Kathmandu, July 15, 2005

Sharp differences and boycott by a crucial section notwithstanding, organisers of the National Film Festival that kicked off on July 11, are not tired of touting the festival as a success.Yadav Kharel, coordinator of the festival, said the management of the festival should reconsider the complaints lodged by the dissident section. Speaking at an interaction at the Reporters’ Club Nepal, Yubaraj Lama, member of the organising committee, claimed that despite differences the festival would turn out to be successful. Film critic, Dr Pradeep Bhattarai, said the festival held no significance as it had failed to include people from all quarters who have contributed to the film industry. “The state has used artistes to serve its own political interest,” Bhattarai, who wrote on films for more than a decade, said, adding that he would not write another word on films until total democracy was established in the country. Pushkar Lal Shrestha, senior journalist, opined that people from all sections of society should cooperate in the festival as it was a good beginning for film artistes. Agitated by the dissidents’opinions, film producer Ashok Sharma came down heavily on those who termed the festival as politically motivated.

GDP growth confined to two per cent

Kathmandu, July 15, 2005

The country’s economic growth rate in the current fiscal is going to be confined only at two per cent against a growth rate of 3.3 per cent in the previous fiscal year. Presenting the economic survey for the fiscal year 2004-05, a day before the budget, finance minister Madhukar SJB Rana attributed the downfall in economic growth to increased violence and terror in the country, coupled with unsatisfactory performance of business sector such as trade, construction and tourism. Rana said that investment-GDP ratio in the current fiscal year has gone down to 26.1 per cent and domestic savings/GDP ratio has also gone down to 12.3 per cent. He said that the growth rate of agriculture in the current fiscal year is 2.8 per cent while non-agricultural sector’s growth rate stands at 1.6 per cent. However, in the previous fiscal year, the growth rate of agriculture was 3.9 per cent and non-agriculture sector’s growth rate was 2.9 per cent. Rana informed that in the current fiscal year, exports increased only by 5.3 per cent compared to 7.2 per cent in the previous fiscal. Import rate has declined by four per cent, compared to an increment by 7.8 per cent in the previous fiscal. However, the central bank’s figures show that import has already turned negative. In the current fiscal year, the balance of payment surplus has been estimated at Rs 5.57 billion. Similarly, foreign exchange surplus has increased by 5.2 per cent, totalling a deposit of Rs 131.67 billion, during the first 10 months of the current fiscal.