- Monday, 18 November 2024
Kathmandu, May 12: Most of economic indicators based on the nine months data ending mid-April are positive in the country.
Till mid-May of the current fiscal year, the CPI-based Inflation remained within the expectations while a balance of payment remained at a surplus and the foreign exchange reserves increased.
According to the report about the Current Macroeconomic and Financial Situation of Nepal issued by the Nepal Rastra Bank (NRB) today, CPI-based Inflation remained 4.61 percent on y-o-y basis compared to 7.76 percent in the corresponding period last year.
Food and beverage category inflation stood at 5.21 percent whereas non-food and service category inflation stood at 4.14 percent in the review month.
Under the Food and Beverage Category, y-o-y price index of spices sub-category increased 22.64 percent, vegetable 16.99 percent, pulses and legumes 10.94 percent, cereal grains and their products 7.59 percent and non-alcoholic drinks 6.06 percent in the review month. The y-o-y price index of ghee and oil subcategory decreased 10.10 percent in the review month.
Under the Non-Food and Services Category, y-o-y price index of miscellaneous goods and services sub-category increased 12.81 percent, recreation and culture 12.61 percent and education 7.31.
The y-o-y price index of transportation sub-category decreased 0.33 percent in the review month.
The y-o-y consumer price inflation in the Kathmandu Valley, Terai, Hill and Mountain region stood at 4.06 percent, 4.58 percent, 5.33 percent and 4.32 percent respectively in the review month. Such inflation in these regions was 8.57 percent, 7.68 percent, 7.01 percent and 7.47 percent respectively a year ago.
Remittance inflow up
Remittance inflows increased 19.8 percent to Rs.1082.62 billion in the review period compared to an increase of 24.2 percent in the same period of the previous year. In the US Dollar terms, remittance inflows increased 17.7 percent to 8.15 billion in the review period compared to an increase of 13.9 percent in the same period of the previous year.
In the review period, the number of Nepali workers, both institutional and individual, taking first time approval for foreign employment recorded 329,422 and taking approval for renew entry recorded 212,721. In the previous year, such numbers were 387,839 and 217,959 respectively.
The current account remained at a surplus of Rs.179.48 billion in the review period against a deficit of Rs.60.43 billion in the same period of the previous year. In the US Dollar terms, the current account registered a surplus of 1.35 billion in the review period against a deficit of 468.3 million in the same period last year.
In the review period, capital transfer decreased 19.2 percent to Rs.4.78 billion and net foreign direct investment (FDI) remained a positive of Rs.6.48 billion. In the same period of the previous year, capital transfer amounted to Rs.5.91 billion and net FDI amounted to Rs.2.62 billion.
BOP in surplus
Balance of Payments (BOP) remained at a surplus of Rs.365.16 billion in the review period against a surplus of Rs.174.28 billion in the same period of the previous year. In the US Dollar terms, the BOP remained at a surplus of 2.75 billion in the review period against a surplus of 1.32 billion in the same period of the previous year.
Gross foreign exchange reserves increased 24.2 percent to Rs.1911.86 billion in mid-April 2024 from Rs.1539.36 billion in mid-July 2023. In the US dollar terms, the gross foreign exchange reserves increased 22.7 percent to 14.36 billion in mid-April 2024 from 11.71 billion in mid-July 2023.
Of the total foreign exchange reserves, reserves held by NRB increased 25.4 percent to Rs.1688.21 billion in mid-April 2024 from Rs.1345.78 billion in mid-July 2023. Reserves held by banks and financial institutions (except NRB) increased 15.5 percent to Rs.223.65 billion in mid-April 2024 from Rs.193.59 billion in mid-July 2023.
The share of Indian currency in total reserves stood at 21.6 percent in mid-April 2024.
Based on the imports of nine months of 2023/24, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 15 months, and merchandise and services imports of 12.5 months. The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 33.5 percent, 104 percent and 28.9 percent respectively in mid-April 2024. Such ratios were 28.8 percent, 83.0 percent and 25.0 percent respectively in mid-July 2023.
Government expenditure reaches over Rs 909 billion, revenue collection at Rs 748 billion
The government’s expenditure amounted to Rs.909.39 billion and revenue collection Rs.748.04 billion
Compared to the growth of 18.7 percent in the last fiscal year, government expenditure decreased by 3.6 percent in the review period. The recurrent expenditure, capital expenditure and financial expenditure amounted to Rs.644.03 billion, Rs.97.38 billion and Rs.167.99 billion respectively in the review period. 31. In the review period, total revenue mobilization of Nepal Government (including the amount to be transferred to provincial and local governments) stood at Rs.748.04 billion.
Revenue mobilization recorded a growth of 9.4 percent in the review period in contrast to a decrease of 13.4 percent in the same period of last fiscal year. The tax revenue amounted Rs.671.12 billion and non tax revenue Rs.76.93 billion in the review period
Broad money (M2) increased 7.5 percent in the review period compared to an increase of 6.4 percent in the corresponding period of the previous year. On y-o-y basis, M2 expanded 12.3 percent in mid-April 2024. 35. The net foreign assets (NFA, after adjusting foreign exchange valuation gain/loss) increased Rs.365.16 billion (25.1 percent) in the review period compared to an increase of Rs.174.28 billion (15.1 percent) in the corresponding period of the previous year. 36. Reserve money increased 6.4 percent in the review period compared to an increment of 2.5 percent in the corresponding period of the previous year. On y-o-y basis, reserve money increased 14.6 percent in mid-April 2024.
Total trade deficit decreased 2.8 percent to Rs.1053.42 billion during the review period. Such a deficit had decreased 17.1 percent in the corresponding period of the previous year. The export-import ratio remained at 9.8 percent in the review period same as in the corresponding period of the previous year.
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08- President approves economic expert Nepal’s resignation
Kathmandu, May 12: President Ramchandra Paudel has approved the resignation of economic expert Dr Chiranjeevi Nepal.
Issuing a press note today, spokesperson at the Office of the President, Shailaja Regmi Bhattarai mentioned that the President has accepted the resignation tendered by his economic expert Nepal.
President Paudel thanked Nepal for his service during his tenure.
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09- Education Minister appeals for reusing textbooks
Kathmandu, May 12: Minister for Education, Science and Technology Sumana Shrestha has urged all to pay attention to the possibility of reusing school textbooks.
The Education Minister said that the government has been allocating funds for free textbooks every year, but if the books can be reused, the money spent on production and distribution can be saved and used for scholarships.
According to the Minister’s secretariat, a programme has been set for the Minister to visit the classrooms of some public schools and explain about the reuse of books.
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10- PM Dahal and NC president Deuba hold meeting
Kathmandu, May 12: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ and president of the main opposition party, Nepali Congress (NC), Sher Bahadur Deuba have held a meeting today.
In the meeting took place at the Prime Minister’s residence in Baluwatar this morning, the two leaders discussed on contemporary topics, including running the Parliament meeting, said the NC Chief Whip Ramesh Lekhak, who was present in the meeting.
On the occasion, the NC leaders had informed the Prime Minister about their issues, including formation of a parliamentary committee for conducting an impartial investigation in connection with the misappropriation of the cooperatives’ funds.
Lekhak said that the Prime Minister was positive on the NC’s demand. He added that the NC’s parliamentary party meeting scheduled for Monday will discuss and take a decision on this matter.
The main opposition party has been calling for the formation of a parliamentary committee for carrying out a fair investigation, saying the involvement of Deputy Prime Minister and Home Minister Rabi Lamichhane has been seen in the misappropriation of the cooperative’s amount.
The government has decided to present its policies and programmes for the next fiscal year in the joint sitting of Parliament on May 14.
PM Dahal held discussions with NC leaders including party president Deuba today in connecting with ending the House obstructions before the presentation of the government’s policies and programmes.
The main opposition party has been obstructing the parliament’s business, calling for the formation of the parliamentary investigation committee to look into the misappropriation of cooperatives’ amounts.
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11- Petrol bomb hurled at school bus in Chitwan
Chitwan, May 12: A bus that was on its way to collect school children came under petrol bomb attack on the Dadrahani Bridge at Bharatpur Metropolitan City-20 this morning, police said.
Spokesman for the District Police Office Chitwan, Deputy Superintendent Bhesh Raj Rijal said some unknown assailants who came in a group of six threw petrol bomb on the bus (Bagamati Province 06001 Ka 0045) this morning.
They ordered the driver and his helper to disembark before hurling the Molotov cocktail on the bus. The bus caught fire due to this and was completely burnt.
“Police have initiated investigation into the incident and who threw the petrol bomb and their motive would be known only after this,” DSP Rijal said.
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12- PM Dahal vows to address gaps in nursing services
Kathmandu, May 12: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has pledged to make efforts to establish uniformity in facilities for nurses.
In his address to the 14th National Nursing Conference here today, the Prime Minister admitted that facilities for nurses are not satisfactory and uniform.
This gap should be addressed and a minimum wages for them be guaranteed, according to the Prime Minister.
The Prime Minister promised to make provision in the policy-level to provide fair job opportunities for nurses within the country.
Stating that the Nepal’s latest achievements in health care facilities are significant, he said in Nepal nursing has been one of the attractive service sectors, suggesting its promising future.
As he said, the government has realised that an implementation of advanced policies, plans and programees is needed in the nursing sector for its proper management and development as per the need of time.
He said the government is well aware of an increased workload on nurses due to an imbalance ratio between the service quota and an influx of patients, the Prime Minister expressed his hope that the situation would be addressed in the days to come.
Prime Minister Dahal was of the view of ending the situation forcing technical forces in the nursing service to work as interns for long and depriving nurses of even minimum remunerations. He advocated for coming with incentive for nurses working in the rural and far-flung areas. The head of the government also pledged to address the discriminations the work force and low payment issues facing nursing through policy-level interventions.
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13- Battisputali murder: all four accused juveniles
Kathmandu, May 12: All four arrested for their alleged involvement in the murder of a person last night in Battisputali are said to be minors.
According to the District Police Range Kathmandu’s Spokesperson, Deputy Superintendent of Police Nawaraj Adhikari, one Shambhu Dhimal, 24, from Morang, was killed in a scuffle between two gangs at Kumari Tole of Battisputali in Kathmandu metropolis-9.
The four accused in the case have been apprehended and the preliminary investigations suggest they all are juveniles. Their identities have not been revealed.
DSP Adhikari said an argument started when Dhimal and one of the accused bumped while walking at night, resulting into a scuffle and then to one person’s death. The gang assaulted Dhimal with a knife and though he was rescued and rushed to the Sinamangal based Kathmandu Medical College, he was pronounced dead on arrival.
Dhimal’s friend Manish Chaudhary, 23, has been injured in the incident. The body has been kept in Tribhuvan University Teaching Hospital for post-mortem examination.
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14- Economy will not improve until political system changes: Former PM Dr Bhattarai
Triveni (Nawalparasi), May 12: Former Prime Minister and coordinator of Nepal Samajbadi Party Dr. Baburam Bhattarai has said that a stable political system is necessary to improve the economy in the country.
In an interaction held today at Kawasoti in Nawalpur, Nawalparasi (Bardghat Susta East), Dr. Bhattarai called for political stability and a change in the political structure to improve the economy.
“To improve the state of the economy, serious reforms are required. For that, it cannot be done without serious intervention in the political sphere. As long as the current unstable political system remains, political stability and appropriate political leadership will not develop. Therefore, it is necessary to change the political structure for the development of the country,” he said.
According to him, in the current system, the government changes in six months and there is no priority for development, so change the political system by creating a directly elected president, a directly elected chief minister and a proportional parliament.
“The government has changed in six months. It has not been able to work even on primary issues. Therefore, reform is necessary to have a directly elected presidential system and a chief minister, a full proportional parliament,” Dr. Bhattarai suggested.
Similarly, he stressed on the need to create a People’s Lokpal who is made accountable to the Parliament for corruption control.
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15- President and PM meet
Kathmandu, May 12: President Ramchandra Paudel and Prime Minister Pushpa Kamal Dahal ‘Prachanda’ had a meeting today.
The meeting between the Head of State and the Head of Government was held at the Rastrapati Bhawan, Shital Niwas this afternoon.
Discussions were held on the contemporary topics of the country during the meeting, said the President’s private secretariat.
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17- Federal Affairs Minister calls for unity among all sides for securing political stability
Kavrepalanchok, May 12: Minister for Federal Affairs and General Administration, Bhanubhakta Joshi, has underscored on unity and cooperation among all sides for securing political stability.
He said so while addressing to the ‘office-level quarterly review and interaction on federal, provincial and local-level service delivery and development projects’ organized by the District Coordination Committee Kavrepalanchok in Dhulikhel today. Minister Joshi urged all sides to unite so as to achieve political stability.
“Let us not be divided as ruling side and opposition side for political stability. Time has come for all sides to be united for political stability. Removing the doubts among the citizens by providing political stability is a matter of challenge to all sides and let us all sides become united for the same,” he said, adding that political stability gives continuity to sustainable development and innovation. Both the ruling and opposition sides have equal responsibility for building a prosperous and beautiful country, Minister Joshi opined.
The Federal Affairs and General Administration Minister asserted that it is the patriotic employees who provide good governance to the citizens. “It is the responsibility of the employees to provide good governance in a way the people feel it. Work towards dissipating the narrative in the public sphere that ‘it is the employees who are to blame for the mismanagement’, reviewing how the services could be improved,” he said.
According to him, all the issues pertaining to the employees would be solved with the implementation of the Federal Civil Service Act.
He also expressed regrets over not being able to initiate new works in 104 local levels as the Rs 880 million that was demanded for implementing the innovation programme at these levels was not released.
He stressed on the need of resolving the difficulties seen in the constitution implementation with all sides working together.
Mayor of Banepa Municipality, Shanti Ratna Shakya, Panauti Municipality mayor Ram Sharan Bhandari, Mandandeupur Municipality mayor Tok Bahadur Waiba, Namobuddha Municipality mayor Kunsang Lama, Mahabharat rural municipality chairman Kanchha Lal Jimba and the District Coordination Committee deputy-chief Rim Bahadur Tamang said the local level people’s representatives and employees should be conscious of good governance.
On the occasion, Humkala Pandey, Secretary at the Bagmati Province Office of the Chief Minister and Council of Ministers, Chief District Officer of Kavrepalanchok, Rudra Devi Sharma, Federation of Nepali Journalists (FNJ) district president Badri Raj Timilsina, among the speakers suggested on paying attention to making the service delivery at local level prompt and efficient.
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18- Kathmandu Valley’s pollution decreases
Kathmandu, May 12: Air pollution in the Kathmandu Valley has decreased with the occurrence of rainfall.
On May 2, the federal capital was listed the world’s most polluted city with an Air Quality Index of 162. Today, it suggests a rapid drop in the pollution level to be ranked at 50th position. According to the Air Quality Index (AQI) data, the Kathmandu Valley’s AQI has been measured at 56.
The containment of wildfires with the rainfall for the past few days has played a significant role in the improvement of the air quality. Air pollutants have been minimized with the favorable situation, said wildfire expert Sundar Sharma.
An AQI of 0-50 is considered good for public health and it is indicated by a green signal while AQI of 51-100 is moderate and marked by yellow, but it still warns us to be careful.
It is unhealthy specifically for sensitive groups such as those who have respiratory and cardiac issues if the AQI reaches 101-150 and is highlighted by orange.
Similarly, an AQI of 151-200 is indicated by red to suggest that it is unhealthy for all, 201-300 is highlighted by purple and it is very unhealthy. An AQi of 301-400 is hazardous and that of 401-500 is highly hazardous to health and is denoted by maroon, according to disaster management expert Dr Dharmaraj Uprety.
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19- High-level committee in offing for management of TU’s land: Minister Shrestha
Kathmandu, May 12: Minister for Education, Science and Technology, Sumana Shrestha, has said preparations are on for establishing a high-level committee for the management of land owned by Tribhuvan University (TU).
In a meeting of the House of Representatives, the Education, Health and Information Technology Committee today, the Minister said this.
“It seems herculean to inquire about the entire land remaining in the name of University due to time constraint. So we are working on a three-month proposal to carry out a sampling study,” the Minister said.
She also shared about the discussions held with student unions to implement the TU’s academic calendar effectively. She asserted that TU administration, employees’ and students’ unions should have a common understanding and willingness to enforce the calendar effectively.
Highlighting about the political interference and protests from employees union even in the transfer of one employee, she said the issues about repeated padlocking at TU should be sought through the talks with the top political leadership.
The Minister called for depoliticizing the University.
She also pledged to seek a diplomatic ways to address issues in the Bangladesh scholarship scheme as this is also concerned with the bilateral relations between the two countries.
According to the Minister, a process is underway to appointment TU service members.
Secretary at the Education Ministry, Dr Deepak Kafle, promised to do the best to address problems affecting the education sector.
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20- Lawmakers stress on preserving TU’s properties
Kathmandu, May 12: Lawmakers have underscored on preserving the properties of Tribhuvan University (TU).
Speaking in the discussions related to the Ministry of Education, Science and Technology in the meeting of the House of Representatives, the Education, Health and Information Technology Committee today, they stressed on the need of proper upkeep and management of the properties of the country’s oldest university.
Most of the lawmakers expressed their dismay, saying that the TU’s properties have not been properly preserved and managed, and in some instances they are being misused. They called on the university itself to be responsible for protecting and preserving its properties. The MPs called on the university authorities to also take steps for improving the quality of education and the academic environment of the university. They pointed out the need of reform in the university’s examination system as well.
Lawmakers voicing these issues in the discussions include Badri Pandey, Gyanu Basnet Subedi, Biddya Bhattarai, Devendra Paudel and Toshima Karki.
Committee president Ammar Bahadur Thapa urged the TU to be clear whether the selection of students going for higher studies in Bangladesh on scholarship is according to the agreement between the two countries. He raised question over TU not conducting exams on schedule and the answer scripts going missing in some instances.
TU VC Baral commits to implement academic calendar
Tribhuvan University Vice-Chancellor Prof Dr Keshar Jung Baral has expressed his commitment to improve the university’s academic calendar and accomplish its effective implementation.
Speaking in the meeting of the parliamentary committee (Education, Health and Information Technology Committee) under the House of Representatives here today, VC Baral assured to endorse academic calendar and its effective implementations for timely completion of academic session and publish results.
He said that the lack of effective implementation of the curriculum and the failure to publish exam results on time, has created negative impacts towards the university among students, parents and the general public.
He opined that there should be no political interference in the university but Vice-Chancellor receives various threats at different times through political forces. He said, “This is a big university of the country, it has affiliated colleges in 77 districts, so in order to improve the university, we have to ‘reform its structure.”
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21- Relocation of valley industries essential for better urbanization: Minister Bhandari
Kathmandu, May 12: Minister for Industry, Commerce and Supply, Damodar Bhandari, has opined that relocation of Kathmandu valley industries would contribute to better urbanization.
Minister Bhandari said it while receiving a memorandum from the Grill and Steel Entrepreneurs’ Federation Nepal in the ministry on Sunday. “In the developed countries, industries are located away from urban area; we can also mull separate safe places for industries,” he reiterated.
He however said it is government’s duty to create necessary infrastructures for industries. The Minister also vowed to address most of the demands of the Federation. Minister Bhandari suggested the Federation that it adopted new technology as per time need.
According to him, we can not compete in the global market with continuous reliance of import of raw materials. The foreign items must be replaced, he suggested. A delegation led by Federation Chairman Thulo Babu Shrestha met the Minister and demanded him that he took initiatives to up custom tariff on import of the products which Nepal itself produces in the country.
The Minister assured the delegation that he would coordinate with Finance Ministry to address the genuine demands. He also pledged ministry support for adoption of new technology in the grill industries. The Federation put forth seven demands, including creation of atmosphere conducive for it.
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22- Spring ascent: Kami Rita atop Sagarmatha for 29th times
Kathmandu, May 12: Kami Rita Sherpa has set a new record in the ascents of the world’s highest peak, the Sagarmatha (Mt Everest), by reaching atop the peak for the 29th times on Sunday.
The Sherpa climber broke his own record to set a new one in the spring expedition of the 8,848.86 metres high mountain. The 54-year-old record-holder originally hails from Thame village of Khumbu Pasang Lhamu rural municipality in Solukhumbu district.
Rakesh Gurung, Director at the Adventure Tourism and Mountaineering Section under the Department of Tourism, confirmed that Kami Rita Sherpa scaled the highest mountain for the record 29th times on Sunday morning.
Kami Rita, who first climbed the Everest on May 13 in 1994, also holds the record of most ascents of the peaks above 8,000 metres. He is the only mountaineer bagging the record of highest number of ascents of Mt Everest since Tenzing Norgay and Edmund Hillary first set their feet atop the Everest on May 29, 1953.
Trailing in the record setting spree in Everest climb is Dawa Sherpa of Solukhumbu district who scaled the Everest for the 27th times last spring.
Director Gurung shared that over 70 climbers had the footfall on the world’s tallest natural tower since the spring expedition commenced this year. Ten Sherpa members of the rope fixing team ascended the Everest last Friday night, opening the route to peak for altogether 414 adventurers obtaining permit to climb the Everest in this season.
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23- NNA demands increase in nursing quota
Kathmandu, May 12: Chairperson of Nepal Nursing Association (NNA), Prof Man Kumari Rai, has demanded the government that it increased nursing quota.
During a programme organized to mark the 14th national convention of NNA and the International Nursing Day here Sunday, Chairperson Rai informed that number of nurses was inadequate as compared to patients’ flow. “If government increases nursing quota, it creates employment and ensures quality service to the patients,” she reminded.
Rai also expressed worry over meagre facilities to which government needs to pay heed. On the occasion, Hira Kumari Niraula, Director at Nursing and Social Security Division under the Department of Health, underlined the need for augmenting investment in nursing in Nepal. “Nursing schemes have been expanded eg in schools, which needs more number of such caregivers. This scheme has been proved beneficial for school children’s physical and mental health,” she reminded.
Similarly, Assistant Dean (administration) at Institute of Medicine, TU, Prof Takma KC, argued investment in nurse will boost country’s economy. “Education, training, employment and facilities are the areas that warrant government’s proper attention,” added. Nepal Medical Association’s Chairman Dr Anil Bikram Karki expressed worry why future of health workers was not secure although many health and medical workers were produced every year within the country.
“It is appalling that the skilled workforces produced in the country are forced to think of abroad job and run from one place to another for visa applications immediately after completing necessary education here. Health and medical workers are such workforces which do not even get leave on Workers’ Day,” he said, questioning the government why it was delaying creation of further quotas for nurses. According to NNA, there are 82,471 nurses in Nepal now. Among them, 1,507 are specialist nurses. The government sector has employed 18,000 nurses while private sector also employs in similar number.
Sizable number of nurse- 20,000 are jobless.
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24- Security printing press scam: CIAA files corruption case
Kathmandu, May 12: The Commission for the Investigation of Abuse of Authority (CIAA) has registered another charge-sheet against the erstwhile executive director and other then employees of the Security Printing Centre on the charges of corruption.
The anti-graft body on Sunday filed another case against erstwhile director Bikal Poudel and erstwhile director Safal Shrestha and employee at the Ministry of Forest and Environment Navin Kumar Pokharel for their alleged involvement in misappropriation in procurement of security printing press related machinery items.
The CIAA claimed that they intended to incur a loss to the government and made the procurement for the security printing press embezzling the fund worth over Rs 470 million, according to CIAA Spokesperson Narahari Ghimire
The CIAA demanded additional punishment to the alleged ones proportionate to the amount to be recovered from them. Similarly, equal amount of recovery has been sought from then accountant of the Centre, Khadga Bahadur Thapa, and then section officer, Hari Ballav Ghimire, added the Spokesperson.
The CIAA has lodged a case against another alleged Akbar Husain, CEO of Max International, claiming an equal amount of money in compensation.
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25- Parliamentary impasse ends by Tuesday: PM Dahal
Chitwan, May 12: Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has expressed belief that the deadlock in parliament would cease by Tuesday.
“I’m in close consultation with top leaders of major opposition Nepali Congress on how the deadlock could be cleared. So, I hope the impasse will end by Monday evening or Tuesday morning,” PM Dahal shared.
Talking to media persons here Sunday, PM Dahal informed that he had a meeting with President Ram Chandra Paudel after giving a final touch to the policy and programmes. “President Paudel is scheduled to address the joint sitting of the federal parliaments on May 14. Preparation for it is over,” Dahal shared.
The PM further viewed as the policies and programmes were already given a final shape, there would not be any problem on President’s address in the parliament. “I do not think the NC, a veteran political party advocating for parliament, would not create discomfort during the address,” he believed.
On a different note, he said even the Home Minister had agreed in principle to form a committee to address the problems facing cooperatives victims. In response to journalists’ query relating to GB Rai, who is accused of misappropriating cooperatives’ funds, PM Dahal said it was illogical to say that erstwhile government helped him flee the country. “Government is clear on bringing GB Rai back to the country for investigation. There are however passport related issues,” he said, arguing, “There is no point in saying the erstwhile government and home minister helped Rai flee the country.”
In a different note, he reminded that the previous alliance was broken after the efforts to share major posts to major political parties including the Presidential post to NC were not realized. “There is no basis for NC to think of negative to me and so is for me to NC,” Dahal stressed.
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26- Govt informs Speaker about ongoing preparations on upcoming FY’s policy, programme
Kathmandu, May 12: The government has informed the Speaker, Devraj Ghimire, and major political parties’ chief whips in parliament about the upcoming fiscal year’s policy and programme.
At a meeting convened on Sunday by Speaker Ghimire and attended by chief whips of major political parties, Minister for Law, Justice and Parliamentary Affairs Padam Giri shared the issues of upcoming fiscal year’s policy and programme.
After the meeting, Minister Giri said that he informed the Speaker and chief whips of the major political parties about the government’s policy and programme to be unveiled in parliament on May 14 and added that the Nepali Congress should cooperate with the government in this issue.
According to Minister Giri, Speaker Ghimire urged the main opposition and other political parties to move ahead on the basis of consensus on advancing the presentation of the government’s policy and programme.
Minister Giri argued that obstructing the House business from the main opposition party seems inappropriate and asked the NC to present itself in a more responsible manner. Likewise, chief whip of NC Ramesh Lekhak stated that he reiterated the issue of parliamentary probe committee to investigate the accusations on cooperative scams.
“The government is not ensuring justice to the opponent by creating situation for the obstruction of parliamentary business,” Lekhak added. He argued that parliament was the right platform to raise the issue of alleged misappropriations of cooperatives’ funds.
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27- ISPs directed to pay royalty revenue, RTDF
Kathmandu, May 12: All eight writ petitions filed by the internet service providing company Worldlink Communications against the government have been scrapped by the Supreme Court (SC) on Sunday.
A division bench of Justices Hari Prasad Phuyal and Dr Nahakul Subedi refused the Worldlink’s claim by scrapping the petitions. With the SC’s move, the government now can collect royalty revenue and Rural Telecommunications Development Fees (RTDF) from the Worldlink Communications.
Likewise, billions of rupees is likely to be added to the state coffers after the SC verdict. Since the fiscal year 2072/073 BS, the Office of the Auditor General had pointed out that the government to collect the royalty revenue from the internet service providers (ISPs) as such money was not received to the state coffer.
From a research study of the Ministry of Communications and Information Technology carried out last year, the ISPs including the Worldlink Communications were found to have evaded the tax. The Ministry had formed a study team led by Joint Secretary Gaurav Giri to probe into the tax evasion from the ISPs.
As pointed out by the study team, nine ISPs have to pay Rs 3.64 billion in royalty revenue and Rural Telecommunications Development Fees to the government. Under the headings, the Worldlink Communications has to pay Rs 1.96 billion.
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28- Finance Minister says tax rate will not be changed arbitrarily
Kathmandu, May 12: Finance Minister Barshaman Pun has said there will not be change in the tax rate arbitrarily in the upcoming fiscal year’s budget.
At a pre-budget discussion here Sunday, Minister Pun said economy should be made vibrant by ending economic slowdown and added that the tax rate will be changed considering the national interests, not to serve other’s interests.
He stated that the tax rate will not be changed to serve the near ones and the business firms that are close to his party and the government. The tax rate, if changed, will be done along with the rationale behind it, according to Minister Pun. He was of the view that a finance minister’s move should not ruin the investments made by the private sector for years and said, “(the finance minister) should discharge the duty given by the people and state obediently”.
Likewise, Minister Pun added that the government was clear for prompting open and transparent business policy since Nepal is practising democratic, open and competitive governance system. Similarly, Minister Pun mentioned that the government was expecting the private sector to take on board the journey of development and prosperity.
He pledged to end the legal and policy gaps and embrace the best practices on the agendas of economic development. Saying that he was informed about slowdown of the construction sector, Minister Pun assured that the government was working to unlock the bottlenecks that caused slowdown in this sector.
Likewise, the Finance Minister shared that the present government was in the situation to shoulder the liability of around Rs 600 billion from the last three or four years.
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29- Time for women’s participation in economic sector: Vice President Yadav
Kathmandu, May 12: Vice President Ramsahay Prasad Yadav has said women’s empowerment could be ensured through their participation in economic sector. Their empowerment further contributes to a realization of sustainable development goals, he added.
The Vice President said it while addressing the ‘South Asian Women Conference in Economic Empowerment’ organized in Lalitpur on Sunday. Women’s empowerment is linked to economic productivity and gender equality, he underlined.
In the wake of rapid development in information technology, women’s empowerment could be facilitated through digital transformation. Despite economic growth and rising educational status in south Asia, it is worrying that women are still deprived of economic opportunities, he reminded.
Yadav further viewed it was appreciative that Nepali politics made a stride in women empowerment, but gender equality, women entrepreneurship and their access to financial resources warrant attention.
The Vice President wished the conference inspired the women in south Asia to work in unison for the sake of women empowerment via economic activities. The event will be a credible platform to foster partnership and networking among women entrepreneurs that finally contributes to region’s production and trades, he hoped.
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