First Carbon Fund payment to Nepal
Gorkhapatra, 7-Jan-08
The World Bank Community Development Carbon Fund issued its first payment of US$ 514,786 Monday for carbon emission reductions in Nepal.
The Alternative Energy Promotion Centre (APEC) received its payment for its first delivery of verified Emission Reductions to the Community Development Carbon Fund (CDCF) under the Clean Development Mechanism (CDM) that was created under the Kyoto protocol.
According to a press statement issued by World Bank, an Emission Reductions (ER) purchase agreement was signed by the community development carbon fund managed by the World Bank and the AEPC in May 2006 for sale of one million tons of Carbon ER. ?This payment represents the first of several annual payments based upon the actual verified delivery of Emissions Reductions" the press statement stated.
The Nepal Biogas Project, part of the Biogas Support Programme (BSP) is Nepal's first CDM project that developed ER household units that is known to reduce almost five tons of carbon dioxide annually.
BSP initially received funds from the German Development Bank and the government of Nepal through APEC and it promotes the use of biogas by expanding its use for cooking and lighting in rural households.
"We will be working to further develop and disseminate biogas as a mainstream renewable energy solution in Nepal," said Saroj Rai, executive director of BSP-Nepal.
According to World Bank the payment was made for the bio gas support programme-Nepal activity-1 as per the costs deduced by Emission Reduction Purchase Agreement (ERPA).
"As we see by this payment, carbon finance can produce direct financial rewards while supporting sustainable development at the same time since this project produces significant local benefits to the rural people of Nepal through modern provisions for clean biogas," said Jeremy Levin, task team leader for World Bank.
Tuesday, January 08, 2008
Employees Provident Fund (EPF) set to invest Rs 12b in Upper Tamakoshi
Employees Provident Fund (EPF) set to invest Rs 12b in Upper Tamakoshi
eKantipur.com, 7-Jan-08
BY BIKASH SANGRAULA
The Employees Provident Fund (EPF) on Monday decided to invest Rs 12 billion in the 309-megawatt (MW) Upper Tamakoshi hydroelectric project. A board meeting of the EPF took the decision Monday morning, said EPF General Manager Shahi Bikram Rana.
"We have sent out the green signal," said Rana after the meeting. "We are willing to extend Rs 10 billion in loan and invest a further Rs 2 billion in equity through purchase of debentures convertible later into shares."
EPF fowarded the decision, along with its conditions, to Nepal Electricity Authority (NEA) Monday afternoon. The NEA board will now have to take a decision in this regard, after which a memorandum of understanding (MoU) would be signed.
Conditions
The EPF has set nearly a dozen conditions for the investment. The major conditions are that a majority of shares of the project should remain with NEA; Upper Tamakoshi project as well as other NEA property be set up as collateral for the loan; shares reserved for locals of Dolakha district where the project is to be constructed; and there be comprehensive insurance for the investment.
"NEA board will take a decision on this as soon as possible," said Arjun Kumar Karki, NEA managing director.
"After signing the MoU with them, we will expedite negotiations with bankers, Rastriya Beema Sansthan and Citizens' Investment Fund," said Karki.
The project's total estimated cost is Rs 27 billion.
NEA has conducted preliminary dialogues to rope in Rs 5 billion in loan from banks, Rs 2 billion from the Rastriya Beema Sansthan and Rs 1 billion from the Citizens' Investment Fund.
The remaining Rs 9 billion will be equity, of which Rs 4.5 billion will come from NEA and the government of Nepal. Of the remaining Rs 4.5 billion, EPF has agreed on equity participation of Rs 2 billion, while the rest will come from local shareholders, Karki said.
The project
Upper Tamakoshi project site is located in the northern part of Dolakha district. The run-of-river project has natural dams, making the project the cheapest in the country in terms of per unit production cost of electricity.
Also, the project's location in central Nepal will help ease the power generation imbalance in a country where almost all projects are located in the western parts.
NEA, which holds the license for the project, plans to complete construction of the project by 2012/13 for selling power entirely in Nepal, according to NEA deputy managing director Uttar Kumar Shrestha.
eKantipur.com, 7-Jan-08
BY BIKASH SANGRAULA
The Employees Provident Fund (EPF) on Monday decided to invest Rs 12 billion in the 309-megawatt (MW) Upper Tamakoshi hydroelectric project. A board meeting of the EPF took the decision Monday morning, said EPF General Manager Shahi Bikram Rana.
"We have sent out the green signal," said Rana after the meeting. "We are willing to extend Rs 10 billion in loan and invest a further Rs 2 billion in equity through purchase of debentures convertible later into shares."
EPF fowarded the decision, along with its conditions, to Nepal Electricity Authority (NEA) Monday afternoon. The NEA board will now have to take a decision in this regard, after which a memorandum of understanding (MoU) would be signed.
Conditions
The EPF has set nearly a dozen conditions for the investment. The major conditions are that a majority of shares of the project should remain with NEA; Upper Tamakoshi project as well as other NEA property be set up as collateral for the loan; shares reserved for locals of Dolakha district where the project is to be constructed; and there be comprehensive insurance for the investment.
"NEA board will take a decision on this as soon as possible," said Arjun Kumar Karki, NEA managing director.
"After signing the MoU with them, we will expedite negotiations with bankers, Rastriya Beema Sansthan and Citizens' Investment Fund," said Karki.
The project's total estimated cost is Rs 27 billion.
NEA has conducted preliminary dialogues to rope in Rs 5 billion in loan from banks, Rs 2 billion from the Rastriya Beema Sansthan and Rs 1 billion from the Citizens' Investment Fund.
The remaining Rs 9 billion will be equity, of which Rs 4.5 billion will come from NEA and the government of Nepal. Of the remaining Rs 4.5 billion, EPF has agreed on equity participation of Rs 2 billion, while the rest will come from local shareholders, Karki said.
The project
Upper Tamakoshi project site is located in the northern part of Dolakha district. The run-of-river project has natural dams, making the project the cheapest in the country in terms of per unit production cost of electricity.
Also, the project's location in central Nepal will help ease the power generation imbalance in a country where almost all projects are located in the western parts.
NEA, which holds the license for the project, plans to complete construction of the project by 2012/13 for selling power entirely in Nepal, according to NEA deputy managing director Uttar Kumar Shrestha.
Monday, January 07, 2008
Nepal to host micro-finance world summit in February
Nepal to host micro-finance world summit in February
Xinhua, 5-Jan-08
Nepal is set to host a world summit on micro-finance next month as the country continues its long battle to expand and consolidate the service delivery institutions, The Himalayan Times reported on Saturday.
According to the daily, the three-day conference, the first of its kind and themed Reaching the Poorest of the Poor for Sustainable Income, kicks off in Kathmandu on February 14.
The summit is intended to facilitate a broad dialogue and create a common understanding among the stakeholders, including policymakers and politicians to make micro-finance a priority issue in the national development strategy, according to the organizers.
Some 300 participants -- policy makers, practitioners, rural development, micro-finance development and commercial banks, and cooperatives and representatives from non-governmental organizations from around the world are expected to attend the summit, organizers said.
The stakeholders will discuss their experiences and jointly decide on the future of micro-finance in Nepal, they said.
Nepal has over 3,600 micro-finance institutions providing services to roughly 2.29 million of the rural population -- which is 8.8 percent of the total population and 26.1 percent of those living below the poverty line.
Of them, little over 1.23 million are women, representing 9.73 of the country's total female population.
This means, according to experts, Nepal has an ambitious target of reaching out to close to 12 million or over 31 percent of the population living below and slightly above the poverty line.
Xinhua, 5-Jan-08
Nepal is set to host a world summit on micro-finance next month as the country continues its long battle to expand and consolidate the service delivery institutions, The Himalayan Times reported on Saturday.
According to the daily, the three-day conference, the first of its kind and themed Reaching the Poorest of the Poor for Sustainable Income, kicks off in Kathmandu on February 14.
The summit is intended to facilitate a broad dialogue and create a common understanding among the stakeholders, including policymakers and politicians to make micro-finance a priority issue in the national development strategy, according to the organizers.
Some 300 participants -- policy makers, practitioners, rural development, micro-finance development and commercial banks, and cooperatives and representatives from non-governmental organizations from around the world are expected to attend the summit, organizers said.
The stakeholders will discuss their experiences and jointly decide on the future of micro-finance in Nepal, they said.
Nepal has over 3,600 micro-finance institutions providing services to roughly 2.29 million of the rural population -- which is 8.8 percent of the total population and 26.1 percent of those living below the poverty line.
Of them, little over 1.23 million are women, representing 9.73 of the country's total female population.
This means, according to experts, Nepal has an ambitious target of reaching out to close to 12 million or over 31 percent of the population living below and slightly above the poverty line.
Factories bearing the brunt of load-shedding - Having to put up with a loss of over Rs 10 million every day
Factories bearing the brunt of load-shedding - Having to put up with a loss of over Rs 10 million every day
Himalayan Times, 5-Jan-08
Some five hundred factories in the Morang-Sunsari corridor area are facing a hard time after the Nepal Electric Authority imposed 13 hours of load-shedding a day.
According to the industrial organisations here, load-shedding has caused the factories to lose more than Rs 10 million a day.
The factories are having trouble after India reduced 50 MW supply of electricity from Kataiya Birpur of Bihar from Thursday.
Central member of Federation of Nepal Chamber of Commerce and Industries (FNCCI), Kishor Pradhan, has urged the NEA to make a detailed schedule of load-shedding to lessen the loss the factories are bearing now.
Load-shedding has hit dozens of jute mills, plastic factories, rolling mills and wire industries here, said manager of Swostic Jute Mill and central member of FNCCI, Champalal Rathi, adding that the main cause of the loss is that the load-shedding has been imposed irregularly. He said that the factories would be forced to gradually close down.
Deputy Director of Nepal Electricity Authority of Regional Directorate (NEARD), Tanka Prasad Shrestha, said the irregular supply has been caused by the shortage of electricity and NEA would soon make a schedule for the load- shedding.
The demand for electricity in the eastern region is 120 MW, while the electricity demand in the Sunsari-Morang corridor only is 40 MW. A total of 87 MW electricity has been supplied here from the hydro power of Multifuel Khola and Hydropower of Bansbari in India.
The factories are facing a hard time with only 33 MW supply of electricity now.
Himalayan Times, 5-Jan-08
Some five hundred factories in the Morang-Sunsari corridor area are facing a hard time after the Nepal Electric Authority imposed 13 hours of load-shedding a day.
According to the industrial organisations here, load-shedding has caused the factories to lose more than Rs 10 million a day.
The factories are having trouble after India reduced 50 MW supply of electricity from Kataiya Birpur of Bihar from Thursday.
Central member of Federation of Nepal Chamber of Commerce and Industries (FNCCI), Kishor Pradhan, has urged the NEA to make a detailed schedule of load-shedding to lessen the loss the factories are bearing now.
Load-shedding has hit dozens of jute mills, plastic factories, rolling mills and wire industries here, said manager of Swostic Jute Mill and central member of FNCCI, Champalal Rathi, adding that the main cause of the loss is that the load-shedding has been imposed irregularly. He said that the factories would be forced to gradually close down.
Deputy Director of Nepal Electricity Authority of Regional Directorate (NEARD), Tanka Prasad Shrestha, said the irregular supply has been caused by the shortage of electricity and NEA would soon make a schedule for the load- shedding.
The demand for electricity in the eastern region is 120 MW, while the electricity demand in the Sunsari-Morang corridor only is 40 MW. A total of 87 MW electricity has been supplied here from the hydro power of Multifuel Khola and Hydropower of Bansbari in India.
The factories are facing a hard time with only 33 MW supply of electricity now.
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
"Nepal needs more US assistance in reconstruction and rehabilitation" Dr Suresh Chalise
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
Telegraph Nepal, 7-Jan-08
The recently appointed Nepal’s Ambassador to the United States of America Dr Suresh Chalise arrived in Washington DC to execute his new assignment on November 2007. Prior to his appointment as the ambassador, Dr. Chalise worked as an advisor to the Prime Minister of Nepal on Foreign Affairs since May 06.
Originally from Rajbiraj, Nepal, Dr Chalise accomplished his Ph.D program in Political Sociology from Banaras Hindu University, India in 1990. He attended the Senior Executive Course at Asia Pacific Center for Security Studies, Hawaii USA ‘May 06. He has also worked as a consultant with such international organizations as NDI, DFID, FES, UNDP, SARI and WHO. As a writer, his works on socio-political issues are published in various national and international papers.
The Embassy of Nepal in Washington DC is concurrently accredited to Canada, Columbia and Mexico; hence, he’d be presenting his credentials to those countries soon. He’d be presenting his credentials to President George W Bush on Tuesday January 22, 2008. On Sunday December 30, 2007, Ambassador Chalise talked to the chief editor of Nepal Abroad(USA), Sujeet Arjel on several issues. Below the excerpts:
Question: You worked as an advisor to the Prime Minister of Nepal on Foreign Affairs. How challenging has it been for Nepal as a member of a global community to stride in the regional and international arena under present circumstances?
Dr. Chalise: In contemporary Nepal, while the society passes through an acute transition, it has really been a major challenge for us to strike a balance of course as a member of international community, in dealing with regional and global forces. As I have noticed, while working with the Prime Minister, the regional forces are more enamored for their sector related interests. However, on the part of the global powers, they seem interested to see Nepal as a democratic and an open society.
Perhaps, the latter believe that a democratic and open Nepal- which occupies strategic location in the global political arena; would also help encourage lubricating the process of globalization. Here it never means that regional actors are not for democracy in Nepal. They, indeed, are for democratic Nepal and, as you know, have also been the associates of the globalization process.
Regional and global forces have been engaged on the issue of Constituent Assembly elections, issues of inclusion, UNMIN’s role and degree of participation on the entire peace process. In such a thorny political situation, to make a swift momentum on country’s socio-economic and political realms has been a challenge for the government and its leadership.
How helpful has your recent experience been in taking the new assignment as an Ambassador in Washington DC?
Actually, apart from rendering advises, I also worked as a chain between the Prime Minister and the International community in Nepal.
In other words, my familiarity on external affairs as an advisor to the Prime Minister, at bottom, has helped me understanding the interest and areas of concern of the government of USA and areas of vital interest of my country. Being a Nepali- who had certain degree of experience on socioeconomic and political domains as a researcher, I have advantage of understanding Nepal’s fundamental interest in a better fashion than an outsider. Besides, I have had opportunities to develop personal relations with US officials, interact with high level personalities and delegations from the USA.
Therefore, in nut and shell, I should say ‘yes, my recent experience- has been crucial in taking up the new assignment of ambassador in Washington. It has, undeniably, been helpful to work for the mutual interests of USA and Nepal.’
The long absence of the Nepalese ambassador in DC has had many visible and perceived damages to Nepal and to the Nepal-US relations. How do you plan to normalize the whole thing(s)?
I only partly agree to your assumption, as there has widely been perceived that there has been damage or losses to our bilateral relations with USA due to absence of ambassador for a quite long time in the mission. Undeniably, absence of ambassador in a mission for long time certainly does not give a good message, but, ours is an unusual situation, which has been accepted by our international friends, including USA. In this respect, the role of instant information system, which Nepal also enjoys now, really helped to disseminate information to the global community. USA- like that of the other nations understands the difficulties through which Nepal has been passing. Actually, our bilateral relations have been excellent on all fronts.
Besides this, US must have taken the note of the fact that there was delay in appointing ambassador to her country due to a new yet sound process of taking the nation’s diplomats on, which is corresponding to the recruitment process in USA. In the history of Nepal, this is the first time that the sovereign parliament held dialogue- through parliamentary hearing committee, with the ambassadors nominated and ultimately endorsed the government’s decision. Such process, of course has been hedged with certain limitations, but ultimately encourages the transparency and accountability in appointing our diplomats globally.
Have you set any goals to achieve during your stay in Washington DC as an Ambassador?
Of course, every person, who comes here as an ambassador, has certain aims and objectives. Some goals are prescribed by the institution that he or she represents, but, some goals are being innovated by individual himself which are of course in consonance with the national objective of the country. And, I am not exception to this phenomenon. Broadly speaking, I have recognized three areas on which I should be focusing my attention. The first one is to make smoother the ongoing democratic peace process in our country, which is imperative for the establishment of democracy, heralding peace and beginning of real prosperity. For this purpose, I will be interested to see a caucus for Nepal in the Congress/Senate. I have information that some Congressman and Senators, who have love for Nepal and the Nepalese people, seem positive in this regard. If possible, I will also be working to set up a network of former volunteers of Peace Corps who served Nepal in the past.
I consider them as the major resource for further strengthening the US-Nepal relations, as they know Nepal and Nepali people and have better knowledge and experience of Nepalese resources. Such steps- if materialized would advocate the interest of Nepal.
I will work, at all levels, in order to encourage the high level bilateral visits. It would definitely help familiarize our problems and needs. In this connection, I would like to mention here my recent meeting with Assistant Secretary Richard Boucher. He, upon my revelation, was surprised that, the secretary of state, Colin Powell, was the only visited Nepal till the date.
In my meeting, Mr. Boucher was positive to increase the frequency of high level delegations to Nepal. Now, a high level team is scheduled to leave for our country- may be within a month. Apart from helping the peace process, I need to work for the economic prosperity of Nepal. As you also know that despite huge natural resources, Nepal suffers from poverty and hunger. In present Nepal, helping the economic process means contributing to the peace process.
Economic promotion in society shall help to lessen the deviant behavior of people in general. In order to achieve economic prosperity, I will try to find investors on mega Hydro-power generation, cement, and herbal medicine production. I have a plan to explore markets for our niche and other products to US markets.
Of course, we should be working to attract American tourists to Nepal, which has significantly enhanced in recent years in spite of red travel alert. And, for your information, in Nepal’s case, one tourist provides job opportunities at least to 3-4 persons. On top of these, as our society had been beset by conflict, we need assistance from donors-especially from the US government, in the areas of reconstruction of infrastructure and rehabilitation of conflict affected people. I would pay my attention on these areas as well.
The Prime Minister had instructed all nominated envoys to work on Economic Diplomacy as well during their tenure as an ambassador to the respective country. Didn’t that sound incongruous, considering the current situation in Nepal?
I hardly agree with your notion that there is incongruity in Prime Minister’s instruction to envoys for economic diplomacy and country’s situation. As I have already mentioned, in my answer to one of your questions, that the influx of the USA tourists in Nepal has gone up by more than 30 per cent in spite of travel alert from their government. Indian investors are showing their keen interest in the project related with cement production. We have tremendous potentiality to harness our herbal resource by producing medicine. Yes, country had been marred by bloody conflict for a decade. But, now, peace process has been going on. International community, including UN, has recognized that Nepal’s peace process has been one of the fastest in the world. The leadership and the government have also been quite confident to take the peace process to its logical conclusion. I also feel that we are very close to the success of the ongoing peace process. Therefore, it would not be contrary to the reality of the situation in Nepal if we talk to encourage economic diplomacy.
Another reason for encouraging the economic diplomacy by PM, as I understand, he thinks that economic diplomacy, which would bring economic prosperity to society, would also help peace process through reconstruction and rehabilitation. Do you know that hundreds of thousand people have been displaced due to conflict? They urgently need aid and assistance, which is possible only through economic advancement of society.
How would you make the Nepalese people and friends of Nepal in different states including Canada, feel the presence of the Nepalese Ambassador after a long gap?
I agree that absence of ambassador for a long time in US, Canada, or in Mexico or in Columbia, require the presence of the Nepal mission every where in order to boost up the confidence of Nepali community and friends of Nepal. For this purpose, I have devised a plan and have started working on it. With regard to the consular services, the mission has strict instruction to all concerned that the visa or passport renew related matters be completed within 24 hours of receiving of the application.
Likewise, I have begun traveling to various places on the invitation of Nepalese community. A week ago I was in Boston to participate in Loshar- a unique and popular cultural festival of Nepal. I am doing this, partly to boost the moral of my country people and partly to understand their problems, which could be addressed sooner or later. Besides, we face a very sad situation as well here in abroad. Just last Thursday, we were informed about the death of a young and luminous student studying in Ohio University. The embassy did what it could- as far as papers works were concerned. I had talks with the brother of the deceased, Professor of Ohio University and Insurance Company representatives. We have issued a condolence statement on her untimely death in a car accident. I know that sheer statement of embassy would not console and heal the irreparable damage being caused, but, it is just a gesture to all affected that the country’s institution or embassy has been with them emotionally on the cheerless point of time.
Int’l Job fair to be held from January 12 to 14
Int’l Job fair to be held from January 12 to 14
ArthaExpress.com, 6-Jan08
Here´s a good opportunity for aspirant job seekers. For the first time in Nepal, a three-day long international job extravaganza ´Convergys International Job Fair´ is being organised at Birendra International Convention Centre (BICC), New Baneshwor on January 12-14.
To be jointly organised by the High Level Committee of Information Technology (HLCIT), New Horizons Nepal and Timesjobs.com in association with Convergys, it boasts of offering more than 1000 jobs in reputed multinational companies. As Nepali labour market cannot absorb all unemployed youths, this fair will help reduce unemployment. However, good command over speaking English and +12 pass are the minimum criterion.
According to Sujit Acharya, CEO of New Horizons Nepal the event´s main aim is to create a channel through which international companies can employ the potential human resources from Nepal. "The job-offers at the fair will also help solve unemployment problem," he said adding that Nepal will get more remittance.
"The fair will also help interact multinational companies with local universities and find necessary man-power," said Saroj Devkota, vice-chairman of HLCIT. "These skilled manpower will fetch more remittance," he said adding that they will return as experienced lot.
The major participating companies in the fair include Fortune 500 companies like IBM and Fiserv, EXL Corporation and Convergys. "We support all such efforts to create employment as adverse situation had created more unemployment in Nepal," Manoj Goyal, CEO of Clean Energy Bank that is offering on the spot loan, said.
"Those who return after such exposure would help create more jobs back home," Jan Kerer, senior advisor of GTZ said. Besides GTZ, it has been endorsed by Labour Ministry, NRNs, FNCCI, SDC and Winrock.
ArthaExpress.com, 6-Jan08
Here´s a good opportunity for aspirant job seekers. For the first time in Nepal, a three-day long international job extravaganza ´Convergys International Job Fair´ is being organised at Birendra International Convention Centre (BICC), New Baneshwor on January 12-14.
To be jointly organised by the High Level Committee of Information Technology (HLCIT), New Horizons Nepal and Timesjobs.com in association with Convergys, it boasts of offering more than 1000 jobs in reputed multinational companies. As Nepali labour market cannot absorb all unemployed youths, this fair will help reduce unemployment. However, good command over speaking English and +12 pass are the minimum criterion.
According to Sujit Acharya, CEO of New Horizons Nepal the event´s main aim is to create a channel through which international companies can employ the potential human resources from Nepal. "The job-offers at the fair will also help solve unemployment problem," he said adding that Nepal will get more remittance.
"The fair will also help interact multinational companies with local universities and find necessary man-power," said Saroj Devkota, vice-chairman of HLCIT. "These skilled manpower will fetch more remittance," he said adding that they will return as experienced lot.
The major participating companies in the fair include Fortune 500 companies like IBM and Fiserv, EXL Corporation and Convergys. "We support all such efforts to create employment as adverse situation had created more unemployment in Nepal," Manoj Goyal, CEO of Clean Energy Bank that is offering on the spot loan, said.
"Those who return after such exposure would help create more jobs back home," Jan Kerer, senior advisor of GTZ said. Besides GTZ, it has been endorsed by Labour Ministry, NRNs, FNCCI, SDC and Winrock.
124 MW free energy sought from Arun III, Upper Karnali
124 MW free energy sought from Arun III, Upper Karnali
One project per developer
eKantipur.com, 6-Jan-08
The government is seeking a total of 124 megawatt (MW) of free energy from the 402 MW Arun III and 300 MW Upper Karnali projects, Minister for Water Resources Gyanendra Bahadur Karki said here on Sunday.
"A team that has been formed to negotiate the two projects with interested foreign companies will be tasked to seek 88 megawatts of free energy from Arun III and 36 megawatts from Upper Karnali, initiating negotiations with the companies in the order ranked by the taskforce led by Bhanu Prasad Acharya last year," Minister Karki said, briefing the press about last week's cabinet decision on the two projects.
This minimum free energy that companies will have to offer Nepal is based on the Cabinet's decision to prioritize free energy over all other criteria, as directed by the parliament's Natural Resources and Means Committee in July last year. The Cabinet decided to set the highest percentage of free power offered from each project as base requirement for awarding licenses.
Among nine proposals received for Arun III and 14 for Upper Karnali, Jindal Steel and Power has offered the highest percentage of free power from both the projects -- 21.9 percent (88 MW) from Arun III and 12 percent (36 MW) from Upper Karnali.
The taskforce led by Acharya last year rated GMR Energy Ltd, Satluj Jal Vidyut Nigam, Jindal Steel and Power, Reliance Energy Ltd, and Jay Prakash Associates, respectively, as companies with the five best proposals for Arun III, while the companies rated as having the five best proposals for Upper Karnali were GMR Energy Ltd, KSK Electricity Financing Private Ltd, Reliance Energy Ltd, Satluj Jal Vidyut Nigam, and Jindal Steel and Power, respectively.
A recently formed four-member team led by the ministry's Joint-Secretary Anup Kumar Upadhyay will negotiate with the companies in this ranking order.
Minister Karki also said the Cabinet has decided to award only one project to one developer. Also, while awarding survey license after negotiations, the government will take a non-refundable charge of Rs 100,000 per MW for both the projects.
For the 600 MW Budhi Gandaki, which could not attract good proposals in the bidding last year, the Ministry will invite another round of bidding soon.
Karki also said efforts are underway to take ahead the 309 MW Upper Tamakoshi project, for which the government has been trying to gather internal funds for the past one year.
The government is also seeking to import an additional 40 MW power from India to ease power cuts in the country, Karki added.
One project per developer
eKantipur.com, 6-Jan-08
The government is seeking a total of 124 megawatt (MW) of free energy from the 402 MW Arun III and 300 MW Upper Karnali projects, Minister for Water Resources Gyanendra Bahadur Karki said here on Sunday.
"A team that has been formed to negotiate the two projects with interested foreign companies will be tasked to seek 88 megawatts of free energy from Arun III and 36 megawatts from Upper Karnali, initiating negotiations with the companies in the order ranked by the taskforce led by Bhanu Prasad Acharya last year," Minister Karki said, briefing the press about last week's cabinet decision on the two projects.
This minimum free energy that companies will have to offer Nepal is based on the Cabinet's decision to prioritize free energy over all other criteria, as directed by the parliament's Natural Resources and Means Committee in July last year. The Cabinet decided to set the highest percentage of free power offered from each project as base requirement for awarding licenses.
Among nine proposals received for Arun III and 14 for Upper Karnali, Jindal Steel and Power has offered the highest percentage of free power from both the projects -- 21.9 percent (88 MW) from Arun III and 12 percent (36 MW) from Upper Karnali.
The taskforce led by Acharya last year rated GMR Energy Ltd, Satluj Jal Vidyut Nigam, Jindal Steel and Power, Reliance Energy Ltd, and Jay Prakash Associates, respectively, as companies with the five best proposals for Arun III, while the companies rated as having the five best proposals for Upper Karnali were GMR Energy Ltd, KSK Electricity Financing Private Ltd, Reliance Energy Ltd, Satluj Jal Vidyut Nigam, and Jindal Steel and Power, respectively.
A recently formed four-member team led by the ministry's Joint-Secretary Anup Kumar Upadhyay will negotiate with the companies in this ranking order.
Minister Karki also said the Cabinet has decided to award only one project to one developer. Also, while awarding survey license after negotiations, the government will take a non-refundable charge of Rs 100,000 per MW for both the projects.
For the 600 MW Budhi Gandaki, which could not attract good proposals in the bidding last year, the Ministry will invite another round of bidding soon.
Karki also said efforts are underway to take ahead the 309 MW Upper Tamakoshi project, for which the government has been trying to gather internal funds for the past one year.
The government is also seeking to import an additional 40 MW power from India to ease power cuts in the country, Karki added.
Saturday, January 05, 2008
Fourth day of Nepse closure : Central bank firm on its decision
Fourth day of Nepse closure : Central bank firm on its decision
ArthaExpress.com, 3-Jan-08
Nepal Rastra Bank (NRB) is bringing a package — within the first week of Magh — to deal with current capital market dispute. “The central bank is categorically going through the books of financial institutions on margin lending and its repercussions on financial institutions and capital market,” a senior official at the central bank, said adding that the new package will minimise the risks of financial institutions and stabilise capital market. However, the NRB refused to revoke its decision of temporary ban on margin lending.
Today, the fourth consecutive day, also Nepse did not witness any trading because of a group of investors, who opposed the trading at the Nepse floor. Earlier, brokers and investors had agreed, in the morning, to open the floor for two hours today. “Stock exchange should not be closed,” Navaraj Pokhrel, president of Nepal Brokers Association, said adding that brokers are against the trading halt.
“NRB might have done mistake but the investors should not halt trading,” he added. But a group of investors, fearing a huge fall in shares prices, forced the brokers not to trade from Monday.
Meanwhile, speaking at an interaction at the Reporters’ Club today, Dr Chiranjivi Nepal, chairman of Securities Board of Nepal (SEBON), the regulatory body of capital market said that globally capital market is directed by three principles: transparency, fair play and reduction of systemic risk. “But Nepali capital market lacks all these parameters,” he said challenging the investors to open the market and prove that margin lending is not fuelling the market.
Rewat Bahadur Karki, general manager of Nepal Stock Exchange (Nepse), the sole secondary market, also requested the opposing investors to trade and test the market.
Narayan Poudel, director at the regulation department of NRB, the regulatory authority of the financial institutions, said that policies continue to change. “However, the central bank is trying to minimize the risk of financial institutions,” he said adding that the central bank can not let financial institutions risk depositors money.
On the occasion, representatives of investors said that they will not let transaction take place untill NRB revokes its decision.
ArthaExpress.com, 3-Jan-08
Nepal Rastra Bank (NRB) is bringing a package — within the first week of Magh — to deal with current capital market dispute. “The central bank is categorically going through the books of financial institutions on margin lending and its repercussions on financial institutions and capital market,” a senior official at the central bank, said adding that the new package will minimise the risks of financial institutions and stabilise capital market. However, the NRB refused to revoke its decision of temporary ban on margin lending.
Today, the fourth consecutive day, also Nepse did not witness any trading because of a group of investors, who opposed the trading at the Nepse floor. Earlier, brokers and investors had agreed, in the morning, to open the floor for two hours today. “Stock exchange should not be closed,” Navaraj Pokhrel, president of Nepal Brokers Association, said adding that brokers are against the trading halt.
“NRB might have done mistake but the investors should not halt trading,” he added. But a group of investors, fearing a huge fall in shares prices, forced the brokers not to trade from Monday.
Meanwhile, speaking at an interaction at the Reporters’ Club today, Dr Chiranjivi Nepal, chairman of Securities Board of Nepal (SEBON), the regulatory body of capital market said that globally capital market is directed by three principles: transparency, fair play and reduction of systemic risk. “But Nepali capital market lacks all these parameters,” he said challenging the investors to open the market and prove that margin lending is not fuelling the market.
Rewat Bahadur Karki, general manager of Nepal Stock Exchange (Nepse), the sole secondary market, also requested the opposing investors to trade and test the market.
Narayan Poudel, director at the regulation department of NRB, the regulatory authority of the financial institutions, said that policies continue to change. “However, the central bank is trying to minimize the risk of financial institutions,” he said adding that the central bank can not let financial institutions risk depositors money.
On the occasion, representatives of investors said that they will not let transaction take place untill NRB revokes its decision.
BoP deficit may lead to crisis in forex reserves
BoP deficit may lead to crisis in forex reserves
eKantipur.com, 4-Jan-08
The continuing deficit in the country's balance of payments (BoP) may lead to a crisis in foreign exchange reserves, say monetary economists.
“The declining trend should provide a wake-up call to policy makers to devise ways to deal with it,” said Dr Raghav Dhoj Pant, a monetary economist. “It is a very worrisome situation, and if not dealt with immediately, it could go out of control.”
The data compiled by the Nepal Rastra Bank (NRB) shows that the BoP registered a deficit of Rs 3.61 billion in the first four months of the current fiscal year. During this period, the foreign currency reserve slipped down 1.2 percent to Rs 163.12 billion. There was a surplus of Rs 180.8 million in the BoP during the same period last year.
The country held enough foreign exchange to finance imports for 8.1 months during the period under review ended mid-November. However, during the same period in the previous year, the foreign exchange reserve was adequate to pay for imports for 8.7 months.
Pant said past experience in Nepal shows that once the reserve goes into a decline, the downward spiral begins to accelerate. “We cannot rule out this scenario now, as capital flight is on the rise,” he said. An official at the NRB said exports were falling and widening the trade deficit, thereby causing a big hole in the BoP. Exports decreased by 6.3 percent in the past the four months.
“The major reason behind the shortfall is that new investments are not coming in,” said the official. He said the government must chalk out a strategy to lure investment, both domestic and foreign, to boost exports. “Otherwise, stemming the deficit may not be achievable,” he said.
Pant also suggested that the government review its pegging system with the Indian rupee. “Our fixed exchange rate is not sustainable and justifiable as the Indian economic growth rate is way above Nepal's,” he added.
But, the NRB official said the pegging system has more benefits for Nepal. “As we do not have a strong export base, it is not the right time to depreciate our currency,” he said.
“As long as we have enough dollars to buy Indian currency, it does not have any impact on the economy.”
In recent periods, the central bank has faced a serious crunch of Indian currency. It bought Indian currency equivalent to Rs 26.87 billion, selling US$ 420 million.
eKantipur.com, 4-Jan-08
The continuing deficit in the country's balance of payments (BoP) may lead to a crisis in foreign exchange reserves, say monetary economists.
“The declining trend should provide a wake-up call to policy makers to devise ways to deal with it,” said Dr Raghav Dhoj Pant, a monetary economist. “It is a very worrisome situation, and if not dealt with immediately, it could go out of control.”
The data compiled by the Nepal Rastra Bank (NRB) shows that the BoP registered a deficit of Rs 3.61 billion in the first four months of the current fiscal year. During this period, the foreign currency reserve slipped down 1.2 percent to Rs 163.12 billion. There was a surplus of Rs 180.8 million in the BoP during the same period last year.
The country held enough foreign exchange to finance imports for 8.1 months during the period under review ended mid-November. However, during the same period in the previous year, the foreign exchange reserve was adequate to pay for imports for 8.7 months.
Pant said past experience in Nepal shows that once the reserve goes into a decline, the downward spiral begins to accelerate. “We cannot rule out this scenario now, as capital flight is on the rise,” he said. An official at the NRB said exports were falling and widening the trade deficit, thereby causing a big hole in the BoP. Exports decreased by 6.3 percent in the past the four months.
“The major reason behind the shortfall is that new investments are not coming in,” said the official. He said the government must chalk out a strategy to lure investment, both domestic and foreign, to boost exports. “Otherwise, stemming the deficit may not be achievable,” he said.
Pant also suggested that the government review its pegging system with the Indian rupee. “Our fixed exchange rate is not sustainable and justifiable as the Indian economic growth rate is way above Nepal's,” he added.
But, the NRB official said the pegging system has more benefits for Nepal. “As we do not have a strong export base, it is not the right time to depreciate our currency,” he said.
“As long as we have enough dollars to buy Indian currency, it does not have any impact on the economy.”
In recent periods, the central bank has faced a serious crunch of Indian currency. It bought Indian currency equivalent to Rs 26.87 billion, selling US$ 420 million.
15 hrs a week power cut from Sunday
15 hrs a week power cut from Sunday
eKantipur.com, 4-Jan-08
Faced with 240 megawatts of power shortage due to fast depleting levels of water in the country's rivers, Nepal Electricity Authority (NEA) has decided to increase power cuts in central Nepal from the existing six hours a week to 15 hours from Sunday.
"There will be power cuts on six days in a week from Lahan in the east to Lamahi in the west from Sunday," said Sher Singh Bhat, chief of NEA's Systems Operations Department. "In places east of Lahan and west of Lamahi, the existing power cuts of around 11 hours a week will continue."
In the central region, power cut durations range from two to three hours a day. The power cuts will start from as early as 5 am to as late as 7:30 pm. NEA has divided the central region into seven groups with different power cut timings. In total, each household will face 15 hours of power cuts per week.
Bhat said the power demand in the country has risen to 720 megawatts. "The new power cut schedule might hold till mid-January, after which we might have to increase the power cut duration," he said.
The last power cut increase was enforced on December 18 in the central region from four to six hours.
Meanwhile, power import from India through Kataiya in the east has dropped from 55 megawatts to around 25 megawatts owing to some technical problem in the Indian grid, according to Bhat. This has temporarily increased load-shedding in the east. "Officially, there is only 11 hours of power cut per week in the east," he said.
The country is getting 20 megawatts from Tanakpur in the west.
Faced with demand pressure, NEA a month ago dissociated parts of the country west of Lamahi and east of Lahan from the national grid, and connected these to the Indian grid.
The existing supply of 480 megawatts includes supply from Kataiya, Tanakpur, Nepal's own hydropower plants and thermal plants also.
According to NEA's estimate, the country could face up to 11 hours of power cuts daily in February-March 2008, the driest period of winter. The dry season will end in April after which the power supply situation will gradually improve till the end of the monsoon next year.
eKantipur.com, 4-Jan-08
Faced with 240 megawatts of power shortage due to fast depleting levels of water in the country's rivers, Nepal Electricity Authority (NEA) has decided to increase power cuts in central Nepal from the existing six hours a week to 15 hours from Sunday.
"There will be power cuts on six days in a week from Lahan in the east to Lamahi in the west from Sunday," said Sher Singh Bhat, chief of NEA's Systems Operations Department. "In places east of Lahan and west of Lamahi, the existing power cuts of around 11 hours a week will continue."
In the central region, power cut durations range from two to three hours a day. The power cuts will start from as early as 5 am to as late as 7:30 pm. NEA has divided the central region into seven groups with different power cut timings. In total, each household will face 15 hours of power cuts per week.
Bhat said the power demand in the country has risen to 720 megawatts. "The new power cut schedule might hold till mid-January, after which we might have to increase the power cut duration," he said.
The last power cut increase was enforced on December 18 in the central region from four to six hours.
Meanwhile, power import from India through Kataiya in the east has dropped from 55 megawatts to around 25 megawatts owing to some technical problem in the Indian grid, according to Bhat. This has temporarily increased load-shedding in the east. "Officially, there is only 11 hours of power cut per week in the east," he said.
The country is getting 20 megawatts from Tanakpur in the west.
Faced with demand pressure, NEA a month ago dissociated parts of the country west of Lamahi and east of Lahan from the national grid, and connected these to the Indian grid.
The existing supply of 480 megawatts includes supply from Kataiya, Tanakpur, Nepal's own hydropower plants and thermal plants also.
According to NEA's estimate, the country could face up to 11 hours of power cuts daily in February-March 2008, the driest period of winter. The dry season will end in April after which the power supply situation will gradually improve till the end of the monsoon next year.
Friday, January 04, 2008
Can Valley await ‘multipurpose’ Melamchi?
Can Valley await ‘multipurpose’ Melamchi?
ArthaExpress.com, 4-Jan-08
The Melamchi Water Supply Project, which entered construction in 2001 with a completion target of 2006, is now expected to be completed in December 2012. The delay is hardly surprising.
Apart from facing repeated obstructions by Maoists during the insurgency, the project became a means for the king to settle political scores after his Feb 1, 2005 takeover. The project also became a means for donors to express their reservations over the king´s regime, through funding pullouts. And last year, the project was on the verge of collapse owing to ideological differences between the minister for physical planning and works and the project´s chief donor.
Now project officials have a new worry: Melamchi ´Multipurpose´ Project. Officials say the proposal to expand the Melamchi project through the incorporation of hydropower and irrigation components is an unnecessary distraction.
The proposal to expand Melamchi into a ´Multipurpose Project´ has been floated mainly by energy economist Ratna Sansar Shrestha. The proposal is not bad per se.
Shrestha has proposed that apart from the Melamchi River, water from Larke, Yangri and Balepi Rivers should also be channeled into the diversion tunnel that is to be built to pump water from Sindhupalchowk district to Sundarijal in Kathmandu.
Shrestha has reasoned that this would increase the volume of water reaching Kathmandu from the proposed 170 million liters daily to 1.2 billion liters daily. This volume would enable the building of two hydropower project - a 35-megawatt project downstream of the three rivers´ convergence with the Melamchi and a 190-megawatt project on the lower Bagmati.
Shrestha has proposed that the surplus water, once evacuated into the Bagmati, would clean that heavily polluted river and also irrigate 13,000 hectares of land in Rautahat and Sarlahi districts.
"This would ease the power crisis facing the country, and increase agricultural output in the tarai," Shrestha said.
Melamchi project officials and those watching the project closely say the expansion proposal threatens to delay progress on Melamchi, something that the Valley can ill afford.
"The idea of adding hydropower and irrigation components to Melamchi is an old one," said a key project official who preferred anonymity. "What is worrying is that people have been lobbying strongly for the expansion at a time when the design supervision consultancy for the tunnel, a major component of the project, is about to be awarded."
Norway´s NORPLAN and Finland´s JakkoPoyry are bidders for the approximately US $ 15 million consultancy. The Finnish company is certain to land it, project sources said.
"With lobbying for the project expansion gaining in strength, award of the consultancy to JakkoPoyry has come under threat," said one project source.
According to Geologist Dr Toran Sharma, who did the Environment Impact Assessment for the Melamchi project in 2001, there is no detailed study backing Shrestha´s proposal.
"Shrestha´s proposal is unclear on issues of social and downstream impacts as well as cost sharing," Sharma said. "The hydropower and irrigation projects are not a bad idea. But they can be developed as separate projects, and not as part of the Melamchi project. Melamchi in its current design and size does not hinder the development of hydropower and irrigation systems."
According to Sharma, deciding to expand the project at this point would mean a change in the project design. "This would delay the project as a new study would have to be conducted and the consultancy award process would need to be restarted," he said.
ArthaExpress.com, 4-Jan-08
The Melamchi Water Supply Project, which entered construction in 2001 with a completion target of 2006, is now expected to be completed in December 2012. The delay is hardly surprising.
Apart from facing repeated obstructions by Maoists during the insurgency, the project became a means for the king to settle political scores after his Feb 1, 2005 takeover. The project also became a means for donors to express their reservations over the king´s regime, through funding pullouts. And last year, the project was on the verge of collapse owing to ideological differences between the minister for physical planning and works and the project´s chief donor.
Now project officials have a new worry: Melamchi ´Multipurpose´ Project. Officials say the proposal to expand the Melamchi project through the incorporation of hydropower and irrigation components is an unnecessary distraction.
The proposal to expand Melamchi into a ´Multipurpose Project´ has been floated mainly by energy economist Ratna Sansar Shrestha. The proposal is not bad per se.
Shrestha has proposed that apart from the Melamchi River, water from Larke, Yangri and Balepi Rivers should also be channeled into the diversion tunnel that is to be built to pump water from Sindhupalchowk district to Sundarijal in Kathmandu.
Shrestha has reasoned that this would increase the volume of water reaching Kathmandu from the proposed 170 million liters daily to 1.2 billion liters daily. This volume would enable the building of two hydropower project - a 35-megawatt project downstream of the three rivers´ convergence with the Melamchi and a 190-megawatt project on the lower Bagmati.
Shrestha has proposed that the surplus water, once evacuated into the Bagmati, would clean that heavily polluted river and also irrigate 13,000 hectares of land in Rautahat and Sarlahi districts.
"This would ease the power crisis facing the country, and increase agricultural output in the tarai," Shrestha said.
Melamchi project officials and those watching the project closely say the expansion proposal threatens to delay progress on Melamchi, something that the Valley can ill afford.
"The idea of adding hydropower and irrigation components to Melamchi is an old one," said a key project official who preferred anonymity. "What is worrying is that people have been lobbying strongly for the expansion at a time when the design supervision consultancy for the tunnel, a major component of the project, is about to be awarded."
Norway´s NORPLAN and Finland´s JakkoPoyry are bidders for the approximately US $ 15 million consultancy. The Finnish company is certain to land it, project sources said.
"With lobbying for the project expansion gaining in strength, award of the consultancy to JakkoPoyry has come under threat," said one project source.
According to Geologist Dr Toran Sharma, who did the Environment Impact Assessment for the Melamchi project in 2001, there is no detailed study backing Shrestha´s proposal.
"Shrestha´s proposal is unclear on issues of social and downstream impacts as well as cost sharing," Sharma said. "The hydropower and irrigation projects are not a bad idea. But they can be developed as separate projects, and not as part of the Melamchi project. Melamchi in its current design and size does not hinder the development of hydropower and irrigation systems."
According to Sharma, deciding to expand the project at this point would mean a change in the project design. "This would delay the project as a new study would have to be conducted and the consultancy award process would need to be restarted," he said.
Paddy prices jump on short supply
Paddy prices jump on short supply
eKantipur.com, 3-Jan-08
A ban slapped by India on the export of paddy to Nepal has cut down its supply in the local market and caused the prices of paddy and rice to shoot up.
Traders said the prices have already gone up by around 30 percent this season compared to a year earlier. India banned the export of food grains like rice and wheat to contain their prices. The price of Sona Mansuli rice, used mostly by people of the lower and medium classes, has reached Rs 1,450 per quintal, up from last year's Rs 1,100. Likewise, a quintal of basmati rice now costs Rs 2,400 where as it was available at Rs 1,800 a year ago.
The price rise came despite a robust 17 percent growth in paddy production in the country.
Fresh data from the Birgunj Customs shows that the country imported 26,448 metric tons of paddy and 3,276 metric tons of rice in the first quarter of the current fiscal year. No rice or paddy was recorded to have been imported since then.
“The prices will keep rising as stock keeps depleting,” Tara Prasad Gupta, a rice trader, told the Post. After carrying out a research on the possible impact of India's ban, Nepal Rastra Bank's Birgunj Regional Office has suggested that the government request India to roll back the ban. As internal production can only meet 65 percent of the total demand, Nepal has no option but to import paddy and rice to feed its people, the research said.
eKantipur.com, 3-Jan-08
A ban slapped by India on the export of paddy to Nepal has cut down its supply in the local market and caused the prices of paddy and rice to shoot up.
Traders said the prices have already gone up by around 30 percent this season compared to a year earlier. India banned the export of food grains like rice and wheat to contain their prices. The price of Sona Mansuli rice, used mostly by people of the lower and medium classes, has reached Rs 1,450 per quintal, up from last year's Rs 1,100. Likewise, a quintal of basmati rice now costs Rs 2,400 where as it was available at Rs 1,800 a year ago.
The price rise came despite a robust 17 percent growth in paddy production in the country.
Fresh data from the Birgunj Customs shows that the country imported 26,448 metric tons of paddy and 3,276 metric tons of rice in the first quarter of the current fiscal year. No rice or paddy was recorded to have been imported since then.
“The prices will keep rising as stock keeps depleting,” Tara Prasad Gupta, a rice trader, told the Post. After carrying out a research on the possible impact of India's ban, Nepal Rastra Bank's Birgunj Regional Office has suggested that the government request India to roll back the ban. As internal production can only meet 65 percent of the total demand, Nepal has no option but to import paddy and rice to feed its people, the research said.
Gold prices touch all-time high - Rs 20,200 per tola
Gold prices touch all-time high
eKantipur.com, 3-Jan-08
Spurred by a hike in oil prices and the weak dollar, gold rose to a record high of Rs 17,320 per 10 grams (Rs 20,200 a tola) in the local bullion market Thursday. The price was Rs 17,105 per 10 grams on Wednesday.
Market analysts and traders said that as global investors had been buying gold as a hedge against accelerating inflation and the falling dollar, prices had moved up in the international market. The local price of the precious metal is based on international trends.
A weaker dollar makes gold cheaper for holders of other currencies, causing the demand for bullion to go up. The metal is also generally seen as a protection against oil-led inflation. “The main reason for the increase is that oil prices have broken through the 100-dollar mark. This and the weakening dollar have driven up gold prices,” said Tej Ratna Shakya, president of the Nepal Gold and Silver Dealers Association. He said these factors have fueled demand for the precious metal in the global bullion market.
World prices of the yellow metal increased to US$ 868 an ounce, smashing the 28-year-old record of US$ 850. This previous record was set in 1980 when investors rushed to buy gold because of a high inflation rate sparked by soaring oil prices amid the Iranian revolution.
Shakya said that with the dollar outlook remaining weak and further US interest rate cuts in store, gold could rise further.
The surge in the price of gold has driven away local buyers. “The demand for gold in the local bullion market has dropped by over 75 percent because of the increase in its price,” said Shakya. “Nepalis buy gold to make jewelry. The concept of purchasing gold as an investment has not developed here.”
eKantipur.com, 3-Jan-08
Spurred by a hike in oil prices and the weak dollar, gold rose to a record high of Rs 17,320 per 10 grams (Rs 20,200 a tola) in the local bullion market Thursday. The price was Rs 17,105 per 10 grams on Wednesday.
Market analysts and traders said that as global investors had been buying gold as a hedge against accelerating inflation and the falling dollar, prices had moved up in the international market. The local price of the precious metal is based on international trends.
A weaker dollar makes gold cheaper for holders of other currencies, causing the demand for bullion to go up. The metal is also generally seen as a protection against oil-led inflation. “The main reason for the increase is that oil prices have broken through the 100-dollar mark. This and the weakening dollar have driven up gold prices,” said Tej Ratna Shakya, president of the Nepal Gold and Silver Dealers Association. He said these factors have fueled demand for the precious metal in the global bullion market.
World prices of the yellow metal increased to US$ 868 an ounce, smashing the 28-year-old record of US$ 850. This previous record was set in 1980 when investors rushed to buy gold because of a high inflation rate sparked by soaring oil prices amid the Iranian revolution.
Shakya said that with the dollar outlook remaining weak and further US interest rate cuts in store, gold could rise further.
The surge in the price of gold has driven away local buyers. “The demand for gold in the local bullion market has dropped by over 75 percent because of the increase in its price,” said Shakya. “Nepalis buy gold to make jewelry. The concept of purchasing gold as an investment has not developed here.”
Wednesday, January 02, 2008
Roundup of Economic & Business News (Dec 1-Dec 31)
Dec 1
Labor woe, quota loss killing garment trade (eKantipur.com)
I’ll quit if fuel supply doesn’t ease: Gupta (eKantipur.com)
Economic indicators paint gloomy outlook (eKantipur.com)
Rural energy programme in 72 districts (Nepalnews.com)
Dec 2
Crops set for impressive growth (eKantipur.com)
Dragon Air eager to bring in Chinese tourists (eKantipur.com)
Dec 3
Nepal, Qatar enforcing labor pact after 3 years (eKantipur.com)
‘Govt to pay IOC dues to end shortage’ (eKantipur.com)
Dec 4
GARBAGE MANAGEMENT: Valley stinks again (eKantipur.com)
Separate body sought to uphold consumers' rights (eKantipur.com)
Leased warehouse, container garage in Kolkata left unused (eKantipur.com)
NEPSE crosses Rs 300b mark (eKantipur.com)
Tourist arrival up by 17.6 pc (Nepalnews.com)
Dec 5
Bad transport hampering Nepal-Bangladesh trade (eKantipur.com)
Outside managers to run RBB (eKantipur.com)
Opening of labor attaché offices stalled (eKantipur.com)
Dec 6
Domestic air fares to go up (eKantipur.com)
Hong Kong Express to link Nepal (eKantipur.com)
Online business directory coming (eKantipur.com)
HIV/AIDS a threat to economy (eKantipur.com)
SAARC Fund in the offing (Nepalnews.com)
Committee recommends hike in transportation fares (Nepalnews.com)
Doctors to shutdown hospital nationwide (Nepalnews.com)
Dec 7
WB approves Rs 16b grant to Nepal (eKantipur.com)
NEPSE overheated, investors advised restraint (eKantipur.com)
Industrial fair kicks off in Pokhara (eKantipur.com)
Dec 8
Valley land prices up 25 pc (eKantipur.com)
Prithivi Highway reopens (eKantipur.com)
Far-western region trade fair kicks off (eKantipur.com)
Govt urged to announce Visit Nepal-09 (eKantipur.com)
Dec 9
‘Weak NAC is major problem of tourism industry’ (eKantipur.com)
Special Court defers verdict on suspended NRB guv’s case (Nepalnews.com)
Dec 10
Labor pact with S Korea today (eKantipur.com)
Orient Thai to fly to Nepal from Dec 18 (eKantipur.com)
Dealers demand more fuel, threaten strike (eKantipur.com)
Nepse crosses 1000 mark (Nepalnews.com)
Dec 11
Nepal seeks Rs 2.5b Korean aid for infrastructure (eKantipur.com)
Nepal, SKorea finally sign pact on language test for workers (eKantipur.com)
Air links to Malaysia, UAE to be expanded (eKantipur.com)
Govt registers bill on banking crimes & punishment (eKantipur.com)
Dec 12
Kuwait shuts out Nepali domestics (eKantipur.com)
16.6m euro grant for Mid-Marsyangdi (eKantipur.com)
NEPSE to open over-the-counter trade (eKantipur.com)
FM instructed to pay IOC dues (eKantipur.com)
Nepalis with visitor visas slip into Iraq, Afghanistan (eKantipur.com)
ADB extends US$ 100 million grant to Nepal (Nepalnews.com)
Dec 13
MoneyGram Intn'l gets Nepali agent (eKantipur.com)
Nepal-Qatar finalize additional protocol (eKantipur.com)
NEPSE halts trading after prices go through roof (eKantipur.com)
Hong Kong Express Airways begins thrice-weekly service (eKantipur.com)
SEBON cancels license of broker (eKantipur.com)
Government introduces dairy policy (eKantipur.com)
Dec 14
Verdict on governor case deferred again (eKantipur.com)
NAC to suspend flights from Tuesday (eKantipur.com)
Gorkha Lahari to launch Brown Cigarettes (eKantipur.com)
Harassed carpet makers want separate labor law (eKantipur.com)
Agro fair kicks off in Chitwan (eKantipur.com)
Dec 15
Petroleum dealers announce strike (eKantipur.com)
Dec 16
NT’s optical fiber theft causing huge loss (eKantipur.com)
Dec 17
‘Reconstruction will need Rs 5b, 20 yrs’ (eKantipur.com)
Power cuts increase to 6 hours a week (eKantipur.com)
Petroleum dealers pull down shutters (eKantipur.com)
Paddy price at five-year high in east (eKantipur.com)
Micro finances have benefited 0.9m poor: Report (eKantipur.com)
Dec 18
Want petrol? Buy bonds first (eKantipur.com)
NAC suspends flights (eKantipur.com)
RBB's management contract to be extended by 6 months (eKantipur.com)
Govt to bring out new law on micro-insurance (eKantipur.com)
Bandh cripples Terai districts (Nepalnews.com)
Dec 19
Panel urges differential pricing for cooking gas (eKantipur.com)
‘Adopt investment-friendly policy’ (eKantipur.com)
List of Korean language schools being finalized (eKantipur.com)
Entrepreneurs, farmers seek marketing support (eKantipur.com)
PM urges China to bring railway network up to border (Nepalnews.com)
Hydro power can help reduce growing trade deficit with India, says minister (Nepalnews.com)
Dec 20
Subsidy for LPG, petrol may end soon (eKantipur.com)
‘Development activities on fast track’ (eKantipur.com)
Medicinal herbs fair begins in Nepalgunj (eKantipur.com)
Maoists close Sipradi Trading Pvt Ltd (eKantipur.com)
China to provide concessional loan of Rs 13 billion (Nepalnews.com)
NOC to come up with guideline to mix ethanol in petrol (Nepalnews.com)
Petroleum dealers to go on strike from Dec 25 (Nepalnews.com)
Dec 21
‘Pay Rs 125,000 at most for jobs in South Korea’ (eKantipur.com)
UTL cuts rates to US, Canada, India (eKantipur.com)
Mahat for privatized TIA mgmt (eKantipur.com)
Dec 22
‘Ad sector facing HR crunch’ (eKantipur.com)
Lack of buyers cause ginger prices to plummet (eKantipur.com)
No fall in prices despite road network (eKantipur.com)
Agro technicians demand change in CADP implementation (eKantipur.com)
First school of Nepal privatised (Nepalnews.com)
Dec 23
Federal Republic of Nepal, 601-member CA agreed (eKantipur.com)
‘Govt should support carpet industry’ (eKantipur.com)
Auto showroom for small businesses (eKantipur.com)
'Power supply in Nepal unreliable, unaffordable' (TRN)
Dec 24
NT promises problem-free mobile calls in 6 months (eKantipur.com)
Govt to straighten oil supply in a month (eKantipur.com)
Sauraha aiming to extend tourists’ stay (eKantipur.com)
‘Aid commitment crossed Rs 26b in ten months’ (eKantipur.com)
Dec 25
Departures to foreign pastures up 23 pc (eKantipur.com)
More flights to UAE planned (eKantipur.com)
NIC introduces silver in 10kg packs (eKantipur.com)
Petro dealers withdraw strike (Nepalnews.com)
Dec 26
Petrol reaches Rs 80 per liter (eKantipur.com)
Nepal’s power grid saturated (eKantipur.com)
Nepali tea, pashmina good but not gaining market (eKantipur.com)
‘Federal system expensive’ (eKantipur.com)
Farmers stop sugarcane supply (eKantipur.com)
Tea exports ‘need to rise’ (ArthaExpress)
Dec 27
West Seti: ‘10 pc free energy, else re-bidding’ (eKantipur.com)
Nepal reviews ASA with UAE (eKantipur.com)
Security situation hurting exports (eKantipur.com)
Govt asked to make sugar mills clear dues (eKantipur.com)
Students stage protest against petrol price hike (Nepalnews.com)
After petrol, country may face bank note shortage (Nepalnews.com)
NRN Youth Forum launches Development Salon (Nepalnews.com)
Dec 28
Banking, a boon for consumers (eKantipur.com)
Margin lending restricted (eKantipur.com)
Fairs, road shows to lure tourists (eKantipur.com)
Bogus language institutes making government's list (eKantipur.com)
House presses for free energy in West Seti (Nepalnews.com)
Bhilwara Energy looking at hydel projects in Nepal (DNA)
A real state developer: Comfort Housing shows the way in managing urbanisation and creating jobs (NepaliTimes)
Dec 29
Orient Thai flies in Nepali sky (eKantipur.com)
‘Stop illegal highway taxes or we'll stop exports’ (eKantipur.com)
Budget deficit Rs 7.41b (eKantipur.com)
Criteria change for awarding Arun III, Upper Karnali (eKantipur.com)
Dec 31
Dual pricing for LPG coming soon (ArthaExpress)
FDI commitment all-time high (ArthaExpress)
Labor woe, quota loss killing garment trade (eKantipur.com)
I’ll quit if fuel supply doesn’t ease: Gupta (eKantipur.com)
Economic indicators paint gloomy outlook (eKantipur.com)
Rural energy programme in 72 districts (Nepalnews.com)
Dec 2
Crops set for impressive growth (eKantipur.com)
Dragon Air eager to bring in Chinese tourists (eKantipur.com)
Dec 3
Nepal, Qatar enforcing labor pact after 3 years (eKantipur.com)
‘Govt to pay IOC dues to end shortage’ (eKantipur.com)
Dec 4
GARBAGE MANAGEMENT: Valley stinks again (eKantipur.com)
Separate body sought to uphold consumers' rights (eKantipur.com)
Leased warehouse, container garage in Kolkata left unused (eKantipur.com)
NEPSE crosses Rs 300b mark (eKantipur.com)
Tourist arrival up by 17.6 pc (Nepalnews.com)
Dec 5
Bad transport hampering Nepal-Bangladesh trade (eKantipur.com)
Outside managers to run RBB (eKantipur.com)
Opening of labor attaché offices stalled (eKantipur.com)
Dec 6
Domestic air fares to go up (eKantipur.com)
Hong Kong Express to link Nepal (eKantipur.com)
Online business directory coming (eKantipur.com)
HIV/AIDS a threat to economy (eKantipur.com)
SAARC Fund in the offing (Nepalnews.com)
Committee recommends hike in transportation fares (Nepalnews.com)
Doctors to shutdown hospital nationwide (Nepalnews.com)
Dec 7
WB approves Rs 16b grant to Nepal (eKantipur.com)
NEPSE overheated, investors advised restraint (eKantipur.com)
Industrial fair kicks off in Pokhara (eKantipur.com)
Dec 8
Valley land prices up 25 pc (eKantipur.com)
Prithivi Highway reopens (eKantipur.com)
Far-western region trade fair kicks off (eKantipur.com)
Govt urged to announce Visit Nepal-09 (eKantipur.com)
Dec 9
‘Weak NAC is major problem of tourism industry’ (eKantipur.com)
Special Court defers verdict on suspended NRB guv’s case (Nepalnews.com)
Dec 10
Labor pact with S Korea today (eKantipur.com)
Orient Thai to fly to Nepal from Dec 18 (eKantipur.com)
Dealers demand more fuel, threaten strike (eKantipur.com)
Nepse crosses 1000 mark (Nepalnews.com)
Dec 11
Nepal seeks Rs 2.5b Korean aid for infrastructure (eKantipur.com)
Nepal, SKorea finally sign pact on language test for workers (eKantipur.com)
Air links to Malaysia, UAE to be expanded (eKantipur.com)
Govt registers bill on banking crimes & punishment (eKantipur.com)
Dec 12
Kuwait shuts out Nepali domestics (eKantipur.com)
16.6m euro grant for Mid-Marsyangdi (eKantipur.com)
NEPSE to open over-the-counter trade (eKantipur.com)
FM instructed to pay IOC dues (eKantipur.com)
Nepalis with visitor visas slip into Iraq, Afghanistan (eKantipur.com)
ADB extends US$ 100 million grant to Nepal (Nepalnews.com)
Dec 13
MoneyGram Intn'l gets Nepali agent (eKantipur.com)
Nepal-Qatar finalize additional protocol (eKantipur.com)
NEPSE halts trading after prices go through roof (eKantipur.com)
Hong Kong Express Airways begins thrice-weekly service (eKantipur.com)
SEBON cancels license of broker (eKantipur.com)
Government introduces dairy policy (eKantipur.com)
Dec 14
Verdict on governor case deferred again (eKantipur.com)
NAC to suspend flights from Tuesday (eKantipur.com)
Gorkha Lahari to launch Brown Cigarettes (eKantipur.com)
Harassed carpet makers want separate labor law (eKantipur.com)
Agro fair kicks off in Chitwan (eKantipur.com)
Dec 15
Petroleum dealers announce strike (eKantipur.com)
Dec 16
NT’s optical fiber theft causing huge loss (eKantipur.com)
Dec 17
‘Reconstruction will need Rs 5b, 20 yrs’ (eKantipur.com)
Power cuts increase to 6 hours a week (eKantipur.com)
Petroleum dealers pull down shutters (eKantipur.com)
Paddy price at five-year high in east (eKantipur.com)
Micro finances have benefited 0.9m poor: Report (eKantipur.com)
Dec 18
Want petrol? Buy bonds first (eKantipur.com)
NAC suspends flights (eKantipur.com)
RBB's management contract to be extended by 6 months (eKantipur.com)
Govt to bring out new law on micro-insurance (eKantipur.com)
Bandh cripples Terai districts (Nepalnews.com)
Dec 19
Panel urges differential pricing for cooking gas (eKantipur.com)
‘Adopt investment-friendly policy’ (eKantipur.com)
List of Korean language schools being finalized (eKantipur.com)
Entrepreneurs, farmers seek marketing support (eKantipur.com)
PM urges China to bring railway network up to border (Nepalnews.com)
Hydro power can help reduce growing trade deficit with India, says minister (Nepalnews.com)
Dec 20
Subsidy for LPG, petrol may end soon (eKantipur.com)
‘Development activities on fast track’ (eKantipur.com)
Medicinal herbs fair begins in Nepalgunj (eKantipur.com)
Maoists close Sipradi Trading Pvt Ltd (eKantipur.com)
China to provide concessional loan of Rs 13 billion (Nepalnews.com)
NOC to come up with guideline to mix ethanol in petrol (Nepalnews.com)
Petroleum dealers to go on strike from Dec 25 (Nepalnews.com)
Dec 21
‘Pay Rs 125,000 at most for jobs in South Korea’ (eKantipur.com)
UTL cuts rates to US, Canada, India (eKantipur.com)
Mahat for privatized TIA mgmt (eKantipur.com)
Dec 22
‘Ad sector facing HR crunch’ (eKantipur.com)
Lack of buyers cause ginger prices to plummet (eKantipur.com)
No fall in prices despite road network (eKantipur.com)
Agro technicians demand change in CADP implementation (eKantipur.com)
First school of Nepal privatised (Nepalnews.com)
Dec 23
Federal Republic of Nepal, 601-member CA agreed (eKantipur.com)
‘Govt should support carpet industry’ (eKantipur.com)
Auto showroom for small businesses (eKantipur.com)
'Power supply in Nepal unreliable, unaffordable' (TRN)
Dec 24
NT promises problem-free mobile calls in 6 months (eKantipur.com)
Govt to straighten oil supply in a month (eKantipur.com)
Sauraha aiming to extend tourists’ stay (eKantipur.com)
‘Aid commitment crossed Rs 26b in ten months’ (eKantipur.com)
Dec 25
Departures to foreign pastures up 23 pc (eKantipur.com)
More flights to UAE planned (eKantipur.com)
NIC introduces silver in 10kg packs (eKantipur.com)
Petro dealers withdraw strike (Nepalnews.com)
Dec 26
Petrol reaches Rs 80 per liter (eKantipur.com)
Nepal’s power grid saturated (eKantipur.com)
Nepali tea, pashmina good but not gaining market (eKantipur.com)
‘Federal system expensive’ (eKantipur.com)
Farmers stop sugarcane supply (eKantipur.com)
Tea exports ‘need to rise’ (ArthaExpress)
Dec 27
West Seti: ‘10 pc free energy, else re-bidding’ (eKantipur.com)
Nepal reviews ASA with UAE (eKantipur.com)
Security situation hurting exports (eKantipur.com)
Govt asked to make sugar mills clear dues (eKantipur.com)
Students stage protest against petrol price hike (Nepalnews.com)
After petrol, country may face bank note shortage (Nepalnews.com)
NRN Youth Forum launches Development Salon (Nepalnews.com)
Dec 28
Banking, a boon for consumers (eKantipur.com)
Margin lending restricted (eKantipur.com)
Fairs, road shows to lure tourists (eKantipur.com)
Bogus language institutes making government's list (eKantipur.com)
House presses for free energy in West Seti (Nepalnews.com)
Bhilwara Energy looking at hydel projects in Nepal (DNA)
A real state developer: Comfort Housing shows the way in managing urbanisation and creating jobs (NepaliTimes)
Dec 29
Orient Thai flies in Nepali sky (eKantipur.com)
‘Stop illegal highway taxes or we'll stop exports’ (eKantipur.com)
Budget deficit Rs 7.41b (eKantipur.com)
Criteria change for awarding Arun III, Upper Karnali (eKantipur.com)
Dec 31
Dual pricing for LPG coming soon (ArthaExpress)
FDI commitment all-time high (ArthaExpress)
FDI commitment all-time high
FDI commitment all-time high
ArthaExpress, 31-Dec-07
If there is anything to cheer for Nepal in a gloomy economic scenario, it´s a significant growth in foreign direct investment commitment — thanks to increased interest of investors in hydrop-ower and real estate.
The FDI commitment during the first four months of current fiscal year crossed Rs 4.1 billion, a whopping rise of over 28 per cent against Rs 3.22 billion during the fiscal 2006-07, also broke all previous records in terms of share of foreign investment, according to the Department of Industry.
Till mid-November, the department had given its nod to 62 projects with total project cost of Rs 4.63 billion, of which over 88 per cent is FDI. These projects are estimated to generate employment to 2,550 people.
Tilak Ram Sharma, director general at DoI, said, “Confidence of foreign in Nepal has improved in recent times.” Sharma said more foreign investors are keen to invest in capital-intensive industries such as hydropower, manufacturing and real estate. “The non-resident Nepalis have also shown interests to invest in mega projects. The recent amendment in investment policies for infrastructure development has also helped to lure ,” he added.
A real estate project promoted by an NRN group from Australia worth over one billion rupees got DoI nod this year.
Till November 14, DoI had approved 1,345 projects with equity participation of foreign investors. Of the approved projects, only 401 are operational, while 127 are under construction and 122 have got license to operate. The total cost of these projects is Rs 102 billion, with 36 per cent (Rs 37 billion) FDI. In fiscal 2006-07, FDI commitment from India topped the list with 356 projects being approved. Chinese companies bagged 158 projects, Japan 125 and the USA got 121 projects.
ArthaExpress, 31-Dec-07
If there is anything to cheer for Nepal in a gloomy economic scenario, it´s a significant growth in foreign direct investment commitment — thanks to increased interest of investors in hydrop-ower and real estate.
The FDI commitment during the first four months of current fiscal year crossed Rs 4.1 billion, a whopping rise of over 28 per cent against Rs 3.22 billion during the fiscal 2006-07, also broke all previous records in terms of share of foreign investment, according to the Department of Industry.
Till mid-November, the department had given its nod to 62 projects with total project cost of Rs 4.63 billion, of which over 88 per cent is FDI. These projects are estimated to generate employment to 2,550 people.
Tilak Ram Sharma, director general at DoI, said, “Confidence of foreign in Nepal has improved in recent times.” Sharma said more foreign investors are keen to invest in capital-intensive industries such as hydropower, manufacturing and real estate. “The non-resident Nepalis have also shown interests to invest in mega projects. The recent amendment in investment policies for infrastructure development has also helped to lure ,” he added.
A real estate project promoted by an NRN group from Australia worth over one billion rupees got DoI nod this year.
Till November 14, DoI had approved 1,345 projects with equity participation of foreign investors. Of the approved projects, only 401 are operational, while 127 are under construction and 122 have got license to operate. The total cost of these projects is Rs 102 billion, with 36 per cent (Rs 37 billion) FDI. In fiscal 2006-07, FDI commitment from India topped the list with 356 projects being approved. Chinese companies bagged 158 projects, Japan 125 and the USA got 121 projects.
Subscribe to:
Posts (Atom)