Author: space4knews

March 21, Kathmandu – The Nepal Securities Board is planning to regulate tendencies among companies to present weak financial conditions in a stronger light during the initial public offering (IPO) process.

The Board has advanced plans to develop a new mechanism to verify the authenticity of the financial statements submitted by companies seeking to issue IPOs.

Criticism has been growing against the Board for allowing companies with weak financial conditions to proceed with IPO issuance.

There have been complaints filed with the Commission for the Investigation of Abuse of Authority (CIAA) against senior officials of the Securities Board for permitting IPOs for financially weak companies.

Following this, the Commission conducted inquiries with some Board officials based on these complaints. Previously, the Parliamentary Public Accounts Committee also raised concerns and directed the CIAA to investigate further.

In response to the criticism surrounding the IPO issuance process, the Board has initiated reforms in this area, an official from the Securities Board stated. Recently, companies with poor financial conditions seeking approval by manipulating their financial statements have increased, highlighting the need to verify the authenticity of information, the official added.

“Even organizations without regulatory bodies have applied to the Board for IPOs,” the official said. “We find it necessary to be confident about the actual condition of companies, which will help protect investors. To that end, we have deemed screening of companies necessary.”

The official noted that granting direct IPO approvals to companies without regulatory oversight has complicated coordination in addressing share-related issues.

“The Board is seeking to hold merchant bankers more accountable regarding the financial statements and documents prepared for the IPO process,” the official said. “We have started developing standards to review financial statements submitted for public issuance.”

Beyond just granting merchant bankers the business rights, the Board intends to make them responsible for investigating the companies’ conditions and future prospects, the official added.

In recent years, capital-raising through public issuance has notably increased in Nepal’s capital market. Banks, financial institutions, insurance companies, and hydropower companies are active in primary and secondary markets.

There is also a significant number of companies from other sectors that have registered securities and approached the Board to issue shares via IPOs.

The Board has pointed out that when companies without direct regulatory bodies request IPO approval, risks arise related to their business continuity, corporate governance, financial transparency, and compliance with laws and regulations.

As the securities law lacks clear provisions for withdrawing or rejecting IPO applications, the Board has begun developing transparency and investor protection standards on this matter, the official said.

The Board concluded that since issues not covered in audits must be considered before granting IPO permissions, there is a need to establish standards addressing these points.

If any discrepancies are found in audit reports, the financial impact caused by these must also be addressed, the official stated. Standards should be introduced to regulate and control the financial statements of institutions under the Board to avoid complaints from constitutional bodies, regulators, or the public.

Standards are also necessary to analyze project operational capacity and associated risks mentioned in audited financial statements.

Officials assert that the Securities Board must establish a specific mechanism to analyze the financial status of companies without direct regulatory oversight.

March 14, Salyan. The Bheri River, flowing through the picturesque landscapes of western Nepal, is a remarkable gift of nature. Its winding blue waters, sandy banks, and the lush green fields surrounding it are deeply intertwined with local life. Together, they portray a beautiful picture of rural livelihood and natural beauty.

A road along the riverbank connects remote mountain settlements, signaling development, while the fertile land reflects the daily lives of local farmers. The fields irrigated by the waters of the Bheri thrive with seasonal crops, turning green and abundant.

This combination of hills, river, and arable land forms the foundation of both natural splendor and livelihoods in the Bheri valley. Amidst the changing rural lives, the Bheri River continues to flow steadily in its own rhythm.

Originating in the Himalayan region of Karnali Province, the river traverses multiple districts before merging into the Karnali River.

On its journey, it touches diverse terrains in Dolpa, Jajarkot, Rukum West, Salyan, and Surkhet districts. The bond between the Bheri River and the settlements, farmlands, and natural surroundings in these areas is profoundly close.

The river’s water irrigates thousands of hectares of land, and it holds considerable potential for hydropower generation. Projects such as the Bheri Babai Diversion scheme aim to harness the river’s water for agriculture and energy production.

Naturally, the Bheri River is also known for its aesthetic appeal. The green mountain forests, flowing river, and nearby villages create stunning scenery. It offers promising opportunities for adventure tourism activities such as rafting.

Photographs captured along the border area of Banagad, Kupinde Municipality of Salyan and Gurbhakot Municipality of Surkhet:

Nuwakot-1 is considered a tough constituency. You defeated established parties’ candidates to win as a National Independent Party candidate. How was your election experience?

The election experience was highly enthusiastic. I found it very enjoyable. We were fighting not just for an ordinary election but to end abnormal circumstances. Our aim was to promote a positive political culture and conduct a well-organized campaign. Not a single day during the campaign did we return home disappointed. The alignment of public desire with our plan made the experience remarkable.

The National Independent Party’s historic win of 182 seats is a significant event. Did you anticipate this level of public trust initially?

Honestly, electoral assessments varied over time. Situations during the party formation, campaign initiation, and final voting day all differed. Institutionally, there was an estimate, but personally, I was excited from the start.

The area is considered ‘tough’ because Dr. Ram Sharan Mahat had fought elections here for years and this time his brother was contesting. Did you feel pressured competing against such contenders?

From outside, it might have seemed tough, but during door-to-door visits, I didn’t feel any pressure. The public was disillusioned with old leaders and political styles and were seeking new alternatives. That sentiment formed the basis of my victory. I had often stated in TV interviews that all candidates were equal, and the voters’ discretion would decide. The election result affirmed this.

Though connected to Kathmandu, Nuwakot-1 has many remote rural municipalities. Areas where social media influence is minimal and access is difficult in winter. This posed a real challenge. Yet, upon reaching villages, we were astonished by the enthusiasm among residents. The excitement was greater in these remote settlements than in accessible plains.

Wherever we went, people from elders to youth wore the ‘bell’ symbol. Some activists from other parties also said they belonged to their parties but would vote for the ‘bell.’ We had not expected 182 seats but were pleasantly surprised.

How do you interpret this historic public mandate for the National Independent Party? Is it only dissatisfaction with old parties or also hope for a new alternative?

I think both elements are present. Election outcomes rarely hinge on a single cause. Certainly, the public voted for the National Independent Party and the ‘bell’ symbol with high hopes—not just out of frustration but a search for new options and prosperity. There is a growing hunger for change, and we must respond to that message.

Is this not just disenchantment with old parties but a national psychological shift?

Certainly. Votes aren’t cast out of anger alone. Other options were available. This time, there was a full ‘setup’ of hope. Many citizens were unsure if the ‘bell’ would win but were willing to vote for it. Such a mindset is necessary for change.

Reaching the summit of Everest is tough, but staying there is more difficult. How will you manage the upcoming challenges?

I prefer to call this stage the ‘base camp’ rather than the summit. We have just begun and deserve best wishes for this phase. Reaching the base camp was arduous; the journey ahead will be even harder.

The public’s hopes are pinned on ‘bell.’ The National Independent Party seems more responsible than others now?

The greater the opportunity, the greater the challenge. We must begin working according to public expectations. It’s time to proceed responsibly.

Do you see changes in voters’ mindset?

Many say: They don’t want jobs but demand legal enforcement. Corruption must be controlled. This civic awareness is a strong force. Our decisions must be evidence-based, elevating merit over nepotism. Today’s voters believe if a mistake is made, waiting five years is not necessary.

We must reform the culture of politicians seeking to profit and serving self-interests. We cannot betray the public’s trust. Ministers must work with integrity to instill confidence; if we show selfishness again, public hope will be shattered.

Recalling electoral experiences in 2008 and 2017, past governments haven’t lasted. Are you concerned about internal conflicts within the National Independent Party due to diverse backgrounds?

Yes, past experiences have caused public skepticism. However, we emphasize ‘building’ and responsible conduct. Our approach is unified. The weaknesses of old powers made the situation critical. We are prepared to learn from history.

Is it challenging to unify people from diverse backgrounds?

Differences in opinions are normal, but the National Independent Party focuses on a common agenda. Our identity is singular. Previously, gaining large votes sometimes translated into power struggles; we are not inclined to repeat such mistakes.

There are no leaders in our party motivated by personal interests, and the system does not permit it.

Will the National Independent Party now focus more on work than power?

Absolutely. Challenges and problems are well-understood. We know what people want and the consequences of mistakes. The main focus is not on dividing power but on fulfilling national interests and public promises.

Many say foreign powers influence Nepal’s politics. How will you preserve Nepal’s independence and dignity once in government?

My perspectives as a student of international relations and as a parliamentarian differ, but the fundamental principle is that blaming foreign countries and distancing ourselves is not a solution. The turning point of the nation is internal. We must be strong and articulate national interests clearly. The old political culture of exploiting foreign powers and then blaming them when dissatisfied is weak. We must ascend to a higher level; with internal unity and clarity, we can even direct great powers to work in our interests. The solution lies with us.

You are active in the National Independent Party’s International Relations Department. What is Nepal’s national interest? How should Nepal engage with neighbors India, China, and major power the US? Is the government neutral or aligned with any of them?

That’s a misconception. Sovereign nations can be considered small or large, but it is political parties and leaders who have diminished Nepal. National interest should be based on the constitution and foreign policy. India, our neighbor, must behave with dignity and responsibility. We need to strengthen the Ministry of Foreign Affairs to prevent policy changes. Given our geography and circumstances, balanced relations with neighbors and major powers are beneficial. We will adopt policies based on homework, clarity, and will not become pawns.

What is your party’s strategy to maintain balance with neighbors and major powers?

Our primary responsibility is to build trust within the international community. India, China, the US, and Europe must all trust Nepal. This is only possible through transparency and clarity. We will not act against national interests under foreign influence.

But what about political parties being linked to foreign powers?

In the past, groups driven by selfish interests connected the country to foreign powers, but the new government will change that. No country is too distant or too close for us; we act as a nation. We will send a clear message to neighbors and allies: trust us, we are true to national interests and respect your security concerns.

What are the key priorities of national interest?

National interest is not limited to politics; it also involves imports-exports, medicine, and border disputes. Strengthening relevant institutions is essential. It may take time, but we are committed to building a strong foundation.

Lack of adequate preparation has eroded credibility in the past. How will you ensure improvement?

This is exactly the issue. The votes received by the National Independent Party send a message: “Define national interests, strengthen institutions, and engage with the international community respectfully.” We are fully committed to this.

New government and parliament face serious diplomatic challenges, such as the India-China trade agreement at the Lipulekh pass. What is your view?

Some years ago, I wrote an article for international media regarding this. That territory belongs to Nepal. India must behave respectfully. Misinterpretations damage India’s international image too.

Now that you are an MP, what role will you play in policy making?

I see the country as a worker, not just a political entity. Our party has a clear stance on national issues. We are firmly committed to the nation’s integrity and sovereignty without compromise.

What is the National Independent Party’s stance on Lipulekh? How do you respond to the two neighbors using Nepal’s territory for trade without permission?

The National Independent Party is clear: it is wrong for India and China to use Nepal’s land for trade without consent. It is a trilateral mistake. Based on historical proofs and the Sugauli Treaty, this land belongs to Nepal. We support a non-aligned foreign policy and Panchsheel principles. Dialogue is essential to prevent conflict. If India desired clarity, it could negotiate, but sovereignty must remain intact. The incoming government will uphold this position.

Tensions among Iran, Israel, and the US in West Asia affect Nepali workers and the economy. Your thoughts?

This should not escalate further. The damage is already significant. The security of Nepali workers, remittances, and the economy are linked to this. It is a sensitive matter. Peace is the only option. Responsible global leaders must take it seriously.

What role should Nepal play?

We support a non-aligned Panchsheel policy. Stopping war immediately and prioritizing peace talks is crucial. Conflict solutions are not lasting. Sovereignty must be respected. We approach this from a humanitarian perspective and advocate for peace.

Millions of Nepali workers are affected by war. What preparations exist for their protection?

The government must plan for security and rescue. Caution is needed before sending new workers to risky areas. We will activate diplomatic missions and develop mechanisms that respect workers.

The government formation may take days, but the crisis has begun. How prepared is civil security?

“Safety First” is our mantra—life is precious. Alongside government readiness, we urge citizens to remain vigilant and avoid conflict zones.

Neighbors and major powers are active in rescuing their citizens. We must also keep our people alert.

What is the status of the war in international affairs? The 48-hour ultimatum complicates issues further.

It’s hard to predict. All parties involved must exercise restraint and responsibility. We should recall the UN’s stance and raise voices advocating peace.

What role can Nepal play in this global crisis?

While we cannot mediate large states, taking a moral stance and providing small assistance still matters. Calling for peace is significant. Wars have long-term impacts. I urge all to move towards peace.

You are entering parliament, where practices are new. What are your plans for the next five years?

Changing the negative perception of politics is my main goal. I want to assure that I will work for the party and country’s benefit over five years and strive to establish a positive culture. I intend to apply my academic knowledge in policymaking.

Parliament is for lawmaking but is less active in practice. Many MPs dream of becoming ministers. I am committed to contributing constructively to legislation.

Voters often complain that candidates who appear good during elections don’t return to their villages after winning. I want to change this mindset. A parliamentarian is a public representative. I will raise people’s voices in the house and remain accessible always.

How challenging is it to balance voter expectations and parliamentary duties?

I want to be a bridge so people feel, ‘My representative listens to my concerns.’

I will apply my expertise especially in international relations, geopolitics, and internal security in parliament. After five years, people should see Nepal on the right path.

If the party or government makes decisions against public interest, what will you do? Defend the party or stand with public sentiment?

This is a critical question. Many have undermined public trust by blindly following party lines in the past. I am cautious. There is discipline, but I won’t stay silent if my conscience tells me a decision is wrong. Our party holds a strong position in parliament; holding the government accountable is our responsibility. I trust every decision of the National Independent Party will be for the country and people’s benefit. I hope the day never comes when I must question party or government decisions.