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A fierce dispute has erupted between the Nepali Congress and the CPN (Maoist Center) on who will become the prime minister in the first phase. The Congress leaders have been trying to convince Maoist Center Chairman Pushpa Kamal Dahal after he expressed his reluctance to leave the prime minister in the first phase. NC leader Prakash Man Singh reached Khumaltar on Friday to hold a discussion with Dahal on the same issue. It has been learnt that Prime Minister Sher Bahadur Deuba sent Singh to Khumaltar to discuss with Dahal on his side. Deuba has been trying to persuade Dahal through various ways but Dahal is adamant on his stance of not quitting the post. During the meeting held this morning, Singh told Dahal that Deuba should be made the prime minister in the first phase. Congress leader Singh had said that they would share other posts in consensus after making Deuba the prime minister. But, Dahal said that national and international agencies are on his side and decided not to leave his stand of being the prime minister in the first phase. “You are all aware that we are also having discussions with the CPN-UML. Deubaji is still the prime minister. I will be the prime minister now and Deuba will become the prime minister after two years,” a leader said, quoting Dahal. During the meeting with Singh, Dahal warned that a crisis could emerge in the coalition if he did not become the prime minister in the first phase from the ruling alliance.

The government has endorsed the Trade Logistics Policy 2022, targeting to reduce the costs for both internal and external trade. Narayan Prasad Regmi, Spokesperson of the Ministry of Industry, Commerce and Supplies (MoICS), said the government has introduced the policy in order to build trade related infrastructure. “This will help reduce trading costs of entrepreneurs,” he said. The new policy has identified three objectives and 13 strategies, which are mainly related to the development of trade related infrastructure, service and good governance. There are more than three dozen government agencies and private organizations that are associated with facilitating the country’s trade. However, lack of coordination among these agencies and poor infrastructure has led to the duplication in investment in a number of cases, while traders suffer for not having the necessary logistics in others. The policy has envisioned developing Nepal as an economic corridor through the development of various transport networks. For effective implementation of the policy, a 14-member task force has been formed under the MoICS secretary. The policy aims at constructing and operating trade related infrastructure in an integrated way. To facilitate domestic and foreign investment to build such infrastructure, coordination with stakeholders to improve the quality of trade infrastructure, capacity building of the service providers, increase access of micro, small and medium industries in trade logistics, use of innovative technologies to enhance supply chain and development of a master plan for construction of infrastructure for integrated trading system. Traders and freight forwarders however criticized the newly enforced policy, saying that it has floated vague ideas and has failed to address the underlying real problems in the country’s domestic and international trade. “Most of all, it has been developed just to please donor agencies and imposed unilaterally by ignoring the inputs provided by the stakeholders,” said a freight forwarder operator on condition of anonymity. In lacking trade logistics, traders have been facing excessive costs for transit, transport, delivery, storage and official procedures. On average, the traders have to bear around 28-32 percent more costs on top of the purchase price of the goods. According to the experts, the policy has failed to address the issues related to intermodal, and multimodal warehouses, among others, which are the key issues for reducing the costs of trading. “Rather than realizing the country-specific requirements, the policy represents an imitation of the policy implemented in other countries,” the source said. Currently, the importers are required to pre-inform the authorities concerned about the mode of importing goods, whether it is a railway or roadways. However, the policy does not talk about providing freedom to importers to change their decision in between. “Even the cargo transport routes and selling destinations cannot be altered other than the previously mentioned,” an importer said. According to the trader, the policy fails to talk about warehouse provision. “There is no clarity regarding the provision of bonded and non-bonded warehouses and related tax issues, which are the crucial parts of trade logistics.” In 2016, the World Bank in its report titled ‘From Evidence to Policy: Supporting Nepal’s Trade Integration Strategy underlined the role of improved trade logistics for the Nepali economy. It looked at Nepal’s current participation in global markets and made recommendations on how the country can increase trade integration and boost its economy. The report suggests that Nepal is in dire need of an economic transformation, which would require a shift away from remittance-fueled growth to growth driven by productivity and investment.

Amid the continuing bearish run in the domestic stock market, share prices of 25 companies have fallen below Rs 200 in the Nepal Stock Exchange (Nepse). On Thursday, the last trading day of the week, shares of 14 hydropower companies and 10 commercial banks were traded below Rs 200. The share price of Global IME Bank dropped to Rs 198.50 while the stocks of Sunrise Bank and Bank of Kathmandu fell to Rs 181 and Rs 197, respectively. Similarly, the share price of Kumari Bank has plunged to Rs 181, Prabhu to Rs 185.2, Citizens Bank to Rs 176, Century Commercial Bank to Rs 178.5, Mega Bank to Rs 187, NCC Bank to Rs 176.7 and Laxmi Bank to Rs 189.5. Of these 10 banks, Sunrise and Laxmi Bank have announced that they will not distribute dividends this year. The same is the story of hydropower companies. As banks tightened the margin loans following directives from the Nepal Rastra Bank, the hydropower sector that recorded the highest gain in the last bull run, is now going through a lean patch. Till one year ago, hydropower was one of the most preferred sectors of domestic investors as share prices of hydropower companies rose to new highs. On Thursday, the Nepse index decreased by 0.01 points to close at 1867.21 points. With parties now exploring new government formation, the investors also are in 'wait and watch' mode. With banks' interest rates still on the higher side and the liquidity crunch still continuing, investors are not in the mood for making new investments in stocks till new government formation. Box Companies whose share prices are below Rs 200

CPN (Maoist Center) Chairman Pushpa Kamal Dahal is likely to lead the new coalition government.

According to sources, Nepali Congress President and current Prime Minister Sher Bahadur Deuba has tentatively agreed to hand over the government leadership to Dahal for 2.5 years, after which the former will become the prime minister.

It is almost agreed that NC will get the president and Maoist prime minister, while discussions aimed at forming provincial governments are underway, said a top NC leader requesting anonymity.

CPN (Unified Socialist) and other fringe parties are ready to support Dahal for securing majority votes in the parliament.

On Thursday, Maoist party selected Dahal as the party's parliamentary party leader. A Maoist leader said as parties have agreed to keep the current coalition intact, sharing of major positions among its members is natural.

From Thursday evening, current coalition partners are in intensive discussion to finalize the power-sharing deal.

CPN (Maoist Center) Pushpa Kamal Dahal has been elected as the party’s Parliamentary Party leader. A Parliamentary Party meeting held in Singha Durbar on Thursday unanimously elected Dahal as the party leader. Hit Raj Pandey has been elected as the chief whip. Similarly, Narayan Kaji Shrestha has been picked as the party leader of the National Assembly. The Maoist Center won 32 seats in the recently held elections. A meeting of the office bearers was held prior to the Parliamentary Party meeting. The meeting discussed power sharing and future strategy among other issues.

The Nepal Stock Exchange (NEPSE) plunged by 0. 01 points to close at 1,867.21 points on Thursday. Similarly, the sensitive index surged by 1. 72 points to close at 367. 06 points. A total of 3,111,833 unit shares of 247 companies were traded for Rs 1. 11 billion. Meanwhile, Srijanshil Laghubitta Bittiya Sanstha Lmited was the top gainer today with its price surging by 10. 00 percent. Likewise, Adhikhola Laghubitta Bittiya Sanstha Limited was the top loser with its price dropped by 7. 70 percent. At the end of the day, the total market capitalization stood at Rs 2. 70 trillion.

Newly elected lawmakers took the oath of office and secrecy on Thursday. Senior member of the Parliament Pashupati Shumsher JB Rana administered the oath of office secrecy amidst a program at the New Baneshwor-based Parliament building this afternoon. Rana took the oath of office and secrecy from President Bidya Devi Bhandari on Wednesday. Almost all the lawmakers had reached the Parliament building wearing national dress and some wearing customs that reflect their cultural identity. As many as 14 lawmakers took the oath in their mother tongue. The lawmakers took the oath 33 days after the election to the House of Representatives. There are 275 lawmakers in the Parliament. The logos were also distributed to the lawmakers after the oath taking ceremony.  

Newly elected lawmakers have reached the Parliament building to take the oath of office and secrecy on Thursday. They will take the oath of office secrecy amidst a program at the New Baneshwor-based Parliament building at 1 pm today. Almost all the lawmakers have reached the Parliament building wearing national dress and some wearing customs that reflect their cultural identity. Senior member of the Parliament Pashupati Shumsher JB Rana will administer the oath of office and secrecy to the newly elected lawmakers.