Monday, 31 May 2010 08:37
The Constituent Assembly (CA) secretariat has prepared a revised calendar of events for writing the constitution with a plan to promulgate new constitution on February 26, 2011, three months before the CA term expires, Rajdhani daily reported.
The CA extended its term by one year on May 28.
The new calendar of events will be made public after the parties and the CA approve it.
According to the revised calendar the CA secretariat has allocated two weeks for finalising the reports of eight thematic committees and another one month for the Constitutional Committee (CC) to compile all 11 reports.
Then, about three months have been allocated for collecting public suggestion on the initial draft of the constitution and another two months for compiling the reports of the public.
In December, the draft with suggestions from the people will be tabled at the CA and it will amend the draft based on the suggestion. And in January and February, clause-wise discussion and voting will take place.
The CA calendar of events, made public on December 29, 2008 for the first time, has been revised for ten times since then.
Source: http://www.nepalnews.com/main/index.php/news-archive/1-top-story/6443-ca-plans-to-complete-constitution-writing-by-february.html
Monday, May 31, 2010
Govt unveils IT Policy 2010
KATHMANDU, May 30: Eight years after the first information technology (IT) policy was issued, High Level Commission for Information Technology (HLCIT) on Sunday issued IT Policy 2010 with special provisions for outsourcing and expanding the use of IT.
Informing media persons about the new policy, Manohar Kumar Bhattarai, vice president of HLCIT, said Nepal holds a great potential to grab outsourcing jobs from other countries as the manpower here is 30 to 35 percent cheaper than in India.
“Due to time different with Europe and America, South Asian countries, including Nepal, are in a comfortable position to grab outsourcing jobs from Europe and America,” he added.
The new policy puts emphasis on information security and data protection and privacy in information technology. The IT Policy 2010 with 53 policies and strategies aims to enable IT sector so that it becomes successful in making significant contribution on Gross Domestic Product (GDP) in the near future.
The actual contribution of IT sector to GDP is still unknown.
Speaking on the occasion, Ramhari Aryal, secretary at the Ministry of Science and Technology hoped the implementation of the new IT Policy would help reduce existing digital divide in the country.
Conversion of rural information centers into multipurpose tele-centers, encouraging private sector to operate internet exchange and introduction of voice over internet protocol technology in rural areas are the major plans of action targeted for rural areas.
The new policy has identified IT sector as the knowledge-based industry and it includes the involvement of youth for employment generation as one of the major objectives. The policy suggests adopting a single window policy to attract domestic and foreign direct investment in the IT sector. The other provisions included in the policy are intellectual property rights and e-certification.
It has also announced policy-related and institutional framework to ease e-trade and e-commerce by promoting e-payment and gateway.
Juddha Bahadur Gurung, member of HLCIT, informed that Asian Development Bank has provided grant assistance of $25 million for the development of IT sector in Nepal.
The other issues that the new policy has emphasized are the promotion of information technology services and IT-enabled services, business process outsourcing, and development of digital content, animation, remote maintenance, backup operation and call centers.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19294
Informing media persons about the new policy, Manohar Kumar Bhattarai, vice president of HLCIT, said Nepal holds a great potential to grab outsourcing jobs from other countries as the manpower here is 30 to 35 percent cheaper than in India.
“Due to time different with Europe and America, South Asian countries, including Nepal, are in a comfortable position to grab outsourcing jobs from Europe and America,” he added.
The new policy puts emphasis on information security and data protection and privacy in information technology. The IT Policy 2010 with 53 policies and strategies aims to enable IT sector so that it becomes successful in making significant contribution on Gross Domestic Product (GDP) in the near future.
The actual contribution of IT sector to GDP is still unknown.
Speaking on the occasion, Ramhari Aryal, secretary at the Ministry of Science and Technology hoped the implementation of the new IT Policy would help reduce existing digital divide in the country.
Conversion of rural information centers into multipurpose tele-centers, encouraging private sector to operate internet exchange and introduction of voice over internet protocol technology in rural areas are the major plans of action targeted for rural areas.
The new policy has identified IT sector as the knowledge-based industry and it includes the involvement of youth for employment generation as one of the major objectives. The policy suggests adopting a single window policy to attract domestic and foreign direct investment in the IT sector. The other provisions included in the policy are intellectual property rights and e-certification.
It has also announced policy-related and institutional framework to ease e-trade and e-commerce by promoting e-payment and gateway.
Juddha Bahadur Gurung, member of HLCIT, informed that Asian Development Bank has provided grant assistance of $25 million for the development of IT sector in Nepal.
The other issues that the new policy has emphasized are the promotion of information technology services and IT-enabled services, business process outsourcing, and development of digital content, animation, remote maintenance, backup operation and call centers.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19294
Prominent citizens decline govt awards
KATHMANDU, May 30: The government decision to honor prominent personalities from various sections of society with medals has been widely criticized.
A list of over 200 personalities was announced on the occasion of the Republic Day on Saturday for their distinctive roles in their respective sectors for the betterment of society. President Dr Ram Baran Yadav is to confer the awards on them.
Chief Justice (CJ) Ram Prasad Shrestha has seriously objected to the government decision to honor some judges with the awards without his knowledge.
"My attention has been drawn by the cabinet decision to award the incumbent judges with medals without coordinating with the chief justice, who is also the chief of the judiciary and the Judicial Council, and without taking advice from him about the level of performances of the judges, and what type of contributions their works made to society," reads a statement issued by the chief justice.
The government has recommended to the president to award judges Nilkantha Upadhyaya, Nawaraj Upadhyaya, Shyam Prasad Lawati, and Mohammad Juned Ajad with Suprabal Janasewa Shree (third class).
In the statement, Shrestha stated the awardees are those who have not made significant contribution in the field of judiciary, and that has discouraged those who have been making special contributions. The chief justice has stated that the government move has reduced the state honor to a thing of mockery.
Other personalities from various sectors have refused to accept the state medals. Journalists Kanak Mani Dixit and Yubaraj Ghimire, among others, have thanked the government for deciding to award the medals but declined to accept them.
"At a time of deep political polarization, I think it is inappropriate to accept this recognition," Dixit said, adding, "I would like to thank the government for the honor but am unable to accept it."
Similarly, in his statement, Ghimire said, "As it would go against my norms and wishes to accept the medal, I express my unwillingness, while thanking the president once again, to accept the medal."
Comedian duo Hari Bansha Acharya and Madan Krishna Shrestha also declined to accept the medals. Likewise, Dr Mahesh Maskey also refused to accept the award.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19296
A list of over 200 personalities was announced on the occasion of the Republic Day on Saturday for their distinctive roles in their respective sectors for the betterment of society. President Dr Ram Baran Yadav is to confer the awards on them.
Chief Justice (CJ) Ram Prasad Shrestha has seriously objected to the government decision to honor some judges with the awards without his knowledge.
"My attention has been drawn by the cabinet decision to award the incumbent judges with medals without coordinating with the chief justice, who is also the chief of the judiciary and the Judicial Council, and without taking advice from him about the level of performances of the judges, and what type of contributions their works made to society," reads a statement issued by the chief justice.
The government has recommended to the president to award judges Nilkantha Upadhyaya, Nawaraj Upadhyaya, Shyam Prasad Lawati, and Mohammad Juned Ajad with Suprabal Janasewa Shree (third class).
In the statement, Shrestha stated the awardees are those who have not made significant contribution in the field of judiciary, and that has discouraged those who have been making special contributions. The chief justice has stated that the government move has reduced the state honor to a thing of mockery.
Other personalities from various sectors have refused to accept the state medals. Journalists Kanak Mani Dixit and Yubaraj Ghimire, among others, have thanked the government for deciding to award the medals but declined to accept them.
"At a time of deep political polarization, I think it is inappropriate to accept this recognition," Dixit said, adding, "I would like to thank the government for the honor but am unable to accept it."
Similarly, in his statement, Ghimire said, "As it would go against my norms and wishes to accept the medal, I express my unwillingness, while thanking the president once again, to accept the medal."
Comedian duo Hari Bansha Acharya and Madan Krishna Shrestha also declined to accept the medals. Likewise, Dr Mahesh Maskey also refused to accept the award.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19296
Janaandolan victims feel insulted
KATHMANDU, May 31: Jaya Tamrakar was busy in her daily chores at her home in Naubise, Dhading, Sunday morning. All of a sudden, one of her neighbors came with a newspaper and informed her that the government has decided to confer state honor on a police officer who allegedly shot dead her only son Sagun during the Janaandolan II four years ago.
"After that I couldn´t stop myself and I rushed to Kathmandu without even having food," Tamrakar said at the parliamentary party office of the Nepali Congress (NC) in Singha Durbar. She arrived at the NC office in the afternoon and expressed her serious objection to the government decision.
She felt insulted to learn that the government has decided to award Deputy Inspector General (DIG) Durja Kumar Rai, who has been accused of brutally suppressing the protesters during the people´s movement in 2006, with state honor.
Rai is among 269 personalities selected by the government on the Second Republic Day Sunday for the state honors for their ´distinctive contribution to the country´.
Tamrakar said Rai was the one who shot dead her son among three other innocent persons at Kalanki. Sagun was killed on April 20, 2006, when the movement against the autocratic monarchy reached its climax. After four days of his killing, then king Gyanendra had bowed down to the people.
The government formed after the success of the movement declared Sagun a martyr and suspended Rai for suppressing the movement. He was indicted by the Rayamajhi Commission formed by the government to probe into the misuse of power during the king´s to suppress the movement.
When NC parliamentary party (PP) leader Ram Chandra Poudel came there, Tamrakar along with other people who lost their beloved ones during the movement surrounded Poudel and demanded that the government decision to honor Rai be revoked.
"The government has added insult to our injury by promoting and honoring the culprits like Rai, let alone remembering we martyrs´ family members on the Republic Day," she burst into tears inside the NC office.
Saying that he was unaware of the government decision, Poudel assured them to study the matter in detail and do something about it. He telephoned Home Minister Bhim Rawal from his office right in front of the victims. "What can I do as the previous government had already promoted the same officer [Rai]?," Rawal reportedly told Poudel.
"We will launch protests against the government if the authority concerned fails to correct it," said Rudra Joshi, a member of the Coordination Committee of Injured and Martyrs´ Family Members.
According to Drona Prasad Lamichhane, whose father Yam Lal Lamichhane, 51, was killed during the movement in Bardiya, members of the committee had protested Rai´s promotion. The previous Maoist-led government had promoted him from SSP to DIG.
According to him, Loktantrik Yuva Samaj (Democratic Youth Society) in Kalanki, which was formed after the people´s movement, has planned to stage protests at Kalanki against the government decision Monday morning.
Martyrs´ family members and injured said they will meet President Dr Ram Baran Yadav, Prime Minister Madhav Nepal and ministers to submit protest letters.
NC parliamentarians said they will raise the matter strongly in the parliament on Monday. "We will strongly object to it in the parliament meeting and press the leaders to correct it," lawmaker Usha Gurung told Tamrakar and others at the NC office.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19301
"After that I couldn´t stop myself and I rushed to Kathmandu without even having food," Tamrakar said at the parliamentary party office of the Nepali Congress (NC) in Singha Durbar. She arrived at the NC office in the afternoon and expressed her serious objection to the government decision.
She felt insulted to learn that the government has decided to award Deputy Inspector General (DIG) Durja Kumar Rai, who has been accused of brutally suppressing the protesters during the people´s movement in 2006, with state honor.
Rai is among 269 personalities selected by the government on the Second Republic Day Sunday for the state honors for their ´distinctive contribution to the country´.
Tamrakar said Rai was the one who shot dead her son among three other innocent persons at Kalanki. Sagun was killed on April 20, 2006, when the movement against the autocratic monarchy reached its climax. After four days of his killing, then king Gyanendra had bowed down to the people.
The government formed after the success of the movement declared Sagun a martyr and suspended Rai for suppressing the movement. He was indicted by the Rayamajhi Commission formed by the government to probe into the misuse of power during the king´s to suppress the movement.
When NC parliamentary party (PP) leader Ram Chandra Poudel came there, Tamrakar along with other people who lost their beloved ones during the movement surrounded Poudel and demanded that the government decision to honor Rai be revoked.
"The government has added insult to our injury by promoting and honoring the culprits like Rai, let alone remembering we martyrs´ family members on the Republic Day," she burst into tears inside the NC office.
Saying that he was unaware of the government decision, Poudel assured them to study the matter in detail and do something about it. He telephoned Home Minister Bhim Rawal from his office right in front of the victims. "What can I do as the previous government had already promoted the same officer [Rai]?," Rawal reportedly told Poudel.
"We will launch protests against the government if the authority concerned fails to correct it," said Rudra Joshi, a member of the Coordination Committee of Injured and Martyrs´ Family Members.
According to Drona Prasad Lamichhane, whose father Yam Lal Lamichhane, 51, was killed during the movement in Bardiya, members of the committee had protested Rai´s promotion. The previous Maoist-led government had promoted him from SSP to DIG.
According to him, Loktantrik Yuva Samaj (Democratic Youth Society) in Kalanki, which was formed after the people´s movement, has planned to stage protests at Kalanki against the government decision Monday morning.
Martyrs´ family members and injured said they will meet President Dr Ram Baran Yadav, Prime Minister Madhav Nepal and ministers to submit protest letters.
NC parliamentarians said they will raise the matter strongly in the parliament on Monday. "We will strongly object to it in the parliament meeting and press the leaders to correct it," lawmaker Usha Gurung told Tamrakar and others at the NC office.
Source: http://www.myrepublica.com/portal/index.php?action=news_details&news_id=19301
Monday, January 25, 2010
Praying for a 'happy accident'
Praying for a 'happy accident'
by: Bhim Prasad Bhurtel
None of the economic theories work in Nepal
The Nepali economy has been somewhat jittery in recent months. There has been a liquidity crunch for the past five months while inflation has been tormenting the public for the past 18 months. The Balance of Payment (BoP) deficit reached Rs 20 billion due to diminishing growth rate in remittance inflow caused by global financial meltdown and deteriorating exports and escalating imports in the first quarter of fiscal year 2009/10. Foreign trade deficit reached nearly Rs 100 billion and export-import ratio soared to 84:16. The symptoms indicate that the economy is headed for a serious crisis.
The government recently formed a taskforce headed by the National Planning Commission’s vice chairman to formulate counter policy measures to mitigate possible crisis. Nepal Rastra Bank (NRB) issued a new directive to commercial banks and financial institutions to fix a ceiling on real estate and housing lending to prevent possible financial systemic failure. NRB is also mulling to hike up interest rates. Meanwhile, controversies are rising over NRB’s directive to forestall up-and-coming systemic failure of the financial system. Some of the economists believe that NRB took a hasty decision and it will directly affect the growing housing and real estate sector in the short run and the whole banking and financial system eventually. Whatever may be the arguments, it is apparent that the real estate and housing bubble will create problems in the economy in the future.
Although I am not a fan of Lucacian rational expectation hypothesis, it is worth reflecting upon the theory. The hypothesis is one of the important monetary economic theories and was developed by Nobel Laureate Robert Lucas in the aftermath of the oil crisis of the 1970s. The major argument of the hypothesis is that monetary policy never works. I doubt whether NRB’s directive will help prevent a possible financial system collapse.
First, our economy has been perennially experiencing low growth. The incentives to make business investments are very limited in the real sector as the economies of scale do not work in an entrepreneur’s favor due to the limited size of our economy. Our market is in no position to compete with the huge markets of India and China. Political instability and uncertainties also contribute in limiting private sector investment in the real sector. Investment in infrastructure such as hydropower, highways and railways are a few possible alternatives but policy ambiguity, long gestation period, uncertainties and risks due to economic and non-economic factors act as retarding factors.
The major argument of the Lucacian hypothesis is that monetary policy never works. I doubt whether NRB’s directive will help prevent a possible financial system collapse.Besides, our economy is suffering from supply deficiency due to various bottlenecks. The counter policy measures of demand-deficient economy may not work in a supply-deficient economy. Economic stimulus ignites the economy at times of effective demand deficiency. However, our case is totally different when compared to others because of supply deficiency, liquidity crunch with high inflation and BoP deficits.
Second, the main factor for an increase in investments on real estate and housing are availability of easy and cheap bank loans due to inward remittances and the lack of real sector investment incentives and opportunities. So, remittance is one of the key factors leading to asset price bubble in real estate and housing. Our remittance is almost the size of our budget contributing to maintain gross national consumption and maintain BoP. Due to the lack of investment incentives and innovations in diversifying the portfolio management in real and productive sectors, the main share of remittance is spent on consumption. Remittance is substantially contributing to the mushrooming of the banking and financial institutions. Banks and financial institutions’ portfolio on real estate and housing has reached Rs 114 billion, which is 12 percent of gross domestic product of our country. The cooperative sector’s portfolio on the same is nearly Rs 35 billion.
Third, donors and INGOs are spending a substantial amount of money in Nepal. A total of Rs 12 billion has been spent to support the constitution-drafting process. Similarly, donors and I/NGOs have been investing a huge amount of money in other development sectors. A remarkable portion of their spending goes in the form of salaries of Nepali staff, which is spent partly on consumption and the rest on investment on real estate and housing.
Fourth, cooperatives such as Oriental, Guna and Kantipur are as huge as commercial banks in terms of their asset and liabilities, according to a recent remark of the NRB governor. They are not regulated by NRB. Their portfolio is huge on the real estate sector. They will continuously invest in real estate and housing in the future and it will nullify the effects of the policy measures that NRB has come up with.
Fifth, the open border with India causes problems in money and capital market and BoP. Imports are paid through the banking system. Conversely, more than 40 percent exports to India are done through smuggling causing extreme pressure on our BoP. The underground capital flight also deteriorates BoP.
Lastly, our investors’ behavior is irrational. Provincial capitals will be established in certain areas after we delineate federal units which will lead to a rise in real estate prices by another 300-400 percent because people will rush to invest in these capitals.
What are the solutions?
First of all, to monitor the financial and banking system and keep it away from danger, an Early Warning System should be formulated in coordination with the Ministry of Finance, NRB and the association of banking and financial institutions. Second, fiscal measures in coordinating monetary measures should be applied. Tax and non-tax measures should be applied to control the real estate asset pricing bubble. Similarly, remittance should be channeled to productive sectors, Diaspora Bond should be issued to raise funds for ambitious infrastructure projects, which also could increase employment. Third, monetary measures should put a ceiling on real estate and housing lending and interest rates.
Likewise, monetary and capital market legislations and policy should be simplified to attract development investment. Fourth, real sector development incentives should be given to private sector investment through fiscal measures such as subsidies and tax exemptions. The political and security situation must also be improved. Fifth, the market should be monitored and smuggling and underground businesses should be controlled. Sixth, necessary legislation and guidelines should be formulated in giving mandate to NRB for regulation of cooperative sector. Seventh, national economic integration should be done by removing the supply side bottlenecks. The policy should concentrate to expand the supply side and to eliminate economic repression and market imperfections.
Last but not least, the present situation definitely demands policy-based precautionary measures and bold steps. However, they must not overlap each other. One policy measure to solve a problem should not augment another problem in the economy. For example, solving liquidity crunch should not create a problem of toxic mortgage. I may sound cynical but I believe that even such policy measures might not work well because none of economic laws are applicable in the Nepali economy. I think, as Lucas thought, if policies work here, that will simply be a happy accident.
Tuesday, January 12, 2010
Earthquake Day Walkathon March
You are cordially invited to join Earthquake Day Walkathon March organized by Nepal Insurance Professionals Society (NIPS) to be held on Saturday 16th January, 2010 (2nd Magh, 2066 B. S.).
Venue: Maitighar Mandala, Maitighar to Bhugol Park, New Road, Kathmandu
Time: 8.30 AM.
Chief Guest: Prof. Dr. Fatta Bdr. K. C., Chairman, Beema Samiti (Insurance Board of Nepal)
Venue: Maitighar Mandala, Maitighar to Bhugol Park, New Road, Kathmandu
Time: 8.30 AM.
Chief Guest: Prof. Dr. Fatta Bdr. K. C., Chairman, Beema Samiti (Insurance Board of Nepal)
Thursday, January 7, 2010
Nepal to procure mln-dollar bullet-proof car for president
KATHMANDU, Jan. 6 (Xinhua) -- The Nepali president's office is preparing to procure a special bullet-proof car at a cost of almost 1 million U.S. dollars for President Ram Baran Yadav and future presidents' use possibly within this fiscal year, the Annapurna Post daily reported on Wednesday.
"We are consulting manufacturing companies for purchasing the car," said Baman Prasad Nyaupane, secretary at the President's office.
The President's office is talking directly with the manufacturers as there is no authorized dealer for such high end cars in Nepal.
Moreover, the companies have been setting their own specifications for a car to be used by a head of state. Such car is not available at manufactured state, but needs to be ordered.
Yadav has been using a bullet proof car used by former King Gyanendra Shah at present. The government started the procurement plan for a new vehicle after it felt the necessity of an additional bullet proof vehicle for the president for security reasons.
Former King Shah had ordered a Toyota car at the cost of 30 million Nepali rupees (some 405,405 U.S. dollars) during his direct rule in 2005 from the budget earmarked to the army.
However, he was not able to use the car, as he was ousted before the car arrived.
Source: http://news.xinhuanet.com/english/2010-01/06/content_12764208.htm
Subscribe to:
Posts (Atom)
