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US President Donald Trump has again claimed he helped avert a nuclear conflict between India and Pakistan after the Pahalgam attack. During a meeting with NATO Secretary-General Mark Rutte, Trump said US trade diplomacy played a key role in easing tensions following India’s Operation Sindoor, Firstpost reported.

While Pakistan has credited Trump’s mediation, India has consistently denied any such involvement.

The Electricity Regulatory Commission (ERC) has decided to conduct a feasibility study for the development of a wholesale electricity market in Nepal. The 279th meeting of the ERC approved its annual plans and programs for fiscal year 2025/26.

According to ERC, the wholesale market would act as a bridge between producers, sellers and buyers of electricity, enabling direct energy trade and competitive pricing. It believes that such a platform will promote private sector participation, ensure long-term supply and make the power sector more competitive.

Indian Energy Exchange (IEX) and Power Exchange India Ltd (PXIL) serve as wholesale electricity markets in India. Nepal Electricity Authority (NEA) has also been selling its surplus energy in the day-ahead market of the IEX. ERC officials say the feasibility study will examine legal and institutional frameworks, technological requirements, potential models for market development and phased implementation strategies. Based on the findings of the feasibility study, the ERC will develop a long-term policy roadmap and necessary regulatory provisions for the wholesale market.

The ERC has also approved plans to determine a cost-based, transparent structure for transmission and wheeling charges to promote open access and fair pricing. It is expected to improve power trade and attract investment in the energy sector.  The ERC has also said that it would also review the existing structure of Power Purchase Agreements (PPAs). The current PPA formats depend on the nature of the investment and there are separate PPA formats for projects developed by the private sector and government entities. The ERC plans to standardize the framework to ensure equal treatment for all investors.

It also plans to assess the actual cost of hydropower generation through a cost benchmarking study. The study will include analysis of river flow levels, discharge, and topography to estimate the likely cost of specific project types, giving investors clearer guidance on the viability of their investments. This will help formulate effective pricing strategies for electricity purchase agreements, according to the ERC. Likewise, it plans to verify and evaluate the technical and financial progress of hydropower projects through independent third parties or consultants. It also plans to introduce a distinct tariff structure for reservoir-based and other storage projects. 

With technologies such as pumped storage, battery storage, and reservoir-based hydropower playing an increasingly critical role in system stability and peak-time energy supply, the ERC plans to conduct technical, economic and regulatory studies to establish fair, transparent, and investment-friendly tariff rates. So far, no specific tariff structure exists for such projects. The ERC has also said that it would set clear criteria and justifications under which electricity can be curtailed or disconnected.

Prime Minister KP Sharma Oli has said that preparations are underway for the full operation of the Korala checkpoint in Mustang, along with the necessary infrastructure and facility development.

PM Oli said this during discussions with a delegation of federal parliamentarians representing Mustang and the local level people's representatives held at the Prime Minister's official residence in Baluwatar on Monday.

On the occasion, PM Oli recalled that he had initiated the construction of the Benighat-Korala road, facilitated Indian Prime Minister Narendra Modi's visit to Muktinath, started the process for the operation of the Muktinath cable car, prioritized the construction of the Super Zone for apples, and the mountain goat farming project, among other works in Mustang.

The delegation, led by Prime Minister Oli, requested a reconsideration of tourism royalties as there has been a decline in tourists after the government declared the upper region of Mustang, including Lomanthang and Lho-Ghekar Damodar Kunda Rural Municipality, as a prohibited area and imposed a fee of USD 500 per person on foreign tourists.

It was demanded to blacktop the Kagbeni-Korala road section under the Kaligandaki Corridor and to construct necessary structures to fully operate the Korala checkpoint. The delegation drew the government's attention to the need for construction of physical infrastructure for customs, immigration, integrated security posts, and dry ports at the Korala border transit point.

The elected representatives shared on the occasion that the hotels and local businesses in Upper Mustang were forced to suffer losses due to the incomplete operation of roads and the border checkpoint, as well as the implementation of restricted areas.

Prime Minister Oli instructed his private secretariat to coordinate with the relevant bodies to address those demands.

A few days ago, a team led by the Prime Minister's personal secretary Binod Bahadur Kunwar carried out a field study visit of the Kaligandaki Corridor and prepared a report on the initiatives needed for the operation of roads and the border check post.

The delegation included federal Member of Parliament Yogendra Gauchan Thakali, chairman of Lomanthang rural municipality Tashinhurbu Gurung, and Lopsang Chhompel Bista among others.

The contract for the 97-kilometre blacktopping of the Kagbeni-Korala road section is still pending, and since the contracts for the construction of bridges over the Tatopani River, Danakhola, Pandakhola, and Tangbe River have been terminated, it seems necessary to restart the work, according to the delegation.

Minister for Federal Affairs and General Administration Raj Kumar Gupta has resigned from his post. He submitted his resignation to Prime Minister KP Sharma Oli earlier today.

Gupta said he decided to step down in the hope that it would help bring about facts regarding allegations of his involvement in a corruption case.

Expressing gratitude to all those who cooperated with him during his tenure, he said that he remains committed to fulfilling any responsibilities entrusted to him by the party in the future.

It may be noted that lately audio clips have been circulated in various media and social sites, alleging his involvement in corruption amounting to millions of rupees.

CPN (Maoist Center) Chairperson Pushpa Kamal Dahal has said his party is ready to support a constitutional amendment and has proposed a seven-point agenda for it. Speaking during a special address in the House of Representatives on Monday, Dahal expressed dissatisfaction with the Nepali Congress and CPN-UML, saying they had pledged to amend the Constitution when forming the current coalition government but have not acted accordingly.

Leader of main opposition Dahal outlined seven key areas where he believes constitutional amendments are necessary. These include the system of governance, the electoral system, the naming of provinces, and the demarcation of provincial boundaries along with addressing issues of identity and rights. He also emphasized the need to strengthen fiscal federalism, ensure greater inclusivity, and introduce enhanced provisions for social justice.

He said his party is prepared to fully support the government if it proceeds with a constitutional amendment on these issues. “I want to tell the government—if a two-thirds majority is lacking, our party will take responsibility to gather the required support. Move forward with confidence,” Dahal stated.

However, he also emphasized that any amendment must address long-standing dissatisfaction that has existed since the promulgation of the Constitution. He recalled that his party had expressed differing views during the Constitution’s adoption, and those concerns still need to be resolved.

“Does the government have the courage to move ahead with progressive constitutional amendments addressing the system of governance, electoral system and issues of naming and demarcating provinces, as well as ensuring identity, rights, fiscal federalism, better inclusivity and social justice?” he asked.

Dahal warned that Nepal is heading toward a multidimensional national crisis. He accused the government of being influenced by brokers and vested interests. In a special address to the House of Representatives, Dahal said the government has strayed from the commitments made during the Comprehensive Peace Accord and the drafting of the Constitution. “Are we moving forward according to the dreams we saw during the peace process?” he wondered. “Corruption, lawlessness, and systemic disorder have taken root. Public services are difficult to access, and the state has failed to protect marginalized communities.”

He expressed frustration over bills that pass unanimously in parliamentary committees but remain stalled in the House due to “political interference and backstage maneuvering.” He accused the Nepali Congress and CPN-UML of turning the Parliament into a “playground for middlemen” through collusion, calling the trend dangerous for democracy. He further claimed that the government was operating under the influence of brokers and rent-seekers, compromising even regulatory bodies.

Citing several high-profile controversies—including the Bhutanese refugee scam, stock exchange licensing issues, electricity dues waivers, protection of land mafias and questionable appointments—Dahal alleged that governance has been hijacked by vested interests. “The character of this unnatural coalition has been exposed, and the public finds it disgraceful,” he said.

Dahal also questioned whether the government is prepared to ensure transparency in critical areas such as stock exchange licensing and arms procurement by security agencies. “This government is sliding toward the total collapse of good governance,” he warned. “When the state functions under commission deals and broker influence, it becomes a threat to democracy.”

Calling for urgent reforms, Dahal urged the government to prioritize good governance, social justice and economic transformation. Without corrective measures, he cautioned, the country could face growing instability.

S. Jaishankar, the Indian External Affairs Minister, met with Chinese President Xi Jinping in Beijing on Monday ahead of the Shanghai Cooperation Organisation (SCO) Foreign Ministers meeting. He conveyed greetings from Indian President Murmu and Prime Minister Modi, underlining India's commitment to improving relations while trying to settle lingering border concerns resulting from the 2020 Ladakh standoff, Firstpost reported.

In discussions with Chinese Foreign Minister Wang Yi, Jaishankar acknowledged the “good progress” made in easing tensions over the past nine months but emphasized the need for continued efforts to avoid disputes. He also called for removing trade barriers to enhance economic ties and urged a firm, shared stance on “zero tolerance” towards terrorism.

This visit marks Jaishankar’s first to China since the military clashes began, signaling a cautious but positive step toward better cooperation, according to Firstpost.

Heavy rains caused dangerous flash flooding in New York and New Jersey Monday, prompting New Jersey’s Governor Phil Murphy to declare a state of emergency and urge residents to stay indoors and avoid unnecessary travel, according to Associated Press.

New York officials warned basement apartment residents to be prepared to evacuate if needed. Floodwaters forced closures of major roads like the Cross Bronx Expressway and disrupted subway and train services, especially in Queens and Staten Island. Airports including LaGuardia, Newark, and JFK faced flight cancellations and delays as the storms continued.

Italian Foreign Minister Antonio Tajani warned Monday that the EU is ready to impose billions in retaliatory tariffs on US goods if trade talks fail, stressing that “tariffs hurt everyone,” including American consumers and investors, Xinhua reported.

The warning follows US President Trump’s plan to introduce a 30 percent tariff on EU and Mexican imports starting August 1.

Italian Prime Minister Giorgia Meloni echoed concerns, urging diplomacy over a “damaging trade war” that would weaken both sides.

Reports suggest Italy could lose up to €12.4bn in exports and 150,000 jobs. Agricultural producers would be hit hardest, with cheese, wine, and pasta facing steep tariff hikes, according to Xinhua.