Nepal Today

Monday, March 18, 2013

UM OFFICIAL ARRIVES TUESDAY Kathmandu, 19 March: UN Under- Secretary-General for Political Affairs Geffrey Feltman arrives Tuesday for three days of talks for talks with top leadership in government and parties. Feltman comes after a government to holdd second constituent elections and promulgate a constitution. The world body has welcomed he move with assurance of UN “The UN official’s visit will be an opportunity to express the continued commitment of the United Nations to cooperate closely with Nepal in support of progress in the peace process,” according to the statement. nnnn UML TO OPPOSE OPPOSE LOKMAN SINGH KARKI Kathmandu, 19 March : A dozen of central committee members of the CPN-UML on Monday pressed their party chairman Jhalanath Khanal in writing to oppose the proposed appointment of former chief secretary Lokman Singh Karki as chief commissioner at the Commission for the Investigation of Abuse of Authority (CIAA),. The UML leaders urged Khanal not to accept Karki as CIAA chief commissioner at any cost even if there is pressure from other political parties. "Karki was found guilty by the then Rayamajhi Commission in brutally suppressing demonstrators during April 2006 movement and the CIAA had subsequently suggested to disqualify him from holding any public post in the future," Yogesh Bhattarai told Republica. "We, therefore, pressed our party chief to oppose his appointment as chief commissioner at the CIAA." In a memorandum presented to Khanal, the second-rung leaders argued that the political forces who fought for democratic system and values would feel shame for appointing a person like Karki in a key position of a vital constitutional body. UCPN (Maoist) Chairman Pushpa Kamal Dahal at a meeting of major political parties had reportedly proposed Karki´s name for the post of chief of the anti-corruption body and leaders from Madhes-based parties had seconded the proposal. "Neck-deep in corruption, Maoist leaders and former ministers are afraid of investigation from the CIAA and they want to weaken the anti-corruption body by appointing a weak person there," said Bhattarai. "Leaders from other parties need to understand the Maoist conspiracy and stop Karki from heading the commission." Responding to the party members´ concern, Khanal said he would draw President Ram Baran Yadav´s attention toward the objection and urge leaders from other political parties to find other candidate for the post. The appointment of commissioners comes into effect only after the president endorses the cabinet´s recommendations. Leaders including Ashta Laxmi Sakya, Prakash Jwala, Arun Nepal, Ghanshyam Bhusal, Yogesh Bhattarai, Bijay Paudel, Rajendra Gautam, Jagannath Khatiwada, Satya Narayan Mandal, Baijnath Chaudhary, Jivan Ram Shrestha and Thakur Gaire signed the memorandum and submitted it to the party chairman. "We had to press the party leaders against Karki´s appointment because it is a serious betrayal to those who fought for democracy in 1990 and 2006," Khatiwada said. According to him, it was not only in 2006 that Karki was found guilty in brutally suppressing people´s movement but was suspended from his government job for being involved in corruption back in 1990 as well. "Later, he was reinstated following pressure from the royal palace and other power centers," claimed Khatiwada. Nnnn BFI LENDING UP MORE THAN 12 PERCNENT Kathmandu, 10 March : Lending of banks and financial institutions went up by 12.6 percent over the first seven months of the current fiscal year, as slight reduction in credit rates raised demand for loans, Republica report.. Banks and financial institutions extended Rs 99.31 billion in loans in the seven-month period to February 11, the latest report of Nepal Rastra Bank, the central monetary authority, shows. With the extension of this credit, total loans extended by banks and financial institutions reached Rs 889.78 billion as of February 11, as against Rs 790.47 billion recorded in mid-July. “Lending of banks and financial institutions went up in the period as credit rates fell due to excess liquidity, especially in initial months of the current fiscal year,” said Rajan Singh Bhandari, CEO of Citizens Bank International and president of Nepal Bankers´ Association. But with the tightening of liquidity in recent days, lending rates are again expected to go up, which will reduce demand for loans in the coming days. In the first seven months of 2012/13, production sector absorbed the highest amount of credit, with the figure standing at Rs 23.78 billion, up 15.1 percent from mid-July, the central bank report shows. Wholesale and retail was the second largest sector to soak up credit of banks and financial institutions. The sector received Rs 22.92 billion in loans in the seven-month period, a rise of 14.2 percent than in mid-July. Agriculture sector became the third largest sector to absorb credit in the first seven months of the current fiscal year. It received Rs 8.27 billion in loans from banks and financial institutions in the period -- up 28.7 percent than in mid-July -- of which Rs 6.84 billion went to livestock sector. Lending to agriculture sector has been rising after the central bank last year instructed banks and financial institutions to extend at least 10 percent of total loans to agriculture and hydropower sectors. Among others, service industries like tourism, hotel and education sectors, among others, received Rs 7 billion in loans from banks and financial institutions, while construction sector obtained Rs 6.23 billion in credit in the review period. The central bank report shows banks and financial institutions also extended Rs 5.26 billion in consumable loans in the period, up 15.1 percent than in mid-July, while mining sector received Rs 1.50 billion in loans, a rise of 55.5 percent than in mid-July. Nnnn DEVELOPMENT RESULTS IMPRESSIVE Kathmandu, 19 March: The higher government officials and development partners today lauded the country’s impressive development results, The Himalayan Times reports.. Addressing a special event to commemorate fifty years of development partnership between Nepal and the World Bank Group here today, minister for Foreign Affairs and Home Affairs Madhav Prasad Ghimire highlighted poverty reduction as one of Nepal’s biggest successes. “Nepal has already met the Millennium Development Goals (MDGs) of halving extreme poverty,” he said, adding that Nepalis, beyond income poverty, have widespread access to essential social services. Ghimire also noted Nepal’s remarkable progress in achieving gender parity in primary education However, the country faces two challenges on the poverty front, he added. “We need to ensure that people do not revert back below the poverty line and must challenge ourselves to reduce the poverty rate to single digit during this decade.” The new Interim Three Year Plan will set the stage for pro-poor policies, including trying to secure better outcomes through improved governance, he added. Similarly, World Bank Vice President for South Asia Isabel Guerrero, on the occasion lauded Nepal’s impressive development results in the face of tremendous challenges. “These results set it apart from other post-conflict countries,” she said, citing numerous examples of progress over the past five decades with regard to poverty reduction, expansion of infrastructure and public services, and improvements in human development. “A child born today in Nepal can expect to live 25 years longer than one born in 1970, apart from almost all Nepalis children go to school and live within 30 minutes of their schools,” she said, noting Nepal’s strengths going forward in terms of a young population, a growing private sector, a long tradition of community-led development, and support across the political spectrum for scaling up development. “Nepal’s ability to continue these impressive social developments will depend on achieving greater political stability, supporting private sector by removing existing bottlenecks to investments and investing in infrastructure,” Guerrero added. “It will also require making the governance structures and institutions more effective and accountable.” She also reaffirmed the World Bank Group’s continued support to Nepal’s development in the coming years and said its assistance strategy will continue to align with those of the government and larger community of development partners. Ghimire and Guerrero also jointly inaugurated an exhibition of photographs and videos showcasing Nepal’s key development results over the past five decades. The World Bank Group fielded the first economic mission to Nepal in 1963 to assess the country’s economic development prospects and challenges and approved its first credit in 1969 for a telecommunications project. Nnnn MEDIA GOOGLE “The upcoming so-called election is meaningless. This is nothing except four big forces’ bid to push the nation towards authoritarianism. Therefore our party will not let the election happen.” (Rebel Maoist leader Mohan Baidhaya, The Himalayan Times, 19 March) Nnnn


Post a Comment

Subscribe to Post Comments [Atom]

<< Home