Nepal Today

Monday, May 6, 2013

UML’S ISHWOR POKHREL SAYS KARKI APPOINTMENT BEING PUSHED HURRIEDLY Kathmandu, 7 May: UML General Secretary Ishwor Pokhrel told a radio station Tuesday the Lokman Singh Karki affair is only an attempted conspiracy to obstruct the second constituent assembly elections. The conspiracy should be exposed, he said.. His hasty appointment should be stopped. Nnnn UML SECRETARIAT MEET TO FIX CC AGENDA Kathmandu, 7 May: UML secretariat has ben convened Tuesday to set an agenda for Wednesday’s meeting of the party central committee (CC), Spokesman Pradip Geywali said. A political report of Chairman Jhalanath Khanal, elections and the party campaign will also be discussed. nnnn. LIMITED FIVE WEAPONS SURRENDERED IN OKHALDUNGA Kathmandu, 7 May: Nominal number of weapons have been collected in Okhaldhunga, as the two times public notice by the District Administration Office went ineffective, rSS reports from Okhaldunga. Only five load guns have been collected in the district so far, said District Police Office DSP Govind Adhikari. He said two were collected from Khiji Falate Area Police Office and the rest were collected before he came here. We will see to it where the other weapons are, he said. R Nnnn EVEREST SUMMIT ATTEMPT FROM 12 MAY; LAST CAMP ESTABLISHED Kathmandu, 7 May:: A way leading to fourthbase camp of Mount Everest has been made. The opening of the way to camp was delayed due to adverse weather in the past but now it has come into operation, said Dendi Sherpa, communication officer at the camp, RSS reports from Solokhumbu. The fourth camp locates at the altitude of 8,000 meters. Likewise, the way leading to second camp was cleared by Everest Pollution Control Committee and the way up to the fourth camp was cleared by different trekking companies. Sherpa further said that the mountaineer shall climb the Everest since May 12 to May 30 for this session. Now, as many as 500 foreigners and 500 Nepali nationals are in the base camp for climbing the Everest in this session. Nnnn THREE KILLED IN CHITWAN ACCIDENTS Kathmandu, 7 May: At least three persons died in separate road accidents in Chitwan district last night, RSS reports from Chitwan/. Two persons died after a bus (Na 3 Kha 7961) heading for Nepalgunj from Rajbiraj hit a motorcycle (Na 11 Pa 4523) at Khurkhure of Birendranagar, Chitwan. The deceased are Purna Bahadur BK, 47, of Bhandara VDC-2 and Sukaram Chaudhary, 50, of Ward No. 7 of the same VDC, police said. The District Police Office, Chitwan, said that seriously hurt BK and Chaudhary died while receiving treatment at a teaching hospital in Bharatpur. Likewise, motorcyclist Shashi Darai, 30, of Kathar VDC-8 died and next one was injured after a motorcycle collided with a parked tractor at Khairahani-5 in the district. Darai breathed his last when he was rushed to the hospital, Injured Santosh Lama is receiving treatment in Bharatpur. Nnnn TRADE DEFICIT WIDENS Kathmandu, 7 May: Nepal suffered daily trade deficit of Rs 1.42 billion over the first nine months of fiscal year 2012/13, statistics compiled by Trade and Export Promotion Center (TEPC) showsm Republica reports.. Country´s total trade deficit in the first nine months of 2012/13 stood at Rs 385.29 billion, posing a huge challenge before the policy makers to maintain trade balance amid surging imports. Nepal´s total export during the review period increased by a meager 1.1 percent to Rs 56.53 billion compared to figures of the same period in the last fiscal year, while total imports surged by a whopping 21.9 percent to touch Rs 441.82 billion. Share of imports in total trade stood at only 11.3 percent in the review period which means country´s imports is almost eight times higher than the exports. Total trade increased by 19.1 percent to Rs 498.35 billion, while trade deficit shot up by 25.7 percent during the review months. Commenting on Nepal´s disappointing trade figures, economists have suggested that the country focus on increasing agro-based production to contain burgeoning imports as a short-term measure to control soaring trade deficit. Economist Chiranjibi Nepal said increasing production of farm-based products to substitute imports can be a short-term measure to bring down trade deficit. “We can bring down trade deficit in the long run by increasing hydropower generation and reducing imports of petroleum and electrical products including inverters,” said Nepal, who is also the economic advisor at the finance ministry. Like in the past, iron & steel, woolen carpet, yarn, textile, readymade garments (RMGs) and cardamom were the country´s top export in the review period. Similarly, petroleum products, iron & steel, machineries, electronics, vehicles, cereals, fertilizers, cements, cement clinkers, pharmaceutical products and gold were the country´s leading imports. Export of iron & steel increased by 5.4 percent to touch Rs 9.07 billion in the review period. Similarly, yarns became country´s second leading exports even though its export dropped by 10.2 percent to Rs 4.27 billion. Export of textile rose marginally by 5.9 percent to Rs 3.96 billion, while export of woolen carpets and RMGs plunged by 15.6 percent and 18.7 percent, respectively to Rs 3.94 billion and Rs 2.73 billion. Nepal´s total exports earning in the review period is even insufficient to pay import bill of petroleum products. Import of petroleum products - Nepal´s largest import - increased by 29 percent to Rs 80.59 billion during the review period. Similarly, import of iron & steel also shot up by 18.9 percent to touch Rs 43.42 billion, while import of transport vehicles and their parts went up a by whopping 39.8 percent to Rs 25.08 billion. Nepal imported machinery and their parts worth Rs 24.36 billion - a rise of 28.7 percent rise compared to the amount recorded during the same period in the last year. Import of gold rose by 0.5 percent to Rs 18.93 billion, while import of electronics and electrical equipment increased by 14 percent to Rs 18.14 billion during the period. Top five imports • Petroleum Rs 80.59 billion • Iron & steel Rs 43.42 billion • Vehicles & parts Rs 25.08 billion • Machinery & parts Rs 24.36 billion • Gold Rs 18.93 billion Top five exports • Iron & steel Rs 9.07 billion • Yarns Rs 4.27 billion • Textiles Rs 3.96 billion • Carpets Rs 3.94 billion • RMGs Rs 2.73 billion Nnnn WAYS TO EASE ENERGY SHORTAGE DISCUSSED Kathmandu, 7 May: The Nepal Business Forum (NBF), a mechanism created to promote public-private policy dialogue, held its eastern regional business forum (ERBF) meeting in Biratnagar on Sunday, recommending implementation of five issues raised in the forum, Republica reports. ERBF is co-chaired by the regional administrator for the eastern development region on behalf of the government and the president of the Eastern Regional Chamber of Commerce and Industries on behalf of the private sector. Major issues raised in the meeting were allocation of budget for ERBF to operate it effectively in the coming fiscal year, removal of hurdles in the export of agro products, making Nepali and Bangladeshi currency convertible, promotion of agro products by developing market linkages and establishment of company registration desk in eastern region which will ultimately facilitate businesses of the private sector, says a statement issued by NBF. During the meeting, the issue of multi-fuel power plant was also discussed, while the private sector asked the government to develop dedicated line citing the eastern region and the Biratnagar industrial corridor were critical to the overall economic health of Nepal. To maintain the supply of power to this critical area, the meeting discussed the rehabilitation of the multi-fuel plant at Duhabi and building of transmission lines to and from India to ease the current energy crisis, says the statement. The meeting also discussed establishment of Integrated Customs Point in Biratnagar, formation of special economic zones and strengthening of industrial security, the statement further says. With a mandate to cover ´doing business´ issues in 16 eastern Nepal districts, ERBF has been organizing public-private dialogue by bringing in 22 chambers into the regional forum. Nnnn


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