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VOL. 27, NO. 7, September 28, 2007 (Ashwin 11 2064 B.S.)
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THE NEPAL STOCK EXCHANGE (Nepse) index gained 61.8 points in the past one week. Pushed by soaring prices of shares of commercial banks and financial institutions, the Nepse index reached 879.96 points from 818.16 points in a matter of one week. In another development, the price of gold has also surged in the local market. According to Nepal Gold-Silver Traders Association, the price of gold increased by Rs 407 per tola to reach Rs 18,102 per tola. The association has said that gold price has increased in the international market due to weakening dollar and rising price of fuel oil.
NEPAL TELECOM AND CHINESE COMPANY CITTC signed a contract on Sunday (September 23) to lay an Information Superhighway Cable Line from Kathmandu to Khasa along the Araniko highway. The total cost of the project will be Rs 25.4 million and Chinese government is providing aid for it. The project is targeted to be completed within nine months. According to Nepal Telecom, the superhighway will provide cheap and reliable voice, data, internet, video and television signals. Videoconference, tele-education and tele-medicine can be easily accessible. The superhighway will also help Nepal become a transit country between China and India, according to NTC
THE GOVERNMENT IS PREPARING TO SPLIT the Department for Labor and Employment Promotion into two separate departments for labor and foreign employment. It is said that the decision to split the departments was made since the joint department lacked effectiveness. According to Uddhav Prasad Baskota, spokesperson of the Ministry of Labor and Transport Management, a proposal to create two departments has been submitted to the cabinet for approval. Following the restoration of democracy, there has been a surge in trade union activities forcing the government to consider setting up a separate department for labor.
JAMES P LEAPE, DIRECTOR-GENERAL of the WWF International, one of the major partners in Nepal's wildlife conservation efforts, today said Nepal should lay emphasis on cross-border conservation programs. " Nepal has to work beyond political boundaries because nature knows no boundaries," Leape said. Leape is in the capital to pay tribute to those conservationists who died in a chopper crash in Ghunsa of Taplejung district a year ago. He added that cross-border conservation programs can bring immense changes in the landscape on a broader scale and also assure sustained conservation. He also urged Nepal to work in close cooperation with neighboring countries in the field of conservation of animals and plants of the Himalayas and the southern plains. " Nepal is doing a remarkable job in conservation with community participation and is raising awareness to the extent that Nepal's success stories have become a role model in the world's conservation efforts," he added.
JAPAN HAS RECENTLY APPROVED the utilization of the Counterpart Fund of Rs 295.35 million for the implementation of different ongoing projects. The projects in which the fund would be utilized include seven related with agriculture. They include projects aimed at enhancing agriculture production, agro-extension, sericulture development, providing subsidies for repairs of small-scale irrigation systems through farmers' groups and/or cooperatives, fisheries development and agriculture research. Likewise, the fund will also be utilized for community development and forest/watershed conservation project. "The Counterpart Fund was established through the financial assistance extended by the Government of Japan to increase agriculture production under KR2 (The Grant assistance for underprivileged farmers). The Government of Nepal has procured fertilizer through this assistance, and sold it in the domestic market to prevent acute shortage and unexpected price hike. The amount collected from selling the fertilizer was deposited as a Counterpart Fund. The Fund can be utilized for implementing various social and economic development projects through consultation between the two governments," says a statement by the Japan Embassy.
THE SOUTH KOREAN GOVERNMENT through the Korea International Cooperation Agency (KOICA) will support to establish the Government Integrated Data and Training Center in Nepal . Korean Ambassador to Nepal , Nam Sang-jung and Joint Secretary in Foreign Aid Coordination Division in the Ministry of Finance, Krishna Gyawali signed the MOU for the Project worth US$ 3.5 million on September 19, 2007 . “Through this project, KOICA will support to build infrastructure of e-Government by establishing a Government Integrated Data Center (GIDC) in Singha Duarbar, Kathmandu . KOICA will also provide equipment and materials necessary for the operation of IDC and IT Training, and support the capacity building in the ICT field of Nepal through training programs,” says a statement by KOICA Nepal office. At the signing ceremony, Ambassador Nam said that this project would contribute to laying the foundation for e-Government in Nepal . Ambassador Nam added that the resulting benefits for e-Government were enhanced transparency, better services to citizens, administrative cost reductions and etc. Recognizing that ‘bridging the digital divide’ is one of the most important determinants to alleviate poverty and to facilitate sustainable economic growth for developing countries, KOICA has given to extend assistance to partner countries to share the benefits of information technology and develop digital opportunities. Other than this project to Nepal , KOICA has supported to establish 11 School Tele-centers in districts and also developed Cyber Nepali dictionary for the public use. KOICA dispatches about 5 Volunteers annually in fields of computer and electronics as well.
