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The death toll in a jeep accident in Palpa has reached 10.

Eight people died on the spot while two breathed their last during the course treatment at the Lumbini Medical College.

Eighteen people were injured in the accident.

According to the District Police Office (DPO), Palpa, the accident took place at Masyam of Tinau Rural Municipality-6 in the district on Tuesday. The injured have been sent to Lumbini Medical College in Palpa for treatment.

The tragedy occurred when the jeep (Lu 1 Ja 2371) heading towards Chidis, Kusumkhola in Palpa from Dumre in Tanahun district veered off the road and fell some 300 meters down the road near Eco Farm House at Masyam.

The deceased have been identified as 60-year-old Yan Kumari Panta, 39-year-old Ram Bahadur Aslami, 67-year-old Krishna Bahadur Aslami and 28-year-old Urmila Aslami of Masyam, Tinau Rural Municipality-6.

Chandra Ranapal (70) and Chuna Ranapal (60) of Tamnagar, Butwal Sub-Metropolitan City-14, Rupandehi district also died in the accident.

Similarly, the casualties include 20-year-old Gita Sunar of Khursane, Tinau-2, 66-year-old Bishnukala Kami and 65-year-old Dil Kumari Sunar of Khyaha, Ribdikot rural municipality-1, and 29-year-old Dilmaya GC of Devdaha Municipality-5, Rupandehi, said Inspector Sugandha Shrestha, the Information Officer at the District Police Office, Palpa.

According to him, the jeep driver, 45-year-old Dan Bahadur Chidi of Tansen Municipality-10, has been arrested for investigation.

Nepal Police have arrested 89 people on the charge of human trafficking in the period of six months of current fiscal year from July 17, 2023 till January 14, 2024. Among the arrestees, 67 are men and 22 women.

Similarly, police filed 79 cases while 149 individuals have faced prosecution during the same period. The Human Trafficking Investigation Bureau, Babarmahal has been working as a specialized unit of the Nepal Police for the prevention and control of crimes related to human trafficking.

The Bureau said 236 persons have been rescued from being trafficked in that period. Among those rescued, 150 are women, 26 are men and 60 are girls.

Nepal is the most affected from both internal and cross-border human trafficking. Nepal Police central spokesperson, Deputy Inspector General Bhim Prasad Dhakal, said a large number of Nepali fall victim to human trafficking due to the allurement of employment or illegal settlement in various countries, including in India, Malaysia, Qatar, Saudi Arabia, Libya, Bahrain, Kuwait, the United Arab Emirates, America and different European and African nations.

Minister for Water Supply Mahindra Raya Yadav has asserted that the government is effortful in managing water supply in the Kathmandu Valley throughout the year.

Addressing a program marking the 16th anniversary of Kathmandu Upatyaka Khanepani Limited (KUKL) here on Tuesday, he said efforts are on to find available water sources at the various local levels in the Valley to that connection.

"There is a demand of 510 million liters water daily in the Valley, whereas we have been able to supply only 170 million liters at present," Minister Yadav said, adding that discussions are going on regarding the local governments identifying and conserving water sources at the local level for providing clean water to the Valley folks.

On the occasion, he stressed on the need of restructuring the KUKL for addressing the problem of water shortage in Kathmandu Valley. The Water Supply Minister also acknowledged that the state has not been able to supply adequate quantity of water to the Valley from the Melamchi Water Supply Project despite the passage of 22 years since making that promise.

According to him, the Melamchi Water Supply Project could not regularly supply water to the Valley due to the lack of physical structures, technical workforce and the required equipment, among other causes.

He also expressed concern over the drying up of water sources and brooks, and snow melting in the mountains due to the climate change, stressing on taking steps to mitigate this to prevent the impending water crisis in the country.

The Nepal Stock Exchange (NEPSE) plunged by 30.56 points to close at 2, 070. 59 points on Tuesday.

Similarly, the sensitive index dropped by 5. 99 points to close at 369. 99 points.

A total of 12,165,202-unit shares of 205 companies were traded for Rs 4. 66 billion.

Meanwhile, Bottlers Nepal (Balaju) Limited (BNL), Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) and Super Mai Hydropower Limited (SMH) were the top gainers today with their price surging by 10. 00 percent.

Likewise, Gurans Laghubitta Bittiya Sanstha Limited (GLBSL) was the top loser with its price dropped by -9. 70 percent.

At the end of the day, the total market capitalization stood at Rs 3. 25 trillion.

More than 500 savings and credit cooperatives across the country are not in a position to return depositors’ money, say cooperative victims.

Harish Chandra Shrestha, coordinator of the National Campaign for the Protection of Cooperative Depositors, said these cooperatives have embezzled hard-earned savings worth Rs 65bn from hundreds and thousands of depositors.

According to the Department of Cooperatives, there are more than 32,000 cooperative organizations across the country. These organizations have mobilized deposits from 7.3 million members and have a combined share capital of Rs 94bn. Likewise, they have mobilized Rs 478bn in deposits and invested Rs 426bn in loans.

“Many of those who embezzled people’s money parked in cooperatives are now affiliated with different political parties. Some have fled the country,” Shrestha said. “Most of the promoters of cooperatives are affiliated with one party or another. They become lawmakers and formulate laws that suit them. That is why the voices of cooperative victims go unheard.”

16 cooperatives ‘troubled’, Rs 13.5bn at risk

Dozens of cooperatives across the country have run into trouble. The government has declared 16 of them as ‘troubled’ institutions. Deposits worth Rs 13.14bn of 272 members are stuck in 15 out of these 16 cooperatives, according to the department.

The government, for the first time in 2018, declared 19 cooperatives—Standard, Standard Multipurpose, Kuber, Pacific, Prabhu, Chartered, Consumer, Kohinoor Hill, and Vegas—as troubled. Societal, Lunibha, Oriental, Pashupati, Tulsi Multipurpose, Shiva Shikhar, and Hamro Naya Krishi were added to the list later on. Of them, Oriental alone has mobilized Rs 3.19bn from 259 members. More than 600 depositors of Oriental have complained to the government, stating that they deposited the money for apartment units developed by Oriental chairman Sudhir Basnet.

The government declared Oriental ‘troubled’ a year ago.

Cooperative institutions that are unable to conduct financial transactions are declared as ‘troubled’ on the recommendation of the department.

Kashi Raj Dahal, chairman of the Troubled Cooperatives Management Committee, said cooperatives doing financial transactions and those based in urban areas have run into trouble. “About 500 cooperatives are in a situation of trouble. Of them, 145 come under the ambit of the federal government and 16 of them have been declared as ‘troubled’ institutions,” he added.

According to Dahal, the committee has already cleared all the liabilities of three ‘troubled’ cooperatives—Standard Multipurpose, Kuber, and Chartered. Likewise, the committee is in the process of clearing liabilities of two more cooperatives—Societal and Lunibha, he added. “As for other troubled cooperatives, the committee is searching for assets of their promoters and lenders. Frozen assets of these people are in the process of being auctioned off,” Dahal said.

According to the department, more cooperatives are being added to the list of troubled institutions. “We are investigating the financial transactions of six cooperatives. We will seek clarification from the promoters after the study is complete. If their clarification is not satisfactory, we will declare them as troubled,” Tol Raj Upadhyaya, the information officer of the department, said.

Why did cooperatives fail?

The committee has said that most of the cooperatives that have been declared as troubled institutions were facing a shortage of resources, means, and workforce. Many promoters are found to have used money collected as deposits to buy fixed assets and pledging them as collateral to take bank loans.

“Many cooperatives are found to have violated the norms. Some promoters lacked the expertise to run institutions that mobilize people’s money,” Dahal said. “Some promoters had the bad intention of misusing depositors’ money for personal gains. Those misusing people’s money must be brought to book.”

Dahal also said promoters got free rein over cooperatives due to lack of effective monitoring and regulation by state agencies.

According to the committee, it is facing difficulty in clearing liabilities of troubled cooperatives as assets of promoters are already frozen by the court after investigation by the Central Investigation Bureau of Nepal Police.

Committee chair Dahal said there is a need to give direction to state agencies to facilitate unfreezing of assets of cooperative promoters so that their liabilities can be settled.

Coordinator of the campaign Shrestha said the government did nothing even though a single individual went on to open as many as six or seven cooperatives. “Their motive was never questioned. This is mainly due to a lapse in regulation by state agencies,” Shrestha said. “The lack of monitoring of cooperatives conducting transactions worth billions of rupees speaks volumes.”

Prime Minister Pushpa Kamal Dahal has said that he is effortful to provide justice to victims of cooperatives and microfinances' mismanagement.

During his meeting with a delegation from the Rastriya Swatantra Party (RSP) at the Prime Minister's official residence in Baluwatar today, the Prime Minister assured of addressing the concerns of those affected by the mismanagement of cooperatives and microfinances soon.

On the occassion, the delegation comprising party President Rabi Lamichhane, Vice President Dr Swarnim Wagle and others submitted a memorandum to the Prime Minister seeking the government effective intervention to resolve the problem. 

"I am highly serious about this matter. A large number of depositors have been subjugated to fraud in cooperatives and microfinances," he said, adding that he was committed to ensuring justice to them. The Prime Minister sought the party's support to sort out the matter.

Cooking meals every day can sometimes feel as burdensome as having to do the laundry by hand because the washing machine has decided to stop spinning. If you have children and need to cook multiple meals in a day, it might feel like you spend more time in the kitchen than you do in any other room of the house. While we can’t provide you with the (house)help you need, we can give you some simple hacks that will make cooking a little less (soul-sucking and) time-consuming.

Cut your veggies

Admit it, you go out grocery shopping and come home and shove everything in the fridge or the freezer. Most of us tend to shop in bulk and then put them away till we need them. It’s a great idea to take a few minutes to sort through your veggies, chop them up, put them in resealable bags or plastic bags, and then store them in the fridge. It’s an idea we got from one of our mothers who takes mere minutes to whip up a dish because everything is chopped and ready. You just have to toss everything in the pot over a flame to cook a meal when you have readied your veggies. You will thank us for this one.

Get your spices ready

Nepali food is full of condiments and spices. You need onion, ginger, garlic, chilies, etc. to cook most, if not all, of your meals. Set aside 20 minutes, once a week, and get your masala mix ready. Wash and puree some tomatoes. Peel and chop onions, coriander, garlic, and ginger, and keep them in airtight containers in the fridge. You can also make a puree of onion, ginger, and garlic and use this paste when cooking. Trust us, this one trick will cut your cooking time by half. Not only does this tip save time, it will also keep your counters clean while cooking.

Meal prep once a week

If you plan what you want to eat, say, for a week, it will save valuable time. You don’t have to decide what to make when it’s time for lunch or dinner. So, get out a notepad, or better still buy a weekly planner and plan out your meals. Write what you will be having on which day and for which meal. Once you have that down, get the basic ingredients ready—chopped and all. Pack it in separate containers and put it in the fridge or freezer. When it’s time for a meal, all you have to do is pull out the designated box and cook what’s in it. Alternatively, you can also batch-cook your meals and freeze them.

Have some handy recipes ready

It helps to have an arsenal of simple recipes that you can rely on when you are too lazy to cook an elaborate meal. Write them down on index cards and keep them in a box on the kitchen counter or write recipes out on an A4 paper and put it up on the fridge. It helps if you can see what you can whip up in minutes. Google some simple snacks or one-pot meals and write down their recipes. BuzzFeed Tasty and YouTube also have a lot of under-15-minute recipes.

Try some tricks

Chopping, peeling, mincing, and all can take a lot of time and make cooking tedious. Use a cooling rack to quickly dice hard-boiled eggs and avocados. Put the rack over a large bowl and use a large flat metal spatula to push the food through. To peel garlic, break the head into cloves, and place them all in a metal bowl. Cover with a second bowl and shake vigorously and the garlic skins will come right off. Use tongs to juice a lemon. Slice potatoes with an apple slicer. Keep a wooden spatula over the pot while boiling pasta to keep the water from spilling over. There are many such neat tricks that you can use to make your cooking experience simpler and shorter.

A team of the International Monetary Fund (IMF) has found an investment-friendly environment in the energy infrastructure sector in Nepal albeit various challenges in the country's economy.

The IMF staff team, led by Tidiane Kinda, conducted a staff visit to Nepal from February 5-12, 2024, to discuss recent macroeconomic developments and the implementation of the Fund-supported program.

“Nepal’s external position continues to strengthen on the back of buoyant remittances, increasing tourism activity, subdued imports, and inflation is decreasing. Weak domestic demand, large outward migration, and low credit growth despite monetary relaxation continue to weigh on near-term economic growth. Enhancing domestic revenue mobilization and accelerating the execution of capital expenditure will provide needed support to growth while securing fiscal sustainability. Increased vigilance on banks’ asset quality and stepped-up supervisory efforts are important to preserve financial stability in view of growing non-performing loans," team leader Kinda said in a press note issued at the conclusion of their visit on Monday.

The medium-term economic outlook remains favorable, as strategic investments in infrastructure, especially in the energy sector, are expected to support potential growth. The upcoming Investment Summit presents an opportunity to showcase Nepal’s economic potential. Timely reforms to durably improve the investment climate will help take full advantage of the Summit and pave the way to stronger growth in the future.

The authorities’ ongoing efforts in meeting key commitments under the Fund-supported program, with the support of IMF’s technical assistance, are welcome. Performance under the programme will be formally assessed in the context of the fourth review of the Extended Credit Facility, which is expected to take place in the middle of the year, states the press note.

Gulde-Wolf, Deputy Director in the IMF’s Asia and Pacific Department, attended key meetings.

The IMF team held meetings with the Finance Minister Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Dr Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners.