Nepal experienced a series of significant political, economic, and social developments on Wednesday, as the government took steps to fill major institutional posts, the stock market continued its decline, and pressing social and environmental issues dominated public discourse.
Government Finalizes Transitional Justice Appointments
In a decisive move, the Council of Ministers finalized the formation of two key bodies central to Nepal’s transitional justice process: the Truth and Reconciliation Commission (TRC) and the Commission on Investigation of Enforced Disappeared Persons (CIEDP). Mahesh Thapa has been appointed chairperson of the TRC, while Liladevi Gadtaula will lead the CIEDP.
The Cabinet also appointed Posh Raj Pandey to the Recommendation Committee responsible for nominating the next Governor of the Nepal Rastra Bank. Pandey replaces Bishwo Paudel, who resigned earlier this month. In addition, the government approved the land acquisition process for the Gautam Buddha International Airport (GBIA) expansion project.
Amid these administrative shifts, President Ramchandra Paudel emphasized the urgent need for improved economic discipline and public accountability, referencing the alarming rise in government arrears. According to the latest report from the Office of the Auditor General, total outstanding arrears reached NPR 1.284 trillion, including NPR 91.59 billion from the last fiscal year alone.
Prime Minister KP Sharma Oli echoed these concerns, warning that the national treasury is currently depleted, making it difficult for the government to announce or fund new development projects.
NEPSE Declines Again as SEBON Moves Toward Reform
On the economic front, the Nepal Stock Exchange (NEPSE) index dropped for the fourth consecutive day, declining by 13.96 points to close at 2,620. Daily trading volume also fell to NPR 8.73 billion, down from NPR 9.63 billion the previous day. Despite the downturn, the “Others” and Development Bank sectors posted minor gains.
In response to prolonged stagnation in the capital market, the Securities Board of Nepal (SEBON) announced a fast-track system to expedite Initial Public Offering (IPO) approvals. Under the new initiative, SEBON will require sales managers to submit regular progress updates and ensure greater transparency. All listed companies have also been directed to update their financial disclosures on the NEPSE website.
SEBON Chairman Santosh Narayan Shrestha is reportedly under increasing scrutiny just six months into his tenure. Despite the pressure, the board approved the issuance of the country’s first-ever Green Bond. The Nepal Infrastructure Bank (NIFRA) will launch a NPR 5 billion NIFRA Energy Bond aimed at financing clean energy projects.
Other financial highlights include a 6.25% profit growth by Himalayan Reinsurance, NPR 337.5 million in profits reported by Taragaon Regency (operator of Hyatt Hotel Kathmandu), and a 15% dividend declaration by National Life Insurance. Meanwhile, the Nepal Insurance Authority has called on insurers to strengthen trust in the sector by addressing consumer grievances.
The Nepal Electricity Authority (NEA) also revealed plans to sign Power Purchase Agreements (PPAs) for hydropower projects totaling 5,000 megawatts in capacity. On the commodities front, the price of gold increased by NPR 500 per tola, while silver prices dropped by NPR 10.
Social Concerns: Migration, Protests, and Public Safety
On the social front, tragedy struck in Pokhara when an electric microbus accident in Lameahal claimed the lives of three passengers. The incident has reignited debate around road safety, which a recent World Health Organization (WHO) report described as “dire.” The report called for urgent implementation of national strategies and road safety action plans.
In the international labor arena, Chief Whip of the CPN (UML) urged the government to act swiftly in rescuing 469 Nepali workers stranded in Saudi Arabia after their employer shut down operations.
Domestically, over 39 conflict-affected organizations submitted an open letter to Prime Minister Oli, criticizing the opaque selection process for members of the transitional justice commissions. The letter argued that the recent appointments were not in line with the needs of victims.
Meanwhile, tensions continue in the education sector. Relief Quota Teachers have formed a new national committee demanding inclusion in the Social Security Fund, expressing dissatisfaction with a recent government agreement with the Teachers’ Federation. The Ministry of Education has instructed schools to compensate for lost instructional time due to the teacher protests.
Environmental concerns are also mounting, with reports warning of severe pollution in major rivers like the Bagmati and Kali Gandaki. Experts are calling for comprehensive reforms to address the impact of unchecked urbanization and a widening digital divide in the workforce.
Nepal Gears Up for Global Dialogue on Climate Change
Preparations are in the final stages for the Sagarmatha Dialogue 2025, a major international event set to bring together 175 foreign delegates. According to Foreign Minister Dr. Arzu Rana Deuba, the summit will focus on climate change, mountain sustainability, and the future of humanity.
The dialogue is expected to emphasize Nepal’s commitment to global climate action, while underscoring the environmental vulnerabilities faced by mountainous countries.
You may also like:
As the sun rises over Kathmandu on this final day of March 2025, Nepal finds itself at a crossroads, grappling Read more
Nepal finds itself at a crossroads of progress and unrest. Just yesterday, April 1, India and Nepal solidified their partnership Read more
Nepal has been at the center of significant events since the start of April, ranging from natural challenges to high-profile Read more
Welcome to our weekly roundup of news from Nepal, where we dive into the stories that shaped the nation over Read more
