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The Nepal Stock Exchange (NEPSE) plunged by 3. 94 points to close at 2,084.09 points on Thursday.

Similarly, the sensitive index dropped by 0. 96 points to close at 379. 46 points.

A total of 11,689,955-unit shares of 304 companies were traded for Rs 3. 76 billion.

Meanwhile, Samling Power Company Limited was the top gainer today with its price surging by 9. 99 percent. Likewise, Citizens Mutual Fund 2 was the top loser as its price fell by 5. 03 percent.

At the end of the day, the total market capitalization stood at Rs 2. 27 trillion.

Ambassador of Australia to Nepal, Felicity Volk, paid a courtesy call on President Ram Chandra Paudel at the Rastrapati Bhawan, Shital Niwas today.

On the occasion, discussions were held on bilateral relations between Nepal and Australia and on matters of mutual interest and concern, the Office of the President said.

President Paudel expressed the confidence that Australia's cooperation for the social and economic development of Nepal-like land-locked countries will further increase in the coming days, not only in its capacity of the prosperous economy of South-East Asia and Pacific region, but as it also has importance presence in the global economic forum.

The CPN-UML has concluded its ‘Resolution for Prosperity’ campaign, traversing the Mid-Hills Highway from Juhlaghat in Baitadi in the west to Chiwa Bhanjyang in Panchthar in the east.

During the campaign, the UML engaged with people from various walks of life and collected their suggestions and grievances. The party has compiled all these inputs and submitted a memorandum to the government, drawing attention to people's concerns.

The document includes 751 demands related to 46 sectors, according to UML leaders. “We collected people’s suggestions and grievances by interacting with different political parties, organizations, local units, and business leaders, among others. It is the government's responsibility to address these concerns,” stated UML Deputy General Secretary Pradip Gyawali.

One of the demands highlighted in the memorandum is a change in the alignment of the Mid-Hills Highway in certain areas. The UML has said in the document that the highway has been routed through unnecessary places due to political pressure and influence. UMl has called for a 'technical audit' of the highway to reduce its length.

“The 1,879-kilometer highway won't be appropriate from a national highway perspective. The length can be reduced by constructing tunnels and viaducts,” UML has stated in the memorandum. “Track opening work hasn't begun in some areas. Similarly, there has been a delay in the installation of the Bailey bridge in Matela of Jajarkot. Contractors leaving work midway should be penalized.”

Rajendra Gautam, chief of UML’s Publicity Department, said that the length of the highway can be reduced by 500 kilometers compared to the under-construction Madan Bhandari Highway.

751-point demand

Province-wise, there are 161 demands from Gandaki, 170 from Koshi, 135 from Sudurpashchim, 113 from Bagmati, 89 from Karnali, 75 from Lumbini, and eight from Madhesh.  The majority of these demands focus on road development, education, tourism, agriculture, horticulture, health, industry, and energy. Local communities have also sought programs for bridge construction, irrigation, building construction, culture preservation and promotion, land management, settlement development, sports, ending caste-based discrimination, water supply, and river training, among others. Most of the demands (157) are related to roads, while 25 demands are related to motorable bridges.

“The increasing demands in the road sector indicate that the mid-hills region is emphasizing on connectivity,” said Gautam. “Some of the demands include shortening the Mid-Hills Highway, managing settlements along the road, and proper management of secondary roads connected to the highway.”

In the education sector, most demands revolve around the management of teaching positions, relief quota teachers, and the quality of education in community schools. Additionally, locals have called for the promotion of archaeological sites along the highway, the preparation of a tourism master plan, and the construction of trekking trails.

“In the agriculture sector, we see great potential for orange and marigold farming in the mid-hills region,” said Gautam.

Similarly, local stakeholders have demanded programs for easy access to health services.

UML has concluded that the construction of the Mid-Hills Highway has made a positive contribution to the mid-hills region, emphasizing its potential for agriculture, horticulture, and animal husbandry. “Since the area is rich in water resources, boasts a clean environment, offers beautiful vantage points for sightseeing, and is rich in the culture, tradition, and lifestyle of different ethnic groups, the mid-hills region holds immense prospects for tourism development,” reads the memorandum.

Migration taking a toll

UML has acknowledged both the challenges and opportunities in the mid-hills region, identifying migration as a major issue in the hilly areas. “Many settlements are becoming empty, and schools in a few places are on the verge of closure due to a lack of students. Farmland has been left fallow,” said Gyawali. “There are only children and the elderly in many settlements.” Gyawali said that the government must dispel misconceptions that nothing can be done in Nepal to check migration. “Lack of market access and fair prices for farm products is one of the reasons behind growing migration in the mid-hills region. We have drawn the attention of the government toward this issue,” he added.

UML has also urged the government to halt the uncontrolled import of vegetable products to support local farmers. Controlling middlemen, providing capital and technology for farmers, implementing crop and livestock insurance programs, ensuring a minimum support price, and facilitating market access for farm products are some of the suggestions given by the party.

Additionally, the party has drawn the attention of the government toward crop loss caused by wildlife such as monkeys and wild boars, as well as irrigation problems due to receding water levels because of the impacts of climate change. UMl has sought concrete programs to address these issues.

Slow progress of development projects

The UML has expressed dissatisfaction with the slow progress of transformative projects in the region, such as Bheri-Babai, Sunkoshi-Marin, and Pushpalal Mid-Hills Highway. Additionally, it highlighted that initiatives such as health insurance, basic hospitals, and the establishment of government medical colleges in each province have not advanced. Furthermore, the budget for strategic road projects has been unfairly reduced, it alleged..

The party concluded that extreme favoritism has become evident in development work. Laxity in project execution and economic recession have plunged businesses related to construction materials into crisis, with a lack of coordination hindering infrastructure development efforts.

Gyawali added that the party has brought to the government’s attention deliberate attempts to undermine nationally significant projects initiated by the UML. He cited examples such as the non-construction of the main dam of Bheri Babai despite the completion of the diversion tunnel. “While tunneling work in Sunkoshi Marin is nearing completion, other components of the projects are not progressing at a similar pace,” he added.

The UML has also said that the plan to build 10 new cities along the Mid-Hills Highway, initiated 14 years ago, is in limbo. Gautam stated that the government has reduced the budget for this component of the highway project.

The initial plan aimed to create cities equipped with modern services and infrastructure capable of accommodating at least 100,000 residents each. A primary objective of these cities was to control migration.

Lack of coordination

Stating that a lack of coordination among government agencies is affecting infrastructure projects, including highways, the UML called for proper coordination among line agencies. “The construction of the Mid-hills Highway has been affected in Gorkha and Dhading districts due to the proposed Budhigandaki Reservoir project. Similarly, the road section in Ramechhap has been unnecessarily extended to avoid inundation by the Sunkoshi-Marin project,” UMl said in the memorandum. “Lack of approval for a bridge over Karnali by the proposed Betan Karnali Hydropower Project is forcing locals of Achham to undertake a nearly 400-kilometer journey to reach provincial headquarters in Dhangadhi.”

Three people have so far died of viral fever at Purumuru village of Soru Rural Municipality-6 in Mugu.

The deceased have been identified as Hari Bahadur Shahi (72), Kriti Chantyal (75) and Kushum Dholi (24), according to local resident Karnajit Bumi. The prevailing fever is suspected to be viral.

The outbreak has affected multiple areas, including Jima, Bhiee, Natharpu, Sipa, Khyalcha, and Bumcha, in addition to Purumuru.

The District Hospital in Mugu is grappling with an influx of patients, and locals have raised concerns about the lack of medical and other support from the government. Karnajit Bumi expressed the desperation of the people in seeking assistance.

Reports indicate that local health posts are running out of essential supplies, including basic medications like paracetamol. In response to the situation, the District Health Office officials visited Purumuru and Jima on Tuesday, and conducted health checkups for over 150 individuals.

District Hospital's Dr Kamal Dhungana explained that the viral fever is exacerbated by the increasing cold and it is expected to take some time to bring the situation under control. Symptoms of fever include continuous sweating, headache, muscle pain, loss of appetite, and fatigue.

The Shree Swasthani Brata Katha, a popular ritual observed by the Hindus since Push Shuklapurnima (full moon day), is beginning from today. The festival ends a month after in Magh Shuklapurnima.

Nepalis, especially the Hindu women, observe the month-long festival worshiping four-handed deity Swasthani with Chakra, Trishul, Sword and Lotus in each hand at the center while Astha Matrika or eight deities of power Mahakali, Baishnavi, Brahmi Maheshwori, Kaumeshwari, Barahi, Indraayani, and Chamunda painted around her and reciting Swasthani Brat Katha (story) every day.

The month-long telling ritual is dedicated to the goddess and the stories that are mainly narrated are those of Swasthani Devi, God Shiva and other gods.

It is believed that goddess Swasthani helped goddess Sati overcome her troubles after she burnt herself at Dakhsya Prajapati’s Yagya, after hearing her husband, lord Shiva, being insulted.

As per this, goddess Swasthani helped Sati Devi overcome the troubles and then to reincarnate and win over Lord Shiva as her husband again.

During the Swasthani katha, Hindu married women observe Brata or fasting for the wellbeing of their husbands and unmarried women observe the Brata in order to get a good husband. Women wear red-colored clothes and bangles during the one-month period as it is believed that red is a sign of good luck.

The rituals associated with the Swasthani Katha take place on the bank of rivers in various Hindu shrines across the country.

In Kathmandu, the festival takes place at Shalinadi, a river associated with the Swasthani Brata Katha, situated in Sankhu. Devotees visit Salinadi bank near Sankhu, worship goddess Shree Swasthani, Navaraj Brahman, Goma Brahmani, Chandrawati by visiting different shrines.

Voting is in progress at the designated polling stations and centers in the capitals of the seven provinces for electing 19 members of the National Assembly (NA). The 19 seats in the Upper House of the Federal Parliament are falling vacant on March 4.

The Election Commission has fixed 9 am to 3 pm today for voting. It stated that counting of votes would be started immediately after the voting concludes.

Election Commission's deputy spokesperson Shreedhar Panthi said voting is under way in all the seven provinces.

According to him, the election results would be announced today itself. The electoral college comprising the Province Assembly members and the chairpersons and vice-chairpersons of rural municipalities, and the mayors and deputy mayors of the urban municipalities will take part in the voting.

A single vote of the Province Assembly member has a weightage of 53 and that of the chair and vice-chair of rural municipalities and mayor and deputy-mayor of urban municipalities carries a weightage of 19. The total vote weightage is 57 thousand 559.

Two thousand and forty-seven voters, including 549 Province Assembly members and 1,498 chair and vice-chair of rural municipalities and mayor and deputy-mayor of urban municipalities will cast their votes in the election.

The Commission for the Investigation of Abuse of Authority arrested Sunil Paudel, former managing director at Nepal Telecom and Bikal Paudel, former executive director at Security Printing Center, on embezzlement charges on Wednesday. 

A CIAA team raided their homes, seized documents and took the two under control after they allegedly did not heed to the summons to record their statements vis-a-vis a corruption case filed at the Special Court against nine individuals on the charge of embezzling funds totaling Rs 232.75m during the procurement of software for National Payment Gateway in 2018 for $1.98m to digitize all financial transactions.

Those chargesheeted include government secretary Madhu Kumar Marasini, chair of the National Information Technology Center Sanjay Sharma, then executive director at the center Pranita Upadhyay, Paudel and others.  

The two are to be produced before the Special Court on Thursday.

In April last year, CIAA had moved the Special Court against Bikal Paudel and eight others, accusing them of embezzling around Rs 690.88m while procuring equipment for the printing press.

They were allegedly involved in preparation and approval of an unnatural cost estimate, accepting the supply of substandard electric transformers by going against the contract and making payment for a generator produced in a country other than that specified in the contract.

The equipment was procured for operating the security printing press that the government had planned to set up. The Office of the Auditor General had raised questions about the procurement process.

Even after filing the case, the two were dragged further into investigation on the suspicion of misappropriating the office’s resources and sending the property abroad.

Annually hundreds of people have been untimely losing their lives in the Kathmandu Valley due to road accidents.

According to the Kathmandu Valley Traffic Police Office, as many as 88 people have lost their lives in 5,865 road accidents in the first six months of the current fiscal year. Likewise, 148 people were critically injured and 4,438 persons sustained minor injuries.

Most of the deceased in the accidents are motorcyclists and pedestrians.

Senior vice-president of the National Federation of Nepal Transport Entrepreneurs Punya Prasad (Saroj) Sitaula said that two-wheelers in the Kathmandu Valley are more prone to accidents.

"High speed of motorcycles and scooters and pedestrians rampantly crossing the road have caused the highest number of fatalities in Kathmandu", he said.

Spokesperson of Kathmandu Valley Traffic Police Office, Senior Superintendent of Police Rajendra Prasad Bhatta, said that the traffic police have been conducting various awareness programs to reduce the number of vehicle accidents in the Valley.

"We have been tightening the checking of alcohol consumption to reduce accidents, rules prohibiting vehicles from plying at a speed of more than 50 kilometers per hour to control speeding, checking the status of vehicles and whether there are two drivers in long-distance vehicles," he said.