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‘नेपाललाई युरोपेली संघको हवाई सुरक्षा कालो सूचीबाट हटाउन पर्याप्त प्रगति भएको छैन’

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समाचार संक्षेप सम्पादकीय विश्लेषणसहित। नेपालको हवाई क्षेत्रको विश्वास पुनर्स्थापना गर्नु नेपाल र युरोपेली संघको साझा लक्ष्य रहेको बताउँदै, राजदूत वेरोनिक लरेन्जोले भनेकी छन्, “युरोपेली संघले कहिल्यै सेवा प्रदायक र नियामकको छुट्ट्याइको कानूनी रूपमा माग गरेको छैन।” उनले नेपाललाई हवाई सुरक्षा सूचीबाट हटाउनका लागि नियामक प्रणालीमा महत्वपूर्ण सुधार आवश्यक रहेकोमा जोड दिइन्। १२ जुन, काठमाडौँ – नेपालमा युरोपेली संघका राजदूत वेरोनिक लरेन्जोले नेपालको हवाई क्षेत्रको विश्वास पुनर्स्थापना गर्नु नेपाल र युरोपेली संघको साझा उद्देश्य भएको बताइन्। उनले नेपाललाई युरोपको हवाई सुरक्षा कालो सूचीबाट हटाउनका लागि हवाई सुरक्षा सुधारमा पर्याप्त प्रगति आवश्यक रहेको स्वीकार गरिन्। २६ मेमा नेपालमा भ्रमण गरिरहेका युरोपेली संघका सदस्य राष्ट्रका मिशनका प्रमुखहरूसँगको पत्रकार सम्मेलनमा बोल्दै, राजदूत लरेन्जोले नयाँ नेपाली सरकार हवाई सुरक्षा सूचीको विषयलाई गम्भीरतापूर्वक लिइरहेको उल्लेख गरिन्। उनले भनिन्, “नयाँ सरकारको आगमनसँगै, मैले हवाई सुरक्षा सूचीको बारेमा पहिलेभन्दा धेरै पटक सोधिएको छ।” २०१३ देखि, नेपाली एयरलाइन्सलाई युरोपेली हवाई क्षेत्रमा उडान गर्न प्रतिबन्ध लगाइएको छ। अधिकांश नेपाली विमान युरोपमा निर्मित भएको र नेपालले अन्तर्राष्ट्रिय हवाई यातायात मानकहरू लागू गरेको भए पनि प्रतिबन्ध किन जारी रहेको भन्ने प्रश्नमा, राजदूत लरेन्जोले समस्या विमानको उत्पत्ति भन्दा पनि समग्र सुरक्षा निगरानी प्रणालीमा रहेको स्पष्ट पारिन्। उनले भनिन्, “यहाँका अधिकांश विमान युरोपेली हुन् – एटीआर र एयरबस युरोपेली कम्पनीहरू हुन्।” यद्यपि युरोपमा निर्मित विमान र युरोपमा प्रशिक्षित पाइलटहरू हुनु भनेको नागरिक उड्डयन प्राधिकरण र एयरलाइन्सले सबै सुरक्षा मानकहरूलाई पालन गरिरहेको भन्ने कुरा होइन। उनले थप जानकारी दिँदै भनिन्, “युरोपेली संघले कहिल्यै नेपाललाई सेवा प्रदायक र नियामकलाई छुट्ट्याउन कानूनी रूपमा माग गरेको छैन।” लरेन्जोका अनुसार, २०२३ मा गरिएको मूल्यांकनले नेपालले हवाई सुरक्षा सूचीबाट हट्नका लागि आवश्यक प्रगति गर्न सकेको छैन भन्ने निष्कर्षमा पुगेको छ। यद्यपि नागरिक उड्डयन प्राधिकरणले त्यसपछि सुधारात्मक कार्य योजना तयार गरेको थियो, कार्यान्वयनमा अपेक्षित प्रगति भएको छैन। उनले भनिन्, “पछिल्ला दुई र आधा वर्षमा कार्य योजनामा धेरै कम प्रगति भएको छ, र अब यसमा अगाडि बढ्नका लागि काम आवश्यक छ।” उनले सुधारहरू पाइलट लाइसेन्सिङसँग मात्र नभई निरन्तर प्रशिक्षण, प्रमाणन प्रणाली र हवाई निगरानी प्रणालीसँग पनि जोडिएको बताइन्। उनले भनिन्, “२०१३ देखि, हामीले नेपाललाई यी सुधारहरू लागू गर्न र एयरलाइन्सले न्यूनतम सुरक्षा मानकहरू पूरा गर्न मद्दत गर्न प्राविधिक सहयोग प्रदान गर्दै आएका छौं।” राजदूत लरेन्जोले नयाँ नियुक्त भएका महानिर्देशकसँगको सहकार्य बढी प्रभावकारी हुने आशा व्यक्त गरिन्। उनले भनिन्, “नयाँ महानिर्देशकको नियुक्तिसँगै, हामी सुधारात्मक कार्य योजनामा प्रगति गर्नका लागि नजिकबाट काम गर्ने आशा गर्छौं।” उनले थपिन्, “एकपटक आवश्यक आधारभूत काम पूरा भएपछि, नेपाललाई हवाई सुरक्षा सूचीबाट हटाउने प्रक्रिया फेरि अघि बढ्न सक्छ।” उनले नेपालका हवाई यातायातमा जारी प्रतिबन्ध युरोपेली संघका लागि पनि अनिच्छित रहेको र नेपालको हवाई क्षेत्रको अन्तर्राष्ट्रिय विश्वास पुनर्स्थापना गर्न आवश्यक रहेकोमा जोड दिइन्। उनले भनिन्, “यो अवस्था हाम्रो लागि पनि अनुकूल छैन।” नेपालको हवाई क्षेत्रको विश्वास पुनर्स्थापना गर्नु हाम्रो साझा लक्ष्य हो। यो पर्यटन विकासका लागि अत्यन्त महत्त्वपूर्ण छ।

गेडागुडी र भटमास बढी खाँदा उच्च रक्तचापको जोखिम ३० प्रतिशत कम

Consuming Chickpeas and Lima Beans Can Reduce the Risk of High Blood Pressure by Up to 30%

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Regular consumption of foods derived from chickpeas and lima beans has been shown by new research to be highly effective in reducing the risk of high blood pressure. A comprehensive report published in the BMJ Nutrition Prevention & Health journal indicates a significant decrease in the likelihood of developing hypertension among those who consume these foods frequently. Scientists have drawn clear conclusions after analyzing multiple global studies.

The research found that individuals who eat a substantial amount of chickpeas experience a 16% reduction in the risk of high blood pressure. Similarly, those consuming larger quantities of lima beans and related dishes showed a 19% decrease in risk. The greatest benefits were observed with a consistent daily intake of these foods. Specifically, consuming about 170 grams of chickpeas daily was associated with nearly a 30% reduction in hypertension risk.

Likewise, consuming 60 to 80 grams of lima bean products per day resulted in a 28 to 29% lower risk. However, scientists noted that increasing lima bean intake beyond this amount did not yield additional benefits. For context, 100 grams of chickpeas or lima beans is equivalent to roughly one cooked cup or 5 to 6 tablespoons.

The study incorporated data from 12 long-term investigations conducted across countries in America, Europe, and Asia. Chickpeas and lima beans are rich in nutrients such as potassium, magnesium, and fiber, which play a vital role in regulating blood pressure. Despite these advantages, especially in Europe and the United Kingdom, the overall consumption of chickpeas remains low. Nutritionists suggest that this research strongly supports prioritizing chickpeas and lima beans as primary protein sources in daily diets.

Government Proposes Expanding Nepal Rastra Bank’s Board of Directors to Nine Members

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The government has proposed increasing the number of members on the Nepal Rastra Bank’s Board of Directors from seven to nine. A bill to amend the Nepal Rastra Bank Act 2058 has been prepared and registered in the House of Representatives of the Federal Parliament. According to the bill, the number of non-executive independent directors, currently three, would be raised to five.

May 25, Kathmandu – The government has put forward a proposal to expand the membership of the Central Bank’s Board of Directors. Under the proposed amendment to the Nepal Rastra Bank Act 2058, the Board, which presently consists of seven members, will be increased to nine members. The bill proposing this change has already been registered in the House of Representatives.

The bill specifies that, in accordance with Section 20 of the Act, the Nepal government will appoint five non-executive independent directors representing various sectors who meet the required qualifications. Previously, three well-known non-executive directors from the fields of economics, monetary policy, banking, finance, and commercial law were appointed. The governor will serve as the chairperson of the Central Bank’s Board, with the Finance Secretary and two Deputy Governors included as members.

Woman Missing for Four Days Found Dead in Reed Area of Bakraha River; Husband Under Suspicion

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May 25, Biratnagar – The body of 43-year-old Savita Kandangwa Limbu from Laxmijhar, Ward No. 1, Urlabari Municipality of Morang, was found decomposed along the bank of the Bakraha River. Following the discovery of Savita’s deceased body, the police have taken her husband, Dil Bahadur Limbu, into custody.

Savita left home at 9 a.m. on Saturday morning. It is reported that there was a minor dispute within the family before she left. She remained out of contact for four days, during which her family reportedly did not inform the police.

After the body was discovered on Tuesday morning, the police began investigating her husband, Dil Bahadur, on suspicion. During police questioning, Dil Bahadur claimed he had left following a routine argument and stated that he was searching for her himself. According to police, local residents grazing cattle found the body along the reeds of the Bakraha River this morning. The body was found face down, and identification based on clothing confirmed it was Savita.

DSP Santosh Shrestha, spokesperson for Morang Police, said the body was extensively decomposed and dried, and that the autopsy report would clarify the true circumstances of the incident. The body has been sent to Koshi Hospital in Biratnagar for post-mortem examination.

Savita’s family of origin has demanded an investigation into her husband Dil Bahadur and other family members.

‘विदेशका दूतावासहरूमा समेत बयान र बकपत्र गराउने सुविधा दिनू’

Supreme Court Directs Diplomatic Missions Abroad to Facilitate Statements and Depositions

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The Supreme Court has instructed Nepalis living abroad to be allowed to provide statements and depositions for ongoing cases through the Nepalese embassies or diplomatic missions in their respective countries. The Court emphasized that the use of information technology should not be restricted within the justice system but instead adapted in line with technological advancements and social needs. Following this order, delays in cases pending in Nepal due to defendants’ overseas locations are expected to end, and legal proceedings are anticipated to progress more effectively. Kathmandu, 12 Jestha.

The Supreme Court ruled that Nepalis residing abroad must be able to appear at Nepalese embassies or diplomatic missions to provide statements and depositions in cases being heard in Nepal. This decision came in response to an appeal against an order in a corruption case under adjudication in a special court. The Supreme Court’s directive prohibits barring Nepalis abroad from offering statements or depositions through embassies or diplomatic offices. This ruling facilitates participation for Nepalis overseas involved in Nepalese legal proceedings.

The path is now open for individuals accused in criminal cases who currently live abroad to be included in the legal process. Although for some years, statements from defendants and depositions from witnesses have been submitted to courts by means other than in-person appearances, and some foreign-based lawyers have even been allowed to participate in arguments in special and other courts, until now, overseas Nepalis were not permitted to provide statements or depositions to courts.

The Supreme Court interpreted the growing use of information technology as a development that should be embraced liberally. With rapid digital transformation underway, the Court concluded that instead of restricting technology’s use, it should be regulated appropriately. The joint bench of Justices Hari Phuyal and Bal Krishna Dhakal noted in the order, “As technological growth and utilization reduce geographical barriers, employing it to facilitate justice delivery will be a positive reform for Nepalese courts.”

Seventy Nepali Drivers Stranded in Saudi Arabia for Four Months Face Work and Salary Issues

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Seventy Nepali drivers who traveled to Saudi Arabia through Al Shahid Overseas from Kathmandu have been stranded for four months without work or pay. Some of these stranded drivers have been assigned labor tasks without safety equipment, while others face problems with food and accommodation. These victims, who paid millions of rupees seeking foreign employment, have filed cases in the Saudi labor court to seek justice.

More than fifty Nepali drivers stuck in Saudi Arabia have remained without work for nearly four months. They were sent through Al Shahid Overseas, located in Chandol, Kathmandu Metropolitan City–4. The overseas agency had advertised for 50 experienced Saudi-based drivers and 150 Nepali license holders. Among the 64 individuals who went to Saudi through Mehn Human Resource Company as heavy drivers, most Nepalis have not secured employment.

Having obtained labor permits in February, these drivers have yet to receive any job assignments. They are grouped and placed in various locations. Only a few with heavy driver licenses from Saudi Arabia and Gulf countries have been put to work, while those holding Nepali licenses or light vehicle Saudi licenses remain unemployed to date. According to the manpower advertisement, monthly salaries for Saudi license holders were set at 1,600 Riyals plus trip allowances.

The contract signed by Al Shahid Overseas, representing Mehn Human Resource Company, specified a monthly salary of 1,800 Saudi Riyals for heavy drivers, an eight-hour workday, six working days per week, one day off, a two-year contract term, and provision of food and accommodation by the company. When informed about their difficulties in Nepal, the manpower director, Mr. Raut, assured the workers that solutions were underway, according to the stranded laborers.

Two Women Killed by Tree Uprooted in Storm in Rolpa

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In Thawang, Rolpa district, a storm uprooted a tree that fatally struck 60-year-old Ruju Jhangri and 50-year-old Manbuji Jhangri. The two women were returning home after visiting a patient at Thawang Basic Hospital when the tree fell during the storm. Ruju died on the spot, while Manbuji succumbed to her injuries en route to Pokhara for medical treatment. The incident occurred on May 25.

Inspector Sunil Thapa Nepali, spokesperson for the Rolpa police, confirmed the deaths caused by the fallen tree in Thawang. The victims, Ruju Jhangri (60) and Manbuji Jhangri (50), were residents of Helowang, Thawang Rural Municipality-2. While Ruju passed away immediately at the scene, Manbuji died while being transported to Pokhara in Kaski for medical care.

Both women had visited a patient at Thawang Basic Hospital in the evening and were on their way home when the storm brought down the tree onto the road, trapping them underneath. Upon receiving the report, a police team led by Inspector Ramchandra Bagale from Thawang Area Police Office promptly arrived at the scene and carried out the rescue operations.

करोडभन्दा कमका योजना नबन्ने, चुनावसम्मै गठबन्धन – Online Khabar

Fifteen-Point Agreement Among Three Political Parties in Madhesh Province to Maintain Alliance Until Election

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Three coalition parties in Madhesh Province have reached a 15-point agreement to continue their alliance until the upcoming election. According to the agreement, starting from the next fiscal year, the cabinet will be reduced to nine members, and projects under one crore rupees will not be initiated. The government expansion process, which was on hold, has resumed following the signatures of Chief Minister Krishna Prasad Yadav, UML’s Saroj Kumar Yadav, and NCP’s Yuvraj Bhattarai. Dated 12 Jestha, Janakpur Dham.

The three ruling parties in Madhesh Province have finalized a 15-point pact. The government expansion had been stalled for three days due to dissatisfaction within the Nepal Communist Party (NCP). Against this backdrop, today the three parties—Nepali Congress, CPN-UML, and NCP—agreed to maintain the current government leadership until the election and not to approve projects costing less than one crore. Following this understanding, the process of government expansion is now moving forward.

The agreement emphasizes quick action based on mutual coordination and understanding among the coalition parties. It also commits to working in a manner that allows the general public to directly experience good governance. The parties decided that the development budget for fiscal year 2083/084 will allocate no less than one crore rupees per project.

Furthermore, from the upcoming fiscal year, the cabinet will be streamlined from its current size to nine members, including the Chief Minister. The agreement stipulates that the Chief Minister’s position will be shared, with the CPN-UML and Nepali Congress each receiving three ministries, and the Nepal Communist Party two ministries. Development projects will be implemented through an open and competitive process, with construction activities advancing at the start of the fiscal year.

Seven Milestone Budgets in Nepal’s History

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Summary: Swarna Shamsher presented Nepal’s first-ever budget on 21 Magh 2008 BS (1962). Then Finance Minister Bharat Mohan Adhikari, through the fiscal year 2051/52 budget, introduced social security allowances and the ‘Build Your Own Village’ program. State Minister for Finance Mahesh Acharya implemented economic liberalization and open market policies during the fiscal year 2048/49 budget. Kathmandu, 12 Jestha — Before Finance Minister Dr. Swarnim Wagle addressed questions related to the policy and program for the upcoming fiscal year 2083/84 or discussed concerns on the principles and priorities of the appropriation bill, he often recalled the budget presented by Swarna Shamsher on 21 Magh 2008 BS, recognized as Nepal’s very first budget.

When opposition members criticized the budget with traditional connotations, Minister Wagle responded, “The terms regarding the budget remain the same as those included in Swarna Shamsher’s budget in 2008 BS.” He did not consider criticism arising solely from terminology logical, emphasizing that policy improvement requires more than just words.

Since the 2008 BS budget, Nepal has witnessed few historic budgets marking significant economic shifts. Ahead of today’s new budget presentation, this article reviews seven landmark budgets from the past 75 years that have shaped Nepal’s economic history. While political climates have provided opportunities to finance ministers like Wagle to introduce vital budgets, how they leverage these opportunities remains to be seen.

2008 BS: Nepal’s First Official Budget
Presented by Swarna Shamsher on 21 Magh 2008 BS, this budget was Nepal’s first official fiscal plan. Under Rana rule, governance was limited, and financial matters remained obscure. After democracy was established in 2007 BS, Swarna Shamsher noted in the budget that due to democratic and accountable governance, the nation and the world could now access information on national revenue and expenditures. Being the first democratic finance minister, he expressed pride in presenting this historic budget.

The budget estimated revenue at NPR 2.9 crore and expenditures at NPR 2.46 crore in 2007 BS. The total size was NPR 5.25 crore, with expected revenue of NPR 3.05 crore. This budget represents a pioneering step in granting economic autonomy to the people previously exploited under the Rana regime and remains engraved in Nepal’s history in golden letters.

2016/17 BS: The First Budget by an Elected Government — Initial Tax Identification
The first budget introduced by an elected government came in 2016/17 BS. Then Deputy Prime Minister and Finance Minister Swarna Shamsher presented the budget to parliament on 25 Shrawan 2016 BS. The budget highlighted that despite democracy, political instability over the prior 7–8 years had not significantly improved living standards. During this period, Nepal’s five-year plans had also commenced. This budget marked the government’s first imposition of income tax, targeting business profits and wages. The BP Koirala-led administration also imposed land revenue taxes. The budget size stood at NPR 24.89 crore, prioritizing agriculture, drinking water, rural development, and commerce.

2041/42 BS: Liberal Financial Policies — Opening the Door to Private Banks
On 26 Asar 2041 BS, Finance Minister Dr. Prakash Chandra Lohani unveiled a historic budget embracing liberal financial policies for 2041/42 BS. This budget announced private sector-friendly initiatives. Confronting inflation, declining foreign exchange reserves, and economic challenges, Dr. Lohani advocated policies encouraging financial sector competition through new bank establishments. The budget included amendments to the Commercial Bank Act, facilitation of finance company formation, and mandatory investment in agriculture. The budget size was NPR 680 crore.

2048/49 BS: Economic Liberalization and Open Market Economy Policies
Presented on 27 Asar 2048 BS by State Minister for Finance Mahesh Acharya under the leadership of Girija Prasad Koirala, this budget was a significant document for economic liberalization. It promoted increased private sector involvement and encouraged private development in sectors such as trade, electricity, banking, aviation services, and media. The budget initiated reductions in public sector investments through privatization and management reforms. Permissions were granted for private finance companies and commercial banks, and foreign exchange provisions were eased. The budget totaled NPR 2.664 billion.

2051/52 BS: Social Security and the ‘Build Your Own Village’ Initiative
The fiscal year 2051/52 budget was presented twice: initially on 31 Asar by Mahesh Acharya and later resubmitted by the minority UML-led government on 11 Poush by Bharat Mohan Adhikari as a supplementary budget. This budget sloganed making villages centers of development and adopted a policy of directly allocating budgets to Village Development Committees. As a pilot for social security, relief programs for senior citizens began in five districts and were expanded the following year to provide monthly allowances for citizens over 75 in 75 districts. This budget also initiated legal reforms to optimize public resource use and improve project implementation. The budget size was NPR 4.269 billion.

2065/66 BS: Ambitious Budget and ‘Leap in Economic Growth’
After the 2062/63 BS (2005/06 AD) popular movements, Dr. Baburam Bhattarai, from the first elected government following the movement, presented the ambitious budget for 2065/66 BS. He stated that “some risks must be taken to leap from one era to another.” This budget set a target for producing 10,000 megawatts of electricity for the first time. It called for establishing an investment board and declared that former royal assets would be utilized for public benefit. Social security allowances were categorized, and policies for various communities were introduced. Emphasizing infrastructure development and equalizing employee salaries, the budget size was NPR 23.6 billion, significantly larger than previous ones.

2072/73 BS: Ram Sharan Mahat’s ‘World’s Best Finance Minister’ Budget
Amid post-2015 earthquake recovery, Finance Minister Dr. Ram Sharan Mahat introduced the 2072/73 fiscal budget. Procuring aggressive international commitments totaling $400 million through conferences, he steered rapid reconstruction efforts. The budget symbolized not only recovery but also the expansion of financial inclusion and promotion of investment. A National Reconstruction Fund was established, with NPR 7.4 billion allocated. Financial assistance for private housing construction was introduced, along with announcements for investment conferences. The budget amounted to NPR 8.19 billion.

Two Bills Introduced by Prime Minister Passed in House of Representatives

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12 Jestha, Kathmandu – Two bills introduced by Prime Minister Balendra Shah (Balen) have been passed by the House of Representatives. The meeting of the House held on Tuesday approved the ‘House of Representatives Member Election (First Amendment) Bill 2083’ and the ‘Voter List (First Amendment) Bill 2083’. Both bills were registered in the House of Representatives by Prime Minister Balen on 25th Baisakh.

The bills were passed during the House meeting held on Monday. These bills will now be submitted to the National Assembly. Once approved by the National Assembly, they will return to the House of Representatives. After the House approves any amendments made by the National Assembly, the bills will be certified by the Speaker and sent to the President’s office. Upon presidential certification, these bills will be enacted into law.

गुजरातमाथि एकपक्षीय जित निकाल्दै बेंगलुरु फाइनलमा

Royal Challengers Bangalore Advance to IPL 2026 Final with Dominant Win Over Gujarat

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Defending champions Royal Challengers Bangalore have secured a place in the IPL 2026 final. In the first qualifier match held on Tuesday, Bangalore clinched a commanding 92-run victory over the Gujarat Titans. Chasing a massive target of 255 runs set by Bangalore, Gujarat was bowled out for 162 runs in 19.3 overs. Rahul Tewatia’s half-century was the lone consolation for Gujarat; he scored 68 runs off 43 balls. Additionally, Jos Buttler contributed 29 runs while Sai Sudharsan added 14 runs.

For Bangalore, Jacob Duffy took 3 wickets, while Bhuvneshwar Kumar, Rasikh Salam, and Krunal Pandya claimed 2 wickets each. Josh Hazlewood took 1 wicket. After winning the toss and opting to bat first, Bangalore posted a strong total of 254 runs for 5 wickets in their 20 overs. Captain Rajat Patidar played a magnificent unbeaten innings of 93 runs off 33 balls, striking 9 sixes and 5 fours. After losing the first wicket at 20 runs, Patidar added 73 more to stabilize the innings, putting Royal Challengers in a commanding position. Virat Kohli and Krunal Pandya both scored 43 runs apiece. Venky Iyer contributed 19 runs, while Jitesh Sharma remained not out on 15 runs.

For Gujarat, Kagiso Rabada and Jason Holder took 2 wickets each, and Prasidh Krishna claimed 1 wicket. With this win, Bangalore has directly qualified for the final, while the defeated Gujarat Titans still have one more opportunity to reach the final. On Wednesday, the Eliminator match will be played between Sunrisers Hyderabad and Rajasthan Royals. The winner of the Eliminator will face Gujarat for a place in the final.

Government Prepares to Implement Dual-Rate VAT; Experts Warn It’s a Step Backward

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News Summary

  • The government is preparing to shift the value-added tax (VAT), which has been at a single rate for three decades, to a dual-rate system.
  • According to Finance Minister Dr. Swarnim Waglé’s directives, the upper VAT rate will remain at 13 percent, with a new lower rate of 4 or 5 percent to be added.
  • Tax experts criticize the dual-rate VAT system, warning it will increase administration costs and revenue leakages.

May 25, Kathmandu – After three decades of a single-rate value-added tax (VAT), the government has initiated comprehensive reforms to introduce a dual-rate VAT system. According to senior sources at the Ministry of Finance, plans are underway to transition the current single-rate VAT to a dual-rate structure.

Following the direction of Finance Minister Dr. Swarnim Waglé, the ministry and the Inland Revenue Department are working on these preparations. VAT was first introduced in Nepal on December 16, 1997 (Mangsir 1, 2054 BS), replacing taxes such as sales tax, hotel tax, entertainment tax, and contract tax.

Initially set at 10 percent, the rate was increased by 3 percent to 13 percent in January 2005 (Magh 2061 BS) due to revenue shortfalls during the Maoist conflict.

Throughout its implementation, VAT was applied at a single rate until now. The Ministry has confirmed that the VAT system will be modified to a dual-rate format. A task force established under Minister Waglé is currently studying the potential impacts and challenges of applying dual rates.

The task force has recommended retaining the upper rate at 13 percent and adding a lower rate of 4 or 5 percent.

Preparations are also underway to bring many items currently exempt from VAT into the lower 4 or 5 percent bracket. When consulted, the Inland Revenue Department indicated it is capable of implementing the dual-rate VAT, prompting the minister to instruct initiation of implementation preparations.

A Ministry source noted, “For three decades, Nepal’s VAT system maintained a single rate, which was favorable. Initially, exemptions were limited to essentials like food grains and vegetables, but over time the exemption list expanded, causing distortions in the VAT system. Now, we aim to reduce the exemption list and impose a lower rate (4–5%) on those items.”

Additionally, preparations are underway to tax goods and sectors that should be VAT-liable but have remained outside the system so far.

With the dual-rate system, the government also plans to organize the refund process for taxpayers. “After filing returns and paying VAT, taxpayers will receive refunds promptly credited to their accounts,” as instructed by the finance minister, the source said.

Previously, unadjusted balances in purchase and sales tax offsets were carried forward to future tax adjustments, which caused issues that this new approach aims to address.

Experts estimate that applying 4 or 5 percent VAT to previously exempt goods will not significantly increase prices. A tax administrator commented, “Costs have been rising due to inability to claim VAT on exempt goods, but with inclusion in the VAT net, input tax credits will be claimable, keeping costs stable.”

Although discussions on the dual-rate VAT are ongoing within the Ministry of Finance, no final decision has been made. Finance Minister Waglé is keen to consult with Rastriya Swatantra Party Nepal chairperson Ravi Lamichhane and Prime Minister Balen Shah before making a decision.

However, tax experts and former tax administrators warn that a dual or multi-rate VAT system will increase costs for both the government and taxpayers and may lead to greater tax evasion. Economist Dr. Rup Khadka points out that most countries in the world apply VAT at a single rate, and Nepal should not reverse course by moving back to a dual-rate system.

Dr. Khadka stated, “India also tried multi-rate GST but has been shifting towards a single rate. Model countries like New Zealand maintain a single VAT rate. We should continue with a single rate system.”

Former Inland Revenue Department Director General Dirgharaj Mainali noted that dual rates would increase administrative burden and scrutiny costs. “The current VAT exemption list is very long and reducing it is good, but having two rates may increase compliance costs and leakage,” he said.

Another former director general warned that dual rates might increase distortions and that lobbying could lead to expanding VAT exemptions, urging the reforms to be advanced carefully.

The private sector has long advocated for a multi-rate VAT, suggesting lower rates on some goods below the current 13 percent.

However, former directors caution that competition among rates might prompt reduction of the higher rate, fostering distortions.

They also argue that dual rates should not be implemented through the budget without adequate preparations, including system, classification, credit mechanisms, and accounting processes.

VAT to be applied on private education, health services, and costly vegetables

The government is planning to levy VAT on private sector education and health services, expensive vegetables, fruits, and processed food products. Discussions about applying a lower VAT rate in these sectors are ongoing.

“If dual rates are introduced, these goods and services may attract the lower VAT rate, but if a single rate remains, they might be subject to the full 13 percent VAT,” a source said.

According to the Ministry of Finance, there is a strong intention to reduce the VAT exemption list, which means most currently exempt goods and services will come under VAT.

However, exemptions will continue for staples such as food grains, lentils, rice, vegetables, fish, fresh meat, financial and insurance services, milk, fertilizer, salt, public transport, and government services.

Threshold for VAT registration to be increased to those with transactions over 5 million

Currently, businesses with transactions exceeding 5 million NPR must register for VAT. Those in service or goods-services sectors with monthly transactions over 3 million NPR must also register. The government plans to raise this VAT registration threshold.

“The new threshold has not been finalized but is expected to increase,” sources said.

The threshold might be raised to between 7.5 million and 10 million NPR.

Currently VAT-exempt goods and services

1. Basic agricultural products

Food grains: Unprocessed cereals such as rice, maize, wheat, millet, buckwheat, barley, local and indigenous crops of Karnali, and their flour.

Legumes: Unprocessed and mildly processed lentils, chickpeas, kidney beans, black gram, mung beans, and soybean.

Vegetables and fruits: Fresh leafy greens, potatoes, onions, garlic, tomatoes, and fresh fruits (excluding those sold pre-packaged with brand registration).

2. Livestock and their products

Live animals: Cattle, buffalo, goats, pigs, chickens, ducks, quail, and silkworms.

Meat and fish: Fresh, chilled, or frozen meat and fish.

Dairy products: Unprocessed fresh milk (excluding pasteurized and branded dairy products).

3. Agricultural inputs and tools

Goods and seeds: Chemical fertilizers, organic fertilizers, compost, and certified seeds authorized for farming.

Agricultural tools: Tractors (up to specified horsepower), threshers, hand tractors, hoes, spades, sickles, and ploughs – traditional and modern equipment.

Pesticides: Organic and chemical pesticides used for crop protection.

4. Essential goods

Edible salt: Iodized or common salt.

Drinking water: Water supplied via pipelines or taps for public consumption (excluding bottled mineral water).

Fuel: Firewood and briquettes for domestic use.

5. Medical treatment and health services

Human healthcare: Health checkups, surgeries, and treatment services provided by hospitals, clinics, or health centers.

Medicines and vaccines: Medicines, Ayurvedic medicines, vaccines, and contraceptives listed in the government’s national essential medicine list.

Disability aids: Wheelchairs, prosthetics, crutches, white canes, and Braille materials for persons with disabilities.

6. Education, books, and printed materials

Educational services: Regular instruction, examinations, and educational services offered by schools, colleges, and universities.

Books: Printed books on education, literature, science, and any subject; textbooks and storybooks.

Newspapers and magazines: Daily, weekly, or periodic publications.

7. Transportation and freight services

Public passenger transport: Fares for buses, minibuses, microbuses, tempos, and taxis (excluding cable cars).

Freight: Transportation of agricultural and essential goods.

8. Financial, insurance, and government services

Banking services: Loan interest, deposit collection, and financial transactions authorized by the central bank.

Insurance: Life and health insurance premiums.

Government postal services: Postal services, tickets, and money orders provided by the Government of Nepal.

9. Real estate and electricity services

Real estate transactions: Purchase, sale, and residential rental of houses and land (excluding commercial buildings).

Electricity services: Household and industrial electricity supplied by Nepal Electricity Authority or authorized bodies.

10. Cultural and public services

Entry fees: Admission charges for public libraries, museums, zoos, national parks, and botanical gardens.

Arts and culture: Indigenous handicrafts, sculptures, paintings, and nonprofit cultural programs.

Nepal Rastra Bank (Third Amendment) Bill Introduced in Parliament

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Finance Minister Dr. Swarnim Wagle has registered the Nepal Rastra Bank (Third Amendment) Bill 2083 in the House of Representatives. The bill aims to strengthen the stability of the financial sector and clarify regulations related to digital currencies. It highlights the need for legal reforms to make Nepal Rastra Bank more autonomous, accountable, and transparent.

May 26, Kathmandu – The Nepal Rastra Bank (Third Amendment) Bill 2083 has been tabled in parliament. Finance Minister Dr. Swarnim Wagle formally submitted the bill in the House of Representatives. The bill is brought forward with the objective of supporting Nepal’s sustainable economic development by maintaining price and exchange stability and reinforcing the overall stability of the financial sector.

According to Finance Minister Dr. Wagle, the bill is designed to address changes in national and international economic and financial spheres, the expansion of the financial system, increased use of digital technology, and evolving roles of the central bank. It seeks to make certain provisions of the current act clearer, more organized, and timely. Key areas covered by the bill include clarifying the bank’s objectives, provisions regarding the appointment and removal of the Governor and directors, mechanisms to maintain financial stability, regulations related to digital currencies, and strengthening regulatory authority. The bill emphasizes the necessity of legal reforms to operate Nepal Rastra Bank with greater autonomy, accountability, transparency, and effectiveness, as stated by Finance Minister Wagle in the bill’s objectives and rationale.

चढ्छन् १ करोडको गाडी, साढे ३ तले पक्की घर – Online Khabar

Money Laundering Case Filed Against Theft Suspect Prem Tharu Involving Assets Worth NPR 62.2 Million

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According to reports, a money laundering case involving approximately NPR 62,216,000 has been registered against Prem Tharu, who is accused of amassing significant wealth through theft. Police arrested Tharu after firing shots and recovered 65 tolas of gold, foreign currency from 16 countries, and a Toyota Hilux vehicle from his possession. Tharu is known to have been professionally involved in theft for the past 7–8 years and resumed criminal activity soon after being released on parole. (May 25, Kathmandu)

Individuals who adopt theft as their profession are observed repeatedly committing crimes to sustain their livelihood. However, the story of this particular thief, who was arrested in a police shootout, is unusual. With money acquired from theft, he has constructed a concrete house and drives a Toyota Hilux valued at over NPR 10 million. The authorities were astonished by the scale of his assets. Tharu is skilled in theft and operates under various aliases.

A money laundering case has been filed against Tharu at the Kathmandu District Court. Investigations revealed that Tharu purchased the Toyota Hilux vehicle for NPR 9.8 million using stolen funds. Despite this, he claims to have sold the vehicle. Tharu has also admitted to accumulating property and land through proceeds of theft. He stated, “I sold stolen gold and silver jewelry, bought 2 kattha of land for NPR 4 million, and built a three-and-a-half-story concrete house.”

During a house search of Tharu, currency notes from 16 countries were discovered. The police found US dollars, Qatari riyals, Korean won, Iraqi dinars, Saudi riyals, Chinese yuan, Australian dollars, Singapore dollars, Bangladeshi taka, Sri Lankan rupees, Bahraini dinars, Bhutanese ngultrum, Argentine pesos, Turkish lira, Indian rupees, and Nepalese rupees. Prem Tharu has pursued theft professionally over the last 7–8 years and continues to be known by different aliases.

Capital Gains Tax to Be Declared Final Tax, Investors Demand in Upcoming Budget

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News Summary

  • Investors are urging the government to declare capital gains tax on share trading as the final tax in the upcoming budget.
  • Stakeholders emphasize restructuring the Nepal Stock Exchange to bring in foreign strategic partners.
  • There are recommendations to facilitate investment by non-resident Nepalis and to mandate listing of large companies on the stock market.

May 25, Kathmandu – Expectations surrounding the capital market are hopeful that they will be addressed in the budget, but a tradition of ineffective implementation has persisted for years. As the budget release date of June 1 approaches, anticipation from the stock market has risen once again.

The share market typically shows a positive reaction a few days before the budget announcement; however, the market’s demands are often unmet or remain unimplemented, causing any growth to be short-lived.

This time, investors are suggesting that a long-overlooked issue be included in the budget—the current capital gains tax on share trading should be declared as the final tax. Tulsi Ram Dhakal, Chair of the Nepal Investors Forum, stated, “Every year, the budget creates tension among investors regarding capital gains tax. The existing capital gains tax should be officially declared as the final tax in the budget.”

Stakeholders attest that even the announcement of this issue in the budget would elicit an almost immediate positive market response. Former President of the Stock Broker Association of Nepal, Bharat Ranabhat, remarked, “If the budget clearly addresses capital gains tax as the final tax, it will eliminate uncertainty around taxation and the market will promptly respond.”

Currently, while capital gains tax on share transactions is effectively treated as a final tax, there has been no official policy declaration. Consequently, this issue has sporadically become contentious.

Previously, a provision in Article 29 of the Fiscal Year 2023/24 Economic Bill created significant upheaval in the capital market when Prakash Sharan Mahat was Finance Minister.

The provision aimed to tax share transactions under income tax laws, an attempt to increase transparency, but widespread opposition caused trading to halt.

On June 4, 2023 (June 21, 2080 BS), a written agreement was made between investors and the Ministry of Finance to treat capital gains tax on share trading as the final tax; however, policy responsibility was never fulfilled.

In September 2023, a high-level tax reform advisory committee recommended taxing share income under the Income Tax Act as of July 17, 2024, implying that annual profits from share trading would be taxed at income tax rates, up to 39 percent.

This provision reignited fear in the capital market, prompting investors to demand a definitive policy resolution.

Investors currently pay 7.5 percent capital gains tax on holdings held for less than one year and 5 percent for those held over a year.

“By restructuring NEPSE and bringing in foreign strategic partners, international-grade technology will be introduced, trading tools enhanced, transparency improved, and regulation enabled through technology,” stakeholders said.

Investors pay capital gains tax on all profitable transactions, but this tax is not adjusted against losses. Officially declaring capital gains tax as the final tax in the budget would provide a strong market incentive.

The Rastriya Saja Party has pledged zero tolerance for market policy irregularities in its manifesto and supports the investors’ demand for declaring capital gains tax as the final tax.

There is no need to include new issues in the budget, but past budget commitments must be implemented, emphasized Dhakal. He said, “Issues such as restructuring the securities market, facilitating investment by non-resident Nepalis, and mobilizing various funds into the market should be put into action.”

Out of four key issues included in previous budgets, none have been implemented to date. However, the current government has five years to implement them. Ranabhat stated, “The government has five years, so it can implement issues that were announced but not enforced previously.”

The Rastriya Saja Party’s manifesto addresses the capital market, and with an economy minister knowledgeable about capital markets leading the party’s government, the budget is expected to be implementation-focused.

The first longstanding unimplemented issue in the budget is: Restructuring the Securities Market. The proposal includes reducing government ownership in NEPSE and increasing shares held by foreign strategic partners, institutions, and the general public. The Rastriya Saja Party also includes this in its manifesto. Dhakal emphasized, “The government must not only include this in the budget but also ensure its implementation.”

This suggestion was also made by the previous economic reform advisory committee. Currently, the government holds 58.66 percent ownership in NEPSE, which hampers many operations. According to a former NEPSE CEO, new technologies and trading tools have not been implemented for so long. If government shares are reduced and distributed to foreign strategic partners and other institutions, the capital market could reach new heights.

“With foreign strategic partners, international technology will enter, trading tools will increase, transparency will improve, and regulation will be technology-driven,” he explained.

For example, the Dhaka Stock Exchange in Bangladesh has Chinese Shenzhen and Shanghai Stock Exchange investment involvement. Shenzhen Stock Exchange’s Deputy Director, Wang Hai, also serves as a director in Dhaka, bringing Shanghai Stock Exchange technology to Dhaka. Such a model could be appropriate for Nepal as well.

Government ownership hinders capital market progress. Attempts to add technical tools face resistance from employees and related parties who prefer maintaining the status quo without work, based on their experiences.

The second persistent unimplemented budget issue is: Facilitating Investment by Non-Resident Nepalis (NRNs). A major challenge lies in NRNs’ ability to repatriate investment and dividends from the secondary market. The government has not yet implemented policies to address this.

Previous high-level economic reform commissions recommended allowing NRN investors to trade on the Nepalese stock market, but unclear policies on dividend repatriation reduce the incentive for NRNs to invest.

“NRNs can repatriate only 50 percent of their investment amount twice a year, but there is no clear provision on dividend repatriation. Since dividends are the primary motivation, permitting NRNs to trade without clear policies is meaningless,” explained stakeholders.

The third issue, frequently included but not enforced in budgets, is: Mandatory Stock Market Listing for Large Capital Companies. While exact capital thresholds are undefined, this remains mostly a budgetary mention. Some companies register publicly but show little interest in issuing shares.

Unless public companies are mandated to offer shares to the general public, top-performing companies will avoid the market, allowing weak companies to enter and cause losses to investors.

The government must set a capital threshold beyond which companies must issue shares and list them on the stock market. Currently, over 2,000 companies are registered publicly at the Company Registrar’s Office, but only around 300 are listed on the stock exchange.

The fourth issue consistently included but not implemented annually is: Diversification of Securities Instruments. Currently, the stock market trades shares, limited bonds, and mutual fund units. Instruments such as government bonds, derivatives (futures, options), and exchange-traded funds (ETFs) are not yet available.

Before introducing these, the market must be equipped with suitable technology and resources.

The Rastriya Saja Party also covers this in its manifesto, stating, “With clear legal framework and strict regulation, intraday trading, short selling, and derivative financial instruments will be introduced in stages.”

Another related topic is: the operation of commodity markets, which, though distinct from stock markets, would be regulated by the Securities Board and could influence the capital market as an alternative investment avenue. However, political interference allegations regarding licensing have been raised. The government faces the challenge of advancing this fairly.