Submit your Article

Indra Baniya has been elected the Parliamentary Party Leader of Nepali Congress in Bagmati Province Assembly .

In the election held today Baniya defeated Chief Minister Bahadur Singh Lama by receiving 22 votes against 14 votes. According to the election committee, one vote was invalid. 

A total of 37 Province Assembly members participated in the voting. 

It may be noted that during the previous election held for the same post between Baniya and Lama, Lama defeated Baniya by five votes. 

Lama garnered 21 votes while Baniya secured 16 votes.

The Ministry of Finance has formed a taskforce for the formulation of a law to help improve budget discipline in the country. 

Chief of Fiscal Federalism Coordination Division under the Ministry of Finance, Mahesh Baral has been assigned the coordinator of the taskforce, said the Secretariat of the Minister of Finance. 

Other members in the taskforce include Under Secretary in the MoF Budget Formulation Division, Under Secretary in the Legal and Judgement Execution Division and former Joint Secretary Nirmal Hari Adhiakri as a theme expert while Under Secretary of the Fiscal Federalism Division has been entrusted as member-secretary of the taskforce. 

It may be noted that point number 359 of the budget speech of the current fiscal year has stated to maintain allocation efficiency and increase efficiency of public financial management, enhance the outcomes of public spending through budget discipline and consolidate cash flow management for maintaining balance in the Federal Reserve Fund. 

Likewise, it has also specified provisions to utilize the public borrowing in the productive sector in a sustainable manner, and execute the public financial management strategy. 

The point number 371 of the budget speech has mentioned about the formulation of a law to consolidate budget discipline at federal, provincial and local levels as per the constitution. 

The MoF has formed a taskforce to implement the arrangements specified in the budget speech.

Prime Minister KP Sharma Oli has said that the electricity tariff for irrigation has been fixed at only Rs 3 per unit. 

Taking to his social media today, the Prime Minister has also said that 500 deep borings are being dug in the drought-stricken Madhes Province.

“The work of digging 500 deep borings has started in the Tarai. Farmers will be charged only Rs 3 per unit of electricity for irrigation,” Prime Minister Oli has noted.

Foreign Minister Arzu Rana Deuba has said that Nepal has been strongly raising the issue of climate justice in international forums.

At a program organized by Nepal Tarun Dal, Kaski, at Pokhara on Wednesday, Foreign Minister Rana expressed the view that Nepal should get compensation through a Fund for responding to Loss and Damage. 

Stating that Nepal had raised a voice related to this issue in the International Court of Justice, the Foreign Minister said that Nepal has been facing negative impacts of carbon emission by developed countries. 

"We strongly raised the issue that Nepal should get compensated for loss and damage and our damaged physical structures like bridges and school buildings should be built", she mentioned, adding "Nepal should lower carbon emission to net-zero. A tree plantation campaign should be launched to expand the forest area which now stands at 45 percent."  

Stating that climate change has invited a major challenge, Minister Rana stressed the role of the new generation is important to lessen its risks.

"It is necessary to plant trees, to reduce the use of plastic, to increase the use of electric vehicles and renewable energy to protect the coming generation from climate change impacts", she argued.

The Foreign Minister further said Nepal's independence and sovereignty have been established in the world due to its stable foreign policy, sharing, "Nepal has its own foreign policy. It has its own identity in the world community and we have been maintaining it since long. It is a matter of pride for all."

Similarly, National Assembly member and outgoing central President of Nepal Tarun Dal, Jit Jung Basnet, urged the Tarun Dal to hold its convention of all-levels on time. 

He emphasized on the implementation of a seven-point deal signed between Nepali Congress and CPN-UML during formation of the government. 

Likewise, Tarun Dal President Bidhwan Gurung urged the members of the organisation to be involved in rescue and relief in the event of a disaster. 

Stakeholders have emphasized on the need for an early warning system to help reduce weather-related multi-disaster risk.

At a consultation organized by the Department of Hydrology and Meteorology and the United Nations Development Program (UNDP), various speakers said that an early warning system (EWS) is necessary to minimize damage as weather-related disasters have been increasing of late.

On the occasion, Director General of the Department, Kamal Ram Joshi, said that early warning is necessary in a country like Nepal with a complex topography, where the risk of water and weather-related multi-disasters created by climate change and its effects is increasing.  “An early warning system is necessary to minimize the human and economic losses that may occur from such disasters,” he said.

Deputy Director General, Suman Kumar Regmi, said that to make the early warning system effective it is necessary to improve the importance of monitoring and forecasting, the need for available resources, technology, infrastructure, institutional capacity and service expansion in a timely manner.

Joint Secretary of the National Disaster Risk Reduction and Management Authority, Arjun Kumar Bam, said that a reliable early warning system will not only reduce the impact of natural disasters but also play an important role in protecting the lives and livelihoods of communities.

UNDP's Climate Change and Resilience Program Analyst Deepak KC said that the Early Warning for All campaign launched at the initiative of the United Nations will help identify the gaps in the EWS and determine the necessary programs.

The Early Warning for All campaign aims to protect all citizens of the world from early warning services by 2027.

Meteorologist Shanti Kandel said that due to the early warning system, damage caused by floods has been reduced in recent times and that an early warning system is also necessary for other multi-hazards.

Manarashisawa Municipality has exempted the land revenue so as to render economic relief to the farmers of the dry-hit zone. 

The municipality has announced to waive hundred percent tax to the farmers in the land during the current fiscal year. 

Issuing a press release, the municipality has said the decision on exemption of hundred percent land revenue has been made as the farmers have been deprived of transplanting paddy in the field due to lack of irrigation. This is likely to lead to an economic crisis resulting from the dearth of food production. 

Likewise, Sarlahi's Dhankol Rural Municipality and Godaita Municipality have also announced land revenue exemption to farmers in the current fiscal year. 

Prime Minister KP Sharma Oli has said Nepal's preparations for its graduation from the category of the least developed country (LDC) to a middle-income country indicate its headway towards self-sufficiency. Nepal's LDC graduation promotes the country's images globally, according to the PM. 

In his replies to the concerns raised during the discussions on the study report in regard to Nepal's LDC gradation, 2081 BS in the Upper House today, the Prime Minister said Nepal's graduation will contribute to strengthening Nepal's country rating index, creating an atmosphere for attracting foreign investment. 

It may be noted that Nepal was listed as the LDC by the United Nations (UN) General Assembly on November 18, 1971. 

At present, Nepal chairs the LDC group comprising 45 countries. It has been preparing for its graduation from the LDC category to a middle-income country after 55 years. 

Nepal is scheduled to graduate in November, 2026. 

PM Oli said, following the graduation, Nepal is expected to get more opportunities for strengthening its economic diplomacy through visit diplomacy, the Sagarmatha Sambaad and investment conferences.   

"Indicators of economic improvements have been now noticed. The current 16th Periodic Plan was prepared with the projection of the post-graduation situation," the Prime Minister said. 

PM Oli informed, "Upgrading Nepal as a developing country may result in reduction of some facilities in various sectors it has been receiving as the LDC."

Oli, however, cautioned that the impact of climate change and natural disasters could hinder Nepal's progress and graduation from the LDC status.

In consideration of such prospects, he said that Nepal had been making diplomatic efforts internationally through relevant bodies. He called for collaborative efforts for the development and emphasized the need to increase production and productivity. 

"Let's make collaboration for developmental endeavors," urged the septuagenarian leader.

It may be noted that Nepal had been working towards upgradation since 2010 through various plans, budget and annual plans and programmes. 

The UN reports in 2015, 2018 and 2021 showed Nepal's progress in Human Assets Index and Economic and Environment Risk Index.

Nepal is getting a chance to upgrade itself to the developing country by 2026 mainly due to recently achieved notable growth in per capita income. 

For a smooth passage to developing country status, the government has been implementing six key strategies through a high-level steering committee led by the PM to ensure Nepal's graduation to the developing country. 

PM Oli, during his address, mentioned that Nepal had taken forward necessary processes to repeal, revise and formulate some laws for sustainable upgradation. 

PM Oli shared that efforts are being made to make Nepal a land-linked country from the landlocked one through enhanced infrastructures and connectivity network.  

Sharing that efforts are made to develop value chains through the multinational companies, the PM informed the NA that the government has prepared necessary strategies against the potential impacts on the private and business sectors after the LDC graduation. The strategies include the reforms measures to be taken in labour and employment, he said. 

The PM claimed that Nepal meets all criteria for the LDC graduation adding that our economy was on the positive growth even the global economy witnessed a negative growth. 

Oli shared that attempts have been made to further strengthen Nepal's foreign relations through effective diplomacy and effectiveness was ensured in the implementation of the international treaties and agreements.

Likewise, the PM said the government was focused on amending the Procurement Act and different policies and laws related to the construction field. 

Similarly, the PM urged the lawmakers not to generate narratives on rampant corruption based on the government actions against the corrupt figures.  

The PM also informed the NA about his visit to Turkmenistan on August 3 to take part in the Third UN Conference on Landlocked Developing Countries.

Liverpool winger Luis Diaz has completed a £65.5m move to Bundesliga champions Bayern Munich, BBC reported.

The Colombia international has signed a four-year deal with the German club to bring his three-and-a-half-year stay at Anfield to an end. 

The 28-year-old was left out of Liverpool's pre-season match against AC Milan on Saturday because of speculation over his future.

Having rejected Bayern's opening offer of £58.6m earlier this month, Liverpool accepted a follow-up bid of £65.5m over the weekend and gave Diaz permission to have a medical with the club, according to BBC.