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Trump’s Warning: Plans to Return Iran to the Stone Age

March 31, Kathmandu – US President Donald Trump issued a stern warning against Iran during a White House address, triggering a global spike in oil prices. The speech was linked to escalating tensions in Iran. Trump warned of a tough military operation in Iran within the next two to three weeks, stating, “We will hit them very hard,” and threatened to send Iran back to the “Stone Age.” According to reports, before Trump’s address, the benchmark Brent crude oil price hovered around $100 per barrel. After the speech, prices rose approximately 4%, reaching $105.38 per barrel.

It was anticipated that Trump might make a new announcement regarding the Strait of Hormuz, but with no fresh updates released, oil prices still climbed. The Strait of Hormuz is critically important to the global economy, as about 20% of the world’s energy trade passes through this narrow maritime route. Since the joint US-Israeli strike on February 28, this passage has been largely blocked due to Iran’s warnings to target ships using the route in retaliation for the airstrikes.

Trump threatened attacks on Iran’s key energy infrastructure if negotiations fail. He warned of severe strikes targeting major power generation centers, saying, “If there is no deal, we will hit all the major electrical plants all at once.” He also clarified that the US has so far refrained from hitting Iran’s oil infrastructure, explaining, “We have not attacked the oil infrastructure because that would eliminate their ability to rebuild.”

Trump claimed that the US military action has caused significant damage to Iran’s military capabilities. “Iran’s navy is finished, the air force is grounded, and missile capabilities are almost destroyed,” he asserted. According to Trump, these operations have seriously impacted Iran’s nuclear program and its capacity to expand regional influence.

Praising Gulf allies, Trump said diplomatic solutions were initially prioritized, accusing Iran of continuing efforts to seek nuclear weapons and rejecting all attempts at an agreement. He commended support from allied nations including Israel, Saudi Arabia, Qatar, the UAE, Kuwait, and Bahrain, stating, “We will not let them fail under any circumstances.” Trump’s remarks indicate that the conflict might soon reach a decisive phase. While diplomatic talks continue, a strong military option remains on the table, directly affecting the Strait of Hormuz, global energy supplies, and oil prices.

Indus Valley: An Advanced Ancient Civilization About Which Little Is Known

Most houses made of bricks, uniformly designed streets, and an advanced sewage system equipped with flush toilets. Hearing this might evoke the image of a modern city, but in reality, it depicts the urban centers of the ancient Indus Valley civilization from thousands of years ago. This civilization was highly advanced and is believed to have coexisted alongside ancient Egypt and Mesopotamia – yet relatively little is known about it. One of its enduring mysteries stems primarily from its still undeciphered script, which continues to baffle historians.

The Indus Valley Civilization reached its peak phase between 2600 and 1900 BCE. However, its origins trace back even earlier, approximately around 4000 BCE, explains Dr. Sangaralingam Ramesh, a lecturer at the University of London and University College London. This civilization was centered around the Indus River, in present-day Pakistan and India. It encompassed not only agricultural villages but over 1,400 towns and cities, with the largest urban centers being Harappa and Mohenjo-Daro. According to Dr. Ramesh, the Indus Valley civilization was larger than both ancient Egypt and Mesopotamia, housing around one million people across 80,000 settlements.

  1. Advanced Urban Planning
    Dr. Ramesh points out that the Indus Valley civilization was among the first to construct homes from bricks. “The cities were constructed with straight roads set at right angles,” he describes. “They had wells, toilets within houses… and an advanced drainage system that predates the Roman civilization’s by about 2,000 years.” Excavations of this drainage system and bathing facilities reveal an emphasis on hygiene and awareness of disease control within the society. The density of urban areas facilitated effective supply chain management, which simplified trade. “They traded goods ranging from wood, copper, gold, to cotton textiles with ancient Mesopotamia,” Dr. Ramesh adds.
  2. Collective Governance Structure
    According to Dr. Ramesh, the organization of urban areas suggests more facets of their society. “There are indications of simple yet effective civic administration that managed infrastructure across towns and settlements,” he comments. “Their governance system appears to have been collective rather than highly centralized, with no evidence of royal courts or elite rulers.” These features distinguish the Indus Valley from other contemporary societies.
  3. Relative Equality and Peaceful Existence
    Evidence indicates some degree of social stratification in the Indus Valley, but it is not as pronounced as in other societies. “Social hierarchies are easily identifiable in Egypt and Mesopotamia, but in the Indus civilization, while house sizes vary slightly, the differences are not substantial,” Dr. Ramesh explains. Archaeologists have found signs of injuries on some skeletons; however, they consider this society more peaceful compared to others. “There are scant signs of warfare, fewer indications of a weapon-bearing elite class, and fewer trauma marks on skeletal remains compared to other ancient Near Eastern regions,” he notes. Nonetheless, this does not imply complete absence of violence. The lack of evidence may also shape this perception. “If there were no monuments or inscriptions about war, later researchers would find fewer traces of violent conflict,” he adds.

Many More Mysteries Remain
Much about the Indus Valley civilization remains unknown. One key reason, Dr. Ramesh suggests, is the limited archaeological excavation. “The civilization extended as far as Afghanistan, where current conditions are not conducive for excavations,” he says. Another factor could be the materials and methods they used in construction. “While Egypt and Mesopotamia utilized durable stone, the Indus people primarily used baked mud bricks and fired bricks,” he explains. “The absence of large stone temples, palaces, or royal tombs complicates reconstruction of the Indus state.” But the greatest challenge remains the inability to decipher the ancient Indus script.

Characters engraved on stones in the Indus Valley represent a script described by Dr. Nisha Yadav of the Tata Institute of Fundamental Research in Mumbai as “the most attempted yet still undeciphered script.” “Every ten days I receive emails claiming: ‘I have deciphered the Indus script,'” she remarks. However, no interpretation has gained scientific consensus. According to Yadav, deciphering is difficult because the script is brief, containing only five to fourteen symbols per inscription. A detailed ‘Rosetta Stone’-like artifact has yet to be found.

The Rosetta Stone is a world-famous ancient artifact inscribed with the same text in Egyptian hieroglyphics, Demotic script, and Classical Greek, which facilitated understanding of hieroglyphs. Nevertheless, Dr. Yadav’s research using computer modeling has revealed patterns in the symbols. Syntax rules and evidence of “inherent logic” within the script have been identified. “If we can read it, it would be like opening a treasure trove of knowledge,” she states. Decoding the script could illuminate the civilization’s beliefs, worldview, and clarify the role of inscriptions on trade goods and stones.

What Happened to This Civilization?
One leading theory for the decline of the Indus Valley civilization is environmental change. “Around 1900 BCE, they left these sites and relocated elsewhere, with archaeologists and climate scientists linking this to changes in rainfall and weather patterns,” Dr. Ramesh explains. Excavations at Mohenjo-Daro also reveal efforts by inhabitants to protect themselves from flooding. Dr. Ramesh emphasizes that understanding this is crucial for modern society because, “If glaciers today are melting rapidly, history could repeat itself.” He underscores that unlike then, we currently have technologies to monitor natural changes, and using this knowledge wisely can ensure sustainability of our civilization.

Parliament Session: First Meeting of the House of Representatives and Balen’s Potential Address

The first meeting of the House of Representatives after the recent election, scheduled for Thursday afternoon, presents a scene that, in terms of seat distribution and faces, differs from the past few decades, though experts note that the agenda items remain largely conventional. This time, out of 275 seats, 182 members were elected from the Rastriya Swatantra Party (Raswpa), a party established just before the last general election. Having secured a strong mandate from the people, the party is entering Parliament; a former House Secretary observed that maintaining balance within parliament will depend largely on the leadership of the ruling party.

The newly elected House with a five-year tenure will commence its session the same day the National Assembly convenes, where Raswpa representatives will not be present. The parliamentary secretariat has released a tentative list of eight agenda items for the House meeting set for 2 PM. The session will begin with the national anthem, followed by senior member Arjun Narasingh KC, designated as the speaker for the meeting, reading the official letter summoning the session delivered from the President’s office.

Subsequently, information regarding the Prime Minister’s appointment and the formation of the Cabinet will be conveyed to the House. Meanwhile, as a new rulebook has not yet been created, the House will operate under the procedural rules adopted in 2023 (2079 BS), which will be presented for approval in the agenda. Also included are the nomination of members who will chair proceedings in the Speaker’s absence and scheduled party-based statements, mirroring previous sessions.

The agenda also likely includes setting the date for the Speaker’s election, slated for the 22nd of this month. Following this, Home Minister Sudan Gurung is expected to present three ordinances introduced by the election government led by Sushila Karki. Additionally, a condolence motion honoring five late former members of parliament will be part of the meeting’s business.

कोशी, बागमती र गण्डकीमा वर्षा, कर्णाली र सुदूरपश्चिममा पनि पर्ने

Rain Likely in Koshi, Bagmati, and Gandaki; Precipitation Expected in Karnali and Sudurpashchim as Well

March 31, Kathmandu – Currently, western and local winds are partially active across the country. Their influence has resulted in partly cloudy skies in various regions and generally cloudy weather in some areas. According to the Department of Hydrology and Meteorology, there is generally cloudy weather in the hilly and mountainous areas of Koshi and Sudurpashchim provinces, as well as other provinces. The rest of the country is expected to experience partly cloudy conditions.

Annual Area for Spring Rice Planting Declines in Gulmi District


March 31, Gulmi – The area dedicated to planting spring rice (Chaitte rice) in Gulmi district has been steadily declining each year. Analysis of data over the past three years shows a continuous decrease in the annual area used for Chaitte rice cultivation. In the fiscal year 2023/24 (080/081 BS), rice was produced on 319 hectares, yielding 1,286 metric tons.

In 2022/23 (079/080 BS), 341 hectares were cultivated, producing 1,581 metric tons of rice. Similarly, 350 hectares were used in 2021/22 (078/079 BS), and 352 hectares in 2020/21 (077/078 BS).

The Agriculture Knowledge Center anticipates the area for Chaitte rice cultivation will shrink again this year. Recent data confirms the ongoing downward trend in production area.

Local rice varieties like Marsi CH 45 Chaitte and Hardinath 1 are the primary types planted in the spring. The Agriculture Knowledge Center of Gulmi attributes the decrease in cultivated area to out-migration and a resulting shortage of labor available for farming.

Additionally, a lack of rainfall during winter in recent years has caused difficulties in farming. Currently, farmers across the district have started planting rice in the month of Chait (March-April).

Rice planting typically begins in the first week of Chait and continues until the last week. Rice planted in Chait ripens by the first week of Shrawan (July-August). There is also a common practice of planting monsoon rice in the areas where Chaitte rice is cultivated.

Hybrid rice varieties like Shankar, Upaj, Champion, and US 312 are also cultivated. Local varieties grown in Gulmi include Hansraj, Aapjhot, Jhopri, Kathe, Jinuwa, Sano Bhatte, Thulo Bhatte, Kode, Badiyare, Lahare Badiyare, Thapchini, Guduro, Dhalloi, Pakhe, Red Marsi, and Marsi.

Although local varieties yield less, some farmers continue growing them due to their distinct qualities favored by the local population. These qualities, absent in improved and hybrid varieties, include less hunger pangs after consumption and a pleasant aroma.

In the district, Chaitte rice is grown in Kaligandaki Rural Municipality regions such as Arveni, Kanouta, Chapchaur, Shatyawati Rural Municipality areas like Limgha, Asleva, Johangkhaireini, Sahaghat, Chyami Phant, and Chandrakot Rural Municipality areas including Majuwa, Rupakot, and Shantipur.

Similarly, in Musikot Municipality, areas like Tallaphant, Indragouda, Bhuvachidi, Wamitaksar, Paudi Arewa, Bhramachaur, and around Badighat river see Chaitte rice cultivation. Malik Rural Municipality areas such as Simaltari, Phulbari, and Shiladi also engage in this farming.

In Madane Rural Municipality, regions including Sirseni Sim, Aglung Phedi, Bhanbhane lower areas, Dhrukot Rural Municipality near Panaha Khola and Chaldi, Ishma Rural Municipality’s Chaurasi Phant, Hulak, and areas near Chaldi and Nisti rivers also grow Chaitte rice.

Gulmi Darwar Rural Municipality regions such as Garmatari, Kharjen, Ghodahaphant, Tari Phant, Chhatrakot Rural Municipality’s Kharjyang, Manbag, Anga, Ullikhola, Boa Phant, and Ruru Rural Municipality areas like Tahatim, Ghiubesi, Chhamdi, and around Kaligandaki river are also known for Chaitte rice cultivation.

Currently, there is irrigation available year-round over 3,626 hectares used for winter and monsoon rice cultivation in the district. Partial irrigation facilities cover 6,690 hectares.

Due to insufficient irrigation across many areas, farmers remain dependent on rainfall. Furthermore, large-scale migration from rural areas has led to increasing fallow land and a shortage of people to work the fields.

खड्कालाई डिस्चार्ज गर्ने तयारी,  ओलीको कल्चर रिपोर्ट आएपछि निर्णय लिइने

Preparations to Discharge Khadka; Decision on Oli Pending Culture Report


March 31, Kathmandu – Former Minister of Energy, Water Resources and Irrigation and Congress leader Deepak Khadka is prepared to be discharged by doctors on Thursday.

Khadka was admitted to Tribhuvan University Teaching Hospital after developing health issues following his arrest by police last Sunday. According to the hospital’s information officer Kaliprasad Rosyara, Khadka was hospitalized due to vomiting and diarrhea requiring further treatment.

“Vomiting stopped since yesterday morning, and diarrhea ceased last night,” Rosyara said. “If his current condition remains stable, preparations are underway to discharge him tomorrow.”

Khadka was arrested by the Commission for the Investigation of Abuse of Authority on Sunday concerning the cash recovered from his house during the Genji movement protests on September 9. The court authorized seven days of detention for investigation.

However, after a sudden rise in blood pressure accompanied by diarrhea on Sunday night, he was taken to Norvic Hospital in Thapathali. Due to unavailability of beds, the hospital referred him to Tribhuvan Teaching Hospital at 3 a.m. Sunday night. He is currently receiving treatment in Bed No. 1029.

Meanwhile, CPN-UML Chairman and former Prime Minister KP Sharma Oli is also undergoing treatment at the Teaching Hospital. Rosyara reported that a urine culture was conducted yesterday (Tuesday) following detection of infection in his urine. The culture report is expected tomorrow, after which decisions on his treatment will be made.

An X-ray performed on Oli on Saturday revealed gallstones, but according to the doctors, there is no immediate need for surgery given his current condition.

A team of gastro surgeons has also advised that operating at this time could be risky considering Oli’s health status.

However, Oli had expressed his desire to have the surgery performed soon after his admission.

“Decisions on whether to discharge him or not will depend on the infection status in his urine,” Rosyara said, “but he requested gallbladder surgery upon admission.”

Due to multiple factors including two prior kidney transplants, advanced age, and heart conditions, doctors have deemed surgery to carry considerable risk. Rosyara said, “Given his multiple health issues, doctors consider surgery to be risky.”

During the Genji movement protests on September 9 and 10, Oli was serving as Prime Minister. A commission led by former Justice Gauribahadur Karki investigating the incident found Oli guilty and recommended investigation for charges related to loss of life.

Based on this report, the government arrested Oli on Saturday morning, with the Kathmandu District Court granting five days of remand custody.

After arrest, Oli was taken to Tribhuvan Teaching Hospital for health examination. Initial tests were conducted in the emergency ward, during which he reported experiencing irregular heartbeats.

Following this, he was admitted to Bed No. 501 in Annexe-1 for further evaluation.

On Sunday, a Holter monitor was placed to assess his heart rhythm, and doctors reported a normal heart rate in the results.

Golchha Group Donates NPR 50 Million to Kathmandu Institute of Child Health

Golchha Group, a prestigious industrial and business conglomerate in Nepal, has donated NPR 50 million to the Kathmandu Institute of Child Health (KIOCH). The financial support was announced during an event held on Wednesday, aimed at facilitating accessible treatment and effective health services for children. Shekhar Golchha, chairman of Golchha Group, expressed pride in being part of the campaign to build children’s hospitals across all seven provinces.

The agreement was signed by Shekhar Golchha, chairman of Golchha Group, and Professor Dr. Bhagwan Koirala, founding chairman of KIOCH. Golchha stated, “We are delighted to commence collaboration with KIOCH under our foundation’s social responsibility initiatives starting today. We believe this partnership will continue into the future, enabling children to receive easier access to treatment and higher quality healthcare services through children’s hospitals.”

Professor Dr. Koirala expressed gratitude for Golchha Group’s support, saying, “This contribution will help thousands of children access quality healthcare and greatly assist in the construction of children’s hospitals across all seven provinces.” Currently, hospitals are operational in Damak, Koshi Province, and Kathmandu, Bagmati Province. KIOCH was established with the goal of providing high-quality healthcare services to children across the country. Golchha Group is one of Nepal’s oldest and most prominent business groups, with a distinguished history of pioneering industrialization and founding the country’s first industry.

Wimlendra Nidhi: Special General Convention Declared Illegal, Legitimacy of Congress Contested

March 31, Kathmandu – Former Deputy Chairman of the Nepali Congress, Wimlendra Nidhi, has declared the recently held special general convention illegal and stated that they will not recognize it. Speaking to reporters on Wednesday after discussions with supporters of Purna Bahadur Khadka and Dr. Shekhar Koirala, Nidhi asserted that only their faction represents the legitimate Congress and that they have filed a petition in the Supreme Court challenging the Election Commission’s decision.

He further claimed that under Khadka’s leadership as ‘Acting Chairman,’ consecutive Central Committee meetings were held over the past two days. “The Supreme Court hearing is scheduled for the 22nd. Although the Election Commission has recognized the special general convention supporters, we consider it illegal, unconstitutional, and politically inappropriate, which is why we have approached the Supreme Court,” Nidhi said. “We have neither recognized nor participated in the special general convention.” The meeting also covered preparations related to the ongoing case, he added.

“Legal advisors and advocates are ready for the hearings, and we are currently deliberating on the matter,” he noted. Nidhi reiterated that only their faction is the legitimate Nepali Congress. “We are the real Congress; wherever we are, that is the true Congress. This is the conclusion we have reached,” he clarified.

According to Nidhi, the session also involved discussions regarding election-related issues. “The circumstances under which the election was conducted produced unpredictable results. The election occurred unexpectedly in 2025 B.S., although it was scheduled for 2027 B.S. We participated to uphold the constitution and undertook a thorough review,” he explained. The discussion extended to current national political matters as well.

“In this regard, the Nepali Congress majority discussed advancing the democratic system with greater strength than before,” Nidhi stated. “Broad unity is necessary for this, and we will make it our mission. We plan to continue dialogue with partners nationwide.” He urged that supporters of the special general convention should also be ready to support party unity.

एमाले खिइँदा बादललाई सफलता – Online Khabar

Unexpected Rise of Ram Bahadur Thapa Badal in Nepalese Politics

March 31, Kathmandu — The political transformation following the Janajati movement has brought unexpected success to Ram Bahadur Thapa Badal. After the dissolution of the then Nepal Communist Party (NCP), Thapa chose to remain within the Communist Party of Nepal (Unified Marxist-Leninist) or CPN-UML. Within a short span of five years, he has ascended to the positions of acting party chairman and leader of the parliamentary party. The internal crisis within the UML played a significant role in accelerating his rise.

Had the UML avoided its historic defeat in the last election and had Prime Minister KP Sharma Oli not been arrested, Thapa’s role might have remained limited to that of a vice-chairman. However, citing the implementation of the Kari Commission’s recommendations, the former Prime Minister Oli was arrested on the morning of April 2 (Nepali date 14 Chaitra).

“After Oli’s arrest, the chairman appointed Thapa as acting chairman the same day,” said Mahesh Basnet, Secretary of the UML. In fact, a secretariat meeting under Thapa’s leadership had already begun prior to Oli’s arrest. Following the electoral results declared on February 3 (21 Magh), the secretariat had convened on March 15 (1 Chaitra) with Thapa chairing due to Oli being on private bereavement leave. Oli had not presided over any meetings under normal circumstances. After Oli’s detention, another secretariat meeting was held on April 3 (17 Chaitra) under Thapa’s chairmanship, where the decision to select the parliamentary party leader was finalized.

The UML faced two choices in selecting the parliamentary party leader: either to appoint Thapa, a senior leader elected via proportional representation, or to acknowledge the changed political environment by promoting a younger leader. Thapa insisted on his central role, disregarding voices advocating change both inside and outside the party. Had he been responsive to such calls, 36-year-old Suhang Nembang would have become the leader of the UML parliamentary party. Suhang had expressed his interest in leading during the parliamentary party meeting. Sources reveal that Rajendra Rai and Arjun Karki had promised to propose and support Suhang’s candidacy, with some proportional members also voicing support. However, a scheme orchestrated by Rajendra Rai and Arjun Karki limited proposer and supporter roles to directly elected MPs only, creating unforeseen challenges for Suhang upon his arrival in Chyasal.

“Upon reaching Chyasal, Secretary General Shankar Pokhrel had already consolidated his dominance. Since Suhang was unwilling to step back, MPs designated as proposers and supporters were pressured,” sources report.

The decision on the parliamentary party leadership has sparked dissatisfaction within UML ranks. Deputy Secretary General Yogesh Bhattarai publicly voiced his objection to the pressure exerted on MPs, which led to Suhang being unable to secure even a proposer or supporter. Frustration is widespread among young central members as well as local party workers.

The meeting that reshaped the alliance was organized after KP Oli’s arrest provided Thapa the opportunity to become acting chairman. According to party insiders, Thapa revolted during the secretariat meeting on December 27 (13 Poush) and placed himself on the proportional candidate list. Oli had indicated that Thapa should contest a direct electoral constituency. However, due to predictions that Chitwan would be a difficult seat for the UML, Thapa preferred becoming an MP through proportional representation. During that meeting, Thapa vocally objected to the list presented by Oli, which included names such as Guru Baral first among the Khas Arya males and Jitu Gautam Darji amongst Dalit males.

“Is this the list?” Thapa had asked sharply.

However, circumstances changed the next day. “Oli corrected the list by placing Thapa’s name at the top for the indigenous male category. After that, Thapa became silent,” an official said. Once Thapa’s parliamentary seat was secured, Oli restructured the leadership, removing vice-chairman Gokarna Bista and Deputy Secretary General Yogesh Bhattarai among others. Crucially, after securing Thapa’s support, the power balance within UML was fundamentally altered. Currently, Thapa stands poised to lead both the party and the parliamentary faction.

Thapa’s rise was not limited to personal gains but also overshadowed the decade-long Maoist armed insurgency that opposed parliamentary politics. After failing to deliver a constitution through the Constituent Assembly in 2007 BS (1961/62 AD), Thapa was expelled from the Maoist party. Subsequently, Pushpa Kamal Dahal “Prachanda” gave him opportunities in parliamentary politics and power. Though Thapa led the agitation disturbing the 2014 BS (1957) Constituent Assembly elections, he was appointed Home Minister following the 2017 general election by Prachanda. Though he was not elected to the House of Representatives, Thapa was a member of the National Assembly. However, the UML-Maoist alliance dissolved within three years after 2017 BS (1960) and Oli’s prime ministership following the dissolution of the House of Representatives set the stage for the breakup of the then NCP union. Having originally been a Maoist leader, Thapa resigned his ministerial post and ceased supporting reinstatement of the House of Representatives, opting instead to back Oli by joining the UML. However, during this period, he lost both his National Assembly membership and Home Minister portfolio. He also did not contest in the 2022 elections.

Under Oli’s sole leadership, Thapa was elected vice-chairman during the UML’s decade-old national general convention in 2021 BS (1964) and then re-elected as vice-chairman at the 11th national convention held last December. During the period of the then NCP, Thapa’s seniority over Vishnu Paudel helped elevate their positions within the party, thereby laying the foundation for Thapa’s current appointments as acting chairman and parliamentary party leader.

Process to Distribute Shares to Depositors of Troubled Karnali Development Bank Initiated

Nepal Rastra Bank has initiated the process to convert depositors of the troubled Karnali Development Bank into shareholders. The bank’s liabilities exceed its assets by approximately 25 percent, making it impossible to return all deposited funds to the depositors. During the share conversion process, the price per share has been set at NPR 100, and if additional capital is insufficient, plans are underway to raise funds from domestic or foreign investors. Kathmandu, 18 Chaitra.

Nepal Rastra Bank is preparing to make the depositors of Karnali Development Bank shareholders as part of the effort to recapitalize and restart operations of the troubled institution. Since the bank’s liabilities exceed its assets by roughly 25 percent, the central bank has started this process to raise the necessary capital by converting depositors into equity holders. Redistribution of assets and liabilities by liquidation is unfeasible, prompting a plan to revive the bank.

To facilitate this, the governing board of Nepal Rastra Bank has decided to request the Securities Board of Nepal to assist with the process. Approval from the Securities Board is required to convert depositors into shareholders. Tika Ram Khatri, coordinator of the management committee appointed by the central bank, shared that discussions for necessary decisions on this matter have been underway. He explained, “There is a mismatch between the bank’s deposits and assets. Currently, deposits stand at NPR 430 crore, whereas assets total about NPR 365 crore.” According to him, even if all assets were realized, the depositors cannot be reimbursed in full.

Moreover, the quality of the bank’s loan portfolio is weak. Khatri added, “Considering the supervisory haircut as well, depositors cannot be repaid fully.” Therefore, to safeguard depositors, the institution must be restructured and resumed. Under current circumstances, depositors stand to lose around 25 percent of their deposits. To recover their funds through the revival of the bank, the depositors must convert their deposits into shares.

Two options are being explored to raise capital and issue shares in compliance with Nepal Rastra Bank’s directives. One such plan allows depositors to acquire shares equal to or less than their deposits, and initial surveys indicate depositors are amenable to this approach. The share price has been fixed at NPR 100 per share during conversion. If capital remains insufficient, funds will be sought from interested domestic or foreign investors.

Khatri noted, “We have reduced shares held by disorganized founders and common shareholders; the share value has fallen to NPR 1 per share, effectively converting 100 shares into 1. From the existing NPR 50 crore capital, NPR 23 crore has already been written down, leaving about NPR 27-28 crore in capital. To establish paid-up capital and manage liabilities for operational revival, over NPR 400 crore in capital is necessary.” Currently, the bank’s shareholding structure is 51 percent founders and 49 percent general public. After reopening, the shareholding pattern is planned to be adjusted to 60 percent founders and 40 percent public.

Under the Nepal Rastra Bank Act 2058, any share-related activities require approval from the Securities Board. Assistant spokesperson of the Securities Board Tolakant Nyaupane remarked, “The central bank is attempting actions it has not undertaken before, leading to the need for discussions between the Board and the Rastra Bank. Since the laws are unclear, amendments to the Securities Registration and Issuance Regulations and related directives are necessary.”

What is the Current Status of the Investigation Against UML Secretary Mahesh Basnet?

March 31, Kathmandu – The Patan High Court has dismissed a writ petition filed by a young woman demanding the advancement of a supplementary complaint against UML Secretary Mahesh Basnet. The woman had filed a complaint at the District Police Office about allegations involving Basnet in cases of feticide, rape, and robbery, calling for investigation progress. When the complaint did not move forward, she petitioned the Patan High Court. However, the bench of Justices Somkant Mainali and Keshav Prasad Adhikari rejected the writ, noting that legal proceedings were already underway.

The order states, “Following the order issued by the Kathmandu District Court on March 30, 2026 BS (April 13, 2020), the legal process appears to be in progress; therefore, there is no need to issue a mandamus as requested by the petitioner.” The writ petition was consequently dismissed.

With the order made public, UML leader Mahesh Basnet claimed that the ordeal imposed on him by the young woman over the past three years had come to an end. He asserted that all related complaints have been dismissed, and attempts to file supplementary complaints have failed following the High Court’s decision. Nevertheless, the High Court declined the petition, citing the ongoing legal process. On Tuesday, the District Court refused permission to arrest Basnet, stating that an arrest could only proceed after receiving the certified copies of the order from the Patan High Court. Subsequently, the High Court ruled that since the legal proceedings had already begun, no mandamus was required, thus dismissing the petition.

The young woman, identified as residing in 26 Parisar 58, had previously filed a written complaint which the police refused to register, prompting her to send it via postal service to the District Public Prosecutor’s Office. When the investigation did not advance, the Public Prosecutor decided not to pursue the case. The writ petition filed against this decision was dismissed by the Patan High Court. She later submitted an additional supplementary complaint. Observing no progress following her complaints, her second writ petition was under consideration at the Patan High Court, which also requested all related files from the Public Prosecutor’s Office during hearings.

After the second complaint, the District Police Office, Kathmandu, sought permission from the Kathmandu District Court to arrest Mahesh Basnet. The court expressed that it would grant arrest permission only after reviewing the previous case files. The order from the District Court two days prior mentioned, “The file is currently with the High Court, and there is no change in its registration details. Since this matter is under consideration by the High Court, issuing further orders from this court would be contrary to judicial norms and legal procedures.” The District Court emphasized that decisions would be made only upon receipt of authenticated copies from the High Court.

The order further states, “Under the current circumstances, arrest permission cannot be granted as requested.” Following the Wednesday order from the Patan High Court, UML leader Basnet declared that all investigations against him have been completed. The District Court indicated it would finalize remaining matters after the High Court’s directives. The High Court’s dismissal was based on the fact that investigations were ongoing, making a mandamus unnecessary. This situation has raised questions about the investigation’s next steps. A government prosecutor commented on the apparent confusion between the instructions of the District and High Courts: “Once the High Court concludes the matter, the file will be submitted to the District Court, which will then make decisions accordingly. We will submit the files asserting that the investigation is ongoing, and the District Court will decide on further action based on that.”

What Is Causing the Persistent Decline in the Stock Market?

Summary: Following the formation of the new government, the arrest of former Prime Minister KP Sharma Oli and former Home Minister Ramesh Lekhak has prompted the UML party to launch street protests. Rumors that the Anti-Money Laundering Investigation Department is preparing to investigate several businesspersons have caused unnecessary fear in the stock market. Meanwhile, the Nepal Stock Exchange is finalizing margin trading regulations and plans to offer margin lending services starting from the month of Baishakh. Kathmandu, 18 Chaitra.

After the two-thirds majority government under Balendra Sah was formed last Friday, investors were optimistic, expecting renewed energy in the stock market from Sunday onward. However, the arrests of former Prime Minister KP Sharma Oli and former Home Minister Ramesh Lekhak led to protests by the UML party, and fears of armed clashes negatively impacted the stock market. The market experienced significant declines on Sunday and Monday, showed slight gains on Tuesday, and then a sharp fall on Wednesday.

Alongside fears of political conflict, rumors that the Anti-Money Laundering Investigation Department is preparing to investigate numerous businesspeople have introduced volatility to the market. The government has already arrested former minister and businessman Deepak Khadka in a money laundering case. On Tuesday, reports emerged that another businessman, Deepak Bhatt, was blacklisted by the Immigration Department following a letter from the Anti-Money Laundering Investigation Department. These developments have alarmed investors who fear more arrests, which is considered a major cause of the market downturn.

According to Narendra Sijapati, former president of the Stock Brokers Association of Nepal, one of the main reasons for the steep declines in the stock market is the unwarranted fear related to money laundering investigations. He stated, “This has unnecessarily unsettled the market. The stock market operates transparently through the banking system, making it nearly impossible for investors to hide proceeds from share sales, so this fear is unfounded.”

Another broker added that it’s widely believed no one would invest in the transparent stock market for money laundering purposes. With investigations underway by the Anti-Money Laundering Department, major investors are adopting a wait-and-see approach, refraining from selling shares hastily. Tulsi Ram Dhakal, president of the Nepal Investors Forum, emphasized that investors should not be fearful about these money laundering inquiries. He said, “The government is introducing private sector-friendly policies and prioritizing good governance in the capital market. Therefore, the current environment of fear is unnecessary.”

Dhakal also explained that all capital market transactions occur through the banking system, and the notion that illegal funds are flowing into the market is incorrect. “Broker companies neither pay nor accept cash directly when dealing shares, so the belief that illicit money is entering the stock market is inaccurate,” he added. With limited investment opportunities elsewhere and low interest rates in banks, the capital market has become a preferred avenue for investment.

Even Sijapati agrees that investors should not overreact to investigations by the Anti-Money Laundering Department. “Controlling money laundering is the state’s responsibility, and some businessmen may have injected illicit earnings into the market,” he said. “While this may have short-term negative effects, ultimately it will ensure a sustainable and secure market.” Policies favorable to the capital market continue to be developed. Recently, the Nepal Stock Exchange (NEPSE) announced margin trading guidelines and released a list of eligible companies. Beginning in Baishakh, broker companies will provide margin lending services, which investors believe will help the market grow sustainably.

Why Is the APF Team, Loaded with Star Players, Struggling?

The Armed Police Force (APF) club, led by national team captain Rohit Paudel and other prominent players, has failed to deliver a strong performance in the Prime Minister’s Cup One-Day Cricket Tournament. APF has lost four out of five matches in the competition. Captain Rohit Paudel has managed to score only 49 runs in these five games. Bowlers Nandan Yadav and Avinash Bohara have had limited opportunities.

Kathmandu, 18 Chaitra: Despite being considered a strong domestic team with former national players, the APF club has been experiencing consecutive defeats in the Prime Minister’s Cup one-day cricket competition. In Wednesday’s match held in Birgunj, APF was defeated by Lumbini Province. Chasing a target of 125 runs set by APF, Lumbini was all out for 124 runs, taking the game into a super over. In the super over, APF managed just six runs while chasing a target of 15, resulting in defeat.

National team players including captain Rohit Paudel, Lokesh Bam, and Sandeep Jora struggled against the bowling of 19-year-old youngster Santosh Yadav. Despite the presence of national players, APF has been unable to maintain consistent form in the ongoing PM Cup tournament.

APF started well by defeating Bagmati Province by 71 runs in their opening match, but suffered a heavy 185-run loss against Nepal Police Club in their second game. The third match was abandoned due to rain, and APF lost the fourth and fifth matches against provincial teams.

Departmental teams usually dominate domestic cricket, often winning titles across various tournaments. Provincial teams have found it challenging to compete with these departments. However, APF has been consecutively defeated by provincial teams. They lost to Gandaki Province by 43 runs and were also defeated by Lumbini in the super over.

The APF squad includes national team players such as captain Rohit Paudel, openers Asif Sheikh, Sandeep Jora, Lokesh Bam, and bowlers Nandan Yadav, Avinash Bohara, and Kamal Singh Airi. Despite these strengths, the team is losing to provincial sides and most players have yet to find their rhythm after five matches. Opener Asif Sheikh scored a century in the first game but has since been inconsistent, failing to score more than 21 runs in any subsequent match. Captain Rohit has totaled only 49 runs across five games. Although he has taken seven wickets, the team’s overall bowling performance remains below expectations. Sandeep Jora and Lokesh Bam have also underperformed. Sandeep managed a half-century in the first match but has been disappointing afterward, scoring 112 runs in five matches. Lokesh has scored only 60 runs. Bowlers Nandan Yadav and Avinash Bohara have had limited chances; Nandan has claimed two wickets and conceded 49 runs in two games, while Avinash took three wickets in three matches. Kamal Singh Airi has taken four wickets and scored 66 runs over five games. Young bowlers Yuvraj Khatri and Abhishek Gautam have also not made significant impact, with Yuvraj taking five wickets and Abhishek six wickets, yet both are struggling to find consistent form. This lack of rhythm across players is a key reason behind APF’s string of defeats.

APF’s performance has continuously declined in the Prime Minister’s Cup. Under the captaincy of Rohit Paudel, who took over in 2024, the team’s form has weakened. In the 2024 season, APF finished fifth, while in the previous edition, they had secured third place. This season similarly has not started well for them.

APF had won the title successfully in 2022 by defeating Tribhuvan Army Club in the final. They beat Army in 2021 and were eliminated in the semifinals in 2019. APF were champions in 2018 after reaching the semifinals in 2017. Past captains include Gyanendra Malla (2017), Basanta Regmi (2018 and 2019), and Sharad (2021 and 2022). Rohit Paudel has been leading the squad since then.

एसईईको तयारी पूरा, ५ लाख १२ हजारले दिँदैछन् परीक्षा

SEE Exam Ready to Commence with Over 512,000 Students Registered

The preparation for the Secondary Education Examination (SEE) has been completed. Examinations will be conducted from Chaitra 19 at 1,966 exam centers. This year, 512,421 students will participate in the SEE, including 257,613 female students and 254,801 male students. Results will be announced within one month after the exam concludes, and answer sheets will be evaluated at the exam centers.

According to the National Examination Board, preparations for the examination starting tomorrow, Thursday, are complete. Examination Controller Tukaraj Adhikari stated, ‘Preparations are finished. The exam will be conducted tomorrow. All 77 districts have reported complete readiness.’ Among the 1,966 established exam centers, one is located in Japan.

Board Member Secretary Jung Bahadur Aryal said, ‘We plan to announce the results within one month after the exams end.’ He added, ‘The evaluation of answer sheets will take place at the examination centers, supervised by the center chiefs.’ Education, Science, and Technology Minister Sasmit Pokhrel had instructed the board to release results within one month, and the board has adhered to this directive.