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The Supreme Court on Thursday quashed the decision of the President to grant amnesty to Yog Raj Dhaka aka Regal, who was sentenced to life imprisonment for the murder of Chetan Manandhar of Nepalgunj.

Organizing a press conference, the Supreme Court informed that a full bench of Justices Ishwar Prasad Khatiwada, Sapana Pradhan Malla and Kumar Chudal annulled the decision of President Ram Chandra Paudel to pardon Regal.

The Supreme Court has issued a mandamus order to arrest him immediately.

Though the hearing against the decision to grant amnesty to Regal was concluded on Wednesday, the decision was announced only today.

On September 19, President Paudel pardoned Regal as per the government’s recommendation on the occasion of Constitution Day.

Against the same decision, Chetan Manandhar’s wife Bharati Sherpa Manandhar filed a writ petition at the apex court demanding the arrest of the Regal again.

The President’s Office, Office of the Prime Minister and Council of Ministers, Home Ministry, District Administration Office, Banke, District Prison Office, Dang, District Administration Office, Dang and Office of the Attorney General, Kathmandu were made defendants in the case.

Regal had killed Manandhar in broad daylight by using a khukuri on July 14, 2015.

In April, he was convicted of the murder and was slapped with 20 years imprisonment by the Banke District Court.

Bharati had started a hunger strike in Maitighar, Kathmandu following Dashain festival demanding justice for her husband.

The Nepal Stock Exchange (NEPSE) plunged by 10. 86 points to close at 1,847.70 points on Thursday.

Similarly, the sensitive index dropped by 2. 19 points to close at 357. 76 points.

A total of 3,749,954-unit shares of 281 companies were traded for Rs 964 billion.

Meanwhile, Chandragiri Hills Limited was the top gainer today with its price surging by 6. 04 percent. Likewise, Sayapatri Hydropower Limited was the top loser as its price fell by 10. 90 percent.

At the end of the day, the total market capitalization stood at Rs 2. 84 trillion.

The sugar shortage in the market is expected to persist until the Tihar or Chhath festivals due to the government-owned trading companies’ inability to secure sugar supplies.

The government has entrusted the Salt Trading Corporation (STC) and Food Management and Trading Company (FMTC) with the task of importing 10,000 tons of sugar. Although these companies initiated a global tender for procurement, the quotations from suppliers came in at an exorbitant price, according to a high-ranking official from the industry ministry. The official revealed that the suppliers quoted a price of $832 per ton before factoring in the 40 percent duty imposed on sugar exports by the Indian government. This would have led to significantly inflated sugar prices in the local market. As a result, the state-owned companies abandoned their procurement process.

Mukunda Prasad Nirauala, the secretary at the Ministry of Industry, Commerce, and Supplies, said it would be difficult to import sugar until the Indian government loosens sugar exports. Speaking at a meeting of the Agriculture, Cooperatives, and Natural Means Committee of the parliament on Tuesday, Nirauala acknowledged that despite the government's best efforts to ensure a smooth supply of the popular sweetener, the situation has remained difficult.

India has imposed export duties on sugar to stabilize domestic prices after experiencing a drop in sugar production. According to Reuters, sugar prices in India have reached a six-year high. Maharashtra State, the largest sugar producer in India, has projected a 14 percent reduction in sugar production this year.

Nepali sugar mills produce around 120,000 tons of sugar annually, while the demand is estimated to be around 270,000 tons. The supply shortfall is met through imports by private sector entities as well as state-owned trading agencies. To ensure smooth availability of sugar during the Dashain-Tihar-Chhath festive season, the cabinet meeting authorized STC and FMTC to import 10,000 tons each.

Sugar industry representatives had previously urged the government to import 40,000 tons of sugar to address supply concerns in late July. In response, the Ministry of Industry, Commerce, and Supplies (MoICS) forwarded import proposals to the finance ministry on Aug 3 and Aug 16. However, the finance ministry delayed its decision on these proposals.

It wasn’t until Sept 13, when the market was already grappling with a sugar shortage, that the finance ministry finally gave the green light to import 20,000 tons—half of the quantity initially requested by the industry ministry. Sugar prices, which were around Rs 105 per kg in late August, have surged to as high as Rs 150 per kilogram at some retail outlets.

Nepal faced a five-run defeat at the hands of Oman in the ongoing ICC T20 World Cup Asia Qualifier at Kirtipur-based Tribhuvan University Cricket Ground on Thursday.  

With this victory, Oman became the winner of Group 'A' while Nepal first runner-up.

Chasing the target of 146 set by Oman, Nepal were restricted to 140-9.  

For Nepal, Bibek Yadav scored highest 39 runs off 24 balls while Kushal Bhurtel 26, Karan KC 15 and Sandeep Jora 12. 

Oman's Bilal Khan took three wickets while Aqib Ilyas, Shakeel Ahmad and Mehran Khan claimed two wickets each. Likewise, captain Zeeshan Maqsood claimed one wicket. 

Earlier, invited into bat first after losing the toss, Oman scored 145 in allotted 20 overs at the loss of nine wickets.

For Oman, Zeeshan Maqsood made 32 runs off 26 balls. Similarly, Naseem Khusi scored 25, Pratik Athavale 24, Shakeel Ahmad 22 and Ayaan Khan 18.

For Nepal, Karan KC took three wickets while Sompal Kami and Sandeep Lamichhane claimed two wickets each. Likewise, Gulshan Jha and Avinash Bohora took one wicket each.

Nepal will play against the UAE, the winner of Group 'B' in the semifinals on Friday.

The National Human Rights Commission has retained its ‘A’ status amid fears that it could be downgraded due to a flawed process of appointment of office-bearers.  

At its first session of 2021, GANHRI Sub-Committee on Accreditation (SCA) had decided to conduct a special review of the accreditation status of the NHRC.  SCA had taken such a decision after a group of civil society organizations alleged that the 2021 appointment process of NHRC was inconsistent with domestic laws and essential requirements of the Paris Principles (PP). 

At its second session of 2021, SCA had decided to defer the review of NHRC to its second session of 2022, with the judgment of the constitutional bench of the Supreme Court over the legality of appointments made by the KP Sharma Oli-led government pending.  

SCA has expressed satisfaction that the information provided by NHRC demonstrates full compliance with PP. It has encouraged NHRC to continue to advocate for amendments to the NHRC Act to provide for a selection and appointment process that complies with PP. The verdict of the SC on the legal challenge to the appointments of NHRC in 2021 has not yet been delivered and that a hearing date has been set for 6 Dec 2023.  SCA has further stated that NHRC should take reasonable steps to enhance its effectiveness and independence, which has been largely questioned after the flawed appointments in 2021.

 NHRC has been suggested to continue its cooperation and actively engage with OHCHR and other international regional and national level organizations to effectively discharge its mandate. The SCA has provided following recommendations: Publicize vacancies broadly;  maximize the number of potential candidates from a wide range of societal groups; promote broad consultation and/or participation in the application, screening, selection and appointment process. 

SCA emphasizes that, to function effectively, an NHRI must be provided with an appropriate level of funding in order to guarantee its independence and its ability to freely determine its priorities and activities. It must also have the power to allocate funding according to its priorities. It encourages the NHRC to continue to advocate for an appropriate level of funding to carry out its mandate, including the work at the grassroots with its 10 field offices.

The government has decided to end the ongoing session of the Federal Parliament without endorsing the Truth and Reconciliation Commission (TRC) bill.

A Cabinet meeting held on Thursday morning made the decision to this effect, the Prime Minister’s press advisor Govinda Acharya said.

The government has decided to recommend President Ram Chandra Paudel to end the House session from midnight on Thursday.

Senior leaders of various political parties are scheduled to address the Parliament meeting slated for 11 am today.

Foreign Minister NP Saud, who is presently on an official visit to the United States of America, has urged the US business community to invest in Nepal, citing that Nepal offers better investment opportunities.

He said that Nepal has created an investment-friendly environment, including constitutional provisions that allow foreign investors to take back profits and capital to their home countries. Minister Saud assured the US investors that the Nepal government is dedicated to further promoting an investment-friendly atmosphere and making Nepal an attractive destination for investment.

During an interaction with the members of the US Chamber of Commerce in Washington DC on Wednesday, he urged the US business community to consider expanding investment in Nepal. He talked about the high potential for exporting electricity generated in Nepal to neighboring countries when there is a growing need to promote the use of clean energy to reduce carbon emissions. In this situation, the US investors are likely to make good profits by investing in Nepal, according to the Minister.

Describing information technology as another promising area for the US investment in Nepal, he said,' I am confident that IT will be a game changer in Nepal's economic transformations.'

He informed the Chamber representatives that the government has already introduced a new policy allowing the establishment of an IT company with an investment of as low as Rs 100, while other sectors require a minimum investment of Rs 20 million. "Nepal has ensured that investments of up to Rs 100 million do not require prior permission as per an automated system for foreign investment."

On the occasion, the US Chamber of Commerce endorsed the establishment of the American Chamber of Commerce in Nepal.

John G. Murphy, Senior Vice President for International Policy, US Chamber of Commerce and another Chamber Vice President Atul Kashyap said the concerns of US investors regarding Nepal were growing.

The US Ambassador to Nepal Dean R Thompson, Nepal's Ambassador to the US Sridhar Khatri, officials from the Nepali Embassy in Washington DC and the Foreign Ministry employees were also present in the event. 

In recent years, Nepal has accorded top priority to the economic diplomacy and mobilized its diplomatic missions abroad to promote foreign investment and tourism back to home.

The price of gold has increased by Rs 700 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 115, 700 per tola today. It was traded at Rs 115, 000 per tola on Wednesday.

Meanwhile, tejabi gold is being traded at Rs 115, 150 per tola. It was traded at Rs 114, 450 per tola.

Similarly, the silver is being traded at Rs 1,405 per tola today.