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Foreign Minister NP Saud said that BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) offers huge markets and destinations for tourism as well as trade and investment opportunities within the region and beyond. "Political determination with common understanding of the leaders keeps the hope high for a peaceful, prosperous, resilient and sustainable Bay of Bengal. Transformation of the potentials into reality, words into deeds and understanding into results are at the core of the regional sprit to move ahead for the common prosperity and shared happiness," Minister Saud said while extending best wishes to the governments and peoples of the BIMSTEC Member States today, the 26th Anniversary of BIMSTEC. BIMSTEC endows enormous potentials with abundant natural resources, rich cultural heritages, and shared civilizational norms and values, Minister Saud said, adding that this region provides a unique link between the South and South East Asia in bringing together about 1.6 billion people — 23 percent of the world population. "Adoption of the BIMSTEC Charter and reconstitution of the BIMSTEC areas of cooperation during 5th Summit held in March 2022, among others are the instrumental steps for strengthening of the BIMSTEC process,” he said, adding, “In the decades-long journey of the regional process, we have adopted several documents, framed institutional mechanisms and developed common understandings for the cause of the BIMSTEC countries and their peoples.” “On this auspicious occasion, I feel honored to recall the 19th BIMSTEC Ministerial Meeting held on 9 March 2023, which has endorsed several important instruments including the BIMSTEC Bangkok Vision 2030, Rules of Procedures for BIMSTEC Mechanisms, Terms of Reference for Eminent Persons’ Group for future direction and the more," Minister Saud said. He underscored the need of effective implementation of the agreements and understanding reached among the leaders during the various meetings for bringing positive impact in the lives of the people of the region. Minister Saud expressed confidence that the BIMSTEC region will navigate towards the desired destination under the able chairmanship of the Kingdom of Thailand.  

The World Environment Day is being marked today with the theme #BeatPlasticPollution. The World Environment Day started to be celebrated on June 5 every year since 1973 at the call of the United Nations Environment Program (UNEP). It has been 50 years since this day started to be commemorated. On this occasion, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ said that the Day will contribute towards prodding all those concerned to transform into results the several initiatives and commitments the government has made at the national and international levels to combat the overall environmental problems including the management of plastic in Nepal. Stating that this year the World Environment Day is being marked to highlight with priority the plastic pollution, one of the major global environmental challenges, PM Dahal stressed on the need of managing the plastic and reduce the environmental pollution caused by plastic which has become an integral part of modern life. He expressed concern, saying the excessive and haphazard use of plastic has created a huge environmental challenge. The PM added that oceans, landfill sites, plains, hilly, high hilly and mountainous regions are filled with piles of plastic trash which increases the risk of causing adverse effects on human health and irreversible impact on the entire ecosystem. More than 400 million tons of plastic is produced throughout the world each year and a big part of this reaches to the oceans via various river systems. This can harm the ecosystem and in efforts to fight its adverse impact, efforts are being made at the initiatives of UNEP to forge a ‘Plastic Pollution Treaty’. The Prime Minister stated that Nepal is also participating in this initiative. He expressed the government’s commitment to enhancing the effectiveness of the Environment Conservation and Climate Change Management National Council which he chairs. According to the PM, the topic of environment conservation requires the active concern, interest and participation of all sides including the government, the non-governmental sector, academia, private sector, general public and consumers. As per the Constitution of Nepal, environment conservation comes under the jurisdiction of all three levels of government – federal, provincial and local. He has called upon one and all working in the environment protection sector to be united in the practical implementation of the theme of this year's World Environment Day.    

Structures in Bandipur Rural Municipality-1, Dumre of Tanahun are being demolished as part of the Prithvi Highway expansion drive. A drive has begun to demolish houses and huts that were constructed within the road section. According to engineer of Muglin-Pokhara Road Project (Eastern Section) Bishnu Pandey, five houses of Dumre Bazaar – the main commercial hub of Bandipur and entry point to Lamjung district – are being razed now. 'The drive is underway to remove structures built within the road territory. As of now, five houses have been razed', he said, adding, 'All the structures constructed within the road scope would be gradually demolished'. Most of the houses built long back in Dumre Bazaar were found within the road area. A plan was mooted to raze such structures by providing compensation. The eastern part includes Anbukhaireni rural municipality, Bandipur rural municipality and Byas municipality. Preparations are also being made to remove the structures built in Anbukhaireni and Byas. He further said that as many as 631 structures would be removed from the section. Compensation amounting to Rs 2.245 million would be distributed to the rightful owner. The Muglin-Pokhara Road Expansion Project has expedited its works in two sections. The eastern section from Anbukhaireni to Jamune has made 30 percent progress, the project sources said. Blacktopping has started in seven-kilometer section of Anbukhaireni. Project chief Narendra Subedi said that works have been expedited with a target to complete blacktopping of seven-kilometer in the current fiscal year. The expansion drive was initiated in the eastern section in April 2021 after contract signing for the same in January 2021. In the 41.45-km road section, three big and four small bridges would be constructed. The contract was awarded to China Communication Construction for the eastern section. The government this year has allocated a budget of Rs 5.42 million for the Muglin-Pokhara road expansion. The four-lane road is being constructed with the loan assistance of the Asian Development Bank. The contract of Rs 6 billion 231 million was signed for the eastern section while it was Rs 7 billion 44.6 million for the expansion of western section. The four-lane road section will have 20-25 meters on each side.  

The Melamchi Drinking Water Project has constructed a gate of the alternative system at the project site in Ambathan. According to the Melamchi Drinking Water Development Committee, the maintenance was carried out to ensure smooth supply of drinking water to Kathmandu even when there was rising water current and sometimes dirty water flow in the Melamchi River. Committee Spokesperson Rajendra Prasad Pant said that the sluice gate 1 of the project was being used to release water into the tunnel and gate 9 to fall water flow. 'Gate 9 checks dirty water flow to the tunnel'. The project remained closed for 10 days for undertaking maintenance of sluice gate under the alternative system. Though headwork was being used to flow the water into the tunnel, the alternative route has been used now for water release when the headwork saw technical glitches no sooner it was constructed. The water supply to the Kathmandu valley had resumed since Tuesday. Committee Spokesperson Pant further said that the gate was closed for maintenance and volume of water was increasingly released being aware of the potential risks. 'One-third of the water will be released in the beginning and then remaining two-third will be supplied. This is how the project is planning to supply water in full capacity', he said.  

The Ministry of Finance has made it clear that no change was made by the Finance Bill, 2080 BS regarding the capital gains tax meant for share market investors. A delegation of stock market investors visited the Finance Ministry today with their concerns over what they said was the imposition of an additional tax on the capital gains tax. During the meeting, the Ministry officials said the tax rate remained unchanged from the existing rates. The Ministry further issued a public notice to clarify the matter. As it said 5 percent or the 5.5 percent capital gains tax conditioned by the Bill in the stock market is the final tax rate.

The Kathmandu Metropolitan City (KMC) has said that all vehicles traveling outside the Kathmandu Valley should be operated only from the New Bus Park at Gongabu in Kathmandu. Issuing a notice today, the KMC appraised all those concerned, especially the transport entrepreneurs, about this new provision. The new provision is applicable for vehicles operating outside the Valley that ply on short route and long route. The provision aims to streamline the traffic management system in the bus park area where issues of haphazard parking, unsystematic uploading and unloading of passengers were rampant. The ticket booking counter inside the bus park, however, will be kept intact, the notice said. Furthermore, the KMC has also urged the concerned sides to remove the ticket booking counter outside the bus park effective from June 16. The KMC has urged all the stakeholders for implementation of the new provision. Those vehicles plying on the long route and obtaining permit up to Banepa, Sankhu and Dhulikhel are barred from stopping at stations from Kalanki to Jadibuti. The KMC shall coordinate with the Traffic Police to bring to book those disobeying the new notice, the KMC warned.    

Prime Minister Pushpa Kamal Dahal, who is on a four-day official visit to India, has said that his India visit has become historical. Talking to the mediapersons from Nepal in New Delhi this morning, the Prime Minister said that there has been a breakthrough in energy trade adding that crucial achievements have been obtained for the development of the hydroelectricity sector. "Important foundation has been readied for investment in the hydropower sector. A significant agreement has been inked to export Nepal's hydroelectricity to Bangladesh," PM Dahal said. Likewise, PM Dahal, who is also the Chairman of CPN (Maoist Center), said that bilateral agreement has been made to prepare a DPR within three months for the advancement of Pancheshwor Multipurpose Project. "My India visit remained significant due to several reasons including these ones. Such consensus was forged after three rounds of one-on-one meetings with IndianPrime Minister Narendra Modi," the Prime Minister added. He further said that the Indian side has expressed its commitment to resolve the border issues for the first time. PM Dahal said that he proposed the Indian side to work seriously to resolve the misunderstandings relating to border issues. PM Dahal is scheduled to return home on June 3.  

Satluj Jal Vidyut Nigam, a hydropower producing company of India, is to construct the Lower Arun Hydropower Project in Nepal. A bilateral agreement was made to this regard during the visit of Prime Minister Pushpa Kamal Dahal to India today. The company has also been constructing the Arun-III Hydropower Project. The project development agreement (PDA) was signed between Nepal and India in the presence of the Prime Minister Pushpa Kamal Dahal and his Indian counterpart Narendra Modi amidst a function in New Delhi. Chief Executive Officer from Investment Board Sushil Bhatta and Chairman of Satluj Company Nanda Lal Sharma signed the PDA from the respective sides. The 54th meeting of the Investment Board on May 28 chaired by Prime Minister Dahal had taken a decision on necessary homework on PDA. The meeting approved the draft document on PDA to be made with the developer company and forwarded to the Council of Ministers for approval. The Cabinet meeting later endorsed the PDA. The entire power produced from the project will be exported, which is believed to contribute to the economic development of the country. The Investment Board had approved the investment of Rs 92.68 billion for the 669-MW capacity project.