NC Still Divided On Federal Set-up

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'title' => 'NC Still Divided On Federal Set-up',
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	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party&rsquo;s Central Working Committee (CWC) meeting held on August 29 witnessed a debate on whether to adopt the 13-province or the seven-province federal model as proposed by vice-president Ram Chandra Poudel in the political report.</div>
<div>
	&nbsp;</div>
<div>
	A CWC member Mohammad Aftab Alam said that most members from the Madhes and ethnic communities are in favour of the 13-province model while others support the seven-province model.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The political report tabled in the last &lsquo;Mahasamiti Meeting&rsquo; held in Tribani of Nawalparasi on April 8 was endorsed in the CWC meeting after incorporating suggestions from delegates of the meeting as well as CWC members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party, however, has not finalised the model of federalism it is to adopt. The decision would be finalised by a committee led by vice-president Ram Chandra Poudel which was formed during the Mahasamiti Meeting. The Mahasamiti Meeting had delegated the resposibility to the committee to come up with a suitable federal structure after the party&rsquo;s jamboree failed to do so.</div>
<div>
	&nbsp;</div>
<div>
	Unlike the compromise made by the party for a mixed system of governance in the erstwhile Constituent Assembly, the NC in its report has said that it will adopt the parliamentary system this time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NC has said that the party&rsquo;s election manifesto will be drafted based on this report. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the party requested people to donate money for election expenses through its bank accounts. Issuing an appeal, the party has said its bank accounts have been opened in different parts of the country to make the donation transactions open and transparent.</div>',
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			'description' => 'Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.',
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			'content' => '<p>
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">To See the Keywords List</span></strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For listing all SMS Keywords of Nubiz Publications: Type &#39;</strong>nubiznewskeywords<strong>&#39; send it to 2233 to see all the keywords on your mobile.</strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">तपाईको मोबाईलमा नेपाली अक्षर बुझिँदैन ? यस्तो गर्नुस्</a><span style="font-size: small;"><strong><span style="text-decoration: underline;"><a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">&nbsp; </a>(click here)<br />
	<br />
	<br />
	Abhiyan News Keywords</span></strong></span></p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For receiving Abhiyan Front Page Headlines - Type &#39;</strong>abhinews<strong>&#39; send it to 2233<br />
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<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">New Business Age News </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
<p style="text-align: left;">
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<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">The corproate Weekly </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
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	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-02',
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			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'For listing all SMS Keywords of Nubiz Publications: Type 'nubiznewskeywords' send it to 2233 to see all the keywords on your mobile.',
			'sortorder' => '1589',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1727',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="US GDP" src="/userfiles/images/gdp(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />US GDP Accelerates Sharply&nbsp;</span></strong></div>
<div>
	The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program. Gross domestic product grew at a 2.5 percent annual rate, according to revised estimates for the period that were released by the Commerce Department on Thursday. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="China Oil " src="/userfiles/images/coil.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />China Oil Giant Sinopec Buys into Egypt for $3.1 bln</span></strong></div>
<div>
	Chinese oil giant Sinopec will pay $3.1 billion for a one-third stake in the Egyptian oil and gas business of US firm Apache Corp. it said on Friday, as China builds up its access to global energy reserves. The deal, which is still subject to regulatory approval, marks Sinopec&rsquo;s first entry into Egypt&rsquo;s upstream oil and gas sector, according to a company statement.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Gold Drops Below $1,400" src="/userfiles/images/gold(2).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />Gold Drops Below $1,400</span></strong></div>
<div>
	Gold slid below $1,400 an ounce on Friday as the dollar rallied to a four-week high, with investors squaring positions at the end of the month and cashing in on a recent run-up ahead of a long U.S. holiday weekend. Spot gold eased 0.93 percent to $1,394.51 an ounce by after slipping to a session low of $1,392.06 an ounce. U.S. December gold futures lost $18.10 an ounce to $1,394.8 an ounce, down 1.28 percent.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="BRICS Agree" src="/userfiles/images/bricks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />BRICS Agree Capital Structure for Development Bank&nbsp;</span></strong></div>
<div>
	The BRICS bloc of large emerging economies have agreed on the capital structure for a proposed development bank that aims to reduce their reliance on Western financial institutions, a newspaper reported. Officials from Brazil, China, India, Russia and South Africa agreed to set up the bank with a total capital of $50 billion, shared equally among them, it quoted an unnamed senior Indian government official as saying. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Samsung" src="/userfiles/images/samsung(5).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 66px; width: 100px;" />Samsung Emerges as the Top supply chain Company in Asia Pacific</span></strong></div>
<div>
	Korean electronics major Samsung has been ranked at the top in IT research firm Gartner&rsquo;s list of 25 major performing supply chain organisations in Asia Pacific region. &nbsp;Chinese PC and mobile devices maker Lenovo bagged the second position, backed by impressive revenue growth and inventory turns, Gartner said.&nbsp;</div>',
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			'description' => 'The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.',
			'sortorder' => '1588',
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		'Article' => array(
			'id' => '1726',
			'article_category_id' => '138',
			'title' => 'Study Reveals Large, Untapped Potential For Water And Sanitation Services For The World’s Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="" src="/userfiles/images/ifc(2).jpg" style="width: 500px; height: 79px;" /></div>
<div>
	&nbsp;</div>
<div>
	Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector. &nbsp;A new report released by the World Bank&rsquo;s Water and Sanitation Program (WSP) and the International Finance Corporation (IFC) on August 29 finds that this will not only improve their livelihoods but is also an enormous market potential which waits to be tapped. &quot;Today, 2.5 billion people lack access to sanitation and at least 780 million people lack access to safe drinking water. &nbsp;Global estimates of economic losses from the lack of access to water and sanitation are estimated at US$260 billion every year,&quot; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The public sector alone cannot meet this massive challenge; if we want to end extreme poverty by 2030 and boost shared prosperity for the bottom 40%, we will have to scale up water and sanitation access,&rdquo; said WSP Manager Jae So. &nbsp;&ldquo;And to do that, both the public and private sector will need to work together.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the most striking findings of Tapping the Markets: Opportunities for Domestic Investments in Water and Sanitation for the Poor, is the enormous market potential. Focusing only on Bangladesh, Benin, and Cambodia, about 20 million people are projected to obtain their water from rural piped water schemes by 2025. That is 10 times the current number, a market worth at least US$90 million a year. On the sanitation side, there is a potential US$700 million Bottom of the Pyramid market in Bangladesh, Indonesia, Peru, and Tanzania. &nbsp;The current total market for improved on-site sanitation services in these four countries is estimated to be worth US$2.6 billion.</div>
<div>
	&nbsp;</div>
<div>
	The results of the study offer new solutions to prevent the thousands of daily child deaths and hundreds of billions of dollars in annual economic losses caused by lack of access to water and toilets. &nbsp;It takes a hard look at the challenges faced in tapping the business opportunities in developing countries by private firms willing to make the commitment to reaching the poorest people.</div>',
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			'description' => 'Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector.',
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		'Article' => array(
			'id' => '1725',
			'article_category_id' => '137',
			'title' => 'India Outpaces Japan To Become World’s 3rd Largest Internet User',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India surpassed Japan to become the world&rsquo;s third-largest Internet user, based on the size of its online population, behind only the U.S. and China. The growth highlights the potential of India&rsquo;s fast-growing e-commerce market, according to a report from global digital measurement and analytics firm ComScore.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Riding on a 31 per cent year-on-year increase, India&rsquo;s online population grew to 73.9 million. With an extended online universe in excess of 145 million the market is at a tipping point for online businesses. India is the world&rsquo;s third largest Internet population,&rdquo; the report said.The country overtook Japan by adding 17.6 million users in 2012, the ComScore report said.Of the total 644 million home and work Internet users in Asia-Pacific as of March 2013, China accounted for a lion&rsquo;s share of 54 per cent followed by India (11.5 per cent), Japan (11.4 per cent), Southeast Asia (9.6 per cent) and rest of APAC (13.5 per cent).On consumption, ComScore said that media fragmentation is occurring at light speed in today&rsquo;s multi-platform environment, which features not only computers, but smartphones, tablets, gaming platforms and a ever-increasing number of emerging devices.</div>
<div>
	&nbsp;</div>
<div>
	According to the study, India has the youngest skewing online population among BRIC countries, with 75 percent of its Internet users under the age of 35. &ldquo;Although the U.S. held 66 percent of the total global Internet audience in 1996, it now accounts for just 13 percent of the global online users, while the Asia-Pacific region accounted for 41 percent and Europe accounted for 27 percent of the global Internet users in 2012,&rdquo; the report states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, U.S. users spent the most time on the Internet with North Americans spending 37.2 hours, while users from Asia-Pacific spent just 17.2 hours, on an average, in a month. India&rsquo;s strong growth in its Internet audience -- at six times the global average growth rate &ndash; holds enormous opportunity for the country&rsquo;s e-marketers, which helps the country&rsquo;s e-commerce sector, which is estimated to reach $100 billion in size by 2015, according to estimates.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;While 60 percent of Web users in India visit online retail sites, time spent on shopping sites still has huge growth potential,&rdquo; the report said. India&rsquo;s online retail market grew more than 60 percent in 2012-2013, with the apparels market growing by 21 percent, ComScore said. Indian Internet users spent 25 percent of their online time in social networking websites, with 86 percent of the total audience visiting such sites in the last fiscal year. Facebook dominates the segment with 59.6 million user-visits and a 28 percent increase in the traffic. Entertainment and online video segments also witnessed exponential growth with 54 million users, in 2012-13. &ldquo;The online video audience in India grew an astounding 27 percent in the past year, and YouTube continues to be the top video property with more than 55 percent share,&rdquo; according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h5>
		&lsquo;Mobile internet fueling internet population growth in Nepal&rsquo;</h5>
	<div>
		In line with the global surge, Nepal is also witnessing a staggering growth of internet population. According to a report published by Nepal Telecom Authority (NTA) in July, over 25 per cent of Nepali citizens have access to internet connection. &ldquo;As of mid-July (last fiscal year), Nepal&rsquo;s internet penetration rate reached 26.10 per cent of the total population against the rate of 19 per cent in the same period of last year,&rdquo; the report states.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		The report informed that the total number of internet users has reached 6.91 million.&nbsp;</div>
	<div>
		The robust use of internet is fueled by mobile internet, sub-broadband and high speed services such as WiMax. However, the high speed 3G wireless mobile network is seen as the main driving factor of internet population growth in Nepal. &ldquo;Out of total subscribers, 6 million users surf the world wide web through their mobile devices,&rdquo; reads the NTA report. The sharp rise in the availability of low-cost smartphone handsets and competitive bandwidth prices are seen as factors attracting internet users. Furthermore, the appeal of social media is also considered as another major element which contributes to the rise of internet users. In July, commercial web traffic data provider Alexa Internet Inc, a subsidiary of Amazon.com, ranked Facebook as the most popular website among Nepali internet users. The company also ranked Twitter and Linkedin in 12th and 13th place in Nepal respectively.</div>
	<div>
		&nbsp;</div>
</div>
<p>
	&nbsp;</p>',
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			'created' => '2013-09-02',
			'modified' => '2013-09-10',
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			'description' => 'India surpassed Japan to become the world’s third-largest Internet user, based on the size of its online population, behind only the U.S. and China.',
			'sortorder' => '1586',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1724',
			'article_category_id' => '135',
			'title' => 'Auto Oil Pricing Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The hostility of the oil price hyping continues to threaten the economic social development rights of the people. This tends to effect more to the 80 per cent of the working class, middle class, and the people living below the threshold level least effecting the 20 per cent of the elite who continue to consume almost 60 per cent&nbsp;</span><span style="font-size: 14px;">of the national &nbsp;income. This augmentation on oil price is not only effecting the oil consumer but has even devastating effect on the poor when the price of all other basic necessities hype to a greater level but there is no shift in the income level of the 80 per cent even if there is least possibility.</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Saroj Pandey, Former president, Nepal Petroleum Dealers’ Association (NPDA)" src="/userfiles/images/dsp.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 229px;" />Saroj Pandey</span></strong></div>
<div>
	<span style="font-size:14px;"><em>Former president, Nepal Petroleum Dealers&rsquo; Association (NPDA)</em></span></div>
<div>
	&nbsp;</div>
<div>
	One of the major reasons behind the oil pricing mechanism is the oil politics, the bigger picture lies behind the veil that is reluctance of both political parties and the National Oil Corporation (NOC). The NOC being one of the biggest pitch for corruption, this extreme incompetence of the two sides is leading the country towards black hole of economic detriment. The reluctance can be seen, after facing so many oil crisis and dispute. The NOC has not been able to set any petroleum regulatory mechanism nor does the government have it been able to bring any sort of law and act regarding petroleum distribution and regulation. This incompetence of the government and the NOC is leading frustration among the people and also among private investors. This mismanagement of corporation and constant oppression to the people will have to come to an end. &nbsp;If they cannot run the country and the corporation they will have to raise their hands to surrender the oil pricing mechanism to the market forces. There I suggest the Government to wash their hands off the dirty politics and the private investor to maintain their ethics and give justice to this crisis.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deepak Subedi,Spokesperson, Ministry of Commerce and Supplies " src="/userfiles/images/ds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 232px;" />Deepak Subedi</span></strong></div>
<div>
	<em><span style="font-size:14px;">Spokesperson, Ministry&nbsp;</span><span style="font-size: 14px;">of Commerce and Supplies&nbsp;</span></em></div>
<div>
	&nbsp;</div>
<div>
	The budget has clearly decided to take on the auto pricing mechanism and the government is slowly moving toward the required policy formation to adopt the system, it is a gradual process because if the prices are abruptly left on the auto mechanism there would be rapid growth of inflation which could make the situation even more chaotic. Looking at the past, the previous governments had constantly tried to raise the price of the oil, which led to protest. Then the government was forced to revoke those decisions immediately. But this government &nbsp; seems committed and is looking for a long term solution .Because of the over hiking debts this government has decided cut subsides.</div>',
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			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The hostility of the oil price hyping continues to threaten the economic social development rights of the people.',
			'sortorder' => '1585',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1723',
			'article_category_id' => '134',
			'title' => '‘Comprehensive Strategy Needed For Hydropower Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Yasing Zhang,Senior Vice President of Sinohydro Resources Ltd, " src="/userfiles/images/yz.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 184px;" />Yasing Zhang</strong> is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. In a tete-e-tete with <strong>Sanjeev Sharma</strong> of The Corporate, he expresses his plan to tap hydropower potential in Nepal.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Power Summit&nbsp;</span></strong></div>
<div>
	I think, the Power Summit 2013 organised by the Independent Power Producers Association of Nepal (IPPAN) has provided a platform for investors, policy makers and stakeholders to freely express their views and to discuss various topics regarding the hydropower sector. I believe that the discussions helped iron out major hassles prevailing in the sector. In this regard, the Power Summit 2013 has successfully achieved its goal to hasten the pace of hydropower development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">FDI in the Hydropower</span></strong></div>
<div>
	As an investor, we feel that there is an absence of preferential and privilege policies to attract foreign investment in Nepali hydropower projects. There are no incentives in terms of taxes for foreign investors. The tax burden created from provisions of contract tax and value added tax (VAT) is putting pressure on the developers. The absence of proper insurance policies pertaining to hydropower has also been hindering foreign investment. Investments in projects are always at risk in case of natural disaster or big technical failures if there are no proper insurance policies in place.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;It is necessary to formulate investment-friendly policies to attract Foreign Direct Investment (FDI). Thus, policy makers should harmonise existing laws.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems for Investors</span></strong></div>
<div>
	Nepal has tremendous hydropower potential. But the country has yet to tap its potential due to several problems mostly linked to project licensing, technical issues as well as legal hurdles. I think the Nepal government should be ready to relax existing hassles on agreement and licensing to ensure timely service delivery. In Nepal, there is no procedure in accordance with international standards to issue Project Development Agreements (PDA), which slows the pace of project development and adversely affects the sentiment of developers. The initial survey licenses of various major projects are held by domestic/foreign developers for several years or even decades. Similarly, there are also issues regarding Power Purchase Agreements (PPA). The fluctuation in foreign exchange rate makes things difficult for power developers as they are more likely to face loss in selling the electricity they generate. These issues should be addressed first hand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are several infrastructure-related constraints. Poor roads, lack of transmission lines, difficulties in conducting projects in remote areas and insufficient supply of construction materials and equipments are other problems in developing a project here. &nbsp;Likewise, awarding a single river basin to many contractors is also adding complications. Some social and political influences such as frequent protests and strikes against particular projects and inadequacy of local skilled staffs are other contributing factors.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Solutions to the Existing Hassles</span></strong></div>
<div>
	Effective policies are needed to solve all aforementioned problems. Developing common standards and procedures concerning hydropower investment will also have positive impact. A common standard and procedures should address issues regarding contract and licenses, company registration, bank account opening and control of foreign currency. Issues regarding the holding of initial license can be solved by cooperation with or transferring from the initial license holder. As far as PDA and PPA are concerned, the government should follow procedures in line with international standards.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is an exigency in preferential policy provision on hydropower investments. This includes duty exemption and tax reduction on raw materials, construction equipments, vehicles, and the income of power developers. Convenience on custom clearance and flexibility in work visa will also boost the morale of foreign investors. There are several issues regarding land acquisition by the projects. This issue could be solved by issuing instructive principles of land acquisition. Establishing a general administration on land acquisition and transfer capable of providing guiding land price in different regions and project areas will be the first right step. Secondly, simplifying the land acquisition and transfer procedure is also necessary.</div>
<div>
	&nbsp;</div>
<div>
	One-stop service of hydropower development can deliver effective solutions. For that, the government should set-up a stable and comprehensive agency responsible for hydropower administration in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Water Resource Management&nbsp;</span></strong></div>
<div>
	Hydropower development is directly linked to water resource management. If properly managed, the water resource of a single project can be used for various purposes. For this, Nepal needs to identify pilot projects. Those projects should be fairly large enough in terms of power generation. This will help focus efforts in hydropower development. Apart from electricity generation, such projects may also provide water for irrigation and drinking.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Sinohydro&rsquo;s Plan&nbsp;</span></strong></div>
<div>
	Sinohydro Resources Limited is the overseas investment window of Power Construction Corporation of China (Power China). We have been in overseas investment business since 2004 with a registered capital of USD 400 million. We entered the Nepali market in 1995 and successfully accomplished six major hydropower, irrigation and infrastructure projects since then. The Ilam Hydroelectric Project, Modi Hydroelectric Project, Sikta Irrigation Project Phase 1, Sunsari-Morang Irrigation Project, and Bagmati Irrigation Project were handed over to the Nepal government after completion. Similarly, we upgraded the Tansen-Tamghas road project. Currently, Sinohydro is engaged in civil works of Kulekhani 3 and Upper Tamakoshi. Likewise, the 50MW Upper Marsyangdi &lsquo;A&rsquo; hydropower project is being developed with our investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Nepal should Take Advantages</span></strong></div>
<div>
	Nowadays, trading of surplus power is becoming a lucrative trade in the world. Nepal can earn substantial amount of money from such trading. I suggest the government and concerned authorities to formulate a master plan of power consumption. The plan should assess domestic requirements and power for export. Similarly, the establishment of a nationwide transmission network is also necessary for electricity export.&nbsp;</div>',
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			'description' => 'Yasing Zhang is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. I',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1722',
			'article_category_id' => '152',
			'title' => 'Focus Briefs (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">Banks and Promoters at Loggerheads over Property Evaluation: Governor</span></strong></div>
<div>
	Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other. While addressing the Power Summit, Khatiwada said, &ldquo;The banks say that the promoters tend to inflate the equity amount of the projects, while the promoters blame the banks for under evaluating the asset while financing their projects.&rdquo; Shedding light on the risk aversion issue in the hydropower sector investment, he advised both the parties to build confidence rather blaming each other for the problem. The central bank governor also opined that the project developers should include the risk of exchange rates in the project analysis and financial appraisal instead of seeking risk guarantee from the government on foreign investment.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Strike at Upper Madi Hydropower Project</span></strong></div>
<div>
	Nearly 90 Nepali workers went on a strike at Upper Madi-hydropower at Sildujure in Kaski after their demand for pay as per the international labour organizations went on deaf ears. Most of the protesters include drivers, operators, labourers, and welders. Vice-chairperson of Workers&rsquo; Committee&rsquo;s Guna Prasad Baral said, &ldquo;We were forced to take this decision after the contractor did not pay any heed to their twenty-point demand that we put forth.&rdquo; Their demands include reduction of duty hours, over-time allowance, Dashain bonus and work place security, among others. Later a meeting between the agitating parties and the management committee was held but it ended inconclusively. &ldquo;There is no work environment at the construction site. No allowance or other facilities are provided to drivers. We have to wear the same pair of shoes, that don&rsquo;t last even for 15 days, for more than six months and we don&rsquo;t even have a toilet,&rdquo; Baral said. Meanwhile, Pas Bahadur Bastola, undersecretary of stakeholder&rsquo;s committee expressed solidarity with the workers&rsquo; agitation. As many as 100 Chinese nationals are working in the project. The hydro project, with a capacity of 25 MW, was initiated with the joint investment of Chinese Three Georges and Nepal&rsquo;s private sector. It had started on December 29 in 2012 with completion time of 28 months. The estimated cost of the project is Rs 5.28 billion and it was supposed to be completed by April 2015.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Exploring Possibilities in Hydro Sector</span></strong></div>
<div>
	The politicians participating in the power summit 2013 threw support for &ldquo;integration of power markets&rdquo; of Nepal, China and India &ldquo;for the benefit of everyone in the region&rdquo;. Although Nepal is said to have a potential of producing 83,000MW of hydroelectricity from its rivers, the country so far has been able to tap less than 800MW of that. As a result, hours-long power outage has become a norm in the country, which is affecting production at various industries and hindering country&rsquo;s economic development. &ldquo;Water resources need to be exploited to achieve higher growth rates. If we cannot do this the country&rsquo;s dream of graduating to the grouping of developing nations, will only remains a pipe dream,&rdquo; said Radhesh Pant, CEO of the Investment Board, which oversees implementation hydro projects of over 500MW, among others.</div>',
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			'description' => 'Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other.',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
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			'id' => '1720',
			'article_category_id' => '160',
			'title' => 'Corptoon Vol 3 Issue 29',
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			'content' => '',
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			'created' => '2013-09-01',
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			'description' => 'Corptoon',
			'sortorder' => '1581',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1719',
			'article_category_id' => '91',
			'title' => '157.8 Million Shares Listed In NEPSE',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Securities Board of Nepal (SEBON) has provided all kinds of share issuance permits up to Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO shares up to Rs 3.51 billion to 23 companies, right shares up to Rs 3.94 billion to 5 companies, bonus shares up to Rs 4.60 billion to 52 companies and bond issuance up to Rs 3.15 billion to 7 companies. There is a possibility of these shares being listed in NEPSE for transaction in the current fiscal year which ensures the expansion of share markets in comparison to the previous fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Market Size Increased by 40pc</strong></div>
<div>
	Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-2013. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011-2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-2013. &nbsp;According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies, share and investors within this year. He also said the operation of essential infrastructures of share market like CDS &amp; Clearing and mutual funds also helped to increase the market size. Poudyal added, &ldquo;The investors are also increasing lately with the continuity of share market activities.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Transaction Rate Doubled</strong></div>
<div>
	The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-2012. The share transaction was of Rs 10.27 billion in FY 2011-2012 which has reached up to Rs 22.4 billion in FY 2012-2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Listed Companies Reached 230</strong></div>
<div>
	The number of listed companies in the previous fiscal year has reached 230. Among the listed companies, there are 198 bank and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 commercial organisations, 4 hydro power companies and 2 other groups. &nbsp;There were 216 listed companies in FY 2011-2012.&nbsp;</div>',
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			'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE.',
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		'Article' => array(
			'id' => '1718',
			'article_category_id' => '91',
			'title' => 'Devaluating Rupee Costs Industries Dearly',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though Nepal Oil Corporation (NOC) has not hiked the price of petroleum products due to the sharp fall of the Rupee, NOC cannot withhold the loss incurred in petroleum products for a long time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Nepali Rupee plunged as low as Rs 108 last week against a unit price of the US Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Industrialists lament that they will have to suffer badly due to the price hike of petroleum products resulting from the free-fall of local currency against the Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Pashupati Murarka, vice-president of Federation of Nepal Chambers of Commerce and Industry, says that the government will be left with only two choices. According to him, the government either has to provide more subsidies to NOC to keep the price of petroleum products unchanged, or it has to adjust the price of petroleum products. &nbsp;&ldquo;Either way, it would take a toll in Nepal&rsquo;s crippling economy, particularly industries,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Currently, NOC is reeling under a heavy loss. According to the NOC officials, the corporation incurred a loss of Rs 1.62 billion last month. While unveiling the budget for FY 2013-14, the government said it would adopt the auto price mechanism to adjust the price of petroleum products with the international market.</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s industries are now relying heavily on diesel to meet energy demands due to extreme daily power outage. At present, the demand and supply gap hovers around 300MW, with a demand of 900MW demand against a 450MW supply.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The price hike in petroleum products following the depreciation of the Nepali Rupee, pegged with the Indian currency, would have an adverse impact on the cost of manufacturing products. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Murarka estimated that Re 1 increase in diesel per litre would raise the cost of electricity of the industry by 0.30 paisa per unit. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if the government comes up with subsidies to save the NOC from a heavy loss, short supply will create problems for factories that are already battered with regular power cuts,&rdquo; says Murarka, warning that such short supply could also lead to black marketing of petroleum products.</div>
<div>
	&nbsp;</div>
<div>
	The import of petroleum products only accounted for Rs 107 billion out of total import bill of Rs 257.66 billion for 10 commodities from India in FY 2012-13. In FY 2011-12, the petroleum import bill was at Rs 92.25 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Ministry of Finance Chief Advisor Dr Chiranjibi Nepal, the country&rsquo;s total export amount is not even adequate to foot the bill of petroleum alone.</div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<ul>
						<li>
							<strong>Devaluation of the Rupee will hike petroleum price</strong></li>
						<li>
							<strong>Price hike in petroleum will have adverse impact on manufacturing costs</strong></li>
						<li>
							<strong>Govt subsidies not likely to alleviate inflation&nbsp;</strong></li>
						<li>
							<strong>Industrial sector is now relying heavily on diesel for power generation</strong></li>
					</ul>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.',
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			'title' => 'Secure Investment Should Be Guaranteed For Funding',
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			'content' => '<div>
	<img alt="Debate of Month" src="/userfiles/images/debate.jpg" style="width: 500px; height: 376px;" /></div>
<div>
	<strong>--By Sweta Sharma&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">There are multiple factors that have limited our economy&rsquo;s growth in the past few years, the most important being poor investment in mega projects that provide &ldquo;Big Push&rdquo; for development. Frequent changes in the government&rsquo;s plan and policies hamper the flow of investment in the country. As a result, Nepal does not to attract enough foreign investors. What can be done? Here are views from some experts :</span></div>
<div>
	&nbsp;</div>
<div>
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									<img alt="Subarna Das Shrestha ,President Independent Power Producers’ Association, Nepal (IPPAN)" src="/userfiles/images/sds(1).jpg" style="width: 175px; height: 192px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Subarna Das Shrestha</strong></div>
									<div>
										<em>President</em></div>
									<div>
										<em>Independent Power Producers&rsquo;</em></div>
									<div>
										<em>Association, Nepal (IPPAN)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Mega projects are big projects that need huge investments for operation. Investors require a stable policy but the Nepali government is not able to form strong policies for mega projects. Before investing in a mega project, investors would compare the benefits from investing in Nepal or in other countries. The frequent change in government policy in Nepal had affected the terms and conditions of issuing a license. since the license for a mega project, such as in hydropower is a long period, such as for 35 years, want security of their investment for equally long period.&nbsp;</div>
					<div>
						<div>
							&nbsp;</div>
						<div>
							Private sector investment could be of great help in funding mega projects. But this year, the budget only focused on public projects. This gives reason to worry. As for funding from banks, the main issue would be loan financing. Banks provides 70-80 percent of the project cost as loan and they want loan protection. The government, on the other hand, seems to be very slow in the development of mega projects.&nbsp;</div>
						<div>
							A proper land acquisition policy should be implemented for smooth implementation of mega projects. The Foreign Investment and Technology Transfer Act is also not investor-friendly. Thus, the Project Development Agreement (PDA) that the developer has to sign with the goverment should be bankable and internationally accepted. PDA could be the overall solution for funding mega projects in Nepal either for domestic investment or foreign investment. Recently, IPPAN proposed a PDA to the government on 7th July, 2013 and government seems positive regarding it.</div>
					</div>
					<div>
						&nbsp;</div>
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									<img alt="Gyanendra Lal Pradhan Chairperson Energy Committee of FNCCI" src="/userfiles/images/glp.jpg" style="width: 200px; height: 209px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gyanendra Lal Pradhan</strong></div>
									<div>
										<em>Chairperson</em></div>
									<div>
										<em>Energy Committee of FNCCI</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Nepal does not have the capacity to run mega projects. Environment for investment is not quite favorable and it is difficult to attract investors. The main problem is, there is an internal conflict in both the government and the private sector. The policies are not clear about funding mega projects from different sources. Time and again policies get changed with the change in government. This has definitely made it difficult to attract foreign investors. Nepal&rsquo;s government still lacks willingness to provide safety to investment. The bank alone is not able to fund mega projects as it needs huge investment and on top of that Central Bank has increased the paid up capital requirment for banks. In this situation, we cannot expect from banks to contribute in mega projects. Though the budget for fiscal year 2013/14 said it has given emphasis on energy sector, it still is not reasonable. Government has yet failed to meet the expectations of energy sector to bring special programmes. The country needs some concrete programmes when it is going through such severe energy crisis. In this situation, government should be able to involve private sector to fund mega projects considering their demands and suggestions.</div>
					<div>
						&nbsp;</div>
				</td>
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		</tbody>
	</table>
</div>
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	<table border="0" cellpadding="10" width="99%">
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									<img alt="Madhu Bhetuwal Department of Electricity Development Senior Divisional Engineer (SDE)" src="/userfiles/images/mb.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Madhu Bhetuwal</strong></div>
									<div>
										<em>Department of Electricity</em></div>
									<div>
										<em>Development</em></div>
									<div>
										<em>Senior Divisional Engineer (SDE)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						The main hurdle to fund mega projects and hydro projects is political instability. Nepal is experiencing the political chaos since long. Instability in politics have led to hurdles in forming concrete policies. As long as Nepal does not have firmed policies regarding investments, investors will never be interested in any mega projects. Talking about Nepal&rsquo;s experience regarding policies, it is yet not consistent. In this context, government should be able to bring long term plans and programmes to maintain the consistency in mega projects operation. Next issue is that of income tax. It is not clear what income tax rate will be after 2015. It is natural that general public are not inclined to invest in mega projects as there is no mechanism to secure the investments. So, it is must to establish a safer mechanism to attract funds from general public. There exists the confusion about who is to supervise the hydro projects by Ministry of Energy or Investment Board. Thus, this confusion too should be cleared. Similarly, talking about the hydro projects, there is difference in royalty of Electricity Policy and Electricity Act. The Act has a provision for lower royalty whereas the policy has a provision for higher royalty. This too has created problem in investment which needs to be cleared soon. The projects should be supervised by one body so that there won&rsquo;t be any problems in running any mega project.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
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				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
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								<td>
									<img alt="Radhesh Pant CEO Nepal Investment Board" src="/userfiles/images/rp.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Radhesh Pant</strong></div>
									<div>
										<em>CEO</em></div>
									<div>
										<em>Nepal Investment Board</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<div>
							Present legal hurdles for funding of mega projects in Nepal in terms of getting funds from banks, non-banking organization, foreign investors and general public are:&nbsp;</div>
						<div>
							&bull; Non-recourse financing is difficult to obtain because BAFIA requires&nbsp;</div>
						<div>
							collateral / security for any lending by financial institutions (Banks, Finance companies, Insurance);&nbsp;</div>
						<div>
							&bull; Inability of current Financial Institutions to raise funds outside of&nbsp;</div>
						<div>
							retail deposits;&nbsp;</div>
						<div>
							&bull; Single Obligor Limits (SOL) and Sectorial limits mandated by NRB regulations;&nbsp;</div>
						<div>
							&bull; Not necessary a legal hurdle, but there is a lack of depth in Nepal&rsquo;s financial instruments and products with an active secondary market for such instruments.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							In my opinion, these legal hurdles can be removed by adopting the following measures:&nbsp;</div>
						<div>
							&bull; Create a new class of financial institutions that would be allowed to lend on a non-recourse basis with new set of guidelines on SOL and sectoral limits;&nbsp;</div>
						<div>
							&bull; Regulations to create and foster confidence in active secondary markets for fixed income securities and other financial instruments to finance large infrastructure projects</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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	<img alt="Tourism Nepal" src="/userfiles/images/tourism.jpg" style="width: 500px; height: 257px;" /></div>
<div>
	&nbsp;</div>
<div>
	Tourism flourishes in tranquility. It fructifies in those situations where tourists&rsquo; movement is not constricted by any internal or external factors. Thus, political instability is proved to be the biggest hindrance for the smooth operation of tourism industry in Nepal. But Nepal is gradually emerging from the situation of political instability and uncertainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The tourism industry of Nepal has not yet tapped to the possible opportunities as Nepal&rsquo;s nature-based tourism can offer a lot to visitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal witnessed the positive sign by the total tourist arrivals in 2012 figuring 598,204 which is 53,219 more visitors compared to 2011. The year 2012 has concluded with positive notes both in terms of total visitor arrivals for the month of December and also for the whole year, according to Nepal Tourism Board (NTB).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to statistics of Nepal Tourism Board (NTB), a total of 598,204 foreign tourists entered the country via aerial route in 2012. Nepal welcomed around 161,000 European tourists in 2012, according to the statistics. The statistics shows total arrivals from Asia, other than South Asia, grew by 15.1 percent during in 2012. The statistics of 2012 also show that 12.97% tourists visited Nepal for the purpose of trekking. Similarly, 3.85% visited for official purpose, 3.11% for business, 12.76% for religion, 4.09 for leisure, 0.62% for mountaineering, 1.71% for conventions and exhibition, 0.21% for rafting, 4.3% for travel, 2.36% for research and 3.69% for other purposes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Tourist Inflow Nepal" src="/userfiles/images/tourist%20inflow.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 153px;" />The statistics show glimpses of possibilities for a bright future of tourism.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent between 2011 and 2012. A total of 7, 36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent in 2012.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotels in Nepal" src="/userfiles/images/no%20of%20hotels.jpg" style="width: 238px; height: 185px;" />&nbsp;&nbsp;<img alt="Trek Route in Nepal" src="/userfiles/images/major%20trek%20routre.jpg" style="width: 298px; height: 185px;" /></div>',
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				<img alt="Nyin Valley of Humla" src="/userfiles/images/NYIN%20VALLEY.jpg" style="width: 500px; height: 329px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Nyin Valley of Humla</td>
		</tr>
	</tbody>
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<p>
	<strong>--By Raju Baskota &amp; Bijay Raj Khanal</strong></p>
<div>
	&nbsp;</div>
<div>
	Humla is slowly increasing its interest towards tourism. This district doesn&rsquo;t even have access to roadways because of its remote geographical condition. Some of the villages of Humla including Simikot are benefited from tourism as they are the entrance to Mansarobar in Tibet. With the aim of developing tourism in the district, recently a new tourist destination Nyin Valley has been introduced. This new trekking route covers north-eastern area from Simikot providing various tourist destinations to the tourists. The masterplan of the project has already been prepared with the help of SNV and the promotional activities are being done rapidly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Department for International Development (DFID) has provided grant for the promotion of this Valley as branch trekking route of The Great Himalaya Trail (GHT). GHT has been identifying and promoting such trekking routes with the coordination of Ministry for Tourism, District Development Committee and Tourism Development Committee of related districts. The programmes conducted by GHT in various 16 districts have been promoting local tourism. Along with main trekking route, it also has been promoting new trekking routes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhavana Adhikari, Communications and Outreach Advisor at GHT said that they have been conducting five day tour package including remote VDCs of the district to promote the district as a whole. GHT has promoted the route from Simikot to Buraunse, Torpa, Nimatang, Ralingumba, Bargaun, Thehe and Khurpanath. As a part of promotion, first home stay in the district also has been started at Buraunse. Micro-entrepreneurship also is provided at all the places from where the trekking route passes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Jung Bahadur Lama, Marketing and Sales Director of Firante Treks and Expedition said that a proper tourism package is introduced for more effective results. But the area and districts for home stay has to be increased to conduct tourism package in the district. He said that the tasks of promotion of home stay as well as package formation from local tour agents have already been started.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Great Himalaya Trail has expanded from eastern region to far-western region covering 16 mountain districts. The starting of this trekking route was from Dolpa and Humla. For the promotion of the trekking trial of Humla, GHT has developed Nyin Valley trekking trail from Bar Gaun VDC to Raling Gumba. A five-day package has been prepared for the promotion of this place and an eight-day package is developed for the tourists going from Kathmandu to the village.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	At the same time, the introduction of Great Himalaya Trail has provided tourists with new experience of trekking and also endowed the people of Gorkha district with employment opportunities that have enhanced their living standard.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It&rsquo;s been long since the people of southern part of Gorkha district started moving to foreign countries seeking employment opportunities. Dil Bahadur Gurung, Principal of Dewalswara Primary School, Ghyachhok said, &ldquo;There are around 400 houses in Ghyachhok and the food produced here is sufficient only for 200 houses. The scarcity of food has led the people to the foreign countries.&rdquo; Rice doesn&rsquo;t grow in the area, and the local farmers focus only on traditional methods of farming. Prem Bahadur Gurung, one of the locals said that at least two to three members of a family have gone to foreign countries for employment.&nbsp;</div>
<div>
	According to 2011 census, more than 10 per cent, that is 28,104 people, of the population of this district, was out of the district and majority of them had gone for foreign employment. But the trend is reversing though slowly and the credit goes to the Great Himalaya Trail (GHT) that passes through this village. Dil Bahadur of Uhia VDC had gone to Qatar in search of employment, but now he has returned beck. His wife was running an inn in Khorla Besi some months ago, but now she has opened an inn at her own house. She said, &ldquo;I used to earn around Rs 20,000 &ndash; 25, 000 in Khorla Besi during tourist arriving seasons, but now the arrival of tourist is increasing in our own village and it is easier for me to work here.&rdquo; The locals of the VDC also have started vegetable farming. The tourists mainly arrive in two seasons yearly. October to December and March to May are considered as tourist arrival seasons here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dil Bahadur took cook training from SNV Nepal under the Great Himalaya Trail Development Programme after returning to Nepal. Now the couple is running the inn business and is self employed. Their inn is at seven hours walking distance from Laprak and since there are no other hotels on the way; they are doing a very good business. They are also planning to convert the inn into a Home Stay format. Along with Dil Bahadur, 90 other people of this district have received training from Great Himalaya Trail Development Programme and are in the process of being self employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Project has developed trekking trail from Siran Danda of Gorkha to Lamjung which has provided self employment opportunities to numerous people. According to the locals, the tourists trekking along this trail not only get to know about the culture and lifestyle of Himalayan region but also get to taste the local cuisines. The home stay system also arranges cultural programmes and ethnic dance for the entertainment of the tourists.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<p>
					&nbsp;</p>
				<p>
					<img alt="Laprak VDC of Gorkha" src="/userfiles/images/LAPRAK%20VDC.jpg" style="width: 500px; height: 285px;" /></p>
			</td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Laprak VDC of Gorkha</td>
		</tr>
	</tbody>
</table>
<div>
	The people of Gorkha district have direct income options after the introduction of the trail. As the number of tourists is increasing, 21 households have already started Home Stay services and three households are planning for the same. Manush Ghale, President of Local Home Stay Management Committee said that 900 foreign and domestic tourists have stayed on the village under the Home Stay system till now. She said that around 60 tourists had stayed in the first year, and gradually the number of tourists increased. Ghale stressed on further promotion of the trail as the people are earning money through home stay business, but they still are not able to sustain their livelihood solely from this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Foreigners are charged Rs 1000 and domestic tourists have to pay Rs 700 for accommodation and food for a day. The increasing number of tourists in the area has also increased the prospect of income and the people have started opened numerous inns as Laprak VDC is renowned as a village of guides. Five locals of the VDC have been running trekking agencies in Kathmandu and around 50 per cent of the youths have taken tourist guide profession in the village. Still this profession has not been growing commercially.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, Great Himalaya Trail has also started providing guide training. Raj Gurung, a Laprak local said that this training will help them to be a professional guide and the income source will also increase accordingly. Other local youth are also attracted towards this training.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Development Programme has provided skill development trainings to 62 locals, leadership development training to 91, trekking guide training to 25 and other capacity building training to 98 people till now. An information centre has also been established in Gorkha which helps tourists to get information about the tourist destination. The Programme also has been constructing bridges, foot trails, and drinking water projects in different place of the district. Also, it has been influencing the locals for proper utilization and promotion of the environment.</div>
<div>
	&nbsp;</div>',
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			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party&rsquo;s Central Working Committee (CWC) meeting held on August 29 witnessed a debate on whether to adopt the 13-province or the seven-province federal model as proposed by vice-president Ram Chandra Poudel in the political report.</div>
<div>
	&nbsp;</div>
<div>
	A CWC member Mohammad Aftab Alam said that most members from the Madhes and ethnic communities are in favour of the 13-province model while others support the seven-province model.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The political report tabled in the last &lsquo;Mahasamiti Meeting&rsquo; held in Tribani of Nawalparasi on April 8 was endorsed in the CWC meeting after incorporating suggestions from delegates of the meeting as well as CWC members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party, however, has not finalised the model of federalism it is to adopt. The decision would be finalised by a committee led by vice-president Ram Chandra Poudel which was formed during the Mahasamiti Meeting. The Mahasamiti Meeting had delegated the resposibility to the committee to come up with a suitable federal structure after the party&rsquo;s jamboree failed to do so.</div>
<div>
	&nbsp;</div>
<div>
	Unlike the compromise made by the party for a mixed system of governance in the erstwhile Constituent Assembly, the NC in its report has said that it will adopt the parliamentary system this time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NC has said that the party&rsquo;s election manifesto will be drafted based on this report. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the party requested people to donate money for election expenses through its bank accounts. Issuing an appeal, the party has said its bank accounts have been opened in different parts of the country to make the donation transactions open and transparent.</div>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.',
			'sortorder' => '1590',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 1 => array(
		'Article' => array(
			'id' => '1728',
			'article_category_id' => '34',
			'title' => 'New Business Age Publications SMS Keywords List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">To See the Keywords List</span></strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For listing all SMS Keywords of Nubiz Publications: Type &#39;</strong>nubiznewskeywords<strong>&#39; send it to 2233 to see all the keywords on your mobile.</strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">तपाईको मोबाईलमा नेपाली अक्षर बुझिँदैन ? यस्तो गर्नुस्</a><span style="font-size: small;"><strong><span style="text-decoration: underline;"><a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">&nbsp; </a>(click here)<br />
	<br />
	<br />
	Abhiyan News Keywords</span></strong></span></p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For receiving Abhiyan Front Page Headlines - Type &#39;</strong>abhinews<strong>&#39; send it to 2233<br />
	<br />
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<p style="text-align: left;">
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<p style="text-align: left;">
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<p>
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<p>
	&nbsp;</p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">New Business Age News </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For </strong></span><span style="font-size: small;"><strong>receiving </strong></span><span style="font-size: small;"><strong>New Business Age PUblicatio Coverstory Headlines&nbsp; -&nbsp;&nbsp; Type &#39;</strong>nbanews<strong>&#39; send it to 2233<br />
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<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">The corproate Weekly </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
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<p style="text-align: left;">
	<span style="font-size: small;"><strong>For </strong></span><span style="font-size: small;"><strong>receiving </strong></span><span style="font-size: small;"><strong>The Corporate News Headlines&nbsp;&nbsp; - Type &#39;</strong>tcnews<strong>&#39; send it to 2233 &nbsp; </strong></span><br />
	<br />
	<br />
	<br />
	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-02',
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			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'For listing all SMS Keywords of Nubiz Publications: Type 'nubiznewskeywords' send it to 2233 to see all the keywords on your mobile.',
			'sortorder' => '1589',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1727',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="US GDP" src="/userfiles/images/gdp(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />US GDP Accelerates Sharply&nbsp;</span></strong></div>
<div>
	The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program. Gross domestic product grew at a 2.5 percent annual rate, according to revised estimates for the period that were released by the Commerce Department on Thursday. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="China Oil " src="/userfiles/images/coil.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />China Oil Giant Sinopec Buys into Egypt for $3.1 bln</span></strong></div>
<div>
	Chinese oil giant Sinopec will pay $3.1 billion for a one-third stake in the Egyptian oil and gas business of US firm Apache Corp. it said on Friday, as China builds up its access to global energy reserves. The deal, which is still subject to regulatory approval, marks Sinopec&rsquo;s first entry into Egypt&rsquo;s upstream oil and gas sector, according to a company statement.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Gold Drops Below $1,400" src="/userfiles/images/gold(2).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />Gold Drops Below $1,400</span></strong></div>
<div>
	Gold slid below $1,400 an ounce on Friday as the dollar rallied to a four-week high, with investors squaring positions at the end of the month and cashing in on a recent run-up ahead of a long U.S. holiday weekend. Spot gold eased 0.93 percent to $1,394.51 an ounce by after slipping to a session low of $1,392.06 an ounce. U.S. December gold futures lost $18.10 an ounce to $1,394.8 an ounce, down 1.28 percent.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="BRICS Agree" src="/userfiles/images/bricks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />BRICS Agree Capital Structure for Development Bank&nbsp;</span></strong></div>
<div>
	The BRICS bloc of large emerging economies have agreed on the capital structure for a proposed development bank that aims to reduce their reliance on Western financial institutions, a newspaper reported. Officials from Brazil, China, India, Russia and South Africa agreed to set up the bank with a total capital of $50 billion, shared equally among them, it quoted an unnamed senior Indian government official as saying. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Samsung" src="/userfiles/images/samsung(5).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 66px; width: 100px;" />Samsung Emerges as the Top supply chain Company in Asia Pacific</span></strong></div>
<div>
	Korean electronics major Samsung has been ranked at the top in IT research firm Gartner&rsquo;s list of 25 major performing supply chain organisations in Asia Pacific region. &nbsp;Chinese PC and mobile devices maker Lenovo bagged the second position, backed by impressive revenue growth and inventory turns, Gartner said.&nbsp;</div>',
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			'description' => 'The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.',
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		'Article' => array(
			'id' => '1726',
			'article_category_id' => '138',
			'title' => 'Study Reveals Large, Untapped Potential For Water And Sanitation Services For The World’s Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="" src="/userfiles/images/ifc(2).jpg" style="width: 500px; height: 79px;" /></div>
<div>
	&nbsp;</div>
<div>
	Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector. &nbsp;A new report released by the World Bank&rsquo;s Water and Sanitation Program (WSP) and the International Finance Corporation (IFC) on August 29 finds that this will not only improve their livelihoods but is also an enormous market potential which waits to be tapped. &quot;Today, 2.5 billion people lack access to sanitation and at least 780 million people lack access to safe drinking water. &nbsp;Global estimates of economic losses from the lack of access to water and sanitation are estimated at US$260 billion every year,&quot; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The public sector alone cannot meet this massive challenge; if we want to end extreme poverty by 2030 and boost shared prosperity for the bottom 40%, we will have to scale up water and sanitation access,&rdquo; said WSP Manager Jae So. &nbsp;&ldquo;And to do that, both the public and private sector will need to work together.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the most striking findings of Tapping the Markets: Opportunities for Domestic Investments in Water and Sanitation for the Poor, is the enormous market potential. Focusing only on Bangladesh, Benin, and Cambodia, about 20 million people are projected to obtain their water from rural piped water schemes by 2025. That is 10 times the current number, a market worth at least US$90 million a year. On the sanitation side, there is a potential US$700 million Bottom of the Pyramid market in Bangladesh, Indonesia, Peru, and Tanzania. &nbsp;The current total market for improved on-site sanitation services in these four countries is estimated to be worth US$2.6 billion.</div>
<div>
	&nbsp;</div>
<div>
	The results of the study offer new solutions to prevent the thousands of daily child deaths and hundreds of billions of dollars in annual economic losses caused by lack of access to water and toilets. &nbsp;It takes a hard look at the challenges faced in tapping the business opportunities in developing countries by private firms willing to make the commitment to reaching the poorest people.</div>',
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			'description' => 'Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector.',
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		'Article' => array(
			'id' => '1725',
			'article_category_id' => '137',
			'title' => 'India Outpaces Japan To Become World’s 3rd Largest Internet User',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India surpassed Japan to become the world&rsquo;s third-largest Internet user, based on the size of its online population, behind only the U.S. and China. The growth highlights the potential of India&rsquo;s fast-growing e-commerce market, according to a report from global digital measurement and analytics firm ComScore.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Riding on a 31 per cent year-on-year increase, India&rsquo;s online population grew to 73.9 million. With an extended online universe in excess of 145 million the market is at a tipping point for online businesses. India is the world&rsquo;s third largest Internet population,&rdquo; the report said.The country overtook Japan by adding 17.6 million users in 2012, the ComScore report said.Of the total 644 million home and work Internet users in Asia-Pacific as of March 2013, China accounted for a lion&rsquo;s share of 54 per cent followed by India (11.5 per cent), Japan (11.4 per cent), Southeast Asia (9.6 per cent) and rest of APAC (13.5 per cent).On consumption, ComScore said that media fragmentation is occurring at light speed in today&rsquo;s multi-platform environment, which features not only computers, but smartphones, tablets, gaming platforms and a ever-increasing number of emerging devices.</div>
<div>
	&nbsp;</div>
<div>
	According to the study, India has the youngest skewing online population among BRIC countries, with 75 percent of its Internet users under the age of 35. &ldquo;Although the U.S. held 66 percent of the total global Internet audience in 1996, it now accounts for just 13 percent of the global online users, while the Asia-Pacific region accounted for 41 percent and Europe accounted for 27 percent of the global Internet users in 2012,&rdquo; the report states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, U.S. users spent the most time on the Internet with North Americans spending 37.2 hours, while users from Asia-Pacific spent just 17.2 hours, on an average, in a month. India&rsquo;s strong growth in its Internet audience -- at six times the global average growth rate &ndash; holds enormous opportunity for the country&rsquo;s e-marketers, which helps the country&rsquo;s e-commerce sector, which is estimated to reach $100 billion in size by 2015, according to estimates.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;While 60 percent of Web users in India visit online retail sites, time spent on shopping sites still has huge growth potential,&rdquo; the report said. India&rsquo;s online retail market grew more than 60 percent in 2012-2013, with the apparels market growing by 21 percent, ComScore said. Indian Internet users spent 25 percent of their online time in social networking websites, with 86 percent of the total audience visiting such sites in the last fiscal year. Facebook dominates the segment with 59.6 million user-visits and a 28 percent increase in the traffic. Entertainment and online video segments also witnessed exponential growth with 54 million users, in 2012-13. &ldquo;The online video audience in India grew an astounding 27 percent in the past year, and YouTube continues to be the top video property with more than 55 percent share,&rdquo; according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h5>
		&lsquo;Mobile internet fueling internet population growth in Nepal&rsquo;</h5>
	<div>
		In line with the global surge, Nepal is also witnessing a staggering growth of internet population. According to a report published by Nepal Telecom Authority (NTA) in July, over 25 per cent of Nepali citizens have access to internet connection. &ldquo;As of mid-July (last fiscal year), Nepal&rsquo;s internet penetration rate reached 26.10 per cent of the total population against the rate of 19 per cent in the same period of last year,&rdquo; the report states.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		The report informed that the total number of internet users has reached 6.91 million.&nbsp;</div>
	<div>
		The robust use of internet is fueled by mobile internet, sub-broadband and high speed services such as WiMax. However, the high speed 3G wireless mobile network is seen as the main driving factor of internet population growth in Nepal. &ldquo;Out of total subscribers, 6 million users surf the world wide web through their mobile devices,&rdquo; reads the NTA report. The sharp rise in the availability of low-cost smartphone handsets and competitive bandwidth prices are seen as factors attracting internet users. Furthermore, the appeal of social media is also considered as another major element which contributes to the rise of internet users. In July, commercial web traffic data provider Alexa Internet Inc, a subsidiary of Amazon.com, ranked Facebook as the most popular website among Nepali internet users. The company also ranked Twitter and Linkedin in 12th and 13th place in Nepal respectively.</div>
	<div>
		&nbsp;</div>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'India surpassed Japan to become the world’s third-largest Internet user, based on the size of its online population, behind only the U.S. and China.',
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		'Article' => array(
			'id' => '1724',
			'article_category_id' => '135',
			'title' => 'Auto Oil Pricing Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The hostility of the oil price hyping continues to threaten the economic social development rights of the people. This tends to effect more to the 80 per cent of the working class, middle class, and the people living below the threshold level least effecting the 20 per cent of the elite who continue to consume almost 60 per cent&nbsp;</span><span style="font-size: 14px;">of the national &nbsp;income. This augmentation on oil price is not only effecting the oil consumer but has even devastating effect on the poor when the price of all other basic necessities hype to a greater level but there is no shift in the income level of the 80 per cent even if there is least possibility.</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Saroj Pandey, Former president, Nepal Petroleum Dealers’ Association (NPDA)" src="/userfiles/images/dsp.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 229px;" />Saroj Pandey</span></strong></div>
<div>
	<span style="font-size:14px;"><em>Former president, Nepal Petroleum Dealers&rsquo; Association (NPDA)</em></span></div>
<div>
	&nbsp;</div>
<div>
	One of the major reasons behind the oil pricing mechanism is the oil politics, the bigger picture lies behind the veil that is reluctance of both political parties and the National Oil Corporation (NOC). The NOC being one of the biggest pitch for corruption, this extreme incompetence of the two sides is leading the country towards black hole of economic detriment. The reluctance can be seen, after facing so many oil crisis and dispute. The NOC has not been able to set any petroleum regulatory mechanism nor does the government have it been able to bring any sort of law and act regarding petroleum distribution and regulation. This incompetence of the government and the NOC is leading frustration among the people and also among private investors. This mismanagement of corporation and constant oppression to the people will have to come to an end. &nbsp;If they cannot run the country and the corporation they will have to raise their hands to surrender the oil pricing mechanism to the market forces. There I suggest the Government to wash their hands off the dirty politics and the private investor to maintain their ethics and give justice to this crisis.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deepak Subedi,Spokesperson, Ministry of Commerce and Supplies " src="/userfiles/images/ds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 232px;" />Deepak Subedi</span></strong></div>
<div>
	<em><span style="font-size:14px;">Spokesperson, Ministry&nbsp;</span><span style="font-size: 14px;">of Commerce and Supplies&nbsp;</span></em></div>
<div>
	&nbsp;</div>
<div>
	The budget has clearly decided to take on the auto pricing mechanism and the government is slowly moving toward the required policy formation to adopt the system, it is a gradual process because if the prices are abruptly left on the auto mechanism there would be rapid growth of inflation which could make the situation even more chaotic. Looking at the past, the previous governments had constantly tried to raise the price of the oil, which led to protest. Then the government was forced to revoke those decisions immediately. But this government &nbsp; seems committed and is looking for a long term solution .Because of the over hiking debts this government has decided cut subsides.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The hostility of the oil price hyping continues to threaten the economic social development rights of the people.',
			'sortorder' => '1585',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1723',
			'article_category_id' => '134',
			'title' => '‘Comprehensive Strategy Needed For Hydropower Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Yasing Zhang,Senior Vice President of Sinohydro Resources Ltd, " src="/userfiles/images/yz.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 184px;" />Yasing Zhang</strong> is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. In a tete-e-tete with <strong>Sanjeev Sharma</strong> of The Corporate, he expresses his plan to tap hydropower potential in Nepal.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Power Summit&nbsp;</span></strong></div>
<div>
	I think, the Power Summit 2013 organised by the Independent Power Producers Association of Nepal (IPPAN) has provided a platform for investors, policy makers and stakeholders to freely express their views and to discuss various topics regarding the hydropower sector. I believe that the discussions helped iron out major hassles prevailing in the sector. In this regard, the Power Summit 2013 has successfully achieved its goal to hasten the pace of hydropower development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">FDI in the Hydropower</span></strong></div>
<div>
	As an investor, we feel that there is an absence of preferential and privilege policies to attract foreign investment in Nepali hydropower projects. There are no incentives in terms of taxes for foreign investors. The tax burden created from provisions of contract tax and value added tax (VAT) is putting pressure on the developers. The absence of proper insurance policies pertaining to hydropower has also been hindering foreign investment. Investments in projects are always at risk in case of natural disaster or big technical failures if there are no proper insurance policies in place.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;It is necessary to formulate investment-friendly policies to attract Foreign Direct Investment (FDI). Thus, policy makers should harmonise existing laws.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems for Investors</span></strong></div>
<div>
	Nepal has tremendous hydropower potential. But the country has yet to tap its potential due to several problems mostly linked to project licensing, technical issues as well as legal hurdles. I think the Nepal government should be ready to relax existing hassles on agreement and licensing to ensure timely service delivery. In Nepal, there is no procedure in accordance with international standards to issue Project Development Agreements (PDA), which slows the pace of project development and adversely affects the sentiment of developers. The initial survey licenses of various major projects are held by domestic/foreign developers for several years or even decades. Similarly, there are also issues regarding Power Purchase Agreements (PPA). The fluctuation in foreign exchange rate makes things difficult for power developers as they are more likely to face loss in selling the electricity they generate. These issues should be addressed first hand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are several infrastructure-related constraints. Poor roads, lack of transmission lines, difficulties in conducting projects in remote areas and insufficient supply of construction materials and equipments are other problems in developing a project here. &nbsp;Likewise, awarding a single river basin to many contractors is also adding complications. Some social and political influences such as frequent protests and strikes against particular projects and inadequacy of local skilled staffs are other contributing factors.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Solutions to the Existing Hassles</span></strong></div>
<div>
	Effective policies are needed to solve all aforementioned problems. Developing common standards and procedures concerning hydropower investment will also have positive impact. A common standard and procedures should address issues regarding contract and licenses, company registration, bank account opening and control of foreign currency. Issues regarding the holding of initial license can be solved by cooperation with or transferring from the initial license holder. As far as PDA and PPA are concerned, the government should follow procedures in line with international standards.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is an exigency in preferential policy provision on hydropower investments. This includes duty exemption and tax reduction on raw materials, construction equipments, vehicles, and the income of power developers. Convenience on custom clearance and flexibility in work visa will also boost the morale of foreign investors. There are several issues regarding land acquisition by the projects. This issue could be solved by issuing instructive principles of land acquisition. Establishing a general administration on land acquisition and transfer capable of providing guiding land price in different regions and project areas will be the first right step. Secondly, simplifying the land acquisition and transfer procedure is also necessary.</div>
<div>
	&nbsp;</div>
<div>
	One-stop service of hydropower development can deliver effective solutions. For that, the government should set-up a stable and comprehensive agency responsible for hydropower administration in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Water Resource Management&nbsp;</span></strong></div>
<div>
	Hydropower development is directly linked to water resource management. If properly managed, the water resource of a single project can be used for various purposes. For this, Nepal needs to identify pilot projects. Those projects should be fairly large enough in terms of power generation. This will help focus efforts in hydropower development. Apart from electricity generation, such projects may also provide water for irrigation and drinking.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Sinohydro&rsquo;s Plan&nbsp;</span></strong></div>
<div>
	Sinohydro Resources Limited is the overseas investment window of Power Construction Corporation of China (Power China). We have been in overseas investment business since 2004 with a registered capital of USD 400 million. We entered the Nepali market in 1995 and successfully accomplished six major hydropower, irrigation and infrastructure projects since then. The Ilam Hydroelectric Project, Modi Hydroelectric Project, Sikta Irrigation Project Phase 1, Sunsari-Morang Irrigation Project, and Bagmati Irrigation Project were handed over to the Nepal government after completion. Similarly, we upgraded the Tansen-Tamghas road project. Currently, Sinohydro is engaged in civil works of Kulekhani 3 and Upper Tamakoshi. Likewise, the 50MW Upper Marsyangdi &lsquo;A&rsquo; hydropower project is being developed with our investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Nepal should Take Advantages</span></strong></div>
<div>
	Nowadays, trading of surplus power is becoming a lucrative trade in the world. Nepal can earn substantial amount of money from such trading. I suggest the government and concerned authorities to formulate a master plan of power consumption. The plan should assess domestic requirements and power for export. Similarly, the establishment of a nationwide transmission network is also necessary for electricity export.&nbsp;</div>',
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			'created' => '2013-09-02',
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			'description' => 'Yasing Zhang is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. I',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1722',
			'article_category_id' => '152',
			'title' => 'Focus Briefs (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">Banks and Promoters at Loggerheads over Property Evaluation: Governor</span></strong></div>
<div>
	Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other. While addressing the Power Summit, Khatiwada said, &ldquo;The banks say that the promoters tend to inflate the equity amount of the projects, while the promoters blame the banks for under evaluating the asset while financing their projects.&rdquo; Shedding light on the risk aversion issue in the hydropower sector investment, he advised both the parties to build confidence rather blaming each other for the problem. The central bank governor also opined that the project developers should include the risk of exchange rates in the project analysis and financial appraisal instead of seeking risk guarantee from the government on foreign investment.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Strike at Upper Madi Hydropower Project</span></strong></div>
<div>
	Nearly 90 Nepali workers went on a strike at Upper Madi-hydropower at Sildujure in Kaski after their demand for pay as per the international labour organizations went on deaf ears. Most of the protesters include drivers, operators, labourers, and welders. Vice-chairperson of Workers&rsquo; Committee&rsquo;s Guna Prasad Baral said, &ldquo;We were forced to take this decision after the contractor did not pay any heed to their twenty-point demand that we put forth.&rdquo; Their demands include reduction of duty hours, over-time allowance, Dashain bonus and work place security, among others. Later a meeting between the agitating parties and the management committee was held but it ended inconclusively. &ldquo;There is no work environment at the construction site. No allowance or other facilities are provided to drivers. We have to wear the same pair of shoes, that don&rsquo;t last even for 15 days, for more than six months and we don&rsquo;t even have a toilet,&rdquo; Baral said. Meanwhile, Pas Bahadur Bastola, undersecretary of stakeholder&rsquo;s committee expressed solidarity with the workers&rsquo; agitation. As many as 100 Chinese nationals are working in the project. The hydro project, with a capacity of 25 MW, was initiated with the joint investment of Chinese Three Georges and Nepal&rsquo;s private sector. It had started on December 29 in 2012 with completion time of 28 months. The estimated cost of the project is Rs 5.28 billion and it was supposed to be completed by April 2015.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Exploring Possibilities in Hydro Sector</span></strong></div>
<div>
	The politicians participating in the power summit 2013 threw support for &ldquo;integration of power markets&rdquo; of Nepal, China and India &ldquo;for the benefit of everyone in the region&rdquo;. Although Nepal is said to have a potential of producing 83,000MW of hydroelectricity from its rivers, the country so far has been able to tap less than 800MW of that. As a result, hours-long power outage has become a norm in the country, which is affecting production at various industries and hindering country&rsquo;s economic development. &ldquo;Water resources need to be exploited to achieve higher growth rates. If we cannot do this the country&rsquo;s dream of graduating to the grouping of developing nations, will only remains a pipe dream,&rdquo; said Radhesh Pant, CEO of the Investment Board, which oversees implementation hydro projects of over 500MW, among others.</div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other.',
			'sortorder' => '1583',
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	),
	(int) 8 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '2013-09-10',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
			'sortorder' => '1582',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1720',
			'article_category_id' => '160',
			'title' => 'Corptoon Vol 3 Issue 29',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Corptoon',
			'sortorder' => '1581',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
			'homepage' => false,
			'breaking_news' => false,
			'main_news' => false,
			'in_scroller' => false,
			'user_id' => '0'
		)
	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1719',
			'article_category_id' => '91',
			'title' => '157.8 Million Shares Listed In NEPSE',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Securities Board of Nepal (SEBON) has provided all kinds of share issuance permits up to Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO shares up to Rs 3.51 billion to 23 companies, right shares up to Rs 3.94 billion to 5 companies, bonus shares up to Rs 4.60 billion to 52 companies and bond issuance up to Rs 3.15 billion to 7 companies. There is a possibility of these shares being listed in NEPSE for transaction in the current fiscal year which ensures the expansion of share markets in comparison to the previous fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Market Size Increased by 40pc</strong></div>
<div>
	Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-2013. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011-2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-2013. &nbsp;According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies, share and investors within this year. He also said the operation of essential infrastructures of share market like CDS &amp; Clearing and mutual funds also helped to increase the market size. Poudyal added, &ldquo;The investors are also increasing lately with the continuity of share market activities.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Transaction Rate Doubled</strong></div>
<div>
	The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-2012. The share transaction was of Rs 10.27 billion in FY 2011-2012 which has reached up to Rs 22.4 billion in FY 2012-2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Listed Companies Reached 230</strong></div>
<div>
	The number of listed companies in the previous fiscal year has reached 230. Among the listed companies, there are 198 bank and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 commercial organisations, 4 hydro power companies and 2 other groups. &nbsp;There were 216 listed companies in FY 2011-2012.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-01',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE.',
			'sortorder' => '1580',
			'image' => null,
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	(int) 11 => array(
		'Article' => array(
			'id' => '1718',
			'article_category_id' => '91',
			'title' => 'Devaluating Rupee Costs Industries Dearly',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though Nepal Oil Corporation (NOC) has not hiked the price of petroleum products due to the sharp fall of the Rupee, NOC cannot withhold the loss incurred in petroleum products for a long time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Nepali Rupee plunged as low as Rs 108 last week against a unit price of the US Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Industrialists lament that they will have to suffer badly due to the price hike of petroleum products resulting from the free-fall of local currency against the Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Pashupati Murarka, vice-president of Federation of Nepal Chambers of Commerce and Industry, says that the government will be left with only two choices. According to him, the government either has to provide more subsidies to NOC to keep the price of petroleum products unchanged, or it has to adjust the price of petroleum products. &nbsp;&ldquo;Either way, it would take a toll in Nepal&rsquo;s crippling economy, particularly industries,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Currently, NOC is reeling under a heavy loss. According to the NOC officials, the corporation incurred a loss of Rs 1.62 billion last month. While unveiling the budget for FY 2013-14, the government said it would adopt the auto price mechanism to adjust the price of petroleum products with the international market.</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s industries are now relying heavily on diesel to meet energy demands due to extreme daily power outage. At present, the demand and supply gap hovers around 300MW, with a demand of 900MW demand against a 450MW supply.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The price hike in petroleum products following the depreciation of the Nepali Rupee, pegged with the Indian currency, would have an adverse impact on the cost of manufacturing products. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Murarka estimated that Re 1 increase in diesel per litre would raise the cost of electricity of the industry by 0.30 paisa per unit. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if the government comes up with subsidies to save the NOC from a heavy loss, short supply will create problems for factories that are already battered with regular power cuts,&rdquo; says Murarka, warning that such short supply could also lead to black marketing of petroleum products.</div>
<div>
	&nbsp;</div>
<div>
	The import of petroleum products only accounted for Rs 107 billion out of total import bill of Rs 257.66 billion for 10 commodities from India in FY 2012-13. In FY 2011-12, the petroleum import bill was at Rs 92.25 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Ministry of Finance Chief Advisor Dr Chiranjibi Nepal, the country&rsquo;s total export amount is not even adequate to foot the bill of petroleum alone.</div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<ul>
						<li>
							<strong>Devaluation of the Rupee will hike petroleum price</strong></li>
						<li>
							<strong>Price hike in petroleum will have adverse impact on manufacturing costs</strong></li>
						<li>
							<strong>Govt subsidies not likely to alleviate inflation&nbsp;</strong></li>
						<li>
							<strong>Industrial sector is now relying heavily on diesel for power generation</strong></li>
					</ul>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'created' => '2013-09-01',
			'modified' => '2013-09-01',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.',
			'sortorder' => '1579',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1717',
			'article_category_id' => '182',
			'title' => 'Secure Investment Should Be Guaranteed For Funding',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Debate of Month" src="/userfiles/images/debate.jpg" style="width: 500px; height: 376px;" /></div>
<div>
	<strong>--By Sweta Sharma&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">There are multiple factors that have limited our economy&rsquo;s growth in the past few years, the most important being poor investment in mega projects that provide &ldquo;Big Push&rdquo; for development. Frequent changes in the government&rsquo;s plan and policies hamper the flow of investment in the country. As a result, Nepal does not to attract enough foreign investors. What can be done? Here are views from some experts :</span></div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Subarna Das Shrestha ,President Independent Power Producers’ Association, Nepal (IPPAN)" src="/userfiles/images/sds(1).jpg" style="width: 175px; height: 192px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Subarna Das Shrestha</strong></div>
									<div>
										<em>President</em></div>
									<div>
										<em>Independent Power Producers&rsquo;</em></div>
									<div>
										<em>Association, Nepal (IPPAN)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Mega projects are big projects that need huge investments for operation. Investors require a stable policy but the Nepali government is not able to form strong policies for mega projects. Before investing in a mega project, investors would compare the benefits from investing in Nepal or in other countries. The frequent change in government policy in Nepal had affected the terms and conditions of issuing a license. since the license for a mega project, such as in hydropower is a long period, such as for 35 years, want security of their investment for equally long period.&nbsp;</div>
					<div>
						<div>
							&nbsp;</div>
						<div>
							Private sector investment could be of great help in funding mega projects. But this year, the budget only focused on public projects. This gives reason to worry. As for funding from banks, the main issue would be loan financing. Banks provides 70-80 percent of the project cost as loan and they want loan protection. The government, on the other hand, seems to be very slow in the development of mega projects.&nbsp;</div>
						<div>
							A proper land acquisition policy should be implemented for smooth implementation of mega projects. The Foreign Investment and Technology Transfer Act is also not investor-friendly. Thus, the Project Development Agreement (PDA) that the developer has to sign with the goverment should be bankable and internationally accepted. PDA could be the overall solution for funding mega projects in Nepal either for domestic investment or foreign investment. Recently, IPPAN proposed a PDA to the government on 7th July, 2013 and government seems positive regarding it.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gyanendra Lal Pradhan Chairperson Energy Committee of FNCCI" src="/userfiles/images/glp.jpg" style="width: 200px; height: 209px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gyanendra Lal Pradhan</strong></div>
									<div>
										<em>Chairperson</em></div>
									<div>
										<em>Energy Committee of FNCCI</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Nepal does not have the capacity to run mega projects. Environment for investment is not quite favorable and it is difficult to attract investors. The main problem is, there is an internal conflict in both the government and the private sector. The policies are not clear about funding mega projects from different sources. Time and again policies get changed with the change in government. This has definitely made it difficult to attract foreign investors. Nepal&rsquo;s government still lacks willingness to provide safety to investment. The bank alone is not able to fund mega projects as it needs huge investment and on top of that Central Bank has increased the paid up capital requirment for banks. In this situation, we cannot expect from banks to contribute in mega projects. Though the budget for fiscal year 2013/14 said it has given emphasis on energy sector, it still is not reasonable. Government has yet failed to meet the expectations of energy sector to bring special programmes. The country needs some concrete programmes when it is going through such severe energy crisis. In this situation, government should be able to involve private sector to fund mega projects considering their demands and suggestions.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Madhu Bhetuwal Department of Electricity Development Senior Divisional Engineer (SDE)" src="/userfiles/images/mb.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Madhu Bhetuwal</strong></div>
									<div>
										<em>Department of Electricity</em></div>
									<div>
										<em>Development</em></div>
									<div>
										<em>Senior Divisional Engineer (SDE)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						The main hurdle to fund mega projects and hydro projects is political instability. Nepal is experiencing the political chaos since long. Instability in politics have led to hurdles in forming concrete policies. As long as Nepal does not have firmed policies regarding investments, investors will never be interested in any mega projects. Talking about Nepal&rsquo;s experience regarding policies, it is yet not consistent. In this context, government should be able to bring long term plans and programmes to maintain the consistency in mega projects operation. Next issue is that of income tax. It is not clear what income tax rate will be after 2015. It is natural that general public are not inclined to invest in mega projects as there is no mechanism to secure the investments. So, it is must to establish a safer mechanism to attract funds from general public. There exists the confusion about who is to supervise the hydro projects by Ministry of Energy or Investment Board. Thus, this confusion too should be cleared. Similarly, talking about the hydro projects, there is difference in royalty of Electricity Policy and Electricity Act. The Act has a provision for lower royalty whereas the policy has a provision for higher royalty. This too has created problem in investment which needs to be cleared soon. The projects should be supervised by one body so that there won&rsquo;t be any problems in running any mega project.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Radhesh Pant CEO Nepal Investment Board" src="/userfiles/images/rp.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Radhesh Pant</strong></div>
									<div>
										<em>CEO</em></div>
									<div>
										<em>Nepal Investment Board</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<div>
							Present legal hurdles for funding of mega projects in Nepal in terms of getting funds from banks, non-banking organization, foreign investors and general public are:&nbsp;</div>
						<div>
							&bull; Non-recourse financing is difficult to obtain because BAFIA requires&nbsp;</div>
						<div>
							collateral / security for any lending by financial institutions (Banks, Finance companies, Insurance);&nbsp;</div>
						<div>
							&bull; Inability of current Financial Institutions to raise funds outside of&nbsp;</div>
						<div>
							retail deposits;&nbsp;</div>
						<div>
							&bull; Single Obligor Limits (SOL) and Sectorial limits mandated by NRB regulations;&nbsp;</div>
						<div>
							&bull; Not necessary a legal hurdle, but there is a lack of depth in Nepal&rsquo;s financial instruments and products with an active secondary market for such instruments.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							In my opinion, these legal hurdles can be removed by adopting the following measures:&nbsp;</div>
						<div>
							&bull; Create a new class of financial institutions that would be allowed to lend on a non-recourse basis with new set of guidelines on SOL and sectoral limits;&nbsp;</div>
						<div>
							&bull; Regulations to create and foster confidence in active secondary markets for fixed income securities and other financial instruments to finance large infrastructure projects</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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		'Article' => array(
			'id' => '1716',
			'article_category_id' => '175',
			'title' => 'Tourism: Ready To Take Off Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Tourism Nepal" src="/userfiles/images/tourism.jpg" style="width: 500px; height: 257px;" /></div>
<div>
	&nbsp;</div>
<div>
	Tourism flourishes in tranquility. It fructifies in those situations where tourists&rsquo; movement is not constricted by any internal or external factors. Thus, political instability is proved to be the biggest hindrance for the smooth operation of tourism industry in Nepal. But Nepal is gradually emerging from the situation of political instability and uncertainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The tourism industry of Nepal has not yet tapped to the possible opportunities as Nepal&rsquo;s nature-based tourism can offer a lot to visitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal witnessed the positive sign by the total tourist arrivals in 2012 figuring 598,204 which is 53,219 more visitors compared to 2011. The year 2012 has concluded with positive notes both in terms of total visitor arrivals for the month of December and also for the whole year, according to Nepal Tourism Board (NTB).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to statistics of Nepal Tourism Board (NTB), a total of 598,204 foreign tourists entered the country via aerial route in 2012. Nepal welcomed around 161,000 European tourists in 2012, according to the statistics. The statistics shows total arrivals from Asia, other than South Asia, grew by 15.1 percent during in 2012. The statistics of 2012 also show that 12.97% tourists visited Nepal for the purpose of trekking. Similarly, 3.85% visited for official purpose, 3.11% for business, 12.76% for religion, 4.09 for leisure, 0.62% for mountaineering, 1.71% for conventions and exhibition, 0.21% for rafting, 4.3% for travel, 2.36% for research and 3.69% for other purposes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Tourist Inflow Nepal" src="/userfiles/images/tourist%20inflow.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 153px;" />The statistics show glimpses of possibilities for a bright future of tourism.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent between 2011 and 2012. A total of 7, 36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent in 2012.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotels in Nepal" src="/userfiles/images/no%20of%20hotels.jpg" style="width: 238px; height: 185px;" />&nbsp;&nbsp;<img alt="Trek Route in Nepal" src="/userfiles/images/major%20trek%20routre.jpg" style="width: 298px; height: 185px;" /></div>',
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			'description' => 'Tourism flourishes in tranquility. It fructifies in those situations where tourists’ movement is not constricted by any internal or external factors.',
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			'article_category_id' => '175',
			'title' => 'GHT’s Great Endeavours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nyin Valley of Humla" src="/userfiles/images/NYIN%20VALLEY.jpg" style="width: 500px; height: 329px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Nyin Valley of Humla</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>--By Raju Baskota &amp; Bijay Raj Khanal</strong></p>
<div>
	&nbsp;</div>
<div>
	Humla is slowly increasing its interest towards tourism. This district doesn&rsquo;t even have access to roadways because of its remote geographical condition. Some of the villages of Humla including Simikot are benefited from tourism as they are the entrance to Mansarobar in Tibet. With the aim of developing tourism in the district, recently a new tourist destination Nyin Valley has been introduced. This new trekking route covers north-eastern area from Simikot providing various tourist destinations to the tourists. The masterplan of the project has already been prepared with the help of SNV and the promotional activities are being done rapidly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Department for International Development (DFID) has provided grant for the promotion of this Valley as branch trekking route of The Great Himalaya Trail (GHT). GHT has been identifying and promoting such trekking routes with the coordination of Ministry for Tourism, District Development Committee and Tourism Development Committee of related districts. The programmes conducted by GHT in various 16 districts have been promoting local tourism. Along with main trekking route, it also has been promoting new trekking routes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhavana Adhikari, Communications and Outreach Advisor at GHT said that they have been conducting five day tour package including remote VDCs of the district to promote the district as a whole. GHT has promoted the route from Simikot to Buraunse, Torpa, Nimatang, Ralingumba, Bargaun, Thehe and Khurpanath. As a part of promotion, first home stay in the district also has been started at Buraunse. Micro-entrepreneurship also is provided at all the places from where the trekking route passes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Jung Bahadur Lama, Marketing and Sales Director of Firante Treks and Expedition said that a proper tourism package is introduced for more effective results. But the area and districts for home stay has to be increased to conduct tourism package in the district. He said that the tasks of promotion of home stay as well as package formation from local tour agents have already been started.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Great Himalaya Trail has expanded from eastern region to far-western region covering 16 mountain districts. The starting of this trekking route was from Dolpa and Humla. For the promotion of the trekking trial of Humla, GHT has developed Nyin Valley trekking trail from Bar Gaun VDC to Raling Gumba. A five-day package has been prepared for the promotion of this place and an eight-day package is developed for the tourists going from Kathmandu to the village.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	At the same time, the introduction of Great Himalaya Trail has provided tourists with new experience of trekking and also endowed the people of Gorkha district with employment opportunities that have enhanced their living standard.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It&rsquo;s been long since the people of southern part of Gorkha district started moving to foreign countries seeking employment opportunities. Dil Bahadur Gurung, Principal of Dewalswara Primary School, Ghyachhok said, &ldquo;There are around 400 houses in Ghyachhok and the food produced here is sufficient only for 200 houses. The scarcity of food has led the people to the foreign countries.&rdquo; Rice doesn&rsquo;t grow in the area, and the local farmers focus only on traditional methods of farming. Prem Bahadur Gurung, one of the locals said that at least two to three members of a family have gone to foreign countries for employment.&nbsp;</div>
<div>
	According to 2011 census, more than 10 per cent, that is 28,104 people, of the population of this district, was out of the district and majority of them had gone for foreign employment. But the trend is reversing though slowly and the credit goes to the Great Himalaya Trail (GHT) that passes through this village. Dil Bahadur of Uhia VDC had gone to Qatar in search of employment, but now he has returned beck. His wife was running an inn in Khorla Besi some months ago, but now she has opened an inn at her own house. She said, &ldquo;I used to earn around Rs 20,000 &ndash; 25, 000 in Khorla Besi during tourist arriving seasons, but now the arrival of tourist is increasing in our own village and it is easier for me to work here.&rdquo; The locals of the VDC also have started vegetable farming. The tourists mainly arrive in two seasons yearly. October to December and March to May are considered as tourist arrival seasons here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dil Bahadur took cook training from SNV Nepal under the Great Himalaya Trail Development Programme after returning to Nepal. Now the couple is running the inn business and is self employed. Their inn is at seven hours walking distance from Laprak and since there are no other hotels on the way; they are doing a very good business. They are also planning to convert the inn into a Home Stay format. Along with Dil Bahadur, 90 other people of this district have received training from Great Himalaya Trail Development Programme and are in the process of being self employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Project has developed trekking trail from Siran Danda of Gorkha to Lamjung which has provided self employment opportunities to numerous people. According to the locals, the tourists trekking along this trail not only get to know about the culture and lifestyle of Himalayan region but also get to taste the local cuisines. The home stay system also arranges cultural programmes and ethnic dance for the entertainment of the tourists.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<p>
					&nbsp;</p>
				<p>
					<img alt="Laprak VDC of Gorkha" src="/userfiles/images/LAPRAK%20VDC.jpg" style="width: 500px; height: 285px;" /></p>
			</td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Laprak VDC of Gorkha</td>
		</tr>
	</tbody>
</table>
<div>
	The people of Gorkha district have direct income options after the introduction of the trail. As the number of tourists is increasing, 21 households have already started Home Stay services and three households are planning for the same. Manush Ghale, President of Local Home Stay Management Committee said that 900 foreign and domestic tourists have stayed on the village under the Home Stay system till now. She said that around 60 tourists had stayed in the first year, and gradually the number of tourists increased. Ghale stressed on further promotion of the trail as the people are earning money through home stay business, but they still are not able to sustain their livelihood solely from this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Foreigners are charged Rs 1000 and domestic tourists have to pay Rs 700 for accommodation and food for a day. The increasing number of tourists in the area has also increased the prospect of income and the people have started opened numerous inns as Laprak VDC is renowned as a village of guides. Five locals of the VDC have been running trekking agencies in Kathmandu and around 50 per cent of the youths have taken tourist guide profession in the village. Still this profession has not been growing commercially.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, Great Himalaya Trail has also started providing guide training. Raj Gurung, a Laprak local said that this training will help them to be a professional guide and the income source will also increase accordingly. Other local youth are also attracted towards this training.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Development Programme has provided skill development trainings to 62 locals, leadership development training to 91, trekking guide training to 25 and other capacity building training to 98 people till now. An information centre has also been established in Gorkha which helps tourists to get information about the tourist destination. The Programme also has been constructing bridges, foot trails, and drinking water projects in different place of the district. Also, it has been influencing the locals for proper utilization and promotion of the environment.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-09-01',
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			'keywords' => 'new business age tourism news & articles, tourism news & articles from new business age nepal, tourism headlines from nepal,  current and latest tourism news from nepal, economic news from nepal, nepali tourism economic news and events,  ongoing  tourism news of nepal',
			'description' => 'Some of the villages of Humla including Simikot are benefi ted from tourism as they are the entrance to Mansarobar in Tibet.',
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			'title' => 'NC Still Divided On Federal Set-up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party&rsquo;s Central Working Committee (CWC) meeting held on August 29 witnessed a debate on whether to adopt the 13-province or the seven-province federal model as proposed by vice-president Ram Chandra Poudel in the political report.</div>
<div>
	&nbsp;</div>
<div>
	A CWC member Mohammad Aftab Alam said that most members from the Madhes and ethnic communities are in favour of the 13-province model while others support the seven-province model.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The political report tabled in the last &lsquo;Mahasamiti Meeting&rsquo; held in Tribani of Nawalparasi on April 8 was endorsed in the CWC meeting after incorporating suggestions from delegates of the meeting as well as CWC members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party, however, has not finalised the model of federalism it is to adopt. The decision would be finalised by a committee led by vice-president Ram Chandra Poudel which was formed during the Mahasamiti Meeting. The Mahasamiti Meeting had delegated the resposibility to the committee to come up with a suitable federal structure after the party&rsquo;s jamboree failed to do so.</div>
<div>
	&nbsp;</div>
<div>
	Unlike the compromise made by the party for a mixed system of governance in the erstwhile Constituent Assembly, the NC in its report has said that it will adopt the parliamentary system this time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NC has said that the party&rsquo;s election manifesto will be drafted based on this report. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the party requested people to donate money for election expenses through its bank accounts. Issuing an appeal, the party has said its bank accounts have been opened in different parts of the country to make the donation transactions open and transparent.</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.',
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			'title' => 'New Business Age Publications SMS Keywords List',
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			'content' => '<p>
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">To See the Keywords List</span></strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For listing all SMS Keywords of Nubiz Publications: Type &#39;</strong>nubiznewskeywords<strong>&#39; send it to 2233 to see all the keywords on your mobile.</strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
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	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'For listing all SMS Keywords of Nubiz Publications: Type 'nubiznewskeywords' send it to 2233 to see all the keywords on your mobile.',
			'sortorder' => '1589',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1727',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="US GDP" src="/userfiles/images/gdp(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />US GDP Accelerates Sharply&nbsp;</span></strong></div>
<div>
	The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program. Gross domestic product grew at a 2.5 percent annual rate, according to revised estimates for the period that were released by the Commerce Department on Thursday. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="China Oil " src="/userfiles/images/coil.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />China Oil Giant Sinopec Buys into Egypt for $3.1 bln</span></strong></div>
<div>
	Chinese oil giant Sinopec will pay $3.1 billion for a one-third stake in the Egyptian oil and gas business of US firm Apache Corp. it said on Friday, as China builds up its access to global energy reserves. The deal, which is still subject to regulatory approval, marks Sinopec&rsquo;s first entry into Egypt&rsquo;s upstream oil and gas sector, according to a company statement.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Gold Drops Below $1,400" src="/userfiles/images/gold(2).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />Gold Drops Below $1,400</span></strong></div>
<div>
	Gold slid below $1,400 an ounce on Friday as the dollar rallied to a four-week high, with investors squaring positions at the end of the month and cashing in on a recent run-up ahead of a long U.S. holiday weekend. Spot gold eased 0.93 percent to $1,394.51 an ounce by after slipping to a session low of $1,392.06 an ounce. U.S. December gold futures lost $18.10 an ounce to $1,394.8 an ounce, down 1.28 percent.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="BRICS Agree" src="/userfiles/images/bricks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />BRICS Agree Capital Structure for Development Bank&nbsp;</span></strong></div>
<div>
	The BRICS bloc of large emerging economies have agreed on the capital structure for a proposed development bank that aims to reduce their reliance on Western financial institutions, a newspaper reported. Officials from Brazil, China, India, Russia and South Africa agreed to set up the bank with a total capital of $50 billion, shared equally among them, it quoted an unnamed senior Indian government official as saying. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Samsung" src="/userfiles/images/samsung(5).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 66px; width: 100px;" />Samsung Emerges as the Top supply chain Company in Asia Pacific</span></strong></div>
<div>
	Korean electronics major Samsung has been ranked at the top in IT research firm Gartner&rsquo;s list of 25 major performing supply chain organisations in Asia Pacific region. &nbsp;Chinese PC and mobile devices maker Lenovo bagged the second position, backed by impressive revenue growth and inventory turns, Gartner said.&nbsp;</div>',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.',
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	(int) 3 => array(
		'Article' => array(
			'id' => '1726',
			'article_category_id' => '138',
			'title' => 'Study Reveals Large, Untapped Potential For Water And Sanitation Services For The World’s Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="" src="/userfiles/images/ifc(2).jpg" style="width: 500px; height: 79px;" /></div>
<div>
	&nbsp;</div>
<div>
	Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector. &nbsp;A new report released by the World Bank&rsquo;s Water and Sanitation Program (WSP) and the International Finance Corporation (IFC) on August 29 finds that this will not only improve their livelihoods but is also an enormous market potential which waits to be tapped. &quot;Today, 2.5 billion people lack access to sanitation and at least 780 million people lack access to safe drinking water. &nbsp;Global estimates of economic losses from the lack of access to water and sanitation are estimated at US$260 billion every year,&quot; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The public sector alone cannot meet this massive challenge; if we want to end extreme poverty by 2030 and boost shared prosperity for the bottom 40%, we will have to scale up water and sanitation access,&rdquo; said WSP Manager Jae So. &nbsp;&ldquo;And to do that, both the public and private sector will need to work together.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the most striking findings of Tapping the Markets: Opportunities for Domestic Investments in Water and Sanitation for the Poor, is the enormous market potential. Focusing only on Bangladesh, Benin, and Cambodia, about 20 million people are projected to obtain their water from rural piped water schemes by 2025. That is 10 times the current number, a market worth at least US$90 million a year. On the sanitation side, there is a potential US$700 million Bottom of the Pyramid market in Bangladesh, Indonesia, Peru, and Tanzania. &nbsp;The current total market for improved on-site sanitation services in these four countries is estimated to be worth US$2.6 billion.</div>
<div>
	&nbsp;</div>
<div>
	The results of the study offer new solutions to prevent the thousands of daily child deaths and hundreds of billions of dollars in annual economic losses caused by lack of access to water and toilets. &nbsp;It takes a hard look at the challenges faced in tapping the business opportunities in developing countries by private firms willing to make the commitment to reaching the poorest people.</div>',
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			'description' => 'Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector.',
			'sortorder' => '1587',
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	(int) 4 => array(
		'Article' => array(
			'id' => '1725',
			'article_category_id' => '137',
			'title' => 'India Outpaces Japan To Become World’s 3rd Largest Internet User',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India surpassed Japan to become the world&rsquo;s third-largest Internet user, based on the size of its online population, behind only the U.S. and China. The growth highlights the potential of India&rsquo;s fast-growing e-commerce market, according to a report from global digital measurement and analytics firm ComScore.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Riding on a 31 per cent year-on-year increase, India&rsquo;s online population grew to 73.9 million. With an extended online universe in excess of 145 million the market is at a tipping point for online businesses. India is the world&rsquo;s third largest Internet population,&rdquo; the report said.The country overtook Japan by adding 17.6 million users in 2012, the ComScore report said.Of the total 644 million home and work Internet users in Asia-Pacific as of March 2013, China accounted for a lion&rsquo;s share of 54 per cent followed by India (11.5 per cent), Japan (11.4 per cent), Southeast Asia (9.6 per cent) and rest of APAC (13.5 per cent).On consumption, ComScore said that media fragmentation is occurring at light speed in today&rsquo;s multi-platform environment, which features not only computers, but smartphones, tablets, gaming platforms and a ever-increasing number of emerging devices.</div>
<div>
	&nbsp;</div>
<div>
	According to the study, India has the youngest skewing online population among BRIC countries, with 75 percent of its Internet users under the age of 35. &ldquo;Although the U.S. held 66 percent of the total global Internet audience in 1996, it now accounts for just 13 percent of the global online users, while the Asia-Pacific region accounted for 41 percent and Europe accounted for 27 percent of the global Internet users in 2012,&rdquo; the report states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, U.S. users spent the most time on the Internet with North Americans spending 37.2 hours, while users from Asia-Pacific spent just 17.2 hours, on an average, in a month. India&rsquo;s strong growth in its Internet audience -- at six times the global average growth rate &ndash; holds enormous opportunity for the country&rsquo;s e-marketers, which helps the country&rsquo;s e-commerce sector, which is estimated to reach $100 billion in size by 2015, according to estimates.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;While 60 percent of Web users in India visit online retail sites, time spent on shopping sites still has huge growth potential,&rdquo; the report said. India&rsquo;s online retail market grew more than 60 percent in 2012-2013, with the apparels market growing by 21 percent, ComScore said. Indian Internet users spent 25 percent of their online time in social networking websites, with 86 percent of the total audience visiting such sites in the last fiscal year. Facebook dominates the segment with 59.6 million user-visits and a 28 percent increase in the traffic. Entertainment and online video segments also witnessed exponential growth with 54 million users, in 2012-13. &ldquo;The online video audience in India grew an astounding 27 percent in the past year, and YouTube continues to be the top video property with more than 55 percent share,&rdquo; according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h5>
		&lsquo;Mobile internet fueling internet population growth in Nepal&rsquo;</h5>
	<div>
		In line with the global surge, Nepal is also witnessing a staggering growth of internet population. According to a report published by Nepal Telecom Authority (NTA) in July, over 25 per cent of Nepali citizens have access to internet connection. &ldquo;As of mid-July (last fiscal year), Nepal&rsquo;s internet penetration rate reached 26.10 per cent of the total population against the rate of 19 per cent in the same period of last year,&rdquo; the report states.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		The report informed that the total number of internet users has reached 6.91 million.&nbsp;</div>
	<div>
		The robust use of internet is fueled by mobile internet, sub-broadband and high speed services such as WiMax. However, the high speed 3G wireless mobile network is seen as the main driving factor of internet population growth in Nepal. &ldquo;Out of total subscribers, 6 million users surf the world wide web through their mobile devices,&rdquo; reads the NTA report. The sharp rise in the availability of low-cost smartphone handsets and competitive bandwidth prices are seen as factors attracting internet users. Furthermore, the appeal of social media is also considered as another major element which contributes to the rise of internet users. In July, commercial web traffic data provider Alexa Internet Inc, a subsidiary of Amazon.com, ranked Facebook as the most popular website among Nepali internet users. The company also ranked Twitter and Linkedin in 12th and 13th place in Nepal respectively.</div>
	<div>
		&nbsp;</div>
</div>
<p>
	&nbsp;</p>',
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			'modified' => '2013-09-10',
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			'description' => 'India surpassed Japan to become the world’s third-largest Internet user, based on the size of its online population, behind only the U.S. and China.',
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	(int) 5 => array(
		'Article' => array(
			'id' => '1724',
			'article_category_id' => '135',
			'title' => 'Auto Oil Pricing Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The hostility of the oil price hyping continues to threaten the economic social development rights of the people. This tends to effect more to the 80 per cent of the working class, middle class, and the people living below the threshold level least effecting the 20 per cent of the elite who continue to consume almost 60 per cent&nbsp;</span><span style="font-size: 14px;">of the national &nbsp;income. This augmentation on oil price is not only effecting the oil consumer but has even devastating effect on the poor when the price of all other basic necessities hype to a greater level but there is no shift in the income level of the 80 per cent even if there is least possibility.</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Saroj Pandey, Former president, Nepal Petroleum Dealers’ Association (NPDA)" src="/userfiles/images/dsp.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 229px;" />Saroj Pandey</span></strong></div>
<div>
	<span style="font-size:14px;"><em>Former president, Nepal Petroleum Dealers&rsquo; Association (NPDA)</em></span></div>
<div>
	&nbsp;</div>
<div>
	One of the major reasons behind the oil pricing mechanism is the oil politics, the bigger picture lies behind the veil that is reluctance of both political parties and the National Oil Corporation (NOC). The NOC being one of the biggest pitch for corruption, this extreme incompetence of the two sides is leading the country towards black hole of economic detriment. The reluctance can be seen, after facing so many oil crisis and dispute. The NOC has not been able to set any petroleum regulatory mechanism nor does the government have it been able to bring any sort of law and act regarding petroleum distribution and regulation. This incompetence of the government and the NOC is leading frustration among the people and also among private investors. This mismanagement of corporation and constant oppression to the people will have to come to an end. &nbsp;If they cannot run the country and the corporation they will have to raise their hands to surrender the oil pricing mechanism to the market forces. There I suggest the Government to wash their hands off the dirty politics and the private investor to maintain their ethics and give justice to this crisis.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deepak Subedi,Spokesperson, Ministry of Commerce and Supplies " src="/userfiles/images/ds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 232px;" />Deepak Subedi</span></strong></div>
<div>
	<em><span style="font-size:14px;">Spokesperson, Ministry&nbsp;</span><span style="font-size: 14px;">of Commerce and Supplies&nbsp;</span></em></div>
<div>
	&nbsp;</div>
<div>
	The budget has clearly decided to take on the auto pricing mechanism and the government is slowly moving toward the required policy formation to adopt the system, it is a gradual process because if the prices are abruptly left on the auto mechanism there would be rapid growth of inflation which could make the situation even more chaotic. Looking at the past, the previous governments had constantly tried to raise the price of the oil, which led to protest. Then the government was forced to revoke those decisions immediately. But this government &nbsp; seems committed and is looking for a long term solution .Because of the over hiking debts this government has decided cut subsides.</div>',
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			'created' => '2013-09-02',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The hostility of the oil price hyping continues to threaten the economic social development rights of the people.',
			'sortorder' => '1585',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1723',
			'article_category_id' => '134',
			'title' => '‘Comprehensive Strategy Needed For Hydropower Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Yasing Zhang,Senior Vice President of Sinohydro Resources Ltd, " src="/userfiles/images/yz.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 184px;" />Yasing Zhang</strong> is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. In a tete-e-tete with <strong>Sanjeev Sharma</strong> of The Corporate, he expresses his plan to tap hydropower potential in Nepal.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Power Summit&nbsp;</span></strong></div>
<div>
	I think, the Power Summit 2013 organised by the Independent Power Producers Association of Nepal (IPPAN) has provided a platform for investors, policy makers and stakeholders to freely express their views and to discuss various topics regarding the hydropower sector. I believe that the discussions helped iron out major hassles prevailing in the sector. In this regard, the Power Summit 2013 has successfully achieved its goal to hasten the pace of hydropower development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">FDI in the Hydropower</span></strong></div>
<div>
	As an investor, we feel that there is an absence of preferential and privilege policies to attract foreign investment in Nepali hydropower projects. There are no incentives in terms of taxes for foreign investors. The tax burden created from provisions of contract tax and value added tax (VAT) is putting pressure on the developers. The absence of proper insurance policies pertaining to hydropower has also been hindering foreign investment. Investments in projects are always at risk in case of natural disaster or big technical failures if there are no proper insurance policies in place.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;It is necessary to formulate investment-friendly policies to attract Foreign Direct Investment (FDI). Thus, policy makers should harmonise existing laws.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems for Investors</span></strong></div>
<div>
	Nepal has tremendous hydropower potential. But the country has yet to tap its potential due to several problems mostly linked to project licensing, technical issues as well as legal hurdles. I think the Nepal government should be ready to relax existing hassles on agreement and licensing to ensure timely service delivery. In Nepal, there is no procedure in accordance with international standards to issue Project Development Agreements (PDA), which slows the pace of project development and adversely affects the sentiment of developers. The initial survey licenses of various major projects are held by domestic/foreign developers for several years or even decades. Similarly, there are also issues regarding Power Purchase Agreements (PPA). The fluctuation in foreign exchange rate makes things difficult for power developers as they are more likely to face loss in selling the electricity they generate. These issues should be addressed first hand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are several infrastructure-related constraints. Poor roads, lack of transmission lines, difficulties in conducting projects in remote areas and insufficient supply of construction materials and equipments are other problems in developing a project here. &nbsp;Likewise, awarding a single river basin to many contractors is also adding complications. Some social and political influences such as frequent protests and strikes against particular projects and inadequacy of local skilled staffs are other contributing factors.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Solutions to the Existing Hassles</span></strong></div>
<div>
	Effective policies are needed to solve all aforementioned problems. Developing common standards and procedures concerning hydropower investment will also have positive impact. A common standard and procedures should address issues regarding contract and licenses, company registration, bank account opening and control of foreign currency. Issues regarding the holding of initial license can be solved by cooperation with or transferring from the initial license holder. As far as PDA and PPA are concerned, the government should follow procedures in line with international standards.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is an exigency in preferential policy provision on hydropower investments. This includes duty exemption and tax reduction on raw materials, construction equipments, vehicles, and the income of power developers. Convenience on custom clearance and flexibility in work visa will also boost the morale of foreign investors. There are several issues regarding land acquisition by the projects. This issue could be solved by issuing instructive principles of land acquisition. Establishing a general administration on land acquisition and transfer capable of providing guiding land price in different regions and project areas will be the first right step. Secondly, simplifying the land acquisition and transfer procedure is also necessary.</div>
<div>
	&nbsp;</div>
<div>
	One-stop service of hydropower development can deliver effective solutions. For that, the government should set-up a stable and comprehensive agency responsible for hydropower administration in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Water Resource Management&nbsp;</span></strong></div>
<div>
	Hydropower development is directly linked to water resource management. If properly managed, the water resource of a single project can be used for various purposes. For this, Nepal needs to identify pilot projects. Those projects should be fairly large enough in terms of power generation. This will help focus efforts in hydropower development. Apart from electricity generation, such projects may also provide water for irrigation and drinking.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Sinohydro&rsquo;s Plan&nbsp;</span></strong></div>
<div>
	Sinohydro Resources Limited is the overseas investment window of Power Construction Corporation of China (Power China). We have been in overseas investment business since 2004 with a registered capital of USD 400 million. We entered the Nepali market in 1995 and successfully accomplished six major hydropower, irrigation and infrastructure projects since then. The Ilam Hydroelectric Project, Modi Hydroelectric Project, Sikta Irrigation Project Phase 1, Sunsari-Morang Irrigation Project, and Bagmati Irrigation Project were handed over to the Nepal government after completion. Similarly, we upgraded the Tansen-Tamghas road project. Currently, Sinohydro is engaged in civil works of Kulekhani 3 and Upper Tamakoshi. Likewise, the 50MW Upper Marsyangdi &lsquo;A&rsquo; hydropower project is being developed with our investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Nepal should Take Advantages</span></strong></div>
<div>
	Nowadays, trading of surplus power is becoming a lucrative trade in the world. Nepal can earn substantial amount of money from such trading. I suggest the government and concerned authorities to formulate a master plan of power consumption. The plan should assess domestic requirements and power for export. Similarly, the establishment of a nationwide transmission network is also necessary for electricity export.&nbsp;</div>',
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			'description' => 'Yasing Zhang is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. I',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1722',
			'article_category_id' => '152',
			'title' => 'Focus Briefs (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">Banks and Promoters at Loggerheads over Property Evaluation: Governor</span></strong></div>
<div>
	Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other. While addressing the Power Summit, Khatiwada said, &ldquo;The banks say that the promoters tend to inflate the equity amount of the projects, while the promoters blame the banks for under evaluating the asset while financing their projects.&rdquo; Shedding light on the risk aversion issue in the hydropower sector investment, he advised both the parties to build confidence rather blaming each other for the problem. The central bank governor also opined that the project developers should include the risk of exchange rates in the project analysis and financial appraisal instead of seeking risk guarantee from the government on foreign investment.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Strike at Upper Madi Hydropower Project</span></strong></div>
<div>
	Nearly 90 Nepali workers went on a strike at Upper Madi-hydropower at Sildujure in Kaski after their demand for pay as per the international labour organizations went on deaf ears. Most of the protesters include drivers, operators, labourers, and welders. Vice-chairperson of Workers&rsquo; Committee&rsquo;s Guna Prasad Baral said, &ldquo;We were forced to take this decision after the contractor did not pay any heed to their twenty-point demand that we put forth.&rdquo; Their demands include reduction of duty hours, over-time allowance, Dashain bonus and work place security, among others. Later a meeting between the agitating parties and the management committee was held but it ended inconclusively. &ldquo;There is no work environment at the construction site. No allowance or other facilities are provided to drivers. We have to wear the same pair of shoes, that don&rsquo;t last even for 15 days, for more than six months and we don&rsquo;t even have a toilet,&rdquo; Baral said. Meanwhile, Pas Bahadur Bastola, undersecretary of stakeholder&rsquo;s committee expressed solidarity with the workers&rsquo; agitation. As many as 100 Chinese nationals are working in the project. The hydro project, with a capacity of 25 MW, was initiated with the joint investment of Chinese Three Georges and Nepal&rsquo;s private sector. It had started on December 29 in 2012 with completion time of 28 months. The estimated cost of the project is Rs 5.28 billion and it was supposed to be completed by April 2015.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Exploring Possibilities in Hydro Sector</span></strong></div>
<div>
	The politicians participating in the power summit 2013 threw support for &ldquo;integration of power markets&rdquo; of Nepal, China and India &ldquo;for the benefit of everyone in the region&rdquo;. Although Nepal is said to have a potential of producing 83,000MW of hydroelectricity from its rivers, the country so far has been able to tap less than 800MW of that. As a result, hours-long power outage has become a norm in the country, which is affecting production at various industries and hindering country&rsquo;s economic development. &ldquo;Water resources need to be exploited to achieve higher growth rates. If we cannot do this the country&rsquo;s dream of graduating to the grouping of developing nations, will only remains a pipe dream,&rdquo; said Radhesh Pant, CEO of the Investment Board, which oversees implementation hydro projects of over 500MW, among others.</div>',
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			'description' => 'Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other.',
			'sortorder' => '1583',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
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			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
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		'Article' => array(
			'id' => '1720',
			'article_category_id' => '160',
			'title' => 'Corptoon Vol 3 Issue 29',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-01',
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			'description' => 'Corptoon',
			'sortorder' => '1581',
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	(int) 10 => array(
		'Article' => array(
			'id' => '1719',
			'article_category_id' => '91',
			'title' => '157.8 Million Shares Listed In NEPSE',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Securities Board of Nepal (SEBON) has provided all kinds of share issuance permits up to Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO shares up to Rs 3.51 billion to 23 companies, right shares up to Rs 3.94 billion to 5 companies, bonus shares up to Rs 4.60 billion to 52 companies and bond issuance up to Rs 3.15 billion to 7 companies. There is a possibility of these shares being listed in NEPSE for transaction in the current fiscal year which ensures the expansion of share markets in comparison to the previous fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Market Size Increased by 40pc</strong></div>
<div>
	Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-2013. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011-2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-2013. &nbsp;According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies, share and investors within this year. He also said the operation of essential infrastructures of share market like CDS &amp; Clearing and mutual funds also helped to increase the market size. Poudyal added, &ldquo;The investors are also increasing lately with the continuity of share market activities.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Transaction Rate Doubled</strong></div>
<div>
	The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-2012. The share transaction was of Rs 10.27 billion in FY 2011-2012 which has reached up to Rs 22.4 billion in FY 2012-2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Listed Companies Reached 230</strong></div>
<div>
	The number of listed companies in the previous fiscal year has reached 230. Among the listed companies, there are 198 bank and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 commercial organisations, 4 hydro power companies and 2 other groups. &nbsp;There were 216 listed companies in FY 2011-2012.&nbsp;</div>',
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			'created' => '2013-09-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE.',
			'sortorder' => '1580',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1718',
			'article_category_id' => '91',
			'title' => 'Devaluating Rupee Costs Industries Dearly',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though Nepal Oil Corporation (NOC) has not hiked the price of petroleum products due to the sharp fall of the Rupee, NOC cannot withhold the loss incurred in petroleum products for a long time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Nepali Rupee plunged as low as Rs 108 last week against a unit price of the US Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Industrialists lament that they will have to suffer badly due to the price hike of petroleum products resulting from the free-fall of local currency against the Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Pashupati Murarka, vice-president of Federation of Nepal Chambers of Commerce and Industry, says that the government will be left with only two choices. According to him, the government either has to provide more subsidies to NOC to keep the price of petroleum products unchanged, or it has to adjust the price of petroleum products. &nbsp;&ldquo;Either way, it would take a toll in Nepal&rsquo;s crippling economy, particularly industries,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Currently, NOC is reeling under a heavy loss. According to the NOC officials, the corporation incurred a loss of Rs 1.62 billion last month. While unveiling the budget for FY 2013-14, the government said it would adopt the auto price mechanism to adjust the price of petroleum products with the international market.</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s industries are now relying heavily on diesel to meet energy demands due to extreme daily power outage. At present, the demand and supply gap hovers around 300MW, with a demand of 900MW demand against a 450MW supply.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The price hike in petroleum products following the depreciation of the Nepali Rupee, pegged with the Indian currency, would have an adverse impact on the cost of manufacturing products. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Murarka estimated that Re 1 increase in diesel per litre would raise the cost of electricity of the industry by 0.30 paisa per unit. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if the government comes up with subsidies to save the NOC from a heavy loss, short supply will create problems for factories that are already battered with regular power cuts,&rdquo; says Murarka, warning that such short supply could also lead to black marketing of petroleum products.</div>
<div>
	&nbsp;</div>
<div>
	The import of petroleum products only accounted for Rs 107 billion out of total import bill of Rs 257.66 billion for 10 commodities from India in FY 2012-13. In FY 2011-12, the petroleum import bill was at Rs 92.25 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Ministry of Finance Chief Advisor Dr Chiranjibi Nepal, the country&rsquo;s total export amount is not even adequate to foot the bill of petroleum alone.</div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<ul>
						<li>
							<strong>Devaluation of the Rupee will hike petroleum price</strong></li>
						<li>
							<strong>Price hike in petroleum will have adverse impact on manufacturing costs</strong></li>
						<li>
							<strong>Govt subsidies not likely to alleviate inflation&nbsp;</strong></li>
						<li>
							<strong>Industrial sector is now relying heavily on diesel for power generation</strong></li>
					</ul>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1717',
			'article_category_id' => '182',
			'title' => 'Secure Investment Should Be Guaranteed For Funding',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Debate of Month" src="/userfiles/images/debate.jpg" style="width: 500px; height: 376px;" /></div>
<div>
	<strong>--By Sweta Sharma&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">There are multiple factors that have limited our economy&rsquo;s growth in the past few years, the most important being poor investment in mega projects that provide &ldquo;Big Push&rdquo; for development. Frequent changes in the government&rsquo;s plan and policies hamper the flow of investment in the country. As a result, Nepal does not to attract enough foreign investors. What can be done? Here are views from some experts :</span></div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Subarna Das Shrestha ,President Independent Power Producers’ Association, Nepal (IPPAN)" src="/userfiles/images/sds(1).jpg" style="width: 175px; height: 192px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Subarna Das Shrestha</strong></div>
									<div>
										<em>President</em></div>
									<div>
										<em>Independent Power Producers&rsquo;</em></div>
									<div>
										<em>Association, Nepal (IPPAN)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Mega projects are big projects that need huge investments for operation. Investors require a stable policy but the Nepali government is not able to form strong policies for mega projects. Before investing in a mega project, investors would compare the benefits from investing in Nepal or in other countries. The frequent change in government policy in Nepal had affected the terms and conditions of issuing a license. since the license for a mega project, such as in hydropower is a long period, such as for 35 years, want security of their investment for equally long period.&nbsp;</div>
					<div>
						<div>
							&nbsp;</div>
						<div>
							Private sector investment could be of great help in funding mega projects. But this year, the budget only focused on public projects. This gives reason to worry. As for funding from banks, the main issue would be loan financing. Banks provides 70-80 percent of the project cost as loan and they want loan protection. The government, on the other hand, seems to be very slow in the development of mega projects.&nbsp;</div>
						<div>
							A proper land acquisition policy should be implemented for smooth implementation of mega projects. The Foreign Investment and Technology Transfer Act is also not investor-friendly. Thus, the Project Development Agreement (PDA) that the developer has to sign with the goverment should be bankable and internationally accepted. PDA could be the overall solution for funding mega projects in Nepal either for domestic investment or foreign investment. Recently, IPPAN proposed a PDA to the government on 7th July, 2013 and government seems positive regarding it.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gyanendra Lal Pradhan Chairperson Energy Committee of FNCCI" src="/userfiles/images/glp.jpg" style="width: 200px; height: 209px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gyanendra Lal Pradhan</strong></div>
									<div>
										<em>Chairperson</em></div>
									<div>
										<em>Energy Committee of FNCCI</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Nepal does not have the capacity to run mega projects. Environment for investment is not quite favorable and it is difficult to attract investors. The main problem is, there is an internal conflict in both the government and the private sector. The policies are not clear about funding mega projects from different sources. Time and again policies get changed with the change in government. This has definitely made it difficult to attract foreign investors. Nepal&rsquo;s government still lacks willingness to provide safety to investment. The bank alone is not able to fund mega projects as it needs huge investment and on top of that Central Bank has increased the paid up capital requirment for banks. In this situation, we cannot expect from banks to contribute in mega projects. Though the budget for fiscal year 2013/14 said it has given emphasis on energy sector, it still is not reasonable. Government has yet failed to meet the expectations of energy sector to bring special programmes. The country needs some concrete programmes when it is going through such severe energy crisis. In this situation, government should be able to involve private sector to fund mega projects considering their demands and suggestions.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Madhu Bhetuwal Department of Electricity Development Senior Divisional Engineer (SDE)" src="/userfiles/images/mb.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Madhu Bhetuwal</strong></div>
									<div>
										<em>Department of Electricity</em></div>
									<div>
										<em>Development</em></div>
									<div>
										<em>Senior Divisional Engineer (SDE)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						The main hurdle to fund mega projects and hydro projects is political instability. Nepal is experiencing the political chaos since long. Instability in politics have led to hurdles in forming concrete policies. As long as Nepal does not have firmed policies regarding investments, investors will never be interested in any mega projects. Talking about Nepal&rsquo;s experience regarding policies, it is yet not consistent. In this context, government should be able to bring long term plans and programmes to maintain the consistency in mega projects operation. Next issue is that of income tax. It is not clear what income tax rate will be after 2015. It is natural that general public are not inclined to invest in mega projects as there is no mechanism to secure the investments. So, it is must to establish a safer mechanism to attract funds from general public. There exists the confusion about who is to supervise the hydro projects by Ministry of Energy or Investment Board. Thus, this confusion too should be cleared. Similarly, talking about the hydro projects, there is difference in royalty of Electricity Policy and Electricity Act. The Act has a provision for lower royalty whereas the policy has a provision for higher royalty. This too has created problem in investment which needs to be cleared soon. The projects should be supervised by one body so that there won&rsquo;t be any problems in running any mega project.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Radhesh Pant CEO Nepal Investment Board" src="/userfiles/images/rp.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Radhesh Pant</strong></div>
									<div>
										<em>CEO</em></div>
									<div>
										<em>Nepal Investment Board</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<div>
							Present legal hurdles for funding of mega projects in Nepal in terms of getting funds from banks, non-banking organization, foreign investors and general public are:&nbsp;</div>
						<div>
							&bull; Non-recourse financing is difficult to obtain because BAFIA requires&nbsp;</div>
						<div>
							collateral / security for any lending by financial institutions (Banks, Finance companies, Insurance);&nbsp;</div>
						<div>
							&bull; Inability of current Financial Institutions to raise funds outside of&nbsp;</div>
						<div>
							retail deposits;&nbsp;</div>
						<div>
							&bull; Single Obligor Limits (SOL) and Sectorial limits mandated by NRB regulations;&nbsp;</div>
						<div>
							&bull; Not necessary a legal hurdle, but there is a lack of depth in Nepal&rsquo;s financial instruments and products with an active secondary market for such instruments.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							In my opinion, these legal hurdles can be removed by adopting the following measures:&nbsp;</div>
						<div>
							&bull; Create a new class of financial institutions that would be allowed to lend on a non-recourse basis with new set of guidelines on SOL and sectoral limits;&nbsp;</div>
						<div>
							&bull; Regulations to create and foster confidence in active secondary markets for fixed income securities and other financial instruments to finance large infrastructure projects</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'created' => '2013-09-01',
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			'description' => 'There are multiple factors that have limited our economy’s growth in the past few years, the most important being poor investment in mega projects that provide “Big Push” for development.',
			'sortorder' => '1578',
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		'Article' => array(
			'id' => '1716',
			'article_category_id' => '175',
			'title' => 'Tourism: Ready To Take Off Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Tourism Nepal" src="/userfiles/images/tourism.jpg" style="width: 500px; height: 257px;" /></div>
<div>
	&nbsp;</div>
<div>
	Tourism flourishes in tranquility. It fructifies in those situations where tourists&rsquo; movement is not constricted by any internal or external factors. Thus, political instability is proved to be the biggest hindrance for the smooth operation of tourism industry in Nepal. But Nepal is gradually emerging from the situation of political instability and uncertainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The tourism industry of Nepal has not yet tapped to the possible opportunities as Nepal&rsquo;s nature-based tourism can offer a lot to visitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal witnessed the positive sign by the total tourist arrivals in 2012 figuring 598,204 which is 53,219 more visitors compared to 2011. The year 2012 has concluded with positive notes both in terms of total visitor arrivals for the month of December and also for the whole year, according to Nepal Tourism Board (NTB).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to statistics of Nepal Tourism Board (NTB), a total of 598,204 foreign tourists entered the country via aerial route in 2012. Nepal welcomed around 161,000 European tourists in 2012, according to the statistics. The statistics shows total arrivals from Asia, other than South Asia, grew by 15.1 percent during in 2012. The statistics of 2012 also show that 12.97% tourists visited Nepal for the purpose of trekking. Similarly, 3.85% visited for official purpose, 3.11% for business, 12.76% for religion, 4.09 for leisure, 0.62% for mountaineering, 1.71% for conventions and exhibition, 0.21% for rafting, 4.3% for travel, 2.36% for research and 3.69% for other purposes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Tourist Inflow Nepal" src="/userfiles/images/tourist%20inflow.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 153px;" />The statistics show glimpses of possibilities for a bright future of tourism.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent between 2011 and 2012. A total of 7, 36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent in 2012.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotels in Nepal" src="/userfiles/images/no%20of%20hotels.jpg" style="width: 238px; height: 185px;" />&nbsp;&nbsp;<img alt="Trek Route in Nepal" src="/userfiles/images/major%20trek%20routre.jpg" style="width: 298px; height: 185px;" /></div>',
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			'description' => 'Tourism flourishes in tranquility. It fructifies in those situations where tourists’ movement is not constricted by any internal or external factors.',
			'sortorder' => '1577',
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			'id' => '1715',
			'article_category_id' => '175',
			'title' => 'GHT’s Great Endeavours',
			'sub_title' => '',
			'summary' => null,
			'content' => '<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<img alt="Nyin Valley of Humla" src="/userfiles/images/NYIN%20VALLEY.jpg" style="width: 500px; height: 329px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Nyin Valley of Humla</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>--By Raju Baskota &amp; Bijay Raj Khanal</strong></p>
<div>
	&nbsp;</div>
<div>
	Humla is slowly increasing its interest towards tourism. This district doesn&rsquo;t even have access to roadways because of its remote geographical condition. Some of the villages of Humla including Simikot are benefited from tourism as they are the entrance to Mansarobar in Tibet. With the aim of developing tourism in the district, recently a new tourist destination Nyin Valley has been introduced. This new trekking route covers north-eastern area from Simikot providing various tourist destinations to the tourists. The masterplan of the project has already been prepared with the help of SNV and the promotional activities are being done rapidly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Department for International Development (DFID) has provided grant for the promotion of this Valley as branch trekking route of The Great Himalaya Trail (GHT). GHT has been identifying and promoting such trekking routes with the coordination of Ministry for Tourism, District Development Committee and Tourism Development Committee of related districts. The programmes conducted by GHT in various 16 districts have been promoting local tourism. Along with main trekking route, it also has been promoting new trekking routes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhavana Adhikari, Communications and Outreach Advisor at GHT said that they have been conducting five day tour package including remote VDCs of the district to promote the district as a whole. GHT has promoted the route from Simikot to Buraunse, Torpa, Nimatang, Ralingumba, Bargaun, Thehe and Khurpanath. As a part of promotion, first home stay in the district also has been started at Buraunse. Micro-entrepreneurship also is provided at all the places from where the trekking route passes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Jung Bahadur Lama, Marketing and Sales Director of Firante Treks and Expedition said that a proper tourism package is introduced for more effective results. But the area and districts for home stay has to be increased to conduct tourism package in the district. He said that the tasks of promotion of home stay as well as package formation from local tour agents have already been started.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Great Himalaya Trail has expanded from eastern region to far-western region covering 16 mountain districts. The starting of this trekking route was from Dolpa and Humla. For the promotion of the trekking trial of Humla, GHT has developed Nyin Valley trekking trail from Bar Gaun VDC to Raling Gumba. A five-day package has been prepared for the promotion of this place and an eight-day package is developed for the tourists going from Kathmandu to the village.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	At the same time, the introduction of Great Himalaya Trail has provided tourists with new experience of trekking and also endowed the people of Gorkha district with employment opportunities that have enhanced their living standard.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It&rsquo;s been long since the people of southern part of Gorkha district started moving to foreign countries seeking employment opportunities. Dil Bahadur Gurung, Principal of Dewalswara Primary School, Ghyachhok said, &ldquo;There are around 400 houses in Ghyachhok and the food produced here is sufficient only for 200 houses. The scarcity of food has led the people to the foreign countries.&rdquo; Rice doesn&rsquo;t grow in the area, and the local farmers focus only on traditional methods of farming. Prem Bahadur Gurung, one of the locals said that at least two to three members of a family have gone to foreign countries for employment.&nbsp;</div>
<div>
	According to 2011 census, more than 10 per cent, that is 28,104 people, of the population of this district, was out of the district and majority of them had gone for foreign employment. But the trend is reversing though slowly and the credit goes to the Great Himalaya Trail (GHT) that passes through this village. Dil Bahadur of Uhia VDC had gone to Qatar in search of employment, but now he has returned beck. His wife was running an inn in Khorla Besi some months ago, but now she has opened an inn at her own house. She said, &ldquo;I used to earn around Rs 20,000 &ndash; 25, 000 in Khorla Besi during tourist arriving seasons, but now the arrival of tourist is increasing in our own village and it is easier for me to work here.&rdquo; The locals of the VDC also have started vegetable farming. The tourists mainly arrive in two seasons yearly. October to December and March to May are considered as tourist arrival seasons here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dil Bahadur took cook training from SNV Nepal under the Great Himalaya Trail Development Programme after returning to Nepal. Now the couple is running the inn business and is self employed. Their inn is at seven hours walking distance from Laprak and since there are no other hotels on the way; they are doing a very good business. They are also planning to convert the inn into a Home Stay format. Along with Dil Bahadur, 90 other people of this district have received training from Great Himalaya Trail Development Programme and are in the process of being self employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Project has developed trekking trail from Siran Danda of Gorkha to Lamjung which has provided self employment opportunities to numerous people. According to the locals, the tourists trekking along this trail not only get to know about the culture and lifestyle of Himalayan region but also get to taste the local cuisines. The home stay system also arranges cultural programmes and ethnic dance for the entertainment of the tourists.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<p>
					&nbsp;</p>
				<p>
					<img alt="Laprak VDC of Gorkha" src="/userfiles/images/LAPRAK%20VDC.jpg" style="width: 500px; height: 285px;" /></p>
			</td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Laprak VDC of Gorkha</td>
		</tr>
	</tbody>
</table>
<div>
	The people of Gorkha district have direct income options after the introduction of the trail. As the number of tourists is increasing, 21 households have already started Home Stay services and three households are planning for the same. Manush Ghale, President of Local Home Stay Management Committee said that 900 foreign and domestic tourists have stayed on the village under the Home Stay system till now. She said that around 60 tourists had stayed in the first year, and gradually the number of tourists increased. Ghale stressed on further promotion of the trail as the people are earning money through home stay business, but they still are not able to sustain their livelihood solely from this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Foreigners are charged Rs 1000 and domestic tourists have to pay Rs 700 for accommodation and food for a day. The increasing number of tourists in the area has also increased the prospect of income and the people have started opened numerous inns as Laprak VDC is renowned as a village of guides. Five locals of the VDC have been running trekking agencies in Kathmandu and around 50 per cent of the youths have taken tourist guide profession in the village. Still this profession has not been growing commercially.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, Great Himalaya Trail has also started providing guide training. Raj Gurung, a Laprak local said that this training will help them to be a professional guide and the income source will also increase accordingly. Other local youth are also attracted towards this training.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Development Programme has provided skill development trainings to 62 locals, leadership development training to 91, trekking guide training to 25 and other capacity building training to 98 people till now. An information centre has also been established in Gorkha which helps tourists to get information about the tourist destination. The Programme also has been constructing bridges, foot trails, and drinking water projects in different place of the district. Also, it has been influencing the locals for proper utilization and promotion of the environment.</div>
<div>
	&nbsp;</div>',
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			'created' => '2013-09-01',
			'modified' => '0000-00-00',
			'keywords' => 'new business age tourism news & articles, tourism news & articles from new business age nepal, tourism headlines from nepal,  current and latest tourism news from nepal, economic news from nepal, nepali tourism economic news and events,  ongoing  tourism news of nepal',
			'description' => 'Some of the villages of Humla including Simikot are benefi ted from tourism as they are the entrance to Mansarobar in Tibet.',
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			'id' => '1729',
			'article_category_id' => '140',
			'title' => 'NC Still Divided On Federal Set-up',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party&rsquo;s Central Working Committee (CWC) meeting held on August 29 witnessed a debate on whether to adopt the 13-province or the seven-province federal model as proposed by vice-president Ram Chandra Poudel in the political report.</div>
<div>
	&nbsp;</div>
<div>
	A CWC member Mohammad Aftab Alam said that most members from the Madhes and ethnic communities are in favour of the 13-province model while others support the seven-province model.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The political report tabled in the last &lsquo;Mahasamiti Meeting&rsquo; held in Tribani of Nawalparasi on April 8 was endorsed in the CWC meeting after incorporating suggestions from delegates of the meeting as well as CWC members.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The party, however, has not finalised the model of federalism it is to adopt. The decision would be finalised by a committee led by vice-president Ram Chandra Poudel which was formed during the Mahasamiti Meeting. The Mahasamiti Meeting had delegated the resposibility to the committee to come up with a suitable federal structure after the party&rsquo;s jamboree failed to do so.</div>
<div>
	&nbsp;</div>
<div>
	Unlike the compromise made by the party for a mixed system of governance in the erstwhile Constituent Assembly, the NC in its report has said that it will adopt the parliamentary system this time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The NC has said that the party&rsquo;s election manifesto will be drafted based on this report. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Meanwhile, the party requested people to donate money for election expenses through its bank accounts. Issuing an appeal, the party has said its bank accounts have been opened in different parts of the country to make the donation transactions open and transparent.</div>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Though the previous Constituent Assembly was dissolved following the failure of political parties to agree on the issue of federalism, Nepali Congress (NC), the second largest party of the previous CA, is yet to agree upon a common federal structure within the party.',
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			'title' => 'New Business Age Publications SMS Keywords List',
			'sub_title' => '',
			'summary' => null,
			'content' => '<p>
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">To See the Keywords List</span></strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For listing all SMS Keywords of Nubiz Publications: Type &#39;</strong>nubiznewskeywords<strong>&#39; send it to 2233 to see all the keywords on your mobile.</strong></span></p>
<p>
	&nbsp;</p>
<p style="text-align: left;">
	<a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">तपाईको मोबाईलमा नेपाली अक्षर बुझिँदैन ? यस्तो गर्नुस्</a><span style="font-size: small;"><strong><span style="text-decoration: underline;"><a href="http://www.abhiyan.com.np/article-mobile_14bhadra2070_mobilenepalifont#.UiBrd3-_41k">&nbsp; </a>(click here)<br />
	<br />
	<br />
	Abhiyan News Keywords</span></strong></span></p>
<p style="text-align: left;">
	<span style="font-size: small;"><strong>For receiving Abhiyan Front Page Headlines - Type &#39;</strong>abhinews<strong>&#39; send it to 2233<br />
	<br />
	For </strong></span><span style="font-size: small;"><strong>receiving</strong></span><span style="font-size: small;"><strong> Abhiyan Rajniti News Headlines&nbsp; - Type &#39;</strong>abhirajnitinews<strong>&#39; send it to 2233</strong></span></p>
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	<span style="font-size: small;"><strong><span style="text-decoration: underline;">New Business Age News </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
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<p>
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<p style="text-align: left;">
	<span style="font-size: small;"><strong><span style="text-decoration: underline;">The corproate Weekly </span></strong></span><span style="font-size: small;"><strong><span style="text-decoration: underline;">Keywords</span></strong></span></p>
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	&nbsp;</p>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '0000-00-00',
			'keywords' => 'new business age biz news news & articles, biz news news & articles from new business age nepal, biz news headlines from nepal,  current and latest biz news news from nepal, economic news from nepal, nepali biz news economic news and events,  ongoing biz news news of nepal',
			'description' => 'For listing all SMS Keywords of Nubiz Publications: Type 'nubiznewskeywords' send it to 2233 to see all the keywords on your mobile.',
			'sortorder' => '1589',
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	(int) 2 => array(
		'Article' => array(
			'id' => '1727',
			'article_category_id' => '139',
			'title' => 'Nepal And The World News In Brief (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;"><img alt="US GDP" src="/userfiles/images/gdp(1).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />US GDP Accelerates Sharply&nbsp;</span></strong></div>
<div>
	The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program. Gross domestic product grew at a 2.5 percent annual rate, according to revised estimates for the period that were released by the Commerce Department on Thursday. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="China Oil " src="/userfiles/images/coil.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />China Oil Giant Sinopec Buys into Egypt for $3.1 bln</span></strong></div>
<div>
	Chinese oil giant Sinopec will pay $3.1 billion for a one-third stake in the Egyptian oil and gas business of US firm Apache Corp. it said on Friday, as China builds up its access to global energy reserves. The deal, which is still subject to regulatory approval, marks Sinopec&rsquo;s first entry into Egypt&rsquo;s upstream oil and gas sector, according to a company statement.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Gold Drops Below $1,400" src="/userfiles/images/gold(2).jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 67px;" />Gold Drops Below $1,400</span></strong></div>
<div>
	Gold slid below $1,400 an ounce on Friday as the dollar rallied to a four-week high, with investors squaring positions at the end of the month and cashing in on a recent run-up ahead of a long U.S. holiday weekend. Spot gold eased 0.93 percent to $1,394.51 an ounce by after slipping to a session low of $1,392.06 an ounce. U.S. December gold futures lost $18.10 an ounce to $1,394.8 an ounce, down 1.28 percent.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="BRICS Agree" src="/userfiles/images/bricks.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 100px; height: 75px;" />BRICS Agree Capital Structure for Development Bank&nbsp;</span></strong></div>
<div>
	The BRICS bloc of large emerging economies have agreed on the capital structure for a proposed development bank that aims to reduce their reliance on Western financial institutions, a newspaper reported. Officials from Brazil, China, India, Russia and South Africa agreed to set up the bank with a total capital of $50 billion, shared equally among them, it quoted an unnamed senior Indian government official as saying. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Samsung" src="/userfiles/images/samsung(5).jpg" style="float: left; margin: 0px 10px 0px 0px;height: 66px; width: 100px;" />Samsung Emerges as the Top supply chain Company in Asia Pacific</span></strong></div>
<div>
	Korean electronics major Samsung has been ranked at the top in IT research firm Gartner&rsquo;s list of 25 major performing supply chain organisations in Asia Pacific region. &nbsp;Chinese PC and mobile devices maker Lenovo bagged the second position, backed by impressive revenue growth and inventory turns, Gartner said.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '0000-00-00',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The U.S. economyaccelerated more quickly than expected in the second quarter thanks to a surge in exports, bolstering the case for the Federal Reserve to wind down a major economic stimulus program.',
			'sortorder' => '1588',
			'image' => null,
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	(int) 3 => array(
		'Article' => array(
			'id' => '1726',
			'article_category_id' => '138',
			'title' => 'Study Reveals Large, Untapped Potential For Water And Sanitation Services For The World’s Poor',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="" src="/userfiles/images/ifc(2).jpg" style="width: 500px; height: 79px;" /></div>
<div>
	&nbsp;</div>
<div>
	Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector. &nbsp;A new report released by the World Bank&rsquo;s Water and Sanitation Program (WSP) and the International Finance Corporation (IFC) on August 29 finds that this will not only improve their livelihoods but is also an enormous market potential which waits to be tapped. &quot;Today, 2.5 billion people lack access to sanitation and at least 780 million people lack access to safe drinking water. &nbsp;Global estimates of economic losses from the lack of access to water and sanitation are estimated at US$260 billion every year,&quot; the report said.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The public sector alone cannot meet this massive challenge; if we want to end extreme poverty by 2030 and boost shared prosperity for the bottom 40%, we will have to scale up water and sanitation access,&rdquo; said WSP Manager Jae So. &nbsp;&ldquo;And to do that, both the public and private sector will need to work together.&rdquo;&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	One of the most striking findings of Tapping the Markets: Opportunities for Domestic Investments in Water and Sanitation for the Poor, is the enormous market potential. Focusing only on Bangladesh, Benin, and Cambodia, about 20 million people are projected to obtain their water from rural piped water schemes by 2025. That is 10 times the current number, a market worth at least US$90 million a year. On the sanitation side, there is a potential US$700 million Bottom of the Pyramid market in Bangladesh, Indonesia, Peru, and Tanzania. &nbsp;The current total market for improved on-site sanitation services in these four countries is estimated to be worth US$2.6 billion.</div>
<div>
	&nbsp;</div>
<div>
	The results of the study offer new solutions to prevent the thousands of daily child deaths and hundreds of billions of dollars in annual economic losses caused by lack of access to water and toilets. &nbsp;It takes a hard look at the challenges faced in tapping the business opportunities in developing countries by private firms willing to make the commitment to reaching the poorest people.</div>',
			'published' => true,
			'created' => '2013-09-02',
			'modified' => '2013-09-02',
			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Many of the poorest people in developing countries, for whom public water and sanitation services are out of reach, could increasingly rely on service provision through the domestic private sector.',
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		'Article' => array(
			'id' => '1725',
			'article_category_id' => '137',
			'title' => 'India Outpaces Japan To Become World’s 3rd Largest Internet User',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	India surpassed Japan to become the world&rsquo;s third-largest Internet user, based on the size of its online population, behind only the U.S. and China. The growth highlights the potential of India&rsquo;s fast-growing e-commerce market, according to a report from global digital measurement and analytics firm ComScore.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;Riding on a 31 per cent year-on-year increase, India&rsquo;s online population grew to 73.9 million. With an extended online universe in excess of 145 million the market is at a tipping point for online businesses. India is the world&rsquo;s third largest Internet population,&rdquo; the report said.The country overtook Japan by adding 17.6 million users in 2012, the ComScore report said.Of the total 644 million home and work Internet users in Asia-Pacific as of March 2013, China accounted for a lion&rsquo;s share of 54 per cent followed by India (11.5 per cent), Japan (11.4 per cent), Southeast Asia (9.6 per cent) and rest of APAC (13.5 per cent).On consumption, ComScore said that media fragmentation is occurring at light speed in today&rsquo;s multi-platform environment, which features not only computers, but smartphones, tablets, gaming platforms and a ever-increasing number of emerging devices.</div>
<div>
	&nbsp;</div>
<div>
	According to the study, India has the youngest skewing online population among BRIC countries, with 75 percent of its Internet users under the age of 35. &ldquo;Although the U.S. held 66 percent of the total global Internet audience in 1996, it now accounts for just 13 percent of the global online users, while the Asia-Pacific region accounted for 41 percent and Europe accounted for 27 percent of the global Internet users in 2012,&rdquo; the report states.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	However, U.S. users spent the most time on the Internet with North Americans spending 37.2 hours, while users from Asia-Pacific spent just 17.2 hours, on an average, in a month. India&rsquo;s strong growth in its Internet audience -- at six times the global average growth rate &ndash; holds enormous opportunity for the country&rsquo;s e-marketers, which helps the country&rsquo;s e-commerce sector, which is estimated to reach $100 billion in size by 2015, according to estimates.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;While 60 percent of Web users in India visit online retail sites, time spent on shopping sites still has huge growth potential,&rdquo; the report said. India&rsquo;s online retail market grew more than 60 percent in 2012-2013, with the apparels market growing by 21 percent, ComScore said. Indian Internet users spent 25 percent of their online time in social networking websites, with 86 percent of the total audience visiting such sites in the last fiscal year. Facebook dominates the segment with 59.6 million user-visits and a 28 percent increase in the traffic. Entertainment and online video segments also witnessed exponential growth with 54 million users, in 2012-13. &ldquo;The online video audience in India grew an astounding 27 percent in the past year, and YouTube continues to be the top video property with more than 55 percent share,&rdquo; according to the report.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<hr />
	<h5>
		&lsquo;Mobile internet fueling internet population growth in Nepal&rsquo;</h5>
	<div>
		In line with the global surge, Nepal is also witnessing a staggering growth of internet population. According to a report published by Nepal Telecom Authority (NTA) in July, over 25 per cent of Nepali citizens have access to internet connection. &ldquo;As of mid-July (last fiscal year), Nepal&rsquo;s internet penetration rate reached 26.10 per cent of the total population against the rate of 19 per cent in the same period of last year,&rdquo; the report states.&nbsp;</div>
	<div>
		&nbsp;</div>
	<div>
		The report informed that the total number of internet users has reached 6.91 million.&nbsp;</div>
	<div>
		The robust use of internet is fueled by mobile internet, sub-broadband and high speed services such as WiMax. However, the high speed 3G wireless mobile network is seen as the main driving factor of internet population growth in Nepal. &ldquo;Out of total subscribers, 6 million users surf the world wide web through their mobile devices,&rdquo; reads the NTA report. The sharp rise in the availability of low-cost smartphone handsets and competitive bandwidth prices are seen as factors attracting internet users. Furthermore, the appeal of social media is also considered as another major element which contributes to the rise of internet users. In July, commercial web traffic data provider Alexa Internet Inc, a subsidiary of Amazon.com, ranked Facebook as the most popular website among Nepali internet users. The company also ranked Twitter and Linkedin in 12th and 13th place in Nepal respectively.</div>
	<div>
		&nbsp;</div>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'India surpassed Japan to become the world’s third-largest Internet user, based on the size of its online population, behind only the U.S. and China.',
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		'Article' => array(
			'id' => '1724',
			'article_category_id' => '135',
			'title' => 'Auto Oil Pricing Mechanism',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;">The hostility of the oil price hyping continues to threaten the economic social development rights of the people. This tends to effect more to the 80 per cent of the working class, middle class, and the people living below the threshold level least effecting the 20 per cent of the elite who continue to consume almost 60 per cent&nbsp;</span><span style="font-size: 14px;">of the national &nbsp;income. This augmentation on oil price is not only effecting the oil consumer but has even devastating effect on the poor when the price of all other basic necessities hype to a greater level but there is no shift in the income level of the 80 per cent even if there is least possibility.</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Saroj Pandey, Former president, Nepal Petroleum Dealers’ Association (NPDA)" src="/userfiles/images/dsp.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 229px;" />Saroj Pandey</span></strong></div>
<div>
	<span style="font-size:14px;"><em>Former president, Nepal Petroleum Dealers&rsquo; Association (NPDA)</em></span></div>
<div>
	&nbsp;</div>
<div>
	One of the major reasons behind the oil pricing mechanism is the oil politics, the bigger picture lies behind the veil that is reluctance of both political parties and the National Oil Corporation (NOC). The NOC being one of the biggest pitch for corruption, this extreme incompetence of the two sides is leading the country towards black hole of economic detriment. The reluctance can be seen, after facing so many oil crisis and dispute. The NOC has not been able to set any petroleum regulatory mechanism nor does the government have it been able to bring any sort of law and act regarding petroleum distribution and regulation. This incompetence of the government and the NOC is leading frustration among the people and also among private investors. This mismanagement of corporation and constant oppression to the people will have to come to an end. &nbsp;If they cannot run the country and the corporation they will have to raise their hands to surrender the oil pricing mechanism to the market forces. There I suggest the Government to wash their hands off the dirty politics and the private investor to maintain their ethics and give justice to this crisis.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;"><img alt="Deepak Subedi,Spokesperson, Ministry of Commerce and Supplies " src="/userfiles/images/ds.jpg" style="float: left; margin: 0px 10px 0px 0px;width: 200px; height: 232px;" />Deepak Subedi</span></strong></div>
<div>
	<em><span style="font-size:14px;">Spokesperson, Ministry&nbsp;</span><span style="font-size: 14px;">of Commerce and Supplies&nbsp;</span></em></div>
<div>
	&nbsp;</div>
<div>
	The budget has clearly decided to take on the auto pricing mechanism and the government is slowly moving toward the required policy formation to adopt the system, it is a gradual process because if the prices are abruptly left on the auto mechanism there would be rapid growth of inflation which could make the situation even more chaotic. Looking at the past, the previous governments had constantly tried to raise the price of the oil, which led to protest. Then the government was forced to revoke those decisions immediately. But this government &nbsp; seems committed and is looking for a long term solution .Because of the over hiking debts this government has decided cut subsides.</div>',
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			'created' => '2013-09-02',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'The hostility of the oil price hyping continues to threaten the economic social development rights of the people.',
			'sortorder' => '1585',
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	(int) 6 => array(
		'Article' => array(
			'id' => '1723',
			'article_category_id' => '134',
			'title' => '‘Comprehensive Strategy Needed For Hydropower Development’',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<span style="font-size:14px;"><strong><img alt="Yasing Zhang,Senior Vice President of Sinohydro Resources Ltd, " src="/userfiles/images/yz.jpg" style="float: right; margin: 0px 0px 0px 10px;width: 200px; height: 184px;" />Yasing Zhang</strong> is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. In a tete-e-tete with <strong>Sanjeev Sharma</strong> of The Corporate, he expresses his plan to tap hydropower potential in Nepal.&nbsp;</span></div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Power Summit&nbsp;</span></strong></div>
<div>
	I think, the Power Summit 2013 organised by the Independent Power Producers Association of Nepal (IPPAN) has provided a platform for investors, policy makers and stakeholders to freely express their views and to discuss various topics regarding the hydropower sector. I believe that the discussions helped iron out major hassles prevailing in the sector. In this regard, the Power Summit 2013 has successfully achieved its goal to hasten the pace of hydropower development in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">FDI in the Hydropower</span></strong></div>
<div>
	As an investor, we feel that there is an absence of preferential and privilege policies to attract foreign investment in Nepali hydropower projects. There are no incentives in terms of taxes for foreign investors. The tax burden created from provisions of contract tax and value added tax (VAT) is putting pressure on the developers. The absence of proper insurance policies pertaining to hydropower has also been hindering foreign investment. Investments in projects are always at risk in case of natural disaster or big technical failures if there are no proper insurance policies in place.</div>
<div>
	&nbsp;</div>
<div>
	&nbsp;It is necessary to formulate investment-friendly policies to attract Foreign Direct Investment (FDI). Thus, policy makers should harmonise existing laws.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Problems for Investors</span></strong></div>
<div>
	Nepal has tremendous hydropower potential. But the country has yet to tap its potential due to several problems mostly linked to project licensing, technical issues as well as legal hurdles. I think the Nepal government should be ready to relax existing hassles on agreement and licensing to ensure timely service delivery. In Nepal, there is no procedure in accordance with international standards to issue Project Development Agreements (PDA), which slows the pace of project development and adversely affects the sentiment of developers. The initial survey licenses of various major projects are held by domestic/foreign developers for several years or even decades. Similarly, there are also issues regarding Power Purchase Agreements (PPA). The fluctuation in foreign exchange rate makes things difficult for power developers as they are more likely to face loss in selling the electricity they generate. These issues should be addressed first hand.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There are several infrastructure-related constraints. Poor roads, lack of transmission lines, difficulties in conducting projects in remote areas and insufficient supply of construction materials and equipments are other problems in developing a project here. &nbsp;Likewise, awarding a single river basin to many contractors is also adding complications. Some social and political influences such as frequent protests and strikes against particular projects and inadequacy of local skilled staffs are other contributing factors.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Solutions to the Existing Hassles</span></strong></div>
<div>
	Effective policies are needed to solve all aforementioned problems. Developing common standards and procedures concerning hydropower investment will also have positive impact. A common standard and procedures should address issues regarding contract and licenses, company registration, bank account opening and control of foreign currency. Issues regarding the holding of initial license can be solved by cooperation with or transferring from the initial license holder. As far as PDA and PPA are concerned, the government should follow procedures in line with international standards.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	There is an exigency in preferential policy provision on hydropower investments. This includes duty exemption and tax reduction on raw materials, construction equipments, vehicles, and the income of power developers. Convenience on custom clearance and flexibility in work visa will also boost the morale of foreign investors. There are several issues regarding land acquisition by the projects. This issue could be solved by issuing instructive principles of land acquisition. Establishing a general administration on land acquisition and transfer capable of providing guiding land price in different regions and project areas will be the first right step. Secondly, simplifying the land acquisition and transfer procedure is also necessary.</div>
<div>
	&nbsp;</div>
<div>
	One-stop service of hydropower development can deliver effective solutions. For that, the government should set-up a stable and comprehensive agency responsible for hydropower administration in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Water Resource Management&nbsp;</span></strong></div>
<div>
	Hydropower development is directly linked to water resource management. If properly managed, the water resource of a single project can be used for various purposes. For this, Nepal needs to identify pilot projects. Those projects should be fairly large enough in terms of power generation. This will help focus efforts in hydropower development. Apart from electricity generation, such projects may also provide water for irrigation and drinking.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Sinohydro&rsquo;s Plan&nbsp;</span></strong></div>
<div>
	Sinohydro Resources Limited is the overseas investment window of Power Construction Corporation of China (Power China). We have been in overseas investment business since 2004 with a registered capital of USD 400 million. We entered the Nepali market in 1995 and successfully accomplished six major hydropower, irrigation and infrastructure projects since then. The Ilam Hydroelectric Project, Modi Hydroelectric Project, Sikta Irrigation Project Phase 1, Sunsari-Morang Irrigation Project, and Bagmati Irrigation Project were handed over to the Nepal government after completion. Similarly, we upgraded the Tansen-Tamghas road project. Currently, Sinohydro is engaged in civil works of Kulekhani 3 and Upper Tamakoshi. Likewise, the 50MW Upper Marsyangdi &lsquo;A&rsquo; hydropower project is being developed with our investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Nepal should Take Advantages</span></strong></div>
<div>
	Nowadays, trading of surplus power is becoming a lucrative trade in the world. Nepal can earn substantial amount of money from such trading. I suggest the government and concerned authorities to formulate a master plan of power consumption. The plan should assess domestic requirements and power for export. Similarly, the establishment of a nationwide transmission network is also necessary for electricity export.&nbsp;</div>',
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			'description' => 'Yasing Zhang is the Senior Vice President of Sinohydro Resources Ltd, a Chinese multinational hydropower and infrastructure company. Zhang was in Kathmandu to attend the two-day Power Summit 2013. I',
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	(int) 7 => array(
		'Article' => array(
			'id' => '1722',
			'article_category_id' => '152',
			'title' => 'Focus Briefs (2 - 8 September 2013)',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong><span style="font-size:14px;">Banks and Promoters at Loggerheads over Property Evaluation: Governor</span></strong></div>
<div>
	Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other. While addressing the Power Summit, Khatiwada said, &ldquo;The banks say that the promoters tend to inflate the equity amount of the projects, while the promoters blame the banks for under evaluating the asset while financing their projects.&rdquo; Shedding light on the risk aversion issue in the hydropower sector investment, he advised both the parties to build confidence rather blaming each other for the problem. The central bank governor also opined that the project developers should include the risk of exchange rates in the project analysis and financial appraisal instead of seeking risk guarantee from the government on foreign investment.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Strike at Upper Madi Hydropower Project</span></strong></div>
<div>
	Nearly 90 Nepali workers went on a strike at Upper Madi-hydropower at Sildujure in Kaski after their demand for pay as per the international labour organizations went on deaf ears. Most of the protesters include drivers, operators, labourers, and welders. Vice-chairperson of Workers&rsquo; Committee&rsquo;s Guna Prasad Baral said, &ldquo;We were forced to take this decision after the contractor did not pay any heed to their twenty-point demand that we put forth.&rdquo; Their demands include reduction of duty hours, over-time allowance, Dashain bonus and work place security, among others. Later a meeting between the agitating parties and the management committee was held but it ended inconclusively. &ldquo;There is no work environment at the construction site. No allowance or other facilities are provided to drivers. We have to wear the same pair of shoes, that don&rsquo;t last even for 15 days, for more than six months and we don&rsquo;t even have a toilet,&rdquo; Baral said. Meanwhile, Pas Bahadur Bastola, undersecretary of stakeholder&rsquo;s committee expressed solidarity with the workers&rsquo; agitation. As many as 100 Chinese nationals are working in the project. The hydro project, with a capacity of 25 MW, was initiated with the joint investment of Chinese Three Georges and Nepal&rsquo;s private sector. It had started on December 29 in 2012 with completion time of 28 months. The estimated cost of the project is Rs 5.28 billion and it was supposed to be completed by April 2015.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">Exploring Possibilities in Hydro Sector</span></strong></div>
<div>
	The politicians participating in the power summit 2013 threw support for &ldquo;integration of power markets&rdquo; of Nepal, China and India &ldquo;for the benefit of everyone in the region&rdquo;. Although Nepal is said to have a potential of producing 83,000MW of hydroelectricity from its rivers, the country so far has been able to tap less than 800MW of that. As a result, hours-long power outage has become a norm in the country, which is affecting production at various industries and hindering country&rsquo;s economic development. &ldquo;Water resources need to be exploited to achieve higher growth rates. If we cannot do this the country&rsquo;s dream of graduating to the grouping of developing nations, will only remains a pipe dream,&rdquo; said Radhesh Pant, CEO of the Investment Board, which oversees implementation hydro projects of over 500MW, among others.</div>',
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			'description' => 'Governor of the Nepal Rastra Bank Dr Yuba Raj Khatiwada said that the banks and the promoters of hydropower projects are playing blame game with each other.',
			'sortorder' => '1583',
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	(int) 8 => array(
		'Article' => array(
			'id' => '1721',
			'article_category_id' => '153',
			'title' => 'Lighting Nepal: The Vision Ahead',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Suraksha Adhikari&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector. The experts and the delegates who had participated in the meet suggested the government to rectify their inconsistent policy for the sluggish growth of hydropower development in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Event</span></strong></div>
<div>
	The event &mdash; claimed to be first in Nepal &mdash; held under the banner of &lsquo;Power Summit 2013&rsquo; jointly organised by Independent Power Producers&rsquo; Association, Nepal (IPPAN), PTC India Limited and Non-Resident Nepali Association (NRNA). The event was inaugurated by President Dr Ram Baran Yadav with an objective to &lsquo;Hastening Pace of Hydro power Development&rsquo;. It reviewed Nepal&rsquo;s achievement in harnessing its hydropower potential since 2006, weaknesses and measures to be adopted to accelerate the pace of hydropower development.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Themes</span></strong></div>
<div>
	The topics related to project was to meet local demand to be built with local capital and foreign capital. There are other important issues which were discussed in the summit includes plan to export power, its markets integration, transmission line and power market management.</div>
<div>
	&nbsp;</div>
<div>
	The summit was designed to cover all major areas that are prerequisite for the development of the country&rsquo;s hydropower sector, including political commitment, legal and regulatory framework, realistic electricity demand forecast, electricity pricing, project financing infrastructure, construction of transmission lines and managing local expectations, according to IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	<strong><span style="font-size:14px;">The Expectations of Participants</span></strong></div>
<div>
	Having the participation of around 500 individuals, including power developers from Russia, Korea, Czech Republic, New Zealand, Norway, Canada, the US, India and China, the summit came up with the ides and suggested the government to develop hydropower projects in the country.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The participants asked the government to make realistic energy demand forecast which would guide investors. They also asked to simplify multifold procedures in developing hydropower projects. They complained that involvement of large number of institutions and contradicting laws have been the barriers in investment.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;The power developers have to approach as many as 10 government agencies, along with abiding by 15 national laws, for registration, licence procuring and development of hydropower projects,&rdquo; said Narendra Prajapati, treasurer of Independent Power Producers Association of Nepal (IPPAN).</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Government&rsquo;s Voice</strong></span></div>
<div>
	The representatives of government of Nepal present in the summit focused in integrating Nepal&rsquo;s hydropower with the neighbouring countries for upgrading the power sector of the entire region. Ministers informed that the government is working to attract foreign investments in this sector. They also highlighted that the government has been working to invite private sector in the development of transmission lines.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	In his inaugural address, President Dr Ram Baran Yadav said that Nepal can be recognized as a &lsquo;hydropower nation&rsquo; through the development of hydropower sector. He underlined the fact that Nepal&rsquo;s success depends on how it interacts with its neighbours.</div>
<div>
	&nbsp;</div>
<div>
	Minister for Finance, Industry, Commerce and Supplies Shankar Prasad Koirala, while stating that the government has accorded the top priority to the hydropower among all economic sectors, said, &ldquo;The government is working towards the simplification and revision of the policies to boost investment in this sector.</div>
<div>
	&nbsp;</div>
<div>
	He said, that the government has allocated budget of Rs 13.5 billion for the construction of transmission line so that the hydro electricity won&rsquo;t go waste due to lack of transmission line. Similarly the government is also planning to construct Upper Tamakoshi, Tanahu Seti, Budigandaki and Nalsinghad hydroprojects. &ldquo;Preparations are underway to sign power purchase agreement with the projects that are lying in wait for long,&rdquo; he added.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Ensuring the private sector and other concerned authority in resolving problems that are chronic in power sector, Nepal Electricity Authority (NEA) assured that the problems could be anything ranging from stalled construction transmission lines and generation projects in the public sector to delayed concluding PPAs and achieving requisites and approvals in case of IPP projects.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Upbeat Spirit</strong></span></div>
<div>
	Along with the government of Nepal, the private sector was also found motivated in opening up markets and developing infrastructure in the form of roads and transmission networks for making Nepal&rsquo;s hydroelectricity a resource of this entire region. &ldquo;Our destination is to increase power generation and per-capita consumption by at least five fold in the next decade,&rdquo; said Subarna Das Shrestha, President, IPPAN.</div>
<div>
	&nbsp;</div>
<div>
	Foreign representatives who attended the power summit claimed that there are positive signs for the development of power sector, despite some hurdles. According to them cooperation between the investors of different countries should be encouraged in Nepal for the benefit of the Nepalese economy. The representatives of the countries assured that they can share their expertise and their capital with their Nepalese counterparts.</div>
<div>
	&nbsp;</div>
<div>
	Norwegian Ambassador to Nepal Alf Arne Ramslien and Chinese Ambassador to Nepal Wu Chuntai assured to extend all possible support from their government for the hydropower development aimed at prompting Nepal&rsquo;s inclusive growth.</div>
<div>
	&nbsp;</div>
<div>
	RV Shahi, former power secretary of India, said that uncertainty over the consensus on the hydropower development in Nepal is the reason why it lags behind in harnessing the hydropower sector. He suggested the government to prioritise a few projects which could be promptly developed to boost confidence among people, developers and financers.</div>
<div>
	&nbsp;</div>
<div>
	Sharing the experiences and lessons from Hydropower Investment in Nepal, Yaxing Zhang, Vice President of Sinohydro Resources Limited said that there is a lack of preferential provisions in the laws of Nepal. There are constraints like poor roads, lack of transmission lines, difficulties in conducting projects in very remote areas, shortage of modern equipment and tools needed for construction.</div>
<div>
	&nbsp;</div>
<div>
	&ldquo;We have worked on six projects in Nepal- Ilam Hydroelectricity Project being one of them. Two are still under construction,&rdquo; he added. &nbsp;It also has joined hands with local company Sagarmatha Power Company for a hydro power project.</div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size:14px;"><strong>The Investments</strong></span></div>
<div>
	Similarly the second event entitled International Hydropower Investment Meeting held on August 28-29 organized by Hydroelectricity Investment and Development Company Limited (HIDCL) discussed foreign and domestic investments in those areas which have been identified as potential hydropower projects in the country.</div>
<div>
	&nbsp;</div>
<div>
	Different countries including Nepal, India, Australia, China, US, United Kingdom as well as countries associated to the European Union participated in the meeting. During inaugurating the programme, Umakant Jha, Minister for Energy invited the foreign investors to invest in such projects in Nepal. He said, &ldquo;It is high time to go for storage type projects for securing the future of energy in the country.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	The foreign investors are also showed interest in investing in hydropower sector. Priyantha Wijayatunga, Unit Head, Portfolio Management Unit at the Asian Development Bank (ADB), stated that the ADB was always positive to extend its support for the development of hydropower sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	He said that the ADB would provide about 400 million US$ financial support in the hydropower sector in the next three years. The OPG Power and Infrastructure Pvt Ltd also committed to invest $ 10 million in this sector in Nepal.</div>
<div>
	&nbsp;</div>
<div>
	Dalip Dua, Director of OPG Power and Infrastructure Pvt Ltd, said, that the foreign investors are willing to invest in Nepal but it&rsquo;s the duty of Nepal&rsquo;s Government to create investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	Deepak Rauniar, chief executive officer of HIDCL said that priority should be given for the power producing to end the existing energy crisis. &ldquo;Political stability and commitment from the government can attract large number of foreign investors in the hydropower sector of Nepal,&rdquo; he said.</div>
<div>
	&nbsp;</div>
<div>
	Moreover, the concern of all the participants of both the summits was to create an investment friendly environment.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Power Summit Nepal 2013" src="/userfiles/images/ps1.jpg" style="width: 500px; height: 237px; margin-left: 20px; margin-right: 20px;" /></div>',
			'published' => true,
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			'description' => 'At time when Nepal has failed to exploit the immense hydropower potential, the capital hosted two international events to invite foreign investors in this sector.',
			'sortorder' => '1582',
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	(int) 9 => array(
		'Article' => array(
			'id' => '1720',
			'article_category_id' => '160',
			'title' => 'Corptoon Vol 3 Issue 29',
			'sub_title' => '',
			'summary' => null,
			'content' => '',
			'published' => true,
			'created' => '2013-09-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Corptoon',
			'sortorder' => '1581',
			'image' => null,
			'article_date' => '0000-00-00 00:00:00',
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			'breaking_news' => false,
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	),
	(int) 10 => array(
		'Article' => array(
			'id' => '1719',
			'article_category_id' => '91',
			'title' => '157.8 Million Shares Listed In NEPSE',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<strong>--By TC Correspondent&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE. The numbers of listed shares have increased by 3 per cent from the previous fiscal year. At the end of FY 2011-2012, the listed shares in NEPSE were around 1.14 billion which increased to around 1.30 billion in the previous year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Securities Board of Nepal (SEBON) has provided all kinds of share issuance permits up to Rs 20.31 billion. According to a SEBON source, permission has been given to issue IPO shares up to Rs 3.51 billion to 23 companies, right shares up to Rs 3.94 billion to 5 companies, bonus shares up to Rs 4.60 billion to 52 companies and bond issuance up to Rs 3.15 billion to 7 companies. There is a possibility of these shares being listed in NEPSE for transaction in the current fiscal year which ensures the expansion of share markets in comparison to the previous fiscal year.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Market Size Increased by 40pc</strong></div>
<div>
	Compared to FY 2011-2012, market capitalisation of the share market has increased by 40 per cent in FY 2012-2013. Market capitalisation in the previous fiscal year had increased by 13.84 per cent. During the end of FY 2011-2012, the total market capitalisation of companies listed in NEPSE was Rs 368 billion which increased to Rs 514 billion in FY 2012-2013. &nbsp;According to Anjan Raj Poudyal, former President of Stock Brokers Association of Nepal (SEBAN), the increment in the share market size is caused by the rise in the number of listed companies, share and investors within this year. He also said the operation of essential infrastructures of share market like CDS &amp; Clearing and mutual funds also helped to increase the market size. Poudyal added, &ldquo;The investors are also increasing lately with the continuity of share market activities.&rdquo;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Transaction Rate Doubled</strong></div>
<div>
	The transaction amount of total shares in the FY 2012-13 has increased by 114 per cent than of the FY 2011-2012. The share transaction was of Rs 10.27 billion in FY 2011-2012 which has reached up to Rs 22.4 billion in FY 2012-2013.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<strong>Listed Companies Reached 230</strong></div>
<div>
	The number of listed companies in the previous fiscal year has reached 230. Among the listed companies, there are 198 bank and financial institutions, 18 manufacturing and processing industries, 4 hotels, 4 commercial organisations, 4 hydro power companies and 2 other groups. &nbsp;There were 216 listed companies in FY 2011-2012.&nbsp;</div>',
			'published' => true,
			'created' => '2013-09-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'Around 157.8 million shares have been listed in Nepal Stock Exchange (NEPSE) in the FY 2012-2013. During this period, IPO shares, bonus and right shares were listed in NEPSE.',
			'sortorder' => '1580',
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	(int) 11 => array(
		'Article' => array(
			'id' => '1718',
			'article_category_id' => '91',
			'title' => 'Devaluating Rupee Costs Industries Dearly',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	&nbsp;</div>
<div>
	<strong>--By Sagar Ghimire</strong></div>
<div>
	&nbsp;</div>
<div>
	With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though Nepal Oil Corporation (NOC) has not hiked the price of petroleum products due to the sharp fall of the Rupee, NOC cannot withhold the loss incurred in petroleum products for a long time.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Nepali Rupee plunged as low as Rs 108 last week against a unit price of the US Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Industrialists lament that they will have to suffer badly due to the price hike of petroleum products resulting from the free-fall of local currency against the Dollar.</div>
<div>
	&nbsp;</div>
<div>
	Pashupati Murarka, vice-president of Federation of Nepal Chambers of Commerce and Industry, says that the government will be left with only two choices. According to him, the government either has to provide more subsidies to NOC to keep the price of petroleum products unchanged, or it has to adjust the price of petroleum products. &nbsp;&ldquo;Either way, it would take a toll in Nepal&rsquo;s crippling economy, particularly industries,&rdquo; he says.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Currently, NOC is reeling under a heavy loss. According to the NOC officials, the corporation incurred a loss of Rs 1.62 billion last month. While unveiling the budget for FY 2013-14, the government said it would adopt the auto price mechanism to adjust the price of petroleum products with the international market.</div>
<div>
	&nbsp;</div>
<div>
	Nepal&rsquo;s industries are now relying heavily on diesel to meet energy demands due to extreme daily power outage. At present, the demand and supply gap hovers around 300MW, with a demand of 900MW demand against a 450MW supply.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The price hike in petroleum products following the depreciation of the Nepali Rupee, pegged with the Indian currency, would have an adverse impact on the cost of manufacturing products. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Murarka estimated that Re 1 increase in diesel per litre would raise the cost of electricity of the industry by 0.30 paisa per unit. &nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Even if the government comes up with subsidies to save the NOC from a heavy loss, short supply will create problems for factories that are already battered with regular power cuts,&rdquo; says Murarka, warning that such short supply could also lead to black marketing of petroleum products.</div>
<div>
	&nbsp;</div>
<div>
	The import of petroleum products only accounted for Rs 107 billion out of total import bill of Rs 257.66 billion for 10 commodities from India in FY 2012-13. In FY 2011-12, the petroleum import bill was at Rs 92.25 billion.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to Ministry of Finance Chief Advisor Dr Chiranjibi Nepal, the country&rsquo;s total export amount is not even adequate to foot the bill of petroleum alone.</div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<ul>
						<li>
							<strong>Devaluation of the Rupee will hike petroleum price</strong></li>
						<li>
							<strong>Price hike in petroleum will have adverse impact on manufacturing costs</strong></li>
						<li>
							<strong>Govt subsidies not likely to alleviate inflation&nbsp;</strong></li>
						<li>
							<strong>Industrial sector is now relying heavily on diesel for power generation</strong></li>
					</ul>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'created' => '2013-09-01',
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			'keywords' => 'the corporate weekly from Nepal, nepali corporate events – news – interviews – reviews, nepali corporate focus, nepali corporate status and news, news from nepali corporate industry, corporate happenings – events – news from nepal',
			'description' => 'With the sharp devaluation of the Nepali Rupee against the US Dollar, Nepali factories are more likely to bear the brunt due to effects in supply and price of petroleum.',
			'sortorder' => '1579',
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	(int) 12 => array(
		'Article' => array(
			'id' => '1717',
			'article_category_id' => '182',
			'title' => 'Secure Investment Should Be Guaranteed For Funding',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Debate of Month" src="/userfiles/images/debate.jpg" style="width: 500px; height: 376px;" /></div>
<div>
	<strong>--By Sweta Sharma&nbsp;</strong></div>
<div>
	&nbsp;</div>
<div>
	<span style="font-size: 14px;">There are multiple factors that have limited our economy&rsquo;s growth in the past few years, the most important being poor investment in mega projects that provide &ldquo;Big Push&rdquo; for development. Frequent changes in the government&rsquo;s plan and policies hamper the flow of investment in the country. As a result, Nepal does not to attract enough foreign investors. What can be done? Here are views from some experts :</span></div>
<div>
	&nbsp;</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Subarna Das Shrestha ,President Independent Power Producers’ Association, Nepal (IPPAN)" src="/userfiles/images/sds(1).jpg" style="width: 175px; height: 192px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Subarna Das Shrestha</strong></div>
									<div>
										<em>President</em></div>
									<div>
										<em>Independent Power Producers&rsquo;</em></div>
									<div>
										<em>Association, Nepal (IPPAN)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Mega projects are big projects that need huge investments for operation. Investors require a stable policy but the Nepali government is not able to form strong policies for mega projects. Before investing in a mega project, investors would compare the benefits from investing in Nepal or in other countries. The frequent change in government policy in Nepal had affected the terms and conditions of issuing a license. since the license for a mega project, such as in hydropower is a long period, such as for 35 years, want security of their investment for equally long period.&nbsp;</div>
					<div>
						<div>
							&nbsp;</div>
						<div>
							Private sector investment could be of great help in funding mega projects. But this year, the budget only focused on public projects. This gives reason to worry. As for funding from banks, the main issue would be loan financing. Banks provides 70-80 percent of the project cost as loan and they want loan protection. The government, on the other hand, seems to be very slow in the development of mega projects.&nbsp;</div>
						<div>
							A proper land acquisition policy should be implemented for smooth implementation of mega projects. The Foreign Investment and Technology Transfer Act is also not investor-friendly. Thus, the Project Development Agreement (PDA) that the developer has to sign with the goverment should be bankable and internationally accepted. PDA could be the overall solution for funding mega projects in Nepal either for domestic investment or foreign investment. Recently, IPPAN proposed a PDA to the government on 7th July, 2013 and government seems positive regarding it.</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Gyanendra Lal Pradhan Chairperson Energy Committee of FNCCI" src="/userfiles/images/glp.jpg" style="width: 200px; height: 209px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Gyanendra Lal Pradhan</strong></div>
									<div>
										<em>Chairperson</em></div>
									<div>
										<em>Energy Committee of FNCCI</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						Nepal does not have the capacity to run mega projects. Environment for investment is not quite favorable and it is difficult to attract investors. The main problem is, there is an internal conflict in both the government and the private sector. The policies are not clear about funding mega projects from different sources. Time and again policies get changed with the change in government. This has definitely made it difficult to attract foreign investors. Nepal&rsquo;s government still lacks willingness to provide safety to investment. The bank alone is not able to fund mega projects as it needs huge investment and on top of that Central Bank has increased the paid up capital requirment for banks. In this situation, we cannot expect from banks to contribute in mega projects. Though the budget for fiscal year 2013/14 said it has given emphasis on energy sector, it still is not reasonable. Government has yet failed to meet the expectations of energy sector to bring special programmes. The country needs some concrete programmes when it is going through such severe energy crisis. In this situation, government should be able to involve private sector to fund mega projects considering their demands and suggestions.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#E5E4E2">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Madhu Bhetuwal Department of Electricity Development Senior Divisional Engineer (SDE)" src="/userfiles/images/mb.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Madhu Bhetuwal</strong></div>
									<div>
										<em>Department of Electricity</em></div>
									<div>
										<em>Development</em></div>
									<div>
										<em>Senior Divisional Engineer (SDE)</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						The main hurdle to fund mega projects and hydro projects is political instability. Nepal is experiencing the political chaos since long. Instability in politics have led to hurdles in forming concrete policies. As long as Nepal does not have firmed policies regarding investments, investors will never be interested in any mega projects. Talking about Nepal&rsquo;s experience regarding policies, it is yet not consistent. In this context, government should be able to bring long term plans and programmes to maintain the consistency in mega projects operation. Next issue is that of income tax. It is not clear what income tax rate will be after 2015. It is natural that general public are not inclined to invest in mega projects as there is no mechanism to secure the investments. So, it is must to establish a safer mechanism to attract funds from general public. There exists the confusion about who is to supervise the hydro projects by Ministry of Energy or Investment Board. Thus, this confusion too should be cleared. Similarly, talking about the hydro projects, there is difference in royalty of Electricity Policy and Electricity Act. The Act has a provision for lower royalty whereas the policy has a provision for higher royalty. This too has created problem in investment which needs to be cleared soon. The projects should be supervised by one body so that there won&rsquo;t be any problems in running any mega project.</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<div>
	<table border="0" cellpadding="10" width="99%">
		<tbody>
			<tr>
				<td bgcolor="#F0FFFF">
					<table align="right" border="0" cellpadding="1" cellspacing="1">
						<tbody>
							<tr>
								<td>
									<img alt="Radhesh Pant CEO Nepal Investment Board" src="/userfiles/images/rp.jpg" style="width: 200px; height: 210px;" /></td>
							</tr>
							<tr>
								<td style="text-align: center;">
									<div>
										<strong>Radhesh Pant</strong></div>
									<div>
										<em>CEO</em></div>
									<div>
										<em>Nepal Investment Board</em></div>
								</td>
							</tr>
						</tbody>
					</table>
					<div>
						<div>
							Present legal hurdles for funding of mega projects in Nepal in terms of getting funds from banks, non-banking organization, foreign investors and general public are:&nbsp;</div>
						<div>
							&bull; Non-recourse financing is difficult to obtain because BAFIA requires&nbsp;</div>
						<div>
							collateral / security for any lending by financial institutions (Banks, Finance companies, Insurance);&nbsp;</div>
						<div>
							&bull; Inability of current Financial Institutions to raise funds outside of&nbsp;</div>
						<div>
							retail deposits;&nbsp;</div>
						<div>
							&bull; Single Obligor Limits (SOL) and Sectorial limits mandated by NRB regulations;&nbsp;</div>
						<div>
							&bull; Not necessary a legal hurdle, but there is a lack of depth in Nepal&rsquo;s financial instruments and products with an active secondary market for such instruments.&nbsp;</div>
						<div>
							&nbsp;</div>
						<div>
							In my opinion, these legal hurdles can be removed by adopting the following measures:&nbsp;</div>
						<div>
							&bull; Create a new class of financial institutions that would be allowed to lend on a non-recourse basis with new set of guidelines on SOL and sectoral limits;&nbsp;</div>
						<div>
							&bull; Regulations to create and foster confidence in active secondary markets for fixed income securities and other financial instruments to finance large infrastructure projects</div>
					</div>
					<div>
						&nbsp;</div>
				</td>
			</tr>
		</tbody>
	</table>
</div>
<p>
	&nbsp;</p>',
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			'description' => 'There are multiple factors that have limited our economy’s growth in the past few years, the most important being poor investment in mega projects that provide “Big Push” for development.',
			'sortorder' => '1578',
			'image' => null,
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	(int) 13 => array(
		'Article' => array(
			'id' => '1716',
			'article_category_id' => '175',
			'title' => 'Tourism: Ready To Take Off Again',
			'sub_title' => '',
			'summary' => null,
			'content' => '<div>
	<img alt="Tourism Nepal" src="/userfiles/images/tourism.jpg" style="width: 500px; height: 257px;" /></div>
<div>
	&nbsp;</div>
<div>
	Tourism flourishes in tranquility. It fructifies in those situations where tourists&rsquo; movement is not constricted by any internal or external factors. Thus, political instability is proved to be the biggest hindrance for the smooth operation of tourism industry in Nepal. But Nepal is gradually emerging from the situation of political instability and uncertainty.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The tourism industry of Nepal has not yet tapped to the possible opportunities as Nepal&rsquo;s nature-based tourism can offer a lot to visitors.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Nepal witnessed the positive sign by the total tourist arrivals in 2012 figuring 598,204 which is 53,219 more visitors compared to 2011. The year 2012 has concluded with positive notes both in terms of total visitor arrivals for the month of December and also for the whole year, according to Nepal Tourism Board (NTB).&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to statistics of Nepal Tourism Board (NTB), a total of 598,204 foreign tourists entered the country via aerial route in 2012. Nepal welcomed around 161,000 European tourists in 2012, according to the statistics. The statistics shows total arrivals from Asia, other than South Asia, grew by 15.1 percent during in 2012. The statistics of 2012 also show that 12.97% tourists visited Nepal for the purpose of trekking. Similarly, 3.85% visited for official purpose, 3.11% for business, 12.76% for religion, 4.09 for leisure, 0.62% for mountaineering, 1.71% for conventions and exhibition, 0.21% for rafting, 4.3% for travel, 2.36% for research and 3.69% for other purposes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Tourist Inflow Nepal" src="/userfiles/images/tourist%20inflow.jpg" style="float: left; margin: 0px 10px 0px 0px; width: 300px; height: 153px;" />The statistics show glimpses of possibilities for a bright future of tourism.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	According to the data provided by economic survey FY 2012, Ministry of Finance, the rate of tourist arrival in Nepal has increased by 9.08 per cent between 2011 and 2012. A total of 7, 36,215 tourist entered to Nepal in the year 2011 which increased to 8,03,092 in 2012.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Though the number of tourist visiting to Nepal has been increasing, their average stay in Nepal has been decreased by 0.25 percent in 2012.</div>
<div>
	&nbsp;</div>
<div>
	<img alt="Hotels in Nepal" src="/userfiles/images/no%20of%20hotels.jpg" style="width: 238px; height: 185px;" />&nbsp;&nbsp;<img alt="Trek Route in Nepal" src="/userfiles/images/major%20trek%20routre.jpg" style="width: 298px; height: 185px;" /></div>',
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			'description' => 'Tourism flourishes in tranquility. It fructifies in those situations where tourists’ movement is not constricted by any internal or external factors.',
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			'id' => '1715',
			'article_category_id' => '175',
			'title' => 'GHT’s Great Endeavours',
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				<img alt="Nyin Valley of Humla" src="/userfiles/images/NYIN%20VALLEY.jpg" style="width: 500px; height: 329px;" /></td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Nyin Valley of Humla</td>
		</tr>
	</tbody>
</table>
<p>
	<strong>--By Raju Baskota &amp; Bijay Raj Khanal</strong></p>
<div>
	&nbsp;</div>
<div>
	Humla is slowly increasing its interest towards tourism. This district doesn&rsquo;t even have access to roadways because of its remote geographical condition. Some of the villages of Humla including Simikot are benefited from tourism as they are the entrance to Mansarobar in Tibet. With the aim of developing tourism in the district, recently a new tourist destination Nyin Valley has been introduced. This new trekking route covers north-eastern area from Simikot providing various tourist destinations to the tourists. The masterplan of the project has already been prepared with the help of SNV and the promotional activities are being done rapidly.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Department for International Development (DFID) has provided grant for the promotion of this Valley as branch trekking route of The Great Himalaya Trail (GHT). GHT has been identifying and promoting such trekking routes with the coordination of Ministry for Tourism, District Development Committee and Tourism Development Committee of related districts. The programmes conducted by GHT in various 16 districts have been promoting local tourism. Along with main trekking route, it also has been promoting new trekking routes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Bhavana Adhikari, Communications and Outreach Advisor at GHT said that they have been conducting five day tour package including remote VDCs of the district to promote the district as a whole. GHT has promoted the route from Simikot to Buraunse, Torpa, Nimatang, Ralingumba, Bargaun, Thehe and Khurpanath. As a part of promotion, first home stay in the district also has been started at Buraunse. Micro-entrepreneurship also is provided at all the places from where the trekking route passes.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Jung Bahadur Lama, Marketing and Sales Director of Firante Treks and Expedition said that a proper tourism package is introduced for more effective results. But the area and districts for home stay has to be increased to conduct tourism package in the district. He said that the tasks of promotion of home stay as well as package formation from local tour agents have already been started.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	The Great Himalaya Trail has expanded from eastern region to far-western region covering 16 mountain districts. The starting of this trekking route was from Dolpa and Humla. For the promotion of the trekking trial of Humla, GHT has developed Nyin Valley trekking trail from Bar Gaun VDC to Raling Gumba. A five-day package has been prepared for the promotion of this place and an eight-day package is developed for the tourists going from Kathmandu to the village.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	At the same time, the introduction of Great Himalaya Trail has provided tourists with new experience of trekking and also endowed the people of Gorkha district with employment opportunities that have enhanced their living standard.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	It&rsquo;s been long since the people of southern part of Gorkha district started moving to foreign countries seeking employment opportunities. Dil Bahadur Gurung, Principal of Dewalswara Primary School, Ghyachhok said, &ldquo;There are around 400 houses in Ghyachhok and the food produced here is sufficient only for 200 houses. The scarcity of food has led the people to the foreign countries.&rdquo; Rice doesn&rsquo;t grow in the area, and the local farmers focus only on traditional methods of farming. Prem Bahadur Gurung, one of the locals said that at least two to three members of a family have gone to foreign countries for employment.&nbsp;</div>
<div>
	According to 2011 census, more than 10 per cent, that is 28,104 people, of the population of this district, was out of the district and majority of them had gone for foreign employment. But the trend is reversing though slowly and the credit goes to the Great Himalaya Trail (GHT) that passes through this village. Dil Bahadur of Uhia VDC had gone to Qatar in search of employment, but now he has returned beck. His wife was running an inn in Khorla Besi some months ago, but now she has opened an inn at her own house. She said, &ldquo;I used to earn around Rs 20,000 &ndash; 25, 000 in Khorla Besi during tourist arriving seasons, but now the arrival of tourist is increasing in our own village and it is easier for me to work here.&rdquo; The locals of the VDC also have started vegetable farming. The tourists mainly arrive in two seasons yearly. October to December and March to May are considered as tourist arrival seasons here.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Dil Bahadur took cook training from SNV Nepal under the Great Himalaya Trail Development Programme after returning to Nepal. Now the couple is running the inn business and is self employed. Their inn is at seven hours walking distance from Laprak and since there are no other hotels on the way; they are doing a very good business. They are also planning to convert the inn into a Home Stay format. Along with Dil Bahadur, 90 other people of this district have received training from Great Himalaya Trail Development Programme and are in the process of being self employed.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Project has developed trekking trail from Siran Danda of Gorkha to Lamjung which has provided self employment opportunities to numerous people. According to the locals, the tourists trekking along this trail not only get to know about the culture and lifestyle of Himalayan region but also get to taste the local cuisines. The home stay system also arranges cultural programmes and ethnic dance for the entertainment of the tourists.&nbsp;</div>
<div>
	&nbsp;</div>
<table align="center" border="0" cellpadding="1" cellspacing="1">
	<tbody>
		<tr>
			<td>
				<p>
					&nbsp;</p>
				<p>
					<img alt="Laprak VDC of Gorkha" src="/userfiles/images/LAPRAK%20VDC.jpg" style="width: 500px; height: 285px;" /></p>
			</td>
		</tr>
		<tr>
			<td style="text-align: center;">
				Laprak VDC of Gorkha</td>
		</tr>
	</tbody>
</table>
<div>
	The people of Gorkha district have direct income options after the introduction of the trail. As the number of tourists is increasing, 21 households have already started Home Stay services and three households are planning for the same. Manush Ghale, President of Local Home Stay Management Committee said that 900 foreign and domestic tourists have stayed on the village under the Home Stay system till now. She said that around 60 tourists had stayed in the first year, and gradually the number of tourists increased. Ghale stressed on further promotion of the trail as the people are earning money through home stay business, but they still are not able to sustain their livelihood solely from this business.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Foreigners are charged Rs 1000 and domestic tourists have to pay Rs 700 for accommodation and food for a day. The increasing number of tourists in the area has also increased the prospect of income and the people have started opened numerous inns as Laprak VDC is renowned as a village of guides. Five locals of the VDC have been running trekking agencies in Kathmandu and around 50 per cent of the youths have taken tourist guide profession in the village. Still this profession has not been growing commercially.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Recently, Great Himalaya Trail has also started providing guide training. Raj Gurung, a Laprak local said that this training will help them to be a professional guide and the income source will also increase accordingly. Other local youth are also attracted towards this training.&nbsp;</div>
<div>
	&nbsp;</div>
<div>
	Great Himalaya Trail Development Programme has provided skill development trainings to 62 locals, leadership development training to 91, trekking guide training to 25 and other capacity building training to 98 people till now. An information centre has also been established in Gorkha which helps tourists to get information about the tourist destination. The Programme also has been constructing bridges, foot trails, and drinking water projects in different place of the district. Also, it has been influencing the locals for proper utilization and promotion of the environment.</div>
<div>
	&nbsp;</div>',
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			'description' => 'Some of the villages of Humla including Simikot are benefi ted from tourism as they are the entrance to Mansarobar in Tibet.',
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