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The government has decided to resolve border issues with India and China through diplomatic efforts. In the Common Minimum Program, the 10-party alliance led by Prime Minister Pushpa Kamal Dahal said that it would resolve the border issues with the neighboring countries in Limpiyadhura, Lipulek, Kalapani and other areas through diplomatic means. The government has decided to increase the border security post for the effective management and regulation of the border.  

The 10-party alliance led by Prime Minister and CPN (Maoist Center) Chairman Pushpa Kamal Dahal gave a final shape to the draft of the Common Minimum Program (CMP) of the government. Prime Minister Dahal has included the issue related to transitional justice in the program with a priority. The alliance has committed to conclude the remaining works of the peace process and transitional justice within two years. The government has a policy to manage compensation and rehabilitation for the conflict victims for the same. The government has also included a policy in the Common Minimum Program to implement the agreement made with various concerned authorities to give a final shape to the peace process. It has been mentioned in the Common Minimum Program that a commission would be formed by endorsing the bill to amend the Enforced Disappearances Enquiry, Truth and Reconciliation Commission Act and to provide necessary source and manpower.  

The Nepal Stock Exchange (NEPSE) gained 1.02 points to close at 1,919.42 points on Wednesday. Similarly, the sensitive index surged by 0.62 points to close at 361. 14 points. A total of 2,539,048-unit shares of 258 companies were traded for Rs 816 billion. Meanwhile, Super Mai Hydropower Limited was the top gainer today, with its price surging by 10. 00 percent. Khaptad Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 4.41 percent. At the end of the day, total market capitalization stood at Rs 2. 78 trillion.

The government has decided to enact a law to criminalize loan sharking activities. A meeting of the council of ministers on Tuesday decided to amend the existing legal arrangements to punish those involved in such acts. The enactment of the law will pave the way to file a case and pursue legal action against loan sharks. "It has been decided to include loan sharking in the Civil Code," said a minister, adding that a process to amend the law will be started soon. According to the minister, it has been decided to send the bill committee of the cabinet to complete the process of amending the law. According to the cabinet sources, some provisions of the Civil Code Act, and Civil Criminal Procedure Code Act, among others, have to be amended to criminalize loan sharking activities. A source at the Prime Minister's Office (PMO) said Prime Minister Pushpa Kamal Dahal had instructed to prepare the draft law for resolving the problems of people affected due to loan sharking and that a draft has been made ready. "Preparations are underway to give approval to the Ministry concerned to register a bill against usury in the parliament as the government has already prepared the draft law to address the demands of the usury victims," said the source. The government has also formed a committee to understand the problems of the victims of loan sharking who have been protesting in Kathmandu. The protestors returned to Kathmandu six months after signing a five-point agreement with the government in September last year after which they had ended their protest. The committee headed by Rudra Devi Sharma, joint secretary at the Home Ministry has Dil Kumar Tamang, under-secretary at Home Ministry, Umakanta Adhikari, under-secretary at the PMO, and Janga Bahadur Danga, under-secretary at Law Ministry as members. Once loan sharking is regarded as a criminal offense, the government will register cases and conduct legal fights against loan sharks. Currently, loan sharking is essentially categorized as an offense under the civil code, according to which the victims themselves have to engage in a legal fight against loan sharks.  

Nepal Rastra Bank (NRB) Governor Maha Prasad Adhikari and other high officials of the central bank have met with the country’s bankers to talk about the recent problems and contemporary issues in the banking sector. The meeting held on Monday went on for four hours and CEOs of all 21 commercial banks were present. The meeting was called at a time when the country's economy is facing multiple problems. The banking sector is currently reeling under high inflation, slow economic activities, and low demand for credit in the market. This situation has created difficulties for banks to recover their debts from borrowers. The non-performing loans (NPLs) of banks have increased sharply in the current fiscal year 2022/23. By the end of the first six months of the current fiscal year, the NPLs of commercial banks stood at 2.29 percent, a jump of 116 percent from 1.06 percent in the same period of the last fiscal year. Due to the increase in bad loans, the total provisioning amount of commercial banks has also increased to over Rs 29bn. As a result bank profits have also decreased. On top of that, protests against banks and financial institutions (BFIs) since January have worried bankers. Various groups are on the streets calling for non-payment of loans and loan waivers. There have also been reports about BFI employees getting assaulted in some parts of the country. According to Deputy Governor Bam Bahadur Mishra, the impacts of the country's economic problems and the incidents that have occurred recently were discussed with the bank CEOs. "By the end of the second quarter of the current fiscal year, NPLs of banks increased significantly and the third quarter is also ending soon. Protests against banks are also taking place. We discussed the ways to move ahead in this situation," he said. "However, the discussion did not reach any conclusion." Mishra started the meeting by presenting the current picture of the banking sector. The CEOs of all 20 commercial banks then presented their problems in turns, which was followed by the governor's speech. According to the bankers present in the meeting, Governor Adhikari did not offer any solution as to how to solve the current problems. "The issues were discussed for four hours. But there were no concrete words from the governor to come out of the situation," said a CEO of one bank. The governor tried to assure the bankers by telling them that there was no need to panic, as NPLs of banks in Nepal are still low compared to other countries. "Banks can return money to depositors even if they decide to withdraw all their deposit amount. The situation is not alarming even though the NPLs of banks have increased," Adhikari told the bankers. The bankers meanwhile asked for flexibility in the management of losses due to bad loans. They said the banks are not in a position to support borrowers from the current resources and the loan loss provision amounts are likely to increase further. They also urged the government to expedite spending to increase the flow of liquidity in the market. The bankers also asked the NRB officials for an alternative to raising the paid-up capital of banks. According to them, banks are still able to disburse loans easily on the basis of their capital levels. They demanded that banks should be able to increase paid-up capital through the issuance of rights shares and bonus shares. Governor Adhikari, however, did not address this issue. "His interest was in NPLs of banks. It seems the governor called this meeting just to boost our confidence,” said one bank CEO. “Nothing was promised."  

With the dismal growth and expansion of the manufacturing sector, Nepal has a very limited number of employers. According to the Population Census 2021, there are only 212,370 employers among people aged 10 years or above who are engaged in economic activities. The number of employers accounts for just 1.4 percent of the total economically active population who were involved in economic activities in the past 12 months before the census was conducted. According to the census, there are 14,983,310 economically active people engaged in certain economic activities over a year. “The low number of employers suggests that the country has failed to produce entrepreneurs adequately,” said a senior official of the National Statistics Office. “With the country failing to industrialize, the number of employers has also not grown." Manufacturing industries are considered mass employers but the share of the manufacturing sector in the country's gross domestic product (GDP) has been on the decline for the last several years. As per the Economic Survey 2021/22, the share of manufacturing in GDP stood around just six percent. The National Economic Census 2018 showed that the number of establishments in the manufacturing industry is 104,058 and this comprises 11.3 percent of all industries in Nepal. According to the Population Census 2021, among the employers, 160,292 are men and 52,078 are women. The largest number of employers are in Bagmati Province which is the center of the country’s major economic activities. The province has 70,289 employers followed by Koshi Province with 34,213 and Lumbini with 33,472. Then, the turn comes for Madhes provinces followed by Gandaki, Sudurpaschim, and Karnali as the number of employers comes down gradually. The number of employers is in line with business establishments and service providers in each province. According to the National Economic Census 2018, there were a total of 900,924 business establishments with Bagmati topping the list with 30.6 percent of enterprises being established in the province. There are 18.3 percent establishments in the second followed by Lumbini with 16 percent. The lowest number of business establishments is in Karnali where only 4.6 percent of total enterprises have been set up, according to the Economic Census. Most of Nepal's population engages in their own work. According to the population census, as many as 55.3 percent of the population aged 10 years and above who were involved in economic activities in the past 12 months, are engaged in their own work. The share of the population engaged in work for others stood at 28.6 percent. Bagmati once again tops in the number of people who work for others. As many as 36 percent of the total population aged 10 years and above, in the province work for others, according to the census.

Nayan Raj Pandey is a well-known writer who has made a significant contribution to Nepali literature. He has written several noteworthy books like ‘Ular’, ‘Ghamkiri’, ‘Loo’, and ‘Sallipir’, which explore themes like love, loss, and relationships. His writing style is descriptive, and reflects on the nuances of Nepali culture and society. Parusha Khadka from ApEx talks to Pandey about what goes on behind the writing process. What’s the story behind you being a writer? From a young age, I loved to read. I would spend most of my time reading books in the library. As I grew older, I realized that my love for literature was not just limited to reading. I wanted to be a writer. In fact, I was so inspired by the power of language and storytelling that I even sent poems to Radio Nepal, hoping to share my work with a wider audience. Also, I wouldn’t be the person I’m right now without my family’s support. Several relatives of mine come from the same background, and they have played a major role in nurturing my creativity and supporting my literary aspirations, for which I’m extremely grateful. What is your writing process like?  I have come to realize that I’m most productive in the afternoon, when the sun is shining and the day is well underway. I prefer to write on my laptop, which allows me to easily edit and revise my work. I try not to work during the night time, as I’m more creative and focused when I’m well-rested. Like every other writer, I presume, I look for a peaceful environment to write, where I can concentrate well and let my imagination run wild. Sometimes, I can write for 12 hours straight without taking a break. Sometimes, I get writers’ block, in which case I take some time off to relax and refresh my mind. What do you think is the most challenging part of writing? I have always challenged myself and pushed the boundaries of what’s expected in storytelling. I strive to create unique and original tales that stand out. This often means thinking outside of the box and exploring new/creative avenues that others might not have considered. As good as the idea seems, its execution is equally difficult. One of the biggest challenges I face is while developing characters that are not just relatable, but also distinct and memorable. I believe strong characters are the foundation of any great story, and I put a lot of effort into creating complex, nuanced, and at the same time, authentic individuals. Also, I think that storyline itself should be the driving force behind any writing. By developing a narrative that is compelling, emotional, and thought-provoking, I hope to create a work that not only entertains but also resonates with my audience on a deeper level. Among your own books/writings, do you have a favorite? I consider all my books to be like my children, and it’s difficult for me to choose just one. I believe that all of them have equal importance and value. Each one has a story to tell and a message to share, and I’m grateful for the opportunity I received to share them publicly. Whether a book is read by thousands or just a handful of people, the act of writing and storytelling is a meaningful and rewarding experience that I will always treasure. Are you working on anything at the moment? I will be publishing a novel soon. Since I’m always looking forward to pushing myself to do better, writing this novel is not going to be easy. But, I also know that nothing makes me happier than being able to do something new and create something different. I’m prepared to work hard and bring this book to life. What message do you have for readers looking to explore Nepali literature? For readers who are looking to explore Nepali literature, I would recommend them to start with novellas, or short stories. This will help them understand the themes and styles of Nepali literature. It will also help them find authors whose work resonates with them. I would also recommend readers to explore non-fiction on Nepali society and culture. Also, engage with authors on social media. Readers’ feedback is valuable, and works as an encouragement for every writer. Pandey’s Picks  Tyas Bakhat Ko Nepal by Sardar Bhim Bahadur Pande This book by Sardar Bhim Bahadur Pande contains stories heard/experienced by people during the last three decades of the Rana regime in Nepal. Modiaain by BP Koirala This is a novella written by BP Koirala where a mother narrates the story of Mahabharata to her son, from a woman’s perspective. It’s based on Hindu mythology and the analysis of Bhagavad Gita. Sipahiki Swasni by Mahesh Bikram Shah Sipahiki Swasni by Mahesh Bikram Shah depicts the story of a soldier’s wife. It’s set against the backdrop of the 10-year-long armed conflict in Nepal.

CPN (Maoist Center) leader Shiva Chandra Kushwaha joined the Janamat Party on Wednesday. He joined the Janamat Party by organizing a press conference in the Capital this afternoon. Kushwaha said that he joined the Janamat Party after he was ignored by the CPN (Maoist Center). He had filed nomination from the CPN (Maoist Center) in Bara 2 in the election to the House of Representatives held in November last year. He was defeated by a margin of 354 votes with Janata Samajbadi Party candidate Ram Sahaya Yadav. The by-election will held on April 23 in the vacant post after Yadav was elected as the Vice-President. After joining the Janamat Party, Kushwaha said that he would contest the by-election from Bara-2. Janata Samajbadi Party Chairman Upendra Yadav is preparing to contest the by-election in that region from the ruling alliance.