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The public debt obligation has crossed 45 percent of the gross domestic product of the country.

As per the report published by the Public Debt Management Office, the government loan stood at Rs 2.611 trillion till February 12 of the current fiscal year 2024/25.

"The public debt was Rs 2.434 trillion in the beginning of the current fiscal year and it was added by Rs 176 billion till February 12. The total public debt till February 12 stood at 45.77 per cent of the country's GDP," according to the report.

Of the total public debt, 50.87 percent is external loan and 49.13 per cent internal loan.  The internal loan reached Rs 1.282 trillion while the external loan was Rs 1.328 trillion.

The country faced an additional loan burden of Rs 36.59 billion till the period due to plummeting value of Nepali currency against the US dollar.

The government had set the target of mobilizing Rs 547 billion public debts for the current fiscal year. The Office said it has raised Rs 290.57 billion public loans so far. The total public debt raised so far is 53.12 per cent of the annual target.

The government has the target of raising Rs 330 billion in domestic loans and Rs 217 billion in external loans in the current fiscal year.

The Office said that Rs 229.15 billion towards internal and Rs 61.42 billion towards external public debt has been raised until February 12 of the current fiscal year 2024/25 starting July16, 2024. The loan raised so far towards domestic comprises 69 percent and towards external 28.31 percent of the annual target.

Similarly, the government has allocated Rs 402.85 billion for paying the principal and the interest of the public debt. The Office stated that Rs 178.75 billion has been paid as principal and interest in the last seven months. The debt servicing expenditure until February 12 is 3.31 percent of the GDP.

The price of gold has dropped by Rs 1, 000 per tola (11.66 grams) 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 170,000 per tola today. It was traded at Rs 171,000 per tola on Thursday.

Similarly, the silver is being traded at Rs 1, 990 per tola.

Following the untoward incidents that occurred after the suspicious death of a Nepali student, Prakriti Lamsal, at Kalinga Institute of Industrial Technology (KIIT) some days ago, 159 Nepali students at KIIT have returned home so far via Raxaul border.

Assistant Chief District Officer of Parsa, Suman Kumar Karki, said that 159 Nepali students arrived home from the Raxaul border point on Thursday evening.

Meanwhile, the youth in Birgunj organized a candlelight rally on Thursday evening calling to ensure justice to Prakriti Lamsal and one Rinku Sada, who was murdered after her rape in Siraha district.

A person died and another sustained critical injuries after three motorcycles collided at Nalinchowk of Suryabinayak Municipality-9 in Bhaktapur district last night.

According to the Traffic Police in Bhaktapur, 21-year-old Timba Dorje Tamang of Sunapati Rural Municipality-4, Ramechhap district died while receiving treatment at Iwamura Hospital in Bhaktapur. 

Likewise, Sajan Tamang (24) of Suryabinayak Municipality-9 is receiving treatment in a critical condition at Madhyapur Hospital.

The Policy Research Institute (PRI) and Confederation of Nepalese Industries (CNI) have signed a Memorandum of Understanding (MoU) to work in partnership in policies and research-related areas.

Executive Chairman of PRI Prof Dr Lekhnath Sharma and CNI Director General Ghanashyam Ojha signed the MoU on Thursday to forge collaboration between the two institutions to work policies and industrial matters.

PRI is a government think-tank working to review public policies, programs and strategies through research and analysis and provide policy recommendations to the government.

CNI Director General Ojha said the MoU is aimed at establishing links between industrial fraternity and academia, ensure collaboration on policies and industrial matters, carry out joint research and produce data, and work for capacity building.

The MoU between PRI and CNI is expected to contribute to create a synergy effect in the country's economy through enhanced coordination on drafting of policies.

The tragic loss of Prakriti Lamsal, a 20-year-old BTech (third year) Computer Science student at the Kalinga Institute of Industrial Technology (KITT) in Bhubaneswar, has once again brought to the fore the issue of safety and security of Nepali students studying abroad, India in particular.

Details of what exactly happened on the KITT premises in the evening of February 13 remain quite sketchy, despite widespread media coverage in both India and Nepal as most of the students had gone to attend the institute’s foundation day.  Media reports, quoting friends and batchmates, suggest that the young girl from Butwal was in a toxic relationship with another BTech Mechanical (third year) student identified as Advik Shrivastava (21) from Lucknow, Uttar Pradesh. Tapes of a conversation between the two have surfaced, giving an indication of the extent of abuse that the young girl may have been facing for quite some time, something which some of her friends have also alluded to.

As the case unfolds, there are ample reasons to believe that this tragic loss of life may have gone unnoticed had some of her courageous friends not dared to share it with media outlets despite considerable threats to their well-being via a messaging app.

These reports also suggest that the abusive and unhealthy relationship was no secret for the institute in question as the young, courageous and bright girl had lodged her complaint against the abuser at the International Relations Office. The office intervened to an extent, but there is every reason to believe that it could have done a lot more to protect an international student with hardly any support system in the host country from an abusive relationship.

On the contrary, its staff, including teachers, made a desperate attempt to cover up the entire incident by seeking to silence fellow students demanding justice through unsavory words against Nepal and the use of brute force. As part of that attempt, they forced hundreds of protesting Nepali students to leave the facility, threatening to unleash police against them if they did not oblige.

With no money to foot their travel expenses, hundreds of Nepali students are on their way home amid an appeal (and apologies) from the institute to return for the resumption of their studies even as smoke from their friend’s funeral pyre billows in a faraway Swargadwari (Pyuthan district) just days after her aggrieved father demanded justice and fair treatment for Nepali students in the pilgrimage town of Bhubaneshwar.

Amid a never-ending news cycle, this story may get lost with the government of Nepal already feeling, perhaps, that it has done enough in this case and the institute also thinking that token steps like a scholarship honoring the student and action against some of its loudmouths will restore its reputation.

If our government thinks that a phone conversation or two and a dispatch of officials from the embassy in New Delhi are enough in a case like this, it is mistaken. The traumatized students may hesitate to return to the institution out of safety concerns. Who will be responsible for the impact of this incident on their studies and their future?

Who, if not the government of our country, will make sure that the young girl and her family get justice?

The government should move ahead with extreme sensitivity, keeping in mind that any leniency on its part may expose Nepalis studying abroad to greater risks in the coming days. 

Popular Nepali rock band 1974 AD is set to celebrate its 30th anniversary with a grand musical event, RockYatra-2, in Kathmandu. The event will take place on April 5, Saturday, at the Hyatt Ground, Boudha. More than just a concert, the anniversary event promises to offer an immersive experience catering to audiences of all ages and musical preferences, according to the organizers. 

The event will feature live performances, delectable food stalls, and appearances by renowned celebrities, making it a must-attend occasion for music lovers.

“We aim to create an unforgettable experience for everyone attending this event,” said Anuj Karki, the band’s manager. “We have combined entertainment, culture, and community engagement to make this celebration truly festive for all.”

The 30th-anniversary celebration will showcase performances by top artists, special activities for families, and exclusive festival offers. Whether you’re a music enthusiast, a food lover, or simply looking for a fun-filled day, the event promises something for everyone, as per the organizer.

Tickets for 1974 AD’s 30th-anniversary event are available on eSewa, with special early bird discounts for a limited time.

The UK Government and the British Embassy in Kathmandu hosted the UK-Nepal Business Forum on Tuesday in collaboration with the Government of Nepal, the British Council, and the Nepal-Britain Chamber of Commerce and Industry. The event aimed to strengthen the UK-Nepal economic partnership, enhance trade and investment opportunities, promote inclusive economic development, and expand business-to-business connections.

The program covered topics such as ‘Unpacking Nepal: Market Opportunities for UK Businesses,’ ‘Business Economic Environment for Growth,’ ‘The Benefits of Transnational Education: Opportunities for Nepal,’ and ‘Showcasing the UK’s Export Excellence: Opportunities for Nepal’s Priority Sectors.’

The event featured four panel discussions with Nepali policymakers, private sector leaders, development partners, the diaspora, and thought leaders. Notable attendees included Sushil Gyewali, CEO of the Investment Board of Nepal; Habib Yousuf, Regional Director at British International Investment (UK); Bhawani Rana, Former President of FNCCI; Petra Lenihan, Head of Team South Asia at the Department for Business and Trade (UK); and other experts.

Rob Fenn, the British Ambassador to Nepal, stated, “This facility from British International Investment reflects the UK’s commitment to sustainable economic development in Nepal, benefiting households and businesses throughout the region.”

The session on ‘The Benefits of Transnational Education (TNE): Opportunities for Nepal’ was moderated by Sandeepa Sahay, with panelists Rejina Maskey, Richard Keogh, Shannon Stowers, and Samir Thapa. This session explored the current landscape of higher education in Nepal, including TNE, highlighted opportunities for growth, and identified key areas for quality assurance to enhance educational outcomes.

During the discussion, the panel addressed how TNE could reduce brain drain and foster innovation in Nepal. 

Thapa, Chairperson and Founder Principal of Silver Mountain School of Hotel Management, emphasized, “There is no compromise on the quality of education, as we strive to maintain the same standards offered by universities abroad. Our directive is clear: until we obtain Quality Assurance Accreditation (QAA) from the respective country where the university is based, we are not authorized to run any programs or grant approvals.”

Keogh, Deputy Vice-chancellor at the University of Roehampton, said, “We are committed to reversing the brain drain, which is often linked to limited job opportunities post-graduation. One of our key initiatives is to provide professional experience alongside a strong academic curriculum and extracurricular activities. We invite industry professionals as guest speakers to engage with students and bridge the gap between education and employment.”

He added, “Additionally, we recognize the growing global trend where high-level skilled jobs no longer always require a master’s degree. There are increasing opportunities in sub-degree qualifications, allowing graduates to enter the workforce with specialized skills sooner.”

Stowers, Head of International Policy and Engagement at QAA (UK), stated, “This program focuses on exploring various TNE provisions across different countries, examining active practices, and identifying areas for enhancement. It offers valuable insights and learnings from a diverse range of universities worldwide, ensuring that the programs delivered remain relevant and impactful.”