Home – Page 54 – South Asia Time

Home

Lamichhane dismissed from the post of DPM and Home Minister, SC finds him guilty in citizenship and passport case

Posted on by SAT News Desk

Kathmandu : The Supreme Court of Nepal on Friday annulled the status of Home Minister Ravi Lamichhane as a member of parliament citing that the citizenship he had to contend the election was not valid.

SC’s certiorari order rendered Home Minister Lamichhane’s posts both as lawmaker and minister void. 

A constitutional bench comprised of acting Chief Justice Hari Krishna Karki, justices Bishwambhar Prasad Shrestha, Ishwar Prasad Katiwada, Dr. Ananda Mohan Bhattarai and Anil Kumar Sinha issued the verdict.

With the decision of SC, Lamichhane has been dismissed from the post of Deputy Prime Minister and Home Minister.

SC has found Lamichhane guilty in the case of citizenship and passport.

Lamichhane was elected a member of the House of Representatives (HoR) from Chitwan 2 and appointed Deputy Prime Minister and Home Minister a month ago.

Lamichhane is also the president of Rastriya Swatantra Party (RSP) which has 20 lawmakers in the 275-member House.

Meanwhile, RSS adds that, the constitutional bench of Supreme Court issued the verdict to this regard after hearing the case on Lamichhane’s acquisition of Nepali citizenship and the US passport. 

With the SC verdict, by-election is to be held in constituency no 2 of Chitwan, the Rising Nepal writes.

The verdict read, “After giving up the US citizenship, Lamichhane was not found adhering to the legal process to acquire the Nepali citizenship again. So, he did not deserve to be the candidate of the member of House of Representatives nor could hold the lawmaker’s post. With this, a certiorari order is issued as per Article 133 (b and c) and Article 137 of Constitution of Nepal by scrapping all activities as making Lamichhane an election candidate, announcing his election victory, and conferring him the certificate.”

Nepal progresses in hunger reduction, climbs 81st rank on 2022 hunger index

Posted on by SAT News Desk

KATHMANDU: Nepal has made improvement to reduce hunger with a score of 19.1 in the 2022 Global Hunger Index (GHI), a drop from 21.2 in 2014.

The country is ranked 81st out of the 121 countries, ahead of some South Asian countries, India, Pakistan, Afghanistan and Bangladesh. However, it is behind Sri Lanka which is ranked 64th with 13.6 points. India’s position has depleted because it fell to 107th position with 29.1 points. Similarly, Bangladesh is ranked 84th with 19.6, while Pakistan 99th with 26.1. Afghanistan is ranked 1.9th with 29.9.

The GHI report was published jointly by Concern Worldwide and Welthungerhilfe amid a function here organised by the NGO Federation of Nepal.  The index less than 10 points reflect low hunger, and between 10 and 19.9 moderate hunger. Similarly, from 20 to 34.9 indicates serious hunger, and from 35 to 49.9 alarming. Above 50 reveals extremely alarming.

The aim of the GHI is to trigger action to end hunger around the world, it has been shared.  As the 2022 Global Hunger Index (GHI) shows, Nepal scoring 19.1 on the GHI signifies that it has a moderate level of hunger. It has continued to do improvements on the GHI scores over the past 22 years. Nepal scored 37 on the GHI Trend in 2000. The score dropped to 30 in 2007, 21.2 in 2014 and 19.1 in 2022.

Although Nepal has done some progress in reducing hunger, it is not satisfactory, said Dr Yamuna Ghale, food security expert. GHI scores are calculated based on a formula combining four indicators—undernourishment, child stunting, child wasting and child mortality—that together capture the multidimensional nature of hunger, she said.

When we look at data of stunting rates regionally, there is a grim picture, she said. Stunting rates vary across the provinces with the range of 22.6 and 22.9 percent in Gandaki and Bagmati Provinces respectively, and the figure jumps to more than double being at 47.8 percent in Karnali Province. This is not a matter of satisfaction, she said.

Likewise, children consuming foods rich in iron and iron supplements are low across provinces. According to her, Province 1 and 2 have the lowest percentage in the case of women and children respectively. Women and children in Province 1 and 2 were also found the most anemic in the country, which could be due to less or no iron intakes, she said.

Cooperation, coordination and collaboration among related stakeholders, ensuring localized, sustainable, inclusive and resilient food system and understanding relevant stakeholders in the realization of human rights to food could be a way out, she suggested.

Similarly, alignment with legal provisions including gender responsiveness, establishment of responsive institutions, capacitating legislators and the government and ensuring target provisions like gender, geography, vulnerabilities, emergencies and market shocks could be pathways, according to her.

RSS

“Saraswati Puja” a special day to worship Goddess of learning being celebrated

Posted on by SAT News Desk

Kathmandu — Shree Panchami also known as Basanta Panchami is being celebrated today across the country by worshipping Saraswati, the goddess of knowledge, wisdom, learning, art, music and culture.    


The day is very special for students and new learners. Students take early bath, observe the mass Saraswati Puja in schools, visit temples and listen to Basanta Shrawan.    


Many educational institutions arrange special prayers or pujas in the morning to seek blessing of the goddess. Poetic and musical gatherings are held in some communities in reverence of Saraswati. 

   
Many families mark this day by sitting with young children, encouraging them to write their first words with their fingers, while some just study or create music together.   

 
Goddess Saraswati is worshiped with various names such as Bharati, Sharada, Jagatmata, Bageshwari, Kaumari, Baradayani and Kamdhenu.  

  
People from Hindu and Sikh communities, mainly in Nepal and eastern India, observe this festival.    

It is believed that the festival marks the beginning of the spring season.   

 All necessary preparation for the event has been made, the office shared. 

History of the festival

There are numerous folk tales linked with the auspicious day, on the basis of the region. The most widely known story is that of Kalidasa, the legendary poet. The story talks about Kalidasa, a mere simpleton, who is tricked into marrying a princess who does not respect him. The poet tries to take his life because of this, but just before he can do it, goddess Saraswati appears in front of him. He is asked to take a dip in the river, and when he emerges from the water, he becomes an intelligent, cultured and knowledgeable person. He eventually becomes a renowned poet. Thus, devotees pray to the goddess to bestow the gift of knowledge on them.

Basant Panchami takes place on the fifth day (Panchami) of the Magh month of Shukla Paksha every year. The day also marks the start of the preparations for Holi, celebrated 40 days after Saraswati Puja.

Yellow colour is considered significant for the festival as the day is commemorated at a time when vibrant yellow flowers of the ripe mustard plants appear in the crop fields. Many other yellow flowers of the spring season are also offered to the goddess Saraswati.

India PM Modi pays tribute to fallen soldiers at National War Memorial on Republic Day

Posted on by SAT News Desk

NEW DELHI: India Prime Minister Narendra Modi on Thursday paid floral tributes to fallen heroes at the National War Memorial on the occasion of the 74th Republic Day celebrations.

He led the nation in paying solemn tributes to the fallen heroes by laying a wreath.

The Republic Day celebrations commenced with the homage ceremony at the National War Memorial.

PM Modi was received by Defence Minister Rajnath Singh on his arrival at the National War Memorial.

The Inter-Services Guards were founded by 7 Soldiers from each service.

This year, the guards will be commanded by an Air Force Officer, Sqn Ldr Akash Ganghas. When the Prime Minister laid the wreath, the Inter-Services Guards presented `Salami Shastra’ followed by ‘Shok Shastra’.

Simultaneously, the buglers sounded the ‘Last Post’. Thereafter, ‘two minutes silence’ was observed, after which the buglers played ‘Rouse’ and the guards presented ‘Salami Shastra’ again.

The Prime Minister then endorsed his remarks in the digital Visitor’s Book of the National War Memorial.

Later, PM Modi and other dignitaries headed to the saluting dais at Rajpath to witness the Republic Day parade.

President Droupadi Murmu will lead the nation in celebrating Republic Day from Kartavya Path, formerly the Raj Path.

Egyptian President Abdel Fattah El-Sisi is the Chief Guest at the parade, the first Egyptian premier to be invited to the occasion.

Earlier, Prime Minister Modi extended greetings to the nation on the occasion of the 74th Republic Day.

“We wish to move ahead unitedly to make the dreams of the great freedom fighters of the country come true.”

The week-long celebrations commenced on January 23, the birth anniversary of Netaji Subhas Chandra Bose.

(ANI)

Afghanistan to be further isolated if its women face isolation, UN warns Taliban

Posted on by SAT News Desk

KABUL, AFGHANISTAN: A United Nations (UN) delegation has warned the Taliban that Afghanistan would be further isolated if it isolates its women, Afghanistan-based news agency Khaama Press reported.

According to The Khaama Press, a high-level UN delegation traveled to Afghanistan this week and met with high-ranking Taliban officials to ensure the protection of women and girls’ rights amid the growing concern over their alienation.

The Taliban was called by UN legal experts to prioritize protecting the rights of women and girls under any circumstance. The international community was also urged to support Afghan women during these critical times.

UN Deputy Secretary-General Amina Mohammed, the Executive Director of UN Women Sima Bahous, and the Assistant Secretary-General for UN political, peacebuilding, and peace operations Khaled Khiari, were part of the UN delegation visiting Kabul.

The aim of the four-day visit was to observe the situation, engage with de facto authorities and highlight the UN solidarity with the Afghan people, the delegation said in a statement on Friday.

Meanwhile, the senior UN team will share their findings and recommendations with all member states, which may influence global policies towards Afghanistan in the short and long terms, Khaama Press reported.

Deputy Secretary-General Amina Mohammed, as quoted by Khaama Press said: “The recent bans issued by the Taliban caretaker government restricting women and girls from educational institutions and workplaces is of great concern for the UN. Indeed, these restrictions are isolating Afghanistan itself in the midst of a terrible humanitarian crisis.”

Amid the ongoing violation of the rights of Afghan women under the Taliban regime, Taliban spokesperson Zabiullah Mujahid recently said in a statement that overturning restrictions against women is not a priority for the group, reported Khaama Press.

The Taliban said that it would not permit any acts that violate Islamic law, and the concerns regarding restrictions on women’s rights will be dealt with according to the established rule of the group in the country.

Mujahid in a statement said that “the Islamic Emirate tries to regulate all matters in accordance with the Islamic Sharia, and the ruling government cannot allow acts against the Sharia in the country,” reported Khaama Press.

The latest action by the Taliban to ban women from working in NGOs generated protests by female university students and women activists in several regions of the country, as well as brought condemnations, globally.

India uses emergency powers to block BBC documentary on PM Modi

Posted on by SAT News Desk

The two-part programme – India: The Modi Question – questions Mr Modi’s leadership during the 2002 Gujarat riots.

The first episode was broadcast in the UK on Tuesday, and while it did not air in India, content was shared online, according to government adviser Kanchan Gupta.

He said the government had issued orders to both YouTube and Twitter to block content, using legislation under the country’s information and technology rules. He said both social media companies had complied.

Last week, a spokesperson for India’s foreign ministry termed the BBC documentary a “propaganda piece” meant to push a “discredited narrative”.

Rishi Sunak was asked about the documentary at Prime Minister’s Questions (PMQs) on Wednesday, Sky news reported.

Imran Hussain, Labour MP for Bradford East, asked the PM about claims in the film that the Foreign Office “knew the extent of Mr Modi’s involvement in the Gujarat massacre,” and asked whether Mr Sunak believed Mr Modi was “directly responsible” for the violence that ensued.

The documentary was originally broadcasted in the U.K., but it quickly generated hype in India after unauthorized video clips began circulating on social media platforms, reminding viewers of Modi’s role in the 2002 Gujarat riots—and prompting the Indian government this week to block it from being aired on Indian platforms.

Distribution system breakdown triggers power outage across Pakistan

Posted on by SAT News Desk

ISLAMABAD — Millions of Pakistanis encountered power outage on Monday morning after the power distribution system of the South Asian country broke down, said the ministry of energy.

The energy ministry said in a statement the countrywide power breakdown was triggered after the frequency of the national grid decreased suddenly.

“According to initial reports, the system frequency of the national grid system decreased at 07:34 in the morning, which resulted in a widespread breakdown in the power system,” said the ministry.

The ministry added that efforts were underway on a fast track to restore the system as early as possible.

Local media quoting unanimous officials from the ministry reported that it might take 24 hours to restore the system completely.

According to the local reports, all major cities including the capital Islamabad, Lahore, Karachi, Peshawar and Quetta have lost power supply completely.

Quetta Electric Supply Company told local media that 22 districts of the country’s southwest Balochistan province are without power. (Xinhua)

British monarch sends condolence to Nepal over plane crash in Pokhara

Posted on by SAT News Desk

Kathmandu: King Charles III of the United Kingdom has sent a message of condolence to Nepal and Nepalis over the Yeti Airlines plane crash on Sunday that killed all 72 members onboard and left the country in a deep shock and mourning.

In a letter addressed to President Bidya Devi Bhandari of Nepal, the British King has said that he and his wife are deeply shocked by the tragic loss of lives following the plane crash. “My wife and I were truly shocked to learn of the utterly tragic loss of life following the plane crash in Pokhara on Sunday,” says the British king in the letter.  “Our special thoughts and prayers are with you and the people of Nepal at this time of immeasurable sorrow.”

The British king has said that he and wife are deeply saddened by the heartbreaking incident and they wanted to extend deepest sympathy and condolences to all the bereaved families and to those who have lost their loved ones.

“I remember with the greatest fondness my visits to Nepal and the many remarkable Nepalis I have met both there and around the world. And I know that Nepal is held in the highest regard by many people in the United Kingdom who stand in solidarity with your country at such a time of national mourning,” the king says in the letter.

He has also offered support to Nepal. “Please be assured that you have our most resolute support,” says the king in the letter.

British Ambassador to Nepal Nicola Pollitt has confirmed the letter and said that she has communicated the king’s message to Nepal president. “As a mark of the sadness we all share with Nepal after Sunday’s tragic air crash in Pokhara, I conveyed a message of condolence from His Majesty King Charles to President Bhandari today,” Pollitt wrote on Twitter.

Bangladesh to hold presidential poll by Feb. 23: election commission

Posted on by SAT News Desk

DHAKA — The presidential election of Bangladesh will be held by Feb. 23, the Election Commission (EC)’s secretary Md Jahangir Alam said here on Sunday.

He made the announcement at a news conference Sunday evening at his office, saying the incumbent president Abdul Hamid is not to be re-elected for another term, as the country’s constitution allows a maximum of two terms for a person in the post.

Hamid’s tenure will expire on April 24.

Alam said the schedule for the presidential election will soon be announced. (Xinhua)

India calls BBC Modi documentary ‘propaganda,’ BBC calls it ‘rigorously researched’

Posted on by SAT News Desk

NEW DELHI: A BBC documentary that looks into Prime Minister Narendra Modi’s role during communal riots that wracked the western Indian state of Gujarat in 2002 has been criticized by the Indian government as a “propaganda piece” while the broadcaster has said its two-part series was “rigorously researched.”

The BBC says India: the Modi Question “examines the tensions between India’s Hindu majority and Muslim minority and explores the politics of Mr. Modi in relation to those tensions.” The first part was broadcast in Britain on Tuesday, while the second will be aired next week.

The communal riots erupted in Gujarat when Modi, who became India’s prime minister in 2014, was the state’s chief minister. More than 1,000 people, mostly Muslims, died in the violence that broke out after a train carrying Hindu pilgrims was set on fire, killing dozens.

The documentary highlights an unpublished report that the BBC said it obtained from the British Foreign Office. The report had, according to the broadcaster, raised issues over Modi’s actions during the riots and claims that he was “directly responsible” for the “climate of impunity” that enabled the violence.

“The bias, lack of objectivity and continuing colonial mindset is blatantly visible,” Indian External Affairs Ministry spokesperson Arindam Bagchi told reporters in response to questions at a press briefing Thursday. Questioning the motives behind the documentary, he said it was “designed to push a particular discredited narrative.”

“It makes us wonder about the purpose of this exercise, the agenda behind it and frankly we do not wish to dignify such efforts,” Bagchi said.

India’s western state of Maharashtra Chief Minister Eknath Shinde, right, and his deputy Devendra Fadnavis, left, present a garland to Indian Prime Minister Narendra Modi during a rally in Mumbai, India, Jan. 19, 2023.

In 2012, an inquiry by India’s Supreme Court had exonerated Modi for any complicity in the riots, including charges that he had told police officers not to restrain the rioters. Last year, the top court also dismissed a petition that questioned his exoneration.

A day after the Indian government’s sharp criticism of the documentary, the BBC said in a statement that the program was “rigorously researched according to highest editorial standards.”

The British broadcaster said that “a wide range of voices, witnesses and experts were approached and we have featured a range of opinions, including responses from people in the BJP [Modi’s Bharatiya Janata Party].”

The statement also said that it had offered the Indian government an opportunity to reply to the matters raised in the series, but the government declined.

The BBC statement said the company was “committed to highlighting important issues from around the world.”

In response to a question on the documentary by British lawmaker Imran Hussain in Parliament on Thursday, British Prime Minister Rishi Sunak said that “we don’t tolerate persecution anywhere” but added that he “did not agree with the characterization” of the Indian prime minister.

VOA

Alarming rise in deaths of Rohingya refugees fleeing by sea

Posted on by SAT News Desk

GENEVA: The U.N. refugee agency, the UNHCR, has recorded an alarming rise in the death toll of Rohingya refugees while attempting dangerous sea journeys in the Andaman Sea and the Bay of Bengal in 2022.

At least 348 people died or disappeared while fleeing Myanmar or Bangladesh by sea last year, making it one of the deadliest years since 2014. That was when more than 700 people reportedly lost their lives or disappeared in a desperate bid for protection from persecution.

The U.N. refugee agency says more than 3,500 Rohingya attempted perilous sea crossings in 2022. Some 700 people made similar journeys the year before.

UNHCR spokeswoman Shabia Mantoo said the dramatic increase in the number of people willing to risk their lives smacks of despair among a population that sees no way out of its misery.

“We are hearing reports, as we mentioned, from Rohingya about this growing sense of desperation and this anxiety about the future. And really no hope for security, for protection,” Mantoo said. “Some of them are willing to reunite with family members. Others, their vulnerabilities are being exploited by traffickers or smugglers luring them with both promises and false hope.”

Mantoo said most of the 39 boats that made the dangerous sea journey last year departed from Myanmar and Bangladesh, highlighting the sense of desperation among Rohingya in those two countries.

In the last two months of 2022, she said four boats carrying more than 450 Rohingya disembarked in Aceh, Indonesia, and another boat carrying 100 people disembarked in Sri Lanka. She said one boat, carrying 180 Rohingya Muslims, is feared to have sunk in early December.

“Calls by UNHCR to maritime authorities in the region to rescue and disembark people in distress have been ignored or have gone unheeded with many boats adrift for weeks … UNHCR repeats its call for prompt search and rescue and timely disembarkation in a place of safety, and for support to countries where Rohingya refugees are disembarked,” Mantoo said.

In August 2017, more than 750,000 Rohingya Muslims subject to violence and persecution in Myanmar fled to Cox’s Bazaar in Bangladesh. They are living in overcrowded camps along with hundreds of thousands of other refugees who previously had fled from Myanmar.

The UNHCR says conditions in Myanmar have not improved and it is not safe for them to return to a country that views them as illegal immigrants and denies them citizenship.

(VOA)

Indian gov’t calls for efforts to reduce road accidents by 50 pct by 2025

Posted on by SAT News Desk

NEW DELHI — Indian Minister for Road Transport and Highways Nitin Gadkari said efforts by all were necessary to reduce road accidents by 50 percent in the country by the end of 2025.

According to a statement issued by the road transport and highways ministry on Wednesday, the minister said a law will soon be brought into the country to determine the working hours of truck drivers.

“Let us make a resolution that we all will participate in the road safety campaign and before the end of 2025, we will contribute toward reducing 50 percent of accidents and 50 percent of deaths,” Gadkari said.

“By obeying road safety rules let us save our lives and those of the people.”

The ministry said it was committed to a reduction in road fatalities and injuries and has undertaken multiple initiatives across all 4Es of road safety, i.e., Engineering, Enforcement, Education and Emergency Care.

Road Safety Week was observed in India from Jan. 11 to 17 to propagate the cause of safer roads for all.

Deadly road accidents are common in India, often caused by overloading, bad condition of roads and reckless driving.

Around 150,000 people are killed every year in around half a million road accidents across India, officials said. (Xinhua)

Ophthalmologist from Nepal Dr Sanduk Ruit wins top civilian award of Bahrain

Posted on by SAT News Desk

BNA, Bahrain — Nepalese ophthalmologist Dr Sanduk Ruit has been selected as the winner of the fifth edition of the Isa Award for Service to Humanity.

The winner was announced at a press conference by Shaikh Mohammed bin Mubarak Al Khalifa, Special Representative of His Majesty the King and Chairman of the Board of Trustees of the Isa Award for Service to Humanity, said a Bahrain News Agency report.

Dr Ruit is world-famous for devising a new method for treating cataracts. He was also able to develop a new lens implanted inside the eyeball that could be produced at a much cheaper price than its counterparts. This has helped him in performing cataract surgeries in less than five minutes during which he removes the cataract without stitches through small incisions, and replaces them with a cost-effective artificial lens.

He was able to treat more than 120,000 patients with avoidable blindness for free.

Shaikh Mohammed stressed that the award embodies a living memory of the late Amir and his noble legacy in service to humanity, and showcases His Majesty the King’s commitment to further instilling humanitarian work and celebrating it across the globe.

He highlighted that since its inception in February 2009 and through its five sessions, the award has confirmed Bahrain’s firm commitment, under the leadership of HM the King, and with the support His Royal Highness the Crown Prince and Prime Minister, to upholding the values of tolerance and coexistence. 

Isa Award for Service to Humanity Secretary General Ali Abdullah Khalifa said 145 candidates from across the world had applied for the award in its fifth session 2021-2022 and 139 applicants were accepted after validating their applications. 

The applications were then shortlisted to five, in accordance with the terms and conditions of the award. He outlined that the Board of Trustees dispatched a field team to visit the locations of the five short-listed applicants to evaluate their conformity with the criteria of the award.

World’s richest 1% ‘grab two-thirds of global wealth’: Oxfam

Posted on by SAT News Desk

LONDON: As the annual World Economic Forum (WEF) gets underway this week at the Swiss ski resort of Davos; the charity Oxfam says extreme wealth and extreme poverty have increased simultaneously for the first time in 25 years – and is calling for fairer taxation in response to the soaring inequality.

Hundreds of billionaires, dozens of government ministers and central bank governors are due to attend the WEF, widely seen as a get together for the global super rich. In its report, “Survival of the Richest,” published Monday, Oxfam says the world’s billionaires are becoming richer.

“Davos is back in January. The festival of wealth is back. And we’re bringing alarming new findings which show that the one percent, the richest one percent in the world have grabbed nearly two-thirds of all new wealth created since 2020,” Oxfam America’s director of economic justice, Nabil Ahmed, told VOA.

Pandemic profits

Oxfam says the source of that wealth is partly government money: emergency liquidity pumped into the global economy as the coronavirus pandemic forced countries into lockdown in 2020.

“That was essential. But at the same time the ultra-wealthy were able to really ride this asset boom that resulted, the stock market boom that resulted. And without the guardrails of progressive taxation in the economy, the ultra-wealthy were really able to line their pockets,” Ahmed said.

Inflation

Oxfam calculates that at least 1.7 billion workers now live in countries where inflation is outpacing wages, meaning people are becoming poorer. The wealth of billionaires, however, has surged as inflation drives up food and energy prices.

“The current cost-of-living crisis, with spiraling food and energy prices, is also creating dramatic gains for many at the top. Food and energy corporations are seeing record profits and making record pay-outs to their rich shareholders and billionaire owners. Corporate price profiteering is driving at least 50% of inflation in Australia, the U.S. and Europe, in what is as much a ‘cost-of-profit’ crisis as a cost-of-living one,” the Oxfam report says.

“We were able to show how 95 food and energy corporations have actually been able to double their profits in 2022,” the charity’s Ahmed told VOA.

Fair taxes

Oxfam is calling for windfall taxes imposed on energy companies to be extended to food companies making big profits. It also wants a tax of up to 5% on the world’s multimillionaires and billionaires.

“The spectacular rise of wealth and income at the very top has coincided with a collapse in taxes on the richest 1%. While there are differences between countries, the general trend towards lower taxes for the rich has been remarkably similar across all regions of the world,” the report says.

“Extreme inequality is not inevitable,” Ahmed told VOA. “This isn’t about nurses, teachers, the middle class. This is really about those at the very top, ensuring that they’re paying far fairer taxes.”

Solutions

The president of the WEF maintained that the annual Davos summit does benefit the whole world.

“So much is at stake, we really need to find solutions on the wars and conflicts. We also have to secure that we don’t go into a recession, and we have 10 years of low growth, as we had in the 1970s. That is at stake, and we need all the stakeholders to be part of working towards a safer and more inclusive growing global economy,” World Economic Forum President Borge Brende told The Associated Press.

(VOA/Some of the information in this report came from The Associated Press)

British envoy meets PM Dahal of Nepal

Posted on by SAT News Desk

Kathmandu: British Ambassador to Nepal, Nicola Pollitt, paid a courtesy call on Prime Minister Pushpa Kamal Dahal ‘Prachanda’ today at Baluwatar.

During the meeting, they exchanged views on further deepening the bilateral relations between the two countries.

RSS adds that, various topics related to bilateral relations were discussed in the meeting that took place at the Prime Minister’s official residence at Baluwatar, PM Prachanda’s Secretariat has said.

Pakistan’s economy weakest in South Asia, says World Bank

Posted on by SAT News Desk

Washington DC: Pakistan’s economic growth will slow further to 2 per cent during the ongoing year will lead to South Asia’s weakest economy, the World Bank said. This will mark a drop of two percentage points from its June 2022 estimate.

The Global Economic Prospects report of WB said that Pakistan’s economic output was not just declining itself but also bringing down the regional growth rate as well.

The report also said that a herculean effort will be required to pull Pakistan out of poverty.
This pace reflects still robust growth in India, Maldives, and Nepal, offsetting the effects of the floods in Pakistan and the economic and political crises in Afghanistan and Sri Lanka. The deteriorating global environment, however, will weigh on investment in the region,” the report said, pointing to a “sharp, long-lasting slowdown” with the global growth expected at 1.7 per cent this year.

Pakistan’s GDP growth rate to improve to 3.2 per cent in 2024, adding, “Policy uncertainty further complicates the economic outlook” of Pakistan, the report reads.

“Recovery and reconstruction needs are expected to be 1.6 times the FY2022-23 national development budget,” the World Bank said.

Pakistan’s forex reserves have hit a new low of USD 4.6 billion that would be barely adequate to pay for foreign bills for three weeks. Analysts have put the country’s need for relief at USD 33 billion.

The shortage of dollars has been drastically hurting the economy and diverting remittances from the legal banking channel to the grey market.

According to a report by Dawn, bankers believe that Pakistan would soon notice shortage of petroleum products along with basic essential including food items.

In Pakistan, soaring prices of basic food items have been burning hole in the pockets of people.

Wheat, which is an essential staple food of Pakistanis, is barely in reach for many locals. Its prices have surged over 57 per cent, while the cost of wheat flour also saw an increase of 41 per cent, the Pakistan Bureau of Statistics said.