BUSINESS & ECONOMY

Lumbini to buy Cessna F 406 aircraft

By A Staff Reporter
Lumbini Airways is bringing in the commuter version of Cessna F-406 as an alternate to the Twin Otter, the workhorse aircraft for Nepal for nearly twenty five years.

Although hundreds of Twin Otters are still in operation around the world, it is no more in production. Thus, operators may be thinking of finding a replacement for the plane.

Raju Sakya, Managing Director of Lumbini Airways said that he felt the need of introducing a newer type of aircraft for the Twin Otter, and he saw a good option in the F 406. The airline was also the first private sector operator of  the Twin Otter.

A presentation programme of the French-built plane was organised in Kathmandu on Sunday.

Three demonstration flights of the aircraft, including two mountain flights, also took place on Monday.

The aircraft is produced by Reims Aviation, a French aviation company. According to a press release of the manufacturer it is a fast, powerful, efficient and versatile.

The plane can carry 2.2 tonnes of cargo and the maximum cruising speed of the plane is 246 knots. The optional cargo pod on the belly of the aircraft can provide 705 lb of cargo or almost 46 cubic metres of cargo space, but with only 4 knots of speed penalty.

The manufacturer also say the plane has a very low maintenance cost and its reliability is one of the best in comparison to the similar aircraft. It also says the cost per seat ratio is one of the lowest in its category. The big windows also make it an ideal for mountain flights.

The twin engine aircraft is powered by two Pratt & Whitney turboprops each with 500 HP thrust.

The plane can set upto 12 passengers in the commuter version or up to 8 in the large seat executive model.

Lumbini Airways’ is also buying a SAAB 100 aircraft, which it hopes to receive in February.

Economic journalism seminar held

By A Staff Reporter

Economic development and media have an interdependent relationship. Right economic journalism can help in attaining high growth rate while irresponsible reporting could undermine the development procedures in a country.

As such, economic journalists should promote a climate conducive to private sector development and privatization by discharging its responsibility in a most objective, professional and sincere manner, said the participants at the recently held “Economic Journalism Seminar”.

The two-day seminar was organized by Adam Smith Institute, a London-based organization, in association with the Ministry of Finance last week at Fulbari Resort, Pokhara.

On the occasion, speakers including both foreign and Nepalese journalists discussed on various aspects of economic journalism and also highlighted on the role of economic journalism in the economic development of a country.

Speaking on the occasion, Prof. Madesn Pirie, President and Founder of Adam Smith Institute (ASI), Aneela De Soyza, Director Parastatal Sector Reform Commission of Sri Lanka, Steve Masty, Communication Director of ASI, Daniel Lak, New Delhi-based correspondent of BBC and Keith Rupp, Press Officer, United States Congress highlighted on various issues of privatization in relation to the economic development and the role the economic journalists can play towards dissemination of right information to the general public through investigative journalism.

Likewise, other speakers including Dr. Nirmal Bista, Executive Director, Industrial Enterprise Development Institute, Tul Raj Basyal, Senior Economic Advisor, Ministry of Finance, Tanka N Khanal, Chief, Privatization Cell of Ministry of Finance also presented various papers throwing light on what Nepali journalism need to do to address the challenges the country’s economy is facing.

Similarly, Ram Krishna Regmi, Vice President of Nepal Press Institute, Murari Prasad Upadhaya, Editor, Himalaya Times, Jana Sharma, Senior Journalist and Ameet Dhakal, Sub-Editor, The Kathmandu Post, spoke on various aspects of economic reporting in Nepal.

“More time for Nepal to prepare for WTO”

By A Staff Reporter

Civil society organizations that  gathered to attend the ‘Post-Seattle Briefing’ felt that the failure of the Seattle Conference of the World Trade Organization (WTO) should be uitilized by the Nepalese government as an opportunity to consult with the civil society in formulating its future trade policies.

Addressing the gathering, Dr. Hira Mani Ghimire from the Ministry of Commerce mentioned that the failure of Seattle Conference has give more time to the developing countries to prepare themselves for the upcoming negotiations to be held in Geneva next year. “We should encash this opportunity by formulating future trade policies,” he added.

Speaking on the occasion, chairperson Dr. Ramesh Khadka, Country Director, Action Aid Nepal, said that such agreements as Trade Related Aspects of Intellectual Property Rights (TRIPs) and Agreement on Agriculture have direct bearing on the foods security of the net food importing developing countries.

“Such agreements should be amended to suit the requirement of the countries who are adversely affected by these agreements,” Dr. Khadka added.

Ratnakar Adhikary of Form for Protection of Public Interest (Pro Public) said that the failure of the Conference should be taken as a lesson by the developed countries. “Developing countries cannot and should not be taken for granted as their capacity to negotiate and safeguard their interests has increased tremendously over the past five years” he said.

“This was possible only due to the open attitude of some of the governments who interact with the civil society actors while preparing their negotiating positions,” Adhikary further added.

Similarly, Prof. Ram Prakash Chaudhary of Nepal Forum for Bio-diversity Conservation mentioned that their are certain loopholes in the TRIPs Agreement, which should be utilized to protect the bio-diversity of Nepal.

“However, such loopholes should be meaningfully utilized by the government while amending its patent legislation,” he further added.

Altogether 60 participants from the civil society, media, academia and government ministries participated at the Briefing programme which was jointly organized by Pro Public and Action Aid Nepal.

How to make foreign aid Work

By A Staff Reporter

The Kathmandu offices of four major donor agencies, the Asian Development Bank, Department for International Development (DFID), UNDP and the World Bank are organising a public discussion on development and the effectiveness of foreign aid this Friday in Kathmandu.

The discussion will be held at the Birendra International Convention Hall. The discussion programme will be opened by Finance Minister Mahesh Acharya and one of the key speakers at the programme will be David Dollar, lead author of the recent World Bank  Report ‘Assessing Aid-What Works, What Doesn’t and Why?’

Similarly, of the two Nepalese presenters Dr. Narayan Khadka will be presenting a paper on Foreign Aid and Foreign Policy: Major Powers and Nepal and Keshav Acharya of the Citizens Poverty Watch Forum will present A Review of Foreign Aid in Nepal.

According to a press release of the organisers, this discussion could be particularly important as His Majesty’s Government is in the process of formulating a foreign aid policy together with its development and partners and preparing for a Development Forum (formerly known as Nepal Aid Group) meeting scheduled for March, 2000. r