These arguments are useless, for no reason and totally illogical. If BIPPA is contrary to our national interest, why didn`t we hear an outcry of this level when Nepal signed bippa with other countries? It is important that the self-centered leaders who oppose BIPPA explain exactly how Nepal has been dominated and workers` rights undermined by signing such an agreement with five countries before it does so in India. In our low-investment economy, more investment is certainly a good thing and is in our national interest, as it will lead to more jobs and revenues and could spur growth. Nepal`s Maoist Prime Minister Baburam Bhattarai said he feared a counter-reaction to Saturday`s signing of the bilateral investment promotion and protection agreement with India. As for compensation, if investors earn one, it corresponds to the “fair value of the expropriated investment, just before the expropriation or before the imminent expropriation is made public, whichever is earlier”. Investors may demand, on the basis of the laws of the host country, a review of the compensation offered. Even if the interpretation of these provisions is sufficiently clear, it should be recognized that the scope of the definition of these issues also applies to investments in both countries. It does not apply to claims for compensation made before the application of the agreement, which means that some Indian companies, such as UTL and Dabur Nepal, cannot claim compensation for losses already inflicted on their operations. Much of the bippa debate is based on misinformation and an imprecise understanding of the breadth and depth of the agreement. While the private sector has openly welcomed BIPPA, selfish political leaders are politicizing it to be heard by hooks or crooks. For example, former Prime Minister Jhalanath Khanal repressed the government for signing bippa, which he said is not in our national interest. He seems so lost in the sordid political game that he has forgotten what was mentioned in the Finance Ministry`s 2009/10 economic survey during his tenure as prime minister. It states that a bilateral investment promotion and protection agreement will be signed with India to encourage Indian investment in Nepal, while preparations are under way to continue such agreements with other countries” (see page 187).
This shows how bad our leaders, like Khanal, are at understanding economic problems and also remembering what they officially supported when they were in power. Similarly, some influential leaders have argued that BIPPA is contrary to the interests of our country and workers. Their argument is that BIPPA will increase Indian rule and undermine the rights of domestic workers. The portal was created by a joint venture of the Government of Nepal, the Ministry of Industry (MOI) and the Confederation of Nepalese Industries (CNI), in collaboration with USAID/NEAT Activity. “Bhattarais` irresponsible action without consultation with other parties has undermined Nepal`s nationalism,” Khanal said in a speech in the capital on Saturday. . . .