Prime Minister K P Sharma Oli – Reporters Nepal https://nepalireporter.com Impart Educate Propel Tue, 30 Jul 2019 11:09:49 +0000 en-US hourly 1 https://wordpress.org/?v=6.2.6 https://nepalireporter.com/wp-content/uploads/2023/01/cropped-RN_Logo-32x32.png Prime Minister K P Sharma Oli – Reporters Nepal https://nepalireporter.com 32 32 PM Oli leaving for Singapore for ‘medical checkup and rest’ https://nepalireporter.com/2019/07/256884 https://nepalireporter.com/2019/07/256884#respond Tue, 30 Jul 2019 11:09:49 +0000 https://nepalireporter.com/?p=256884 PM Oli in Vietnam, Cambodia, PM Oli healthPrime Minister K P Sharma Oli is leaving for Singapore for his regular medical check as advised by his personal physicians. Beside regular checkup, he will also take rest for a few days.]]> PM Oli in Vietnam, Cambodia, PM Oli health

KATHMANDU, July 30: Prime Minister K P Sharma Oli is leaving for Singapore for his regular medical check as advised by his personal physicians. Beside regular checkup, he will also take rest for a few days.

PM Oli is going to Singapore not only for medical checkups but he will also take rest for a few days,” Oli’s personal physician Dr. Divya Singh told Onlinekhabar.

The 67-year-old prime minister keeps visiting outside the country for regular tests as he suffers from kidney problems. He had undergone a kidney transplant surgery at the Apollo Hospital in New Delhi in 2007.

“The prime minister’s schedule is hectic but his body is in need of a rest. Therefore, I advised him to go for a checkup and rest,” said Singh.

“But the hospital is yet to be finalized.”

According to reports, PM Oli will leave to the island city-state on August 3. However, the date has not been officially finalized.

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Frustrated PM Oli preparing to reshuffle cabinet https://nepalireporter.com/2019/07/256605 https://nepalireporter.com/2019/07/256605#respond Sun, 14 Jul 2019 06:07:11 +0000 https://nepalireporter.com/?p=256605 Indian Embassy letter controversyBut now, as question on the competence of his administration has been seriously raised following the India Embassy’s letter controversy, frustrated prime minister has become more serious and has no choice but to make changes in his office.]]> Indian Embassy letter controversy

KATHMANDU, July 14: Prime Minister K P Sharma Oli has started internal homework to reshuffle the cabinet as soon the current fiscal year ends, a high placed source said.

PM Oli had started discussion with Chair Pushpa Kamal Dahal on making changes in the cabinet after the budget for the fiscal year 2019/20 was unveiled.

Dahal, in mid-June, had said that although they were exploring the possibilities it was up to the prime minister and cabinet would be reshuffled whenever he wanted.

But now, as question on the competence of his administration has been seriously raised following the India Embassy’s letter controversy, frustrated prime minister has become more serious and has no choice but to make changes in his office.

INDIAN EMBASSY LETTER CONTROVERSY

After the government made it mandatory to carryout pesticide residue test on vegetables and fruits imported from Indian and other third countries on June 17, the border authorities blocked the passage of fruits and vegetables without first conducting laboratory test since the new decision required importers to acquire clearance from the Food Import Export Quality Certification Office and Plant Quarantine Office at customs checkpoints.

It resulted in a large consignment of vegetables and fruits queued up and stock in Indian side of the border at various checkpoints including Biratnagar, Birgunj, Bhairahawa and Nepalgunj as authorities at Nepali side lacked lab equipment and technical team–many were clueless.

This prompted the Indian Embassy to express serious concern over the new government policy as the lack of proper lab and equipment had left vegetables and fruits laden trucks stuck in the Indian side of the border while their product rotted due to the delays in obtaining lab certification.

The Indian Embassy had also dispatched a letter to the government requesting a halt to the pesticide residue test.

Two week after the decision, the government withdrew its decision to conduct pesticides tests on Indian imported vegetables. But the government’s decision to halt pesticide test on fruits and vegetables at custom points drew widespread criticisms for allowing untested fruits and veggies disregarding public health and even faced accusation for backtracking its previous decision under Indian pressure.

Responding to the criticisms, PM Oli said the government had not received any letter from the Indian Embassy, only to beg a public apology later after the letter came to public domain. The government had indeed received the letter but according to the PM, “the government officials had not informed him about the letter” which had made him “felt ashamed”.

Issues as such should have been channeled through the Ministry of Foreign Affairs (MoFA), but the ministries keeping him in dark about such significant matter of diplomatic importance have left PM Oli frustrated. And obviously, the weakness in homework on part of the government resulted in chaos in border incurring loss in million and disrupted supply and price in vegetable market.

Instead, the ministries blamed each other for keeping the prime minster in dark for long.

Minister for Industry, Commerce and Supply, Matrika Prasad Yadav said he was not informed about the letter by secretaries of his ministry while Minister for Agriculture and Livestock Chakrapani Khanal said the MoFA should be answerable for becoming failure to inform the prime minister about such development. Minister for Communication and Information Technology Gokul Banskota vented ire at the bureaucrats for misleading the prime minister.

The recent developments have made the already dissatisfied prime minister more frustrated with the ministries and his administration and question the competency of the ministers and secretaries.

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World Populations Day: Time to remain alert on population imbalance https://nepalireporter.com/2019/07/256528 https://nepalireporter.com/2019/07/256528#respond Thu, 11 Jul 2019 06:51:28 +0000 https://nepalireporter.com/?p=256528 World Population DayPrime Minster KP Sharma Oli has said it is imperative to capitalize the population as an opportunity for economic development and societal transformation in the country.]]> World Population Day

KATHMANDU, July 11: Prime Minster KP Sharma Oli has said it is imperative to capitalize the population as an opportunity for economic development and societal transformation in the country.

The important aspects of population have paramount impacts on economic growth and development plans and programmes, PM Oli said in a message delivered on the occasion of World Population Day, today.

He urged the concerned authorities and stakeholders to lay emphasis on reproductive management than control provided improvements are already visible in the life standards of the people.

He further urged to pay heed to management aspects keeping in mind the outcomes being made in the indicators of policy and education and health and employment opportunities to tame population growth by reducing reproductive rates.

The World Population Day is being observed across the globe today (on July 11) at the call of the United Nations.

“Nepal’s life expectancy has increased with immoderate decline in the rates of child mortality and mortality of people of all ages and currently there is majority of active population age group in the country. We should cash in on the window of opportunity”, the PM said in the message.

The trend of gender-based discrimination on girl child is gradually on the decline, he said however the ill-practice of sex selection in embryo or discrimination on birth is visible in society.

He also cautioned the possibility of demographic imbalance due to gender ratio of the child birth.

The government is cautious on providing opportunity of participation to the senior citizens by ensuring their economic independence, the PM said, adding the government has prioritized the safety nets of senior citizens from social, economic, family and residential aspects as well as their health service and fitness.

“The government has adopted the policy of zero tolerance to any forms of child labour and discrimination. Efforts are being made to bring negative changes in the indicators of development outcomes through malpractices such as child marriage. The incumbent government is committed to check the inhuman practice of child marriage”, the message reads.

Prime Minister Oli went on saying that the government was also effortful to enable environment for the active population to make optimum contribution to the socio-economic transformation of the country. RSS

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PM Oli unhappy as controversial Guthi Bill awaits final call https://nepalireporter.com/2019/06/256192 https://nepalireporter.com/2019/06/256192#respond Mon, 17 Jun 2019 11:21:09 +0000 https://nepalireporter.com/?p=256192 Guthi BillThe public disagreement against the proposed Guthi Bill at a time when the government has vowed to reclaim all the encroached lands by the next year and promising stern action against the land mafias has irked PM Oli.]]> Guthi Bill

KATHMANDU, June 19: Thousands of protesters have gathered at Maitighar Mandala demanding the cancelation of controversial Guthi Bill.

Following a public pressure from traditional Guthi supporters, stakeholders, opposition Nepali Congress and lawmakers from ruling Nepal Communist Party, the Ministry of Land Management, Cooperatives and Poverty Alleviation withdrew the bill through a press conference on Tuesday evening. But, the protesters have demanded the government scrap the bill citing it is a threat to centuries-old culture and tradition. They have said the protest will not stop until the bill is totally canceled.

The protesters have expressed dissatisfaction over some of the provisions of the Guthi Bill– especially the formation of Guthi Authority to oversee the Guthi properties that would effectively end the role of existing trustees who have so far been running the Guthis and the provision that would allow one occupying the Guthi land to acquire ownership certificates.

The agitators have surrounded the Mandala chanting slogans to scrap the bill and preserve the Guthi tradition, and demanding the resignation of Minister for Communication and Information Technology Gokul Baskota, who had termed the Guthi tradition as “a symbol of feudalism”.

Yesterday, the opposition NC had obstructed the parliament barring Prime Minister K P Sharma Oli to address the parliament about his recent Europe visit and the Guthi Bill. Later in the evening, PM Oli had organized a press conference and expressed support for the withdrawal of the bill.

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Guthi Bill can be revised, says PM Oli https://nepalireporter.com/2019/06/256171 https://nepalireporter.com/2019/06/256171#respond Sun, 16 Jun 2019 07:38:10 +0000 https://nepalireporter.com/?p=256171 Guthi Bill“The Guthi Bill covers issues like culture, tradition, religion and the ownership and rights of peasants. The proposed law might not be correct. This is people’s government. The government will work in the interest of the people. The Bill can be revised if necessary,” said PM Oli, talking to the journalists, upon his arrival at Tribhuvan International Airport from his week-long Europe visit.]]> Guthi Bill

KATHMANDU, June 16: Prime Minister K P Sharma Oli has said that the Guthi Bill can be revised if necessary.

Supporters of traditional Guthi culture, cultural activists, lawmakers from the opposition and the ruling party and other stakeholders have expressed dissatisfaction over some of the provisions, especially the formation of the authority to administer the Guthi properties, in the Guthi Bill recently registered at the National Assembly. They have also demanded the withdrawal of the Bill from the parliament.

“The Guthi Bill covers issues like culture, tradition, religion and the ownership and rights of peasants. The proposed law might not be correct. This is people’s government. The government will work in the interest of the people. The Bill can be revised if necessary,” said PM Oli, talking to the journalists, upon his arrival at Tribhuvan International Airport from his week-long Europe visit.

The dismay of the pro-Guthi supporters was made worse after Minister for Communication and Information Technology and government Spokesperson Gukul Baskota, in defense of the Bill, said that the Guthi tradition is a symbol of feudalism.

The ruling party lawmakers even warned to topple the government and demanded the resignation of Minister Baskota, giving a two-day ultimatum to the government to withdraw the controversial Bill, warning a decisive protest if the issue not addressed by Monday.

 

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How and why was Madan Bhandari murdered? explains Kattel who traveled in the same jeep (with video) https://nepalireporter.com/2019/05/255666 https://nepalireporter.com/2019/05/255666#comments Fri, 17 May 2019 09:23:19 +0000 https://nepalireporter.com/?p=255666 Janata Janna Chahanchan, Rishi Dhamala, Rishi Kattel, Madan Bhandari murder“If Madan Bhandari had not died, Bidya Devi would never be the president.”“She does not have the qualification to be a candidate for the post of president of Nepal. She became the president because she is the widow of late Madan Bhandari.”“After Madan Bhandari died, Oli rose to power. He is now the prime minister of Nepal.”]]> Janata Janna Chahanchan, Rishi Dhamala, Rishi Kattel, Madan Bhandari murder

‘PM OLI, PREZ BHANDARI ARE SILENT. WHO ELSE WILL SOLVE DASDHUNGA MURDER CASE?’

Rishi Kattel, Chairman of Communist Party of Nepal, has claimed Madan Bhandari was murdered. Bhandari’s accident was not just an accident but was pre-planned murder.

The then General Secretary of CPN-UML Madan Bhandari and organizational department chief of the same party, Jibraj Ashrit were killed in a mysterious jeep accident in Dasdhunga, Chitwan the in the evening of May 16, 1993— the dubbed unsolved murder still remains unsolved after 25 years.

Bhandari and Ashrit were en route to Chitwan from Pokhara to attend a meeting when the jeep plunged into the Trishuli river. Driver Amar Lama, according to his statement, survived after he managed to escape from the window sustaining minor injuries. He was reportedly killed by Maoist rebels ten years later in Kirtipur.

Kattel, who had traveled with late leader Bhandari from Pokhara to Anbu Khaireni in the same jeep, said he is disappointed with Prime Minister K P Sharma Oli and President Bidya Devi Bhandari, widow of Madan Bhandari, for taking zero interest in the unsolved Dasdhunga murder.

Talking to Rishi Dhamala in a popular television talk show ‘Janata Janna Chahanchan’, Kattel remembers, “I was with Madan Bhandari, Jibraj Ashrit and driver Amar Lama. I traveled with them from Pokhara to Khaireni. I was in Gorkha when I learned about the accident.”

“It was already dark and no local vehicles were available. So I went to the accident site the next morning.”

“When I look back at the incidents, it was not a natural jeep accident. I can say leaders Bhandari and Ashrit were murdered.”

“Now, his wife (widow) Bidya Devi is the president of Nepal. Oli, who used to claim himself as the closest person to Madan Bhandari is the prime minister of Nepal.”

“The Dasdhunga incident is still a topic of interest for people. But, President Bidya Devi and Prime Minister Oli show no interest in the unsolved murder,” he added.

When asked who could have murdered Bhandari and Ashrit, Kattel said, “I cannot point out names. The Trilok Pratap Rana Commission took a statement with me about the Dasdhunga incident. In the statement, I have clearly stated it was a murder case.”

“Driver Lama was very close to Bhandari. Bhandari trusted him. So, we did not pay attention to the activities of Lama when we were in Pokhara and while traveling. Neither we thought about the reason behind why the driver looked serious before the incident occurred,” he remembers.

“Lama himself had made Bhandari fasten the seat belt when he said it was not necessary because the trip was not long.”

“The door where Bhandari had seated was locked. The windshield was not broken. Ashrit, who was in the back seat when I left, was in the same position but lying lifeless when the crane pulled up the jeep from the river.”

“But, there was no sign of Madan Bhandari. After searching for three days, his dead body was found lying in the river bank in Gajapur, some 32 kilometers from the accident site.”

“I myself had reached there to identify his body. The body was said to have swept away by the river. But, surprisingly, there was not even a single scratch on his body except a small bruise on his face.”

“The body was obviously missing the pant Bhandari was wearing, which he had tightened using a belt. But his underwear was still on the body.”

“Also, there was no chance Bhandari could have swept away by the river.”

“All the facts lead to a conclusion that it was a murder.”

When asked what could have lead to Bhandari’s murder, he said there could be one or two reasons behind this.

“Driver Lama had disappeared for a long time so that we had to wait for him for a while in Pokhara, Kattel further explained.

“When he arrived he was very serious. He did not speak a word except requesting Bhandari to fasten his seatbelt.”

“While traveling we discussed People’s Multiparty Democracy (Janata Ko Bahudaliya Janabad), a popular principle propounded by Bhandari.”

“I was not in agreement with Bhandari because I thought this principle of was not new and a threat to the communist movement. I had told Bhandari that the thought of multiparty democracy would lead Nepal’s communist movement to nowhere.”

“Bhandari in response had told me not to panic and jump into any conclusion,” he said.

“We will continue the discussion on this. Unless we bring people to the streets, no revolution is possible. If we fail to bring people to streets through this principle, then…. we are the drivers, we will change the gear and turn back,” said Kattel quoting Bhandari.

“We continued discussing this topic until we reached Damauli,” he added.

“In fact, there was no plan take the vehicle to Pokhara. The jeep was in a workshop because Bhandari and other leaders were in a month-long plan to visit eastern Nepal taking the message of recently concluded General Convention,” he revealed.

“They were planning to inaugurate district convention in Pokhara on May 16, then visit Chitwan next day to address a function organized by women. Then, after visiting eastern districts, they were planning to reach Tanahu to inaugurate another district convention at the end of Jestha month before returning to the capital.”

“But Wachaspati Devkota, who also traveled with them, requested Ashrit to take the jeep to Pokhara saying there was no vehicle. Bhandari had flown to Pokhara telling the driver to drive the jeep to Chitwan.”

Then who planned the murder of Bhandari? asked Rishi Dhamala.

According to Kattel, some foreign elements, as well as internal powers including Palace (monarch), were involved in Bhandari’s murder.

“I cannot say who murdered him. An investigation led by K P Oli said it was not an accident but an unsolved murder. Oli concealed the report and has not unveiled it yet. The Trilok Pratap Commission concluded the incident as an accident.”

“Murder of such high profile personalities is not done with a small planning. They could be from the palace, or the party or neighbor or anywhere.”

“Madan Bhandari was a tall figure. He was patriotic, charismatic and the most popular leader of Nepal. Besides, Nepal is a country where a true patriot has a hard time surviving,” he furthered.

“The conspirators of Bhandari’s should have thought Madan Bhandari’s patriotic stance would block them to molest the country’s resources.”

“Another reason could be his principle of people’s multiparty democracy. He could have reconsidered this thought or be defeated. But some communist leaders should have thought that finishing Bhandari would allow them to continue with the principle.”

“Everybody has realized now how shameful the communist movement is, which evolved from the same principle propounded by Bhandari.”

When asked whether K P Oli led government could solve the murder, he said, “They can. But they won’t.”

“If Madan Bhandari had not died, Bidya Devi would never be the president.”

“She does not have the qualification to be a candidate for the post of president of Nepal. She became the president because she is the widow of late Madan Bhandari.”

“After Madan Bhandari died, Oli rose to power. He is now the prime minister of Nepal.”

“The President, after assuming the post, could have formed a probe committee. But there is mum on this.”

“Oli is silent. Bidya Bhandari is silent. Their followers are silent. Our interest in the mysterious murder can do nothing.”

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Post quake reconstruction works will be completed by the next year: PM Oli https://nepalireporter.com/2019/04/255129 https://nepalireporter.com/2019/04/255129#respond Thu, 25 Apr 2019 07:37:07 +0000 https://nepalireporter.com/?p=255129 K P Oli“The devastating earthquake four years ago has taught the lesson about safe housing and better infrastructure development. Hundreds of years older structures are damaged and it takes years to rebuild them. The reconstruction works we have expedited will be completed by the next year,” tweeted the prime minister on the occasion of the fourth anniversary of the 2015 April Earthquake that killed 9000 lives and injured nearly 22,000 people.]]> K P Oli

KATHMANDU, April 25: Prime Minister K P Sharma Oli has said that the post-earthquake reconstruction works will be completed by the end of next year.

“The devastating earthquake four years ago has taught the lesson about safe housing and better infrastructure development. Hundreds of years older structures are damaged and it takes years to rebuild them. The reconstruction works we have expedited will be completed by the next year,” tweeted the prime minister on the occasion of the fourth anniversary of the 2015 April Earthquake that killed 9000 lives and injured nearly 22,000 people.

Years after the 7.8 magnitudes followed by 7.3 magnitude aftershock on May 12 rocked the country; the achievements in rebuilding the quake-damaged structures are quite sluggish—with only 50 percent of housing rebuilt, 54 percent health institutions and 30 percent heritage sites reconstructed so far.

However, the National Reconstruction Authority has claimed that 80 percents works of housing reconstruction have been completed and 66 percent of health institutions have been rebuilt.

 

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Investment Summit encouraging, fruitful: PM Oli https://nepalireporter.com/2019/03/254718 https://nepalireporter.com/2019/03/254718#respond Sun, 31 Mar 2019 10:58:09 +0000 https://nepalireporter.com/?p=254718 K P Sharma Oli, Reporters' Club NepalPrime Minister KP Sharma Oli has reiterated that government has centered its attention on building new Nepal with social justice. End of poverty and backwardness, and development of infrastructures are given top priority under the economic prosperity campaign, he added.]]> K P Sharma Oli, Reporters' Club Nepal

KATHMANDU, March 31: Prime Minister KP Sharma Oli has reiterated that government has centered its attention on building new Nepal with social justice. End of poverty and backwardness, and development of infrastructures are given top priority under the economic prosperity campaign, he added.

Speaking at a special function organized on the occasion of 21st anniversary of Reporters’ Club Nepal at Rastriya Sabha Griha, Exhibition Road on Sunday, “The investment summit concluded on Saturday remained quite encouraging and fruitful for infrastructural development. We successfully held the event. Entire nation stood together. We gave a message of focused direction and one voice,” he asserted, adding that as it would take time for Nepal alone to ensure prosperity, efforts were made to seek cooperation from the foreign development partners.

On a different note, he said although the adjustment of government employees was not that easy task, it was accomplished along with new law. As he said the federal, provincial and local levels would work in coordination with the practices as per their jurisdictions.

Similarly, he said the efforts to revive conflict in Nepal were frustrated. “The separatist elements fomenting conflict and division among parties and society are put to an end,” the PM underscored.

He urged everyone to develop positive thoughts. “The youths in media and social networking sites need to remind the world that Nepalis pride on the civilized and cultured history and society. Society, history and civilization must not be forgotten,” he reminded. RSS

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PM offers attractive incentive package for foreign investors https://nepalireporter.com/2019/03/254610 https://nepalireporter.com/2019/03/254610#respond Fri, 29 Mar 2019 06:59:13 +0000 https://nepalireporter.com/?p=254610 Nepal Investment Summit 2019, K P Sharma OliPrime Minister KP Sharma Oli has said that Nepal is one of the most flexible countries when it comes to economic policy and welcoming foreign investment. All sectors, barring a narrow box of sensitive areas, are open for foreign investment and we allow 100 percent investment in almost all areas. ]]> Nepal Investment Summit 2019, K P Sharma Oli

KATHMANDU, March 29: Prime Minister KP Sharma Oli has said that Nepal is one of the most flexible countries when it comes to economic policy and welcoming foreign investment. All sectors, barring a narrow box of sensitive areas, are open for foreign investment and we allow 100 percent investment in almost all areas.

In a keynote address to the Nepal Investment Summit 2019 that began here today, Prime Minister Oli said Nepal offers an attractive incentive package in terms of corporate taxation, import duties, and export facilitation. Tax rates are predictable and tax holidays are guaranteed by the law for those industries that meet the established criteria. “We have huge demographic dividend with about 57 percent of the population representing the working age group. The labor cost is competitive and low, and there is a good pool of English speaking population especially amongst the youngsters”, he said.

Stating that Nepal has developed policies and programs to enable its youth to be imbued with multi-skills, he said qualified and skilled human resources available at reasonable cost locally will make investment less costly. “We have maintained sound macroeconomic indicators and hence, investing in Nepal is risk-free”.
Furthermore, an independent judiciary, capable of adjudicating industrial and investment related disputes on a fast-track basis, has been a mainstay of our legal system. “It is not only political stability that Nepal is now ensured with, but also with policy consistency. Legal, institutional and procedural reforms that were long overdue have gained speed under my leadership”.

The Prime Minister also shared to the delegates of the Summit that in the past few months, Nepal has made substantial progress in improving the investment climate in the country with a sound regulatory framework based on two key legislation: Foreign Investment and Technology Transfer Act; and Public-Private Partnership and Investment Act.

The Public-Private Partnership and Investment Act provides one-stop service for any foreign investment of over Rupees 6.00 billion or a hydropower project over 200 MW capacity. The new Foreign Investment and Technology Transfer Act, 2019, ensures national treatment for any foreign investment. An automatic route system has been introduced to keep the foreign direct investment related processes simple and predictable, and repatriation is guaranteed on the earning or equity.
Nepal has also recently implemented a universal, contribution-based social security scheme that will have a transformative impact on the country’s socio-economic landscape. The scheme, which covers Medicare facilities, safe motherhood, accidental and old-age security of workers, does not only buttress the foundation of a welfare society but also ensure better and healthier industrial relation and hence, contribute meaningfully to a conducive environment for investors.
Statutory provisions pertaining to land acquisition, company registration, environmental assessment, and infrastructure development have been relaxed and simplified, the Prime Minister said while noting that strengthening institutions, building capacity, streamlining and simplifying the processes and procedures have also been the hallmarks of the current reform initiatives. “We have already started online registration and payment system, which will soon be upgraded to full automation system”.

Prime Minister Oli said Nepal will actively pursue bilateral investment protection agreement with friendly countries that will further ensure protection for foreign investment. We will also pursue negotiations on the avoidance of double taxation with interested countries to provide further incentives. The next reform cycle would involve policies and comprehensive legislation in the field of intellectual property rights commensurate with our rights and obligation under various multilateral instruments.

“We are mindful that investment requires transparent and responsive governance and rule of law. With elected representatives in all levels of our federal set up, governance attributes are improving. There is already a healthy competition among the provinces and local governments on incentivizing investment and getting more of it. I have said time and again that under my leadership, there is absolutely zero tolerance on corruption”.

The past one-year has remained as the base year and the year of policy and legal reform. We drafted many new laws translating the provisions of the new constitution into the legal and institutional framework. The new frameworks have also created a conducive environment for foreign direct investment, among others.
He, however, noted that political transformation alone cannot be enough and sustainable without economic transformation. But if we could successfully steer the country’s historic political transformation, there is no reason why we cannot do the same in the economic realm.

Stating that Nepal’s immediate goal is to graduate from Least Developed Country status and the medium term goal is to become a middle-income country and achieve Sustainable Development Goals by 2030, the Prime Minister said to realize this, Nepal needs to attain a double-digit growth over the next years. A tentative estimation by the National Planning Commission is that the country would require an investment of about 88.18 billion US dollars over the next five years.

The Prime Minister said that Nepal’s economic policy and its orientation is explicitly spelled out in the Constitution which is premised on the realization that growth and prosperity are possible only through a partnership between and development of public, private and cooperative sectors. “We are committed to promoting free and fair competition among private sector stakeholders. And you have already witnessed our firm stand against cartel and syndicate”.

Sharing to the investors that almost round the clock electricity supply has been guaranteed for industries and the country would soon witness power surplus, the Prime Minister said road connections within the country and cross-border connectivity have improved substantially. Furthermore, Nepal’s strategic location between the world’s two largest markets with increasing purchasing power, China and India, serves as a compelling incentive for investment.

Stating that Nepal enjoys access to both markets on preferential terms, the Prime Minister noted that with India, Nepal has duty free arrangements for most of its products, both primary and industrial goods while China has granted a significant number of tariff lines duty free access to its market.

Beyond neighborhood, export from Nepal is entitled to various kinds of duty-free and preferential schemes put in operation by both developed and developing country’s trade partners for the group of least developed countries.

He also shared that Nepal had started to utilize Vizag port in India for its trade and transit while the availability of a modern alternative port has helped reduce hassles at crowded Kolkata/Haldia port. Digital Tracking and Transshipment Systems both introduced recently has eased the transportation process and a new transit route through the use of inland waterways is under progress. This will not only provide an alternative transit route, but it will also connect landlocked Nepal to the sea through the waterways.

The Prime Minister shared that Nepal has signed Transport Transit Agreement with her northern neighbor, China, and a Protocol to the Agreement will be signed soon. This will enable Nepal also to use Chinese territory and port facilities for its international trade and transit.

Nepal’s Special Economic Zones have both infrastructure and other amenities to set up industries. The Special Economic Zone Authority Act has also been revised recently to make the conditions of investment and operation of industries in the special economic zones more promising.

The Prime Minister suggested that when it comes to investment in Nepal, hydropower could be a prime choice. Our target is to generate 3000MW power in three years, 5000MW in five years and 15000MW in ten years. Agriculture, manufacturing, tourism, infrastructure, information technologies, mines and minerals to name a few are other potential areas.
Sharing that development agenda and foreign investment enjoy national consensus in Nepal as all political forces in the Parliament stand together to invite and encourage foreign investment, he expressed the confidence that the investors would return home with fond memories of Nepal and with an attractive investment package as an important take away of the Summit.

“Nepal is ready for business and investment. We welcome your investment. Feel secure and seize the moment. Your investment will be protected and your profit will be guaranteed”. RSS

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PM Oli secures 20 units of share of Trishuli III B hydropower project https://nepalireporter.com/2019/03/254597 https://nepalireporter.com/2019/03/254597#respond Thu, 28 Mar 2019 10:22:35 +0000 https://nepalireporter.com/?p=254597 Trishuli III BPrime Minister KP Sharma Oli has got 20 unit shares of the Trishuli III B hydropower project launched under the government's 'People's Hydropower Program'.]]> Trishuli III B

KATHMANDU, March 28: Prime Minister KP Sharma Oli has got 20 unit shares of the Trishuli III B hydropower project launched under the government’s ‘People’s Hydropower Program’.

Likewise, his spouse Radhika Shakya also secured 20 units. The information was made public amid a program held today at the Ministry of Energy, Water Resources and Irrigation to allocate the project’s shares to the applicants. Both of them had applied for 10,000 units of share each.

Likewise, Energy Minister Barsha Man Pun got 20 shares, while former Speaker Onsari Gharti got 20 and secretary of the ministry Dinesh Kumar Ghimire got 20.
Of the total applicants, 50,267 have got 30 units of shares each, and 145,559 received 20 units of shares, said Paras Mani Dhakal, chief executive officer of Global IME Capital, the sales promoter. The total of 67 applications was canceled. The project’s promoter, Trishuli Hydropower Company had issued over 3.7 million units of share in the initial public offering.

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