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Prime Minister and CPN-UML Chairman KP Sharma Oli has said that after breaking many conspiracies and illusions, the government has confidently moved forward on the path of fulfilling the commitment of development, prosperity and good governance.

Addressing an awareness rally organized by the three district committees of the UML Valley in Durbarmarg today, Prime Minister Oli clarified that the coalition of the current government will remain until the next election. He emphasized that everything must be done to bring economic prosperity by maintaining communal harmony in the country by defeating anarchy and instability.

He stated that any type of fraud, smuggling, corruption, character assassination and obscenity is not acceptable. He further said that the UML and the Nepali Congress have forged consensus to defeat any kind of irregularities.

China visit will be successful

The Prime Minister also asserted on the occasion that his upcoming official visit to China will be extremely successful. The PM is going on a visit to the northern neighbor on December 2.

He made it clear that his visit to China will not be only for the sake of the visit, but will be focused on the interest of the country and the people.

PM Oli said the government has adopted the policy of not taking loans from anywhere as far as possible and of increasing its own production.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that an investment-friendly environment has been created in the country. 

Speaking in a news conference held today, he mentioned that after Nepal got a BB score in the sovereign credit rating, Nepal has become a suitable environment for investment. He said that the rating indicates that Nepal's economic structure, public finance mobilization and macroeconomic and financial conditions are investment-friendly and advanced.

He said, "The result of the credit rating has created a situation where Nepal's credit capacity is high, its financial and economic capacity is good, which means that it can get loans at low interest rates from the international market."

 Minister Paudel expressed his belief that this condition will help to increase the confidence of the private sector and attract foreign investment. In the sovereign credit rating, there is the rating of basically four sectors of the economy: structural aspects of the economy, macroeconomic performance, and public and external sector economic indicators, it is learnt.

While rating the country's sovereign credit, these aspects are evaluated independently from various sovereign rating models and qualitative measurement methods, and the score obtained is given a rating from minimum to maximum.

In the rating, the economic structure of Nepal, the state of public finance, the status of internal and external debt, the state of the indicators of the monetary and financial sector, the economic index of the external sector, the medium-term and long-term blueprint of the economic growth reflected in the Sixteenth Plan and other details and statistics were analyzed.

In addition to that, as part of the qualitative evaluation phase, the researchers carried out on-site visit to Nepal, and consulted and discussed with high officials of government agencies such as the Office of the Prime Minister and the Council of Ministers, the Ministry of Finance, the National Planning Commission, the Nepal Rastra Bank, etc. Also, the officials of the private sector and bilateral and multilateral development partner agencies in Nepal were consulted during the study. The Nagadhunga tunnel was observed as a model to evaluate the implementation of the mid-term and long-term plans of infrastructure development presented by Nepal.

Joint Secretary at the Ministry Narayan Prasad Risal, informed that the sovereign credit rating is used by the world's investors and financial service providers as a basis for evaluating the investment environment of any country.

According to him, it will evaluate the structure and condition of the country's economy from the eyes of independent experts and bring the real situation to investors around the world.

Fitch Ratings has assigned Nepal a Long-Term Foreign-Currency Issuer Default Rating (IDR) of ‘BB-’ with a Stable Outlook, citing low government debt, strong external liquidity, and growth prospects driven by hydropower. However, challenges include weak governance and economic vulnerability to shocks and disasters.

Government debt stands at 44 percent of GDP, below the ‘BB’ median, while foreign reserves exceed $13bn, covering nearly 12 months of external payments. Fitch projects GDP growth to recover to five percent in the medium term, supported by hydropower exports to India, despite political instability and a low GDP per capita of $1,400.

The rating places Nepal two notches below India but makes it the highest-rated among South Asian countries after India.

The GP Koirala National Center for Respiratory Diseases based in Belchautara, Tanahun, is beginning dialysis service to kidney patients from February 2025.

Lions Club and Shuklagandaki Municipality would support in setting up the facilities to begin the dialysis service. 

Executive Director of Centre, Dr Ram Kumar Shrestha, said preparations are going on to provide dialysis service in February.

"Public demand is high for dialysis services. We have begun internal preparations to start this service. Two staff nurses have already received training and two more nurses have been sent for training from November 16," Executive Director Shrestha said.

Minister for Health and Population Pradip Paudel, who made an inspection visit to the hospital some time ago, has also expressed his readiness to provide support from the Ministry of Health and Population.

As many as 300 patients are visiting the Center daily for health care services. Besides respiratory services, the hospital has provided orthopedic, gynecology, general surgery and ENT services.

With visas in their hands and time slipping out of their hands quite fast, about 1400 workers selected under the Employment Permit System are awaiting to fly to the Republic of Korea (South Korea) for jobs. 

According to reports, this grim situation has arisen because of the inability of the global sales agent for Korean Air (South Korea’s flag carrier), Universal Tour and Travels, to provide flight tickets to these people. 

Meanwhile, the ‘responsible’ authorities have not been twiddling their thumbs in a difficult situation, if the EPS Section of the Department of Foreign Employment is any indication. 

Rather, they have found some excuse this time also, at a time when things at the Tribhuvan International Airport things are very far from hunky-dory, with the airport undergoing major upgradation that is expected to take months. 

A report quotes Kamal Raj Shrestha, spokesperson for the section, explaining the reason behind the workers’ plight: Between Dashain and Tihar, a large number of migrant workers had their visas issued and this has affected their departure. While very few flights operated in November, we have already received a schedule for sending 650 workers (to South Korea) in December. 

Under the existing scheme of things, the selected workers have to arrive in South Korea within three months from the date of issuance of their visas. Apparently, workers do not want to miss the deadline and lose the jobs that have come their way. 

At present, Korean Air operates three direct flights along the Kathmandu-Seoul sector and the workers selected under the EPS and traveling on relatively cheaper tickets cannot enjoy transit facilities along the journey. While Universal charges these workers about 1.19 lakh rupees for each flight ticket, it charges others flying the same sector around 1.5 lakh rupees per ticket. 

This is not the end of air travelers’ woes, though. Amid major upgradation of the TIA, passengers’ difficulties have only increased, what with unauthorized hikes in the prices of tickets.

It’s sad that the government has not only failed to retain the youths for giving Nepal a turnaround, it has also failed to ensure a relatively comfortable journey to those workers, who wish to toil abroad and send remittances home. 

Responsible authorities like the Civil Aviation of Authority of Nepal and the Ministry of Tourism and Civil Aviation should bring a semblance of order before absolute chaos reigns supreme at the aviation sector.

President Ram Chandra Paudel conferred the rank of Honorary General of the Nepal Army on visiting Indian Army Chief Gen. Upendra Dwivedi with during a special ceremony at the Rastrapati Bhawan on Thursday.

Vice President Ram Sahaya Prasad Yadav, Prime Minister KP Sharma Oli and Defense Minister Man Bir Rai among others were present on the occasion.

The Indian Army Chief arrived in Kathmandu at the cordial invitation of Chief of Army Staff (CoAS) Ashok Raj Sigdel on Wednesday.

There is a tradition of Nepal and India conferring the rank of Honorary General on each other's Army Chief since 1950.

Earlier this afternoon, CoAS Sigdel and Indian Army Chief Gen. Upendra Dwivedi, who is on a five-day visit to Nepal, held bilateral talks at the Army Headquarters, Bhadrakali.

This is General Dwivedi's first official visit to Nepal after his appointment as the Chief of the Indian Army on June 30.

He is scheduled to call on Prime Minister KP Sharma Oli and Defence Minister Manbir Rai tomorrow.

Chief of the Army Staff Ashok Raj Sigdel and Indian Army Chief, General Upendra Dwivedi, who is on a visit to Nepal, held bilateral talks at the Army Headquarters, Bhadrakali today.

The official meeting between the two Army Chiefs was focused on mutual partnership and interests between the militaries of the two countries.

During the talks, brief information about Nepali Army's duties and responsibilities, and the work performance was presented, NA Spokesperson Gaurav Kumar KC informed.

Before that, Indian Army Chief Dwivedi received the guard of honor presented by the Nepali Army, according to the Directorate of NA Public Relations and Information.

On the occasion, the Indian army chief planted a tree in the Jangi Adda (Headquarters complex).  The Indian army chief laid a wreath at the Memorial to the Brave Soldier located at the Army Pavilion in local Tundikhel.

President Ram Chandra Paudel is scheduled to confer on Army Chief Dwivedi the rank of Honorary General (Maharathi) of the Nepali Army today.

There is a tradition of Nepal and India conferring the rank of Honorary General on each other's Army Chief since 1950.

This is General Dwivedi's first official visit to Nepal after his appointment as the Chief of the Indian Army on June 30.

He is scheduled to call on Prime Minister KP Sharma Oli and Defence Minister Manbir Rai tomorrow.

The Nepal Stock Exchange (NEPSE) plunged by 31. 31 points to close at 2,680.44 points on Thursday.

Similarly, the sensitive index dropped by 5. 53 points to close at 472. 97 points.

A total of 18,474,024-unit shares of 314 companies were traded for Rs 8. 25 billion.

Meanwhile, Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) and Three Star Hydropower Limited (TSHL) were the top gainers today with their price surging by 10. 00 percent. Likewise, Janaki Finance Company Limited (JFL) was the top loser as its price fell by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 4. 26 trillion.