By Surojit Gupta
UWB Note: Following is the Reuters report based on the interview of Rameshore Prasad Khanal, Joint Secretary, Finance Ministry. Here is the original article in Reuters website.
HYDERABAD, India, May 6 (Reuters) – Nepal is seeking $1.2 billion for reconstruction and rehabilitation and has appealed to the international community for help, a senior finance ministry official said on Saturday.
The Himalayan kingdom is one of the poorest countries in the world and has just returned to democracy after mass protests last month forced King Gyanendra to give up absolute power and reinstate parliament four years after he dissolved it.
Nepal has faced a decade-long insurgency by Maoist rebels, which has killed thousands, but the rebels say they will join talks with the new multi-party government to try to end the uprising.
“Our preliminary estimates show that we will need about $1.2 billion for post-conflict reconstruction,” Rameshore Prasad Khanal, joint secretary in the finance ministry, told Reuters in an interview.
“We are appealing to everybody,” said Khanal, who is representing Nepal at the 39th annual meeting of the Asian Development Bank in the southern Indian city of Hyderabad.
Nepal has per capita annual income of just above $250 and up to 80 percent of its 26 million people depend on farming. It also exports textiles, handicrafts, vegetable oil and carpets.
Remittances from overseas Nepalis bring in about $1.3 billion annually.
Tourism and aid are two other principal sources of foreign exchange, but some donors slowed lending when the king cracked down on a campaign to restore democracy. Tourist arrivals have also fallen because of the unrest.
Khanal said the immediate priority was to improve rural infrastructure and undertake rehabilitation of people affected by the conflict.
He said the government would soon launch a campaign to woo back tourists.
“The Tourism Board will launch the campaign soon in China and India and later in other countries.”
Tourism accounted for about 4 percent of the country’s $6.3 billion gross domestic product in 2004.
Khanal said the government was also working on a strategy to boost hydro-electricity production to end chronic power shortages and wanted private sector firms from other countries to join in projects with the government.
He said the economy had the resilience to bounce back.
“(In) 1990 we grew close to 5.0 percent but in 2001 growth declined to 2.0 percent. Once the conflict is resolved we can clearly go up to 6.0 percent and maybe 7.0-8.0 percent later.”
United We Blog 
Comments
65 responses to “Nepal Seeks 1.2 Billion Dollars For Reconstruction”
Coke people like you make me laugh. You are just a frustrated and pathetic looser and who can do nothing but vent your anger at others… People like you just make me sick… I will bet anything that despite your harsh rethoric you are the biggest fan of Zee TV/Star TV Soaps. In fact that’s probably what you do all day… when get some free time (during the commercial breaks) you come to here and feel as you have to prove yourself by making yourself look like a hardcore nationalist! I have seen too many people like you so don’t even try to spit your sh*t here!
You have no logic, reasoning or basis for anything that you say… the most intelligent thing that eminates from your mind is “Ohh its all the dhotees fault” In fact I don’t think I even need to discredit or attack you. Just reading your post is enough to give a glimps into your mentality… and that is enough entertainment!
And by the way is that post of your suggeting that I go learn sanskrit suppose to be an insult?? I kinda liked your suggestion.
He is not a Girija supporter but “was” a Deuba supporter. But in these last 15 months, he had completely transformed himself into a Mandale to grab the Ambassdorship to UN. You can ask any knowledgable person of Nepalese diplomatic circle or politicians.
Mr. Limbu:
All I know is that the man was a hardcore congressie.
dear bloggers
No personal attacks to other bloggers please.
Bhudai and layman,
You do not know anything about this man. You note the following info carefully:
1. Madhuraman was Ne Bi Sangh cadre in the college days.
2. He took maximum benefit for this. He worked in tax and finance sector and also some time in the home ministry.
3. He earned a lot of money during that period. After that he appeared PSC exam. for the Joint Secretary post in the Foreign Ministry.He got passed because he was very intelligent or he was helped by someone, I don’t know.But our PSC becomes Congressi with congress Govt. in power and UML in UML time and the people inclined to the respective politics pass the exams.
4. He became foreign secretary and took maximum benefit at that time.
5. When KG took power on the 1st Feb, 2005, he changed the colour compeletly and KG and Ramesh Pandey were convinced that he can do a good job in welcoming King in UN. So he was sent there in September 2005 to prepare the visit which was cancelled because of tremendous pressure from Nepalese people and International community. Our people have short memory so have to repeat these things.
My question is whether we have to continue with him ? You give me the answer on the basis of above info.
Our opinion on this matter has clearly no bearing on reality. The govt has decieded not to recall him… I think it is because of his close connection to the Congress party. I don’t want reveal more than necessary but believe me I know this man fairly well and he does not like it if you talk crap about Girija… Hence that’s why I assumed he was a Congressie.
Pundit jee i made you sick, then take medicine rahter than vomiting here again and again. Repeatedly talking and talking.
Yuk i feel disgusted.
Do some work
send money home.
Think over development issues than political ones.
go see
http://www.hateindia.com
Coke:
May I suggest that you change your name from a fattening American drink to something more original? No I don’t mean Thumbs Up… how about “Wei Wei” to satisfy your nationalist sentiments?
Development and political issues are inter-twined buddy. You cannot have economic or social development without proper political stability and leadership.
Send money to who?
Who is going to pay this loan???
Are we heading toward begging or reconstructing ourself without depending with others.
………
The same old strategies of begging? Then what changes do we expect from constituent assembly if we follow the same road??
We like to see talking about development, talking about self dependent etc.. etc.. in new constitution not same old filthy rat’s strategies….
No more suggestions from the bloggers???
Are we so poor that we even dont have ideas?
Or,
Do we want the donors to show us the enlightened path to economic development without working??
Yes positively fantastic site!
If you would like to discuss this then click my name…
…
10 reasons why people hate indian community (From India):
If you want to discuss this article, please send it to 10 of your friends and then right your comments.
1.Indians are the worst drivers.
2.Indians blow their nose and spit in public anywhere anytime.
3.When an Indian becomes the boss, everyone in the office is replaced by Indians.
4.Indians never queue; they simply go to the counter regardless of the queue.
5.Indians have dirty minds. They stare at my wife’s ass every time she walks out of the house.
6.Indians are liars when trading. Any lie is allowed as soon as they sell it!
7.Indians have no concept of “YES NO”, they simply tilt the head from one side to the other for any reasons.
8.Indians are TOO MANY and they leave no space to other communities
9.Indians can not be trusted, as soon as you turn your back, they take advantage of you
10.Indians are sometimes very dirty and smell strongly.
I live in Dubai and I don’t know ONE person that likes the Indian Community. We have noticed that even Indians hate Indians!
Many thanks.
Other Communities of UAE
As a layman- I fail to understand the basic of economy but I can clearly see unless we learn to sustain our economy by ourselves by prioritising where we have competitive and comparative advantages- the vicious cycle of hand-outs only improvises this nation. We should focus on developing world class work force which means investment in education, technical or vocational trainings and such but what is happening is just the opposite- so no amount of foreign aid will lift this nation only few will immensily benefit. No wonder foreign agencies pledge and donate but as Santosh has rightly said-they benefit more than us, it has been quite clear.
By the way- as our growth rate and balance of payments dwindle down and locally liquidity shots up, some say upto Rs. 10 arab and also as Indian currency is on the process of free float what kind of ramafication it will have on our currency value? Are we on process for total economic collaspse and what will be the aftermath. I worry along these lines rather than on spaM bullshits and incompetences.