Bloated budget raises inflation fear - Epaper

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Bloated budget raises inflation fear
Finance Minister Bishnu Poudel tables Rs 1048.92 billion financial outlay, exceeding the initial ceiling of Rs 909 billion
PRITHVI MAN SHRESTHA
KATHMANDU, MAY 28
Finance Minister Bishnu
Poudel on Saturday presented
a bloated budget of Rs 1048.92
billion, exceeding the Rs 909
billion ceiling set by the
N at i o n a l
Planning
Commission, raising fears of
another year of high inflationary pressure coupled with
poor implementation.
The budget, despite putting
a strong emphasis on reconstruction and infrastructure
development, has stretched
the available resources too
thin across many new and old
programmes.
“The higher allocation and
salary hike could cause inflationary pressure,” former
finance minister Surendra
Pandey, a member of the ruling CPN-UML, said.
The government has hiked
the salary of government
employees by 25 percent.
Pandey also described
budget allocation for big projects as “somewhat scattered”.
Pandey is also sceptical
about the government’s capacity to spend the huge amount
of budget, particularly the
capital expenditure.
“The budget aims to attain
6.5 percent growth, but if we
don’t improve spending capacity, this is not going to happen,” he told reporters after
the budget was tabled at
Parliament.
Economist Keshav Acharya
put it simply: “The budget is
too big.”
“This kind of budget can be
expected only in developed
countries,” said Acharya.
mixed reaction
from private
sector
It is very good budget but
implementation remains
doubtful — Suraj Vaidya
POST REPORT
KATHMANDU, MAY 28
“Such a huge budget amounts
to nearly 50 percent of the
GDP.”
As agitating Madhesi parties remained absent when
the government tabled its fiscal budget in Parliament,
some fear it could pose a serious challenge when it comes
to implementation part, given
the fact how political instability has affected spending
capacity in recent years.
The budget has not introduced many programmes
focusing on the Tarai.
Resources have been allocated for border area development programme focusing on
20 districts of the eastern
Tarai, while postal roads connecting many districts of the
Tarai have been allocated significant budget.
The government has allocated Rs4.2 billion for postal
roads.
With the hope of post-earthquake reconstruction work
speeding up in the next fiscal
year, the budget for reconstruction has been increased
by 53 percent to Rs1.4 billion.
The government has also
Keshav Acharya,
economist
]
doubled the allowance for senior citizens, widows and marginalised groups.
The budget has given continuation to its “Afno Gaun
Afai Banau” by doubling the
resources for village development committees.
government
has
The
increased the budget for the
controversial Constituency
Development
Programme
(CDP). Each lawmaker now
can spend up to Rs 35 million
in his/her constituency.
Earlier, the fund allocated for
the CDP was Rs 15 million.
As Nepal aims to become
bridge between India and
China, the budget has put
strong emphasis on developing north-south roads connecting Indian and Chinese
border points.
announced completing the
road
connecting
Rasuwagadhi. Funds have
also been allocated for connecting another border point
Hilsa in Humla. There is also
a plan for conducting detailed
project
report
of
Rasuwagadhi-Pokhara-
Reserve from
this year
Rs 59.41b
Total Budget
Rs 1,048.92b
Source of
financing
Internal loan
Rs 111b
Foreign loan
Rs 195.71b
Foreign grant
Rs 106.89b
Revenue
Rs 565.89b
Recurrent
Rs 617.16b
infographics: Deependra Karna
Govt in bid to please all,
says Nepali Congress
Argues budget fails to focus on economic progress
BINOD GHIMIRE
KATHMANDU, MAY 28
Coming close on the heels of
government’s announcement
to hold the local elections by
the end of this year, the ambitious budget unveiled on
Saturday is more focused on
“securing votes by pleasing
every section of society” than
ensuring economic progress,
the leaders from the opposition parties said.
Bypassing the Rs909-billion
ceiling, the government
announced a huge budget
incorporating a number of
‘populists’ programmes like
doubling the budget of local
bodies and the Constituency
Development Fund. It has also
tried to win the heart of government officials and general
public by increasing the salary by 25 percent and doubling
the senior citizen and widow
allowance to Rs2,000 per
month.
The
government
has
announced to hold the local
election by December though
a majority of parties, including ruling UCPN (Maoist)
have opposed it.
Under the new provision, a
lawmaker can spend up to
Rs35 million in his/her electoral constituency. Similarly,
each VDC will get to spend the
budget between Rs3 million to
This is a politically
motivated expansionary and inflationary budget
Ram Sharat Mahat,
former finance minister
and NC leader
Dozens of projects
in the budget have
been announced
without any study
Mahesh Acharya, former
finance minister
and NC leader
Mahat. He said that the new
budget will only increase the
inflation rate which is already
too high.
The budget tabled by
Minister of Finance Bishnu
Poudel aims to attain the economic growth of 6.8 percent
and contain the inflation to 6.5
percent. The economic survey
presented by the government
on Wednesday has estimated a
growth rate of just 0.77 percent for the current fiscal year
and inflation at 9.5 percent. In
the name of appeasing the
public, Mahat claimed the
government has come up with
a numerous projects which
cannot be implemented even
in next 10 years.
“Dozens of projects in the
budget have been announced
without any study,” claimed
another NC leader Mahesh
Acharya. The government has
scattered the budget here and
there just to show that there
has been a high expenditure,
he said. The survey shows the
Capital Expenditure in last
eight months of the current
fiscal year is just around 24
percent. Even leaders from
the ruling parties are sceptical over the implementation
of the present budget.
Pushpa Kamal Dahal,
chairman of the Maoist
Centre, said that though the
budget has tried to focus on
reconstruction, implement
constitution and conclude the
remaining works of peace
process it lacks many things
that need to be corrected.
“There are many issues. We
will publicise it after studying
the budget thoroughly,” he
said. The thematic discussion
of the budget will continue for
four days starting on Monday,
while the lawmakers will get
to table their amendment for
three days starting on Friday.
[
The private sector has given
mixed reaction to budget
tabled at Parliament on
Saturday.
According to representatives of the private sector, the
new budget has rightly put
emphasis on infrastructure
and agriculture and is overall
a good budget. However, they
doubted that it could be fully
implemented given the bad
track record of government
where it has failed to implement
plans
announced
through budget.
“It is very good budget,”
said Suraj Vaidya, president
of SAARC Chamber of
Commerce and Industry. “But
the implementation remains
doubtful.”
Pashupati
Murarka, president of the
Federation
of
Nepalese
Chambers of Commerce and
Industry, also welcomed the
budget, saying the private sector is encouraged to see “the
government’s will power to
develop infrastructure”. “But
effective implementation is
the key,” said Murarka.
Hari Bhakta Sharma,
chairman of Confederation of
Nepalese Industries, however,
took exception to the size of
the budget, saying it is too big
and might bring inflationary
pressure. “We have a bad
track record when it comes to
capital expenditure,” said
Sharma. “But, recurrent
expenditure will take place
anyway. This will create inflationary pressure.”
Surendra Pandey, former
finance minister and UML leader
The budget is too big.
This kind of budget is
expected only in
developed countries
Principal
repayment
Rs 10b
[
Budget is too big. We have
a bad track record when
it comes to capital
spending — Hari Bhakta Sharma
[
The higher allocation
and salary hike could
cause inflationary
pressure
Lumbini within the next two
years.
announced construction of
fuel storage tanks to sustain
fuel demand for at least 90
days. Currently, Nepal’s
fuel storage capacity is
just for 17 days.
The government
has also sought to
discourage fossil
fuel imports by
imposing Rs 5 per
litre as “infrastructure tax”.
The amount collected
from
infrastructure
Financing
tax will be used
in hydropower
Rs 119.81b
development,
according to
the budget.
Capital
The governRs 311.94b
ment
has
announced
exemption of electricity
demand
charge by 50 percent
if
any industry’s
capacity is underutilised by 50 percent during
blockade.
Economist Acharya said
this would help the private
sector, which suffered from
the blockade, to revive.
The
government
will
depend on foreign aid for
nearly one third of resources.
Former finance minister
Mahesh Acharya, a Nepali
Congress leader, said he is
scpetical about government’s
capacity to raise such a
huge amount foreign aid. The
plans
to
government
spend foreign aid of nearly
Rs300 billion.
Rs 20 million, while the budget
for the municipalities will be
at least five times the amount.
“This is a politically motivated expansionary and inflationary budget,” said Nepali
Congress leader and former
Finance Minster Ram Sharan
C M Y K
budget for fiscal year 2016-17
Rs 5.9b for improving
water supply in Valley
POST REPORT
KATHMANDU, MAY 28
The
government
has
announced that the first phase
of the diversion tunnel work
of Melamchi Drinking Water
Project (MDWP) will be
completed along with water
processing centres within
this fiscal year to pave the way
for water distribution by
October 2017.
Presenting the budget for
fiscal year 2016-17 on Saturday,
Poudel allocated an additional
Rs5.9 billion for the completion of Melamchi Project.
The government had earlier claimed that the first phase
of the Asian Development
Bank-funded project would be
completed by April 2017,
and that the Valley would
get 170 million litres of water
per day.
However, the plan could
not be materialised due to the
devastating
earthquake
of last year and the Indian
blockade.
Paudel also announced an
ambitious plan of second
phase of the MDWP, under
which an additional 340 million litres of water will be
thekathmandu post 02
news
Sunday, May 29, 2016
Govt toughens ban on plastic bags
POST REPORT
KATHMANDU, MAY 28
The government has decided
to toughen the plastic bag
ban campaign in the country, considering its impact
on human health, local environment and urban beauty.
The budget for the fiscal
year 2016-2017 unveiled on
Saturday has stated that the
import and export, sales, distribution and use of toxic
plastic and polypropylene
bags would not be allowed in
the country.
The government has
instead encouraged the plastic manufacturers to move
towards alternatives to plastics by providing waiver on
Value Added Tax for the
import of machinery. The
manufacturers who want to
shift away from the plastic
companies will have to pay
distributed daily to suburban
areas outside the Ring Road
by brining water from Yangri
and Larke rivers. The government plans to complete the
one percent custom duty.
In April last year, the
Ministry of Environment
had enforced the ban on
plastic bags with thickness
below 40 microns in
Kathmandu Valley.
However, a year on the
Valley is still grappling with
the challenge in implementing the ban effectively
despite the provision of penalty up to Rs 50,000 to those
found producing plastic
bags.
Authorities
at
the
Environment
Ministry
claimed the plastic ban in
Kathmandu remained unimplemented due to lack of
support and coordination
from other concerned ministries, including Ministry of
Federal Affairs and Local
Development, and Ministry
of Industry and Ministry of
Agriculture.
second phase by 2021.
A detailed design of the second phase of the project will
be completed within a year,
said Krishna Prasad Acharya,
“Without educating people about the negative
impacts of non-degradable
plastic bags on public health,
and offering better alternatives to plastic bags, the
attempt to discourage the
use of plastic bags that
is widely used in day-today life is impossible,”
said Rama Sharma, a housewife
from
Lokanthali,
Bhaktapur.
From our past campaigns
and decisions taken to discourage the use of plastic
bags, we can say that without strict monitoring and
commitment from the concerned authorities, and public support to discourage
plastics and move towards
other alternatives, effective
enforcement of the ban
remains a big challenge,
says Ganesh Shah, former
environment minister.
executive director at the
MDWP. “We have planned to
go for the implementation of
the second phase of the project next fiscal year.”
Republic Day observed
President,
PM extend
greetings
RASTRIYA SAMACHAR SAMITI
KATHMANDU, MAY 28
President
Bidya
Devi
Bhandari has wished that
the
Republic
Day-2073
inspired all Nepali people to
move ahead for building
peaceful, prosperous, balanced and inclusive Federal
Democratic Republic Nepal
on the basis of unity and
cooperation.
In her Republic Day message delivered on Saturday,
the head of the state said
political conflict and transition the country was facing
for a long period had come to
an end and the Nepali people
have become fully sovereign
with the promulgation of the
constitution through the historic Constituent Assembly.
Later in the day, President
Bhandari graced a special
function at the Army
Pavilion to mark the
Republic Day.
Vice-president
Nanda
Bahadur
Pun,
Prime
Minister KP Sharma Oli,
Speaker Onsari Gharti,
Acting Chief Justice Sushila
Karki and other distinguished personalities also
attended the function.
In his address on the occasion, Prime Minister Oli said
n President Bidyha Devi Bhandari, Vice President Nanda Bahadur Pun, Prime Minister KP Sharma Oli,
and others release pigeons as the symbol of peace during the Republic Day function at Tundikhel in the
Capital on Saturday.
POST PHOTO: SANJOG MANANDHAR
it was a day of important
achievement with the establishment of republic as the
cornerstone of social justice
and equality, and by doing
away with the monarchy
based
on
unscientific
principle of supremacy
by birth.
Students facing hard time in makeshift classrooms
SUDIP KAINI
GORKHA, MAY 28
Pupils of Himalaya Higher Secondary School study in a temporary
classroom, at Simjhung in Gorkha. POST PHOTO: SUDIP KAINI
n
Anita Baram of Bindrawati
Higher Secondary School at
Masel in Gorkha district was
injured on Wednesday when
the roof was blown away by a
strong wind.
“I received a cut on my
head when zinc sheets fell on
me,” said the 10th grader.
Students studying in such
makeshift classes are constantly exposed to such risks.
Besides, scorching heat in the
afternoon makes it very difficult to conduct teaching-learning activities.
Giriraj Lamichhane, headmaster,
Pravat
Higher
Secondary School in Dhawa,
said the school management
has started classes in the
morning to avoid scorching
heat.
“But we cannot avoid the
risk of roofs being blown
away by strong winds,” said
Lamichhane.
Devi Prasad Nepal, a teacher of Himalayan Higher
Secondary
School
in
Simjhung, said temperatures
soar up to 38 degrees Celsius
in the afternoon. “Students
are even falling unconscious.”
Studying in these makeshift classrooms is very difficult, said Shayam Nepali, a
student. “It’s simply impossible to concentrate during the
day.” Rambabu Paudel, headmaster, Bhagawati Higher
Secondary School in Darbung
all the schools that were damaged by the earthquake last
year are running classes in
makeshift classrooms and are
facing a lot of problems.
“How long can we run classes like this?” said Paudel.
According to the District
Education Office (DEO),
around 3,000 classrooms were
destroyed in the quake last
year. The DEO said it is planning to construct school buildings in the district within two
years.
“We should take the republic day today as an epochal
time when the foundation of
a people-oriented and democratic system of governance
was laid to build a modern
Nepal,” the PM said.
Nepal Army, Nepal Police,
Armed Police Force, repre-
sentatives of the district
development committees,
municipalities, sport associations, athletes and locals
made a march-past, and took
out processions and parades
evoking various cultures,
traditions, dances and musical instruments.
Birgunj entrepreneurs
demand security
POST REPORT
BARA/PARSA, MAY 28
Local
entrepreneurs
of
Birgunj on Saturday submitted a memorandum to the
Chief District Officer in Parsa
demanding their security.
Their move follows the
abduction of Suresh Kedia, a
member of
the Kedia
Organisation. An armed gang
of six-seven men, who came
on a white vehicle with an
Indian registration number,
abducted the 56-year-old businessman from Baghaban
along the Kalaiya-Mahagadhi
road in Bara on Thursday
evening. Kedia was going to
Birgunj from Kalaiya in his
car at the time.
Bara Chief District Officer
Krishna Prasad Dhungana
said they have intensified
search for Kedia. Nepali
authorities have also asked
the Consulate General Office
of India in Birgunj for help in
the search effort.
C M Y K
03
thekathmandu post
news
Infra to be made disabled-friendly
POST REPORT
KATHMANDU, MAY 28
The
government
has
announced to make all state
infrastructure
disabled-friendly.
The budget for the fiscal
year 2016-2017 has a programme to make public places
friendly for people living with
disability but it falls short of
spelling out the operational
timeframe.
The budget has also doubled social security allowance
for senior citizens, single
women and people living with
disability, allocating Rs37.59
billion under the heading.
As per the announcement
made by the finance minister
on Saturday, disabled people
carrying the red card will now
get a monthly allowance of
Rs2,000 while those with the
blue card will be entitled to
Rs600 a month. Totally disabled people get the red card
while those partially disabled
are given blue cards.
The increase in the sum
and announcement to make
schools, bridges and government
buildings
disabled-friendly received mixed
feedback from stakeholders.
“Even after doubling our
social security allowance, the
government has not been able
to carry out the Supreme
Court’s order to provide cash
enough for the people living
with disability to sustain
their life,” said Sudarshan
Subedi, president of the
National Disabled Federation,
Nepal.
Subedi, however, hailed the
decision to make public facilities including schools, banks
and hospitals disabled-friendly, honouring the apex court
order of 2014.
SOCIAL SECURITY ALLOWANCE DOUBLED
n
Social security allowance
doubled for senior citizens,
single women and people
with disability
nPresident Women Promotion
Programme to empower
women by ending gender-based violence, providing income generation skills
and developing entrepreneurship skills
nAll government facilities to
be made disabled-friendly
The Supreme Court in
August 2014 had directed
the government to pay at
least Rs3,000 to partially
disabled and Rs5,000 to
totally disabled people and
also to make public places
disabled-friendly.
As per the budget, senior
citizens will now get an
allowance of Rs24,000
annually while single
women will be entitled to
Rs12,000. Even the doubling of social security
allowance has not satisfied
some senior citizens who
say it is not enough to meet
the soaring costs.
“Our demand for monthly Rs5,000 has not been met.
We’ll continue our protests,” said Maha Prasad
Parajuli, president of the
senior citizens struggle
committee.
The government has given
continuity to old programmes
“to boost self-esteem of the
people with disability” while
opening up a rehabilitation
centre for them is also in the
offering.
The budget also announced
to rescue and rehabilitate
street children. Temporary
shelters would be provided for
Budget for health sector up
POST REPORT
KATHMANDU, MAY 28
HEALTH
Rs 36.7b
Rs 40.5b
EDUCATION
Rs 98.6b
Rs 116.3b
The government has earmarked Rs40.56 billion for
the health sector for the
upcoming fiscal year, a 24
percent rise from the last
fiscal. But its share of the
total budget is only 3.8 percent, less than last year’s
share.
The budget has proposed
establishing new medical
colleges in each federal
province. Work to establish
medical schools in Bardibas,
Surkhet and Butwal would
begin this year.
For the One Village,
One Doctor programme,
the government plans to
provide scholarships for
students of the same
village without making
Rs 2.5b for health insurance
Rs 1b for free healthcare for
eight diseases
nRs450m for MD/MS
scholarships
n
them sit for the national
entrance test.
In the next three years,
the government aims to
provide the health insurance cover for the entire
population. By next year,
the programme currently
being run in three districts
Special focus on schools
POST REPORT
KATHMANDU, MAY 28
victims of gender-based violence and income generation
training offered to women victimised by child marriage and
dowry system.
The “President Women
Promotion Programme” seeks
to empower women by ending
gender-based violence and
developing entrepreneurship
skills. Women will be given
seed money to start their own
businesses.
n
will be extended to 25 districts. For this, the government has earmarked over
Rs2 billion. Treatment for
renal, liver and cancer diseases will be made free of
cost. Journalists will also
get 50 percent discount at
government hospitals.
The government plans to
procure medicines that are
distributed free from domestic pharmaceutical companies. The finance minister
has proposed extending
healthcare services to rural
districts through extended
programmes of medical
colleges.
Under this model, every
medical college will be asked
to choose its teaching district, where they will be
responsible for delivering
healthcare services.
The government has earmarked Rs116 billion for
the education sector, which
is around 11 percent of the
total budget.
In the annual budget presented on Saturday, the government set aside a whopping
Rs26 billion to implement the
School Sector Development
Programme, which replaces
the School Sector Reform
Programme.
The SSDP aims to make
education accessible to all the
children and improve the
quality of education in
schools across the country.
The government has proposed to complete the reconstruction of schools in the
next three years.
The budget states that education up to the eighth grade
will be made compulsory and
free while that would be replicated in the secondary level
gradually.
The government has proposed special programmes for
the Tarai region to attract
children to school. For the
children of Badi, Haliya,
Musahar and other marginalised communities, the government has announced a voucher-based education system.
Under this, cash vouchers
would be provided to the parents for enrolling their children in schools of their
choice.
continued with the mid-day
meal programme in the entire
Karnali zone and other districts ranking low in the
Human Development Index.
EPG meeting
slated for June
in Kathmandu
KAMAL DEV BHATTARAI &
DEVENDRA BHATTARAI
NEW DELHI, MAY 28
The first joint meeting of
Eminent Persons’ Group
(EPG), a bilateral committee
formed to review the agreements and treaties between
Nepal and India including the
Peace and Friendship Treaty
of 1950, will take place in the
last week of June.
The Indian side has proposed to hold the meeting on
June 26-27 in Kathmandu.
Bhagat Singh Koshiyari, an
EPG member from the Indian
side, confirmed the decision.
An Indian official said that
New Delhi was ready to discuss any issue that the Nepali
side presents in the meeting.
The meeting is scheduled at
a time when Nepal-India relations have soured due to the
abrupt
cancellation
of
President
Bidhya
Devi
Bhandari’s visit to India in
early May. The meeting will
help build trust between the
two sides, said officials.
Both Nepal and India have
formed their respective teams
and finalised the secretariats
and focal persons. The teams
have already begun internal
works of reviewing the past
conventions and treaties.
Earlier, the meeting was
delayed due to the lack of
technical preparations from
the Indian side, mainly about
its secretariat.
Nepal’s Deputy Prime
Minister and Foreign Minister
Kamal Thapa had written to
his Indian counterpart to
co-chair the first meeting of
the joint group in Kathmandu.
But in early May Nepali officials told the Post that New
Delhi had not responded to
the proposal.
The team is tasked with
reviewing all the bilateral
agreements and making specific suggestions to both the
countries. Nepal has been consistently pushing for a review
of the Peace and Friendship
Treaty of 1950, describing it
as “unequal”. India, in return,
had asked Nepal to come up
with a concrete proposal to
amend or replace the treaty.
A Nepali member of the
EPG said that they want to
come out of the framework of
Nepal-India relationship set
five decades ago. “In the
changed context, we want to
build relations with India in a
new way,” said the member.
Some observers in India,
however, question the relevance of the group. They view
it as a strategy to postpone
problems instead of resolving
them. They argue that Nepal
and India should hold direct
talks to mend the relations.
The decision to form the
group was made during the
India visit by then prime minister Baburam Bhattarai in
2011. During the late Sushil
Koirala’s premiership in 2014,
the terms of reference of the
EPG were agreed. The incumbent KP Sharma Oli-led government formed the group,
which was reciprocated by the
Indian government.
dissent on display
Participants of a protest rally organised by the Madhesi-Janajati alliance in New Road, Kathmandu,
on Saturday. POST PHOTO: DIPEN SHRESTHA
n
NEWS DIGEST
Three held with
tiger hide
DANG: Police arrested
three persons with tiger
hide from Narayanpur in
the district on Friday
night. Min Bahadur
Chaudhary, Somnath
Chaudhary and
Mahendra Chaudhary of
Saudiyar-9 were caught,
said police. Preliminary
investigation showed the
trio had brought the
tiger hide from Salyan
district. (PR)
Aftershock felt
KATHMANDU: A magnitude 4.6 aftershock jolted
Sindhupalchok and its
neighbouring districts
on Saturday afternoon.
The tremor was felt in
Kathmandu as well.
According to the
National Seismological
Centre, the aftershock of
the April 25, 2015 earthquake was recorded at
3:24pm with its epicentre
in Sindhupalchok. (PR)
Gathabandhan
boycotts budget
POST REPORT
KATHMANDU, MAY 28
Madhesi and Janajati parties
affiliated to the Federal
Alliance
(Sanghiya
Gathabandhan)
boycotted
Saturday’s budget session as
part of their ongoing protest
against the government and
new constitution.
More than three dozen parliamentarians representing
Madhesi and Janajati constituencies walked out of
Parliament
just
before
Poudel presented the budget
for the fiscal year 2073/74.
Disgruntled leaders chanted
slogans against the government, accusing it of neglecting the concerns of marginalised communities.
Ashok Rai, senior leader of
the Sanghiya Samajbadi
Forum Nepal, said the parties
decided to boycott Parliament
as part of the continuing protest against government apathy towards finding a solution
to the Tarai crisis.
“It appears to be the mother
of all populist budgets
unveiled by the post-1990 governments. It cannot be implemented when the country’s
economy is not doing well,”
said Rai. He said that the government should resolve the
Madhes crisis first if the government really intends to
implement the budget.
announced that martyr status
will be given to those who died
during the Madhes movement. Compensation will be
provided to the families of the
deceased protesters, the government announced. Madhesi
parties, who had long been
demanding the government
to fulfil the non-political
demands, described it as positive move.
WHO rejects call for Olympics
to be moved due to Zika
REUTERS
LONDON, MAY 28
The
World
Health
Organization (WHO) on
Saturday rejected a call for the
Rio Olympic Games to be
moved or postponed due to the
threat posed by large outbreak
of Zika virus in Brazil.
Responding to a call from
more than 100 leading scientists, who said it would be
unethical for the Games to go
ahead as scheduled, the
United Nations health agency
said having the Games in Rio
as planned would “not significantly alter” the spread of
Zika, which is linked to serious birth defects.
“Based on the current
assessment of Zika virus circulating in almost 60 countries globally and 39 in the
Americas, there is no public
health justification for postponing or cancelling the
games,” the WHO said in a
statement. In an public letter
posted online on Friday,
around 150 leading public
health experts, many of them
bioethicists, said the risk of
infection from the Zika virus
is too high for the Games to go
ahead safely.
The letter was sent to
Margaret Chan, the WHO’s
director-general, and said that
the Games, due to be held in
Rio de Janeiro in August,
should be moved to another
location or delayed. “An
unnecessary risk is posed
when 500,000 foreign tourists
from all countries attend the
Games,” the letter said.
C M Y K
news
NEWS DIGEST
NSU’s general
convention likely
by mid-July
Hunting reserve falls prey to encroachment
KATHMANDU: The 11th
general convention of
the Nepal Student Union
(NSU), the student wing
of the Nepali Congress
(NC), is likely to be held
by mid-July. The NSU’s
general convention has
not been held for the past
eight years due to various reasons. NSU
Spokesperson UP
Lamichhane said
preparations were
underway to propose
the convention date at
the NSU’s central
committee meeting
on June 7. (RSS)
Man hacked
to death
GULARIYA: Ananta Ram
Tharu, 33, was hacked to
death near his house at
Kalika-4 in Bardiya district on Friday night.
According to Inspector
Haridas Shrestha, a
group of unidentified
persons assaulted the
victim with sharp
weapons. (PR)
WEATHER WATCH
FORECAST: Generally cloudy throughout
the country. Temporary rain or thundershowers likely to occur at some places
PLACES
MAX MIN RAINFALL
TEMP (0C) TEMP (0C)(MM)
Dadeldhura26.2 14.1 0.0
Dipayal 35.219.66.2
Dhangadi 35.026.90.0
Birendranagar33.9 20.0 2.1
Nepalgunj 33.524.80.0
Jumla 22.30.07.5
Dang 30.721.55.0
Pokhara 23.820.65.4
Bhairahawa31.2 24.5 12.0
Simara 33.524.41.3
Kathmandu26.4 18.0 1.5
Okhaldhunga24.0 15.8 0.2
Taplejung 24.5 16.0Traces
Dhankuta 26.819.00.0
Biratnagar32.223.30.0
Jomsom 19.510.22.5
Dharan 31.5 23.0Traces
Source: Meteorological forecasting Division, Department of
Hydrology and Meteorology, Kathmandu
n
The Dhorpatan Hunting Reserve area, the only such facility in the country (left) and a human settlement near the hunting reserve. Locals living around the hunting reserve are encroaching upon the reserve’s land.
LAL PRASAD SHARMA
BAGLUNG, MAY 28
Dhorpatan Hunting Reserve,
which is spread over 250 hectares across Baglung, Myagdi
and Rukum districts, has been
gradually losing large swathes
of its land to encroachment
for the past several years.
According to Dhorpatan
Hunting Reserve, till 2012,
around 175 hectares of
reserve’s land had been
encroached while in Myagdi
and Rukum, 60 hectares and
16 hectares of was encroached
respectively.
The Reserve has not kept
records of encroachment
since 2012, but officials say
encroachment has been rife
these days.
Tulasiram Subedi, senior
Encroachment on Dhorpatan Hunting Reserve was at its
peak during the Maoist insurgency, but even now the
trend has continued, say officials
game scout, said locals have
indiscriminately encroached
upon the reserve land. “We
have not been able to anything
despite knowing that there
has been encroachment,” said
Subedi. According to the
Reserve, excessive encroachment can be seen in
Nisheldhor,
Taksera,
Dhorpatan and Gurjaghat
areas.
Chief Conservation Officer
Ananath Baral said people
excessively encroached upon
reserve land during the
Maoist insurgency.
The then Maoist rebels had
established “a military training centre” in the Reserve,
said Baral.
There are around 3,000
houses near the reserve area.
“Those who are encroach-
ing upon the Reserve land are
not landless people, they are
locals with strong political
affiliation,” said Subedi.
Yam Bahadur Kayat, headmaster of Bobang Secondary
School, said “well-connected
people” are involved in
encroaching
upon
the
Reserve’s land.
“We have limited human
resources to check such activ-
POST PHOTO: LAL PRASAD SHARMA
ities,” said Kayat.
Besides encroachment, illegal hunting and smuggling of
animal body parts are other
challenges the Reserve staff
are facing. Most of the households living around the
Reserve possess home-made
weapons, according to Reserve
officials who said locals are
also involved in killing animals in the reserve area.
Floods disconnect villages Injured in rhino attack, elderly
POST REPORT
GORKHA, MAY 28
Seven villages have been cut
off from the district headquarters after the floods of
Budhigandaki river swept
away a wooden bridge at
Yarubagar in Gorkha district
a week ago.
The wooden bridge at
Manaslu foot trail has been
the only pathway connecting
the VDCs with the district
headquarters. People in the
area have been left in lurch
after the floods washed away
the bridge, according to Chief
of Manaslu Area Conservation
Project Bishnusingh Thakuri.
“Currently, people cannot
travel through the foot trail,”
said Thakuri, adding that
three wooden bridges had
been
built
to
connect
Sirdibash and Kerauja VDCs
at Yarubagar after the devastating earthquake last year.
Villagers and tourists are
having difficulties travelling
from Yarubagar. They are
using an alternative route to
pass the area. “We are walking through the forest area
now,” said Dhan Bahadur
Gurung of Machchhikhola,
explaining that they were
compelled to take risk while
traveling from Uhiya to
Sirdibash. According to villagers, they need to travel via
helicopters or walk through
the hilly area taking risk as
mules cannot walk through
the forest area.
Likewise, the rough road
that connects Barpak, the epicentre of the earthquake on
April 25, 2015, with Gorkha
headquarters also has been
obstructed due to the incessant rainfall for the past few
days. Local Jit Bahadur Ghale
said rains have damaged road
at Rangrung area. “The road
is muddy and slippery now,”
he said.
couple facing tough times
SHIVA PURI
BHARATPUR, MAY 28
An elderly couple, who sustained serious injuries in a
rhino attack at Madi, has been
languishing at Bharatpur
Hospital for the past one week.
The victims’ relatives said
they were facing a tough time
arranging money for their
treatment.
Randana Adhikari, 60, from
Madi Municipality-12 is kept
at the Intensive Care Unit
while her 70-year-old husband
Indra Bahadur is at the
surgical ward.
Their treatment has been
affected due to financial
problems.
“We don’t have money for
the treatment of our parents,”
The kin of the injured say
neither the park authorities
nor other organisations
have come forward to help
said Tikaram Adhikari, son
of the victims. “We have
already spent Rs 150,000.”
A rhino from the Chitwan
National Park (CNP) had
attacked the victims while
they were working in a field
on May 22.
Both of them were seriously injured with wounds on
chest and hand.
“Neither the park authorities nor other organisations
have come forward to support
us,” said Tikaram.
Jitendra Bhandari, chairman of
Madi-Bharatpur
Samparka Manch, said the
authorities concerned have
failed to pay attention to the
plight of the Adhikari couple.
“Local administration should
have helped them out,” said
Bhandari.
Soon after the incident, the
Ayodhyapuri
Forest
Consumers’ Committee had
recommended that the CNP
provide the injured with
relief and treatment expenses. But the impoverished
Adhikari family is yet to
receive any kind of help.
As per the existing legal
provision, the government
provides Rs 500,000 to the family if an individual is killed in
wildlife attack, while Rs
100,000 is provided to the family if anyone is injured in
such attacks.
Narendra Aryal, assistant
conservation officer at the
CNP, said the park “immediately provides relief as per the
recommendation of the local
forest consumers’ committee”. “The consumers’ committee has not made any recommendation,” he claimed.
Locals of Madi area often
bear the brunt of wild animal
attacks.
Rhinos, elephants and
tigers often enter human settlement and attack people and
destroy crops. Three persons
have died and two were
injured in separate attacks of
rhino in Chitwan in the past
two weeks.
Entire settlement relocated
after drinking water crisis
n
A human settlement that was relocated to Namsung from Samjung after water resources dried up in Mustang. RASTRIYA SAMACHAR SAMITI
POKHARA, MAY 28
Locals of Mustang are a worried lot, as they are reeling
under acute water crisis due
to prolonged spell of drought.
While they are struggling
to manage drinking water,
they are wary of low production of wheat and apple
among other staple crops.
The lack of rain for such a
long time is going to severely
affect agriculture production, said Jhango Sango
Gurung, 69, of Tangbe village of Chusang VDC.
“There has been no rain in
Mustang for the last eightnine months,” she said, adding:”Due to absence of rain,
drinking water sources also
Water resources have dried up due to prolonged
drought and low snowfall in the region
have started to dry up.”
A single staple crop is
planted in this high altitude
Himalayan region in a year.
The production of the crop
has dwindled due to lack of
rainfall.
The upper Mustang area
sees a lot of snowfall every
year, but this year it has been
low, locals say. Upper
Mustang’s six VDCs namely
Lomanthang,
Chonup,
Chosera, Surkhang, Charang
and Dhami have seen less
snowfall than the previous
year. A settlement in
Samjung at Chosera VDC-9
has moved to another VDC in
search of water. Social worker and CPN-UML Mustang
Secretary Dev Gurung said
the entire settlement had to
be relocated after the drinking water source dried up
due to low snowfall.
Mustang’s former King
Jigme Parwal Bista has
provided the land for relocating the settlement, said
Topke Gurung. “Around
10 to 12 years ago Samjung
was the main source of
water,” he said. “With less
snowfall, water sources have
drying up.”
PHOTO: RSS
As many as 18 households
of Samjung village have
shifted to Namsung village,
which lies at a distance of
three hours walk.
The locals who earn a living by grazing mountain
goats and cows are now unable to find green pastures for
their cattle, said Karma
Gurung said.
Rajaram Dhakal, chief of
Western Regional Weather
Office, Pokhara, blamed
the climate change for less
snowfall.
“Manang and Mustang are
such places where rainfall
has always been low,” Dhakal
said. “But due to climate
change the rainfall has been
lower as compared to past
years,” he added.
C M Y K
world
kathmandu post
the
PG 05 | Sunday,May29,2016
‘China should invest more in elderly’
China should increase investment in care for the elderly, President Xi Jinping told a meeting of the country’s
top leaders on its ageing population. For the first time
in decades China’s working age population fell in
2012 and the world’s most populous nation
could be the first country in the world to get
old before it gets rich.
WW2 plane crashes into river
Pak PM to undergo heart surgery
A vintage World War Two aircraft has crashed
in the Hudson River between New York and
New Jersey. The plane—a single-seater P-47
Thunderbolt—went down two miles (3.2km)
south of George Washington Bridge. Divers
later recovered a body—believed to be that of
the pilot—from the submerged plane.
Pakistani Prime Minister Nawaz Sharif will undergo open heart surgery in London on Tuesday,
his family and office said, in what will be his
second cardiac operation in five years.
Sharif’s daughter Maryam Nawaz Sharif
said the surgery would be for “perforation
of the heart”.
50,000 Iraqis ‘trapped’ in Fallujah
sydney light fest
Agencies
BAGHDAD, May 28
n A paint-splatter design is projected onto the sails of the Sydney Opera House during the opening
night of the annual Vivid Sydney light festival in Sydney, Australia. The festival opened on Friday with
over 150 artists from 23 countries coming together to create the light show in more than 90 light
REUTERS
installations across the city. It runs until June 18.
Clashes erupt
in Trump rally
Reuters
SAN DIEGO, May 28
Donald Trump has brought
his message of walls and
deportations to the doorstep
of America’s busiest border
crossing as the presumptive
Republican presidential nominee greeted supporters in San
Diego, amid one of the largest
counter-protests organized
against him.
The scene inside the San
Diego Convention Center during Trump’s speech on Friday
was relatively placid, while
outside
demonstrators
opposed to his controversy-ridden White House bid
marched
and
chanted,
carrying signs criticizing
his rhetoric against illegal
immigration.
Waving US and Mexican
flags, more than 1,000 people
turned out for anti-trump
rallies in San Diego, a city on
the US-Mexico border whose
San Ysidro port of entry sees
nearly 300,000 people a day
cross legally between the
countries.
San Diego is considered a
binational city by many who
live and work on opposite
sides of the border, and about
a third of the city’s population
is Latino.
During Trump’s speech on
Friday, some protesters outside the convention center
scaled a barrier and lobbed
water bottles at police. One
man was pulled off the wall
and arrested as others were
surrounded by fellow protesters and backed away from the
confrontation.
After the convention center
emptied, clusters of Trump
supporters and anti-Trump
demonstrators began to mix
in the streets, many exchanging shouted epithets and some
throwing water bottles at one
another.
Police in riot gear declared
the gathering an unlawful
assembly and ordered the
crowd to disperse, herding the
crowd out of the city’s hotel
and restaurant-filled Gaslamp
Quarter.
San Diego police said
on Twitter that 35 arrests
were made during the protest.
No property damage or
injuries
were
reported,
police said.
Outrage in
Malaysia as
govt backs
Islamic law
More than 50,000 people were
trapped in Fallujah as an
offensive to push the Islamic
State of Iraq and the Levant
(ISIL) group from the Iraqi
city intensified.
Hundreds of people fled on
Friday as humanitarian conditions rapidly deteriorated
with Iraqi forces continuing
to surround the city, determined to flush out the ISIL
fighters inside.
The United Nations said
nearly 800 people had escaped
over the past week, but most
of those from the outskirts of
the city, where ISIL control
was weaker. “The situation
inside Fallujah is getting critical by the day,” Nasr Muflahi,
Norwegian
Refugee
the
Council’s Iraq director, said.
Iraqi military officials
insisted that safe corridors
assault on isil
n Iraq’s elite counter-terrorism forces arrive to join the forces
surrounding Fallujah, Iraq on Friday.
would be established to allow
civilians to flee, but residents
said ISIL checkpoints along
the city’s main roads have
made escape nearly impossible. “Our forces evacuated 460
people ... most of them women
AP
and
children,”
police
Lieutenant General Raed
Shakir Jawdat said.
Tens of thousands of Iraqi
forces—made up of military,
police and militias, and
backed by air power from a
US-led coalition—last week
launched an offensive to
retake the city.
Fallujah, along with Mosul,
is one of only two major Iraqi
cities still controlled by ISIL,
which is also known as ISIS. It
became in January 2014 the
first Iraqi city to be captured
by the group, six months
before
it
declared
its
caliphate.
General Saad Harbiya,
head of Fallujah operations
for the Iraqi army, said keeping civilians safe was a priority. “Our plans are humanitarian plans,” Harbiya said. “The
most important thing is to get
the civilians out unharmed.”
Baghdad-based US Colonel
Steve Warren said that over
the last four days, 20 strikes in
the city had destroyed ISIL
fighting positions and gun
emplacements. “We’ve killed
more than 70 enemy fighters,
including Maher al-Bilawi,
who is the commander of ISIL
forces in Fallujah,” Warren
said. “This, of course, won’t
completely cause the enemy to
stop fighting, but it’s a blow.
And it creates confusion and
it causes the second-in-command to have to move up. It
causes other leadership to
have to move around,” he
added.
Some in Fallujah, a predominantly Sunni city, were
reported to have welcomed the
takeover of the city by ISIL as
an alternative to what they
considered their marginalisation at the hands of Iraq’s
Shia-dominated government.
Locals, though, say conditions
there have deteriorated under
the group’s control.
Coalition officials estimated earlier this week that 500700 ISIL fighters remain in the
city, according to a US military estimate, hiding amongst
the civilian population.
Reuters
KUALA LUMPUR, May 28
Prime Minister Najib Razak’s
government threw its support
in parliament this week
behind an Islamic penal code
that includes amputations and
stoning, shocking some of his
allies and stoking fears of further strains in the multi-ethnic country.
Critics believe the scandal-tainted prime minister is
using ‘hudud’, the Islamic law,
to shore up the backing of
Muslim Malay voters and fend
off attacks on his leadership
ahead of critical by-elections
next month and a general election in 2018.
government
on
The
Thursday unexpectedly submitted to parliament a hudud
bill that had been proposed by
the Islamist group Parti Islam
se-Malaysia’s.
Although
debate on the law was deferred
to October by PAS leader
Abdul Hadi Awang, its submission to parliament brought
criticism from leaders across
the political spectrum, including allies of the ruling Barisan
Nasional coalition.
news digest
Iran has complied
with N-deal: UN
VIENNA: Iran has corrected one violation of its
landmark nuclear deal
with six world powers
and is honoring all other
major obligations, the
UN atomic energy agency reported on Friday.
The UN’s International
Atomic Energy Agency
is responsible for monitoring the agreement
Iran signed last year
with the United States,
Russia, China, Britain,
France and Germany
that reduces and limits
Tehran’s nuclear activities in exchange for sanctions relief. In February,
a month after the deal’s
implementation, the
agency noted that Iran
had produced heavy
water beyond its allotted
limit of 143.3 tons
(130 metric tons).
US forces mourn
for murdered
Japanese woman
TOKYO: The US military
on Saturday announced a
30-day period of mourning at its bases on the
southern Japanese
island of Okinawa,
where the killing of a
woman has reignited
resentment of the heavy
US military presence in
the region. A 32-year-old
American civilian working at a US military base
in Okinawa was arrested
this month for dumping
the body of the 20-yearold Japanese woman, a
procedural step in
murder cases. (Agencies)
C M Y K
free the words
Oli the dreamer
Something
is rotten
Excited and carried away by the flattery of his blind followers, Oli keeps generating fresh controversies
issues &
analysis
Jainendra Jeevan
jeevan1952@hotmail.com
O
li is a straightforward and outspoken person who loves to pass sarcastic remarks, especially about
his opponents….His sharp words
have bred more enemies than
friends…moreover, he makes public his stand on sensitive issues and
sticks to his position. Though his viewpoint may be correct, this stubbornness
either causes damage (to him) or creates
political deadlocks.” These were my
words in the article ‘Challenges for Oli’
in this daily back in 2014 when he had
just won the election for party president.
Now that he is the prime minister, the
same observation stands true. This
means he has learnt little during these
two years.
The other day, a group of college students were gossiping in a cafe when one
of them said—‘‘Yo Trump pani America
ko Oli nai rahechha hagi (Oh, this Trump
is the Oli of America). All laughed,
although the comparison has serious
overtones. The remarks made by both of
them spark controversies and protests,
which neither of them seems to mind.
Both disregard and dismiss criticism,
whether constructive or otherwise. But
Trump is different from Oli in the sense
that he speaks the voice of his constituency that includes the neo-conservatives
and isolationists of America. Oli lacks
such an objective or strategy.
Within reach
Though not always unmerited, Oli’s
remarks are mostly ill-timed, and thus
unwarranted. For example, he publicly
states, time and again, that he will never
allow the Tarai to be separated from the
hills while federalising the country. The
danger he is hinting at by saying so is, of
course, real and serious. But such a
statement, when made in public, fuels
discontent among the Madhesi communities and provides the Madhesi parties
new pretexts to agitate and decline dialogue. As the head of government, Oli is
supposed to be accommodative and flexible, at least in public and especially during a political transition that is full of
dangerous pitfalls.
As prime minister, Oli has made too
many impossible promises. For instance,
he promised that within two years, people will receive unlimited cooking gas
right in their kitchen though directly
connected pipelines. Being a standard
distribution practice in developed
nations, there is nothing funny
about it. But the ground reality
in Nepal is such that one has to
wait for months to get a cylinder of cooking gas, or buy it
in the black market if one
needs it earlier. Given this
backdrop and our resource
constraints and institutional
capacities, it will take decades
to initiate such an arrangement
even in the Capital.
Nepali people know that the
nation does not produce petro
products of any kind and that it has
to import them from or via India, a
country which time and again blockades or disrupts supplies for political
reasons. Therefore, instead of setting
new unattainable goals, Oli first should
have tried to resume existing arrangements and deal with black marketeering. Then, he could have worked out a
viable, long-term plan to minimise Nepal’s
dependence on petro products, explore its
local production and search for alternative sources of supply, like China.
Oli does seem to have some
vision, though not of a higher
intellectual order. The problem,
therefore, is not with his
vision and plans but with such plans
being announced casually
Dismal record
Oli’s imagination knows no bounds—
from extraction of petroleum deposits
(irrespective of their availability and
viability) to generation of 10,000 MW of
hydro power to export the surplus (to
China), all within two years. Certainly,
after their long suffering, Nepali people
now covet an optimistic, development-oriented and, if possible, visionary
leader, who can liberate them from poverty, under-development and misrule.
And, Oli does seem to have some vision,
though not of a higher intellectual order.
The problem, therefore, is not with his
vision and plans but with such plans
being announced casually—without
credible action plans. Instead of promising everything, he should have seriously
focused on, and acted upon, a few pressing issues and started preliminary
works on other important areas that
need to be reformed.
Oli’s track record as prime minister
has been dismal. Nepotism, cronyism
and partisanship are his known weaknesses. For months he could not appoint
a chief for the National Reconstruction
Authority, which only added to the plight
of the quake victims. And when he finally appointed one, he chose a party sym-
Political instability, agriculture in reverse
gear and corruption are Nepal’s hallmarks
NIRANJAN MANI DIXIT
T
pathiser with poor credentials for the job.
Had he picked a retired Chief Secretary
having enough integrity, ability and experience and no party affiliations, both the
people in general and the intellectual
classes would have faith in him.
More drawbacks
Besides Oli’s personal shortcomings,
several other factors also adversely
affect the health and life of his government. His party is not even the largest
party in a hung parliament. So to secure
a majority, he has formed an excessively
bloated government of unreliable
coalition partners, who may desert him
any time. An attempt to topple his government, from which he narrowly
survived, has already taken place. He is
the ultimate villain for the ever
agitating Madhesi parties, partly because
of his sharp tongue, which a small section
of people mistake for wit and wisdom.
And last but not least, the powerful
southern neighbour, often known as this
country’s kingmaker, is not happy with
him and is quietly working to get him
out of Singha Durbar.
Though people like me appreciated
him for not giving in to Delhi’s hegemony and interference, and for courageously strengthening ties with China, he is
not entirely without blame even on this
front. He cancelled the President’s visit
to India and recalled Nepal’s ambassador to Delhi who was doing a very good
job there, just because he was appointed
on the quota of the main opposition
party, the Nepali Congress. Such
impulse-driven and ego-charged decisions will backfire sooner or later.
Yes, his party men, especially those
who belong to his faction,
his
cronies,
s y c o phants, followers and
members of his inner
coteries have all praise
for his idiomatic expressions that have become
his trademark. He does
not seem to realise that
while the general people
dismiss those expressions
as twaddle, his opponents
are provoked by those
expressions. Excited and
carried away by the flattery
o f
his blind followers, every now and
then he keeps generating fresh controversies. Nonetheless, it is not the controversies but the aggravation of serious problems his observations cause
that is dangerous. If he wants to make
up for the loss before he leaves Baluwatar,
he has to watch his tongue and, of
course, walk the talk.
Harnessing people’s power
Nepal could have a National Volunteering Week to remind ourselves what citizens can do if they unite
SIMONE GALIMBERTI
I
t has been more than a year since
the quakes, still there is news of the
dire living conditions of the
quake-victims amid widespread criticism of the slow and ineffective
reconstruction process. Sadly, few
remember the role citizens played in
the immediate aftermath of the
quakes. Bankers, students, shopkeepers, professional development experts
and street vendors alike were spontaneously united and formed a wave of
solidarity, effectively bringing in vital
humanitarian relief in the most
quake-affected areas .
Volunteering their time and donating their private resources, citizens
from completely different walks of life
who probably would have never have
bumped into each other if it was not
for the relief operations showed the
power of the people—the most crucial,
though often neglected, element of
civil society. Still very little has been
done yet to harness the power of volunteerism in Nepal, a country with
one of the highest levels of social capital in the world. That is why we need
to redouble our efforts to celebrate,
recognise and incentivise the
change-makers of the country.
Potential of volunteerism
While working out the national development plan for the next decade with
the overarching goal of achieving the
Sustainable Development Goals, the
Nepal government should take into
account the potential of volunteers,
not simply as cheaper manpower but
as an asset whose abilities are not
properly understood yet.
The Office of the Prime
Minister and Council of
Ministers with the support of
the National Planning
Commission should start a national
debate on the role of volunteers in the
country and steer a new policy that
taps their potential. A draft policy of a
similar kind awaits the endorsement
of the Cabinet. Till recently, I was of
the opinion that an average, or even
bad, policy was better than no policy.
But as the document collects dust, I
have changed my mind and now I
believe that the country needs not just
a policy but a good one that does justice to the thousands of volunteers
who are active at the grassroots level.
If a mega endeavour like the ‘Save
Bagmati Campaign’ can succeed
thanks to strong political buy
in, why not replicate this fantastic blueprint at the local
level? If the then chief secretary made the difference
in launching and scaling up
the‘ Save Bagmati Campaign’,
why cannot a VDC secretary, in
coordination with local political
leaders and citizens, design their
own campaign to address a local
problem? Money is not an issue.
Not because it is not avail-
able locally, but because it often
becomes an excuse for not doing
things, while what actually counts is
just the commitment of people who
want to make a difference and are willing to take actions accordingly.
Actions or micro projects led by the
people with the support of local government, organisations and associations all united in a partnership for
change are conducted all around the
country. But these actions go unrecognised. If there are taken into consideration while formulating development plans, the government will
benefit. Thus, there is a need to
start a national dialogue on
the importance of volunteers
that would
lead to a new understanding of volunteerism, and consequently, to a revival
of civic action as a tool for development and social inclusion. The
National Development Volunteering
Service (NDVS), the leading national
volunteering programme of the
National Planning Commission,
should lead this debate with micro-level consultations across the country.
Way to remember
The recently established National
Youth Council should join the conversation and support local youth-led
organisations to involve other groups
with an equal stake in promoting open
and accessible volunteerism.
Volunteerism can be so inclusive that
multiple bodies like the Ministry of
Education, the Ministry of Youths and
Sports and the Ministry of Women
Children and Social Affairs should all
be involved while formulating policy
on it. Most importantly, individuals—
the backbone of any volunteering
movement—should have an important
say in the policy. Moreover, marginalised and vulnerable groups like persons living with disabilities, widows,
senior and retired people should have
a special place in the national policy
on volunteerism.
Developed countries have a civic
infrastructure promoting volunteering
at local levels. They even have specifically designed ‘week’ or national days
to celebrate volunteerism. For example, the US celebrated its National
Volunteer Week last month between
April 10 and 16 where special programmes and events focused on volunteerism were held. Over the summer, a
National Volunteering Conference will
bring the best minds of the country
together to discuss ways to harness the
energy of volunteers.
Nepal has nothing of this sort. It
should consider holding a National
Volunteering Week till it formulates a
national policy on volunteering. In the
first week of this kind, we could reflect
on people’s efforts during the quake.
This could be the best way to remind
ourselves what citizens can do if they
stand united to face common challenges plaguing the country.
Galimberti is the co-founder of
ENGAGE and editor of Sharing4Good
here have been seven coalition
governments since 2008 after
Nepal became a republic.
Envious and intolerant party
leaders have perpetuated political instability and underdevelopment, making the country and people long-suffering victims. In the
25 years since 1990 when multiparty democracy was reinstated in
Nepal, there have been a procession of 22 prime ministers. The
Nepali Congress (NC), CPN-UML
and UCPN (Maoist) have headed
the government 10, four and two
times respectively. Among the
record holders, Girija Prasad
Koirala has served five terms as
prime minister and Sher Bahadur
Deuba three terms. Ram Sharan
Mahat has been the finance minister seven times.
Lucrative job
As many as 10 prime ministers
have attained the highest goal of
securing lifelong luxurious retirement facilities from the poverty-stricken state costing the Nepali
taxpayer more than Rs3 billion
annually. Five Speakers of
Parliament and 15 judges also
belong to this exclusive
club. The Nepali people
are not getting value
for money comparing
the output with the salaries and benefits being
paid
to
lawmakers,
bureaucrats, planners and
technocrats.
Currently,
seven percent of the total
national revenue is consumed
by the 221,984 pensioners.
The political instability and
anomalies are also a product of
the burgeoning number of
political parties that have
created a Kathmanducentric political industry.
The industry has also
become a huge employment centre. Its influence on the bureaucracy and trade and commerce has
been pervasive, aggravating political and economic implications and
anomalies which ultimately cost
the country and people. In contrast, 40 percent of the total arable
land in Nepal has lain fallow for
the last 10 years while billions are
spent on importing food grain,
vegetables, fruits and animal protein annually. Only a decade ago,
Nepal was a net exporter of food
grain! The economy relies on manpower export to stay afloat. An
estimated 1,500 economically
active youths are leaving the country daily for the Gulf and other
overseas destinations for employment. Society is becoming increasingly consumptive. Relocation is
also rampant. The population of the
Kathmandu Valley has exploded
threefold to approximately four million in 10 years.
Paradoxically, cash-poor Nepal
has not been able to spend the
grants given by friendly countries.
The Rs14.5 billion offered by
Chinese President Xi Jinping during the then president Ram Baran
Yadav’s visit to China in March
2015 to develop highways, the $4.6
billion pledged by the international community in June 2015 for
earthquake reconstruction, and
the $1 billion grant pledged by
Indian Prime Minister Narendra
Modi for power projects in August
2014 remain unspent. The
Melamchi Drinking Water Supply
Project, which is of vital importance to Kathmandu, was started
in 2001 but is still incomplete.
There are hundreds of such
incomplete infrastructure projects
including the Kathmandu-Nijgadh
75-km-long Fast Track Road. The
cost and time overruns on these
projects have made Nepal
even poorer.
Capital expenditure in the first
nine months of the current fiscal
year has been recorded at only 20
percent, and an estimated 70 percent of it is gobbled up by the
Kathmandu Valley at the cost of
needy districts thus widening disparities. Obviously, time has been
wasted in political and social engineering and power games. The 13
periodic national plans implemented so far have been able to
secure only dismal progress which
can be counted on the fingers.
Reflecting on the past national
budget plans, the coalition governments have only delivered overambitious targets for their politicking and prolonging their stay in
power. They seem to be Jack-of-alltrades, but master of none in
terms of lack of skills and commitment to time- and cost-bound
implementation. Whatever little
development has taken place has
been a spontaneous process or the
result of the initiatives of the
private sector.
Rule of law
Institutionalising the rule of law
and good governance and taking
stern measures against irregularities, pending court cases, impunity, corruption and black marketeering and cartelling leading to
acute shortages and hyper inflation have not happened. Nepal has
Ten prime ministers
have attained the highest goal
of securing lifelong luxurious
retirement facilities from the
poverty-stricken state
costing the Nepali taxpayer
more than Rs3 billion annually
been placed in the 130th position
in the graft perceptions index of
Transparency
International
released last January, a sign of the
widespread bribery and lack of
punishment for corruption. A
total of 22,860 public office bearers
including politicians did not submit their property details in fiscal
2014-15 in violation of Prevention
of Corruption Act 2002. Moreover,
the country is still without elected
local governments.
The country has become a federal democratic republic, and a new
constitution has been promulgated. The manifestoes of all the
political parties are almost identical. The common goal is to develop
Nepal and provide a better quality
of life to the Nepali people.
Therefore, likeminded political
parties can be merged to have
around three parties in total.
Nepali voters should have allowed
one party to secure a majority in
the election so that it could serve a
full term and prevent political
instability. Political leaders should
have a positive attitude and competence, and they should be made
accountable.
Dixit is a grants business and
development professional
C M Y K
07 thekathmandu post
Editor
WATER, NOT SHIPS
which will be cheaper to rent or
hire. Fine roads with traffic lights
in Kathmandu are important, not
the railways. As for fuel, by the
time we exploit our own oil fields
in two or 200 years, the means of
transportation that run on fossil
fuel will become obsolete. Instead
of looking for oil, it will be better
for the government to start planning on replacing traditional cars
with battery ones within a certain
time frame.
Today, Nepal needs water, cooking gas, fertilisers, cheap agriculture labour, easy interest loans,
affordable food, drinks, home,
health and educational services,
extensive public transportation—
not ships. Oli must concentrate on
these rather than ships and railroads. I would not even worry
about electricity or fuel—we are
not an affluent country to enjoy
unlimited amount of electricity
or fuel. We need to cut our coat
according to our cloth. Oli will
earn more respect from people if
he can expedite the Melamchi project and bring down the overall
cost of living in the Himalayan
paradise. Expeditious completion
of Melamchi can earn him
respect.
Manohar Shrestha, via email
Bringing out accounts of the human aspects of the 200-year-relationship would be a good tribute to history
Words
& echoes
abhi subedi
A
couple of weeks ago, the British
ambassador Richard Morris invited to the British embassy a small
group of Nepali scholars who had
studied in Britain and those who
had various exposure to the country. We informally discussed various
aspects of the relationship between the
two countries. The ambassador’s focus
was on making the best of the training
we have had in Britain for the good of
Nepal. That subject is as wide as the
Mahabharata because the movements
of people between the two countries
have spanned over 200 years. Some sections of that history have come under
scanner, and some parts of it live in the
artistic and literary memories with
Shakespeare at the centre. I belong to
the later category of the dreamers. But
an article written by ambassador
Morris with Gail Marzetti in this daily
on May 20 puts stress on the UK-Nepal
development partnership. Interestingly,
that essay features the photo of a friend
of mine Mark Temple, son-in-law of a
Nepali British Gurkha family with a
history of several generations serving
in the British army. He worked in the
Lumle Agricultural Centre with another friend Roger Brown some 50 years
ago. Mark, though retired, still works
for Nepal in some ways.
People to people
My own texture of Nepal-Britain
humanism is created by friends like
Michael Hutt, professor of Nepali at
SOAS, University of London; John
Whelpton, now known as the expert on
Junga Bahadur; and Greta Rana, a
renowned writer long married into
what I guess is a little mysterious Rana
Discrimination, are obliged to
submit regular reports every two
years. That the government never
bothered to submit any report for
more than a decade demonstrates
its apathy towards the marginalised groups such as the Dalits and
the Madhesis who still face discrimination in the country. Worse,
the government has not even
bothered to implement the recommendations made by the CERD
back in 2004.
Racial discrimination very
much persists in Nepali society
and the government needs to take
the issue more seriously. Nepal
has signed many international
treaties. Subin Mulmi rightly says
in his article that ‘Nepal wants
aid from the international community, but not criticism of its
rights record’ (‘Nationalism vs
Human rights,’ May 24, Page
7). It is important for the government to abide by international
norms and practices if it does not
want to spoil its image further.
Diwakar Sharma,via email
———————
Kantipur Publications Pvt. Ltd.,
Kantipur Complex, Subidhanagar P. B. No. 8559,
Kathmandu; Nepal Phone: 5135000, Fax: 977-1-5135057,
e-mail: kpost@kmg.com.np
write to us
We value your
words. Send us your
articles, opinions
and letters for the
op-ed pages
(pages 6 and 7) to
tkpoped@kmg.com.np
tkpoped@gmail.com
n
Among the first volunteers in Nepal were Mark Temple (second from left) and Roger Brown (second from right).
durbar to another friend Madhukar
Shumsher. I presume the spectres of the
Ranas do not haunt Greta anymore, but
she has kept her interest in those
spectres alive. I understand that from her
picture of the women in those
houses in her novels, and also from a
theatrical trail for a promenade leading
into the ghost house, which she had
drawn last year but was disrupted by
the earthquake.
But I did not let Greta stay clear of
the spectral zones. Long looking to find
the grave of the wife of the English poet
laureate John Betjeman who, as
informed to me by a British woman poet
back in 1979 in the UK, was resting at
the cemetery in the backyard of the
British embassy. Greta took me to see
the graveyard a few times. We could not
find the stone of what she says the
poet’s kanchi-swasni or the younger
wife, but we stumbled upon other historical graves. One of them is a big
grave of the two children of Hector
Oldfield, a British surgeon at the
Kathmandu Residency from 1850 to 1873
and a friend of Jung.
Nepalis and Britishers as humans
always make up my sense of history. I
have always been evoking that as a
teacher of English literature and a theatre person heavily influenced by
British theatre and dramaturgy.
However, we should also mention some
available records to try to make sense
of the long relationship between Nepal
and Britain, and as far as possible, the
human side of it.
I wrote a short letter to the editor of
Turn on, tune in
The Rising Nepal on May 21, 1974 to
praise an annotated bibliography of the
works on Nepal in the Kaiser Library
prepared by the duo, my good friends,
SB Thakur and Lindsay Friedman of
the Institute of Nepal and Asian
Studies, now CNAS. Lindsay, as part of
her rhythm to shuttle between Nepal
and Edinburgh, went to the UK in
February 2015 and died in March.
Thakur did several other documentations of library works before he retired.
My letter, especially my excitement at
the bibliography that helped me make
sense of the scholarship of the foreign
and native scholars, had a few interesting features. We are talking about the
collection of the late Kaiser Shumsher
JBR of the erstwhile Rana family that
ruled Nepal for 104 years.
On the Nepali side
The Nepali connection with Britain is
highlighted in the early and contemporary documents and history of Nepal.
The era of documentation changed
after Martin Chautari came into existence in 1991 as an informal discussion
group, and started publishing extended
bibliographies especially from 1997. I
would like to recall here Pratyoush
Onta’s book entitled Nepal Studies in
the
UK:
Conversations
with
Practitioners (2004). The 19 scholars
included in this book have contributed
to the promotion of Nepal-Britain
understanding at the level of scholarship. Not only that, these scholars
have looked at the other side of the
Nepali and British personas, especially
the minds of the people here and the
subtle structure of culture. Their works
have triggered debates too, but while
celebrating the 200th anniversary of
Nepal-Britain relations, diverse topics
are bound to come to the fore.
The other side, the Nepali side,
also should be brought into focus
here. Because of space constraints,
I would only like to allude to a
publication of the Centre for Nepal
Studies in the United Kingdom.
The book edited by Krishna P Adhikari
is entitled ‘Nepalis in the United
Kingdom: An Overview (2012)’.
I was very moved to read the history of
the very first Nepali man, a certain
Mutty Loll Sing (Moti Lal Sing),
“who was living in London when he met
and joined Janga Bahadur Rana during
his visit to England in 1850”. This
stranded man, who used to eke out a
living by sweeping the street outside
St Paul’s Cathedral in London, had
written a 17-page article, the ‘first
ever account of Nepalis in the UK’.
Adhikari gives a history of what Nepali
visitors, rulers and writers had to say
about Britain.
Some publications that talk about the
human side of the two hundred years of
Nepal-Britain relations would be the
best tribute to the people and history of
the two countries.
Speaking in tongues
The Sabido syntax of storytelling is bringing a
new wave in the radio drama scenario
GLOBAL NORMS
n It is perplexing to hear that
after 12 years Nepal submitted a
report on the status of the implementation of the rights to the
Committee on the Elimination of
Racial Discrimination (CERD)
(‘Nepal submits report to
CERD after 12 years,’ May 27,
Page 2). It has been reported that
all states, signatory to the
Convention on the Elimination of
All Forms of Racial
Nepal-Britain human relations
Letter to the
n Something that the ancient
Polynesians and Vikings did thousands of years ago cannot be farfetched in this day and age (‘No
laughing matter’, May 20, Page
6). People at large in the world
buy ships like Nepalis buy their
much-loved Hyundais and
Marutis. I have a Chinese
acquaintance who has private
ships sailing in not just Indian or
Pacific Oceans but elsewhere as
well. As for piped gas connections, there are some Nepali families that already have the convenience for years in their homes in
Dwarka and Noida in and adjoining Delhi. Easy availability of gas
is important, piped or not. Water
is more important, not a ship,
free the words
DEEPESH PAUDEL
R
adio is considered to be the most
widely accessible medium
among various mass media outlets. In Nepal, the pervasiveness
and affordability of radio has
been continuously noted for over six
decades. According to a study done
by Samarth-Nepal, 80 percent of the
people of Nepal consider radio to be
one of their prime media outlets.
Another research carried out by
Sharecast Initiative Nepal showed
that 35 percent of the respondents
tune in to the radio daily. Due
to such reach and effectiveness,
radio has become a commonly
sought media outlet for interested
stakeholders. Generally, the use of
radio involves activities targeted
towards awareness building, behavioural
change
and
public
entertainment.
Dramas for change
Radio dramas have been playing an
integral role in the promotion of
behavioural transformation, propagation of moral standards and
intervention in various social practices. The radio dramas broadcast
by different stations vary in content
and structure, depending on their
objective. Sathi Sanga Mann Kaa
Kura, Katha Mitho Sarangiko
and Gaun Gaun Ma Singha Durbar
are a few popular radio dramas
that have left a profound and
lasting imprint on the minds of their
audiences. Two new radio-based
soap operas have been recently
launched in Nepal. Developed collaboratively by Antenna Foundation
Nepal and Population Media Centre
(PMC), Mai Sari Sunaakhari (in
Nepali) and Hilkor (in Maithili) are
two radio dramas devised in a
new writing format which has
never been practiced before in Nepal’s
radio drama scenario. Based on the
thematic areas of child marriage and
education, nutrition, family planning, gender-based violence and gender equality, these serial dramas
attempt to showcase the reflections of
society in a naturalistic and appealing manner.
Sabido style
Coined by Mexican screenwriter
Miguel Sabido, the Sabido format
has been developed by assessing the
influential prowess of soap operas
and serial dramas. A carefully
woven serial drama encompassing
all quintessential elements can keep
a firm grip on the minds of the audience and draw reflections in their
behaviour. Understanding this
notion, the Sabido style enforces a
behaviour or character-driven storyline approach rather than a direct
message-driven approach. In this
format, the story’s characters and
the values that they inherit are
regarded substantially.
The primary characters are categorised as positive, negative and
transitional. For instance, in a child
marriage case, the negative character might hold on to a value related
to the acceptance of dowry. The
negative character, therefore,
should always remain adamant to
that specific value. Likewise, transitional characters go through various transformations while travelling through the story arch. The
action, consequences, rewards and
punishments guide the transitional
character towards a much clearer
and righteous path as the story
unfolds. The assumption is that the
transitional characters in the
drama are the ones who best represent our audience and their lives.
The negative and positive characters are inclined towards the
extremes and bear a kind of idealistic set of values.
Challenges in writing
First and foremost, making a play
reach an audience through a single
sense (hearing) is an uphill task for
every dramatist. To recreate an
action, emotion, expression, taste or
smell through an audio medium is a
challenge which can easily make or
break the momentum of the play.
Another pivotal point that a playwright needs to remember while
working in the Sabido model is the
time frame of the story and the
characters in it. To make the plot
plausible and effective, the
playwright needs to be given sufficient time for the characters to
evolve and events to unfold. Since
behavioural changes cannot be done
overnight, the decisions taken by
the characters and the results and
consequences should be placed as
checkpoints at various nodes of the
story arch.
Furthermore, the Sabido style
also demands pragmatism while
establishing a scene. It adheres to
the assumption that a microphone
is always fixated while recording a
scene. A particular scene can only
have a single atmosphere where
characters can come and leave; the
scene cannot move along with the
characters. Hence, the task of generating an interestingly dynamic
scene with all these confinements
can at times be tremendously tough
for the writers. Besides, the balances in terms of various elements like
the character’s state of mind, cliffhanging end to a scene, cross connections between independent stories and situational response of the
characters are crucial while proceeding with the story.
Pre-test and initial feedback sessions of both Mai Sari Sunkhari
and Hilkor received responses from
the audience claiming that the dramas were a bit confusing yet intriguing at the same time. The simultaneous flow of four independent stories
in a single radio drama is being practiced for the first time in Nepal. The
Sabido syntax of storytelling, regardless of the slight initial reluctance, is
undoubtedly bringing a new wave in
the radio drama scenario.
Paudel is associated
with Sarwanam Theatre as a
theatre artist and director
Although my native tongue is Nepal Bhasa, listening to
the news in it feels like listening to a foreign language
SUPRAL RAJ JOSHI
I
am in China at the moment, and when people here ask me if my mother tongue is
Nepali, I explain to them that it is in fact
Nepal Bhasa (Newari). However, I am far
from fluent in it, and my vocabulary is limited. I have never learned how to write in the
Ranjana script, and sometimes listening to
the news in Nepal Bhasa is almost like trying to comprehend a foreign language.
Perhaps I myself am to blame for my
incompetence. I know that I have not really
made an effort to learn the language from
my parents or my grandparents. But perhaps the unitary state model and the
Nepali education system are also blameworthy. The Nepali state has not really made it a
point for me to learn my mother tongue. In
school, I was not offered an option to learn
it. A few friends who spoke Nepal Bhasa at
home and spoke Nepali with an accent were
often ridiculed.
Problematic definition
When education was first made available to
the masses after the fall of the Rana regime,
it was exclusively in the Nepali language.
This meant that to gain access to knowledge,
people had to adopt a language which they
did not necessarily feel ownership of.
The trend of the course books being written mostly in Nepali and English continues
till date. Although a few government schools
do provide children with the option of learning their mother tongue and so books are
published in various languages of the country, only a very few children benefit from it.
Public schools follow the curricula in
Nepali, even in places where the majority of
children do not speak it as a first language.
In their book ‘Freakonomics’, Dubner and
Levitt argue—and provide empirical evidence for it—that children do well in school
when they are taught in the language their
parents speak at home. Maybe this is one of
the reasons why, despite having almost uni-
versal primary enrolment, dropout rates are
frighteningly high in Nepal.
Adopting the language of the ruling elite
was for decades the exclusive path to a better
future in Nepal. It still is to a large extent.
The bureaucracy in the country has been
functioning in Nepali since its inception,
and currently, in its composition, over 80
percent are speakers of Nepali as a first language and of Khas-Arya origin, a group that
comprises only about 30 percent of Nepal’s
population. I also find it quite absurd that a
certain multinational company operating in
Nepal makes its communication (print and
radio advertisements) available in languages
like Awadhi, Bhojpuri, Maithili and even
Nepal Bhasa, while the country’s constitution is hard to get in these languages. This is
rather hypocritical for a country that prides
itself in being multilingual. In Nepal’s modern history, the ability to speak what has
come to be known as the Nepali language
and a complexion that is a certain shade of
brown encompass the definition of being a
Nepali. That is a problematic definition.
Changing times
The country is in the process of being federalised and the promulgation of the new constitution should have marked a new beginning for Nepal, but I fear we are still far
from a new and better beginning. The challenge ahead for Nepal is to undo several historical wrongs without fuelling ethnocentrism and subsequent hate, which an ethnicity-based federalism is bound to do. A thorough understanding of and respect for the
true sentiments of the people is required.
For a state that has preached assimilation
throughout its modern history—with only
token amendments in the past decade—and
has derived most of its power from the politics of exclusion, overcoming this challenge
is of paramount importance if it wants to
create a Nepal that is mindful of and
respectful towards its multiple identities.
Doing so will require treading paths that
may seem uncomfortable to some, but these
paths will define Nepal for decades, if not
centuries, to come.
Joshi is pursuing a master’s in
International Relations and Diplomacy at
Tribhuvan University
C M Y K
et cetera
kathmandu post
the
PG 08 | SUNDAY,MAY29,2016
Homage to Jeff Hanneman
American thrash metal band Slayer lost their band
mate Jeff Hanemman two years back. To pay tribute to the late guitarist, Sangeet Pathshala, is
organising a gig at 2 pm on June 18 at Purple
Haze Rock Bar. Vomiting Snakes will be performing along with other bands. Pre sale ticket prices
are Rs 300 and door prices are Rs 500.
Student Entrepreneurship Conference
Fifa 16 tournament
Student Entrepreneurship Conference is a conference
which will cater practical information required before and
after starting an initiative, from the investment to the
finance and legal aspect for tech students. It is being held
on June 11 from 9 am to 5 pm at DECC, United World Trade
Center in Tripureshwor with an entry fee of Rs 1,000.
Students can register at www.stupreneurs.org
Star Mall is presenting a Fifa 16 Tournament
from June 8 to 11. The event is hosted by
NGamers Club Nepal and Tech101 at Star Mall,
Putalisadak, consisting of many TV and consoles for Xbox and Playstation 4, enough to
host 250 participants. The event will have live
music and food stalls. Entrance fee is Rs 200.
on art & architecture
Defining negative spaces:
A meditation on
femininity and form
Drawing is an increasingly rare form these days in
practice or in galleries. Strenuous mentally and
physically, with intense concentration required,
drawing is one of the finest of the fine arts because
of the finesse and the skill it requires
Sophia L
Pande
T
racing Absences, Brenna K
Murphy’s show at Image Ark
gallery, in the heart of Patan,
which consists mainly of pen
and ink drawings on handmade
Nepali lokta paper, is a rigorous,
thoughtful, original contemplation
of what fine art actually means, and
with the tracing of pieces of lace and
crochet work onto paper, a meditation on how the art world can sometimes reduce crafts such as stitching,
embroidery, knitting, lacework, and
crochet to just something that people,
mostly women, do in their free time;
an unfortunate relegation of an
entire category of exquisite efforts
that can take the same amount of
concentration, commitment, creativity, and skill that a fine drawing
requires.
By tracing the negative spaces of
lace and crochet work, Brenna
Murphy is symbolically outlining
and emphasising the countless,
nameless people who make this kind
of art, allowing the viewer to engage
at another level, albeit in a different
form, with otherwise mundane seeming objects which, however fine, can
blend into the larger household.
All of this may sound really needlessly complicated to the sceptical,
until you step back and try to recall
the name of a single artisan who
makes either jewellery, lace, repoussé
metalwork, or pottery that has
achieved the same level of fame as say
a painter like Matisse, MF Hussain, or
Manuj Babu Mishra (again, all men, all
primarily painters).
n Tracing Absence (#2). Pen and ink on Nepali lokta paper 3.5’ x 2.5’.
All of the aforementioned celebrated artists are picked fairly arbitrarily
out of a hat, and for effect, to make a
point: to underscore that often, the
delicate, meditative works by women,
made quietly within their homes are
categorically disregarded, falling
outside of the highly defined boundaries of fine art entirely.
Murphy’s art stems from a long
practice of quietly, carefully making
intricate work such as those in her
current show. North American by
birth and training, her pieces, made
over 15 months in Nepal, are not
overtly influenced by her surroundings, but it is hard to miss that the
majority of the works in this show
are made on lokta paper, ubiquitous
in Nepal after a revival in the last few
decades and now a staple for tourists
and Nepalis alike, but not necessarily
a medium that a fine draughtswoman
would default to for such delicate
drawings.
The nineteen pieces in the show
Impressions
Is beauty really
only skin deep?
Dixya Poudel
H
n Tracing Absence (Star). Pen and ink on Nepali
n Tracing Absence (Hair Drawing #1). Artist’s hair adhered to paper 9.5” x 16.75”.
e looked at himself in the mirror.
Pale brown skin, hollowed eyes
and gangly limbs. He had unruly
black hair and making up for a
mustache were sprouts of facial
hair, sparse and grey against his fair
complexion. He wasn’t particularly
handsome and he knew it. After
much hesitation, he finally shaved
off his so-called mustache. He was
not someone who was that conscious
of his looks; if it was not for the new
addition to his class—a tall, slender
being whose name sounded exotic
and he hadn’t quite grasped it yet. He
was too dazzled by her smile to
remember that exotic name. But, no
matter, sooner or later he would find
out. It was the senior year of high
school and there was a whole year
ahead of him. He was patient and
calculating but wished he had his
father’s good looks. He was smart
enough to realise he would have to go
to lengths to win this girl. The competition would be cruel and it is a tough
world. You get only what you earn.
His sister banged on the
bathroom door.
“You are a guy. How much time do
you need to spend in a bathroom,
unless you are trying to impress
someone?”Maya said, as if she had
just visited the insides of her brother’s mind. His sister could be so
annoying at times, and would at
times outwit her older brother.
“Fine, I am getting outta here,”
Ramesh said as he walked out of the
door, with a towel wrapped around
his thin torso.
He stood in front of the dresser. Up
next was the grooming—a habit he
had acquired fairly recently, courtesy
of this nameless beauty. He had
shaved his hair on the behind and
had let the front hair grow longer, as
was on vogue. His hair dresser had
promised he would look like Shahid
are
all
painstakingly
made
by Murphy as she sat with pieces
of lace and crochet work, drawing
the negative spaces between the
threads; each space is a signifier of
the invisible maker of the object
being traced.
Sometimes the chosen form and
the content are so separated from
each other that it doesn’t matter what
the maker intended, but in the case
of Murphy’s work, it only enriches
the viewer to know about the artistic
Kapoor, the Bollywood star. He stared
helplessly at the hair grooming products on the dresser. He had no idea
where to start. Oh, what the heck. He
took a blob of Garnier extra strong
gel and rubbed them across the palms
of his hands and applied it generously on his hair. No, it did not in any
way resemble Shahid’s perfect mane.
He gave up and turned towards his
facial pampering. He glanced at his
watch. He was getting late for class
and here he was preening like he was
going on a date. Get a grip, he told
himself. He quickly dabbed a Lotus
sunscreen across his face and he was
ready. He still had a few minutes to
spare; so, he sprayed the new limited
edition deodorant spray. Finally, he
took a while to access his efforts and
was just floundered at the result.
Still, he looked at his mirror and
tried to smile his best.
“Hi there, my name is Ramesh.
How are you doing at the
new school?”
“Ramesh, hurry up!” It was dad,
Maya and his ride to school. All
through the car drive, he kept jiggling his legs, wondering if he would
be able to strike a conversation with
the mysterious girl. Usually, he didn’t
judge according to looks but he
hadn’t seen anyone quite like her.
Dark brown hair, dark eyelashes,
almond shaped eyes and perfect pink
lips. And he hadn’t seen a complexion
so fair and flawless. He knew he needed to be rational but this was so difficult. His heart and mind seemed to
clash. His heart was set to win this
beauty but his mind was warning
him of possible fall out. He
knew from experience that most
beautiful people were narcissists. But
should he judge this girl by appearance? Could she be much more than
her beauty?
The car stopped right outside the
school. He stepped out and walked
towards the classes designated for
seniors and first up was English
Literature. He stopped, dazed. There
she was on the first row, arranging
her notebooks and pens. A studious
type? He wondered.
lokta paper 30” x 19.5”.
process, hence an accompanying
video of Murphy working, made by
gallery owner and filmmaker Marie
Ange Holmgren-Sylvain, accompanies the pieces on display. As Murphy
draws intently, so too can we imagine
the countless women bent over their
needles, concentrated on producing,
refining, untangling, re-stitching,
surveying their handwork, and finally finding (therapeutic) satisfaction
in the beautiful end product, even if
it ends as a doily, or placemat, or
whether, in this age, miraculously
makes it on to a gallery wall.
Murphy’s pieces range in size,
from the smaller mandala like
‘Tracing Absence (Star)’ which is
placed high on a 30 by 19.5 inch piece
of lokta paper, to the diptych ‘Tracing
Absence (#2)’ which is 3.5 by 5.25 feet.
The experience of seeing these drawings hanging on Image Ark’s walls is
very particular to the viewer. Even
after absorbing the information that
Murphy’s works are traced from lacework and crochet, sometimes also
incorporating her own hair as in
Tracing Absence (Hair Drawing #1),
yet another commentary on the
inherent feminine form of the absent
makers, it is possible to view these
pieces as purely expressionist
abstractions that can be appreciated
aside from their intended political
commentary.
Like with the works of the great
Agnes Martin (b.1912 –d.2004), one of
the few women was able to carve out
a niche for herself in the then male
dominated Abstract Expressionist
movement with her detailed drawings that seem to pulse with a life of
their own, Murphy’s works are vivid
and dynamic expressions that belie
the intense fine work they require.
One would not think that hours spent
pouring over a drawing, meticulously
tracing negative spaces would result
in such moving, whimsical pieces
(particularly with the hair) that can
either quiet the mind, eliciting a meditative scrutiny, or in the case of this
particular viewer’s imagination,
evoke aerial views of the very
squares and open spaces of Patan
where Murphy’s residency at the
Kathmandu Contemporary Arts
Centre (KCAC), inside the Patan
Museum grounds, began.
Murphy’s oeuvre is available to
peruse on her website and provides a
fuller picture of her concerns as an
artist, her detailed, meticulous working method, and perhaps most importantly, the importance she places on
the beautiful mundane. We can
choose to go through the world oblivious of that which surrounds us, or,
make the choice to look, and engage
with all that we take for granted, seeing the preciousness within the
minutia we bypass every day. For
artists, and for observers, that outlook, the practice of really seeing,
can help us define the many beauties
of our extraordinary world, making
the invisible visible.
Tracing Absences continues at
Image Ark Gallery, Patan till June 20.
Gallery hours: 10am-5pm, SundayFriday.
fiction park
aging is inevitable. This pact with the
devil just to be young seems absurd.
Age is just a number and beauty isn’t
just about appearance. Instead of
focusing your time and energy on
looks and obsessing about age and
looks, we can be doing some character building.”
That is when he realised, this girl
isn’t phony despite what they say
about beautiful people. The rest of
the class was a blur. He knew her
name, little bit of her background
(she had grown up in a countryside),
she liked literature and had opinions,
which were quite many. As he
observed her more and more, he realised she wasn’t quite like the stereotyped beautiful girls. The class was
over and it seemed they didn’t have
any other classes besides English
Literature together. All his other
classes passed by in a stupor.
Back in the seclusion in his room,
long after dinner and homework, he
laid down on his bed and looked up to
the ceiling and thought: is beauty
really only skin deep?
He got up and went towards his
dresser. He stood in front of the mirror and paused. He paused deep in
contemplation for a good long while.
He shot his hand up. That
he wasn’t much into literature
didn’t mean he would come
unprepared for the class. He
looked around. The only other
raised hand was the girl whose
name he didn’t know
Since she didn’t meet his gaze,
disappointed, he walked towards
the second row several desks
away from her.
The class was on an Oscar Wilde
novel—The Picture of Dorian Gray.
Personally, he preferred science to
literature but today he paid extra
attention as he was curious about
this girl. Maybe he would find out
what she was like. A beauty with
brains? The arty type? Or like himself a science whiz? The anticipation
to know this creature was building in
a scale he didn’t know was possible,
despite his internal warning.
Finally the teacher arrived. There
was silence and when he looked over,
the girl was poised with a notebook
and a pen.
“The
assignment
for
this
class is the classic The Picture of
Dorian Gray. Has anyone already
read the book?”
He shot his hand up. That he wasn’t
much into literature didn’t mean he
would come unprepared for the class.
He looked around. The only other
raised hand was the girl whose name
he didn’t know.
“Samantha, yes, tell us what you
thought of the book?”
Yes! He gave himself a silly grin,
having now known the name of the
exotic being. The day seemed to be
getting on to a great start.
“Well, ma’am, I didn’t like the
book. I mean why would anyone go to
lengths to protect their looks when
we know beauty is skin deep and
Directions:
Read the Following Carefully!
01: Stories should be original, and must
be balanced by i) Plot (beginning),
ii) Narrative (middle), iii) Dialogues,
and iv) Conclusion (proper ending)
02: Entries must carry at least 1,050
and not more than 1,500 words
03: Neat typing, correct spellings (UK
English) and proper cases are
essential in the texts
04: Submissions must include the writer’s full name, present status and
complete postal/contact/email
addresses
05: Entries must be sent to
tkpfictionpark@gmail.com
C M Y K
life&style
kathmandu post
the
PG 09 | Sunday,May29,2016
Hiddleston locked as Bond?
BORN TODAY
British actor Tom Hiddleston is reportedly in
“advanced talks” to replace Daniel Craig as the
next James Bond. According to a source,
Hiddleston “very much wants the job”; “while
talks have indeed taken place, and that Tom very
much wants the job (which he’s made no secret),
no official offer has been made yet.”
British musician Noel Gallagher is 49
British singer Melanie Brown is 41
Basketball player Carmelo Anthony is 32
German actor Elyas M’Barek is 34
British actor Gregg Sulkin is 24
Pitbull releases soccer anthem
Pitbull and Becky G have teamed up to give the
official anthem of the 100th anniversary of the
Copa America soccer tournament a Latin
flavour. Superstar, which was written by the
rapper, has been released a week before the
big event’s kick-off at Levi’s Stadium in Santa
Clara, California, reports a source.
Fulani released Exploring
a world of
interdependence
Khagendra
Lamichhane’s debut
collection of short
stories hit bookstores
from Saturday
POST REPORT
KATHMANDU, MAY 28
Nepali house-hold names go for A
the Guinness World Records
Post Report
Kathmandu, May 28
I
t’s no more a secret that global
warming is a real threat and that it
has already started to affect us in
more ways than one. With an aim to
generate awareness among the
public about the impacts of climate
change, the organisation Sustainable
Environmental and Ecosystem
Management (SEEM) Nepal is organising a campaign, titled Melancholy,
where environmentalist Nipesh
Dhaka has taken the initiative to
bring together a total of 364 Nepali
singers and musicians to croon to an
environment-themed song. The song
is also attempt to partake on The
Guinness World Record of Most
Vocal Solos in a Song Recording.
The song, recorded on May 24
at Radio Nepal Studio, Singha Durbar
in the Capital, features vocals of,
among others, National Poet
Madhav Prasad Ghimire along
with singers Meera Rana, Sangita
Rana, Shambhujeet Banskota, Dr
Bhola Rijal, Om Bikram Bista,
Captain Bijaya Lama, Nipesh Dhaka,
Rowling
set to
make you
cry, again
The 364 artists are divided into 27
individual groups, such as Earth,
Natural Resources, Agriculture,
Soil and Life, Watershed Area,
Human Rights, Forest Ecology,
and Education
Anand Karki, Shishir Yogi, BB
Anuragi, Komal Oli, Bima Kumari
Dura, Satya Raj Acharya, Swaroop
Raj Acharya, Rajesh Payal Rai, Nabin
Khadka, James Pradhan, Pashupati
Sharma, and five-year-old Nispal
Adhikari. The song is written, composed and directed by campaigner
Nipesh Dhaka.
The song takes us to 53 districts of
Nepal, ranging from the highlands of
Manang and Mugu to the lowlands of
Dhanusha, and tells us how different
the impacts of global warming are in
the lives of people.
The recording, which starts with
the voice of poet Ghimire and campaigner Dhaka, was inaugurated by
Prime Minister KP Sharma Oli. The
recording started from 8 am and continued until 6 pm. The 364 artists
were divided into 27 individual
groups, such as Earth, Natural
Resources, Agriculture, Soil and Life,
Watershed Area, Human Rights,
Forest Ecology, Education and so on.
“The goal of this song is to aware
people about the value of natural
resources and to prevent further
damage to the ecology, tourism, and
environment of our country and the
world. The aim of the song is to focus
on natural resource management
with the theme: ‘Raise your voice for
saving environment’,” says Dhaka.
Nepal has previously held other
Guinness World titles, such as the
Shortest Man in the World:
Khagendra Thapa Magar; Mt Everest
Youngest Successful Climber: Temba
Tsheri Sherpa; Most Conquests of Mt
Everest: Apa Sherpa; and Largest
Clear-Up on Everest: Nepali Eco
Everest Expeditions; among others.
This campaign, aiming to bag
another Guinness World Records title
home and to spread awareness, was
organised by SEEM and managed by
Ideas & Solutions Pvt Ltd.
fter plying his trade as an actor,
director, and script writer,
Khagendra Lamichhane has now
emerged with a new avatar—a
short story writer. Lamichhane’s
recent book, an anthology of short
stories titled Fulani, was released amid
a ceremony held at Nepal Academy
Hall, in the Capital, on Saturday. The
book was launched jointly by journalist Narayan Wagle and author
Lamichhane. Fulani has been published by Bookhill publications.
The anthology consists of seven stories, all of which, more or less, deal
with the absurdities that surface while
we go about living. Most of the stories,
set in rural Nepal, reflect the rustic life
invoking poverty and hardships its
characters undergo. The stories
reflect the socio-cultural, economic
and psychological status of people
from the period of the re-establishment of democracy in 1990 till date.
Lamichhane has already authored
two drama collections—Paniphoto
and Katha Natak—and also plies his
trade occasionally in the theatre and
movie industry. Lamichhane has
starred in a number of Nepali mov-
ies, but he is most known for the title
role he played in 2014’s Talakjung vs
Tulke. Last year’s Pashupati Prasad,
Lamichhane’s directorial debut, further pushed him into the limelight.
The event also saw a question-answer session with the author,
which was moderated by author
Narayan Wagle.
On being asked how he juggles his
time working for such diverse fields
as writing, acting, and directing,
Lamichhane said, “Because theater,
film, acting and writing are interconnected to each other, and are subjects
of interest to me, I think I make time
for them all effortlessly. It doesn’t feel
like a chore to me; I love doing what I
do.” He also shared his future project:
“For the next one year I will keep
myself busy writing film scripts.”
He also shared how he ended up
being a writer. “As a child, I was very
loquacious; and my seniors would
not let me to speak; ‘if I spoke I would
get thrashed,’ I was told; and hence, I
used to revolt by writing down what I
wanted to say,” Lamichhane said.
Speaking during the event, he also
shared his experiences about writing
stories: “I feel I have more liberty as
an artist when I write fiction. I can go
with the flow. But when it comes to
films and drama scripts, I feel, there
are more restrictions.”
Lamichhane also written scripts for
critically acclaimed feature films such
as Pashupati Prasad and Talakjung vs
Tulke and has directed and written the
play Dant ko Dob, which was staged at
the Theatre Village.
But what luck awaits the man of
many hats with the short story collection is yet to be witnessed.
hip hop takes on the world
BBC
London, May 28
W
e know it’s been nearly a decade since Harry Potter and the
Deathly Hallows was published, but we still remember
all the crying (RIP Snape).
So, if you’re still getting over
Dobby and Dumbledore, you might
not be ready for JK Rowling’s latest
update. The author, who has been
working on the upcoming theatre
production of Harry Potter and the
Cursed Child, has just guaranteed the
play will make you blub.
One fan tweeted Rowling, asking if
she should be prepared to cry.
Another Twitter user asked the valid
question: “Why are you like this?”
Fans who weren’t able to get tickets to the stage show will be able to
purchase the script in book-form
from 31 July. Harry Potter and the
Deathly Hallows ended 19 years after
the Battle of Hogwarts, as Harry
waved his two eldest children off to
wizardry school. The Cursed Child
will pick up from that moment, focusing on Harry as a stressed Ministry
of Magic civil servant and his middle
child Albus Severus, who is struggling under the pressure of the family legacy. The stage play will run into
2017, which marks the 20th anniversary of the UK publication of Harry
Potter And The Philosopher’s Stone.
n Participants take on the stage at the Hip Hop Nepal Championship 2016 held at Nepal Academy Hall in the Capital, on Saturday. The national championship will
select the best Nepali hip hop dance crews in 2016 that will then represent Nepal internationally. The competition was judged by international hip hop artists
Ian Levia, J DA and KI.
Post Photo: Dipen Shrestha
Post Report
Kathmandu, May 28
O
n May 28, a reading of acclaimed
author Manjushree Thapa’s
latest novel, All of Us in Our
Own Lives, was organised at
NexUs Café, in Bakhundole,
Lalitpur. The reading of excerpts
from the book was followed by a
discussion with the audience.
All of Us in Our Own Lives is the
story of an encounter between
strangers who shape each others’
lives in fateful ways, whether it be
directly or indirectly.
The novel pivots
around how internaThe novel pivots
tional aid is mobiaround how the
lised, and what influence it has on the
international aid
receiving parties; the
is mobilised, and
book also reflects on
events such as the
what influence it
earthquake of last
year. Eventually, the
has on the
narrative is about
receiving parties
how all global citizens are entwined
and connected to
each other and the unexpected ways
in which strangers come to relate to
one another.
Speaking during the event, author
Thapa said, “I really enjoyed
exploring the world of interdependence in Buddhism and applying the
concept in my book. Its funny how
four people who don’t know each
other at all can make such a big
impact in each others’ lives. Applying
this concept in Nepal, my friend
Pratyoush Onta said, ‘Nepal is like a
jerry’, and I agree.”
Discussion after the reading
revolved around the current scenario
of woman empowerment in Nepal.
The novel, which has been published by Aleph Book Company, was
launched at a ceremony held at Patan
Museum on May 25.
Domestic violence accusations
often leave permanent damage
Associated Press
Los Angeles, May 28
F
ans can be deeply forgiving, willing to look past their favourite
star’s terrible drug addiction,
ugly custody battle or ignorant
remarks. But accusations of
domestic violence often leave a lasting impression on a celebrity’s
image. Chris Brown may be winning
Grammys, but nobody’s forgotten
what happened with Rihanna.
Globally beloved Johnny Depp
will continue to be popular and
make millions as a movie star,
despite his wife’s allegations that he
was physically abusive throughout
their relationship. But he’ll have a
permanent edge now that no camera
lens can soften.
“Johnny Depp was very well-liked
by women and I think these accusations are going to stain him,” said
longtime Hollywood publicist Michael
Levine. “It’s very hard (to overcome),
even if the woman recants.”
Amber Heard, who cited irreconcilable differences when she filed for
divorce from Depp earlier this week,
appeared in a Los Angeles court
room Friday to request a restraining
order against her husband of 15
months. A judge ordered Depp to
stay away from Heard and not to
attempt contact with her before a
June 17 hearing.
Heard said in a sworn declaration
that Depp threw her cellphone at her
during a fight Saturday, striking her
cheek and eye. She submitted a picture of her bruised face when she
applied for a restraining order
Friday. She also wrote that the actor
pulled her hair, screamed at her and
repeatedly hit her and violently
grabbed her face.
Los Angeles Police responded to a
domestic violence call at the couple’s home on May 21, but the person
who made the call declined to file
charges and officers determined no
crime occurred.
Depp’s publicist did not respond
to a request for comment.
As with Brown, Mel
Gibson, and football star
Ray Rice, allegations of
domestic
violence
have staying power,
particularly when
there’s physical
evidence. Heard
said Depp was
drunk
and
high when
he allegedly assaulted her last
week and
on other
o c c a sions.
In the
court of public opinion, alcoholism and drug addiction
are much easier to forgive
than domestic violence, Levine
said, anticipating Depp will
soon make an image-saving
trip to rehab.
C M Y K
variety
thekathmandu post
10
TODAY’SHOROSCOPE
ARIES (March 21-April 19)
***
Someone you know fairly well is giving off a new vibe, and you
wouldn’t be out of bounds if you considered it romantic! If the
idea of taking this relationship into a new realm appeals to you,
then make sure you encourage the way things are going.
u
d
TAURUS (April 20-May 20)
***
Your confidence is at an all-time high right now, but don’t be too
righteous. People have long memories when it comes to people
who like to preach, and the last thing you want is for someone to
think that you think you know it all!
GEMINI (May 21-June 21)
**
Your ego may have been beaten up a bit lately, but it will
survive! Spending too much time nursing your wounds is
a mistake, now. So give it the first aid it needs and then get
moving.
CANCER (June 22-July 22)
***
When you’re making a list of all the good deeds that you’re going
to do today, be sure to toss in one or two selfish acts, too! Take
yourself to one of your favorite places or treat yourself to a
favorite food—the people in your life will heartily approve.
LEO (July 23-August 22)
****
Everyone makes mistakes, and today you are ready to forgive
someone who has wronged you. This magnanimous phase will
continue throughout the day, enabling you to stay calm if someone steals your parking spot.
VIRGO (August 23-September 22)
**
Today, if you are feeling stressed, turn to your imagination for a
lifeline. Just close your eyes, take a deep breath and pretend that
you are a leaf drifting along a quiet, lazy stream on a sunny day.
Relax and go with the flow—don’t worry about where you end up.
Friday’s Solution
s
o
k
u
c
r
o
WORD GAME
GRAFFITI
s
s
w
o
r
d
LIBRA (September 23-October 22)
**
Ever since your ex came back on the scene, your heart
has been in a state of confusion. You need to be careful
today, because your idealistic heart is starting to override your
logical brain.
SCORPIO (October 23-November 21)
**
If you find yourself in a dead end of sorts now, you got there
because you were led along by others. This is a powerful lesson—
you need to be in control of where you go in your life. Your preferences and goals, not others’ wishes, should dictate what you do.
SAGITTARIUS (November 22-December 21)
**
Going off on explorations is not wise today—save risky business
for a day when you really need a new experience to get your blood
pumping. Doing something new just for the sake of doing something new is a waste of your time, now.
CAPRICORN (December 22-January 19)
**
There is a big disconnect between what people are
saying and what they are doing today—there’s a bit of hypocrisy
going on, but it might not be in your best interest to make a big
deal about it.
DILBERT
RIPLEY’S BELIEVE IT OR NOT
AQUARIUS (January 20-February 18)
***
If you are working as a member of any groups today,
let caution be your guide. You are very community-oriented and
ready to collaborate with others, but that is not the case with
everyone.
PISCES (February 19-March 20)
***
The universe is about to unload some serious good
luck on you, but you won’t know you have it until it hits! So
instead of running right out and buying a thousand lottery
tickets, just wait.
L
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U
G
H
O
U
T
L
O
U
D
K
A
N
T
I
P
U
R
T
V
K
A
N
T
I
P
U
R
F
M
There are three friends named Mad, Brain, and Fight. One day
Fight went missing and his friends Mad and Brain started searching for him. Then Brain said, “Mad, let’s file a missing person
report with the police.” When they were about to walk into the
police station, Brain said, “Mad, you go and make the report. I will
wait for you here.” Mad said, “Okay.” Mad walked in but no police
officers paid attention to him. Then he saw a policeman drinking
a cup of coffee. Mad went to the officer, smacked the table, and
the cup of coffee flew in the air, landing in the officer’s lap. Angry,
the policeman asked, “Are you looking for a fight?” Mad replied,
“Yes, I am.” The policeman asked, “Are you mad?” Mad replied,
“Yes, I am Mad.” The policeman then asked, “Don’t you have a
brain?” Mad replied, “Brain is outside sir.”
5:00Bhaktisur/Amrit
Bani
6:00 Jeevan Bigyan/
Jyotish
6:40 Sky Shop
7:00Kantipur
Samachar
8:00 Kantipur News
8:30 Rise N Shine
9:00 Headline News
9:05 Marga Darshan
10:00Kantipur
Samachar
10:30 Market Updates
11:00 Headline News
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11:30 Ditha Sab
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2:30 Ukali Orali
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00:00 Non-stop Hindi
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02:00 Non-stop Nepali
pop/adhunik songs
04:00 Non-stop Bhajan
05:00 Bhakti Anusthan
06:30 Kantipur Diary
07:00 The Headliners
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08:05 Namaste Nepal
09:15 Traffic Update
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10:05 Wish You All the
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11:05 Aaaja ka Nari
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18:00 Opening Page
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GARFIELD
X-Men: Apocalypse 3D
F
QFX Civil Mall: 08:30/11:30/
15:00/18:15/19:30
QFX LABIM Mall: 11:45/15:00/18:15/19:30
QFX Kumari: 12:15/15:45/19:00
Phobia
I
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The Angry Birds
Movie
QFX Kumari: 16:30
QFX Civil Mall: 18:30
M
QFX LABIM Mall: 11:30/17:00
QFX Civil Mall: 11:45/17:00
S
The Angry Birds
Movie
Sarbjit
QFX LABIM Mall: 15:15
QFX Jai Nepal: 18:15
Homework
QFX Kumari: 19:30
QFX Kumari: 14:00
Pele: Birth of a
Legend
X-Men: Apocalypse
QFX Jai Nepal: 11:45/15:00
Alice Through The
Looking Glass 3D
Alice Through The
Looking Glass
QFX Kumari: 11:15
Savour the cardamom and saffron spice,
slow-cooked kebabs and kormas at Indian
restaurant serving Awadhi cuisine.
contact: 427399, at Soaltee Crowne Plaza
Mako’s offers traditional Japanese food
served. Don’t miss out on Mako’s special
Tempuras, and green tea ice cream, Time: 11:
30-14:30 & 19:00-22:00, contact: 4479448
We serve nothing but the finest Arabica
coffees at great value prices at Barista
Lavazza Coffee Restaurant, Lazimpat,
Contact: 4005123/4005124
Rosemary Kitchen and Coffee shop,
Thamel, opening hours: 7:00 am to 10:00
pm offers an International cuisine in reasonable prices. Contact 01-4267554
Krishnarpan—a specialty Nepali Restaurant
at Dwarika’s, 6 courses to 22 courses Nepali
meal served. Opening Time: 6 pm-11 pm. Prior
reservations required, contact: 4479448
China Garden offers delectable dishes from
across Asia, including Japanese, Korean,
Vietnamese and Chinese. Timings: Lunch:
1230-1445 hrs, Dinner: 1900-2245 hrs,
contact: 427399 at Soaltee Crowne Plaza
Manny’s Eatery and bar introduces a special lunch package that is affordable, tasty,
nutritious and quick enough to fit your lunch
break, Jawalakhel, Shaligram complex,
5536919
Bourbon Room, Lal Durbar Marg is open for
lunch from 12 noon. Enjoy affordable and delicious meals starting from Rs 99! We are currently offering Indian & chinese combos along
with momos. Call: 4441703
Out-of-Africa Lunch amid rural splendor:
Sat & Sun from 1130 to 1630 hours at The
Watering Hole, Indrawati River Valley.
For prior reservation contact: indrawatiresort@gmail.com
Enjoy snacks and drinks from 4:00 pm to
11:00 pm every day and nightly live music
from “The Corner Band” except Tuesday and
Saturday from 7 pm to 11:00 pm at Corner
Bar, Radisson Hotel. Contact: 4411818
Set within the historic Garden of Dreams, the
Kaiser Cafe Restaurant and Bar, Thamel, offers
a continental menu and serves as an atmospheric
venue for anything from a quiet coffee or intimate
meal. Contact: 442534
Jasmine Fitness Club and Spa, Fully
equipped gym and spa; Zumba, aerobics and
cardio classes; therapeutic massage; beauty
parlour and men’s salon. Tripureshwor;
Contact: 4117120
The Italian restaurant serves authentic
Italian cuisines in an elegant ambience for
both lunch and dinner. Timings: Lunch:
1230-1445 hrs, Dinner: 1900-2245 hrs,
Contact: 427399, at Soaltee Crowne Plaza
Garden Terrace offers an authentic world
cuisine, providing diners with the unique
experience of observing their selected dishes being prepared by chefs. Contact:
427399 at Soaltee Crowne Plaza
The Toran, an ideal location for all day lounging and informal dining offers multi-cuisines.
Contact: Dwarika’s Hotel, 4479488
Enjoy a Barbecue Buffet at the Radisson
Hotel, wide selection of mixed fresh grills and
vegetables together with a choice of salads and
a delicious dessert buffet at a rate of Rs. 1,350
plus taxes per person. Contact: 4411818
Tibetan Gyakok for Lunch & Dinner every
day at The Mandarin, The Everest Hotel ph:
4780100 ext: 7811
Every Friday BBQ from 7:00 pm at Fusion
Bar & Pool side at Dwarika’s Hotel with live
band “Dinesh Rai and Sound of Mind”. Price Rs
1600/ includes BBQ dinner and a can of beer
or a soft drink. Contact: 4479448
Trisara offers food and drinks along
with good music and great times. Sunday- Live
Music by Barbeque Night, Monday, Wednesdayby Positive vibes, Tuesday, Saturday-By Jyovan
Bhuju, Friday-Live Music by Dexterous
Ayurveda Health Home has been providing
ayurvedic treatments/ massages,
sirodhara & counseling for stress, detox &
rehabilitation. Dhapasi, Kathmandu:
01-4358761, Lakeside Pokhara 061-463205
Every Friday evening enjoy Starry Night
BBQ from 7 pm onwards at Shambala
Garden Café at Hotel Shangri La with live
musical performance by Ciney Gurung.
Contact: 4412999
Kaiser Cafe Restaurant & Bar at The
Garden of Dreams, opening time: 9 am till 9
pm, offers an international cafe menu serving breakfast, lunch, dinner, specialty tea’s,
coffees and pastries, contact: 4425341
Weekends brunch @ Hyatt Regency—treat
yourself with a lavish buffet lunch, splash by
the swimming pool or laze around outdoor,
Jacuzzi, all for just Rs 2300 plus taxes per
person. Contact: 4491234
Latin—Gypsy Jazz at The Corner Bar,
Radisson Hotel, Kathmandu with Hari
Maharjan feat Monsif Mzibiri, 7 pm onwards,
Wednesdays & Fridays. Contact: 4411818
Make your weekend more exciting with
family and friends with sumptuous Satey,
Dimsums, Mangolian Barbecue and Pasta at
The Cafe from 12:30 noon to 4:00 pm. Call:
Hyatt Regency, at 4491234
Hotel Narayani Complex, Pulchowk, Lalitpur
presents Shabnam & Cannabiz Band every
Wednesday and Rashmi & Kitcha Band every
Friday, 7:30 PM onwards @ Absolute bar P Ltd;
Contact: 5521408
Enjoy Bubbly Brunch every Saturday from 11
am to 3 pm at Shambala Gardena and Club
Sundhara. Contact: 4412999
Embers Bar, Pulchowk, in all its sophistication and glory is happy to announce
Happy Hours every 6-7pm. It will be
hosting a Barbeque night every Friday from
6:30-9:30pm
Special Saturday Brunch at The Café &
Garden, The Everest Hotel 1200-1600 hrs; Ph
4780100
Sandwich and Crepes: Taste the sandwiches and crepes at The Lounge from 11 am to 6
pm everyday. For further details call Hyatt
Regency at 4491234.
The most delightfully awesome chicken
momos & yummy rich chocolate cake on this
part of the planet @ Just Baked Bakery &
Cafe, Battisputali, offering much more specialties at affordable price.
Starry Night BBQ—every Friday Evening from
7:00 pm at Shambala Garden Café, Hotel,
Shangri~La only @ Rs 1799 net per person
and live performance by Ciney Gurung.
Contact: 4412999
Revolution Cafe, AmritMarg, Thamel, away
from busy crowed street, offers great
music, fast wi-fi and wide menu with reasonable prices. Operation hours: 7 am to 10
pm, contact: 4433630
Learn cardio, gym, aerobics, zumba, spa,
boxing, kick-boxing, b-boying, bollywood
dance at Oyster Spa and Fitness Club,
Sinamangal. Time: Sunday to Friday from 5
am to 8 pm. Contact: 4110554
Experience The Last Resort, the perfect
place for family fun adventure and relaxation.
Special packages for residents. Contact:
4700525/ 4701247 or mail us at
info@thelastresort.com.np
Asia World Travel Pvt Ltd presents fascinating luxury escapades to amazing destinations:
Prague, Ladakh, Bangkok, Singapore, Kuala
Lumpur, Mount Kailash and Panchpokhari in
North East Nepal. Contact: 6222604
Jungle Safari Lodge, Sauraha Chitwan
offers 2 Nights 3 Days package only for Rs
6500 per person. Suman 9851008399
Much needed getaway—1 night/2 day package
@ Hyatt Regency. Enjoy luxury stay of a five
star hotel for a couple with breakfast and
access to spa facilities for just Rs 9999 plus
taxes per person only. Contact: 4491234
Experience the Gyakok @ Shambala
Garden, Hotel Shangri~la only @ Nrs.1700
Nett per person and Nrs.3000 Nett for couple. For more details and reservation:
4412999
Enjoy Gourmet Saturday Brunch with
your family and friends at the Sunrise
Restaurant , Hotel Yak & Yeti from 12-7 pm
every Saturday. Contact: 4248999
Escape, relax and get in shape @ Hyatt
Regency. Embark on a personal well-being at
Club Oasis. Remember us for Tennis, sauna,
Jacuzzi, swimming, fitness centre and Beauty
Salon. Contact: 4491234
E
V
S PEARLS BEFORE SWINE
Enjoy live DJ nights, on every Sunday chill out/
ambient, Wednesday tech/ funk house & Friday
psy/ proggy/ full on from 6:00 pm to 10 pm at
garden and 7:00 pm onwards at club at Funky
Buddha Resturant & Bar, contact: 4700091
Yoga detox and Ayurveda treatments and
retreats every day at Himalayan Peace &
Wellness Centre, Park Village Hotel. Get 10%
discount on all Ayurvedic treatments.
Contact: 980106661
C M Y K
sports
kathmandu post
the
PG 11
Sunday,May29,2016
McEnroe to work with Raonic
Middlesbrough sign winger Fischer
Seven-times Grand Slam champion John McEnroe is
joining the coaching team of Canadian world number nine Milos Raonic, the American said on Friday.
McEnroe, 57, made the announcement while working
for television channel Eurosport at the French Open.
Raonic, 25, is a former Wimbledon semi-finalist who
also works with Spaniard Carlos Moya.
Danish international Viktor Fisher joined promoted
Middlesbrough on a three-year contract from Ajax
Amsterdam, the clubs said on Friday. The 21-year-old
winger, who has won eight caps, was under contact to
the Dutch league runners-up until the end of next season but has moved to the English Premier League for
an undisclosed fee.
Rashford scores
in England debut
budget allocation
Govt focuses on
infrastructure
Post Report
Kathmandu, May 28
The government on Saturday
allocated Rs 2.4 billion budget
to Youth and Sports Ministry
for the fiscal year 2016-17 with
more stress on building infrastructure.
In the budget presented by
Poudel, the government allocated Rs 2.2 billion on current
and Rs 197 million in capital
expenditure. The country in
preparing to host the seventh
National Games as well as the
13th South Asian Games next
year. The government has set
aside another Rs 200 million
for the National Games.
The government’s will complete three cricket stadia
including the under-construction Mulpani Stadium in the
next three years. The other
two cricket stadia will be built
in Bhairahawa and Dhangadi.
The budget also mentioned
constructing new cricket stadia in Dadheldhura, Baitadi,
Dhanusha, Morang, Dang,
Surkhet and Parsa.
The budget mentioned constructing international-standard
football
stadia
in
Kathmandu and Lakhanpur,
Jhapa from next year.
Next year will also see the
start of construction of two
stadia in high altitude
regions--Solukhumbu
and
Mustang. The government
also made it mandatory for
community schools across the
country to organise the
President’s Running Shield
Competition.
The government also allocated budget to construct one
stadium and a multi-purpose
covered hall in each state.
Woods skips Memorial tournament
Tiger Woods will not play next week’s Memorial tournament in Ohio after failing to enter by the deadline on
Friday afternoon. His continuing absence suggests the
odds of the 14-times major champion playing the US
Open in three weeks are getting longer by the day.
Woods has not played since undergoing microdiscectomy back surgery last September.
Ali ton powers England
Reuters
CHESTER-LE-STREET, May 28
Moeen Ali thumped a careerbest 155 not out as England
declared on 498-9 to dominate
the second day of the second
Test against Sri Lanka on
Saturday.
The No 7 batsman Ali hit 17
fours and two sixes to put
England in complete control
in this game and the series
after winning the first Test by
an innings. At Tea, Sri Lanka
were 32-1, having already lost
Dimuth Karunaratna for nine,
bowled by James Anderson.
England were in a good
position at 310-6 overnight,
but Ali made that a powerful
position with his second Test
century and highest score by
far. He had stands of 92 with
Chris Woakes (39) for the seventh wicket and 72 with
Steven Finn, who only made
10 runs, for the ninth wicket.
Ali, who passed 1,000 runs
in Test cricket earlier on
Saturday, was fortunate to sur-
n England’s Moeen Ali celebrates after scoring a century against Sri
Lanka on the 2nd day of their second Test mach on Saturday. vive on 36 when Dimuth
Karunaratne put down a
catchable chance off Nuwan
Pradeep at gully. With Woakes
also being dropped, by wicketkeeper Dinesh Chandimal off
Shaminda Eronga on 12, Sri
Lanka failed to reproduce
their expert catching of the
first morning. They did eventually dismiss Woakes, who
feathered a ball to substitute
Reuters
wicketkeeper Kusal Mendis
off Suranga Lakmal, after a
stand of 92 with Ali.
Summary
Sri Lanka 32-1 (K Mendis not out 14; J
Anderson 1-14) trail England 498-9
decl (M Ali 155 not out, A Hales 83, J
Root 80; N Pradeep 4-107, S Lakmal
2-115, M Siriwardana 2-35) by 466 run
at Tea on second day
n England’s Marcus Rashford vies for the ball with Australia’s Mark Milligan during their international
friendly match at Stadium of Light in Sunderland on Friday. Associated Press
SUNDERLAND, May 28
euro warm-ups
Results
Reuters
the Euros—against Cristiano
Ronaldo’s
Portugal
on
Thursday.
Rashford, who was only
starting because of an injury
to Daniel Sturridge, celebrated almost bashfully after
running onto a deflected cross
from Raheem Sterling and
volleying home a shot inside
the neat post. Rashford is the
third-youngest player to
score for England, behind
Rooney and Michael Owen. A
19-year-old Tommy Lawton
was the previous youngest
player to score on England
debut, in 1938.
Rooney’s goal had its origins in a smart turn from
Rashford near the halfway
line. Sterling raced on and
passed the ball across to
Rooney, who controlled and
smashed home a rising shot
from the edge of the area.
Hodgson decided to bring off
Rashford in the 63rd minute,
to applause around the
ground. The youngster played
as a winger in the second half
to accommodate Rooney.
Teenage star Marcus Rashford
made a convincing case to be
included in England’s squad
for the European Championship by scoring within three
minutes of his international
debut in a 2-1 friendly win
over Australia on Friday.
Wayne Rooney scored
England’s other goal after
coming on as a halftime substitute in the team’s final
game before their final 23-man
squad is selected.
Rashford only made his
Manchester United debut in
February but a fairytale
first season could yet be
extended to include Euro 2016.
At 18 years and 208 days,
Rashford became the youngest player to score on his
England debut and he played
a part in Rooney’s 55th-minute goal before getting a
standing ovation when he
was substituted.
“Let’s wait and see,”
England coach Roy Hodgson
said about Rashford’s potential inclusion in the squad. “I
have until Tuesday. But he
certainly wouldn’t be out of
place in anyone’s 23.”
Rashford has already scored
on his United debut, his
Premier League debut and in
his first Manchester derby.
Now he has scored with his
fourth touch of the ball in
international football, after
138 seconds.
Australia, who overran
England for spells in the first
half, scored from an own goal
by substitute Eric Dier.
England also beat Turkey 2-1
on Sunday, and have one
more warmup game before
Shrestha bags
charity golf
championship
Spieth within two
shots of Molder
Post Report
Reuters
Kathmandu, May 28
FORT WORTH (Texas), May 28
Vijay Shrestha Einhaus won
the ‘We are all able charity
golf tournament’ here at
Gokarna Golf Club on
Saturday.
Vijay sank five birdies
against three bogeys on his
way to score 39 points. He was
also eligible to win the best
gross award but due to
one-player one major prize
rule, he chose to take the nett
winner prize and collected a
return ticket to Singapore
from Kathmandu courtesy
Silk Air. He also got hold of
most birdies award.
SSP Rajendra Shrestha
ended up as runner-up, five
points behind Einhaus. Tashi
Tshiring took home the best
gross award with 33 points.
Retired Maj General Mahesh
Bahadur Karki bagged the
senior category title. Mayank
Dahal grabbed the junior category award with 36 points.
Phuntshok Lama won the
longest drive award and
Pemba Sherpa the closest-tothe-pin honour.
Jordan Spieth made light
work of
the “Horrible
Horseshoe” to surge into contention after his second round
of the weather-hit Colonial
tournament in Texas on
Friday.
Bryce Molder tops the leaderboard at Colonial Country
Club in Fort Worth on
nine-under after 15 holes of
his second round, a stroke
ahead of Webb Simpson (67).
Spieth shot a 66 to post a seven-under 133 halfway total
and is tied for third at seven-under with Patrick Reed,
who played just eight holes on
Friday. Half the field did not
complete the second round
due to a five-hour morning
thunderstorm delay, with
some managing only six holes.
Spieth, who started at the
10th, picked up four shots in
five holes after the turn,
including birdies at the difficult fourth and fifth. “That
was a big back nine to climb
back into contention. I was
very pleased with that run
Croatia
England
Ireland
NIreland
Czech Rep
1-0Moldova
2-1Australia
1-1Netherlands
3-0Belarus
6-0 Malta
n Jordan Spieth
there,” Spieth told Golf
Channel. The world No 2
added that he was shaping 90
percent of his shots with a
draw, moving the ball from
right to left, to increase his
“comfort level”.
In his third tournament
since he frittered away the
Masters with a quadruple
bogey at the 12th hole during
the final round, Spieth sounded upbeat with the US Open
three weeks away.
He was particularly satisfied to play the difficult threehole stretch from No 3 dubbed
the “Horrible Horseshoe” in
two under par. The second
round was to resume on
Saturday at 1230 GMT.
C M Y K
sports
SPORTS DIGEST
Ricciardo takes
first F1 pole
MONACO: Australian
Daniel Ricciardo seized
the first pole position of
his Formula One career
at the Monaco Grand
Prix on Saturday with
world championship
leader Nico Rosberg joining him on the front row
for Mercedes. The pole,
in a time of one minute
13.622 seconds, was former champions Red
Bull’s first since the
Brazil Grand Prix in
November 2013. Triple
world champion Lewis
Hamilton qualified in
third place. (REUTERS)
ASSOCIATED PRESS
PARIS, MAY 28
Holder Serena Williams survived her toughest challenge
yet at this year’s French Open
as she battled into the fourth
round with a 6-4, 7-6(10) win
over Frenchwoman Kristina
Mladenovic in a rain-disrupted match on Saturday.
The American’s victory
charge was halted for more
than 2-1/2 hours as a thunderous downpour descended over
Roland Garros with Williams
leading 6-4 6-6. When the duo
came back on court to resume
battle in a titanic tiebreak
lasting 17 minutes, Williams
produced some howlers as
four match points went begging. She will next face
Ukrainian 18th seed Elina
Svitolina, who knocked
out 2008 champion Ana
Ivanovic.
In her seven previous
matches
with
Ivanovic, Svitolina
had only managed
to win a set. She
had also lost twice
at Roland Garros
against the 2008
champion.
The
18th-seeded
Ukrainian ended
that winless run on
Saturday,
downing
Ivanovic 6-4, 6-4 on the
Parisian clay to return to the
fourth round of the major
EUGENE: Britain’s multi
Olympic and world
champion Mo Farah won
the 10,000m race at the
Prefontaine Classic in
Oregon on Friday in an
ominous warning to his
rivals ahead of the Rio
Olympics. Competing in
his first outdoor track
event since he won the
5,000m-10,000m double at
World Championships in
Beijing, Farah held off
Kenya’s William Malel
Sitonik to win in 26:53.71
seconds—the third fastest time of his career. (AP)
Lewandowski in
talks with Real
‘Ibra’s next club
not decided yet’
PARIS: Swedish star footballer Zlatan
Ibrahimovic’s next club
has not been decided
despite interest from
Manchester United,
according to his agent
Mino Raiola. The 34-yearold is free after his Paris
Saint-Germain contract
ended, with the Sweden
captain now preparing to
lead his team to Euro
2016. The striker is still
to decide his future and
could yet make a surprise move, according to
his representative, who
said he is in no rush to
do a deal. Raiola added
there is no rush for Ibra
to sign a contract at
another club. (IANS)
‘Pakistan need to
acclimatise,
says Riaz
KARACHI: Pakistan paceman Wahab Riaz said his
side will need to acclimatise to the English conditions to outclass the
hosts in their upcoming
tour kick starting on
July 14. Pakistan will
play four Test, five oneday internationals and a
Twenty20. The first Test
begins on July 14.
“England are a very
tough opponent in
home conditions, therefore, the green-shirts
would have to be on top
of their game to compete
with the English team,”
Riaz was quoted as saying by The Dawn on
Saturday. (IANS)
Selected results
Women’s Singles
Serena Williams (US) bt Kristina
Mladenovic (FRA) 6-4 7-6(10), Carla S
Navarro (ESP) bt Dominika Cibulkova
(SVK) 6-4, 3-6, 6-1, Timea Bacsinszky
(SUI) beat Pauline Parmentier (FRA)
6-4, 6-2, Elina Svitolina (UKR) bt Ana
Ivanovic (SRB) 6-4, 6-4
nnn
Men’s Singles
Dominic Thiem (AUT) bt Alexander
Zverev (GER) 6-7(4), 6-3, 6-3, 6-3,
tournament. “First win
against Ana, it’s huge for me,”
said Svitolina, whose best
result at the French Open is a
quarter-final spot last year,
when she lost to Ivanovic.
Svitolina, who made her
debut on the tour four years
ago, has added three-time
French
Open
champion
Justine Henin to her coaching
team this year, hoping that the
former top-ranked player
would help her reach a new
level. Although an injury
hampered her quick progression this season, Svitolina
said Henin’s experience has
helped her mentally.
The 14th-seeded Ivanovic
managed to hold just three
times when serving and got
broken seven times by
Svitolina. She also hit 29
unforced errors. “My forehand wasn’t really working
today,” Ivanovic said. “I was
making a lot of errors. I managed to get back into (the)
match and then few disappointing errors always came
in the wrong time. I felt like
that was sort of throughout
the match.” Also advancing to
the fourth round were No 8
seed Timea Bacsinszky, who
beat Pauline Parmentier 6-4,
6-2, and No 12 Carla Suarez
Navarro.
In the men’s draw, Dominic
Thiem prevailed in the duel of
rising tennis stars, downing
teenager Alexander Zverev 6-7
(4), 6-3, 6-3, 6-3. The 13th-seeded Thiem equaled his best
result at a major tournament
after reaching the round of 16
at the US Open in 2014. It was
the third time that Thiem and
Zverev faced each other in
four weeks, with Thiem
extending his winning record
to 3-0.
Thiem’s next opponent will
be Marcel Granollers, who
advanced without playing
thanks to Rafael Nadal’s withdrawal with a wrist injury.
Nadal pulls out with wrist injury
n Serena Williams of the US returns to Kristina Mladenovic of France during their French Open tennis
tournament match at Roland Garros in Paris on Saturday. REUTERS
Messi scare in
Argentina win
REUTERS
BERLIN, MAY 28
Twenty-three athletes from
five sports tested positive for
banned drugs in rechecks of
265 samples from the 2012
London
Olympics,
the
Inter national
Olympic
Committee (IOC) said on
Friday.
The results, part of the
IOC’s re-testing of samples
from past Games to keep
cheats from competing at the
Rio de Janeiro Olympics in
August, involved athletes
from six different national
teams four years ago. The
IOC, which stores samples for
a decade in order to retest
using newer methods or to
look for new drugs, will not
name the athletes or the
sports until the second sample
has been analysed. That pro-
n Lionel Messi of Argentina battles for the ball with Jhonny Leveron
(right) of Honduras during their international friendly match in San
Juan, Argentina on Friday. REUTERS
BUENOS AIRE, MAY 28
Argentina had a scare when
Lionel Messi had to be substituted after incurring a back
injury during a 1-0 win over
rugged Honduras in a Copa
America Centenario warm-up
friendly on Friday.
Messi walked off in pain in
the 64th minute in San Juan
after a clash with Honduras
substitute Oliver Morazan 10
days before Argentina’s opening Group D match against
Chile. The team later dispelled fears of a serious injury, saying on their Twitter
account that Messi had “suffered bruising on the left of
his lower back and ribs.”
Gonzalo Higuain scored the
only goal for Argentina.
In other warm-up matches
for the June 3-26 tournament
in the United States, Edinson
Cavani struck twice as
Uruguay overcame Trinidad
and Tobago 3-1 and title holders Chile were upset 2-1 by
Jamaica.
Higuain struck after half
an hour for Argentina when
he received a low cross from
the left by Marcos Rojo with
his back to goal, turned central
defender
Maynor
Figueroa and chipped left-footed over goalkeeper Donis
Escober. Argentina meet
Chile in Santa Clara,
AP
California, on June 6 and also
face Bolivia and Panama in
Group D.
Uruguay, without the
injured Luis Suarez, came
from a goal down after Jomal
Williams
had
put
the
Trinidadians ahead in the seventh minute in Montevideo.
Cavani equalised with a
26th-minute penalty for a foul
by Weslie John on midfielder
Nicolas Lodeiro and put
Uruguay ahead in the 39th
with a shot from the right at a
corner. Matias Vecino, who
made his debut against Brazil
in a World Cup qualifier in
March, increased Uruguay’s
lead seven minutes after halftime with his first international goal. Uruguay face
Mexico in Glendale, Arizona
on June 5 before also meeting
Jamaica and Venezuela in
Group C.
Jamaica,
who
meet
Venezuela in Chicago on June
5, stunned a Chile side fielding several reserves in Vina
del Mar scoring through
Clayton Donaldson and Simon
Dawkins before substitute
Nicolas Castillo pulled one
back late on.
Results
Argentina 1-0Honduras
Uruguay
3-1 Trinidad & Tobago
Chile
1-2Jamaica
PARIS: Nine-time French
Open champion Rafael
Nadal pulled out of the
French Open on Friday, citing an injury to his left
wrist.
Nadal, who owns a total of
14 Grand Slam titles, said he
would not even have tried to
compete at any other tournament with the injury, “but
it’s the most important event
of the year for me.” He
played his second-round
match on Thursday after
getting an injection to numb
his wrist. But he said that he
began “to feel more and
more pain” overnight and
could not move his wrist
much on Friday morning, so
went for an MRI exam.
Nadal added that he can
no longer practice and
wouldn’t have been able
to finish the tournament.
He said there is inflammation in the tendon sheath in
his wrist and was told
that there is no way he
could be given five more
painkilling injections—one
before each possible match
were he to make it all
the way to the final—over
the next 10 days. (AP)
n Rafael Nadal
23 tests positive in rechecks
copa america warm-ups
Starc’s workload
to be managed
BRISBANE: Australia
coach Justin Langer,
standing-in for regular
head coach Darren
Lehman, has said fitagain seamer Mitchell
Starc’s workload will be
carefully managed during the tri-nations series
against the West Indies
and South Africa starting next week in the
Caribbean. Left-arm
seamer Starc has recently returned to action
after being sidelined for
six months following
ankle surgery last year.
And though he has been
impressive in the nets
and bowling at full tilt
during training sessions,
Langer said it would be
important not to overbowl him. (IANS)
thekathmandu post
Williams survives tough test
Mo Farah wins
10,000m race
MUNICH: Bayern Munich
star striker Robert
Lewandowski has held
talks with Spanish football giants Real Madrid,
according to the Polish
international’s agent.
The former Borrusia
Dortmund player, who
scored 30 league goals in
the 2015-16 campaign to
help Bayern claim their
fourth Bundesliga title in
a row, has long been
linked with a switch to
Madrid. And his agent
Cezary Kucharski
revealed that Champions
League finalists Real
have been in contact
with Lewandowski’s
camp. (IANS)
(C.R.P.D.) - 3/052/053
cess can take several weeks.
Last week the organisation
found 31 athletes from six
sports who could be banned
from Rio for failing doping
tests when 454 samples were
re-examined from the 2008
Beijing Olympics. The IOC,
which said one more sample
from Beijing had shown
“abnormal parameters” and
would also be followed up on,
added that the retesting programme was still in progress
and could deliver more positive checks.
“These re-analyses show,
once again, our determination in the fight against doping,” IOC President Thomas
Bach said. “We want to keep
the dopers away from the
Olympic Games in Rio de
Janeiro. “I have already
appointed a disciplinary commission which has the full
london olympics
n Thomas Bach
power to take all the decisions
on behalf of the IOC.” The
targeted retesting focused
mainly on athletes who could
potentially compete in Rio
and the IOC said anyone found
doping would be banned from
those Games.
While the retesting is yielding results, it also raises speculation about the extent of
doping at the Games some two
months before the Olympics.
Doping scandals have plagued
the build-up to the world’s biggest multi-sports event with
Russia under investigation
following a report by the
World Anti-Doping Agency
(Wada) suggesting systematic
doping in that country. Kenya,
famed for its distance runners, is also racing against the
clock to amend its anti-doping
laws in order for Wada to rule
the African nation as compliant again.
In a further blow to its credibility, Russia has confirmed
14 of the positive Beijing
Games rechecks concerned
their athletes, some of whom
are medallists.
12
I HAVE HAD
ENOUGH OF
GOETZE
TRANSFER
TALK: LOEW
n Joachim Loew
REUTERS
ASCONA (SWITZERLAND), MAY 28
Germany coach Joachim
Loew said on Saturday he had
heard enough of the transfer
talk regarding Bayern Munich
midfielder Mario Goetze and
had ordered all other players
to deal with any potential
transfers after Euro 2016 starting next month.
Goetze, 23, who scored
Germany’s winning goal in
the 2014 final and has been a
regular starter under Loew,
has been struggling for three
seasons at Bayern and was
expected to leave at the end of
this campaign. However a surprise U-turn this week by the
player, who said he would stay
at Bayern, angered club bosses who said Goetze had been
properly briefed about his
future and about potential
limited playing time under
new coach Carlo Ancelotti.
“I am not interested in this
talk any more,” Loew, who
days ago had suggested a
move would be good for
Goetze, told reporters at the
German training camp on the
shores of Lake Maggiore.
“This is something that I do
not want to be confronted
with any more and I will not
talk about it again. It has been
a few days now that I am not
interested in this issue any
more and I am also not interested in who says what.”
Germany
international
Goetze has failed to carve out
a starting spot since joining
Bayern from rivals Borussia
Dortmund in 2013 and had
been linked with a possible
move to Liverpool but on
Monday he poured cold water
on a move, saying he wanted
to see out his contract until it
expired in 2017. “Goetze is a
player with a lot of abilities.
After such an emotional
moment (World Cup 2014) it is
not unusual for a player to
experience a slump. All players who have transfer issues
should now deal with them
after the Euro. Not now,”
added Loew, who team are eyeing their first continental title
in 20 years.
Schalke attacking midfielder Leroy Sane has also been
linked with a move to the
Premier League in recent
days but on Thursday the
player said he would deal with
the matter after the Euro.
Bangalore, Hyderabad clash for title
INDO-ASIAN NEWS SERVICE
BENGALURU, MAY 28
All eyes will be set on the M
Chinnaswamy Stadium where
Royal Challengers Bangalore
(RCB)
and
Sunrisers
Hyderabad (SRH) play for the
Indian Premier League (IPL)
crown here on Sunday.
Led by an inspirational
Virat Kohli, RCB will be hoping to get the monkey off their
back after failing to win in
both
their
previous
attempts—2009 and 2011—and
also relish the opportunity of
Warner steals the show
NEW DELHI: Skipper David
Warner’s unbeaten 96 runs
helped Sunrisers Hyderabad
overcome Gujarat Lions by
four wickets to enter the
final of the Indian Premier
League (IPL) here on Friday.
After Aaron Finch’s
32-ball 50 lifted Gujarat to
162-7 in the second qualifier
at the Ferozeshah Kotla
Stadium,
Warner
single-handedly guided his
indian premier league
bagging their maiden IPL trophy. On the other hand, having managed to reach the playoffs just once in their debut
season in 2013, Hyderabad
will bank on their bowling
prowess and skipper David
Warner.
Struggling to find consistency in the league, Bangalore
made a stunning comeback to
register five consecutive wins
before reaching their third
final. RCB’s success story centred around skipper Kohli and
AB de Villiers’s glorious run
with the bat. With 919 runs
under his belt, Kohli has
amassed four centuries and
six fifties in this edition so far
to be the highest run-getter
team past the target as he
forged a 46-run unbroken
stand with Bipul Sharma (27
not out) for the seventh
wicket.
Warner, who hit 11 fours
and three sixes in his 58-ball
knock, ran out of support
and his side was reduced to
117-6 in 15.5 overs when the
last recognised batsman,
Naman Ojha departed. But
Bipul played a perfect foil to
Warner as the duo stunned
while the South African is the
third highest scorer in the
league with 682 runs, including one century and six
half-centuries.
David Warner of Hyderabad
plays a shot against Gujarat
during their IPL Qualifier 2 in
Delhi on Friday.
PHOTO COURTESY: CRICINFO
Gujarat to help Hyderabad
enter the final for the first
time. (IANS)
After struggling to strike
form in the early stages of the
tournament, Kohli’s opening
partner Chris Gayle has found
his touch at the right juncture
Summary
Hyderabad 163-6 in 19.2 overs (D
Warner 93 not out; S Kaushik 2-22, D
Bravo 2-32) beat Gujarat 162-7 in
20 overs (A Finch 50, B McCullum
32; B Kumar 2-27, B Cutting 2-20)
by four wickets
Man-of-the-match: D Warner
while young keeper-batsman
Lokesh Rahul has been
a revelation for the team in
this edition.
Despite all-rounder Shane
Watson not getting much
opportunity to show his prowess with the bat in the 15
matches,
the
veteran
Australian has led the side’s
weakened bowling unit with
20 wickets so far alongwith
young leg-spinner Yuzvendra
Chahal, who also has as many
wickets but from 12 games.
England’s Chris Jordon has
also joined the party in helping RCB in containing their
rivals in the death overs.
Coming into the final on the
back of two high profile
wins—first against two-time
champions Kolkata Knight
Riders by 22 runs in the eliminator and then against Lions
in the second qualifier—the
visitors will go all out to
clinch their maiden trophy.
The visitors have also found
an inspiring leader in Warner,
who is next to Kohli to be the
second highest run-getter
with 779 runs from 16 games
including eight fifties so far.
Besides Warner, Sunrisers
also have the likes of Shikhar
Dhawan (473 runs), the experienced Yuvraj Singh, Moises
Henriques, Deepak Hooda,
Naman Ojha and big-hitting
allrounder Ben Cutting in the
batting department. More
than the batting, the side’s
pace bowling strength has
been a challenge for the opposition in this edition.
Published and Printed by Kantipur Publications Pvt. Ltd. Kantipur Complex, Subidhanagar, Kathmandu, Nepal, P. B. No. 8559, Phone: 5135000, Fax: 977-1-5135057, e-mail: kpost@kmg.com.np, Regd. No. 32/048/049, Chairman & Managing Director : Kailash Sirohiya, Director : Swastika Sirohiya, Editor-in-Chief : Akhilesh Upadhyay
money
kathmandupost
the
FOREX
CROSS CURRENCY
US Dollar
USDEUR JPY GBP CHF CAD AUD INR NR
INR 67.022574.895 0.611 98.279 67.686 51.4053 48.34
GBP0.6825 0.7621 0.0062
JPY109.62 122.51
EUR0.8947
USD
finance&economy
0.6244
0.6887 0.5235 0.4922 0.0102 0.0064
157.2500 110.75 84.09
107.48
Euro120.15
NR 107.4800120.1500 9.8000 157.3400 108.5200 82.4200 77.6400 1.6015
79.0600 1.6367 0.1020
0.0080 1.2646 0.9029 0.6868 0.6451 0.0134 0.0083
1.1374 0.0091 1.4385 1.0098 0.7673 0.7214 0.0149 0.0093
HOW TO READ THE TABLE
The chart shows the rates of nine world currencies. Move across the table to find rates of exchange between any two
currencies. One unit of the currency mentioned vertically is worth that amount in the currency mentioned horizontally.
Pound Sterling
157.34
Japanese Yen
9.80
Chinese Yuan
16.38
Qatari Riyal
29.52
Australian Dollar
77.64
Malaysian Ringit
26.35
Saudi Arab Riyal
28.66
Exchange rates fixed by Nepal Rastra Bank
SUNDAY, MAY 29, 2016 (16-02-2073) kathmandupost.ekantipur.com
Fed boss: Rate hike likely in coming months
INSIDE
Experts doubt govt’s
ability to implement
Although the government has put
strong emphasis on the infrastructure
development in the annual budget
presented on Saturday, experts have
questioned the government’s ability
to implement its promises given its
track record. The government has
ambitiously allocated resources for
projects like Kathmandu-Nijgadh Fast
Track, Mid-hill Highway, Postal
Highway, Budhi Gandaki Hydropower
Project, Gautam Buddha Regional
International Airport, Pokhara
International Airport, Second
International Airport in Nijgadh and
irrigation project in the Tarai, among
others. However, given the government’s poor performance in terms of
spending in the past years, experts
doubt about the successful development of the aforementioned projects.
“When we look at the budget allocation, it seems like government has
prioritised infrastructure development,” said Rameshwar Prasad
Khanal, former finance secretary. Pg: II
How four words rewrote
Bayer-Monsanto
merger deal script
“There is nothing there.” Monsanto
Co President Brett Begemann uttered
those words last week to a small
group of investors and a Reuters
reporter when asked how the world’s
largest seed company he helps lead
might fit with German drugs and crop
chemicals group Bayer AG. Those
four words, said on the sidelines of a
New York conference, set off a series
of events leading to the disclosure of
Bayer’s confidential, $62 billion bid
for Monsanto, the largest all-cash corporate takeover offer on record. Bayer
had sent a confidential acquisition
proposal to Monsanto on May 10.
Media reports surfaced two days later
that Bayer was considering a bid.
Initially, neither company would comment on whether any talks were taking place — a common practice for
many corporations that prefer to
negotiate deals in private and only
tell Wall Street if they manage to
come to terms.
Pg: III
Page III The Federal Reserve should raise interest rates “in the coming months” if the economy picks up as expected and
jobs continue to be generated, US central bank chief Janet Yellen said on Friday.
Income tax exemption
limit hiked to Rs350k
PRAHLAD RIJAL
budget 2016-17
KATHMANDU, MAY 28
In the budget for fiscal year
2016-17 presented on Saturday,
Finance Minister Bishnu Poudel
has raised the income tax exemption limit to Rs350,000 from the
current Rs250,000.
As per the budget, individuals
who earn less or equal to
Rs350,000 and couples who earn
less or equal to Rs400,000 are not
liable to pay income tax.
The government, however, will
levy Rs5 per litre of petroleum
products as infrastructure tax.
The revenue collected will be
used to build the Budhigandaki
Hydropower
Project.
The
government is expected to raise
more than Rs7 billion from infrastructure tax annually.
The government has also hiked
tax rates on almost all liquor, cigarette and tobacco products. It has
decided to waive VAT (Value Added
Tax) on the import of agricultural,
irrigational and livestock breeding
equipment. The customs duty on
the import of those equipments has
been brought down to 1 percent.
The government has also decided
to take 1 percent custom charge on
vehicles brought for hauling products of animal husbandry farms
and dairy business.
Electric vehicles brought for
public transportation purposes
have been granted a 100 percent
excise duty waiver, while the customs charge on such vehicles has
been set at 1 percent. Moreover,
electric vehicles brought for private purposes will also get a 100
percent excise duty exemption,
while the custom charge for such
vehicles has been set at 10 percent.
The VAT on medical equipment
used for the treatment of diseases
related to cancer, heart and kidney
has been waived off, while the custom duty has been set at 1 percent.
n
RAJESH KHANAL
KATHMANDU, MAY 28
Finance Minister Bishnu Paudel presents the budget for fiscal year 2016-17 at the Parliament in Kathmandu on Saturday.
POST PHOTO: ANGAD DHAKAL
Individuals who earn less or equal to Rs3,500,00 and couples who
earn less or equal to Rs4,000,00 are not liable to pay income tax
Tax payers with a business
smaller or equal to Rs1 million
will not be liable to conduct
financial
audits.
The
VAT
threshold on services industry and
product-service industry has been
hiked to Rs2 million from the previous Rs10 million.
Based on the adherence to tax
rules, taxpayers will be classified
into three groups—best, normal
and risky—depending on tax
participation,
bookkeeping
and past tax records. The government will present a unified tax code
bill at the Parliament to simply the
tax law and procedures.
The government has also implemented a mandatory provision that
requires the disclosure of VAT
amount along with the prices of
products displayed at industrial
exhibitions, shops, hotel, restaurants, and bars.
Agriculture, forest and mine
industries are subject to income
tax waivers equal to discounts provided to special industries. Battery
disposal and reproduction industries have been offered VAT waivers on imported equipment, while
the customs duty on such equip-
ment has been set at 1 percent.
As per the budget, the
government will focus on implementing the tax system through
electronic processes to encourage
voluntary tax payment while boosting taxpayers’ morale.
The budget states the revenue
leakage will be controlled through
policy-level and administrative
reforms, which will be implemented under the motto of “Clean
Administration: Clean Business”.
The government has put an
information bank project under
high priority. Under this project,
the people with an annual income
of more than Rs4 million are
required to disclose income statements for record keeping.
BUDGET 2016-17: ALLOCATIONS COMPARED
Rs 37.59 billion
Rs 24.46 billion
Rs 28.30 billion
Rs 115.83 billion
RECONSTRUCTION
Rs 48.42 billion
Rs 140.66 billion
Rs 54.66 billion
Govt allocates
Rs35.86 for
farm sector
Rs 104.57 billion
Rs 35.88 billion
The government, in the
budget for FY 2016-17, has
come up with a number of
ambitious programmes to
boost the agriculture sector.
Even as the government
struggles to implement programmes announced in the
previous budget, the government has allocated
Rs35.86 billion for agriculture development and livestock promotion—up 57 percent compared to last year’s
allocation. The government
plans to implement the
“Prime
Minister
Agriculture Modernisation
Project” to boost production
and productivity. For the
purpose, the government
has allocated Rs5.78 billion.
The project aims at making
the country self-reliant in
wheat and vegetables by the
next fiscal year.
It also envisages making
the country self-reliant in
paddy and potato in the
next two years; corn and
fish in three years; banana,
papaya and lichi in four
years; and kiwi, apple,
orange, sweet orange and
mango in 10 years. “For the
purpose, specialised agriculture production areas
will be identified based on
land fertility,” states the
budget. Under the scheme,
land will be divided into
four categories—pocket,
block, zone and super zone.
The pocket areas will get
subsidies on fertilisers and
irrigation canal construction, besides other technical
support and ensuring easy
availability of seeds and
saplings. Farmers in blocks,
zones and super zones will
receive additional benefits
including 85 percent subsidy on construction of agro
production collection centres,
warehouse,
haat
bazaar, processing and
training centres. Those
involved commercial farming in the blocks will get 50
percent grant on purchasing equipment. The government has also announced
providing the services
through 15 mobile laboratories in the specialised agriculture production areas.
Expert Hari Dahal hailed
the government’s plan.
“However, the effectiveness
of the programmes will depend on implementation.”
The government will also
divide farmers into four categories—agriculture
labour, marginalised farmer, semi-commercial and
commercial farmers. The
budget has also announced
forming a farmer’s commission, besides carrying out a
study to set up a social security fund. Dahal said the
commission, if represented
Irrigation gets
Rs24.46 billion
KATHMANDU: The government has earmarked Rs24.46 billion
for the irrigation sector for the next fiscal
year. It plans to make
available the irrigation
facility to the entire
arable land in the next
five years. The budget
has also allotted Rs2.30
billion for starting
“Prosperous
TaraiMadhesh Irrigation
Special Programme”
in 11 districts. The programme will provide
“modern irrigation
facilities” in 22 districts of Tarai and
inner Tarai. (PR)
by professionals, will help
resolve problems being
faced by the farmers. “Also,
the commission should be
free from any political
intervention,” he said.
The budget has continued the government’s
scheme of providing 75 percent on the premium of
crops and livestock insurance. It has also raised the
subsidy on interest on agriculture loans to 5 percent
and removed the ceiling of
Rs10 million on the agriculture credit to become eligible for the subsidy.
The government will provide the loans to the farmers on the basis of the crops
they have planted. It will fix
support prices for paddy,
wheat, corn and sugarcane
before harvest. Expanding
the “Chaite Dhan Promotion
Programme” to 35 districts,
running aromatic paddy
production in 20 districts,
extending mid-hill corn production to 41 districts and
developing fruits forest
along the postal and midhill highways are other programmes the government
has envisioned.
The budget has allocated
Rs8.46 billion for boosting
the production of egg, meat
and milk. Under the scheme,
the government aims at
making the country self-relient in egg by the next fiscal year. It has also planned
to make the country self-reliant in meat and milk in
two and three years.
Dahal stressed on the
need for increasing the
budget for research and
development. “Developing
policies based on research,
delegating power to local
authorities to implement
the programmes, increasing the efficiency of project
implementation, and incorporating new farmers in the
assigned
programmes
should be the government’s
priorities,” he said.
RECORD-BREAKING NUMBERS
Tourism boom fires Iberian economies but leaves some cold
ASSOCIATED PRESS
BARCELONA, MAY 28
With sunny days getting longer
and lazier, sparkling beaches
warming up and terrorism fears
driving customers away from
other Mediterranean destinations, Spain and Portugal are
reaping an economic bonanza
from tourism.
While most in the cashstrapped nations are welcoming
the influx, some locals have been
exasperated by the crowds of
tourists. In the first two months
of this year, the number of holidaymakers arriving in Spain was
up more than 11 percent on the
same period in 2015.
Authorities predict that Spain
is on course for its fourth straight
record-breaking tourism year.
ABTA, the United Kingdom’s
largest travel association and
Iberia’s main market, reports
that bookings to Portugal are 29
percent up compared to last year,
and are 26 percent higher for
Spain. That’s broadly seen as
good news for the two Iberian
economies, which nosedived during Europe’s recent financial crisis. But not everyone is cheering.
With the boom showing no signs
of slowing and the summer vacation season approaching, some
locals are fed up with throngs of
tourists clogging the narrow
streets of the peninsula’s centuries-old cities and crowding its
celebrated beaches.
In Palma, capital of the popular Spanish island of Mallorca,
graffiti in English appeared on
city walls last month saying,
“tourist you are the terrorist”
and “tourist go home.” In
Barcelona, complaints about
ove-rcrowding have grown so
much that residents elected a
mayor last year who is making
good on promises to put a brake
on new hotel construction and is
exchanging ideas with New York
City officials on how to cope with
the crush.
Meanwhile, on the opposite
coast, residents in the Portuguese
capital of Lisbon grumble about
packed sidewalks and heavy traffic. Tourism analysts say security
concerns are helping drive business toward the western
Mediterranean areas and away
from Europeans’ other traditional summer hotspots, especially
Egypt, Tunisia and Turkey. “The
threats from terror have come
into play,” says Rochelle Turner,
director of research at the World
Travel and Tourism Council in
While most in the
cash-strapped nations are
welcoming the influx, some
locals have been exasperated
by the crowds of tourists
London, a forum for industry
businesses.
Turkey’s visitor count in April
was down nearly 30 percent compared to a year earlier, the tourism ministry said Friday. Spain,
Europe’s most popular destination after France, hosted 68.1 million tourists last year—almost 5
percent up on the previous year—
with the United Kingdom, France
and Germany sending most visitors. The tourist trade brought in
67.4 billion euros ($75.3 billion) in
2015, the national statistics agen-
cy says. In the first three months
of this year, tourism created
almost 89,000 new Spanish jobs.
In a country with 20 percent
unemployment, that’s a welcome
development. But some say the
surge has to be better managed.
“We cannot just keep growing at
breakneck speed in terms of volume, filling or exceeding the
capacity of some destinations,”
Exceltur, a nonprofit group
formed by the chairmen of the 25
leading Spanish tourist groups,
has warned.
The people of Barcelona may
agree. The Catalan capital of 1.6
million people received 4.2 million tourists in 2005. Last year,
that number reached 7 million,
triggering alarm. “I’m all for a
concept of sensible tourism ... but
the truth is we have been invaded, and Barcelona’s own success
is its own worst enemy,” said
retiree Rosa Maria Miguel, 65,
from the Barceloneta district—a
historic fishermen’s quarter that
nowadays boasts an exclusive
marina for glamorous megayachts.
Aime Bwakira, a 41-year-old
financial analyst from Toronto,
likes Barcelona so much that he
recently made his third visit,
though he acknowledges the
influx of tourists like him can be
“overwhelming”. “I can certainly
sympathize with local frustrations because, while we bring
money to the local economy, we
also crowd the streets, push prices up and bring noise and rowdiness,” he said. “I don’t know what
the right balance is, but it’s not
an easy one.”
Barcelona Mayor Ada Colau is
determined to find that balance.
“Barcelona has consolidated
itself as one of the world’s prime
destinations, which has its obvious benefits, but also entails
high-impact risk that unregulated growth could eventually make
the bubble burst,” she said
recently. Her administration has
imposed a moratorium on new
hotel accommodation and is mulling the introduction of a “tourist tax” on visitors, with revenue
being spent on other sectors in
order to spread the benefits.
While Barcelona seeks to slow
things down, in Lisbon there’s a
dash to keep up with surging
demand. More than 50 new hotels
opened in 2015. Portugal last year
received more than 17 million
tourists—a 9 percent increase on
2014—and in the first quarter of
this year, the number of guests
increased by almost 15 percent.
C M Y K
money
economy
Sunday, May 29, 2016 | the kathmandu post
Japan shares
G7’s inclusive
growth push
NEWS DIGEST budget 2016-17: infrastructure development gets priority
Japan expands
Takata recall
TOKYO: Japan’s transport
ministry said on Friday
automakers will recall
about an additional 7
million cars equipped
with Takata Corp air bag
inflators without a drying agent by March 2019,
bringing the total
recalled in the country to
19.6 million cars. Japan’s
latest announcement
may further ramp up
Takata’s potential recall
costs if the air bag
maker is found to be
responsible for the defective inflators. The company is in bailout talks
with a number of potential investors including
private equity firm KKR
& Co, people familiar
with the matter told
Reuters on Thursday.
The transport ministry
said Takata and automakers had found the
absence of desiccants
could make ammonium
nitrate used in the air
bag inflators deteriorate
when exposed to temperature changes over a
long time. (REUTERS)
Canara Bank
posts $583m loss
NEW DELHI: State-run
Canara Bank reported on
Friday a fourth-quarter
net loss of 39.05 billion
rupees as provisions,
including those to cover
sour debt, jumped six
times. That compares
with a profit of 6.13 billion rupees a year earlier.
Gross bad loans as a percentage of total loans
had jumped to 9.4 percent as of March 31, from
5.84 percent in December,
and 3.89 percent a year
earlier. Provisions,
including for loan losses,
surged to 63.32 billion
rupees in the three
months ending March 31,
from 10.1 billion rupees a
year earlier, Canara
Bank said in a regulatory filing. State Bank of
India, the nation’s top
lender by assets, earlier
on Friday reported a 66
percent slide in Q4 profit
due to higher bad loan
provisions. (REUTERS)
Short sellers
circle Alibaba
NEW YORK: Alibaba
Group Holding Ltd,
which disclosed it is
under investigation for
its accounting practices,
has emerged as one of
the short-selling community’s favorite targets in
the relatively short time
it has been in the public
market. Noted short-sellers Jim Chanos of
Kynikos Associates and
John Hempton of Bronte
Capital have been raising
red flags since last year
about the Chinese e-commerce giant’s accounting
practices. Hempton told
Reuters in an email on
Thursday that Alibaba,
which went public in
September 2014, is “a
real company” but
“with questionable
accounts.” He added:
“The ability to value it
from the accounts is,
thus, tricky.” Hempton
said he believes shares
will eventually “go down
a lot—and get a takeover
bid”. A takeover would
require deep pockets
without an extreme
decline—the company is
currently worth about
$190 billion. Questions
about Alibaba’s growth
rate have dogged the
firm for years. (REUTERS)
Experts doubt govt’s
ability to implement
POST REPORT
KATHMANDU, MAY 28
Although the government has
put strong emphasis on the
infrastructure development in
the annual budget presented
on Saturday, experts have
questioned the government’s
ability to implement its promises given its track record.
The government has ambitiously allocated resources for
projects like KathmanduNijgadh Fast Track, Mid-hill
Highway, Postal Highway,
Budhi Gandaki Hydropower
Project, Gautam Buddha
Regional
Inter national
Airport,
Po k h a r a
International Airport, Second
International Airport in
Nijgadh and irrigation project
in the Tarai, among others.
However, given the government’s poor performance in
terms of spending in the past
years, experts doubt about the
successful development of the
aforementioned projects.
“When we look at the budget
allocation, it seems like government has prioritised infrastructure development,” said
Rameshwar Prasad Khanal,
former finance secretary. “But
given the government’s track
record of poor implementation, I have doubts over the
n
Kathmandu-Nijgadh Fast-Track project.
government’s ability to actually develop these projects.”
After deciding to develop
the Kathmandu-Nijgadh Fast
Track on its own, the government has allocated Rs10 billion for the road project. It
plans to set up a prioritised
office with technical human
resources for the project development. The budget has adopted a provision for a special
mechanism to inspect as well
as facilitate the project.
In the budget for FY2016-17,
Paudel has allocated Rs2.88
billion for the Mid-Hill
Highway project and plans to
complete its construction in
the next five years. The Postal
Highway has received Rs4.2
billion allocation.
The budget has given due
II
attention to the hydropower
development and has allocated
resources for projects to be
build by the government. It
has allocated Rs5.33 billion for
1,200MW
Budhigandaki
Hydropower Project, which is
currently in the process of
land acquisition.
The project’s development
committee had been demanding more than Rs30 billion.
The budget, however, has
decided to levy infrastructure
tax of Rs5 per litre on petrol,
diesel and aviation fuel. The
collected revenue will be used
for the development of the
Budhigandaki hydro project.
The budget has also promised to facilitate hydropower
projects like Arun III and
Upper Karnali that are
being developed by Indian
companies.
However, private sector
companies involved in hydropower development have
lamented the budget has
announced nothing to encourage them to invest in hydroelectricity generation. “There
are no concrete plans on
engaging the private sector in
hydropower development,”
said Subarna Das Shrestha,
immediate past president of
Independent Power Producers’
Association, Nepal.
ASSOCIATED PRESS
NAGOYA, MAY 28
Japanese Prime Minister
Shinzo Abe is sharing a push
by the Group of Seven
advanced industrial nations to
promote inclusive growth
across the globe in meetings
with leaders of seven developing countries.
The bilateral summit meetings
with
leaders
of
Bangladesh, Chad, Indonesia,
Laos, Papua New Guinea,
Sri Lanka and Vietnam in
this central Japanese city
on Saturday followed a
gathering with G7 leaders
after their annual summit,
which was held in a nearby
seaside
resort.
Chad’s
President Idriss Deby was representing the African Union at
the meetings in Japan.
At that session, the leaders
agreed to promote infrastructure development to help boost
growth, Japanese officials
said. They also voiced their
support for the G7’s stance on
the need for peacefully settling territorial disputes
according to law -- a reference
to frustrations over China’s
growing presence in areas of
the South China Sea also
claimed by its neighbours.
Laos, Bangladesh and
Papua New Guinea are among
Japan pledges to increase
its development assistance
and help finance an
insurance fund for
health emergencies
the poorest nations in Asia.
Vietnam and Indonesia are
two of the fastest-growing
developing economies. During
the summit, Abe expressed
strong concern over slowdowns in China and some
other emerging economies
that have sapped global
growth at a time when Japan
and European nations are
struggling to keep their own
recoveries on track.
A more than 50 percent
plunge in commodity prices
was a key signal of the risks to
growth, Abe said. “What we
are concerned about the most
is contraction of the world
economy,” Abe said
Japan has pledged to
increase its development
assistance, help finance an
insurance
fund
for
health emergencies in the
developing world and to
offer training to thousands
of people in the developing
world as part of its own contribution to bridging economic disparities.
‘India growing at Facebook to track non-users around internet
7.5 percent amid
global slowdown’
NEW YORK, MAY 28
In a bid to expand its user
base, social media giant
Facebook has announced it
will begin displaying ads to
web users who are not members of its social network.
“Facebook will use cookies,
‘like’ buttons and other plugins embedded on third-party
NEW DELHI, MAY 28
India’s economy has picked up
pace and achieved a growth
rate of about 7.5 percent amid
a global slowdown, Finance
Minister Arun Jaitley said
here on Saturday.
“At a time when the global
economies are shrinking, our
economy is growing at around
7.5 percent. This is a healthy
growth rate, especially in the
context of current global economic scenario,” Jaitley said
at an event organised here to
mark the two years in office of
the NDA government led by
Narendra Modi.
Titled ‘Ek Nayi Subah’ (A
New Dawn), the gala event
saw the finance minister talking about his ministry’s
achievements during the last
two years. “We brought in the
legislation against black
money that provides for stringent punishment for tax evaders. We registered criminal
cases against several tax evaders,” Jaitley said.
On Panama Papers which
showed the rich and famous in
India exploiting secretive offshore tax regimes, Jaitley said
that criminal cases would be
registered against the people
who have been stashing black
money in tax havens abroad.
“We are giving a chance to
domestic tax evaders to
declare their black money by
paying 45 percent penalty,” he
added.
He also touched upon financial inclusion schemes for the
poor like Jan Dhan Yojana and
Mudra Yojana. “Financial
inclusion has been our focus.
This means joining people
sites to track members and
non-members alike,” a report
in The Wall Street Journal
said.
The company said it will be
able to better target non-Facebook users and serve relevant
ads to them. “Publishers and
app developers have some
users who are not Facebook
users. We think we can do a
better job powering those
ads,” Andrew Bosworth, vice
president of Facebook’s ads
and business platform, was
quoted as saying.
Meanwhile,
Facebook’s
practices have come under
criticism from regulators
in Europe over privacy
concerns. Facebook began displaying a banner notification
at the top of its News Feed for
users in Europe from Friday,
alerting them to its use of
cookies as mandated under an
EU directive.
Facebook believes that targeted advertising can more
accurately target non-members using the vast amounts of
data it already has on the nearly 1.7 billion people who use
the site, the report said.
The company said that “it
can use that data to make
inferences about the behaviour of non-members, an
approach known as “lookalike” targeting”.
“...because we have a core
audience of over a billion
people [on Facebook] who
we do understand, we have a
greater opportunity than
other companies using the
same type of mechanism,”
Bosworth added.
attracting tourists
n Arun Jaitley
with the banking system. In
100 days we brought around 22
crore people into the banking
system which is unprecedented,” the minister said.
Jaitley said his government
also rationalised the tax
regime and the current tax
rates in the country are “very
competitive”. “The previous
government created an atmosphere of uncertainty through
measures like retrospective
tax. We made clear there
would be no retrospective
tax,” he said.
With the forecast of a good
monsoon this year, he hopes to
see a boost in rural economy,
Jaitley said. “To maintain a
growth rate of 7.5 percent
amid global slowdown is a
challenging task. The going
has not been easy for us,” the
minister said.
Headed by Narendra Modi,
the National Democratic
Alliance (NDA) government
was sworn in on May 26, 2014.
n Tourists
walk through the lily field in Fenshui Township of Tonglu County, east China’s Zhejiang Province, on Saturday. Recently, lilies in Tonglu county are in full blossom, which
have attracted many tourists. XINHUA
G O I N G D U T C H M A D E E A SY
Fast money: Banks making it easier to split the tab
ASSOCIATED PRESS
NEW YORK, MAY 28
Splitting the bill for those pizzas
you shared with your buddies or
that utility bill that is suddenly
due is going to get easier and faster even if you don’t all use the
same bank.
JPMorgan Chase, Wells Fargo
and other big banks are upgrading their online payment services
to let customers make instant
transfers of money to others who
bank elsewhere, often at no cost.
The move comes as traditional
banks face pressure from payment companies like Venmo and
Square Cash that offer ways to
split the bill.
Banks developed online services that allow their customers to
send money to anyone with a
phone number or email address
several years ago. But the services were considered overly complicated. Until last year, bank customers could only send money to
another customer the same bank.
The only option bank customers
often had to send money instantly to another person was a wire
transfer, which can cost upward
of $30 at a branch, or to use a service like Western Union, which
also charges a fee.
When the option to send
money to person at a different
bank became available, the service would take upward of three
days to complete. Silicon Valley
startups Venmo and Square Cash,
on the other hand, promised person-to-person transfers that were
open to anyone with a debit card
and would be completed in as little as one business day.
The banks don’t want to lose
more customers and are trying to
top Silicon Valley. “This is what
our customers have been asking
for,” said Jason Alexander, head
of digital platforms for Chase, in
an interview.
Chase, the nation’s largest
bank by assets and the largest
bank operator of person-to-person payment services, is rolling
out its upgrade to Chase
QuickPay next month. Wells
Fargo is launching its service in
July. Bank of America customers
have had the ability since March,
but only between them and US
Bank -- they were the only two
with the necessary software
upgrades at the time. Capital One
plans to roll out real-time transfers later this year, a spokeswoman said.
The instant payments between
these big banks come with a limitation: the instant payments will
only occur between banks on the
same network, called clearXchange. The network includes
Chase, Wells Fargo, BofA and US
Bank, as well as Capital One and
Colorado-based FirstBank. That
network represents 60 percent of
all US mobile banking customers,
according to a Chase spokesman.
ClearXchange is expected to
grow in the coming years, said
Gareth Gaston with US Bank.
“It’s about connecting all the
banks together to make our customers’ lives a little simpler,”
Gaston said.
Acceptance of mobile payments has accelerated in recent
years. About 46 percent of US
consumers have made a mobile
payment, according to a study by
The Pew Charitable Trusts
released this week, with most of
those users being millennials or
members of Generation X. “It
will take some time for customers
to adopt this, but we want to be
there and be ready when our customers are ready,” Gaston said.
Users of Venmo sent $1 billion
in payments in the month of
January this year, up from $100
million in the same month in
2014. In comparison, Chase customers now send $20 billion a
year using QuickPay. Wells Fargo
customers send $10 billion over
its service SurePay.
Mobile payments, particularly
when people are splitting a bill,
reached a level where Venmo
users are using the pizza emoji
every 20 seconds when sending
money to each other. “Whether
they use Venmo, or use a bank,
this growth wraps around the
same issue: the awkwardness of
cash and how it’s going away,”
said to Anuj Nayar, PayPal’s
director of global initiatives.
The banks in the clearXchange
network are not charging a fee
for the instant transfer of funds,
with the exception of US Bank,
which will charge a fee up to
$6.95 for instant delivery. Venmo
and Square Cash are for the most
part free as well, although there
is sometimes a fee of up to 3 percent on Venmo transfers where
the customer uses a credit card.
C M Y K
III
money
news digest
world
the kathmandu post | Sunday, May 29, 2016
bike festival
Adidas sells US
apparel firm
NEW YORK: Adidas said it
had agreed to sell US
sportswear seller
Mitchell & Ness, resulting in a one-time gain in
a the low to medium double-digit million euro
range. The German
group said in a statement
on Friday it would re-invest the proceeds of the
sale into its “Creating
the New” strategy.
“Nostalgia headwear and
apparel is not core to this
strategy and the sale of
Mitchell & Ness will
allow us to reduce complexity and pursue our
target consumer more
aggressively with our
core brands,” Adidas
said in a statement on
Friday. The buyer is a
newly formed entity primarily owned by US private equity firm
Juggernaut Capital
Partners. (REUTERS)
Citigroup to pay
$425 million
NEW YORK: Citigroup Inc
has agreed to pay $425
million to resolve civil
charges that it tried to
manipulate interest rate
benchmarks. In announcing the settlement on
Wednesday, the
Commodities Futures
Trading Commission
said Citigroup affiliates
also made false reports
in connection with
ISDAFIX benchmark
rates and dollar Libor
rates during the financial crisis to protect its
reputation. The CFTC
accused Citigroup of trying to manipulate the
benchmarks by certain
traders putting in false
data to benefit their own
trading positions. The
various actions occurred
between 2007 and 2012.
With the Citigroup settlement, the CFTC said it
has imposed more than
$5 billion in penalties in
17 actions against banks
and brokers for manipulating benchmarks for
interest rates and foreign
exchange. The settlement
is the latest in a series of
ongoing international
probes of global banks.
Citi’s settlement sum is
sizeable compared to other recent CFTC enforcement actions. (REUTERS)
Snapchat raises
$1.81 billion
SAN FRANCISCO: Messaging app Snapchat has
raised $1.81 billion in
funding, the company
reported in a U.S. regulatory filing on Thursday, a
sign that investor interest is strong despite concerns among some venture capitalists that the
platform is struggling to
attract advertisers.
Venture capital
database PitchBook
estimated the company’s
valuation after the
financing at $17.81 billion, up from $16 billion
at it most recent financing in February. The
company, which makes
a free mobile app
that allows users to
send videos, photos
and messages that vanish in seconds, did not
respond to emailed questions about the financing. Snapchat, headquartered in Venice,
California, has faced concerns from big investors
familiar with the company that its estimated valuation is not justified
because of an uneven
revenue stream. (REUTERS)
n A customised
bike is displayed during the opening of the first South Africa Bike Festival at Kyalami, north of Johannesburg, South Africa, on Friday. Over 20,000 visitors are expected to participate in the dozens of activities including bike stunt shows,
design competitions, displays, markets and new model presentations in the following three days. Xinhua
Fed boss: Rate
How four words rewrote
hike likely in
Bayer-Monsanto deal script coming months
REUTERS
NEW YORK, MAY 28
“There is nothing there.”
Monsanto Co President Brett
Begemann uttered those
words last week to a small
group of investors and a
Reuters
reporter
when
asked how the world’s
largest seed company he helps
lead might fit with German
drugs and crop chemicals
group Bayer AG.
Those four words, said on
the sidelines of a New York
conference, set off a series of
events leading to the disclosure of Bayer’s confidential,
$62 billion bid for Monsanto,
the largest all-cash corporate
takeover offer on record.
Bayer had sent a confidential acquisition proposal to
Monsanto on May 10. Media
reports surfaced two days
later that Bayer was considering a bid.
Initially, neither company
would comment on whether
any talks were taking place —
a common practice for many
corporations that prefer to
negotiate deals in private and
only tell Wall Street if they
manage to come to terms.
But Begemann appeared to
go a step further than simply
declining to comment at the
May 18 conference. Monsanto’s securities lawyer was
concerned that his reply could
be interpreted as a denial that
any talks were going on,
according to a person with
knowledge of the situation.
The US Securities and
Exchange Commission has
strict disclosure rules to protect investors from being misled by companies. To avoid
triggering SEC scrutiny,
according to the source,
Monsanto issued a statement
a few hours after Begemann’s
REUTERS
CAMBRIDGE, MAY 28
comment to acknowledge that
Bayer had approached the
company about a possible
takeover.
Bayer soon followed with
its own statement. The negotiations have since been subject
to intense investor scrutiny
that has weighed on Bayer’s
deliberations
over
how
much it can pay, according to
sources with knowledge of
the talks.
Monsanto and Bayer also
declined to comment, and
Monsanto did not make
Begemann available for comment. His remark was characterized by sources close to
Monsanto as an “honest
mistake.”
Begemann came “close to a
violation but probably not
enough” for the SEC to bring a
case, because his answer was
open to interpretation, said
Peter Henning, a law professor at Wayne State University
in Michigan. Begemann’s
statement could be interpreted to mean that Monsanto and
Bayer had not come to a definitive agreement, Henning
added.
Bayer shares, which fell
modestly after the initial
On Tuesday, Monsanto
rejected Bayer’s offer but
agreed to hold further talks
with Bayer to see if they
can agree on better terms
media reports, dropped as
much as 10 percent the day
after the company confirmed
the takeover approach, as
investors fretted over the
impact of such an acquisition
on its strategy and balance
sheet. Some of Bayer shareholders spoke out against
doing a deal.
To address those investor
concerns, Bayer on Monday
unveiled the terms: it had
offered $62 billion in cash for
Monsanto, and it would
finance 25 percent of the bid
primarily through a rights
offering that would dilute
existing shareholders.
Before Monsanto publicly
responded, Bayer embarked
on a highly unusual investor
charm offensive, launching a
website and holding presentations. Chief Executive Werner
Baumann also gave several
media interviews.
“Because of the Monsanto
President’s remark, Bayer’s
CEO now has to fight a battle
on two fronts, negotiating a
deal with Monsanto while also
trying to keep his shareholders onboard,” said Erik
Gordon, a professor at the
University of Michigan’s Ross
School of Business. “It can be
an easier pitch to investors
when they know they can no
longer influence negotiations,
and a deal is presented as fait
accompli,” he said.
On Tuesday, Monsanto
rejected Bayer’s offer but
agreed to hold further talks
with Bayer to see if they can
agree on better terms. The
two companies will now try to
carry out negotiations privately, without making further statements until there is
an outcome, according to the
sources.
Though the negotiations
continued after Begemann’s
comments, some sources close
to Bayer said the company felt
more restricted on how much
more money it can offer
Monsanto, given the investor
feedback it received. By
Friday, Bayer shares ended
down 11 percent from where
they were before Monsanto
disclosed the approach.
To be sure, overcoming
such challenges is possible.
“Sophisticated
investors
understand that deal premiums need to be evaluated”
against the stock price before
news of negotiations break,
said Steven Scheinfeld, global
chair of the corporate department of law firm Fried,
Frank, Harris, Shriver &
Jacobson LLP in New York.
Even transactions that have
become public often get to the
finish line, he added.
The fact that Monsanto’s
shares were trading at around
$110 — significantly below
Bayer’s $122 offer price due to
uncertainty about the deal —
is in Bayer’s favour. Monsanto
shares were at $97 before
Bayer disclosed its offer.
Some Bayer shareholders
have been positive about the
deal. For example, Royal
London Asset Management
said that the German c
ompany’s bid for Monsanto
made sense strategically,
and that, as a shareholder,
it would support a deal
if it was priced at around $130$135 per share.
The Federal Reserve should
raise interest rates “in the
coming months” if the economy picks up as expected and
jobs continue to be generated,
US central bank chief Janet
Yellen said on Friday, bolstering the case for a rate increase
in June or July.
“It’s appropriate ... for the
Fed to gradually and cautiously increase our overnight
interest rate over time, and
probably in the coming
months such a move would be
appropriate,” Yellen said during an appearance at Harvard
University.
Her comments, while balanced, suggested the powerful
Fed chair is on board with
several of her colleagues who
in recent weeks have said the
central bank is preparing to
follow up on an initial policy
tightening in December.
Although Yellen expressed
caution about too steep a rise
in US rates, she sounded more
confident than she has in the
past that the US economy has
rebounded from a weak winter and that inflation would
edge higher toward the Fed’s 2
percent target.
“The economy is continuing to improve ... growth looks
to be picking up,” Yellen told a
group of professors and alumni at the Ivy League college in
Cambridge, Massachusetts.
She expects the labor market to continue to improve
progress
despite
much
because “further gains are
possible,” she said under an
open-air tent on campus.
Prices for US Treasuries
fell after Yellen’s remarks,
while stocks rose. The US dol-
n Janet Yellen
lar .DXY was trading higher
against a basket of currencies. The probability of a rate
hike at the Federal Open
Market Committee’s June
14-15 meeting rose to 34 percent from 30 percent before
Yellen’s remarks, according to
CME Group, where the futures
contracts are traded.
Bets on a rate increase at
the July 26-27 policy meeting
edged up to 60 percent, more
than double the estimate from
a month ago.
The Fed raised its key
benchmark interest rate in
December for the first time
in nearly a decade, but
has held off since then due
to concerns earlier this year
about a global economic slowdown and financial market
volatility.
Those concerns have subsided somewhat in recent
months. In recent weeks, several Fed policymakers have
reacted to stronger US economic data including on housing and retail sales by putting
a rate hike squarely on the
table for either June or July.
Earlier on Friday, the
government revised higher
its first-quarter GDP growth
estimate to 0.8 percent, from
0.5 percent.
U p b e at d ata
US economy showing signs of life after slow start to year
Associated Press
WASHINGTON, MAY 28
The US economy is showing signs
of more life after a less-than-stellar start to the year. The government said Friday that first-quarter growth, while disappointing,
wasn’t as bad as first thought.
And a number of more recent
indicators are showing decent
gains in key areas like consumer
spending and housing.
All the signs point to an economy that has probably doubled its
momentum this quarter.
But faster growth also raises
the prospect that the Federal
Reserve will want to nudge interest rates higher.
Fed Chair Janet Yellen said
exactly that at an appearance
Friday at Harvard University. She
noted that after weak growth in
the fourth quarter of last year
and the first three months of this
year, it “looks to be picking up
from the various data that we
monitor”.
She said if the growth continues and the labour market keeps
improving, then “probably in the
coming months, such a move
(rate hike) would be appropriate”.
Yellen, who stressed that the
Fed’s plan is to raise rates “gradually and cautiously,” did not
specify when exactly a rate hike
might occur. But many economists believe it could come as
soon as the Fed’s next meeting on
June 14-15.
Expectations of a possible
June hike have been climbing
since the central bank surprised
investors last week with the
release of the minutes of the
April meeting. The minutes
showed that Fed officials were
prepared to raise rates at the
June meeting if the economy
kept improving.
The Fed boosted rates by a
quarter-point in December after
leaving them at a record low near
zero for seven years. At the time,
it indicated that four more rate
hikes could occur this year.
But it has so far put further
increases on hold in the wake of
financial market turbulence in
January and February triggered
by unexpected weakness in the
global economy.
Yellen’s remarks Friday came
after the Commerce Department
reported that the gross domestic
product, the broadest measure of
economic output, grew at an
annual rate of 0.8 percent in the
first quarter. That was slightly
better than the initial estimate of
0.5 percent but still marked the
second straight quarter in which
growth has slowed. The GDP
increased at a modest 1.4 percent
rate in the fourth quarter.
Economists, however, are forecasting a rebound. Based on
recent better-than-expected
reports, they have been revising
their second-quarter growth estimates higher, up from less than 2
percent to around 2.5 percent.
After the new GDP report, some
economists said growth could hit
3 percent in the current quarter.
The optimism stems from
hopes that strong employment
gains will boost household
incomes and fuel consumer
spending, which accounts for 70
percent of economic activity.
For the first quarter, consumer
spending grew at a rate of 1.9 percent, the weakest showing in a
year. But recent strength in retail
sales, points to a second quarter
rebound. And a separate report
Friday showed that the
University of Michigan’s consumer sentiment survey rose to
94.7 in May, the highest level in
nearly a year.
The revision in the GDP report
came from slightly less economic
drag from the trade deficit and a
less severe slowdown in inventory growth, as well as stronger
gains in housing that initially
reported a month ago.
Business investment remained
weak with investment in structures falling at a rate of 8.9 percent, slightly less than the 10.6
percent plunge that was first
reported. This category has suffered because of sharp cutbacks
in drilling and exploration by
energy companies.
While business investment
remained weak, investment in
residential construction was
growing at a sizzling 17.1 percent
rate, the strongest advance in
more than three years. The US
economic expansion will celebrate its seventh birthday next
month, making it the fourth longest recovery since World War II.
But it has also been the slowest,
averaging modest annual growth
of 2.1 percent.
Financial markets went into a
nosedive at the beginning of the
year, dragged down by worries
about global growth and a sharp
slowdown in China, the world’s
second largest economy.
Since then, markets have
recovered all their early-year
losses. Many economists believe
that the Fed’s decision on whether to raise rates in June will
hinge largely on how the labour
market performs in May.
A report on May employment
comes out on June 3.
C M Y K
money IV
stock
Sunday, May 29, 2016 | thekathmandupost
Nepse ends week 15.7 points higher
POST REPORT
KATHMANDU, MAY 28
TOP FIVE COMPANIES IN TERMS OF TURNOVER
NEPSE Index
Nepal Stock Exchange (Nepse) last
week jumped 15.70 points to close at
1525.09 points.
The market that opened at 1509.39
points on Sunday posted gains for the
following two days before losing 20.41
points on Wednesday.
The benchmark index gained 0.97
points on Thursday. The week’s largest
single-day gain came on Tuesday when
the index rose 20.46 points.
Stockbrokers attributed the rise to
the upcoming budget presentation
and excess liquidity with the banking
system.
Dharma Raj Sapkota, managing
director of Swornalaxmi Securities,
hopes that the budget would introduce
policies to strengthen the stock market
boosted investor confidence.
Of the nine trading groups, five posted gains. The insurance sector (up
225.96 points) was the top gainer,
followed by development banks,
hydropower, commercial banks and
finance companies.
1,544.53
1,524.07
TOKYO/SINGAPORE, May 28
Asian stocks pulled ahead on Friday
after US data continued to cast the
economy in a positive light, while
the dollar was on the defensive
against major peers.
Europe is set to follow suit, with
financial spreadbetter IG expecting
Britain’s FTSE 100 to open up 0.05 percent, and Germany’s DAX to start the
day 0.3 percent higher. MSCI’s broadest
index of Asia-Pacific shares outside
Japan extended gains to 0.7 percent to a
three-week high. The index was on
track to rise 2.7 percent this week.
Japan’s Nikkei 225 closed up 0.4 percent,
buoyed by prospects of Tokyo delaying
a sales tax hike, helping to extend gains
for the week to 1.5 percent.
China’s CSI300 and Shanghai
Composite indices both erased earlier
losses to trade little changed, as the
market digested April industrial profits
data. The former is set for a weekly
decline of 0.4 percent and the latter is
headed for a flat finish.
While profit growth across industrial
firms slowed in April from March, oil
refiners’ profits rose more than 80-fold
in the January-April period from a year
earlier, and steel mills saw a 42 percent
gain. The Hong Kong Hang Seng index
1,525.09
1,524.12
1,509.39
May 22
May 23
May 24
May 25
The insurance sector (up 225.96 points) was the top
gainer, followed by development banks, hydropower,
commercial banks and finance companies
Hotels (down by 55.86 points) was the
biggest loser. It was followed by manufacturing and others. The trading group
was stable at 201.38 points.
The sensitive index that measures the
performance of ‘A’ class companies was
up 3.35 points to close at 329.98 points.
The overall market transaction rose
Asia stocks up after US data
REUTERS
MSCI’s broadest index of
Asia-Pacific shares outside
Japan extended gains to
0.7 percent to a three-week high
staged a strong turnaround with a 0.8
percent rise, setting it up for a jump of
2.9 percent for the week.
The Dow Jones Industrial Average
inched down 0.1 percent and the S&P
500 ended flat overnight after rising
strongly for two days as advancing utilities offset declines in materials, banks
and other cyclical industries.
US data on Thursday showed
durable goods orders, pending
home sales and initial jobless claims
coming in strong, while capital goods
orders and the Kansas City Fed manufacturing survey were weak.
“The markets have been attentive to
clues on US economic conditions.
Positive data will signal that conditions
may be ripe for a rate hike as soon as in
the June Federal Open Market
Committee (meeting),” said Bernard
Aw, market analyst at IG in Singapore.
“Market participants will be hyper-sensitive to US data, with next week’s inflation data and employment data to be
scrutinised,” he said.
The dollar held steady at 109.70 yen
after losing 0.4 percent overnight.
It is on track for a 0.4 percent fall
for the week. The euro trod water
at $1.1197 following Thursday’s
0.3 percent gain, but is set for a weekly
loss of 0.2 percent.
The dollar index was nearly flat at
95.136 after slipping 0.3 percent overnight, pulling away from a two-month
high of 95.661 scaled on Wednesday. It’s
poised for a 0.2 percent loss for the
week, but up 2.2 percent this month.
The greenback had rallied earlier in
the week on growing expectations the
Federal Reserve will raise interest rates
as soon as June or July, supported by a
series of comments from Fed officials
seemingly backing such a move.
The financial markets are now looking to the revisions of US first quarter
GDP data and comments from Fed Chair
Janet Yellen at a Harvard Universitysponsored event later on Friday.
“Given the uniformity of comments
from policymakers, we don’t think
Yellen will throw cold water on rate
hike expectations and could in fact reinforce them,” wrote Kathy Lien, managing director of FX strategy at BK Asset
Management. “Economists are also
looking for first quarter GDP growth to
be revised higher so today’s pullback in
the dollar should be temporary.”
job hunt
May 26
66.75 percent to Rs7.14 billion, while the
number of shares traded increased to
14,670,390 from 6,961,570 units.
Nepal Bangladesh Bank posted the
highest transaction of Rs425.59 million.
Nepal Life Insurance, Shikhar
Insurance,
Himalayan
General
Insurance and Nepal Bank rounded out
the top five.
Meanwhile, Nepse listed bonus
Companies
REUTERS
Sector
Insurance companies
Development banks
Hydropower companies
Commercial banks
Finance companies
Points Gained
225.96
59.44
17.65
5.28
4.9
SECTORS THAT WENT DOWN
Sector
Points Gained
Hotels55.86
Manufacturing30.89
Others10.57
shares of NLG Insurance, Summit
Microfinance Development Bittiya
Sanstha, Century Commercial Bank,
Nepal Credit & Commerce Bank, Nepal
SBI Bank and Mega Bank.
Agendas
Venue
Date
Sahara Bikas Bank
35% Bonus share to its shareJanaki Family Hotel & Loudge,
holders, Election of BOD,
June 4
Malanga-10, Sarlahi
Conversion of Sha res
Professional Diyalo Bikas
Bank
9.25% Bonus share to its
shareholders, Merger or
Acquisition
Araniko Party Palace, Banepa,
Kavre
Standard Chartered Bank
25% Bonus Share and 19.21%
Cash Dividend
Army Officers Club, Bhadrakali,
June 3
Kathmandu
Reliance Lotus Finance
Acquisition with Narayani
National Finance Limited
Sunrise Bank
Bank of Kathmandu
Nyadi Hydropower
Amritbhog Caters, Kalikasthan,
June 2
Dillibazar, Kathmandu
26% Bonus Share and 1.36%
Cash Dividend, Merger with
Lumbini Bank Limited
Nepal Academy, Kamaladi,
Kathmandu
Increment of Capital
Company Register Office,
Buddhanagar, Baneshwor,
Kathmandu
May 30
May 29
Global cues, results,
rains boost India mkts
Positive global cues, combined with a
fresh influx of foreign funds and healthy
fourth quarter results, catapulted the
Indian equity markets to their highest
weekly close in the last three months.
Further, expectations of above-average monsoon rains, a rise in global
crude oil and high-grade copper prices
unleashed a relentless buying spree.
These led both the key indices to their
new six-month intra-day highs during
the just concluded week.
Consequently, the wider 51-scrip
Nifty of the National Stock Exchange
(NSE) rose by 406.95 points or 5.25 percent to 8,156.65 points.
Similarly, the barometer 30-scrip sensitive index (Sensex) of the BSE surged
by a massive 1,351.7 points or 5.34 percent to 26,653.60 points.
On a weekly basis, the bank index
rose 6.46 percent, followed by FMCG and
IT indices, which gained 5.5 percent and
3.26 percent. However, broad-based markets under-performed the headline indices. The mid-cap and small-cap indices
gained only two percent and 1.5 percent.
Positive global cues such as recent
data points from Germany and the US,
which indicated accelerated levels of
economic growth, lent a major fillip to
the domestic markets. The rise in US
home sales data provided investors with
hope of a continued recovery in the
world’s largest economy, even after a
speculated interest rate hike in June.
Besides, European markets surged
after Greece agreed to a deal to unlock a
further 10.3 billion euro worth of loans
from its international creditors.
“Bulls reclaimed gains on the Dalal
Street; as the upbeat global environment gave traders a reason to cover
their short positions,” Dhruv Desai,
director and chief operating officer of
Tradebulls, told IANS.
“Markets, after a strong start, witnessed a pick-up in buying activity in
recently beaten down stocks. foreign
institutional investors (FIIs) turned positive for the week.”
The upswing in global sentiment also
allowed for a fresh influx of foreign
funds. The stock exchanges data disclosed that FIIs bought Rs.675.13 crore
worth of stocks during the week under
review, shild domestic institutional
investors (DIIs) purchased scrips worth
Rs.1,914.11 crore.
Even a rise in global crude oil prices
cheered investors. The Brent indexbased crude prices surpassed the $50
mark for the first time this year.
wa l l st r e e t w e e k a h e a d
Fed reaction to data barrage is focus for stocks
REUTERS
NEW YORK, MAY 28
Data on inflation and employment, two of the economic indicators most important to a
“data-dependent” US Federal
Reserve are expected next week.
While Fed policymakers
will be looking at those numbers as they decide whether to
raise key interest rates as soon
as June, traders will read
through them to try and get
ahead of the Fed decision.
For most of the current bull
market, stocks have sold off on
expectations of tighter monetary policy. But they rose sharply over the past week as Fedspeak turned more hawkish.
The Fed has remained constant in using economic data to
decide whether to raise the Fed
funds rate. On Friday, Fed Chair
Janet Yellen said that if current
economic conditions hold, a rate
hike over the next few months
would be “appropriate”.
However, stocks have not yet
priced in a rate hike in June or
even July, according to analysts
at Bank of America/Merrill
Lynch. “The vast majority of
‘hawkish’ industries (which
have outperformed when rate
hikes have been pulled forward
by the market) are still cheap,
while most ‘dovish’ industries
(which have outperformed
when rate hikes have been
pushed out) are still expensive,”
the bank’s analysts said in a
Friday note.
They list consumer finance,
banks and insurance among
industries that appear cheap
while beverages, real estate
investment trusts and electric
utilities still rank as expensive
even though they benefit from
policy the Fed seems to be walking away from. Financials led
the way on the S&P 500 on
Friday. If next week’s data continues to point to a hike from
the Fed, banks will likely continue to outperform, as higher
interest rates mean increased
returns for lending, the core of
their business.
Shares in the utilities sector
were the laggard of the week
and could continue to be if
investors see a hawkish slant at
the Fed. With a dividend yield
of 3.5 percent, the sector is
mostly favoured when rates are
expected to remain lower for
longer. The Fed’s favourite inflation gauge, personal consumption expenditures, is due on
Tuesday and is expected to show
a 0.2 percent monthly increase
for April. Non-farm payrolls
data due on Friday is expected
to show the US economy created
164,000 jobs in May.
Besides the big inflation and
jobs data, the Fed will get its
own numbers out, with the
Beige Book of anecdotal information of current economic
conditions out Wednesday.
Though the probability of all
data pointing in the same direction is small, a chance of an
increase in the manufacturing
work-week numbers in the payrolls report, a broad build-up of
wage pressure in the Beige
Book and a strong reading in
the new orders component of
the private-sector ISM manufacturing data out Wednesday are
key to determining the Fed’s
next move, according to Brian
Jacobsen, chief portfolio strate-
gist at Wells Fargo Asset
Management in Menomonee
Falls, Wisconsin. “Those three
things could line up to make (a
rate hike in)June a real possibility,” he said. Wall Street rose on
Friday and capped off its strongest week since March after US
Federal Reserve Chair Janet
Yellen said an interest-rate hike
would likely be appropriate “in
the coming months”.
Yellen’s is the most important
voice in a chorus of policymakers recently suggesting that the
US economy has improved
enough to warrant tighter borrowing costs, with a growing
number of investors now
expecting a hike in June or July.
While higher interest rates
choke liquidity in stock markets, many investors see a
potential rate hike as a vote of
confidence that the struggling
US economy is finding its legs.
“As we look at our place in the
global economy, things just
seem to be improving to a point
where it certainly looks likely
that June or July will be the
RETAIL PRICE
VegetablesUnit Price (Rs)
Red Potato
Kg
Rs 55
White Potato
Kg
Rs 45
Onion(Indian)
Kg
Rs 35
Tomato Small
Kg
Rs 65
Carrot
Kg
Rs 65
Tomato Big
Kg
Rs55
Squash
Kg
Rs 55
Cabbage
Kg
Rs 35
Brinjal Long
Kg
Rs 45
Fruits Unit
Price (Rs)
Apple
Kg
Rs 115
Pomegranate
Kg
Rs 215
Water Melon
Kg
Rs 28
Sweet Orange
Kg
Rs 165
Mango
Kg
Rs 125
Pineapple
1 Pc
Rs 115
CucumberKg
Rs65
Papaya
Kg
Rs 83
Banana
Doz
Rs 105
100 Pcs
Rs 475
Lime
daily commodities
June 4
1.05% Cash Dividend and 20%
Bonus Share to its
Trade Tower Nepal, Thapathali,
June 3
Shareholders, Increment of
Kathmandu
Capital
Mumbai, May 28
Job seekers with physical disabilities fill in application forms at an employment fair in Taipei, Taiwan, on Saturday. SECTORS THAT WENT UP
Upcoming AGMs
Indo-Asian News Service
n
Company
Turnover (in Rs. millions)
Nepal Bangladesh Bank
425.59
Nepal Life Insurance
274.78
Shikhar Life Insurance
250.24
Himalayan General Insurance 246.21
Nepal Bank Limited
237.36
market watch
next launching point,” said Paul
Springmeyer, portfolio manager
at the Private Client Reserve of
US Bank. “With the increased
strength, we should get up off
of those historically low levels
where we are.”
After Yellen’s speech, traders
raised their expectations of a
June rate hike to 34 percent
from 30 percent, according to
CME Group. The Fed next meets
on June 14-15. Data on Friday
showed US economic growth
slowed in the first quarter,
although not as sharply as initially thought. All of the 10
major S&P sectors rose, with
the telecom and financial indexes leading the gainers.
The Dow Jones industrial
average .DJI climbed 0.25 percent to end at 17,873.22 points
and the S&P 500 gained 0.43 percent to 2,099.06. The Nasdaq
Composite added 0.65 percent
to 4,933.51. For the week, the
S&P 500 rose 2.3 percent and the
Dow added 2.1 percent, the best
weekly performance for both
since March.
Commodities Unit
Price (Rs)
Pokhereli Rice
Kg
Rs 65
Jeera Masino Rice
Kg
Rs70
Indian Basmati Rice Kg
Rs 100
Mansuli
Kg
Rs 55
Sona Rice
Kg
Rs 45
Beaten Rice (Taichin) Kg
Rs 120
Beaten Rice Kg
Rs 50
Big Mas
Kg
Rs 270
Small Mas
Kg
Rs 250
Big Mung
Kg
Rs 220
Musuro(No 1)
Kg
Rs 170
Musuro (No 2)
Kg
Rs 160
Rahar
Kg
Rs 240
Chana (Big)
Kg
Rs 150
Chana (Small)
Kg
Rs 140
Chilli Powder
Kg
Rs 350
gasoline watch
bullion
Price Per tola
Hallmark Gold
Rs 54400
Tejabi Gold
Rs 54150
Silver
Rs750
Source: FENEGOSIDA
Int’l market
EnergyPrice (US$)%Change
Brent Crude Futr (Bbl)
Gas Oil Fut (Ice) (Mt)
Gasoline Rbob Fut (Gal)
Natural Gas Futr (Mmbtu)
48.97
443
160.6
2.14
-1.03
-1.28
-0.83
-0.37
AgriculturePrice (US$)%Change
Cocoa Future (Mt)
Coffee ‘C’ Future (Lb)
Corn Future (Bu)
Cotton No. 2 Futr (Lb)
Rough Rice (Cbot) (Cwt)
Soybean Future (Bu)
Soybean Meal Futr (T)
Soybean Oil Futr (Lb)
Sugar #11 (World) (Lb)
Wheat Future (Cbt) (Bu)
Industrial Metals
Copper Future (Lb)
2,946.00
121.45
408.5
64.2
11.03
1,082
408.7
31.24
17.39
479.5
1.03
-0.04
0.06
-0.20
-0.27
0.21
-0.22
-0.64
-0.17
-0.36
Price (US$)%Change
211.85
0.76
Precious Metals
Price (US$)%Change
Gold 100 Oz Futr (T Oz)
Silver Future (T Oz)
1,218.70
16.3
-0.14
-0.26
C M Y K

Bloated budget raises inflation fear - Epaper

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