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The route for electricity export from Nepal to Bangladesh has officially opened. With the signing of an electricity sale agreement between three companies from Nepal, India and Bangladesh on Thursday, Nepal is set to export electricity to a third country for the first time. Nepal has been exporting electricity to India for the past three years.

A tripartite Power Sale Agreement (PSA) was signed between the Nepal Electricity Authority (NEA), the Bangladesh Power Development Board (BPDB) and India’s NTPC Vidyut Vyapar Nigam Ltd (NVVN) during a program held in Kathmandu. As part of this agreement, Nepal will export 40 MW of electricity to Bangladesh in the first phase.

The agreement outlines that Nepal will sell the electricity, which will be transported through India’s transmission lines, and Bangladesh will purchase it. NEA Executive Director Kulman Ghising, BPDB President Rejul Karim and NVVN CEO Renu Narang signed the agreement.

The signing took place in the presence of Nepal’s Minister for Energy, Water Resources and Irrigation Deepak Khadka, and Bangladesh’s Minister for Forest, Environment, Climate Change and Water Resources, Syeda Rizwana Hasan. The Indian Ambassador to Nepal, Naveen Srivastava, was also present at the event.

Although the tripartite agreement was originally scheduled for July, it was postponed due to political protests in Bangladesh.

NEA Executive Director Ghising described the agreement as a milestone in South Asia’s energy cooperation, stating, “This is the culmination of our shared vision. It will open doors for subregional and regional cooperation.”

According to the agreement, NEA will export electricity to BPDB at a rate of about Rs 8.64 per unit (6.40 US cents).

For the export to Bangladesh, BPDB will pay a ‘wheeling charge’ to NVVN for using India’s transmission lines.

Nepal will install an electricity meter in Muzaffarpur, India, where the amount of electricity exported to Bangladesh will be recorded. NEA will bear the technical losses incurred up to that point, while Bangladesh will cover the technical losses from Muzaffarpur to its border. As a result, the price of electricity will increase from 6.4 cents to 7.6 cents per unit by the time it reaches Bangladesh.

Bangladesh will receive electricity through the Brahmapur (India)–Bheramara (Bangladesh) 400 KV transmission line, which it currently uses to import electricity from NVVN.

The agreement, which is valid for five years, stipulates that 144m units of electricity will be exported to Bangladesh annually, Ghising stated. He also noted that around Rs 1.21trn worth of electricity will be exported to Bangladesh each year.

The export will begin after receiving the necessary permissions from India, making Nepal the first country to export electricity to a third country, according to Ghising.

He added that Nepal aims to export 10,000 MW of electricity to India and 5,000 MW to Bangladesh in the future.

The NEA plans to export electricity generated by the 25 MW Trishuli and 22 MW Chilime hydropower projects—both built with Indian subsidies and owned by the authority—to Bangladesh. Both projects have received approval for electricity export to India.

For the next five years, the authority will sell 40 MW to Bangladesh during the rainy season, from June 15 to Nov 15 each year.

Bangladesh had previously decided to import 40 MW from Nepal. On Dec 20 last year, the Economic Affairs Committee of Bangladesh’s Council of Ministers under then Finance Minister Mustafa Kamal approved BPDB’s proposal to import 40 MW.

NEA and BPDB agreed on the electricity rate in late February. A tripartite agreement was prepared in Kathmandu on July 13, but it was delayed due to political unrest in Bangladesh.

Landslides and floods resulting from days of monsoon rains have claimed at least 148 lives across Nepal even as rescue teams continue their search for dozens of missing individuals. Authorities reported recovery of bodies from vehicles buried under landslide debris near Kathmandu.

Clearer weather on Sunday allowed rescue teams to intensify search and rescue operations, although Kathmandu remains isolated, with major routes connecting the city with the rest of the country blocked by debris. Rescuers pulled 35 bodies from three buses buried under debris at a landslide site in Dhunibeshi municipality-9 (Dhading district), as workers continued to sift through the wreckage in search of survivors.

According to police, recent disasters have left 86 people injured while at least 59 people caught in disasters remain unaccounted for. The death toll is expected to rise with reports from remote areas, many of which remain cut off due to flooding and landslides, still awaited.

In southern Kathmandu, floodwaters have started to recede, allowing residents to clean their homes. The Kathmandu Valley has suffered significant losses, with at least 68 lives lost.

Rescue efforts have been bolstered by the involvement of both police and military personnel, who are using heavy machinery to clear the debris from roads and residential areas. In response to the widespread destruction, the government has ordered the closure of schools and colleges across Nepal for three days.

The annual monsoon, which enters Nepal in June and withdraws by mid-September (generally), often leads to destructive flooding and landslides, exacerbating the country’s challenges in coping with the natural disasters that frequently accompany the rainy season.

The Kathmandu Valley faced a devastating natural disaster over the weekend as an unprecedented 240 millimeters (9.4 inches) of rain fell within 24 hours leading up to Saturday morning—the heaviest rainfall recorded since at least 1970.

Flood-affected residents, most of them living near river banks, began returning to their mud-caked on Sunday to assess the damage. Rain-swollen rivers in Kathmandu Valley breached banks and several settlements, causing significant damage to properties. Many neighborhoods were waterlogged, requiring security personnel to conduct emergency rescue operations.  

Heavy rainfall has also damaged the roads and highways leading to the Kathmandu Valley isolating Kathmandu from the rest of Nepal. Over 3,000 personnel are involved in rescue efforts, utilizing bulldozers to clear debris-laden roads. Rafts and helicopters have been deployed to assist rescue teams to reach stranded survivors.

By Sunday morning, domestic flights resumed after severe weather conditions halted all air traffic from Friday evening, resulting in more than 150 flight cancellations. The situation remains critical as authorities continue their search for missing persons and work to provide relief to those affected by the catastrophic floods and landslides.

Rs 2.45bn loss in energy sector

The Ministry of Energy, Water Resources, and Irrigation has reported significant damage to the energy sector, estimating losses at around Rs 2.45bn due to recent floods and landslides. Energy Minister Deepak Khadka stated that floods and landslides have resulted in the suspension of 1,100 MW of electricity production. In addition to losses in power generation, damages to irrigation infrastructure are estimated at Rs 1.35bn. Kulman Ghising, the executive director of the Nepal Electricity Authority, confirmed that the Tamakoshi Hydropower Project has been shut down for three days. He warned that if the project remains closed for an extended period, it could lead to issues in load management.

Beyond the Tamakoshi Hydropower Project, damage has been reported in other critical areas, including two towers in the Kabeli Corridor. Furthermore, 200 MW of power production has been disrupted after the Tamakoshi River swept away the Khimti Tower, which is crucial for transmitting electricity to Kathmandu. The Ministry of Energy highlighted that an additional tower responsible for transmitting 800 MW of electricity in Tamakoshi is currently at risk.

Fifteen under-construction projects, collectively with a capacity of 1,000 MW, have also suffered significant damage. 

Young footballers killed

In a tragic incident, six teenage footballers lost their lives in a landslide in Sisneri, Indrasarowar Rural Municipality-3, while returning from training at the All Nepal Football Association (ANFA) Academy. The players, students of Shree Batsala Devi Secondary School, were caught in the landslide on Saturday.

Their bodies were airlifted to a hospital in Kathmandu by an army helicopter. The grieving families of the deceased are demanding clear information and a thorough investigation into the circumstances surrounding their death. They have stated they will not accept the bodies until they receive satisfactory answers from ANFA.

Koshi records second-biggest flood

The Saptakoshi region experienced its second-largest flood since the construction of the Koshi Barrage in 1962, with water flow reaching a staggering 661,005 cusecs on Sunday morning. This follows the record flood of 788,200 cusecs recorded on 5 Oct 1968.

As the water levels surged, authorities opened all 56 gates of the barrage to mitigate the risk of further flooding. By Sunday afternoon, the water began to recede, providing some relief to the area. Officials continue to monitor the situation closely, assessing the risks from high water levels.

Similarly, the dam gates of the Kulekhani Reservoir were briefly opened on Saturday morning after the reservoir exceeded its danger mark of 1,530 meters. The gates were closed after 12 hours when the water level decreased to 1,525meters.

All three hydropower projects at Kulekhani—Kulekhani 1, 2, and 3—are now operating at full capacity, generating a total of 106 MW of electricity. 

Nepali Army Lt Col dies

Lieutenant Colonel Milan KC of the Nepali Army lost his life in a landslide while attempting to rescue one of his friends in Sindhupalchok. According to Brigadier General Gaurav KC, spokesperson for the Army, Lt Col KC, who was stationed at the Nepali Military Academy in Kharipati, was visiting the area with friends.

The group was staying at the Sindhu Beach Resort in Sunkoshi Rural Municipality-4 when the landslide struck. Lt Col KC was reportedly trying to rescue a Korean friend when he got trapped in the debris. The condition of the Korean citizen remains unknown.

25 rescued from Sri Lanka island

A rescue operation successfully evacuated 25 people stranded on Sri Lanka Island in Barahakshetra Municipality-6, following flooding from the Saptakoshi River. The stranded individuals, mainly farmers tending to buffaloes, had been trapped since Friday due to rising water levels that rendered the area inaccessible.

Rescue efforts began on Saturday morning after the water flow in the Koshi River decreased. The stranded individuals were safely evacuated by boat, marking a successful end to the operation.

Over 161 people rescued via air

More than 161 people were successfully rescued by Nepali Army helicopters over the weekend, as swiftly moving flood waters hampered ground rescue operations. In Kavre alone, 83 individuals were evacuated and relocated to safety. Three helicopters were deployed for rescue efforts in the region.

The Army, at the request of the Ministry of Home Affairs, has been conducting air rescues to assist citizens at risk due to recent disasters. Similarly, 13 people were rescued in the Kathmandu Valley, 33 in Sindhuli, and 32 in Makwanpur.

All-party meeting prioritizes rescue efforts

An all-party meeting held on Sunday at the Prime Minister’s Office in Singhadurbar concluded with a commitment to prioritize search and rescue operations for victims of recent floods and landslides. The meeting emphasized the need for coordinated efforts among political parties, all levels of government, and the private sector in rescue, relief, and rehabilitation initiatives.

Government Spokesperson Prithvi Subba Gurung announced that the meeting called upon the private sector, citizens, and organizations to contribute to the Prime Minister's Disaster Relief Fund. The decision was made to facilitate the safe evacuation of stranded travelers affected by the disasters, with collaboration from the District Disaster Management Committee, the District Transport Association, and security personnel.

Additionally, the Ministry of Industry, Commerce and Supply will work with the private sector to ensure the provision of essential goods, including food, vegetables, fruits, and gas, at affordable prices. The meeting also agreed to assess the damage to infrastructure and the agricultural sector caused by the floods, including bridges, roads, schools, health posts, and electrical structures, to initiate necessary reconstruction efforts.

Leaders from various parties stressed the importance of continuing relief efforts in the aftermath of the disaster. Furthermore, the Ministry of Urban Development, in collaboration with the National Disaster Risk Reduction and Management Authority, will work on housing solutions for victims who lost their homes due to the floods and landslides.

On Monday, Prime Minister KP Sharma Oli met with Indian Prime Minister Narendra Modi during their respective visits to New York for the 79th session of the United Nations General Assembly (UNGA).

“The India-Nepal friendship is very robust, and we look forward to adding even more momentum to our ties. Our talks focused on issues such as energy, technology, and trade,” Modi said while sharing pictures with Oli on his X account.

Prime Minister Oli also met with the Crown Prince and Prime Minister of Kuwait, Sheikh Sabah Khaled Al-Hamad Al-Mubarak Al-Sabah, at Kuwait’s Permanent Mission to the United Nations. Both leaders discussed matters of mutual interest and explored ways to further strengthen ties between Nepal and Kuwait.

On Sunday, PM Oli delivered a compelling address at the “Summit of the Future” session at the UN headquarters in New York. Representing the Group of Least Developed Countries (LDCs), he highlighted the pressing global challenges facing LDCs, with a focus on poverty, industrialization, and climate justice.

In his speech, PM Oli emphasized the urgent need for industrialization and increased production to combat poverty, a shared challenge for LDCs. He noted that while these countries contribute minimally to global greenhouse gas emissions, they bear the brunt of climate change’s devastating impacts. He called on developed nations to increase their investment in climate financing, underscoring the need for global solidarity.

“Millions of children in LDCs go hungry every day, deprived of their basic rights to food and education,” PM Oli said, stressing that poverty is a significant barrier to a sustainable future for the world’s most vulnerable. He urged for concerted international efforts toward poverty alleviation and highlighted the moral imperative for wealthier nations to address growing inequality.

PM Oli also expressed concern over unmet commitments to Official Development Assistance (ODA), delayed international support, and rising debt distress in LDCs. He raised the issue of the digital divide, which continues to widen the gap between rich and poor countries, and criticized the global financial and trading systems for being fundamentally unfair to LDCs.

Despite these challenges, PM Oli spoke optimistically about the future, welcoming the adoption of the “Pact for the Future” as a blueprint for a peaceful, prosperous, and sustainable world. He called for a renewed commitment to multilateralism and stronger global governance structures that include LDCs in decision-making processes.

The Prime Minister concluded by urging global leaders to invest in productive capacities, sustainable development, and rural upliftment, advocating for meaningful partnerships to ensure equitable progress for all nations.

In addition to his discussions with Prime Minister Modi, Prime Minister Oli held a meeting with UN Secretary-General António Guterres on Sunday. During their conversation, Guterres expressed gratitude for Nepal’s vital contributions to UN peacekeeping operations. Nepal has long been recognized as a steadfast contributor of troops and police to UN missions, reflecting the country’s commitment to maintaining international peace and security.

The two leaders discussed several critical issues, including Nepal’s leadership role as Chair of the Global Coordination Bureau for Least Developed Countries (LDCs). Guterres highlighted the necessity of addressing climate change, particularly concerning mountain regions, which are especially vulnerable to environmental changes. The conversation also emphasized the importance of advancing Nepal’s transitional justice process, an issue of significant national importance.

In a post on X, Prime Minister Oli described the meeting as productive, focusing on essential topics such as transitional justice and climate justice. He expressed optimism about strengthening partnerships for a better future, highlighting Nepal’s commitment to social justice and sustainable development.

According to the Permanent Mission of Nepal to the UN, the discussions covered various aspects of Nepal-UN cooperation. Guterres commended Nepal for its unwavering dedication to the principles outlined in the UN Charter. He reiterated that addressing climate change is a top priority for the UN, particularly the urgent need to reduce greenhouse gas emissions and assist vulnerable mountain countries like Nepal. The Secretary-General emphasized that adequate climate finance is essential for developing countries, including LDCs, to effectively engage in both mitigation and adaptation efforts.

Prime Minister Oli informed Guterres about the recent enactment of Nepal’s transitional justice law, which adopts a victim-centric approach and aligns with guidance from the Supreme Court and international norms. He assured the Secretary-General of the government’s commitment to implementing this law smoothly to resolve transitional justice issues once and for all.

Furthermore, the Prime Minister highlighted the devastating impacts of climate change on Nepal, specifically mentioning the permafrost issues in Thame, Solukhumbu, that have arisen due to global warming. He stressed the urgency of addressing these challenges and indicated that Nepal would be convening the Sagarmatha Sambad—a dialogue platform focused on the mountain ecosystem—inviting Guterres to participate.

Oli also articulated Nepal’s ambition to graduate from the LDC category by 2026 and achieve the Sustainable Development Goals. He urged Guterres to advocate for enhanced development assistance from the international community to support this goal.

During their meeting, Prime Minister Oli reaffirmed Nepal’s commitment to maintaining international peace and security, as the country is the largest Troops and Police Contributing Country (TPCC) to UN peace missions. He appealed to Guterres for the appointment of high-level positions for Nepal both at the UN headquarters and in the field.

Guterres expressed deep concern over the accelerated melting of glaciers and the resultant damage, assuring Prime Minister Oli of his commitment to enhancing resources within the Loss and Damage Fund to support affected countries.

Prime Minister Oli was accompanied by several high-ranking officials, including Minister for Foreign Affairs Arzu Rana Deuba, Chief Advisor to the Prime Minister Bishnu Prasad Rimal, Foreign Secretary Sewa Lamsal, Permanent Representative of Nepal to the United Nations Lok Bahadur Thapa, and Joint-Secretary Amrit Bahadur Rai.

In addition to his meetings, Prime Minister Oli addressed the “Parliamentary Forum on Financing the Future: Aligning Finance with the Promise of the Paris Agreement” as the keynote speaker. In his address, he stressed the critical importance of phasing out fossil fuels to prevent catastrophic climatic disasters that are becoming more frequent and severe. He urged for increased investment in green and renewable energy technologies, advocating for a just transition to renewable energy and better access to climate funds for vulnerable countries.

Meanwhile, the United Nations High Representative for Least Developed Countries, Landlocked Developing Countries, and Small Island Developing States, Undersecretary-General Rabab Fatima, also paid a courtesy call on Prime Minister Oli. During their discussion, they exchanged views on the Nepal-UN partnership, the ongoing efforts to help Nepal graduate from the LDC category, and preparations for the upcoming Third International Conference on Landlocked Developing Countries (LLDC3).

Prime Minister Oli arrived in New York on Friday on a 10-day visit, marking his first foreign engagement since his reappointment as Prime Minister on July 15.

Minister for Home Affairs Ramesh Lekhak has ordered the immediate implementation of the Parliamentary Inquiry Committee’s report regarding the misappropriation of funds in cooperatives. On Sunday, Minister Lekhak instructed Inspector General of Nepal Police, Basant Bahadur Kunwar, to take action based on the report, which was recently sent to the relevant ministry for enforcement.

In a related development, former Deputy Inspector General (DIG) Chabilal Joshi has been arrested in connection with the cooperative fraud case. According to sources at the police headquarters, Joshi was apprehended in Kathmandu shortly after the minister’s directive.

Joshi, identified as a former director of Gorkha Media Network Pvt Ltd, was named in the report of the inquiry committee led by Surya Thapa, which recommended action against four individuals, including Joshi. The Parliamentary Special Committee to Investigate Cooperative Funds has pinpointed Joshi as a central figure in the fraudulent activities, alleging that he played a significant role in withdrawing funds from various cooperatives under the guise of loans.

The inquiry report reveals that Gorkha Media Network was established with half of its investment from GB Rai and Joshi. Following previous business partnerships, Joshi reportedly reduced his 15 percent share, transferring it to Rabi Lamichhane. He is accused of securing loans amounting to Rs 25m from the Supreme Cooperative of Butwal and Rs 10.86m from Sano Paila Cooperative in Birgunj to fund his investment in Gorkha Media. Subsequently, Joshi is said to have distanced himself from Gorkha Media due to disagreements.

The inquiry committee has recommended prosecuting Rai, Kumar Ramtel, Lamichhane and Joshi in accordance with existing laws.

Ramtel, who was a business partner of Rai in various ventures, was involved with cooperatives such as Suryadarshan in Pokhara and Sano Paila in Birgunj. He later served as a director of Gorkha Media Network.

During his statement to the committee, he claimed that an artificial loan was taken in his name to cover a loan for Lamichhane. After Lamichhane departed from Galaxy, the loans under his name in the cooperatives were transferred to other cooperative owners.

Joshi made a statement similar to Ramtel’s, asserting that he did not pay the amount when he purchased the shares and did not receive any funds upon selling them. He also revealed that when he went to Nepal Bank to secure a loan for Galaxy Television, Rai told him, “I have already managed it from elsewhere.”

Former Home Minister Lamichhane reiterated his claim during the committee meeting, stating that he was not involved in taking loans from the cooperatives.

The Professor Ted Riccardi Memorial Reading Room, housing an invaluable collection of rare books and research materials related to Nepal, was inaugurated at the Nepal Vocational Academy (NVA) in Kamalbinayak, Bhaktapur. The reading room is a tribute to Professor Ted Riccardi, a renowned American scholar from Columbia University who dedicated over 50 years to the study of Nepal’s rich history, culture, and language.

Riccardi, who passed away in 2020, was instrumental in bringing Nepali history and culture to a global audience. His contributions include translating ancient Nepali and Sanskrit texts. He conducted the only archaeological digs in Kathmandu Valley at Dumakhal and published his findings in the journal ‘Archaeological Excavation in the Kathmandu Valley’. His work in archaeology and his efforts to bridge Eastern and Western scholarship have left a lasting impact on both Nepali and international academia.

Riccardi’s personal library, accumulated over decades of research, contains rare and valuable texts on Nepal, South Asia, and beyond—many of which were previously inaccessible to Nepali scholars. His collection includes works in various languages, such as Devanagari (Nepali, Sanskrit, Hindi), English, German, French, and Italian. The library reflects Riccardi’s deep understanding of Nepali civilization, and his scholarly contributions range from translating inscriptions, such as the ancient Manadeva Inscription, to compiling the ‘Dictionary of the Newari Language with Glossary in Italian’.

Following his retirement from Columbia in 2003, Riccardi published two collections of Sherlock Holmes stories—‘The Oriental Casebook of Sherlock Holmes’ (2003) and ‘Between the Thames and the Tiber: The Further Adventures of Sherlock Holmes’ (2011)—where he creatively combined his knowledge of the Indian subcontinent with Western literature and history.

Bringing Riccardi’s collection to Nepal

Riccardi’s collection, previously housed in his residences in New Mexico and New York, has now found its home in Nepal, thanks to the efforts of his wife, Ellen Coon, and heritage expert Rabindra Puri. The US Embassy in Kathmandu played a significant role in the logistics of transferring the books. The reading room has been set up with the support of the Rabindra Puri Foundation for Conservation, aiming to make this library a hub for future scholars and researchers.

The collection includes over 5,000 books, many of which are rare or one-of-a-kind editions. These volumes, which offer deep insights into ancient Nepali society, the Himalayan region, and broader South Asian contexts, are now available to Nepali readers for the first time.

During the inauguration ceremony, Coon expressed her gratitude and excitement, stating, “This is my dream come true. I can’t feel a greater honor than seeing my late husband’s collection in this beautiful space. These books have come home.” She also highlighted Nepal’s heritage wealth, saying, “Nepal is not a poor country, as it has many heritage riches. Many heritage pieces were stolen from Nepal in the past, but now is the time to preserve them and bring them back.”

Puri, who spearheaded the project, acknowledged the collaborative efforts that made the reading room possible. “This is the seed today; it will grow into the biggest and most resourceful library in Nepal,” he said. Two rooms have been dedicated to the collection, with plans to expand as more scholars express interest in contributing their own works. Puri also noted that Bhaktapur, which once boasted Nepal’s largest library during the Malla period, is once again becoming a hub of knowledge.

US Ambassador to Nepal, Dean R Thompson, lauded the efforts to preserve Nepal’s cultural heritage and expressed pride in the US Embassy’s involvement. “This is a fantastic achievement, and I’d like to thank Garrett for his tireless efforts,” he said, referring to Garrett E Wilkerson, the Embassy’s Public Affairs Chief. Thompson emphasized the importance of cultural conservation and the US-Nepal collaboration, pledging continued support to ensure the preservation and accessibility of the library for future generations.

Wilkerson, in his farewell speech as his tenure came to an end, highlighted the challenges of transporting 5,000 books from New Mexico and New York to Nepal but expressed his satisfaction in seeing the project come to fruition. “Culture conservation is very important, not only for Nepal but for the world,” he remarked, reinforcing the library’s significance in fostering a deeper understanding of Nepal’s heritage.

A growing legacy

The Professor Ted Riccardi Memorial Reading Room is expected to grow in size and significance. Scholars from around the world have already contacted Coon, offering to contribute additional volumes to the collection. As the library expands, it is poised to become a key resource for both Nepali and international researchers, fostering a greater appreciation of Nepal’s history and its place in the broader South Asian context.

“This initiative is a significant step toward achieving Nepal’s cultural preservation goals, and it aligns with the broader mission of showcasing the nation’s rich heritage to the world,” said Puri. “With its doors now open, the reading room stands as a beacon of knowledge, offering future generations the tools to explore, understand, and cherish Nepal’s unique history.”

Jinoos Shariati is the First Secretary for Trade and Investment at the British High Commission in Delhi, India. She previously served as Director of Trade and Investment at the British Embassy in Doha, Qatar, and led the Technology and Smart City Investment division at the UK Department for International Trade, where she collaborated with global tech giants and investors to attract their investments to the UK.

Shariati was in Nepal recently to participate in the Nepal Infrastructure Summit. Pratik Ghimire of ApEx talked to her about infrastructure, investment in Nepal, and UK-Nepal collaboration. Excerpts:

How has your experience been at the Infrastructure Summit and what are your thoughts on the current state of UK-Nepal bilateral trade?

Though this is my second time in Nepal, it is my first time attending a summit here. I have been very impressed with the quality of the speakers and the depth of the discussions during the summit, particularly following the success of the Investment Summit. By the first quarter of 2024, bilateral trade between the UK and Nepal reached 287m pounds. The UK’s total exports to Nepal amounted to around 95m pounds, marking an increase of 5.6 percent, or 5m pounds, compared to the same period last year. UK imports from Nepal were even higher, at 192m pounds in the fourth quarter of 2023 and through the end of Q1 2024. However, we aim to increase this bilateral trade between the UK and Nepal, which is why we are here.

It was great to see a blend of both international and local speakers. I was particularly impressed by the participation of notable experts, such as the former Foreign Minister of the Philippines and a renowned expert from South Korea. They brought a wealth of experience in infrastructure development in their respective countries and shared valuable insights on how to apply best practices as Nepal continues to develop its infrastructure.

How does your team support UK companies in navigating the business landscape in Nepal?

We have a department for business and trade, with a team based in the embassy whose primary role is to promote Nepal and its business opportunities to UK companies. Part of their job is to highlight the positive messages coming out of Nepal, particularly from events like the Investment Summit and this infrastructure summit. They also promote projects in the pipeline to UK companies across various sectors, including energy, infrastructure, healthcare, and education. So, while we focus on infrastructure and energy, we are also covering other sectors. If Nepal is opening up new markets, we are eager to promote those opportunities to British companies.

Essentially, our department’s mission is to promote business opportunities to British companies interested in Nepal. We also promote investment opportunities in the UK and globally. Just as Nepal is working to attract foreign direct investment, we are doing the same for the UK. Additionally, we work on trade policy and address market access issues and trade barriers that affect UK companies doing business in Nepal. My team collaborates with colleagues across the embassies and Nepali authorities to resolve any market access challenges UK companies may face.

What factors do UK companies consider when looking for investment opportunities in Nepal?

UK companies are seeking investment opportunities where their investments are secure and offer a good return on investment. If they see that the business environment is friendly, the projects follow international best practices, and there is transparency, then naturally, we can attract UK companies. If Nepal can develop a strong pipeline of infrastructure projects that are bankable, well-funded, and aligned with international standards, I am confident that this will appeal to UK companies.

How can Nepal improve its competitive edge to attract foreign direct investment (FDI)?

There is a global competition for FDI, with countries around the world vying for it. It’s encouraging to see that Nepal is hosting business and infrastructure summits and addressing the challenges businesses face when entering the country. If the government works with the private sector to resolve these issues and encourages international companies to come to Nepal, it could attract more businesses to set up operations here. I believe there are significant opportunities for many companies to do business in Nepal, but it’s essential to create the right conditions for them to operate, such as improving the ease of doing business and facilitating the movement of resources into the country. The UK has extensive experience in attracting foreign direct investment, and we have examples that we can share with our colleagues in Nepal.

What are the challenges when trying to invest in Nepal?

Some challenges I hear from UK companies, particularly regarding infrastructure projects, involve a lack of accessible data. They are seeking information about the availability of data, whether it exists, and whether the project is well-funded. This information gap poses a challenge. Establishing a one-stop shop to provide this data and reduce costs would be very helpful for companies. Another issue is with pre-procurement processes, where procurement is not always entirely merit-based. If we can create a level playing field, I’m confident that UK companies would be more interested in investing in Nepal.

How do you plan to involve UK companies in the dialogue with Nepal?

There are already ongoing discussions with our colleagues from different teams within the embassy. We have existing programs in place for dialogue with Nepal, and through these dialogues, we also bring UK companies to Nepal. If there is interest from Nepal, I’m confident that we can bring in some of our experts. Additionally, I believe that my team and the wider embassy may organize a business summit in the first quarter of 2025. This summit would provide a platform for experts to come together and discuss both the challenges and opportunities.

The special parliamentary inquiry committee, formed to investigate the embezzlement of funds from financial cooperatives, has concluded that Rs 650m funneled into Gorkha Media Network was entirely sourced from cooperatives, and that the company shares were traded using forged documents. 

The committee has recommended prosecuting four individuals, including the then-Managing Director of Gorkha Media and former Home Minister, Rabi Lamichhane, in accordance with existing laws. Others recommended for prosecution include GB Rai, Kumar Ramtel, and Chhabi Lal Joshi.

The committee presented its report to the House of Representatives on Monday, outlining eight recommendations regarding the misappropriation of cooperative funds by Gorkha Media. The report revealed that five out of seven cooperatives operated by Rai and his group had transactions totaling Rs 2.56bn with Gorkha Media, of which Rs 650m was determined to be embezzled.

The committee found that the savings of 50,000 individuals from five cooperatives—Suryadarshan of Pokhara, Supreme of Butwal, Swarnalakshmi of Kathmandu, Sahara of Chitwan, and Sano Paila of Birgunj—were illegally transferred to fund Gorkha Media Network. Legal action has been recommended against the cooperative directors and all individuals involved in the decision-making process. Currently, Ramtel is in jail, and Rai is absconding.

The report emphasizes accountability for those involved, stating, “Every company has its own objective and spirit. Promoters and shareholders bear the main responsibilities. Those in the roles of shareholders, promoters, and managing directors cannot evade responsibility and accountability for the money received by the company.”

Lekhnath Dahal, a committee member, noted that funds from Suryadarshan and other cooperatives were transferred by Rai to Gorkha Media and were spent under Lamichhane's direction. Rai, the chairperson, and Lamichhane, the managing director, along with director Joshi, opened a joint account to handle the funds. During Lamichhane’s 14-month tenure as managing director of Gorkha Media Network, he signed all but one check. The committee also deemed Lamichhane’s 15 percent share in Gorkha Media as illegal.

The committee, which spent over three months compiling its findings, prepared a 2,000-page report following extensive interrogation, statements, research, and documentation. 

During the investigation, Lamichhane, a former Home Minister and chairperson of the Rastriya Swatantra Party (RSP), was interrogated for nine hours. He denied possessing or knowing the origin of the cooperative funds and claimed he should not be held responsible. He also asserted that he is not the Rabi Lamichhane who borrowed from the Suryadarshan and Supreme cooperatives.

RSP lawmaker Shishir Khanal, another committee member, indicated that while direct evidence of Lamichhane taking money from the cooperatives was not found, his involvement in spending those funds was clear. Khanal stated, “Lamichhane was MD, this is a fact. He has signed the checks in that capacity, so if signing the checks as MD creates legal liability, it should be borne.”

The report was unanimously approved by all committee members before being submitted to Parliament. Speaker Devraj Ghimire has instructed the government for necessary implementation of the report.

Formed by the House of Representatives on May 28, the committee was headed by CPN-UML lawmaker Surya Thapa, with members including Dilendra Prasad Badu from Nepali Congress (succeeded by Badri Prasad Pandey after Badu became a minister), Ishwari Neupane, Sabitra Bhusal from UML, Lekhnath Dahal from CPN (Maoist Center), Shishir Khanal from RSP, and Dhurba Bahadur Pradhan from Rastriya Prajatantra Party.

Committee Chair Thapa told Parliament on Monday that the cooperative sector is riddled with fraud, stating, “The cooperative sector is plagued by a multitude of fakes. Marriages, property sharing, and even debts are fabricated. Audit reports and working systems are falsified. General meetings and reports are manipulated. Shareholders and debtors, including public figures, have been falsely implicated.” He emphasized the need for all parties to address and resolve these issues within the cooperative sector.

Meanwhile, RSP Chairperson Lamichhane claimed that he was not involved in the case and that his party had dismissed the allegations against him. He said, “The time of the probe committee is over. If anyone has evidence against me, please bring it forward and explain it.”

Meanwhile, Prime Minister KP Sharma Oli informed the House of Representatives on Monday about his upcoming participation in the United Nations General Assembly. During the parliamentary meeting, Prime Minister Oli outlined the issues Nepal plans to raise at the assembly. The Nepali delegation, led by Prime Minister Oli, is scheduled to depart for the United States on Sept 20.

Monday’s parliamentary session resumed after the Maoist Center lifted its obstruction. Deputy Secretary General Shakti Bahadur Basnet, speaking on behalf of the Maoists, announced that the deadlock had been removed to advance key issues, including the Prime Minister’s foreign visit and the passage of important bills.

Basnet addressed the issue of the term ‘violence’, used by UML Secretary Yogesh Bhattarai in reference to Maoist insurgency during the Aug 28 meeting of the Parliament. Basnet criticized the term, stating, “We have taken the word ‘violence’ not as an unparliamentary term but as an insult to the sacrifices of the people. It is not merely a word but an attempt to undermine the entire process of Nepal’s revolution.” He also called for clarification on whether Bhattarai’s use of the term was a personal or party-related statement.

Basnet emphasized that labeling the Maoist armed rebellion as violence undermines the historical significance of political revolutions in Nepal. He questioned, “What about the Jhapa revolt? How do you label the 1951 revolution? Violence?”

The current session of Parliament has officially ended, with President Ram Chandra Poudel approving the recommendation of the Council of Ministers.

In his first address to the General Staff, newly appointed Chief of Army Staff (CoAS) Ashok Raj Sigdel emphasized the Nepali Army’s crucial role in safeguarding the nation’s sovereignty, unity and territorial integrity. Sigdel outlined his strategic vision with a strong focus on national security, military diplomacy, organizational reforms and the welfare of army personnel.

On Aug 28, President Ramchandra Paudel appointed Sigdel to the position, to be effective from Sept 9. The outgoing Chief of Army Staff, Prabhu Ram Sharma, had been on a month-long leave since Aug 8 as part of his mandatory retirement. Sigdel will serve as CoAS for the next three years.

Sigdel’s address followed the formal ceremony where President Paudel conferred the insignia of the CoAS on Sigdel on Sept 9, marking the official transfer of leadership in the Nepali Army.

Sigdel began by reaffirming the core responsibility of the Nepali Army as enshrined in the Constitution of Nepal—protecting the country’s independence, sovereignty and geographical integrity. He highlighted that national unity remains the most powerful force in tackling the complex challenges Nepal faces, and called for the state’s mechanisms to work in tandem under a shared national security strategy.

Sigdel introduced a ‘Commander-in-Chief Command Guidance’ outlining seven key goals to enhance the army’s operational and strategic effectiveness. These goals prioritize areas such as national security, organizational strengthening, development of operational capabilities, modernizing military information systems, improving training and education, and expanding welfare services.

He stressed the importance of a credible and effective national security strategy, grounded in a ‘Whole of Nation Approach’. This would require the strengthening of national mechanisms to ensure that all state actors—military and civilian alike—develop a common understanding of Nepal’s security and defense needs. Sigdel assured that this approach will be operationalized in due course to fortify the country’s defense apparatus.

One of the central themes of Sigdel’s address was the role of military diplomacy in advancing Nepal’s foreign policy. He emphasized that military diplomacy will be strengthened to support national interests and security, ensuring that the army’s international engagements align closely with the country’s foreign policy objectives. Sigdel’s vision involves deepening military cooperation with Nepal’s international partners, positioning the national army as a key player in regional and global peace and security efforts.

Additionally, Sigdel highlighted the army’s ongoing commitment to national infrastructure projects. The ‘Bunker to Barrack’ program, which seeks to modernize army infrastructure, will continue as a priority, alongside key projects like the Kathmandu-Tarai/Madhes Fast Track. Sigdel emphasized that delays or irregularities in these projects will not be tolerated, reaffirming the army’s dedication to efficient project management.

Sigdel also focused on internal reforms, stressing that organizational discipline and integrity are paramount. He urged army personnel to act in the best interest of the institution, warning that actions undermining mutual trust or compromising the institution for personal gain would not be tolerated. The CoAS reiterated that military discipline and dignity remain the ‘first and last mantra’ of the army.

To ensure the army’s operational readiness, Sigdel announced plans to modernize military training and education, with a focus on practical skills suited to Nepal’s geography and strategic needs. This includes timely revisions of military training programs to enhance both tactical and leadership skills.

Sigdel unveiled several welfare initiatives aimed at improving the lives of army personnel and their families. The amount of scholarships provided to the children of Nepali Army personnel will be increased to Rs 25,000 annually for those studying from class 4 to 12. Additionally, the welfare pension for widows receiving family pensions will see an increase of Rs 500 per month.

Recognizing the Nepali Army’s vital role in disaster management, Sigdel stressed that the army’s disaster response capacity will be expanded to mitigate the impacts of natural calamities. He called for heightened preparedness, ensuring the army’s quick and effective response during national emergencies.

In a bid to support army personnel after retirement, Sigdel announced plans to expand professional and vocational training programs, in partnership with government agencies, to ensure retired personnel can transition into civilian life with dignity and self-respect.

Sigdel said the Nepali Army will continue its significant contributions to the development of national sports. Sports development will be prioritized by building on the army’s long history of nurturing national athletes, he maintained.

Moreover, to strengthen the relationship between the army and the public, Sigdel outlined a plan to engage in efforts to protect education, health, arts, culture and the environment. This will be done in a way that preserves military dignity while contributing to the nation’s social and cultural fabric.

The new CoAS underscored the need for improved management of peacekeeping operations, ensuring that Nepali soldiers maintain their reputation as disciplined and effective peacekeepers on the global stage. Special attention will be given to the training of peacekeeping forces and the provision of necessary equipment.

In his concluding remarks, Sigdel pledged to improve relations between the army and the media. He emphasized the need for greater harmony between the two to achieve national objectives, ensuring that the public is kept informed about the army’s efforts in protecting national security and contributing to national development.

Know your CoAS

Commander-in-Chief Ashok Raj Sigdel was born on 1 Feb 1967, in Bhairawa of Rupandehi district. He joined the military service in 1986 and, after completing basic officer cadet training, was appointed a Second Lieutenant in 1988. Sigdel has participated in various training, studies and seminars at home and abroad. He completed command and staff training from the Military Command and Staff College, Shivpuri, and higher command and management training from the Nepali Army War College, Nagarkot. Additionally, he has successfully completed the Defense Management Course from India and the National Defense Course (NDC) from China.

Sigdel has participated in peacekeeping missions in Yugoslavia (UNPROFOR), Tajikistan (UNMOT), and Liberia (UNMIL). Throughout his 38-year military career, he has served in several staff, command and teaching roles, including as coordinator of the Nepali Army in the Covid-19 Crisis Management Center (CCMC). Prior to his appointment as CoAS, Sigdel served as Vice CoAS and Assistant CoAS. He holds a master’s degree in strategic studies from Tribhuvan University and the National Defense University, China.

Key priorities

• ‘Commander-in-Chief Command Guidance’ with seven goals, including strengthening national security, improving organizational effectiveness and modernizing military systems
• Enhancing military diplomacy to support Nepal’s foreign policy and align international engagements with national security interests
• ‘Bunker to Barrack’ program and efficient management of key projects like the Kathmandu-Tarai/Madhes Fast Track
• Greater organizational discipline and integrity, with a focus on upholding military dignity and preventing actions that undermine institutional trust
• Increased scholarships for army personnel’s children and higher pensions for widows. Plans to expand disaster management and professional training for retired personnel