KATHMANDU, May 16: Carrying out mega projects without the approval of the  Environment Impact Assessment (EIA) report or in breach of the report will incur hefty fines for mega development projects or industrial ventures, following the endorsement of the Environment Protection Bill by  parliament.

KATHMANDU, May 12: National concern and coordination committee has decided to demand information with the concerned ministry and stakeholders relating to the status of four major projects and the challenges before their implementation.

KATHMANDU, May 4: The government’s policy and program unveiled ahead of the annual budget is supposed to give a clear direction to its activities and expenditure in the upcoming fiscal year. But the policy and program unveiled by President Bidya Bhandari on Friday lack anything as such, according to economists.

KATHMANDU, April 22: Investment Board Nepal (IBN) has said that it has received as many 48 applications for 31 out of 50 projects showcased during the recently held Nepal Investment Summit 2019.

Post-summit challenges

April 16, 2019 01:05 am

Foreign Direct Investment (FDI) is an effective instrument for promoting sustainable development in Least Developed Countries (LDCs) like Nepal. Realizing this fact, the government of Nepal has organized three investment summits so far. First was in 1992 following the restoration of democracy. The investors attending the summit had pledged investment of approximately $100 million, but only around 25 percent of the pledged amount was realized.

Post-summit thoughts

April 14, 2019 02:05 am

Before and even after Nepal Investment Summit 2019, there have been debates for and against such investment promotion event. Some claimed this is not the right time to organize the event when investment-friendly environment is still elusive in the country. Others went to the extent of saying that it would be a mistake to go for such summit without evaluating the achievement of 2017 summit.

Whose Investment Summit?

April 9, 2019 01:25 am

Nepal Investment Summit 2019, held in Kathmandu on 29-30 March, was so well attended that the Minister of Industry, Commerce and Supplies couldn’t even find a vacant seat in the opening session of the conference.

KATHMANDU, March 31: The two-day ‘Investment Summit 2019’ concluded on Saturday with the signing of 15 memorandums of understanding (MoUs) with and among various investors, in addition to investment commitments to 17 various projects.

KATHMANDU, March 30: Investors at home and abroad attending the 3rd Nepal Investment Summit have sought full implementation of Nepal government's commitment to put procedural reforms and policies for investment security, while expressing their excitements over favourable environment created for investment in Nepal.

Marshalling foreign investment

March 30, 2019 01:05 am

The government of Nepal has organized Nepal Investment Summit, only two years after holding a similar conference, with more than 600 delegates from foreign governments, multinational institutions and companies around the world. Government has showcased 77 projects with cost of US$ 33.6 billion, and the private sector has proposed 17 projects at $1.8 billion, making the conference price tag $36.4 billion.

POKHARA, March 29: Ten projects based in Kaski district are going to be showcased at the two-day Nepal Investment Summit to kick off on Friday.

KATHMANDU, March 25: Preparations for the Nepal Investment Summit 2019 scheduled for March 29-30 in Kathmandu have neared final stage.

KATHMANDU, March 17: Energy projects top the government priority for foreign direct investment (FDI) in terms of investment amount, according to the Investment Board Nepal (IBN).

KATHMANDU, March 15: Investment Board Nepal (IBN) has prepared a list of 50 projects for showcasing to foreign investors at the Nepal Investment Summit 2019 scheduled for March 29 and 30.

KATHMANDU, March 13: The government has forwarded a bill to parliament for bringing development projects of national priority under the supervision of the prime minister.

KATHMANDU, March 7: Nepal Infrastructure Bank Ltd has come into operation from Wednesday, aiming to generate finances for infrastructure projects. Minister for Finance Yuba Raj Khatiwada inaugurated the bank.

KATHMANDU, Feb 12: Eighth month of the current fiscal year is beginning on Wednesday. But the federal government is bringing projects, which were earlier handed over to provincial governments, under its ambit.

JHAPA, Feb 4: In an apparent move to consolidate his voter base, Prime Minister KP Oli has launched seven big projects worth billions of rupees in his constituency, Jhapa-5.

KATHMANDU, Dec. 21: Minister for Physical Infrastructure and Transport Raghubir Mahaseth has said that construction works of bridges would be monitored from the initial stages in the upcoming bridge projects.

KATHMANDU, Dec 17: The Nepal Electricity Authority (NEA) has in the first five months of the current fiscal year signed the power purchase agreement (PPA) with 52 hydropower projects.

Nepal, China agree to expedite past deals

December 14, 2018 08:03 am

KATHMANDU, Dec 14: Nepal and China have agreed to expedite the implementation of past agreements and understandings and prioritize projects under bilateral co-operation.

KATHMANDU, Dec 3: Amid growing malpractices in the procurement of equipment, goods and services in mega infrastructure projects, the Commission for the Investigation of Abuse of Authority (CIAA) has circulated a 14-point work plan to all the ministries and agencies concerned in an attempt to end such misconduct.

KATHMANDU, Oct 3: The new leadership of Federation of Contractors’ Association Nepal has started lobbying to protect Pappu Construction Pvt Ltd -- a construction company that has left different development projects, mostly bridges, in limbo causing cost and time overruns.

Nepal Army must exercise transparency

September 20, 2018 02:00 am

The list of projects constructed by national army is long. It has constructed 1,030 kilometres of road in different parts of the country, particularly linking north-south remote parts of Nepal to the rest of the country.

KATHMANDU, Sept 19: Minister for Finance Yuba Raj Khatiwada has said that the central government is going to be under ‘double stress’ as the central government has to devolve resources as conditional grants for implementation of some projects but local level governments are not willing to construct them.

KATHMANDU, Sept 13: Prime Minister KP Oli has said that Nepal will select projects and programs under any bilateral, regional and multilateral forums based on country's needs and priorities.

SINDHUPALCHOWK, Sept 10: Almost 90 percent of the drinking water projects, devastated by the 2015 earthquake in Sindhupalchowk district, have been so far complete.

KATHMANDU, Aug 3: Most of the projects financed by the Asian Development Bank (ADB) continued to move on a slow pace in the second quarter of 2018.

KHOTANG, Aug 1: Mayor of Diktel Majhuwagadhi Municipality of Khotang claimed that 95 % of the projects conducted by the municipality in the Fiscal Year 2017/18 were successful.

JAJARKOT, July 24: More than 400 drinking water projects in Jajarkot district are said to be in the lurch. These projects were constructed since the last 10 years.

KATHMANDU, July 19: Nepal and India have agreed to address the difficulties faced by various Indian-funded projects in Nepal to ensure their timely completion.

ROLPA, July 2: Home minister Ram Bahadur Thapa has been speaking of penalizing contractors who do not complete work on time. However, there are some contractors who have not received payments for works completed on time.

GORKHA, June 30: Former Prime Minister Baburam Bhattarai has complained that the government has excluded all major projects recommended from the district while formulating budget of the current fiscal year.

KATHMANDU, June 29: In yet another dispute over the implementation of federalism, lawmakers have been divided over whether  ongoing development projects being implemented by the federal government should be handed over to the local and provincial levels or not.

KATHMANDU, June 28: Lawmakers have stressed that the incomplete national projects should be completed by the central government and handed them to the local government.

DAILEKH, June 28: Two much-hyped drinking water projects of Dailekh-Majhuwa and Badalamji have failed to make any progress for the last decade. With the objective of supplying drinking water to the dense and dry settlements, the government has planned to spend Rs 190 millions for these two projects.

UDAYAPUR, June 27:  As a part of the 'President Chure Tarai Madhesh Program', the extraction as well as buying and selling of construction materials has been banned in 12 districts attached with Chure since mid-July.

KATHMANDU, June 21: Nepal and China have agreed to expedite eight major projects in Nepal, during the ongoing official visit of Prime Minister KP Oli to Beijing.

BEIJING, June 20: Eight different agreements were signed between Nepal and China in Beijing at the presence of Prime Minister KP Sharma Oli today. Agreements were signed between the government and private companies of both the countries to develop hydropower projects, cement industries and establishing highland food parks amid a function organized in Embassy of Nepal in Beijing.

KATHMANDU, June 20: Nepal officially started building the Kathmandu-Tarai Expressway in 2017. The government recently announced it is to build a railway line along the same  route,  extending all the way to Raxaul across the Indian border.

KATHMANDU, June 17: The government has approved the draft of the memorandum of understanding on the establishment of a mechanism to facilitate the programs and projects in Nepal with support from the People's Republic of China.

Two Nepali photography projects, ‘Eclipse’ by Sagar Chhetri, and ‘Feminist Memory Project’ by Nepal Picture Library, have been recognized and selected to receive support from the prestigious Magnum Foundation Fund. Magnum Foundation Fund is a US-based program that supports photographers around the world to expand creativity and diversity in the field.

KATHMANDU, June 1: Local level units in Rautahat district have allocated more budget funds for roads than for any other sector, placing education, health and other sectors in the shadow. Katahariya Municipality has allocated Rs 90 million (over 45 percent), out of a total of Rs 200 million earmarked for capital spending, for road construction. Over-concentration on roads in budget allocations has undermined the other priorities.

KATHMANDU, June 1: Local level units in Rautahat district have allocated more budget funds for roads than for any other sector, placing education, health and other sectors in the shadow. Katahariya Municipality has allocated Rs 90 million (over 45 percent), out of a total of Rs 200 million earmarked for capital spending, for road construction. Over-concentration on roads in budget allocations has undermined the other priorities.

GORKHA, May 28: Many multi-million rupee projects in Gorkha district have remained incomplete even months after crossing the deadline. In fact, there are hardly any projects that could be listed as meeting completed within the deadline. Infrastructure projects including road, drinking water, building construction among others are plagued alike by the same problem.

POKHARA, May 26: The contract for the construction of the Baglung-based Dhaulagiri Zonal Hospital was signed in fiscal year 2008/2009.

KATHMANDU, May 26: Projects for strengthening the country’s transport and energy infrastructure, financed by Millennium Challenge Corporation (MCC), may enter into implementation by September 2019, according to officials of the US Embassy in Kathmandu and the Government of Nepal.

KATHMANDU, May 234: The government has set up a unit at the Office of the Prime Minister and the Council of Ministers in order to promptly tackle problems arising in national pride projects or mega projects.

BUTWAL, May 17: The announcement for the construction of waste processing center in Siddharthanagar, the gateway to Lumbini, under the integrated city development plan in 2012, had elated the locals.

Lawmakers lobbying hard for Constituency Development Fund