Banking, like every other sector of the economy, operates on the principle of demand and supply. When the market is flush with money, the demand for it is low, which is reflected in the low interest rates that banks offer against the deposits, both personal and institutional, they mobilize. Nepali banks, swimming in remittance money, have been offering ultra-low interest rates to their depositors.
The only way to evaluate the seriousness of our political class to implement the new constitution is to see if their actions so far have been in line with the constitution. In this they have failed miserably. The new constitution capped the number of ministers in the cabinet at 25. Both the governments formed after the promulgation of the constitution on September 20th, 2015 violated this provision.
Twenty-four-year-old Deepa Rai (Limbu) of Arun Tole, Dharan is trapped in Oman. She wasn’t meant to be there. The traffickers who had lured her with a lucrative job offer had promised to take her to Saudi Arabia instead. Once in Oman, she became a virtual slave, forced to work from five in the morning to midnight. The family that employs Deepa also subjects her to repeated abuse, both verbal and physical.
Some kinds of cancers are incurable. A few others can’t be treated in Nepal. But prostate cancer, the kind former President Ram Baran Yadav has been diagnosed with, is not one of them. Almost 50 percent of men above 50 have some form of prostate cancer. While that may sound scary, knowing about the high survival rate can be a great source of comfort.
The International Day of the Victims of Enforced Disappearances, marked on August 30th every year, is perhaps the right time to remember all those Nepali citizens who ‘disappeared’ during the decade-long Maoist war.
Nepali people take their high-ranking politicians so slightly because there is often a huge gulf between their lofty words and puny actions. During his nine months in office, former Prime Minister KP Sharma Oli, in order to burnish his nationalist credentials, repeatedly invoked the greatness of our ancestors and the indomitable spirit of Nepali people
Nepali Congress, CPN-UML and (now) CPN (Maoist Center) emerged as the first, second and third largest parties, respectively, in the second Constituent Assembly elections in 2013. There were also the three main forces behind the new constitution that was promulgated on September 20th, 2015. It was after intense deliberations that the three parties had agreed to cap the size of Nepali cabinet to 25 in the new constitution.
If the Cabinet approves the fourth amendment of the Electricity Regulations Act (1993), it will signal a sea-change in hydropower development in Nepal. If the act is approved, hydropower producers interested in projects of up to 100 MW will no longer be required to get the go ahead of the Ministry of Energy to carry out survey, build power plants and generate electricity.
The vastly different views on local elections coming from different political parties are providing more heat than light in this important debate. There appears to have been no serious homework on which these parties have based their views.
The long queues in front of the petrol pumps witnessed in the last few days have been reminiscent of the four-month-long border blockade last year. Nepal Oil Corporation (NOC), the government oil monopoly, blames the ‘long weekend’ for the new panic as three consecutive days of holiday meant that the Nepali oil depots that receive imports from India were closed.