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The government has initiated preparations to prioritize programs in the upcoming fiscal year's budget aimed at addressing the challenges that Nepal could face following its graduation from Least Developed Country (LDC) status in 2026.

Concerns have been raised that Nepal’s current benefits in the global market may diminish after graduation. Post-graduation, Nepal will lose certain trade-related intellectual property advantages which could negatively affect Nepali products. However, government officials believe that proactive policy and diplomatic efforts could help mitigate these risks and maintain existing benefits.

In 2021, the UN General Assembly approved Nepal’s transition from an LDC to a developing country, based on the recommendation of the United Nations Committee for Development Policy. 

The Ministry of Finance has been engaging in discussions with relevant agencies to integrate the roadmap for Nepal’s graduation into the upcoming fiscal year’s budget. Intensive consultations have taken place between the National Planning Commission, the Ministry of Industry, Commerce and Supplies, and the Ministry of Finance on the issue.

Officials insist that there won’t be much impact from waiver of facilities post-graduation as it would not affect Nepal’s exports to India, its largest trading partner, which accounts for two-thirds of the country’s total trade. As a close neighbor, Nepal enjoys special concessions under bilateral agreements, which will remain intact even after graduation.

Nepal’s exports to China, where it enjoys duty-free access for several products, will also remain unaffected. Although current exports to China are minimal, the northern neighbor holds significant potential as a future export market for Nepal.

However, exports to other markets, such as the United States, the European Union (EU) and the United Kingdom—where Nepal currently benefits from LDC privileges—could face problems, according to finance ministry officials. They added that grant assistance could also diminish gradually post-graduation.

The finance ministry has stated that preparations are already underway to formulate new policies to address these issues. The goal is to align the graduation process with the budget’s objectives for sustainable development, a finance ministry official said.

During recent discussions, officials underlined the need to develop policies, plans and programs that will ensure the upcoming fiscal year 2025-26 is both smooth and sustainable and aligns with Nepal’s post-graduation strategies.

The finance ministry plans to support sustainable economic growth and job creation through fiscal policy, stable monetary policy and the effective operation of development assistance. Additionally, trade analysis and enhancing capacity and financial access for high-return projects are also among the ministry’s key priorities.

The criteria for LDC graduation include per capita gross national income, human asset index and economic and environmental vulnerability indicators, among others.

Officials say Nepal is expected to benefit from strengthened access to development and business investments, new trade and economic partnerships, sustainable development, enhanced national image, and increased credibility, among others, post-graduation.

It has been nearly two weeks since former King Gyanendra Shah re-emerged into the spotlight of national politics. His resurgence has sparked a wave of criticism and aggressive rhetoric from leaders of major political parties, including former prime ministers, who have resorted to harsh and uncivil language to discredit him. Meanwhile, some politicians have taken to the streets to counter potential royalist protests in the Kathmandu Valley.

On March 9, approximately 13,000 people escorted Shah from the airport to his private residence, marking a significant show of support. Since then, two distinct narratives have emerged in national politics. First, the former king appears to be attempting to establish a unified command to launch Kathmandu-centric protests, appointing Nava Raj Subedi, a veteran of the Panchayat era, to lead the campaign. However, despite Subedi’s broad acceptance, pro-monarchy forces have refused to rally under his leadership. Subedi, previously associated with the Rastriya Prajatantra Party, resigned from his position to take on this new role.

Shah’s immediate challenge is to unite all monarchy supporters under a single banner. Encouraged by the March 9 turnout, he is preparing to tour other parts of the country to garner further support for the monarchy. However, there are indications that the government may restrict his activities if he becomes more politically active, potentially infringing on his constitutional right to free movement.

On the other hand, major political parties are mobilizing their cadres to demonstrate their strength in the streets. The CPN-UML has been engaged in serious deliberations about Gyanendra’s plans to return to power, with senior leaders discussing the potential backing of royalist forces by external actors. The CPN (Maoist Center) and other fringe parties are also preparing to counter royalist movements, signaling that Kathmandu is likely to witness increased protests in the coming days. Nepal’s highly politicized civil society has aligned with mainstream political parties to oppose any potential revival of the monarchy.

Amidst this political tension, pro-monarchy groups have spread misinformation suggesting that the Nepali Army supports the restoration of the monarchy. In response, the army has reaffirmed its commitment to safeguarding Nepal’s independence, sovereignty, territorial integrity, and national unity in accordance with the constitution. The army’s statement comes amid growing calls from royalist factions for the military to play a role in reinstating the monarchy.

There are also murmurs within political and diplomatic circles that certain forces are fueling pro-monarchy protests not to restore the king but to destabilize Prime Minister KP Sharma Oli’s government. Analysts suggest that increased street protests could pave the way for a national unity government, potentially forcing Oli to step down. Reports indicate that Nepali Congress (NC) and Maoist leaders are already discussing the formation of such a government, arguing that only a strong administration can preserve the current political system. Maoist Chairman Pushpa Kamal Dahal is reportedly working to remove Oli from power.

Meanwhile, the coalition government formed by the NC and UML had pledged to amend the constitution, but progress has stalled. However, the NC has taken some steps in this direction. The party’s Professional and Intellectual Department conducted consultations across all seven provinces on constitutional amendments and submitted its report to Party President Sher Bahadur Deuba. The report recommends declaring Nepal a Hindu state in the constitution’s preamble, a move that contradicts the party’s current stance. While support for a Hindu state is growing within the party, there is no significant backing for the monarchy. The report also suggests reducing administrative costs associated with the federal structure, ensuring 50 percent representation of women in state mechanisms, and prioritizing geographical factors over population in electoral constituency delimitation, including reducing the number of constituencies.

In international developments, Foreign Minister Arzu Rana Deuba visited New Delhi to participate in the Raisina Dialogue, where she held bilateral talks with foreign ministers from several countries, including India’s External Affairs Minister S. Jaishankar. Nepal is preparing to invite Indian Prime Minister Narendra Modi to the Sagarmatha Dialogue, and Deuba was expected to extend the invitation during her visit. The Nepali government is focused on attracting high-level dignitaries from both India and China.

In another development, the United States has reaffirmed its commitment to strengthening its partnership with Nepal. A State Department spokesperson stated, “While programs that do not align with American interests have been terminated, the United States remains committed to strengthening its partnership with the Government of Nepal.” The spokesperson emphasized that the US is dedicated to supporting Nepal’s sovereignty by bolstering democratic resilience and promoting economic opportunities. However, negotiations between Nepal and the US have yet to resume following the withdrawal of US support. Additionally, Nepal’s embassy in Washington remains vacant, as Ambassador Lok Darshan Regmi has yet to assume office five months after his appointment. Experts suggest that due to Nepal’s strategic geopolitical location, the Trump administration is likely to continue its aid to counterbalance the influence of India and China.

On the economic front, Nepal’s public debt has increased by 9.93 percent to Rs 2,676.03bn over the first eight months of the current fiscal year, according to the Public Debt Management Office (PDMO). This represents an increase of Rs 241.93bn since mid-July 2023.

There is some positive news as well. Policy reforms introduced by the government through ordinances are beginning to yield results. Nepal recorded its highest foreign investment commitments in the current fiscal year during the eighth month (mid-February to mid-March), with the Department of Industry approving Rs 17.79bn for 40 projects. These projects are expected to create 833 new jobs, bringing the total foreign investment commitments for the fiscal year to Rs 44.66bn across 427 projects. A recent study by the department identified policy shortcomings as the primary obstacle to higher foreign direct investment (FDI) inflows, prompting the government to address these issues through recent ordinances.

In Nepal-China relations, Sichuan Airlines has launched its first international flight to Pokhara International Airport under regular commercial operations. Since its inauguration in January 2023, the airport has struggled financially, and the weekly flights by Sichuan Airlines are expected to provide some relief. Additionally, a business delegation from Sichuan has reached agreements with Pokhara, potentially fostering further economic collaboration.

‘The consumer is the king of the market.’ 

The above quote seems to imply that the consumer holds (almost) tyrannical power over the market.

The quote gives consumer confidence a boost, but not for long against lived experiences, especially in less developed countries and monopoly markets like Nepal where the consumer has remained a paper tiger for long.  

The quote notwithstanding, the situation on the ground is far more sobering in the context of Nepal where consumerism remains an alien concept, where getting cheated in terms of price, quality and quantity has become the norm rather than the exception for the gullible consumer. Here, cartelling, hoarding and black-marketing have become standard business practices and even if one gets caught for resorting to these practices, chances of getting an early release are pretty high, thanks to friends in high places. 

In the name of protecting consumers’ interests, very many organizations have sprouted in Nepal over the decades. But most of these bodies are not independent; they merely are extensions of different political parties. Obviously, they are more interested in pursuing politics in the name of the consumer than taking pains for the protection of consumer rights. 

By the way, what does the Constitution of Nepal, 2015 provide for the (wronged) consumer? 

Article 44 (1) states, in no uncertain terms: Every consumer shall have the right to obtain quality goods and services. 

Article 44 (2) goes: A person who has suffered injury from any substandard goods or services shall have the right to obtain compensation in accordance with law. 

A fitting tribute to consumer rights, right? 

But the consumer needs far more than hollow words, it needs some concrete action to get core concerns addressed. 

For a long time, the conscious consumer has felt the need for a dedicated court to address grievances. The good news is, such a court has finally started operation coinciding with the World Consumer Rights Day (March 15).   

The Consumer Court, established with a mission to expedite legal proceedings and provide swift resolutions to consumer complaints, consists of Kathmandu district court Judge Ram Prasad Sharma as chair and gazetted second-class officers Gehendra Raj Regmi and Ananda Raj Pokharel as members, apart from a registrar for filing cases. 

Now that the long-awaited court has materialized, time has come for the aggrieved people to break the silence and move the court, if need be, for the protection of consumer rights.  

In the lively streets of Malekhu Bazar, where the Trishuli River flows with a soothing rhythm, my childhood memories are filled with the smell of fried fish and the sound of chilled beer bottles clinking. My maternal uncle, Chabilal Marahatta, known as Chap Baje, was a local legend. He started a small stall selling fried fish and aalu chap (spicy potato cutlet fritters), which quickly became a must-stop spot for travelers on the Prithvi Highway. But what made his stall truly unforgettable was the rare appearance of Jala Kapur machha, a fish so special it turned ordinary days into celebrations.

Jala Kapur, meaning “camphor of water,” is known as the king of fish in Nepal. Its buttery texture, few bones, and melt-in-the-mouth quality made it a favorite among those who could afford it. Back then, it was considered a luxury, reserved for the elite. Chap Baje’s stall was a cultural hotspot where travelers, drivers, and officers gathered to enjoy the flavors of Nepal’s rivers.

In those days, there were no mobile phones or fancy electric freezers. Instead, we relied on kerosene-powered fridges, often repurposed from old INGO vaccination programs. These fridges were a rare luxury, and only a few shops in Malekhu Bazar could afford them. Chap Baje was one of them.

Whenever we managed to get a Jala Kapur, it was a big event. The fish, with its delicate texture and rich flavor, was saved for special guests—VIPs, officers, and influential drivers who could make or break a business with their support. I remember the excitement when a Jala Kapur arrived. My uncle would carefully divide it, saying, “This piece is for the Hakim Saab, this one for the driver, and this one for the special guest who might stop by.”

In those days, relationships were built on respect and gratitude. One such tradition was bheti—a small gift or token of appreciation. Whenever we had a prized catch like Jala Kapur or Asala, I would accompany my cousin to deliver these fish as bheti to the homes of officers and influential figures. It was a way of telling them that they were valued and ensuring their continued support.

Jala Kapur, with its firm, buttery flesh, was the star of Chap Baje’s stall. Found in the cold, fast-flowing rivers of Nepal, this fish was a symbol of purity and quality. Its delicate flavor needed little seasoning—just a sprinkle of salt, a dash of turmeric, and a hint of local spices. Whether grilled, steamed, or fried, Jala Kapur was a dish that left a lasting impression.

But Jala Kapur isn’t just delicious; it’s also incredibly nutritious. This cold-water fish is high in protein which is essential for muscle growth and repair. It’s low in fat and thus a healthy choice for weight management. It’s also rich in Omega-3 fatty acids that promotes heart health, reduces inflammation, and supports brain function besides being packed with vitamins and minerals, including Vitamin D, B-complex vitamins, and selenium, which boost immunity and overall health.Its natural diet of aquatic invertebrates enhances its nutritional profile, making it a wholesome addition to any meal.

The term Jala Kapur is a local name used in Nepal, and its scientific classification remains unclear. According to FishBase, the name Jalkapoor is associated with several species, including Pangasius pangasius, Clupisoma garua, Raiamas guttatus, Eutropiichthys murius, and Clupisoma montanum. More research is needed to accurately identify the specific species referred to as Jala Kapur in different regions of Nepal.

Jala Kapur isn’t just prized in Nepal. It’s also significant in neighboring regions like Bihar and Bangladesh. In Bihar, it’s often caught in the Gandak, Kosi, and Ganga rivers and is popular in Mithila cuisine, where it’s prepared in mustard-based curries or smoked and sun-dried for later use. In Bangladesh, it’s considered a delicacy in regions like Sylhet, Rajshahi, and Barisal, where it’s commonly prepared in Shorshe Bata Jhol (mustard-based gravy) or Panta Bhat (fermented rice dish).

One of the most beloved ways to prepare Jala Kapur is in the form of Malekhu Ko Jhol Macha, a tangy and spicy fish curry that captures the essence of Nepali cuisine. Here’s how you can make it at home:

Ingredients (Serves 4-6)

• Jala Kapur fish: 1 kg (cleaned and cut into pieces)
• Mustard oil: 3 tablespoons
• Fenugreek seeds (methi): 1 teaspoon
• Timur (Szechuan pepper): 1/2 teaspoon
• Green chilies: 4-5 (slit lengthwise)
• Tomatoes: 2 medium (chopped)
• Onions: 2 medium (finely chopped)
• Garlic: 6-7 cloves (minced)
• Ginger: 1-inch piece (grated)
• Turmeric powder: 1 teaspoon
• Red chili powder: 1 teaspoon
• Roasted mustard seeds: 2 tablespoons (ground into a paste)
• Roasted sesame seeds: 1 tablespoon (ground into a paste)
• Local Sun kagati or chuk amilo (lemon molasses): 2 teaspoons (for souring)
• Salt: To taste
• Fresh coriander leaves: For garnish

Instructions

• Clean the Jala Kapur thoroughly and marinate it with salt and turmeric powder for five minutes.
• Heat mustard oil in a deep pan until it smokes. Reduce the heat and add fenugreek seeds. Let them splutter for a few seconds.
• Add chopped onions, garlic, and ginger. Sauté until the onions turn golden brown.
• Stir in the chopped tomatoes, green chilies, turmeric powder, and red chili powder. Cook until the tomatoes soften and the oil separates.
• Gently add the marinated fish pieces to the pan. Coat them well with the spice mixture and cook for two to three minutes.
• Add the roasted mustard and sesame seed paste, along with Sun kagati juice or chuk amilo. Stir well with Timur powder to combine.
• Add two cups of water and bring the curry to a gentle simmer. Cover and cook for 10-15 minutes, or until the fish is tender and the flavors blend together.
• Sprinkle fresh coriander leaves on top and serve hot with steamed rice or chiura (beaten rice).

The author is a London-based R&D chef