Food stocks down to week’s supply
eKantipur.com, 18-Feb-08
Foodstuffs are running low and the prices of fresh vegetables have shot up as deliveries were disrupted by the tarai banda which has entered its sixth day.
Traders warn that if the supply situation worsens, the resulting acute shortage of food and vegetables would lead to further price rises.
“Rice and oil stocks held by major wholesalers in the Kathmandu Valley are down to half of normal levels,” Satish Kumar Bohara, joint secretary of the Nepal Rice, Oil and Pulse Producers Association, told the Post.
According to Bohara, stockpiles of rice and oil have dwindled to 5,000 and 1,500 tons respectively in the marketplace.
“The existing supply can fulfill the needs of the valley's 2.5 million population for hardly seven to 10 days,” he said. “The prices of foodstuffs, which are sourced mainly from the eastern tarai, will skyrocket due to the severe scarcity.”
He attributed the disruption in supply to the tarai unrest, fuel shortage and load-shedding, which has brought production to a complete halt at rice mills.
The banda in the tarai has also impacted the transport of vegetables, and fewer shipments are arriving at the marketplace.
According to Binaya Shrestha, planning officer of the Kalimati Fruits and Vegetables Market Development Board (KFVMDB), the inflow of vegetables at the Kalimati wholesale market has plummeted to around 500 tons per day from over 750 tons a week ago.
Vegetables from India and the tarai account for 25 percent of the total supply during this season.
“The delivery of fish and lemons from India was almost nil during the past week,” Shrestha said.
However, traders said that the prices of popular vegetables, barring some items, had not gone up because of the bumper harvests in the districts around the Kathmandu Valley.
Tarai farmers are supplying vegetables at throwaway prices to the valley, which is the only major market for them.
“But this state of affairs will not last for long. If the transport situation does not improve immediately, a hike in vegetable prices is inevitable because of the exorbitant freight charged by carriers,” said Bhoj Raj Rimal, a wholesaler of fresh vegetables at Kalimati. According to him, truckers have jacked up their rates to Rs 27,000 from Rs 15,000 previously for carrying a load of vegetables to Kathmandu from Lahan, a major vegetable trading hub.
The collection, processing and delivery of dairy products have also been thrown into chaos by load-shedding and the acute fuel shortage which has resulted in fewer vehicles plying on the roads, said dairy producers.
“Despite the problems, we have managed to get by so far,” said Sumit Kedia, general secretary of the Dairy Producers Association. He added that milk collection, processing and delivery would come to a complete halt if the fuel supply did not improve soon. Private dairies collect around 350,000 liters of milk daily from more than half a dozen districts.
Tuesday, February 19, 2008
Monday, February 18, 2008
The grass is always greener
The grass is always greener
Dining out in Singapore, chances are the waiters will all be Nepali students on internships
NepaliTimes, Issue #387 (15-Feb-08 to 21-Feb-08)
SHEERE NG in SINGAPORE
Krishna sits quietly in a corner, earnestly taking down notes written on the board. Together with him are 20 other Nepali students paying close attention to their lecturer.
It seems like an ordinary class on an ordinary school day, except that he is at least a decade older than his classmates, and the setting is 5,000km away from his home in Nepal. The 37-year-old flew to Singapore a year ago and has spent a total of Rs 350,000 in order to study hotel management in a private school here.
The number of Nepalis studying tourism and other related subjects in Singapore has continued to increase in recent years. The country is particularly a popular study destination for Nepalis because many of its colleges issue internationally-recognised certificates, which make it easier to apply for further studies in Europe and North America than if they applied straight from Nepal.
Singapore also has an abundance of employment opportunities and a relatively good average wage. Tourism courses are especially popular because they offer both the chance to get a good qualification and, as they include On the Job Training (OFT), the opportunity to work and earn money.
Most tourism students on OJT earn about Rs 260 per hour as waiters at restaurants and hotels. Even though this money can only offset part of the large expenses they incur in coming to Singapore, most see the hardship as worth bearing for the prospect of a brighter future.
Mani Prasad, a student at the Tourism Management Institute of Singapore, says: “My parents have made a big investment to help me be financially independent.” He is working as a trainee but finds it harder than he expected to meet his everyday expenses.
Together with his cousin, he rents a room at Little India hostel in central Singapore. Besides them, there are more than 20 other Nepali students staying in the hostel, with three to five of them crowded into each room. He can’t afford to go out very much, so to pass the time he stays in the room and watches DVDs. He’s not sure what he should do next: “I might take another course, go to another country or head back home. Nothing is fixed yet,” he says.
Binod, another hotel management student, studied mass communications in Nepal and aspires to be a journalist. Currently working as a waiter on his OJT period, he has applied to study journalism at another school after his course finishes. If his application is successful, he will be one step closer to his dream, but he will also have to fork out another large sum of money for the school fees. When asked if he would return to Nepal, he nods his head without hesitation. “But only when I have name and fame,” he adds.
Many Nepalis in Singapore have spent most or all of their savings to come here. Krishna had originally wanted to go to the US or Canada but despite the fact he holds a degree from Tribhuban University, both his applications were rejected. Singapore was a more reachable destination for someone of his means.
“My friends said Singapore has many hotels, easier to find a job,” he says. Having faced many difficulties to make ends meet as a student, he has now managed to secure a work permit to begin after his course, which will allow him to work full-time and earn between Rs 50,000-65,000 per month.
He is currently satisfied with his situation, but he still hasn’t forgotten his dream: to try again for America or Canada. But his life-plan, like many other Nepalis in Singapore for now, is to stay put until the chance comes up to move to greener pastures.
Dining out in Singapore, chances are the waiters will all be Nepali students on internships
NepaliTimes, Issue #387 (15-Feb-08 to 21-Feb-08)
SHEERE NG in SINGAPORE
Krishna sits quietly in a corner, earnestly taking down notes written on the board. Together with him are 20 other Nepali students paying close attention to their lecturer.
It seems like an ordinary class on an ordinary school day, except that he is at least a decade older than his classmates, and the setting is 5,000km away from his home in Nepal. The 37-year-old flew to Singapore a year ago and has spent a total of Rs 350,000 in order to study hotel management in a private school here.
The number of Nepalis studying tourism and other related subjects in Singapore has continued to increase in recent years. The country is particularly a popular study destination for Nepalis because many of its colleges issue internationally-recognised certificates, which make it easier to apply for further studies in Europe and North America than if they applied straight from Nepal.
Singapore also has an abundance of employment opportunities and a relatively good average wage. Tourism courses are especially popular because they offer both the chance to get a good qualification and, as they include On the Job Training (OFT), the opportunity to work and earn money.
Most tourism students on OJT earn about Rs 260 per hour as waiters at restaurants and hotels. Even though this money can only offset part of the large expenses they incur in coming to Singapore, most see the hardship as worth bearing for the prospect of a brighter future.
Mani Prasad, a student at the Tourism Management Institute of Singapore, says: “My parents have made a big investment to help me be financially independent.” He is working as a trainee but finds it harder than he expected to meet his everyday expenses.
Together with his cousin, he rents a room at Little India hostel in central Singapore. Besides them, there are more than 20 other Nepali students staying in the hostel, with three to five of them crowded into each room. He can’t afford to go out very much, so to pass the time he stays in the room and watches DVDs. He’s not sure what he should do next: “I might take another course, go to another country or head back home. Nothing is fixed yet,” he says.
Binod, another hotel management student, studied mass communications in Nepal and aspires to be a journalist. Currently working as a waiter on his OJT period, he has applied to study journalism at another school after his course finishes. If his application is successful, he will be one step closer to his dream, but he will also have to fork out another large sum of money for the school fees. When asked if he would return to Nepal, he nods his head without hesitation. “But only when I have name and fame,” he adds.
Many Nepalis in Singapore have spent most or all of their savings to come here. Krishna had originally wanted to go to the US or Canada but despite the fact he holds a degree from Tribhuban University, both his applications were rejected. Singapore was a more reachable destination for someone of his means.
“My friends said Singapore has many hotels, easier to find a job,” he says. Having faced many difficulties to make ends meet as a student, he has now managed to secure a work permit to begin after his course, which will allow him to work full-time and earn between Rs 50,000-65,000 per month.
He is currently satisfied with his situation, but he still hasn’t forgotten his dream: to try again for America or Canada. But his life-plan, like many other Nepalis in Singapore for now, is to stay put until the chance comes up to move to greener pastures.
Bandh hits industries in Morang-Sunsari corridor
Bandh hits industries in Morang-Sunsari corridor
ArthaExpress.com, 17-Feb-08
Indefinite bandhs in Tarai has hit Morang-Sunsari corridor industries hard as they have incurred loss of more than Rs 1000 million.
“The industries in the corridor are incurring a loss of Rs 250 million per day,” the Morang Trade Association (MTA) said. “Eighty per cent of industries in the corridor are already closed due to Tarai bandh,” MTA acting chairman Mahesh Jaju said, adding that some industries at Khanar in Sunsari and Tankisinwari in Morang are operating under a heavy security provision.
“The industries that produce jute, noodles, thread, plastic, soap, biscuit and the rice mills are directly hurt by the bandh,” industrialists said.
“The industries producing consumer goods are hit by the bandh hard,” MTA first vice chairman Moti Dugar said adding that condition of the industries will even worsen in the days to come.
“Condition of jute industries is the worst due to indefinite bandh,” proprietor of Swastik Jute Industry and FNCCI central member Champalal Rathi said.
However, the closure of industries has put less burden on Nepal Electricity Authority (NEA) and it has reduced hours of load shedding in the eastern region.
“As the consumption of electricity has decreased following the closure of industries, load shedding hour has been reduced,” chief at NEA Duhabi Grid, Rajendra Mishra said, adding that the daily seven hours of load shedding has been reduced to four to five hours only.
There is a daily demand of 95 mega watt of electricity in the eastern development region. “And the Morang-Sunsari corridor consumes 40 mega watt,” NEA source said.
ArthaExpress.com, 17-Feb-08
Indefinite bandhs in Tarai has hit Morang-Sunsari corridor industries hard as they have incurred loss of more than Rs 1000 million.
“The industries in the corridor are incurring a loss of Rs 250 million per day,” the Morang Trade Association (MTA) said. “Eighty per cent of industries in the corridor are already closed due to Tarai bandh,” MTA acting chairman Mahesh Jaju said, adding that some industries at Khanar in Sunsari and Tankisinwari in Morang are operating under a heavy security provision.
“The industries that produce jute, noodles, thread, plastic, soap, biscuit and the rice mills are directly hurt by the bandh,” industrialists said.
“The industries producing consumer goods are hit by the bandh hard,” MTA first vice chairman Moti Dugar said adding that condition of the industries will even worsen in the days to come.
“Condition of jute industries is the worst due to indefinite bandh,” proprietor of Swastik Jute Industry and FNCCI central member Champalal Rathi said.
However, the closure of industries has put less burden on Nepal Electricity Authority (NEA) and it has reduced hours of load shedding in the eastern region.
“As the consumption of electricity has decreased following the closure of industries, load shedding hour has been reduced,” chief at NEA Duhabi Grid, Rajendra Mishra said, adding that the daily seven hours of load shedding has been reduced to four to five hours only.
There is a daily demand of 95 mega watt of electricity in the eastern development region. “And the Morang-Sunsari corridor consumes 40 mega watt,” NEA source said.
WEEKLY SHARE UPDATE : Bottlers Nepal pushes Nepse up
WEEKLY SHARE UPDATE : Bottlers Nepal pushes Nepse up
ArthaExpress.com, 16-Feb-08
Bottlers Nepal — with a plan to capture 80 per cent of the market share within next two years — pushed the Nepse up this week as it topped the chart with a transaction worth Rs 309.99 million. It also pushed the manufacturing group up by 24.44 points to 385.40 points.
Khetan Group, a prominent business group, has bought 4,29,000-unit shares of Bottlers’ Nepal — the producers and marketeers of multinational softdrink brand Coca Cola in Nepal.
Though the week started on a strong note with 25.88 points growth on Sunday, the first day of the trading, it slowed down on the other days. The Nepse index closed at 795.89 points — a growth of 45.03 points from last week’s closing of 750.86 points — on Thursday, the last day of the trading for the week. For the first three days, Nepse flared but on Wednesday, it dropped by 4.52 points to 809.91 points from Tuesday’s closing of 814.43 points. On Thursday also, Nepse plunged by 14.02 points to close at 795.89 points.
Stocks of Commercial banks, Development banks and Insurance group — the market leaders, except Hydropower group that is still flaring — registered losses this week. Commercial banks group plunged by 17.89 points to 790.62 points. Development bank group was down by a whopping 41.51 points to 1067.31 points. Similarly, Insurance group fell by 5.12 points to 803.36.
However, the sensitive index posted a minimal rise — at the closing on Thursday — of 6.82 points to 204.05 points from Sunday’s 197.23 points. But the market breadth was weak with stocks that were in the red outnumbering those in the positive territory.
Major gainers this week, include Bottlers’ Nepal Ltd with Rs 309.99 million, National Hydropower Company with 82.72 million, Machhapuchhre Bank with 80.69 million, Bank of Kathmandu with Rs 48.49 million and Siddhartha Bank with Rs 34.42 million transactions, according to the Nepse. The five-day transaction at Nepse floor, however, didnot see transaction of bond that is another investment option.
ArthaExpress.com, 16-Feb-08
Bottlers Nepal — with a plan to capture 80 per cent of the market share within next two years — pushed the Nepse up this week as it topped the chart with a transaction worth Rs 309.99 million. It also pushed the manufacturing group up by 24.44 points to 385.40 points.
Khetan Group, a prominent business group, has bought 4,29,000-unit shares of Bottlers’ Nepal — the producers and marketeers of multinational softdrink brand Coca Cola in Nepal.
Though the week started on a strong note with 25.88 points growth on Sunday, the first day of the trading, it slowed down on the other days. The Nepse index closed at 795.89 points — a growth of 45.03 points from last week’s closing of 750.86 points — on Thursday, the last day of the trading for the week. For the first three days, Nepse flared but on Wednesday, it dropped by 4.52 points to 809.91 points from Tuesday’s closing of 814.43 points. On Thursday also, Nepse plunged by 14.02 points to close at 795.89 points.
Stocks of Commercial banks, Development banks and Insurance group — the market leaders, except Hydropower group that is still flaring — registered losses this week. Commercial banks group plunged by 17.89 points to 790.62 points. Development bank group was down by a whopping 41.51 points to 1067.31 points. Similarly, Insurance group fell by 5.12 points to 803.36.
However, the sensitive index posted a minimal rise — at the closing on Thursday — of 6.82 points to 204.05 points from Sunday’s 197.23 points. But the market breadth was weak with stocks that were in the red outnumbering those in the positive territory.
Major gainers this week, include Bottlers’ Nepal Ltd with Rs 309.99 million, National Hydropower Company with 82.72 million, Machhapuchhre Bank with 80.69 million, Bank of Kathmandu with Rs 48.49 million and Siddhartha Bank with Rs 34.42 million transactions, according to the Nepse. The five-day transaction at Nepse floor, however, didnot see transaction of bond that is another investment option.
Fuel, Power Crisis May Halt City Hospital Services
Fuel, Power Crisis May Halt City Hospital Services
ArthaExpress.com, 18-Feb-08
Hospitals and nursing homes in the capital would be in real trouble if the irregular power supply and fuel shortage persists for two or three days more, so much so that a few ambulances have already been grounded.
Four vehicles of the Tribhuvan University Teaching Hospital (TUTH), used for ferrying more than 1,000 staffers, do not operate services during the day time and only ply at night. Even three ambulances of the TUTH are off the road due to shortage of fuel.
"One ambulance has been ferrying doctors and other staffers," said Dr Mahesh Khakurel, director general of the TUTH, adding that the hospital has written to the Home Ministry and Ministry of Supplies and Commerce urging to put an end to this situation.
At the same time the flow of patients in the hospitals from outside the Valley have also fallen. Earlier, the hospital´s out patient department used to witness a long serpentine queue and issue tickets up to 400 patients on an average daily.
The government hospitals do not have to to bear the brunt of load-shedding as they have the connection of direct electricity lines.
However, the private hospitals and nursing homes are depending on diesel during the power cuts. Though they are operating with the help of generators during power cuts, the diesel shortage in the market is sure to affect them.
"Mechanical equipments and expensive instruments easily get depreciated and this affects the service of hospitals," said Dr Bhola Rijal, president of private health institution. The day is not too far when the hospital services will remain halted if this situation continues, he said. Dr Rijal said the government should consider providing an alternate source of electricity to the private health institutions.
Shankar Oxygen Plant, which had supplied 600 oxygen cylinders a day on an average to the hospitals and nursing homes, just supplied 150 cylinders today. "We received 4,000 litres of diesel through the Ministry of Health and Population. We think the stock would not last after a month," said Prakash Agrawal, employee of the plant.
ArthaExpress.com, 18-Feb-08
Hospitals and nursing homes in the capital would be in real trouble if the irregular power supply and fuel shortage persists for two or three days more, so much so that a few ambulances have already been grounded.
Four vehicles of the Tribhuvan University Teaching Hospital (TUTH), used for ferrying more than 1,000 staffers, do not operate services during the day time and only ply at night. Even three ambulances of the TUTH are off the road due to shortage of fuel.
"One ambulance has been ferrying doctors and other staffers," said Dr Mahesh Khakurel, director general of the TUTH, adding that the hospital has written to the Home Ministry and Ministry of Supplies and Commerce urging to put an end to this situation.
At the same time the flow of patients in the hospitals from outside the Valley have also fallen. Earlier, the hospital´s out patient department used to witness a long serpentine queue and issue tickets up to 400 patients on an average daily.
The government hospitals do not have to to bear the brunt of load-shedding as they have the connection of direct electricity lines.
However, the private hospitals and nursing homes are depending on diesel during the power cuts. Though they are operating with the help of generators during power cuts, the diesel shortage in the market is sure to affect them.
"Mechanical equipments and expensive instruments easily get depreciated and this affects the service of hospitals," said Dr Bhola Rijal, president of private health institution. The day is not too far when the hospital services will remain halted if this situation continues, he said. Dr Rijal said the government should consider providing an alternate source of electricity to the private health institutions.
Shankar Oxygen Plant, which had supplied 600 oxygen cylinders a day on an average to the hospitals and nursing homes, just supplied 150 cylinders today. "We received 4,000 litres of diesel through the Ministry of Health and Population. We think the stock would not last after a month," said Prakash Agrawal, employee of the plant.
Intervew: ‘Nepal’s pharmaceutical market is worth Rs 10b’
Intervew: ‘Nepal’s pharmaceutical market is worth Rs 10b’
eKantipur.com, 17-Feb-08
Umesh Lal Shrestha is managing director of Quest Pharmaceutical, one of the leading drug producing companies in Nepal. A science graduate, Shrestha has been involved in this sector for more than three decades. He is also the current president of the Association of Pharmaceutical Producers of Nepal (APPON). In an interview with the Post, Shrestha talked about the present status of the pharmaceutical sector and its prospects in Nepal. Excerpts:
Tell us about Quest's performance.
Quest is one of the leading pharmaceutical companies in the country. It is growing at an annual rate of 15 percent. Quest is also a pioneer producer of specialized products in Nepal like drugs used to treat heart disease, blood pressure and diabetes. The company was established seven years ago, and presently employs a staff of more than 150 persons. We believe in innovation and ethical marketing. Over the last seven years, our investment has doubled from Rs 50 million to Rs 100 million.
How is the sector expanding in Nepal?
There are 40 pharmaceutical companies in Nepal at present. Likewise, the size of the pharmaceutical market has crossed Rs 10 billion. This sector has made a huge leap forward over the period of the last two decades, but we still depend on imports to fulfill more than 60 percent of the total national drug requirement. Investments in the pharmaceutical industry have swelled to around Rs 5 billion. The overall market for pharmaceutical products is growing by around 13 percent annually. However, competition among the producers is very intense, and that has depressed the rate of return for the companies.
How does APPON assess the government's policies?
The government's Drug Act has become obsolete. It should be amended as per the changing situation in order to encourage Nepali pharmaceutical producers. The government should provide different incentives like tax exemptions and other rebates to indigenous producers. The government should learn from the success of Bangladesh, which has emerged as one of the leading exporters of pharmaceutical products by expanding its market to more than 92 countries. We can also reach international markets like Bangladesh has done, but developing this sector does not figure in our government's list of priorities. The government should establish a Special Economic Zone for the pharmaceutical sector and provide electricity and water at concessionary rates.
Can Nepal really export pharmaceutical products to the international market?
Yes, it can. Our labor cost is low, and the customs duty imposed on raw materials is less than in other countries. That places us in an advantageous position. There are 100 countries in the world that do not manufacture any medicinal drugs. That market represents a huge potential for our industry to tap. Of course, we need modern technology and skilled manpower to increase our competitiveness in the international market. But with the right mix of policy support and investment and technology, we can overcome this constraint. If we realign our focus and garner state priority, Nepal has ample scope to export medicines.
How sensitive are domestic producers about making medicines more accessible to poor people?
We are providing more than 20 medicines, which are used to treat common diseases, at nominal rates. Our efforts so far have remained insufficient because imported medicines are mostly sold at higher prices. Our efforts alone will not be sufficient if the government continues to turn a deaf ear to this issue. Government support is crucial to bring down the cost of production.
APPON organized the second Pharma Expo 2008 on Saturday and Sunday. How did the event go?
It was successful in terms of meeting the objectives, which was to inform entrepreneurs and the public about the latest technologies and products available in the international market. A total of 43 foreign and 32 local companies were active participants in the two-day fair. Products worth Rs 100 million were traded. More than 5,000 people visited the expo, which was far more than our initial estimate of 3,000 visitors.
What are your future plans?
As a leading pharmaceutical producer, we will continue to focus on innovation and come up with new products in the future. We have recently introduced Methyl Cobalimine, a vitamin which is a specialized product. We are penetrating South Asian markets and countries of the former Soviet Union as part of our plan to explore international markets. We are also developing skilled manpower through different training and specialized courses in and outside the country.
eKantipur.com, 17-Feb-08
Umesh Lal Shrestha is managing director of Quest Pharmaceutical, one of the leading drug producing companies in Nepal. A science graduate, Shrestha has been involved in this sector for more than three decades. He is also the current president of the Association of Pharmaceutical Producers of Nepal (APPON). In an interview with the Post, Shrestha talked about the present status of the pharmaceutical sector and its prospects in Nepal. Excerpts:
Tell us about Quest's performance.
Quest is one of the leading pharmaceutical companies in the country. It is growing at an annual rate of 15 percent. Quest is also a pioneer producer of specialized products in Nepal like drugs used to treat heart disease, blood pressure and diabetes. The company was established seven years ago, and presently employs a staff of more than 150 persons. We believe in innovation and ethical marketing. Over the last seven years, our investment has doubled from Rs 50 million to Rs 100 million.
How is the sector expanding in Nepal?
There are 40 pharmaceutical companies in Nepal at present. Likewise, the size of the pharmaceutical market has crossed Rs 10 billion. This sector has made a huge leap forward over the period of the last two decades, but we still depend on imports to fulfill more than 60 percent of the total national drug requirement. Investments in the pharmaceutical industry have swelled to around Rs 5 billion. The overall market for pharmaceutical products is growing by around 13 percent annually. However, competition among the producers is very intense, and that has depressed the rate of return for the companies.
How does APPON assess the government's policies?
The government's Drug Act has become obsolete. It should be amended as per the changing situation in order to encourage Nepali pharmaceutical producers. The government should provide different incentives like tax exemptions and other rebates to indigenous producers. The government should learn from the success of Bangladesh, which has emerged as one of the leading exporters of pharmaceutical products by expanding its market to more than 92 countries. We can also reach international markets like Bangladesh has done, but developing this sector does not figure in our government's list of priorities. The government should establish a Special Economic Zone for the pharmaceutical sector and provide electricity and water at concessionary rates.
Can Nepal really export pharmaceutical products to the international market?
Yes, it can. Our labor cost is low, and the customs duty imposed on raw materials is less than in other countries. That places us in an advantageous position. There are 100 countries in the world that do not manufacture any medicinal drugs. That market represents a huge potential for our industry to tap. Of course, we need modern technology and skilled manpower to increase our competitiveness in the international market. But with the right mix of policy support and investment and technology, we can overcome this constraint. If we realign our focus and garner state priority, Nepal has ample scope to export medicines.
How sensitive are domestic producers about making medicines more accessible to poor people?
We are providing more than 20 medicines, which are used to treat common diseases, at nominal rates. Our efforts so far have remained insufficient because imported medicines are mostly sold at higher prices. Our efforts alone will not be sufficient if the government continues to turn a deaf ear to this issue. Government support is crucial to bring down the cost of production.
APPON organized the second Pharma Expo 2008 on Saturday and Sunday. How did the event go?
It was successful in terms of meeting the objectives, which was to inform entrepreneurs and the public about the latest technologies and products available in the international market. A total of 43 foreign and 32 local companies were active participants in the two-day fair. Products worth Rs 100 million were traded. More than 5,000 people visited the expo, which was far more than our initial estimate of 3,000 visitors.
What are your future plans?
As a leading pharmaceutical producer, we will continue to focus on innovation and come up with new products in the future. We have recently introduced Methyl Cobalimine, a vitamin which is a specialized product. We are penetrating South Asian markets and countries of the former Soviet Union as part of our plan to explore international markets. We are also developing skilled manpower through different training and specialized courses in and outside the country.
Meager oil volume enters Kathmandu
Meager oil volume enters Kathmandu
eKantipur.com,17-Feb-08
Banda in tarai brought imports of petroleum products through Raxaul, the largest import point, to a grinding halt for the fifth straight day.
While that prevented replenishment of the stock, Nepal Oil Corporation (NOC), with just about a day's supply in store, distributed meager volume of fuel in the market.
NOC Director Madhav Dhungel told the Post that the corporation distributed a mere 60,000 liters of petrol, 128,000 of diesel and 12,000 liters of kerosene in the Valley Sunday.
"The distribution had become possible only after the corporation received fuel consignments from Amlekhgunj and Bhairahawa," he told the Post.
Except the four dealers who used their tankers to transfer the stock and thus won half the volume of consignment as the government had committed, all the supply was made to the security agencies' and Sajha petrol pumps.
Barring those four private dealers, all private sector operated dealers remained dry and closed throughout the day. The situation prevailed in almost all parts of the country.
Long queues were visible at public refilling stations, while the number of vehicles, particularly passenger vehicles plying on the roads has also gone down substantially. Shortage of cooking gas and kerosene - common household fuels - has seriously hit general consumers.
On the day, NOC had received 60,000 liters of petrol, 128,000 liters of diesel and 36,000 from Amlekhgunj and Thankot. "Efforts are on to bring in more fuel from Bhairahawa and make additional imports from Mugalsarai depot of Indian Oil Corporation (IOC)," said Dhungel.
Officials stated that although the Commerce Minister himself was leading the talks, owners of some 250 tankers operating along Amlekhgunj-Raxaul route continued to refuse to ply their vehicles, citing personal threats received by owners and risks faced by the staff.
Drivers of about half dozen tankers, which were escorted towards Raxaul from Amlekhgunj, absconded at Parwanipur after agitating groups got into a scuffle with security forces on Saturday.
eKantipur.com,17-Feb-08
Banda in tarai brought imports of petroleum products through Raxaul, the largest import point, to a grinding halt for the fifth straight day.
While that prevented replenishment of the stock, Nepal Oil Corporation (NOC), with just about a day's supply in store, distributed meager volume of fuel in the market.
NOC Director Madhav Dhungel told the Post that the corporation distributed a mere 60,000 liters of petrol, 128,000 of diesel and 12,000 liters of kerosene in the Valley Sunday.
"The distribution had become possible only after the corporation received fuel consignments from Amlekhgunj and Bhairahawa," he told the Post.
Except the four dealers who used their tankers to transfer the stock and thus won half the volume of consignment as the government had committed, all the supply was made to the security agencies' and Sajha petrol pumps.
Barring those four private dealers, all private sector operated dealers remained dry and closed throughout the day. The situation prevailed in almost all parts of the country.
Long queues were visible at public refilling stations, while the number of vehicles, particularly passenger vehicles plying on the roads has also gone down substantially. Shortage of cooking gas and kerosene - common household fuels - has seriously hit general consumers.
On the day, NOC had received 60,000 liters of petrol, 128,000 liters of diesel and 36,000 from Amlekhgunj and Thankot. "Efforts are on to bring in more fuel from Bhairahawa and make additional imports from Mugalsarai depot of Indian Oil Corporation (IOC)," said Dhungel.
Officials stated that although the Commerce Minister himself was leading the talks, owners of some 250 tankers operating along Amlekhgunj-Raxaul route continued to refuse to ply their vehicles, citing personal threats received by owners and risks faced by the staff.
Drivers of about half dozen tankers, which were escorted towards Raxaul from Amlekhgunj, absconded at Parwanipur after agitating groups got into a scuffle with security forces on Saturday.
Fuel crunch forces schools to shutdown
Fuel crunch forces schools to shutdown
eKantipur.com, 18-Feb-08
More than a dozen schools have been forced to close down in the capital on Monday due to the crisis in petroleum products.
15 schools of Kathmandu and Lalitpur including Little Angles School, Gyanodaya Bal Batika School, Ideal Model School and GEMS have been forced to shut down.
According to Vice President of Private And Boarding School’s Organisation Of Nepal (PABSON) Lakshya Bahadur KC, the schools could not run schools buses to ferry the students from their homes because of the fuel crisis that has swept the capital.
The entire schools in the capital will be forced to close down from Tuesday if the situation does not improve, he added.
PABSON expressed serious concern over the government’s negligence to the current crisis which has led to schools being shut.
Urging the government for smooth supply of petroleum products, the PABSON has demanded an alternative arrangement to the current fuel supply system.
The government on Friday had assured that normal supply of petroleum products will resume in the capital from Saturday after talks with fuel tanker operators.
The crisis has worsened and the number of vehicles plying the streets in the capital has significantly thinned.
eKantipur.com, 18-Feb-08
More than a dozen schools have been forced to close down in the capital on Monday due to the crisis in petroleum products.
15 schools of Kathmandu and Lalitpur including Little Angles School, Gyanodaya Bal Batika School, Ideal Model School and GEMS have been forced to shut down.
According to Vice President of Private And Boarding School’s Organisation Of Nepal (PABSON) Lakshya Bahadur KC, the schools could not run schools buses to ferry the students from their homes because of the fuel crisis that has swept the capital.
The entire schools in the capital will be forced to close down from Tuesday if the situation does not improve, he added.
PABSON expressed serious concern over the government’s negligence to the current crisis which has led to schools being shut.
Urging the government for smooth supply of petroleum products, the PABSON has demanded an alternative arrangement to the current fuel supply system.
The government on Friday had assured that normal supply of petroleum products will resume in the capital from Saturday after talks with fuel tanker operators.
The crisis has worsened and the number of vehicles plying the streets in the capital has significantly thinned.
Wednesday, February 13, 2008
Company of the Month: Nabil Bank
Company of the Month: Nabil Bank
Nabil goes rural
It’s not just profits that is driving Nepal’s first joint venture bank to venture out to the villages
NepaliTimes, Issue #384 (25-Jan-08 to 31-Jan-08)
When Nabil Bank opened in 1984, it was the first foreign joint venture in Nepal’s banking sector and enjoyed first player advantage. But it didn’t last. Soon, there were other multinationals: Grindlays and Indosuez overtook Nabil.
Nabil had transformed the way banking was done, providing a breath of fresh air for those used to the shoddy and indifferent service at the public sector banks. But by the 1990s there were others who offered the same service.
Nabil didn’t exactly go into decline, but it seemed to have lost direction. That was when the board decided to make some course corrections and one part of that effort was to induct management talent from India. Then, three years ago, it brought in Anil Shah, the man who pioneered consumer banking at Standard Chartered. It turned out to be the right decision at the right time.
Shah has gone about systematically re-inventing the Nabil brand, overhauling everything from the mission statement to giving the bank a new strategic direction in rural banking.
“We didn’t want to be an also-ran,” Shah said in an interview this week after Nabil was selected as the Nepali Times Company of the Month for January. “We brainstormed about what we wanted to be and everyone agreed we had to be Nepal’s bank of first choice.”
Indeed, ‘Nepal’s Bank of 1st Choice’ has now become Nabil’s slogan and was the product of an exercise to draft a new mission statement that involved the entire staff.
”Everyone participated in the process, so it is a vision that we all own. Our mission statement is not a destination, it is a journey,” says Shah listing the bank’s stakeholders: customers, shareholders, regulators, the community and staffers.
Besides being profitable and efficient, Nabil wants to be a model for transparency among Nepali banks and has tried to go beyond tokenism in its corporate social responsibility credo by sponsoring female literacy programs and a glaucoma initiative at Tilganga Hospital. Staffers, who call themselves ‘Nabilians’, say there is a greater sense of team spirit in company in the past three years and there is a realization that their company has a goal beyond day-to-day banking to contribute to the nation’s economy and to serve the community.
Some of Shah’s acronyms seem to come straight out of the formula of management gurus. For example, for staffers he has simplified corporate goals into CRISP where C is for ‘corporate focussed’, R is for ‘result oriented’, I is for ‘innovations’, S for ‘synergy’ and P for ‘professional’. The team-building is showing dramatic results in the bottom line. Nabil shares have soared from Rs 815 in 2005 to Rs 4400 today. Net profits are up by 48 percent.
Nabil’s management has tried to find the middle ground between the efficiency of a multinational joint venture and a Nepali bank. This hybrid formula, they hope, will position the bank to adjust to the post-2010 era from when foreign banks will be allowed in without restrictions according to a WTO membership timetable. Nabil has taken a strategic decision to target rural customers. Among the reasons is a crowded urban market, the injection of remittance money into the countryside, and the fact that the default rate is virtually zero in the districts.
Two months ago, the bank launched the first phase of its rural banking drive by opening a dozen new semi-urban branches in the districts. By next year, Nabil will have 30 branches in even more remote areas. “Of Nepal’s 27 million people 20 million live in rural areas, you can’t be a national bank by ignoring that,” says Shah, who admits he got the inspiration from Maoist leader Pushpa Kamal Dahal who was asked by journalists after joining the peace process if he’d ever go back to the jungle. “We were never in the jungle, we were in the real Nepal,” Dahal had said.
Shah says it is not enough in a country like Nepal for banks to be profitable and pay taxes. “There is a higher calling, we have to ask ourselves, are we helping make a difference. And the way we do that is by taking financial services to rural areas and make that a catalyst for economic growth and employment generation,” says Shah. “In 1984, Nabil brought international banking to Kathmandu. In 2007 we took banking to rural Nepal.”
Nabil goes rural
It’s not just profits that is driving Nepal’s first joint venture bank to venture out to the villages
NepaliTimes, Issue #384 (25-Jan-08 to 31-Jan-08)
When Nabil Bank opened in 1984, it was the first foreign joint venture in Nepal’s banking sector and enjoyed first player advantage. But it didn’t last. Soon, there were other multinationals: Grindlays and Indosuez overtook Nabil.
Nabil had transformed the way banking was done, providing a breath of fresh air for those used to the shoddy and indifferent service at the public sector banks. But by the 1990s there were others who offered the same service.
Nabil didn’t exactly go into decline, but it seemed to have lost direction. That was when the board decided to make some course corrections and one part of that effort was to induct management talent from India. Then, three years ago, it brought in Anil Shah, the man who pioneered consumer banking at Standard Chartered. It turned out to be the right decision at the right time.
Shah has gone about systematically re-inventing the Nabil brand, overhauling everything from the mission statement to giving the bank a new strategic direction in rural banking.
“We didn’t want to be an also-ran,” Shah said in an interview this week after Nabil was selected as the Nepali Times Company of the Month for January. “We brainstormed about what we wanted to be and everyone agreed we had to be Nepal’s bank of first choice.”
Indeed, ‘Nepal’s Bank of 1st Choice’ has now become Nabil’s slogan and was the product of an exercise to draft a new mission statement that involved the entire staff.
”Everyone participated in the process, so it is a vision that we all own. Our mission statement is not a destination, it is a journey,” says Shah listing the bank’s stakeholders: customers, shareholders, regulators, the community and staffers.
Besides being profitable and efficient, Nabil wants to be a model for transparency among Nepali banks and has tried to go beyond tokenism in its corporate social responsibility credo by sponsoring female literacy programs and a glaucoma initiative at Tilganga Hospital. Staffers, who call themselves ‘Nabilians’, say there is a greater sense of team spirit in company in the past three years and there is a realization that their company has a goal beyond day-to-day banking to contribute to the nation’s economy and to serve the community.
Some of Shah’s acronyms seem to come straight out of the formula of management gurus. For example, for staffers he has simplified corporate goals into CRISP where C is for ‘corporate focussed’, R is for ‘result oriented’, I is for ‘innovations’, S for ‘synergy’ and P for ‘professional’. The team-building is showing dramatic results in the bottom line. Nabil shares have soared from Rs 815 in 2005 to Rs 4400 today. Net profits are up by 48 percent.
Nabil’s management has tried to find the middle ground between the efficiency of a multinational joint venture and a Nepali bank. This hybrid formula, they hope, will position the bank to adjust to the post-2010 era from when foreign banks will be allowed in without restrictions according to a WTO membership timetable. Nabil has taken a strategic decision to target rural customers. Among the reasons is a crowded urban market, the injection of remittance money into the countryside, and the fact that the default rate is virtually zero in the districts.
Two months ago, the bank launched the first phase of its rural banking drive by opening a dozen new semi-urban branches in the districts. By next year, Nabil will have 30 branches in even more remote areas. “Of Nepal’s 27 million people 20 million live in rural areas, you can’t be a national bank by ignoring that,” says Shah, who admits he got the inspiration from Maoist leader Pushpa Kamal Dahal who was asked by journalists after joining the peace process if he’d ever go back to the jungle. “We were never in the jungle, we were in the real Nepal,” Dahal had said.
Shah says it is not enough in a country like Nepal for banks to be profitable and pay taxes. “There is a higher calling, we have to ask ourselves, are we helping make a difference. And the way we do that is by taking financial services to rural areas and make that a catalyst for economic growth and employment generation,” says Shah. “In 1984, Nabil brought international banking to Kathmandu. In 2007 we took banking to rural Nepal.”
Bumper harvest brings vegetable prices down
Bumper harvest brings vegetable prices down
eKantipur.com, 12-Feb-08
The prices of major vegetables have plunged over the last two months following abundant harvests. Traders and officials attribute the cheaper rates to bumper production and increased deliveries of fresh produce.
According to Binaya Shrestha, planning officer at the Kalimati Fruits and Vegetables Market Development Board, incoming shipments of vegetables at the Kalimati marketplace has shot up to 700 tons per day from 150 tons during the normal season.
“This is the peak season for harvesting vegetables. Besides, farmers are growing more vegetables than before,” Shrestha told the Post. “Vegetable growing districts are exporting their fresh produce in large quantities, and it has caused the supply to go up,” he added.
The data prepared by the board shows that the prices of red and white potatoes have gone down to Rs 11 and Rs 10 per kg respectively from Rs 14 two months ago. Onions are selling for Rs 12 per kg, down from Rs 18.
Bharat Upreti, a wholesaler of potatoes and onions at Kalimati, said that increased production in the key vegetable growing districts like Kabhre was the reason behind the deluge of potatoes in the marketplace.
According to Upreti, the districts of Kabhre, Bara and Parsa are the dominant producers of potatoes, with Kabhre accounting for more than 70 percent of the supply in Kathmandu. However, all the onions sold in the local market are imported from India. “The continuing decline in the price of onions in India means that the vegetable has become cheaper here as India fulfills more than 98 percent of Nepal's requirement,” Upreti said.
Traders said that around 40 tons of onions and 200 tons of potatoes were arriving in the marketplace daily.
Carrots and cabbages have also become cheaper. They are selling for Rs 16 and Rs 7 per kg compared to Rs 27 and Rs 9 two months earlier. Likewise, the prices of local cauliflower and tarai cauliflower have come down to Rs 20 and Rs 13 per kg.
Traders say that potatoes, cauliflowers and cabbages will become cheaper yet as production will continue to go up for the next few months.
However, tomatoes are a little more expensive this season because of a poor harvest. According to the board's data, the prices of big and small tomatoes have increased to Rs 20 per kg from Rs 19 and Rs 14 two month ago.
eKantipur.com, 12-Feb-08
The prices of major vegetables have plunged over the last two months following abundant harvests. Traders and officials attribute the cheaper rates to bumper production and increased deliveries of fresh produce.
According to Binaya Shrestha, planning officer at the Kalimati Fruits and Vegetables Market Development Board, incoming shipments of vegetables at the Kalimati marketplace has shot up to 700 tons per day from 150 tons during the normal season.
“This is the peak season for harvesting vegetables. Besides, farmers are growing more vegetables than before,” Shrestha told the Post. “Vegetable growing districts are exporting their fresh produce in large quantities, and it has caused the supply to go up,” he added.
The data prepared by the board shows that the prices of red and white potatoes have gone down to Rs 11 and Rs 10 per kg respectively from Rs 14 two months ago. Onions are selling for Rs 12 per kg, down from Rs 18.
Bharat Upreti, a wholesaler of potatoes and onions at Kalimati, said that increased production in the key vegetable growing districts like Kabhre was the reason behind the deluge of potatoes in the marketplace.
According to Upreti, the districts of Kabhre, Bara and Parsa are the dominant producers of potatoes, with Kabhre accounting for more than 70 percent of the supply in Kathmandu. However, all the onions sold in the local market are imported from India. “The continuing decline in the price of onions in India means that the vegetable has become cheaper here as India fulfills more than 98 percent of Nepal's requirement,” Upreti said.
Traders said that around 40 tons of onions and 200 tons of potatoes were arriving in the marketplace daily.
Carrots and cabbages have also become cheaper. They are selling for Rs 16 and Rs 7 per kg compared to Rs 27 and Rs 9 two months earlier. Likewise, the prices of local cauliflower and tarai cauliflower have come down to Rs 20 and Rs 13 per kg.
Traders say that potatoes, cauliflowers and cabbages will become cheaper yet as production will continue to go up for the next few months.
However, tomatoes are a little more expensive this season because of a poor harvest. According to the board's data, the prices of big and small tomatoes have increased to Rs 20 per kg from Rs 19 and Rs 14 two month ago.
Banks raise loan rates, Deposit rates go up too
Banks raise loan rates, Deposit rates go up too
eKantipur.com, 12-Feb-08
Krishna Regmi
The days of cheaper auto, housing, personal and other loans are, sadly, over.
Those who are planning to borrow and who have already borrowed must stand ready to fork out more money and readjust their financial planning.
The average lending rate in the banking sector has edged up by 1 to 2 percent, while interest rates on fixed deposits have gone up by 1 to 3 percent, said Radhesh Pant, president of Nepal Bankers' Association.
Nabil Bank has already raised the lending rate in consumer financing to 8 percent, up from 6.5 percent.
Anil Shah, chief executive officer at Nabil said, "To collect savings to match the rising demand for money, we have begun offering 6.5 to 7 percent interest rates on fixed deposits of six months and above."
It was 3 to 3.5 percent earlier. While the bank has revised fixed deposit rates upward, Shah said it will increase rates in other types of deposits gradually.
Borrowers have begun to feel the pinch. Sashi Tulachan, a resident of Tikhediwal, was arranging money to pay the first installment on an auto loan when she was notified that her installment has risen because of recent upward movement in the lending rate.
"To my surprise and dismay, I received a document from Nabil Bank, asking me to sign a new contractual agreement which raises my lending rate to 7.5 percent," she said. "I had just recently bought a vehicle with loan at 6 percent interest."
She said she felt unhappy, but signed the agreement as she did not have any other option. "Working people like me have to prepare financial planning in advance. Any abrupt change will impact my budget," she said.
The revision in interest rates is due to the growing liquidity crunch in the banking sector. Discount rate on 91-day treasury bills (T-bills) reached 6.16 percent at Monday's auction. It was just 2 percent last September. Another strong indicator of stretched liquidity is the rising inter-bank lending rate, which is hovering over 8 percent, up from 3.5 percent in mid-July.
Pant said the liquidity shortage will accelerate as Nepal Telecom and Nepal Electricity are issuing shares and bonds while Nepal Oil Corporation is also in the process of doing likewise, to raise over 14 billion rupees. "The days for cheap loans are certainly over," he said.
Sensing that a liquidity crisis may creep in, he said NBA has written to the central bank to take necessary measures to inject more funds into the banking system.
Nepal Rastra Bank has already injected over five billion rupees into the system in the past one month to stave off the liquidity crisis. On the impact of the economy, Pant said the rising interest rate would discourage capital flight.
"Likewise, it would encourage savings, which could be channelled toward productive investment," he said.
eKantipur.com, 12-Feb-08
Krishna Regmi
The days of cheaper auto, housing, personal and other loans are, sadly, over.
Those who are planning to borrow and who have already borrowed must stand ready to fork out more money and readjust their financial planning.
The average lending rate in the banking sector has edged up by 1 to 2 percent, while interest rates on fixed deposits have gone up by 1 to 3 percent, said Radhesh Pant, president of Nepal Bankers' Association.
Nabil Bank has already raised the lending rate in consumer financing to 8 percent, up from 6.5 percent.
Anil Shah, chief executive officer at Nabil said, "To collect savings to match the rising demand for money, we have begun offering 6.5 to 7 percent interest rates on fixed deposits of six months and above."
It was 3 to 3.5 percent earlier. While the bank has revised fixed deposit rates upward, Shah said it will increase rates in other types of deposits gradually.
Borrowers have begun to feel the pinch. Sashi Tulachan, a resident of Tikhediwal, was arranging money to pay the first installment on an auto loan when she was notified that her installment has risen because of recent upward movement in the lending rate.
"To my surprise and dismay, I received a document from Nabil Bank, asking me to sign a new contractual agreement which raises my lending rate to 7.5 percent," she said. "I had just recently bought a vehicle with loan at 6 percent interest."
She said she felt unhappy, but signed the agreement as she did not have any other option. "Working people like me have to prepare financial planning in advance. Any abrupt change will impact my budget," she said.
The revision in interest rates is due to the growing liquidity crunch in the banking sector. Discount rate on 91-day treasury bills (T-bills) reached 6.16 percent at Monday's auction. It was just 2 percent last September. Another strong indicator of stretched liquidity is the rising inter-bank lending rate, which is hovering over 8 percent, up from 3.5 percent in mid-July.
Pant said the liquidity shortage will accelerate as Nepal Telecom and Nepal Electricity are issuing shares and bonds while Nepal Oil Corporation is also in the process of doing likewise, to raise over 14 billion rupees. "The days for cheap loans are certainly over," he said.
Sensing that a liquidity crisis may creep in, he said NBA has written to the central bank to take necessary measures to inject more funds into the banking system.
Nepal Rastra Bank has already injected over five billion rupees into the system in the past one month to stave off the liquidity crisis. On the impact of the economy, Pant said the rising interest rate would discourage capital flight.
"Likewise, it would encourage savings, which could be channelled toward productive investment," he said.
Tuesday, February 12, 2008
Power bonds to be floated
Power bonds to be floated
Nepalnews.com, 11-Feb-08
The Nepal Electricity Authority (NEA) is preparing to float power bonds worth Rs 1.5 billion to raise domestic capital for investment in hydropower projects.
The bonds will be offered from Thursday and the money raised will be used in funding Chameliya (30 MW), Kulekhani III (14 MW) and under-construction Middle Marsyangdi projects (70 MW). The former two projects are being constructed with NEA’s internal resources alone.
According to NEA, 1.5 million bonds worth Rs 1000 each will be offered for the public. In second phase, the NEA plans to issue additional bonds worth Rs 1.5 billion.
Of the total bonds, 150,000 will be sold to general public and the remaining 13,50,000 will be sold to institutions and individuals.
The maturity period of these bonds will be five years and the interest rate has been fixed at seven. Interest will be paid every six months.
Meanwhile, Minister for Water Resources Gyanendra Bahadur Karki has formed a panel to study and recommend ways to overcome load-shedding. The panel is headed by Deep Kumar Upadhyaya, general manager of Customers Services Department at NEA. It includes representatives from private sector, as well.
Nepalnews.com, 11-Feb-08
The Nepal Electricity Authority (NEA) is preparing to float power bonds worth Rs 1.5 billion to raise domestic capital for investment in hydropower projects.
The bonds will be offered from Thursday and the money raised will be used in funding Chameliya (30 MW), Kulekhani III (14 MW) and under-construction Middle Marsyangdi projects (70 MW). The former two projects are being constructed with NEA’s internal resources alone.
According to NEA, 1.5 million bonds worth Rs 1000 each will be offered for the public. In second phase, the NEA plans to issue additional bonds worth Rs 1.5 billion.
Of the total bonds, 150,000 will be sold to general public and the remaining 13,50,000 will be sold to institutions and individuals.
The maturity period of these bonds will be five years and the interest rate has been fixed at seven. Interest will be paid every six months.
Meanwhile, Minister for Water Resources Gyanendra Bahadur Karki has formed a panel to study and recommend ways to overcome load-shedding. The panel is headed by Deep Kumar Upadhyaya, general manager of Customers Services Department at NEA. It includes representatives from private sector, as well.
India positive on providing Nepal 40 MW
India positive on providing Nepal 40 MW
ArthaExpress.com, 12-Feb-08
India´s Ministry of Power is positive on providing Nepal 40 megawatt (MW) of electricity, which Nepal Electricity Authority (NEA) is looking to import from the Duhabi-Kataiya transmission link, NEA´s Managing Director Arjun Kumar Karki said on Monday.
After India´s leading power trader PTC India Ltd told Nepal last month that it would be able to provide the northern neighbor only 15 MW of the 40 MW India had promised last year, effort was initiated at the government level to procure power.
"Indian government is ready to provide us the full forty megawatts," Karki told parliament´s Finance Committee. "We can import power from Duhabi-Kataiya transmission link," he said. Nepal is already importing 50 MW from the link based on the power exchange agreement between the two countries. Still, consumers are facing up to eight hours of daily power cuts.
On Monday, NEA also wrote to PTC India Ltd requesting it to supply 20 MW of additional power from Tanakpur. "We have found that it is technically feasible to import an additional twenty megawatts from Tanakpur," Karki said.
House panel for customs waiver on CFLs Lawmaker and Former Finance Minister Bharat Mohan Adhikari, who chaired the House panel meeting on Monday, told NEA that the panel would ask the Ministry of Finance to waive off customs on import of Compact Fluorescent Lamps (CFLs), which use only a quarter of the power used by traditional light bulbs to provide the same degree of illumination.
"We will ask the ministry to waive off customs for CFLs and also to provide a revolving fund to NEA to make consumers switch from traditional lighting bulbs to CFLs," said Adhikari.
For demand management, NEA is immediately starting distribution of leaflets to consumers, through its billing staff, explaining the benefits of CFLs as well as a scheme to allow consumers to switch to CFLs with zero initial investment.
NEA has proposed that it be provided a revolving fund of Rs 500 million so that it can buy CFLs, install them in people´s homes for free, and pay CFL suppliers in installments from consumers´ bills. Switching to CFLs will reduce electricity consumption of individual households. NEA will continue to charge consumers an average of their past electricity bills for as long as the margin between their past bills and actual consumption do not pay back all the installments of CFL.
The NEA has also asked the house panel to raise customs on power inefficient inverters, make it mandatory for factories not to operate during peak hours, and to expand the adoption of CFLs in government offices and street lamps.
Proposal to supply 250 MW to Nepal
As a longer-term solution to Nepal´s power crisis, India´s Infrastructure Leasing and Financial Services (IL&FS), which is partnering with NEA to build four high-voltage transmission highways across the Nepal-India border, recently proposed to NEA to supply up to 250 MW to Nepal from a 500 MW thermal plant it is setting up in India, Karki told the house panel.
"I Think this is a workable proposal," said Karki.However, the arrangement will come into effect only by 2010 end as it will take three years to set up the plant.
IL&FS has proposed to supply power at IRs 2 to IRs 2.50 per unit. According to NEA´s forecast, the country will face progressively worse power cuts for at least the next five years, after which projects in the pipeline are expected to start plugging the demand-supply gap.
ArthaExpress.com, 12-Feb-08
India´s Ministry of Power is positive on providing Nepal 40 megawatt (MW) of electricity, which Nepal Electricity Authority (NEA) is looking to import from the Duhabi-Kataiya transmission link, NEA´s Managing Director Arjun Kumar Karki said on Monday.
After India´s leading power trader PTC India Ltd told Nepal last month that it would be able to provide the northern neighbor only 15 MW of the 40 MW India had promised last year, effort was initiated at the government level to procure power.
"Indian government is ready to provide us the full forty megawatts," Karki told parliament´s Finance Committee. "We can import power from Duhabi-Kataiya transmission link," he said. Nepal is already importing 50 MW from the link based on the power exchange agreement between the two countries. Still, consumers are facing up to eight hours of daily power cuts.
On Monday, NEA also wrote to PTC India Ltd requesting it to supply 20 MW of additional power from Tanakpur. "We have found that it is technically feasible to import an additional twenty megawatts from Tanakpur," Karki said.
House panel for customs waiver on CFLs Lawmaker and Former Finance Minister Bharat Mohan Adhikari, who chaired the House panel meeting on Monday, told NEA that the panel would ask the Ministry of Finance to waive off customs on import of Compact Fluorescent Lamps (CFLs), which use only a quarter of the power used by traditional light bulbs to provide the same degree of illumination.
"We will ask the ministry to waive off customs for CFLs and also to provide a revolving fund to NEA to make consumers switch from traditional lighting bulbs to CFLs," said Adhikari.
For demand management, NEA is immediately starting distribution of leaflets to consumers, through its billing staff, explaining the benefits of CFLs as well as a scheme to allow consumers to switch to CFLs with zero initial investment.
NEA has proposed that it be provided a revolving fund of Rs 500 million so that it can buy CFLs, install them in people´s homes for free, and pay CFL suppliers in installments from consumers´ bills. Switching to CFLs will reduce electricity consumption of individual households. NEA will continue to charge consumers an average of their past electricity bills for as long as the margin between their past bills and actual consumption do not pay back all the installments of CFL.
The NEA has also asked the house panel to raise customs on power inefficient inverters, make it mandatory for factories not to operate during peak hours, and to expand the adoption of CFLs in government offices and street lamps.
Proposal to supply 250 MW to Nepal
As a longer-term solution to Nepal´s power crisis, India´s Infrastructure Leasing and Financial Services (IL&FS), which is partnering with NEA to build four high-voltage transmission highways across the Nepal-India border, recently proposed to NEA to supply up to 250 MW to Nepal from a 500 MW thermal plant it is setting up in India, Karki told the house panel.
"I Think this is a workable proposal," said Karki.However, the arrangement will come into effect only by 2010 end as it will take three years to set up the plant.
IL&FS has proposed to supply power at IRs 2 to IRs 2.50 per unit. According to NEA´s forecast, the country will face progressively worse power cuts for at least the next five years, after which projects in the pipeline are expected to start plugging the demand-supply gap.
Household food stocks down to half in 38 districts
Household food stocks down to half in 38 districts
eKantipur.com, 11-Feb-08
BY PRABHAKAR GHIMIRE
Nepalis are already reeling under the rising prices of essential commodities, chiefly foodstuff. Worse lies ahead: Food, mainly food grain, is becoming scarce even at higher prices.
This could be a serious problem for a food-deficit country. International agencies, local officials and business persons acknowledge the looming crisis.
The Food Security Monitoring and Analysis System of the World Food Program (WFP) has reported that average household food stocks have gone down by half in 38 districts in the last three months (November 2007 to January 2008) compared to the same period a year earlier.
Increasing food prices mean that household stocks will be further strained in the next few months when recent harvests will have been consumed.
"The situation is very critical, particularly for the extreme poor who make up about 15 percent of the total population," said the WFP report, which estimates that around 3.8 million people will suffer greatly.
The crisis is looming large, said Richard F Ragan, country director of WFP-Nepal, who attributed the problem to factors like India's export ban on non-basmati rice, meager rise in domestic rice production and an unprecedented increase in international food prices. Nepal relies heavily on imports from India, which meet about half its total rice requirements.
"March, April, May and June will be the toughest months, as household stocks with the poor will be exhausted by then," Ragan added.
This shortage will be compounded by disruption in transportation (due to strikes and the tarai unrest) and lack of access to markets will also prevent many from being able to buy.
"Indications are that the tarai, a major production hub of the country, will also witness food shortages, unlike in previous years when the scarcity was limited to hilly regions," said Ragan.
Ministry of Agriculture data shows that the production of summer paddy will be higher by 17 percent this year. Even then, the cutoff of food shipments from India has caused prices to go up by 15 percent over the past few months.
"It signals a trend of increasing prices until the next harvest," the WFP report says, adding that once the old stocks in the market are exhausted, prices are expected to rise substantially.
Ganga Bishan Rathi, central vice president of Nepal Rice, Oil and Pulse Producers' Association, said that with rice stocks already running low, Nepal is going to witness a further rise in prices by at least 20 percent in the months ahead.
Recent WFP and FAO reports show that rice prices in the mountains are already 177 percent higher than in the tarai.
Food expert Bhola Man Singh Basnet said that Nepal needed a "food security mission" to increase food production and productivity as a way of dealing with the situation.
Although ambitious plans like food security banks have been mooted at the South Asian level they seem to be just an academic exercise with implementation nowhere in sight.
Beni Bahadur Rawal, general manager of the state-owned Nepal Food Corporation (NFC) - which has 15,000 tons of rice in stock - said that the corporation planned to buy an additional 20,000 tons against the expected crisis.
However, with the shortage already affecting rice mills and other producers, officials are skeptical the corporation will be able to make the procurement.
WFP has also warned about the possible consequences of the food shortage: It will force a large number of poor Nepalis to leave their villages and head for India to work as laborers. "Daily wage earners and low-end workers will be the most affected groups," said Ragan.
In the face of the rising prices, Nepali is raising the issue at the 31st governing council meeting of the International Fund for Agriculture Development (IFAD) which is being held this week in Rome, Italy, said Hari Dahal, spokesperson of the Ministry of Agriculture.
Food shortage and consequent rise in prices are however a global problem today. The International Rice Research Institute, the Manila-based global body, reported that worldwide food stocks were down to 143 million tons in 2007, the lowest in 25 years due to the worldwide effects of floods, drought and global warming. The Food and Agriculture Organization (FAO) has also cautioned that lower food stocks and rising prices would mainly hit the least developed countries.
eKantipur.com, 11-Feb-08
BY PRABHAKAR GHIMIRE
Nepalis are already reeling under the rising prices of essential commodities, chiefly foodstuff. Worse lies ahead: Food, mainly food grain, is becoming scarce even at higher prices.
This could be a serious problem for a food-deficit country. International agencies, local officials and business persons acknowledge the looming crisis.
The Food Security Monitoring and Analysis System of the World Food Program (WFP) has reported that average household food stocks have gone down by half in 38 districts in the last three months (November 2007 to January 2008) compared to the same period a year earlier.
Increasing food prices mean that household stocks will be further strained in the next few months when recent harvests will have been consumed.
"The situation is very critical, particularly for the extreme poor who make up about 15 percent of the total population," said the WFP report, which estimates that around 3.8 million people will suffer greatly.
The crisis is looming large, said Richard F Ragan, country director of WFP-Nepal, who attributed the problem to factors like India's export ban on non-basmati rice, meager rise in domestic rice production and an unprecedented increase in international food prices. Nepal relies heavily on imports from India, which meet about half its total rice requirements.
"March, April, May and June will be the toughest months, as household stocks with the poor will be exhausted by then," Ragan added.
This shortage will be compounded by disruption in transportation (due to strikes and the tarai unrest) and lack of access to markets will also prevent many from being able to buy.
"Indications are that the tarai, a major production hub of the country, will also witness food shortages, unlike in previous years when the scarcity was limited to hilly regions," said Ragan.
Ministry of Agriculture data shows that the production of summer paddy will be higher by 17 percent this year. Even then, the cutoff of food shipments from India has caused prices to go up by 15 percent over the past few months.
"It signals a trend of increasing prices until the next harvest," the WFP report says, adding that once the old stocks in the market are exhausted, prices are expected to rise substantially.
Ganga Bishan Rathi, central vice president of Nepal Rice, Oil and Pulse Producers' Association, said that with rice stocks already running low, Nepal is going to witness a further rise in prices by at least 20 percent in the months ahead.
Recent WFP and FAO reports show that rice prices in the mountains are already 177 percent higher than in the tarai.
Food expert Bhola Man Singh Basnet said that Nepal needed a "food security mission" to increase food production and productivity as a way of dealing with the situation.
Although ambitious plans like food security banks have been mooted at the South Asian level they seem to be just an academic exercise with implementation nowhere in sight.
Beni Bahadur Rawal, general manager of the state-owned Nepal Food Corporation (NFC) - which has 15,000 tons of rice in stock - said that the corporation planned to buy an additional 20,000 tons against the expected crisis.
However, with the shortage already affecting rice mills and other producers, officials are skeptical the corporation will be able to make the procurement.
WFP has also warned about the possible consequences of the food shortage: It will force a large number of poor Nepalis to leave their villages and head for India to work as laborers. "Daily wage earners and low-end workers will be the most affected groups," said Ragan.
In the face of the rising prices, Nepali is raising the issue at the 31st governing council meeting of the International Fund for Agriculture Development (IFAD) which is being held this week in Rome, Italy, said Hari Dahal, spokesperson of the Ministry of Agriculture.
Food shortage and consequent rise in prices are however a global problem today. The International Rice Research Institute, the Manila-based global body, reported that worldwide food stocks were down to 143 million tons in 2007, the lowest in 25 years due to the worldwide effects of floods, drought and global warming. The Food and Agriculture Organization (FAO) has also cautioned that lower food stocks and rising prices would mainly hit the least developed countries.
Monday, February 11, 2008
Impact Of Load Shedding
Impact Of Load Shedding
Gorkhapatra, 6-Feb-08
Shanker Man Singh
Nepal in 2011 will be marking the centenary of hydropower generation. Nepal's history of producing electricity began with the Pharping hydro power plant, dating back to about a hundred years, when even China was not producing energy from water resources. In recent years, however, Nepal has become a country that is most prone to load shedding, high electricity tariffs and heavy leakages.
Dry season
The hydropower system in Nepal is dominated by run-of-the-river projects. There is only one seasonal storage project in the system. There is a shortage of power during winter and a spill during the wet season. The load factor is quite low as much of the consumption is dominated by household use. The imbalance has clearly shown the need for storage projects, and, hence, co-operation between Nepal and India is essential for the best use of the hydro resources for mutual benefit.
System loss is also one of the major issues that needs to be addressed to improve the power system, which is said to account for 25 per cent, that includes technical and non-technical losses like pilferage.
For an economy to be competitive, a product should be produced in an environment where there is uninterrupted and regular supply of electricity at low cost. Recent figures show that the Nepali private sector generates about 154 MW of energy, and the Nepal Electricity Authority (NEA) 400 MW, a total of about 554 MW. About 80 MW is in the process of being added.
Likewise, the West Seti (720 MW), Upper Karnali (300 MW), Arun III (400 MW), Tamakoshi (309 MW), Budhi Gandaki (660 MW), Likhu (125 MW) and Super Marsyangdi (275 MW) hydro projects are either awaiting approval or commissioning. All these projects in aggregate require huge investments.
During the winter season, the peak load demand for Nepal is estimated at about 720 MW whereas the production is only half the total demand. The Nepal Electricity Authority has announced further and more crippling hours of load shedding across the country. Citing a severe shortage of power as the water level in the Kulekhani reservoir is dipping dangerously and most of the other hydro power projects are operating under capacity due to the rivers drying up, the NEA has announced upto 11 hours of load shedding every day.
In recent times, the NEA, as such, has not entered into any power purchase agreement with any government or company and has instead resorted to load shedding. Project developers who had acquired licences years back have not even started building the projects.
For the development of power projects, the government and the private sector should go hand in hand. The recent initiative by the Employment Provident Fund to invest Rs. 12 billion in the Upper Tamakoshi is a welcome start. The recent revision in the Nepal Rastra Bank directives regarding the single obligator borrower limit will also be instrumental for consortium lending to hydropower generation in the days to come.
In order to finance power projects, power bonds could be a good possibility. The authorities concerned with the EIA, IEE and the banking institutions could be trained in hydropower development and be able to calculate the loss in per capita kW due to the load shedding. For this, private sector institutions like the Nepal Chamber of Commerce can take the lead, which is reflected in the recently released study formed by the Hydropower Core Group.
If we want to attract foreign direct investment in Nepal, the pricing of electricity should be done compulsorily on an annual basis. Some multilateral agencies view that the NEA and the Government of Nepal should incorporate regular tariff reviews to prepare corporate development plans. This would allow for timely signalling to the consumers about short-term increases in electricity supply costs, resulting from the impacts of long dry periods that require heavy load shedding or thermal generation that use expensive oil to meet the demand. The lack of tariff adjustment to compensate for unexpected short-term increases in electricity supply costs would also worsen the NEA's financial performance.
Energy is a much-needed central component of socio-economic development. What makes the future scenario gloomy is the current policy strategy framework. The prolonged load shedding is already taking its toll on students preparing for the annual School Leaving Certificate (SLC) and the business community. The social evils of load shedding are insurmountable.
Nepalese enterprises, businesses, communications, water-supply related services sector have also been pushed to a state of frustration due to the 48 hours of load shedding. Frequent load shedding has caused lots of problems with respect to production and increasing the productivity. This will also have a negative impact on the overall economy and the employment of the country's rural and urban youths.
Available figures by the NEA for 2005 states that there were 6,000 business customers and 22,500 industrial customers, a total of 28,500 enterprises consuming 873 GWH of energy, which is about 47 per cent of the total hydro power energy consumption in Nepal. This sector alone paid electricity bills totalling about Rs. 5.870 billion.
It is obvious that the industrial sector was using the power during the evenings and at night, contributing to the national development of the country when the demand of the general consumer is at its low and energy could not be conserved. In 2006/2007, this sector paid revenue amounting to Rs. 65 billion. Given the long hours of load shedding every day, it will have a negative impact as there will be a low supply of raw materials, which will have resultant effects on the customs, excise duty, VAT and income tax. There will be a sharp decline in the government's revenue collection from this sector.
The recent load shedding is not a new and recent phenomenon. The possible occurrence of the load shedding was known and forecast a few years back, but the government either did not care or did not have the vision to mitigate this problem. Electricity is the backbone of industrial development, and the government cannot escape from its responsibilities by giving lame excuses about the weather.
Due to the load shedding, the Birgunj-Hetauda, Morang-Sunsari industrial corridors will be particularly affected. The industries outside this sector will also be affected, causing a loss of billions of rupees to the nation in the form of non-revenue collection, unemployment and social unrest. On the one hand, the industrial sector is facing problems due to the industrial disputes, bandhs, strikes and a series of incidents in the Terai. The problem of load shedding in these areas has only aggravated the problem.
Export-oriented industries
The industries that will suffer most from load shedding and irregular supply of electricity are the export-oriented ones. Likewise, the hotel industry, information technology and communication, or ICT-based industries and services, iron and rolling mills, chemicals, plastic, jute, galvanised sheets, garments and spinning mills shall be greatly affected. It will have a long-term impact on the economic structure of these industries. Similarly, the importing country's buyers may also shift to other countries.
(to be continued)
Gorkhapatra, 6-Feb-08
Shanker Man Singh
Nepal in 2011 will be marking the centenary of hydropower generation. Nepal's history of producing electricity began with the Pharping hydro power plant, dating back to about a hundred years, when even China was not producing energy from water resources. In recent years, however, Nepal has become a country that is most prone to load shedding, high electricity tariffs and heavy leakages.
Dry season
The hydropower system in Nepal is dominated by run-of-the-river projects. There is only one seasonal storage project in the system. There is a shortage of power during winter and a spill during the wet season. The load factor is quite low as much of the consumption is dominated by household use. The imbalance has clearly shown the need for storage projects, and, hence, co-operation between Nepal and India is essential for the best use of the hydro resources for mutual benefit.
System loss is also one of the major issues that needs to be addressed to improve the power system, which is said to account for 25 per cent, that includes technical and non-technical losses like pilferage.
For an economy to be competitive, a product should be produced in an environment where there is uninterrupted and regular supply of electricity at low cost. Recent figures show that the Nepali private sector generates about 154 MW of energy, and the Nepal Electricity Authority (NEA) 400 MW, a total of about 554 MW. About 80 MW is in the process of being added.
Likewise, the West Seti (720 MW), Upper Karnali (300 MW), Arun III (400 MW), Tamakoshi (309 MW), Budhi Gandaki (660 MW), Likhu (125 MW) and Super Marsyangdi (275 MW) hydro projects are either awaiting approval or commissioning. All these projects in aggregate require huge investments.
During the winter season, the peak load demand for Nepal is estimated at about 720 MW whereas the production is only half the total demand. The Nepal Electricity Authority has announced further and more crippling hours of load shedding across the country. Citing a severe shortage of power as the water level in the Kulekhani reservoir is dipping dangerously and most of the other hydro power projects are operating under capacity due to the rivers drying up, the NEA has announced upto 11 hours of load shedding every day.
In recent times, the NEA, as such, has not entered into any power purchase agreement with any government or company and has instead resorted to load shedding. Project developers who had acquired licences years back have not even started building the projects.
For the development of power projects, the government and the private sector should go hand in hand. The recent initiative by the Employment Provident Fund to invest Rs. 12 billion in the Upper Tamakoshi is a welcome start. The recent revision in the Nepal Rastra Bank directives regarding the single obligator borrower limit will also be instrumental for consortium lending to hydropower generation in the days to come.
In order to finance power projects, power bonds could be a good possibility. The authorities concerned with the EIA, IEE and the banking institutions could be trained in hydropower development and be able to calculate the loss in per capita kW due to the load shedding. For this, private sector institutions like the Nepal Chamber of Commerce can take the lead, which is reflected in the recently released study formed by the Hydropower Core Group.
If we want to attract foreign direct investment in Nepal, the pricing of electricity should be done compulsorily on an annual basis. Some multilateral agencies view that the NEA and the Government of Nepal should incorporate regular tariff reviews to prepare corporate development plans. This would allow for timely signalling to the consumers about short-term increases in electricity supply costs, resulting from the impacts of long dry periods that require heavy load shedding or thermal generation that use expensive oil to meet the demand. The lack of tariff adjustment to compensate for unexpected short-term increases in electricity supply costs would also worsen the NEA's financial performance.
Energy is a much-needed central component of socio-economic development. What makes the future scenario gloomy is the current policy strategy framework. The prolonged load shedding is already taking its toll on students preparing for the annual School Leaving Certificate (SLC) and the business community. The social evils of load shedding are insurmountable.
Nepalese enterprises, businesses, communications, water-supply related services sector have also been pushed to a state of frustration due to the 48 hours of load shedding. Frequent load shedding has caused lots of problems with respect to production and increasing the productivity. This will also have a negative impact on the overall economy and the employment of the country's rural and urban youths.
Available figures by the NEA for 2005 states that there were 6,000 business customers and 22,500 industrial customers, a total of 28,500 enterprises consuming 873 GWH of energy, which is about 47 per cent of the total hydro power energy consumption in Nepal. This sector alone paid electricity bills totalling about Rs. 5.870 billion.
It is obvious that the industrial sector was using the power during the evenings and at night, contributing to the national development of the country when the demand of the general consumer is at its low and energy could not be conserved. In 2006/2007, this sector paid revenue amounting to Rs. 65 billion. Given the long hours of load shedding every day, it will have a negative impact as there will be a low supply of raw materials, which will have resultant effects on the customs, excise duty, VAT and income tax. There will be a sharp decline in the government's revenue collection from this sector.
The recent load shedding is not a new and recent phenomenon. The possible occurrence of the load shedding was known and forecast a few years back, but the government either did not care or did not have the vision to mitigate this problem. Electricity is the backbone of industrial development, and the government cannot escape from its responsibilities by giving lame excuses about the weather.
Due to the load shedding, the Birgunj-Hetauda, Morang-Sunsari industrial corridors will be particularly affected. The industries outside this sector will also be affected, causing a loss of billions of rupees to the nation in the form of non-revenue collection, unemployment and social unrest. On the one hand, the industrial sector is facing problems due to the industrial disputes, bandhs, strikes and a series of incidents in the Terai. The problem of load shedding in these areas has only aggravated the problem.
Export-oriented industries
The industries that will suffer most from load shedding and irregular supply of electricity are the export-oriented ones. Likewise, the hotel industry, information technology and communication, or ICT-based industries and services, iron and rolling mills, chemicals, plastic, jute, galvanised sheets, garments and spinning mills shall be greatly affected. It will have a long-term impact on the economic structure of these industries. Similarly, the importing country's buyers may also shift to other countries.
(to be continued)
Tourism in Nepal: From treks to sex
Tourism in Nepal: From treks to sex
The Economist, 24-Jan-08
Is a new sort of thrill-seeker heading for Nepal?
“I CAN only dance when I'm drunk,” confides Srijana, a 20-year-old employee of the Pussy Cat Bar and Shower, a tavern in Thamel, Kathmandu's main tourist hangout. A few slurps from a customer's glass later and she mounts a small stage. There, to whoops from a few tipsy locals, she sheds most of her clothes and gyrates to a Hindi pop tune. Dangling above her is the Damoclean sword included in the bar's name: a silver shower nozzle, positioned to spray flesh-revealing water on a dancer below.
Such gimmicks are common in Thamel's bars, where competition for lascivious males is fierce. Until a few years ago Nepal had no obvious sex industry. There are now an estimated 200 massage parlours and 35 “dance bars”, such as the Pussy Cat, in Thamel alone—with over 1,000 girls and women working in them. Many sell sex. In the Pussy Cat, another dancer admits to turning tricks, for 1,800 rupees ($28).
That is a tidy sum in Nepal, South Asia's poorest country. It is much more than Nepali women are paid in India's flesh-pots—to which over 5,000 are trafficked each year, according to the UN. But the dancers in Thamel are chasing a richer sort of Indian: tourists. And their government seems to be encouraging them. In an advertisement for “Wild Stag Weekends”, the Nepal Tourism Board offers this advice: “Don't forget to have a drink at one of the local dance bars, where beautiful Nepali belles will dance circles around your pals.”
In a country with a rich tradition of dance, where paying for sex is illegal, this might be harmless innuendo. But not everybody thinks so. During the recently-ended civil war, Nepal's Himalayan tourism industry collapsed. Some activists think that sex tourism is replacing it. According to John Frederick, an expert on South Asia's sex trade, “Ten years ago the sex industry was underground in Nepal. Now it's like Bangkok, it's like Phnom Penh.”
The war, which put much of rural Nepal under the control of Maoist insurgents, has increased the supply of sex workers. Srijana is from the poor and still violent district of Siraha in southern Nepal. She was widowed there two years ago, and left an infant son to come to the capital. Yet she is remarkably cheerful—perhaps because she is drunk, and the shower is not working.
The Economist, 24-Jan-08
Is a new sort of thrill-seeker heading for Nepal?
“I CAN only dance when I'm drunk,” confides Srijana, a 20-year-old employee of the Pussy Cat Bar and Shower, a tavern in Thamel, Kathmandu's main tourist hangout. A few slurps from a customer's glass later and she mounts a small stage. There, to whoops from a few tipsy locals, she sheds most of her clothes and gyrates to a Hindi pop tune. Dangling above her is the Damoclean sword included in the bar's name: a silver shower nozzle, positioned to spray flesh-revealing water on a dancer below.
Such gimmicks are common in Thamel's bars, where competition for lascivious males is fierce. Until a few years ago Nepal had no obvious sex industry. There are now an estimated 200 massage parlours and 35 “dance bars”, such as the Pussy Cat, in Thamel alone—with over 1,000 girls and women working in them. Many sell sex. In the Pussy Cat, another dancer admits to turning tricks, for 1,800 rupees ($28).
That is a tidy sum in Nepal, South Asia's poorest country. It is much more than Nepali women are paid in India's flesh-pots—to which over 5,000 are trafficked each year, according to the UN. But the dancers in Thamel are chasing a richer sort of Indian: tourists. And their government seems to be encouraging them. In an advertisement for “Wild Stag Weekends”, the Nepal Tourism Board offers this advice: “Don't forget to have a drink at one of the local dance bars, where beautiful Nepali belles will dance circles around your pals.”
In a country with a rich tradition of dance, where paying for sex is illegal, this might be harmless innuendo. But not everybody thinks so. During the recently-ended civil war, Nepal's Himalayan tourism industry collapsed. Some activists think that sex tourism is replacing it. According to John Frederick, an expert on South Asia's sex trade, “Ten years ago the sex industry was underground in Nepal. Now it's like Bangkok, it's like Phnom Penh.”
The war, which put much of rural Nepal under the control of Maoist insurgents, has increased the supply of sex workers. Srijana is from the poor and still violent district of Siraha in southern Nepal. She was widowed there two years ago, and left an infant son to come to the capital. Yet she is remarkably cheerful—perhaps because she is drunk, and the shower is not working.
No outsourcing
No outsourcing
There is no way the IT industry will make headway in Nepal
NepaliTimes, Issue #386 (8-Feb-08 to 14-Feb-08)
ARTHA BEED
There was much hype about the recent CAN Infotech apparently drawing more than half a million visitors during the annual IT do. It has turned out to be another of the events in our calendar where hundreds turn up and little is known as to what volume of business transactions actually take place. For the organisers, the gate money is the key focus of the event.
The Nepali IT industry began before the IT revolution in India. Nepali hardware vendors were importing equipment to be shipped to India. When mobile technology became affordable, mobile phones made their way from India into Nepal. However, no Nepali IT firm made any headway in expanding their business outside of Nepal or setting up large scale plants that could supply to India. Perhaps the doyens of IT industry were happier fighting for positions in CAN rather than making an effort to take their business to a regional or global level.
The hardware and software industries will continue to focus on the domestic market, and with technology breakthroughs still coming at a phenomenal pace, we would be more than happy to be the representative or agent of one of these companies. Talking about the pace of technological advancement in this field, the Chairman of Intel said that 95% of the products which Intel shipped in December had not even been designed in January of that same year, which shows just how dynamic this industry is right now. It also shows that we have really missed the boat!
On a recent flight, a CEO of a global software company asked this Beed about the potential of Business Process Outsourcing (BPO) in Nepal. He opined that in view of the political problems in Pakistan, the fear of confrontation between India and Pakistan always lurks. Therefore, having a backup in a neutral venue like Nepal seems attractive and several companies, including his, were exploring the possibility.
However, the scenario in Nepal is different. Apart from ‘outsourcing’ goons for political means, we seem not to believe in outsourcing. The politically active unions propagate direct employment by firms and not through an outsourcing agency. As this Beed told the CEO, outsourcing would be a possibility in Nepal if Citibank or Microsoft directly employed these workers on their payrolls, guaranteeing them minimum pay for not working, scheduled time to bask in the sun, and time off every time that they would like to celebrate Mao’s birthday or a coming of age ceremony. The Indian IT boom was fuelled greatly by business process outsourcing and now countries like Egypt, the Philippines and even Eastern European countries like Estonia, Latvia and Lithuania have joined the fray. For Nepal, it seems we have missed another opportunity.
Several Nepali firms are facing the problem of employees of outsourced companies pushing to be absorbed by the parent firms. This means that the guy working for a vegetable vendor of a hotel one day may want to come under the direct payroll of the hotel the next. There are few countries where support services are ever employed directly by the parent company.
The Chinese today lament the rule of Mao that hindered their country’s economic growth for many years. We will not want future historians to look back on this period of Nepali history as the time when we retarded our employment market by decades. If we do not provide the legal, institutional and political framework for outsourcing as a service industry to develop and provide new employment opportunities to the hundreds of thousands of Nepalis entering the job market every year, then we should be ready for another round of prolonged conflict.
www.arthabeed.com
There is no way the IT industry will make headway in Nepal
NepaliTimes, Issue #386 (8-Feb-08 to 14-Feb-08)
ARTHA BEED
There was much hype about the recent CAN Infotech apparently drawing more than half a million visitors during the annual IT do. It has turned out to be another of the events in our calendar where hundreds turn up and little is known as to what volume of business transactions actually take place. For the organisers, the gate money is the key focus of the event.
The Nepali IT industry began before the IT revolution in India. Nepali hardware vendors were importing equipment to be shipped to India. When mobile technology became affordable, mobile phones made their way from India into Nepal. However, no Nepali IT firm made any headway in expanding their business outside of Nepal or setting up large scale plants that could supply to India. Perhaps the doyens of IT industry were happier fighting for positions in CAN rather than making an effort to take their business to a regional or global level.
The hardware and software industries will continue to focus on the domestic market, and with technology breakthroughs still coming at a phenomenal pace, we would be more than happy to be the representative or agent of one of these companies. Talking about the pace of technological advancement in this field, the Chairman of Intel said that 95% of the products which Intel shipped in December had not even been designed in January of that same year, which shows just how dynamic this industry is right now. It also shows that we have really missed the boat!
On a recent flight, a CEO of a global software company asked this Beed about the potential of Business Process Outsourcing (BPO) in Nepal. He opined that in view of the political problems in Pakistan, the fear of confrontation between India and Pakistan always lurks. Therefore, having a backup in a neutral venue like Nepal seems attractive and several companies, including his, were exploring the possibility.
However, the scenario in Nepal is different. Apart from ‘outsourcing’ goons for political means, we seem not to believe in outsourcing. The politically active unions propagate direct employment by firms and not through an outsourcing agency. As this Beed told the CEO, outsourcing would be a possibility in Nepal if Citibank or Microsoft directly employed these workers on their payrolls, guaranteeing them minimum pay for not working, scheduled time to bask in the sun, and time off every time that they would like to celebrate Mao’s birthday or a coming of age ceremony. The Indian IT boom was fuelled greatly by business process outsourcing and now countries like Egypt, the Philippines and even Eastern European countries like Estonia, Latvia and Lithuania have joined the fray. For Nepal, it seems we have missed another opportunity.
Several Nepali firms are facing the problem of employees of outsourced companies pushing to be absorbed by the parent firms. This means that the guy working for a vegetable vendor of a hotel one day may want to come under the direct payroll of the hotel the next. There are few countries where support services are ever employed directly by the parent company.
The Chinese today lament the rule of Mao that hindered their country’s economic growth for many years. We will not want future historians to look back on this period of Nepali history as the time when we retarded our employment market by decades. If we do not provide the legal, institutional and political framework for outsourcing as a service industry to develop and provide new employment opportunities to the hundreds of thousands of Nepalis entering the job market every year, then we should be ready for another round of prolonged conflict.
www.arthabeed.com
Sunday, February 10, 2008
Weekly share update : Bear hugs Nepse
Weekly share update : Bear hugs Nepse
ArthaExpress, 9-Feb-08
Bearish streak continues to grip Nepal Stock Exchange (Nepse), as share trading plunged for fifth straight week, indicating that the overpriced market is in correction mode. Nepse lost 27.27 points this week.
According to Nepse, its index closed down at 750.86 points on Thursday from the opening 778.13 points on Sunday. All leading groups except finance and hotels lost their beat, as the country’s sole secondary market is undergoing correction phase after it reached a peak one and half months ago. Among the major players, development banks suffered the most, while commercial banks, insurance and hydropower groups also lost this week, which led to a plunge in Nepse.
The total trading at the Nepse floor dropped by almost 50 per cent to Rs 151.06 million against last week’s trading of Rs 301.52 million. A total of 228,557 unit shares were traded through 1,968 transactions.
The Nepse index of the development banks plummeted by 365.89 points to land at 1094.10 points from the opening 1459.99 points. The Nepse indices of the commercial banks dropped to 736.69 points (-17.89 points), insurance to 808.48 points (-7.79 points) and hydropower group to 1136.49 points (-3.97 points) from Sunday to Thursday.
The finance companies registered a 10.31 points growth and closed at 930.22 points on Thursday from the opening 919.91 points, while hotel groups edged higher at 413.56 points.
Nepse witnessed a mixed trading this week, as its index dropped to 752.30 points on the second day and further worsened by a whopping loss of 43.57 points to land 708.73 points on the third day. However, it improved on the fourth day with a gain of 14.81 points and the market closed at 750.86 points on the last day of trading.
In terms of monetary value, Nepal SBI Bank, National Hydropower Company, Butwal Power Company, Bank of Kathmandu, and Machhapuchhre Bank are the gainers for this week.
Standard Chartered Bank Nepal topped the race in terms of monetary value with Rs 18.1 million. In terms of number of shares traded, National Hydropower Company topped the race with 65,000 units of shares having exchanged hands. However, in terms of number of transaction, Gurkha Development Bank topped the race with 279 transactions. Shares of 60 listed companies were traded this week, while the government bonds and debentures saw nil trading this week, too.
A total 900,000 units of bonus shares of Siddhartha Bank Ltd were listed at Nepse for trading from this week.
ArthaExpress, 9-Feb-08
Bearish streak continues to grip Nepal Stock Exchange (Nepse), as share trading plunged for fifth straight week, indicating that the overpriced market is in correction mode. Nepse lost 27.27 points this week.
According to Nepse, its index closed down at 750.86 points on Thursday from the opening 778.13 points on Sunday. All leading groups except finance and hotels lost their beat, as the country’s sole secondary market is undergoing correction phase after it reached a peak one and half months ago. Among the major players, development banks suffered the most, while commercial banks, insurance and hydropower groups also lost this week, which led to a plunge in Nepse.
The total trading at the Nepse floor dropped by almost 50 per cent to Rs 151.06 million against last week’s trading of Rs 301.52 million. A total of 228,557 unit shares were traded through 1,968 transactions.
The Nepse index of the development banks plummeted by 365.89 points to land at 1094.10 points from the opening 1459.99 points. The Nepse indices of the commercial banks dropped to 736.69 points (-17.89 points), insurance to 808.48 points (-7.79 points) and hydropower group to 1136.49 points (-3.97 points) from Sunday to Thursday.
The finance companies registered a 10.31 points growth and closed at 930.22 points on Thursday from the opening 919.91 points, while hotel groups edged higher at 413.56 points.
Nepse witnessed a mixed trading this week, as its index dropped to 752.30 points on the second day and further worsened by a whopping loss of 43.57 points to land 708.73 points on the third day. However, it improved on the fourth day with a gain of 14.81 points and the market closed at 750.86 points on the last day of trading.
In terms of monetary value, Nepal SBI Bank, National Hydropower Company, Butwal Power Company, Bank of Kathmandu, and Machhapuchhre Bank are the gainers for this week.
Standard Chartered Bank Nepal topped the race in terms of monetary value with Rs 18.1 million. In terms of number of shares traded, National Hydropower Company topped the race with 65,000 units of shares having exchanged hands. However, in terms of number of transaction, Gurkha Development Bank topped the race with 279 transactions. Shares of 60 listed companies were traded this week, while the government bonds and debentures saw nil trading this week, too.
A total 900,000 units of bonus shares of Siddhartha Bank Ltd were listed at Nepse for trading from this week.
Foreign Aid Far From Adding Growth: Report
Foreign Aid Far From Adding Growth: Report
ArthaExpress.com, 7-Feb-08
Foreign aid in whatever form has not made any significant contribution for reducing poverty and supporting income generation activities in Nepal, says a report.
Although the volume of foreign aid has increased over the years and has been instrumental in meeting resource gap, it has been unable to enhance sustained growth.
The report entitled -´Role and Effectiveness of Foreign Aid Under PRSP in Nepal´ says that the aid is primarily contributing to induce aggregate demand in the economy for a short term. "The foreign aid measurably failed to enhance productive capacity of the Nepali economy which could have helped unleashing resources for sustained growth and, there by lessening of external dependency over the time."
Releasing the report, Speaker Subash Nembang on Wednesday stressed on the need to initiate public debate on aid effectiveness and its contribution to the socio-economic development in the long run. He pointed out that the status of foreign aided programmes and projects should be made transparent and people should have the rights to know about them.
Prof Bishwambher Pyakuryal said that the procedural complications and delay in disbursement have slowed down the effectiveness of foreign aids. He, however, claimed foreign aid played an instrumental role in the country´s expenditures, as it contributed almost one fourth of total expenditures.
Another economist Dr Raghab Dhoj Pant argued "Why should Nepal constantly beg donors for support, if foreign aid has not made any contribution to poverty reduction or enhancing incomes and savings. He also criticised the programmes and policies initiated by PRSP as being donor predominant, which ultimately failed to yield the projected results.
He criticised the government for implementing PRSP or the Tenth Plan (2002-2007) without realising the economic structure and ground realities of Nepal. Dr Pant countered the government´s claim of increasing flow of grants and said, "It will be useless to be happy unless we have counterpart fund to receive in large volume of grants."
Stating the most striking features of the 10th Plan, the report states that there were no attempts made to bring about a consistency between objectives and strategies, policies, programmes and implementation modalities. ´The donors´ policy conditions were predominant.´
The report findings observe that a unique phenomenon of foreign aid to Nepal is that more than one third of the total aid is neither audited, nor has proper records. The ratio of disbursement to commitment is not consistent. Besides low disbursement, on an average, aid utilisation capacity has remained less than 50 per cent.
The report also blames the state mechanism and government for low utilisation of the aid. "Despite expertise and qualified people inside and outside the government, no initiatives are taken to make detailed homework to identify major constraints and evolve better policy or programme options taking political economy and institutional into account," it says.
Contemplating Nepal´s aid dependency and its effectiveness, Dr Dilli Raj Khanal, principal author of the report said, "Unless foreign aid strategies and donors´ behaviour are changed following an overhauling approach, the debt trap situation will perpetuate accompanied by continued dependency on aid with some zero sum game type effect."
ArthaExpress.com, 7-Feb-08
Foreign aid in whatever form has not made any significant contribution for reducing poverty and supporting income generation activities in Nepal, says a report.
Although the volume of foreign aid has increased over the years and has been instrumental in meeting resource gap, it has been unable to enhance sustained growth.
The report entitled -´Role and Effectiveness of Foreign Aid Under PRSP in Nepal´ says that the aid is primarily contributing to induce aggregate demand in the economy for a short term. "The foreign aid measurably failed to enhance productive capacity of the Nepali economy which could have helped unleashing resources for sustained growth and, there by lessening of external dependency over the time."
Releasing the report, Speaker Subash Nembang on Wednesday stressed on the need to initiate public debate on aid effectiveness and its contribution to the socio-economic development in the long run. He pointed out that the status of foreign aided programmes and projects should be made transparent and people should have the rights to know about them.
Prof Bishwambher Pyakuryal said that the procedural complications and delay in disbursement have slowed down the effectiveness of foreign aids. He, however, claimed foreign aid played an instrumental role in the country´s expenditures, as it contributed almost one fourth of total expenditures.
Another economist Dr Raghab Dhoj Pant argued "Why should Nepal constantly beg donors for support, if foreign aid has not made any contribution to poverty reduction or enhancing incomes and savings. He also criticised the programmes and policies initiated by PRSP as being donor predominant, which ultimately failed to yield the projected results.
He criticised the government for implementing PRSP or the Tenth Plan (2002-2007) without realising the economic structure and ground realities of Nepal. Dr Pant countered the government´s claim of increasing flow of grants and said, "It will be useless to be happy unless we have counterpart fund to receive in large volume of grants."
Stating the most striking features of the 10th Plan, the report states that there were no attempts made to bring about a consistency between objectives and strategies, policies, programmes and implementation modalities. ´The donors´ policy conditions were predominant.´
The report findings observe that a unique phenomenon of foreign aid to Nepal is that more than one third of the total aid is neither audited, nor has proper records. The ratio of disbursement to commitment is not consistent. Besides low disbursement, on an average, aid utilisation capacity has remained less than 50 per cent.
The report also blames the state mechanism and government for low utilisation of the aid. "Despite expertise and qualified people inside and outside the government, no initiatives are taken to make detailed homework to identify major constraints and evolve better policy or programme options taking political economy and institutional into account," it says.
Contemplating Nepal´s aid dependency and its effectiveness, Dr Dilli Raj Khanal, principal author of the report said, "Unless foreign aid strategies and donors´ behaviour are changed following an overhauling approach, the debt trap situation will perpetuate accompanied by continued dependency on aid with some zero sum game type effect."
Power crisis to worsen for next 5 yrs
Power crisis to worsen for next 5 yrs
House panel for crisis mgmt, tough measures
eKantipur.com, 4-Feb-08
Nepal's power distribution monopoly, Nepal Electricity Authority (NEA), on Monday said it can do little to deal with the chronic power crisis in the country.
NEA said the country would face increasingly worse power cuts till 2012/13, when hydropower projects in the pipeline are expected to start generation.
"The country will face a still worse power crisis for the next five years," said NEA chief Arjun Kumar Karki, answering queries from lawmakers at parliament's Finance Committee. "The only way out is power import from India. Unfortunately, both demand and price of power in the Indian market are rising too steeply to make this an easy option for us," Karki said.
According to Karki, by the time the 70 MW Middle Marsyangdi project comes into operation in 2008-end, power demand in the country will have shot up by more than 70 MW from the existing demand. There is no other sizeable project under construction in the country.
NEA has enforced up to eight hours of power cuts per household daily in the country, and this duration could be extended to 11 hours daily in mid-March.
Karki told the panel that crippling power cuts have become inevitable owing to a consumption shift. "The only power we are saving through cuts is the power used for lighting purposes. People use power for other purposes whenever electricity is available," he said.
Also, massive use of power-inefficient inverters for hoarding power, heavy use of street lamps by local bodies citing security reasons, operation of industries during peak hours, and an increasing use of electric hoarding boards have contributed to increasing pressure on the nation's power system, he said.
Measures suggested
Lawmakers on the parliamentary panel suggested measures to deal with the burgeoning power crisis, and directed NEA to furnish time-bound crisis solutions next Monday.
Nepali Congress lawmaker Dr Prakash Sharan Mahat suggested imposition of a heavy financial penalty on consumers using more than the optimum quantity of electricity. "Given the power crisis, we have to announce penalties on consumers using too much electricity," Mahat said.
Lawmakers also suggested directing local bodies to replace the bulbs used in street lamps with compact fluorescent lamps (CFLs), which use power more efficiently, and initiate a public campaign encouraging the use of CFLs. The lawmakers also asked NEA to suggest ways to reduce power leakage, specifically power theft. Currently, NEA's leakage stands at 24 percent.
Expressing the panel's commitment to cooperate with NEA on every front for addressing the power crisis, UML lawmaker Mangal Siddhi Manandhar told NEA, "This is a national crisis. We need measures to deal with it and those measures may be drastic. We are willing to back you to the full."
House panel for crisis mgmt, tough measures
eKantipur.com, 4-Feb-08
Nepal's power distribution monopoly, Nepal Electricity Authority (NEA), on Monday said it can do little to deal with the chronic power crisis in the country.
NEA said the country would face increasingly worse power cuts till 2012/13, when hydropower projects in the pipeline are expected to start generation.
"The country will face a still worse power crisis for the next five years," said NEA chief Arjun Kumar Karki, answering queries from lawmakers at parliament's Finance Committee. "The only way out is power import from India. Unfortunately, both demand and price of power in the Indian market are rising too steeply to make this an easy option for us," Karki said.
According to Karki, by the time the 70 MW Middle Marsyangdi project comes into operation in 2008-end, power demand in the country will have shot up by more than 70 MW from the existing demand. There is no other sizeable project under construction in the country.
NEA has enforced up to eight hours of power cuts per household daily in the country, and this duration could be extended to 11 hours daily in mid-March.
Karki told the panel that crippling power cuts have become inevitable owing to a consumption shift. "The only power we are saving through cuts is the power used for lighting purposes. People use power for other purposes whenever electricity is available," he said.
Also, massive use of power-inefficient inverters for hoarding power, heavy use of street lamps by local bodies citing security reasons, operation of industries during peak hours, and an increasing use of electric hoarding boards have contributed to increasing pressure on the nation's power system, he said.
Measures suggested
Lawmakers on the parliamentary panel suggested measures to deal with the burgeoning power crisis, and directed NEA to furnish time-bound crisis solutions next Monday.
Nepali Congress lawmaker Dr Prakash Sharan Mahat suggested imposition of a heavy financial penalty on consumers using more than the optimum quantity of electricity. "Given the power crisis, we have to announce penalties on consumers using too much electricity," Mahat said.
Lawmakers also suggested directing local bodies to replace the bulbs used in street lamps with compact fluorescent lamps (CFLs), which use power more efficiently, and initiate a public campaign encouraging the use of CFLs. The lawmakers also asked NEA to suggest ways to reduce power leakage, specifically power theft. Currently, NEA's leakage stands at 24 percent.
Expressing the panel's commitment to cooperate with NEA on every front for addressing the power crisis, UML lawmaker Mangal Siddhi Manandhar told NEA, "This is a national crisis. We need measures to deal with it and those measures may be drastic. We are willing to back you to the full."
Work on Outer Ring Road to start mid-July
Work on Outer Ring Road to start mid-July
eKantipur.com, 4-Feb-08
POST REPORT
The government has decided to start construction of the 72-kilometer Outer Ring Road (ORR) in Kathmandu Valley from next fiscal year, which begins in mid-July.
Speaking at an interaction organized by Media Group Nepal in the capital on Monday, Suresh Prakash Acharya, chief of the Outer Ring Road Development Project (ORRDP), said consultations are going on with various donors for technical and monetary support for the project.
"We have decided to start construction work between Chovar and Satungal on our own from the start of next fiscal year even if there is no support from donors by then," he added.
Acharya, though, informed that the government of China has shown interest in constructing the ORR. A technical team from China recently came to Nepal to get information on the project.
Acharya said the Detailed Project Report (DPR) for a 26-km stretch of the proposed raod from Sandol to Thali is almost complete. "We will complete the DPR of the remaining 32-km stretch within this fiscal year," he said, adding that DPR preparation and construction work would proceed simultaneously.
The government started preparing the DPR for the project four years ago. So far, some Rs 20 million has been spent for the purpose.
He also said that the ORRDP has completed a Model Readjustment Plan for the road, study of intersection development on the road stretch, and technical evaluation and preparation of townscape along the proposed road.
The ORR is being constructed as a model for planned urban development in Kathmandu Valley. It aims to carry out planned urban development along the road's corridor of influence, which consists of areas within 250 meters on either side of the road.
"It would take some five billion rupees to compensate for land acquired for the road, while construction of a 50-meter wide road is also expensive," he added.
Besides four municipal areas, the proposed road will help connect 41 outlying Village Development Committees (VDCs) - 22 in Kathmandu, 44 in Lalitpur and 13 in Bhaktapur - with the main road network. Of the total road length, 35.08 km will lie in Kathmandu, 21.05 km in Bhaktapur and 15.80 km in Lalitpur district.
Officials believe that construction of the proposed road will greatly ease the Valley's worsening traffic situation as the road will have a Fast Lane, Slow Lane, Parking Lane, Cycle Lane, Green Belt and Footpath in parallel.
Speaking on the occasion, leaders of political parties cautioned that the land mafia would render permanent residents in the project-affected areas landless. They also urged the government to adopt measures to check unscrupulous land purchase and sale.
eKantipur.com, 4-Feb-08
POST REPORT
The government has decided to start construction of the 72-kilometer Outer Ring Road (ORR) in Kathmandu Valley from next fiscal year, which begins in mid-July.
Speaking at an interaction organized by Media Group Nepal in the capital on Monday, Suresh Prakash Acharya, chief of the Outer Ring Road Development Project (ORRDP), said consultations are going on with various donors for technical and monetary support for the project.
"We have decided to start construction work between Chovar and Satungal on our own from the start of next fiscal year even if there is no support from donors by then," he added.
Acharya, though, informed that the government of China has shown interest in constructing the ORR. A technical team from China recently came to Nepal to get information on the project.
Acharya said the Detailed Project Report (DPR) for a 26-km stretch of the proposed raod from Sandol to Thali is almost complete. "We will complete the DPR of the remaining 32-km stretch within this fiscal year," he said, adding that DPR preparation and construction work would proceed simultaneously.
The government started preparing the DPR for the project four years ago. So far, some Rs 20 million has been spent for the purpose.
He also said that the ORRDP has completed a Model Readjustment Plan for the road, study of intersection development on the road stretch, and technical evaluation and preparation of townscape along the proposed road.
The ORR is being constructed as a model for planned urban development in Kathmandu Valley. It aims to carry out planned urban development along the road's corridor of influence, which consists of areas within 250 meters on either side of the road.
"It would take some five billion rupees to compensate for land acquired for the road, while construction of a 50-meter wide road is also expensive," he added.
Besides four municipal areas, the proposed road will help connect 41 outlying Village Development Committees (VDCs) - 22 in Kathmandu, 44 in Lalitpur and 13 in Bhaktapur - with the main road network. Of the total road length, 35.08 km will lie in Kathmandu, 21.05 km in Bhaktapur and 15.80 km in Lalitpur district.
Officials believe that construction of the proposed road will greatly ease the Valley's worsening traffic situation as the road will have a Fast Lane, Slow Lane, Parking Lane, Cycle Lane, Green Belt and Footpath in parallel.
Speaking on the occasion, leaders of political parties cautioned that the land mafia would render permanent residents in the project-affected areas landless. They also urged the government to adopt measures to check unscrupulous land purchase and sale.
Commodity prices skyrocket
Commodity prices skyrocket
eKantipur.com, 3-Feb-08
BY PRABHAKAR GHIMIRE
Ganga Poudel, a house wife from Baneshwor does not know how to manage with her husband's modest salary as prices of consumable goods have skyrocketed in recent days. Her husband is a teacher at Snow Apex Academy in Putalisadak.
"We are helpless. With our income we can hardly afford basic food items, and sadly we do not know where to vent ire or lodge the complain," she complained.
Poudel is one among millions who are suffering from astounding price hike in the basic food items in the last three months. In the period the price of mustard oil has increased by 35 rupees per liter, soyabean oil has gone up by 40 rupees per liter and rice by over 5 rupees per kilogram (see the table).
Prices of food items have skyrocketed in the market over the last three months. If the trend continues foods and oil will become unaffordable for the general public, say market analysts.
Ban imposed by India in its export of rice and paddy and hike in the price of rapeseed, palm oil, soybean oil and sunflower in international market has directly affected the price of those commodities in the Nepali market. According to traders, Nepali paddy can fulfill hardly 50 percent of the local demand.
"The prices of rice, palm oil, sunflower oil, soybean oil have gone up by 20 to 30 percent over the past three months in the international market," points out Satish Bohara, joint-secretary of Nepali Rice, Oil and Ghee Producers Association.
Traders and grocery shopkeepers say the price of rice went up by 12 percent to 15 percent while price of edible oils and vegetable ghee shot up to 50 percent during the period.
Ram Hari Khadka, a grocer in Bijulibazar of Kathmandu, admits that the prices of food items have gone up by more than 30 percent over the period of three months.
"Sad part is that sharp hike has come on commodities like rice, edible oils and ghee, which are very essential items of all Nepali kitchens," says Khadka.
On the paddy front too, the news is gloomy. Prices of newly harvested paddy have touched a record high over the past one month. "Once the effect reaches the retail stores, prices of rice would go up dramatically," said Bohara.
Moreover, decline by 50 percent in production volume of rice mills due to longer load shedding hours and unavailability of diesel, which powers generators, have caused the supply to dwindle and price to go up.
The price rise has mainly hit the poor consumers, whose income level has not seen any improvement for last few years.
Retailers say that overall demands of those items have not dropped, indicating that people are so far managing to get hold of basic consumable items irrespective of the price rise.
"But the situation can fast turn worse," warns Puskar Bajracharya, an economist who has been doing extensive research in urban poverty. "With essential commodities becoming unaffordable, risks have increased for wage earners, unemployed and low income groups failing to meet their calorie requirement."
And this trend is very likely, according to a report of Food and Agriculture Organization. Its latest report shows that food prices in the international markets have gone up like never before. Worse is, the upward movement of the price is still going on.
eKantipur.com, 3-Feb-08
BY PRABHAKAR GHIMIRE
Ganga Poudel, a house wife from Baneshwor does not know how to manage with her husband's modest salary as prices of consumable goods have skyrocketed in recent days. Her husband is a teacher at Snow Apex Academy in Putalisadak.
"We are helpless. With our income we can hardly afford basic food items, and sadly we do not know where to vent ire or lodge the complain," she complained.
Poudel is one among millions who are suffering from astounding price hike in the basic food items in the last three months. In the period the price of mustard oil has increased by 35 rupees per liter, soyabean oil has gone up by 40 rupees per liter and rice by over 5 rupees per kilogram (see the table).
Prices of food items have skyrocketed in the market over the last three months. If the trend continues foods and oil will become unaffordable for the general public, say market analysts.
Ban imposed by India in its export of rice and paddy and hike in the price of rapeseed, palm oil, soybean oil and sunflower in international market has directly affected the price of those commodities in the Nepali market. According to traders, Nepali paddy can fulfill hardly 50 percent of the local demand.
"The prices of rice, palm oil, sunflower oil, soybean oil have gone up by 20 to 30 percent over the past three months in the international market," points out Satish Bohara, joint-secretary of Nepali Rice, Oil and Ghee Producers Association.
Traders and grocery shopkeepers say the price of rice went up by 12 percent to 15 percent while price of edible oils and vegetable ghee shot up to 50 percent during the period.
Ram Hari Khadka, a grocer in Bijulibazar of Kathmandu, admits that the prices of food items have gone up by more than 30 percent over the period of three months.
"Sad part is that sharp hike has come on commodities like rice, edible oils and ghee, which are very essential items of all Nepali kitchens," says Khadka.
On the paddy front too, the news is gloomy. Prices of newly harvested paddy have touched a record high over the past one month. "Once the effect reaches the retail stores, prices of rice would go up dramatically," said Bohara.
Moreover, decline by 50 percent in production volume of rice mills due to longer load shedding hours and unavailability of diesel, which powers generators, have caused the supply to dwindle and price to go up.
The price rise has mainly hit the poor consumers, whose income level has not seen any improvement for last few years.
Retailers say that overall demands of those items have not dropped, indicating that people are so far managing to get hold of basic consumable items irrespective of the price rise.
"But the situation can fast turn worse," warns Puskar Bajracharya, an economist who has been doing extensive research in urban poverty. "With essential commodities becoming unaffordable, risks have increased for wage earners, unemployed and low income groups failing to meet their calorie requirement."
And this trend is very likely, according to a report of Food and Agriculture Organization. Its latest report shows that food prices in the international markets have gone up like never before. Worse is, the upward movement of the price is still going on.
Tourist arrivals up 12.9 pc
Tourist arrivals up 12.9 pc
eKantipur.com, 1-Feb-08
POST REPORT
Nepal tourism continued its upward trend with arrivals growing by 12.9 percent in January. The data of the Nepal Tourism Board shows that 26,064 tourists entered the country by air during that period, up from 23,079 tourists during the same period last year.
Inbound tourism has been rising following the end of the conflict. In 2007, a record number of sightseers entered the country exceeding the projected half a million arrivals.
A breakdown by tourist originating country shows that the European and American markets maintained robust growth. The number of European tourists increased by 331.1 percent to reach 5,442 persons. French tourists numbered 1,032 persons (up 78.5 percent) while British visitors numbered 1,543 persons (up 33.9 percent). The flow of tourists from the US increased by 28 percent to reach 2,046 persons. However, the Indian market performed poorly, with arrivals from the southern neighbor falling by 12.2 percent to 6,440 persons. In January last year, 7,335 Indian vacationers flew into Nepal.
The NTB in a statement said the influx of tourists would grow further in the coming days because of the increased number of flights to Nepal.
eKantipur.com, 1-Feb-08
POST REPORT
Nepal tourism continued its upward trend with arrivals growing by 12.9 percent in January. The data of the Nepal Tourism Board shows that 26,064 tourists entered the country by air during that period, up from 23,079 tourists during the same period last year.
Inbound tourism has been rising following the end of the conflict. In 2007, a record number of sightseers entered the country exceeding the projected half a million arrivals.
A breakdown by tourist originating country shows that the European and American markets maintained robust growth. The number of European tourists increased by 331.1 percent to reach 5,442 persons. French tourists numbered 1,032 persons (up 78.5 percent) while British visitors numbered 1,543 persons (up 33.9 percent). The flow of tourists from the US increased by 28 percent to reach 2,046 persons. However, the Indian market performed poorly, with arrivals from the southern neighbor falling by 12.2 percent to 6,440 persons. In January last year, 7,335 Indian vacationers flew into Nepal.
The NTB in a statement said the influx of tourists would grow further in the coming days because of the increased number of flights to Nepal.
Power cuts, diesel crunch clobber economy
Power cuts, diesel crunch clobber economy
eKantipur.com, 1-Feb-08
BY MILAN MANI SHARMA
Extended hours of power cut and an unprecedented shortage of diesel - the major industrial fuel - have threatened almost all vital sectors of the economy.
Energy crisis has forced some transport, manufacturing and service units to close down and compelled many others to operate below capacity. Hoteliers lamented that they are finding it tough to keep the guests warm and in illuminated surroundings.
As the country reels under eight hours of daily load-shedding, Rakesh Rawat, general manager of Everest Hotel, said he had to invest additional money and manpower to arrange diesel for the generator to light up the hotel, operate the lifts and keep the central heating system humming.
"Worse, load shedding hours are increasing steadily and it is difficult to obtain diesel," Rawat told the Post. His hotel currently requires 500 liters of diesel a day to keep itself going.
The problem runs equally deep for other hotels, said Prakash Shrestha, president of Hotel Association Nepal (HAN). HAN officials added that some hotels and resorts are organizing city tours for their guests to tide over the cold hours and organizing candlelit dinners in an attempt to make those times 'exciting'.
Almost all of manufacturing industry has cut production and rescheduled operating hours. Some outfits like state-owned cement manufacturer Hetauda Cement Factory and Reliance Spinning, a manufacturing unit in Biratnagar, have closed down operations.
Arati Strips, a leading export-oriented industry in the eastern region, has curtailed production hours.
"The problem has hit all of manufacturing industry -- small to large -- equally," said Kush Kumar Joshi, second vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
The crisis has not spared development activities either. According to Shakuta Lal Hirachan, president of Nepal Contractors Association, large scale construction work has been put off due to the energy crisis.
"It threatens to raise the cost of construction by 20 percent," he warned.
As the shortage of diesel has become really severe over the past week, the number of vehicles plying the roads has gone down - both in Kathmandu Valley and on the major highways. Many were seen queuing up at petrol pumps at Bhadrakali, Baneshwor, Naxal, Pulchowk and Kalimati Friday.
Nepal Transport Entrepreneurs Federation (NTEF), which has issued strike threats, says strike or no strike, no public vehicle and goods carrier can ply the roads if the shortage persisted.
Still more unnerving, NOC says it has just about two days' supply in stock. "At the Thankot depot, we are down to our emergency stock," said an official there.
NOC deputy chief Umesh Dahal said it was running low on major petroleum products-especially diesel- as the corporation has not been able to make payments in time to ensure that adequate oil shipments kept arriving regularly.
Although the government on Thursday released one billion rupees to NOC to finance immediate imports, officials said that with losses amounting to Rs 600 million a month, the money wasn't going to bail the corporation out of the current crisis. At best, it will stave off the crisis for a few weeks.
The government did try to trim the deficit by raising prices for diesel, kerosene and cooking gas last Monday, only to backtrack within 48 hours following violent demonstrations.
With its diesel stocks depleted and the corporation strapped for cash to finance regular imports, NOC over this week supplied just about half the volume of normal diesel demand in the Valley. "Load-shedding has put extra pressure on us," said Ichchha Bikram Thapa, NOC spokesperson.
While sluggish hydropower development has made power-cuts an inevitable phenomenon, lack of prudent policies and shelving of plans to liberalize the petroleum sector till the Constituent Assembly election are certain to keep the country staggering from one fuel crisis to another.
"The government has to work on a sustainable way out. It simply cannot let the problem deepen and affect the economy," said HAN president Shrestha.
The only solution at present seems to be pouring in more money from government coffers. "That will cause a crack on the fiscal front," say Finance Ministry officials. But they also acknowledge that there seems to be no alternative, at least in the short run.
eKantipur.com, 1-Feb-08
BY MILAN MANI SHARMA
Extended hours of power cut and an unprecedented shortage of diesel - the major industrial fuel - have threatened almost all vital sectors of the economy.
Energy crisis has forced some transport, manufacturing and service units to close down and compelled many others to operate below capacity. Hoteliers lamented that they are finding it tough to keep the guests warm and in illuminated surroundings.
As the country reels under eight hours of daily load-shedding, Rakesh Rawat, general manager of Everest Hotel, said he had to invest additional money and manpower to arrange diesel for the generator to light up the hotel, operate the lifts and keep the central heating system humming.
"Worse, load shedding hours are increasing steadily and it is difficult to obtain diesel," Rawat told the Post. His hotel currently requires 500 liters of diesel a day to keep itself going.
The problem runs equally deep for other hotels, said Prakash Shrestha, president of Hotel Association Nepal (HAN). HAN officials added that some hotels and resorts are organizing city tours for their guests to tide over the cold hours and organizing candlelit dinners in an attempt to make those times 'exciting'.
Almost all of manufacturing industry has cut production and rescheduled operating hours. Some outfits like state-owned cement manufacturer Hetauda Cement Factory and Reliance Spinning, a manufacturing unit in Biratnagar, have closed down operations.
Arati Strips, a leading export-oriented industry in the eastern region, has curtailed production hours.
"The problem has hit all of manufacturing industry -- small to large -- equally," said Kush Kumar Joshi, second vice president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).
The crisis has not spared development activities either. According to Shakuta Lal Hirachan, president of Nepal Contractors Association, large scale construction work has been put off due to the energy crisis.
"It threatens to raise the cost of construction by 20 percent," he warned.
As the shortage of diesel has become really severe over the past week, the number of vehicles plying the roads has gone down - both in Kathmandu Valley and on the major highways. Many were seen queuing up at petrol pumps at Bhadrakali, Baneshwor, Naxal, Pulchowk and Kalimati Friday.
Nepal Transport Entrepreneurs Federation (NTEF), which has issued strike threats, says strike or no strike, no public vehicle and goods carrier can ply the roads if the shortage persisted.
Still more unnerving, NOC says it has just about two days' supply in stock. "At the Thankot depot, we are down to our emergency stock," said an official there.
NOC deputy chief Umesh Dahal said it was running low on major petroleum products-especially diesel- as the corporation has not been able to make payments in time to ensure that adequate oil shipments kept arriving regularly.
Although the government on Thursday released one billion rupees to NOC to finance immediate imports, officials said that with losses amounting to Rs 600 million a month, the money wasn't going to bail the corporation out of the current crisis. At best, it will stave off the crisis for a few weeks.
The government did try to trim the deficit by raising prices for diesel, kerosene and cooking gas last Monday, only to backtrack within 48 hours following violent demonstrations.
With its diesel stocks depleted and the corporation strapped for cash to finance regular imports, NOC over this week supplied just about half the volume of normal diesel demand in the Valley. "Load-shedding has put extra pressure on us," said Ichchha Bikram Thapa, NOC spokesperson.
While sluggish hydropower development has made power-cuts an inevitable phenomenon, lack of prudent policies and shelving of plans to liberalize the petroleum sector till the Constituent Assembly election are certain to keep the country staggering from one fuel crisis to another.
"The government has to work on a sustainable way out. It simply cannot let the problem deepen and affect the economy," said HAN president Shrestha.
The only solution at present seems to be pouring in more money from government coffers. "That will cause a crack on the fiscal front," say Finance Ministry officials. But they also acknowledge that there seems to be no alternative, at least in the short run.
Roundup of Economic & Business News (Jan 1-Jan 31)
Jan 1
Tourist arrivals exceed half million (ekantipur.com)
Petrol becomes available, at last (ekantipur.com)
Finance Ministry releases Rs 54.66 b in five months (Nepalnews.com)
LPG subsidy in offing for students (ArthaExpress.com)
Jan 2
Housing emerges as most lucrative investment (ekantipur.com)
Investors chase after ADB/N share options (ekantipur.com)
Private firms thrilled over deregulated LPG (ekantipur.com)
500 Nepali workers died in gulf countries in 2007 (Nepalnews.com)
Jan 3
Can Valley await ‘multipurpose’ Melamchi? (ekantipur.com)
Govt mulls cash relief on LPG and kerosene (ekantipur.com)
Paddy prices jump on short supply (ekantipur.com)
Gold prices touch all-time high (ekantipur.com)
Jan 4
15 hrs a week power cut from Sunday (ekantipur.com)
BoP deficit may lead to crisis in forex reserves (ekantipur.com)
Handicraft exports from eastern region up (ekantipur.com)
Jan 5
Dairy farmers demand govt support (ekantipur.com)
MoFA help sought to check illegal labor exit (ekantipur.com)
Jan 6
124 MW free energy sought from Arun III, Upper KarnaliOne project per developer
Minister says Arun III, Upper Karnali will proceed despite Maoist opposition (Nepalnews.com)
New package for margin lending in the offing (Nepalnews.com)
Nepal Telecom's shares to be floated at Rs 600 (Nepalnews.com)
Minister promises 5,000 MW in 10 years (Nepalnews.com)
Experts consider new tourism product (ArthaExpress.com)
Jan 7
EPF set to invest Rs 12b in Upper Tamakoshi (ekantipur.com)
NT to slash rates from Feb 13 (ekantipur.com)
NAC has new chairman, MD (ekantipur.com)
Industrial Security Force soon: Mahat (ekantipur.com)
Karnali employment plan ‘a total failure’ (ekantipur.com)
AEPC gets Rs 32m for cutting CO2 emission (ekantipur.com)
Govt issues guidelines for network marketing (ArthaExpress.com)
Jan 8
Japan opens door to Nepali workers (ekantipur.com)
Varun to build luxurious Condos in Kathmandu (ekantipur.com)
Supply fluctuates in tandem with NOC payments (ekantipur.com)
Jan 9
Time to adopt blended fuel (ekantipur.com)
36 hours a week load shedding from today (ekantipur.com)
Nepal, Korea to sign pact on language test for workers (ekantipur.com)
Maoist chiefs tell traders not to worry (ekantipur.com)
Govt okays Oil Bonds issue (ekantipur.com)
Jan 10
Govt readies Rs 3b cash to bail out NOC (ekantipur.com)
SAFTA signatories discuss non-tariff barriers (ekantipur.com)
Processed tea production surges (ekantipur.com)
Minister Nepal wants Rs 40 billion budget in education (Nepalnews.com)
Maoists to promote private-public partnership (Nepalnews.com)
Microfinance summit on Feb 14-16 (ArthaExpress.com)
Nepal should harness wind power (ArthaExpress.com)
Jan 11
Taxi fare raised to Rs 20.50 per km (ekantipur.com)
Sanima to issue 20pc rights share (ekantipur.com)
India aid of Rs 29.84 million for road in Dhanusha (Nepalnews.com)
Govt readies Rs 3b cash to bail out NOC (ArthaExpress.com)
Jan 12
Days of cheap loans may end soon (ekantipur.com)
Workshop on mutual fund ends (ekantipur.com)
International job fair turns ugly (Nepalnews.com)
HTPL, NITDB sign supplementary accord (ArthaExpress.com)
Jan 13
Interview: RJ Group plans KFC, Pizza Hut in Nepal (ekantipur.com)
NMBFL to upgrade to commercial bank (ArthaExpress.com)
Jan 14
Yeti Airlines to go international (ekantipur.com)
Low on fuel again (ekantipur.com)
ADB pledges Rs 6.29 billion grant aid to Nepal (Nepalnews.com)
Industrialists warn of stir if problems not solved (Nepalnews.com)
Jan 15
Nepal loses Rs 2.17 b annually in disasters (ekantipur.com)
Vegetable prices plunge amid glut (ekantipur.com)
Rice shoots up to new high (ekantipur.com)
Govt decision to give Rs 1 million to MPs to be challenged in court (Nepalnews.com)
Nepali team to visit Israel (ArthaExpress.com)
Jan 16
No mechanism in Nepal to check bird flu (ekantipur.com)
SMEC to clarify West Seti stance by Jan-end (ekantipur.com)
Govt requests 3 billion rupees from donors (ekantipur.com)
Govt working to scrape Rs 8b for extra expenses (ekantipur.com)
NAC lacks pilots (ArthaExpress.com)
RBB management team gets extension (ArthaExpress.com)
Jan 17
NT shares auction hits small investors (ekantipur.com)
Tatopani customs to get new facilities (ekantipur.com)
‘Govt should take over Bishal Bazaar management’ (ekantipur.com)
Maoists close down Nagarkot hotels (ekantipur.com)
Khetan Group diversifies (Nepalnews.com)
Jan 18
4 new life insurance companies to open (ekantipur.com)
5.5pc growth achievable: NPC (ekantipur.com)
Nagarkot hotels back in business (ekantipur.com)
CAN unveils 2008 InfoTech schedule (ekantipur.com)
Jan 19
Nepali organic veggies in demand in India (ekantipur.com)
UTL starts pre-paid from today (ekantipur.com)
Govt to introduce programs for cooperatives (ArthaExpress.com)
Jan 20
Ministry starts talks with GMR for Upper Karnali (ekantipur.com)
Nepal, Qatar sign labor protocol (ekantipur.com)
Interview: ‘Days of low interest rates are ending’ (ekantipur.com)
BATAS' new showroom (ekantipur.com)
Govt refutes media reports of PM’s involvement in Indian currency racket (Nepalnews.com)
Ayurvedic medicines likely to be produced from yarchagumba soon (ArthaExpress.com)
Govt to help private sector build capacity (ArthaExpress.com)
Jan 21
India to provide only 15 MW of promised 40 MW (ekantipur.com)
Prices of major fuels up (ekantipur.com)
ADB/N to cut accumulated losses within 5 years (ekantipur.com)
Lasting peace prerequisite for economic development (ekantipur.com)
Yeti to begin int'l flights today (ekantipur.com)
NRN's plans to invest in hydro-electricity sector go kaput (Nepalnews.com)
Land price shoots up in Panchthar (ArthaExpress.com)
Jan 22
Roll back prices or hike fares: Entrepreneurs (ekantipur.com)
Fuel price protests grip valley (ekantipur.com)
Fuel price hike a compulsion: Govt (ekantipur.com)
Tarai bandas hit exports (ekantipur.com)
Work on Banepa-Khasa optical fiber starts (ekantipur.com)
Transporters announce 25 pc fare hike (Nepalnews.com)
New directive to stabilise secondary market (Nepalnews.com)
Jan 23
Govt relents on fuel prices (ekantipur.com)
ADB Melamchi loan commitment till 2013 (ekantipur.com)
Ex-workers threaten to shut down Jhimruk hydro (ekantipur.com)
NT opens IPO to sell 15m shares (ekantipur.com)
Surya Nepal workers launch strike (ekantipur.com)
Qatar now favorite labor destination (ekantipur.com)
Nepal Travel and Tourism Meet held in London (Nepalnews.com)
Jan 24
SC halts transactions in Rajguthi land (ekantipur.com)
GMR lands 300 MW Upper Karnali (ekantipur.com)
Veg ghee exports drop 50pc (ekantipur.com)
RBB earns a cool Rs 5b (ekantipur.com)
Budget deficit at Rs 9.8b (ekantipur.com)
Indefinite bandh hits life in Terai region (Nepalnews.com)
Petrol pumps want refund (Nepalnews.com)
43rd Anniversary : RBB urged to be competitive (ArthaExpress.com)
Jan 25
‘PPA rate soo for up to 10 MW projects’ (ekantipur.com)
ADB/N's share issue gets hopes high (ekantipur.com)
‘Lack of well-trained staff impeding customs services’ (ekantipur.com)
NRB mulls new base for price index (ekantipur.com)
Jan 26
Poll expense estimate up Rs 530m (ekantipur.com)
No bird flu here, say officials (Nepalnews.com)
Jan 27
KPMG yet to reply court on guv case (ekantipur.com)
Maoists begin 'tax' on vehicles (ekantipur.com)
Interview: ‘Nepal can lure more foreign students’ (ekantipur.com)
Yeti flies in int’l sky (ekantipur.com)
Govt to give Rs One billion to NOC (Nepalnews.com)
Jan 28
Diesel, kerosene crunch worsens (ekantipur.com)
Advertisements: Some socially sensitive, many insensitive (ekantipur.com)
Govt seeks support from developed trading partners (ekantipur.com)
NEPSE suspends trading after market takes a dive (ekantipur.com)
Nepal to update trade competitiveness study (ArthaExpress.com)
Jan 29
Upper Tamakoshi closer to realization (ekantipur.com)
Imprudent loans cost provident fund Rs 210m (ekantipur.com)
Rs 4b worth of securities to hit market (ekantipur.com)
Indian policy shift threatens Nepali jute mills (ekantipur.com)
CAN Info Tech kicks off (Nepalnews.com)
Jan 30
Nepal ready for jobs deal with Israel (ekantipur.com)
ADB pledges $25 million in grants for IT projects in rural Nepal (Nepalnews.com)
Nepal to get its first financial centre (ArthaExpress.com)
UTS is the largest taxpayer (ArthaExpress.com)
Jan 31
Workers disrupt Birgunj dry port operations (ekantipur.com)
WB, Nepal sign Rs 15.92b assistance agreement (ekantipur.com)
Transporters warn of indefinite strike (Nepalnews.com)
Diesel Shortage: 70 pc Public Vehicles ´Not Plying´ (ArthaExpress.com)
(ekantipur.com)
Tourist arrivals exceed half million (ekantipur.com)
Petrol becomes available, at last (ekantipur.com)
Finance Ministry releases Rs 54.66 b in five months (Nepalnews.com)
LPG subsidy in offing for students (ArthaExpress.com)
Jan 2
Housing emerges as most lucrative investment (ekantipur.com)
Investors chase after ADB/N share options (ekantipur.com)
Private firms thrilled over deregulated LPG (ekantipur.com)
500 Nepali workers died in gulf countries in 2007 (Nepalnews.com)
Jan 3
Can Valley await ‘multipurpose’ Melamchi? (ekantipur.com)
Govt mulls cash relief on LPG and kerosene (ekantipur.com)
Paddy prices jump on short supply (ekantipur.com)
Gold prices touch all-time high (ekantipur.com)
Jan 4
15 hrs a week power cut from Sunday (ekantipur.com)
BoP deficit may lead to crisis in forex reserves (ekantipur.com)
Handicraft exports from eastern region up (ekantipur.com)
Jan 5
Dairy farmers demand govt support (ekantipur.com)
MoFA help sought to check illegal labor exit (ekantipur.com)
Jan 6
124 MW free energy sought from Arun III, Upper KarnaliOne project per developer
Minister says Arun III, Upper Karnali will proceed despite Maoist opposition (Nepalnews.com)
New package for margin lending in the offing (Nepalnews.com)
Nepal Telecom's shares to be floated at Rs 600 (Nepalnews.com)
Minister promises 5,000 MW in 10 years (Nepalnews.com)
Experts consider new tourism product (ArthaExpress.com)
Jan 7
EPF set to invest Rs 12b in Upper Tamakoshi (ekantipur.com)
NT to slash rates from Feb 13 (ekantipur.com)
NAC has new chairman, MD (ekantipur.com)
Industrial Security Force soon: Mahat (ekantipur.com)
Karnali employment plan ‘a total failure’ (ekantipur.com)
AEPC gets Rs 32m for cutting CO2 emission (ekantipur.com)
Govt issues guidelines for network marketing (ArthaExpress.com)
Jan 8
Japan opens door to Nepali workers (ekantipur.com)
Varun to build luxurious Condos in Kathmandu (ekantipur.com)
Supply fluctuates in tandem with NOC payments (ekantipur.com)
Jan 9
Time to adopt blended fuel (ekantipur.com)
36 hours a week load shedding from today (ekantipur.com)
Nepal, Korea to sign pact on language test for workers (ekantipur.com)
Maoist chiefs tell traders not to worry (ekantipur.com)
Govt okays Oil Bonds issue (ekantipur.com)
Jan 10
Govt readies Rs 3b cash to bail out NOC (ekantipur.com)
SAFTA signatories discuss non-tariff barriers (ekantipur.com)
Processed tea production surges (ekantipur.com)
Minister Nepal wants Rs 40 billion budget in education (Nepalnews.com)
Maoists to promote private-public partnership (Nepalnews.com)
Microfinance summit on Feb 14-16 (ArthaExpress.com)
Nepal should harness wind power (ArthaExpress.com)
Jan 11
Taxi fare raised to Rs 20.50 per km (ekantipur.com)
Sanima to issue 20pc rights share (ekantipur.com)
India aid of Rs 29.84 million for road in Dhanusha (Nepalnews.com)
Govt readies Rs 3b cash to bail out NOC (ArthaExpress.com)
Jan 12
Days of cheap loans may end soon (ekantipur.com)
Workshop on mutual fund ends (ekantipur.com)
International job fair turns ugly (Nepalnews.com)
HTPL, NITDB sign supplementary accord (ArthaExpress.com)
Jan 13
Interview: RJ Group plans KFC, Pizza Hut in Nepal (ekantipur.com)
NMBFL to upgrade to commercial bank (ArthaExpress.com)
Jan 14
Yeti Airlines to go international (ekantipur.com)
Low on fuel again (ekantipur.com)
ADB pledges Rs 6.29 billion grant aid to Nepal (Nepalnews.com)
Industrialists warn of stir if problems not solved (Nepalnews.com)
Jan 15
Nepal loses Rs 2.17 b annually in disasters (ekantipur.com)
Vegetable prices plunge amid glut (ekantipur.com)
Rice shoots up to new high (ekantipur.com)
Govt decision to give Rs 1 million to MPs to be challenged in court (Nepalnews.com)
Nepali team to visit Israel (ArthaExpress.com)
Jan 16
No mechanism in Nepal to check bird flu (ekantipur.com)
SMEC to clarify West Seti stance by Jan-end (ekantipur.com)
Govt requests 3 billion rupees from donors (ekantipur.com)
Govt working to scrape Rs 8b for extra expenses (ekantipur.com)
NAC lacks pilots (ArthaExpress.com)
RBB management team gets extension (ArthaExpress.com)
Jan 17
NT shares auction hits small investors (ekantipur.com)
Tatopani customs to get new facilities (ekantipur.com)
‘Govt should take over Bishal Bazaar management’ (ekantipur.com)
Maoists close down Nagarkot hotels (ekantipur.com)
Khetan Group diversifies (Nepalnews.com)
Jan 18
4 new life insurance companies to open (ekantipur.com)
5.5pc growth achievable: NPC (ekantipur.com)
Nagarkot hotels back in business (ekantipur.com)
CAN unveils 2008 InfoTech schedule (ekantipur.com)
Jan 19
Nepali organic veggies in demand in India (ekantipur.com)
UTL starts pre-paid from today (ekantipur.com)
Govt to introduce programs for cooperatives (ArthaExpress.com)
Jan 20
Ministry starts talks with GMR for Upper Karnali (ekantipur.com)
Nepal, Qatar sign labor protocol (ekantipur.com)
Interview: ‘Days of low interest rates are ending’ (ekantipur.com)
BATAS' new showroom (ekantipur.com)
Govt refutes media reports of PM’s involvement in Indian currency racket (Nepalnews.com)
Ayurvedic medicines likely to be produced from yarchagumba soon (ArthaExpress.com)
Govt to help private sector build capacity (ArthaExpress.com)
Jan 21
India to provide only 15 MW of promised 40 MW (ekantipur.com)
Prices of major fuels up (ekantipur.com)
ADB/N to cut accumulated losses within 5 years (ekantipur.com)
Lasting peace prerequisite for economic development (ekantipur.com)
Yeti to begin int'l flights today (ekantipur.com)
NRN's plans to invest in hydro-electricity sector go kaput (Nepalnews.com)
Land price shoots up in Panchthar (ArthaExpress.com)
Jan 22
Roll back prices or hike fares: Entrepreneurs (ekantipur.com)
Fuel price protests grip valley (ekantipur.com)
Fuel price hike a compulsion: Govt (ekantipur.com)
Tarai bandas hit exports (ekantipur.com)
Work on Banepa-Khasa optical fiber starts (ekantipur.com)
Transporters announce 25 pc fare hike (Nepalnews.com)
New directive to stabilise secondary market (Nepalnews.com)
Jan 23
Govt relents on fuel prices (ekantipur.com)
ADB Melamchi loan commitment till 2013 (ekantipur.com)
Ex-workers threaten to shut down Jhimruk hydro (ekantipur.com)
NT opens IPO to sell 15m shares (ekantipur.com)
Surya Nepal workers launch strike (ekantipur.com)
Qatar now favorite labor destination (ekantipur.com)
Nepal Travel and Tourism Meet held in London (Nepalnews.com)
Jan 24
SC halts transactions in Rajguthi land (ekantipur.com)
GMR lands 300 MW Upper Karnali (ekantipur.com)
Veg ghee exports drop 50pc (ekantipur.com)
RBB earns a cool Rs 5b (ekantipur.com)
Budget deficit at Rs 9.8b (ekantipur.com)
Indefinite bandh hits life in Terai region (Nepalnews.com)
Petrol pumps want refund (Nepalnews.com)
43rd Anniversary : RBB urged to be competitive (ArthaExpress.com)
Jan 25
‘PPA rate soo for up to 10 MW projects’ (ekantipur.com)
ADB/N's share issue gets hopes high (ekantipur.com)
‘Lack of well-trained staff impeding customs services’ (ekantipur.com)
NRB mulls new base for price index (ekantipur.com)
Jan 26
Poll expense estimate up Rs 530m (ekantipur.com)
No bird flu here, say officials (Nepalnews.com)
Jan 27
KPMG yet to reply court on guv case (ekantipur.com)
Maoists begin 'tax' on vehicles (ekantipur.com)
Interview: ‘Nepal can lure more foreign students’ (ekantipur.com)
Yeti flies in int’l sky (ekantipur.com)
Govt to give Rs One billion to NOC (Nepalnews.com)
Jan 28
Diesel, kerosene crunch worsens (ekantipur.com)
Advertisements: Some socially sensitive, many insensitive (ekantipur.com)
Govt seeks support from developed trading partners (ekantipur.com)
NEPSE suspends trading after market takes a dive (ekantipur.com)
Nepal to update trade competitiveness study (ArthaExpress.com)
Jan 29
Upper Tamakoshi closer to realization (ekantipur.com)
Imprudent loans cost provident fund Rs 210m (ekantipur.com)
Rs 4b worth of securities to hit market (ekantipur.com)
Indian policy shift threatens Nepali jute mills (ekantipur.com)
CAN Info Tech kicks off (Nepalnews.com)
Jan 30
Nepal ready for jobs deal with Israel (ekantipur.com)
ADB pledges $25 million in grants for IT projects in rural Nepal (Nepalnews.com)
Nepal to get its first financial centre (ArthaExpress.com)
UTS is the largest taxpayer (ArthaExpress.com)
Jan 31
Workers disrupt Birgunj dry port operations (ekantipur.com)
WB, Nepal sign Rs 15.92b assistance agreement (ekantipur.com)
Transporters warn of indefinite strike (Nepalnews.com)
Diesel Shortage: 70 pc Public Vehicles ´Not Plying´ (ArthaExpress.com)
(ekantipur.com)
Subscribe to:
Posts (Atom)