CPN (UML), which leads the current ruling coalition, has started discussion on the possibility to put up not more than five thousand People's Liberation Army (PLA) combatants for integration into state security forces.
The discussion started following a report, which was submitted by party general secretary Ishwor Pokharel at the UML politburo meeting held at UML headquarters in Balkhu on Sunday, suggested that there is possibility to integrate only five thousand PLA combatants into the security forces.
UML politburo members put forth their views and suggestions on the report and discussed Prime Minister and UML chairman Jhala Nath Khanal's recent parleys for extension of Constituent Assembly (CA)'s term, during today's meeting. The discussion is set to continue tomorrow also.
The report which is yet to be made public also states that integration and rehabilitation of PLA combatants should be finished within the next nine weeks.
According to a party source, the report further suggests one year term extension for the Constituent Assembly (CA), compulsory formation of Truth and Reconciliation Commission, Commission for Disappeared and State Restructuring Commission at the earliest.
The report also suggests that the parties should forge agreement on the fundamental principles and features of the new constitution before going for the term extension of CA.
It is learnt that the proposal will be endorsed during the party's upcoming central committee meeting scheduled for Tuesday. nepalnews.com
Monday, May 23, 2011
Govt tightens customs points across the country
KATHMANDU, May 23: The government has begun strict implementation of the mandatory provision of filling up brief customs declaration forms for the import of goods priced between Rs 100 and Rs 5,000 through customs offices across the country.
The Department of Customs (DoC) of Friday issued a circular to this effect to all customs offices, including Tribhuwan International Airport (TIA) Customs Office.
The Customs Regulations has made it mandatory for importers to fill business customs declaration forms while importing goods worth Rs 5,000 or more.
“From Sunday onwards, no one will be allowed to import goods worth over Rs 100 without filling customs declaration forms at customs offices. People holding daylong pass to Khasa are required to fill brief customs declaration forms at Tatopani Customs Office,” Tanka Mani Sharma, director general of DoC, told Republica on Sunday.
Though the government had tried to implement the provision in 2007, it had failed due to strong pressure from local people.
The department decided to strictly implement the Customs Regulations after a high-level team led by Sharma found mismanagement and rampant smuggling through all major land customs during its recent onsite inspection.
The government mobilized Rs 74 billion customs revenue against imports amounting to Rs 274 billion during the first 10 months of the fiscal year 2010/11. The government has set a target of collecting Rs 98 billion as customs revenue. It targets to collect total revenue of Rs 216 billion during 2010/11.
The department has already begun enforcement of the provision at Tatopani, Birgunj and Biratnagar and TIA customs, where smuggling of goods is rampant as compared to other customs offices. DoC officials have instructed Tatopani customs officials to strictly collect customs duty from persons who import goods by misusing ´green pass´ - a special document given to Nepalis and Chinese citizens to travel within 30 km from border points.
Nepal has 31 main customs offices and 143 small customs offices along its border with China and India.
Sharma expects collection of more than Rs 300 million from Tatopani customs alone.
The department has also started to keep records of import bills worth more than Rs 100 and even petty imports. It is estimated that more than 500 persons are involved in import of goods in small quantities through all major customs every day.
Officials said strict implementation of the regulations would help increase revenue collection, keep record of movement of people through customs, raise awareness among people to pay customs, strengthen domestic market and identify smugglers and those going to India for shopping.
“Given the existing mismanagement at customs offices, we are hopeful that our new move will be instrumental in check illegal trade via customs points,” he added.
Meanwhile, the DoC enforced new customs declaration prices on the basis of transaction of goods imported from overseas market from Sunday. The DoC had enforced new declaration prices on goods imported from India on the basis of transaction value on May
“We have instructed all customs offices to implement new declaration prices for goods imported from overseas market from Sunday,” said Sharma.
Nepal imports more than 3,000 varieties of goods from across the world.
The Department of Customs (DoC) of Friday issued a circular to this effect to all customs offices, including Tribhuwan International Airport (TIA) Customs Office.
The Customs Regulations has made it mandatory for importers to fill business customs declaration forms while importing goods worth Rs 5,000 or more.
“From Sunday onwards, no one will be allowed to import goods worth over Rs 100 without filling customs declaration forms at customs offices. People holding daylong pass to Khasa are required to fill brief customs declaration forms at Tatopani Customs Office,” Tanka Mani Sharma, director general of DoC, told Republica on Sunday.
Though the government had tried to implement the provision in 2007, it had failed due to strong pressure from local people.
The department decided to strictly implement the Customs Regulations after a high-level team led by Sharma found mismanagement and rampant smuggling through all major land customs during its recent onsite inspection.
The government mobilized Rs 74 billion customs revenue against imports amounting to Rs 274 billion during the first 10 months of the fiscal year 2010/11. The government has set a target of collecting Rs 98 billion as customs revenue. It targets to collect total revenue of Rs 216 billion during 2010/11.
The department has already begun enforcement of the provision at Tatopani, Birgunj and Biratnagar and TIA customs, where smuggling of goods is rampant as compared to other customs offices. DoC officials have instructed Tatopani customs officials to strictly collect customs duty from persons who import goods by misusing ´green pass´ - a special document given to Nepalis and Chinese citizens to travel within 30 km from border points.
Nepal has 31 main customs offices and 143 small customs offices along its border with China and India.
Sharma expects collection of more than Rs 300 million from Tatopani customs alone.
The department has also started to keep records of import bills worth more than Rs 100 and even petty imports. It is estimated that more than 500 persons are involved in import of goods in small quantities through all major customs every day.
Officials said strict implementation of the regulations would help increase revenue collection, keep record of movement of people through customs, raise awareness among people to pay customs, strengthen domestic market and identify smugglers and those going to India for shopping.
“Given the existing mismanagement at customs offices, we are hopeful that our new move will be instrumental in check illegal trade via customs points,” he added.
Meanwhile, the DoC enforced new customs declaration prices on the basis of transaction of goods imported from overseas market from Sunday. The DoC had enforced new declaration prices on goods imported from India on the basis of transaction value on May
“We have instructed all customs offices to implement new declaration prices for goods imported from overseas market from Sunday,” said Sharma.
Nepal imports more than 3,000 varieties of goods from across the world.
Bir to give dialysis services for Rs 500
KATHMANDU, May 23: Kidney patients can now heave a sigh of relief as the Bir Hospital is planning to provide dialysis service for just Rs 500 within a month.
A total of 12 patients can get the services for free at the hospital now but they have to buy the medicines worth Rs 1,000. But the hospital will provide the medicines at Rs 500 and 52 patients will be benefit from the services after the expansion of the nephrology unit.
“The hospital charges Rs 250 to the patients who can pay now and the rate will remain valid even after the expansion,” Hospital Director Dr Buland Thapa said.
Normally a patient has to pay Rs 2,500 for every session of dialysis. Nursing homes and private medical colleges charge anything between Rs 3,500 and 5,000 for one session. A patient undergoing dialysis has to go to a dialysis center three times a week and get hooked up to a machine for four hours at a time.
Bir Hospital said it has made necessary preparations to provide service at the minimum cost as soon as possible. The hospital has published a notice on Friday for procurement of 10 new dialysis machines. According to Dr Thapa, Tokushukai Group, a Japanese medical organization, is going to provide 10 additional dialysis machines to the hospital.
“We hope to get the 10 Japanese machines within a month,” he said. He said the organization has delayed the consignment of machines due to the recent earthquake and tsunami in the country.
The organization had also provided one-month training in Japan to one medical officer, one medical engineer and two nurses to make them competent in running the dialysis center. Bir Hospital currently has eight dialyses machines in operation but new patients cannot get chance for dialysis. The hospital said a new patient can only get dialysis if the patients getting the service die or get kidney transplants.
“We have already arranged a space to install the additional machines,” Dr Thapa said. He said the hospital will provide dialysis service to 56 patients per day.
A total of 12 patients can get the services for free at the hospital now but they have to buy the medicines worth Rs 1,000. But the hospital will provide the medicines at Rs 500 and 52 patients will be benefit from the services after the expansion of the nephrology unit.
“The hospital charges Rs 250 to the patients who can pay now and the rate will remain valid even after the expansion,” Hospital Director Dr Buland Thapa said.
Normally a patient has to pay Rs 2,500 for every session of dialysis. Nursing homes and private medical colleges charge anything between Rs 3,500 and 5,000 for one session. A patient undergoing dialysis has to go to a dialysis center three times a week and get hooked up to a machine for four hours at a time.
Bir Hospital said it has made necessary preparations to provide service at the minimum cost as soon as possible. The hospital has published a notice on Friday for procurement of 10 new dialysis machines. According to Dr Thapa, Tokushukai Group, a Japanese medical organization, is going to provide 10 additional dialysis machines to the hospital.
“We hope to get the 10 Japanese machines within a month,” he said. He said the organization has delayed the consignment of machines due to the recent earthquake and tsunami in the country.
The organization had also provided one-month training in Japan to one medical officer, one medical engineer and two nurses to make them competent in running the dialysis center. Bir Hospital currently has eight dialyses machines in operation but new patients cannot get chance for dialysis. The hospital said a new patient can only get dialysis if the patients getting the service die or get kidney transplants.
“We have already arranged a space to install the additional machines,” Dr Thapa said. He said the hospital will provide dialysis service to 56 patients per day.
Sunday, May 22, 2011
Valley bandh cripples life in capital
A valley bandh called by Chhetri Samaj has crippled life in capital Kathmandu Sunday as private and public vehicles have remained off the road.
Students taking the grade XII exams of Higher Secondary Education Board have been particularly affected as they are forced to walk to their exams venue to lack of transportation.
Initially, the Samaj had said it would ease the bandh and allow vehicles used by the students till 10 am in view of the exams. However, demonstrators have started stopping all vehicles on the road now.
Chhetri Samaj leader Ram Kumar Chhetri said, we were forced to impose the bandh more strictly as the state took our plan of easing out the bandh till 10 am as our weakness and started arresting our cadres demonstrating peacefully.
Chhetri claimed hundreds of demonstrators have been arrested from various places including Kalanki, Putalisadak and Chabahil.
Chhetri Samaj general secretary Kumar Khadka claimed, the state has already 1100 of our cadres.
The state has suppressed us so much that we might have to think about imposing an indefinite bandh, said Khadka.
Large number of security personnel have been deployed on the streets. Many demonstrators who tried to stop vehicles have been arrested by police.
Chettri Samaj activists are demonstrating at various places including Kalanki, Chabahil, Koteshwar and Gongabu.
Chhetri Samaj called the bandh demanding indigenous identity to Chhetris, reservation in state agencies and a different Khas Chhetri state. nepalnews.com
Students taking the grade XII exams of Higher Secondary Education Board have been particularly affected as they are forced to walk to their exams venue to lack of transportation.
Initially, the Samaj had said it would ease the bandh and allow vehicles used by the students till 10 am in view of the exams. However, demonstrators have started stopping all vehicles on the road now.
Chhetri Samaj leader Ram Kumar Chhetri said, we were forced to impose the bandh more strictly as the state took our plan of easing out the bandh till 10 am as our weakness and started arresting our cadres demonstrating peacefully.
Chhetri claimed hundreds of demonstrators have been arrested from various places including Kalanki, Putalisadak and Chabahil.
Chhetri Samaj general secretary Kumar Khadka claimed, the state has already 1100 of our cadres.
The state has suppressed us so much that we might have to think about imposing an indefinite bandh, said Khadka.
Large number of security personnel have been deployed on the streets. Many demonstrators who tried to stop vehicles have been arrested by police.
Chettri Samaj activists are demonstrating at various places including Kalanki, Chabahil, Koteshwar and Gongabu.
Chhetri Samaj called the bandh demanding indigenous identity to Chhetris, reservation in state agencies and a different Khas Chhetri state. nepalnews.com
संविधानको नाम ‘नेपालको संविधान’
संविधान अघि शान्ति प्रक्रिया पूरा गरिने
काठमाडौं, ५ जेठ
नयाँ बन्ने संविधानको नाम ‘नेपालको संविधान’ रहने भएको छ । संविधानसभाका लागि ८ दिनमात्र बाँकी रहँदा उपसमितिले यस्तो सहमति जुटाएको हो । संविधान निर्माणका क्रममा देखिएका विवादहरूको अन्त्यका लागि गठन भएको संवैधानिक समिति अन्तर्गतको विवाद उपसमितिको बिहीबार बसेको बैठकमा संविधानको नामसहित ६ वटा बुँदामा सहमति कायम भएको छ ।
एनेकपा माओवादीका अध्यक्ष पुष्पकमल दाहालसहित समितिका सबै सदस्य उपस्थित बैठकमा नयाँ संविधानको नाम ‘नेपालको संविधान’ मात्र राख्ने सहमति भएको हो । यसअघि एनेकपा माओवादी, नेपाली कांग्रेस, नेकपा एमालेसहित अन्य दलले संविधानको विभिन्न नाम प्रस्ताव गरेका थिए ।
दलहरूले प्रस्ताव गरेको संविधानका नामहरूमा नेपालको संविधान २०६७, समाजवाद उन्मुख गणतन्त्र नेपालको संविधान,२०६७, संघीय गणतन्त्र नेपालको संविधान २०६७, जनताको संघीय गणतन्त्र नेपालको संविधान २०६७, गणतन्त्र नेपालको संविधान २०६७ रहेका थिए । तर बिहीबार बसेको बैठकमा संविधानको नामको अघि या पछि केही पनि उल्लेख गर्नुनपर्ने गरी सहमति कायम भएको हो ।
त्यस्तै उपसमितिको बैठकमा शान्ति प्रक्रिया पूरा भएपछि संविधान जारी गर्ने विषयमा पनि दलहरूबीच सहमति कायम भएको छ । पहिले माओवादीले शान्तिप्रक्रिया र संविधान निर्माण सँगसँगै हुनुपर्ने अडानसहित नयाँ संविधानमा जनमुक्ति सेनालाई कहीँ न कहीँ उल्लेख गरिनुपर्ने अडान राख्दै आएको थियो । शिविरमा रहेका लडाकुहरूको पुनःस्थापन, व्यवस्थापन र समायोजन लगायतको शान्तिप्रक्रियाका कार्यहरू टुंगो लागेपछि मात्र नयाँ संविधान जारी हुने भएकाले सोसम्बन्धी विषय नयाँ संविधानमा राख्न नपर्ने हुँदा राष्ट्रिय हितको संरक्षण समितिको प्रतिवेदनमा रहेको यससम्बन्धी टुंगो लाग्न बाँकी विषयलाई विवादको सूचीबाट हटाइएको उपसमितिका सदस्य अग्नि खरेलले जानकारी दिए ।
काठमाडौं, ५ जेठ
नयाँ बन्ने संविधानको नाम ‘नेपालको संविधान’ रहने भएको छ । संविधानसभाका लागि ८ दिनमात्र बाँकी रहँदा उपसमितिले यस्तो सहमति जुटाएको हो । संविधान निर्माणका क्रममा देखिएका विवादहरूको अन्त्यका लागि गठन भएको संवैधानिक समिति अन्तर्गतको विवाद उपसमितिको बिहीबार बसेको बैठकमा संविधानको नामसहित ६ वटा बुँदामा सहमति कायम भएको छ ।
एनेकपा माओवादीका अध्यक्ष पुष्पकमल दाहालसहित समितिका सबै सदस्य उपस्थित बैठकमा नयाँ संविधानको नाम ‘नेपालको संविधान’ मात्र राख्ने सहमति भएको हो । यसअघि एनेकपा माओवादी, नेपाली कांग्रेस, नेकपा एमालेसहित अन्य दलले संविधानको विभिन्न नाम प्रस्ताव गरेका थिए ।
दलहरूले प्रस्ताव गरेको संविधानका नामहरूमा नेपालको संविधान २०६७, समाजवाद उन्मुख गणतन्त्र नेपालको संविधान,२०६७, संघीय गणतन्त्र नेपालको संविधान २०६७, जनताको संघीय गणतन्त्र नेपालको संविधान २०६७, गणतन्त्र नेपालको संविधान २०६७ रहेका थिए । तर बिहीबार बसेको बैठकमा संविधानको नामको अघि या पछि केही पनि उल्लेख गर्नुनपर्ने गरी सहमति कायम भएको हो ।
त्यस्तै उपसमितिको बैठकमा शान्ति प्रक्रिया पूरा भएपछि संविधान जारी गर्ने विषयमा पनि दलहरूबीच सहमति कायम भएको छ । पहिले माओवादीले शान्तिप्रक्रिया र संविधान निर्माण सँगसँगै हुनुपर्ने अडानसहित नयाँ संविधानमा जनमुक्ति सेनालाई कहीँ न कहीँ उल्लेख गरिनुपर्ने अडान राख्दै आएको थियो । शिविरमा रहेका लडाकुहरूको पुनःस्थापन, व्यवस्थापन र समायोजन लगायतको शान्तिप्रक्रियाका कार्यहरू टुंगो लागेपछि मात्र नयाँ संविधान जारी हुने भएकाले सोसम्बन्धी विषय नयाँ संविधानमा राख्न नपर्ने हुँदा राष्ट्रिय हितको संरक्षण समितिको प्रतिवेदनमा रहेको यससम्बन्धी टुंगो लाग्न बाँकी विषयलाई विवादको सूचीबाट हटाइएको उपसमितिका सदस्य अग्नि खरेलले जानकारी दिए ।
We'll fix integration number, categorize combatants by May 28: Dahal
KATHMANDU, May 22: UCPN (Maoist) Chairman Pushpa Kamal Dahal has conveyed to the Nepali Congress (NC) that they will determine the number of combatants to be integrated in security agencies and categorize them for integration and rehabilitation, before May 28.
In his bid to solicit NC support for extension of the CA´s term, Dahal also said the Maoists would agree to joint monitoring teams comprising security personnel and Maoist army personnel for all the cantonments, to help bring the cantonments practically under the control of the Special Committee.
However, during his meeting with NC President Sushil Koirala at the latter´s residence at Maharajgunj, the Maoist chairman said they are not in a position to hand over weapons to the government as demanded by the NC unless all issues are settled.
On the NC´s demand for resignation of the prime minister to pave the way for a consensus government, Dahal told the NC leadership that it would be difficult to look for a new government at the moment as the incumbent government was formed at Maoist initiative, according to an NC leader. “Withdrawing support from the government immediately would put us in a difficult position,” the leader quoted Dahal as saying.
Dahal said it was not possible to fulfill all the demands of NC before May 28 as they are running short of time.
In reply, Koirala reiterated that the NC cannot support extension of the CA´ term unless its 10-point demand is met by May 24. He also stressed that the Maoists must be prepared to severe any links with arms and combatants right away and form a national consensus government of all major parties to deliver peace and a constitution.
Koirala asked Dahal to be responsible towards implementing all agreements reached in the past in regard to the peace process and constitution. Koirala was accompanied by Vice-president Ram Chandra Paudel, Dr Ram Sharan Mahat and Dr Minendra Rijal during the meeting.
The meeting between Koirala and Dahal came a day after the NC made its stance on CA term extension public at a mass rally in Kathmandu. Dahal had reached Koirala´s residence after a meeting Prime Minister Jhalanath Khanal at Baluwatar.
The meeting between Koirala and Dahal started at 8:45 a.m. and lasted about an hour. After the meeting, NC senior leaders gathered at Koirala´s residence to develop the party´s official position on Dahal´s proposal.
NC leaders are optimistic that talks will yield results. "Things are moving positively. Maoists have shown flexibility on number of stances," said NC leader Gopal Man Shrestha.
Later in the afternoon, NC Vice-president Paudel, General Secretary Krishna Prasad Sitaula and Dr Rijal had a separate meeting with Prime Minister Khanal at Baluwatar.
The meeting with Khanal dwelled on NC´s 10-point demand on the peace process, constitution drafting and formation of a national consensus government before May 28 -- the statutory deadline for the new constitution.
Assuring that the government is committed to concluding the peace process at the earliest, Prime Minister Khanal had asked NC leaders for support to extend the CA. The NC leaders maintained that the government and the Maoists first address their demands by May 24 to create a conducive environment for CA extension.
The meeting between Khanal and NC leaders came shortly after the ruling parties agreed to bring a common proposal on the peace and constitution drafting processes.
In his bid to solicit NC support for extension of the CA´s term, Dahal also said the Maoists would agree to joint monitoring teams comprising security personnel and Maoist army personnel for all the cantonments, to help bring the cantonments practically under the control of the Special Committee.
However, during his meeting with NC President Sushil Koirala at the latter´s residence at Maharajgunj, the Maoist chairman said they are not in a position to hand over weapons to the government as demanded by the NC unless all issues are settled.
On the NC´s demand for resignation of the prime minister to pave the way for a consensus government, Dahal told the NC leadership that it would be difficult to look for a new government at the moment as the incumbent government was formed at Maoist initiative, according to an NC leader. “Withdrawing support from the government immediately would put us in a difficult position,” the leader quoted Dahal as saying.
Dahal said it was not possible to fulfill all the demands of NC before May 28 as they are running short of time.
In reply, Koirala reiterated that the NC cannot support extension of the CA´ term unless its 10-point demand is met by May 24. He also stressed that the Maoists must be prepared to severe any links with arms and combatants right away and form a national consensus government of all major parties to deliver peace and a constitution.
Koirala asked Dahal to be responsible towards implementing all agreements reached in the past in regard to the peace process and constitution. Koirala was accompanied by Vice-president Ram Chandra Paudel, Dr Ram Sharan Mahat and Dr Minendra Rijal during the meeting.
The meeting between Koirala and Dahal came a day after the NC made its stance on CA term extension public at a mass rally in Kathmandu. Dahal had reached Koirala´s residence after a meeting Prime Minister Jhalanath Khanal at Baluwatar.
The meeting between Koirala and Dahal started at 8:45 a.m. and lasted about an hour. After the meeting, NC senior leaders gathered at Koirala´s residence to develop the party´s official position on Dahal´s proposal.
NC leaders are optimistic that talks will yield results. "Things are moving positively. Maoists have shown flexibility on number of stances," said NC leader Gopal Man Shrestha.
Later in the afternoon, NC Vice-president Paudel, General Secretary Krishna Prasad Sitaula and Dr Rijal had a separate meeting with Prime Minister Khanal at Baluwatar.
The meeting with Khanal dwelled on NC´s 10-point demand on the peace process, constitution drafting and formation of a national consensus government before May 28 -- the statutory deadline for the new constitution.
Assuring that the government is committed to concluding the peace process at the earliest, Prime Minister Khanal had asked NC leaders for support to extend the CA. The NC leaders maintained that the government and the Maoists first address their demands by May 24 to create a conducive environment for CA extension.
The meeting between Khanal and NC leaders came shortly after the ruling parties agreed to bring a common proposal on the peace and constitution drafting processes.
Hydropower companies put brake to rally
HIMALAYAN NEWS SERVICE
KATHMANDU: The losses in share prices of listed hydropower companies stalled secondary market’s rally this week.
The stock market that had witnessed minimal surge last week again went down by 1.61 points in the week’s trading as the hydropower subgroup lost 93.89 points.
The market had just started to look up when the hydropower companies put an end to the recovery. Butwal Power Company alone lost Rs 194 in a unit share this week.
The announcement of Chilime Hydropower’s public offering from next week contributed to the decline in the company’s share prices. A unit share of Chilime is priced at around Rs 900 in the secondary market while it will be available at Rs 408.36, after adding premium. The market reacted to the public offering by pulling the price of Chilime’s share.
Sunday morning the market opened at 346.44 points and it closed at 349.22 points. The next day also Nepse inched a little up to 350.62 points, but on Wednesday it retreated to 346.91 points. By the end of the trading week, the secondary market index turned back to 344.83 points. This week, the trading floor observed 358,827 unit shares of 117 companies worth Rs 76.76 million being traded through 6,160 transactions in the four trading days. This is 18.91 per cent decline in the transaction volume in comparison to a week ago.
The sensitive index — measuring the performance of Class ‘A’ companies — increased by 0.1 point reaching 85.46 points on the week’s trading. Among the total transactions, the trading of class ‘A’ companies consisted of 60.83 per cent amounting to Rs 46.6 million. The float index went down by 0.03 point to 29.13 points.
Commercial banks earned 3.37 points as the major banks were able to gain in the week’s trading. Similarly, Bishal Bazaar earned Rs 57 per unit share pushing trading subgroup up by 5.71 points, while finance companies went up by 0.46 point.
Soaltee Hotel pulled hotel subgroup down by 10.18 points. Nepal Telecom pulled the others subgroup by 4.7 points and Unilever’s loss of Rs 110 on a unit share also brought the manufacturing subgroup down by 10.18 points. Development banks and insurance subgroup lost 1.61 points and 1.86 points, respectively.
People’s Finance (Rs 8.82 million), Standard Chartered Bank (Rs 6.25 million), Bank of Kathmandu (Rs 6.04 million) Chilime Hydropower (Rs 5.47 million) and Progressive Finance (Rs 2.95 million) were the top five performers of the week.
KATHMANDU: The losses in share prices of listed hydropower companies stalled secondary market’s rally this week.
The stock market that had witnessed minimal surge last week again went down by 1.61 points in the week’s trading as the hydropower subgroup lost 93.89 points.
The market had just started to look up when the hydropower companies put an end to the recovery. Butwal Power Company alone lost Rs 194 in a unit share this week.
The announcement of Chilime Hydropower’s public offering from next week contributed to the decline in the company’s share prices. A unit share of Chilime is priced at around Rs 900 in the secondary market while it will be available at Rs 408.36, after adding premium. The market reacted to the public offering by pulling the price of Chilime’s share.
Sunday morning the market opened at 346.44 points and it closed at 349.22 points. The next day also Nepse inched a little up to 350.62 points, but on Wednesday it retreated to 346.91 points. By the end of the trading week, the secondary market index turned back to 344.83 points. This week, the trading floor observed 358,827 unit shares of 117 companies worth Rs 76.76 million being traded through 6,160 transactions in the four trading days. This is 18.91 per cent decline in the transaction volume in comparison to a week ago.
The sensitive index — measuring the performance of Class ‘A’ companies — increased by 0.1 point reaching 85.46 points on the week’s trading. Among the total transactions, the trading of class ‘A’ companies consisted of 60.83 per cent amounting to Rs 46.6 million. The float index went down by 0.03 point to 29.13 points.
Commercial banks earned 3.37 points as the major banks were able to gain in the week’s trading. Similarly, Bishal Bazaar earned Rs 57 per unit share pushing trading subgroup up by 5.71 points, while finance companies went up by 0.46 point.
Soaltee Hotel pulled hotel subgroup down by 10.18 points. Nepal Telecom pulled the others subgroup by 4.7 points and Unilever’s loss of Rs 110 on a unit share also brought the manufacturing subgroup down by 10.18 points. Development banks and insurance subgroup lost 1.61 points and 1.86 points, respectively.
People’s Finance (Rs 8.82 million), Standard Chartered Bank (Rs 6.25 million), Bank of Kathmandu (Rs 6.04 million) Chilime Hydropower (Rs 5.47 million) and Progressive Finance (Rs 2.95 million) were the top five performers of the week.
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