De-dollarisation. Can the dollar survive it?

Last year, at the Valdai International Discussion Club meeting attended by hundreds of experts and politicians, Rasigan Maharajh asked Russian President Putin what a democratic alternative to the current international system of payments and settlements might be. Putin responded that the United States established the Bretton Woods system after World War II, which created international institutions in finance and international trade. However, this system has broken down because the US uses the dollar to fight for its political interests, undermining trust in reserve currencies.

Foreign countries are now questioning whether keeping foreign currency reserves in dollars is wise. Still, the US has created a robust system that supports these reserves, making it difficult to get out. Over five days in March 2023, three small- to midsize US banks failed. One can easily question now if it is safe to continue saving money in dollars.

The uncertainty of the global market has heightened the importance of having a diversified portfolio. Gold has traditionally been a haven for investors amidst economic turmoil. However, relying solely on gold is also not advisable.Instead, investors should consider forming a well-rounded portfolio combining traditional and alternative investments. Moreover, the recent developments in international trade and finance have brought about the topic of de-dollarisation.

De-dollarisation refers to reducing the dependence of a country's economy on the US dollar. This can be achieved by diversifying the currency reserves of a nation and promoting the use of alternative currencies.
De-dollarisation has been discussed in many countries worldwide due to the US dollar's dominance in global trade and finance.

De-dollarisation is necessary for many countries to reduce their vulnerability to economic shocks. The dollar's power in worldwide business and finance poses significant risks to governments, particularly those with currencies pegged to it. A sudden US dollar exchange rate fluctuation can severely affect a country's economy.

Every nation has learned a hard lesson from the SriLank and dollar turmoil. Diversifying currency reserves can help mitigate the risk of sudden economic shocks caused by US dollar exchange rate fluctuations.

Promoting alternative currencies can open up new markets and trade opportunities for countries that may have been limited by using the dollar. Iraq has already decided to abandon the US dollar, abold move. Countries like India and Bangladesh are exploring the possibility of using local currencies in their business. At the same time, Russia has billions of rupees in Indian banks due to international sanctions.
However, the situation arises not from a lack of goodwill but due to significant trade imbalances. BRICS countries can only partially liberate their currencies due to their heavy reliance on exports.

The problem is both India and China rely on theUS dollar for their exports, which are pegged to the US dollar. This raises an essential question for those who have savings in dollars. Is it safe to continue saving money in dollars? Would it be wise to contemplate investing in gold in these circumstances? In the case of Nepal, there may be better options than de-dollarisation. Nepal heavily depends on re-mittances from its citizens working overseas; a significant portion of those remittances are sent in US dollars. Additionally, the US dollar is widely accepted and used in international trade, making it a virtual currency for Nepal's economy.

India is looking to diversify and internationalise the Indian rupee. However, the rupee may dive deeply if it becomes a convertible currency. During his addresses at a community programmeorganised in Sydney, Australia Indian Prime Minister Modi talked about the impact of the UPI (United Payment Interface) and expressed hope that digital transactions would surpass cash and go global.

An agreement with UPI and all payment system providers and operators in Nepal will not only boost trade between the two countries but also make it easy to carry out cross-border transactions.
Instead of de-dollarisation, Nepal can explore innovative solutions for diversifying its currency reserves and promoting economic growth. One option could be to explore digital currencies, such as Bitcoin or other cryptocurrencies.

Cryptocurrencies can provide alternative payment solutions and encourage trade between countries without a single dominant money. Another option which many central banks, including the NRB, are currently working on is CBDC — Central Bank Digital Currency. CBDCs give central banks more oversight and control over currency supply and circulation. The government typically backs these currencies, and their value is pegged to a national currency. CBDCs are generally not decentralised, and digital forms of fiat currency are issued and controlled by central banks. In contrast, blockchain is a decentralised currency that records and secures digital transactions.

Many experts argue that there may be some benefits of the CBDC, but the drawback outweighs the benefits. Another option Nepal can explore is promoting its local currency, the Nepali rupee, in international trade. This can be achieved by offering incentives to businesses that conduct transactions in Nepali rupees or by promoting Nepali rupees as an alternative currency for remittances.
The global economic system must avoid being dominated by a single currency.

Diversifying currency reserves and promoting alternative currencies can reduce financial vulnerabilities and encourage economic growth. Despite de-dollarisation's challenges, it is a necessary step for many countries. Countries must reduce their vulnerabilities to economic shocks and promote financial stability and growth. The de-dollarisation process should, therefore, be done gradually.

Published: The Himalayan Times
Nepal's leading daily newspaper

Human trafficking

Several years ago, Rajesh Hamal, often called the "Maha Nayak", graced Finland with a visit. Proud and curious, he was surprised by the proliferation of Nepali restaurant owners in the country. But little did he know, behind the tantalising aroma of food, a sordid scheme was unfolding. Some restaurant owners had resorted to trafficking people from Nepal, forcibly subjecting them to modern-day slavery in harsh work environments without access to necessities like food, shelter or medical treatment.

Human trafficking is a nefarious industry with far-reaching implications. Nepal, in particular, has been grappling with the debilitating scourge of human trafficking for decades. Countless Nepalis fall victim to the clandestine horrors of labour exploitation and sex trafficking across and within the country's borders.

Human trafficking has appalling effects on victims - especially women and children - including physical, emotional and psychological harm. Sexual exploitation results in unimaginable traumas such as rape, violence, and abuse. Labour exploitation subjects them to physical and emotional abuse, long hours and sub-standard pay. Adversely impacting victims' lives is inhumane and has significant economic repercussions at both individual and national levels. It exacerbates the impoverished circumstances of trafficked persons, aggravates their struggle to reintegrate into society and hampers national productivity and economic growth.

 

In July 2019, a task force headed by Bal Krishna Panthi was initiated by the government under the coordination of KP Sharma Oli to inspect the registration process for Bhutanese refugees. But sadly, it didn't take long for a fraudulent gang to take advantage of the situation. Operating across various districts, they duped Nepalis by soliciting money in exchange for bogus registration as Bhutanese refugees with plans to transfer them to the United States. Their scheme attracted several gullible participants, who paid staggering amounts ranging from Rs 1 million to Rs 5 million.

It was discovered that the fraudsters added names to the report commissioned by the task force and distributed copies to their victims to gain their trust. It's distressing how some unscrupulous individuals' greed wreaked havoc upon the lives of others, trafficking them in the false hope of a better future.
 

In conclusion, human trafficking in Nepal disproportionately affects vulnerable groups. Despite the government and international organisations' interventions, more efforts are necessary to develop a sustainable solution to eradicate this horrendous crime.

Published: The Himalayan Times
Nepal's leading daily newspaper

Democratic breakdown

Remember the FIFA World Cup scene when Kylian Mbappe ignored French President Emmanuel Macron when he tried to console him after France's heartbreaking penalty shootout loss to Argentina? Now, the French President has decided to implement highly debatable and controversial retirement reforms to address millions of French citizens' issues.

However, there is mounting pressure as violent demonstrations have occurred. Hundreds of security forces were injured, thousands of people were arrested, King Charles III's visit to France was postponed, and thousands of fires were lit around Paris a few days ago.

Macron unilaterally increased the retirement age from 62 to 64 using special presidential powers, which has resulted in his citizens' dissatisfaction with his decisions. Macron is also criticised for being the "president of the rich". A democratic system created to avoid another revolution has ironically resulted in the formation of conditions that could lead to a violent uprising.

 

The current system is based on a capitalist model designed to benefit the wealthy and powerful.
This system has created a large gap between the rich and the poor. The wealthy have access to resources and opportunities that the poor need access to. This inequality has led to injustice and frustration among the lower classes, who feel they are not treated fairly. The lack of economic opportunity and the feeling of being left behind have caused many people to become disillusioned with the current democratic process and system.

Political demonstrations include marches, rallies, sit-ins, or protests happening worldwide, not just in our country. Some Western countries are tired of mass immigration, economic shocks, dirty elections, the Ukraine war, low wages, and what they see as unnecessary lockdown controls.

Democratic breakdown and decline occur when there is no direct participation of the people, and issues are brought up top-down. In a democracy, any controversial idea or topic must go through a referendum, a bottom-up process. Constitutional reform should occur through the people's referendum instead of by presidential powers or amending top-down constitutions.

If we, the people, are unhappy about our current political set-up, we should ask for a people's referendum, which would result in constitutional reform. For example, suppose Nepal wants a king as a part of a democratic government. In that case, the people should decide from the bottom up, not by presidential powers or amending the constitution (topdown).

While some democratic and political experts have criticised referendums for disguising populism, they should still be included in decision-making. However, dictators like Hitler and Mussolini have used referendums to hide oppressive policies as populism.

Using militarised troops against citizens without gaining public support is antithetical to democracy, as demonstrated by Macron's handling of the Gilets Jaunes or Yellow Vests protests.

Published: The Himalayan Times
Nepal's leading daily newspaper

Can Nepal benefit from a king?: Let the people decide

Many people oppose the idea of a king, believing it would be an exercise in oppression and a restriction of rights. People should decide if they want a king

After the statement released by former King Gyanendra Shah on Democracy Day, KP Sharma Oli said, "Gyandendra Ji is in a dilemma. In the last 240 years, kings and monarchy did nothing for the nation. Did they develop in comparison to the Scandinavian nations or other nations..."

Oli is right, Nepal was not like a Scandinavian nation back then, nor will it ever be. The development made by the monarchy when King Mahendra was in power can never be compared to the development these political parties have made in the last 30 years.

The nation's political parties, including the Maoist, CPN-UML and others, have done excellent work by looting the nation's treasury and robbing banks and financial institutions, beseeching in front of foreign powers and diplomats.

Thousands of widespread scandals, which the biased Nepali media will never write about since most of them are partly funded by these parties.

Nepal has been ruled by a hereditary monarchy for centuries, but with tremendous changes and upheavals in recent decades, the question of whether or not to keep the king is a source of debate. On the one hand, some people argue that a king provides much-needed stability, continuity and a sense of national identity to Nepal. They claim monarchy symbolises national unity and is a bridge between the country's past and present. Additionally, they say the monarchy has traditionally provided stability and continuity, allowing the government to maintain its cultural identity and traditions and unify the country despite ethnic, linguistic and religious differences.

 

On the other hand, many people believe that the king's power is no longer necessary and could even be damaging to the country's progress. No matter which side of the debate one falls on, the question as to whether the monarchy will benefit the country or not is complex and challenging.

Nevertheless, the decision will ultimately shape the nation's future, and all voices must be heard before reaching a conclusion.

Many people oppose the idea of a king in Nepal, believing it would be an exercise in oppression and a restriction of rights. However, the people of Nepal should decide if they wish to have a king and what form of government they desire.

The monarchy is a relic of a past era. Its continued existence is seen as a sign of inequality and subjugation of the less fortunate. But ultimately, the people should be the ones to decide what type of government will best represent their interests.

The debate over the necessity of a king in Nepal has been intensifying in recent years. The abolishment of the monarchy in 2008 and establishment of a secular and democratic republic resulted from a popular movement. Despite this, the presence of a royal figure has been integral to the government and politics of countries like Denmark, Sweden and the United Kingdom for centuries.

While the role of a king can signify power and prestige, it can also be beneficial in specific contexts. For example, a king's special forces may influence the nation's direction and shape the country's future.

As the discussion surrounding the need for a king in Nepal continues, it is crucial to consider the implications of such an appointment and its potential benefits to the country.

Recently I visited Denmark, a Nordic country, where I saw that the Queen was an important figure in the government. She was seen as an important figure in Danish society, and the Danish monarchy is one of the oldest in the world.

Queen Margrethe II (born 1940) has been Denmark's reigning monarch since 1972.She had the power to appoint government officials, sign legislation, and even declare war. She is also seen as the head of state and a symbol of national unity.

In Sweden, the King, Carl XVI Gustaf, had a similar role. Still, the focus was more on the economic and social aspects of the country.

In addition, he can appoint government officials and sign the legislation. In the United Kingdom, King Charles III was more focussed on the symbolic aspects of the country. He was seen as the head of state and was responsible for unifying the country and leading the nation in times of peace and prosperity.

The King can appoint government officials and sign the legislation.

These examples of kingship provide an interesting comparison to Nepal, which has a long history of the monarchy. Still, the current political system is a democratic republic. Nevertheless, many pundits and experts believe it was bought by the influence of the 12-point agreement signed in New Delhi.

Is it possible for Nepal to benefit from a monarchy? After all, the country has a deep-rooted history of kingship. Moreover, a monarch could bring a sense of national unity and economic and social stability.

Nepal is facing a tumultuous political climate, and it may be time to get back the king. Not only would the king provide strong leadership, but he could also act as a symbol of unification, reminding the people of their shared values and history.

Perhaps, the monarchy could help protect the nation's forests, resources and culture, providing fast economic growth and a development environment. Subsequently, the monarchy could bring stability and a greater sense of continuity while at the same time promoting democratic principles.

Ultimately, the monarchy may be the key to Nepal's success and a way to reaffirm its place in the world. The rule of the king in Nepal can bring many advantages to the country.

Nevertheless, collaborating with the current political parties would be a challenge.

Giving citizens a system of governance open to their input allows them to express their opinion and help determine their nation's future. Furthermore, this system enables the open exchange of thoughts and encourages people to participate in political activities.

Ultimately, it is up to the Nepalis to decide on the direction of their nation, independent of any external influence or agreements.

Published: The Himalayan Times
Nepal's leading daily newspaper

Türkiye-Syria quake

While visiting a family friend, one of my Turkish friends experienced an earthquake.
He said that it was a horrifying experience. He was in the middle of a conversation with his aunt when the ground started to shake, and the walls began to rattle. They all ran outside and watched as the buildings swayed back and forth. He said that it seemed to last forever.

After the shaking stopped, they hugged each other and thanked God for being safe. Turkey is no stranger to earthquakes, having experienced several significant earthquakes in the past. The most recent quake last week, however, was of magnitude 7.8 that struck the southern and central parts of the country while people were sleeping. Many have reported that the second 7.5-magnitude tremor was not an "aftershock". This earthquake has caused significant damage and loss of life - more than 22,000 people killed and many more injured.

I was horrified when I saw the videos of buildings collapsing in Turkey and Syria. It felt like a movie scene, with people running for their lives as these vast structures, some as tall as 12 stories, came crashing down.

The destruction is unimaginable, with roads destroyed and mountains of rubble everywhere. The quake experience stays in our hearts, ready to strike again with greater force. Memory looms with the potential to return. We suffered a similar fate in the 2015 Gorkha Earthquake, which had a magnitude of 7.8 and killed over 9,000 people. Yet, the destruction it caused was much more significant.

The Nepal earthquake occurred d in a mountainous region, while the recent earthquake in Turkey occurred in a more populated area. This means that the destruction caused by the quake is more widespread, with more people affected.

In the last decade, only two earthquakes have been as devastating in any given year. As a result, a "level four alert" has been declared to appeal for international aid by the Turkish government. WHO has cautioned that casualty figures could rise as rescue teams continue to search for survivors amidst the debris. In addition, the recent earthquake in Turkey may impact the country's economy (the Turkish lira going record low, the stock market falling, and infrastructure damages).

The people of South Turkey and Syria are in desperate need of help. Every second counts in the search for survivors. Everyone must act now to save lives and build a more substantial infrastructure to prevent this from happening again.

My Turkish friend described the quake as "the end of the world". He was familiar with seismic activity in the area, but this one was unlike anything he had ever experienced before. He said it was a terrifying experience and reminded him of how fragile life can be.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

State of anomie

Prem Prasad Acharya, a businessman hailing from Illam District, took his own life last week by committing suicide in front of the Nepali Parliament.

Meanwhile, the Supreme Court's recent decision has rendered Rabi Lamichhane, chairperson of Rastriya Swatantra Party (RSP), stateless.

I watched a television interview of Swarnim Wagle. He emphasised one word when talking about the Prem Acharya case, that is, "anomie", which I feel fits very well in the current context of our nation. Anomie is a concept developed by French sociologist Emile Durkheim in his 1897 book "Suicide".
It is a condition in which society lacks or provides little or no moral guidance to individuals, resulting in fragmentation, a sense of isolation and alienation, a state of hopelessness.

 

Durkheim argued that anomie is caused by the breakdown of social norms and values in modern societies and can result in behaviours such as crime, suicide and a lack of social integration.

These incidents suggest that Nepal may become a state of anomie when the collective sense of purpose and belonging fades away, and the social norms governing behaviour and group cohesion erode.
This can occur when our government fails to provide its citizens with security, stability, equity, hope and social justice.

As a result, people may become discouraged and disenchanted with their government's policies, leading to a breakdown in trust and an erosion of social norms. In such a situation, individuals may become increasingly disinterested in the collective needs of their nation and instead focus solely on their self-interests. This may make individuals feel alienated and disconnected from their government, leading to a feeling of anomie.

We may ease and mitigate and not become a state of anomie by implementing policies that ensure a sense of belonging to its citizens. This can involve creating a sense of safety and security for its citizens, providing economic and educational opportunities, and fostering a sense of community by investing in civic engagement initiatives, such as providing public spaces for citizens to come together and share their ideas and volunteer opportunities.

Additionally, a nation must ensure that its citizens have equal access to resources and opportunities regardless of race, gender, or other societal constructs.

This lack of a collective ambition for our country could be combatted by strengthening social ties and a sense of shared values and norms. Traditional societies often rely on a sense of community and collective purpose to prevent anomie. Still, it cannot be accessible when there is no established system to do so.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

Frequent plane crashes

On the 15th of January, on Maghe Sankranti, a passenger plane carrying 72 people crashed near the newly inaugurated Pokhara International Airport. I am not an aviation expert, but what I have heard from some informal witnesses' reports suggests that the pilot diverted the plane to the gorge to save a human settlement because of engine failure. When we think of the plane crash in 2023, it feels like it is a dark spot regarding technological advancements.

Nepal has a history of frequent plane crashes, with several factors contributing to the high rate of accidents. One of the other high-profile crashes occurred in March 2018, when a US-Bangla Airlines plane carrying 71 people crashed while attempting to land at Kathmandu's Tribhuvan International Airport. The crash, which killed 51 people, was found to be the result of pilot error and poor communication between the pilots and air traffic controller.

These incidents, along with several other crashes and near-misses in recent years, have raised serious concerns about the safety of air travel in Nepal. The country's small and poorly-maintained airports and lack of proper safety regulations and oversight have been identified as major contributing factors to the high number of crashes.

The government has taken steps to address these issues, including upgrading infrastructure at airports and implementing stricter safety regulations. However, many experts believe that more needs to be done to ensure the safety of air travellers in Nepal.

One major issue is the lack of proper aircraft maintenance; many crashes were caused by poor maintenance of the planes, and pilot error, often due to a lack of adequate training. In addition, many of the airlines in Nepal are small, and they often need more resources to maintain their aircraft correctly. This can lead to mechanical failures and equipment malfunctions.

One major factor is the challenging terrain in Nepal. This further exacerbates the problem of inadequate safety measures. Despite these challenges, it is essential to note that air travel is still the most efficient and reliable way to travel within Nepal, especially in the remote areas. But the government and the related authorities need to improve the safety measures and the airlines to avoid frequent plane crashes.
The government and the aviation industry must proactively address the safety issues in Nepal's air travel if it ever wants to get out of the EU air safety blacklist. By investing in better training, equipment and infrastructure, the government can help to ensure the safety of air travelers in Nepal and help prevent future plane crashes.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

ChatGPT: And the rise of artificial intelligence

Welcome. We are now in 2023. Last year in 2022, in a recent television interview after the Nepali general election results, the Maoist leader Pushpa Kamal Dahal said he was surprised by the election results and the leading cause. And he said, "We cannot win the election just by stating we are working on making big infrastructure projects and political agendas for the country, but it seems we win if we have enriched the IT sector and know how to use social media better".

It is good that our Nepali politicians are now talking about the importance of the IT sector, digitalisation and the rise of social media in our country. ChatGPT is one AI-based viral IT project recently launched by OpenAI, an AI research and deployment company which has caught the Internet by storm. ChatGPT is the best chatbot released to the general public, with over a million people using it within five days.

ChatGPT and the rise of AI is a new hotcake, and people from Twitterverse to Youtube and social media are talking about this now.

In addition, there is a chatter that people's jobs are at stake and may impact various sectors, from the public, judiciary, journalism, human rights to health and agriculture, among many other industries and vertical sectors.

ChatGPT can write an article and is good at answering questions you can commonly ask, giving suggestions and predictions about who will win the next elections. It can also help software programmers spot and fix errors in their code.

The next wave in IT is artificial intelligence. Unfortunately, most chatbots we see are mainly "stateless", meaning they don't comprehend previous questions, e.g., your Siri in Apple iPhone or Alexa from Amazon. However, ChatGPT seems to remember the prior conversation, which may lead to innovation and a boom in Personalized Stress and Therapy Bots.

ChatGPT could be better, but currently, it is not perfect. The ChatGPT doesn't crawl the web for information, and its knowledge is restricted to things it learned before 2021, as a large language model is trained by OpenAI. Its training data include books, articles and websites on various topics.

Therefore, it has yet to have information about recent events or developments since then. It also cannot browse the Internet as it cannot provide information by looking up specific information. So expect it to answer questions only in its training data.

Research conducted by The Accenture Institute for High Performance shows that by 2035, the US will grow by 5 per cent compared to the present 3 per cent because of the use of AI technologies. However, in the Nepali market, only a few companies are working in the AI sector (for example, waiter robots).We have yet to move to avoid long queues or go paperless in public sectors, and there is a shortage of "digitalisation" in most public and private sectors.

Nepal needs more policy-level intervention in AI, but using AI-based technologies in banks and health sectors shows that Nepal is still catching up in technological advancements. Nevertheless, we may benefit from the rise of AI and must adopt our policy accordingly by investing in this emerging field.

There are many forms of AI, and the exact number can vary depending on how AI is defined and classified.

Some common forms of AI include machine learning, natural language processing and robotics. Machine learning is a type of AI that involves training algorithms on large datasets to make predictions based on the data. This can include image recognition, speech recognition and language translation. Natural language processing is a type of AI that involves understanding and generating human language. This can include language translation, text summarisation and sentiment analysis.

Robotics is a type of AI that involves the design and control of robots. This can include tasks such as navigation, manipulation and object recognition. There are also many other subfields and applications of AI, such as computer vision, deep learning and evolutionary computation. The field of AI is constantly evolving and growing.

The AI that ChatGPT uses is based on unsupervised and semi-supervised machine learning algorithms, incredibly generative AI models that are diverse. For example, they can take images, longer text formats, emails, social media content, voice recordings, programme code and structured data. In addition, they can output new content, translations, answers to questions, sentiment analysis, summaries, and even videos.

AI is a powerful technology that has the potential to improve many aspects of our lives, such as healthcare, transportation and education. However, AI has limitations and can only solve some of humanity's challenges where sustainability is the key.

One of the critical limitations of AI is how good the quality of data and algorithms it is trained on is. This means that AI systems can only make predictions based on the information they have been given. Another limitation of AI is that it is incapable of creativity, empathy or other uniquely human traits. AI systems are designed to perform specific tasks, and they cannot think outside the box or understand complex human emotions.

A coalition of the CPN (Maoist), CPM(UML) and the National Independent Partyhas now formed a new government. Good that our politicians and policymakers are also starting to talk about using digital technology. The sooner they realise the rise of "digitalisation" and the importance of the IT sector's role, the better it can boost the economy and provide better service delivery in Nepal.

Overall, while AI has the potential to help us solve many problems, it is only capable of solving some of humanity's challenges on its own. Therefore, it is essential to use AI responsibly and in combination with other technologies and approaches to achieve the best results.

Published: The Himalayan Times
Nepal's leading daily newspaper

What a game

On December 18th, Argentina made history by becoming the champions after winning against France for the first time since 1986. Captain cool and popularly called "goat", led by superstar Lionel Messi, the team battled its way through the tournament, eventually edging out France in a thrilling match that ended in a penalty kick-out win 4-2.

The entire country of Argentina will now celebrate the World Cup's victory, as the team was seen as underdogs when they lost the game against Saudi Arabia.

The tournament was a roller coaster for the team, which had to overcome several tough opponents, including powerhouse Netherlands and Croatia. But Argentina was able to rise to the challenge and ultimately emerged victorious.

Messi has recreated history in Argentina Football with about a thousand games, 789 goals and 300 assists by winning the La Liga, UEFA Champions League, Olympics Gold, Copa America, and finally, FIFA World Cup 2022.

 

Kylian Mbappe, who is only 23 years old and has scored 12 world goals in 14 games, is the sixthhighest men's World Cup scorer He scored their first hat-trick in the men's final since 1966 and almost led France to the back-to-back title in the final World Cup match.

There may be no winners or losers in the final match as both teams in the Qatari desert showed incredible play, one of the greatest games ever played. France had the better play for much of the second half of the game, and it seemed like they were on track to win the World Cup. Mbappe's penalty kick-out in the extra minute changed everything, sending both countries' supporters into a frenzy.

There was a lot of noise about Messi, Ronaldo, Neymar, and Modric's last World Cup, but who can forget it was also Angel Di Maria's final World Cup? It may be Messi's last game of the World Cup, and Argentina's performance showed there is always hope, and dreams do come true.

The victory is crucial to Argentina, as it is a chance for the country to unite and celebrate something that had been a long time in coming.

Football is a team game, and it is not the individual who wins the matches. In addition, football teaches vital life lessons, such as discipline, perseverance and sportsmanship.

Congratulations to Argentina's World Cup victory, which will be remembered for years. The team's victory is a sign of hope for the future and the upcoming New Year, 2023 — a moment that will be remembered for generations to come.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

No place called home

The term "Sukumbasi" does not directly translate to homelessness; however, it is often used pejoratively for "people living in slums". In general terms, homelessness is a growing problem in Nepal. With the country's population increasing and its economy struggling, more and more people are being forced to be homeless.

According to a recent informal report, an estimated 200,000 people are homeless in Nepal. The causes of homelessness in Nepal are complex and interrelated.

Many inhabitants and people live near the Bagmati riverbank without proper homes and mainly in slums. Poverty and economic inequality are the primary culprits of homelessness.

In addition, a lack of access to education and employment opportunities and limited access to health care contribute to the problem. Other factors include gender-based discrimination, displacement due to natural disasters or conflict, and the country's civil war effects.

 

 

Homelessness is a complex and persistent problem in Nepal, and it is essential that all levels of society – from the government to individuals – work together to address this global challenge. There is an urgent need for more resources, including housing, jobs and health care, as well as targeted measures to reduce poverty and inequality.

To address this issue, it is essential to understand the root causes of homelessness. Many people are homeless due to poverty, unemployment and displacement due to natural disasters or civil conflict.

One solution to this issue is to provide safe and affordable housing for people who are homeless. This could include building shelters or providing access to existing housing. Additionally, it is crucial to provide access to essential services, such as healthcare, sanitation and education. This will ensure that homeless people can access and get the resources they need to live healthy lives.

Another solution is to create job opportunities for those who are homeless. This could include setting up job training and placement programmes and providing access to microloans for starting a business.

Additionally, government programmes such as food stamps and other social safety nets could be used to help those in need.

Finally, it is crucial to provide resources and support to homeless people. This could include providing access to mental health services, addiction treatment, and other forms of support. By providing access to safe and affordable housing, essential services, job opportunities, and resources and support, it is possible to make a difference for those who are homeless in Nepal.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

The Fall

I was reading a short novel by I Camus, "The Fall", which immediately started me to question a visualisation portrayed in the book when Camus sees a crying young woman on the bridge, and he passes by her. The young woman is alone and watches him pass by. He hesitates to turn his head back to her. Finally, after some time, he turns his head and tries to look back at the young woman but cannot see her on the bridge.

The gist of this short story is clear: life may seem absurd; however, never be afraid to talk to someone. Recently, there have been many reported cases of people jumping and committing suicide from the Narayani Bridge in Chitwan, which is alarming. Over August this year, there were reported cases of more than five such incidents where people jumped off the Narayani Bridge. The suicide rate in the country is slowly on the rise. According to some informal estimates, the suicide rate has escalated by 72 per cent in a decade, where about 19 people commit suicide almost every day.

 

WHO reports that more than 700,000 people die of suicide across the globe every year. In addition, the UN says one in four people worldwide is affected by mental health problems, and about 450 million people currently have a mental disorder.

I will not go deeper into the minds of those people having hard times in their lives and the causes behind them. However, you may already be aware that there could be many reasons behind these upticks: mental health, neurological disorder, substance abuse, emotional turmoil, loneliness, chronic diseases, the COVID-19 pandemic, economic woes, migration, urbanizations, and social and financial misbalance, and so on.

There are no easy solutions to suicide and mental health problems, and the suicide solution song by Ozzy Osbourne, which goes "Wine is fine, but whiskeys quicker. Suicide is slow with liquor. Take a bottle, drown your sorrow. Then it floods away tomorrows...", is not going to help either. We don't live in a perfect world. We live in a fragile and sometimes meaningless world where reality is questioned.
Some even question our very existence and argue that we may live in a simulation where there has been a debate about the nature of our reality. As a result, life is hard and killing yourself or feeling like things will never get better may not be the solution.

In conclusion, I argue that, as Camus claims in his novel, men are guilty of something. We are guilty not only of our actions but of our inactions or failure to act. Crimes we fail to stop are just as much our fault as those we commit ourselves. Hopefully, in our general election, we will elect someone who will make mental health issues their priority, not with words but with action.

 

Published: The Himalayan Times (THT)
Nepal's leading daily newspaper

End of our world?

We mark Dashain and Tihar to celebrate the victory of good over evil. But, on the other side of this world, the West and Russia may start a nuclear or winter war, which would be devastating for the new world order after all the COVID-19 sufferings.

The other day, I checked Twitter, and no wonder "World War III" was trending. We live amid this new world order and geo-political crisis. While listening to one of my friend's podcasts, he mentioned that we live in a VUCA (volatile, uncertain, complex and ambiguous) world. Something fishy is happening in this new world order, and it feels heavy what's happening elsewhere.

Recently, the Nord Stream gas pipeline was blasted by an unknown country, and this is the beginning of a "hybrid war" between the West and Russia. And Germany is bracing for an unthinkable scenario - an "energy crisis".

 

Europe is living in difficult times with the Ukraine war still continuing. In addition, there were persistent heatwaves across several countries in Europe. Those heatwaves killed people, and thousands of ordinary people died. Yet several months have passed since the Ukraine war, and Russia is not budging. Instead it has annexed large territories of Ukraine.

Just a few days ago, Putin threatened the West with its tactical nuclear bomb if the West kept interfering in his "special military operation".

Russian President Putin is closely watching what the free world leaders are doing with their strategic, political and so-called "democratic values". No wonder he does not care about the Western sanction, which has failed. All this has resulted in high inflation, and rising food and gas prices can be seen and felt everywhere worldwide, including in our homes.

And Finland and Sweden are in the North Atlantic Treaty Organisation (NATO) ratification process. NATO, however, does not represent only the world power of several developed countries. When its members get involved in a war between two countries, supplying weapons, resources, money, soldiers, and all unseen support, they are also at war with another country without being on "enemy" territory. As a result, it feels as if World War III has already started.

I am unsure if democracy is failing us as the winter approaches or if our discontent will lead to World War III. On the other hand, it looks like as if the free world's leaders are intent on escalating this situation against Russia and China. The very fact that we are flirting with a nuclear conflict with Russia is dangerous, and yet there has been no effort to avoid it in practical ways. Gandhi said, "An eye for an eye makes the whole world blind," and if a nuclear war were to begin that will be the end of this world as we know it.

 

Published: The Himalayan Times (THT)
Nepal's leading daily newspaper

 

Dengue spreads in cities

A European friend wanted to travel to Kathmandu a few months ago when I accidentally met him in a doctor's clinic where he was taking precautionary medicine and injection for dengue and malaria. It is a well-known fact that Dengue cases are rising in the Kathmandu Valley and elsewhere.

Dengue, a mosquito-borne disease, is spread through the bite of an infected Aedes species mosquito with four types: DENV-1 to DENV-4. The identical infected mosquito is also reported to transmit chikungunya, yellow fever and Zika viruses based on reports by the WHO. The incubation period of dengue is between 3-10 days, showing very little or no symptoms like fever, digestive problems, and fatigue. Therefore, it seems that dengue cannot spread directly from person to person, like the COVID virus. However, someone infected can infect mosquitoes, which can infect another human. According to Centres for Disease Control and Prevention, almost forty per cent of the world's population lives in areas at risk of dengue with over 100 countries.

 

Climate plays one of the crucial drivers of the current distribution and incidence of dengue. However, dengue in Nepal is found regardless of climate and weather situations. Dengue is not necessary to spread because of the monsoon season, but the country has also seen the spread in pre- and post-monsoon seasons. Based on the data from EDCD (Epidemiology and Disease Control Division), dengue cases are rising and have been reported in more than sixty districts this year alone. Besides climate, there are other socioeconomic factors at play as well. Examples include unplanned urbanisation, travel, increase in breeding sites, intensive farming, dams, irrigation, poor housing in urban areas and improper solid waste management.

Several campaigns against dengue from 2010 onwards have not been very effective because of a lack of active public participation. Raising awareness and allocating a budget is one thing, but the actual implementation must come from people and the community. Unfortunately, our typical Nepalese nature is not to take things seriously until they battered us.

It isn't easy to eliminate Aedes mosquitoes because of their adaptive nature. However, introducing an "early warning system" can be used to predict and prevent dengue outbreaks with public health interventions. The awareness campaign can start in schools where learners can be taught effective mosquito and repellent strategies. Some preventive measures can include: keeping water containers adequately covered to prevent mosquitoes from entering, regularly cleaning spaces where water is logged and becomes a breeding ground, wearing clothes with full sleeves, or regularly cleaning nearby areas where mosquito eggs might be rotting.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

Electronic Voting

I visited Estonia during the summer break to check on my accountants who were doing the fiscal year closing. My accountant told me that they have the local election, and he was doing online internet-based voting, which excited me to delve into the prospect of such a mechanism.

Elections are the bedrock of democracy; however, it is a costly endeavour. As the Nepali general election will be held on November 20, 2022, the government has allocated about Rs 8 billion for it. Imagine how much we could save if only we invested and created an electronic voting mechanism (EVM).

Many countries are exploring and experimenting with different approaches to enable more streamlined voting that is secure, efficient and auditable. There are some advantages of e-voting, such as increased efficiency and improved accuracy.

Technically, to implement e-voting, we can use e-identification through the banking system to identify a person. Second, we could implement deep facial recognition together with biometrics. Finally, voters can identify with their digital voter ID card through future e-voting platforms. No vote should be recorded for those who could not pass through the eligibility verification process (it should not be that somebody else votes on my behalf). All ballots must be kept confidential during and even after the polling.

Still, there are some disadvantages of e-voting. For example, there is no guarantee if voter turnout will be more or less because of online voting. The technology solution will only make things messy if not done right. And there are high chances that technology is constructed without giving due thought and diligence. As a result, it may inevitably create more problems, so the solution lies in designing the process rather than the tech of e-voting itself. Perhaps, blockchain can provide cryptographic solid verifiability and solutions if appropriately used, which could increase transparency while allowing more fluid and decentralised decision-making.

The government should start a feasibility study on internet and electronic voting, to produce information that can be used to define the premise and possible acquisition of e-voting platforms. Besides, a working group should be formed to collect international experiences related to the digitalisation of elections and monitor such activities in the future.

Every citizen should be allowed to participate through online voting regardless of where they live, travel or work. Possibly e-voting will be the right solution to choose the best candidate and will hit hard on those politicians who are now playing "musical chairs" in the game of politics.

Published: The Himalayan Times
Nepal's leading daily newspaper

Getting Rid Of Garbage Mess For Good

 Many developing countries are presently facing severe environmental degradation and health risk associated with mismanagement of domestic waste. The overall status of garbage problems is now a challenging ecological issue in Katmandu. Over the past decade, the Katmandu Valley has encountered rapid population growth, dumping of garbage near water bodies, unplanned waste disposal, excessive urbanisation, and an imperfect solid waste management system. In addition, issues in the reliable waste management systems have now encountered a lack of public understanding of the stable waste system, unplanned urbanisation, the introduction of environmentally unfriendly commodities, and changing consumer habits.

 

 

Crucial role

The Kathmandu Metropolitan City (KMC) is a tiny area with more than a million individuals. The garbage management system is mainly a door-to-door waste pickup service by KMC. Still, much garbage is unmanaged and ends in rivers or dumped near streets. A landfill site near Kathmandu is said to have already reached capacity despite a spread of over 37.65 hectares. According to KMC, the Kathmandu Valley generates about 853 tons of waste daily and 70,080 tons annually.  The Ministry of Urban Development (MoUD) plays a crucial role in developing plans and policies, including sanitation and drainage. For Katmandu, the KMC Office is the principal jurisdiction in executing the solid waste management (SWM) system. 

The majority of households (89 per cent) want to segregate the organic and non-organic portions of their waste. Lack of proper lining, raw solid waste from the city's dumpsites leaches into river water, causing contamination and degrading the quality of the water. Despite the initial effort made by the newly-elected Mayor of KMC Balendra Shah, city dwellers are still facing many problems due to garbage. Tourists suffer from the bad smell while passing the massive piles of rubbish. Every day, the 18 municipalities in KMC generate over 1,200 metric tons of solid waste. Recently, as the Bancharedanda road has been under construction, Kathmandu has now been unable to collect garbage for several days. 

With continuous growth in population density and urbanisation, waste generation in Katmandu is rising dramatically. In 2014, the Ministry of Health and Population had identified SWM as the country’s most crucial challenge. There is only one waste collection and transfer station at Teku, where wastes from Kathmandu and other cities are transported. This station transports waste to the Bancharedanda Landfill now. Kathmanduites have been facing problems with garbage transportation during rainy and monsoon seasons along the 27-km road that stretches to Sisdole and Bancharedanda. Because of the rainy season and transport issues, the city uses 40,000 square feet of plastic tarp to cover the ever-growing garbage problem at Teku transfer station.

The segregation of garbage is also a big problem. Furthermore, many remote areas and slums of Katmandu do not have sufficient financial capacity to collect and manage waste. Moreover, open dumping is a common practice in Kathmandu. As a result, waste is scattered on roads, drainage, and open spaces. To solve the problem of garbage segregation, a pilot project was started in 2020 but did not work correctly. Besides municipal solid waste, healthcare waste is another major challenge for KMC. According to the Health Management Information System of Nepal, within the small city of Kathmandu, the number of registered public and private healthcare facilities (HCFs) in 2019 is more than 1,070 and combined with unregistered HCFs, the number is around double, and these HCFs produce more than a ton of hazardous wastes.

In addition, Metro City Waste Management picks up on-hazardous waste generated from these HCFs. Still, no central management system is practised for dangerous wastes in the KMC. Moreover, few HCFs are individually practising incinerations for hazardous waste; in many cases, body parts have been found to mix with general waste. Nepal has adopted numerous legal facilitating regarding solid waste management in KMC, for instance, Solid Waste (Management and Resource Mobilisation) Act and rules, 1987, Solid Waste Management National Policy, 1996, Solid Waste Management Act, 2011 and Solid Waste Management Rules 2013. Despite having laws and policies, KMC has considerably not guaranteed a sound management system primarily because of a lack of economical implementation of actions and policies. 

Eventually, the garbage situation within Katmandu has reached a critical level. KMC has now taken initiatives to work with private agencies for solid waste management systems like private sector participation (PSP) as a crucial role for SWM. But unfortunately, it is not working well due to insufficient funding. According to the world population review (2021), like other cities, Katmandu will protect its individuals by providing a healthy environment, a good solid waste management policy and economic opportunities. In some areas of Katmandu, private organisations and local communities work together for waste management. 

Suggestions

In conclusion, KMC must integrate solid waste management from collection to final disposal to minimise environmental impacts and facilitate clean city and resource recovery materials. It is necessary to sort waste at home before taking it to a waste container and create good collection points and sorting containers. Sorting should be based on biowaste, paper, cartoon, glass, metal, plastic, mixed waste. There is also need to create separate collection points for hazardous waste, e.g. batteries, broken computers, electrical equipment. 

We should learn from Scandinavian nations like Finland and Sweden on how to implement an efficient waste management system where the overarching mission is simple - to stop sending waste to recycling in the first place. Finally, KMC must plan to transform the waste disposal system from open dumping to an engineered landfill site which may require investment with a commercial vision to address and align tech, policy, and environmental possibilities. Hopefully, with everyone's concerted efforts, Kathmandu will become garbage-free metropolis, where sustainability and a smart city vision can prosper in the future. 

 

Published: The Rising Nepal
Nepal's first English broadsheet daily

Shady cooperatives’ practices

Lately, a friend who deposited millions in a cooperative bank came to me and said he had lost his life savings because the owner had run away with all the money. He said more than a thousand depositors had lost their money in the scam, and a police complaint had been filed. This is not an isolated incident. They are happening across the country for multiple reasons.

Muhammad Yunus, a Nobel laureate, created the concept of Grameen Bank, a cooperative banking system in Bangladesh. It became widespread, providing micro loans to the marginalised, average and lower middleclass people. More than 16 million people who had no access to the traditional bank loans benefitted from the scheme. Somewhat inspired by the popularity of these cooperative banks, aspiring bankers and Nepali entrepreneurs started to found cooperatives here, too.

According to recent government data, there are more than 25,000 cooperatives (saving and credit as well as multi-purpose cooperatives) with more than 7 million members across the country. One regulatory body, the Department of Cooperatives, governs these co-op organisations. However, thanks to nominal or no monitoring by the so-called Department of Cooperatives, many depositors are being cheated almost daily.

 

Perhaps, it is a debatable and controversial topic. But are the Class A banks, categorised by the Nepal Rastra Bank as such, any better or worse than the coops? Still, of the many sectors and industries, the banking sector is an outlier and one of the most-profitable businesses. Among the many reasons, co-ops became highly popular here because of the higher interest rates that were provided than the big banks, which was lucrative for the middle and lower-middle income people. As a result, the number of cooperatives has mushroomed in recent times, and depositors' complaints have also increased drastically.

Moreover, once there were enough deposits, some of the founders of these co-ops started to invest for their personal benefit, such as real estate property, contributing to political parties, and building big shopping complexes and malls. Consequently, some ran away, swindling depositors of their money. I know that my friend's life savings are now lost forever, and it will be a dream to recover any of that amount.

In a nutshell, some other reasons that result in market fraud are weak or no monitoring or lack thereof, unethical co-op practices, lack of effective regulations, way too many co-ops in the provincial and local units, syndicated markets with cartels, political influence on lawmakers and shady business practices.

 

Published: The Himalayan Times
Nepal's leading daily newspaper

Legalise cannabis

Recently, I had travelled to California, where I saw that cannabis is entirely legal in the state and is also allowed for medical use. However, one Nepali doctor asked me a question that haunted me for days.

He asked, "Why have we made cannabis illegal in our country?" Cannabis was and currently is a vital part of Nepal's society and culture; however, it has been banned by law since 1976.

Ayurveda began thousands of years ago with cannabis use by saints and yogis. We worship Lord Shiva, but why do we ban cannabis use? The use of cannabis, especially during festivities, rituals and social gatherings, as in Shivaratri, is tolerated.

About 50 years back, people from all over the world used to come and visit government-licensed stores on "Freak Street", a popular destination for cannabis use. Now, the West has moved on and liberalised the prohibition of cannabis, and almost half of U.S. states are decriminalising its use. Recently, Thailand has become the first Asian country to legalise cannabis.

As Nepal's trade export has faltered in recent times, a rejuvenated cannabis trade tailored to the export demand can not only boost the "brand value" of the country but also prove a highly lucrative business for the agriculture sector in Nepal. In addition, some lawmakers and experts have claimed cannabis possesses "medicinal property" that will boost Nepal's fragile tourism industry and benefit those with chronic mental illnesses.

According to some estimates, by 2030, the global cannabis market is projected to be more than $120 billion. Therefore, the Nepal government should consider how much foreign exchange it can bring if we allow farming and legalise it in the future.

Furthermore, it will boost innovative products and services for future medical products in cannabis and pave the path for new and emerging businesses that could arise from the agricultural sector.

A Californian Nepali friend said he had found excellent benefits from cannabis. Not only has it treated migraine, headaches, pain, anxiety and insomnia in some cases, but it has also allowed him to slow down in some situations. I believe Nepal should take advantage of this untapped market as soon as possible by carrying out research on cannabis for scientific and medicinal purposes, which will bring colossal royalty income to our country.

Nepali lawmakers must create a pathway for cannabis cultivation and legalise it for recreational and medical use. Legalising marijuana/cannabis is a way forward for Nepal, but policymakers in our country do not care much about public issues, I jokingly told a friend.


Published: The Himalayan Times
Nepal's leading daily newspaper

Why Nepal Fails

I have completed writing a new non-fiction book entitled "Why Nepal Fails", which is now in the final stages of publication. Here are some questions and answers in-line:

 

What is the book about?

"Why Nepal Fails" discusses entrepreneurship in Nepal. The way people are doing business in Nepal, for example. It attempts to look into various perspectives, although the book is solely based on my own experiences. 

What is the genre of the book?

The book is non-fiction based on real-life events. 

Who is the target audience?

The target audience is everyone above 18+ age and all the young people who are doing business in Nepal or thinking of doing business in Nepal.

 

What is the word count?
The total word count of the book is approx 55k+ words with references.

What is the print format?

The book will be available in both paperback and hardback.

Where to purchase the book?

The book can be purchased from the bookstore in Nepal, e.g. B B Book Store, phone +977 986-9257210 and also available online soon.

Can I pre-order the book?

Yes, you can. Don't hesitate to get in touch with the bookseller through email here: bajrangbalibooks@gmail.com

or via phone at +977 986-9257210

Do you have the concept cover of the book?

Yes, the concept cover of the book looks like above, but this may not be the final book cover.