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 In a milestone achievement, MCA-Nepal has awarded and signed a contract with Linxon India Pvt. Ltd. for the construction of the 400 KV New Butwal Substation in Nawalparasi (Bardaghat Susta West) in Lumbini Province. The 400 KV Gas Insulated Switchgear (GIS) substation will be constructed within the contract duration of 39 months.

Kul Man Ghising, the managing director for Nepal Electricity Authority (NEA), and Dean R. Thompson, the US ambassador to Nepal, local authorities and elected representatives were also present at the signing ceremony in Bhumahi, Nawalparasi (Bardaghat Susta West), said a press release issued by MCA-Nepal office. 

“The US government is committed to working with the government of Nepal to ensure that the compact delivers on Nepal’s energy needs. The 400 kV New Butwal Substation will improve Nepal’s transmission capacity contributing to reliable and affordable electricity for household consumption, expanded commercial and industrial enterprises and cross-border electricity trading,” said US Ambassador Thompson.  

NEA Managing Director Ghising said the 400 kV substation has been a priority for NEA and will supplement the existing 220 kV substation to significantly increase cross-border energy trade in the region. MCA-Nepal Executive Director  Khadga Bahadur Bisht highlighted the overall progress being made in the implementation of the MCC Nepal Compact. “MCA-Nepal is expediting all works for the construction of the transmission lines and substations under the Electricity Transmission Project. We are at the final stages of the procurement process to sign the contract for the construction of the remaining two substations as well,” he said.

Along with this substation, MCA-Nepal is constructing two other substations in Ratmate, Nuwakot district and Damauli, Tanahun under the Electricity Transmission Project funded by the US government’s Millennium Challenge Corporation (MCC) and the government of Nepal.  The MCA-Nepal Board, chaired by the secretary at the Ministry of Finance, decided in its March board meeting to advance the 18 km Nepal portion of the new Butwal-Gorakhpur power transmission line to facilitate timely initiation of cross-border power trade as outlined in the agreement with India. 

Prime Minister Pushpa Kamal Dahal has said that the government is committed to give an impetus to the country's economic transformation by keeping the morale of investors, including the industrialists and business community, high.

Inaugurating the Hyundai Motor Assembling Plant of Laxmi Motor Corporation in Nawalparasi today, PM Dahal stated that the country would be taken ahead on the journey of prosperity through economic development.

He said the economy would be strengthened by taking the private sector into confidence, asserting that the government is committed to facilitating the investment.

"The country's economy cannot be made robust without the investment of the private sector and the collaboration between the state and the private sector. The productivity cannot be increased and employment opportunities also cannot be created without this," PM Dahal said, adding that the government is always in support of creating a climate conducive to investment, promoting the private sector and security and facilitation in the investment areas.

Expressing the belief that the domestic and foreign investors would be attracted more towards the industry-friendly environment in Nepal with the operation of this new industry, he said import would be substituted and hundreds of skilled and semi-skilled laborers will get jobs along with industrialization.

The Prime Minister viewed that the consumers can buy vehicles at a fair price and a positive contribution would be there in consumption of domestic resource and electricity, a partnership in the local development and on the GDP as well when the motor assembling is done within the country itself.

"Our fiscal and monetary policies should be promotional, rather than restrictive. These policies and laws should contribute to the production and employment promotion," he said. The PM further said the domestic and external indicators of the economy are in the positive due to the consistent efforts of the government.

"The Third Investment Summit has concluded recently. The government has amended important Acts, bringing an ordinance on the eve of the Summit. This will play a key role in addressing the problems seen in the investment sector and also in encouraging and promoting the internal and external investment," he added.

The Prime Minister believed that the enthusiasm seen in the investment summit, the common viewpoint and commitment witnessed in the political parties of Nepal and the attraction of the investors have indicated towards Nepal soon becoming an attractive destination for investment.

The main opposition Nepali Congress said that a parliamentary probe committee to investigate cooperative fraud charges against Deputy Prime Minister and Home Minister Rabi Lamichhane is its bottom line.

A Parliamentary Party meeting held on Friday made a conclusion that the party would not allow the House to function until the demand of forming a parliamentary probe committee to investigate Lamichhane is addressed, Congress Chief Whip Ramesh Lekhak said.

He said that the government will be held responsible if the Parliamentary meeting is obstructed.

“The bottom line of the Congress is to form a parliamentary probe committee to investigate Rabi Lamichhane. The government has been ignoring the demand of the main opposition. The government itself will be responsible if the Parliament meeting is obstructed,” he said to mediapersons after the meeting.

He said that more evidence has emerged to confirm Lamichhane’s involvement in the cooperative fraud case.

The Congress said that the government mechanism has been misused to protect Lamichhane.

The price of gold has increased by Rs 2, 300 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 137, 900 per tola today. It was traded at Rs 135, 600 per tola on Thursday.

Similarly, tejabi gold is being traded at Rs 137, 250 per tola. It was traded at Rs 134, 950 per tola.

Meanwhile, the silver is being traded at Rs 1, 735 per tola today.

The main opposition Nepali Congress has decided to allow Deputy Prime Minister and Home Minister Rabi Lamichhane to speak in the Parliament meeting.

A Parliamentary Party meeting of the Congress held on Thursday decided to allow Lamichhane along with other senior leaders to speak in the Parliament, a lawmaker, who attended the meeting, said.

He said that the meeting has decided to let Lamichhane to speak in the Parliament in the capacity of the President of Rastriya Swatantra Party.

The Congress has been demanding the formation of a parliamentary probe committee to investigate Lamichhane’s alleged involvement in the fraud involving millions of rupees.

The NC had not allowed Lamichhane to take to the rostrum in the previous session of the Parliament.

After the main opposition did not allow him to take to the rostrum, Lamichhane has been saying that he be allowed to speak in the Parliament.

The Congress has been saying it would not allow the House to proceed with its business until the parliamentary probe committee is formed.

The European Union (EU) said that it would help Nepal bring in investment.

EU Ambassador to Nepal Veronique Lorenzo informed that the 'EU-Nepal Trade Forum' is taking place in Kathmandu next week to bring European investment to Nepal.

In her address to a reception organized on Thursday to mark the 50th anniversary of the establishment of diplomatic relations between Nepal and the European Union, Ambassador Lorenzo said that the second meeting of the forum would be held in Kathmandu on May 15-16 to address Nepal's foreign investment deficit.

She said companies from EU countries would participate in the meeting to discuss the potential areas of investment in Nepal.

The Ambassador further said that Nepal was moving ahead with the goal of upgrading from the list of least developed countries in 2026 and it was necessary to create economic development and employment opportunities for the same.

Police have arrested two persons in possession of undeclared Rs 9.8 million Durbarmarg on Thursday.

Kathmandu Valley Crime Investigation Office chief senior SP Sanuram Bhattarai informed that two persons were apprehended with undeclared Rs 9. 8 million from Durbarmarg last night.

He said that the detailed information about the case will be made public by organizing a press conference today.

As many as 21 rhinos died in and around Chitwan National Park area in the past 10 months of the current fiscal year.

Two of the rhinos were killed by poachers while the other 19 were found dead due to natural causes.

Public Information Officer at the national park, Ganesh Prasad Tiwari said the dead rhinos included seven male, seven female and seven unidentified.

The rare species are dying due to several reasons, including being stuck in swamps, in-fighting, aging, tiger attack, poaching, human activities, and electrocution.

"Managing grasslands and wetlands will help in rhino conservation," he said. The park is managing new wetlands, repairing old ones and managing grasslands for rhino conservation, he said.

It was shared that 13 male, seven female and one unidentified rhino died in the last fiscal year. Presently, there are 694 rhinos in the park.

The CNP has shifted some rhinos to the eastern region for habitat management with the rise in the number of rhinos in the western part of the park, which is considered a suitable habitat for rare one-horned rhinos.