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BUSINESS BRIEFS: NRB to issue NTY 2011 coins

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KATHMANDU, March 21: Nepal Rastra Bank (NRB) is issuing commemorative coins for Nepal Tourism Year (NTY) 2011. As per the request of NTY Program Implementation Committee, the central bank is issuing two coins of silver and cupronickel by May.



"We are waiting for the cabinet decision," said Bhaskar M Gyawali, spokesperson of NRB. While the silver coin will have face value of Rs 1,000, the cupronickel coin will be worth Rs 50 each. [break]



The coins will have the logo of NTY 2011 campaign. NRB is issuing 1,000 units of silver coins and 10,000 units of cupronickel coins.



Earlier, the central bank had issued coins of Re 1, Rs 2, Rs 5 and Rs 10 denominations during the Visit Nepal Year 1998 campaign. However, the coins were issued as per the regular minting procedure.



Nepal for more say of farmers  on genetics



KATHMANDU: Nepal has pushed for greater rights of farmers in plant genetic resources ownership during the fourth meeting of the governing body of International Treaty on Plant Genetic Resources for Food and Agriculture held in Bali of Indonesia from March 14 to 18.



Nepal had ratified the treaty in 2009.



"We have raised the issue of ensuring greater rights of farmers on ownership of indigenous genetic resources, as developed countries and their companies are increasing their influence on such resources," said Dr Hari Dahal, spokesperson of the Ministry of Agriculture and Cooperatives.



The Nepali delegation also stressed on the necessity to share information among signatory countries and proper utilization of benefit sharing fund being created by the 126 member countries.



Nepal also demanded formulation of legal provisions and guidelines and preparation of global report on rights of farmers on genetic resources. "We also pushed for formation of a mechanism to safeguard farmers´ rights through effective cooperation among member countries," said Dahal, who participated in the meeting.



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