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The much-talked-about initial public offering (IPO) of companies through the book building mechanism has been completed. Mukti Nath Shrestha, spokesperson at the Securities Board of Nepal (Sebon), said, “This process, following extensive efforts from Sebon and other stakeholders, has achieved a significant breakthrough.” He described the development as “historic”.

Book building is the process by which an underwriter attempts to determine the price at which the IPO of a company is offered. An underwriter, usually an investment bank, builds a book by inviting institutional investors (such as fund managers and others) to submit bids for the number of shares and the price(s) they would be willing to pay for them.

Sarbottam Cement received permission to issue IPOs through book building at a cutoff price of Rs 401 per share on Oct 16. Previously, Sarbottam had set a maximum price of Rs 751.50 per share.

Sebon Chairperson Ramesh Hamal stated, “Book building serves as a means of price discovery, promoting equitable issuance of IPOs with extensive involvement from institutional investors and significant buyers.” He added that it also enables companies going public to secure considerable capital and collect pricing insights from prospective buyers. “Employing the book building approach for IPOs will improve the transparency, governance and accountability of share prices.”

According to Hamal, the commencement of the book building process will encourage many investors and companies, previously hesitant to issue an IPO, to consider doing so. “It will aid in enhancing national revenue contribution and contribute to the overall national economy.”

Preparations have begun to achieve total literacy status for Karnali Province. Federal, provincial, and local governments all are implementing various programs to attain this status in the current fiscal year.

Out of the 79 local units in the province, 27 are yet to be declared total literate. Balbir Sunar, chief of the Education Development Division under the Ministry of Social Development, Karnali Province, expressed confidence that all remaining local units will be declared total literate in the current fiscal year. Plans are in motion to declare both these local units and the entire province total literate in the current fiscal year, he added.

As per the 2021 census, the population of Karnali stands at 1,694,889. However, only 76% of the total population is literate. Notably, eight local units in Kalikot, one in Humla, four in Mugu, eight in Jumla, and six in Dolpa have yet to achieve total literacy status..

Literacy levels are assessed using 12 indicators, such as familiarity with alphabets and numbers, ability to write one's name, reading calendars, performing basic mathematics (addition and subtraction), and articulating opinions at public events. Individuals meeting at least six of these 12 indicators are considered literate.

Local units are declared literate when 95 percent of the people in the 15-59 age group within that unit meet these six indicators. Among the seven provinces in the country, Karnali and Madhesh haven’t achieved total literacy status yet. Once these two provinces attain total literacy status, the federal government plans to declare the entire country fully literate.

The provincial government is implementing various programs to align with the federal government's objectives and achieve full literacy status, according to Minister for Social Development Khadga Bahadur Pokharel.

Likewise, Chief Minister Raj Kumar Sharma has said that the provincial government will spare no effort to attain total literacy status in the current fiscal year. According to Sharma, the provincial government plans to deploy teachers to households with illiterate individuals for several hours or days to promote literacy.

Local unit representatives have likewise pledged to make their respective units fully literate. Dan Bahadur Budha, chairperson of Ghutichaur Rural Municipality in Jumla, said that various programs are being implemented to achieve total literacy in the current fiscal year.

In Karnali Province, there are 399 schools offering classes up to Grade 10, which constitutes 5.8 percent of the total number of schools in the country providing education up to Grade 10. Similarly, 7.55 percent of 4,410 schools nationwide offering classes up to Grade 12 are in Karnali Province.

It is paradoxical that despite the presence of numerous development organizations in Karnali and Madhes provinces, most of the country's illiterate population resides in these regions.

Chudamani Paudel, director general of the Center for Education and Human Resource Development, said that the constitution guarantees free and compulsory basic education for all Nepali citizens. Paudel pointed out that the delay in enacting the Federal Education Act has caused various issues in the education system. “There is a need to create 60,000 teaching positions for different levels up to Grade 12. However, we haven’t received approval from the finance ministry. We are somehow making do with 40,000 temporary positions,” he added.

Dr Bhojraj Kafle, secretary of the Ministry of Social Development, Karnali Province, said the same individuals were participating in adult literacy programs as much as seven times. This lays bare the managerial shortcomings in these programs,” he added.

Honest citizenry refers to a population or community of individuals within a society/nation who uphold and embody the principles of integrity, truthfulness and ethical behavior in their civic and personal lives. Adherence to moral values, respect for the law and a commitment to transparency and accountability in action are some of its characteristics. It signifies a collective dedication to upholding the principle of honesty and integrity in all aspects of public and private life, contributing to the overall moral and fabric and integrity of the society as a whole. 

Nepal, nestled in the heart of the Himalayas, is a nation with a rich cultural heritage, breathtaking natural beauty, natural resources and a diverse population. However, like many other countries, it faces numerous challenges, including political instability, economic disparities and social issues. One crucial aspect that needs immediate attention in Nepal is the need for an honest citizenry. In a society where honesty is a cornerstone of progress and development, fostering a culture of integrity can pave the way for a brighter future.

Honesty is a fundamental virtue that plays a pivotal role in shaping a nation's destiny. It encompasses not only telling the truth but also involves transparency, accountability and ethical behavior. In the context of Nepal, building an honest citizenry is essential for several reasons.

Nepal has been grappling with corruption for several years, hindering progress and development. Corruption has not only siphoned off public funds but also a trust deficit in government institutions. An honest citizenry can serve as a bulwark against corruption by demanding accountability and transparency from elected representatives and government personnel. 

A culture of honesty can stimulate economic growth by creating a conducive environment for businesses and investments. When individuals and businesses can trust that contracts will be honored, property rights protected and transactions conducted fairly, it fosters economic stability and development.

Honesty fosters trust among individuals and communities. In a diverse and multicultural nation like Nepal, trust and mutual respect are essential for social cohesion and harmony. When citizens are honest in their dealings with each other, it helps bridge societal divides and strengthens the social fabric.

A transparent and accountable government is essential for effective governance. Citizens, who demand honesty and integrity from their leaders and government as well as non-government institutions are more likely to hold them accountable for their actions. This, in turn, leads to a better governance, improved public services and a more efficient administration.

While the importance of honesty is undeniable, there are several challenges that Nepal faces in its pursuit of building an honest citizenry. 

Many individuals in Nepal are struggling with poverty and desperation, which can drive them to engage in dishonest activities as a means of survival. Addressing the root causes of poverty and providing economic opportunities is crucial to reduce dishonest behavior.

Nepal’s legal framework lacks teeth when it comes to addressing corruption and dishonesty effectively. There is a need for comprehensive legal reforms to create a strong deterrent against dishonest behavior.

A well-rounded education system that not only imparts academic knowledge but also instills values such as honesty is essential. Many schools in Nepal lack the resources and capacity to provide a holistic education, leaving a gap in character development.

Nepal’s political landscape is often marred by patronage and nepotism. This creates an environment where dishonesty is sometimes rewarded rather than punished. Political reform is crucial to eliminate this aspect of the culture.

To build a more honest citizenry in Nepal, a multi-pronged approach is necessary.

Investing in education and awareness campaigns that promote ethical behavior and values from a young age is essential. This includes not only formal education but also community-based initiatives and awareness programs. Reforming and strengthening Nepal's legal frameworks to make them more effective in combating corruption and dishonesty is crucial. This includes robust enforcement mechanisms and whistleblower protection. Citizens must actively engage in the political processes and hold their elected representatives accountable. Encouraging transparency and scrutinizing the actions of political leaders can help reduce dishonesty in politics. Creating economic opportunities and reducing poverty is vital in reducing the desperation that can lead to dishonest behavior. This involves job creation, vocational training and support for entrepreneurship.

Civil society organizations, including non-government organizations and community groups, can play a significant role in promoting honesty and integrity. They can serve as watchdogs, advocates and educators.

Nepal stands at a crossroads, with the opportunity to build a stronger and more prosperous nation. To achieve this, fostering an honest citizenry is paramount. Honesty is not just a personal virtue; it is a collective responsibility that can transform societies and nations. By addressing the challenges and actively working toward creating a culture of integrity, Nepal can make way for a brighter future where honesty is the norm rather than the exception. With an honest citizenry, Nepal can overcome its obstacles and unlock its true potential as a nation.

Young people can play a pivotal role in shaping the future of an honest and upright citizenry within a nation. Their behaviors, mindsets and ways of living are essential for fostering and attaining the ideals of an honest and responsible populace. It is undeniable that the youth of Nepal are grappling with challenges in foreign lands, courageously shouldering risks in pursuit of their aspirations. Regrettably, they often find themselves unable to realize their dreams within their own homeland, compelling them to invest their efforts, toil and make sacrifices in distant territories.

Development partners and nations globally have extended opportunities for skill development and exposure, yet many of these individuals choose not to return to their motherland. Consequently, they may not actively engage in contributing to the progress of the country, where their skills and knowledge can be instrumental. Unless the youth develop a collective sense of responsibility toward their country’s advancement, the nation cannot make substantial leaps in its development trajectory. Despite this, Nepali citizens residing in the country maintain a profound faith in the potential of the youths to actively participate in national development, hoping for a brighter and more prosperous future.

Prime Minister Pushpa Kamal Dahal may not have any imminent threats to his government, but things are not smooth either. There are strong voices inside the Nepali Congress, key coalition ally in the Dahal-led government, that the party should reconsider its alliance with the CPN (Maoist Center). 

Recently, a faction within the NC urged the party president, Sher Bahadur Deuba, to reevaluate the alliance with the Maoists. Leaders warned Deuba that Dahal may not hand over the government reins without the guarantee of another electoral alliance. 

Dahal’s only consolation is that Deuba is still in favor of maintaining the current coalition. 

Voices within the NC are also suggesting that the party should consider joining forces with the main opposition, CPN-UML, instead. Proponents of this alliance argue that the coming together of the two largest parties would diminish the bargaining power of smaller political parties and provide a stronger government capable of amending laws and implementing necessary reforms.

People are growing increasingly frustrated with major political parties due to the government's perceived inability to deliver on its promises. Many believe that the country's overall situation, including its economic prospects, could improve if the two major parties united.

Political analyst Puranjan Acharya, who has close ties with NC leader Shekhar Koirala, says that there are strong internal calls within the party to detach from the current coalition. However, Deuba remains optimistic that Dahal will eventually transfer power to him, and this optimism has hindered substantial discussions with the UML regarding a potential new government.

UML leaders believe that Deuba is being influenced by Prime Minister Dahal and are hesitant to engage in discussions about national politics. As for Deuba and UML Chairman KP Sharma Oli, they rarely sit for bilateral talks.

The relationship between Deuba and Shekhar Koirala is also deteriorating, with Koirala becoming a vocal critic of the Dahal-led government. A few days back, Koirala accused Prime Minister Dahal of fueling communal violence by supporting identity-based politics. He said that Dahal had a couple of months to mend ways to end anarchy.  And on Monday, Koirala warned Prime Minister Dahal and Defense Minister Purna Bahadur Khadka against politicizing the Nepal Army. 

Koirala's faction has even defied Deuba and forged an alliance with the UML in Koshi province, which has remained unstable since the previous election. Koirala has the support of nine provincial assembly members in Koshi, which is too little to form a government. But he worked with the UML to make Kedar Karki the chief minister of the province. 

Karki was appointed the new chief minister of Koshi province with backing from 47 lawmakers—39 from UML and eight from the NC.  To achieve this, Koirala, Minendra Rijal and other Congress leaders had worked very hard. 

Deuba had supported the Maoist candidate. With the backing of leaders like Krishna Prasad Sitaula and Purna Bahadur Khadka, Deuba had even threatened to hand over the chief minister’s post to the Maoist party if his choice of candidate is not allowed to become the chief minister.

The developments in Koshi have reverberated within the federal government, leading to a joint meeting between Dahal, Deuba and Koirala, which resulted in an agreement to accept Karki as the chief minister of the coalition.

A written agreement among three leaders says: “We are firm and clear toward the current power alliance and we will not allow this alliance to weaken under any circumstances.”  The agreement, at least for now, has saved the alliance at the center. 

The UML also  appears positive on welcoming NC in the provincial government, but the party will not entertain other parties including CPN (Maoist Center). It has warned of withdrawing the support to Karki if any other party joins the provincial government.

While it has become clear that Koirala seeks to oust the Dahal-led government, he currently lacks the support within the party to make a decisive move. However, he is gaining ground within the party to challenge Deuba's dominance.

Koirala needs the support of Congress General Secretary Gagan Thapa to challenge Deuba, who controls the Parliamentary Party and Central Working Committee. Despite internal divisions, both Koirala and Thapa are united in their stance against forming an electoral alliance with the Maoist party in upcoming local and national elections.

Although the situation in Koshi province may not have an immediate impact on the central coalition, Acharya says, the growing dissatisfaction within the Congress could potentially lead to the emergence of a new coalition in the coming months.