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Prime Minister Sushila Karki today addressed a meeting of the National Assembly (NA), the first address to the upper house session.

During her maiden address to the NA, the Prime Minister of the election government expressed confidence that the upcoming election would be conducted in an impartial, fair, and calm environment on the scheduled date, March 5.

Addressing the fifth meeting of the 19th NA session, which commenced on January 18, the Prime Minister apprised NA members of the preparations for the House of Representatives (HoR) elections, as well as the government’s efforts to promote good governance, one of its key priorities.

She stated that she assumed office amid various challenges and that she was not driven by personal aspirations for rule. 

PM Karki added that she is keen to hand over the responsibility of the government to a new government to be formed after the HoR elections.

The Prime Minister, whose government was formed following the September 8–9 Gen Z movement, also congratulated the winners of the recent National Assembly elections. 

She further responded to queries raised during discussions on the National Good Conduct Policy Study Report, 2082 BS, presented by Kamala Devi Panta, President of the Committee on Development, Economic Affairs, and Good Governance. 

President Ram Chandra Paudel has called on the Japanese business community to explore investment opportunities in Nepal. 

He reminded that the Government of Nepal is committed to providing all possible support to Japanese investors, according to the President’s Secretariat.

The President made the remarks while addressing an interactive program with the Japanese business community in Tokyo today. 

The event was held on the occasion of the 70th anniversary of the establishment of diplomatic relations between Nepal and Japan. 

On the occasion, President Paudel expressed Nepal’s desire to build a close partnership with Japan’s private sector.

“We have created an overall economic environment that offers lucrative returns to investment along with easy procedures for repatriation of profits and capital. The Government of Nepal is committed to providing full support to foreign investment, facilitating it without conditions, and ensuring the security of investments,” the Head of State underlined. President Paudel is currently on an official visit to Japan that began on February 1.

As Nepal and Japan celebrate 70 years of diplomatic relations, the President said the moment is appropriate to begin deeper cooperation in the areas of mutual benefit. 

He added that Nepal and Japan share cultural ties dating back to ancient times and expressed appreciation for the philosophy of Gautam Buddha. Quoting Buddha, he said, “The victory of peace is one in which nobody loses.”

The President urged Japan again to invest in Nepal with confidence by exploring potential opportunities in agriculture, water resources, and tourism, thereby contributing to Nepal’s prosperity while ensuring benefits to the investors themselves.

“Japan’s investment in Nepal will serve two purposes: securing economic benefits and contributing to service and religious values at the same time,” he commented. According to the President, Nepal–Japan relations, founded on goodwill, friendship and cooperation represent exemplary bilateral relations.

He said the encouraging participation of the business community in such program would be fruitful in establishing robust trade and investment ties between the two countries.

Calling the 70th anniversary historic, the President said that bilateral relations are deepening at the people-to-people level beyond official engagements. 

He also praised Japan’s long-standing support to Nepal, describing Japan as a reliable development partner in Nepal’s socio-economic endeavours.

President Paudel shared that Nepal's efforts are focused on social justice, good governance and people's prosperity along with political stability. Nepal would be upgraded from the least developed country by the end of this year and its graduation to a status of middle-income country by 2030 would be another important achievement for Nepal, he argued.

He opined, "A huge resource is needed for such a campaign. Nepal has focused its attention on attracting maximum foreign investment in the areas of national priority, increasing Nepal's trade, diversifying inter-affiliation, promoting tourism and acquiring advanced technology." 

The Head of the State expressed the belief that no country would be prosperous without working together by government and private sector internally and partnership with other countries at present.

Nepal has opened almost every sector for foreign investment including manufacture, hydropower, tourism, service, information technology, mines and industry based on agriculture, to make trade smooth and to promote innovation by making legal, procedural and institutional reforms following the liberal economic policies, he made aware the business community.  

The President mentioned, "Investment Board Nepal provides a one-door service to big investors. The International Monetary Fund, World Bank and major international credit rating agencies through independent assessments have confirmed that Nepal offers one of the most favourable business environments in South Asia."

In his belief, Nepal's location in between two rising economic giants India and China could offer a huge advantage to the potential investors.

On the occasion, Charge d' Affaires of Nepal to Japan, Harihar Kant Poudel, welcomed President Paudel where Secretary at the Foreign Ministry, Amrit Bahadur Rai, and Joint-Secretary Bhrigu Dhungana made presentations on the potentials of investment in Nepal.

Likewise, some of the members of the Japanese Business Community shared that they were happy after getting to know that there are many opportunities for investment in Nepal, expressing the view that it would contribute to open doors for investment.

The Nepal Stock Exchange (NEPSE) gained 1. 53 points to close at 2, 695. 73 points on Monday. 

The sensitive index, however, dropped by 0. 75 points to close at 459. 16 points.

A total of 23,618,186-unit shares of 334 companies were traded for Rs 1. 56 billion.

Meanwhile, SY Panel Nepal Limited (SYPNL), Shreenagar Agritech Industries Limited (SAIL) and Him Star Urja Company Limited (HIMSTAR) were the top gainers today, with their price surging by 10. 00 percent. 

Likewise, Mithila LaghuBitta Bittiya Sanstha Limited (MLBBL) was the top loser as its price fell by 10. 00 percent.

At the end of the day, total market capitalization stood at Rs 4. 52 trillion.

Israel was expected to reopen the border between Gaza and Egypt on Monday for people on foot, a move that would allow Palestinians to leave the enclave and let back in those who want to return after fleeing Israel's war in the enclave, Reuters reported. 

The reopening of the Rafah border crossing will be limited, with Israel demanding security checks for Palestinians entering and exiting. Israel and Egypt were expected to impose caps on the number of travellers. 

Israel seized the border crossing in May 2024, about nine months into the Gaza war that was brought to a tenuous halt by an October ceasefire brokered by U.S. President Donald Trump. Rafah's reopening was an important requirement under the first phase of Trump's broader plan to stop fighting between Israel and Hamas militants, according to Reuters. 

Japanese Prime Minister Sanae Takaichi's party is likely to score a landslide victory in next week's lower house election, a survey by the Asahi newspaper showed, heightening the chance the country will continue to pursue big spending and tax cuts, Reuters reported. 

A strong showing in Sunday's election would solidify Takaichi's grip on her party and give a mandate for her expansionary fiscal policy, which could heighten concerns about Japan's finances and push bond yields higher.

"Implementing expansionary fiscal policy at a time the economy is at near full employment would heighten inflationary pressure" and weaken the yen, said Ryutaro Kono, chief Japan economist at BNP Paribas, according to Reuters. 

A 132-kV transmission line has come into operation in Karnali Province, marking the first transmission line operated by the Nepal Electricity Authority (NEA) in the province.

According to NEA Managing Director Hitendra Dev Shakya, the launch of the 132-kV Surkhet transmission line under the Kohalpur–Surkhet–Dailekh Transmission Line Project is expected to accelerate economic growth in the province.

Karnali had long been facing problems such as system overload, frequent power supply disruptions, and low voltage, as it relied solely on a 33-kV transmission line. With access to high-capacity transmission services, the province is now expected to witness industrial development with increased power consumption.

Project Chief Rabi Kumar Chaudhary said that construction of the approximately 52-kilometre Kohalpur–Surkhet section has been completed as directed by the NEA. 

He added that work on the second phase, covering the Surkhet–Dailekh section, will now be intensified.

Constituent Assembly member and former minister Jitendra Dev has quit the CPN-UML. He issued a statement on Feb 2 informing that he has quit the UML due to disagreement with the party’s ideology, policies and practices that lead it towards individualism and deification and to operate it in an arbitrary and discriminatory manner.

Dev from Saptari was in UML politics for a long time and after leaving the UML, he joined the Madhesi Janadhikar Forum Loktantrik led by Vijay Kumar Gachhadar and became a member of the Constituent Assembly.

After the Forum Loktantrik merged with the Congress, he again left the party where he was a member of the National Assembly from the Congress. After the term of the National Assembly member ended on March 3 2024, he returned to the UML on July 1 2024.

The United Arab Emirates (UAE) government has forgiven 267 Nepali prisoners on the occasion of the 54th National Day (Eid Al Etihad).

The government of Nepal has welcomed this as a humanitarian and friendly step and expressed its gratitude to the UAE government. According to the Ministry of Foreign Affairs, the decision to pardon was taken following the initiative of the Nepali Embassy in Abu Dhabi and a request made as per the instructions of the Ministry.

If there are no other legal cases or restrictions, the Nepali citizens will be able to return home after completing the necessary legal procedures.