MBAN meets SEBON chair Dr. Bhatta

 Kathmandu, July 2

The Merchant Bankers' Association of Nepal (MBAN) has underscored the importance of enhancing market transparency, good governance and regulatory effectiveness in order to reinforce investor confidence in the capital market in Nepal.

Speaking at a meeting with the newly appointed Chairperson of the Securities Board of Nepal (SEBON), Dr Gopal Prasad Bhatta, they recommended measures to make the capital market more dynamic and effective.

"Both sides exchanged views on strengthening investor confidence in mutual funds, Initial Public Offerings (IPOs) and private equity, and fostering an investment-friendly environment," read a statement from the MBAN.

During the meeting, MBAN expressed its confidence that, under Dr. Bhatta's leadership, Nepal's capital market would become more efficient, transparent and credible.

Likewise, Dr. Bhatta stated that SEBON would continue to prioritise collaboration with the private sector and maintain regular dialogue with market stakeholders in the coming days.

The MBAN and SEBON reaffirmed their shared commitment to further strengthening cooperation, coordination and continuous dialogue to support the sustainable, orderly and inclusive development of Nepal's capital market.

Thapa appointed Chair of TU Service Commission

Jha named Ministry Advisor

 

Kathmandu, July 1

The government has appointed former secretary and urban planner Kishor Thapa as Chair of the Tribhuvan University Service Commission.

The appointment was made by Prime Minister and Chancellor of Tribhuvan University, Balendra Shah.

The Chair Recommendation Committee, led by Pro-Chancellor and Minister for Education and Sports Sasmit Pokharel, had reviewed applications, conducted evaluations and interviews, and recommended three candidates to the Chancellor for the position.

Widely recognised as an architect and urban planner, Thapa has contributed to Nepal's civil service for more than four decades in a range of senior leadership roles. He previously served as Secretary at the Ministry of Urban Development, the Ministry of Education, the Ministry of Culture, Tourism and Civil Aviation, and the Water and Energy Commission Secretariat, among other government institutions.

He played a leading role in the formulation and implementation of several major government policies and programmes, including the National Housing Plan, the National Urban Development Strategy, the Technical and Vocational Education and Training Policy, and Nepal Tourism Year 2011.

Following the 2015 earthquake, Thapa served as an expert member of the Steering Committee of the National Reconstruction Authority, contributing to the country's post-disaster reconstruction efforts. He brings extensive experience in housing, urban development, infrastructure, disaster management and public policy.

Likewise, Professor Dr. Rejina Maskey has also been appointed as a Member of the Commission.

Meanwhile, Shailendra Jha, has been appointed Advisor to the Ministry of Education and Sports.

Jha is currently undertaking academic study and professional research at Vanderbilt University in the United States under the prestigious Hubert H. Humphrey Fellowship (2025–26) funded by the U.S. Department of State.

Previously, Jha served as a Board Member of the Kathmandu Metropolitan City Urban Planning Commission, where he oversaw education, technology and social innovation. In that role, he led policy development, strategic planning, resource mobilisation and monitoring for the Metropolitan City's Education Department, Social Development Department, and research and innovation initiatives.

He also spent nearly eight years with Teach for Nepal. Jha is the founding Chair of BITS Leader International Pvt. Ltd. Academically, he holds Master's degrees in Information and Communication Engineering from Germany, Development Management from the Philippines, and Applied Economics from Bangladesh.

Published in The Rising Nepal daily on 2 July 2026.      

Centre questions 23 local govts for budget delays

Kathmandu, July 1

The federal government has sought clarification from 23 local governments that failed to present their annual policy, programme and budget for the Fiscal Year 2026/27 within the stipulated deadline.

Ministry of Land Management, Cooperatives, Federal Affairs and General Administration has sent official letters to the concerned rural municipalities and municipalities on Wednesday to submit a detailed explanation outlining the current status of the budget preparation process and the reasons for the delay.

The local governments are asked to submit their response within three days.

Under the Local Government Operation Act, 2017 and the Intergovernmental Fiscal Arrangement Act, 2017, local governments are legally required to have their revenue and expenditure estimates (budget) for the forthcoming fiscal year approved by the executive and presented to the local assembly by 24 June (10 Ashadh), with final approval to be completed by mid-July.

The Ministry said that, based on information entered into its online portal and reports it has received, a few local governments have not yet presented their budget for the FY 2026/27 within the timeframe prescribed by law, prompting the request for clarification.

The letter from the Federal Affairs Ministry also asks local governments to specify the current stage of the budget preparation process, explain why they were unable to present the budget to the assembly within the prescribed deadline, and indicate whether any additional coordination or facilitation from the Ministry is required. The requested information should also be submitted within three days of receiving the letter.

In addition, the Ministry has requested local governments to provide the schedule of forthcoming meetings of their assemblies to help ensure that the budget can be endorsed by mid-July.

The Ministry said the initiative is intended to ensure that the budget preparation process at the local level is completed on time and that the legal provisions governing the process are fully implemented.

Published in The Rising Nepal daily on 2 July 2026.      

ADB approves loan for customs modernisation in Nepal

Kathmandu, July 1

The Asian Development Bank (ADB) has approved a US$50 million (Rs. 7.55 billion) policy-based loan to help Nepal modernise its customs administration, boost trade, and support job creation.

The loan supports subprogramme II of the South Asia Subregional Economic Cooperation (SASEC) Customs and Logistics Reforms Program, building on earlier efforts to advance customs processes and develop the logistics sector in the country, the ADB informed in a statement on Wednesday.

According to the ADB, the programme will modernise customs through digitalisation, risk-based inspections, and streamlined procedures, while strengthening the logistics sector through better infrastructure planning, regulatory frameworks, and coordination. "These reforms will reduce trade costs, improve border predictability and supply chain efficiency, and support more efficient movement of goods and deeper integration into regional value chains," read the statement.

ADB Country Director for Nepal Arnaud Cauchois said that by making cross-border trade faster, more predictable, and cost-efficient, this programme will strengthen the business environment, enhance competitiveness, attract investment, and support quality job creation.

Despite recent progress, Nepal’s trade competitiveness remains constrained by complex customs procedures and an underdeveloped logistics sector. High inspection rates, paper-based processes, and fragmented supply chains have increased transaction costs and limited export potential.

The multilateral donor said that the programme addresses these challenges by promoting automation, enhancing service standards, and encouraging private sector participation in logistics development. By improving trade efficiency and reducing logistics costs, it is expected to help expand exports, improve the reliability of cross-border trade, and support higher private sector participation. 

Published in The Rising Nepal daily on 2 July 2026.      

Pak envoy calls on President

Kathmandu, July 1

The Ambassador of Pakistan to Nepal Abrar H. Hashmi, paid a farewell courtesy call on President Ram Chandra Poudel at the President’s Office.

On the occasion, the President congratulated Ambassador Hashmi on the successful completion of his tenure and expressed confidence that the relations between Nepal and Pakistan will be further strengthened in the future.

Nepal and Pakistan established bilateral diplomatic relations on March 20, 1960. Both of them work closely within the framework of the United Nations and the South Asian Association for Regional Cooperation (SAARC). 

Published in The Rising Nepal daily on 2 July 2026.     

InDrive launches safe driving course

Kathmandu, July 1

Mobility and delivery platform inDrive has launched an online safe driving course in Nepal to provide driver partners with training on road safety, passenger interaction and emergency response.

The company informed in a statement that the mobile-friendly course, which takes around 20 minutes to complete, is already available on the platform. While many drivers have completed the training, the company plans to extend the programme to more than 100,000 inDrive drivers across Nepal.

The training programme consists of three modules covering on-platform safety and professional boundaries, road safety for ride-hailing services, and emergency response procedures.

The first module focuses on maintaining professional and respectful interactions with passengers and setting appropriate boundaries during rides. The second provides practical guidance on defensive driving, situational awareness and safe driving practices in traffic and unfamiliar environments. The third explains how drivers should respond during emergencies, including the use of the in-app SOS feature and incident reporting procedures.

According to the company, each module includes a five-minute instructional video followed by five multiple-choice questions. Drivers are required to score at least 80 per cent across all modules to receive a course completion certificate. Those who do not achieve the required score can retake the quizzes without any limit.

“The training programme is intended to improve drivers' understanding of road safety, strengthen risk management skills and help them respond more effectively to challenging situations while providing ride-hailing services,” read the statement.

Sunita Jeemi Rai, Senior Driver Operations Specialist at inDrive Nepal, said the course was designed to help drivers become better prepared for situations they may encounter on the road and to provide practical guidance that could improve safety for both drivers and passengers.

Published in The Rising Nepal daily on 2 July 2026.     

Nabil Bank receives Gold Award for its annual award

Kathmandu, July 1

Nabil Bank Limited has received the Gold Award in the private sector bank category at the annual awards presented by the Institute of Chartered Accountants of Nepal (ICAN), marking its third consecutive win.

In addition, the bank received Certificates of Merit in both the Corporate Governance Disclosure Award and Sustainability Reporting Award, which were introduced in the Best Presented Accounts (BPA) Awards for the first time this year.

“With these two new recognitions, along with the Gold Award for Best Annual Report for the third consecutive year, the bank has been honoured with three awards simultaneously,” the bank said in a statement.

The awards were presented to Nabil Bank’s CEO Manoj Gyawali and Chief Financial Officer Sandip Babu Poudel by ICAN President CA Nil Bahadur Saru Magar at a programme on Tuesday.

ICAN conferred the awards based on the bank's annual report published for the fiscal year 2025. The selection criteria included financial transparency, accountability, corporate governance and sustainability. According to ICAN, Nabil Bank excelled in all these areas and was therefore selected for the awards.

The bank had also received the Gold Award for its annual reports for 2023 and 2024. According to the organisers, the award-winning annual report has also been nominated to represent Nepal at the South Asian Federation of Accountants (SAFA) Best Presented Annual Report Awards, read the statement.

Nabil Bank currently provides banking services to more than 2.5 million customers through a network of 266 branches and 318 ATMs across the country.

Published in The Rising Nepal daily on 2 July 2026.     

Minister Chaudhary calls for greater climate justice

Kathmandu, June 30

Minister for Agriculture, Forests and Environment Gita Chaudhary has called for greater climate justice, increased climate finance and stronger international cooperation to support vulnerable countries affected by climate change.

Addressing the Seventh Climate and Sustainable Development Goals (SDGs) Conference in Bangkok on Tuesday, she said Nepal contributes only a negligible share of global greenhouse gas emissions but continues to face severe impacts and risks from climate change.

“Nepal's status as a least developed, landlocked and high-mountain country makes it particularly vulnerable, despite its contribution to biodiversity conservation and ecosystem protection that helps regulate the global climate,” the Embassy of Nepal in Bangkok quoted Minister Chaudhary as saying in a statement.

The conference, jointly organised by the United Nations Department of Economic and Social Affairs (UNDESA), the United Nations Framework Convention on Climate Change (UNFCCC) Secretariat and the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), was held in Bangkok from June 29 to 30.

The conference discussed synergies between the Paris Agreement and the SDGs, and integrated action for climate, environment and sustainable development.

Minister Chaudhary stressed the need to place mountain issues at the centre of the global climate agenda, saying the Himalayas, often described as Asia's water reservoir, and their glaciers are vital to the region.

She said coordinated implementation of climate commitments and the SDGs is essential for Nepal to maximise the use of its limited resources. Investments in climate action, she added, should also accelerate progress towards the SDGs and deliver wider development benefits.

Likewise, Minister Chaudhary said that Nepal's third Nationally Determined Contributions (NDC 3.0) and National Adaptation Plan (NAP) have been fully aligned with the SDGs and prepared with the participation of government agencies, non-governmental organisations and the private sector.

According to the Embassy, she appealed to the international community to support their implementation.

Minister Chaudhary also urged developed countries to ensure adequate, predictable, grant-based and easily accessible climate finance and to provide assistance to affected communities through the Loss and Damage Fund.

She further called for improved market access for organic products from least developed, landlocked and mountainous countries, contributing to environmental and biodiversity conservation.

Environment ministers and representatives from Nepal, Thailand, Sri Lanka, the Maldives, Tajikistan, Bangladesh, Indonesia, Fiji and Pakistan, among other countries, participated in the conference.

Published in The Rising Nepal daily on 1 July 2026.    

SA grants amnesty to 33 Nepali inmates

Kathmandu, June 30

Nepal has extended its appreciation and gratitude to Saudi Arabia for granting a royal pardon to 33 Nepali inmates on the occasion of Ramadan 1447 AH (2026).

“The Government of Nepal highly appreciates this kind gesture as a reflection of the longstanding friendship, goodwill, and cordial bilateral relations between Nepal and Saudi Arabia,” the Ministry of Foreign Affairs said in a statement on Tuesday.

The pardon was granted following the request made by the GoN through its Embassy in Riyadh.

The inmates will return to Nepal upon completion of the due legal process in Saudi Arabia, read the statement. 

Published in The Rising Nepal daily on 1 July 2026.