UAE Minister calls on President Paudel

Kathmandu, July 10

The United Arab Emirates' Minister for Foreign Trade Dr. Thani Ahmed Al Zeyoudi paid a courtesy call on President Ramchandra Paudel at the latter's office on Friday.

The President's Office informed in a statement that President Paudel and the UAE minister discussed the existing bilateral relations, mutual interests, and concerns between Nepal and the UAE.

The visiting minister also held bilateral talks with Nepal's Minister for Industry, Commerce and Supplies Gauri Kumari.

The talks were focused on cooperation and exchanges in the areas of trade, investment and tourism, as well as matters related to the Comprehensive Economic Partnership Agreement (CEPA), Spokesperson of the Ministry of Foreign Affairs Lok Bahadur Poudel Chhetri informed at a press meet on Friday.

Earlier, Minister Zeyoudi held courtesy meetings with the Minister for Foreign Affairs Shisir Khanal, PM's Chief Political Advisor Asim Shah, and Chief of Army Staff Ashok Raj Sigdel.

During the meetings, the two sides discussed a range of issues of mutual interest, including trade, investment, artificial intelligence, digital transformation, tourism, labour migration, infrastructure development, renewable energy and increasing investment through Sovereign Wealth Funds in priority sectors.

Likewise, he also met Minister of Finance Dr. Swarnim Wagle, Speaker of the House of Representatives DP Aryal and the Minister of Home Affairs Sudhan Gurung.

The delegation is also expected to hold meetings with representatives of Nepal's private sector.

Zeyoudi arrived in Nepal on Wednesday leading an 18-member delegation.

836 Nepalis rescued from scam centres

Meanwhile, the government has rescued a total of 836 Nepali nationals from scam centres operating in the border areas of Cambodia, Myanmar, Laos, and Thailand as of July 9. Of them, 709 were rescued from Cambodia, 113 from Myanmar, eight from Laos and six from Thailand.

"At the continuous request of the Nepali Embassy, the Government of Cambodia has been waiving visa fees and penalties for Nepali nationals who have overstayed their visas. This year, the Cambodian government has waived the fees of a total of 602 individuals. A request has also been made to waive penalties for additional Nepali nationals," said Chhetri.

According to the MoFA, it has been continuously coordinating and undertaking initiatives to rescue Nepali nationals who have fallen victim to various online scamming centres in South East Asian nations.

Since 1 May 2026, the Embassy of Nepal in Bangkok has been collecting information through an online form and issuing free one-way travel permits to all Nepali nationals who have lost their passports and sending them to Cambodia.

Relatives of Nepali nationals who are unwilling to return from Cambodia are urged to make every effort to encourage them to return to Nepal.

10 new strategies being prepared

To strengthen economic diplomacy, the government is preparing Country Specific Strategies for an additional 10 countries- Bangladesh, Pakistan, Qatar, Saudi Arabia, Thailand, Malaysia, France, Russia, Canada and Türkiye, bringing the total to 20 countries.

Earlier, in fiscal year 2024/25, the government had prepared strategies for 10 countries including India, China, the United States, the United Kingdom, Australia, Japan, Germany, Belgium, South Korea and the United Arab Emirates.

Nepal-Australia Bilateral meet on July 24

Meanwhile, the third meeting of the Nepal-Australia Bilateral Consultative Mechanism is scheduled to be held in Kathmandu on 24 July. The Nepali delegation will be led by the Foreign Secretary Amrit Bahadur Rai, while the Australian delegation will be led by Sarah Storey, First Assistant Secretary of the Department of Foreign Affairs and Trade of Australia.

Nepal and Australia signed an agreement to establish the Bilateral Consultative Mechanism on 14 July 2017.

Likewise, the MoFA said that Nepal is closely monitoring recent developments in the West Asia region.

"We have consistently maintained that dialogue and diplomacy are the only sustainable means of resolving disputes. We support ongoing initiatives aimed at achieving lasting peace in the region and ensuring the uninterrupted use of the Strait of Hormuz," it said.

According to Chhetri, the situation of Nepali nationals residing there remains normal, and the ministry continues to remain vigilant regarding their safety and well-being.

Published in The Rising Nepal daily on 11 July 2026.         

Government to begin refunding depositors of troubled cooperatives

Kathmandu, May 5

The government has announced that it will begin returning the savings of depositors of troubled cooperatives from mid-May (the first week of Jestha in the Nepali calendar).

The Problematic Cooperative Management Committee, which started work on April 22, has collected the necessary details of cooperatives and depositors and is preparing to refund the savings, the Ministry of Land Management, Cooperatives and Poverty Alleviation informed.

According to the committee, around Rs. 46 billion must be returned to approximately 76,000 depositors of these troubled cooperatives.

Most of them are small depositors. Those with savings of less than Rs. 500,000 are classified as small depositors, while those with more than Rs. 500,000 are considered large depositors. Out of the total 76,000, only about 18,000 depositors have savings exceeding Rs. 500,000.

Minister for Land Management, Cooperatives and Poverty Alleviation, Pratibha Rawal, said that much of the preparatory work for the refunds has already been completed and the process will now begin.

“We have already completed a great deal of work. We will prioritise returning funds to small depositors first,” she said. The committee has also stated that it will adopt a policy of initiating the refund process while giving priority to loan recovery.

As per the Procedures for the Establishment and Operation of the Revolving Fund for Refund of Savings to Members of Problematic Cooperatives 2083, the committee, by its own decision, may give priority to small depositors. Among depositors, priority will be given to single women, senior citizens over the age of sixty, Dalit and indigenous nationality communities, and persons with disabilities.

The committee further announced that the refund process for claim-submitting depositors will begin from the first week of Jestha, while a second window for claims by those who missed the initial process will open in the third week of May.

It also stated that funds allocated by the government to the revolving fund will be used only as loans if the committee’s own fund proves insufficient.

According to the Procedures, the revolving fund will be created with the fund received from the government, reimbursement sums returned by the relevant cooperative society, and sums received from other sources.

Money recovered from the auction of assets belonging to directors, audit committees, managers, loan sub-committees, and individuals with authority or responsibility who were involved in the embezzlement or misappropriation of the institution’s assets, savings, loans, or shares, as well as any other sums recovered from such persons will also be deposited into the fund.

"If the sale of assets proves insufficient to refund the depositors, the Committee may also freeze and auction assets that have been transferred or invested in companies by family members of the individuals involved, whether such transfers occurred through property partition, divorce, or any other means," according to the Procedures.

Committee Member-Secretary Rabin Dhakal said that strict legal measures will be adopted for loan recovery.

Managers, directors are last to be refunded

The refunding of savings will be made on the basis of the records, details received from the cooperative, or the balance amounts shown in the computer system up to the day preceding the date on which the cooperative institution was declared problematic.

However, depositors who have taken loans from the cooperatives will get a refund after they have fully repaid the loans, reads the Procedures.

Similarly, the savings of directors and managers of the relevant institution, savings of members of their immediate family, and individuals involved in embezzlement or misappropriation shall not be refunded until the liabilities of depositors who have submitted claims have been settled.

If the claim for refund of savings is sub-judice in court, the process to refund the savings will not be started until the case is settled.

However, if a depositor has savings in multiple federal-level problematic cooperative organisations, he/she will get a refund only from one such institution. If funds are insufficient, the Committee is likely to distribute the remaining funds in the account on a pro-rata basis.

In the event of a depositor's death or if they cannot be located, the savings will be refunded to their legal heir based on evidence provided.

Sick pillar of economy

Although cooperative is mentioned in the constitution as one of the pillars of the national economy, it remained unregulated and unsupervised sector for the last seven decades. Mismanagement and fund embezzlement in large and high-profile cooperatives were exposed in the last one decade.

The government began to declare cooperatives as 'problematic' since 2018. In 2024, a parliamentary probe found that about Rs. 87.89 billion was misappropriated in at least 40 cooperatives. They also had faked their audit reports and fabricated property divisions.

In January this year, the Supreme Court ordered the government to return funds to small depositors – those with less than Rs. 500,000.

On April 22, the government issued the Procedures to operate the revolving fund. With President Ramchandra Paudel ratifying the Cooperative (First Amendment Ordinance) last week, the government can now use public funds for immediate repayment to victims. 

Published in The Rising Nepal daily on 6 May 2026.           

Missions struggle to find resources to rescue Nepalis from scam centres

Kathmandu, Feb. 25

The rescue of Nepali citizens who have been involved in online scamming centres operating in Myanmar, Cambodia, Laos and other east Asian countries is affected by lack of financial resources.

It also has delayed the rescue operation and repatriation activities.

"Officials from the Embassy of Nepal in Bangkok need to travel to other countries like Cambodia and stay there. If we make any correspondence instead of visiting the respective country to complete the rescue and repatriation, the entire process is delayed," Prakash Adhikari, Chief of South East Asia and the Pacific Division at the MoFA said at a programme organised at the Ministry on Wednesday.

Since the mission doesn't get additional budget to conduct such activities and has to manage with meagre resources available, it sometimes requests the Non-Resident Nepali Association (NRNA) and local non-government organsiations (NGOs) to facilitate in the process.

NRN's support is sought while rescuing Nepalis from the online scamming centres in Cambodia and Laos while local NGOs helped in similar operation in Myanmar, said Adhikari. The mission, that also has the responsibility of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), is understaffed.

The process of repatriation is also delayed if Nepalis weren't sent to Nepal immediately. If the repatriation is delayed even by a day, they had to undergo an anti-human trafficking screening which generally takes about a month.

"If we could hold an immediate dialogue with the Thai authorities and repatriate our citizens on the same day via connecting flights, they need not to wait for the screening," said Adhikari. This screening is also conducted to check if the victim is genuine and hadn't acted as an agent to the scam centres.

Adhikari informed that on an average it takes 2.5 months to 3 months to bring back a Nepali national after rescuing from the scam centre. This period could be longer in case of Cambodia since Nepal doesn't have its mission there and needs to rely on Nepali community or NRNA.

According to Adhikari, as per the rule, support can't be mobilised from the Foreign Employment Welfare Fund if the workers hadn't obtained labour permit from the government.

However, since it is the duty of the country to rescue its official in trouble abroad, the MoFA is in dialogue with the Ministry of Finance and Ministry of Labour, Employment and Social Security to manage resources. Discussions now are focused on forming a joint mechanism to create a fund and facilitate the rescue and repatriation activities.

"We are also studying the effective mechanism implemented by other countries," said Adhikari.

Lok Bahadur Poudel Chhetri, Spokesperson of the MoFA, said that although the concerned agencies are coordinating for such operations, it is yet to be effective.

Likewise, Pushpa Raj Bhattarai, Chief of Labour Migration and Nepali Diaspora Coordination Division, said that hundreds of Nepalis are employed by the scam centres. "It is difficult to locate them and reach out to our people as they are in conflict-prone areas and the operators use satellite phone," he said.

The number of Nepalis rescued by the Embassy of Nepal in Bangkok has been significantly going up in the past three years. In 2023/24, the Embassy rescued and repatriated 68 Nepalis from the scam centres. The number went up to 156 in 2024/25 while in the past seven and a half months of the current year, 168 individuals were sent back to Nepal. The crisis came to the surface in 2022.

About 248 Nepalis are waiting rescue in Cambodia.

Many individuals are required to pay substantial fines during the return process from Cambodia and, in some cases, serve long prison sentences in accordance with Cambodian immigration laws.

Bhattarai said that most of the Nepalis recruited by the scam centres were educated with most of them completing the bachelor's level and speaking in English.

For example, one of the four Nepalis rescued earlier this month had completed undergraduate studies in Thailand and had been working as a hotel receptionist, but reported travelling to Myanmar after being lured by the prospect of higher earnings.

"Another individual from Dang said that he had previously worked as a computer operator at a government office in Dang for several years," the Embassy had informed in a statement.

The Embassy and the MoFA have repeatedly urged Nepalis not to fall for offers of lucrative employment in Myamnar, Cambodia and the Golden Triangle region of Laos under the pretext of travelling to Thailand.

"The worrisome matter is, educated youth who know that it is risky to travel to the countries that haven't signed labour agreement with Nepal, even with individual labour permit," said Bhattarai.

He suggested that Nepali going abroad for job and education purposes should inform the respective mission upon their arrival and inform their family and friends back home.

Likewise, they should file a complaint at the police in Nepal after reaching here. But according to the MoFA, a very small number of rescued individuals has filed such cases. 

 Published in The Rising Nepal daily on 26 February 2026.     

Youth, salaried employees vulnerable to 'get-rich-quick' virtual assets schemes

Kathmandu, Jan. 1

An analysis of the Financial Intelligence Unit at the Nepal Rastra Bank (NRB) revealed that 75 per cent of individuals suspected of involvement in Virtual Assets-related activities are between 21 and 35 years of age. Students (29 per cent) and salaried employees (21 per cent) constitute the largest occupational groups.

Virtual assets are digital forms of value such as cryptocurrencies–such as Bitcoin and Ethereum–stablecoins, utility tokens, and other tokenized assets that can be traded, transferred, or used for payments and investments.

"This represents a critical vulnerability indicator. This digitally proficient demographic is disproportionately targeted by, and vulnerable to, online investment scams and 'get-rich-quick' schemes," said the NRB in its Strategic Analysis Report, 2025 on Virtual Assets published on Thursday.

According to it, this finding highlights a significant gap in financial literacy and consumer protection, underscoring the urgent need for targeted public awareness campaigns, particularly for young adults and students.

Key typologies observed in VA-related activities include illegal foreign exchange transactions, hundi, online fraud, disguising the true nature of business activities while engaging in cryptocurrency trading, and the use of money mules involving the bank accounts of family members and relatives.

The NRB informed that although the virtual assets related Suspicious Activity Report or Suspicious Transaction Report (SARs/STRs) at the concerned reporting agencies have shown a fluctuating trend, the number has gone up significantly in recent years.

"Thirteen STRs/SARs were reported in 2021, rising sharply to 173 in 2022. The number declined to 138 in 2023 before increasing again to 252 in 2024," read the report.

As of 16 July 2025, a total of 82 VA-related STRs/SARs have been reported.

A significant majority (91.19 per cent) of virtual asset (VA)-related STRs/SARs were reported by commercial banks.

According to the NRB, this may be attributed to the use of bank accounts for VA-related activities, including the receipt of returns on virtual asset investments.

The integration of all commercial banks into the goAML system (an electronic reporting and analysis platform used for anti–money laundering and counter-terrorist financing (AML/CFT) purposes) and the strengthening of suspicious transaction reporting mechanisms may also have contributed to the higher level of reporting.

Likewise, most VA-related STRs/SARs have been disseminated to the Nepal Police, followed by the Department of Revenue Investigation. The majority were forwarded to the Nepal Police, as they are responsible for investigating predicate offences such as the use of virtual assets and hundi-related activities. Only six cases were disseminated to the Department of Money Laundering Investigation (DMLI).

The central bank said that while most analyses resulted in suspicion of the use of virtual assets, only a limited number of cases could be directly linked to money laundering through virtual assets.

VA-related STRs/SARs are primarily triggered by ongoing transaction monitoring conducted by banks and financial institutions (BFIs), as well as information received from informal sources, such as emails or screenshots indicating that a customer’s account is linked to VA-related applications like Binance.

Other key drivers include direct enquiries from law enforcement and investigative agencies, and intelligence received from walk-in customers.

In a few instances, money mules were found to be unaware that their accounts were being used for VA-related activities or of the legal prohibitions governing such activities. The NRB said that some individuals were found to have misused dollar cards to purchase cryptocurrency, while others defrauded victims by persuading them to transfer funds in exchange for promised high returns through crypto or Bitcoin investments.

"As Nepal remains in the early stages of digitisation and technological adoption, other predicate offences and illegal activities—such as digital fraud, investment scams, online gambling and hundi—are increasingly intertwined with the use of virtual assets, making them more susceptible to money laundering, terrorist financing and proliferation financing risks," read the report.

The continued rise in VA-related STRs, despite the legal ban on the use of virtual assets, suggests that restrictive measures alone are insufficient to mitigate these risks, concluded the NRB indicating to the need for a strategic shift—from a total prohibition towards enhanced detection, investigation and public awareness—to effectively manage the evolving threat, which is increasingly operating within the informal and illicit economy.

The report suggested that the reporting agencies should practice thorough monitoring of customer transactions and behaviour from deviations from expected patterns, particularly where virtual asset involvement is suspected. It also recommended for the timely update of the KYC (Know Your Customer) information, timely reporting, and regular training and public awareness.

The NRB also stressed on the capacity building of the law enforcement agencies to enhance investigators' skills, cross-agency information sharing and integration, enhancement of investigative tools and techniques, and forging foreign cooperation and partnerships. 

Published in The Rising Nepal daily on 2 January 2026. 

47 Nepalis rescued from Myanmar, repatriated to Kathmandu

Kathmandu, Dec. 10

A total of 47 Nepali citizens who had been lured to Myanmar through false employment promises and forced to work in illegal online scamming centres have been rescued and repatriated to Nepal.

The rescue operation was carried out by the Embassy of Nepal in Bangkok with the support and coordination of relevant Thai authorities. The group arrived in Kathmandu on Wednesday on a Nepal Airlines flight.

The Embassy informed in a statement that the rescued individuals are from 26 districts and included 45 men and 2 women.

The duration of their forced employment in the scamming centres ranges from two months to 18 months.

Those repatriated comprised one individual each from Chitwan, Dailekh, Kaski, Kathmandu, Kavre, Palpa, Ramechhap, Rautahat, Salyan, Sarlahi, Sindhuli, Taplejung and Tehrathum; two each from Dang, Mahottari, Morang, Nawalparasi, Nuwakot, Syangja and Tanahun; three each from Dhading, Gorkha, Rupandehi, Sindhupalchok and Udaypur; and five from Jhapa.

"The age group of the rescued ranged widely, including one 17-year-old, 26 individuals aged between 20 and 25, ten aged between 26 and 30, eight aged between 31 and 35, and two individuals aged 40 and 41, respectively," read the statement.

Most had completed 10+2 level education and several had backgrounds in information technology.

The Embassy reported that the victims had been recruited through various channels, including friends, acquaintances, online gaming partners, and social media advertisements.

Interestingly, some had been contacted while studying in India or working abroad in countries such as the UAE. Platforms such as WhatsApp, Viber, Messenger, TikTok and Telegram were commonly used to make job offers, often promising attractive hourly wages in Kathmandu.

"After initial communication, they were persuaded with claims of high-salary opportunities abroad in office work, call centres, computer operation or receptionist roles, leading them eventually to centres operating illegal online dating, casino, gaming, phishing and cryptocurrency scams," according to the Embassy.

The rescued individuals said that once inside these scamming networks, they were initially treated well, but later subjected to pressure through strict performance targets. Failure to meet these targets resulted in accusations of other crimes, severe financial penalties, physical abuse, confinement, extortion, threats of imprisonment, or even violence.

Some were held hostage until they brought in another recruit to replace them.

 

141 rescued this year

In recent years, citizens of Nepal and several other countries have become stranded in scamming hubs located along the Cambodia–Thailand border, Myanmar–Thailand border, and in Laos.

In response, the Nepali Embassy in Bangkok began issuing travel advisories from August 23, warning Nepali people against travelling to these regions for unverified employment. But Nepali youth are turning deaf ears to such advisories and fallen prey to the scammer schemes that promise foreign employment with high income.

The Embassy has since been working with Thai authorities to rescue Nepalis identified as victims of human trafficking. According to official data, 68 Nepalis were rescued in Fiscal Year 2023/24, 156 in FY 2024/25 and 141 in the current FY 2025/26 so far.

 

Cooperation with Thai government

According to the Embassy, the latest rescue was carried out under the Standard Operating Procedure (SOP) introduced by the Thai government to facilitate the repatriation of foreign nationals stranded in Myawaddy, Myanmar.

The SOP involves coordination between Myanmar’s military or police authorities, Myanmar’s Ministry of Foreign Affairs, Thailand’s Ministry of Foreign Affairs, and local Thai immigration offices. The Embassy verifies travel documents and issues one-way permits where necessary before arranging repatriation.

It said that the rescued individuals underwent basic health checks, screening for human-trafficking indicators, immigration procedures and baggage inspections before being flown to Nepal.

The Thai government has requested that Nepal investigate the cases fully to identify and prosecute the actual perpetrators behind the trafficking networks.

Suspecting that some returnees may have acted as victims or intermediaries within the trafficking chain, the Embassy has also urged authorities to conduct necessary inquiries.

Meanwhile, the Embassy has once again appealed to Nepali citizens to avoid rushing abroad under dubious employment offers, to verify job claims made through social media or acquaintances, and to seek foreign employment only through official government channels.

Published in The Rising Nepal daily on 11 December 2025.

Fourteen Nepalis rescued from Myanmar

Kathmandu, Nov. 5

Fourteen Nepali nationals who had been lured through various means and taken to Myanmar, where they were forced to work in illegally operated online scamming centres, have been rescued.

The Embassy of Nepal In Thailand in coordination with the concerned authorities of Myanmar and Thailand successfully rescued them from Myawaddy, Myanmar, and brought them to Thailand via the Mae Sot Immigration Office in Tak Province.

They were repatriated to Nepal on Wednesday on Nepal Airlines flight RA402, the Embassy informed in a statement.

"Similarly, efforts are underway, in coordination with the relevant authorities of Myanmar and Thailand, to repatriate 11 more Nepali nationals from Myanmar at the earliest possible time," read the statement.

Since 19 October this year, more than 2,000 foreign nationals from 28 different countries, including 38 Nepalis, have entered Thailand after being rescued from various scamming centres in Myawaddy.

According to the Embassy, coordination with the Thai authorities is ongoing to facilitate the return of these 38 Nepalis to Nepal as well.

The Embassy has again urged Nepali citizens to travel abroad for employment only after obtaining labour approval as prescribed by the government, and to avoid being misled by false promises of easy and quick money abroad. "In particular, individuals are strongly advised not to travel to countries such as Cambodia, Laos, Myanmar, and Thailand under the pretext of tourism for illegal employment purposes," it said.

The Embassy has rescued hundreds of Nepali nationals from scam centres in Myanmar in the past several years. 

  Published in The Rising Nepal daily on 6 November 2025.        

Govt to support in loss not covered by insurance, market mechanism

Kathmandu, Oct. 25

Finance Minister Rameshore Khanal has said that the government will bear the losses incurred during the Gen Z protests if such damages are not covered by insurance or financial system.

"If the losses suffered by the private sector during the protests are not covered by any other mechanism, the government will step in to bear them," he said while accepting a report “Gen-Z Movement: Roadmap for the Economy after the Destruction” (Gen Z Aandolan: Dhwansa Pachhiko Arthatantrako Margachitra) prepared by Nepal Association of Financial Journalists (NAFIJ) at the Finance Ministry on Saturday.

FM Khanal maintained that while some markets manage themselves through natural processes, arrangements have been made for loan investments to support reconstruction. The government has extended the loan repayment periods for the businesses vandalised or set ablaze during the protests while some insurance claims will be covered by insurers.

However, for the types of losses that cannot be covered by insurance, banks and financial institutions, or market processes, the government will have to manage some form of compensation. Currently, the government is discussing the need and modality of such compensation, according to FM Khanal.

“The government is carefully assessing the damages. To help businesses restore their lost properties, the government will either provide grants or soft loans. The incumbent government will complete that work within its tenure," he said.

For this, the government is collecting official data on the damage. Once the details are available, necessary support will be provided to affected businesses.

Minister Khanal further said that while the official data has yet to be finalised, a task force is working to compile details of properties that have suffered loss and damage. Based on the forthcoming report, the government will assist businesses in restoring their lost assets.

FM Khanal reiterated that the current government aims to establish a path toward policy stability. However, he noted that it is not feasible to enact new laws and ensure their continuity at the moment, as the government’s main mandate is to conduct elections.

“Politically, it is not convenient for this government to issue ordinances for purposes other than elections,” Khanal said. “We will carry out tasks that can be implemented through cabinet decisions. We can also prepare the groundwork and drafts for necessary laws and hand them over to the next government.”

Speaking on the occasion, NAFIJ President Menuka Karki said that the report is prepared following a discussion on 'The way forward for economic recovery' participated by representatives from 15 businesses and industries, organised in the wake of the Gen Z movement, and focus group discussions conducted in Pokhara, Birgunj and Biratnagar.

She said that NAFIJ expects the report to be useful for the government in future policy formulation, as well as for researchers seeking to understand the economic impact of the Gen Z movement.

  Published in The Rising Nepal daily on 26 October 2025.     

Let’s not spare cooperative fraudsters: PM Karki

Kathmandu, Oct. 16

Prime Minister Sushila Karki has taken initiative to address the grievances of victims of the cooperative scam.

She held a discussion with the Cooperatives Ministry and other stakeholders at the Prime Minister’s Office at Singha Durbar on Thursday to address the problems faced by victims of cooperative fraud.

Minister for Land Management, Cooperatives and Poverty Alleviation Anil Sinha, Secretary of the Ministry Kedarnath Sharma, Secretary of the PMO Rajkumar Shrestha, Chairperson of the Problematic Cooperatives Management Committee Shriman Kumar Gautam, officials from the Cooperative Regulatory Authority, and representatives of the National Federation for the Protection of Cooperative Depositors participated in the meeting.

Speaking at the meeting, PM Karki said that those involved in cooperative fraud should not be let off under any circumstances.

"We must not let those who swindle and live lavishly off others’ savings go scut free. They walk around wearing gold watches, drive expensive cars, and claiming to have divorced to avoid accountability. We cannot allow them to go unpunished. If the law is inadequate, then let’s amend it," the Prime Minister stated.

"Do whatever needs to be done, but let’s not spare the fraudsters. Let us end the situation where the victims are left weeping in the streets," she directed the concerned authorities.

According to PM Karki, this must be done immediately since it is the government’s responsibility.

“The primary duties of this government are to successfully conduct the elections, take action against corruption, and resolve the cooperative crisis. That is why we are here," she added.

The Prime Minister also emphasised that even if it means auctioning off the properties of those involved in fraud, the savings of the victims must be returned.

"If not us, who? This government will do it. It is unacceptable for victims to be crying in the streets while the fraudsters roam comfortably, well-dressed and unbothered. This is not the mark of a civilised society," she remarked. "If we must auction their property, so be it. If they’ve fled abroad, we must track them down and proceed accordingly."

  Published in The Rising Nepal daily on 17 October 2025.     

Insurers unable to meet big insurance claims, seek support from reinsurers

Kathmandu, Sept. 14

Non-life insurance companies have expressed their inability to immediately settle large insurance claims arising from physical and other damages caused during the recent protests.

According to the insurers, they can promptly pay out small claims, but in the case of larger claims, reinsurers will need to provide advance payments in order to facilitate liquidity management.

At a discussion organised by the Nepal Insurance Authority (NIA) on Sunday regarding the impact of physical and other damages on the insurance sector during the protests, chief executive officers of non-life and reinsurance companies have said that they will not be in a position to settle the large claims immediately.

While the damage assessment work is underway, the damage to the property and business is estimated at hundreds of billions of rupees. Tourism sector alone has witnessed a loss of about Rs. 25 billion, according to the industry experts.

Hundreds of government structures including federal and provincial ministries, parliaments, local bodies and ward offices, houses of leaders, hotels, cable cars, business complexes and supermarkets were vandalised and torched. Hundreds of government-owned and private vehicles were vandalised and torched.

There are 14 non-life insurance and two reinsurance companies and 1,249 surveyors in Nepal.

According to a statement of the NIA, the CEOs said survey reports could not be obtained in cases where physical property was completely destroyed during the protests due to exceptional circumstances.

Since ward offices and police stations have also been damaged, it has become difficult to obtain official recommendations, so the insurers have demanded that claim settlements be arranged on the basis of minimal documentation.

Similarly, CEOs of reinsurance companies stressed that data must be reliable when insurers make reinsurance proposals. They assured their readiness to provide necessary support in matter of claim settlements.

Meanwhile, the authority is introducing simplified procedures for claim settlements in cases of losses caused by non-natural disasters. It has therefore requested CEOs of insurers and reinsurers to provide feedback and suggestions within three days.

Sushil Dev Subedi, Executive Director of the NIA, directed insurers to ensure that the public remains confident that insurance claims are payable once insurance is purchased. He instructed the companies to appoint focal persons for data collection and to facilitate claim settlements, and to make this information publicly available.

He further instructed insurers to promptly inform policyholders if they become aware of damages to insured property or assets, and to take initiatives to advance the claim settlement process accordingly.

In another discussion, the Insurance Surveyors’ Association called for arrangements to submit survey reports on the basis of minimal documentation, taking into account the current difficult situation, and demanded that surveyors be given easy access to damaged sites.

They also stressed that survey work should be allocated proportionately and that surveyors should be made more accountable.

In response, Executive Director Subedi clarified that surveyors can continue to work effectively even under current circumstances based on the licences they have obtained.

 Published in The Rising Nepal daily on 15 September 2025.   

NBI condemns vandalism and arson on businesses

 Kathmandu, Sept. 11

The National Business Initiative (NBI) has strongly condemned the vandalism and arson that occurred against important physical structures and private sector properties during the protests.

In a statement published on Thursday, NBI said such activities are certain to have a profound impact on the nation's economy, and it could take a long time to return to a normal state.

Expressing condolences to the families of those who lost their lives during the protests, wishing a speedy recovery for the injured, it said, "We urge the relevant authorities to ensure fair compensation for the loss of life and property in the private sector."

According to NBI, for decades, the private sector has borne the brunt of protest movements, and this trend appears to be discouraging to the private sector. If the private sector does not feel secure, there will undoubtedly be a decline in productivity and employment, leading to long-term negative consequences for the economy. "In such a situation, it will be difficult to attract both domestic and foreign investment," said NBI adding that the path forward must be based on a zero-tolerance approach to corruption.

Published in The Rising Nepal daily on 12 September 2025.   

Analysts call for extreme caution to restore normalcy

 Kathmandu, Sept. 9

With the fall of KP Sharma Oli-led government formed with the CPN-UML and Nepali Congress alliance following a nationwide protest put forth by 'GenZ' on Monday and Tuesday, a political void has been created amidst all institutions – with an exception of Nepali Army and a couple of other agencies – losing political legitimacy.

Meanwhile, governments at the provincial level have fallen and some local levels are facing extreme situations due to arson and vandalising by the protestors. Social media posts of many, including political analysts, expressed concerns to the fragile political situation, lost public trust in the state institutions and lack of decisive leadership in the part of the demonstrators. They asked a question, what next?

Since the prevailing Constitution of Nepal doesn't imaging the situation like this, it demands out of the book and innovative solutions that are accepted by the demonstrators and the society at large.

"Our constitution didn't imagine the situation whereby the prime minister resigned and the gap created subsequently. Now, the responsibility comes upon the president to find a way," said Krishna Khanal, a professor and political analyst.

He suggested that President Ramchandra Paudel, in consultation with the parties of the current struggle, should find a person to form an interim government to define the future political course of the country.

According to Prof. Khanal, primary concern of the institutions that have responsibility and public trust should address the demands raised from the ground. He denied the possibility of appointing any person from the existing political parties as the leader of the new government. "Now the country has a challenge to find a way that would address the demand of the people and wouldn't much disturb the constitutional provisions," he said while adding that such a way could be similar with the one the country adopted while extending the tenure of the Constitutional Assembly when it failed to formulate the constitution and dissolved in May 2012.

"We should apply extreme caution to maintain the political order," said Prof. Khanal.

While the constitution is not clear about the situation that erupted since Tuesday and there are no institution of political legitimacy in the country, many have rested their hopes with the Nepali Army.

 

Responsibility of Army and President

Political analyst Dr. Chandra Dev Bhatta said that the country shouldn't delay in forming a transitional government that would include civil society members and representatives of the youth protestors. Nepali Army and the President should take initiative for it, according to him.

"The immediate need of the country is a well-functioning government that would protect lives and public and private property. Since the legitimacy of existing political parties is over for now, credible institutions and persons should be brought onboard," said Dr. Bhatta.

It is likely that the country would be on the path of the Bangladesh – the protests, fall of the government and formation of a government in a leadership of socially trusted person that would include civil society members as well as the youth protestors.

Since the demonstrators have demanded their participation in the government, the government is likely to have their representative(s). However, since the leadership of the protests in Nepal – unlike Bangladesh - is not clear, the process might see some glitches.

Likewise, former ambassador Madhu Raman Acharya wrote on X that it would be appropriate for the President to assume authority until an alternative arrangement is made.

"With the Prime Minister having already resigned, it would be appropriate for the President to assume authority until an alternative arrangement is in place and to initiate a new process for the formation of a government in consultation with the protesters, the parties both inside and outside Parliament, as well as civil society," he said.

Meanwhile, the President Paudel in a statement on Tuesday evening appealed to all parties for dialogue. "Since the demands of the citizens in a democracy can be resolved through dialogue and negotiation with their representatives, I appeal to all parties to exercise restraint, not harm the country, and come to the negotiating table," reads a statement from the Office of the President.

 

'Final phase of success'

Later in the evening on Tuesday, the GenZ Alliance declared the protest to be in its 'final phase of success'.

In a statement circulated in the name of the Alliance, they demanded the formation of an interim government by dissolving the federal and provincial governments and hold a national GenZ National Conference.

They also called for a judicial commission to investigate all incidents of state oppression during the movement.

"A judicial commission will be formed to investigate all incidents of state oppression that occurred during the movement. Fundamental structures of the Nepal Constitution will be protected and progressive revisions would be made," said the GenZ Alliance while adding that during this process, they would be active in the reconstruction and production works.

A high-level commission will be formed to investigate and take legal action against former Prime Minister KP Sharma Oli, all party leaders, and all individuals who publicly supported them, read the statement.

The Nepali Army in its statement said that it is committed to protect the lives and proporty of Nepali citizens. As the protestors vandalized and torched the public properties including the Supreme Court, Singha Durbar, office of the Commission for the Investigation of Abuse of Authority, ministries, offices of the provincial and local governments and other agencies, public posts on social media condemned such activities.

Many historic monuments, buildings and artifacts have been turned into ashes, as a result. The GenZ Alliance through its statement has urged its supporters to refrain from vandalising the public property and return to safe locations. 

Published in The Rising Nepal daily on 10 September 2025.   

India urges for peaceful dialogues

Kathmandu, Sept. 9

The Government of India has expressed its hope that the stakeholders of the movement led by GenZ in Nepal will address the issues through peaceful means and dialogues.

Issuing a statement on 'recent developments in Nepal' on Tuesday, the Ministry of External Affairs (MEA) said, "As a close friend and neighbour, we hope that all concerned will exercise restraint and address issues through peaceful means and dialogue."

According to the statement, the GoI has been closely monitoring the developments taking place in Nepal since yesterday and is deeply saddened by the loss of many young lives. "Our thoughts and prayers are with the families of the deceased. We also wish a speedy recovery to those who have been injured," it said.

Noting the curfew imposed by the authorities in Kathmandu and several other cities of Nepal, the MEA advised the Indian nationals residing in Nepal to remain cautious and to follow the measures and instructions issued by the Nepali authorities.

Earlier, issuing a joint statement, the embassies of Australia, Finland France, Germany, Japan, the Republic of Korea, Norway, the United Kingdom, and the United States of America in Nepal urged all parties to exercise maximum restraint, avoid further escalation, and ensure that these fundamental rights are protected.

"Our governments reaffirm their strong support for the universal rights of peaceful assembly and freedom of expression," they said while expressing condolences to the families of the victims of the violence and all those affected.

Likewise, United Nations Resident Coordinator in Nepal Hanaa Singer-Hamdy also urged in tweet on Monday to exercise maximum restraint and caution ensuring that citizens can safely and peacefully exercise their democratic rights.

Similarly, Transparency International in Nepal said in a statement that instead of providing a peaceful resolution and taking concrete steps to control the corruption that has reached an extreme level and to take action against the corrupt, the use of state power to suppress the voices of the youth has led to the tragic loss of more than a dozen young lives.

"This has created a deeply painful situation. Transparency International Nepal urges the Government of Nepal to take legal action against those responsible and to act with utmost seriousness to prevent further conflict, which could result in even greater loss of life and property," it said on Monday. 

Published in The Rising Nepal daily on 10 September 2025.   

Suspicious transaction activities surge by 49 per cent: NRB

 Kathmandu, May 20

The Financial Information Unit (FIU-Nepal) at the Nepal Rastra Bank (NRB) reported a significant rise in suspicious transaction activity in 2024.

According to its fourth annual newsletter, covering January to December 2024, Suspicious Transaction Reports (STRs) and Suspicious Activity Reports (SARs) submitted by reporting institutions increased by approximately 49 per cent compared to the previous year 2023.

In 2024, the FIU received 9,304 suspicious transaction reports, up from 6,255 in 2023. This marks the highest number recorded since the implementation of the Money Laundering Prevention Act, 2064. Of these, 1,894 reports were analysed, with 1,086 forwarded to law enforcement and regulatory bodies for further action. The remaining 808 were archived for potential re-analysis in case new information collected.

Likewise, threshold transaction reporting also rose notably. The FIU received 1.97 million Threshold Transaction Reports (TTRs) in 2024, compared to 1.78 million in 2023.

These reports involve large-value transactions above a defined monetary limit and are submitted by financial institutions as part of routine monitoring under the Nepal Rastra Bank (NRB) regulations.

Largest number of cases were received from the commercial banks (7713) followed by development banks (612), finance companies (303), stock brokers (290) and payment service provider (166).

 

Meanwhile, technological infrastructure of the FIU has also been expanded last year. The number of entities connected to the FIU’s goAML system, a platform for digital submission and communication of financial intelligence, grew from 1,496 in 2023 to 1,905 by the end of 2024. These include reporting institutions such as banks, insurers, and remittance companies, as well as law enforcement and regulatory bodies.

Last year, FIU-Nepal onboarded Designated Non-Financial Businesses and Professions (DNFBPs), such as casinos, Dealers in Precious Metals and Stones (DPMS), real estate agents, and hire purchase loan providers, into the goAML system.

Integration also encompassed law enforcement agencies and supervisory bodies, creating a unified platform that brought together all relevant stakeholders. This collective effort significantly enhanced the security of data transmission and improved operational efficiency, Bashu Dev Bhattarai, Head of FIU-Nepal, said in the report.

The Unit also conducted training programmes for its staff and stakeholders which were aimed at enhancing compliance with anti-money laundering (AML) and counter-terrorism financing (CFT) obligations.

According to the FIU, in 2024, a major focus was on the legal reforms and implementation of recommendations mentioned in Mutual Evaluation Report (MER) of Nepal, 2023.

Following Nepal's 2022-23 Mutual Evaluation by the Asia/Pacific Group on Money Laundering (APG), the country was placed 'under observation' by the Financial Action Task Force (FATF).

It said that it was due to some AML/CFT deficiencies, and claimed that in response, the government has made significant reforms, including the amendment of 19 money laundering-related acts, new Money Laundering Prevention Rules (2024), and the National Strategy and Action Plans (2024/25-2028/29).

In February 2025, FATF decided to place Nepal on the 'Jurisdictions under Increased Monitoring' - commonly known as 'Grey List'.

FIU-Nepal is functioning as the primary contact point for communication between FATF- International Cooperation Review Group (ICRG) and APG for Mutual Evaluation and Post-Mutual Evaluation process.

FIU-Nepal continues to support national efforts to exit Nepal from the 'Grey list', read the report.  

It claimed that it is actively involved in domestic and international coordination to combat money laundering, terrorist financing and proliferation financing. 

Published in The Rising Nepal daily on 21 May 2025. 

FNJ launches probe into journalist's death, attack at media houses

Kathmandu, Mar. 29

The Federation of Nepali Journalists (FNJ) has taken a step in response to the tragic killing of journalist Suresh Rajak and the attack on media houses during violent demonstrations at Tinkune, Kathmandu, on March 28, 2025.

FNJ has formed a seven-member probe team under the coordination of its Vice Chair, Umid Bagchand, to investigate the incident. The team includes Ramesh Khatiwada, Prakash Dhaulakoti, Soni Sharma, Ashok Tiwari, Baikuntha Parajuli and Sabi Priyasan.

This decision was made during the central committee meeting of FNJ, attended by office bearers and central members in the federal capital.

Bagchand said the team will immediately visit the affected media houses, and speak with victims, witnesses, fellow journalists and the families of the deceased journalist. Their objective is to document how the violence unfolded and provide recommendations on how the FNJ should respond. The violent protest, led by pro-monarchy supporters, resulted in Rajak's death when the building he was reporting from was set ablaze.

The office of Kantipur Television and the Annapurna Post daily were attacked.

The FNJ and the wider media community have strongly condemned the killing, organising a protest at Maitighar Mandala on March 29, demanding a thorough investigation and strict legal action against the perpetrators. Journalists from various media organisations and associations reached the venue to protest against Rajak's death. Senior journalists, including former FNJ presidents, have called for justice and compensation for Rajak’s family.

Meanwhile, the FNJ has also canceled its 70th-anniversary celebrations in mourning and is preparing to submit a memorandum to the Minister of Communications and Information Technology, Prithvi Subba Gurung.

Nepalese journalists, backed by international media and human rights organisations, continue to protest against increasing restrictions on press freedom. They urge the government to ensure the protection of journalists and uphold press freedom as a pillar of democracy.

Similarly, journalists organised protest programmes in Hetaunda of Makwanpur, Malangwa of Sarlahi and Rajbiraj of Siraha districts.

Published in The Rising Nepal daily on 30 March 2025.    

FNCCI, FENIE condemn destruction of private and public property

Kathmandu, Mar. 29

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has expressed deep concern over the recent protests and demonstrations that have severely impacted the general public, business community, and private enterprises.

In a statement issued on Saturday, the business body strongly condemned the acts of violence, looting, and arson that have resulted in the destruction of both private and public property.

The protests that took place in Kathmandu on Friday, March 27 led to unfortunate incidents of human casualties and significant loss of property, which FNCCI describes as deeply saddening.

A journalist and a protestor were killed in the incidents while businesses and properties were vandalised and set to fire. The Federation has extended heartfelt condolences to the families of those who lost their lives and wished for a swift recovery to the injured.

Furthermore, the FNCCI has condemned the attacks on private properties, media houses, business establishments, offices, and other commercial activities. The incidents of arson, looting, and violent destruction have caused substantial damage, and the federation has demanded compensation for those affected.

"While FNCCI acknowledges the right to peaceful protest as guaranteed by the Constitution of Nepal, it strongly denounces the use of violence, destruction of property, and loss of lives during demonstrations," read the statemen. The federation has urged all concerned stakeholders to ensure public safety and prevent the recurrence of such incidents in the future.

FNCCI has called upon the government and relevant authorities to take immediate action in safeguarding law and order while protecting the rights of individuals to conduct their business activities without fear or disruption.

Likewise, in a separate statement, Federation of Nepalese Industries and Entrepreneurs (FENIE) strongly condemned the recent attacks on business establishments, financial institutions, and private properties, stating that such violent acts are aimed at destabilising Nepal’s economy and weakening the financial strength of industrialists and the general public. 

"For years, Nepali industrialists and entrepreneurs have faced repeated attacks, with financial institutions being targeted to create economic instability. We have asserted that these actions are part of a regressive agenda orchestrated by former royalists to cripple the economy and push the nation backward. The violent activities carried out in Tinkune Friday by self-proclaimed royalist groups have further exposed this underlying intent," read the statement.

Criminal activities, including the destruction of public and private property, are unacceptable and must be dealt with firmly, it said. 

The FENIE has called on all relevant stakeholders to ensure a safe, transparent, and fear-free business environment in Nepal. It has urged business communities and the general public to remain vigilant against such activities and work together to protect life and property.  

Published in The Rising Nepal daily on 30 March 2025.    

Nepali citizen repatriated by Thai authorities

Kathmandu, Jan. 17

A Nepali citizen, who was lured by the promise of attractive employment and forced into illegal activities in Laos' Golden Triangle, was repatriated to Nepal on Friday with the assistance of Thai authorities.

According to the Embassy of Nepal in Bangkok, Thailand, the Nepali national had escaped from Laos and entered Thailand. However, the Embassy did not publish the name of the repatriated individual.

The Embassy urged all Nepali people through a statement to follow the official guidelines, which require obtaining proper work permits before seeking foreign employment. It also advised against falling for temptations that promise quick and large sums of money through illegal activities in countries such as Cambodia, Laos, Myanmar and Thailand.

Earlier, in December 2024, the Embassy had repatriated five Nepali nationals to Nepal including one woman. They were rescued from Myawaddi in Myanmar and taken to Thailand before sending them to Nepal.

Earlier in March 2024, 13 Nepalis who were stranded in the Thailand-Myanmar border area were rescued and repatriated to Nepal.

The Ministry of Foreign Affairs of Nepal issued a travel advisory in December last year urging Nepalis preparing to go to Thailand, Myanmar, Cambodia and Laos to exhibit extra caution. A similar advisory was issued by the Embassy in Thailand two years ago. 

As per the MoFA, the human traffickers have been taking Nepalis to those countries with a promise of high-income jobs in private companies, casinos and digital marketing. But later they are forced to do illegal work.

Any foreign nationals visiting these countries with a 'tourist visa' are not allowed to work there, and they are not open for Nepali nationals for foreign employment.

 Published in The Rising Nepal daily on 18 January 2025. 

NRNA files complaint in police

Kathmandu, Nov. 1

The Non-Resident Nepali Association (NRNA) has said that it has filed a complaint against the Rajendra Kumar (RK) Sharma group, alleging obstruction of the regular operations at the NRNA secretariat and the harassment of Mahesh Basnet, a leader of CPN-UML. Basnet had visited the office to extend an invitation to the newly elected President of the Association's International Coordination Committee, Dr. Badri KC, and other office bearers.

In a statement released on Wednesday, the NRNA stated that RK Sharma and his team have rejected the results of the election held before Dashain and persistently disrupted the normal functioning of the Association, causing disturbances in the office and among the staff.

The statement reads, "They have engaged in highly inappropriate activities, such as mentally harassing employees by compelling them to work according to their own interests and sending letters to close the bank accounts used for the Association's routine operations. The secretariat staff is unable to physically attend the office and carry out their tasks."

The police and administration have been informed about this situation, and the police have increased their monitoring of the situation.

Similarly, the Sharma-led group, including Buddhi Sagar Subedi, Gangadhar Gautam, Thakur Prasad Dhungana, and others, also harassed UML leader Basnet on Tuesday when he visited the secretariat to invite the newly elected office bearers to a tea party organised by the CPN-UML, as stated by the NRNA in their statement.

"We are deeply saddened by the incident that occurred at the association's central office. In this regard, we have filed a complaint with the Nepal Police and have called for an investigation and action against the culprits," read the statement.

 Published in The Rising Nepal on 2 November 2023. 

Govt forms inquiry committee on Teku and Sakhuwasabha incidents

Kathmandu, Aug. 9

The government has formed a five-member investigation committee on the incident of the use of force by the police against the Tamang and Magar communities when they organised a sit in protest at the police station at Teku in Kathmandu last week demanding punishment to advocate Bhagwati Pandey for her statement.

Spokesperson of the Ministry of Home Affairs (MoHA), Narayan Prasad Bhattarai, issued a statement on Wednesday to inform about this development.

The investigation committee formed under the coordination of Under Secretary of MoHA, Ram Bahadur Shahi has been given 10 days to investigate the truth about the injured persons and submit a report on the matter.

Representatives from District Administration Office, Kathmandu, Valley Police Office and National Investigation Department are the members of the committee.

Meanwhile, Bhattarai informed in a separate statement that the government has formed another committee to investigate the truth and submit a report regarding the death of Akash Balami, AKA Binod Tolangi and Bikash Shrestha, prisoners of the Sankhuwasabha inside the prison on August 9.

It is said that the five-member investigation committee formed under the coordination of Kamal Prasad Pandey, Director of the Prison Management Department, has representatives from Nepal Police, National Investigation Department and District Administration Office, Sankhuwasabha.

 Published in The Rising Nepal daily on 10 August 2023.   

Government strikes 5-point agreement with agitating loan-sharking victims

 Work initiated to permanently solve  problem of loan shark victims: PM

Kathmandu, Apr. 1

The government has signed a 5-point agreement with the victims of the loan sharking. Negotiation teams of the both sides have come to an agreement to set up a commission to solve the problems of the victims of the loan sharking.

The commission to be formed as per the provisions of the Inquiry Commission Act - 2026 BS, will be formed by the next Cabinet meeting as announced by Prime Minister Pushpa Kamal Dahal Prachanda in the morning on Saturday during a meeting with the victims.

The government is preparing to have the Inspector General of Nepal Police and the Attorney General as members in the commission, which will be headed by a former judge or commissioner, and the structure of the commission will be in all districts.

The two sides have also agreed to form a district-level coordination and facilitation committee under the coordination of the Chief District Officer to address the regular complaints of the victims of loan sharking.

With this agreement the agitating victims have called off the programmes of protests.

Earlier, in the meeting with the victims, Prime Minister Pushpa Kamal Dahal ‘Prachanda’ had said that the government has initiated works to permanently solve the problem of the victims of loan sharks.

"The government is serious about ending loan sharking that is existing as a remnant of feudalism," PM Prachanda said to the loan shark victims in a meeting with them on Saturday morning at his residence in Baluwatar.

He said that the existing law is insufficient for a long-term solution to a problem like this, so the government is in a process of formulating a new law which is in its final stage.

In addition to this, he said that the process of forming a high-level commission with judicial powers to solve the problems of the victims has also progressed.

"A high-level commission will be formed by the decision of the Cabinet regarding loan sharking and addressing the problems of the victims. The commission will go in action immediately and can even use judicial powers. That process is already underway," informed the Prime Minister.

According to a statement issued by his secretariat, he has instructed the commission to act like a rapid action force, and to call people, issue warrants and take action. It should not act like the commissions formed before that just would assess the crisis, submit the report and would not take any action. The high-level commission is expected to assess and resolve the problems on the spot.

Stating that he was aware of the problems of the loan shark victims, Prime Minister Prachanda said that even when he was the party president, he took the initiative to punish the loan sharks.

"When I was the chairman of the Communist Party of Nepal, I listened to the problems of the victims of the loan sharking system in detail. I also called the three security agencies and the Home Minister and asked them to solve the problem immediately. Some people were apprehended," he said, adding “The action then scared the loan sharks.”

However, it was not a lasting solution. “Since I am in power now, I will find and implement a long-term solution to this problem.” 

He said that if this problem cannot be solved completely now, it will take a serious form. According to him, the process of making a law to prosecute the loan sharks has been started.

The Prime Minister also thanked the victims for marching up to the capital. "You came to Kathmandu by walking. Your problems were heard nationally. Everyone knew that even now, such exploitation exists in our society, not only nationally, but also internationally," he said. "I have been getting information about you ever since you left the district. I have also instructed the Home Ministry not to trouble you anywhere," he added.

Prime Minister Prachanda emphasised that he was not just giving assurances to solve the problem, and urged the visiting people to rest assured and return home.

During the meeting with the Prime Minister, the victims demanded the formation of a high-level commission, formation of a law and deliver justice to the victims whose houses were seized and arrest warrants were issued against them.

Meanwhile, PM Prachanda said that focus of the government was to complete the federal laws at the earliest.

"The constitution has clearly defined the scope of work of central, provincial and local governments. But federal laws have not been made accordingly," he said while addressing a programme on 'Sports infrastructure policy dialogue' organised by National Sports Council in the Capital on Saturday.

According to him, the government would proceed with the systematic implementation of the constitution by quickly enacting the laws including the Federal Civil Code.

Prime Minister Prachanda also said that Nepal could be developed as a 'sports hub' of the world.

Stating that the development of sports sector would be given a priority, he said that rewarding the players, raising the morale of the players by reaching the field, and participating in the areas related to the field of sports were some of the initiatives that he had taken.

Prime Minister Prachanda said, "A sports unit and playground should be built in every school and village so that players can be produced and developed from the grassroots."

Published in The Rising Nepal daily on 2 April 2023.