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CPN-UML Senior Vice Chairman Ishwor Pokharel on Monday submitted the documents he had prepared for the party’s upcoming general convention to General Secretary Shankar Pokharel, after Chairman KP Sharma Oli did not come to the office.

Earlier in the afternoon, Pokharel had visited the party office in Chyasal, Lalitpur, to meet Chairman Oli with the documents.

The renovation of Gallery Baithak, a historic structure on the premises of Singha Durbar, which was damaged by the 2015 devastating earthquake is unlikely to be completed within the timeframe.

The Special Building Construction Project Implementation Office under the Ministry of Urban Development on June 2, 2024 had signed a contract with Prera ​​Construction Services Pvt. Ltd. for the retrofitting of the building.

According to the agreement, the project valued at around Rs 390 million was to be completed on November 22, 2025.

Earlier on March 23, 2023, the Delegated Management and Government Assurance Committee of the National Assembly had issued a directive that the Gallery Baithak building be preserved as a heritage site.

The then Rana Prime Minister Chandra Shumsher had constructed the Gallery Baithak as a private 'theater' on the premises of Singha Durbar in 1965 BS.

The first Parliament meeting was held in the same building on June 30, 1959 after the 1958 general elections.

The first session of the National Panchayat Assembly was also held in the same building on April 14, 1963.

Similarly, after the 1991 general election, Parliament started holding meetings in the same building.

The first meeting was held in the same building on April 28, 2006 after the formation of the interim government in 2006. The then rebel party, the Maoist also took part in the meeting.

The Gen Z Joint Group on Monday sent a demand letter to Prime Minister Sushila Karki through the post office in Dilli Bazaar being unable to enter Singha Durbar to submit their list of demands.

Experts have urged Nepal to urgently shift toward equity-based investment and implement regulatory reforms, warning that ‘free capital’ inflows will begin to disappear after 2026, when the country graduates from the Least Developed Countries (LDCs) category.

“The era of free money ends,” said Calvin St. Juste, Special Envoy for Investment of the Federation of St. Kitts and Nevis, during a high-level roundtable meeting in Kathmandu on Sunday, reads a statement issued by Asian Institute of Diplomacy and International Affairs (AIDIA).

The event, organized by the Asian Institute of Diplomacy and International Affairs (AIDIA), brought together senior banking leaders, media representatives, and economic analysts to assess Nepal’s investment landscape, its credit rating trajectory, and opportunities arising from shifting global financial currents.

 “Grants fade, and loans cannot sustainably replace them. Equity can,” he added.

The Envoy encouraged Nepal not to fear its forthcoming graduation from LDC status, but instead view it as an inflection point.

He argued that Nepal should shift from loans to equity-based financing, particularly in sectors like hydropower where domestic capacity is strong but international capital remains essential.

“Political uncertainty is temporary,” he said, adding that challenging or not, this is the moment to bring investors in.

St. Kitts and Nevis ranked among Nepal’s top five foreign direct investment (FDI) sources in 2020-21 in the Nepal Rastra Bank’s report.

Addressing widespread misconceptions around ‘tax haven’ jurisdictions, speakers emphasized the importance of distinguishing competitive tax policy from illicit financial practices, according to the statement.

Addressing the persistent label of ‘tax haven,’ he urged Nepal to reframe the global narrative. “Tax competitiveness is not illegal,” Calvin said, adding that tax avoidance is legal; tax evasion is not. “Don’t be fearful of designing a system that allows your economy to survive.”

Calvin shared the experience of St. Kitts and Nevis, which endured bankruptcy in 2005 after decades of dependence on the sugar industry. The turning point, he explained, came when the country shifted from reliance on commodities and concessional aid toward attracting FDI and building investment-driven resilience.

Calvin, on the occasion, also highlighted the structural similarities between the two nations. “Nepal is landlocked, whereas St. Kitts is sea-locked,” he said, adding “In different ways, we are both small states whose destinies can be profoundly shaped by external forces.”

Referencing a recent Fitch report, that Nepal got BB- ratings, pointed to growing investor hesitation due to political unpredictability, he said Nepal should take the ratings advantage. “As investors, you cannot control politics, but you can control risk.”

He also urged Nepal to proactively address systemic vulnerabilities.

On the occasion, Ram Kumar Tiwari, CEO of Nepal SBI Bank informed that investors have begun pulling back due to current political uncertainty, the statement further reads.

Likewise, Ananda Jha, CEO of CARE Ratings Nepal Ltd highlighted Nepal’s own structural challenges, including conflicts across multiple regulators – Nepal Rastra Bank (NRB), Securities Board of Nepal (SEBON) and Electricity Regulatory Commission (ERC) – which often lead to fragmented or convenience-driven policy outcomes.

Despite a growing capital market and rising entrepreneurial activity, the country lacks meaningful international access, he said.

Apart from concerns around liquidity scarcity and investor skepticism, participants also pointed to rigid labor policies and a prevailing working culture misaligned with global productivity expectations.

While acknowledging the value of an eight-hour workday, they stressed that technology and Artificial Intelligence (AI) now enable output many times greater without extending hours.

High tax rates – corporate taxes of 20% to 25% and personal taxes up to 39% – are also flagged as deterrents to large-scale investment in Nepal. Participants also questioned the justification for high taxes without visible improvements in public services, underscoring the importance of customer-centric governance.

Sudyumna Prasad Upadhyaya, Sanima GIC CEO, during the discussion highlighted the insurance and reinsurance companies’ performance and profitability in the Caribbean including St Kitts and Nevis.

Assistant Sub-Inspector (ASI) of Nepal Police Pushkar Karki has been arrested on charge of killing his four-month-old son.

Karki was arrested from Nagdhunga while he was fleeing the incident site, Sinamangal, Kathmandu, according to Pavan Kumar Bhattarai, Superintendent of Police and Spokesperson of District Police Range, Kathmandu.

"We arrested Karki for his involvement in killing his infant son. He was held from Nagdhunga and further investigation is underway," SP Bhattarai said, adding that Karki strangled the infant to death.

Further information would be revealed after the investigation, he added.

Nagdhunga-Malekhu road section would be partially closed for a week for upgrading tasks.

The Nagdhunga-Muglin road project is closing the vehicular movement for five hours from 10:30 am-3:30 pm every day from December 10-16.

The vehicular movement would be closed from Piplamod from Nagdhunga and Pokharebhir area.  The Road Project urged people to use alternative routes during the period.

Small and middle-size vehicles could use the Sitapaila-Bhimdhunga-Ramkot-Dharke road section. Similarly, a route from Samakhusi-Tokha-Chhahare-Galchhi as well as another route Jarekhet-Trishuli-Ghatbesi bridge could be used as alternative routes during the period.

Upgrading the Nagdhunga-Naubise section of the Tribhuvan Highway is in the phase of completion after blacktopping.

Engineer of the project, Keshav Ojha, said the road section would be partially closed as very heavy equipment and supplies should be mobilized at a time which might increase risk of accidents. 

Farmers in the Sunthan area of ​​Panauti Municipality-9, Kavre are currently busy harvesting potatoes. The area produces potatoes twice a year, contributing significantly to local supply.

Nepal, which has not yet become fully self-sufficient in potatoes, has been importing potatoes worth Rs 6 to 8 billion annually to meet domestic demand, according to data from the last five years.

It has been learnt that Nepal imported 287,000 tons of potatoes worth Rs 7.10 billion in the last fiscal year 2024/25.

According to statistics, the annual production of potatoes in Nepal stands at 3.3 to 3.5 million metric tons and the annual demand ranges between 3.3 to 3.7 million metric tons.

Current production is sufficient to Nepal for only 11 months, leaving the country dependent on imports for a month.  

Most of the potatoes grown in Nepal are used for domestic consumption.

It is the main food crop in the hilly areas, while it is used as a vegetable and snack item in urban areas.

In the industrial sector, potatoes are used to make chips and finger chips.

Japanese Ambassador to Nepal Maeda Toru paid a courtesy call on Prime Minister Sushila Karki on Friday.

During the meeting held at the Office of the Prime Minister and Council of Ministers, matters relating to the celebration of the 70th anniversary of Nepal-Japan relations were discussed, according to the Prime Minister's press coordinator, Ram Bahadur Rawat.

On the occasion, the ambassador applauded the government's resolution to conduct fresh elections for the House of Representatives on the announced date, adding that the Government of Japan is ready to extend all possible support to Nepal in its efforts to conduct the elections.

In response, the Prime Minister thanked Japan for its contributions to Nepal’s development sectors and other areas, expressing her confidence in the continuation of such support in the days to come.