepal and 21 of them are at risk, while 25 glaciers in the Autonomous Region of China and one in India are at risk.

House of Representatives to meet at 2.00pm

Kathmandu, May 19: The House of Representatives (HoR) is to meet at 2.00pm today. Earlier, the meeting was scheduled for 11.00am today.

HoR Secretary-General Padma Prasad Pandeya said that the meeting has been postponed as it could not convene at the stipulated time due to a special reason.

Although the political parties are agreed on the topic of constituting a parliamentary investigation committee on the embezzlement of the cooperatives’ amount, the terms of reference (TOR) of the committee has not been finalized yet.

The main opposition party, Nepali Congress, has been obstructing the parliament business,  raising this topic.  

The parties are in talks at present regarding finalizing the TOR of the investigation committee.

A meeting of the opposition parties that took place today itself has decided to allow the parliament to proceed ahead with its proceedings only after finalizing the parliamentary investigation committee’s TOR.

Nepali Congress Chief Whip Ramesh Lekhak said the parliamentary investigation committee would be formed and the House proceedings would be moved ahead only after finalizing the committee’s TOR.

NA session postponed till 3.15 pm 

Kathmandu, May 19: A meeting of the National Assembly (NA) scheduled for 1:15 pm today has been put off by two hours.

The Federal Parliament Secretariat informed about this.                  

According to Secretariat assistant spokesperson, Dasharath Dhamala, the session has been rescheduled for 3:15 today.

The meeting was put off as the meeting between the ruling parties and the major opposition Nepali Congress (NC) to finalize a mandate for forming a parliamentary committee to probe the alleged misappropriation of the cooperative funds is underway.

Prior to this, the lower house session was put off for 2:00 pm today.

Oppositions agree to listen to Home Minister Lamichhane in lower house

Kathmandu, May 19: Opposition parties in the House of Representatives (HoR) have decided to allow Deputy Prime Minister and Minister for Home Affairs, Rabi Lamichhane, to put his views in the lower house session today.

A joint meeting summoned by major opposition Nepali Congress (NC) President Sher Bahadur Deuba at the Federal Parliament Building in New Baneshwor today agreed to listen to the Home Minister.

According to NC Chief Whip Ramesh Lekhak, the oppositions welcomed the agreement between the government and oppositions on Saturday to establish a parliamentary committee for an investigation into the alleged role of Minister Lamichhane in the misappropriation of cooperative funds.

The meeting demanded that the committee be formed after the Minister put the views in the meeting and it will prevent the meeting from entering its agenda until the committee is formed.

Top leaders from the NC, the Rastriya Prajatantra Party, Janata Samajbadi Party (People’s Socialist Party) Nepal, and the Loktantrik Samajbadi Party (Democratic Socialist Party) Nepal were present at the meeting.

The NC has for long enforced the obstructions in the lower house proceedings alleging the involvement of the Deputy Prime Minister in the embezzlement of cooperative funds. It demands the formation of a parliamentary committee to ensure a fair investigation into the matter.

Foreign intervention should be avoided: UML General Secretary Pokhrel

Dang, May 19: CPN (UML) General Secretary Shankar Pokhrel has said that foreign interference should be ended. In a press conference organized by Press Chautari Dang in Tulsipur today, he said that the current alliance was formed without any external interference.

“This alliance is an effort to ensure that Nepal’s political parties are capable in decision-making process without any external interference. Those who are not satisfied with this effort are still trying to create instability,” he said.

UML leader Pokhrel said that according to the political party act having the provision of 20 percent members either in parliament or central committee to split the party was brought to break the then UML in the past, it has now split into smaller parties.

“But it was mistakenly understood that incumbent ruling coalition initiated the provision for the same,” the UML general secretary said, adding that the activities going on in the Parliament have not given a good message.

Pokhrel argued that anyone could be guaranteed the right to give his/her clarification over the allegation against him or her. He says that the main problems surfaced in Nepal are political instability, anarchy and encroachment on indigenous culture. He noted that the indications of economic reforms were seen of late in the country.

NEA distributes electricity metres for free in Chepang settlements

Kathmandu, May 19: Electricity supply has been connected via the national grid to the remote settlements in Dhading and Chitwan with majority Chepang population. The Chepangs are a minority community.

Electrification has been carried out at remote Chepang settlements at Gajuri and Benighat Rorang rural municipalities in Dhading district and at Ichhakamana rural municipality in Chitwan, extending the national power transmission line.

The Nepal Electricity Authority (NEA) has also provided electricity metres to the Chepang households at free of cost. NEA has been distributing electricity metres for free to the backward and economically impoverished families unable to afford the device for expanding their access to electricity.

The people belonging to the indigent class are provided with a ‘single-phase energy metre of 5-30 amperes capacity’ and MCB box as per the NEA standard free of cost under this scheme. NEA also does not charge fees for installing the metres.

NEA Executive Director Kulman Ghising announced at a programme organized at Kaling, Ward No 1 of Ichhakamana rural municipality today that the rural municipality has achieved full electrification.

On the occasion, the NEA Executive Director also distributed the free-of-cost electricity metres to the people of the local Chepang community.

NEA has spent Rs 150 million in the current fiscal year alone for electrification in seven wards of Ichhakamana rural municipality.

Ghising said that NEA has been carrying out works on full electrification of the country through the budget provided to it by the government, the NEA’s earnings and taking concessional loans from international financial institutions.

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