Author: space4knews

The Ministry of Finance’s recently released economic statement highlights that Nepal’s agriculture sector remains largely traditional and exhibits lower productivity compared to other South Asian countries. Although 62 percent of the population is engaged in agriculture, the sector’s contribution to GDP has declined from 28.4 percent to 25.2 percent. The statement emphasizes the urgent need to prioritize the modernization and commercialization of agriculture to boost production, income, and exports.

April 26, Kathmandu—According to the economic statement, the annual average growth rate of the agriculture sector over the past decade has been a modest 3 percent. While the sector contributed 28.4 percent to GDP in the 2015/16 fiscal year, this figure dropped to 25.2 percent by 2024/25. The report also notes that economic expansion has progressed more through the service sector than through industrialization based on agriculture.

In terms of productivity, Nepal lags behind the South Asian average. Data indicates that rice yields are only 4.19 tons per hectare, wheat at 3 tons, and maize at 3.46 tons per hectare. Low productivity of arable land and reliance on traditional farming practices have been identified as major challenges. To address these issues, the Ministry of Finance has underlined the priority to modernize and commercialize agriculture.

The ministry asserts that strengthening the integration among agriculture, industry, and tourism is crucial to increasing productive employment. The economic statement points to significant potential for expanding production, income, and exports through agricultural modernization. In particular, investment in high-value crops, livestock farming, horticulture, agricultural processing industries, utilization of geographic diversity, and development of rural industries to replace imports are seen as promising areas. The statement stresses that due to high dependency on imported raw materials and low technology use, the industrial sector remains weak, making it essential to enhance productivity through agricultural modernization and commercialization.

Surendra Pande, leader of the CPN-UML, has emphasized that Nepal’s political parties need to reassess their class bases. Pande asserted that no party can achieve a majority by ignoring the 83 percent middle class. He also warned that the upcoming definition of nationalism must be ‘economic nationalism’ and urged parties to abandon the old underground-era mindset. Kathmandu, 14th Baisakh.

Speaking at a seminar on ‘Madan Bhandari, Social Unity, and Nation Building’ organized by the Madan Bhandari Foundation, Pande noted that understanding Nepal’s changing social structure and international situation is crucial for political success. He argued that old-style politics can no longer address the demands of the present.

Highlighting the need for political parties to reconsider their class foundations, Pande stated, “Only considering 17 percent of the population while ignoring the dominant 83 percent middle class means no party can secure a majority anymore. When the party was founded in 2006 BS, over 90 percent of the population was poor, but the reality today is different. Currently, only 17.4 percent live below the poverty line, while 83 percent belong to the middle class. Do we seek solutions only from books and mechanical elements, or from real life? Life itself is paramount, not just books,” he said.

Discussing the relevance of multiparty democracy (Jabaj), Pande recalled that Madan Bhandari always prioritized living realities over classical theory. He stressed that parties must abandon the underground-era mentality and control-oriented approaches. “The new generation will not be able to enter politics if the old mindsets remain unchanged. Madan Bhandari elevated the Nepali revolution to new heights by grounding it in vibrant facts while communist movements worldwide remained defensive,” he added.

Pande concluded by asserting that the forthcoming nationalism should be defined as ‘economic nationalism.’

The government has decided to extend the lease agreement for the Kirtipur International Cricket Stadium, which is currently operated under a lease by the Nepal Cricket Association from Tribhuvan University. This decision was announced by government spokesperson and Minister for Education and Sports, Sashmit Pokharel, following a cabinet meeting on Monday. The recent completion of the stadium’s construction, including floodlights, had sparked uncertainty about the facility’s future.

The stadium, situated within Tribhuvan University, spans an area of 76 ropani. The university had formed a land investigation committee to reclaim encroached land within its premises, subsequently issuing warnings based on the committee’s report to restore the encroached areas. Eighteen different organizations, including the Cricket Association of Nepal (CAN), were given ultimatums relating to land reclaiming efforts.

Spokesperson for the Nepal Cricket Association, Chumvee Lama, stated that the lease renewal process of the country’s only cricket stadium is imminent. He said, “This issue is not merely about the stadium but involves the nation and the players as well. The government has invested in it, and the facility is an asset for the entire country’s sports sector.” The cricket ground was leased from Tribhuvan University for 25 years, a term set to expire at the end of the Nepali month Baishakh. The process for renewal had begun last year, with the Ministry of Youth and Sports engaging in discussions with Tribhuvan University officials through the National Sports Council (Rakhap).

It has been publicly disclosed that Tribhuvan University has shown some reluctance to renew the lease, partly due to the prolonged cricket competitions held at Kirtipur adversely affecting the university’s academic programs. Students and faculty faced significant difficulties moving around the campus during sporting events, heightening dissatisfaction. Dr. Dipendra Parajuli, Director of the University Student Welfare and Sports Directorate at Tribhuvan University, informed that all organizations within the university, including the cricket stadium, were issued 35-day notices to clear the land.

Regarding the Kirtipur stadium, Dr. Parajuli commented, “It is necessary to formulate a policy for its management. Such a policy is feasible. There are larger issues here than the stadium itself. If any structure must be removed in the future, this notice will provide guidance.” He also clarified rumors circulating on social media about demolishing the stadium, emphasizing that these were baseless and false. The stadium is the property of Tribhuvan University and will not be demolished.

Meanwhile, the Nepalese government has successfully expanded the structure of the Kirtipur cricket grounds with an investment of hundreds of millions of rupees and has prioritized it in the upcoming budget. Recently, nearly one billion rupees were spent to install a 10,000-seat para-pit and floodlights, enhancing the stadium’s standards. The Ministry of Urban Development constructed the para-pit for NPR 437.7 million and installed floodlights for NPR 421.9 million. During Sushila Karki’s tenure as Prime Minister, the Kirtipur Cricket Stadium project was approved as a national priority initiative for the coming fiscal year. According to the master plan, further procurement processes for remaining works have been approved to proceed.

The Cricket Association of Nepal plans to further upgrade the stadium next year, including the construction of a VIP room, players’ restrooms, changing rooms, and a media box.

The Nepal Communist Party (NCP) has decided to organize its National General Convention from the 11th to the 15th of Mangsir (November 27 to December 1) in Kathmandu. The date was finalized during a meeting of the party’s Central Coordination Committee held on Monday. According to one leader, the party aims to complete organizational adjustments at the federal, provincial, municipal, ward, and mass organization levels by the end of Jestha (mid-June).

The party plans to conduct labor camps from Asar to Shrawan (mid-June to mid-August) and complete membership renewals before holding conventions at the lower organizational tiers. Ward-level conventions are targeted to be completed by the 15th of Bhadra (late August), followed by municipal conventions by the end of Bhadra. District conventions should be concluded by the end of Asoj (mid-October) and provincial conventions by the 15th of Kartik (late October), after which the National General Convention will be held. The procedures for the convention will be communicated in due course.

The NEPSE index rose by 7.73 points to reach 2796 on the first trading day of the week. Despite a decline in trading volume to NPR 474 crore, 157 companies experienced an increase in their share prices. Shares of Palpa Cement, Corporate Development Bank, Shikhar Power, and City Hotel surged by 15 percent. Kathmandu, 14 Baisakh.

On the first trading day of the week, the NEPSE index closed at 2796, marking a 7.73-point increase. This follows a 1.5-point rise recorded on the previous Friday. However, trading volumes decreased, with today’s turnover totaling NPR 474 crore compared to NPR 527 crore the prior day. While 157 companies saw their share prices increase, 102 experienced declines and 10 remained unchanged.

The production and processing sector showed the highest gain of 1.52 percent. Other sectors registering growth included development banks (1.14%), banking (0.68%), finance (0.42%), hotel and tourism (0.97%), life insurance (0.13%), microfinance (0.29%), and non-life insurance (0.15%). Conversely, hydropower (0.19%), investment (0.28%), others (0.44%), and trade (1.39%) sectors experienced declines.

Four companies achieved a notable 15 percent rise in share prices: Palpa Cement Industries, Corporate Development Bank, Shikhar Power, and City Hotel. Additionally, Jhapa Energy shares increased by 9.44 percent and Green Development Bank shares rose by 6.86 percent. Conversely, Maikhola Hydropower experienced the largest drop with a 10 percent decline. The top trading companies by volume included Reliance Spinning Mills, Aankhu Khola Hydroelectric, Solu Hydropower, National Hydropower, and Corporate Development Bank.

Alexey Shevtsov, Deputy Secretary of the Russian Security Council, has accused Western powers of launching a continuous smear campaign aimed at disrupting the operations of Russia’s nuclear energy company, Rosatom. According to him, a deliberate information warfare is underway to damage Rosatom’s reputation, specifically targeting nuclear energy projects under construction in Kazakhstan and Kyrgyzstan.

Shevtsov further claimed that thousands of non-governmental organizations in Moldova and Armenia are working to weaken bilateral relations with Russia and discredit regional integration processes. He also sharply criticized European Union and OSCE monitoring missions, stating that instead of ensuring security, they have lost their relevance and are primarily focused on ‘enjoying the perks’ of their presence.

Shevtsov warned about the severe impact on global food security caused by the crisis in the Middle East and a potential blockade of the Strait of Hormuz. Referencing data from the International Energy Agency, he noted that the closure of this vital strait—through which approximately 20 percent of the world’s oil supply passes—would cause an extreme shortage in the oil market and directly harm the production of chemical fertilizers.

In Bodebarsain Municipality of Saptari, Armed Police Havildar Jitendra Yadav died this morning after falling inside a toilet. Yadav was 35 years old and originally from Amarapati, Pachrauta Municipality-8, Bara district. He was serving at the Armed Police Camp in Bodebarsain Municipality-5.

According to the Armed Police Force Rajbiraj office, Havildar Yadav suddenly fell while heading to the toilet this morning. Further details about the incident are yet to be obtained.