The agreement was signed by Mr. Aasis Gauchan, Managing Director of Prabhu Capital, and Mr. Sushil Pokhrel, Founder of Bizbell Ltd., in the presence of Mr. Kaji Lama, Chairman of Hydro Empire Pvt. Ltd., and Mr. Durga Nand Jha, Chief Investment Officer of Prabhu Capital Ltd.

Under this agreement, Prabhu Capital will provide a comprehensive suite of advisory services to Bizbell Ltd., including Pre-IPO and IPO-related services. These services will cover critical areas such as capital structure and pricing planning, pre-IPO equity raising, marketability, IPO preparedness, and issue management, ensuring Bizbell Ltd. is thoroughly prepared for the IPO process.

Bizbell Ltd., founded in 2014, is a dynamic player in the clean energy sector with a strong focus on renewable energy. The company has a robust portfolio of 1000 MW in renewable energy projects and is known for its commitment to generating impact-based returns on investment. As a responsible investor, Bizbell is actively involved in driving sustainable change and contributing to the community by developing hydropower projects in remote regions of Nepal.

Prabhu Capital Ltd., established as a leading merchant bank, has been at the forefront of providing investment banking services in Nepal. The company’s corporate advisory services include business planning, market assessments and feasibility studies, equity raising, and loan syndications to support the growth of businesses across various sectors.

This collaboration marks an important step in the growth trajectory of both organizations, with Prabhu Capital’s expertise in IPO advisory playing a vital role in Bizbell’s future success.

SAARC countries have established a number of institutional frameworks to promote regional economic integration over the last three decades. However, the share of intraregional trade in the total trade of the South Asian countries is stagnating at 5% only, less than one third of its potential. One of the major impediments in unleashing the true potential of the region is lack of an integrated transport and people to people connectivity.

Connectivity links both places and people by creating the physical infrastructure necessary for the flow of goods, labour and information. Connectivity is the cornerstone of regional economic integration, shaping regional production networks and trade patterns through its impact on competitiveness. Connectivity has psychological implications and extends beyond people’s mental boundaries. Improving people-to-people connectivity and removing physical and mental borders could lead to meaningful cooperation.

Chandiraj Dhakal

Cross-border transportation facilitation is still lacking despite improvements in transportation infrastructure and services in all South Asian countries at different paces. Regardless of their size, member nations of SAARC could benefit greatly from improving transport connectivity. For instance, Nepal has the potential to see GDP gains of up to 14%.

Costs of trading within South Asia remain high at 114% of the value of the goods being exported, making trading with neighboring nations more expensive or less competitive, compared to trading with distant partners and discourages the formation of regional value chains despite the geographic contiguity. Poorly developed land transportation infrastructure is a key reason behind high trade costs which is further exacerbated by strict visa regimes and non-existence of air connectivity within the region.

Even though South Asia is blessed with a long coastline and access to international shipping routes, the region’s overall trade costs remain comparable to those of the landlocked countries of Central Asia, which suffer from severe transport constraints. These are indicative of the prevalent shortcomings related to both transport and trade facilitation in the region, which hurt its trade prospects.

Lack of integrated connectivity is not only restraining the economic integration of South Asian region rather restricting the people of the region to revel the socio-cultural festivities together. Despite of the fact that SAARC being home to marvels like Taj Mahal, Ajanta, Sigiriya, Timpu, and Taxila, home to the highest and the second highest mountain peaks of the world Everest and K2 and with an unmatched biodiversity South Asian region has the key ingredients to delight its visitors.

The tourism potential of the region is unmatched and yet waits to be unleashed, lack of transport routes, non-existence of air connectivity and strict visa regimes not only restricts the flow of intra-regional tourist across the region rather restricts the movement of international tourists visiting the region.

Restrictive policy regimes have restrained the beneficial effects of common cultural affinity and geographical proximity, and the ‘gravitational’ pull of proximity on movement of goods and people. In 1948 the intra-regional trade of South Asia was more than 20% that has reduced to mere 5% today. Over the past seven decades only half-hearted steps have been made to restore or build transport linkages.

Due to inefficient transport infrastructure trade transactions in South Asia are high ranging between 13-15% as compared to 5-6% in the neighboring trading blocs. Similarly, air connectivity within the region has rather decreased significantly over the years. Major flights between South Asian capitals have ceased, therefore the people of South Asia have to travel to via Middle East, with exorbitant time and monetary costs.

South Asia today is most disconnected region in the world, not mere physically or in terms of infrastructure but in our commitment toward regional prosperity promised in the SAARC Charter. The Summit is due for almost a decade now, the regional committees are hardly meeting even in this digital era, the reginal recognized bodies are paralyzed and regional activities have ceased. The member states need to move SAARC from declaratory to implementation phase, and that requires political will from the political leadership of the South Asian member countries.

Regional connectivity in the region needs integrations of not only business, commerce and trade but for the people who actually move. Extensive modernization of trade and transit facilities between Afghanistan-Pakistan, Bangladesh-Nepal, India-Pakistan and Bhutan to Bangladesh are needed to be built with economic rational on the lead.

(The writer is Vice President SCCI and former President of FNCCI.)

Launched in 1964, the ITEC programme builds on India’s vast and rich network of governance and development related expertise, by offering both short and long term capacity building programmes in higher educational institutions and training facilities in India, in more than 160+ partner countries, including Nepal. It has been utilized by more than 200,000 Government officials, professionals and senior industry representatives around the world.

Speaking at the ITEC Day celebration, Ambassador of India to Nepal, Shri Naveen Srivastava stated that India’s partnership with countries are embodied through the principles of ‘Vasudhaiva Kutumbakam,’ and ‘Sabka Saath, Sabka Vikas, Sabka Vishwas and Sabka Prayas’. The 59th ITEC Day was being celebrated to recognise the strides made in India-Nepal capacity building partnership.  Conveying that in 2023-24, more than 440 slots were utilized, the highest ever for Nepal, he stated that more customized courses for administrators, railway officials, agriculturists, parliamentary officials would be offered under ITEC based on the interest of the stakeholders in Nepal.

Distinguished ITEC alumni – Justice Baidhyanath Upadhyay, Executive Director of National Judicial Academy of Nepal, Dr. Dina Mani Pokhrel, Hon’ble Attorney General of Nepal, Mr. Dinesh Ghimire, Secretary (Retd), Ministry of Energy, Water Resource & Irrigation, Mr. Rojnath Pandey, Secretary, Federal Parliamentary Secretariat, Major General Santosh Kumar Dhakal, Directorate General of Military Training participated in a panel discussion on their individual ITEC experiences. The celebration also saw an enthralling Odissi dance performance by a troupe from India led by renowned artist Ms. Kakali Bose.

Hon’ble MP Dr. Shekhar Koirala, an alumni of AIIMS, also shared his experience and views on taking forward India-Nepal Cooperation in development and education sectors.

In the year 2023-2024,  444 professionals from Nepal were trained in different courses in various prominent institutes of India. 30 Engineers of Government of Nepal are enrolled in two year M.Tech. course in streams such as Water Resource Management, Hydrology, Irrigation Water Management etc. IIT Roorkee.  Young think tanks/researchers from Nepal attended the Neighbourhood- First Fellowship Programme at St Stephen’s College, Delhi under ITEC. 21 customized courses (specially designed tailor made courses) were organized for Doctors (50); Government Attorneys (30); Department of Money Laundering Investigation (DMLI) (25); members of National Judicial Academy of Nepal (15), Nepal Police(180) and Armed Police Force (25) in 6 prominent institutes of  India in 2023-2024.

Nepal, being a close and friendly neighbour is an active partner in the ITEC initiative of the Government of India. In the past 15 years alone, more than 2,000 officials from Nepal have been trained under ITEC. These capacity building programmes form a part of India’s effort to not only support human resource development of Nepal and partner countries, but also to learn from the experiences  so as to contribute to the overall socio-economic benefit of the region.

Inflation reached about 12%. To check the figures till November, the revenue collection is negative by 20.7 percent. Due to the financial crisis, high interest rates and lack of cash in banks, businessmen have started committing suicide.

On the one hand, the industries are collapsing and the banks are also in crisis as they are unable to pay their debts. A dark cloud of crisis has begun to float over remittances, the trusted source of Nepal’s economy. Due to the global economic recession, the economic crisis is on the rise in countries where Nepalese have been working. As the companies, industries and factories of those countries have started cutting workers, there is a danger that the source of remittances will shrink.

Due to this, the entire economy is falling into a serious crisis. The parties that have been forgotten in the juxtaposition of power seem to be apathetic and apathetic towards this serious crisis, which is a tragedy. Economic quagmire There is a lack of investable funds in banks and financial institutions. Banks are unable to provide loans.

Last December, in the Annual General Meeting of Nepal Bankers Association, the Governor of Nepal Rastra Bank, Mahaprasad Adhikari, claimed that the lack of liquidity in banks has been decreasing since the beginning of the current financial year. Governor Adhikari said the interbank rate went from 8.5% to 7.07%.

He claimed that the rate of remittances is increasing due to the improvement of the financial sector, but due to the decrease in the rate of remittances due to the global economic recession, it is estimated that the lack of liquidity in banks will increase more than what he claimed. This is why the hope for a positive improvement of the financial sector is dying.

The direct impact of economic recession is not only on small and medium industries, but also on large industries. Until some time ago, the iron and rods produced in Nepal had started to be exported abroad. However, due to the government’s wrong revenue policy, these industries are now in a state of collapse.

Even the cement industries, which are the pride of Nepal, are not able to produce according to their capacity. Cement industries are forced to produce only 25 percent, which does not even raise their cost.

The market has become chaotic. The prices are increasing at an alarming rate and people’s lives have become miserable. Due to the increasing corruption in the education and health sector and black market and black money, a dark cloud has started to hang over our economy as a whole.

Where is the black money?

The government is out of money. The banks don’t have any cash. After all, who has the money? Will demonetization take place in Nepal to integrate the economy and the money hidden in the economy?

Firstly, the country’s capital is migrating abroad. The Nepalese who are abroad have taken citizenship there and have started accumulating all their capital abroad through hundi or illegal methods. Secondly, Nepal’s corrupt leaders, black marketers, gold smugglers, land mafia have hidden the illegally earned money.

According to the 20-point memorandum submitted by CPN (Unified Socialists) to the Prime Minister on the current economic crisis only on Tuesday, the informal or underground economy (black money) is 35 percent. The government has no control over this important part of the economy. Nepal’s black money has been exposed a few years ago. After it was revealed that 5 billion 38 million rupees were stored in the HSBC bank in Switzerland, the underground financial mafia of Nepal started to be revealed.

Swiss banks are considered to be the haven of black money of financial mafia around the world. When the fact that the money of corrupt leaders and businessmen of Nepal came out in the Swiss bank, approval was given to bring in direct foreign investment from British Virgin Islands and Cyprus in the name of businessman Ajeya Sumargi’s company.

Sumargi, a businessman who is considered close to the current Prime Minister Pushpa Kamal Dahal, tried to bring in more funds, but was later stopped. Money opened in a Swiss bank without approval from the National Bank is considered illegal. However, in 2013, when the fact that 13 Nepalis had accounts in the Swiss bank was revealed, there was a commotion in the financial sector. The media covered the discussion of Nepal’s well-known and top-level leaders having accounts in Swiss banks.

In 2011, WikiLeaks, which exposed confidential information, brought out the fact that black money was being stored in Swiss banks from all over the world. At the same time, WikiLeaks also pointed out that the black money of corrupt people in poor, underdeveloped and underdeveloped countries like Nepal and India is in Swiss banks.

In India, under the leadership of Anna Hazare, there was a movement to introduce the Jan Lokpal Bill on black money. The Government of India should issue a white paper. However, no Anna Hazare was born in Nepal, nor is there much discussion about black money in the media.

Many people who are involved in the communication sector ‘know’ that the big and famous media of Nepal are run by black money. Although the Nepali media does not talk much about Nepal’s black money, the data of Global Financial Integrity in 2012 revealed that 8703.94 billion capital has migrated abroad from Nepal from 2001 to 2010, and the amount of black money is about 70 percent.

This is the story of black money in foreign countries. The black money in the country is different. The fact that money earned through corruption or other illegal means is invested in gold smuggling and land transactions has already been revealed by the Asset Clearance Commission itself.

For the purpose of making black money white and evading revenue, the assets are smuggled in gold and invested in land. It has a direct impact on the country’s economy. Corruption is rampant in the country now. Administration, army, police, court, media, black market, smuggling, there is a plan to earn illegal money in every field. By protecting it, some limited people in the political field have formed a financial syndicate.

This is the story of black money in foreign countries. The black money in the country is different. The fact that money earned through corruption or other illegal means is invested in gold smuggling and land transactions has already been revealed by the Asset Clearance Commission itself.

For the purpose of making black money white and evading revenue, the assets are smuggled in gold and invested in land. It has a direct impact on the country’s economy. Corruption is rampant in the country now. Administration, army, police, court, media, black market, smuggling, there is a plan to earn illegal money in every field. By protecting it, some limited people in the political field have formed a financial syndicate.

In this way, the illegally earned money is hidden underground. A few years ago, the fact that a UML leader hid a briefcase full of notes in a water tank during a raid by the authorities revealed how illegal earnings are hidden.

How illegal earnings are hidden is shown in Hindi movie ‘Special 26’. In the movie, it is shown that the illegal money and gold are hidden and plastered under the walls, pillars, ceiling and floor of the living room. If the houses of Nepal’s corrupt leaders, gold smugglers and black marketers are to be raided in the same way, it cannot be said that billions of money will not be found. But who will do this work? Because, from leaders to corrupt mafias, there is collusion in this country.

demonetisation rumor

 In November 2016, Indian Prime Minister Narendra Modi surprised all Indians by announcing, ‘From now on, 500 and 1000 rupees are banned.’

After the circulation of notes stopped, the streets of the river, canals and square were seen where these notes were found. Those who earned legitimately put their money into the bank by opening the source, but the black money disappeared. This has made drug dealers, terrorists, traffickers and supporters illegal haram.

New notes were issued, although the people of India were troubled for some time, gradually the situation became normal. Recently, India’s Supreme Court confirmed demonetization. For some time, the debate about demonetisation has also begun in Nepal. When 30 per cent of the Nepalese economy is informal and underground, is the government not preparing for demonetization? People are curious.

The challenge is how to bring the wealth hidden in the underground and informal sector into the economic mainstream of the state. If that amount cannot be brought into the state’s financial flow, there is a danger that the country will be pushed into an economic crisis, the banks will collapse and limited financial amnesty will be given.

According to a well-placed source, the demonetization option cannot be excluded for reforms in the financial and economic sectors. However, in a country like ours where nothing is state secret, if the mafia gets to know about the upcoming budget after four months, then the announcement of demonetisation will not be a ‘top secret’ like in India.

Generally, public debt is the debt that the government has raised from internal and external sources which is a major method of government financing. The aim of external borrowing is that the fund should be utilized properly in the productive sectors so that the country’s economy boosts up with the enhancing investment, with a good position exchange rate and controlled inflation. The relationship between external debt and economic growth is long-term in nature.

Emerging developing countries like Nigeria, Brazil, and South Africa are taking a huge amount of external debt to boost their economy. Some of the countries like Srilanka are facing a debt crisis anable to pay back the debt. There was a crowding-out effect on private investment due to external borrowing by the government to make it easily available. Some of the researchers found that external debt at a high-interest rate may create a crisis in the economy. Another reason for the deadlock of the economy from the external debt is the mis-utilization of the fund and improper planning and corruption. In this context, the adverse effect of foreign debt may occur in the economy. The impact of public debt on private investment in the context of the Srilankan perspective resulted in a long-term impact. The results show there was the crowding out effect of external debt on private investment in the long run indicating that the government has spurred the fund to private sectors. One study revealed that external debt did not show a positive long-term effect on the economic growth of India. The negative impact of external borrowing on economic growth has been significantly found in Oman. However, there was a positive significant relationship between gross fixed capital and economic growth.

External debt of Nepal from the last five years shows the portion is increasing trend as it stands at 21.75 percent of GDP in the fiscal year 2020/2021. There may be the possibility of the adverse effect of foreign debts on performance.

The last five years show that the portion of external debt is increasing trend. In fiscal years 2015/16, it was 14.91 percent of National Income which was a 13.25 percent change on previous fiscal years which was Rs. 388.76 billion. The figure increased to Rs. 928 billion in fiscal years 2020/2021 which was 21.75 percent. It has been estimated that this figure will be Rs 985 billion by mid-July.

In the context of Nepal, a study found that the relationship between external borrowing and economic growth results in an increased burden with the significance in the size and magnitude of such debt. The effect of external debt on economic growth is negative. Another study concludes if external debt increases by one unit, GDP growth decreases by 0.61 units. Similarly, increasing the internal debt by one unit increases the GDP growth by 1.05 percent. Therefore, policy makers should increase the portion of the internal debt which is effective in the context of Nepalese public financing. The external debt should be discouraged which may reduce the GDP growth. Government should rethink the policy while the formulation of the budget so that easy sources of external borrowing with a low-interest rate. Nepalese sources of finance should be expanded while preparing the budget with proper plans, policy, and implementation strategy so that proper utilization of public funds should be emphasized. Corruption should be taken with Zero tolerance. The government should focus on the reforms widely so that contingent liabilities should be mitigated for the investment promotion in treasury bonds, pension funds, and institutional funding.

Soaltee Crown Plaza, Kathmandu, a Five Star Hotel in Bagmati Province and Soaltee Western Premier, Nepalgunj, a Five Star Hotel in province No. 5 is renowned for its rich history as a pioneer in Nepal’s tourism Industry and hospitality across the region.

As per the agreement, Bank’s staff and customers will get 10% discount on standard (declared) pricing on Food and Beverage items. This discount can be availed by showing ATM card or other proof of being associated with the bank.

With 129 branches, 1 Extension counter and 75 ATMs across the country, Kamana Sewa Bikas Bank Ltd. is in a unique position to provide truly nationwide banking services.

Prime Minister Sher Bahadur Deuba and Indian Ambassador to Nepal Vinay Mohan Quatra jointly inaugurated the building on Saturday.

The ‘Jyapu Samaj Senior Citizen Ananda Niketan’ building in Bagdola has been constructed with modern, disability friendly structure for the proper care of senior citizens. Total 110 bed capacities building has a health examination room, kitchen, essential furniture and other equipment.

As per the agreement between the Government of India and the Government of Nepal, more than 450 projects supported by India as high impact community development projects have been completed so far.

A team led by  SAARC CCI’s  Vice president ChandiRaj Dhakal had successful meet Prime minister Deuba in PM’s residence, Baluwatar on Thursday. Regarding the meeting vice president Dhakal briefed Deuba about the SAARC CCI’s activities against the corona virus.

He said that some of the established and planned programs of the SAARC CCI, which was formed as per the SAARC chapter, could not take place as the SAARC ministerial meeting could not be held for a long time. He urged Prime Minister Sher Bahadur Deuba to take it forward with importance in the forthcoming ministerial meeting as Nepal is currently the chair of SAARC.

Vice President Dhakal said that the activities of the private sector should not be viewed from a political point of view. ‘SAARC is the region with 40 percent young people under the age of 40 in the world. We must seize this opportunity and make good use of it. ‘He said,’ The country’s economic sector must be made dynamic. From which the social sector can be transformed. ‘

He said that Nepal should take up the issue of its legitimacy as the SAARC CCI has agreed to assist in exhibiting the country’s identifiable products produced by small and medium enterprises. Vice President Dhakal said that the SAARC CCI would play an important role in turning the potentials among the SAARC nations into opportunities and expanding business.

Similarly, President of the Federation of Nepalese Chambers of Commerce and Industry, Shekhar Golchha, said that the government should focus on activating SAARC CCI as the SAARC CCI has done a very good job in recent days, its infrastructure has been established and it has a lot of potential.

In response, Prime Minister Deuba argue, he was positive towards the SAARC CCI. He said that it would be taken forward in detail once the cabinet is completed with the appointment of foreign minister. Prime Minister Deuba told the delegation, “The government will positively advance the agenda you have brought.”

SAARC CCI Vice-Chairman Dhakal said the state should play a role in creating a conducive environment for industry and trade and the private sector was ready for cooperation to boost the country’s economy. In response, Prime Minister Deuba assured to move ahead after discussing it in detail.

FNCCI Senior Vice President Chandra Dhakal, Central Member Deshbandhu Basnet, Hemraj Dhakal and other delegations were present at the meeting.