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Prime Minister KP Sharma Oli has emphasized the need to promote and increase consumption of locally produced goods. 

Inaugurating the third general convention of Federation of Nepalese Industries and Entrepreneurs,  People's organization of the CPN (UML), here today, Prime Minister Oli urged to make the country self-sufficient, stressing on national production and consumption. 

He expressed the view that the government was ready to encourage the production of domestic goods in this sector. 

Minister for Water Supply Pradeep Yadav has said feasibility study of reservoir-based large drinking water projects was underway for long-term solution of drinking water. 

In today's meeting of the National Assembly, responding to a query of lawmaker Bhuwan Bahadur Sunar, Minister Yadav mentioned that the ministry has forwarded a feasibility study of reservoir based large drinking water projects including managing drinking water through wholesale distribution system making diversion of Sunkoshi and Raptikhola rivers in order to resolve drinking water problems. 

He added that projects related to deep boring have been started from the concerned project office in order to resolve the problems immediately in Tarai districts as the level of groundwater in Tarai-Madhes districts is decreasing.  

"Preparation of budget was underway in order to bring 280 drinking water projects including overhead tanks coordinating with provinces and local levels will be in operation from next fiscal year," shared Minister Yadav, adding that construction activities of 38 drinking water projects of Tarai-Madhes have been forwarded taking multi-year resource consent from the Ministry of Finance in the current fiscal year.  

The Water Supply Minister further said that there is a plan of initiating activities to carry out study and research to revive the water sources in hilly and mountainous areas and protection of water source with the collaboration of International Centre for Integrated Mountain Development. 

Activities to install chlorination units at every drinking water plant have been started to ensure safe drinking water, he mentioned. 

The Nepal Electricity Authority (NEA) has prioritized the construction of pumped storage hydropower projects to manage daily electricity demand fluctuations and enhance the country’s energy security. The NEA’s Project Development Department has identified 156 potential pumped storage projects nationwide.

Of these, 33 projects with a combined capacity of 42,000 MW have been shortlisted and categorized. A feasibility study is underway for a 332 MW pumped storage project in Syarphu Lake, Rukum (West), after obtaining a survey permit. Additionally, the 670 MW Dudhkoshi Reservoir Hydropower Project is studying a 200 MW pumped storage component.

A feasibility study is also being conducted for the 1,596 MW Hulingtar-Dukim Pumped Storage Project in Dhading’s Benighat Rorang and Chitwan’s Ichhakamana rural municipalities. Located near Kathmandu, this project benefits from access to roads, transmission lines, and other necessary infrastructure. The NEA’s Project Development Department is currently conducting a Detailed Engineering Study (DEX) for the project.

The project involves constructing two reservoirs by building 45-meter and 103-meter-high dams on the Hugdi (upper) and Mowa (lower) rivers, respectively. The power plant will be situated on the Mowa River. Electricity will be generated using water stored in the Hugdi reservoir, and after generation, the water will be pumped back from the Mowa reservoir to Hugdi. The project is designed to operate at full capacity for six hours during peak demand periods.

Pumped storage projects store water in an upstream reservoir during off-peak hours when energy prices are low. This stored water is later used to generate electricity during peak hours when demand and prices are higher. These projects play a crucial role in power system stability, peak demand management, and surplus energy utilization. They also enable Nepal to generate and consume electricity efficiently while exporting surplus energy to India at premium rates during peak periods.

On Saturday, NEA Executive Director Kulman Ghising, Project Development Director Nasibman Pradhan, and other officials inspected the Hulingtar-Dukim project site. Ghising highlighted the project’s advantages over others due to its strategic location, favorable environmental and social conditions, accessibility, infrastructure availability, and proximity to transmission lines and power demand centers.

Ghising stated that the project would initially be developed with a capacity of 510 MW in the first phase, eventually expanding to full capacity. “The process of obtaining a survey permit will be prioritized to accelerate construction,” he said. The project is expected to generate approximately 3.36bn units of electricity annually, with an estimated cost of $587,000 per megawatt.

The government has initiated preparations to prioritize programs in the upcoming fiscal year's budget aimed at addressing the challenges that Nepal could face following its graduation from Least Developed Country (LDC) status in 2026.

Concerns have been raised that Nepal’s current benefits in the global market may diminish after graduation. Post-graduation, Nepal will lose certain trade-related intellectual property advantages which could negatively affect Nepali products. However, government officials believe that proactive policy and diplomatic efforts could help mitigate these risks and maintain existing benefits.

In 2021, the UN General Assembly approved Nepal’s transition from an LDC to a developing country, based on the recommendation of the United Nations Committee for Development Policy. 

The Ministry of Finance has been engaging in discussions with relevant agencies to integrate the roadmap for Nepal’s graduation into the upcoming fiscal year’s budget. Intensive consultations have taken place between the National Planning Commission, the Ministry of Industry, Commerce and Supplies, and the Ministry of Finance on the issue.

Officials insist that there won’t be much impact from waiver of facilities post-graduation as it would not affect Nepal’s exports to India, its largest trading partner, which accounts for two-thirds of the country’s total trade. As a close neighbor, Nepal enjoys special concessions under bilateral agreements, which will remain intact even after graduation.

Nepal’s exports to China, where it enjoys duty-free access for several products, will also remain unaffected. Although current exports to China are minimal, the northern neighbor holds significant potential as a future export market for Nepal.

However, exports to other markets, such as the United States, the European Union (EU) and the United Kingdom—where Nepal currently benefits from LDC privileges—could face problems, according to finance ministry officials. They added that grant assistance could also diminish gradually post-graduation.

The finance ministry has stated that preparations are already underway to formulate new policies to address these issues. The goal is to align the graduation process with the budget’s objectives for sustainable development, a finance ministry official said.

During recent discussions, officials underlined the need to develop policies, plans and programs that will ensure the upcoming fiscal year 2025-26 is both smooth and sustainable and aligns with Nepal’s post-graduation strategies.

The finance ministry plans to support sustainable economic growth and job creation through fiscal policy, stable monetary policy and the effective operation of development assistance. Additionally, trade analysis and enhancing capacity and financial access for high-return projects are also among the ministry’s key priorities.

The criteria for LDC graduation include per capita gross national income, human asset index and economic and environmental vulnerability indicators, among others.

Officials say Nepal is expected to benefit from strengthened access to development and business investments, new trade and economic partnerships, sustainable development, enhanced national image, and increased credibility, among others, post-graduation.

The Kathmandu Upatyaka Khanepani Limited (KUKL) has made arrangements of water supply from a new distribution network by managing ponds located at 13 different places in the Kathmandu Valley. 

Chief of the Melamchi Drinking Water Project Implementation Directorate, Tika Bahadur Chaudhary, said the new arrangement was made to distribute water brought here from the Melamchi river in Sindhupalchwk in a proportional manner.  Arrangement has been made for turbidity and chlorine testing of water in all the ponds as well as quality measurement. 

Meanwhile, the KUKL has installed automatic electric meter at water taps in Chamati and Anamnagar areas for trial.

A federal judge instructed the Trump administration on Thursday to explain why its failure to turn around flights carrying deportees to El Salvadordid not violate his court order in a growing showdown between the judicial and executive branches, Associated Press reported.

U.S. District Judge Jeb Boasberg demanded answers after flights carrying Venezuelan immigrants alleged by the Trump administration to be gang members landed in El Salvador after the judge temporarily blocked deportations under an 18th century wartime law. Boasberg had directed the administration to return to the U.S. planes that were already in the air when he ordered the halt.

Boasberg had given the administration until noon Thursday to either provide more details about the flights or make a claim that it must be withheld because it would harm “state secrets.” The administration resisted the judge’s request, calling it an “unnecessary judicial fishing” expedition, according to the Associated Press.

Experts and politicians have said that Nepal should learn lessons for the country's economic growth and physical prosperity from China's development initiatives.

At a program organized by Friends of Silk Road Club-Nepal on 'China's Two Sessions 2025: Lessons, Opportunities, and Implications for Nepal' on Thursday, they stated that Nepal can learn lessons and benefit from China's economic rise made in the last four decades.

Standing Committee Member of the CPN-UML and former Industry Minister Karna Bahadur Thapa said we should expand Nepal-China relations and take maximum benefits through partnership for the implementation of sustainable development policies. "For this, we should deepen our diplomatic ties through political level," Thapa added.

Likewise, CPN (Maoist Center) central committee member and Bagmati Province Assembly Member Yubraj Chaulagain called for intensive collaboration on economic issues between Nepal and China adding that rising economic power of China could be beneficial for Nepal's development efforts.

Similarly, Nepali Congress central committee member Madhu Acharya argued that Nepal could advance ahead by taking technical expertise from China adding that China's stride in technological advancement was impressive.

Also speaking at the programme, Executive Director of CEDA of Tribhuvan University (TU) Prof Dr Arjun Kumar Baral and foreign affairs expert Gopal Khanal said that China's strategies on economic growth, industrialization, modernization, good-governance and reforms are the key areas that Nepal should learn from Chinese experiences.

General Secretary of Club Dr Kalyan Raj Sharma stressed the need of investment partnership with China adding that Nepal can bring in a huge amount of FDI from China by further deepening our ties.

Minister for Industry, Commerce and Supplies Damodar Bhandari and Deputy Prime Minister and Minister of Foreign Affairs of Moldova Mihai Posoi held a meeting on Thursday.

The Deputy Prime Minister and Minister of Foreign Affairs of Moldova Mihai Popsoi arrived in Kathmandu on Wednesday for a two-day visit to Nepal.

According to Minister Bhandari's Secretariat, Minister Bhandari shared his satisfaction with the cordial relations between the two countries since the diplomatic ties in 1993. 

Bhandari stated that the two countries can work in the areas of economic sector, agriculture, tourism, renewable energy, information technology, education and others by exploring new potentials for mutual cooperation.

The two leaders discussed the ways to increase the business volume between Nepal and Moldova.

Likewise, the Moldavian Deputy Prime Minister said that Nepal and Moldova can take initiatives for partnership to send Nepali migrant workers there as there are employment opportunities for Nepali nationals in Moldova.