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Biratnagar: Gagan Thapa, the General Secretary of the Nepali Congress, said that the leader of the parliamentary party will change once he reaches the required number of Members of Parliament (MPs). During a conversation with reporters in Biratnagar on Saturday, Thapa expressed his intention to move forward by changing the leader of the parliamentary party.

Thapa highlighted that the Constitution of the Congress Parliamentary Party includes a provision for changing the party leader. He stated, “Our party’s parliamentary party constitution allows for a change in leadership. In the past, we have witnessed instances where the leader of the parliamentary party was changed.” Thapa further explained, “I contested the leadership position with the belief that I should be the leader of the parliamentary party. Even now, I am capable of effectively managing the parliamentary party, based on the country’s needs. However, my previous attempt was unsuccessful due to lack of support from my colleagues. I will make another attempt when I feel that the support of my colleagues will give meaning to my efforts.”

Thapa also pointed out that Sher Bahadur Deuba, the current party leader, became the parliamentary leader during Girija Prasad Koirala’s leadership, as he garnered votes. Presently, Sher Bahadur Deuba serves as the leader of the Congress parliamentary party, having secured 64 votes in the parliamentary party election. In contrast, Thapa, who competed against Deuba, had received only 25 votes

The National Assembly endorsed the Bill to Raise National Debt.

In today's meeting of the National Assembly, Finance Minister Dr Prakash Sharan Mahat presented a proposal to return the Bill, received from the House of Representatives (HoR) with suggestions, to HoR, the lower house of the Federal Parliament, without making any amendment to it. The proposal was passed by majority.

In the course of clause-wise discussion on the Bill, lawmakers had raised questions on the usefulness of such a type of debt at a time when the percentage of public debt is rising as compared to gross domestic product.

The NA will meet next at 1 pm on July 17.

Speaker Devraj Ghimire has directed the Ministry of Agriculture and Livestock Development to inform the House regarding the government's efforts so far for controlling the lumpy skin disease in cattle.

Lawmakers had called the attention of the government before this that the farmers were facing problems and bearing losses as thousands of cattle died due to the disease that has spread throughout the country as an epidemic.

The Speaker issued the directive to the Agriculture Ministry to brief the Parliament about the efforts being made by the government to control the epidemic.

Nepali Congress President Sher Bahadur Deuba and US Assistant Secretary of State for South and Central Asia Affairs Donald Lu held a meeting at the former’s residence in Dhumbarahi on Friday.

Lu, who came to Kathmandu to discuss the issue of MCC implementation, is scheduled to meet senior leaders of various political parties.

He arrived in Kathmandu on Friday.

The US Assistant Secretary was welcomed by US Ambassador to Nepal Dean Thompson at the Tribhuvan International Airport.

Preparations are underway to implement the MCC from mid-August 18 months after the endorsement by the Parliament.

As per the MCC agreement, the US agency will provide $500 million in grants and the government will spend $130 million on energy and transportation projects.

The price of gold has increased by Rs 100 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 112, 500 per tola today. It was traded at Rs 112, 400 per tola on Thursday.

Meanwhile, tejabi gold is being traded at Rs 111, 950 per tola. It was traded at Rs 111, 850 per tola.

Similarly, the price of silver has increased by Rs 40 and is being traded at Rs 1,480 per tola today.

US Assistant Secretary of State for South and Central Asia Affairs, Donald Lu, arrived in Kathmandu on Friday.

US Ambassador to Nepal Dean Thompson welcomed him at the Tribhuvan International Airport.

He left for the MCC office directly from the airport.

During this stay in Nepal, he is scheduled to meet Nepal government officials and ministers.

Lu arrived in Nepal on the eve of the implementation of the US-aided Millennium Challenge Corporation (MCC).

Preparations are underway to implement the MCC from mid-August 18 months after the endorsement by the Parliament.

As per the MCC agreement, the US agency will provide $500 million in grants and the government will spend $130 million on energy and transportation projects.

According to MCA Nepal, more than two billion rupees have already been spent on the MCC project so far.

During the Nepal visit, the US Assistant Secretary is scheduled to call on Prime Minister Pushpa Kamal Dahal and Foreign Minister NP Saud.

Cooperatives are not in the pink of financial health, again. A high-interest, low-risk business model floated to prospective depositors to draw their hard-earned savings has holes in it as it became clear during the first wave of the cooperatives crisis prominently featuring the Oriental Cooperatives et al.

It will be contextual here to mention Oriental for a number of reasons. First, it was the ‘unsinkable’ Titanic that capsized in the roiling waters of largely unregulated financing in 2013 amidst a housing crisis with deposits worth billions of rupees, belonging, by and large, to members of the general public. Secondly, per rumors mills spinning at that time, that firm had some very powerful leaders of equally powerful parties behind it. The claims that they had their not-so-well-gotten money stashed in that firm’s vaults may not be entirely untrue as none of the accused has bothered to come clean on a serious allegation like this.

Also, as it became evident that the firm was on the verge of collapse, one formidably powerful politician managed to withdraw his fortunes real quick, while thousands of other depositors had no such access. At that time, several other cooperatives went the Oriental way, with hard-earned money belonging to thousands of individuals. This crisis has caused untold miseries to the depositors and their heartbreaking sagas are yet to be written.  

The collapse of the cooperatives one after the other points at a serious systemic ill: The lack of a government regulator and the culture of impunity.  

Shockingly, a section of the ‘authorities concerned’ washes its hands of these firms. It believes that these firms lie in a gray zone. Their line of argument is that neither the firms fall under the direct jurisdiction of the Central Bank nor that of the Department of Cooperatives.

With friends in high places, it is but natural for them to have scant regard for commoners’ hard-earned savings. This hands-off attitude is also to blame for the cooperative crisis. 

What’s more, there’s a tendency to take the firms as a laundromat of sorts, used to turn black money into white. If such is the case, why can’t the government conduct a probe, prosecute the guilty and cleanse the whole damn system? Is it easier said than done or will it boomerang?  

Driven perhaps by this mindset, the government has done precious little (or has it?) to rein in these firms even after the sinking of the ‘Titanic’ and other vessels in the choppy waters of unregulated financing with billions of rupees belonging to not-so-powerful depositors. 

Even after robbing the depositors of their small fortune, those involved in the multibillion rupee scam are going scot-free, making a mockery of the government. The onus is on the government to end this culture of impunity for this serious white-collar crime and see to it that the depositors get their life’s savings back.

A two-year-old boy was beaten to death by his grandfather at Mudelidhar in Purchaudi Municipality-6 of Baitadi district.

Resham Saud, who was critically injured after being beaten by his grandfather Ganesh Saud, died while receiving treatment at the Dadeldhura Hospital this morning, Police Inspector Lokraj Joshi confirmed.

Likewise, Ganesh's other grandson, eight-year-old Rijan Saud, was critically injured in the attack. Rijan is receiving treatment at the ICU of Nawajiban Hospital in Dhangadhi, Kailali.

Police said that 50-year-old Ganesh had thrashed his two grandchildren on Thursday when the kids' mother and grandmother had gone away from home to collect fodder.  

Police said that they have arrested Ganesh for investigation.