Kathmandu, February 18, 2006

Latter-day development volunteers from Japan and other developed countries, come, see and go back with mixed feelings. But Takashi Miyahara, who came to Nepal in 1966 as development consultant, has ever since contributed to the development of tourism here . Out of his 38 years of association with Nepal, he has come up with a development plan which he says , if enforced, could change lives. He shuttles between Tokyo and Kathmandu on business with the same frequency as an average Kathmanduite would between Baneswore and Patan.“Nepal has received a lot assistance in the last 50 years. But it does not seem to have changed socio-economic life. Hence, strategies need to be evolved and implemented which can rectify matters,” Miyahara said yesterday while presenting a synopsis of his strategies under “2005: Vision of Tourism and National Development in Nepal.” As someone who is noted for pushing through ambitious projects like building a hotel above the snowline in the Everest region and who has been working for the Department of Cottage Industries ever since he arrived here in 1966, Miyahara has several ideas for the development of a number of sectors. “If one goes through my ideas for development of Pokhara, it will become evident that Nepal can do well if it taps that city’s potential,” Miyahara said, outlining a tourism plan for Pokhara Valley and Annapurna Himalayas. He had also suggested a horse coach road plan for the region as high up as Upper Kaligandaki.

NRB predicts 4pc growth

Kathmandu, February 18, 2006

Nepal Rastra Bank (NRB), the central bank of the country, has predicted that the growth rate of gross domestic product (GDP) in the fiscal year 2004-05 would remain at four per cent, which is a fall by 0.5 per cent from its earlier target of 4.5 per cent. However, the Central Bureau of Statistics (CBS), a government undertaking, in its recent survey has predicted that the GDP growth rate would increase by 3.7 per cent in the current fiscal. According to the mid-term evaluation report of NRB, following the completion of first six months of the new monetary policy, inflation rate in the current fiscal is to hover at about 4.3 per cent. The central bank has stated in the report issued yesterday that there is enough liquidity in the market for economic growth, but a dismal investment climate has not hampered the prospects for further growth. In this current fiscal, the balance of payment surplus would remain at Rs. 5.5 billion, as hike in import would be low as per the monetary policy’s predictions. Similarly, there will be a hike in foreign exchange reserves, said the mid-term evaluation report.