The Education Bill (eighth amendment) is a case in point, which was amended to serve the business interests of some  lawmakers who had investments in private colleges and schools

Like the lawmakers in the federal parliament, the elected representatives at the local levels and provincial assemblies will also be barred from joining banks and financial institutions (BFIs).

The Nepal Rastra Bank, the central regulatory bank, issued a circular on Monday barring the elected representatives of all levels from holding any posts – director or member of board of directors – of any BFIs to avoid conflict of interest and maintain good financial governance in all banks and financial institutions.

Last year, the NRB and Ministry of Finance had jointly prepared a draft bill on the banks and financial institutions in which lawmakers would not be allowed to represent the board of any financial institutions, and it had also suggested that no one can remain as chairman of the board of directors of any financial institution for more than two terms of four-year term each.

But the parliamentary Finance Committee overturned both the provisions suggested by the NRB and the Finance Ministry and submitted the revised bill to the full house of Parliament.

The full House, however, returned the bill to the Finance Committee after much criticism from all walks of life, stating that the lawmakers, who had made sundry investment in financial institutions, were more concerned about their interest  than  with good financial governance.

They were criticized for indulging in  conflict of interest which would compromise the depositors’ and public interests. The Finance Committee had to make a correction in the revised bill on banks and financial institutions barring the lawmakers from becoming members of the board of directors of any financial institution.

This provision was incorporated in the BAFI Act to avoid conflict of interest of an elected person who could otherwise use his/her influence in the decision-making processes of a financial institution and such influence can also affect the financial health of a bank and financial institution.

The NRB’s latest circular to the local and provincial representatives is timely and appropriate as they would not be tempted in joining any financial institution but solely dedicate themselves for public service.

The NRB and the Finance Ministry had to lobby for barring the elected persons from taking any position in decision-making bodies of financial institutions after they found that many lawmakers had business interests in profitable sectors such as education, medical colleges and cooperatives, to name a few.

As their interest grew in financial matters, most lawmakers who had made investments on education and medical colleges, lobbied for drafting, revising or repealing laws purely to serve  their business interests.

Making laws to serve the vested interests of certain business groups is betrayal to national and public interests and a clear violations of the Parliamentary Rules number 200 and 233 (e), which clearly bars the lawmakers from taking part in discussions of a bill if his/her business interest is directly involved.

The Education Bill (eighth amendment) is a case in point, which was amended to serve the business interests of some lawmakers who had investments in private colleges and schools.

The duty of elected representatives is to serve the people and nation in accordance with the law. They should keep themselves away from any monetary gains or temptations.

Maternity services

At least 60 per cent of pregnant women in Nepal are availing of safe delivery and maternity services from birthing centers. This number is said to be the highest in the entire South Asian region which is very encouraging news for the Nepali people.

Significant strides have been made in this sector as the mother and child care campaign  being launched by the government  is benefiting many by providing modern delivery services.  Free service is being provided by the government for reproductive health which appears to have paid off.

Meanwhile, the government aims to further reduce maternity mortality to 90 from the present rate of 134 per 100,000 pregnant women and new mothers and doing away with infant mortality. The child mortality rate is now 21 per 1,000 live births.

The concerned should keep up the good work they are doing and even do better by meeting the target set for providing modern maternity services to more women particularly for those in the rural and remote areas.