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Nepal has always been pursuing an independent, balanced and non-aligned foreign policy.

In pursuant to this policy, as a sovereign country, Nepal has accepted and utilized development assistance as per the national requirement and priority, read a statement issued by the Ministry of Foreign Affairs in response to the media queries about the views appeared in various media on the Millennium Challenge Compact assistance to Nepal

Development assistance has played an important role in the building of infrastructures and development in Nepal.

The Government of Nepal remains grateful to our neighbors and those friends with whom Nepal has traditionally been enjoying strong partnership and cooperation as well as regional and multilateral development partners including the United Nations for their continued support to the socio-economic development of Nepal, the statement further read.

Nepal takes the decision to accept development assistance in terms of the country’s national interest and priority.

The sovereign parliament of Nepal alone decides what development assistance is needed in the best interest of Nepal and Nepali, the Ministry said.

The Nepal Stock Exchange (NEPSE) index plunged by 39.40 points to close at 2,693.10 points on Sunday, the first trading day of the week.

Similarly, the sensitive index fell 4.99 points to reach 513.64 points.

A total of 7,122,299 units of shares of 230 companies were traded for Rs 4.08 billion.

Likewise, all sub-indices saw red in today’s market except for others.

Meanwhile, United IDI Mardi RB Hydropower Limited was the top gainer today with its price surging by 10 percent. Likewise, Narayan Development Bank Limited was the top loser with its price dropped by 4.74 percent.

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has worried that the first half-year review of the monetary policy of the current fiscal year unveiled recently by Nepal Rastra Bank (NRB) could affect the economic activity that has grasped momentum, struggling with the COVID-19 pandemic. 

Although conducting a study on concessional loans in the productive sector would help assist in industrialisation, the FNCCI has stated that trade, business and investment would be affected as most of the recommendations of the private sector were not addressed. 

Releasing a viewpoint of FNCCI today, it said chances remain of crises remain high for businesspersons and financial institutions despite knowing the fact that deposits collection on the banks and financial institutions could not increase amid the interest rate in the deposit. 

The FNCCI has drawn the attention of the central bank towards adverse impacts on production, price hike, revenue collection and employment generation as the review was focused on imports reduction. RSS

The government tabled Millennium Challenge Corporation (MCC) in the Parliament on Sunday, 32 months after it was registered in the Parliament Secretariat. 

Minister for Communications and Information Technology Gyandendra Bahadur Karki  on behalf of Minister for Finance Janardan Sharma tabled the $500 million compact in the Parliament this afternoon. 

Signed in September 2017, the MCC compact was registered in the Parliament in July 2019.

The next meeting of the Parliament has been scheduled for 1 pm on Thursday.

Three leaders of the CPN (Maoist Centre) expressed their dissatisfaction over the decision to table the Millennium Challenge Corporation (MCC) in the Parliament.

During a meeting of the Business Advisory Committee held on Sunday, Maoist Centre Chief Whip Dev Gurung, members Jayapuri Gharti and Rekha Sharma expressed their dissatisfaction over the decision to table the MCC in the Parliament .

They opined that the MCC should not be tabled in the Parliament until the parties forge a common ground on the issue.

The main opposition CPN-UML boycotted the meeting of the Business Advisory Committee on Sunday.

Speaker Agni Prasad Sapkota called the meeting for 1 pm today to discuss the Millennium Challenge Corporation (MCC).

The UML has been saying that it would not allow the House to proceed with its business until the Speaker takes action against 14 lawmakers expelled by the party.

UML Chief Whip Bishal Bhattarai said that they would not attend the meeting until their demands are met.

The government is preparing to table the MCC in the Parliament meeting today.

CPN (Maoist Centre) Chairman Pushpa Kamal Dahal opined that the Millennium Challenge Corporation (MCC) should be tabled in the parliamentary committee instead of Parliament for discussions.

During a meeting of the ruling coalition held in Baluwatar on Sunday morning, Dahal urged Prime Minister Sher Bahadur Deuba to table the $500 million compact in the parliamentary committee rather than in the Parliament, Dahal’s secretariat said.

But, Prime Minister Deuba was adamant on his stance to table the MCC in the Parliament.

“If you want to table the MCC in the Parliament at any cost, it will be better to present the MCC in the Committee for discussions. But, the Prime Minister expressed his reluctance to table the compact in the Committee,” the secretariat said.

But, the ruling coalition has already made a decision to table the MCC in the House of Representatives.

The Parliament meeting is scheduled to be held at 1 pm today.

The ruling coalition has decided to table the Millennium Challenge Corporation (MCC) in the House of Representatives.

A meeting of the ruling coalition held at Prime Minister Sher Bahadur Deuba’s official residence in Baluwatar on Sunday morning made the decision to this effect.

“The coalition has agreed to table in the Parliament,” a leader who attended the meeting said.

Following the agreement, Prime Minister Deuba is preparing to table the $500 million compact in the Parliament today.