Maoist attack forces, bank in Waling to close

By Our Correspondent

WALING, July 11: Traders, businessmen and the common people here are suffering from the lack of banking services for the last eight months following the Maoist attack on the branch office of the Nepal Bank Limited.

The bank stopped operation after the Maoist terrorists attacked the Waling market and the bank on November 24 robbing about 20 million rupees cash, ornaments and other valuables. They had also destroyed all the documents of the bank.

The non-operation of the bank has posed severe problem to the depositors and investors. On one hand, the depositors have not been able to draw their money and on the other, people have failed to convert the draft sent from abroad.

A woman of Chinnebas is still carrying the draft sent by her husband in Saudi Arabia five months ago. The money was drafted on her account at the bank. "My husband had taken Rs. 50,000 loan from a neighbour. Now, the interest of the loan is adding up and I have not been able to pay the loan," she said.

The bank used to transact hundreds of thousand rupees daily and its non-operation so long has created financial crisis to all, said President of the Waling Chamber of Commerce and Industry Shyam Prasad Shrestha.

The non-operation of the bank has led to a sharp decline of monetary transaction in the district, said another businessman Sitaram Adhikary. Businesspeople said if the bank fails to operate for some more time, it would create a severe financial crisis.

Assistant Manager of the bank Shovakant Baral said the bank is carrying out works for the lost documents. He said a 90-day notice has been given to the depositors to claim for their deposits is over and the second phase of the 90-day notice for the same will be over by mid-September. "The bank may operate after that," Baral said.

STCL being equipped to meet demand of iodised salt

By A Staff Reporter

Kathmandu, July 11: The Salt Trading Corporation Limited (STCL) will set up iodination plants to meet the demand of iodised salt in several remote districts.

"The STCL has already established an iodination plant at Tatopani of Sindhupalchowk district to iodize salt imported from the Tibet Autonomous Region of China," said Parmeshwor Mahaseth, Chief Executive of the Corporation.

"The Corporation will set up another iodised plant in Humla and inspect the sites in Mugu and Dolpa for the same purpose by the end of this month," he said.

He said that the Corporation would continue to supply salt in those remote districts at a subsidized price.

Currently, the Corporation supplies salt at subsidised price in 22 districts, which include 13 remote and nine are partially remote districts. The subsidised salt is sold for Rs 1 to Rs. 7.40.

After the local people from the remote districts complained that subsidised salt does not meet their demand, the Corporation made special efforts to fulfil their need," Mahasheth said.

"We supply salt according to the requirements of the district, but sometimes the salt is consumed by people of outside the district causing the shortage," he said. He said inconvenience and security reasons also hamper the supply of the salt in those areas.

He said that the Corporation is seeking alternative ways to supply salt to districts facing the shortage.
These districts need about 30,000 quintals of salt annually. This year, the Corporation has already supplied 27,000 quintals to those districts and the process for supplying the remaining salt is underway, the Corporation said.

He said because of subsidise, iodised salt is cheaper in Nepal than in India. In Nepal salt with 50 PPM (parts per million) iodine cost Rs. 4 to Rs. 8.50. In the Indian market salt with 15 to 30 PPM iodine cost IC Rs. 7 to 12. But the Corporation may readjust the price of iodised salt after the Indian government cut the subsidy in salt, Mahaseth said. "This has increased the railway fare to 85 paisa per kg while transporting salt from India to Nepal."

This year Rs. 60 million has been subsidised for the transportation of the salt in the remote districts.
In near future, the Corporation is going to readjust the price of the iodised salt after the India government cut its subsidies in salt, he said.

It means the Corporation may hike the price of salt by 50 paisa per kg, said a Corporation source.
Iodised salt has been key element for the human being as well as animal. Salt must 96 per cent sodium chloride for its purity. If salt contains only 90 per cent sodium chloride, it means it is impure by ten per cent.

Deficiency of iodine in the diet has been one of the major causes for the mental retardation and can lower the average intelligence quotient (IQ) of the people. The deficiency of iodine can also cause goiter, stunting and cretinism.

According to a study, an individual consumes about 2.50 to 4 kgs of salt per year. A study showed that the urban/rural different in using adequately iodised salt of above 15 PPM is very high. About 87 per cent of the urban household use adequately iodised salt but this figure is only 59 per cent in the rural areas.

The country needs 150,000 metric ton salt annually and this year the Corporation imported 177,000 metric ton. The Corporation has the capacity to stock 75000 metric tons of salt It has eight plants, which can iodise 30 tons of salt daily. It sells salt with different brand names like Ayo, Shakti, Tej and Bhanu. The Bhanu brand is subsidised and is sold only in the remote districts.

Budget ignored agriculture: NSP

By A Staff Reporter

Kathmandu, 11 July: Nepal Sadbhavana Party (NSP) has blamed the government of neglecting the agricultural sector while presenting the estimated budget for the upcoming Fiscal Year.

"The country's major chunk of economy depends on agriculture which is terribly sick. Yet, the budget has grossly ignored this sector and we oppose that," stated the party's press release issued here today.

"The estimated budget has dramatically slashed the allocation for agriculture," read the press statement. "The grant that used to be provided for fertilizer has been stopped. Same is the case with small irrigation. In other words, farmers have been left in the lurch and that means the whole economy would suffer."

Even as this budget has accepted some ground realities, its strategy will not be able to attain the objective of poverty alleviation, NSP said. "Since only sectoral approach have been taken up for development so far, the regional potentials and sources have remained unutilised and so the country is in serious economic crisis."

The concerned political parties should take the responsibility for the mess the country is in today, NSP said.