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Despite its promises to reform public enterprises (PEs), the government once again announced that some of the closed state-owned factories would be brought into operation. The government's policies and programs for the fiscal year 2023/24 reads that Hetauda Kapada Udyog, Gorakhkali Rubber Udyog, and Butwal Dhago Udyog be reopened for operation. The government’s announcement to run these defunct companies has come at a time when it has promised reforms of PEs that are using state resources without offering any noticeable benefits for the country and the people. While the government is seeking budgetary support of $200m from the Asian Development Bank (ADB), one of the conditions put forward by the Asian lender is that Nepal needs to commit to reforming PEs. A cabinet meeting on April 18 decided to form a public enterprises recommendation committee headed by former government secretary Shankar Prasad Adhikari. “If the government insists on running the closed state-owned factories without viable plans that require no extra injection of public money, there is the question about whether donors will be happy about the government’s move,” said an expert on public enterprises who chaired a task force on reforming PEs in the past. “It is better to let these companies remain closed if they are not operated commercially and independently outside the government and politicians’ influence,” the expert said, adding that the government has been forced to inject huge amounts of its resources into badly run public enterprises. The government is currently in negotiation with the ADB to secure $200m as the government has a gap in financial resources for its failure to collect enough revenue. The government wants to get funding from multilateral donors in the form of budgetary support which the government can utilize in its prioritized sector. Donors want reforms in PEs and they have been suggesting against recklessly pouring public money into such enterprises. Among the three factories, Hetauda Kapada Udyog, a textiles manufacturer, has remained closed since 2000 after it ran under huge losses and was subsequently liquidated in 2013. It is owned by Industrial District Management Limited. The factory is spread over 8 acres and possesses machines used in making thread, dyeing, and spinning. In fact, a task force headed by Economist Pushkar Bajracharya had even suggested the government let the factory be operated by the Nepal Army to produce necessary clothing items for it. Likewise, Gorakhkali Rubber Udyog, a state-owned tire company, has remained defunct since 2012. The loss-making entity incurred a net loss of Rs 685.5m in the fiscal year 2018/19 while its cumulative losses in the fiscal year 2018/19 amounted to Rs 631.5m, according to the Annual Performance Review of the Public Enterprises 2022 published by the finance ministry. It has the outstanding dues of loans to be paid as of 2018/19 stand at Rs 1.55bn. The factory needs to manufacture radial tires as per the market demands and new plants need to be established if it is operated, according to the annual performance review report. “For this, around Rs 2bn in investment is needed,” it said. According to the report, there had been a discussion about running it by giving it on a lease. Butwal Dhago Karkhana was established in 1983 with the aim of exporting yarn and thread to the international market. The mill started production in 1991, but within a decade its situation deteriorated as the trade union and employees attached to various political parties ran it into the ground with their endless strikes and interference.

The CPN (Maoist Center) has decided to pull out of the Madhes government. The Parliamentary Party of the CPN (Maoist Center) has decided to recall Tourism, Forest and Environment Minister Sunita Yadav and state minister Rahabir Ansari. The CPN (Maoist Center), Janamat Party and Democratic Socialist Party Nepal are holding a meeting at present, Maoist Center leader and state minister Rahabir Ansari said.    

Double amputee Hari Bahadur Budha Magar, who scaled Mt Everest on May 19, has been welcomed at the Tribhuvan International Airport on Tuesday. Minister for Culture, Tourism and Civil Aviation Sudan Kiranti, tourism entrepreneurs and Magar Community welcomed Budha at TIA. Photos: Sunita Dangol Budha Magar arrived in Kathmandu from Lukla this afternoon. Also an ex-Gurkha army, Budha Magar had reached atop the world's highest peak on May 19. With this, he has set a record to become the first double amputee mountaineer climbing Everest.  He had scaled Mt Everest with the support of prosthesis. On the occasion, Minister Kiranti congratulated climber Budha Magar, saying he had shown indomitable courage time and again in his life. Minister Kiranti said, "Budha Magar has given a new message from the top of Everest. He has given a message to the world community that nothing is impossible through hard work and willpower." Similarly, climber Budha Magar extended special gratitude to the team helping him for the success. He said, "My attempt to scale Everest would not have been successful without the team that helped me to reach atop the highest peak putting their life at risk." Budha Magar had lost both legs below the knee to an IED explosion in Afghanistan in 2010.

Two more commercial banks have finalized their merger. Laxmi Bank and Sunrise Bank have inked the final agreement for the merger on Monday. Both banks decided to move forward on an equal basis of a 1:1 swap ratio based on the due diligence reports. Both banks will now hold a special general meeting to endorse the merger proposal. The merged entity will be named Laxmi Sunrise Bank. Post-merger, Ajay Bikram Shah, the current CEO of Laxmi Bank will lead the merged entity. The current CEO of Sunrise Bank, Suman Sharma will exit the bank after the date of the integrated transaction is decided. It has been agreed that there will be three directors each from Laxmi Bank and Sunrise Bank on the board of the new entity. Motilal Dugar, Malchand Dugar and Bachhraj Tater will be appointed from Sunrise Bank while Raman Nepal, Swati Roongta and Manish Thapa will represent Laxmi Bank in the merged entity. Currently, the paid-up capital of Laxmi Bank is Rs 11.55bn and Sunrise Bank is Rs 10.11bn. After the merger, the paid-up capital will increase to Rs 21.65bn. Both banks had signed a merger MoU in the second week of January this year. Following this, a merger committee, comprising four members (two each from both banks) has been formed to finalize the merger. The total number of commercial banks in the country will come down to 20 from the current 21 once Laxmi and Sunrise begin their unified business. The total number of commercial banks that had reached a high of 32 in 2014. In terms of banking consolidation, the first half of FY 2022/23 was historic. The first six months of the current fiscal year saw three mergers and one acquisition in the banking sector. Kumari Bank and NCC Bank started unified business on Jan 1. The second week of January saw two mergers and one acquisition becoming successful in the Nepali banking sector; the Global IME Bank and Bank of Kathmandu merged and commenced their unified business and Prabhu Bank acquired Century Commercial Bank. Nepal Investment Bank and Mega Bank completed their merger and commenced business as Nepal Investment Mega Bank.  

Noted climber Kami Rita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reached the summit of the world's highest peak at 9: 23 am today. With this, he broke his previous record of the highest number of ascents on Mt Everest. This is his second expedition to the world's highest peak this spring. He scaled the peak for the 27th time just a week ago on May 17. The 53-year-old climber has a record of 40 summits to the mountains above 8, 000 meters including Choyu (eighth time), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time this spring on May 22, equalizing the record with Kami Rita. Now, Kami Rita broke his own record by reaching the top of the world for the 28th time. In Nepal's 70-year-old expedition history, the Department of Tourism issued the highest number of permits for mountain climbing this spring. According to the Department, 478 climbers of 44 expedition teams acquired permission for climbing mountains in Nepal.    

The price of gold has dropped by Rs 800 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 109, 200 per tola today. The yellow metal was traded at Rs 110, 000 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 108, 700 per tola. It was traded at Rs 109, 500. Similarly, the silver is being traded at Rs 1,365 per tola today.

At a time when Nepal’s overall exports have declined as shown by the trade data of the current fiscal year, the exports of woolen carpets and large cardamom have surged significantly. While the country's overall exports declined by 24.49 percent in the 10 months of FY 2022/23, the exports of woolen carpet and cardamom have increased by 23.21 percent and 72.46 percent, respectively. The latest foreign trade data released by the Department of Customs (DoC) on Sunday shows Nepal exported woolen carpets worth Rs 9.49bn from mid-July, 2022 to mid-May, 2023. The carpet exports during the same period of the last fiscal year stood at Rs 7.70bn. The export of cardamom has hit an all-time high with the country exporting cardamom worth 7.28bn in the review period. According to DoC statistics, the United States is the largest market for Nepali woolen carpets. Nepal exported carpets worth Rs 5.87bn to the US in the current fiscal year. Germany and the United Kingdom are the second and third largest buyers of Nepali carpets. The carpet exports to Germany and the United Kingdom stood at Rs 739.4m and Rs 630m, respectively. However, Tenzing Sherpa, President of the Nepal Carpet Producers and Exporters Association said that the export of carpets has not increased as expected. “The government data shows the rise in carpet exports. It is due to the increased demand for Nepali carpets in the world market,” said Sherpa. According to Sherpa, there is a demand for branded and quality woolen carpets, especially for celebrities and high-profile people. "If the government supports the carpet manufacturers, the export of carpets can be increased by four times," he said. Carpet manufacturers say they are able to fulfill the increased demand in the international markets but the cost of production of carpets in Nepal is high which makes it difficult for Nepali carpets to compete with products of other countries. Currently, the government has exempted tax for wool that is imported from abroad. There is no such exemption for other raw materials. Also, carpets have to be woven by hand, which requires very good skills. However, such skilled workers are insufficient in the Nepali labor market. “If the government provides us custom exemptions to all the raw materials required for producing carpets, provides skills training for workers, and supports in market promotion, export of Nepali woolen carpets in the global market would rise significantly,” said Sherpa. High growth in cardamom exports The exports of cardamom have increased by a whopping 72.46 percent in FY 2022/23. Nepal has exported cardamom worth Rs 7.28 billion in the first 10 months of the current fiscal year compared to Rs 4.22bn during the same period of the last fiscal year. Cardamom, which is especially used in the production of spices, is mainly exported to India. In the current fiscal year, cardamom worth Rs 7.26bn was exported to the southern neighbor. According to Nirmal Bhattarai, Chairman of the Large Cardamom Entrepreneurs Association of Nepal, the exports of cardamom have increased due to the surge in production in the country. Cardamom is produced especially in Nepal, India, and Bhutan. While cardamom production in India and Bhutan has decreased this year, in Nepal, its production has increased by 50 percent this year. “This has helped us to export more cardamom this year,” said Bhattarai. According to Bhattarai, the price of cardamom decreased in May and June of last year. “Traders did not sell cardamom during that time,” said Bhattarai, “The price came back to normal from the beginning of the current year, following which traders sold their stocks of cardamom.” With the decline in production in India and Bhutan, the demand for Nepali cardamom has increased, resulting in the surge of its exports from Nepal. Cardamom is cultivated on 18,000 hectares of land in Nepal. Large cardamom is cultivated predominantly in four districts of eastern Nepal—Taplejung, Panchthar, Ilam, and Sankhuwasabha.

I’m a 21-year-old woman and I’m confused about my sexual orientation. I think I like both men and women. But accepting that is difficult, especially because our society isn’t open about these things. I’m afraid of exploring my sexual orientation and how I feel about it. I push people away because I’m afraid that my feelings won’t be validated or that people will judge me. I haven’t even been able to share this with my family and friends. I just need some helpful advice on how I can overcome this fear and live a life where I’m not hiding who I truly am. Please help!—A confused soul  Answered by Kapil Sharma, counseling psychologist, Nepal Institute of Mental Health I understand that discussing your sexual orientation can be difficult. It’s not something our society openly talks about either. It’s natural to feel anxious and afraid of judgment. This is something many people frequently go through because of the social taboos and stereotypes in our society. But at the same time, you must realize that your happiness and sanity matter the most.  One of the things that’s bothering you is the uncertainty you have when it comes to your sexual orientation. You might sometimes wonder why you’re acting a certain way and might not have any answers. But then you are unable to share how you feel with anyone. So before anything else, I think it’s important to clear out those confusions.  But the thing is, the confusion won’t go away unless you talk about it. Maybe you aren’t comfortable talking about it with your friends or family. But if there is anyone who you think will understand what you’re going through, and will acknowledge your feelings, talk to them. If not, you can start by attending psychoeducation sessions with a mental health professional. There, you can learn facts about gender identities and sexual orientation that will help you understand what you’re going through.  Uncertainties will not only affect your mental health but also take a toll on your relationships with others. For instance, not being clear about what you want in a romantic relationship might compel you to push away everyone around you, especially to avoid having feelings towards them. But that will only make you lonely and your mental health will get worse. So doing everything you can do to get rid of that uncertainty is important. And that includes accepting yourself for who you are. Our society has forced us to internalize shame and guilt when we don’t fit into their standards. And there are going to be instances where your emotions get triggered despite you accepting yourself. So, it’s important to know what those triggering factors are and how you can deal with them. For that, you will need a supportive environment as well as people around you.  If it helps, I think you should attend talk sessions or events where people going through the same as you share their experiences. You’ll know that you aren’t alone in this. When you’re comfortable, you can share your experiences too. But if it gets too difficult, I think it’s best to seek help from a professional. Getting the right kind of therapy can assist you in navigating and overcoming all your difficulties.