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The third round of Nepal-Bangladesh Foreign Office Consultations is taking place in Kathmandu on April 17.

Foreign Secretary of Bangladesh Masud Bin Momen is arriving today on a three-day official visit to Nepal in that connection, reads a statement issued by the Ministry of Foreign Affairs.

Foreign Secretary Sewa Lamsal will lead the Nepali delegation consisting of officials of various ministries of the Government of Nepal at the consultations.

 The two delegations will discuss wide-ranging areas of cooperation between Nepal and Bangladesh.

The Foreign Secretary of Bangladesh is also scheduled to pay a courtesy call on Deputy Prime Minister and Minister for Foreign Affairs, Narayan Kaji Shrestha during his visit.

Foreign Secretary Masud will leave Kathmandu for Dhaka on April 18, the Ministry said.

Banks are flush with loanable funds, but they are not seeing demand for loans. As a result, the Nepal Rastra Bank (NRB) has been mopping up excess liquidity from the banking system through different monetary instruments.

According to the central bank, banks and financial institutions (BFIs) have a lending capacity of over Rs 850 billion at present. However, BFIs are not able to invest. On the other hand, an unruly group has gone after the banking and financial sector unchallenged. The government seems helpless against such groups. Recent arrests of bankers on suspicion of irregularities have unleashed a situation of fear and terror in the banking and financial sector.

That is why, bankers say, despite excess cash, there has been no investment. No wonder bankers are saying there is no environment for investment in the country. Stakeholders say that unless the government takes action against the groups spreading anarchy by saying 'loans need not be repaid' and 'if you protest, loans will be waived', the situation in the banking sector will not improve.

Banks hesitant to invest

 Bankers say the servicing of loans by borrowers has been affected after unruly groups started a campaign against banks. The banking and financial sector has been facing this problem for about a year now. On the other hand, the overall economy has shrunk recently. Most businesses are in a slump as there is no demand in the market. There has been no demand for loans from banks. In such a situation, bankers say that with unruly activities getting support to destabilize the banking sector, they have to hesitate even to lend.

However, the government has not taken any action against those spreading anarchy against banks. Protests are also being organized in the name of victims of microfinance. Some bankers feel that the state has been supporting those agitating against microfinance instead of controlling them.

The Nepal Rastra Bank has set a maximum credit-to-deposit ratio (CCD ratio) of 90% for banks. The current CCD ratio of banks is only 80.02%. While deposits have been increasing daily, lending has not increased proportionately, resulting in an accumulation of cash in the system.

According to the Nepal Bankers' Association, there has been no demand creation in the market. Interest rates have declined, but there are no new borrowers. Commercial banks, development banks, and finance companies have collected deposits of Rs. 6.17 trillion and disbursed loans of Rs 5.09 trillion.

Sunil KC, president of the Nepal Bankers' Association, cites protests against banks, arrests, and unnecessary detentions of bankers as reasons for the inability to disburse loans. “Additionally, imports have declined compared to the previous year, and most industries have not been operating at full capacity. Public construction projects have also been sluggish due to a lack of funds. For these reasons, there has been no demand for loans," KC said. "As soon as money stops flowing into the construction sector, many other sectors will be affected. These are the reasons why overall loan demand has declined." Banks' non-performing loans have also increased compared to previous levels, said KC, who is also the CEO of NMB Bank.

Tightening policies

Bankers say the central bank is not relaxing certain policies because of the conditions set by the International Monetary Fund (IMF). The IMF granted Nepal concessional loans worth $395.9 million under its Extended Credit Facility (ECF). Officials, who were alarmed at depleting foreign exchange reserves and increasing current account deficit due to high imports, agreed to accept the IMF’s conditional loan which extends until February 2025. Bringing reforms to the financial system and public finance management, including amending the law to make Nepal Rastra Bank autonomous, preparing a blueprint to prevent misuse of loans, conducting external audits of 10 big commercial banks are some of the conditions set by the IMF.

The government implemented some reform measures, but it dragged its feet on the implementation of some other conditions set by the IMF. The then finance minister, however, expressed commitment to implement all reforms in October last year after the IMF withheld the third installment of its loan.

NRB’s directives on loan classification, the new provision of a six-month wait for non-performing loans to be upgraded, and the guidelines on working capital loans were met with opposition from the private sector. Private sector bodies like FNCCI and CNI have urged the government to clear IMF loans at the earliest.

NRB's requirement of raising capital reserve by 0.5 percentage points to 9% by mid-June will decrease bank's capacity to lend by around Rs 25 billion, according to bankers. Likewise, further shrinking of spread rate to 4% has hit profitability of banks.

Prime Minister Pushpa Kamal Dahal and CPN (Unified Socialist) senior leader Jhalnath Khanal held a meeting on Tuesday.

During the meeting that took place at the Prime Minister's official residence at Baluwatar this morning, the two leaders discussed the formation of the Sudurpaschim provincial government and the role of the Unified Socialist party, among other political topics.

Manohari Timilsina, the Prime Minister's press expert, said PM Dahal and leader Khanal discussed contemporary political issues on the occasion.

In an ideal world, food is best consumed fresh. But unfortunately, that isn’t always possible. We are in a rush to get to work, sometimes we are too lazy to cook, or we come back home tired—all these things make it next to impossible to prepare a meal from scratch. These are the times when readymade meals or leftovers come to our rescue. To be able to microwave something from the freezer, put that on a plate, and have a hot meal ready in minutes is a kind of luxury on days when you just want to curl up on the couch and pass out.

 But food must be stored well if we want to prevent illnesses. Storing food correctly can help reduce food waste. Your food will last longer and stay fresher if you store it right. Here are some basic things to do to ensure your food lasts longer, tastes better, and is as healthy as a freshly prepared meal.

 Refrigerate or freeze perishables right away

When you come home from a trip to the grocery store, put away food that requires refrigeration in the refrigerator. Try and follow the ‘two-hour rule’ for leaving items that need refrigeration out at room temperature, not allowing meat, poultry, seafood etc. out longer than two hours. This rule applies for leftovers and take-out foods as well. When stocking the fridge, don’t overcrowd it to allow proper air circulation. Many items come with storage instructions. Check the label and follow them properly. In case of power outage, keep the fridge doors closed to let it keep food cold for as long as four hours.   

Use stored food as soon as possible

Refrigerated ready-to-eat foods such as luncheon meats should be used as soon as possible. If they are stored in the fridge for too long, chances are that Listeria, a bacterium that causes foodborne illness, will grow, especially if the temperature of the refrigerator is above four degrees Celsius. Make sure you throw away food that has gone moldy as it can grow even under refrigeration. Try to consume leftovers within a day or two. It’s also a good idea to check canned goods for damage before consuming them. Rust, cracks, leaks are signs that the food inside might not be the best possible state. Consider exchanging them or tossing them away if they have gone bad.

Freeze food that you won’t be eating right away

Food that is properly frozen and cooked is generally safe. Food that is properly handled and stored in the freezer section will remain safe as bacteria doesn’t grow. But the quality of the food will decrease over time. Depending on how long it sits in the freezer, the tenderness, flavor, aroma, and color can be affected. Store cooked meals or leftovers in airtight containers. There’s little change in food’s nutrient quotient because of freezing so you can enjoy a nutritious meal if you properly freeze food.

Store staples correctly

Staple food items like rice, lentils, flour, sugar, salt, yeast, and other dry goods should be stored in a cool dry place. Use sealed containers or storage bags to maintain their taste and freshness. Store all non-perishable foods away from cleaning supplies and chemicals. It’s also not recommended to store non-perishable food items under the kitchen sink. Try to buy small quantities of rice and other grains to avoid having to store them for longer periods of time. Track the inventory every now and then and try to use older items first.

Learn some storage tricks

Bananas can stay fresh for longer if you wrap the stem in foil. Keep avocados away from direct sunlight if you want to slow down the ripening process. Carrots kept submerged in water in an airtight container in the fridge can last up to two months. Don’t store cheese, eggs, milk, and yogurt on the fridge door as this is the least consistently cold place. Don’t store tomatoes in the fridge as these fruits don’t tolerate the cold well and you will be sacrificing its flavor. Learning some storage tricks like these can help you save money you spend on food by not allowing them to go bad.

The Birgunj Metropolitan City (BMC) has collected more than Rs 360 million taxes in nine months of the current fiscal year.

In the last nine months of the current fiscal year, it was able to collect Rs 167 million in revenue.

The metropolitan city collected Rs 127 million from property tax and Rs 45 million house rent.

The city has been imposing tax under 24 headings.

Chief of revenue division at the metropolitan city, Manoj Karna, informed that they were able to collect Rs 29 million more tax than that collected last year. It is a good improvement, he said.

The price of gold has increased by Rs1, 700 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 139, 200 per tola today. It was traded at Rs 137, 500 per tola on Monday.

Similarly, tejabi gold is being traded at Rs 138, 550 per tola. It was traded at Rs 136, 850 per tola.

Meanwhile, the silver is being traded at Rs 1,750 per tola today.

The Kathmandu Metropolitan City (KMC) has warned of action against those leaving construction materials unattended on street and pavement.

The road and footpath must be cleaned up after finishing construction works, KMC reminded, urging all concerned not to scatter the materials as they were obstructing public movement and development management.

Even the beautification campaign of KMC was hindered with the things strewn on the street and pavements. So, KMC would act tough against those behind the mess, Deputy Mayor Sunita Dangol warned.

Similarly, any individual or company planning to build infrastructures is obliged to receive permission before any undertaking in public places or roads.

Issuing a notice, KMC has also reminded everyone of the legal provisions of Local Government Operation Act, 2074, and Environment Protection Act, 2076.

Pakistan Embassy, Kathmandu hosted a reception to commemorate the 84th National Day of Pakistan at Hotel Radisson Blu here.

Vice President of Nepal Dr. Ram Sahay Prasad Yadav was the chief guest of the program.

Senior Nepalese political, civic and business leaders, civil and military officials, Ambassadors, diplomats, Pakistani community, journalists, and civil society representatives attended the event.

In his remarks, Ambassador of Pakistan to Nepal, Abrar H Hashmi, underlined the historical importance of the Pakistan Resolution adopted on 23rd March 1940. He paid rich tribute to the forefathers under the visionary leadership of Quaid-e-Azam Muhammad Ali Jinnah for pursing democratic struggle for the creation of Pakistan. He said Pakistan has contributed to the global peace, aspires friendship and peaceful coexistence. 

Ambassador stated that since establishment of diplomatic relations in 1960, Pakistan and Nepal have enjoyed cordial relations and developed strong bonds. He elaborated that Pakistan and Nepal share a unique tapestry from geography to civilizational linkages, from peaks of Himalayas to rich heritage, and cultural similarities unite the two peoples together. He hoped that building on existing collaboration in education, health, defense and the bilateral mechanisms, cooperation enabled by ICT, and concerns emanating from climate change could enrich this relationship.  

The Nepal Army band played tunes of national anthems at the reception, as well as few Pakistani songs captivating the audience.