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Prime Minister Pushpa Kamal Dahal said that the government was committed to accelerate the country's economic transformation by boosting the morale of entrepreneurs and investors.

Addressing the 58th annual general assembly of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) today, PM Dahal reiterated that the government had prioritized healthy and strong regulation of the financial system and to create an enabling environment for the private sector to work with high morale.

Urging all organizations and representatives of private sectors to proceed with high morale, the PM underscored a strong unity among the government and private sector to address the concerns and demand of the entrepreneurs and investors. 

Stating that the private sector had been playing a leading role in bolstering production, job creation and increasing investment, the Head of the State said that the three-tier government had been coordinating with the private sector in formulation of policies, programs and budget.

He observed that Nepal was focused at achieving Sustainable Development Goals (SDGs) by 2030, upgradation from the least developed country to developing country's status by 2026 and achieving balanced development and prosperity. He called for expansion of investment from both the government and private sector to achieve these set goals.

Furthermore, PM Dahal informed that the government was moving ahead with concrete homework and preparations to make the upcoming Investment Summit effective and result-oriented.

"There are plenty of challenges and limitations in our policies, laws, thinking, structure and working style to create a favorable climate for investment and attract investment," he admitted.

According to him, the government was prepared to consider an amendment in the laws by introducing ordinance if need be and to put in place simplified policies and procedures to attract investment."

Noting that the internal and external indicators of the economy are on a positive trend, PM Dahal said it is a matter of happiness that the primary economic indicators are improving thanks to the harmony between the financial and monetary policies and the strong private sector collaboration.

He added that still the economy remains to achieve the expected level of progress in tandem with the national aspirations and needs.

"The government is committed to forge ahead with additional commitment to expedite the process for improving the economy," he said.

Stating that the government has, from this year revised the policy, modality and the schedule related to the budget by bringing a bill with the realization that the country's prosperity and transformation was not possible with the traditional form of policy, program and budget, Prime Minister Dahal hoped that this time intensive discussions and interaction will be held among the people's representatives, industrialists and businesspersons, intellectuals and the general public on the government's policies and programs.

"The government shall formulate scientific policy-programs and budget even in the midst of unlimited aspirations and limited means and resources. I consider this as an important base point of a new break from the past in the economic sector," he reiterated.

The PM said that the upcoming policy-programs and budget should stress on production growth, employment generation and on promotion of agriculture-based industries. "We used to see from the instances of other countries that the achievements of other sectors of the economy would not be sustainable if domestic production and employment do not increase. Now we are ourselves experiencing the same. This problem would be addressed this time," he further added.

Prime Minister Dahal said the government is doing homework to orient the unspent project budget that is accumulated at one place towards strengthening the economy and transferring it to the projects capable of spending it. RSS

The Election Commission (EC) has enforced the election code of conduct for the April 27 by-elections announced for the Ilam constituency-2 and the Bajhang Province Assembly 1(A).

The House of Representatives (HoR) by-election is taking place in Ilam and the Provincial Assembly election in Bajhang.

The election code of conduct aims to ensure that the elections will be held in a free, fair, safe, and credible atmosphere, it is said.

 According to EC Spokesperson Shaligram Sharma Poudel, the election code of conduct is applied to political parties, election candidates, sister, and other affiliated organizations, and all the stakeholders and its violation is punishable by law. It has also set limits for the election expenditures for political parties and the candidates.

The pre-election campaign which includes the publicity campaign, rallies, mass meetings, corner meetings, other gatherings, and the use of the means of transport and media shall be in line with the provisions mandated by the code of conduct.

Nepali Congress lawmakers Dhanraj Gurung, Badri Pandey and Jeevan Pariyar have registered a proposal of public importance in the parliament regarding the investigation of wealth and assets of public office holders and their families. 

The proposal, registered with the Task Management Branch of the House of Representatives on April 9, falls within the ambit of the Ministry of Home Affairs. Interestingly, the main opposition party has been obstructing the House session demanding a parliamentary probe into Home Minister Rabi Lamichhane’s alleged involvement in misappropriation of funds deposited in a Pokhara-based financial cooperative.  

If the proposal is discussed in the parliament, Home Minister Lamichhane will have to furnish replies on the matter.

“There’s a prevailing practice of forming a high-level commission to investigate the wealth and assets of public office holders. A judicial investigation panel was formed on 8 March 2002 to investigate the wealth and assets of all incumbent and retired public office holders accumulated till 1990. The panel’s report needs to be made public,” the proposal undersigned by Gurung, Pandey and Pariyar states.

The Congress lawmakers argue that while the Corruption Prevention Act, 2003 stipulates a mandatory condition of wealth and asset disclosure applicable to all public position holders and their families, it remains unimplemented. The lawmakers have sought effective implementation of the anti-graft legislations to curb corruption and irregularities, maintain public trust in governance, make the activities of public office bearers transparent, accountable and responsible.

One of their chief demands is conducting a parliamentary discussion on publicizing the report, submitted by the judicial investigation panel formed in 2002, detailing the wealth and assets of public office holders and their families. They have also called for a continued scrutiny of their assets beyond the reporting period.

Key demands

• Unveiling and and implementation of the report on the fortunes of public office holders and their families submitted by the judicial panel formed 22 years ago
• Investigation into the properties of public position holders, including incumbent and retired prime ministers, ministers, members of parliament, chief ministers, provincial ministers, elected local government officers and their close family members
• Formation of a separate commission to investigate the wealth and assets under the ownership of past and present public office holders, as well as their family members

The price of gold has increased by Rs 500 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow metal is being traded at Rs 136, 800 per tola today. It was traded at Rs 136, 600 per tola on Tuesday.

Similarly, tejabi gold is being traded at Rs 136,150 per tola today. It was traded at Rs 135,650 per tola.

Meanwhile, the price of silver has increased by Rs 15 and is being traded at Rs 1, 700 per tola.

At a time when only six years are left to achieve sustainable development goals (SDGs), the global efforts towards sustainable development have witnessed severe setbacks resulting in crisis.

A UN report released yesterday asserted that financial challenges are behind the present sustainable development crisis, while countries are not only slow off the mark but also deviated to realize 2030 Agenda for Sustainable Development. 

The 'Financing for Sustainable Development Report, 2024' prepared by the UN Inter-agency Task Force on Financing for Development, stated, "Countries are off track on the 2030 Agenda for Sustainable Development, with around half of the 140 SDG targets for which sufficient data is available deviating from the required path."

According to the report, it is a present projection that almost 600 million people- more than half of them women- will languish in extreme poverty in 2030.

Importantly, the UN report has pointed to a dearth of finance to cope with pressing problems such as the climate crisis along with SDGs. "The unmet financing needs for SDGs and climate action are estimated to be in the trillions of dollars annually," the report reminded.

Moreover, acute financing needs are seen in developing countries in particular, which the report argues, "They face higher costs of capital and significantly worse terms of access to financing. Due to misaligned incentives, both public and private actors still invest in brown activities and have not yet fully aligned their decision-making and financing with the SDGs."

The technological change, especially digitalization has been mentioned as a factor affecting the financial area. Fragmentation of the global economy is taken as an equally increasing threat. The new trends, despite creating some opportunities for development, are major stressors in national and the international financial fronts.

It is worth noting that the SDG Summit in September 2019 had called for 'Decade of Action', promising to channel financing and boost national implementation along with the reinforcement of institutions to realize the goals. But, the global health crisis caused by COVID-19 and subsequent effects on the world economy resulted in slow progress toward this end.

Chair of the Inter-agency Task Force, and Under-Secretary-General for Economic and Social Affairs, UN, Li Junhua, observed, "Financing challenges—including an investment crisis, driven by a sluggish global economy and tight financing conditions—have hampered our progress, preventing the urgently needed investment push in the SDGs."

He, however, sees opportunity in the challenges, arguing, "Amid these challenges there lies opportunity. If we can address the big financing challenges of today— close the growing financing gaps, fix the international financial architecture, and create enabling environments at all levels to finance the ambitious transformations we need—then we can still succeed. It will be difficult, but it is doable."

To this report, UN Secretary General Antonio Guterres underlined, "Our proposed SDG Stimulus of USD$500 billion per year of additional investments in sustainable development and climate action includes concrete steps that global leaders can take right now."

The UN defines 'sustainable development' as: 'Development that meets the needs of the present without compromising the ability of future generations to meet their own needs.' It underlines the need for concerted efforts so that an inclusive, sustainable and resilient future would be created for the people and planet.

After wrapping up the millennium development goals (MDGs), the UN member states had launched 17 SDGs in 2015. Since then, every UN member has been setting targets and implementing action plans and monitoring and evaluating these at national level, and sharing achievements at regional and global forums.

The national budgets and periodic plans are aligned with SDGs in order for their better localization.

The 5Ps focused by the SDGs are- people, planet, prosperity, peace and partnership.

Deputy Prime Minister and Minister for Physical Infrastructure and Transport Raghubhir Mahaseth inaugurated the charging station established in the premises of Sajha Yatayat in Pulchowk, Lalitpur.

Speaking at the inauguration ceremony, Minister Mahaseth said that the government has trusted the Sajha Yatayat in the expansion of public transport, according to HimalKhabar. 

He expressed his hope that the service of Sajha will be more effective in the future.

Speaking at the same program, Minister for Land Management, Cooperatives and Poverty Alleviation Balram Adhikari said that the Sajha Yatayat has been established as an organization which has won the trust of people since the past.

He also hoped that Sajha’s electric journey would be sustainable and long-term.

On the occasion, Sajha Yatayat Chairman Kanakmani Dixit said that forty electric buses and a charging station were brought into operation with Rs 3 billion provided by the government in the first phase as per the policy to spend the amount in three phases.

He also informed that there are 24 charging mechanisms consuming 1.2 megawatt electricity in the charging station installed in the premises of Sajha Yatayat.

Similarly, saying there is a lack of space for the buses to be brought in the future, Dixit said that they are coordinating with 14 municipalities of the Kathmandu Valley to expand charging stations.

He said that the country will witness significant changes if the public vehicles are transformed into electric. Chairman Dixit further added that the public vehicles will not be expanded in Nepal without participation of the private sector.

He went on to say that the Sajha has started a process to learn technology by converting diesel buses into electric in collaboration with Solution Plan.

Meanwhile, he announced to give two buses of Sajha to the Pokhara International Airport.

Currently, the Sajha has been operating 111 buses including 71 diesel buses with 50-passenger capacity and 40 electric buses.

Dixit added that the Sajha has been planning to bring a 12-meter-long bus in the near future and to expand the service between Kathmandu and provinces under ‘provincial service’ like in the past.

Also speaking at the program, Lalitpur Metropolitan City Mayor Chiribabu Maharjan said that Lalitpur has made a huge investment in Sajha Yatayat after Kathmandu Metropolitan City. He said that the Metropolitan City has a plan to expand the bus services soon in the inner roads.

Likewise, Nepal Electricity Authority Managing Director Kulman Ghising said that the electric vehicles have replaced fossil fuel consumption of around Rs 20 million per day.

“The operation cost will be reduced from 10 to 15 percent if the public vehicles are converted to electric,” Ghising said.

He said that around Rs 5 billion will be saved if the public vehicles are transformed into electric.

The UN Secretary General, António Guterres, has shown willingness to strengthen cooperation with SAARC.

The UN Secretary General expressed the desire of the UN to strengthen cooperation with SAARC, which represents the 'Large Chunk of Global Population'. He expressed it during a courtesy call  Secretary General of SAARC, Golam Sarwar, had paid to him at UN Headquarters in New York on April 8.

In his opening remarks, Ambassador Sarwar appreciated UN Secretary General for UN’s steadfast commitment and support to SAARC, which is an Observer Organization of the UN since 2004, according to SAARC secretariat, Kathmandu.

The visiting Secretary General of SAARC had extensive discussions on further strengthening of relations between SAARC and UN in multiple areas of mutual interest especially climate change, food security and renewable energy collaborations.

While highlighting that SAARC has signed Memorandums of Understating (MoUs) with UN agencies including UNDP, FAO, UNEP, UNISDR, UNESCAP, UNTAD, UNICEF, UNESCO, WHO, UNAIDS, UNFPA and UNWOMEN, Ambassador Sarwar further stated that several of these MoUs need to be updated taking into account the present context in order to augment existing ties between two parties.

Given the potential of reinforcing project-based collaboration between both organizations, Ambassador Sarwar proposed a joint meeting of the SAARC secretariat and UN agencies in Kathmandu at the SAARC secretariat, in the near future as a brainstorming session to identify forthcoming areas for further collaboration.

UN Secretary General Guterres welcomed the proposal and emphasized on the elevation of the cooperation between SAARC and the UN. He also instantly instructed his office to connect the SAARC secretariat with relevant officials of the UN Headquarters for the sake of effective Sectoral Cooperation.

In a bid to boost effectiveness and sustainability of the secretariat, Ambassador Sarwar explored the avenues for capacity building opportunities for the officials of the SAARC secretariat.

Moreover, UN Secretary General Guterres assured continued UN support and assistance toward SAARC and both dignitaries during the meeting agreed to work closely to further enhance the existing ties between SAARC and UN in the coming years, reads a press statement. 

Nepali lyricist Lokraj Adhikari has been nominated for the prestigious 6th ISSA Awards.

The awards, organized by the International Singer and Songwriters Association (ISSA), will be presented during a ceremony to be held in Atlanta, US, on August 24.

Adhikari has appealed for votes from all Nepali music lovers. Likewise, the Nepal Lyricist Association and Nepal Music Industries Association have also urged everyone to vote for Adhikari.

Electronic voting began on April 2. According to the association, one needs to visit the webpage www.issasongwriters.com, click on the '2024 Vote' menu, select the option to vote for international competitors, go to the 'International Male Songwriter of the Year' category, and place a tick mark next to the name to cast a vote. Votes can be cast from computers, laptops, tablets, or mobile phones.

The organizers published the list of nominees in various 46 categories last Monday. Adhikari is the only Nepali nominated in the 'Male Songwriter' category. Along with Adhikari, there are 68 nominees from various countries such as the Netherlands, Greece, Ghana, Ireland, Iceland, Russian Federation, Denmark, Sweden, Malawi, Canada, Australia, UK, Brazil, Italy, South Africa, Philippines, Uganda, Israel, Japan, and Germany in this category.

Last year, Indian singers SP Balasubrahmanyam and SJ Jananiy won the Bronze Award in the Duet category from Asia. In previous editions, there had been no participation from any Asian country.

Adhikari has said that he considers this nomination as the representation of the entire Nepali-speaking songwriting community on the international stage. The organizers have stated that the 68 nominees will be shortlisted to 20 on May 2.

According to Adhikari, all nominees have been invited by the organizers to participate in the red carpet event.

Adhikari has also urged everyone from home and abroad to vote and help Nepal make it to the top 20.

Songwriter Adhikari's songs like 'Timle Parai Thanepachi', 'Rupai Mohani', 'Baja Bajaudai', 'Marchu Baru Chhatpatima', 'Hepni Malai', 'Bhannuhunthyo Ba Le', 'O O Mero Paran', 'Feri Ek Huna', 'Ghankaideu Madalu', and 'Rupauli Rani' are popular among audiences.