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    NepalFloods2017 Archives - Nepali Sansar https://www.nepalisansar.com/tag/nepalfloods2017/ A Site for Global Nepali Community Tue, 19 Jun 2018 09:59:18 +0000 en-US hourly 1 https://wordpress.org/?v=6.3.2 https://www.nepalisansar.com/wp-content/uploads/2020/04/fav.png NepalFloods2017 Archives - Nepali Sansar https://www.nepalisansar.com/tag/nepalfloods2017/ 32 32 Nepal Floods 2017: August Floods Hit Rebounding Nepali Economy, Says World Bank https://www.nepalisansar.com/business/nepal-floods-2017-august-floods-hit-rebounding-nepali-economy-says-world-bank/ https://www.nepalisansar.com/business/nepal-floods-2017-august-floods-hit-rebounding-nepali-economy-says-world-bank/#respond Mon, 18 Sep 2017 10:17:42 +0000 http://www.nepalisansar.com/?p=4024 September 18, 2017 Recent floods in mid-August 2017 have severely impacted Nepal’s economic activity, said the

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    September 18, 2017

    Recent floods in mid-August 2017 have severely impacted Nepal’s economic activity, said the World Bank in its recent-released report.

    “Nepal’s economic activity, which was expected to progress well in FY 2018, has been impacted by another natural disaster,” highlighted the World Bank report titled- Nepal Development Update.

    Citing to its semi-annual assessment of economic performance, the World Bank informed that the recent floods in mid-August 2017 have hit 5 percent of the country’s overall population with several districts recording the heaviest rainfall in 60 years.

    World Bank termed the recent floods as ‘the third major shock in three consecutive years’ as it informed that the floods and landslides have affected over 1.7 million people, houses, bridges, roads and other infrastructure.

    According to the report, the damage caused by floods is likely to affect agriculture, economic activity and poverty reduction efforts of Nepal, even up to FY 2018.

    “Over 80 percent of land in the southern Tarai, country’s food basket, was affected. Estimates of destroyed crops at 64,000 hectares will likely lead to a weak agricultural output in FY 2018,” the report noted.

    While the estimates of damages remain preliminary, the growth for FY 2018 is expected to be lower than earlier forecasted and moderate thereafter, in line with the potential averaging 4.5 percent in the forecast period, it added.

    World Bank releases the Nepal Development Update twice in a year, bringing out issues to be addressed for the overall development of Nepal.

     

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    NepalFloods2017: Endangered Species Hit Badly, Rescue Operations Underway https://www.nepalisansar.com/news/nepalfloods2017-endangered-species-hit-badly-rescue-operations-underway/ https://www.nepalisansar.com/news/nepalfloods2017-endangered-species-hit-badly-rescue-operations-underway/#respond Tue, 05 Sep 2017 06:39:15 +0000 http://www.nepalisansar.com/?p=3870 September 05, 2017 Recent floods in South Asia have not only hit the public and infrastructure,

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    September 05, 2017

    Recent floods in South Asia have not only hit the public and infrastructure, they have also shown a severe impact on endangered species of the region, displacing many of them.

    Intense flooding swept away endangered one-horned rhinos of the Chitwan National Park (CNP), one of the main habitats of endangered one-horned rhinos hosting 606 of the total 645 one-horned rhinos of Nepal, into different areas of West Champaran District of Bihar (India).

    With this, forest officials of Nepal and experts from Bihar began their joint rescue operations in search of missing rhinos of Nepal that were swept away into India, informed the Chitwan National Park (CNP) authorities on September 04, 2017.

    Authorities further informed that they have so far rescued eight rhinos (three rhino calves and five adult rhinos) and are still continuing their search suspecting more such cases.

    “Eight rhinos have already been rescued, but there could be more stranded in India. So, we have been searching for them,” said Nurendra Aryal, Assistant Conservation Officer, CNP.

    According to the forest officials’ estimates, around 15 rhinos were swept away into different parts of Bihar due to heavy floods caused by the River Gandak or Narayani in Bihar and Nepal from August 12, 2017. However, there is no information on the status of remaining rhinos.

    “At least 15 rhinos from Nepal were swept into West Champaran in the floods that came after very heavy rainfall in the catchment area of the Gandak. There could be more. So far, a joint team of around 250 people from Bihar and Nepal has been able to rescue six of them,” said Amit Kumar, DFO-cum-deputy director of Bettiah-2 forest range in West Champaran on September 01, 2017.

    World-famous Kaziranga of Assam Badly Hit

    Not just Nepal! Kaziranga National Park of Assam, home to the world’s largest population of rare one-horned rhinos and other endangered species, also suffered a major damage due to recent floods.

    According to Kaziranga Director Satyendra Singh, rescue teams have recovered 225 dead animals since August 12, 2017, with 15 of them were rhinos (as of September 21, 2017).

    “Nearly 200 deer, four elephant calves, four wild boars, two water buffaloes and one porcupine were among the other animals found dead in Kaziranga, which is still 20 percent under water. A Bengal tiger also died in a fight with a herd of elephants. It is possible that due to floods, there was a space crunch and it led to a territorial conflict,” informed Singh on September 21, 2017.

    Joint Rescue Operation, A Great Opportunity

    Speaking about the joint rescue operation being undertaken by officials of both the countries, Additional Principal Chief Conservator of Forest (Wildlife) of Bihar Bharat Jyoti said, “The joint operation is a great opportunity for us and a progressive step in mutual cooperation between India and Nepal to save wildlife.”

    Bharat Jyoti also informed that officials from both the countries are going to discuss trans-boundary arrangements on wild animals, biodiversity and conservation later in September 2017, in New Delhi. Valmikinagar Tiger Reserve in Bihar and Dudhwa National Park in Uttar Pradesh are contiguous to the forests in Nepal, he added.

    A team of veterinary and CNP officials have been in India since August 15, 2017 and a joint team of more than 250 people from Bihar and Nepal were in search of missing rhinos (as of September 01, 2017).

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    NepalFloods2017: Child Victims Toll at 16 Million in South Asia, 0.68 Million in Nepal https://www.nepalisansar.com/news/nepalfloods2017-child-victims-toll-16-million-south-asia-0-68-million-nepal/ https://www.nepalisansar.com/news/nepalfloods2017-child-victims-toll-16-million-south-asia-0-68-million-nepal/#respond Mon, 04 Sep 2017 09:29:17 +0000 http://www.nepalisansar.com/?p=3848 September 04, 2017 In the light of recent floods that affected South Asia, the United Nations

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    September 04, 2017

    In the light of recent floods that affected South Asia, the United Nations International Children’s Emergency Fund (UNICEF) has released a report highlighting huge loss of children across the region due to the disaster.

    16 million children were affected by massive flooding in South Asia, with millions more at risk, informed UNICEF’s latest press release on September 02, 2017. According to the release, all these affected children and their families are in urgent need of life-saving support.

    Jean Gough, UNICEF Regional Director for South Asia, said, “Millions of children have seen their lives swept away by these devastating floods. There is a danger that the worst could still be to come as rains continue and flood waters move south.”

    Country-wise Data of Child Victims

    Country-wise data in UNICEF’s release shows:

    • Around 3 million children (out of the total 8 million victims) in Bangladesh, with an estimated 696,169 houses, 2,292 primary and community schools damaged by floodwaters. Apart from this, more than 13,035 cases of water-borne diseases were also reported
    • 680,000 child victims (out of 1.7 million victims) in Nepal, with more than 185,126 homes and 1,958 schools damaged, thus affecting the education of 253,605 children
    • Four Indian states in northern India saw 12.33 million children out of the total 31 million victims, with around 805,183 houses (partially or fully) and 15,455 schools damaged, disrupting the education of nearly one million students

    As an Immediate Support

    In Nepal, UNICEF is working in collaboration with the government departments and other partners to launch and scale-up its relief measures for flood victims. The organization is planning for an intensified immunization programme in 16 flood-affected districts. A special focus will be laid on measures related to control Severe Acute Malnutrition.

    UNICEF has so far provided over USD 320,000 worth relief material for Health, Nutrition, Water Sanitation and Hygiene (WASH), Child protection and Education activities as an immediate support to Nepal’s flood victims.

    In Bangladesh, UNICEF is preparing to provide emergency education services to around 6,000 children immediately. Apart from that, it is also establishing temporary transitional schools, learning spaces and organizing boat transportation for children and teachers for their commute to schools.

    UNICEF is also undertaking relief and rescue measures in flood-affected Indian states.

     

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    #NepalFloods2017: Global Attention Sought for Relief Measures https://www.nepalisansar.com/news/nepalfloods2017-global-attention-sought-relief-measures/ https://www.nepalisansar.com/news/nepalfloods2017-global-attention-sought-relief-measures/#respond Mon, 04 Sep 2017 08:52:00 +0000 http://www.nepalisansar.com/?p=3643 September 04, 2017 Recent floods have devastated millions of lives across South Asia. Nepal, in specific,

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    September 04, 2017

    Recent floods have devastated millions of lives across South Asia. Nepal, in specific, suffered a severe damage to its public, livestock, agriculture, industry, among others.

    In this regard, the Nepal Government is already undertaking necessary relief measures and international bodies are gearing up for extending their support to the flood victims.

    Meanwhile, the International Federation of Red Cross and Red Crescent Societies (IFRC) also issued a press release on August 22, 2017, wherein, it informed about its plan to raise funds globally for supporting flood victims.

    IFRC Pitches for Global Support

    “IFRC and Nepal Red Cross (NRC) are launching a global appeal for about 3.5 million Swiss francs to support 81,000 people living in the most-seriously affected parts of the country. IFRC has provided a start-up loan of 500,000 Swiss francs to ensure that resources are immediately available,” said IFRC in its official release.

    Describing the victims’ situation, Jagan Chapagain, Under Secretary General for Programmes and Operations, IFRC said, “This is the worst flooding that parts of South Asia have seen in decades. Entire communities have been cut off. The only way to get aid to some of these villages is by boat and many are running out of food.”

    Jagan raised concerns over disease threat among victims. Stating that floodwaters have become a breeding ground for deadly diseases such as diarrhoea and malaria, he also raised suspicion over spread of other diseases like dengue and Japanese encephalitis.

    We are delivering aid, food, water and other vital supplies but this disaster is one of the biggest we have ever faced. We are appealing for global support,” said Mozharul Huq, Secretary General, Bangladesh Red Crescent Society.

    The Government of Nepal has also sought international support for relief measures to flood victims.

    UK Allocates GBP 400,000 Fund

    In a recent move, the Government of United Kingdom (UK) has come forward to extend its support to flood victims.

    As a monsoon flood response, the Department for International Development (DFID), UK announced GBP 400,000 fund allocation to the Nepal Red Cross Society, in collaboration with the British Red Cross and International Federation of the Red Cross.

    Through this fund, UK aims at ensuring water supply to 13,000 people, food and financial support to 3,000 victims, health-related support to women and child victims.

    EU Donates Rs 24 Million Relief Fund

    The European Commission has come forward to provide Rs 24.2 million (EUR 200 000) in humanitarian aid funding to the victims affected by floods and landslides across the country. This aid is expected to benefit around 35,000 Nepalese hit by the disaster.

    This move by the European Union (EU) is coming after a IFRC’s call for global attention to support flood victims. Through this fund, EU intends to support IFRC and NRC in delivering much-needed assistance to the affected families, said a statement issued by EU on August 22, 2017.

    According to the release, hygiene promotion activities are also planned in targeted districts to tackle with water-borne diseases caused by floodwaters.

    Japan Provides Rs 23.4 Million Worth Relief Material

    The Government of Japan has also provided relief material worth Rs 23.4 million to the Government of Nepal in support of flood victims in the southern plains of Nepal.

    “The Japanese Government and Japanese citizens have not forgotten the friendship and compassion given to Japan during the Great East Japan Earthquake in March 2011 and in the Kumamoto Earthquake in April last year by the Government and people of Nepal,” said Masashi Ogawa.

    South Korea Announces Financial Aid

    In a recent update, the Government of Republic of Korea (ROK) has agreed to Nepal Government’s request to support flood victims.

    In this regard, the Government of ROK announced USD 200,000 as humanitarian assistance to Nepal, to the damages caused by floods and landslides across the country.

    An official statement in this regard was issued by the Embassy of ROK in Kathmandu, which informed that the Government of ROK’s assistance is expected to contribute to the emergency relief efforts in the affected areas.

    NRNA Donates a Million Rupees

    The Non-Resident Nepal Association (NRNA) of Thailand has also extended a financial assistance of Rs 1 million to the flood victims of Saptari District on the south-eastern plain in Tarai.

    “The amount has been transferred to NRNA Flood Relief Fund,” said NRNA in a statement, informing that the donation amount was handed over to the NRNA International Coordination Council Member Khagendra Raj Dhakal.

    NRNA Thailand Treasurer Kanchha Gurung informed that Rs 730,079 would be transferred to the NRNA Relief Fund for relief package distribution and Rs 230,079 to the NRNA Women Welfare Fund to distribute hygiene kits to women victims in Saptari District.

    Death Toll Reaches 1200 in South Asia

    As of August 25, 2017, the total death toll (due to floods) in Nepal, Bangladesh and India, altogether, increased to 1200 with more than 850 people killed in six Indian states, around 150 people in Nepal and around 134 people in Bangladesh.

    Apart from this, more than 90,000 houses in Nepal were badly hit and crops in 10,583 hectares of land have been washed away in Bangladesh with an additional 600,587 hectares partially damaged.

    IFRC had earlier released a report, wherein, it said the number of flood-affected people in these three countries crossed 24 million with an estimate of more than 700 death casualties.

    According to IFR, over 1,800 Red Cross and Red Crescent volunteers are working alongside local authorities to prevent further deaths and help communities withstand and recover from the floods.

    Various international and local aid agencies and rescue teams are already undertaking continuous relief measures across the region to save millions of others hit by the disaster.

    “People across the region urgently need our help. But their needs are now so immense they will not be met without international support,” says Jagan Chapagain.

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    #NepalFloods2017: Viral Infections on Rise Across Flood-hit Regions https://www.nepalisansar.com/news/nepalfloods2017-viral-infections-rise-across-flood-hit-regions/ https://www.nepalisansar.com/news/nepalfloods2017-viral-infections-rise-across-flood-hit-regions/#respond Tue, 29 Aug 2017 10:55:41 +0000 http://www.nepalisansar.com/?p=3743 August 29, 2017 Contaminated environment caused by floodwaters is posing serious health challenges to hundreds of

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    August 29, 2017

    Contaminated environment caused by floodwaters is posing serious health challenges to hundreds of people across various flood-hit regions of Nepal.

    Viral infections, fever, common cold, diarrhoea, headache and skin diseases are seen in common among the public of Tarai, Rautahat, Parsa, Dhading, Sindhuli, Bara and other districts.

    In Saptari, around 25 people are suffering from diarrhea. Jageshwor Raya, a local, informed that people in the region are falling sick because of drinking contaminated water from tubes and are also not getting on-field medical assistance.

    An official from Siraha District Health Office informed that health facilities in the district are witnessing around 50 viral fever cases every day. The Bardiya District Hospital is also witnessing more than 50 patients at its emergency unit.

    Meanwhile, the number of patient visits to the Sindhuli District Hospital has also increased from 40 (earlier) to more than 300 patients (currently).

    This situation exists despite the efforts of concerned district health officials and local authorities in running medical camps in the flood-hit areas.

    According to the health officials, recent floods have contaminated almost all the water sources thus giving rise to public health issues. Most of the sick are those who have been living in temporary shelters after the floods destroyed their houses, they informed.

    80 Percent Victims Diagnosed with Viral Illness

    Dr Udaya Narayan Singh of Narayani Sub-regional Hospital informed that nearly 80 percent of flood survivors were diagnosed with some form of viral illness at the medical camps run by the hospital at the flood-affected areas recently.

    “Of the total number of patients reaching hospital, around 20 per cent are children,” said Dr Krishna Lal Upreti at District Hospital, Dhading.

    Dr Lochan Karki, who was involved in one of the medical camps in a flood-affected village, termed water contamination, poor hygiene and exposure to elements as the major causes of disease outbreak.

    Property Worth Rs 440 Million Damaged

    Floods wiped out three key irrigation projects in Saptari causing a damage to property worth Rs 440 million.

    According to Chandra Irrigation Management Division Office Saptari, Koshi Pump Irrigation System, Chandra Irrigation System and Koshi Western Distribution Irrigation System were the projects that suffered the damage.

    Chief of the Office Prasunna Mishra informed that they could not carry out the repair works due to budget shortage.

    MoAD Announces Subsidy for Flood-hit Farmers

    Meanwhile, the Ministry of Agriculture and Development (MoAD) announced a subsidy package worth Rs 1.25 billion for the flood-hit farmers of Tarai region.

    Under the same package, MoAD has also announced Rs 250,000 assistance for the construction of a food market in every flood-hit district to ensure market access to the agricultural produce.

    The government also announced Rs 50,000 assistance per hectare to the farmers, who suffered losses in fishery, to purchase fishlings and reconstruct their ponds.

    The post #NepalFloods2017: Viral Infections on Rise Across Flood-hit Regions appeared first on Nepali Sansar.

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    #NepalFloods2017: UN Nepal Releases Response Plan, Seeks USD 41 Million Immediate Grant https://www.nepalisansar.com/news/nepalfloods2017-un-nepal-releases-response-plan-seeks-usd-41-million-immediate-grant/ https://www.nepalisansar.com/news/nepalfloods2017-un-nepal-releases-response-plan-seeks-usd-41-million-immediate-grant/#respond Mon, 28 Aug 2017 09:08:54 +0000 http://www.nepalisansar.com/?p=3707 August 28, 2017 In the light of the flood situation in Nepal, the Office of UN

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    August 28, 2017

    In the light of the flood situation in Nepal, the Office of UN Resident Coordinator Nepal has released a report titled ‘Flooding Response Plan (August 2017-February 2018)’, wherein, it sought global attention for supporting flood victims.

    Under the plan, the Office aims at offering humanitarian assistance to around 1.7 million victims hit by the recent floods across 35 districts of the country.

    As part of relief measures, the Office informed that the Humanitarian Country Team (HCT) is seeking USD 41.4 million to provide immediate humanitarian assistance to support the flood victims over the coming six months, under various sectors including Health, Nutrition, Water Sanitation and Hygiene (WASH), Food Security, Protection, Shelter, Livelihood, Education and Early Recovery.

    Sector-wise Funding Requirements

    • USD 8 million assistance separately for WASH (targeting 800,000 people across 13 districts) & Nutrition (to cover 1 million people across 18 districts) and USD 3 million aid for Education sector (to cover 79,000 children and 1,975 teachers) from UNICEF
    • USD 6.85 million Food Aid from World Food Programme (WFP) targeting 300,000 people across 10 districts
    • USD 4.5 million from Food and Agriculture Organization (FAO) targeting 300,000 people across 10 districts
    • USD 4.12 million from the International Federation of the Red Cross (IFRC) to support 300,000 population across 5 districts
    • USD 3.4 million Early Recovery assistance from United Nations Development Programme (UNDP) targeting 1.7 million across 10 districts
    • USD 1.78 million Health assistance from WHO targeting 1.7 million population across 30 flood-hit districts
    • USD 900,000 Protection assistance from UNFPA targeting 200,000 people across 11 districts
    • USD 750,000 assistance from International Organization for Migration (IOM) for Camp Coordination and Camp Management (CCCM) targeting 300,000 population across 7 districts
    • USD 100,000 from United Nations Resident Coordinator’s Office to support Humanitarian agencies and the Government of Nepal targeting 35 affected districts

    Initial Rapid Assessment of Flood Situation

    The Office, in its Initial Rapid Assessment (IRA) conducted across 28 districts, concluded that 1.7 million population was affected by the flooding in Nepal, with almost 65,000 houses destroyed, 460,000 people displaced, an estimated 19,000 people currently residing in informal displacements sites including schools and some 40 communities remaining inaccessible.

    The recent floods have badly hit the country’s critical infrastructure, said the report, informing that around 80 schools across 28 districts (710 damaged) and 10 health posts (64 partially damaged) were destroyed. Around 64,000 hectares of standing crops have also been destroyed in the 10 worst-affected districts of the country.

    According to the report, this situation will affect communities’ livelihood and compromise food security, as food stocks have also been destroyed.

    In terms of public health, the report informed that nutrition needs have increased since the onset of flooding with the average rate of global acute malnutrition (GAM) now beyond critical levels.

    This situation will likely deteriorate further amongst children under five and pregnant and breastfeeding women without emergency measures, it added.

    According to the report, the governmental efforts including deployment of 27,000 security personnel and civil servants for measures and providing more than USD 11.3 million fund assistance could not completely suffice the humanitarian needs caused by the crisis.

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    #NepalFloods2017: Youth Use Social Media Strategy for Relief Measures https://www.nepalisansar.com/news/nepalfloods2017-youth-use-social-media-strategy-relief-measures/ https://www.nepalisansar.com/news/nepalfloods2017-youth-use-social-media-strategy-relief-measures/#respond Thu, 24 Aug 2017 10:06:43 +0000 http://www.nepalisansar.com/?p=3678 August 24, 2017 Seems the relief measures being undertaken in support of flood victims in Nepal

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    August 24, 2017

    Seems the relief measures being undertaken in support of flood victims in Nepal are leaving no stone unturned.

    This became evident in a recent initiative taken by Biratnagar youth, wherein, large number of youths reached out to social networking sites to form a collective group that can support ongoing relief measures.

    Hundreds of youth, who got connected through Facebook, formed a group and participated in rehabilitation measures for the flood victims of Biratnagar.

    This all started with a Facebook post made by Sabin Dahal of Biratnagar on August 12, 2017, wherein, he said a team of youth was on standby to support flood victims. Large number of Biratnagar youth responded and hundreds of them stepped ahead to take part in rescue, relief and rehabilitation measures in flood-hit areas.

    “Facebook page played a critical role in connecting youth for the humanitarian cause,” said Dahal.

    The team of youth further formed the Youth Mobilization Committee coordinated by Dipak Chapagain to continue their efforts along with using Facebook platform to inform and communicate about the social problems and their activities. They went on to organize various awareness programmes on health and sanitation.

    “This committee was formed with the initiative of Biratnagar Metropolitan City and it will carry out various activities for social reforms and unity. Youth have been engaged in rehabilitation and sanitation activities after the devastating floods,” said Chapagain.

    Lauding the youth for their support, Biratnagar Mayor Parajuli said, “We succeeded in mitigating human loss and property loss because of the selfless contribution of more than 500 Biratnagar youth,” while also informing that youth will be mobilized for the development of the metropolis in the days to come.

    Out of the 12,000 victims displaced by floods in Biratnagar, 8,000 victims were rehabilitated by the Biratnagar Metropolitan City (BMC) yesterday.

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    #NepalFloods2017: UNFPA Ready for Possible Support, Says Manisha Koirala https://www.nepalisansar.com/news/nepalfloods2017-unfpa-ready-for-possible-support-says-manisha-koirala/ https://www.nepalisansar.com/news/nepalfloods2017-unfpa-ready-for-possible-support-says-manisha-koirala/#respond Thu, 24 Aug 2017 10:03:45 +0000 http://www.nepalisansar.com/?p=3675 Manisha Koirala, a renowned Bollywood actress and the Goodwill Ambassador of the United Nations Population Fund

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    Manisha Koirala, a renowned Bollywood actress and the Goodwill Ambassador of the United Nations Population Fund (UNFPA), yesterday visited various flood-hit areas of Rautahat District to support flood victims of the region.

    As part of her visit, Koirala distributed various relief materials to the flood victims on behalf of UNFPA.

    Post the visit, Koirala took part in a press meet organized by UNFPA in the district headquarters Gaur, where she urged the Government of Nepal to undertake rehabilitation measures for the displaced families at the earliest.

    “Our organization is ready to extend all possible support to relieve flood victims from their present woes,” said Koirala.

    UNFPA Country Director Julia Valisci expressed UNFPA’s readiness to work in coordination with the Government of Nepal.

    Regional Director Narendra Mishra said they are committed to provide necessary relief measures to the women victims.

    CPN-MC Donates Rs 3.5 Million to Flood Victims

    CPN Maoist Centre’s lawmakers yesterday donated their one-month salaries to the PM Disaster Relief Fund in support to the victims of floods and landslides.

    According to Party Chief Whip Rekha Sharma, Party Chair and former Prime Minister Pushpa Kamal Dahal handed over a sum of Rs 3.5 million to the Prime Minister Sher Bahadur Deuba yesterday.

    Crops Worth Rs 300 Million Destroyed in Saptari

    Meanwhile, the Saptari District Agriculture Development Office in its recent survey informed that the floods have inundated at least 15 acres of arable land and 20 acres of paddy field in Saptari District.

    According to Senior Officer at the District Agriculture Development Office Bhagirath Yadav, floods damaged paddy and vegetable crops worth Rs 250 million and fish ponds worth Rs 50 million, thus resulting in Rs 300 million worth loss.

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    Annual Inflation in Nepal Falls 12-year Low https://www.nepalisansar.com/news/annual-inflation-nepal-falls-12-year-low/ https://www.nepalisansar.com/news/annual-inflation-nepal-falls-12-year-low/#respond Tue, 22 Aug 2017 07:22:21 +0000 http://www.nepalisansar.com/?p=3590 August 22, 2017 Annual inflation in Nepal has declined to a 12-year low of 4.5 percent

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    August 22, 2017

    Annual inflation in Nepal has declined to a 12-year low of 4.5 percent in fiscal year 2016-17 due to a moderate rise in costs of food and non-food items.

    The inflation figure is lower than the Nepal Rastra Bank’s (NRB) estimate of 7.5 percent. This is the third time NRB had beaten its own inflation target inflation ever since it launched annual monetary policy in 2002-03. Prior to this, it was in 2003-04 and 2006-07.

    The latest Macroeconomic Report of the Nepal Rastra Bank (NRB) informed that annual inflation of the previous fiscal year that ended on July 2017 is the lowest since 2004-05.

    According to the report, consumer prices grew at a much slower pace than estimated in 2016-17 benefited by base prices of the fiscal year 2015-16, lower global commodity prices and improved supply situation.

    However, there exists uncertainty on whether the inflation would continue to be moderate because of the recent floods that have damaged Rs 8.11 billion worth crops across 31 districts of the country.

    As per the Ministry of Agriculture and Development (MoAD), the floods have so far damaged paddy Rs 3.18 billion, vegetables (Rs 2.96 billion), pulses (Rs 536 million), fishes (Rs 800 million), turmeric (Rs 340 million) and maize (Rs 241 million).

    However, MoAD is is yet to calculate the total loss caused by floods, which is likely to boost country’s import volume thus triggering inflationary pressure.

    Floods in Tarai Hike Vegetable Prices

    Shortage of supply due to recent floods in Tarai resulted in skyrocketing of vegetable prices in the Kathmandu Valley.

    Due to floods, vegetable supply in the Valley’s market has declined by almost 200 tonnes per day.

    Recent floods in Nepal have affected more than 16,474 hectares of vegetable farmlands in Tarai districts wiping out vegetables worth Rs 3 billion, which resulted in fall of supply volume.

    According to a local Kanchan Poudel, even Rs 500 seems insufficient to buy vegetables for a day.

    “Majority of ready-to-harvest vegetables in Tarai farmlands were swept away by the floods, which has largely affected the supply,” said Binaya Shrestha, Information Officer at Kalimati Fruits and Vegetable Market Development Board (KFVMDB).

    According to KFVMDB officials, increased transportation costs for traders, due to landslide-affected routes, is also a reason behind the rise of vegetable prices.

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    #NepalFloods2017: Industrial Activity and Trade Affected https://www.nepalisansar.com/news/nepalfloods2017-industrial-activity-trade-affected/ https://www.nepalisansar.com/news/nepalfloods2017-industrial-activity-trade-affected/#respond Mon, 21 Aug 2017 10:49:41 +0000 http://www.nepalisansar.com/?p=3535 August 21, 2017 Apart from loss of lives and crops, recent floods have also hit Nepal’s

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    August 21, 2017

    Apart from loss of lives and crops, recent floods have also hit Nepal’s industrial activity and trade, among others.

    Nepal Stock Exchange (Nepse) saw a decline in the last week because of fall in demand for shares outside Kathmandu Valley due to floods in Tarai. As of yesterday, Nepse fell 23.78 points down to close at 1,629.75 points last week because of the fall in demand for shares.

    The sensitive index that measures the performance of Group ‘A’ companies declined by 4.69 points because of a fall in index of commercial banks along with majority of other trading groups.

    Insurance faced a big hit out of the nine trading groups, while others also witnessed loss in their indices. Manufacturing sector was the second largest loser.

    “Due to the calamities, there was a massive fall in stock demand from investors who had been transacting from the remote work stations being operated from the flood-affected areas,” said Parmeshwor Bhakta Malla, Managing Director of Malla and Malla Stock Broking Company.

    According to Malla, the decline in Nepse was due to inundation of large plots of land in Tarai.

    900 Nepal-bound Cargos Stranded in India

    As the floods damaged railway tracks across different parts of Indian states, around 900 Nepal-bound cargoes were stranded at India’s Kolkata port.

    “The Indian railway authority has been repairing the damaged tracks. However, it is less likely that the authority will immediately open the track for cargo containers,” says Animesh Kumar, information officer at the Himalayan Terminals, the operator of Birgunj’s Sirsiya Dry Port.

    According to Kumar, it will take few more days to resume transportation services.

    Apart from railway tracks, the road transport infrastructure at the Birgunj Customs point, one of the key trading hubs of the country, is also poor. “The damaged roads have impacted revenue collection as well,” said Santosh Yadav, Information Officer at Birgunj Customs Office.

    Meanwhile, after suffering more than a week of inundation, the Biratnagar Airport has finally resumed its services partly today. However, it would take more than a month’s time to see services in full phase as many equipment and machinery in the airport were yet to be evaluated, informed Suresh Man Shrestha, Chief at the Civil Aviation Authority of Nepal, Biratnagar.

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