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Lawmaker Dr Swarnim Wagle has advised the government to implement its announcement to initiate a new phase of economic reforms.

In deliberations on the Appropriation Bill-2081 BS in a meeting of the lower house today, the lawmaker and economist suggested the government to focus on credibility and capacity enhancement, regulation of capital expenditure, and escalation of the size of the economy.  

Of late, the size of the economy has reduced to less than 30 percent as expected and this should be considered as a phase of safe landing.

The deliberations were dedicated to the budget allocated under various headings of the Ministry of Federal Affairs and General Administration, the Ministry of Energy and Water Resources, and the Finance Ministry.

The lawmaker underlined the need to switch to the production and use of modern energy sources from conventional ones.

Drawing the attention of the government to increasing energy insecurity due to a lack of balance between the power generation during monsoon and other seasons, he wanted the government to address this issue.

He said that the goals and direction of the budget are welcoming and the participation of the private sector is necessary to bridge the capital gap remaining as a challenge for the implementation of the budget.

CPN-UML lawmaker Yogesh Kumar Bhattarai has emphasized on policy and structural change in the budget-making process.

Participating in the discussion on the allocation of various ministries under the Appropriation Bill, 2081 BS in today's meeting of the House of Representatives, Bhattarai complained that the budget book was filled up with 'small pocket' projects.

Urging to improve the situation of low capital expenditure and high financial expenditure, lawmaker Bhattarai remarked that "Pocket Bank" was used as a basis for budgeting without following the "Project Bank".

He further urged for giving up the illusion that elections could be won by taking small projects dispersed in the election constituencies.

Though the issue of taking advance tax in customs is fine in terms of increasing the income of the state, it will badly affect the consumers, he said.

Bhattarai further complained that the budget was not prepared after proper discussions with coalition parties in the government.

He urged the government to advance the Tamor Reservoir Project, which would be easy in terms of investment, as it is positive that the energy sector is being made the basis of Nepal's prosperity.

The Tamor project is located in Taplejung, Panchthar and Dhankuta districts.

Nepali Congress (NC) lawmaker Bishwa Prakash Sharma has said that there should be no budgetary and operational issues regarding the national projects including the Budhigandaki Multi-Purpose Hydropower Project.

Taking part in deliberations on the Appropriation Bill- 2081 BS in the lower house session today, the lawmaker urged the government to be clear about the modality of the project operation. "We have already withdrawn the decision to give it to a foreign company. If the soft loan is managed for its implementation, it is better. But we should not opt for foreign loans with a high interest rate."

He said that the government-diaspora-private (GDP) model will be appropriate for the Project, advising the government not to seek an excuse regarding its implementation citing a budget deficit or an economic crisis.  He urged the government to take challenges for development and set examples for others as well.

He pressed an idea for developing the Project site into a touristic site, expressing his hope that the ruling and oppositions would stand together to ensure the implementation of the Project.

The Nepal Stock Exchange (NEPSE) plunged by 17. 04 points to close at 2,095. 25 points on Sunday.

Similarly, the sensitive index dropped by 3. 25 points to close at 370. 93 points.

A total of 13,223,884-unit shares of 317 companies were traded for Rs 5. 47 billion.

Meanwhile, Nepal Finance Ltd. (NFS) was the top gainer today with its price surging by 10. 00 percent. Likewise, Bhagawati Hydropower Development Company Limited (BGWT) 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 3. 32 trillion.

Nepal's first cable car, Manakamana cable car will be closed for 50 days for the maintenance and upgradation.

Manakamana Darshan Pvt Ltd has informed that the service will be closed for about 50 days from July 15 to upgrade the cable car digital system.

Deputy General Manager of Manakamana Darshan Pvt. Ltd. Ujjwal Sherchan informed that the cable cars in 'analog' technology are going to be upgraded to modern digital technology with fiber.

According to him, along with upgrading the digital system, the main wire is also about to be replaced.

Sherchan, said that the main cable wire rod is about to be replaced after 26 years of its establishment. He said that skilled technicians will come from Australian Doppelmayr Company for the upgrade works. The Manakamana cable car is being upgraded in various stages.

For the convenience of the pilgrims to a famous religious place in Sahid Lakhan Rural Municipality of Gorkha district, the cable car service was brought into operation on 24 November1998. 

Manakamana Darshan Pvt Ltd said that although the cable car service is closed, the restaurant service at the entrance (bottom station) of the cable car located at Ichchhakamana-4 Kurintar (Cheres) in Chitwan will remain open.

Prime Minister Pushpa Kamal Dahal advocated for collaboration and cooperation among the three-tier government, local communities, and authorities in conserving the Chure region.

Speaking at a tree plantation program commemorating the 10th Chure Conservation Day, the Prime Minister said that the conservation of the Chure is a multifaceted issue connecting to the livelihoods of Tarai-Madhesh people. He stressed the necessity of combined efforts for its preservation.

Highlighting the need to implement the 20-year Chure Tarai-Madhesh Conservation and Management Master Plan endorsed in 2074 BS, with subsequent amendments, the Prime Minister said the need for a dedicated act on the Chure conservation has been realized and the government is coordinating towards that end.

He praised the successful afforestation program, speaking of its positive impact on raising awareness about forest and wildlife conservation.

Around 10,000 hectares of open and abandoned land have been afforested with various plant species under the Rastrapati Chure Tarai-Madhes Conservation Development Committee, he added.

PM Dahal on the occasion applauded the Committee's role in promoting greenery and maintaining ecosystem balance.

He urged all stakeholders, including local governments, to prioritize the conservation of newly planted trees, wishing that the Green Campaign would contribute to enhancing people's livelihood in the Chure Tarai-Madhes region.

Prime Minister Dahal further shared that the Chure hill range that spreads over 37 districts from Ilam in the east to Kanchanpur district in the west of the country is very sensitive from a geo-biological and geological point of view. It is rich in biological diversity and is the habitat of and biological route for rare wild animals.

"The Chure hills system is the water source for the Tarai-Madhesh, the natural resources in the Chure area are the lifeline for the people living in the lowland region, i.e. Madhesh," said the Prime Minister.

 "Today, the natural resources in the Chure conservation area knowingly and unknowingly are under the vicious cycle of human encroachment. Physical infrastructure development without preparing the detailed project report, engineering design and environmental impact study has weakened the Chure mountain range,” he said.

Stating that the exploitation of Chure area has increased due to the collection and excavation of stones, gravel, and sand, Prime Minister Dahal mentioned that it has created a serious crisis in the environmental integrity of the river system.

He said that the protection of the Chure region is becoming a challenge day by day due to increasing population in Chure area, unorganized settlement, human encroachment upon forests, forest fires, uncontrolled cattle grazing and exploitation of river materials, unorganized physical infrastructure construction, soil erosion.

"Only if nature is clean, our lives will be safe and only if we protect nature, nature will protect us," the PM reiterated.

He called for saving the people of Tarai-Madhesh from disasters and protecting and preserving the forests, flora, fauna and ecological system in the Chure area.

The Prime Minister urged the three levels of government and all the state agencies to collect and excavate stones, gravel and sand only by conducting environmental studies in accordance with the concept of systematic physical development, taking care of the right of the future generations to live in harmony with nature there.

The price of gold has increased by Rs 1, 600 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 142, 800 per tola today.  It was traded at Rs 141, 200  per tola on Friday.

Similarly, tejabi gold is being traded at Rs 142, 100 per tola. It was traded at Rs 140, 900 per tola.

Meanwhile, the silver is being traded at Rs 1,820 per tola today.

President Ram Chandra Paudel reached Berlin on Saturday.  He paid an official visit to Germany at the cordial invitation of President of the Federal Republic of Germany Dr Frank-Walter Steinmeier.

Ambassador of Nepal to Germany Ram Kaji Khadka and senior officials from the Federal Foreign Office and the Office of the President of the Federal Republic of Germany welcomed the President and members of his entourage upon arrival at Berlin-Brandenburg International Airport, according to the Embassy of Nepal in Berlin.

President Paudel is accompanied by his spouse Sabita Paudel, Foreign Affairs Expert Dr Suresh Chandra Chalise, Foreign Secretary Sewa Lamsal, Secretary at the Office of the President Dilliram Sharma and senior officials of the Ministry of Foreign Affairs and Office of the President of Nepal.

This is the first official visit from Nepal at the level of the Head of State to Germany since 1986.

Official talks are scheduled to be held between President Paudel and the President of Germany on Monday, the Embassy has said.

Diplomatic relations were established between Nepal and Germany in 1958.

President Poudel is scheduled to return home on June 19.