Nepal's President appeals for peace, says making efforts to find solution to current crisis
Kathmandu (PTI): Nepal's President Ramchandra Paudel Thursday appealed to all sides to cooperate in maintaining peace and said he was making efforts to find a solution to the current political situation within the constitutional framework.
It is the first time the president spoke about the current turmoil. He was not seen in public after the Gen Z agitating groups burnt the president's office and his private residence on Tuesday.
Paudel, who is currently under military protection, also urged people and all stakeholders to show patience and help maintain law and order in this critical situation.
"I am making every effort to protect democracy and to find a way out from the present political impasse within the constitutional framework while at the same time maintaining law and order,” said President Paudel.
He called all the sides to show trust in his efforts to find a solution to the problem at the earliest.
"I appeal to all parties to be confident that a solution to the problem is being sought as soon as possible to address the demands of the agitating citizens and to cooperate in maintaining peace and order in the country with restraint," he added.
Many people were expecting that the president would publicly appear and address the nation after the incident.
Earlier, President Paudel and Army Chief Ashok Raj Sigdel met with the
representatives of the protesting 'Gen Z' group at the army headquarters in Bhadrakali to pick a leader to run an interim government, sources said.
Former chief justice Sushila Karki, Kathmandu Mayor Balendra Shah and two others were among those being considered by the protesting Gen Z group to lead the interim government, they added.
The interim leader will replace Prime Minister K P Sharma Oli, who resigned on Tuesday following a violent student-led agitation.
An Army spokesperson confirmed that discussions are ongoing with various stakeholders. He, however, did not provide any names.
“We are holding rounds of talks with different stakeholders. The talks are mainly focused on finding a way out from the current stalemate and at the same time maintaining law and order situation in the country,” an Army spokesperson said.
A similar meeting was held on Wednesday, but it yielded no results.
“The new executive head will be the one who will conduct fresh elections within a specified time frame,” the sources added.
Apart from Karki and Shah, the other two names under consideration are the former CEO of Nepal Electricity Authority Kulman Ghising and Mayor of Dharan Harka Sampang.
Nepal plunged into a political crisis as Oli resigned on Tuesday in the face of massive protests, prompting the Nepal Army to take over the law and order situation.
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India proposes preferential trade agreement with Mexico to deal with high tariffs
New Delhi (PTI): India has proposed a preferential trade agreement (PTA) with Mexico to help domestic exporters deal with the steep tariffs announced by the South American country, a top government official said on Monday.
Mexico has decided to impose steep import tariffs - ranging from about 5 per cent to as high as 50 per cent on a wide range of goods (about 1,463 tariff lines) from countries that do not have free trade agreements with Mexico, including India, China, South Korea, Thailand and Indonesia.
Commerce Secretary Rajesh Agrawal said that India has engaged with the country on the issue.
"Technical level talks are on...The only fast way forward is to try to get a preferential trade agreement (PTA) because an FTA (free trade agreement) will take a lot of time. So we are trying to see what can be a good way forward," he told reporters here.
While in an FTA two trading partners either significantly reduce or eliminate import duties on maximum number of goods traded between them, in a PTA, duties are cut or removed on a limited number of products.
Trading partners of Mexico cannot file a compliant against the decision on imposing high tariffs as they are WTO (World Trade Organisation) compatible.
The duties are within their bound rates, he said, adding that their primary target was not India.
"We have proposed a PTA because its a WTO-compatible way forward... we can do a PTA and try to get concessions that are required for Indian supply chains and similarly offer them concessions where they have export interests in India," Agrawal said.
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Citing support for local production and correction of trade imbalances, Mexico has approved an increase in MFN (most favoured nation) import tariffs (5-50 per cent) with effect from January 1, 2026 on 1,455 tariff lines (or product categories) within the WTO framework, targeting non-FTA partners.
Preliminary estimates suggest that this affects India's around USD 2 billion exports to Mexico particularly -- automobile, two-wheelers, auto parts, textiles, iron and steel, plastics, leather and footwear.
The measure is also aimed at curbing Chinese imports.
India-Mexico merchandise trade totalled USD 8.74 billion in 2024, with exports USD 5.73 billion, imports USD 3.01 billion, and a trade surplus of USD 2.72 billion.
The government has been continuously and comprehensively assessing Mexico's tariff revisions since the issue emerged, engaging stakeholders, safeguarding the interests of Indian exporters, and pursuing constructive dialogue to ensure a stable trade environment benefiting businesses and consumers in both countries.
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Federation of Indian Export Organisations (FIEO) Director General Ajay Sahai has said that Mexico's decision is a matter of concern, particularly for sectors like automobiles and auto components, machinery, electrical and electronics, organic chemicals, pharmaceuticals, textiles, and plastics.
"Such steep duties will erode our competitiveness and risk, disrupting supply chains that have taken years to develop," Sahai said, adding that this development also underlines the little urgency for India and Mexico to fast-track a comprehensive trade agreement.
Domestic auto component manufacturers will face enhanced cost pressures with Mexico hiking duties on Indian imports, according to industry body ACMA.
