Submit your Article

Bagmati Province Chief Minister Shalikram Jamarkattel is seeking a vote of confidence on March 22. Province Assembly Secretariat Chief Secretary Krishna Hari Khadka said that Chief Minister jamarkattel, who fell into minority after the Rastriya Prajatantra Party withdrew the support, is scheduled to seek a vote of confidence in the Province Assembly meeting on March 22. With the change in the political equation at the center, three ministers representing the Rastriya Prajatantra Party in the Cabinet in the Bagmati Province resigned a few weeks ago. The incumbent government fell into minority after the Rastriya Prajatantra Party withdrew support extended to the government. Earlier on January 10, the Cabinet was formed with Shalikram Jamarkattel as the Chief Minister, Jagannath Thapaliya as the Economic Affairs and Planning Minister and Uddhav Thapa as the Energy, Water Resource and Irrigation Minister from the joint alliance of the CPN-UML, CPN (Maoist Center) and Rastriya Prajatantra Party. The current Cabinet includes only the ministers of the CPN (Maoist Center) and the CPN-UML.    

Commemorating the contribution of Nepali female political leaders Itihasko Harayeka Pana: The Tyranny of Exclusion, a photography exhibition was held at Patan Museum recently. The exhibition showcased around 90 photos of female political leaders. A historical chronology of leaders from Yogmaya Neupane to the recent leader Sobita Gautam. Historic photographs of Bidya Devi Bhandari in politics during her student days, Onsari Gharti Magar in People’s War; photos of Astalaxmi Shakya, Sahana Pradhan protesting outside the Singhadurbar; Mangala Devi addressing public in Tundikhel, Shailaja Acharya delegating in International conferences and many others were exhibited in the event. The exhibition also tried to cover various political movements that happened in different time periods in the country such as People’s Movement I, People’s Movement II, Tharu Movement, Terai Movement, Maoist Insurgency Period, where women were seen in action and power. Considering the historical oppression and current underrepresentation of women in governmental domains, the project aimed to challenge traditional narrative that often downplays their contributions and exhibited significant roles played by women in shaping the political landscape of Nepal. The exhibition was curated and organized by Mega Maskey, Abhijeet Adhikari and Satyam Shiva Mishra, with the support of Nepal Leadership Academy and International Republican Institute.

Japanese Ambassador to Nepal Kikuta Yutaka hosted a reception at his official residence in Tahachal on Wednesday to celebrate the 63rd auspicious birthday of His Majesty Emperor Naruhito. Around 400 guests including Vice-President Nanda Bahadur Pun, National Assembly Vice-Chairperson Urmila Aryal, former prime ministers, former ministers, ambassadors and Heads of International Organizations in Nepal, members of the Federal Parliament and government officials among others attended the program, read a statement issued by the Embassy of Japan in Nepal. Ambassador Kikuta welcomed all the guests mentioning his pleasure at finally being able to host the reception after three years. It is the fifth year of the “Reiwa (beautiful harmony)” Era in Japan, which started in 2019. In October, 2019, former President Bidya Devi Bhandari had attended the Ceremonies of the Accession to the Throne of the Emperor. The Ambassador also said that the high-level exchanges stalled by COVID-19, had resumed with the visit of Takei Shunsuke, State Minister for Foreign Affairs of Japan, to Nepal last November. On the occasion, the Foreign Minister's Commendation for Fiscal Year 2022 was presented to Japanese Universities Alumni Association, Nepal (JUAAN). The year 2022 marked the 120th anniversary since the first eight Nepali students were dispatched to Japan and this year marks the 50th anniversary of the establishment of JUAAN. The Commendation was awarded in recognition of JUAAN’s contribution to the long history of educational exchanges between Japan and Nepal. Dr Prabin Shrestha, the President of JUAAN delivered a thank-you speech in the program.

The Rastriya Prajatantra Party has decided not to vote in the vice-presidential election. A Central Work Execution Committee meeting of the Rastriya Prajatantra Party held on Wednesday has decided not to vote in the upcoming vice-presidential election. Party spokesperson Mohan Kumar Shrestha said that the party has decided to stay neutral in the vice-presidential election. Saying that the government’s decision to increase the price and reduce subsidy given to farmers on the purchase of chemical fertilizers is inhuman and unfair, the party has demanded that the government roll back its decision at the earliest, he said. The party has drawn the attention of the government to establish a chemical fertilizer factory in the country for a long-term solution of the recurring problem of chemical fertilizer.  

The Nepal Stock Exchange (NEPSE) plunged by 14. 44 points to close at 1,938.62 points on Wednesday. Similarly, the sensitive index dropped by 3. 03 points to close at 365. 29 points. A total of 3,716,684 unit shares of 253 companies were traded for Rs 1. 20 billion. Meanwhile, Unique Nepal Laghubitta Bittiya Sanstha Limited and Shuvam Power Limited were the top gainers today with their price surging by 9. 99 percent. Likewise, Kisan Laghubitta Bittiya Sanstha Limited was the top loser with its price dropped by 5. 90 percent. At the end of the day, the total market capitalization stood at Rs 2. 80 trillion.

Prime Minister Pushpa Kamal Dahal has said that the government is seriously working on further simplifying the procedures, fully operationalizing the one-stop service, and developing necessary rules for the automatic approval of foreign direct investments (FDIs) applications. Addressing the Nepal China Business Forum 2023 organized by the Confederation of Nepalese Industries (CNI) and China Council for the promotion of International Trade (CCPIT) in Kathmandu on Tuesday, Dahal said that the government stands ready to offer all legitimate assistance to Chinese companies interested in investing in Nepal. "Nepal counts on Chinese investment in filling its financial and technological gaps in priority areas," he said. Prime Minister Dahal also called for reducing the growing trade deficit with China while presenting Nepal as an attractive investment destination for Chinese enterprises. Dahal urged China to do more in allowing duty-free market access to Nepali goods and ensure investments promised by the Chinese investors turn into reality. “Nepal’s growing trade deficit with China and the apparent gaps in commitment and actual FDI from China are some of the issues that a forum like this should try to address with a practical solution,” said Dahal. Nepal imported goods worth Rs 265bn from China during the fiscal year 2021/22 whereas Nepal’s exports to China stood at a meager Rs 810m, according to Trade and Export Promotion Centre (TPEC). “We have also requested the Chinese side to help enhance productive capacity in a range of products of our comparative advantage and enlist vegetables, meat products, tea, and herbal products in the General Administration of Customs of China (GACC),” said Dahal. He said that Nepal has also requested the Chinese side to include some 512 tradable Nepali products in the list of duty-free and quota-free (DFQF) facilities on a preferential basis. “These measures will be important to reduce Nepal’s trade deficit with China,” he added. Though China has accorded the DFQF facility for over 8,000 Nepali goods to enter China, Nepal has hardly been able to export those goods. Nepali exporters have long been complaining about non-tariff hurdles from the Chinese authorities. In the last three years, China didn’t open its border for the exports of Nepali goods citing the risk of Covid-19 as the northern neighbor adopted a strict zero Covid policy. Beijing allowed Nepal's exports to pass into China through the Kerung-Rasuwagadhi border only in late December 2022 after keeping it shut to two-way traffic for three years. Chinese goods have been entering Nepal intermittently through Kerung, one of the two international border points on the Nepal-China border, but it was no go in the other direction. As a result, Nepal’s exports to China suffered badly. Nepal’s private sector highlighted the massive trade deficit of Nepal with China during the event. “The growing trade deficit is becoming a challenge for Nepal. It is unlikely that the trade balance between the two countries will be achieved immediately. However, it can be reduced,” said Vishnu Kumar Agarwal, president of CNI. “We are also looking for Chinese investment for that (reducing trade deficit).” The Chinese side also appeared to acknowledge this fact. Zhang Shaogang, vice chairperson of CCPIT said despite having many attractive products in Nepal, their visibility is yet to be enhanced among Chinese consumers. “As China’s largest trade and investment promotion agency, CCPIT will continue to host more trade and investment promotion events, in order to boost imports of Nepal’s premium products, including artworks, wool products, garments, agricultural products, tea, and Chinese herbs,” he said. Despite being a neighbor next door, China does not even fall into the top 10 export destinations of Nepal. In the last fiscal year, China was the 12 largest export destination for Nepal, according to TEPC. During the event, the Nepali side called for the realization of Chinese investment commitments into actual investment. Though China has been topping the list in terms of FDI commitments in the last seven fiscal years, there have been gaps in commitment and actual investment. Prime Minister Dahal highlighted the apparent gaps in commitment and actual investment of FDI from China. He also highlighted the number of measures the government was adopting to attract foreign investment in Nepal while also assuring policy stability. Dahal claimed that Nepal has made major reforms in its investment regime that encourage, promote and protect FDIs. “Our tax slabs are one of the lowest and our position is fairly good in ease of doing business. Investment in any sector is profitable in our country given the nascent stage of our industrial development,” he added. Zhang said that Chinese enterprises could mainly invest in the areas of infrastructure. “Nepal has a huge demand for infrastructure development and investment in a wide range of areas like power stations, communications, and road construction,” he said, adding, “China has a sound industrial system and advantages in capital and technology.”

The Investment Board Nepal (IBN) and Suryatara Cement Udhyog are preparing to sign a memorandum of understanding (MoU) for the proposed project development of a cement industry in Surkhet district. Both sides are readying to sign the deal a year after the approval of the investment proposal for the project. Suryatara has planned to establish a cement industry in Surkhet of Karnali province. The company on March 31, 2022) received approval for investing Rs 14.27bn from IBN. According to an IBN official, the draft of the MoU has been prepared and will be finalized soon before the deal is signed. According to Ramesh Adhikari, Assistant Spokesperson of IBN, the company did not contact the board for a long time after getting the investment approval. "Now as the company has come in contact, the process of MoU has moved ahead," he said. After the MoU, IBN and Suryatara will have to sign the project implementation agreement. For this purpose, the company has to complete the financial closure. As per the rules, the company is required to sign the project implementation agreement with the board within two years of the approval of the investment. Suryatara received approval for investment from IBN to operate a cement plant in Surkhet as a domestic investment. According to the company, Nepali banks have already committed to invest in the project and loans will be sought at the ratio of 80 percent of the total investment. According to the company, the financial closure of the project will be done after completing the necessary procedures. If this project is successful, it will become the first cement industry in the Karnali province. The production capacity of the proposed cement plant has been estimated at 3,000 tons (60,000 sacks) daily. The company has planned to supply the cement to districts in Karnali and Sudurpaschim provinces. Suryatara has already purchased nearly 40 bighas of land to set up the cement plant. Similarly, it has been confirmed that limestone will be brought to Barahtal of Surkhet for the processing of the raw material. Mukund Timilsina, Ajay Sumargi and other businesspersons will invest in the proposed cement industry. Suryatara Cement aims to bring the plant into operation within two years of starting the construction of infrastructure. Timilsina was earlier the chairman of Samrat Cement in Dang. However, he sold his shares to Binod Chaudhary after a dispute. There is road access to the location where the cement plant will be set up. However, electricity lines are yet to be connected to the area. It has been estimated that about 20MW of electricity will be required to run the plant, which will require constructing a 26 km-long, 132 KV transmission line from Lamki Chuha in Kailali. The company says that the necessary work is currently being carried out in collaboration with the Nepal Electricity Authority.

The Cabinet will be expanded soon after Prime Minister Pushpa Kamal Dahal seeks a vote of confidence. After the Central Execution Committee meeting of the Nepali Congress, party spokesperson Prakash Sharan Mahat said that the Prime Minister will seek a vote of confidence on March 20 or 21. “No discussions have been held about joining the government. The Cabinet will be expanded after the Prime Minister takes a vote of confidence. Prime Minister Dahal is preparing to seek a vote of confidence on March 20 or 21,” he said. The Prime Minister is seeking a vote of confidence after the CPN-UML and the Rastriya Prajatantra Party withdrew support extended to the Dahal-led government with the formation of a new alliance under the leadership of the Nepali Congress. Though the Rastriya Swatantra Party has left the government, it has continued its support to Prime Minister Dahal.