Nepal Today

Tuesday, April 9, 2013

NEPAL SCOUT JAMBOREE IN 26 YEARS Kathmandu, 9 April: The preparations for the Second National Scout Jamboree has reached its final phase, RSS reports from Chitwan. The Scout Jamboree will be organized in Tikauli area near Narayanghat in Chitwan district from Wednesday. As many as 5,500 scout members including 500 foreigners would participate in the six-day long jamboree, according to Nepal Scouts. The organizers have been fixing the tents while the arrangement for electricity, drinking water, telephone, camp-site, and photo exhibition, among others, has already been made. Chief Commissioner of the Nepal Scouts, Shreeram Lamichhane, said though different programmes regarding the jamboree would start from Wednesday, it will be inaugurated by Chairman of the Interim Election Commission (IEC), Khil Raj Regmi, at 9:00 pm on Thursday, said Lamichhane. The participants from Doti, Dailekh, Jhapa, and Bajhang, among other districts have already arrived while some others are arriving. A total of seven camps were built for the scout programme. Three among them will be used for women, three are for men, and another is for foreign guests, said National Secretary of Nepal Scouts, Basudev Bhandari. During the press conference, it was reported that a total of 222 Indians, 32 Finnish, six from Pakistan, 20 from Malaysia, 91 from Bangladesh and one each from Japan, Luxemburg, and USA will be participating in the jamboree. It is learnt that most of the foreign participants had already arrived at the programme venue, he added. The scout members would participate in various events like climbing, hiking, road biking, rafting, fishing, swimming, different life-saving skills, singing, and dancing, among others. An international scouts exhibition and other different programmes would also be organized in the jamboree. The scout was established in 2009 B.S. and the first jamboree was organized in 2043 B.S. at Kirtipur, Kathmandu. The second jamboree is being organized in Chitwan this year after 26 years. Jamboree is an extensive gathering and an important programme of the Scouts Nnnn A WOMAN POLICE KILLED IN VEHICULAR ACCIDENT IN FRONT OF US EMBASSY Kathmandu, 9 April: A police woman died in a road accident in front of American Embassy at Maharajgunj, this [Tuesday] morning, RSS reports.. The deceased has been identified as Chetu Khatri, 29, of Rukum district, currently living at Budhanilkantha. The accident took place when a scooter (Ba 39 Pa 4270) heading towards Teaching Hospital from Narayan Gopal Chowk and a bus ( Ba 1 Ka 4929) coming from opposite direction collided with each other at 9:00 am this morning. Khatri died while undergoing treatment at Tribhuvan University Teaching Hospital at Maharajgunj. Khatri was working at Crime Division of Nepal Police at Hanumandhoka. Sub-Inspector at the Kathmandu Valley Metropolitan Traffic Police Division, Ramesh Kumar Shrestha, said that the bus driver has been arrested and investigation into the case is underway. Shrestha said both the vehicles have been impounded Nnnn ADB FORECASTS 4.2 GDP GROWTH Kathmandu, 9 April : A new report of the Asian Development Bank (ADB) has stressed on promotion and an enabling of business environment and political stability to improve economic performance in Nepal, RSS reports. Kenichi Yokoyama, ADB’s Country Director for Nepal said, “We all agree Nepal has huge potential for growth, but there are also substantial hurdles to overcome in triggering the high growth process.” “Developing infrastructure bases, particularly power, strengthening institutional capacities, and promoting strategic and proactive policies are urgently needed to improve investor confidence in Nepal,” he said. According to the ADB´s flagship, an annual economic publication, Asian Development Outlook 2013 (ADO 2013), released today [Tuesday], ADB projects Nepal’s gross domestic product (GDP) growth to slow to 3.5 per cent in the fiscal year (FY) 2013 due to a shortage of fertilizers, poor monsoon season, low investor confidence and the lack of a full budget, causing funding shortages for ongoing development activities. The prospects of a lower agriculture harvest, wage pressures, further upward adjustment of administered fuel prices, continued power shortages and other supply-side constraints are expected to push inflation to 10.5 per cent in the fiscal year 2013. It read the widening trade deficit and a more moderate remittance growth will likely result in a current account deficit of 0.5 per cent of GDP in FY2013. In the fiscal year 2012, growth rebounded to 4.6 per cent boosted by a favorable monsoon and robust services growth despite a slowdown in the industry sector and political uncertainties. Agricultural output grew by about five percent the highest rate in four years, while the high growth in services reflected a pickup in tourism and remittances-backed consumer spending. Favorable monsoon, adequate fertilizer supplies, the timely adoption of the full budget, and moderate expansion of remittances, ADO 2013 forecasts GDP growth to rebound to 4.2 per cent in the fiscal year 2014. Assuming a good harvest and cautious monetary policies, inflation in the fiscal year 2014 is projected to ease only slightly to nine percent as most of the underlying pressures of the previous year persist. Similarly, ADO 2013 projects current account to slide more slowly to a 1.8 per cent deficit in fiscal year 2014. While the recent regulatory and monitoring directives by the Central Bank to deal with banking sector issues are steps in the right direction to handle the sector’s immediate problems, the report says that much more needs to be done if Nepal is to address structural changes required to shield the banking sector and the economy from internal and external shocks. It includes consolidating the financial institutions, ensuring sound corporate governance, strengthening internal project and loan analysis, more effective monitoring and control, and better understanding and monitoring of the activities of cooperatives. It includes consolidating the financial institutions, ensuring sound corporate governance, strengthening internal project and loan analysis, more effective monitoring and control, and better understanding and monitoring of the activities of cooperatives. The further stated that government expenditures continue to suffer stress from subsidies, including on diesel and liquefied petroleum gas. Prices should be rationalized, while making provisions to protect the welfare to the poor. The report further says that the fiscal year 2014 budget needs timely passage to allow for the revision of tax rates, authorization for domestic borrowing, and provision of funding to accelerate development activities, along with measures to address governance issues. The ADB has been contributing in Asia and Pacific region for inclusive economic growth, environmentally sustainable growth regional integration having its headquarters in Manila, Philippines. Established in 1966, it is owned by 67 members. Of it, 48 are from this region. Nnnn


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