Submit your Article

Are Nepal-China relations thawing? Recent events suggest so. Along with back-to-back visits by senior Chinese leaders, bilateral engagements between the two countries have also increased. Only last week, the two sides agreed to revive the mechanisms related to boundary management, and there was an understanding to remove obstacles to trade in vital Nepal-China border points. In this context, Kamal Dev Bhattarai of ApEx talks to Bishnu Pukar Shrestha, Nepal’s new ambassador to Beijing. 

What will be your priorities as the Nepali envoy to China? 

Nepal and China have shared a cordial and cooperative relationship since time immemorial. I want to elevate this relationship to a new level and for that building an environment of trust is a must, which is my top priority. Nepal has some expectations from China and vice-versa. So, we have to chalk out a concrete program. The immediate priority is to ensure the return of Nepali students to China, and the process has already begun. There are also some pending issues related to trade and transit. For its socio-economic transformation, Nepal has high expectations from China. But Nepal first has to inform China about its needs and situation, and that is my job as an ambassador. My priority is also to increase the feeling of brotherhood between the citizens of the two countries. 

What is your view on pushing forward with China’s Belt and Road Initiative (BRI)?

Nepal obviously wants progress on the BRI, which it has supported since its inception in 2013. The BRI’s key thrust is to forge collaboration between countries. Nepal has to request China for more assistance under the initiative. There have been long and intensive discussions between the two sides on how to move ahead with the BRI, but there is still a lack of coherent understanding among the people and the political parties. Even though no Nepali political party is negative about the initiative, its implementation has been very slow. There is also a flawed understanding of the BRI. Some see it as purely a grant assistance, while others view it as a debt burden. Both these understandings are wrong. If China gives us grants, it is a good thing. However, the BRI is not completely about grant assistance. It is as much about mutual cooperation and contribution. 

China has been insisting on quick implementation of past agreements with Nepal. What will you do about it? 

It is my duty as an ambassador to see to it that those agreements are implemented. We signed the Transit and Transport agreement in 2016. Some of its provisions are already in the implementation phase. I will focus on honoring the remaining clauses of the agreement, as well as other agreements between Nepal and China. 

You reportedly told our parliamentary committee that you wanted to invite China as a full member of the South Asian Association for Regional Cooperation. Is that true? 

Currently, China is an observer member of the SAARC. What I meant was China’s role in the regional body should be enhanced. SAARC member countries should try to take advantage of China’s massive economic development. But the media distorted the remark I made before the parliamentary committee. I did not talk about making China a SAARC member country. I rather talked about maximizing the benefits for South Asia by engaging more with China.  

Any particular plans to kick off your tenure in China?

The government has entrusted me with a huge responsibility. I will definitely add a brick or two to the edifice of bilateral relations. I will put Nepal’s interest at the center of any engagements with China. There are several issues between the two countries that need to be addressed. China is an economic powerhouse and we need to take advantage of that. After I present my credentials, I will work on preparing a list of my priorities and tackling them systematically.

The Nepal Stock Exchange (NEPSE) plunged by 27. 26 points to close at 2,017.46 points on Friday.

Similarly, the sensitive index dropped by 5. 40 points to close at 386. 24 points.

A total of 3,320,512 units of the shares of 212 companies were traded for Rs 1. 44 billion.

Meanwhile, Kisan Lagubitta Bittiya Sanstha Limited was the top gainer today with its price surging by 8. 41 percent. Likewise, Saptakoshi Development Bank Limited was the top loser with its price dropped by 5. 79 percent.

At the end of the day, the total market capitalization stood at Rs 2. 88 trillion.

Senior politician Dinesh Gunawardena on Friday took over as Sri Lanka's prime minister as President Ranil Wickremesinghe swore in his new Cabinet, Business standard reported.

A stalwart of Sri Lankan politics, Gunawardena, 73, earlier served as the foreign minister and education minister. He was appointed as Home Minister in April by then President Gotabaya Rajapaksa.

The prime minister's post fell vacant after Wickremesinghe, 73, was on Thursday sworn in as the country's eighth president after Gotabaya Rajapaksa fled the country and then resigned as president, according to Business Standard.

He has called for bipartisanship to address the unprecedented economic crisis the country is facing.

Good Karma Group of Companies launched Karma Residences, luxury apartment buildings, at an event in Kathmandu on July 18. Karma Tenzing, chairman of the company, shared his experience on how he envisioned the business for the refined tastes of the well-traveled and well-educated Nepali clients. Karma Residences will be a 162-luxury apartment in Maharajgunj, comparable with the finest condominiums in New York City. The architecture and design of the buildings will be handled by UNA in Mumbai. The interior works have been commissioned to A-One Construction. 

The price of gold has increased by Rs 1, 000 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow bullion is being traded at Rs 94, 000 per tola today.

Meanwhile, tejabi gold is being traded at Rs 93, 500 per tola.

The yellow metal was traded at Rs 93, 000 per tola on Thursday.

Similarly, the price of silver is being traded at Rs 1,155 per tola today.

Police on Thursday confiscated a huge amount of betel nuts meant to be smuggled to India.

The betel nuts worth over Rs 80 million were confiscated from Budhanagar in Biratnagar Metropolitan City-18, police said.

Chief District Officer of Morang Kashi Raj Dahal said that police seized 219, 596 betel nuts packed in 2,678 sacks from eight trucks bearing Indian registration number plates.

The market price of the seized betel nuts is Rs 86. 30 million.

Police said that they have taken the trucks (UP 45 T 1624, MP 09 HG 8320, MP 22 H 1031, UP 50 BT 7277, UP 62 T 8121, UP 54 T 6429, UP 50 AT 3158 and UP 62 CT 0627) under control for investigation.

According to a police source, betel nuts imported from third countries are found being smuggled to India through Nepal.

India has banned the import of betel nuts from the countries except Nepal.

The source, however, said that the people smuggle the betel nuts from Indonesia, Thailand and Malaysia among other countries to India taking the advantage of open border.

Police said that the confiscated betel nuts may belong to a businessman of Jhapa.

Betel nuts with a huge amount are not produced in Nepal.

A person died and 17 others were injured when a bus and a microbus collided with each other in Ichhakamana of Chitwan district on Thursday.

The bus (Na 6 Kha 1340) heading towards Bajhang from Kathmandu collided head-on with the microbus (Lu 2 Kha 3502) en route of Kathmandu from Bhairahawa at Chumlingtar in Ichhakamana-3 of Chitwan at around 5 pm yesterday.

A person, who was critically injured in the incident, breathed his last during the course of treatment while the injured are also receiving the treatment.

Further investigation into the incident is underway.

Two persons died when a container bearing an Indian registration number plate hit a motorbike they were riding on at Ganga Chowk in Budhiganga Rural Municipality-2 of Morang district on Friday.

The container (HR 38 X 2210) hit the motorbike (Ko 30 Pa 9103) heading towards Itahari from Biratnagar at 6: 45 am today.

According to Inspector Raj Kumar Karki, Chief at the Morang Traffic Police Office, the deceased have been identified as bike rider Harka Pariyar (27) and pillion rider Bhim Bahadur Rai (21) of Kerabari Rural Municipality-7 of Morang.

Police said that they have impounded the container and arrested its driver for investigation.

Karki said that the container hit the motorbike from behind when it tried to overtake in the narrow road.

Following the incident, locals obstructed the Koshi Highway demanding stern action against the container driver.

Police said that they are looking into the case.