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The Nepal Stock Exchange (NEPSE) plunged by 39. 26 points to close at 2,049.44 points on Wednesday. Similarly, the sensitive index dropped by 5. 89 points to close at 382. 74 points. A total of 8,092,969-unit shares of 277 companies were traded for Rs 3. 07 billion. Meanwhile, City Hotel Limited and Rawa Energy Development Limited were the top gainers today with their price surging by 9. 99 percent. Likewise, BPW Laghubitta Bittiya Sanstha Limited and Modi Energy Limited were the top losers with their price dropping by 10. 00 percent. At the end of the day, the total market capitalization stood at Rs 3. 00 trillion.

The main opposition CPN-UML has demanded the resignation of Prime Minister Pushpa Kamal Dahal. UML lawmaker Raghuji Pant warned that they would not allow the House to proceed with its business until the prime minister tendered his resignation. While launching a book of sardar Pritam Singh, Prime Minister Dahal had said that Singh visited India time and again while he was the prime minister and also helped him to become the head of the government. The UML said that the prime minister’s statement was against the sovereignty of the country. “Dahal’s statement has hurt the sentiment and self-respect of Nepalis,” lawmaker Pant said. He said that the Prime Minister cannot be greater than the dignity of the nation. Pant said that they would not let the House proceed with its business until Dahal resigned as prime minister. Along with the UML, Rastriya Swatantra Party and Rastriya Prajatantra Party lawmakers also gheraoed the rostam when Speaker Dev Raj Ghimire tried to proceed with the House business. Following the obstruction, Speaker Ghimire adjourned the meeting for half-an-hour. Earlier also, the Parliament meeting could not be held after the UML sought answers from the prime minister. The meeting of the National Assembly has also been postponed due to the obstruction of the main opposition party.    

With the majority of legislation related to the anti-money laundering regime still pending in the parliament, Nepal will have a tough time facing the plenary of the Financial Action Task Force (FATF) which will begin from July 9-14 in Vancouver, Canada. While Nepal Rastra Bank Governor Maha Prasad Adhikari-led Nepali delegation will defend the country during the plenary, chances are high that Nepal could again fall into the gray list of the FATF, a global anti-money laundering watchdog. The Adhikari-led Nepali delegation has to satisfy the FATF board about the progress and improvements made to strengthen the AML regime if the country wants to avoid the greylisting. The Nepali delegation comprises Prime Minister’s Office Secretary Udayaraj Sapkota, Law Secretary Dhanraj Gyawali, NRB Executive Director Dev Kumar Dhakal, and NRB’s Financial Information Unit Chief Dirgha Rawal. The delegation will also have senior officials from the Finance Ministry, Office of the Attorney General, CIB of Nepal Police, Department of Money Laundering Investigation, Securities Board of Nepal, and Insurance Authority of Nepal. A senior official at the Finance Ministry said that Nepal will present the progress made in the AML regime to date. “The central bank has taken action against banks not complying with AML and the Securities Board has also initiated action against the insider trading in the capital market,” he said. However, government officials admit that the deficiencies pointed out by the APG have not been addressed. “We have even failed to amend the legislation. Now, the only option is to persuade the FATF board by promising the law amendment,” he said. According to a senior NRB official, around 80 percent of deficiencies pointed out by the APG with regard to the legislation would have been addressed, had the parliament passed the bill. “The failure to endorse the bill from the parliament could prove costly for us,” he said. The Asia Pacific Group (APG) on Money Laundering team that visited Nepal twice in the last six months had pointed out several deficiencies of Nepal to comply with the standards on anti-money laundering and counter-terrorist financing (AML/CFT). The APG team made a field visit to Nepal in December 2022 as a part of the mutual evaluation of Nepal’s compliance. During the Nepal visit, the APG team held discussions with regulating agencies including NRB, the Nepal Insurance Authority, and the Securities Board of Nepal along with private sector representatives. The APG report prepared after the visit stated that the biggest weakness of Nepal is the enforcement of the laws. The report has shown deficiencies in taking legal action against big fishes of corruption and other illegal activities. It has also shown weakness in taking against reporting entities that are failing to comply with anti-money laundering measures. With the risk of Nepal finding a place on the ‘gray list’ of the Financial Action Task Force (FATF), the government in February first week had already decided to expedite the endorsement of amendment bills related to anti-money laundering (AML). The government sought to amend those laws through Some Nepal Acts Amendment processes and the Ministry of Law, Justice, and Parliamentary Affairs registered the Bill for the purpose. However, the parliament is yet to endorse the bill. A majority of the 19 laws in the group are meant to address deficiencies in compliance with the FATF’s anti-money laundering and terrorist financing standards. Some of the major laws that need amendment are the Money Laundering Prevention Act 2008, Land Revenue Act 1978, Tourism Act 1978, Securities Act 2007, Human Trafficking and Transportation (Control) Act 2008, Confiscation of Criminal Proceeds Act 2014, Mutual Legal Assistance Act 2014, Organized Crimes Prevention Act 2014, Criminal (Code) Act 2017 and Cooperatives Act 2017. Nepal is currently under pressure from FAFT and international lenders like the International Monetary Fund (IMF) to enact a number of laws to address the deficiencies to comply with the standards on AML and counter-terrorism financing (CFT). The ‘gray list’ is used to denote a group of countries/jurisdictions with “strategic deficiencies” in their regime to counter money laundering and terror financing. Once listed as ‘jurisdiction under increased monitoring’ by the FATF, they must develop an action plan within a specific period. A country on the gray list is not subject to sanctions. However, the gray list signals to the international banking system that there could be enhanced transactional risks from doing business with the said country. Nepal was on the FAFT's ‘gray list’ from 2008-2014. After a series of progress made on the AML/CFT regime that includes an amendment to the Anti-Money Laundering Act 2008, and the enactment of other laws, the FATF finally removed Nepal from the list in 2014.

The Chitwan National Park (CNP) on Wednesday made public three persons arrested for killing two rhinos inside the park. They were paraded amid a press conference here today. Two others are on the run, said the CNP. The three—Hom Bahadur BK, Krishna Bahadur Mahato and Shikharam Tharu, all of Dharampur of Ramgram Municipality-18 in Nawalparasi district were arrested red-handed selling rhino horns, said the CNP Chief Conservation Officer Dil Bahadur Pun. They were arrested on April 20. The Division Forest Office, Nawalparasi has launched an investigation, he said. According to the CNP, a 12-year-old female rhino and her four-year-old child were killed in the Nandabhauju Community Forest under the buffer zone of the CNP on January 20, 2023.  

A person died on the spot and two others were injured after being struck by lightning at Gauriganj Rural Municipality-6 in Jhapa on Wednesday. Police identified the deceased as Bijaya Sardar (15) of Khajurgachhi in the Rural Municipality. Khagendra Rijal, spokesperson at the District Police Office Jhapa, said that the incident occurred while he was going towards the field. Shikandar Alam (20) and Manijur Alam (16) of Phulabari, India were injured in the incident. They have been sent to Medimax Hospital at Gauradaha for treatment, spokesperson Rijal said.

The South Asian Association for Regional Cooperation (SAARC) along with Welthungerhilfe (WHH) is pleased to announce the hosting of a Regional Consultation Meeting focused on “Promoting Nutrition Sensitive Agriculture for Improving Nutrition Security and Health of Smallholders in South Asia.” This significant event will convene key stakeholders to collectively address the pressing issues of nutrition and health in the region, with a specific emphasis on smallholder farmers.  Covering approximately 24 percent of the global population within just three percent of the world’s landmass, the South Asian region faces the highest population density worldwide. With around 67 percent of the population residing in rural areas and depending on agriculture, fisheries, and forest products for their livelihoods, the region continues to confront the challenge of undernutrition. While progress has been made in recent years, the prevalence of undernourishment remains significant, impacting an estimated 267m individuals. According to the Global Hunger Index, South Asia has the world’s highest hunger level, including the highest child stunting rate, and by far the highest child wasting rate of any world region. Recognizing the critical importance of achieving the Sustainable Development Goals (SDGs), with a particular focus on SDG II aimed at ending hunger, the SAARC Agriculture Vision 2020 underscores the need for food and nutrition security in the region. In response to this imperative, the upcoming regional consultation meeting will adopt a targeted approach, establishing a connection between agriculture, nutrition, and health. By promoting nutrition-sensitive agriculture, stakeholders aim to improve the nutrition and health outcomes of smallholder farmers, as well as consumers. The Nutrition Smart Community, demonstrated by Welthungerhilfe (WHH) aims to address malnutrition, with a particular focus on children under five years of age and women of reproductive age, by employing a comprehensive approach that involves multiple sectors and stakeholders. This approach encompasses integrated farming systems, which connect agriculture and natural resource management to ensure nutrition security. Additionally, the initiative focuses on institution building, nutrition education, nutrition-sensitive village micro-planning and access to government’s food and nutrition programs. Implemented across roughly 260 villages in vulnerable regions of Bangladesh, India, and Nepal, the Nutrition Smart Community project operates under the larger initiative called the “Regional Program for Promoting a Multisectoral Approach for Nutrition Smart Villages in Bangladesh, Nepal, and India.” The meeting is expected to yield several outputs, including an analysis of nutritional status at the country level, identification of key measures relevant to nutrition-sensitive agriculture, exploration of opportunities for promoting and expanding nutrition-sensitive agriculture in the region, and the publication of a comprehensive book capturing the findings and recommendations. About 30-35 participants, including high-profile dignitaries, representatives from SAARC member countries, Government officials from Bangladesh, India, and Nepal along with personnel from Welthungerhilfe (WHH) and its collaborative partners will take part in the workshop. During the workshop, seven SAARC countries will present their country’s situation focusing on the specific thematic areas along with learning and experiences from WHH Nutrition Smart Communities in Bangladesh, India and Nepal. Moreover, there will be informative keynote presentations focusing on the transformation of food systems and nutrition, as well as an overview of the status of child nutrition in South Asia during the ongoing global crisis. Welthungerhilfe, a prominent development partner, has joined hands with SAARC to support and contribute to the Regional Consultation Meeting. This partnership exemplifies the importance of collaboration among various stakeholders, including governments, private sectors, international communities, cooperatives, farmers and civil societies, to tackle the issue of nutrition and health in the region.

The CPN-UML has called a Parliamentary Party meeting on Wednesday. UML Whip Mahesh Bartaula said that the meeting has been called for 1: 30 pm today. “Prime Minister Pushpa Kamal Dahal had said that Pritam Singh had visited India time and again to make him the Prime Minister.  This is not a common issue” he said, adding, “We have our serious objection to Prime Minister Dahal’s statement. The meeting was called to discuss this topic and contemporary issues.” He said that the party cannot be ignorant of this matter. “The Prime Minister made by the Parliament said that India plays an instrumental role to make the Prime Minister in the country. His statement is condemnable. We cannot stay mum by ignoring the issue,” Bartaula said. During a program organized to launch the book in Kathmandu on Monday evening, Prime Minister Dahal had said that Pritam Singh visited Delhi many times to make him the Prime Minister. His statement has been roundly criticized on social media.  

The CPN-UML, the main opposition in the Lumbini provincial parliament, has finally decided to support the budget presented for the fiscal year 2023/24. The party had been obstructing the Province Assembly session till Tuesday, expressing its dissatisfaction over the government's annual estimation of income and expenditure for the upcoming fiscal. The government and the party had sat for talks last night that ended conclusively. Chief Minister Dilli Bahadur Chaudhary has promised to address the party's concerns in the PA session and the party has decided to allow the PA conduct its business from today, according to UML Province Chief Tulasi Chaudhary. Chief Minister Chaudhary and Speaker Tularam Gharti forged consensus through talks with the UML which had boycotted the meeting. Opposition party leader Leela Giri, deputy leader Chet Narayan Acharya and chief whip Chaudhary participated in the talks. The Province Assembly which was postponed on Tuesday has been called for today after the agreement between the ruling and the opposition sides. The Province Assembly Secretary Durlav Kumar Pun Magar has issued a notice stating that the 17th meeting of the second session of the Province Assembly that was put off on Tuesday has been called for 1.00 pm today. It is stated in the notice that the meeting has been called in accordance with the Rule 12 (3) of the Province Assembly Regulation as directed by the Speaker.