FIRST MAGHE JHARI Kathmandu, The first Maghe jhari or rainfall in Magh was recorded in the capital as predicted Friday. It was a light drizzle; no rain was recorded the prevous month in PAush t0o help winter crop plantation like wheat It’s general belief that the rain heralds the onset of spring. Nnnn JAWALAHHEL DEFETED IN FOOTBALL LEAGUE Kathmandu, 18 Jan.:Madhayapur defeated Jawalakhel Friday by a solitary goal in the martyrs memorial A division football league tournament. The goal came in the 58th minute play. Nnnn UNLICENSED FIREARMS Kathmandu, 18 Jan.: The government has so far issued around 35,000 licenses to individuals for keeping firearms for personal use. But the authorities have neither maintained records of such firearms nor have devised any effective mechanism to monitor their use, Kamal Pariyar writes in Republica.;. The government issues firearms license to anyone who fulfills certain conditions. Secretary at the Ministry of Home Affairs Nabin Kumar Ghimire said, “We do not monitor the use of firearms and the police department has been authorized to check misuse of firearms.” However, Deputy Inspector General (DIG) Keshav Adhikari, who is also the spokesperson for the Nepal Police, said there isn´t any specific body to monitor the use of licensed firearms. According to Arms and Ammunitions Act-1963, one has to renew firearms license every year but no office in the country knows if individuals possessing such weapons renew their licenses every year. Moreover, it is surprising that that the government issues firearms license to even those persons who cannot use them. A home ministry official said, ´An individual keeps firearms for personal safety. So, mental and physical fitness should not be the only prerequisite for a license holder. They must also be able to use such firearms.” Even as the use of illegal firearms has proliferated in recent days, the DAO and the home ministry do not have records of such weapons. The District Administration Office of Kathmandu alone renewed 1,500 licenses till mid-January this year. “It is not easy to find out if the license-holder has renewed his license because we do not have a nationwide network to maintain records,” said Chief District Officer (CDO) of Kathmandu Chudamani Sharma. One can renew the firearms licenses from DAOs across the country. According to Surendra Paudel, chief of citizenship and weapons department at the home ministry, said records were lost in many of the districts during the conflict. “However, we have recently begun collecting data of licensed firearms use across the country,” informed Paudel. According to him, only 12 districts -- Syngja, Kaski, Dadeldhura, Doti, Achham, Kailali, Rukum, Makawanpur, Mustang, Panchthar, Baglung and Arghakhachi have submitted the details of licensed firearms in the district as of mid-January. According to sources at the home ministry, more than 24 districts have reported loss of records. “If government assures of compensation, owners of such firearms would readily provide details of the firearms in their possession,” an official said. However the finance ministry said it is not in a position to compensate the owners of firearms due to budget crunch. The ministry of home affairs has maintained records of 34,438 firearms licenses till 2068 Chaitra. Of them, 312 licenses have been issued for pistols, 117 for revolvers, 13, 917 for 12 bore guns, 6491 for 22 bore guns and 1,010 for air guns. A total of 34,379 were registered in the last fiscal year, but no licenses for new pistols and revolvers have been issued citing security reasons. Nnnn EXPECTATIONS FROM NIB NIB trudges on through high expectations and enormous challenges BHOJ RAJ POUDEL KATHMANDU, Jan 17: Expectations are high and challenges are enormous, as Nepal Investment Board (NIB) has found out in the more than a year that it has been working to attract investment in big projects. The NIB, a high level state body founded in late 2011 to facilitate foreign investment for mega projects in the country, is also the focal agency to implement Nepal Investment Year 2012/13, a campaign to lure big investment by creating an investment friendly climate in the country. While announcing the campaign in July 2011, the government had declared that it would bring in US$ 1 billion in the first six months of the investment year. Then in May 2012, the government handed over 14 mega projects - which included 5 hydropower projects -- to the NIB to deal with foreign investors and implement them on a fast-track basis. Despite its efforts, the NIB couldn´t live up to the expectations of injecting fresh investment and ultimately creating new job opportunities. More than a year has gone by since NIB was formed, but not a single mega project has materialized. The template for the Project Development Agreement (PDA) for big projects itself is also yet to be finalized by NIB. The NIB officials, though, say they are doing their best not to break the promises they made. “We are working seriously to kick-start at least one project that is significant for the country´s development,” Radesh Pant, chief executive officer of the NIB, told Republica. Despite the deepening political imbroglio and inconsistent government policies, some foreign investors are still vying to grab investment prospects in Nepal. It is, however, a good sign that investors from countries such as South Korea, France, Germany, Turkey, Brazil, China, India and the USA have shown interest in injecting fresh investment, especially in infrastructure projects like transportation, cement industries, road construction and hydro power. “We have been able to create some interest among potential investors,” said Pant. As an underdeveloped nation, Nepal needs foreign direct investment (FDI) in almost every sector of economy to oil the engine of economic growth. However, Nepal´s current investment climate is not conducive to attracting investment from abroad, or even from domestic sources. The task of providing instant and smooth services to investors is still not that much impressive despite some efforts to facilitate more investment. The decade-long Maoist conflict that badly paralyzed the overall development of the country is over. But the situation is still not rosy for investment prospects. Domestic investors, who are well aware of the economic situation and investment climate of the country, are still not convinced to invest more. "Most of the investors are in ´wait-and-see´ mood," Pashupati Murarka, vice-president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said. The NIB has been carrying out the task of implementing projects such as West Seti (950 megawatts), Arun III (900 MW), Tamakoshi III (650 MW), Upper Karnali (900 MW) and Upper Marsyangdi (600 MW), management and upgradation of Tribhuvan International Airport (TIA) project, Waste Management Project and developing the PDA. The PDA template, which is still to see its finishing touches, is specifically for hydropower projects (above 500 MW). The template -- a base document to negotiate with mega investors -- will prove to be significant for the development of mega hydropower projects in the country. NIB is in consultation with power developers like Indian giants Sutlej Jal Vidyut Nigam and GMR, and SN Power of Norway, seeking their inputs while developing the template. NIB is in close communication with a Chinese firm -- Three Gorges -- to take forward the West Seti project that they are conducting technical and financial assessments for. The country and its prospects are shrouded in political and economic uncertainty, but still the situation can be improved enough to draw new investment. Political stability and policy consistency of the government, local business people say, will create a favorable environment for investment. “There is no doubt that we will see a flood of investment if the government walks the talk and goes beyond rhetoric and lip service for creating investment climate in the country,” added Murarka. ´Political consensus key for investment´ Nepal Investment Board (NIB) came into existence more than a year ago with the job of luring foreign investment for mega projects into the country amid a worsening investment climate. One year down the line, people´s expectations have been dashed as no substantial progress has been made toward securing even a single mega project. Radesh Pant, CEO of NIB since December 2011, talked with Republica about challenges and prospects of new investments in Nepal. Excerpts What initiatives have you taken as the NIB CEO to promote investment in Nepal? Definitely progress has been slow to fulfill the expectations that people had from us. However, we are working on establishing a system and framing policies that are crucial for facilitating foreign investors in our country. The Project Development Agreement (PDA) template that is needed before starting negotiations with developers of mega hydro projects is almost at its final stages. How are investors (both foreign and domestic) responding to our invitation for investment, given the situation of the country? After over a year in office as NIB CEO, I have found impressive response from investors who are showing interest in investing in Nepal if policy consistency and investment security is guaranteed. How do you assess the future for investment in Nepal? Are you satisfied with what has been done so far by NIB? Though there are many things to do to secure investment for mega projects in Nepal, I am satisfied with what has been achieved so far. We are still optimistic about increased flow of investment in the future given the positive responses from those investors that we have so far approached. However, we have to identify which among them are genuine investors to ensure timely implementation of the projects. What do you think we need the most to bring in more foreign investment? Political parties should build consensus among themselves to restore the confidence of investors. I have a long held conviction that there should be agreement amongst political parties to at least create an environment for investment in the projects that are crucial for economic development. There should also be a consistency in the state´s policies towards the economy and investment. Nnnn