International Monetary Fund (IMF) has said that Nepal is unlikely to see the robust growth from remittances in the near future.

The International Monetary Fund (IMF)’s Consultation Mission also suggested the government to take into account a slow remittance growth while projecting the revenue mobilization for the next fiscal year.

“The sluggish remittance growth is expected to slow down the national economy,” IMF officials said.

The Mission’s report shows remittance growth in Nepal will hover at just over 10 percent in the next two fiscal years. Nepal had registered robust growth in remittance inflow in the last two fiscal years.

Laura Papi, Division Chief, Asia and Pacific Department of IMF, said that the remittances had led to high credit growth, financed high imports while boosting forex reserves and a major role in the economy.

She added that the effects of slower growth will have direct impact in financial system, consumption and imports and indirect impact in tax revenue growth.

The growth of tax revenue will also be hit by the deceleration in remittance growth. The revenue target needs to be projected with sluggish remittance growth rate, according to the mission.

Nepal’s economy has suddenly entered into a critical phase after the country witnessed a sharp drop in remittance growth rate. This has ballooned country’s balance of payment (BoP) deficit, depleted foreign currency reserve and worsened liquidity in the market.

Source: nepalnews.com

Letter Written by Suman Timsina, President, NRN USA. There is also a video of the event at the end of this post.

Dear all,

our meeting in KY was very well participated. Now I would slowly like to roll out few programs and need your help. Here are related updates.

Please spread the word through your mailing list of your local organization.

1. Upcoming NRN Conference in Houston: I would like to see all of us come to Houston between May 28-30 to attend NRN Regional Conference to be hosted by NRN NCC USA And NRN NCC Canada. It is a perfect platform to showcase our work as well as build global network. Our website will be updated by Sunday with registration and hotel info etc. Ratanji and his committee is working very hard. In addition any assistance with sponsorship, souvenir ad etc will be appreciated. Rajendra Shrestha (Maryland) is leading this effort and please let me or Rajendraji know. I propose we all organizations advertise a ad in souvenir. Advise and confirm for your community and organization at your earliest. Keep following our communication and announcements.

2. Town hall Meetings: Now we are set for a series of town hall meetings. Bishnu Pariyarji, and Bhuwan Gurungji organized a small informal meeting in Boston and was a grand success. Now we are geared up for upcoming meetings in Seattle (WA), Boston (MA), Atlanta (GA) and Hartford (CT) . Anjan Shresthaji and Ratan Jhaji is working on having an event in Texas as well. At the same time, our NRNICC Dy Coordinator of Youth Affairs Dr. Pukar Malla has launched a happy hour once a month in Boston Area and will take opportunity to promote NRN NCC. Now many friends from Chicago, Atlanta, New York, San Francisco and Dallas area has already expressed desire to launch similar program soon.

3. Media Coordination: Our media coordinator Ram Kharelji has done wonderful job in building positive relationship with media. A radio interview was broad casted in Radio Dovaan (MD), Namaste Radio (Canada) live broadcasted interviews. Vishwa Parikrama, Hamrosamaj.net, Everest Times, USNepalOnline.com, NepalHorizons.com, DCNepal.com, Nepali Khabar, Motherland Nepal, Neplaiopst.com, solidarity/Ekyabadhdhata, milankosansar and many other have actively covered our activities. Sagarmatha TV has been a long partner with NRN and continues to broadcast our program on weekly basis. They have continuously dedicated very significant time broadcasting NRN programs and our organization. Our communication with critical mass has made good progress. Our annual meeting was live broadcasted by www.usnepalonline.com/live and videos are available on our website www.nrnusa.org. Read the rest of this entry »

A number of NRNs participated in the launching of program o f Nepal Tourism Year 2011. The launching was done by Rt. Hon. Prime minister of Nepal. The NRNs under the banner of NRNA marched from Nepal Academy Hall, Kamaladi to the Sainik Manch at Tudikhel with Nepali National Flags in the hands.

The NRN participation was led by NRNA Founder President and Chief Patron Dr. Upendra Mahato. Dr. Jugal Bhurtel NRNA Advisor, Mr. Jiba Lamichhane NRNA Vice President, Asia Pacific Regional Coordinator Mr. Ganesh Ijam, ICC Members – Mr. Badri KC, Mr. Sudhir Timilsina, Ms. Sapila Rajbhandari, Mr. Ashish Sherchan and other NRNs participated in the march.

The commitment to support the Nepal Tourism Year 2011 through the promotion of Nepal abroad and investment and employment generation in Nepal was made by Dr. Mahato on behalf of NRNA

Source: nrn.org.np

The Non-Resident Nepalis Association UK has decided to organise a musical program in honour of musical legends of Nepal, the organisation said.

A meeting of the NRN (UK) decided to organise the ‘Tribute to Legends’—a colourful musical program on Sunday, April 11, in Reading, UK in memory of Nepali musical legends including Narayan Gopal, Gopal Yonjan, Aruna Lama, Tara Devi, Arun Thapa and Prabin Gurung. UK-based Nepali artistes including Bivek Shrestha, Sharmila Bardewa, Situ Kharel and Dipu Gurung will present the songs of Nepali legends as a tribute to them. A 14-member management committee has been formed with Surendra Pratap Shrestha as its coordinator.

The NRN UK has also formed a committee to deal with various problems being faced by Nepali students in the UK. The committee led by Tharka Sen has Kedar Thapaliya and Pawan Khatri as its members. “We are going to meet Nepali ambassador to UK, Dr Suresh Chalise, this week to discuss ways to deal with the problems of Nepali students,” said Surya Gurung, president of the NRN UK. Thousands of Nepali students studying in the UK have been worried after the British government issued new immigration rules covering the students from outside Europe early this month.

Read full story at: nepalnews.com

A special program, was held in Kathmandu on February 15th, organized by Minister of Foreign Affairs Sujata Koirala, where she issued the first NRN ID card to NRNA President Mr. Dev Man Hirachand. After isssuing the NRN ID card Minister Koirala said that this ID card will help NRN to get their visa to visit Nepal and open opportunities for investing and helping their effort for the economic development of Nepal. In her address she also assured to take all possible measures to facilitate the activities undertaken by NRNs.

After accepting the NRN ID Card, NRNA President Mr. Hirachand expressed his happiness and thanked Koirala for arranging the issuance of ID cards to NRNs. He further thanked all the NRN leaders and members and assured to fullfill NRNs commitment to contribute to the country’s development.

The identity cards are being prepared as per the Non-Resident Nepali Act and Regulations.

Officials said the ID cards will be available both at the ministry and at 27 Nepali missions abroad.

According to the NRN Regulations, NRNs will have to apply for the identity cards and the ministry and the missions will act on the applications within seven days. Such cards will be valid for 10 years in the case of non-resident foreigners of Nepali descent and for two years for non-resident Nepalis.

Upon getting the identity cards, Nepalis residing abroad will be able to own a maximum of two ropanis of land in Kathmandu Valley, eight katthas in municipalities in the Tarai districts, four ropanis in municipalities in other districts, one bigha in the villages of the Tarai and a maximum of 10 ropanis in other places in the country.

Similarly, NRNs will be allowed to take back profits from their investments in Nepal once they get their identity cards.

Source: hamrosamaj.net, myrepublica.com

Newly appointed envoy of Nepal for Britain, Dr Suresh Chandra Chalise, has said Non-Resident Nepalis (NRNs) are strategic resource for Nepal.

Addressing a reception program organised by the NRN UK chapter in west London early this week, Dr Chalise said NRNs are a major source of remittance for Nepal and can play a major role in technology transfer. He said NRNs can invest in Nepal themselves and also play a pro-active role by encouraging foreign investors to go and invest in Nepal. They have also been playing an important role in conserving and promoting Nepali culture abroad, he said.

Ambassador Chalise, who has also served as Nepal’s envoy to the US, said his priorities during his tenure in the UK will include trying to resolve the Gurkha issue, mobilise NRN skills and resources for the betterment of Nepal, and tap British resources for the reconstruction, rehabilitation and poverty alleviation in Nepal. “I will also try to organise British Prime Minister’s visit to Nepal,” he added.

Read full story at: nepalnews.com

The embassy of Nepal in Switzerland in partnership with RN-Switzerland participated in the international tourism fair in Zurich, FESPO 2010, held from January 28 to 31.

Ambassador of Nepal to Switzerland Dr Dinesh Bhattarai inaugurated the Nepal stall at FESPO in Zurich amidst international visitors and members of the Nepali diaspora.

Speaking on the occasion, Dr Bhattarai said that the hosting of Nepal’s stall at FESPO 2010 was aimed at promoting Nepal’s tourism sector and also enhancing the publicity about tourist attractions of Nepal as a contribution to the upcoming national campaign of Nepal Tourism Year 2011.

Nepal’s government has launched Nepal Tourism Year 2011 and called for an all-out campaign to promote this national endeavor to bring a million tourists in 2011.

Dr Bhattarai highlighted his government’s priority accorded to economic diplomacy and expressed commitment on part of the embassy to utilize every opportunity for the promotion of Nepal’s economic diplomacy.

Expressing appreciation of NRN-Switzerland for the partnership, Dr Bhattarai said that the embassy of Nepal in Switzerland contemplates more such fairs in future and urged the Nepali diaspora for stronger partnership and collaboration.

This participation in FESPO 2010 will provide valuable experience to the embassy to expand such activities in future and widen its reach to the larger segment of Nepali and international audiences, the ambassador added.

NRN-Switzerland president Dr Binaya Shrestha said Nepal’s participation for the first time in this international fair is a testimony of the priority accorded by the government and the embassy to the promotion of Nepal’s economic diplomacy.

He assured of commitment on the part of the Nepali diaspora in such activities in future as well.

Source: thehimalayantimes.com

GEOFF PATTON/THE REPORTER Souderton Area High School senior Pooja Pradhan holds a Ganesha, a Hindu deity, one of the items she brought home from a visit to Nepal. At left is her mother Moni.

Nepal may be half a world away from Pennsylvania, more than 7,000 miles by sea or 17 hours by air, but it’s never far from Pooja Pradhan’s head or heart.

And Pooja, a Souderton Area High School senior, left a little piece of herself there this past fall as part of her senior graduation project.

“Basically what I did was raised money, it ended up being about $720 total, to educate one girl named Sapana Lama in Nepal from first grade through 10th grade,” Pooja said.

She did so with the help of the Nonresident Nepali Association, an international organization that coordinates natives of her home country around the world, and with the help of some family in the right places.

“My sister and much of our family still live there, and she has ties to the Mary Ward School which is run by the Congregation of Jesus, and she has ties to the school and helped us put everything together,” said Pooja’s mother Moni.

Working through NRN’s PayPal account, Pooja e-mailed friends as well as contacts outside of school in the area’s greater Nepali community for help, and were able to visit and meet her at the school back in October, Pooja said.

Read full story at: thereporteronline.com

NRN’s are eager to help develop Nepal, but the government must meet them halfway

The Non-Resident Nepali Association (NRNA) was established in 2003 as an umbrella organisation of non-resident Nepalis (NRNs) with the aim of bringing them together, protecting and promoting their interests abroad, promoting Nepal’s dignity, contributing to national socio-economic development and ensuring their legal status in Nepal. The government has promulgated the NRN Act 2007 and created regulations to facilitate the NRNA’s activities. The government’s sincerity and strong desire to tap their accumulated resources, knowledge, skill and expertise for national development is also reflected in this move.

The NRNA concluded its fourth global conference in Kathmandu with a 19-point resolution known as the Kathmandu Declaration. It also elected Dev Man Hirachan as president, declared the establishment of the Nepal Investment Fund worth US$ 100 million and pledged to provide more assistance to socio-economic development through the public-private partnership programme. More than 500 representatives from around the world participated in the meet. The conference ended with the slogan “Peace and Prosperous Nepal; Common Dream of Ours”.

The contribution of NRNs is reflected in their work in Nepal’s socio-economic sectors. Their capital, knowledge, skill, technical know-how and long experiences have been employed in these sectors. The construction of the Kriyaputri Bhawan at Pashupati, Devghat Bridhashram in Chitwan and Paropakar Hospital in Siraha, financial and technical assistance to various educational institutions and investment in various education, health and drinking water projects, financial institutions, hydropower plants and communication sectors are some examples of their contribution towards their motherland.

In the current situation characterised by an increasing budget deficit, widening trade deficit, expanding balance of payments deficit and resource constraints, the NRNA could be a viable force to help the country out. Therefore, the government needs to make an effort to create a favourable atmosphere, investment-friendly policies, pragmatic and workable institutional mechanism, sustainable peace and security and a proactive labour policy. The industrial sector should also be declared a zone of peace and the legitimate demands of the NRNA should be addressed.

The government, political parties and the business community look serious to fulfil their demands and welcome the NRNA’s investment in Nepal. But still the NRNA has not been legally registered in Nepal. It is also a serious concern of all. It would be meaningless without addressing the NRNA’s legitimate concern to expect more investment and assistance from them. Thus the government needs to take a serious initiative to fulfil its sincerity to implement its commitment, not in words but in action. It really does give meaning and stimulate and inspire them to become involved further in the development process by taking ownership to build new Nepal as well.

Hydropower, tourism and agro-based industries are some of the lucrative areas for investment. These sectors have remained idle for a long time. If we are able to attract NRNs to these sectors, it could be a sustainable source of revenue in the national coffers as well. NRNs have expressed their sincere desire to invest their accumulated capital, knowledge, skill and technical know-how in Nepal for a long time. They have also expressed their utmost desire to take the initiative to build a peaceful and prosperous Nepal. It is also reflected itself by their slogan of the Fourth NRNA Global Conference. They have also shown keen interest in power generation in different sectors to mitigate the acute electricity shortage problem in the country. It has been crucially important for industrialisation as well as the normal life of people.

China and India are some of the good examples who are efficiently attracting and tapping their non-resident citizens’ capital and knowledge by implementing appropriate and programmes. Consequently, their economy has seen tremendous growth in the world. Therefore, Nepal should learn lessons from this reality of our close neighbours and take the initiative to provide an appropriate ground in Nepal.

Hydropower, tourism, roads and transportation, health and education are the crucially important sectors to reduce poverty, to raise the living standard and finally make a peaceful, prosperous and inclusive new Nepal. But these sectors also require a huge investment. That is not possible in the present situation of Nepal. New Nepal is not possible just with donor-driven policies, political slogans, and international institutions’ prescribed medicine. The government requires sustainable sources and needs to focus on a proactive approach. Nepal is in a transitional phase. It requires much support and assistance from different areas for maintenance of sustainable peace and stability, drafting a new federal democratic constitution within the stipulated timeframe, bringing the peace process to a logical end, fulfilling the people’s new aspirations and desires, and finally building a just and new prosperous Nepal.

Therefore, the Nepal government should take quick action to address all the legitimate demands of the NRNA by consulting with NRNA representatives, all the political parties, bureaucrats, all the national stakeholders and intellectual persons. It should also build an appropriate environment to make them sustainable development partners of Nepal by implementing pragmatic, effective and dynamic policies and workable mechanism to tap their capital and knowledge which ultimately will contribute to creating a peaceful, prosperous and just new Nepal. The NRNA should also boost its investment further to show its overwhelming love toward the motherland at this critical juncture and provide all possible support to maintain sustainable peace and security and write a new constitution on time.

(The author is a postgraduate in MPP from the KDI School of Public Policy and Management, South Korea)

Source: http://www.ekantipur.com

KATHMANDU, Jan 12: Nepal will soon issue identity cards to thousands of non-resident Nepalis (NRN) from January-end enabling them to own a limited amount of property in Nepal and enter their former motherland without any visa.

A senior official at the Ministry of Foreign Affairs (MoFA) told myrepublica.com that the ministry is working on a war footing to complete the preparations so that the identity cards will be available to NRNs by the end of this month.

“We have already ordered the printing of the identity cards to meet the deadline [January-end],” said the official on condition of anonymity.

“If things go as planned, the ID cards will be issued starting from the stipulated date,” the official said.

MoFA officials said that the identity cards are being prepared as per the Non-Resident Nepali Act and Regulations.

Preparations for issuing the IDs to Nepalis residing abroad come at a time when NRNs have been demanding dual citizenship. The Non-Resident Nepali Association early this month submitted a memorandum to the Constituent Assembly (CA) demanding incorporation of a provision on dual citizenship in the new constitution. The draft of the directive principles of the state prepared by the CA committee, however, denies NRNs dual citizenship.

Officials said the ID cards will be available both at the ministry and at Nepali missions abroad.

According to the NRN Regulations, NRNs will have to apply for the identity cards and the ministry and the missions will act on the applications within seven days. Such cards will be valid for 10 years in the case of non-resident foreigners of Nepali descent and for two years for non-resident Nepalis.

Upon getting the identity cards, Nepalis residing abroad will be able to own a maximum of two ropanis of land in Kathmandu Valley, eight katthas in municipalities in the Tarai districts, four ropanis in municipalities in other districts, one bigha in the villages of the Tarai and a maximum of 10 ropanis in other places in the country.

Similarly, NRNs will be allowed to take back profits from their investments in Nepal once they get their identity cards, according to the Regulations.

“We hope the move [issuance of identity cards] will bolster our policy of economic diplomacy,” said another MoFA official.

Source: myrepublica.com