Local governments’ non-cooperation hampers loan recovery: BFIs

Kathmandu, July 10

Banks, development banks, finance companies, and microfinance institutions have expressed serious concerns over the lack of cooperation from local governments during the loan recovery process.

According to Banks and Financial Institutions (BFIs), many local authorities either delay or outright refuse to provide essential documents such as right-of-way and access certifications, making it difficult for financial institutions to proceed with loan recovery within the legal framework.

Without the document for right-of-way and access certification, the banks can't transfer the ownership of the property to the new buyers.

In a joint statement issued by the Nepal Bankers’ Association, Development Bankers’ Association Nepal, Nepal Financial Institutions Association, and Nepal Microfinance Bankers’ Association, the organisations warned that such obstructions are negatively impacting the loan recovery process. This, they say, could disturb the overall financial cycle and ultimately threaten the country’s economic stability.

The institutions stressed that they have been complying fully with the policies, procedures, and legal provisions issued by Nepal Rastra Bank (NRB) regarding loan disbursement and recovery. "However, when loans are not repaid, and the financial institutions initiate auction proceedings, offices such as land revenue departments require various supporting documents—including property valuations and access approvals—that local governments are reluctant to issue," read the statement.

A case of physical assault on bankers by the creditor and ward representatives has already been registered with the police. According to bankers, all levels of BFIs are facing trouble in loan recovery due to the non-cooperation from the local offices and office bearers.

While the BFIs were facing challenges to recover loans during the anti-BFIs campaign launched by an interest group a couple of years ago, the non-cooperation has emerged as the new problem.

The BFIs further reported a disturbing rise in cases where financial sector employees face threats, psychological pressure, and even physical attacks during the recovery process.

"Such incidents undermine the integrity of the banking sector and significantly lower staff morale, while also raising serious concerns about the rule of law," they said.

According to them, there is no doubt that effective coordination between local governments and financial institutions is vital for the country’s economic development under federalism.

The associations urged all concerned authorities to take the matter seriously and facilitate local-level cooperation, ensure peace and security, and resolve these pressing challenges in accordance with the spirit of federalism.

Published in The Rising Nepal daily on 11 July 2025.   

Pakistan Embassy launches 'Pakistanka Bouddha Sampadaharu'

Kathmandu, July 10

The Embassy of Pakistan in Nepal launched a Nepali-language book Pakistanka Bouddha Sampadaharu (Buddhist Heritages in Pakistan) on Wednesday.

The book highlights Pakistan’s rich Buddhist heritage. Authored by renowned scholar Om Charan Amatya, the publication aims to foster greater cultural understanding between Pakistan and Nepal, the Embassy informed in a statement.

Speaking on the occasion, Bhim Prasad Acharya, Member of Parliament (CPN-UML), underscored the shared spiritual legacy of the two nations and emphasised the importance of people-to-people connections in preserving and promoting cultural heritage.

U Myo Myint Maung, Ambassador of Myanmar to Nepal and Chameera Munasinghe, Charge d’Affaires of the Sri Lankan Embassy in Nepal, also attended the event.

The ceremony was also attended by venerable monks, Buddhist scholars, political leaders, members of civil society, officials of the Pakistan Embassy, and their families. Academic institutions and think tanks in Pakistan joined the event virtually, as read in the statement.

A. Imran Shaukat, Pakistan’s Envoy for Buddhist Heritage Promotion, addressed the gathering online and shared insights into the country's efforts under the 'Pakistan’s Buddhist Heritage Promotion Initiative'.

Author Amatya highlighted the historical and spiritual connections between revered Buddhist sites in Pakistan and Nepal, noting their value to global Buddhist communities.

Pakistan’s Ambassador to Nepal, Abrar H Hashmi, praised the book as a bridge for cultural understanding, stating that Pakistan is proud of its preserved Buddhist heritage and welcomes pilgrims, scholars, and tourists to explore its historical richness.

Published in The Rising Nepal daily on 11 July 2025.   

Nepal, Japan sign JDS project

Kathmandu, July 9

Japan International Cooperation Agency (JICA) and the Government of Nepal (GoN) on Wednesday signed a grant agreement for Human Resource Development Scholarship (JDS) project Fiscal Year 2025/26.

The 572 million Japanese Yen (Rs. 534.4 million) agreement reaffirmed the commitment of both governments for enhancing the capacity of Nepal’s civil service through advanced education, JICA said in a statement. Japan has been providing this scholarship continuously since 2016.

The Exchange of Notes regarding the assistance was signed by Ghanashyam Upadhaya, Secretary of the Ministry of Finance and Maeda Toru, Ambassador of Japan to Nepal.

Likewise, the Grant Agreement was signed by Dhani Ram Sharma, Joint Secretary, International Economic Cooperation Coordination Division (IECCD) at the MoF and Matsuzaki Mizuki, Chief Representative of JICA Nepal Office.

Each year, the scholarship offers 20 seats for a two-year master’s degree course and two seats for a three-year doctoral level course at the universities of Japan. “These scholarships enable participants to study at prestigious Japanese universities, enhancing their expertise in fields such as judiciary and economic policy while also expanding their global professional networks,” read the statement.

The grant has provided scholarships to 209 civil servants from Nepal so far.

The JDS programme aims to bolster the administrative capacities of young and promising civil servants with advanced skills to become future leaders. 

Published in The Rising Nepal daily on 10 July 2025.   

Dr. Aryal appointed TU VC

 Kathmandu, July 9

Professor Dr. Deepak Aryal, the newly appointed Vice-Chancellor of Tribhuvan University, took the oath of office and secrecy before the Prime Minister and Chancellor of the University,  KP Sharma Oli on Wednesday.

The oath-taking ceremony took place at the Prime Minister’s residence in Baluwatar and the event was also attended by the co-Chancellor and Minister for Education, Science and Technology Raghuji Pant, among others.

Dr. Aryal is former Head of the Department of Hydrology and Meteorology at the TU. 

PM Oli appointed Dr. Aryal as Vice-Chancellor from among the candidates recommended by the selection committee. Twelve academicians had vied for the post while selection committee had recommended three candidates including Prof. Dr. Khadga KC, incumbent acting VC and Prof. Dr. Binil Aryal, former Dean of the Faculty of Science. 

Published in The Rising Nepal daily on 10 July 2025.   

Birendra Raj Pandey elected CNI president

Kathmandu, July 9

Birendra Raj Pandey has been elected as the President of the Confederation of Nepalese Industries (CNI). Its 22^nd Annual General Meeting on Wednesday elected Pandey, incumbent Senior Vice-President to the post.

He was automatically promoted to President as per the provisions of the Confederation’s statute.

He has been involved with the CNI for over a decade as a member of the National Council and various committees, and served as Vice President since 2018.

Born in Kathmandu, Pandey has been consistently active in the construction industry for the past thirty years. He possesses expertise in civil engineering, housing and urban development, roads and bridges, water resource management, and structural strengthening. He is the Executive Director of Nepal Adarsha Nirman Company and is also engaged in green construction materials, agriculture, and the education sector.

Outgoing President Rajesh Kumar Agrawal handed over responsibilities to newly elected President Pandey.

The AGM elected the CNI National Council members including Gopal Kumar Agrawal, Milan Babu Malla, Parasi Agrawal, Rahul Kumar Agrawal, Varun Kumar Todi, Deepak Kumar Agrawal, Rohit Gupta, Hitesh Golchha, Amit More, Ashrayata Karki, Nirvana Kumar Chaudhary, Akash Golchha, Bikash Dugar, Bikram Singhania, Amit Kumar Begani, Gaurav Sharda, Dileep Agrawal, Yash Agrawal, Sandeep Sharda, and Rajiv Gupta.

Likewise, Sanjeev Neupane, Hem Raj Dhakal, Anurag Goyal, Dhruba Rijal, Sanjay Golchha, Barsha Shrestha, Raj Bahadur Shah, Bidushi Rana, Laxmi Prasad Subedi, Ashish Jajodia, Pampha Dhamala, Manish Kumar Khemka, Ashish Garg, Sewa Pathak, Gokul Bhandari, Basanta Bahadur Chand and Chandra Tandon have also been elected.

Former Provincial Presidents Bhim Ghimire (Koshi), Pramod Sah (Madhesh), Lekhraj Pokharel (Bagmati), Binod Neupane (Gandaki), Ejaz Alam (Lumbini), Chhatra Shahi (Karnali), and Raman Chandra Shrestha (Sudurpaschim) have been elected as National Council members.

Likewise, Badri Nath Sharma (President, Makwanpur Industry Association), Madan Ghimire (Acting President, Chitwan Industry Association), KB Rana (President, Nawalpur Industry Association), Dilip Sapkota (President, Rupandehi Industry Association), and Rudra Shrestha (from Pokhara Industrial Estate Industry Association) have become ex-officio members of the National Council.

Seven vice-presidents have been unanimously elected from among the National Council members. Nirvana Chaudhary has been elected as the Senior Vice President of the CNI. The other Vice Presidents elected unanimously include Raj Bahadur Shah, Hem Raj Dhakal, Rohit Gupta, Amit More, Bhim Ghimire, and Gokul Bhandari.

Sandeep Sharda, Bidushi Rana, and Prachi Agrawal have been nominated as permanent invited members of the CNI.

Upon assuming the role of President, Pandey expressed his commitment to institutionalising the achievements of the Confederation and working proactively to elevate it to new heights.

Published in The Rising Nepal daily on 10 July 2025.   

NIA unveils policy and programmes for FY 2025/26

 Kathmandu, July 9

Chairman of the Nepal Insurance Authority (NIA), Sharad Ojha on Tuesday, unveiled the Annual Insurance Policy and Programme for the upcoming Fiscal Year 2025/26 for the first time since its inception.

The insurance sector regulator has launched the new Policy and Programme as a new initiative with the objective of developing a competitive and trustworthy insurance system, enhancing institutional governance in the sector.

At a press conference organised by the Authority in Kathmandu, Ojha announced that the NIA will formulate and implement its programmes and budget for the coming year in line with the newly released policy and programme.

Highlighting that the policy aims to guide the insurance sector towards a projected path of development, he said that it clarifies the direction and initiatives the Authority will undertake during the upcoming fiscal year. He further mentioned that insurance companies will also be required to develop and implement their respective budgets and programmes in accordance with this policy.

Executive Director of the NIA, Sushil Dev Subedi, informed that the practice of introducing an annual policy and programme has been initiated as a guiding document to propel the insurance sector forward in a planned and predictable manner.

The policy and programme for the upcoming year prioritise protecting the interests of policyholders, expanding access to insurance, promoting financial stability through risk transfer mechanisms, managing risks related to climate change and disasters, adopting international best practices and research-based policymaking, and strengthening the use of information technology and digitalisation.

The policy includes provisions to make insurance services more accessible via digital payments and alternative distribution channels, develop systems for easy dissemination of information on policy terms and benefits, implement a ‘Transparency Dashboard’ among insurers to enhance accountability, and introduce legal provisions for the protection of policyholders' rights.

Likewise, it also outlines measures to prioritise micro and agricultural insurance, extend coverage to remote and geographically disadvantaged areas, collaborate with provincial and local governments, the private sector, and other stakeholders for insurance sector development, and prioritise insurance-related studies and research.

Furthermore, it includes plans to integrate complaints and grievance mechanisms into digital platforms, revise insurance documents and guidelines as needed, enhance anti-money laundering efforts, and strengthen the regulatory capacity of the NIA by aligning with international best practices.

Additional initiatives outlined in the policy include developing policies and insurance products based on research and policyholder needs, mandating insurers to design at least one innovative insurance product, updating existing legal provisions concerning investment and reinsurance, and developing legal structures that prioritise climate risk management.

The policy and programme also propose establishing an Insurance Information Centre and an Insurance Development Fund, fostering a technology-friendly insurance environment, developing a 'Regulatory Alert System' for effective coordination with insurers and implementing a knowledge management system at the NIA.

In line with a risk-based inspection approach, the NIA plans to strengthen supervision, monitoring, and inspection mechanisms, revise legal frameworks for risk-based capital as needed, conduct feasibility studies for risk-based premium calculation systems, implement key performance indicators to conduct quarterly performance reviews of insurers, and carry out necessary research on disaster risk reduction in the insurance sector.

As envisioned by the Insurance Act and regulations, the policy also includes provisions for insuring students in government schools through the Insurance Development Fund, and launching pilot insurance schemes to bring targeted groups and communities under coverage using the same fund. 

Published in The Rising Nepal daily on 10 July 2025.   

Govt determined to reform laws to increase investment

Lalitpur, July 9

Minister for Industry, Commerce and Supplies Damodar Bhandari has said that it is heartening that the private sector is raising the same demands for the last two decades but many of them have not been fulfilled even now.

"The political leadership has failed to address the short-term and long-term need of the industrial sector. Had it been done there would have been expansion of industrial base, more employment generation and greater contribution to the economy," he said while addressing the 22^nd Annual General Meeting of the Confederation of Nepalese Industries (CNI) in Lalitpur on Tuesday.

"The manufacturing sector's contribution to the GDP has gradually gone down to 5 per cent from about 14 per cent several years ago. Until we keep the industrial sector at the forefront of the national development, we will further fail to strengthen economic development," said Minister Bhandari.

He maintained that the government now has taken such issues seriously and is determined to address the policy hurdles that have long been obstructing the development of industry in the country.

The policies and programmes of the government and budget for the upcoming Fiscal Year 2025/26 have given priority to address the demands of the private sector and resolve the challenges faced by the industries and entrepreneurs.

According to Minister Bhandari, the Ministry of Industry, Commerce and Supplies (MoICS) has been putting its efforts to make impactful cooperation and collaborations with the relevant ministries including the Finance, Physical Infrastructure, Foreign Affairs and Energy.

He said that his ministry will work towards promoting Nepal's products in the international market, enhance export and attract more investment.

Lawmaker and president emeritus of the CNI, Binod Chaudhary, said that through the recent initiatives to make policy reforms to promote the private sector investment and businesses, the government has given a clear indication that it has intentions to facilitate business growth and development.

Likewise, President of the CNI, Rajesh Agrawal, said that despite interest rates falling to a single-digit level and investable funds being available within banks and financial institutions, industries and businesses have not been able to take loans due to insufficient overall demand.

"As a result, they have also been unable to invest. This is currently the greatest challenge facing the economy," he said while informing that the industrial output has not increased, and irregular electricity supply to industries has pushed production costs higher.

According to him, on one hand, investable funds in banks are rising while, on the other hand, policies adopted by the regulatory authority have discouraged investors.

Capital expenditure by the government plays a vital role in keeping the overall economy dynamic. However, the state of capital spending has remained a matter of concern for a long time, he said.

The recent legal reforms aimed at improving the economic and business environment, encouraging investment, and ensuring good governance in public services—along with directives on the use of domestic goods in public bodies and budgetary provisions to promote production in fiscal year 2082/83—have instilled hope in the private sector. "However, effective implementation of these revised laws and directives is critical to achieving meaningful outcomes," said Agrawal.

He said that the legal reforms and the budget of 2025/26 have introduced some historic initiatives.

According to him, the new provision allowing Nepali entrepreneurs or companies to set up sales branches or semi-processed export-based factories abroad, and invest up to 25 per cent of their annual export earnings overseas is a visionary step.

Agrawal also maintained that financial penalties should be imposed for economic offences, but entrepreneurs should not be imprisoned, as the state cannot benefit from jailing businesspeople.

"With the overall contraction in demand, producers are struggling, and the inability to collect outstanding dues is adding to their distress. While many countries have enacted Payment Protection Acts, Nepal has no such legal framework to date. I therefore sincerely urge the government to introduce a Payment Protection Act," said Agrawal. 

Published in The Rising Nepal daily on 10 July 2025.   

FM Rana, German counterpart discuss issues of bilateral interest

Kathmandu, July 8

Minster for Foreign Affairs Dr. Arzu Rana Deuba held a bilateral meeting with her German counterpart Dr. Johann David Wadephul on Tuesday where the two discussed Nepal-Germany relations, matters of bilateral interest, and a wide range of issues of mutual concern.

FM Dr. Rana recalled that Germany is one of Nepal’s longstanding and major development and trade partners, and expressed her gratitude to the German government and people for their continued support in economic, social, and other sectors, her secretariat informed in a statement.

Emphasising the need to further promote bilateral trade between Nepal and Germany, she called for joint efforts and encouraged stronger networking between the private sectors of both countries. She also invited German investment in Nepal, particularly in areas such as the establishment of a chemical fertiliser plant.

Dr. Rana informed Dr. Wadephul that Nepal is preparing a strategy to ensure a smooth and sustainable transition following its graduation from the Least Developed Country (LDC) status in 2026. She stated that Nepal would require continued support in terms of resources, technology, and financing from Germany, the European Union, and other development partners during this process.

Likewise, mentioning Nepal’s candidacies for membership of the United Nations Human Rights Council for the term 2027–2029, the Economic and Social Council for 2029–2031, and the non-permanent seat on the UN Security Council for 2037–2038, FM Dr. Rana requested for Germany's support. In response, Foreign Minister Dr. Wadephul expressed Germany’s commitment to support Nepal in these candidatures.

Minister Dr. Rana also highlighted that although Germany is the second-largest source of European tourists for Nepal and both countries share great potential in tourism, the absence of direct air connectivity has prevented full utilisation of this potential. She therefore urged for the establishment of direct flights between the two countries.

"Due to the inclusion of Nepali airlines on the EU aviation safety list and the resulting flight ban, there have been serious implications for tourism promotion between Nepal and Europe," she said while mentioning that the Government of Nepal has tabled two bills in Parliament for the restructuring of the Civil Aviation Authority of Nepal.

The proposed legislation incorporates not only global best practices but also aligns with the recommendations of the EU and International Civil Aviation Organisation (ICAO). "Germany, can be a key EU member state, to play a role in lifting the ban on Nepali airlines," said Dr. Rana. In response, Dr. Wadephul assured of full cooperation in this regard.

During the meeting, Dr. Rana also raised the issue of the devastating impacts of climate change in Nepal, highlighting the country’s vulnerability and the severe consequences it is already facing. She expressed Nepal’s hope for Germany’s support in advancing its campaign for climate justice. 

Published in The Rising Nepal daily on 9 July 2025.   

Remittance inflow sees robust increase in FY's 1st 11 months

 Kathmandu, July 8

Nepal witnessed a robust increase in remittance inflows during the first 11 months of the current fiscal year 2024/25 with a year-on-year rise of 15.5 per cent.

According to the latest report published by the Nepal Rastra Bank (NRB) on Tuesday, remittance inflows rose by 15.5 per cent to Rs. 1,532.93 billion, compared to a 17.2 per cent growth in the corresponding period of the previous year.

The report posted a largely positive economic outlook of the country.

In US dollar terms, inflows amounted to USD 11.25 billion, marking a 12.7 per cent rise. The monthly inflow for mid-May to mid-June stood at Rs. 176.32 billion, significantly higher than the Rs. 128.91 billion recorded in the same month last year.

The number of Nepalis taking first-time approvals for foreign employment reached 452,324, with an additional 308,067 receiving approvals for re-entry. Net secondary income, comprising remittance and other transfers, reached Rs. 1,668.30 billion, up from Rs.1,443.10 billion a year ago.

Meanwhile, consumer price inflation moderated notably. Y-o-y inflation stood at 2.72 per cent in mid-June 2025, down from 4.17 per cent a year earlier. Inflation in food and beverages was particularly low at 0.54 per cent, while non-food and services rose by 3.94 per cent. Notably, the price of ghee and oil increased by over 10 per cent, whereas vegetables saw a decline of 7.04 Per cent.

Inflation varied by region, with Koshi Province recording the highest at 4.18 per cent, followed by Sudurpashchim at 3.86 per cent, while Gandaki experienced the lowest inflation at 1.75 per cent. Urban inflation stood at 2.66 per cent, marginally lower than rural inflation at 2.90 per cent.

Nepal’s foreign exchange reserves also saw significant improvement. Gross reserves rose by 25.9 per cent to Rs.2,569.38 billion (USD 18.65 billion) by mid-June 2025, up from Rs. 2,041.10 billion (USD 15.27 billion) in mid-July 2024. Of this, NRB’s own reserves reached Rs.2,274.47 billion, while reserves held by banks and financial institutions grew to Rs. 294.92 billion. Indian currency accounted for 20.5 per cent of the total reserves.

Likewise, the NRB reported that on the foreign exchange adequacy front, current reserves are sufficient to cover 17.6 months of goods imports and 14.7 months of combined goods and services imports. Key reserve ratios – reserves-to-GDP and reserves-to-imports – stood at 42.1 per cent and 122.9 per cent respectively.

The current account remained in surplus at Rs. 307.31 billion (USD 2.26 billion), an improvement from Rs.200.38 billion (USD 1.51 billion) a year earlier. Likewise, the balance of payments (BOP) posted a surplus of Rs.491.44 billion (USD 3.62 billion), up from Rs.425.67 billion (USD 3.2 billion). Foreign direct investment (equity only) reached Rs.11.09 billion, also reflecting increased investor confidence.

Published in The Rising Nepal daily on 9 July 2025.   

FNCCI calls for monetary policy to boost private sector, revitalise economy

Kathmandu, July 8

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has emphasised the need for policy reforms to address the prevailing economic slowdown, risks in the financial sector, and the large share of the informal economy.

The aim is to revitalise the recovering economy, boost private sector confidence, and address risks related to anti-money laundering compliance, it said in its recommendations to Nepal Rastra Bank (NRB) for the Monetary Policy for Fiscal Year 2025/26.

Stating that poor governance and lack of infrastructure have hindered the effectiveness of policy reforms, the FNCCI called for a monetary strategy targeted towards infrastructure development.

A FNCCI delegation led by Acting President Anjan Shrestha, submitted these suggestions to NRB Governor Biswo Nath Poudel on Tuesday.

The federation urged the inclusion of concrete programmes to implement the credit restructuring and rescheduling provisions outlined in the budget for the FY 2025/26, to ensure the facility is accessible to small, medium, and large businesses alike. It further recommended clear and effective implementation of additional working capital provisions and interest penalties waivers.

FNCCI also stressed the need to facilitate easy access to working capital loans for productive sectors, tourism, construction, and housing development companies. It recommended that banks and borrowers be given the authority to decide on working capital loans based on nature of business.

Likewise, citing the decline of the industrial sector’s share in GDP to 12.4 per cent, it proposed that interest rates for industrial loans should be 1–2 per cent lower than that for trade.

Regarding Nepal's upcoming graduation from LDC status in 2026, FNCCI proposed concessional financing policies to sustain the competitiveness of micro, cottage, small, and women-led export-oriented enterprises. It also suggested linking women entrepreneurship loans to production and managing interest subsidies, as well as capping premium rates at 2 per cent for loans up to Rs. 50 million.

Furthermore, FNCCI called for flexibility in the watchlist provisions, and to attract Gen Z into entrepreneurship, it recommended facilitating business registration via the Nagarik App and offering project loans of up to Rs. 10 million. It also urged the implementation of FNCCI’s feasibility study in this regard.

Similarly, it proposed concessional loans for families of migrant workers who send remittances formally while still abroad. It recommended revising the current targeted lending policy to prioritise productive industries, tourism, and infrastructure, and called for the establishment of an asset management company in response to the growing volume of non-performing assets in banks and financial institutions.

Highlighting the prohibition on domestic remittances via remittance companies, FNCCI noted that this policy adversely affects low-income groups, students, informal workers, and those without access to bank accounts or smartphones, especially in remote areas. It recommended allowing internal transfers of up to Rs. 100,000 through remittance companies based on valid ID, equivalent to international cash payouts.

Additional recommendations include increasing the housing loan limit from Rs. 20 million to Rs. 30 million, linking KYC requirements to the National Identity Card to enable electronic access by relevant agencies, and implementing free interoperability for QR payments.

Regarding foreign investments, FNCCI suggested effective implementation of the budget provision allowing Nepali businesses to open sales branches or processing plants abroad and to invest up to 25 per cent of total exports. It also proposed that the monetary policy clarify the provision allowing Nepali citizens to receive sweat equity shares in return for providing technology or specialised services to foreign companies.

Published in The Rising Nepal daily on 9 July 2025.   

Dr. Khatiwada calls for dedicated financial for agriculture

  

Kathmandu, July 7

Economic Development Advisor to the Government of Nepal, Dr. Yuba Raj Khatiwada, has emphasised the need for a specialised financial institution for the development and transformation of the agricultural sector.

Speaking at the 24^th anniversary programme of Sana Kisan Bikas Laghubitta Bittiya Sanstha Ltd. (SKBBL) in Kathmandu on Sunday, he said that a dedicated financial institution is essential to carry out focused activities for the expansion and progress of agriculture.

He highlighted the important role played by the SKBBL in involving small farmers in agriculture, livestock, and income-generating activities. He warned that microfinance institutions would not be sustainable in the long term if they failed to align their programmes with enhancing production among members.

"It is not enough to just provide loans; institutions must also ensure that the investments generate income for their members," he said while praising the efforts of Sana Kisan as a model in this regard.

Dr. Khatiwada, who had also served as the Finance Minister and Governor of the Nepal Rastra Bank, said that due to effective utilisation of government support, the SKBBL had gained the trust of international agencies as well.

Referring to Nepal’s potential for enterprise and income generation through agriculture and livestock, he stressed the need to shift from individual to group-based production and earnings.

Likewise, he noted that there is already a market in third countries for Nepal’s meat products, including buff and pork, and that encouraging farmers to produce healthy livestock with guaranteed market access could raise their income levels.

“For that, we need specialised programmes and financial institutions. Sana Kisan has made progress in this direction and should continue to do so,” he said.

Dr. Khatiwada also recommended that alongside linking members to production and market access through agricultural cooperatives, more efforts should be made in storage, processing, packaging, and branding to further boost income levels.

He raised concerns over the increasing trend of mismanagement in savings cooperatives and small financial groups due to their failure to operate according to cooperative principles. However, he expressed confidence that the problem will gradually be resolved.

As opaque financial activities became more prevalent, the Bank and Financial Institutions Regulation Department of the NRB introduced and enforced the 'Guidelines and Standards for Savings and Credit Cooperatives, 2081', which went into effect on April 3, 2025.

Speaking on the occasion, Chairperson of the institution, Khem Bahadur Pathak, said that poor institutional governance had bred challenges within the cooperative sector.

According to him, the SKBBL has been working with 1,710 partner organisations across all 77 districts, serving 8.8 million members from 2.2 million households. Its focus areas include wholesale lending, capacity building, technology transfer, and youth entrepreneurship.

Similarly, SKBBL's CEO Dr. Shivaram Prasad Koirala, said that honest leadership in cooperatives and microfinance institutions ensures operations run smoothly. He claimed that even during challenging times, small farmer agricultural cooperatives have demonstrated notable performance in terms of transparency, resilience, and member benefit, including liquidity and profit distribution.

The Small Farmers Development Programme began in Nepal in mid-1970s. From 2001, it is being operated as a microfinance institution. Previously, it was registered as the Small Farmers Development Bank.

The institution currently has a paid-up capital of Rs. 4.31 billion including 38.9 per cent from the banks and financial institutions, 27.45 from small farmers cooperatives, 2.36 per cent from international financial institutions, 30.06 per cent from general public and 1.23 per cent from others.

The SKBBL is currently in partnership with 902 small farmer cooperatives and 808 other cooperatives and microfinance institutions.

Published in The Rising Nepal daily on 8 July 2025.   

Policy for collateral-free loans to Nepali migrant workers at final stage

Kathmandu, July 6

The Procedures for Providing Collateral-Free Loans to Nepali migrant workers has reached its final stage, Minister for Labour Employment and Social Security Sharat Singh Bhandari informed on Sunday.

Speaking at the final round of discussions to finalise the draft of the procedures held at the Ministry of Labour, Employment and Social Security (MoLESS), he said the procedure would enable workers to access simple and collateral-free loans.

He expressed concern over Nepali workers falling prey to exorbitant interest rates charged by loan sharks and stated that once implemented, the procedure will enhance their access to finance.

“Of the three 'D's - Debt, Death, and Digital Trap - that I often mention, this policy addresses the debt trap. Workers will be debt-free by the time they return from working abroad, and will also be able to benefit from state-arranged schemes such as social security and insurance,” said Minister Bhandari.

According to him, the procedures align with the government’s policy to offer unsecured loans to those going for foreign employment. He suggested that priority should be given to banks affiliated with the Social Security Fund.

“The key objective is to ensure that bank loans are secure, migrant workers can access financing easily, and they are protected from local loan sharks in their villages,” he said.

The procedure proposes that workers travelling to Gulf countries should be eligible for loans of at least Rs. 200,000, while those heading to Europe may access up to Rs. 500,000.

Saurabh Pokharel, a member of the drafting team from Nepal Rastra Bank, pledged full support for the implementation and suggested refining the procedure to clarify the loan recovery process, informed Minister's Secretariat in a statement.

Similarly, Anil Sharma from the Nepal Bankers’ Association praised the concept and assured that banks would fully cooperate in its implementation.

Labour Secretary Dr. Krishna Hari Pushkar noted that the procedure had remained stalled for a long time and stressed the need to move it forward without delay. He emphasised the importance of providing easy and accessible loans so that migrant workers could manage repayments more effectively upon returning from abroad.

Published in The Rising Nepal daily on 7 July 2025.   

'Seville Commitment milestone for LDCs' development'

PM returns home from Spain

Kathmandu, July 4

Prime Minister K.P. Sharma Oli has returned to Nepal after leading the Nepali delegation at the fourth International Conference on Financing for Development (FfD4) in Seville, Spain, held from June 30 to July 4.

The Prime Minister had led a delegation to Seville at the joint invitation of Spanish Prime Minister Pedro Sánchez Pérez Castejón and United Nations Secretary-General António Guterres. The conference aimed to bolster international cooperation for development and advocate for the needs of least developed countries (LDCs).

Addressing the General Debate of the conference on June 30, 2025, Prime Minister Oli, in his capacity as the Chair of the Global Coordination Bureau of Least Developed Countries, highlighted the significant challenges faced by LDCs. He urged developed nations and development partners to enhance their support and expand partnerships to address these issues.

Upon his arrival from Spain, the Prime Minister expressed confidence that the 'Sevilla Commitment' would serve as a milestone for the smooth and sustainable graduation and overall development and prosperity of LDCs. He also called for greater commitment and effort from the global community to implement this commitment.

During his address, Prime Minister Oli stated that Nepal is on track to graduate from an LDC by 2026 and is actively mobilising the necessary resources for this transition. He appealed to development partners and donor agencies to provide further assistance to Nepal's economic development.

PM Oli co-chaired a multi-stakeholder roundtable on 'Revitalising international development cooperation' where he emphasised the profound impact of poverty, inequality, debt burden, and climate change on LDCs and other developing countries. He underscored the importance of strengthening international development cooperation to tackle these challenges.

Prime Minister Oli also chaired a High-Level Event on LDCs, where he highlighted that these nations grapple with issues such as poverty, hunger, malnutrition, and trade deficits. He pointed out that a significant portion of their budgets is allocated to debt servicing, making it difficult to meet basic needs like education and healthcare for their citizens.

In this context, he called for concrete steps to implement the commitments made at the Financing for Development conference and for practical action plans to reduce the financial gap.

Similarly, Prime Minister Oli addressed the 'Unlocking water and sanitation financing through heads of state initiative', announcing Nepal's inclusion in this campaign related to water and sanitation. He reiterated Nepal's government's commitment to providing citizens with fundamental services, including access to clean drinking water and sanitation, which are enshrined as fundamental rights in Nepal's constitution.

At an event hosted by Spanish Prime Minister Pedro Sánchez, 'Investing in global solidarity: A new vision of development cooperation', Prime Minister Oli underscored the increasing importance of development partnerships for developing nations.

He stressed the need to increase concessional resources for developing countries and adhere to principles related to effective development cooperation to maximise outcomes from such assistance.

On the eve of the conference, June 29, Prime Minister Oli addressed the 'Civil society forum for FfD4', an event organised by civil society on development finance. He said that civil society is a crucial partner in achieving sustainable development goals and advocated for empowering their role in policy formulation, monitoring, and accountability systems.

On the sidelines of the conference, Prime Minister Oli held bilateral meetings with several heads of state and government. He met with Spanish Prime Minister Pedro Sánchez to discuss various matters of bilateral interest between Nepal and Spain. He also held discussions with Estonian President Alar Karis, Portuguese Prime Minister Luís Montenegro, and Egyptian Prime Minister Dr. Mostafa Kamal Madbouly on bilateral interests and concerns.

During his meeting with the Egyptian Prime Minister, Pm Oli appreciated Egypt for its ongoing cooperation in securing the release of Bipin Joshi, a Nepali citizen held captive by HAMAS, and requested continued efforts.

Prime Minister Oli also met with United Nations Secretary-General António Guterres. Their discussions focused on strengthening the relationship between Nepal and the UN, reinforcing multilateralism, and ensuring a sustainable transition for Nepal's graduation from an LDC. Guterres commended Nepal's contributions to UN peacekeeping.

At an interaction organised by the Nepali Embassy in Madrid with the Spanish business community, Prime Minister Oli invited investment in sectors such as hydropower, tourism, infrastructure, agriculture, and information technology. He also participated in an interaction with the Nepali diaspora in Spain, and discussed their potential role in Nepal's development and instructed the Nepali Embassy to undertake more effective and public-oriented initiatives to ensure the welfare and security of Nepalis residing there.

The Ministry of Foreign Affairs (MoFA) maintained that the Prime Minister's active participation elevated Nepal's image on the international stage. His discussions with the Spanish business community and Nepali diaspora are expected to promote investment in Nepal.

PM Oli's delegation included his spouse Radhika Shakya, his chief advisor Bishnu Prasad Rimal, and other senior government officials.

Published in The Rising Nepal daily on 5 July 2025.   

Parties to form panel to probe ‘cooling off’ provision tampering in Civil Service Bill

Kathmandu, July 5

A seven-member special parliamentary committee is to be formed to investigate alleged manipulation and irregularities in the cooling-off period provision of the Federal Civil Service Bill, 2080.

The decision was made during a meeting held on Saturday among the chief whips of various political parties, and chaired by Speaker Devraj Ghimire. Chief Whip of the CPN-UML, Mahesh Bartaula, confirmed the agreement to form the special committee.

According to Rule 180 of the House of Representatives Regulations, 2075, the special committee will include two members each from the Nepali Congress and CPN-UML, and one member each from the CPN (Maoist Centre), Rastriya Swatantra Party (RSP), and Rastriya Prajatantra Party (RPP).

The committee will be led by a representative from the Nepali Congress, according to Bartaula.

The names of the committee members will be announced in the meeting of the House of Representatives scheduled for Monday. The upcoming session of Parliament will endorse the decision to form the committee, which will then be granted 15 days to conduct its investigation and study.

The original bill tabled at the Parliament had a mandatory cooling-off period for civil servants before they could enter politics or accept political appointments after their retirement or resignation. But when it was passed, the provision had been changed weakening it significantly by allowing the retired civil servants to hold the public and constitutional posts.

The formation of the probe committee has come after the ratified bill drew widespread criticism from the lawmakers, civil society and media.

The committee is expected to identify how the changes occurred and who was responsible, and recommend corrective measures and actions. 

Published in The Rising Nepal daily on 6 July 2025.   

PM urges Malaysian investors to invest in Nepal

Kathmandu, July 5

A delegation from the Malaysia–Nepal Business Council called on Prime Minister KP Sharma Oli on Saturday and discussed investment opportunities and prospects in various sectors of Nepal.

During the meeting held at the Prime Minister's residence in Baluwatar, the 20-member delegation led by Pradeep Kumar Kukreja, Executive Chairman of Malaysia's Paradise Group, informed the Prime Minister that they were visiting Nepal with the intention of exploring meaningful business ventures, fostering bilateral relations, and gaining a detailed understanding of Nepal’s business environment.

According to a statement issued by PM's secretariat, he said that the government has been undertaking legal and structural reforms to promote and facilitate foreign investment as part of Nepal’s journey towards prosperity. He urged the delegation to invest in Nepal and assured them that the government is always ready to work in collaboration with the business community to identify and implement necessary improvements and facilitation measures in the future.

The delegation expressed interest in working in sectors such as plastic waste processing, information technology parks, and tourism, read the statement.

During the meeting, discussions were also held on the potential for investment in tourism, agriculture, information technology, human resources, textiles, and other sectors in Nepal.

The delegation, which arrived in Kathmandu on Wednesday, was facilitated by the Embassy of Nepal in Malaysia.

Prime Minister’s Chief Advisor Bishnu Prasad Rimal, Economic Advisor Dr. Yuba Raj Khatiwad, and other officials were present at the meeting. 

Published in The Rising Nepal daily on 6 July 2025.   

Contribution-based social security scheme being made mandatory

 Kathmandu, July 4

The government is set to introduce a mandatory contribution-based social security scheme for all government employees from the upcoming fiscal year 2025/26. This significant move, outlined in a recent directive from the Ministry of Finance (MoF) aims to provide long-term financial security and benefits to civil servants.

The directive issued on Friday follows a decision made by the Deputy Prime Minister and Minister for Finance on the same day. It mandates that all newly appointed government employees from the next fiscal year will be brought under the purview of the contribution-based social security system.

Existing employees who were not previously covered by a social security scheme will also be integrated into this new system. The MoF has requested relevant ministries, commissions, institutes, boards, committees, and other governmental bodies to make the necessary arrangements for the effective implementation of the scheme.

Likewise, the directive seeks information on the liabilities that may arise due to the non-implementation of the contribution-based social security scheme for employees not currently covered.

This initiative is a continuation of the government's efforts to expand social security coverage across the country, building on the success of the 'Contribution-Based Social Security Act, 2074' and the 'Social Security Regulations, 2075', which have been in effect for employees in the private sector since 2018.

The government has affirmed its commitment to implementing a comprehensive social security system for all citizens, according to the statement issued by the MoF.

Published in The Rising Nepal daily on 5 July 2025.   

Nepal is most favourable investment destination in South Asia: PM

Kathmandu, July 3

Prime Minister KP Sharma Oli has urged Spanish entrepreneurs to invest in Nepal stating that Nepal is one of the most favourable destinations for investment in South Asia,

"Political stability, open market policies, a competitive labour force, and laws ensuring investment security have made Nepal an attractive destination for international investors," he said while addressing a business interaction programme organised by the Nepali Embassy in Madrid, Spain, on Thursday.

The programme was attended by members of the Spanish and Nepali business communities, the Prime Minister's secretariat informed from Madrid.

Prime Minister Oli noted that Nepal has prioritised inclusive economic transformation and recognised the private sector as the key engine of economic growth.

He also made it clear that the government is committed to creating an investment-friendly environment by making legal, institutional, and procedural reforms more effective.

“Nepal has a clear path of stability, potential, and reform with vast opportunities in renewable energy, agriculture, information technology, tourism, health, and education,” said PM Oli, according to the Nepali Embassy in Madrid.

Nepal’s Ambassador to Spain, Sunil Nepal, said that the visit had opened many doors between Nepal and Spain. He also maintained that he had been making various efforts to enhance cooperation between the two countries in the areas such as investment, trade, education, skills, employment, tourism, art, and culture.

During the programme, Nepal’s Foreign Secretary Amrit Bahadur Rai, President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) Chandra Dhakal, among others, also discussed the prospects of bilateral cooperation between Nepal and Spain.

Rai delivered a statement at the Ministerial Meeting of the Landlocked Developing Countries (LLDCs) on ‘Financing a New Decade of Development for Landlocked Developing Countries’ on the margins of the FfD4.

"In his statement, he highlighted steep and structural barriers to progress faced by landlocked developing countries due to their geographical isolation and lack of sea access, among others," according to the Embassy.

The embassy hosted a special event following Prime Minister Oli's participation in the Fourth International Conference on Financing for Development (FfD4) held in Spain.

Meanwhile, PM Oli visited the famous football club Real Madrid's Santiago Bernabéu Stadium in Madrid where he was welcomed and given a tour of the state-of-the-art stadium by the club's international director, Pedro Martin de Miguel.

Likewise, he also inspected the office of the Nepali Embassy and Prado National Museum there.

The Nepali delegation, led by Prime Minister Oli, which departed for Spain last Saturday, is scheduled to return to Nepal on Thursday. PM Oli is arriving in Kathmandu on Friday afternoon. 

Published in The Rising Nepal daily on 4 July 2025.   

Dhakal urges Spanish businesses to invest in Nepal

Kathmandu, July 3

President of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), Chandra Prasad Dhakal, has urged Spanish entrepreneurs to strengthen economic relations between Nepal and Spain and to explore greater investment collaboration.

Addressing a programme organised by the Nepali Embassy in Madrid on Wednesday, President Dhakal highlighted the numerous investment opportunities available in Nepal and urged Spanish businesses to consider investing in those sectors.

The event was attended by members of the Spanish Chamber of Commerce and Industry, business leaders, representatives of the Nepali community, and diplomatic dignitaries.

According to a statement issued by the FNCCI, Dhakal said that there is strong potential for cooperation between the two countries in tourism, energy, agriculture, information technology, and infrastructure sectors.

He said the unique religious, cultural, and natural attractions ranging from Mount Everest to Lumbini, the birthplace of Lord Buddha are unique features of Nepal. He stated that investing in quality services and infrastructure would help Nepal attract more tourists from around the world.

Likewise, Dhakal mentioned that Nepal has developed an investment-friendly environment, established a ‘one-stop service centre’ to simplify investment and company registration processes, and prioritised sectors such as energy, agriculture, IT, construction, and digital innovation in the national budget by offering tax exemptions and simplifying business regulations.

“Our goal is to make doing business in Nepal easy, quick, and transparent,” he said. “The FNCCI has continuously lobbied the government for policy reforms, resulting in the amendment of over 30 business-related laws, thereby creating a more conducive environment for investment.”

Highlighting Nepal’s huge potential in clean energy, with over 40,000 megawatts of untapped hydropower capacity, and the expansion of regional electricity trade and transmission infrastructure, he described this as an opportune time for Spanish companies.

Dhakal also encouraged the Spanish business community to visit Nepal.

He noted that Nepali entrepreneurs are keen to learn from Spain’s globally successful tourism industry. He also assured that the FNCCI would assist in identifying sectors, finding local partners, and understanding processes.

Discussing the role of the Nepali diaspora in Spain, he urged them to act as economic ambassadors by promoting Nepali products, attracting investment, and supporting tourism development.

Published in The Rising Nepal daily on 4 July 2025.   

Global IME’s new mutual fund scheme from July 7

Kathmandu, June 3

Global IME Capital Limited is set to open the public issuance of its new mutual fund scheme, 'Global IME Samunnat Scheme 2', from July 7.

The scheme will begin with an initial fund size of Rs. 1.2 billion, with a provision to expand up to Rs. 1.5 billion.

"Designed to offer long-term benefits to investors, the scheme aims to invest in both equity and fixed-income instruments, thereby maintaining a balanced risk profile," the company said in a statement on Thursday.

It is fully operated under the Mutual Fund Regulations 2067, ensuring transparency, investor protection, and efficient fund management.

Key features of the scheme include a closed-ended structure, a face value of Rs. 10 per unit, and a minimum investment requirement of 100 units. Investors can purchase up to 10 per cent of the total fund, equivalent to 12 million units.

Likewise, the scheme will have a tenure of 10 years from the date of unit allotment and will be listed on the Nepal Stock Exchange (NEPSE).

The projected annual average return is 22.49 per cent, translating to an estimated total return of 224.96 per cent over 10 years.

The scheme is also expected to provide annual dividends ranging from 8 per cent to 20 per cent during the first nine years. The expected internal rate of return stands at 16.88 per cent.

Global IME Capital, the scheme manager, was established in 2008 and holding an 81.5 per cent ownership by Global IME Bank. Investors can apply through ASBA member banks and financial institutions or use the online Mero Share platform.

The scheme has received an ICRA NP issuer rating of A- and an INFOMERICS rating of IRN AMC Quality 3 Plus, further ensuring credibility and reliability for potential investors, the company claimed.

Published in The Rising Nepal daily on 4 July 2025.   

Govt will achieve revenue target: DPM Paudel

Kathmandu, July 2

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has said that the government would achieve revenue targets through measures such as expanding the tax net, curbing revenue leakage, adopting information technology, and enhancing the effectiveness of revenue administration.

Responding to queries raised by lawmakers in the National Assembly on Wednesday, DPM Paudel has affirmed the government’s commitment to achieving the revenue target set by the budget of the next Fiscal Year 2025/26 – Rs. 1,315 billion - against the expenditure estimates of Rs. 1,964 billion.

He clarified that the budget was prepared within a systematic framework rather than in an ad hoc or ritualistic manner.

According to him, the budget is evidence-based and will be implemented upon parliamentary approval.

DPM Paudel assured that the government remains vigilant to ensure the scope of public debt does not become unlimited, while focus would be maintained on productive and capital expenditure.

Stressing the importance of financial discipline, he noted the need for Nepal to be removed from the grey list and to intensify efforts against money laundering.

"Regarding taxation, the threshold on luxury tax has been removed. Discussions are ongoing about concerns raised by gold jewellery traders, expressing confidence that a shared conclusion would be reached through dialogue," he said.

The DPM maintained that the budget reflected the spirit of democracy and republicanism and incorporates feedback provided by parliamentarians during the budget formulation process.

Published in The Rising Nepal daily on 3 July 2025.   

Comprehensive labour reform needed for prosperity, says Minister Bhandari

Kathmandu, July 2

Labour, Employment and Social Security Minister Sarat Singh Bhandari has stressed the need for comprehensive development in the labour and employment sectors.

"The country cannot achieve prosperity through physical infrastructure alone, we must give equal importance to human development, employment, and social security," he said while speaking during discussions on the Appropriation Bill 2082 at the National Assembly on Wednesday.

Responding to concerns and suggestions raised by the lawmakers, Minister Bhandari underlined the need to adopt a multi-dimensional approach to labour and employment.

He proposed launching a nationwide campaign over the next decade to generate domestic employment as it would play a crucial role not only in poverty reduction but also in driving economic and social development.

Minister Bhandari expressed the ministry’s commitment to maximising the utilisation of Nepal’s natural and human resources in order to achieve national prosperity and self-reliance. He called for parliamentary support in this endeavour.

He announced plans to make the National Vocational Training Institute more effective.

“Labour is an individual’s capital, and productivity must be tied to skills,” he noted while adding that his Ministry is working to employ youth domestically by incorporating advanced technologies in employment services for both Nepalis in the country and abroad.

Minister Bhandari further informed the House that the ministry has already initiated robust policy and institutional reforms to make foreign employment safe, dignified, and well-regulated. Labour agreements have been proposed with 13 new European countries, and legal amendments are underway to crack down on fraud through the use of local administrative and judicial mechanisms.

Published in The Rising Nepal daily on 3 July 2025.   

Nepal, Malaysia investment potential discussed

Kathmandu, July 2

A delegation from the Malaysia-Nepal Business Council held discussions on 'enhancing trade facilitation and investment between the two countries' with the Nepal Chamber of Commerce (NCC) on Wednesday.

The meeting took place at the Chamber’s Secretariat in Jamal, Kathmandu.

Discussions between the NCC delegation led by its President Kamalesh Kumar Agrawal and the Malaysian team led by Council's President Pradeep Kumar Kukreja focused on strengthening bilateral economic relations, expanding employment opportunities, and promoting greater investment cooperation, the NCC informed in a statement.

While Kukreja proposed expanding bilateral investment and trade partnerships, Agrawal highlighted the 65-year-old diplomatic relationship between Nepal and Malaysia and described the trade, investment, and employment links as exemplary. He noted that about 500,000 Nepali youths are currently employed in Malaysia, and the two countries share one of the most extensive aviation networks.

Agrawal underscored the significant contributions of Nepali workers to the economies of both nations but expressed concern over Nepal’s growing trade deficit with Malaysia. He emphasised the need for trade facilitation measures to address this imbalance.

Urging Malaysian entrepreneurs to invest in Nepal, Agrawal pointed to promising sectors such as energy, manufacturing, agriculture, tourism, mining, education, and healthcare. He also encouraged the increased import of Nepali goods as a step towards narrowing the trade gap, asserting that Nepal offers excellent opportunities for investment.

Likewise, Kukreja expressed admiration for Nepal’s tourism sector, stating that the delegation had come to Nepal after recognising its investment potential. He affirmed the Council's intention to collaborate with the Chamber in fostering a conducive business environment.

Published in The Rising Nepal daily on 3 July 2025.   

Chef Santosh Shah launches Janakpur Fish House in Naxal

Kathmandu, July 2

BBC Master Chef Santosh Shah has launched the traditional fish cuisine of Janakpur in his new restaurant ‘Janakpur Fish House’ in Naxal, Kathmandu.

The restaurant offers an authentic taste, style, and dishes of Janakpur, giving food lovers a chance to enjoy the region’s original culinary flavours in the heart of the capital, Shah informed in a statement on Wednesday.

According to him, the Fish House aims to serve fish in its traditional style- pan-fried on a thick griddle using yellow mustard oil-preserving the unique and indigenous flavour of Janakpur. The restaurant features an open kitchen concept and offers live fish options for customers.

Chef Santosh has collaborated with his brother, Chef Dilip Shah, to bring this concept to life. Chef Dilip, who introduced Santosh to the hospitality industry, brings over 35 years of experience working in the hospitality sectors of Nepal, India, and Central America.

Speaking about the inspiration behind the venture, Chef Dilip says, “Just like grilled meat sold by the kilogram has become popular in Kathmandu, we aim to create a similar culture with fish. We are trying to recreate the taste and experience of eating fish the way it's traditionally done in Janakpur.”

The menu at Janakpur Fish House features around 10 varieties of fish dishes. The signature Tawa Fish will be served with Janakpuri murai (puffed rice) and radish pickle. Other offerings include trout, prawns, fish chili, and a special fish set—all prepared in the traditional Mithila and Janakpur culinary style.

Chef Santosh also mentions that a variety of beverages are available at reasonable prices. His previously launched ‘Mithila Thali’ has already gained popularity across the country. The Mithila Thali now has branches in Janakpur and several locations in Kathmandu, including Naxal, Gairidhara, Gaushala, and Jhamsikhel.

“My mission is to promote cuisine from the Tarai region while within Nepal, and represent broader Nepali food when abroad,” said Chef Santosh. “This initiative is an example of cross-promotion, aiming to bring the rich flavours of Mithila and Janakpur to Kathmandu.”

Published in The Rising Nepal daily on 3 July 2025.   

PM Oli underscores partnerships for development

Kathmandu, July 1

Prime Minister KP Sharma Oli participated in multiple international events on global solidarity, sustainable development and access to water, sanitation, and hygiene (WASH) in Seville, Spain on Tuesday.

PM Oli is in Seville leading a Nepali delegation to participate in the Fourth International Conference on Financing for Development (FfD4). He is also engaged at various events organised on the sidelines of the conference.

Speaking at an event on 'Investing in global solidarity: A new vision of development cooperation' convened by Pedro Sanchez, President of Spain, PM Oli highlighted the enduring value of development cooperation.

He noted its importance, especially amidst rising nationalism, protectionism, and global conflicts, and said that development cooperation is not charity, instead, it is a pledge to ensure no one is left behind in the pursuit of progress.

He characterized development cooperation as partnerships. "These partnerships empower communities, strengthen institutions, build capacity and foster resilience. Development cooperation is 'solidarity in action," he said.

According to him, goals of such coopeeration include lasting peace, shared prosperity, climate justice, and a just, fair, and equitable world.

Prime Minister Oli acknowledged the tangible results achieved through development cooperation over the years. However, he also raised concerns to the fragmentation of development aid which is spread across too many small projects and parallel channels. It also has too many competing priorities and such fragmentation often has diluted its impact.

Likewise, he expressed his concerns to the shift from grants to loans which is likely to affect countries already facing unsustainable debt burdens. Expressing hopes in the 'Sevilla Commitment' adopted on Monday, he expressed his belief that it will translate principles into progress through global solidarity. He welcomed its focus on strengthening international development cooperation for sustainable development.

PM Oli stressed the need to deliver on commitments and principles of effectiveness, and called for innovative ways to mobilise resources. "The goal is to make development cooperation meaningful for people on the ground. Developing countries face increasing financial stress, including rising debt. In this context, concessional finance is essential, not optional," he said.

Meanwhile, speaking at another event, Prime Minister Oli called for bold and urgent action to support the world's Least Developed Countries (LDCs).

Highlighting that development aid is drying up, remittance costs remain high, and climate injustice disproportionately affects LDCs, he said, “This is not just a fiscal crisis, it is a human one."

Calling for stronger domestic resource mobilisation, more grants, and private investment, PM Oli said, “With the right financing, we can invest in people and create lasting opportunity.” He urged world leaders to act decisively to build a fairer and more sustainable future.

 

Commitment to WASH

Meanwhile, Prime Minister Oli co-organised and spoke at a side event. The event focused on the Sanitation and Water for All (SWA) Initiative was jointly organised by the Governments of Nepal and Burundi in collaboration with the SWA.

PM Oli noted that billions worldwide still lack access to basic WASH facilities, with over 2 billion people lacking safe drinking water and 3.5 billion without safely managed sanitation. "Waterborne diseases and poor sanitation continue to pose a major public health crisis, leading to preventable deaths, particularly among children. To achieve universal WASH coverage by 2030, progress needs to accelerate by as much as six-fold, demanding collective global action," he said.

Stating that Nepal's constitution recognises access to clean water and sanitation as a fundamental right, he said the nation is determined to realise its aspiration of 'Prosperous Nepal, Happy Nepali' by ensuring every household has essential services, including WASH. The country has already achieved 96 per cent basic water supply coverage as of 2024, though challenges remain in delivering quality and sustainable services.

In his address, Prime Minister Oli called upon all development partners to continue their support to Nepal in building the necessary infrastructure and strengthening institutions to achieve these shared goals.

Published in The Rising Nepal daily on 2 July 2025.   

Nepal seeks climate finance for mountain agriculture

Kathmandu, July 1

Foreign Minister Dr. Arzu Rana Deuba has urged the international community to support sustainable agricultural systems and provide climate financing for mountainous regions in countries like Nepal.

In her address to the 44^th session of the United Nations Food and Agriculture Organisation (FAO) held in Rome on Monday, she urged for grant-based international climate financing to be ensured for Nepal, which is severely affected by climate change, particularly its Himalayan regions.

“Nepal and similar countries in the Himalayan regions are the most affected by the climate crisis. However, these areas have been largely neglected in climate financing and adaptation efforts," she said stressing that all stakeholders pay due attention to this issue.

Stating that agriculture held high importance for Nepal, FM Dr. Rana informed that the sector contributes around 23 per cent to the country’s Gross Domestic Product (GDP), and nearly a two-thirds of the population depend on it for their livelihood. She underlined the crucial role agriculture plays in food security, nutrition, poverty alleviation, and rural development.

She pointed out that the goal of achieving a hunger-free world by 2030 remains unmet and that global crisis such as the pandemic, climate emergency, economic instability, and geopolitical tensions are threatening the achievement of the Sustainable Development Goals (SDGs).

The Foreign Minister emphasised that promoting sustainable and resilient mountain agriculture is essential not just for livelihoods but also for preserving global biodiversity, ensuring food security, and maintaining ecological balance.

Expressing Nepal’s willingness to expand successful and innovative agricultural practices through the ‘Four Betters’ approach, FM Dr. Rana said, “We are seeking collaboration to enhance farmers’ access to early warning systems. In the face of rising climate risks, we look forward to stronger cooperation with the FAO for promoting sustainable mountain agriculture."

Likewise, Nepal expects the sharing of knowledge and experiences on successful practices to increase the participation and leadership of women and youth, she said.

Meanwhile, speaking at a high-session on agriculture and food system – held as a part of the session, FM Dr. Rana invited international investors and multinational companies to invest directly in Nepal's agricultural sector.

Inviting global investors to benefit from Nepal’s unique and indigenous agricultural products by investing in the sector, she said, “Due to insufficient large-scale investment and lack of modernisation, Nepal has not been able to export agricultural products at scale despite significant potential. We are in urgent need of substantial foreign investment in this area.”

Dr. Rana, who also served as a chairperson of the Parliamentary Committee on Agriculture, Cooperatives, and Natural Resources, noted that agriculture in Nepal is still viewed as a low-status occupation, and this perception has hindered the development and modernisation of the sector. Without upgrading agriculture and aligning it with modern times, the country has failed to transform it into an export-oriented industry.

Despite Nepal’s challenging topography with 83 per cent of the country being mountainous or hilly with highly fragmented land, agriculture has long been tied to economic self-reliance and poverty reduction.

She also expressed concern over the increasing negative impacts of climate change on agriculture, calling it a serious issue for Nepal. With many men and young people absent from villages, crop damage from wild animals has become more frequent, leading to hardships for farmers and growing human-wildlife conflict, said Dr. Rana.

Published in The Rising Nepal daily on 2 July 2025.