Nepal Today

Friday, April 5, 2013

SSP SHRESTHA SUSPENDED FOR ATTEMPTING TO SMUGGLE OUT CURRENCY NOTES FROM TIA Kathmandu, 6 April: SSP Rabiraj Shrestha was removed from service Friday by home ministry for involvement in smuggling out foreign currency notes from TIA last year. He was caught assisting an Indian in smuggling out currency from TIA. SSP Shrestha won’t be ineligible for future government service, according to a home ministry decision. A policeman who assisted Shrestha has been jailed. Government. nnnn. ELECTIONS BEING HELD IN TU CAMPUSES Kathmandu, 6 April: Elections are being held in 900 campuses. affiliated with the Tribhuvan University (TU) at a date yet to be announced. Students had been demanding elections. A special senate meeting of the university chaired by Government Chief Khil Raj Regmi Friday amended a 1980 regulation on organization and educational administration for the vote for which Nepal Students’ Union (NSU)- a NC student wing—had been holding an indefinite relay strike. Elections will now be conducted to fill positions through a direct vote or on proportional representation basis. Nnnn CAPITAL’S MORNING TEMPERATURE 11 DEGREES CELSIUS Kathmand, 6 April: Capital’s Saturday morning temperature aat seven was 11 degrees Celsius. Mercury is expected to rise to 32 degrees Celsius in the afternoon. Nnnn CHAIRMAN REGMI AGAINST HASTY ELECTION DECLARATION Kathmandu, 6 April: Chairman of Interim Election Council of Ministers Khil Raj Regmi has told the leaders of the four forces that he is in favour of declaring Constituent Assembly poll date once he is sure he will not have to change it, The hImalayan Times writes. . His stance comes at a time when some political parties, including the Unified CPN-M, are criticising the government for its failure to announce a poll date. Unified CPN-Maoist Chairman Pushpa Kamal Dahal, CPN-UML Chairman Jhala Nath Khanal, Nepali Congress leaders Sher Bahadur Deuba and Ramchandra Paudel and United Democratic Madhesi Front leader Raj Kishor Yadav today met the executive head to dwell on poll issues. The executive head told the leaders that he was in favour of declaring a poll date as soon as possible and had directed the Election Commission to accelerate the poll preparation. According to Yadav, Regmi told leaders that it would affect his image if he could not hold elections on a declared date. However, Press Adviser to Regmi, Bimal Gautam, denied that Regmi made any such remark. According to Yadav, Regmi said he would take appropriate decision on the issue of threshold for proportional representation seat as per the feedback of the stakeholders. “Since all the parties are in agreement on citizenship and voters’ list issues, I have directed the agencies concerned to complete these processes promptly,” Yadav quoted Regmi as telling the leaders. The executive head assured the leaders that he would try his best to ensure participation of maximum number of political parties in the elections. Talks offer declined The agitating 33 parties led by CPN-Maoist and MJF-N-led alliance on Friday declined the talks offer of the High-Level Political Committee, claiming that the four parties do not have any right to hold talks with them. They have been repeatedly stating that they do not recognise the ‘so-called four party syndicate’ and would hold talks only with someone who wields authority. They have decided to hold talks only with the President. On the other hand, Chairman of the Federal Socialist Party, Ashok Rai, said his party had not received invitation for talks. “They have invited those who have resorted to destructive ways but not those who have been protesting in a peaceful manner,” he added. A meeting between the HLPC members and the agitating parties’ leaders was slated to take place on the premises of Special Committee (for supervision, integration and rehabilitation of Maoist combatants), but it did not materialise, as agitating leaders did not show up. Nnnn ECONOMIC GROWTH LOWEST IN SIX YEARS Kathmandu, 6 April: : Delayed budget and poor agriculture performance, coupled with slowdown in construction, have squeezed the economic growth to a six-year low of 3.56 per cent at basic price for the fiscal 2012-13, according to primary Estimation, Kuvera Chalise writes in The Himalayan Times.. According to the Central Bureau of Statistics’ projection, besides poor agriculture production, delayed budget has curtailed public spending in key areas like health, education and social sector and failed to create demand, reducing the growth rate. The decline in agriculture growth rate — a key contributor to the gross domestic product — has pulled the overall economic growth rate down to six-year low, the data revealed, adding that agriculture is expected to grow by a mere 1.21 per cent in the current fiscal year against last fiscal year’s 4.94 per cent growth. The low production of key crops like paddy, maize and wheat due to delayed monsoon and lack of fertiliser on time have hit the agriculture output, according to the director general of CBS Uttam Narayan Malla. However, the non-agriculture sector is expected to record a marginal growth compared to last fiscal year. “In the current fiscal, the non-agriculture sector is expected to grow by 4.98 per cent compared to 4.15 per cent in the last fiscal,” he added. Agriculture and non-agriculture growth both have not been satisfactory, said Deputy Director General of the CBS, Suman Aryal. “However, consumption-led imports have pushed the wholesale and retail trade up, which is expected to grow by 9.54 per cent, the highest among all the sectors of the GDP,” he said, adding that the manufacturing sector has, however, performed poorly as always. “Manufacturing sector is expected to grow by a meager 1.85 per cent in the current fiscal year compared to 3.63 per cent a fiscal year ago,” Aryal added. Among the components of the GDP, eight have performed poorly, while remaining seven, including mining and quarrying, construction, wholesale and retail trade, hotels and restaurants, transport, storage and communications, financial intermediation and other community, social and personal services activities are expected to post growth in the current fiscal year compared to last fiscal year. The consumption, on the other hand, has eaten up the national savings. “The national savings is expected to be at 9.34 per cent of the total GDP, which is not encouraging,” Aryal said, adding that the low savings will create resource gap. “The consumption at Rs 1,542.33 billion is projected to be 90.66 per cent of the total GDP.” The CBS has also estimated that the country’s GDP in monetary terms stands at Rs 1,701.19 billion and the economy could witness Rs 642.91 billion capital formations, whereas a total of Rs 484.05 billion is projected as trade deficit of goods and services in the fiscal year 2012-13. Per capita income up A Nepali earns Rs 62,510 at an average per year, according to the CBS estimation for the current fiscal. “The per capita GDP has increased to Rs 62,510 at current price in the current fiscal year 2012-13,” it states, adding that it is a growth of 9.28 per cent from last fiscal year’s Rs 57,202. Per capita GDP is an average income per person per year within the internal sources. However, including the external resources like remittance, the income increases to Rs 80,685, which is an increment of 9.78 per cent on the last fiscal year’s per capita Gross National Disposable Income of Rs 73,497. GNDI is the wealth generated by nationals plus net external income sources from out of the country. nnnn


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