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Kathmandu: Finance Minister Prakash Sharan Mahat on Monday presented a somewhat rosy picture of the national economy, while washing the government’s hands of a highly controversial transaction involving NCell, a telecom service provider company. 

Mahat said the economy was recovering gradually and expressed hope that an increasing inflow of tourists as well as remittances will give the economy a boost. 

Many policy-level decisions have been taken for improving the economy, Mahat said: It will take some time for the economy to fully revive. 

Responding to journalists' queries regarding the sale of NCell’s shares, Minister Mahat claimed that the government had no knowledge of the transaction.  "We have been gathering information on this transaction. Telecom (Nepal Telecommunications Authority) is the regulatory body whose permission has to be sought while carrying out such a huge transaction." Minister Mahat said the government is inquiring with Telecom officials regarding the impact of the transaction.

Kathmandu: Prime Minister Pushpa Kamal Dahal has shown willingness to visit Russia and host Russian President Vladimir Putin in Kathmandu, arguing that this is the right time for high-level visits. 

In an interview with Russian News Agency TASS, PM Dahal said the time was ripe for high-level visits between the two countries. "We hope that (there will be) a high-level visit, which is quite necessary," he noted. Putin can come to Nepal and I can also go to Russia," Dahal said.

If there is a high-level visit, the prime minister added, “things will move in a very positive direction."

Dahal noted that he had had an opportunity to meet with Putin at the 2016 summits of the BRICS group and the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in Goa. "Unfortunately, we could not have separate discussions with President Putin,” Dahal added. 

Meanwhile, Kremlin Spokesperson Dmitry Peskov has said Putin’s potential visit to Nepal or Dahal’s arrival in Russia has not been agreed upon as yet.

“No, there are no specific agreements, this will be discussed through diplomatic channels," he said in response to a TASS question. 

According to TASS, Nepal expects Russian cooperation in the implementation of major infrastructure projects, including in the hydropower sector.

“Our priority is mega hydro projects," he said, citing the Karnali Chisapani hydropower project as an example.

Nepal is all set to get its first woman foreign secretary in its diplomatic history. A source at the Ministry of Foreign Affairs says Sewa Lamsal, the senior-most joint secretary at the ministry, is set to replace the incumbent foreign secretary Bharat Raj Paudyal.

Lamsal has also been working as the spokesperson for the Ministry of Foreign Affairs since 2020. Earlier, she served as Nepal’s ambassador to Pakistan. She also has the experience of working as a diplomatic officer in several countries. Barring last-minute political intervention, Lamsal’s appointment is certain. Paudyal, the 24th foreign secretary, is retiring this week and has been proposed as an ambassador candidate to Canada.

 The Public Service Commission will recommend the names of three joint secretaries for the post of foreign secretary on the basis of seniority and merits. Other senior-most joint secretaries are Amrit Rai, Krishna Prasad Dhakal and Dubasu Chhetri. Lamsal is senior-most among them. 

Unlike other ministries, the Foreign Ministry has so far honored the order of seniority when appointing a new foreign secretary. Since 1948, Nepal has had 23 foreign secretaries; none of them were women. The country’s first foreign secretary is Prof Sardar Narendra Mani Acharya Dixit. 

Few weeks ago, I was standing in the mighty Himalayas—on an unforgettable visit to beautiful Nepal enjoying the most wonderful hospitality that I could ever imagine and I’m very grateful to the government and the people of Nepal for their warm welcome and for the opportunity that they provided to me. It is deeply shocking to learn how fast the Himalayan glaciers are melting. And deeply distressing to hear first-hand from local communities about the terrible impact on their lives.  

Nepal, and other vulnerable mountain countries, are being pounded by a crisis that is not of their making. The country has lost close to a third of its ice in just over thirty years—a direct result of the greenhouse [gas] pollution heating our planet. That means swollen lakes and rivers flooding, sweeping away entire communities. It means rising seas threatening communities around the world.  And melting is accelerating. Unless we change course, we will unleash catastrophe: The glaciers could disappear altogether. That means massively reduced flows for major Himalayan rivers like the Indus, the Ganges and Brahmaputra. Deltas decimated by saltwater.  

Low-lying communities wiped out, millions of people forced from their homes, and floods and droughts accelerated around the world. Nepal’s mountains are crying out for help and COP28 must respond. The Global Stocktake must look forward and create the conditions for a surge in global climate action in 2025 and beyond. Critically, we need this COP to deliver in three areas:  First, finance and climate justice.  There can be no climate action without the money to pay for it.  

I am calling for developed countries to clarify the delivery of the $100bn, and to produce a clear plan to double adaptation finance to $40bn a year by 2025—as a first step to devoting half of climate finance to adaptation. But those sums are dwarfed by the scale of what’s needed. So, we need the outcome of this COP to call for reform of the International Financial Institutions so that they reflect today’s world and are far more responsive to the needs of developing countries.  

And for reform of the business models of the Multilateral Development Banks so that they can leverage far more private finance at reasonable cost to developing countries like Nepal. Responding to the climate disaster shouldn’t create a financial disaster. So, we also need the outcome of the COP to support an increase in the proportion of climate finance delivered as grants and concessional finance.  And I am calling for countries to boost support for the Loss and Damage Fund. It was an extremely important decision to move forward with it, but we must allocate  money into it. 

Second, this COP needs to set the world up for emissions to plummet. The door is closing at 1.5 degrees. But a sliver of light remains. This COP outcome must set a clear expectation that countries’ 2025 Nationally Determined Contributions will align with the 1.5-degree limit, cover the whole economy, and be delivered on time.  And it must chart a course for a fair, just, and equitable transition from fossil fuels to renewables. The science is clear: ultimately fossil fuels must go.  

We need a clear commitment to double energy efficiency, and bring clean energy to all, by 2030.   And to phase out fossil fuels on a timeframe compatible with achieving the 1.5 degree goal of the Paris Agreement. Finally, the Global Stocktake must strengthen international cooperation. The goals of the Paris Agreement depend on it.  We need collaboration between the government, and between countries and companies, to drive down emissions, and to protect everyone on earth with an effective early warning system by 2027 and Nepal is an essential candidate to have an effective early warning system. The mountains are issuing a distress call. COP28 must respond with a rescue plan and let’s give our all to making that, that reality emerges from the COP.