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The Embassy of Nepal in India (EoNI) and India-Nepal Centre (INC), PHD Chamber of Commerce and Industry (PHDCCI) on Tuesday organized India-Nepal Partnership Summit 2022 to celebrate India’s 75th year of independence and further deepening India-Nepal bilateral ties.

 “Civilizational links and geographical links are the key elements which can help to energize and reinvent the bilateral relations between India and Nepal,” said K V Rajan, Chairman of India-Nepal Centre, PHDCCI and India’s Former Ambassador to Nepal in his opening remarks, read a statement issued by the PHD Chamber of Commerce and Industry.

“Tourism is the mainstay of the Nepal economy and religious tourism is one of the key contributors to the Nepalis tourism industry. The relationship between two countries is very strong but this is the time when we have to think on accommodating the aspirations with changing times and further strengthen it. Our relationship should be nurtured,” said the chief guest and keynote speaker Dr Shankar Prasad Sharma, Nepal’s Ambassador to India. Dr Sharma said that trade deficit between two countries remains a matter of concern, energy and agriculture sectors.

“In April 2022, Nepal's PM Sher Bahadur Deuba visited India which generated various opportunities for both the countries and built mutual interests including for infrastructure development and economic partnership, trade, health and power. For post-pandemic economic rebounding in both countries, a positive environment that is created with the Prime Minister's visits from both sides in recent times will be utmost crucial,” said Ram Prasad Subedi, Deputy Chief of Mission, Embassy of Nepal in India. 

 “Nepal has already begun exporting 177 MW of energy to India via the power exchange market. The tourism sector of India plays a significant role in the economic multiplier and becomes critical since India has to grow at rapid rates and create employment opportunities for its fellow citizens,” he added.

“The objective of today’s conference is to foster relationships and deepen the links, boosting the growth and prosperity of both sides. India is Nepal's largest trade partner and the largest source of FDI, besides majorly providing transit for third-country trade of Nepal. There are three key areas where both nations are working right now are Trade Facilitation, Deepening Energy Cooperation and Cross Border Connectivity,” said Anurag Srivastava, Joint Secretary (North), Ministry of External Affairs, Government of India. 

He added, “Nepal becomes the 4th Country to use the RUPAY card after UAE, Bhutan and Singapore and the ways are being explored to further support financial connectivity. Also, it is vital to note the progress with the projects like railways (Jayanagar-Bardibas), Terai roads, Integrated Check Posts (ICPs), post-earthquake reconstructions.”

“India has been putting best efforts for fostering bilateral ties with Nepal and with a view that we have aligned objectives. We should prioritise three areas of cooperation: Energy Trade; Bio-agri and connectivity. Also we have to cooperate on climate change front,” said Jayant Prasad, India’s Former Ambassador to Nepal.

“Nepal is facing the challenges with financial liquidity and balance of payment, SBI (through NSBL) is doing its best to support the industry to overcome them. On the other hand, it is also true that SBI's most profitable business outside India is in Nepal and that broadly reflects on the bright possibilities Nepal’s market offers,” Anukool Bhatnagar, Chief General Manager and Head-Nepal Desk, SBI. 

 “SBI is deeply committed to backward-forward linkages, smooth financial transactions, banking safety, financial inclusion and sustainable development goals. With the Arun-III power project and many others, SBI has been contributing to Nepal’s development and India-Nepal relations at large,” he added.

The Nepal Stock Exchange (NEPSE) gained 60. 22 points to close at 2, 080. 44 points on Wednesday.

Similarly, the sensitive index plunged by 11. 25 points to close at 400. 37 points.

Meanwhile, a total of 5, 005, 815 unit shares of 231 companies were traded for Rs 1. 64 billion.

In today’s market, all sub-indices saw green. Life Insurance topped the chart with 293. 13 points.

At the end of the day, total market capitalisation stood at Rs 2. 96 trillion.

Nepal reported 16 new Covid-19 cases on Wednesday.

According to the Ministry of Health and Population, 2, 121 swab samples were tested in the RT-PCR method, of which 10 returned positive. Likewise, 928 people underwent antigen tests, of which six were tested positive.

The Ministry said that no one died of virus in the last 24 hours. The Ministry said that eight infected people recovered from the disease.

As of today, there are 109 active cases in the country.

Locals have vandalized the garbage carrying vehicles at Banchare Danda in Kakani Rural Municipality-2, Nuwakot on Wednesday.

It has been learnt that the locals vandalized the vehicles from the Kathmandu Valley while trying to unload the trash with the help of police. Police said that 15 vehicles were vandalized this morning.

Police also fired tear gas shells to take the situation under control. Three police personnel were injured when locals pelted stones at them.

Though the government, metropolis and local representatives had reached an agreement on dumping the garbage two days ago, enraged locals who were unaware about the agreement, however, said that they would not allow the garbage of Kathmandu to dump in Banchare Danda until their demands are met.

Nepali Congress General Secretary Gagan Thapa urged Prime Minister Sher Bahadur Deuba to take initiatives to manage the waste of Kathmandu.

Speaking at the zero house of Parliament on Wednesday, he urged the Prime Minister to take the initiatives saying that it was the duty of all to help in the works being carried out by the Kathmandu metropolis and Ministry of Urban Development to manage the waste.

He urged all the people to actively support the campaign to make Kathmandu free of waste.

Leader Thapa also urged the Kathmandu denizens to segregate the garbage from their homes.

Speaker Agni Prasad Sapkota has directed the government to take ahead the process of taking action against the perpetrators of the Binod Shahi death incident.

During a meeting of the House of Representatives on Wednesday, Speaker Sapkota drew the attention of the government to take action against the culprits of the incident.

Speaking at the special hour of today’s meeting, lawmaker Yagya Bahadur Bogati drew the attention of the government through Speaker Sapkota saying that the police have refused to take a complaint from Shahi’s family members.

Later, saying that his serious attention had been drawn towards the issue, Speaker Sapkota directed the government to take ahead the process of taking action against the culprits by finding the truth behind the incident.

“My serious attention has been drawn towards the issue raised by the respected lawmaker. I want to draw the attention of the government on the issue. I want to direct the government to take ahead the process of taking action against the perpetrators by finding the truth behind the incident,” he said.

Shahi (15) of Panchadewal Binayak Municipality-4, Achham, who had been missing since June 31, was found dead near his house on Saturday morning.

Locals have been staging demonstrations demanding fair investigation into the incident.

Foreign Secretary of Bangladesh Ambassador Masud bin Momen urged SAARC Secretary General Esala Weerakoon to revitalize SAARC by holding consultations with the member states.

During a meeting held at the State Guest House Padma on Tuesday, Foreign Secretary appreciated the Secretary General's active role in coordinating, facilitating, managing SAARC matters especially during the difficult time of COVID 19 pandemic, read a statement issued by the Ministry of Foreign Affairs in Bangladesh.

The Secretary General apprised the Foreign Secretary about various aspects of current status of SAARC Cooperation and challenges the organization has been facing and sought Bangladesh's support in activating various stalled activities and programmes of SAARC to resolve the stalemate.

On the occasion, the Foreign Secretary and the Secretary General exchanged views on how best SAARC process could be revitalized and put to its regular path to exploit the full potentials and benefits of the institutional mechanism and the synergy the organization created over the last 37 years of its existence, the statement read.

The duo discussed different aspects of current activities of SAARC. 

The Foreign Secretary assured the Secretary General of Bangladesh's commitment to SAARC and to extend every possible support to materialize the goals of SAARC to achieve a sustainable and integrated development in the region through cooperation under the SAARC system. The Foreign Secretary urged the Secretary General to play an objective role in transforming SAARC into a meaningful regional organization. The Foreign Secretary advised the Secretary General to explore all possible ways and means to find solutions to the existing difficulties in an innovative way through continuous consultation of member states.

US Army’s Pacific Commanding General Charles Flynn is arriving on a four-day visit to Nepal on Thursday, a Nepal Army source said. 

Flynn is arriving in Nepal prior to Chief of Army Staff (CoAS) Prabhu Ram Sharma and Prime Minister Sher Bahadur Deuba’s visit to the USA.

The arrival of US high ranking officials in Nepal has started rising gradually after the endorsement of the Millennium Challenge Corporation from the Parliament. 

Under Secretary for Civilian Security, Democracy and Human Rights and US Special Coordinator for Tibetan Issues Uzra Zeya also visited Nepal in the third week of May.

Earlier on Tuesday, he held talks with Indian Chief of Army Staff General Manoj Pande and discussed aspects of bilateral defence cooperation.