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The 45 MW Upper Bhotekoshi Hydropower Project in Sindhupalchowk, which had been shut down for a month over locals’ demand for 10 percent free shares, has resumed operations. An all-party meeting between representatives of the Bhotekoshi Power Company, the agitating Bhotekoshi GenZ group, local government officials, and community leaders reached a five-point agreement, including the provision of 10 percent free shares to local residents.

According to the agreement, Bhotekoshi Power Company will allocate 10 percent of its shares to GenZ Public Investment Limited—a company formed by residents directly affected by the project. The agreement was signed by GenZ Public Investment Limited Chairperson Phurpa Sherpa and Bhotekoshi Power Company Secretary Bishwamohan Karmacharya.

Locals will be allowed to purchase shares at Rs 100 per share through bank loans, to be repaid from project dividends within a year. The agreement also raises the percentage of free shares to be given by the company to GenZ Public Investment Limited from six to 10 percent.

It was further agreed that 10 percent of the company’s shares would be distributed among 20,000 local shareholders, with payments covered through dividends and bonuses. Likewise, the company’s annual social responsibility fund will be increased from Rs 4.9m to Rs 25m.

This is the first time in 25 years of operation that shares have been distributed to locals. “The residents of Bhotekoshi have long demanded ownership in the project. The company has finally agreed to give us 10 percent shares,” said Pasang Nurpu Sherpa, Chairperson of Bhotekoshi Rural Municipality. “We are happy with the agreement, but attention must be paid to its legal aspects.”

Chief District Officer Bandhu Prasad Bastola said the agreement has created an environment for the project’s regular operation. “The company has agreed to provide 10 percent shares for free,” he told protesters. “You should now focus on securing the shares under your company’s name. I will help coordinate with the project.”

He warned that if the agreement is not implemented, locals have the right to halt the project again. “If both parties honor the deal, there will be no issue,” he said. “But if implementation falters, we may see renewed obstruction, which we must avoid.”

Bhotekoshi Power Company Assistant Manager Babin Pradhan urged locals to ensure the project’s peaceful operation. “The project has already suffered huge losses during the protest,” he said. “Now that their demands have been addressed, we hope operations will continue smoothly.”

Back on 24 Dec 2014, the project had reached an agreement to provide six percent shares to locals in the presence of political party representatives. However, locals claim that the written agreement signed by MPs and leaders of five major parties—including the Nepali Congress, CPN-UML, Unified Maoist, CPN-Maoist (Baidya), and Rastriya Prajatantra Party—was never implemented, forcing them to protest again.

During the recent GenZ movement, locals under the banner of the Bhotekoshi GenZ Group had shut down the project demanding 10 percent free shares. The company initially expressed readiness to provide 10 percent shares but not free of cost, prompting the month-long closure.

On Sept 18, following a meeting between company officials and local representatives, youths vandalized the rural municipality office. Initially, 95 percent of the project’s shares were owned by American company Panda Energy. They were later acquired by Tara Management Company, owned by Nepali businessperson Siddhartha Shamsher Rana.

The project’s ownership will be transferred to the government in five years and fully in six years. Since there is no clear legal provision regarding what happens to shares held by locals after government takeover, experts say that as a private entity, Bhotekoshi Power Company can legally distribute its shares as personal property.

Due to the month-long shutdown, the company incurred losses of over Rs 300m. “We lost about Rs 10m per day in electricity sales,” said Assistant Manager Pradhan. “We hope such a situation will not repeat.”

Earlier, Minister for Energy, Water Resources and Irrigation Kulman Ghising had said that while locals have the right to demand shares, any decision must comply with laws and regulations. During his inspection of the Middle Bhotekoshi Hydropower Project last week, he remarked, “Electricity generation at Upper Bhotekoshi has been halted for a month due to local obstruction. Even if free shares are demanded, the issue must be resolved lawfully. The government is working to resume operations by coordinating with the company and the locals.”

A case has been filed against CPN (Maoist Center) leader and former Speaker Krishna Bahadur Mahara, who was arrested in a gold smuggling case.

The District Attorney's Office filed a case against Mahara at the Kathmandu District Court today.

Prosecutors have demanded a recovery of Rs 85, 528, 374 from him along with maximum prison sentence under the organized crime law.

A team of the Central Investigation Bureau (CIB) of Nepal Police on Sunday apprehended from Lalitpur to investigate the smuggling case of 61 kg of gold hidden in 'break shoes'.

Earlier, Mahara was arrested from Bhairahawa in the gold smuggling case on March 18, 2024.

Later, the public prosecutor’s office on the recommendation of the CIB investigation officer released him on a general date.

The price of gold reached an all-time high in the domestic market on Monday, setting a new historical record.

According to the Federation of Nepal Gold and Silver Traders, the price of gold has increased by Rs 2, 400 per tola to reach Rs 240, 400 per tola today. It was traded at Rs 238, 000 per tola on Sunday.

Similarly, the price of silver has increased by Rs 95 and is being traded at Rs 3, 220 per tola.

China’s exports to the United States fell 27% in September from the year before, even though growth in its global exports hit a six-month high, Associated Press reported.

Customs figures released Monday showed that China’s worldwide exports were 8.3% higher than a year earlier, at $328.5 billion, surpassing economists’ estimates. That was markedly better than the 4.4% year-on-year increase in August.

Imports grew 7.4% last month, significantly better than a 1.3% increase by year in August, although a weaker domestic economy and a real estate sector downturn continue to weigh on demand and consumption, according to Associated Press.

US President Donald Trump is considering sending Tomahawk long-range cruise missiles to Ukraine, saying it would provide "a new step of aggression" in its war with Russia.

When asked on Air Force One if he would send Tomahawks to Ukraine, Trump replied "we'll see... I may".

It follows a second phone call at the weekend between Trump and Ukrainian President Volodymyr Zelensky, who pushed for stronger military capabilities to launch counter-attacks against Russia.

Jungle safari has resumed in Shuklaphanta National Park.

The park administration has opened the jungle safari for tourists in Shuklaphanta from Monday.

Jungle safari for visitors to the park remain closed since the onset of monsoon after the road was damaged due to rain. It is now open, said the park's information officer Purushottam Wagle.

The safari has resumed only on the specified route, with only two routes opened at present.

As repair work is underway on other routes, tourists will have to reach Singhapur via Majhagaun Bathaniya Taal, Baba Taal, Dudhiya Camp, Rani Taal and return via the same route.

Similarly, the park administration has announced that the park safari has been opened from Majhagaun Paliyaphanta-Hattisar Chowk to Barkola Post and back via the same route.

Spread over an area of 305 square kilometers, Shuklaphanta National Park is famous for its reindeer.

There are more than 2,323 reindeers in the park. In addition, various species of birds can be seen around the lakes and rivers inside the park.

The park is home to 56 species of reptiles, 15 species of amphibians, 88 species of fish, 111 species of butterflies, 461 species of birds and 56 species of mammals, according to the park office.

Tourists visiting Upper Mustang have been urged to take necessary health precautions.

With the number of tourists visiting Upper Mustang falling ill due to high altitude sickness, the Lomanthang Rural Municipality has issued a public notice urging all visitors to take precautions.

The notice issued by the Rural Municipality Chair TashinarbuGurung states that the extreme cold in Upper Mustang is increasing and tourists visiting high altitude areas are falling sick.

During this season, tourists visiting the Nepal-China Korala border point and Upper Mustang areas have been facing problems due to high altitude and the rural municipality has provided health services to the tourists despite limited resources, the notice states.

The rural municipality has stated that the patients suffering from high altitude sickness are being taken to the provincial hospital in Jomsom through free ambulance service.

Chair Gurung said that since the number of tourists visiting Upper Mustang is increasing after Dashain festival, they have been requested to adopt necessary health safety measures considering the health complications caused by high altitude.

The weather will remain partly cloudy in the hilly areas and mainly fair in the rest of the country.

Light rain is likely to occur at one or two places in the hilly region of Koshi Province.

According to the Department of Hydrology and Meteorology, the weather tonight will also remain mainly fair throughout the country.

There is no substantial effect of the monsoon system, across the country.