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USAID on Thursday launched an up to $5m USAID Agriculture Higher Education activity. In December 2022, USAID awarded this five-year activity to Tuskegee University, in collaboration with Nepali partner Sathguru, Inc., to enhance the capacity of the Agriculture and Forestry University (AFU) and increase the number of workforce-ready students by strengthening the university’s research and teaching methodology. Established in 2010 and with a current student population of more than 1,800, AFU is Nepal’s premier agricultural university. Tuskegee University has a long history in agriculture and higher education while using the asset of student diversity to drive innovation. Through this new partnership, AFU will be able to leverage Tuskegee University’s experiences to strengthen the academic, research, and extension capacity of AFU and develop the entrepreneurial spirit of AFU students to become a significant force in the agricultural transformation of Nepal. Speaking at the launch event, USAID Agency Counselor Clinton White said, “USAID is thrilled to launch this new Agriculture Higher Education activity to further strengthen our engagement with AFU. The partnership with Tuskegee University, a US higher education institution and a Historically Black College and University, brings a unique set of strengths, experiences, and expertise. The activity will improve the quality of agricultural higher education, increase graduates’ employability through a market-driven curriculum, and contribute to strengthening agricultural research and extension. It also helps expand and diversity our partnerships with new local Nepali organizations” USAID Agriculture Higher Education is one of the latest examples of the United States’ long partnership with Nepal to improve food security and strengthen economic development in Nepal. Counselor White is on a three-day visit to Nepal, where he will meet with the Government of Nepal, civil society leaders, community groups, students, and businesses and will discuss continued collaboration and partnership between the US and Nepal.

Energy Minister Shakti Basnet has asked the private sector to get ready for the power trade. Addressing the 21st annual general meeting (AGM) of the Independent Power Producers' Association Nepal (IPPAN) on Thursday, Basnet said the government is all set to open power trading for the private sector. According to Basnet, the Electricity Bill 2080 will be registered in the parliament soon and its parliamentary endorsement will pave the way for the private sector to engage in power trading. “The bill is currently reviewed by the ministries concerned,” said Basnet. The government, according to Basnet, is going to implement a campaign called ‘Energy for Development’ to further develop the energy sector. “The campaign is aimed at increasing production, distribution, transmission, trade, and consumption of electricity,” he said. IPPAN President Krishna Prasad Acharya said that the government should open the way as the private sector is ready for power trading. Stating that the country’s electricity generation increased after the entry of the private sector, Acharya said that the private sector should now be allowed to do power trade business in order to increase consumption and export of electricity. Private power producers have been lobbying for their involvement in power trading. This demand stems from the fact that the Nepal Electricity Authority (NEA) currently holds a monopoly on power purchase agreements (PPAs), leaving no other entity in the country authorized to sign such agreements with power producers. The power producers have been gearing up for power trading licenses by establishing power trade companies. According to the Department of Electricity Development (DoED), Nepal Power Exchange Ltd (NEPEX) and Power Trading and Energy Exchange Ltd (PTEEL) have applied for power trading licenses. Similarly, Nepal Infrastructure Bank has applied to the Ministry of Energy, on behalf of the Power Trading Company (PTC) Ltd, and the Himalayan Trading Company is also preparing to register an application for the license. While the private sector in Nepal is still awaiting the trading license to sell electricity in both domestic and foreign markets, some private entities have already signed memorandums of understanding (MoUs) with Indian companies for the cross-border trading of electricity. The Nepal Power Exchange Limited (NPEL), subsidiary of IPPAN has already signed an agreement with Manikaran Power Limited, India to carry out cross-border electricity trade. As per the MoU, the Indian company will buy 500MW of electricity from the Nepal Power Exchange Limited besides investing in the Nepali company itself. During the Power Summit 2023, Nepali and Indian companies signed initial deals for selling 2,200 MW of electricity to India. Karki elected new IPPAN President The 21st AGM of IPPAN also elected a new executive committee. Ganesh Karki has been elected as the new president of the association unopposed. Similarly, all office bearers including Mohan Kurma Dangi as Senior Vice President were elected unopposed. The meeting elected Ashish Garg, Bharat Kumar Khatri, Uttam Vlon Lama, Ram Prasad Acharya, and Anand Chaudhary as vice presidents of IPPAN. Similarly, Balram Khatiwada was elected as the General Secretary. Prakash Chandra Dulal as the Deputy Secretary General. Likewise, Bharat Prasad Nepal, Bharat Kumar Khadka, Kavita Pokharel, Vikram Bista, and Him Prasad Pathak have been elected as secretaries.

President of the Independent Power Producers' Association-Nepal (IPPAN) Krishna Prasad Acharya today said the government should pave the way for the private sector to trade electric power. The private sector has had a large investment in the energy sector, he argued while speaking at the inaugural session of the 21st annual general meeting of the IPPAN today. He stressed the need for the country to make optimum utilization of energy, the foundation of economic prosperity for a country. "Lately, carbon emission reduction has been a global issue. Nepal is one of the countries with the ability to contribute to carbon reduction. There is much potential for clean energy in Nepal. There is potential for hydropower and solar energy," he said. Saying that increment of internal power consumption has been a challenge, he suggested increasing power consumption in industries, irrigation, electric ovens and electric vehicles. The private sector could play a role in power consumption increment and energy export, he was of the view. Referring to the recent Indian visit of Prime Minister Pushpa Kamal Dahal, he said, "The visit focused on economic issues. More so, this focused on energy. This is a matter of happiness for power entrepreneurs." The matter of reaching a memorandum of understanding to export 10,000 megawatts of electricity during the visit was an important achievement itself for Nepal, he said.  

The Nepal Stock Exchange (NEPSE) gained 5.00 points to close at 2,042.07 points on Thursday. Similarly, the sensitive index plunged by 0.30 points to close at 383. 39 points. A total of 7,896,478-unit shares of 270 companies were traded for Rs 3. 16 billion. Meanwhile, City Hotel Limited was the top gainer today, with its price surging by 9. 97 percent. Similarly, Bhugol Energy Development Company Limited was the top loser as its price fell by 5.86 percent. At the end of the day, total market capitalization stood at Rs 2. 98 trillion.