The investors have been on a hunger strike in front of the Nepal Stock Exchange (NSE) demanding the resignation of the Finance Minister Yuba Raj Khatiwada and Nepal Rastra Bank (NRB) Director Chiranjeebi Nepal.

Chairman of the Securities Board of Nepal Rewat Bahadur Karki, NSE Chair Laxman Neupane and Insurance Board Chairman Chiranjeebi Chapagain were among other officials targeted by the investors.

“The promises which the government authorities have been making for the improvement and upliftment of investors for last three-four years have not been fulfilled. We demanded swift implementation of measures to protect the interests of investors, but the government did not pay any attention. As a result, we have started the hunger strike to pressurize the government,” says Koirala, a senior economic journalist.

Koirala alleged that the Finance Ministry failed to bring in reforms in the national stock market situation.

“Finance Minister Yubaraj Khatiwada and the head of other regulatory bodies do not want to expand and improve the financial market because of which, we are now facing forced to go on a hunger strike demanding their resignations,” Koirala adds.

“The veteran economist is himself the Finance Minister. He is well aware of the issues but is acting indifferently. He has been ignoring 1.7 million share investors,” says Sushma Dhungana, one of the investors in the national stock market.

The investors published their 14-point demands calling reformation in the capital market, protection of investors and creating an investment-friendly environment in the country.

The group stands committed to continuing their protests until their demands are accepted.

What does the government have to respond on this? Let’s see!

The post Nepali Investors Allege Govt. Failure in Fin Market, Demand Upliftment appeared first on Nepali Sansar.

These electronic devices, also called as vaporizers, have penetrated many world markets as a substitute to regular cigarette giving a similar smoking feel, but not exactly.

E-cigarettes smoking or Vaping has become a trend among many, but many are yet to understand their ill-effects and severe damage to health.

Vaporizer is basically an electronic device powered by a battery and promoted as an alternative to regular cigarettes to overcome the smoking addiction.

Like a few other countries, Vaping trend has reportedly caught up Nepal too!

Vaping- Nepal’s Case
Controlling smoking addiction aside, vaping itself has turned into a new addiction among many Nepalis.

A Nepali engineer Pathak’s mother Kalpana Dhungana introduced vaping to her son to get him rid of the severe smoking habit. But that did not work out.

“I wanted to quit smoking so I switched to vaping, but contrary to our expectations, the outcome was different. There was no improvement. There was no positive result that encouraged me to stop smoking, therefore I stopped vaping,” says Pathak.

Besides, the alternative gave some additional loss to Pathak.

“It did more harm to me. I was spending around Rs 10,000 per month at the risk of my health. We should look for other alternatives than vaping to quit smoking because it clearly does not help,” Pathak adds.

Same was the case with many Nepali youngsters who considered vaping as an alternative to conventional smoking. Substitution aside, the resultant was more of high spending for buying liquid, coils and other accessories & add-ons required for such devices.

The vaping trend entered Nepali market around two years ago and was promoted as a must-needed gadget to control smoking habit or as a healthier alternative.

Eventually, the trend went on to rise and even dedicated vaping lounges started popping up in the Capital. Social media added to this trend opening ways for crazy ideas like ‘vaping contests’, among other ways.

Vape kits, liquids, accessories and add-ons started arriving across online and offline retail stores.

Smart designs of such devices looking similar to pen drives gave rise to the trend among youth, who started carrying them to colleges too.

While most of such products and related accessories come as imports from China, some vendors also get them as special orders from the USA and Malaysian markets.

“The price range of a full toolkit can range somewhere between Rs 4,500-45,000,” says Prajwol Basnet, one of the partners of Vape Nepal, the country’s leading sellers of vape kits and liquids.

“Vape users are on the rise because of its anti-smoking quality. People of all age-groups are our clients and have benefited from these products. These products are lab tested. Tobacco products have tar that is not present in the liquids. As far as I know, vaping has no adverse effect on health,” says Basnet, the seller of Vapes in Nepal.

Vaping Ill-effects & Awareness in Nepal
In contrast to Basnet’s claims, the international surveys and studies report various ill-effects of vaping habits.

They say that vaping can cause serious effects than conventional smoking.

A recently-published research by the American Journal of Physiology-Lung Cellular cited Greek scientists reporting that even short-term vaping can cause serious lung inflammation.

A group of researchers who conducted vaping trials on rats confirmed the above fact, raising serious suspicion on their long-term usage.

Currently, there is very less awareness in Nepal about the vaping trend and its harmful effects.

“I cannot comment on its health impacts as this is the first time I am hearing about vaping,” says Bhaktapur Cancer Hospital Medical Oncologist Dr Kamal Raj Soti.

If the country’s renowned cancer hospital doctor is saying that, we can gauge the level of awareness that the common public in Nepal has about vaping and its effects.

So, its high time that the Nepal Government and related stakeholders such as medical professionals start responding to the growing harmful trend and keep the public informed!

The post E-Cigarette Trend Catches Up Nepal, Public Awareness A Concern! appeared first on Nepali Sansar.

The move closely watched by Indo-Nepal communities, resulted in positive outcomes as evident in Oli’s statements after the successful completion of his three-day visit during April 6-8, 2018.

As part of the visit along with his wife and 53-member Nepali delegation, Oli held discussions and special meetings with the Indian dignitaries including President Ram Nath Kovind, Prime Minister Narendra Modi and other key political leaders and personalities.

Significant and Fruitful

“My official visit to India was significant and fruitful. The visit has helped in clearing misunderstanding

and mistrust, and strengthening mutual trust and understanding. The bilateral relations will move forward in a new direction on the basis of equality and mutual interest,” Oli said in a statement after arriving at the Tribhuvan International Airport in Kathmandu post his India visit, indicating a new era for Indo-Nepal bilateral ties under his government.

We have agreed to expedite past agreements and understandings reached between the two countries, he added.

As part of the visit, both the sides also discussed cooperation across various sectors. Let’s have a glance at some of the key highlights of sector-wise cooperation discussed during Oli’s visit:

In the bilateral meetings, India and Nepal agreed upon few key agreements that have been under discussion for quite some time.

Stating that both the Prime Ministers were satisfied with the bilateral talks, Indian Foreign Secretary Vijay Gokhale informed that the two sides discussed strengthening of cooperation through agriculture, trade, defense, security, along with enhanced connectivity through railway and water ways.

Both the sides have reportedly come to a consensus on taking ahead the construction of Raxaul- Kathmandu railway line and the operation of Nepalese steamers for goods and public movement from Nepal to other countries.

Trade, Security & Inland Waterways

Towards trade cooperation, the two sides decided to develop inland waterways within the trade and transit framework for a seamless movement of cargo between the two countries.

During the discussions, Oli also raised concerns over widening Nepal’s trade deficit with India and urged Indian Government to encourage more Nepali exports.

With regard to security, he said, “We have strong relations when it comes to the aspect of security. We will work together to stop misuse of our open border.”

Green Revolution and Connectivity                                                                                                                  

As part of visit to the Uttarakhand’s GB Pant University of Agriculture and Technology, where he was awarded the honorary doctorate (Doctor of Science), Oli urged India’s support for revolutionizing agriculture in Nepal.

“Both India and Nepal are agriculture-based economies and should work together in boosting agricultural output,” Oli said in a statement.

On the occasion, Oli also welcomed the University’s collaboration in revolutionizing the Nepali agriculture sector saying, “Looking towards Indian varsities like GB Pant, one of the harbingers of the Green Revolution, who can aid us in achieving our objectives in this regard… I think if the university and Nepal collaborate in the sector, agriculture in our country will get revolutionized through a technological boost.”

He further said India’s and the University’s support are key for strengthening the two agricultural universities in Nepal that are in the initial stages of development with the need for research support.

In response, Uttarakhand Governor K.K. Paul expressed the University’s willingness to collaborate with the Government of Nepal in the fields of horticulture and herbal farming.

Lauding Oli’s visit, Chief Minister of Uttarakhand Trivendra Singh Rawat urged for improved connectivity between Nepal and Uttarakhand, especially in the border areas of Tanakpur and Dharchula.

He also pitched for direct flights between Kathmandu and Dehradun.

Call for Investment

As part of the visit, Oli held a round of discussion with the Indo-Nepal business community, wherein, he urged the Indian business community to invest in Nepal.

Citing Nepal’s investor-friendly environment, Oli pitched for investments across infrastructure, tourism, IT, agriculture and power sectors.

Stating that Nepal has fair and investor-friendly policies along with a supportive policy regime, Oli called on the businessmen for massive foreign investment.

“Indian investors have invested across the globe, so why not go to the next-door Nepal. Geographical proximity, easy access and cultural similarities are all there to make you feel good about Nepal,” noted Oli.

Potential Market & Incentives

Speaking on market opportunities Nepal has for the foreign investors or collaborators, Oli said, “Investors always look for market. Look at Nepal’s position. For us, market is not a problem, but production is a problem. It is lying between two vibrant economic powers with huge population of the world — India and China. That assures you of a promising market of 2.5 billion people. Seize the opportunity.”

Lauding European markets for their duty-free access to Nepal, he said, “We are ready to listen to you, your advises and suggestions. We want to know your views. We are committed to further improving our business climate.”

Wooing foreign investors, he noted that Nepal offers attractive incentives compared to other countries by way of simplified tax regimes and reduced tariffs.

He also informed about Nepal’s plans to establish Special Economic Zones (SEZ) in the cities sharing borders India along with offering necessary incentives to the industries, forming liberal labor laws, among others.

First International Cross-country Pipeline

As part of the visit, Oli and Modi inaugurated the long-awaited initiative of Rs 3.24 billion worth India-Nepal petroleum pipeline from Motihari to Amlekhgunj. This is the first international cross-country pipeline project in India.

Under the project, Indian Oil Corporation will supply Nepal’s major petroleum products from its Barauni Refinery and Raxaul depot in Bihar to Amlekhganj depot of Nepal Oil Corporation.

The 69-km-long pipeline project involves setting up of a 10.75-inch diameter cross-country pipeline that stretches from Motihari in Bihar to Amlekhganj in Nepal, with 32.7 km of pipeline in the Indian territory and 36.2 km in the Nepali territory.

The design-throughput capacity of this pipeline, which has pumping facilities at Motihari, stands at 2.0 million tons per annum.

This major project signed in 2015 is expected to be completed by March 2019.

The End Note

Overall, Oli’s recent visit to India has opened avenues for new form of bilateral cooperation between Nepal and India contributing to a strong South Asia. Now, it’s time for wait and watch!

The post Oli India Visit 2018: India, Nepal Strengthen Ties, Target Next-level Development appeared first on Nepali Sansar.

In a move strengthening US-Nepal trade ties, the Government of United States has urged Nepal to make better utilization of the US trade facilitation program.

The US Ambassador to Nepal Aliana B Teplitz made a statement in this regard at a US-Nepal trade workshop held in Nepal, recently.

Nepal and US officials gathered for a workshop titled ‘Enhancing Nepal-US Trade by Utilizing Trade Preference Program’ jointly organized by Pavilion Group and the US Embassy in Nepal on October 10, 2017.

Addressing the gathering, Aliana said, “Clock is ticking for Nepali exporters and businesses to take advantage of the trade preference program offered by the US. The US-Nepal trade preference program creates an opportunity to expand the trade between the two countries. Nepali exporters and businesses have duty-free access only until 2025 to the US market for certain kinds of Nepali exports.”

She further stated that the special program under the Nepal Trade Preferences Act, which allows preferential treatment for certain exports from Nepal to the US, is a good opportunity for both the countries in strengthening economic ties.

In this regard, the US official said Nepal can increase its exports to US under the duty-free tariff facilitated by the trade preference program.

The program planned under the US Generalized System of Preferences (GSP) allows new duty-free tariff benefits for certain Nepali exports to the US, which includes carpets, headgear, bags, scarves, shawls, travel goods and leather.

Nepal’s Exports to US Can Be Doubled

Through this program, the US government intends to support the Nepali economy for its recovery from the 2015 earthquake. It has been effective from December 30, 2016 and is active until 2025.

Out of the total exports worth USD 89 million Nepal sent to the US in 2016, USD 6.75 million was exported under the duty-free tariff.

“The market potential for the products is obviously much greater. We hope that the USD 6.75 million can be doubled, if not tripled or quadrupled in the near future,” Aliana added.

In response, the Nepali Minister for Industry Sunil Bahadur Thapa said, “All these products can be manufactured and exported to the US and we can fully utilize the facility provided to us by the US if we come out of the comfort zone.”

Arjun Kumar Karki, Nepali Ambassador to the US said, “The private sector should make investment in the production of these items so that they can be exported to the US. If we would be able to do better, we can request the US Government for additional privilege.”

Made in Nepal Can Be of Special Advantage

On the occasion, Nepali exporters were also urged to try special ways to diversify and enhance their business as per the changing trends in foreign markets for full benefits.

“If more Nepali products are exported to the US, there would be high demand for these products, ‘Made in Nepal’ could be very powerful branding tool that you should take advantage of,” says Aliana.

Other experts, who had attended the workshop, opined that encouragement of production from Small and Medium Enterprises (SMEs), R&D and boosting connectivity in the domestic market can help Nepal in generating long-term business across foreign markets.

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