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Smart Telecom has lost its telecom license after failing to clear the dues and renewal fees it owes to the Nepal Telecommunications Authority (NTA). The embattled telco's license got revoked automatically as it failed to pay the dues within the stipulated time of Sunday. Smart Telecom has to clear Rs 28bn in dues to NTA to renew its license. With the company losing its operating permit, NTA has advanced the process of asset management of Smart Telecom. A board meeting of the telecommunications sector regulator on Monday decided on the takeover of the company by the government on the basis of Property Management Regulations, 2079 BS. The government on the second week of December last year issued the Regulations for managing the property of telecommunications services providers who do not have valid licenses. The NTA board meeting decided to instruct Smart Telecom to hand over its telecommunication infrastructure, systems and network in accordance with Rule 9 of Sub-rule 1 of the Regulations. The company is required to pay Rs 23bn for license renewal and Rs 5bn as dues. According to NTA Co-spokesperson Achyutananda Mishra, the license of Smart Telecom was automatically revoked following non-payment of renewal fees and dues. After the cancellation of the license, the NTA has written a letter to Smart Telecom to hand over the property within 15 days. According to Mishra, a committee led by NTA board member Gokarna Sitaula will oversee the takeover of Smart Telecom. In the first phase, the authority has planned to proceed with the property evaluation of the company. Smart Telecom received the basic telephone services operating license on April 15, 2013, and had to renew the license by paying dues and renewal fees before the permit term expires. However, the company had defaulted in clearing the dues in the past and had sought an extension from the government several times. The then KP Sharma Oli-led government had allowed the company to clear the dues in five installments. Even then, Smart Telecom was not able to clear the outstanding amount. The Singapore-based Lal Sahu Distribution Pte. Ltd. has a majority stake of 70 percent in Smart Telecom. By using political influence, the company in the past had been successful in getting extensions to pay dues as well as securing its license even when the regulator revoked it. This time also, the promoters of the company did intense political lobbying to secure the license, but to no avail. On July 29, 2019, NTA revoked the license of Smart Telecom. However, the company succeeded in rolling back the authority's decision after it filed a review application at the Ministry of Communication and Information Technology within five months. Smart Telecom moves court While the NTA has set a deadline of 15 days for the transfer of assets, Smart Telecom has gone to court to safeguard its license. The company had filed a case at the Patan High Court demanding to reserve the license. On behalf of Smart Telecom, Ramnath Bantha Tharu filed a case in the Patan High Court on Thursday making the Prime Minister's Office, the Ministry of Communications and Information Technology, NTA, and its chairman the defendants. However, the Patan High Court has issued only a show cause notice in the case filed by Smart Telecom not the interim order. A bench of Justice Dipendra Bahadur Bam's bench issued a show cause order on Monday and called for a discussion on the interim order. Only after the discussion, the court will decide whether or not to issue an interim order. The show cause order of the court will not stop NTA to proceed with work related to the takeover of Smart Telecom.

A mountaineer from Ireland, who had climbed Mt Everest 10 times, died while climbing Mt Annapurna at Narchyang in Annapurna Rural Municipality-4 of Myagdi district. An Indian national has been missing and another has been rescued alive by a helicopter. A Kailash Air helicopter rescued Baljeet Kaur from 7, 500 meters on Tuesday afternoon, Indra Singh Sherchan, a member of the rescue team, said. He had gone to climb Mt Annapurna through Pioneer Trekking Company in Kathmandu. Sherchan said Neol Hanna died at the high camp of Mt Annapurna last night. The body of Hanna, who had gone to climb Mt Annapurna through Seven Summit Trek, was brought to the base camp from 6,000 meters this afternoon. Neol and Baljeet were missing since Monday morning. The whereabouts of Anuraj Malu (34) of Kishangadh, Rajasthan, India is yet to be ascertained. Thaneshwor Guragain, Manager of Seven Summit Trek, said that Malu went missing from 7, 500 meters while descending to the base camp after he failed to climb the mountain on Monday afternoon. Four choppers of Simrik, Kailash, Air Altitude and Everest Air were deployed to search for the missing persons.

The Nepal Insurance Authority (NIA) has planned to extend the deadline for insurance companies to increase their paid-up capital by three months. As the majority of insurance companies' paid-up capital is below the regulatory requirement, the NIA extended the deadline to mid-July, 2023. The authority is pushing for a consolidation drive in the insurance sector by increasing the minimum paid-up capital requirements for both life and non-life insurance companies. A year ago, NIA required non-life insurers to have Rs 2bn in paid-up capital, while it is Rs 5bn for life insurance companies, by mid-April 2023. According to the NIA Chairman Surya Prasad Silwal, the companies failing to meet the new capital requirement have been given one chance. NIA has said that insurance companies such as Prabhu Insurance, Asian Life Insurance, and Rastriya Beema Company have not made substantial efforts to raise capital. These companies have to go for mergers to increase their paid-up capital. The authority is discouraging companies to issue the right shares for the purpose of capital increment. After the NIA issued the directive on paid-up capital increment, only four insurance companies raised their capital as per the regulatory requirement. Among the life insurance companies, the paid-up capital of Nepal Life Insurance Company is above Rs 5bn. Three non-life insurance companies - Shikhar Insurance, Siddhartha Premier Insurance, and Sagarmatha Lumbini Insurance have also met the regulatory obligation. With NIA pushing for capital increment, the majority of insurers have opted for mergers. Of the 19 insurance companies involved in the merger process, six companies have merged to become three and have started their integrated business while 13 others are still in the process of completing their mergers. NIA has recently given its final approval to the merger between IME General Insurance and Prudential Insurance. Similarly, Sanima Life Insurance and Reliance Life Insurance have also received a final nod for the merger from the regulator. In the case of insurance companies having foreign investments such as MetLife, and The Oriental Insurance, their foreign promoters are said to be injecting additional capital to meet the regulatory requirement. Meanwhile, Citizen Life, Sun Nepal Life, IME Life, and Reliable Life are yet to issue initial public offerings (IPOs).  

The loan shark victims have said that they would hold talks only with the Prime Minister. During a press conference organized at Shantibatika in the Capital on Tuesday, they strongly protested against Deputy Prime Minister and Home Minister Narayan Kaji Shrestha. The loan shark victims said that they would not return home until their demands are met. They also accused the government of suppressing their peaceful protest. Earlier, at least nine loan shark victims were injured in a clash with police at Shantibatika. The Farmers-Workers Struggle Committee has forwarded a six-point demand to the government. The loan shark victims have also accused the government of not giving attention to their demands.

The gold is being traded at Rs 110, 000 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 109, 500 per tola. However, the price of silver has dropped by Rs 35 and is being traded at Rs 1,435 per tola today.

Around 500 MW of electricity was added to the national grid in 2079 BS. With electricity generated from more than 20 power projects being connected to the national transmission system, the total installed capacity of hydropower plants operational in the country has reached 2,689 MW by mid-April 2023. The construction of the Solukhola (Dudhkoshi) Hydroelectricity Project, the largest hydropower project developed by the Nepali private sector, was completed in 2079 BS. Developed by Sahas Urja, the 86 MW project commenced its commercial production on March 1, 2023. According to the Nepal Electricity Authority (NEA), the country's total installed capacity would reach around 3,000 MW by the end of the current fiscal year 2022/23. The NEA has projected an additional 811 MW of electricity will be added to the national grid in the current fiscal year. The state-owned power utility expects the 111 MW Rasuwagadhi, 57.3 MW Sanjen and Upper Sanjen, 102 MW Madhya Bhotekoshi, and 54 MW Super Dordi to come online by the end of the current fiscal year. Until mid-July, 2023, the construction of additional 15 hydropower projects is expected to be completed. In 2079 BS, a total of 19 hydropower projects came into full operation while the test of nine others has reached the final stage. Projects with an accumulative capacity of 3,280 MW are under development and once they are completed, the national grid will have around 7,000 MW of electricity. The NEA is preparing to export around 1,200 MW in the coming monsoon season. According to Independent Power Producers Association Nepal (IPPAN), some projects promoted by the private sector are in the phase of trial production. Those projects will begin commercial production of power after the 15-day trial in the presence of NEA employees. The trial production of the 19.8 MW Upper Solu River Hydropower Project promoted by Beni Hydropower is in the final stage. According to the company's managing director Ganesh Karki, the project's power has been already connected to the national grid, and commercial production is likely within the next few days. Similarly, the 14.9 MW Mayakhola Project in the Sankhuwasabha district is also set for commercial production shortly. The other projects preparing for commercial production are the 5 MW Rukumgad Project in Rukum, and the Sindhupalchowk-based Ghattekhola Project. The 54 MW Super Dordi 'B' in Lamjung and the 2 MW Solar Power Project in Nawalparasi, the 6.8 MW Solar Power Project in Morang, and the 10 MW in Banke have already been connected to the national grid. The 10 MW Makarigad Project also started commercial production in 2079 BS. Meanwhile, NEA Executive Director Kulman Ghising has directed the contractors to complete the construction of three projects, namely Rasuwagadhi (111 MW), Lower Sanjen (57.3 MW), and Madhya Bhotekoshi (102 MW), that are being developed by NEA's subsidiary companies, by the end of the current fiscal year. The domestic investors are preparing to go ahead with the construction of projects with a capacity of generating 1,553 MW, according to IPPAN's Executive Member Prakash Dulal. The government has registered a company and forwarded the process of building the Budhigandaki Hydroelectric Project. Now, the government plans to hand over the 1,200 MW project to the NEA. On the transmission line part, the process of constructing the New Butwal-Gorakhpur 400 kV transmission line has moved ahead.  

Two persons have been arrested for defrauding 22 persons of Rs 6.6 million assuring them of lucrative jobs abroad. A team of Kathmandu Valley Crime Investigation Office nabbed Sudhan Kumari Shahi and Anil Shrestha. Somendra Singh Rathore, spokesperson at the Crime Investigation Office, said that a complaint was filed at the office stating that the duo had collected Rs 5 lakh each from 22 people on the pretext of sending them to Italy, South Korea, New Zealand and Portugal among other countries for foreign employment. Based on the complaint, police apprehended them from Gongabu. Shahi (28) is the operator of Greenleaf International Consultancy and Nepal Snowfall Mountain Trek and Expedition and Shrestha is the Managing Director. Further investigation into the incident is underway.

Fighting between the army and paramilitaries in Sudan has killed around 200 people and wounded 1,800, damaging hospitals and hampering aid on Monday after three days of urban warfare, AFP reported. A weeks-long power struggle exploded into deadly violence Saturday between the forces of two generals who seized power in a 2021 coup, Sudan's army chief Abdel Fattah al-Burhan and his deputy, Mohamed Hamdan Daglo, who commands the paramilitary Rapid Support Forces (RSF). Analysts say the fighting in the capital of the chronically unstable country is unprecedented and could be prolonged, despite regional and global calls for a ceasefire as diplomats mobilise. The European Union's ambassador to Sudan was attacked in his home in Khartoum on Monday, the bloc's top diplomat Josep Borrell said. A spokesperson told AFP the veteran diplomat was "OK" following the assault. "Security of diplomatic premises and staff is a primary responsibility of Sudanese authorities and an obligation under international law," Borrell said, according to AFP. Battles have taken place throughout the vast country and there are fears of regional spillover. Terrified residents of the capital are spending the last and holiest days of Ramadan watching from their windows as tanks roll through the streets, buildings shake, and smoke from fires triggered by the fighting hangs in the air. The conflict has seen air strikes, artillery and heavy gunfire. Those compelled to venture out face queues for bread and petrol at outlets which are not shuttered. Residents are also dealing with power outages.

Hospitals 'out of service'

Volker Perthes, the head of the United Nations mission to Sudan, told the Security Council in a closed-door session that at least 185 people have been killed and another 1,800 wounded. "It's a very fluid situation so it's very difficult to say where the balance is shifting to," Perthes told reporters after the meeting. Earlier Monday, UN Secretary-General Antonio Guterres again urged Sudan's warring parties to "immediately cease hostilities". He warned that further escalation "could be devastating for the country and the region." Medics in Sudan had earlier given a death toll of nearly 100 civilians and "dozens" of fighters from both sides, but the number of casualties was thought to be far higher, with many wounded unable to reach hospitals. The official doctors' union warned fighting had "heavily damaged" multiple hospitals in Khartoum and other cities, with some completely "out of service". The World Health Organization had already warned that several Khartoum hospitals tending to wounded civilians "have run out of blood, transfusion equipment, intravenous fluids and other vital supplies". In the western region of Darfur, international medical aid organisation Doctors Without Borders (MSF) reported receiving 136 wounded patients at the only hospital in El Fasher still operating in North Darfur state, AFP reported. "The majority of the wounded are civilians who were caught in the crossfire -- among them are many children," MSF's Cyrus Paye said. Due to limited surgical capacity, "11 people died from their injuries in the first 48 hours of the conflict."

Call for talks

Three UN World Food Programme staff were also among those killed, on Saturday in Darfur, where humanitarian missions have had medical and other supplies looted, according to Save the Children and MSF. A number of organisations have temporarily suspended operations in the country, where one-third of the population needs aid. "This renewed fighting only aggravates what was already a fragile situation, forcing UN agencies and our humanitarian partners to temporarily shutter many of our more than 250 programmes across Sudan," said UN emergency relief coordinator Martin Griffiths. Diplomatic manoeuvres seemed to ramp up on Monday, as the fighting showed no signs of abating. Influential northern neighbour Egypt announced it had discussed with Saudi Arabia, South Sudan and Djibouti -- all close allies of Sudan -- "the need to make every effort to preserve stability and safety". President Abdel Fattah al-Sisi called on the two warring parties to "return to the negotiating table" and said he was working on the return of Egyptian military "trainers" captured Saturday at an air base by RSF forces, according to AFP. The Gulf emirate Qatar spoke to African Union commission head Moussa Faki Mahamat, who is planning to "immediately" undertake a ceasefire mission. There are no more civilian flights arriving in Khartoum, where fighting has damaged aircraft.