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Pragya Ratna Shakya, 39, is the Chief Operating Officer (COO) at NIC Asia Capital Limited. He has over 14 years of experience in realty, stock brokering, management consulting, and investment management. Before his current role, he spent seven years at Siddhartha Capital Limited, overseeing business development, marketing, and operations. He is an expert in mutual fund management, portfolio management, and corporate advisory. Shakya talked to Babita Shrestha from ApEx about how one can achieve financial freedom.

What is the key factor you should consider to maximize financial growth? 

Saving and investing are important. Saving money involves storing it securely for future needs, with a low risk of losing its value. On the other hand, investing comes with risks but also the potential for higher returns. Investments generally have long-term goals, such as for a child’s education, planning for one’s retirement, or future unforeseeable needs. So, if you’re aiming to maximize financial growth, you should prioritize financial education and learn about savings and investments.

Could you brief us about the available saving and investment options in Nepal?

In Nepal, the most common options for savings and investments often involve utilizing Banks and Financial Institutions (BFIs) through fixed deposits or savings accounts. Though they offer modest returns, these might not provide returns that effectively combat inflation. Besides that, investment in stocks and mutual funds can be another viable option. Yet, compared to developed nations, Nepal currently lacks innovative financial instruments. To curb purchasing power loss, you may consider alternative investment areas available such as public equities, private equity/venture capital, debt instruments, private real estate, mutual funds, endowment insurance, and bullions.

What are some financial challenges that youngsters face and how can they be addressed?

In Nepal, approximately two-thirds of the population are in school, or college, or are planning to enter the workforce, which means they might not have disposable income for investments. The fundamental challenge is financial literacy and awareness. Another significant challenge is finding and selecting beneficial investment areas due to limited investment avenues as well as a lack of idea of diversification. To address these challenges, it’s important to prioritize budgeting, establish an emergency fund for financial security, adopt a diverse investment approach, stay informed about financial trends, and seek professional advice for better financial decision-making.

In the context of Nepal, what are the accessible and beginner-friendly stock market investment options that youth can consider for their initial financial ventures?

If you want to start your investment journey, Initial Public Offering (IPO) and Mutual Funds investments could be the safest options. Both investments can be started at as low as Rs 1000. All you need are a bank account, a demat account, and a Meroshare account.

If you want long-term financial growth, you need to understand the significance of mutual funds. These funds represent a collective investment from numerous investors, guided by strict regulations from the Securities Board of Nepal (SEBON) and the fund’s specific mandate. Investing in mutual funds offers benefits like high liquidity, diversification, tax exemptions in mutual fund income, stable dividend income, risk management, professional management, transparent investments, and independent audits of each scheme.

Could you give us an example of one potential scheme youngsters can invest in?

Many banks provide different services. For instance, NIC Asia Capital has recently introduced fund management schemes like NIC Asia Growth Fund-2 (NICGF-2) with the theme of ‘Ahile Lagani Nagarey, Kahile Garnrey?’ where you can apply with amounts ranging from as low as Rs 1000. Your fund will be managed by best-in-class professionals with experiences in both national and international capital markets. It’s safe to say that young investors can just start their investment journey from such mutual fund investments.

Is there any financial advice you would like to give? 

For young individuals in Nepal, a balanced approach to investment and saving is crucial. Always have a proper budget and plan for your funds from an early age. If you don’t have a big sum of money to invest, you can always start small. But start early, invest regularly, and for the long term. Know your risks and return objectives while implementing a diversification strategy in your investment portfolio, and periodically review and rebalance it. Since fluctuations in the market are part of the investment journey, you need to maintain a long-term perspective.

Founded 15 years ago with an unwavering commitment to the welfare of stray animals in Nepal, Oxsa Nepal has emerged as a compassionate non-profit organization dedicated to providing food, shelter, and healthcare to the vulnerable canines of Jwagal, Lalitpur. Beyond its vital street interventions, Oxsa Nepal has transformed its home into a haven for over 50 dogs, cats, and birds, offering a sanctuary for these voiceless creatures. At the heart of this altruistic endeavor is Raina Byanjankar, the founder of Oxsa Nepal, who inherited a legacy of compassion from her parents. Byanjankar spoke to Evana Manandhar from ApEx about the state of animal welfare in Nepal. 

Can you shed light on the state of animal welfare in Nepal?

The state of animal welfare in our country is influenced by a combination of cultural attitudes, government policies, enforcement of animal protection laws, economic conditions, and the active participation of non-governmental organizations (NGOs) dedicated to animal welfare. Cultural beliefs and practices shape how animals are perceived and treated, impacting the level of care they receive. Government policies, including the existence and effectiveness of animal welfare regulations, set the foundation for ethical treatment. The enforcement of these laws is crucial, ensuring that they translate into tangible protection for animals.

Economic conditions play a role, as the availability of resources affects the ability to invest in and prioritize animal welfare initiatives. The presence and effectiveness of NGOs are pivotal, as they often act as advocates, educators, and implementers of initiatives that contribute to improved animal welfare. In essence, achieving a positive state of animal welfare necessitates a holistic approach, addressing these interconnected factors through collaboration between government entities, NGOs, and the wider community. 

What makes working in the animal welfare sector challenging in Nepal?

There is a lack of strict animal welfare laws, making animals vulnerable to mistreatment. Strengthening and rigorously enforcing comprehensive legislation is imperative. Traditional practices, deeply ingrained in the culture, don’t necessarily align with modern animal welfare standards, necessitating a delicate balance between cultural preservation and humane treatment. 

Inadequate enforcement of existing laws worsens the problems, emphasizing the need for improved mechanisms and training for law enforcement personnel. In rural areas, where agriculture and animal husbandry prevail, there are challenges such as insufficient veterinary care and shelter for livestock. Solutions lie in promoting sustainable and humane farming practices, coupled with educational initiatives and enhanced veterinary services. Wildlife, rich in biodiversity, faces threats from habitat loss and poaching, necessitating robust conservation efforts. Moreover, animals in Nepal are susceptible to the impacts of natural disasters. Disaster preparedness plans must include provisions for animal evacuation and care.

Are there specific laws that address the rights of animals in the country?

Nepal has several laws addressing the protection and rights of animals. These include the Animal Slaughterhouse and Meat Inspection Act, focusing on regulating slaughterhouses and ensuring meat inspection, including provisions for the humane treatment of animals during slaughter. The Transport of Animals and Birds Act governs the transportation of animals, covering aspects such as adequate space and proper handling. The National Parks and Wildlife Conservation Act is specific to the protection of wildlife and conservation of natural habitats, including regulations against hunting and poaching. There are quite a few laws outlining the general principles for the humane treatment of animals but the effectiveness of these laws depends on factors like enforcement mechanisms and public awareness.

How can the public be made aware of the importance of animal welfare and rights?

Educational strategies play a pivotal role in making the public aware of the significance of animal welfare and rights. One effective approach involves integrating animal welfare topics into the school curriculum. Public awareness campaigns by utilizing diverse media platforms to disseminate information, dispel myths, and encourage responsible behavior towards animals are also important.

Workshops, seminars, and community outreach programs can provide direct interaction and address local concerns, fostering a deeper understanding of ethical animal treatment. Online resources, webinars, and partnerships with educational institutions can broaden the reach of educational initiatives. Animal-assisted therapy programs offer practical demonstrations of the positive impact of human-animal interactions.

What are some of the ways in which people can support or contribute to the animal rights movement?

Financial support for reputable local animal welfare organizations is crucial, providing essential resources for rescue operations, medical care, and advocacy efforts. Supporting well-established international organizations that work globally or specifically in Nepal amplifies the reach of contributions. Raising awareness through social media platforms and other communication channels can shed light on specific animal welfare issues.

Advocacy for legal reforms and participation in campaigns for stronger animal welfare laws are essential for sustained change. Collaboration with local organizations, offering skills or expertise, and exploring remote volunteering opportunities can provide valuable assistance. You can also support educational initiatives that promote responsible behavior towards animals or collaborate with veterinarians or veterinary organizations. There will be plenty that you can do. You can play a vital role in advancing the cause of animal rights in Nepal by leveraging your resources, networks, and influence.

Santosh Kafle, a computer engineer by profession, is a member of Rastriya Swatantra Party (RSP)’s Bagmati province chapter. He also heads the Corruption Prevention and Good Governance Department of the chapter. Pratik Ghimire of ApEx caught up with Kafle to know about RSP’s recent engagements and the party’s thoughts on recent political developments. Excerpts:

What is RSP’s ‘Mission84’?

Due to the persistent incompetence of major political parties, Nepalis became increasingly fed up and frustrated, leading to the emergence of RSP. With the formation of RSP, people finally had an alternative in the elections, offering hope for improvement.

As a newly established party, we appreciate the seats we’ve secured in the parliament. However, these are insufficient to adequately address the issues facing our people, as we lack the ability to independently form a government. We are now eagerly anticipating the upcoming general elections scheduled for 2084 BS, aiming to secure a majority and govern independently. Our focused efforts in preparation for this event are encapsulated in what we call ‘Mission84’.

What is going on with the general convention of the party?

We are actively engaged in building the party organization. Typically, for a party’s general convention, the process involves the election of members from wards, followed by municipalities and the central committee. However, as a new party, we took a different approach by initially forming the central committee and subsequently initiating the formation of lower committees. With the exception of a few ward committees, almost all the groundwork for the party's organizational structure has been completed.

Within this month, we will commence the process of the general convention by electing members from local committees, gradually culminating in the election of the central committee. This approach mirrors a bottom-up methodology. The entire process of the general convention is projected to conclude by July 2024, by which time the party will have elected its leadership.

Does the party take itself as an alternative force?

If one considers the current political parties as the mainstream force, then indeed, we are an alternative force, representing an alternative to the existing parties. People have increasingly viewed us as a viable alternative to the established parties. However, despite being perceived as an alternative force, we’ve already gained considerable traction as a mainstream party, holding the position as the fourth-largest force in the national parliament. Following the successful execution of ‘Mission84’, we anticipate ascending to the status of a major mainstream party.

How often do central leaders of your party engage with local-level leaders and the public?

Every member of our party, along with local leaders, holds a key to access the office of our party president, ensuring constant accessibility. Our party president and other central leaders consistently remain available and approachable. We conduct regular training programs for local leaders, with the active participation of central leaders, fostering an environment to cultivate competent leaders. The central leadership maintains an optimistic outlook regarding the development of capable leaders within our ranks.

Recently, RSP organized ‘Door-to-door’ and ‘Thank you’ programs, part of our ongoing engagement with the public. Such initiatives are integral to our commitment to staying connected with the commoners. These programs also serve as reminders of our grassroots connections. Nepalis place significant hope in us, and we remain committed to standing by their side, understanding their needs, and continuing this unwavering support.

RSP stands steadfastly available whenever Nepalis require our assistance. We aim to be with them in their joys and sorrows, contributing to restoring their hope for progress and development. While some may currently support us due to their dissatisfaction with other parties, we are determined not to engage in sentiment-based politics. Our focus is on demonstrating our capabilities and working earnestly for the people.

Despite some perceiving our public engagements as mere publicity stunts, we prioritize being present among the people and addressing their concerns. If this engagement is considered a stunt, we gladly accept that label, intending to continue these efforts. We encourage other parties to adopt similar approaches for the benefit of the public.

Our lawmakers maintain strong connections with the public and local leaders. They frequently engage with us, seeking suggestions and input. They actively liaise with the people, conduct research on their problems and advocate for their issues in the parliament. The presence of our lawmakers has notably shifted parliamentary practices toward a more fact-based approach in recent times.

Where do you find RSP in the clash between Republicans and Royalists?

The recent conflict, in my view, isn’t primarily about the Republicans versus the Royalists. It appears to be more centered on a dispute between CPN-UML and the Royalists, specifically involving Mahesh Basnet and Durga Prasai. Our party president Rabi Lamichhane has explicitly stated that RSP stands for the resolution of issues affecting the people. Therefore, our party aligns with Prasai’s stance on matters concerning the people’s concerns. Whether it’s individuals associated with UML, Nepali Congress or CPN (Maoist Center), we support those who raise people's issues. As for Prasai's political affiliations, we remain indifferent.

RSP’s ideology is rooted in constitutional socialism, signifying our unwavering support for the constitution of Nepal. We do not stand against Nepal’s constitutional framework or its system.

Toni Hagen needs no introduction, given his huge contribution to Nepal. In the 1950s and '60s, first as a Swiss development officer and later as a United Nations expert, he trekked through a largely uncharted country and introduced it to the world. He was an acute observer and sympathetic critic of the process of modernization and change in Nepal. His legacy is being continued by his daughter Dr Katrin Hagen through the Toni Hagen Foundation and other initiatives. She talks with Kamal Dev Bhattarai of ApEx about Nepal and Nepali society.    

Please tell us about your first visit to Nepal.

When I first came to Nepal, I was very small and it was 1953 so I remember very few things. What I remember is because I have seen the photos and I was told many things by my father.

Kathmandu at that time was totally different. There was no road connection with India, there was a flight three times a week. Soon the airport was built in Pokhara and sometimes we used to go there. At that time, in Pokhara, there were no hotels, nothing, only the old villages.

How many times have you been to Nepal?

The first time I came was in 1953 and the second time I came in 1962 when my father was in charge of Tibetan refugees again I came in 1975 for the trekking and since I have been coming to Nepal regularly, maybe more than 40 times. In the last 20 years, I came to Nepal two times a year except there was the Covid-19 pandemic.

What is your observation about Nepal that was in the 1970s and now?

Obviously, there is a big difference. In this period, Nepal’s forest is growing. At that time, forests used to belong to the government so everybody wanted to chop down trees and they did not care about the forest.  As soon as it was handed to the community forest, then they took care of it and the areas of the forest increased. When you see the photos of Shivapuri taken in 1960 and current photos, you can see more trees.

What is your overall impression about Nepal?

There are many problems here but there are many good things as well. You always compare Nepal with Switzerland and have some similarities as well.  Nepal is four times bigger than Switzerland, its  population is four times bigger, and the percentage of cultivable land and land that is not possible to cultivate is around the same percentage. About politics, I do not speak, it is very unstable but it is not only in Nepal. Politicians around the world look for power and money. There are many non-governmental organizations and many Nepalis who want to do something and there are people who are doing something for Nepal. One thing that I still admire very much is Nepal is unique, you have press freedom and you can say what you want.  There is diversity, different religions go together and do not fight each other. I hope it will not be influenced by India where Hindus have started fighting against Muslims. My father used to talk about Nepal’s multi-ethnicity and religion.

What are the major challenges in Nepal’s mountain area?

This spring, I was in Dailekh and then I visited Jumla.  Of course, the road there was very bad. One thing I said and which my father used to say is that road building is okay because you can bring your products to the big towns, but it is not good if it is only used to bring Chinese and Indian goods in the valleys. There is no development for you.  In the market, I see very nice apples in plastic which are from China and are not good for the environment. There are many projects to bring apples from Jumla to Kathmandu and other markets but people do not buy them because they do not look nice. My father, always, used to say farmers should be provided the proper price of their products so that they can survive.

What is your view on social inclusion and gender equality in Nepal?

We have to invest more on women's projects in farming. In the rural areas, women are working in the fields and men are in the Arab countries. We have to strengthen them even more.

What are the Toni Hagen Foundation’s major areas of work in Nepal?

We have two projects. One is related to a medical project where we support mostly orthopedic medical camps all over the place. For this, I have visited many remote places and villages in Nepal.  Through the Toni Hagen Foundation, we want to provide knowledge to the underprivileged group about democracy and what it means for them. Even now, we are trying to do something in the youth Parliament to ensure that the youths are more involved in politics. Besides these, of course, my father’s main speech was “Now we all have experts but no farmers who can speak about farmers.” Now, the excessive use of fertilizer is damaging the soil and now there is climate change. What I heard already from different projects is that farmers are not getting water at the right time, and there are more landslides.

How do you evaluate Nepal’s democracy?

On paper, it is very good.  You have press freedom which is one of the most important things in Nepal.

Is Nepal’s democracy strong?

I am not a politician. I do not want to be involved in Nepal’s internal politics. Compared to other countries in the region, Nepal is very good at democracy. Compared to democracy in Switzerland, and Germany, Nepal’s democracy is medium.

What were the dreams of Toni Hagen about Nepal?

One of the things that my father adored was that Nepal is a multicultural country. Nepal’s multi-religion, multicultural and multi-ethnicity is one of the unique things in Nepal. He was very much concerned about the Hindu king, the Hindu religion which means one religion is more important. But he was of the view that all religions should be treated equally. We do provide support for the protection and promotion of all religions and ethnicities to create awareness. This is unique in the world and you should keep it, not destroy it like in India now. There should not be domination of a single religion like in India. Of course, there is one language i.e. Nepali but other languages should be protected too.