Submit your Article

After much delay and several twists and turns, Nepal Rastra Bank (NRB) finally got a new governor, Biswo Poudel, about a month ago. There was a 46-day gap between the retirement of the previous governor and the appointment of his successor. Although the appointment came late, the central bank has now secured a well-qualified leader. Poudel is a respected economist with deep knowledge of Nepal’s economic history and the foresight to prepare for the future, making him a fitting choice to lead the central bank of the country at this critical time.

Poudel possesses a deep understanding of Nepal’s geography, cultural dynamics, social structure and the foundations of national development. He is well-versed in national planning, business, economics and the broader financial and economic landscape. 

The governor brings with him a wealth of experience and experience, having already served as vice-chairperson of the National Planning Commission, senior economic advisor to the Ministry of Finance and chair of the Board of Governors at ICIMOD, adviser to the International Labour Organization (ILO), led regional forums under the Colombo Plan and UNESCAP, and published research articles in several international economic journals. At the time of appointment as the governor, Poudel was a visiting associate professor at the Kathmandu University School of Management.

His academic and professional expertise spans natural resource economics, labour markets and economic history—areas closely aligned with Nepal’s long-term development priorities.

Over the years, he has closely studied monetary policies and the functioning of banks and financial institutions (BFIs). The business community, economic stakeholders, the stock market and other financial sectors have welcomed his appointment.

A former Minister of State for Finance and economist, Udaya Shumsher Rana, remarked that since the appointment of the new governor, all eyes are on the central bank, with its new leadership appearing more influential than even the Ministry of Finance.

Widespread optimism following his appointment suggests a hopeful outlook for the country’s economic progress in the days to come.

If this momentum continues, Poudel’s five-year tenure is likely to have a positive and lasting impact on the national economy.

This is an important and encouraging development for the public, as key aspects of the economy—such as controlling inflation, ensuring stable and positive economic activity, generating employment, keeping industries running smoothly and fostering a harmonious relationship between banks and the business community—largely depend on the leadership of the NRB. With Poudel at the helm, there is a sense of optimism and satisfaction among all concerned, at a time when the private sector, BFIs and the broader economic landscape are facing numerous challenges.

Businesses and industries have been struggling to recover fully since 2019, when a Covid-19 pandemic hit the country and consigned its economy to sickbed. Against this backdrop, the NRB leadership must prioritize the revival of these sectors and focus on correcting structural economic imbalances. This is what the country needs—and what the people expect.

The country faces a multitude of economic challenges. The central bank had long been in need of a capable scholar, who could address these pressing issues with expertise and vision. Economic recovery cannot be achieved through rhetoric alone; it demands strong leadership, a positive mindset and dedicated effort. Governor Poudel is surely aware of this reality. With the support of NRB’s competent team, let’s hope, he manages to work diligently toward the nation’s economic development and progress.

The author, a member of the Supreme Court Bar, has been practicing corporate law for around three decades

Foreign Minister Arzu Rana Deuba has confirmed that 16 Nepalis are currently in Iran, which is involved in a conflict with Israel. Addressing the House of Representatives on Monday, she stated that 11 Nepalis are staying in a location called Mashhad, while the other five are in prison for entering Iran illegally.

She said 11 of them are expected to arrive in India on Tuesday via an Indian flight, and Nepal had agreed to their evacuation after India offered to rescue Nepalis along with its own citizens. One of the evacuees lacks travel documents, and the process to issue them is underway, she added. Efforts are in progress to secure the release of the five jailed Nepalis. 

She also said that the government is working with priority for the safety of Nepalis in areas affected by the ongoing conflict between Israel and Iran, while taking the potential impacts seriously. “The ministry issued travel-related information with detailed contact details on June 15, requesting Nepalis currently in Israel and Iran to exercise maximum caution from a safety perspective.” Minister Rana said that the Nepali ambassadors in the respective countries have been instructed to coordinate for the safety of Nepali citizens. Mentioning that an ‘online portal’ was launched on June 17 to collect details of Nepali citizens, she informed that 885 individuals have registered their information on the portal so far and the registration process is increasing.

The Foreign Affairs Minister stated, “On June 18, all Nepali missions in the Gulf have been instructed to facilitate the process of providing online visas and other assistance for Nepalis who wish to travel to safe locations or neighboring countries, in light of the current suspension of air routes in those countries.”

In this context, she mentioned that the Jordanian government documented, on June 19, the need to provide necessary assistance to foreign nationals coming from Israel to their borders. The minister also stated that the Nepali embassy has communicated with ILO and IOM regarding facilitation on this matter. She also mentioned that efforts are underway for a prompt rescue and repatriation from Israel and Iran through coordination with the relevant bodies and the formation of a rapid response group. Foreign Minister Deuba stated that the Nepal government has been continuously pursuing diplomatic efforts at both bilateral and multilateral levels for the release of Bipin Joshi, held hostage since the 7 Oct 2023 attack near Gaza.

She added that Nepal has been pursuing economic diplomacy as one of the major tools of its foreign policy and its missions abroad are being encouraged to get engaged in areas like trade, foreign investment, tourism and technology. Minister Deuba said efforts are underway through diplomatic missions to promote cultural and tourism diplomacy, adding that her ministry is also taking steps for the sustainability of Nepal’s graduation from the grouping of least developed countries to the club of middle-income developing countries. Nepal is scheduled to become a developing nation in 2026.

She made it clear before the session that the appointment of ambassadors is taking place as per the existing rules and in the deputation of labor attachés, the ministry follows the recommendations of the Ministry of Labour, Employment and Social Security. As the Minister said, the number of missions and human resources for foreign services has been increased following the ministry’s Organization and Management Survey. In addition to these, digital archiving and data management are among the priorities of the ministry.
On a different note, Minister Deuba said the ministry remains highly vigilant in preventing any issues that could affect national security and interests. In line with our foreign policy, the ministry is firmly committed to ensuring that Nepali territory is not used against any neighboring country, Deuba said.

Thomas Jefferson, the third President of the United States and drafter of the Declaration of Independence, once said: “Were it left to me to decide whether we should have a government without newspapers, or newspapers without a government, I should not hesitate a moment to prefer the latter.”  More than two centuries later, Jefferson’s words resonate even more deeply.

They underscore the paramount importance of press freedom in any democratic society.  In Nepal’s context, it is worth recalling Nepali Congress (NC) founding leader BP Koirala’s understanding of media freedom.  It is widely reported that Koirala welcomed journalists of all political and ideological stripes and even encouraged them to write critically about his own government.  This article explores the two broad dimensions of Nepal’s current media landscape: the growing threats to the media industry and why safeguarding press freedom is more urgent than ever.

Nepali media is confronting a multitude of threats, from political repression and physical attacks to shrinking revenues and rising disinformation. These are not isolated incidents but part of a growing pattern. Unfortunately, the society and many politicians continue to treat press freedom as a concern of the media fraternity alone. This is a dangerous misconception. When media freedom deteriorates, it affects not just journalists but the functioning of all domestic institutions.

The executive, legislature, judiciary and even international stakeholders should be alarmed by the decline in press freedom because it ultimately erodes public trust, transparency and accountability. Democracy and media freedom are symbiotic; one cannot survive without the other. Protecting media freedom has become more important today than ever due to democratic backsliding, digital autocracy, the spread of disinformation, geopolitical tensions and the global rise of authoritarian populism. 

From Europe to Africa and Asia, populist leaders are attacking the media. Populism thrives on emotion, lies, fake nationalism, anti-immigration rhetoric, attack on the state institutions and discrediting the mainstream independent media. As a recent study by the Reuters Institute stated, populist politicians around the world are increasingly able to bypass traditional journalism in favor of the friendly partisan media, personalities and influences who often get special access but rarely ask difficult questions, with many implicated in spreading false narrative or worse.

V cv In Nepal, the dual pressure from state and non-state actors are steadily weakening independent media. In the name of regulation, politicians are introducing restrictive laws designed to limit media freedom.  In several instances, politicians are discrediting traditional media for not aligning with their agendas. At the same time, advertising revenues are drying up with both audiences and advertisers migrating to digital platforms. This shift has left mainstream media struggling to sustain high-quality journalism. The situation is worsened by corporate interests, which often seek to undermine critical reporting that expose malpractices of the business houses. 

The Reuters Institute report states that engagement with traditional media sources such as TV, print and news websites continue to fall, while dependence on social media, video platforms and online aggregators is growing. Disinformation is another major challenge that Nepal’s media industry is struggling with. Malicious actors are not only spreading fake news to discredit independent media but also flooding the digital space with misleading content that confuses the people.

This is ultimately eroding people’s trust in journalism. Independent media is not only battling disinformation aimed at undermining their credibility but also bearing the crucial responsibility of combating the falsehoods that threaten society at large.

In the name of regulating social media, the government is introducing tighter laws, which have put it on a collision course with the media. People in the government are applying the same framework to traditional media (print, radio and television) as they do to online platforms and social media, despite their fundamentally different natures. Today, as democracy faces unprecedented challenges, the need for an independent and vibrant media has never been more urgent. 

Like elsewhere, people’s trust and confidence in democracy is dwindling, which is a cause for concern. From federal to local level, there are growing incidents of abuse of power by the elected representatives as well as bureaucrats. To hold them accountable, journalists must be allowed to work in an environment free from violence, threats and political interference. The state should support investigative journalism, not suppress it.  

Corruption, meanwhile, poses perhaps the greatest internal threat to Nepal’s democracy because it is wrecking the integrity, professionalism and image of the state institutions. Only an empowered media can investigate and expose such malpractices. However, journalists doing investigative stories are facing intimidation. The growing disinformation has emerged as a risk factor everywhere including in Nepal. 

A limited number of fact-checking organizations cannot tackle the problem of this magnitude, given their limited reach, resource and impact. In countries where the media’s economic health is sound, independent media are doing the fast-checking works. In our cases, big media houses are yet to work out a solution to stop a large-scale disinformation campaign.

The business sector has become both a victim and perpetrator of disinformation. Honest enterprises are being hurt by misleading narratives, while others are trying to discredit the media to protest their own unethical practices. Only a free and independent press can serve the larger interests of the business community by circulating accurate, credible information and promoting transparency in the market. 

Climate change, one of the most urgent global challenges, is also tightly connected to democracy which affects the economy, further contributes to inequality, leads to political instability and undermines people’s trust in the government.

Protecting natural resources and ensuring their responsible use is critical for both environmental sustainability and democratic governance. Here too, the media can play a vital role. Investigative reporting is crucial in holding those degrading the environment accountable and in pressuring governments to act responsibly. However, journalists covering climate issues are facing threats and safety concerns.  Efforts to combat the climate crisis will not be effective without a free press.

In conclusion, Nepal urgently needs a vibrant independent and fearless media to protect and strengthen its democracy. But, the worrying factor is political parties and their leaders. They once fought for democracy and press freedom, but are now trying to curtail it. They must remember a weakened media leads to a weakened democracy. Press freedom is not a favor to journalists, it is a necessary investment in the health of our democratic future. 

Nepali youths want to carve out a distinct identity of the country—other than that of the land of brave warriors—particularly in the field of information and communications technology (ICT).

Is the government ready to create a supportive environment for the realization of this mission?

This unanswered question sits uncomfortably among young dreamers, innovators and inventors at a time when a body of research has shown that the coming decades will be the age of Asia.
According to a report from the McKinsey Global Institute (2019), Asia, home to more than half of the world’s middle-class population, already accounts for over 50 percent of global GDP growth while the Asian Development Bank (ADB, 2023) forecasts that Asia-Pacific's sustained growth, driven by trade, technology and urbanization, will continue to reshape global power balances.
Located between two global economic powerhouses—China and India—Nepal has “great prospects” for economic collaboration and development lying ahead.  

Though it sounds a bit cliched, the government and other stakeholders should have an unwavering focus on ways to reap “benefits” from the two large markets.

Today’s youths dream of transforming Nepal, a member of the grouping of low-income countries, into a middle-income country (at least in a few years). Make no mistake: they are dreaming with eyes wide open, with a sense of eagerness and mission, and they are working quite hard to fulfill it.

Sprouting start-ups, firms and product/service enhancement facilities, especially in the field of ICT, are a living proof of their commitment to the mission. 
At a time when, according to reports, around 2,000 youths are leaving the country daily, growing businesses like these offer a glimmer of hope.

This begs a key question: Is the government really ready to accept, encourage, promote and develop this bubble of hope?

Action speaks louder than words, doesn’t it?

Thus far this year, the parliament has passed some important bills to promote youth enterprises such as the Bill to Amend Some Nepal Acts Related to Good Governance Promotion and Public Service Delivery (Amendment), 2024; Cooperatives Bill, 2024; Economic Procedure and Financial Responsibility (First Amendment) Bill, 2024; Privatization (First Amendment) Bill 2024 and Improvement of the Economic and Business Environment and Investment Promotion Bill, 2024, bringing cheers from the private sector and other stakeholders.

The recently-published fiscal policy of the government appears to be a small step in the right direction and let’s hope that the monetary policy will also power the start-ups and help give the gig economy a boost through measures like favorable interest rates.
Still, the roadblocks remain on this path with several studies and research papers highlighting the ambiguities and hurdles in policies, bills and articles related to business operations in Nepal.

What is the way out, then?  
Instead of bulky policies and controlling bills, relevant government authorities can create simple, easy and supervisory bills to remove these obstructions. 
And how about introducing start-up friendly policies, which can create a favorable business environment by opening the door for many opportunities within the country.
Michael Porter rightly says: Innovation is the central issue in economic prosperity.

It is a given that invention and innovation are the only tools that can leapfrog the economy.

Looking back into the global growth and development trajectory, one finds that every developed country has almost the same story: They all began with invention and innovation in commodities, and achieved a competitive advantage in the international market. South Korea, Singapore, India, Bangladesh and Sweden are doing extremely well on this front, especially over the decade. Make no mistake: these two i-terms—invention and innovation—aren’t accidental things. Rather, they are the result of consistent efforts of many minds and hands.
There’s no reason why Nepali youths cannot achieve this feat and take the country to a new era—with a little help from all stakeholders, the government in particular.