KATHMANDU: Buddha Air is operating flights to Kolkata, India from May-end. Buddha Air will operate its flights to Kolkata with the ATR 72-500 aircraft. It will operate three regular flights a week. The flights would be operated on Monday, Wednesday and Friday every week.
Buddha Holidays, sister organisation of Buddha Air, will launch various religious and holiday packages for Indian passengers, and Kolkata tour package and Gangasagar and Jagannath temple worship package for Nepali passengers.
The Air has total 11 aircraft into operation (including six ATR 72-500 and three ATR 42-320). Another ATR-72 aircraft will operate from the next month, said the company.
Earlier, Buddha Air had planned to start flights to the east Indian city from mid-April. It changed its flight dates considering the parliamentary elections in India.
KATHMANDU: The session of the House of Representatives (HoR) on Thursday approved the proposal seeking consideration on the ‘Foreign Investment and Technology Transfer Bill, 2075’.
Matrika Prasad Yadav, Minister for Industry, Commerce and Supplies tabled the bill in today’s parliament.
Earlier, Nepal Communist Party (NCP) lawmaker lawmaker Dev Gurung suggested the government to attract foreign investment into the country that will contribute to national capital formation as well as promotes national interests.
Gurung also suggested the government not to allow foreign direct investment (FDI) in agriculture, cottage industries, security press as well as handicraft.
Similarly, NCP lawmaker Bhim Rawal suggested the government to become sensitive about the principles of the bill. “Protection of the national interest and security, indigenous production and skills have to be emphasized,” he said.
Likewise, Som Prasad Pandey said the government needs to work towards promoting the industries in the country. Pandey said domestic industries and products should not be sidelines at the cost of attracting foreign investment.
Meanwhile, Responding Industry Minister Yadav said the government would attract foreign investment and technology for the country’s prosperity. Minister Yadav also asserted that the government would consider the lawmakers’ concerns on foreign direct investment.
BRUSSELS: The European Union said it will start screening foreign direct investment (FDI) into the 28-nation bloc from April.
The decision has been taken as a move to ‘safeguard Europe’s security, public order, and strategic interests’, according to the European Commission.
European ministers on Tuesday approved the process, which was first proposed by the Commission two years back in 2017, agency reports said.
The screening is aimed at giving EU countries a tool to intervene in cases of FDI in strategic assets, according to reports. (Agencies)
Malaysia, one of the favored destinations for Nepali youth migrants, has stopped hiring Nepali workers for the past nine months consequently depriving several youths of employment opportunities. Ramesh Bharati of Khabarhub caught up with Uday Raj Pandey, the newly appointed Nepali Ambassador for Malaysia and talked about his plans. Excerpts:
What are your plans upon assuming the office in Malaysia?
The climate of Malaysia is similar to that of Nepal. That is why it remains as one of the most favorite destination countries for Nepali migrant workers. I will work with a new plan and vision in Malaysia in the days to come. Nepali Embassy in Malaysia will firstly identify the workers’ problems and then endeavor to resolve them. Similarly, my team will also look for new avenues of trade and employment in the country.
It has often come to the fore through media that the situation of workers in Malaysia is deplorable and that they are duped by their agents. How would you deal with these problems?
Many Nepalis are doing well in Malaysia. However, some workers employed in small and middle-scale industries are in trouble. Nepali Embassy has taken this issue seriously. Currently, there are around 500,000 Nepalis working in Malaysia. As per the estimates of Nepal government, around 1 00,000 Nepalis are working there illegally due to non-renewal of their documents. The embassy will work in helping those workers return home safely.
The agents duping Nepalese workers are under close scrutiny of the embassy. Action will be taken against them.
Malaysia has stopped hiring Nepali migrants for the past nine months. What will be your role in resuming the hiring process?
Malaysia stopped hiring Nepali workers since the government on May 16, 2018, scrapped various institutions in Nepal that had been exploiting Malaysia bound Nepali workers under the pretext of their medical examination. The Nepali Embassy in Malaysia is carrying out necessary homework for discussions with the Malaysian counterpart to resume the labor hiring process.
The problem is not only with the Nepali migrant youths. Malaysia has also stopped the hiring process from other countries at the moment since it is working towards formulating laws regarding foreign employment.
Very soon Malaysia will open its border for foreign workers, and Nepali workers will be in its priority list. We are holding talks with the Malaysian government. Malaysia favors Nepali workers.
Several Nepali youths are languishing in Malaysian jails. What steps will the embassy take for their release?
Nepali Embassy is collecting data on the number of Nepali workers in Malaysian jails. As per the record of the embassy, there are a total of 206 Nepalis in Malaysian jails. I shall lobby for their release. Similarly, there are 106 Nepali workers at the embassy’s shelter. We will expedite the process for their safe return home.
How do you find the prospects of trade and commerce between Nepal and Malaysia?
The Malaysian government is interested to make investments in Nepal in the sectors such as agriculture, tourism, technology, and industries. Nepali Embassy will facilitate and encourage Malaysian investment in Nepal. Similarly, it will work towards the export of agricultural and industrial products from Nepal to Malaysia.
KATHMANDU: The Nepal Oil Corporation (NOC) has assured that the import of cooking gas (Liquefied Petroleum Gas) has been sufficient to meet the demands.
It has urged the consumers not to run after rumors of LPG shortage. The NOC issued a statement at a time when LPG dealers and bottlers have announced protest programs demanding an increase in the commission.
The NOC has asserted that there was no fuel shortage in the market and that loading and import of cooking gas has been regular.
NOC spokesperson Birendra Goit said NOC imported 35,754 metric tons of cooking gas alone in February.
KATHMANDU: Prabhu Bank is set to distribute an 8 percent bonus shares for its shareholders from the net profit of FY 2074/75.
The 17th Annual General Meeting of the bank held at the Prabhu Bank’s Head Office at Babarmahal decided to distribute the share to its shareholders.
According to the bank, the current capital of the bank stands at Rs 8 arba, 89 crore, 26 lakh 78 thousand 9 hundred.
Prabhu Bank, currently has a total of 12 lakh customers throughout the country, including 10 extension counter offices, 132 ATM machines and 165 branch offices.
Likewise, the bank has also decided to expand its services by opening 28 new offices in various parts of the country.
KATHMANDU: Chairman of Nepal Chamber of Commerce (NCC) Rajesh Kaji Shrestha inaugurated NCC offices in Chitwan and Pokhara.
On the occasion, Shrestha expressed the view that the new offices would work closely with the members of the NCC as well as the entrepreneurs in the districts.
KATHMANDU: A huge number of foreigners come to Nepal for employment in a stark contract to over 40,000 Nepali youths leaving the country for abroad jobs on a monthly basis.
According to the record maintained by various outsourcing companies, there is demand of over 300,000 youths in the internal job markets annually. Youths from India, Bangladesh and China come to Nepal for jobs.
Over 900,000 workers enter Nepal annually to engage in various sectors ranging from construction to technology, and working as vegetable vendors.
Currently, there are different companies and institutions providing over 80,000 jobs to the Nepali youths in the country, shared Mahesh Dahal, secretary at the Ministry of Labor, Employment and Social Security.
“There is a demand of over 40,000 youths in the country,” Security Entrepreneurs Association Chairman Uddhav Dallakoti told Khabarhub, adding, “A Nepali youth does not need to go abroad to earn Rs 30,000 if the government manages internal employment.” He further said the number of youths coming to Nepal for jobs is increasing every year.
Saying that over 15,000 domestic workers are required on a monthly basis, he advised the government to introduce security, health and insurance policies to stop the mass exodus of the Nepali youths.
Currently, there are different companies and institutions providing over 80,000 jobs to the Nepali youths in the country, shared Mahesh Dahal, secretary at the Ministry of Labor, Employment and Social Security.
Outsourcing companies in Nepal have claimed that over 15,000 workers are currently working in the country. This number does not include those working on daily wages.
“The government is introducing plans to manage internal job markets. The job market is increasing. The number of foreign youths coming to Nepal for jobs also proves it,” said Dahal.
He further said that the government is doing homework to adjust Nepali youths in the internal job markets rather than importing foreigners.
Outsourcing companies in Nepal have claimed that over 15,000 workers are currently working in the country. This number does not include those working on daily wages.
Under this category, there are 150,000 security guards, 500,000 workers in factories and industries, 500,000 in restaurants, 300,000 in domestic sector while the rest are engaged in other sector.
Sector requiring many workers
The highest demand of youths in Nepal are domestic workers. The demand of domestic workers is around 150,000, with 90,000 in hotels and restaurants, and 80,000 in tea production.
The government has categorized jobs into four categories – security workers, facilitators, domestic workers and secretaries. A minimum wage for these workers has been fixed at Rs 14,000.
The recently introduced contribution-based Social Security Scheme will provide job security to those working in the private sector, said Dahal.
The government can end the obligatory foreign employment in the next five years by properly managing internal job markets, say labor experts.
Given the demand of 300,000 youths in the country, annually, we can make our country prosperous through the proper management of internal job markets, say government officials.
KATHMANDU: President Bidya Devi Bhandari on Thursday emphasized on promoting export in the wake of the ballooning trade-deficit with other countries.
Inaugurating the Nepal Entrepreneurship Summit-2019 jointly organized by the Ministry of Commerce, Industry and Supplies, Confederation of Nepalese Industries (CNI), Ministry of Commerce, Industry and Supplies, and Ministry of Finance in Kathmandu, she said it is high time that youths were encouraged for developing entrepreneurship skills, and creating conducive environment for investment in the country.
President Bhandari also emphasized on institutionalizing the government services besides encouraging vocational training, exchange of ideas and experience on entrepreneurship skill.
This, she claimed, would help in engaging the Nepali youths in the economic development through entrepreneurship as well as help in to exploiting their knowledge, skills and expertise to fulfill the government’s slogan of ‘Prosperous Nepal, Happy Nepali”.
KATHMANDU: Prime Minister KP Oli on Thursday inaugurated the office of Nepal Shipping Office at Ekantakuna, Kathmandu. The newly-established office will start studying and exploring on developing inland waterways.
A 16-member staff have been approved by the cabinet for the Nepal Shipping Office under the Ministry of Infrastructure and Transport (MoIT).
PM Oli had on February 15 last year announced that he would be setting up an office for the purpose.