Nepal, renowned for its rich cultural heritage and spiritual traditions, provides an ideal backdrop for promoting…
Nepal, renowned for its rich cultural heritage and spiritual traditions, provides an ideal backdrop for promoting…
September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US…
The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its…
On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229…
"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss…
A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges.…
June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800…
June 26: In five months of 2023, a total of 404,231 foreign tourists visited…
Of three major areas of investment, stock market offers a comprehensive and wide-ranging avenue for investment in Nepal, allowing all kinds of investors-institutional and retailers- to create capital by outpacing inflation and fixed deposit returns.…
Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and…
Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational…
Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political…
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This ancient practice, deeply rooted in the meditative traditions of Buddhism and Hinduism, has garnered renewed interest as a powerful tool for mental health and wellness. By integrating mindfulness with traditional healing practices, modern therapeutic approaches, and innovative business models, Nepal can cultivate a holistic framework for mental well-being. Traditional healing in Nepal, woven into the cultural fabric, often incorporates mindfulness elements. Practices such as yoga, meditation, and rituals performed by shamans and Ayurvedic healers emphasize mental and spiritual balance, aligning closely with the principles of mindfulness. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Leveraging these age-old practices, mental health professionals can create culturally resonant approaches to mindfulness that respect and utilize Nepal’s rich heritage. Modern therapeutic techniques, such as cognitive-behavioral therapy (CBT) and mindfulness-based stress reduction (MBSR), can complement traditional practices. These evidence-based methods help manage stress, anxiety, and depression, promoting a comprehensive mental health strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Training local therapists in these modern techniques and integrating them with traditional practices can offer a unique and effective approach to mental wellness. Additionally, the growing wellness tourism industry in Nepal presents valuable business opportunities for promoting mindfulness. Wellness retreats and mindfulness centers can attract both locals and international visitors seeking spiritual and mental rejuvenation. These centers can serve as hubs for teaching mindfulness practices, blending traditional and modern methods, and fostering a supportive community. By integrating traditional healing practices, modern therapies, and innovative business models, Nepal can effectively nurture mindfulness. This multifaceted approach enhances mental health and wellness services while preserving and promoting the country’s rich cultural heritage, positioning Nepal as a leading destination for mindfulness and holistic well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Main Issue</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main issue lies in the slow adoption of mindfulness practices into mainstream Nepalese society despite their significant potential to enhance mental health and well-being. Mindfulness, a practice that cultivates present-moment awareness, holds the promise of reducing stress and promoting mental clarity by helping individuals anchor themselves in the present. This practice mitigates the impact of past regrets and future anxieties, fostering a state of calm and balance that is crucial in today’s fast-paced world. Mindfulness enables individuals to pause, breathe, and observe their thoughts without judgment, leading to clearer and more focused minds, improved emotional regulation, and better responses to situations with greater patience and understanding.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Moreover, mindfulness enhances empathy, a critical component for strengthening relationships. By being fully present during interactions, individuals become more attuned to the emotions and needs of others, enhancing their capacity for compassion and connection. This heightened empathy not only improves personal relationships but also fosters a more harmonious community atmosphere. Additionally, practicing mindfulness contributes to better focus and decision-making as individuals become adept at filtering out distractions and concentrating on tasks, leading to increased productivity and efficiency in both professional and personal contexts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite these myriad benefits, the integration of mindfulness into Nepalese society faces several challenges. Cultural, educational, and socio-economic factors contribute to the slow adoption of mindfulness practices. Traditional Nepalese culture, while deeply spiritual, may not yet fully embrace contemporary mindfulness practices as part of daily life. Furthermore, there might be a lack of awareness or access to structured mindfulness programs. To address this issue, concerted efforts in education, advocacy, and the creation of accessible mindfulness initiatives are required. Such efforts would bridge the gap, promoting mindfulness's benefits and enhancing the overall well-being and quality of life for all Nepalese individuals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Recommendations</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindfulness-Based Interventions (MBIs) Integration</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Establish dedicated centers that offer mindfulness training workshops, meditation sessions, and yoga classes. These centers can serve as hubs for holistic wellness.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with traditional healers and Ayurvedic practitioners to create comprehensive wellness programs. By combining ancient wisdom with modern practices, you can address physical, mental, and emotional well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Integrate mindfulness practices into existing mental health services. Emphasize present-moment awareness, non-judgment, and self-compassion. This can enhance therapeutic outcomes and promote resilience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Cafés and Restaurants</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Imagine serene dining spaces within healing centers or standalone restaurants, designed to promote mindfulness during meals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Café and Juice Bar</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Offer fresh, organic juices, smoothies, and herbal teas. Prioritize ingredients that nourish the body and mind.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Create a calming ambiance using natural materials, soothing colors, and soft music. Consider incorporating elements like indoor plants or a small water fountain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dedicate a corner for wellness resources—a mini library with books on mindfulness, nutrition, and holistic living.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Plant-Based Restaurant</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Focus on plant-based dishes that promote health and vitality. Collaborate with local farmers to source seasonal, organic produce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Craft a menu that celebrates the flavors of Nepal while aligning with mindful eating principles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Educate diners about the benefits of plant-based nutrition and its positive impact on overall well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful Movement and Activities</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Organize meditation retreats in serene locations across Nepal. Participants can immerse themselves in mindfulness practices such as guided meditations, breath awareness, and walking meditations during morning and afternoon meditation sessions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful activities:</span></strong><span style="font-size:14.0pt"> Yoga, tai chi, or qigong. Encourage participants to connect with their bodies and the present moment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Communal meals:</span></strong><span style="font-size:14.0pt"> Practice mindful eating together, savoring each bite and appreciating the nourishment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Community Engagement and Cultural Sensitivity: </span></strong><span style="font-size:14.0pt">Involve local communities in designing and implementing mindfulness programs. Seek their input and adapt practices to align with Nepalese traditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with monasteries, temples, and spiritual leaders. Their guidance can enrich mindfulness practices and foster community support.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Respect cultural norms and sensitivities. Mindfulness should be accessible and inclusive, honoring diverse backgrounds and beliefs.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Conclusion</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By highlighting the intrinsic connection between food, well-being, and mindfulness, Nepal has the potential to become a global hub for holistic wellness. This transformation necessitates collective efforts from various sectors, including government, local communities, and wellness practitioners. Collaboration among these stakeholders can foster an environment where the rich cultural heritage of Nepal is seamlessly integrated with modern wellness practices. Understanding and respecting cultural nuances are crucial, as they form the backbone of Nepalese society and influence people's daily lives and practices. As Nepal increasingly embraces mindfulness, its citizens can experience profound benefits. Mindfulness practices, deeply rooted in Nepal's spiritual traditions, can enhance resilience, helping individuals better manage stress and adversity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, these practices can promote balance in daily life, fostering a harmonious relationship between mind, body, and environment. By focusing on mindful eating and well-being, people can achieve greater fulfillment, leading to a healthier, more content society. The holistic approach to wellness in Nepal not only nurtures individual health but also contributes to a more sustainable and compassionate community. As mindfulness permeates various aspects of life, from dietary choices to interpersonal relationships, it fosters a culture of awareness and intentional living. This cultural shift can position Nepal as a beacon of holistic wellness, attracting visitors seeking authentic and transformative health experiences. Ultimately, by embracing the synergy of food, well-being, and mindfulness, Nepal can inspire a global movement towards more integrated and mindful living, benefiting not only its own people but also setting a precedent for other nations to follow.</span></span></span></p> <p><span style="font-size:18px"><em><span style="font-family:Calibri,"sans-serif"">(Sweksha Lakhe is an MBA student at South Asian Institute of Management with specialization in HR and Aasha Kiran Chapain is an MBA student at South Asian Institute of Management with specialization in Finance)</span></em></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-22', 'modified' => '2024-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '20779', 'image' => '20240522025819_consciousness-meditation-neurosicnce.jpg', 'article_date' => '2024-05-22 14:57:12', 'homepage' => true, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19004', 'article_category_id' => '251', 'title' => 'The Abraham Accords: Celebrating Three Years of Regional Cooperation', 'sub_title' => '', 'summary' => 'September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Hanan Goder</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.Three months later, in December 2020, Morocco joined the process, signing a normalization agreement with Israel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The catalyst that enabled thesehistoric accords was the conscious decision taken by the parties to promote a stable and prosperous future for the Middle East.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The agreements have ushered in a new era of normalization and peace that not only connects governments butalso bringspeople together, despite differences in language, religious beliefs, cultures and more. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, the Abraham Accords have offered a mere glimpse into the full potential of regional cooperation. Even so, the scope of trade between Israel and other Middle Eastern countries increased 74% between 2021 and 2022. Another example is tourism, mostly non-existent in the past, which has skyrocketed. In 2021, visits from Israel to the UAE increased by 172%. Meanwhile, the number of Israelis flying to Bahrain since the establishment of direct flights has increased exponentially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The accords have also had a significant influence on reinforcing Israel's relations with neighboring countries, thereby enhancing regional stability. For example, the Prosperity Green & Blue agreement between Israel, the UAE, and Jordan determined that asolar field tosupply 600 megawatts of green electricity to Israel will be established in Jordan, whilein return,a desalination plant in Israel will deliver 200 million cubic meters of water to Jordan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a region where 65% of the population is under 30, providing the younger generation with opportunities is a key factor in preventing instability. To that end, youth delegations have been initiated, encouraging bonds between tomorrow's leaders and laying thefoundation for cooperation in the decades to come.Delegationsin which young influencers experience eachother's cultures and visitimportant religious and historic sites while focusing on community building are an effective tool in strengthening ties. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Importantly, the youth of the relevant countries have subscribed wholeheartedly to the principles of acceptance, cooperation and peace highlighted in the accords, communicating to the region that these ideals are the building blocks of the future. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords encourage collaboration and education. In the summer of 2022, Ben-Gurion University welcomed students from Morocco. Additionally, a number of Emirati students have enrolled in Israeli universities. Bahrain has also embraced the prospects for shared educational activities and signed a number of agreements with Israel to advance student and professor exchanges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In anotable example of how these initiatives can foster mutual understanding, after Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited the Yad Vashem Holocaust Remembrance Center in Jerusalem, the UAE incorporated Holocaust education into its school curriculum as a mandatory subject, attestation to the ability of the Abraham Accords to fostercoexistence and religious tolerance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords have shown unity's power to inspire and provide opportunity.Theyoffer a window into a potential future of the region and demonstrate that when both leaders and ordinary citizensprioritize peace and cooperation, a far better future for the Middle East is possible.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israel hopes that many more countries will join this endeavor, creatingabrighter tomorrow for the sake of all our children.</span></span></span></p> <p><em><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">(The author is the Ambassador of Israel to Nepal)</span></span></span></em></p> <p> </p> ', 'published' => true, 'created' => '2023-09-15', 'modified' => '2023-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '18733', 'image' => '20230915081359_accord.jpg', 'article_date' => '2023-09-15 20:13:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18851', 'article_category_id' => '251', 'title' => 'Remittance: A Key Element in Nepal's Socio-Economic Landscape', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 28: In the fiscal year 2022/23, an astonishing 771,000 young individuals embarked on foreign employment from Nepal, according to the Department of Foreign Employment (DoFE). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This figure includes both new and re-permit workers who acquired work permits during the fiscal year 2022/2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparatively, during the preceding fiscal year 2021/22, a total of 637,133 workers pursued foreign employment. This reflects a substantial increase of 134,214 individuals opting for work permits abroad compared to the year before.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has about 200 years of history of its young individuals seeking employment opportunities abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, Nepali men ventured to foreign lands for various reasons, including work and participation in world wars. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many youths went to India to find employment, and some even served as soldiers in the First and Second World Wars. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite this long history, official records about the population's migration to India and other countries for jobs in the nineteenth century are lacking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2000-01, over 55,000 Nepalis went abroad due to the country's economic challenges resulting from the conflict. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the last two decades, remittance inflows have grown significantly. In 2000-01, remittances Nepal received stood at Rs 47 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, in the fiscal year 2022/2023, remittance inflow has surged to Rs 1220.56 billion, as reported by Nepal Rastra Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Popular job destinations for Nepali youths include Qatar, Malaysia, Saudi Arabia, UAE, and South Korea.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Role of Remittance in Nepal's Economy</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remittance serves as the backbone of Nepal's economy and correlates with improved health and social indicators. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a consistent inflow of remittances, Nepal has experienced transformation across various sectors, including poverty reduction, increased consumption, and bolstered foreign exchange reserves.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Contribution to GDP:</strong> Remittances play a crucial role in Nepal's economy, significantly contributing to the Gross Domestic Product (GDP). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They represent a stable and growing source of foreign exchange earnings, often constituting a substantial portion of Nepal's overall GDP. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2022/2023, remittance's contribution to Nepal's GDP was 22%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Poverty Alleviation</strong>: Remittances have been instrumental in reducing poverty and enhancing the living standards of many Nepali households. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Families receiving remittances often witness a rise in disposable income, which can be directed towards education, healthcare, housing, and other essential needs. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's poverty rate decreased from 25.2% in 2010 to 16.6% in 2019, largely attributed to increased remittance earnings, according to a study. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Household Consumption:</strong> The influx of remittances stimulates household consumption, driving demand for goods and services across various sectors. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This increased demand can fuel economic growth, generate jobs, and create business opportunities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A survey by Nepal Rastra Bank in 2014-15 revealed that 23.9% of remittance funds were spent on essentials like food and clothing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Foreign Exchange Reserves</strong>: Remittances contribute to building and maintaining Nepal's foreign exchange reserves, crucial for stabilizing the country's currency and managing its balance of payments. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adequate foreign exchange reserves ensure import stability and economic resilience. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2022/2023, remittance inflow reached Rs 1220.56 billion, bolstering Nepal's foreign exchange reserves, which stood at Rs 1539 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Investment and Savings</strong>: Remittances encourage increased savings and investment within Nepal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Some households receiving remittances allocate funds to start businesses, invest in agriculture, or make other productive ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Real Estate and Construction</strong>: A portion of remittances often flows into the real estate and construction sectors. Remittances sent by migrant workers have driven growth in Nepal's real estate sector, particularly in urban areas like Kathmandu, where property purchases and construction have surged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Education and Skill Development</strong>: Remittances enable families to invest in education and skill development. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many migrants send money back home to support their children's education, contributing to the country's human capital development. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The increase in private English-medium schools in Nepal is attributed to remittances from migrant workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many uneducated migrant workers working in the foreign lands have sent their kids to pursue higher education in the USA, Australia, Canada and the United Kingdom with remittances. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Challenges and the Path Ahead</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While remittances yield numerous benefits, they also bring challenges. Nepal's economy has grown reliant on remittance inflows, rendering it susceptible to global economic fluctuations and shifts in migration patterns.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this, policymakers and stakeholders must collaborate to diversify the economy, promote domestic industries, expand tourism, and create an environment conducive to sustainable growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, while the demand for Nepali labor abroad is increasing, challenges such as bureaucratic hurdles and political deadlocks within Nepal persist. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate these challenges, Nepal should expedite Government-to-Government (G2G) labor agreements with new destination countries, ensuring fair treatment and suitable compensation for migrant workers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> It's also essential to ensure that Nepali migrant workers are equipped with the necessary skills and knowledge before heading for foreign employment to secure higher-paying jobs that match their expertise.</span></span></p> ', 'published' => true, 'created' => '2023-08-28', 'modified' => '2023-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '18580', 'image' => '20230828055728_collage (1).jpg', 'article_date' => '2023-08-28 05:51:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18673', 'article_category_id' => '251', 'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad', 'sub_title' => '', 'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, "What motivated you to opt for A-levels?" To this, she promptly responded, "A-levels serve as a direct passport for international opportunities," highlighting their potential to facilitate for overseas education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A’s across all subjects. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a café and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master's Degree at a reputable university in either the US or Canada.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle's house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan’s proficiency in English. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade," my uncle commanded me.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don’t even recognize your efforts. They say, “he started a business because he could not go abroad”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of "prestige and status in society."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like "My son resides in the USA" or "My daughter holds permanent residency in Canada" often serve to boost parent’s egos within the community.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children's progress with those of their peers and ask questions like, "Your friend has already sent money and phones to his parents. When will you start working and earning? Why don't you apply and go abroad like them?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today's rapidly evolving world.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal's education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students' academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal's education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“There is pervasive political interference within academic institutions. Regrettably, campuses have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve as distressing indicators of the chaos and impunity that have permeated Nepal's education system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students' ability to succeed in the real world. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today's fiercely competitive job market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion: </strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-08', 'modified' => '2023-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '18402', 'image' => '20230808061226_collage (6).jpg', 'article_date' => '2023-08-08 06:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18280', 'article_category_id' => '251', 'title' => 'Arrival of Tourists up by 45 % Compared to 2022', 'sub_title' => '', 'summary' => 'June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">MK Kulung</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal. According to Nepal Tourism Board’s data, altogether 55,074 foreigners visited Nepal in January, 73,255 in February, 99,426 in March, 98,773 in April and 77,703 in May. In the six months of 2022, only 237,000 foreign tourists had visited Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data, the first five months of 2023 saw a 45 percent growth in arrival of tourists compared to the corresponding period of 2022. Therefore, if foreign tourists arrive at the same rate this year, there is a possibility that the number of tourists in Nepal will increase to the mark of 1 million. Likewise, in the six months of 2022, Nepal earned foreign currency equal to Rs 25.52 billion from tourism. However, in the year 2023, the data regarding how much money they spent in a period of five months has not come out yet.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the same period of the fiscal year 2077-078 (the year 2021), tourism contributed Rs 6.69 billion to the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At the end of December 2019, not only Nepal's tourism industry, but the world's tourism industry had to suffer an unexpected shock due to Covid-19 which spread from China’s Wuhan, the capital of the South-eastern province of Hubei, and gradually took over the global. However, now that the World Health Organization (WHO) has declared the end of Covid-19 as a global emergency and world tourism activities are gaining momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, if we look at the history of tourism in Nepal, it is only since 1963 that the government of Nepal has officially started keeping statistics of foreign tourists visiting Nepal. After almost 60 years since then, i.e. in 2023, the number of foreign tourists coming to Nepal is increasing, which is a very good sign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Looking at the encouraging number of foreign tourists who visited Nepal in recent years, the government of Nepal announced that 2018 will be celebrated as the Visit Nepal Year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">But in 2018, due to various reasons, it was not possible to celebrate the Visit Nepal Year, and preparations were made to celebrate 'Visit Nepal Year-2020' again in 2020 with an ambitious plan to attract two million foreign tourists in a year. However, due to the Covid-19 pandemic, the Government of Nepal postponed the 'Visit Nepal Year-2020'. Although all the preparations were completed and some programs were implemented, and the inauguration was done, it had to be postponed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At that time, experts in the world's tourism industry estimated that it would take at least 2024/26 for the tourism industry to return to normalcy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the future, it seems that efforts should be made to attract as many Chinese tourists as possible to Nepal. If this can be done, the Nepali tourism industry will progress quickly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data compiled by various organizations related to world tourism, including UNWTO, Chinese tourists have consistently ranked among the highest-spending tourists in the world.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Also, based on the number of Chinese tourists, they are ranked at the top among people going on the world tour. Recently, in collaboration with the Chinese people, a dragon boat competition was organized in Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Chinese tourists who took part in it chartered a plane and landed in Pokhara. This has raised the prospects of Chinese tourists coming to Pokhara in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the recent past, the second largest number of tourists visiting Nepal were Chinese after the Indians. This is not the case at present, but it can be expected that Chinese tourists will increase. For them, Pokhara is the most attractive tourist destination in Nepal. That's why they seem eager to come to Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that various tourist infrastructures built there have also attracted Chinese tourists. Nepali businessmen should take the initiative to bring Chinese tourists to Nepal through chartered flights. If this can be done, it seems that Nepal's tourism will be completely revived. However, their expenses seem to depend on the activities conducted here.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-26', 'modified' => '2023-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '18011', 'image' => '20230626010005_20230623024119_KrishnaDawadi_Kaski_RSS_08_boatracecometion.jpg', 'article_date' => '2023-06-26 12:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17981', 'article_category_id' => '251', 'title' => 'Unlocking Investment Potential in Nepal: Exploring the Stock Market as a Path to Wealth Creation', 'sub_title' => '', 'summary' => 'Of three major areas of investment, stock market offers a comprehensive and wide-ranging avenue for investment in Nepal, allowing all kinds of investors-institutional and retailers- to create capital by outpacing inflation and fixed deposit returns. ', 'content' => '<p><span style="font-size:18px">May 26: While Nepal's investment options maybe limited, it is important to recognize that investing remains the most reliable approach to outpacing inflation, creating capital, and generating substantial wealth. </span></p> <p><span style="font-size:18px">Although depositing money in bank accounts can yield modest returns, it falls short in terms of multiplying capital and enabling the creation of significant wealth.</span></p> <p><span style="font-size:18px">Nepal has primarily three areas available for investment- real estate, business and stock market. Once upon a time, investing in real estate was widely regarded as one of the most lucrative endeavors. </span></p> <p><span style="font-size:18px">If you had invested Rs 1 to 3 million in the early 2000s, the potential for exponential returns was immense, with the possibility of multiplying your capital by up to tenfold. Savvy investors who entered the real estate market in Kathmandu and other major cities during that era reaped massive wealth within a decade.</span></p> <p><span style="font-size:18px">However, the tides have turned in the realm of real estate. Land sizes have diminished, and the value of land has skyrocketed to exorbitant levels. Presently, even the farthest outskirts of the Kathmandu valley have per anna land prices ranging from 25 to 30 lakhs. </span></p> <p><span style="font-size:18px">As a result, individuals with limited capital shy away from investing in real estate due to the lack of sufficient funds. Additionally, the Nepal Rastra Bank has imposed stringent lending regulations on real estate, allowing only 30 percent loan against the total collateral valuation for homes and land. This not only makes it challenging for small-scale investors but also poses difficulties for larger investors looking to venture into the real estate market.</span></p> <p><span style="font-size:18px">Moreover, the government has introduced new legislation that classifies land into ten categories based on various features and geographic considerations. These categories include agricultural, residential, commercial, industrial, mines, forests, public use, and cultural-archeological designations, among others. </span></p> <p><span style="font-size:18px">Furthermore, land plotting has been prohibited unless the land has been appropriately classified, further complicating and diminishing the viability of real estate investments.</span></p> <p><span style="font-size:18px">Engaging in business endeavors within Nepal presents significant challenges, particularly for newcomers and those lacking experience. The country boasts several well-established business conglomerates with a global presence, including the likes of Chaudhary Group, Golchha Organization, Murarak Group, Chachan Group, Golyan Group, Kedia Organization, Khetan Group, Vishal Group, Vaidya Organization of Industries and Trading Houses (VOITH), Prabhu Group, Laxmi Group, Shanker Group, Universal Group, IME Group, and Jyoti Group. </span></p> <p><span style="font-size:18px">These influential entities exert control over a wide range of sectors encompassing manufacturing, trade, banking, insurance, healthcare, agriculture, hydropower, tourism, real estate, food and beverage, as well as vehicle import and sales.</span></p> <p><span style="font-size:18px">For individuals entering the business arena with limited capital and lacking political and bureaucratic connections, competing with these established business houses proves immensely challenging. Newcomers and aspiring entrepreneurs rarely manage to establish themselves successfully in the business world due to these barriers.</span></p> <p><span style="font-size:18px">Furthermore, the majority of people in Nepal tend to be risk-averse and lack the courage to venture into entrepreneurial pursuits. Additionally, the insufficient capital resources further hinder their ability to start their own businesses.</span></p> <p><span style="font-size:18px">Although a nascent startup culture has begun to emerge in Nepal, the government is yet to formulate comprehensive laws and regulations to promote and support such initiatives. All these factors contribute to the prevailing perception that doing business in Nepal is a daunting and arduous task.</span></p> <p><span style="font-size:18px">Investing in Nepal's stock market offers a comprehensive and wide-ranging avenue for investment. While there are stories of individuals losing their assets and even resorting to extreme measures due to stock market investments, many people remain hesitant to participate in the secondary market due to perceived risks. These cautionary tales serve as warnings, deterring others from venturing into the stock market.</span></p> <p><span style="font-size:18px">Undoubtedly, investing entails risks, and the stock market is no exception. However, a careful study and analysis of the stock market reveal that it is not as perilous as commonly portrayed. </span></p> <p><span style="font-size:18px">Despite inherent risks, stock market presents ample benefits. One of the advantages is the ability to start investing with any amount of surplus funds, whether it's Rs 50,000, Rs 5,000,000, or even higher. Unlike other ventures like businesses or real estate, which often require substantial capital, the stock market allows individuals to embark on their investment journey with any available surplus fund. </span></p> <p><span style="font-size:18px">Unlike real estate, which typically maintains its value even during bearish periods, the secondary market, NEPSE, moves in cycles of bullish and bearish trends. This presents an opportunity to purchase shares of favored companies at low prices during downward trends. </span></p> <p><span style="font-size:18px">In contrast, it is rare to find heavily discounted land or properties in the real estate market during downturns. In the stock market, one is never left behind, always having the chance to acquire shares of top-performing companies at unimaginably low prices.</span></p> <p><span style="font-size:18px">Another advantage of the stock market is its liquidity. Life's uncertainties may require immediate financial solutions, such as medical emergencies, funding for education, or urgent travel expenses. </span></p> <p><span style="font-size:18px">In such cases, selling shares can provide the necessary cash. Real estate investments may not provide the same level of flexibility in addressing immediate and urgent financial needs, especially during downturns when selling property becomes challenging.</span></p> <p><span style="font-size:18px">The stock market offers a wide range of options to choose from, with numerous real and manufacturing sectors, banks, and insurance companies listed on NEPSE. These listed companies operate real businesses in the tangible world. </span></p> <p><span style="font-size:18px">By conducting thorough analyses and investing in companies with growth and expansion potential, there is a significant opportunity to multiply investments. A company valued at Rs 10 million can grow into a billion-dollar enterprise, resulting in an unimaginable expansion of one's portfolio. In contrast, the size of land remains fixed, limiting its growth potential.</span></p> <p><span style="font-size:18px">The stock market experiences cycles of bears and bulls. By studying technical charts, indicators, and keeping an eye on fundamental factors such as the country's economy, interest rates, liquidity in the banking system, and political conditions, investors have a chance to multiply their capital within a short period. Such rapid growth opportunities are not as readily available in real estate or start-up businesses.</span></p> <p><span style="font-size:18px">Investing in the stock market offers transparency and convenience. While buying real estate often involves inspecting numerous plots before making a decision, studying and researching companies listed on NEPSE can be done from the comfort of one's home. </span></p> <p><span style="font-size:18px">Transaction costs, including broker commissions, taxes, and regulatory fees, are fixed and transparent, ensuring fair dealings without any hidden agendas. Stock markets are regulated and operate under strict rules, providing transparency and investor protection. Access to company information, financial reports, and market trends empowers investors to make informed decisions.</span></p> <p><span style="font-size:18px">Diversification is another bright side of investing in NEPSE. It allows investors to spread their investment across different sectors, such as banking, insurance, manufacturing, hotels and tourism, and investments, among others. </span></p> <p><span style="font-size:18px">This diversification helps to reduce overall risk and potentially increase overall portfolio returns. Even if losses occur in one company, they can be offset by profits from another, minimizing the impact of individual setbacks.</span></p> <p><span style="font-size:18px">Nepal's stock market holds significant promise as an emerging market, indicating considerable potential for growth. Emerging markets, being in the early stages of economic development, often offer higher returns compared to established markets.</span></p> <p><span style="font-size:18px">Investing in NEPSE can be particularly advantageous for long-term investors who are willing to hold their investments over an extended period. As Nepal's economy continues to progress and mature, the stock market has the potential to deliver substantial returns for patient investors.</span></p> <p><span style="font-size:18px">Another benefit of investing in NEPSE is the opportunity to earn dividend income. Many companies distribute a portion of their profits to shareholders in the form of dividends. This practice provides a reliable and steady stream of income, making dividend-paying stocks attractive for income-oriented investors seeking regular cash flow. </span></p> <p><span style="font-size:18px">By investing in such stocks, investors can benefit from both potential capital appreciation and recurring dividend payments, enhancing their overall investment returns.</span></p> <p><span style="font-size:18px">After analyzing the four bullish and bearish trends in the NEPSE, it becomes evident that newcomers tend to enter the stock market when the bull run is at its peak. Their decision is often influenced by hearing about their friends and neighbors making substantial profits.</span></p> <p><span style="font-size:18px">Conversely, experienced and savvy investors choose to exit their positions during the mid to peak points of a bullish trend. Unfortunately, newbies enter the market at this juncture, experiencing initial gains and a sense of elation. </span></p> <p><span style="font-size:18px">However, as the market eventually shifts into a bearish mode, their hopes of quick and easy profits are shattered. This unfavorable turn of events often leads to significant financial losses, feelings of despair, and even cases of suicide, thereby spreading negative sentiments about the stock market.</span></p> <p><span style="font-size:18px">Ultimately, the success of investing in the NEPSE stock market relies on taking certain precautions and adopting a strategic approach. By considering the following guidelines, individuals can enhance their chances of making informed investment decisions and creating wealth:</span></p> <p><span style="font-size:18px">1. Study the bullish and bearish trends in the stock market to understand the market dynamics and identify favorable entry and exit points.<br /> 2. Develop a basic understanding of technical charts, which can provide insights into price patterns and trends.<br /> 3. Conduct thorough research on companies, analyzing their past performance, current situation, and potential for future growth.<br /> 4. Capitalize on opportunities when the market is in a bearish trend, as this may present favorable prices for acquiring stocks.<br /> 5. Take advantage of bullish trends by selling stocks and patiently waiting for opportune moments to reinvest your money.<br /> 6. Avoid being swayed by rumors and hearsay, as they can often mislead investors.<br /> 7. Stay informed about the state of liquidity in banks, interest rates, and the overall financial condition of the country, as these factors can impact stock market performance.<br /> 8. Consider the effects of major calamities, pandemics, and unforeseen disasters, as the NEPSE has historically experienced growth following such events.<br /> 9. Select a few top-performing companies with growth prospects from various sectors and focus your investments on them.</span></p> <p><span style="font-size:18px">By following these precautions and guidelines, investors can approach the stock market with a more informed and calculated approach, increasing their chances of success and wealth creation.</span><br /> </p> ', 'published' => true, 'created' => '2023-05-26', 'modified' => '2023-05-26', 'keywords' => '', 'description' => '', 'sortorder' => '17712', 'image' => '20230526060045_collage (12).jpg', 'article_date' => '2023-05-26 05:40:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17884', 'article_category_id' => '251', 'title' => 'The History and Causes of Bullish and Bearish Trends in the Nepal Stock Exchange (NEPSE)', 'sub_title' => '', 'summary' => 'Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. ', 'content' => '<p><span style="font-size:18px"> </span></p> <p><span style="font-size:18px">May 17: The history of the share market in Nepal is relatively short compared to other countries. The Nepal Stock Exchange (NEPSE) was established in 1993 as the country's only stock exchange. As the only stock exchange company, the Nepal Stock Exchange (NEPSE), formally opened its trading floor on13th January 1994. </span></p> <p><span style="font-size:18px"> Initially, NEPSE had only 37 listed companies, and trading was conducted manually using an open outcry system. However, in recent years, NEPSE has modernized its trading platform, and as of 2023, there are around 269 listed companies. </span></p> <p><span style="font-size:18px"> Recent data at the Central Depository Services and Clearing Limited (CDSC) show that the number of Demat account holders in Nepal has surpassed 5 million. </span></p> <p><span style="font-size:18px">Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. </span></p> <p><span style="font-size:18px">This article will explore the timeline of bullish and bearish trends in the NEPSE Index, analyzing the underlying economic and political causes that drove these fluctuations.</span></p> <p><span style="font-size:18px"><strong>Reasons behind the 2000 NEPSE Index crash </strong><br /> The Nepal Stock Exchange (NEPSE) index gained bull run pace from 1999 which tripled in around two and half years, and reached a high of 545.82 on November 23, 2000. </span></p> <p><span style="font-size:18px">However, within a short period of one and a half years, the NEPSE index crashed to a low of 186.22 points, and it took another five years for the index to surpass its previous high of 545.82 points.</span></p> <p><span style="font-size:18px">One of the main reasons behind the 2000 NEPSE index burst was the declining GDP growth rate. From 1994 to 1999, the GDP growth rate was impressive, averaging at 6%. However, in 2000, the GDP growth rate dropped to 4.80% followed by a further decline to 0.10% in 2001. </span></p> <p><span style="font-size:18px">The agricultural sector, which is a significant contributor to Nepal's GDP, suffered from low productivity due to drought and unfavorable weather conditions, as the country lacked modernized irrigation facilities.</span></p> <p><span style="font-size:18px">In addition to low agricultural productivity, the country was also facing a civil war which resulted in the killing and unlawful occupation of public property. The government was forced to shift its focus from development to protection of citizens, which resulted in a lack of political stability and security in various sectors, including tourism.</span></p> <p><span style="font-size:18px">As a result, production in all these sectors decreased, causing a sharp decline in GDP growth and discouraging investors from entering the stock market.</span></p> <p><span style="font-size:18px">The civil war was one of the main reasons behind the NEPSE burst in 2000, creating an unstable political and economic environment that discouraged investors from further investing in the stock market. People were more concerned about saving their wealth rather than growing it, leading to a decline in market participatio.</span></p> <p><span style="font-size:18px"><strong> Examining the reasons for the NEPSE's crash in 2008 </strong><br /> The end of Nepal's 10-year internal conflict in 2006 brought a sense of optimism among investors, especially with the introduction of a three-year budget plan focused on the country's development. </span></p> <p><span style="font-size:18px">The uptrend from 2006 continued to gain pace until the index touched the high of 1175 in August 2008, as the political situation remained relatively stable, despite the problem of changing governments and the pending introduction of a new constitution.</span></p> <p><span style="font-size:18px">During the conflict period, many people migrated to cities from rural areas and started buying properties, leading to an unexpected increase in real estate rates. Banks encouraged real estate brokers and the public to take out loans, leading to a surge in cases of loan defaults, and the banks' liquid assets were converted into non-banking physical assets.</span></p> <p><span style="font-size:18px">The demand for loans raised interest rates and reduced liquidity in banks. Interest rate and share market always have inverse relationship. When interest rates rise, sharemarket falls, and vice-versa. Investors exited from the sharemarket and parked their cash in the fixed deposits, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">As investment opportunities in Nepal are limited, the investment capital mainly revolves around three major sectors: stock market, real estate, and fixed deposit. The flow of capital was directed towards the real estate sector, leading to a decline in the charm of the stock market for both institutional and retail investors, resulting in a decline in the NEPSE index.</span></p> <p><span style="font-size:18px">In 2007, the GDP growth rate was 6.10%, followed by a decrease to 4.50% in 2008 and 4.80% in 2009. The NEPSE index burst in 2008 was mainly due to the high demand for the real estate sector and soaring interest rates, which degraded the attraction of the stock market.</span></p> <p><span style="font-size:18px">After the burst, it took four years for the NEPSE index to return to an uptrend, and six years to cross the high of 1,175.38 points. <br /> <strong>Underlying causes behind boom and burst of 2015-2016</strong><br /> In 2015-2016, Nepal faced a series of events that caused both boom and burst in the country's capital market. The earthquake of 2015 had a significant impact on the real estate sector, as people were not interested in owning luxury items and the demand for loans decreased. </span></p> <p><span style="font-size:18px">This led to lower loan rates and subsequently, lower fixed deposit rates, making both banking and real estate sectors unattractive for investors. Consequently, capital started flowing into the stock market, and NEPSE reached a high of 1,881 points in July 2016. </span></p> <p><span style="font-size:18px">During this period, the public invested in the stock market by taking loans from banks because the return on investment in the capital market was much higher than the bank's loan rates. </span></p> <p><span style="font-size:18px">However, the productivity of the country collapsed due to the border blockade, and the GDP growth was only 0.40% in 2015, despite the booming stock market. The low GDP growth indicated low demand in the country.</span></p> <p><span style="font-size:18px">In 2016, the GDP growth rebounded, recording a growth rate of 6.90%, the highest recorded growth in the last two decades. The political and economic situation in the country stabilized, and many new financial institutions were introduced, especially non-life and life insurance after the earthquake. </span></p> <p><span style="font-size:18px">This made the financial sector highly competitive, and to attract customers, the deposit rates started soaring, which raised the loan rates.</span></p> <p><span style="font-size:18px">The high loan rates discouraged investors from borrowing to invest in the stock market, and the return from the banking sector became comparable to the return from the stock market. This attracted institutional investors to invest in banks, as it provided a larger margin of safety. </span></p> <p><span style="font-size:18px">The capital was distributed among numerous small financials, such as microfinance and cooperatives, which impacted the liquidity of larger commercial banks. The government formed National Reconstruction Authority and expedited the reconstruction work using up huge budget to reconstruct infrastructures and individual houses destroyed by the earthquake. This led to the liquidity crisis in the banks and financial institutions, driving the loan rates high. </span></p> <p><span style="font-size:18px">The government also took measures to decrease the number of financial institutions in the country, which turned the market from the Bull to Bear in 2016. The soaring interest rates and liquidity crunch were the main reasons for the NEPSE burst in 2016. </span></p> <p><span style="font-size:18px"><strong>Exploring causes of bull and bear of 2021 </strong></span></p> <p><span style="font-size:18px">Capital market of Nepal started gaining momentum again in early 2020 and went on a bullish trend until it touched an all-time high of 3200 in the month of August 2021. Several factors played a role in pushing the NEPSE Index on a bullish trajectory.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic hit the world and Nepal, and the government imposed lockdowns and restricted people's movement, leading to the shutdowns of most businesses and economic activities. This made people search for alternative ways to make money, and many new investors poured their money into the stock market. </span></p> <p><span style="font-size:18px">Additionally, the lockdowns brought development works to a grinding halt, and the price of petroleum products dwindled, reducing the cost of goods and commodities. The import of goods and commodities except daily essentials was also banned. </span></p> <p><span style="font-size:18px">Banks and financial institutions witnessed excessive liquidity for lack of loan demand, and they started flowing margin loans to investors at as low as 7 percent interest.</span></p> <p><span style="font-size:18px">However, the boom in the stock market did not last long. Various factors led to the sharp fall of the stock market, driving it down to the bearish mood. </span></p> <p><span style="font-size:18px">The Nepal Rastra Bank (NRB) tightened its monetary policy, and all banks and financial institutions were also placed under strict restrictions, effectively banning them from share trading. The NRB's austere policies caused the market correction by dislodging the confidence of large and institutionalized share traders. </span></p> <p><span style="font-size:18px">In the fiscal year 2078/79, Nepal Rastra Bank (NRB) had tightened loans against shares by introducing the credit limit of NPR 40/120 million. The central bank's policy of NPR 40/120 million credit threshold against the shares had put the share market in crisis, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">Moreover, the Nepalese economy experienced a significant slowdown due to the pandemic, which affected the performance of many companies listed on the stock exchange. A liquidity crunch in the banking sector, coupled with tighter monetary policies, affected investor confidence in the market. </span></p> <p><span style="font-size:18px">Inflation in Nepal has been rising since the world removed lockdowns and opened borders for import and export, eroding the purchasing power of investors and making them less willing to invest in the stock market. The Russia’s war on Ukraine has added to the woes of the customers, driving up the prices of daily essentials and petroleum products. </span></p> <p><span style="font-size:18px">The price of petroleum products surged rapidly after the pandemic, driving prices of almost everything up, lowering the investors' capacity to invest in the stock market and other areas. </span></p> <p><span style="font-size:18px">Interest rates also surged up to 19/20percent from 7/8 percent, and stock and interest rate have a negative correlation. As interest rates rose sharply, investors and people parked their money in fixed deposits because of margin of safety.</span></p> <p><span style="font-size:18px"> The bullish trend in the Nepalese stock market in 2021 was mainly driven by the pandemic-induced market disruptions, which led to excess liquidity and low-interest rates. However, the NRB's policies, the economic slowdown, the liquidity crunch, inflation, and rising interest rates led to the bearish trend in the market, causing a significant correction in the NEPSE Index. </span></p> <p><span style="font-size:18px">In summary, the NEPSE Index has had a tumultuous history since its inception, with several downs and ups, reaching its highest points in 2000, 2008, 2016, and 2021. The NEPSE Index started at 157 points in 1998 and climbed to a high of 545 points in 2000, followed by a bearish period that lasted until 2004. </span></p> <p><span style="font-size:18px">The index then gained momentum again, reaching a high of 1175 points in 2008 before tumbling to a low of 298 points in 2012. From 2016 to 2019, the market underwent significant corrections and hit a low of 1104 points in 2019. </span></p> <p><span style="font-size:18px">However, from early 2020, the NEPSE Index entered a bullish trend and reached an all-time high of around 3200 points in August 2021, However, the market sentiment turned bearish soon after, and the index has touched lows of around 1800.</span></p> <p><span style="font-size:18px">Over the past year, the NEPSE index has been fluctuating between 1800 and 2250, with the current state of the secondary market platform hovering between 1800 and 1900. </span></p> <p><span style="font-size:18px">Unfortunately, the turnover amount on the NEPSE has significantly decreased, currently standing at below NPR 1 billion, a stark contrast from the NPR 21 billion turnover witnessed when the market hit its all-time high. </span></p> <p><span style="font-size:18px">As a result, market participation has dwindled, and investors have become more passive in light of the secondary market's bearish mood. </span></p> <p><span style="font-size:18px">The current state of the market is challenging for investors, who are feeling hopeless and psychologically down. To overcome the current bearish sentiment, several challenges and obstacles need to be addressed. </span></p> <p><span style="font-size:18px">The market-friendly monetary policy of the Nepal Rastra Bank, state of liquidity, interest rates, economic growth, and political situation all play a crucial role in determining the course of the stock market. </span></p> <p><span style="font-size:18px">The sooner the NRB comes up with market-friendly policies, the faster interest rates fall, and economic growth increases, the sooner we will see another bull market in the NEPSE.</span></p> <p><span style="font-size:18px">As they say, "there is light at the end of the tunnel," and NEPSE will surely overcome all the challenges and hindrances to break the previous all-time high and make another record. </span></p> <p><span style="font-size:18px">Till then, investors have no choice but to manage their risk and wait patiently. The stock market is unpredictable, and it is important to keep a long-term perspective while investing and not panic during short-term fluctuations.</span></p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17615', 'image' => '20230517105452_bull-market.jpg', 'article_date' => '2023-05-17 10:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17881', 'article_category_id' => '251', 'title' => 'Marijuana as a Medicine: Weighing Benefits and Harms', 'sub_title' => '', 'summary' => 'Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 17: Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. </span></p> <p><span style="font-size:18px">The World Health Organization reported in 2016 that 4% of the global population (192 million people) consumes marijuana illegally, with 40% of Americans having taken the drug at least once in their lifetime. </span></p> <p><span style="font-size:18px">Marijuana consumption is most prevalent among males and teenagers, but its use is also growing among women. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) present in Cannabis sativa, indica, and ruderalis are known to have the power to intoxicate and cause addiction.</span></p> <p><span style="font-size:18px">Marijuana is consumed in various forms and quantities, for example cannabis has about 1% and sinsemilla up to 5-6%. The plants are also used to make textiles, pickles, and drinks. </span></p> <p><span style="font-size:18px">The voices for the legalization of marijuana farming, sale, and use for entertainment and medicinal purposes are being raised worldwide, including in Nepal.</span></p> <p><span style="font-size:18px">In 2020, Nepal voted to reclassify and reconsider marijuana from Schedule IV, which includes drugs that cannot be used even for medical treatment. There has been estimation that if legalized, marijuana could generate up to NPR 146 billion by 2025, transforming the country's development. </span></p> <p><span style="font-size:18px">Apparently, there has been flood of fiery and attractive speeches, deliberations, interviews, news and articles from so-called leaders and scholars in its favor. </span></p> <p><span style="font-size:18px">However, as an expert in mental health working for over two decades, I have witnessed marijuana destroying many lives and families in all setups, including out-patient departments, wards, emergency, and other setups. </span></p> <p><span style="font-size:18px">Even today while sitting to write this article, one third of psychiatry ward patients has history of cannabis use and 23% fulfill the criteria for dependence.</span></p> <p><span style="font-size:18px"> I have seen many people losing their lives to the drug, and many families suffering for years due to the drug. But few of them including literate college students have scientific knowledge and information about it. </span></p> <p><span style="font-size:18px">They claim that marijuana is good for health and easily available. It is extremely distressing to witness the current state with the flood of ideas and arguments in its favor on one hand and my own first hand observation of devastating effects on the other. It warrants reviewing the harm and benefits of this substance as a medicine.</span></p> <p><span style="font-size:18px"> This article is an audacity based on our effort to review the benefits and harms of medicinal use of cannabis which has been published as a journal article. The author leaves the responsibility of analyzing and adopting the fact to the wise readers themselves. </span></p> <p><span style="font-size:18px">CBD present in marijuana is used as medicine to treat some health issues, including vomiting and special type of seizure. The US Food and Drug Administration has given permission to use marijuana for these two purposes. </span></p> <p><span style="font-size:18px">Claims have also been made that marijuana has a positive impact on the treatment of Parkinson's disease and multiple sclerosis, but there is no evidence to support these claims. </span></p> <p><span style="font-size:18px">While cannabis is touted to stop vomiting and treat problems in ligaments, its use is reported to have aggravated these problems to the intractable forms. </span></p> <p><span style="font-size:18px">During the COVID-19 pandemic, some chemicals in marijuana were publicized to have a positive effect on lungs, but later, they were found to have other chemicals causing serious problems in lungs, including even cancer. </span></p> <p><span style="font-size:18px">Reports have come out showing that marijuana has various types of cancer-causing chemicals more than in tobacco and cigarettes. People who take marijuana to increase their appetite for food usually have further lost their interest in food and fallen victim to malnutrition. </span></p> <p><span style="font-size:18px">Although marijuana has been mentioned in some medical literature as beneficial for the treatment of mental problems, its uses for emotional and mood disorders are not appropriate, as it may cause panic and other anxiety disorders among the users. </span></p> <p><span style="font-size:18px">Marijuana is also considered beneficial to treat mood disorders, such as depression and mania. However, those people using cannabis usually require visiting psychiatrist when they are hit severely with co-morbid depression and mania. It has also been seen in one of our recent studies. </span></p> <p><span style="font-size:18px">Using marijuana as medicine for mood disorders is, hence, not appropriate. It is common to see that people taking alcohol and other drugs often turn to marijuana and vice-versa.</span></p> <p><span style="font-size:18px">Marijuana is believed to have some benefit even in some type of psychosis. Whereas the reality is that marijuana consumption may cause the onset of serious mental problems such as psychosis, with single use of small amount, frequent or regular longstanding use.</span></p> <p><span style="font-size:18px"> For those who have genetic predisposition, it may act like a match stick. The worsening of situation and increasing prevalence of psychosis has lately increasingly been reported in countries that have legalized it and have increased marijuana consumption. </span></p> <p><span style="font-size:18px">Those who advocate for marijuana legalization argue that marijuana can be used as medicine, like opiate in the right amount. The issue of marijuana consumption is a complex one that requires a thorough analysis of its potential benefits and harms. </span></p> <p><span style="font-size:18px">Before we allow the widespread use of marijuana, it is important to carefully consider its intended purpose, the types of positive and negative effects it may have, and whether we can accurately predict its effects.</span></p> <p><span style="font-size:18px">While some argue that marijuana consumption has potential therapeutic benefits, evidence shows that it can have more harms than good sides. </span></p> <p><span style="font-size:18px">There is an established evidence to show the harms of marijuana. But, we are yet to receive the evidence to substantiate its positive side. Reports suggest that its use may cause death by obstructing the heartbeat and lead to psychosis.</span></p> <p><span style="font-size:18px"> Studies have also shown that marijuana can have serious impacts not only on frequent users but also on one-time users.Moreover, since marijuana is plant-based rather than a medicine, its quantity is extremely variable and unpredictable and it has some impurities in products in reality as well. </span></p> <p><span style="font-size:18px">Legalization may result in uncontrolled use of the drug, leading to severe outcomes, also raising false impression among common people about its benefits. Therefore, it is crucial to implement strict regulations and to educate the general public, students, teachers, and parents on the potential risks of using marijuana.</span></p> <p><span style="font-size:18px">However, a complete ban on marijuana and legal restrictions may not be the solution. Such measures may create a black market, cause the state to lose revenue, and increase criminal activity.</span></p> <p><span style="font-size:18px"> Instead, we need to promote scientific research studies, update existing laws based on scientific evidence, and aim to promote public health and awareness of policies.</span></p> <p><span style="font-size:18px">As a country with ignorance, poverty, weak governance, and a backward economy, Nepal must be vigilant when observing other countries' stance on marijuana legalization. We must not blindly follow their example but make decisions based on our specific circumstances.</span></p> <p><span style="font-size:18px">Therefore, if you hear someone say or see an advertisement claiming that "marijuana is a wonder drug," it is important to verify the facts and think twice before using it. We must analyze the available evidence thoroughly before making any decision regarding its use.</span></p> <p><span style="font-size:18px">Prof. Dr. Dhana Ratna Shakya is Head at the Department of Psychiatry <br /> in B. P. Koirala Institute of Health Sciences (BPKIHS), Dharan, Nepal. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17612', 'image' => '20230517062400_collage (1).jpg', 'article_date' => '2023-05-17 06:09:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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This ancient practice, deeply rooted in the meditative traditions of Buddhism and Hinduism, has garnered renewed interest as a powerful tool for mental health and wellness. By integrating mindfulness with traditional healing practices, modern therapeutic approaches, and innovative business models, Nepal can cultivate a holistic framework for mental well-being. Traditional healing in Nepal, woven into the cultural fabric, often incorporates mindfulness elements. Practices such as yoga, meditation, and rituals performed by shamans and Ayurvedic healers emphasize mental and spiritual balance, aligning closely with the principles of mindfulness. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Leveraging these age-old practices, mental health professionals can create culturally resonant approaches to mindfulness that respect and utilize Nepal’s rich heritage. Modern therapeutic techniques, such as cognitive-behavioral therapy (CBT) and mindfulness-based stress reduction (MBSR), can complement traditional practices. These evidence-based methods help manage stress, anxiety, and depression, promoting a comprehensive mental health strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Training local therapists in these modern techniques and integrating them with traditional practices can offer a unique and effective approach to mental wellness. Additionally, the growing wellness tourism industry in Nepal presents valuable business opportunities for promoting mindfulness. Wellness retreats and mindfulness centers can attract both locals and international visitors seeking spiritual and mental rejuvenation. These centers can serve as hubs for teaching mindfulness practices, blending traditional and modern methods, and fostering a supportive community. By integrating traditional healing practices, modern therapies, and innovative business models, Nepal can effectively nurture mindfulness. This multifaceted approach enhances mental health and wellness services while preserving and promoting the country’s rich cultural heritage, positioning Nepal as a leading destination for mindfulness and holistic well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Main Issue</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main issue lies in the slow adoption of mindfulness practices into mainstream Nepalese society despite their significant potential to enhance mental health and well-being. Mindfulness, a practice that cultivates present-moment awareness, holds the promise of reducing stress and promoting mental clarity by helping individuals anchor themselves in the present. This practice mitigates the impact of past regrets and future anxieties, fostering a state of calm and balance that is crucial in today’s fast-paced world. Mindfulness enables individuals to pause, breathe, and observe their thoughts without judgment, leading to clearer and more focused minds, improved emotional regulation, and better responses to situations with greater patience and understanding.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Moreover, mindfulness enhances empathy, a critical component for strengthening relationships. By being fully present during interactions, individuals become more attuned to the emotions and needs of others, enhancing their capacity for compassion and connection. This heightened empathy not only improves personal relationships but also fosters a more harmonious community atmosphere. Additionally, practicing mindfulness contributes to better focus and decision-making as individuals become adept at filtering out distractions and concentrating on tasks, leading to increased productivity and efficiency in both professional and personal contexts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite these myriad benefits, the integration of mindfulness into Nepalese society faces several challenges. Cultural, educational, and socio-economic factors contribute to the slow adoption of mindfulness practices. Traditional Nepalese culture, while deeply spiritual, may not yet fully embrace contemporary mindfulness practices as part of daily life. Furthermore, there might be a lack of awareness or access to structured mindfulness programs. To address this issue, concerted efforts in education, advocacy, and the creation of accessible mindfulness initiatives are required. Such efforts would bridge the gap, promoting mindfulness's benefits and enhancing the overall well-being and quality of life for all Nepalese individuals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Recommendations</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindfulness-Based Interventions (MBIs) Integration</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Establish dedicated centers that offer mindfulness training workshops, meditation sessions, and yoga classes. These centers can serve as hubs for holistic wellness.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with traditional healers and Ayurvedic practitioners to create comprehensive wellness programs. By combining ancient wisdom with modern practices, you can address physical, mental, and emotional well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Integrate mindfulness practices into existing mental health services. Emphasize present-moment awareness, non-judgment, and self-compassion. This can enhance therapeutic outcomes and promote resilience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Cafés and Restaurants</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Imagine serene dining spaces within healing centers or standalone restaurants, designed to promote mindfulness during meals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Café and Juice Bar</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Offer fresh, organic juices, smoothies, and herbal teas. Prioritize ingredients that nourish the body and mind.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Create a calming ambiance using natural materials, soothing colors, and soft music. Consider incorporating elements like indoor plants or a small water fountain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dedicate a corner for wellness resources—a mini library with books on mindfulness, nutrition, and holistic living.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Plant-Based Restaurant</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Focus on plant-based dishes that promote health and vitality. Collaborate with local farmers to source seasonal, organic produce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Craft a menu that celebrates the flavors of Nepal while aligning with mindful eating principles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Educate diners about the benefits of plant-based nutrition and its positive impact on overall well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful Movement and Activities</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Organize meditation retreats in serene locations across Nepal. Participants can immerse themselves in mindfulness practices such as guided meditations, breath awareness, and walking meditations during morning and afternoon meditation sessions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful activities:</span></strong><span style="font-size:14.0pt"> Yoga, tai chi, or qigong. Encourage participants to connect with their bodies and the present moment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Communal meals:</span></strong><span style="font-size:14.0pt"> Practice mindful eating together, savoring each bite and appreciating the nourishment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Community Engagement and Cultural Sensitivity: </span></strong><span style="font-size:14.0pt">Involve local communities in designing and implementing mindfulness programs. Seek their input and adapt practices to align with Nepalese traditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with monasteries, temples, and spiritual leaders. Their guidance can enrich mindfulness practices and foster community support.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Respect cultural norms and sensitivities. Mindfulness should be accessible and inclusive, honoring diverse backgrounds and beliefs.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Conclusion</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By highlighting the intrinsic connection between food, well-being, and mindfulness, Nepal has the potential to become a global hub for holistic wellness. This transformation necessitates collective efforts from various sectors, including government, local communities, and wellness practitioners. Collaboration among these stakeholders can foster an environment where the rich cultural heritage of Nepal is seamlessly integrated with modern wellness practices. Understanding and respecting cultural nuances are crucial, as they form the backbone of Nepalese society and influence people's daily lives and practices. As Nepal increasingly embraces mindfulness, its citizens can experience profound benefits. Mindfulness practices, deeply rooted in Nepal's spiritual traditions, can enhance resilience, helping individuals better manage stress and adversity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, these practices can promote balance in daily life, fostering a harmonious relationship between mind, body, and environment. By focusing on mindful eating and well-being, people can achieve greater fulfillment, leading to a healthier, more content society. The holistic approach to wellness in Nepal not only nurtures individual health but also contributes to a more sustainable and compassionate community. As mindfulness permeates various aspects of life, from dietary choices to interpersonal relationships, it fosters a culture of awareness and intentional living. This cultural shift can position Nepal as a beacon of holistic wellness, attracting visitors seeking authentic and transformative health experiences. Ultimately, by embracing the synergy of food, well-being, and mindfulness, Nepal can inspire a global movement towards more integrated and mindful living, benefiting not only its own people but also setting a precedent for other nations to follow.</span></span></span></p> <p><span style="font-size:18px"><em><span style="font-family:Calibri,"sans-serif"">(Sweksha Lakhe is an MBA student at South Asian Institute of Management with specialization in HR and Aasha Kiran Chapain is an MBA student at South Asian Institute of Management with specialization in Finance)</span></em></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-22', 'modified' => '2024-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '20779', 'image' => '20240522025819_consciousness-meditation-neurosicnce.jpg', 'article_date' => '2024-05-22 14:57:12', 'homepage' => true, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19004', 'article_category_id' => '251', 'title' => 'The Abraham Accords: Celebrating Three Years of Regional Cooperation', 'sub_title' => '', 'summary' => 'September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Hanan Goder</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.Three months later, in December 2020, Morocco joined the process, signing a normalization agreement with Israel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The catalyst that enabled thesehistoric accords was the conscious decision taken by the parties to promote a stable and prosperous future for the Middle East.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The agreements have ushered in a new era of normalization and peace that not only connects governments butalso bringspeople together, despite differences in language, religious beliefs, cultures and more. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, the Abraham Accords have offered a mere glimpse into the full potential of regional cooperation. Even so, the scope of trade between Israel and other Middle Eastern countries increased 74% between 2021 and 2022. Another example is tourism, mostly non-existent in the past, which has skyrocketed. In 2021, visits from Israel to the UAE increased by 172%. Meanwhile, the number of Israelis flying to Bahrain since the establishment of direct flights has increased exponentially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The accords have also had a significant influence on reinforcing Israel's relations with neighboring countries, thereby enhancing regional stability. For example, the Prosperity Green & Blue agreement between Israel, the UAE, and Jordan determined that asolar field tosupply 600 megawatts of green electricity to Israel will be established in Jordan, whilein return,a desalination plant in Israel will deliver 200 million cubic meters of water to Jordan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a region where 65% of the population is under 30, providing the younger generation with opportunities is a key factor in preventing instability. To that end, youth delegations have been initiated, encouraging bonds between tomorrow's leaders and laying thefoundation for cooperation in the decades to come.Delegationsin which young influencers experience eachother's cultures and visitimportant religious and historic sites while focusing on community building are an effective tool in strengthening ties. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Importantly, the youth of the relevant countries have subscribed wholeheartedly to the principles of acceptance, cooperation and peace highlighted in the accords, communicating to the region that these ideals are the building blocks of the future. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords encourage collaboration and education. In the summer of 2022, Ben-Gurion University welcomed students from Morocco. Additionally, a number of Emirati students have enrolled in Israeli universities. Bahrain has also embraced the prospects for shared educational activities and signed a number of agreements with Israel to advance student and professor exchanges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In anotable example of how these initiatives can foster mutual understanding, after Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited the Yad Vashem Holocaust Remembrance Center in Jerusalem, the UAE incorporated Holocaust education into its school curriculum as a mandatory subject, attestation to the ability of the Abraham Accords to fostercoexistence and religious tolerance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords have shown unity's power to inspire and provide opportunity.Theyoffer a window into a potential future of the region and demonstrate that when both leaders and ordinary citizensprioritize peace and cooperation, a far better future for the Middle East is possible.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israel hopes that many more countries will join this endeavor, creatingabrighter tomorrow for the sake of all our children.</span></span></span></p> <p><em><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">(The author is the Ambassador of Israel to Nepal)</span></span></span></em></p> <p> </p> ', 'published' => true, 'created' => '2023-09-15', 'modified' => '2023-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '18733', 'image' => '20230915081359_accord.jpg', 'article_date' => '2023-09-15 20:13:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18851', 'article_category_id' => '251', 'title' => 'Remittance: A Key Element in Nepal's Socio-Economic Landscape', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 28: In the fiscal year 2022/23, an astonishing 771,000 young individuals embarked on foreign employment from Nepal, according to the Department of Foreign Employment (DoFE). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This figure includes both new and re-permit workers who acquired work permits during the fiscal year 2022/2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparatively, during the preceding fiscal year 2021/22, a total of 637,133 workers pursued foreign employment. This reflects a substantial increase of 134,214 individuals opting for work permits abroad compared to the year before.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has about 200 years of history of its young individuals seeking employment opportunities abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, Nepali men ventured to foreign lands for various reasons, including work and participation in world wars. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many youths went to India to find employment, and some even served as soldiers in the First and Second World Wars. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite this long history, official records about the population's migration to India and other countries for jobs in the nineteenth century are lacking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2000-01, over 55,000 Nepalis went abroad due to the country's economic challenges resulting from the conflict. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the last two decades, remittance inflows have grown significantly. In 2000-01, remittances Nepal received stood at Rs 47 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, in the fiscal year 2022/2023, remittance inflow has surged to Rs 1220.56 billion, as reported by Nepal Rastra Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Popular job destinations for Nepali youths include Qatar, Malaysia, Saudi Arabia, UAE, and South Korea.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Role of Remittance in Nepal's Economy</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remittance serves as the backbone of Nepal's economy and correlates with improved health and social indicators. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a consistent inflow of remittances, Nepal has experienced transformation across various sectors, including poverty reduction, increased consumption, and bolstered foreign exchange reserves.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Contribution to GDP:</strong> Remittances play a crucial role in Nepal's economy, significantly contributing to the Gross Domestic Product (GDP). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They represent a stable and growing source of foreign exchange earnings, often constituting a substantial portion of Nepal's overall GDP. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2022/2023, remittance's contribution to Nepal's GDP was 22%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Poverty Alleviation</strong>: Remittances have been instrumental in reducing poverty and enhancing the living standards of many Nepali households. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Families receiving remittances often witness a rise in disposable income, which can be directed towards education, healthcare, housing, and other essential needs. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's poverty rate decreased from 25.2% in 2010 to 16.6% in 2019, largely attributed to increased remittance earnings, according to a study. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Household Consumption:</strong> The influx of remittances stimulates household consumption, driving demand for goods and services across various sectors. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This increased demand can fuel economic growth, generate jobs, and create business opportunities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A survey by Nepal Rastra Bank in 2014-15 revealed that 23.9% of remittance funds were spent on essentials like food and clothing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Foreign Exchange Reserves</strong>: Remittances contribute to building and maintaining Nepal's foreign exchange reserves, crucial for stabilizing the country's currency and managing its balance of payments. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adequate foreign exchange reserves ensure import stability and economic resilience. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2022/2023, remittance inflow reached Rs 1220.56 billion, bolstering Nepal's foreign exchange reserves, which stood at Rs 1539 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Investment and Savings</strong>: Remittances encourage increased savings and investment within Nepal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Some households receiving remittances allocate funds to start businesses, invest in agriculture, or make other productive ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Real Estate and Construction</strong>: A portion of remittances often flows into the real estate and construction sectors. Remittances sent by migrant workers have driven growth in Nepal's real estate sector, particularly in urban areas like Kathmandu, where property purchases and construction have surged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Education and Skill Development</strong>: Remittances enable families to invest in education and skill development. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many migrants send money back home to support their children's education, contributing to the country's human capital development. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The increase in private English-medium schools in Nepal is attributed to remittances from migrant workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many uneducated migrant workers working in the foreign lands have sent their kids to pursue higher education in the USA, Australia, Canada and the United Kingdom with remittances. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Challenges and the Path Ahead</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While remittances yield numerous benefits, they also bring challenges. Nepal's economy has grown reliant on remittance inflows, rendering it susceptible to global economic fluctuations and shifts in migration patterns.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this, policymakers and stakeholders must collaborate to diversify the economy, promote domestic industries, expand tourism, and create an environment conducive to sustainable growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, while the demand for Nepali labor abroad is increasing, challenges such as bureaucratic hurdles and political deadlocks within Nepal persist. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate these challenges, Nepal should expedite Government-to-Government (G2G) labor agreements with new destination countries, ensuring fair treatment and suitable compensation for migrant workers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> It's also essential to ensure that Nepali migrant workers are equipped with the necessary skills and knowledge before heading for foreign employment to secure higher-paying jobs that match their expertise.</span></span></p> ', 'published' => true, 'created' => '2023-08-28', 'modified' => '2023-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '18580', 'image' => '20230828055728_collage (1).jpg', 'article_date' => '2023-08-28 05:51:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18673', 'article_category_id' => '251', 'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad', 'sub_title' => '', 'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, "What motivated you to opt for A-levels?" To this, she promptly responded, "A-levels serve as a direct passport for international opportunities," highlighting their potential to facilitate for overseas education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A’s across all subjects. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a café and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master's Degree at a reputable university in either the US or Canada.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle's house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan’s proficiency in English. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade," my uncle commanded me.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don’t even recognize your efforts. They say, “he started a business because he could not go abroad”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of "prestige and status in society."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like "My son resides in the USA" or "My daughter holds permanent residency in Canada" often serve to boost parent’s egos within the community.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children's progress with those of their peers and ask questions like, "Your friend has already sent money and phones to his parents. When will you start working and earning? Why don't you apply and go abroad like them?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today's rapidly evolving world.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal's education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students' academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal's education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“There is pervasive political interference within academic institutions. Regrettably, campuses have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve as distressing indicators of the chaos and impunity that have permeated Nepal's education system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students' ability to succeed in the real world. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today's fiercely competitive job market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion: </strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-08', 'modified' => '2023-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '18402', 'image' => '20230808061226_collage (6).jpg', 'article_date' => '2023-08-08 06:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18280', 'article_category_id' => '251', 'title' => 'Arrival of Tourists up by 45 % Compared to 2022', 'sub_title' => '', 'summary' => 'June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">MK Kulung</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal. According to Nepal Tourism Board’s data, altogether 55,074 foreigners visited Nepal in January, 73,255 in February, 99,426 in March, 98,773 in April and 77,703 in May. In the six months of 2022, only 237,000 foreign tourists had visited Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data, the first five months of 2023 saw a 45 percent growth in arrival of tourists compared to the corresponding period of 2022. Therefore, if foreign tourists arrive at the same rate this year, there is a possibility that the number of tourists in Nepal will increase to the mark of 1 million. Likewise, in the six months of 2022, Nepal earned foreign currency equal to Rs 25.52 billion from tourism. However, in the year 2023, the data regarding how much money they spent in a period of five months has not come out yet.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the same period of the fiscal year 2077-078 (the year 2021), tourism contributed Rs 6.69 billion to the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At the end of December 2019, not only Nepal's tourism industry, but the world's tourism industry had to suffer an unexpected shock due to Covid-19 which spread from China’s Wuhan, the capital of the South-eastern province of Hubei, and gradually took over the global. However, now that the World Health Organization (WHO) has declared the end of Covid-19 as a global emergency and world tourism activities are gaining momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, if we look at the history of tourism in Nepal, it is only since 1963 that the government of Nepal has officially started keeping statistics of foreign tourists visiting Nepal. After almost 60 years since then, i.e. in 2023, the number of foreign tourists coming to Nepal is increasing, which is a very good sign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Looking at the encouraging number of foreign tourists who visited Nepal in recent years, the government of Nepal announced that 2018 will be celebrated as the Visit Nepal Year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">But in 2018, due to various reasons, it was not possible to celebrate the Visit Nepal Year, and preparations were made to celebrate 'Visit Nepal Year-2020' again in 2020 with an ambitious plan to attract two million foreign tourists in a year. However, due to the Covid-19 pandemic, the Government of Nepal postponed the 'Visit Nepal Year-2020'. Although all the preparations were completed and some programs were implemented, and the inauguration was done, it had to be postponed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At that time, experts in the world's tourism industry estimated that it would take at least 2024/26 for the tourism industry to return to normalcy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the future, it seems that efforts should be made to attract as many Chinese tourists as possible to Nepal. If this can be done, the Nepali tourism industry will progress quickly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data compiled by various organizations related to world tourism, including UNWTO, Chinese tourists have consistently ranked among the highest-spending tourists in the world.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Also, based on the number of Chinese tourists, they are ranked at the top among people going on the world tour. Recently, in collaboration with the Chinese people, a dragon boat competition was organized in Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Chinese tourists who took part in it chartered a plane and landed in Pokhara. This has raised the prospects of Chinese tourists coming to Pokhara in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the recent past, the second largest number of tourists visiting Nepal were Chinese after the Indians. This is not the case at present, but it can be expected that Chinese tourists will increase. For them, Pokhara is the most attractive tourist destination in Nepal. That's why they seem eager to come to Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that various tourist infrastructures built there have also attracted Chinese tourists. Nepali businessmen should take the initiative to bring Chinese tourists to Nepal through chartered flights. If this can be done, it seems that Nepal's tourism will be completely revived. However, their expenses seem to depend on the activities conducted here.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-26', 'modified' => '2023-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '18011', 'image' => '20230626010005_20230623024119_KrishnaDawadi_Kaski_RSS_08_boatracecometion.jpg', 'article_date' => '2023-06-26 12:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17981', 'article_category_id' => '251', 'title' => 'Unlocking Investment Potential in Nepal: Exploring the Stock Market as a Path to Wealth Creation', 'sub_title' => '', 'summary' => 'Of three major areas of investment, stock market offers a comprehensive and wide-ranging avenue for investment in Nepal, allowing all kinds of investors-institutional and retailers- to create capital by outpacing inflation and fixed deposit returns. ', 'content' => '<p><span style="font-size:18px">May 26: While Nepal's investment options maybe limited, it is important to recognize that investing remains the most reliable approach to outpacing inflation, creating capital, and generating substantial wealth. </span></p> <p><span style="font-size:18px">Although depositing money in bank accounts can yield modest returns, it falls short in terms of multiplying capital and enabling the creation of significant wealth.</span></p> <p><span style="font-size:18px">Nepal has primarily three areas available for investment- real estate, business and stock market. Once upon a time, investing in real estate was widely regarded as one of the most lucrative endeavors. </span></p> <p><span style="font-size:18px">If you had invested Rs 1 to 3 million in the early 2000s, the potential for exponential returns was immense, with the possibility of multiplying your capital by up to tenfold. Savvy investors who entered the real estate market in Kathmandu and other major cities during that era reaped massive wealth within a decade.</span></p> <p><span style="font-size:18px">However, the tides have turned in the realm of real estate. Land sizes have diminished, and the value of land has skyrocketed to exorbitant levels. Presently, even the farthest outskirts of the Kathmandu valley have per anna land prices ranging from 25 to 30 lakhs. </span></p> <p><span style="font-size:18px">As a result, individuals with limited capital shy away from investing in real estate due to the lack of sufficient funds. Additionally, the Nepal Rastra Bank has imposed stringent lending regulations on real estate, allowing only 30 percent loan against the total collateral valuation for homes and land. This not only makes it challenging for small-scale investors but also poses difficulties for larger investors looking to venture into the real estate market.</span></p> <p><span style="font-size:18px">Moreover, the government has introduced new legislation that classifies land into ten categories based on various features and geographic considerations. These categories include agricultural, residential, commercial, industrial, mines, forests, public use, and cultural-archeological designations, among others. </span></p> <p><span style="font-size:18px">Furthermore, land plotting has been prohibited unless the land has been appropriately classified, further complicating and diminishing the viability of real estate investments.</span></p> <p><span style="font-size:18px">Engaging in business endeavors within Nepal presents significant challenges, particularly for newcomers and those lacking experience. The country boasts several well-established business conglomerates with a global presence, including the likes of Chaudhary Group, Golchha Organization, Murarak Group, Chachan Group, Golyan Group, Kedia Organization, Khetan Group, Vishal Group, Vaidya Organization of Industries and Trading Houses (VOITH), Prabhu Group, Laxmi Group, Shanker Group, Universal Group, IME Group, and Jyoti Group. </span></p> <p><span style="font-size:18px">These influential entities exert control over a wide range of sectors encompassing manufacturing, trade, banking, insurance, healthcare, agriculture, hydropower, tourism, real estate, food and beverage, as well as vehicle import and sales.</span></p> <p><span style="font-size:18px">For individuals entering the business arena with limited capital and lacking political and bureaucratic connections, competing with these established business houses proves immensely challenging. Newcomers and aspiring entrepreneurs rarely manage to establish themselves successfully in the business world due to these barriers.</span></p> <p><span style="font-size:18px">Furthermore, the majority of people in Nepal tend to be risk-averse and lack the courage to venture into entrepreneurial pursuits. Additionally, the insufficient capital resources further hinder their ability to start their own businesses.</span></p> <p><span style="font-size:18px">Although a nascent startup culture has begun to emerge in Nepal, the government is yet to formulate comprehensive laws and regulations to promote and support such initiatives. All these factors contribute to the prevailing perception that doing business in Nepal is a daunting and arduous task.</span></p> <p><span style="font-size:18px">Investing in Nepal's stock market offers a comprehensive and wide-ranging avenue for investment. While there are stories of individuals losing their assets and even resorting to extreme measures due to stock market investments, many people remain hesitant to participate in the secondary market due to perceived risks. These cautionary tales serve as warnings, deterring others from venturing into the stock market.</span></p> <p><span style="font-size:18px">Undoubtedly, investing entails risks, and the stock market is no exception. However, a careful study and analysis of the stock market reveal that it is not as perilous as commonly portrayed. </span></p> <p><span style="font-size:18px">Despite inherent risks, stock market presents ample benefits. One of the advantages is the ability to start investing with any amount of surplus funds, whether it's Rs 50,000, Rs 5,000,000, or even higher. Unlike other ventures like businesses or real estate, which often require substantial capital, the stock market allows individuals to embark on their investment journey with any available surplus fund. </span></p> <p><span style="font-size:18px">Unlike real estate, which typically maintains its value even during bearish periods, the secondary market, NEPSE, moves in cycles of bullish and bearish trends. This presents an opportunity to purchase shares of favored companies at low prices during downward trends. </span></p> <p><span style="font-size:18px">In contrast, it is rare to find heavily discounted land or properties in the real estate market during downturns. In the stock market, one is never left behind, always having the chance to acquire shares of top-performing companies at unimaginably low prices.</span></p> <p><span style="font-size:18px">Another advantage of the stock market is its liquidity. Life's uncertainties may require immediate financial solutions, such as medical emergencies, funding for education, or urgent travel expenses. </span></p> <p><span style="font-size:18px">In such cases, selling shares can provide the necessary cash. Real estate investments may not provide the same level of flexibility in addressing immediate and urgent financial needs, especially during downturns when selling property becomes challenging.</span></p> <p><span style="font-size:18px">The stock market offers a wide range of options to choose from, with numerous real and manufacturing sectors, banks, and insurance companies listed on NEPSE. These listed companies operate real businesses in the tangible world. </span></p> <p><span style="font-size:18px">By conducting thorough analyses and investing in companies with growth and expansion potential, there is a significant opportunity to multiply investments. A company valued at Rs 10 million can grow into a billion-dollar enterprise, resulting in an unimaginable expansion of one's portfolio. In contrast, the size of land remains fixed, limiting its growth potential.</span></p> <p><span style="font-size:18px">The stock market experiences cycles of bears and bulls. By studying technical charts, indicators, and keeping an eye on fundamental factors such as the country's economy, interest rates, liquidity in the banking system, and political conditions, investors have a chance to multiply their capital within a short period. Such rapid growth opportunities are not as readily available in real estate or start-up businesses.</span></p> <p><span style="font-size:18px">Investing in the stock market offers transparency and convenience. While buying real estate often involves inspecting numerous plots before making a decision, studying and researching companies listed on NEPSE can be done from the comfort of one's home. </span></p> <p><span style="font-size:18px">Transaction costs, including broker commissions, taxes, and regulatory fees, are fixed and transparent, ensuring fair dealings without any hidden agendas. Stock markets are regulated and operate under strict rules, providing transparency and investor protection. Access to company information, financial reports, and market trends empowers investors to make informed decisions.</span></p> <p><span style="font-size:18px">Diversification is another bright side of investing in NEPSE. It allows investors to spread their investment across different sectors, such as banking, insurance, manufacturing, hotels and tourism, and investments, among others. </span></p> <p><span style="font-size:18px">This diversification helps to reduce overall risk and potentially increase overall portfolio returns. Even if losses occur in one company, they can be offset by profits from another, minimizing the impact of individual setbacks.</span></p> <p><span style="font-size:18px">Nepal's stock market holds significant promise as an emerging market, indicating considerable potential for growth. Emerging markets, being in the early stages of economic development, often offer higher returns compared to established markets.</span></p> <p><span style="font-size:18px">Investing in NEPSE can be particularly advantageous for long-term investors who are willing to hold their investments over an extended period. As Nepal's economy continues to progress and mature, the stock market has the potential to deliver substantial returns for patient investors.</span></p> <p><span style="font-size:18px">Another benefit of investing in NEPSE is the opportunity to earn dividend income. Many companies distribute a portion of their profits to shareholders in the form of dividends. This practice provides a reliable and steady stream of income, making dividend-paying stocks attractive for income-oriented investors seeking regular cash flow. </span></p> <p><span style="font-size:18px">By investing in such stocks, investors can benefit from both potential capital appreciation and recurring dividend payments, enhancing their overall investment returns.</span></p> <p><span style="font-size:18px">After analyzing the four bullish and bearish trends in the NEPSE, it becomes evident that newcomers tend to enter the stock market when the bull run is at its peak. Their decision is often influenced by hearing about their friends and neighbors making substantial profits.</span></p> <p><span style="font-size:18px">Conversely, experienced and savvy investors choose to exit their positions during the mid to peak points of a bullish trend. Unfortunately, newbies enter the market at this juncture, experiencing initial gains and a sense of elation. </span></p> <p><span style="font-size:18px">However, as the market eventually shifts into a bearish mode, their hopes of quick and easy profits are shattered. This unfavorable turn of events often leads to significant financial losses, feelings of despair, and even cases of suicide, thereby spreading negative sentiments about the stock market.</span></p> <p><span style="font-size:18px">Ultimately, the success of investing in the NEPSE stock market relies on taking certain precautions and adopting a strategic approach. By considering the following guidelines, individuals can enhance their chances of making informed investment decisions and creating wealth:</span></p> <p><span style="font-size:18px">1. Study the bullish and bearish trends in the stock market to understand the market dynamics and identify favorable entry and exit points.<br /> 2. Develop a basic understanding of technical charts, which can provide insights into price patterns and trends.<br /> 3. Conduct thorough research on companies, analyzing their past performance, current situation, and potential for future growth.<br /> 4. Capitalize on opportunities when the market is in a bearish trend, as this may present favorable prices for acquiring stocks.<br /> 5. Take advantage of bullish trends by selling stocks and patiently waiting for opportune moments to reinvest your money.<br /> 6. Avoid being swayed by rumors and hearsay, as they can often mislead investors.<br /> 7. Stay informed about the state of liquidity in banks, interest rates, and the overall financial condition of the country, as these factors can impact stock market performance.<br /> 8. Consider the effects of major calamities, pandemics, and unforeseen disasters, as the NEPSE has historically experienced growth following such events.<br /> 9. Select a few top-performing companies with growth prospects from various sectors and focus your investments on them.</span></p> <p><span style="font-size:18px">By following these precautions and guidelines, investors can approach the stock market with a more informed and calculated approach, increasing their chances of success and wealth creation.</span><br /> </p> ', 'published' => true, 'created' => '2023-05-26', 'modified' => '2023-05-26', 'keywords' => '', 'description' => '', 'sortorder' => '17712', 'image' => '20230526060045_collage (12).jpg', 'article_date' => '2023-05-26 05:40:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17884', 'article_category_id' => '251', 'title' => 'The History and Causes of Bullish and Bearish Trends in the Nepal Stock Exchange (NEPSE)', 'sub_title' => '', 'summary' => 'Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. ', 'content' => '<p><span style="font-size:18px"> </span></p> <p><span style="font-size:18px">May 17: The history of the share market in Nepal is relatively short compared to other countries. The Nepal Stock Exchange (NEPSE) was established in 1993 as the country's only stock exchange. As the only stock exchange company, the Nepal Stock Exchange (NEPSE), formally opened its trading floor on13th January 1994. </span></p> <p><span style="font-size:18px"> Initially, NEPSE had only 37 listed companies, and trading was conducted manually using an open outcry system. However, in recent years, NEPSE has modernized its trading platform, and as of 2023, there are around 269 listed companies. </span></p> <p><span style="font-size:18px"> Recent data at the Central Depository Services and Clearing Limited (CDSC) show that the number of Demat account holders in Nepal has surpassed 5 million. </span></p> <p><span style="font-size:18px">Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. </span></p> <p><span style="font-size:18px">This article will explore the timeline of bullish and bearish trends in the NEPSE Index, analyzing the underlying economic and political causes that drove these fluctuations.</span></p> <p><span style="font-size:18px"><strong>Reasons behind the 2000 NEPSE Index crash </strong><br /> The Nepal Stock Exchange (NEPSE) index gained bull run pace from 1999 which tripled in around two and half years, and reached a high of 545.82 on November 23, 2000. </span></p> <p><span style="font-size:18px">However, within a short period of one and a half years, the NEPSE index crashed to a low of 186.22 points, and it took another five years for the index to surpass its previous high of 545.82 points.</span></p> <p><span style="font-size:18px">One of the main reasons behind the 2000 NEPSE index burst was the declining GDP growth rate. From 1994 to 1999, the GDP growth rate was impressive, averaging at 6%. However, in 2000, the GDP growth rate dropped to 4.80% followed by a further decline to 0.10% in 2001. </span></p> <p><span style="font-size:18px">The agricultural sector, which is a significant contributor to Nepal's GDP, suffered from low productivity due to drought and unfavorable weather conditions, as the country lacked modernized irrigation facilities.</span></p> <p><span style="font-size:18px">In addition to low agricultural productivity, the country was also facing a civil war which resulted in the killing and unlawful occupation of public property. The government was forced to shift its focus from development to protection of citizens, which resulted in a lack of political stability and security in various sectors, including tourism.</span></p> <p><span style="font-size:18px">As a result, production in all these sectors decreased, causing a sharp decline in GDP growth and discouraging investors from entering the stock market.</span></p> <p><span style="font-size:18px">The civil war was one of the main reasons behind the NEPSE burst in 2000, creating an unstable political and economic environment that discouraged investors from further investing in the stock market. People were more concerned about saving their wealth rather than growing it, leading to a decline in market participatio.</span></p> <p><span style="font-size:18px"><strong> Examining the reasons for the NEPSE's crash in 2008 </strong><br /> The end of Nepal's 10-year internal conflict in 2006 brought a sense of optimism among investors, especially with the introduction of a three-year budget plan focused on the country's development. </span></p> <p><span style="font-size:18px">The uptrend from 2006 continued to gain pace until the index touched the high of 1175 in August 2008, as the political situation remained relatively stable, despite the problem of changing governments and the pending introduction of a new constitution.</span></p> <p><span style="font-size:18px">During the conflict period, many people migrated to cities from rural areas and started buying properties, leading to an unexpected increase in real estate rates. Banks encouraged real estate brokers and the public to take out loans, leading to a surge in cases of loan defaults, and the banks' liquid assets were converted into non-banking physical assets.</span></p> <p><span style="font-size:18px">The demand for loans raised interest rates and reduced liquidity in banks. Interest rate and share market always have inverse relationship. When interest rates rise, sharemarket falls, and vice-versa. Investors exited from the sharemarket and parked their cash in the fixed deposits, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">As investment opportunities in Nepal are limited, the investment capital mainly revolves around three major sectors: stock market, real estate, and fixed deposit. The flow of capital was directed towards the real estate sector, leading to a decline in the charm of the stock market for both institutional and retail investors, resulting in a decline in the NEPSE index.</span></p> <p><span style="font-size:18px">In 2007, the GDP growth rate was 6.10%, followed by a decrease to 4.50% in 2008 and 4.80% in 2009. The NEPSE index burst in 2008 was mainly due to the high demand for the real estate sector and soaring interest rates, which degraded the attraction of the stock market.</span></p> <p><span style="font-size:18px">After the burst, it took four years for the NEPSE index to return to an uptrend, and six years to cross the high of 1,175.38 points. <br /> <strong>Underlying causes behind boom and burst of 2015-2016</strong><br /> In 2015-2016, Nepal faced a series of events that caused both boom and burst in the country's capital market. The earthquake of 2015 had a significant impact on the real estate sector, as people were not interested in owning luxury items and the demand for loans decreased. </span></p> <p><span style="font-size:18px">This led to lower loan rates and subsequently, lower fixed deposit rates, making both banking and real estate sectors unattractive for investors. Consequently, capital started flowing into the stock market, and NEPSE reached a high of 1,881 points in July 2016. </span></p> <p><span style="font-size:18px">During this period, the public invested in the stock market by taking loans from banks because the return on investment in the capital market was much higher than the bank's loan rates. </span></p> <p><span style="font-size:18px">However, the productivity of the country collapsed due to the border blockade, and the GDP growth was only 0.40% in 2015, despite the booming stock market. The low GDP growth indicated low demand in the country.</span></p> <p><span style="font-size:18px">In 2016, the GDP growth rebounded, recording a growth rate of 6.90%, the highest recorded growth in the last two decades. The political and economic situation in the country stabilized, and many new financial institutions were introduced, especially non-life and life insurance after the earthquake. </span></p> <p><span style="font-size:18px">This made the financial sector highly competitive, and to attract customers, the deposit rates started soaring, which raised the loan rates.</span></p> <p><span style="font-size:18px">The high loan rates discouraged investors from borrowing to invest in the stock market, and the return from the banking sector became comparable to the return from the stock market. This attracted institutional investors to invest in banks, as it provided a larger margin of safety. </span></p> <p><span style="font-size:18px">The capital was distributed among numerous small financials, such as microfinance and cooperatives, which impacted the liquidity of larger commercial banks. The government formed National Reconstruction Authority and expedited the reconstruction work using up huge budget to reconstruct infrastructures and individual houses destroyed by the earthquake. This led to the liquidity crisis in the banks and financial institutions, driving the loan rates high. </span></p> <p><span style="font-size:18px">The government also took measures to decrease the number of financial institutions in the country, which turned the market from the Bull to Bear in 2016. The soaring interest rates and liquidity crunch were the main reasons for the NEPSE burst in 2016. </span></p> <p><span style="font-size:18px"><strong>Exploring causes of bull and bear of 2021 </strong></span></p> <p><span style="font-size:18px">Capital market of Nepal started gaining momentum again in early 2020 and went on a bullish trend until it touched an all-time high of 3200 in the month of August 2021. Several factors played a role in pushing the NEPSE Index on a bullish trajectory.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic hit the world and Nepal, and the government imposed lockdowns and restricted people's movement, leading to the shutdowns of most businesses and economic activities. This made people search for alternative ways to make money, and many new investors poured their money into the stock market. </span></p> <p><span style="font-size:18px">Additionally, the lockdowns brought development works to a grinding halt, and the price of petroleum products dwindled, reducing the cost of goods and commodities. The import of goods and commodities except daily essentials was also banned. </span></p> <p><span style="font-size:18px">Banks and financial institutions witnessed excessive liquidity for lack of loan demand, and they started flowing margin loans to investors at as low as 7 percent interest.</span></p> <p><span style="font-size:18px">However, the boom in the stock market did not last long. Various factors led to the sharp fall of the stock market, driving it down to the bearish mood. </span></p> <p><span style="font-size:18px">The Nepal Rastra Bank (NRB) tightened its monetary policy, and all banks and financial institutions were also placed under strict restrictions, effectively banning them from share trading. The NRB's austere policies caused the market correction by dislodging the confidence of large and institutionalized share traders. </span></p> <p><span style="font-size:18px">In the fiscal year 2078/79, Nepal Rastra Bank (NRB) had tightened loans against shares by introducing the credit limit of NPR 40/120 million. The central bank's policy of NPR 40/120 million credit threshold against the shares had put the share market in crisis, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">Moreover, the Nepalese economy experienced a significant slowdown due to the pandemic, which affected the performance of many companies listed on the stock exchange. A liquidity crunch in the banking sector, coupled with tighter monetary policies, affected investor confidence in the market. </span></p> <p><span style="font-size:18px">Inflation in Nepal has been rising since the world removed lockdowns and opened borders for import and export, eroding the purchasing power of investors and making them less willing to invest in the stock market. The Russia’s war on Ukraine has added to the woes of the customers, driving up the prices of daily essentials and petroleum products. </span></p> <p><span style="font-size:18px">The price of petroleum products surged rapidly after the pandemic, driving prices of almost everything up, lowering the investors' capacity to invest in the stock market and other areas. </span></p> <p><span style="font-size:18px">Interest rates also surged up to 19/20percent from 7/8 percent, and stock and interest rate have a negative correlation. As interest rates rose sharply, investors and people parked their money in fixed deposits because of margin of safety.</span></p> <p><span style="font-size:18px"> The bullish trend in the Nepalese stock market in 2021 was mainly driven by the pandemic-induced market disruptions, which led to excess liquidity and low-interest rates. However, the NRB's policies, the economic slowdown, the liquidity crunch, inflation, and rising interest rates led to the bearish trend in the market, causing a significant correction in the NEPSE Index. </span></p> <p><span style="font-size:18px">In summary, the NEPSE Index has had a tumultuous history since its inception, with several downs and ups, reaching its highest points in 2000, 2008, 2016, and 2021. The NEPSE Index started at 157 points in 1998 and climbed to a high of 545 points in 2000, followed by a bearish period that lasted until 2004. </span></p> <p><span style="font-size:18px">The index then gained momentum again, reaching a high of 1175 points in 2008 before tumbling to a low of 298 points in 2012. From 2016 to 2019, the market underwent significant corrections and hit a low of 1104 points in 2019. </span></p> <p><span style="font-size:18px">However, from early 2020, the NEPSE Index entered a bullish trend and reached an all-time high of around 3200 points in August 2021, However, the market sentiment turned bearish soon after, and the index has touched lows of around 1800.</span></p> <p><span style="font-size:18px">Over the past year, the NEPSE index has been fluctuating between 1800 and 2250, with the current state of the secondary market platform hovering between 1800 and 1900. </span></p> <p><span style="font-size:18px">Unfortunately, the turnover amount on the NEPSE has significantly decreased, currently standing at below NPR 1 billion, a stark contrast from the NPR 21 billion turnover witnessed when the market hit its all-time high. </span></p> <p><span style="font-size:18px">As a result, market participation has dwindled, and investors have become more passive in light of the secondary market's bearish mood. </span></p> <p><span style="font-size:18px">The current state of the market is challenging for investors, who are feeling hopeless and psychologically down. To overcome the current bearish sentiment, several challenges and obstacles need to be addressed. </span></p> <p><span style="font-size:18px">The market-friendly monetary policy of the Nepal Rastra Bank, state of liquidity, interest rates, economic growth, and political situation all play a crucial role in determining the course of the stock market. </span></p> <p><span style="font-size:18px">The sooner the NRB comes up with market-friendly policies, the faster interest rates fall, and economic growth increases, the sooner we will see another bull market in the NEPSE.</span></p> <p><span style="font-size:18px">As they say, "there is light at the end of the tunnel," and NEPSE will surely overcome all the challenges and hindrances to break the previous all-time high and make another record. </span></p> <p><span style="font-size:18px">Till then, investors have no choice but to manage their risk and wait patiently. The stock market is unpredictable, and it is important to keep a long-term perspective while investing and not panic during short-term fluctuations.</span></p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17615', 'image' => '20230517105452_bull-market.jpg', 'article_date' => '2023-05-17 10:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17881', 'article_category_id' => '251', 'title' => 'Marijuana as a Medicine: Weighing Benefits and Harms', 'sub_title' => '', 'summary' => 'Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 17: Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. </span></p> <p><span style="font-size:18px">The World Health Organization reported in 2016 that 4% of the global population (192 million people) consumes marijuana illegally, with 40% of Americans having taken the drug at least once in their lifetime. </span></p> <p><span style="font-size:18px">Marijuana consumption is most prevalent among males and teenagers, but its use is also growing among women. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) present in Cannabis sativa, indica, and ruderalis are known to have the power to intoxicate and cause addiction.</span></p> <p><span style="font-size:18px">Marijuana is consumed in various forms and quantities, for example cannabis has about 1% and sinsemilla up to 5-6%. The plants are also used to make textiles, pickles, and drinks. </span></p> <p><span style="font-size:18px">The voices for the legalization of marijuana farming, sale, and use for entertainment and medicinal purposes are being raised worldwide, including in Nepal.</span></p> <p><span style="font-size:18px">In 2020, Nepal voted to reclassify and reconsider marijuana from Schedule IV, which includes drugs that cannot be used even for medical treatment. There has been estimation that if legalized, marijuana could generate up to NPR 146 billion by 2025, transforming the country's development. </span></p> <p><span style="font-size:18px">Apparently, there has been flood of fiery and attractive speeches, deliberations, interviews, news and articles from so-called leaders and scholars in its favor. </span></p> <p><span style="font-size:18px">However, as an expert in mental health working for over two decades, I have witnessed marijuana destroying many lives and families in all setups, including out-patient departments, wards, emergency, and other setups. </span></p> <p><span style="font-size:18px">Even today while sitting to write this article, one third of psychiatry ward patients has history of cannabis use and 23% fulfill the criteria for dependence.</span></p> <p><span style="font-size:18px"> I have seen many people losing their lives to the drug, and many families suffering for years due to the drug. But few of them including literate college students have scientific knowledge and information about it. </span></p> <p><span style="font-size:18px">They claim that marijuana is good for health and easily available. It is extremely distressing to witness the current state with the flood of ideas and arguments in its favor on one hand and my own first hand observation of devastating effects on the other. It warrants reviewing the harm and benefits of this substance as a medicine.</span></p> <p><span style="font-size:18px"> This article is an audacity based on our effort to review the benefits and harms of medicinal use of cannabis which has been published as a journal article. The author leaves the responsibility of analyzing and adopting the fact to the wise readers themselves. </span></p> <p><span style="font-size:18px">CBD present in marijuana is used as medicine to treat some health issues, including vomiting and special type of seizure. The US Food and Drug Administration has given permission to use marijuana for these two purposes. </span></p> <p><span style="font-size:18px">Claims have also been made that marijuana has a positive impact on the treatment of Parkinson's disease and multiple sclerosis, but there is no evidence to support these claims. </span></p> <p><span style="font-size:18px">While cannabis is touted to stop vomiting and treat problems in ligaments, its use is reported to have aggravated these problems to the intractable forms. </span></p> <p><span style="font-size:18px">During the COVID-19 pandemic, some chemicals in marijuana were publicized to have a positive effect on lungs, but later, they were found to have other chemicals causing serious problems in lungs, including even cancer. </span></p> <p><span style="font-size:18px">Reports have come out showing that marijuana has various types of cancer-causing chemicals more than in tobacco and cigarettes. People who take marijuana to increase their appetite for food usually have further lost their interest in food and fallen victim to malnutrition. </span></p> <p><span style="font-size:18px">Although marijuana has been mentioned in some medical literature as beneficial for the treatment of mental problems, its uses for emotional and mood disorders are not appropriate, as it may cause panic and other anxiety disorders among the users. </span></p> <p><span style="font-size:18px">Marijuana is also considered beneficial to treat mood disorders, such as depression and mania. However, those people using cannabis usually require visiting psychiatrist when they are hit severely with co-morbid depression and mania. It has also been seen in one of our recent studies. </span></p> <p><span style="font-size:18px">Using marijuana as medicine for mood disorders is, hence, not appropriate. It is common to see that people taking alcohol and other drugs often turn to marijuana and vice-versa.</span></p> <p><span style="font-size:18px">Marijuana is believed to have some benefit even in some type of psychosis. Whereas the reality is that marijuana consumption may cause the onset of serious mental problems such as psychosis, with single use of small amount, frequent or regular longstanding use.</span></p> <p><span style="font-size:18px"> For those who have genetic predisposition, it may act like a match stick. The worsening of situation and increasing prevalence of psychosis has lately increasingly been reported in countries that have legalized it and have increased marijuana consumption. </span></p> <p><span style="font-size:18px">Those who advocate for marijuana legalization argue that marijuana can be used as medicine, like opiate in the right amount. The issue of marijuana consumption is a complex one that requires a thorough analysis of its potential benefits and harms. </span></p> <p><span style="font-size:18px">Before we allow the widespread use of marijuana, it is important to carefully consider its intended purpose, the types of positive and negative effects it may have, and whether we can accurately predict its effects.</span></p> <p><span style="font-size:18px">While some argue that marijuana consumption has potential therapeutic benefits, evidence shows that it can have more harms than good sides. </span></p> <p><span style="font-size:18px">There is an established evidence to show the harms of marijuana. But, we are yet to receive the evidence to substantiate its positive side. Reports suggest that its use may cause death by obstructing the heartbeat and lead to psychosis.</span></p> <p><span style="font-size:18px"> Studies have also shown that marijuana can have serious impacts not only on frequent users but also on one-time users.Moreover, since marijuana is plant-based rather than a medicine, its quantity is extremely variable and unpredictable and it has some impurities in products in reality as well. </span></p> <p><span style="font-size:18px">Legalization may result in uncontrolled use of the drug, leading to severe outcomes, also raising false impression among common people about its benefits. Therefore, it is crucial to implement strict regulations and to educate the general public, students, teachers, and parents on the potential risks of using marijuana.</span></p> <p><span style="font-size:18px">However, a complete ban on marijuana and legal restrictions may not be the solution. Such measures may create a black market, cause the state to lose revenue, and increase criminal activity.</span></p> <p><span style="font-size:18px"> Instead, we need to promote scientific research studies, update existing laws based on scientific evidence, and aim to promote public health and awareness of policies.</span></p> <p><span style="font-size:18px">As a country with ignorance, poverty, weak governance, and a backward economy, Nepal must be vigilant when observing other countries' stance on marijuana legalization. We must not blindly follow their example but make decisions based on our specific circumstances.</span></p> <p><span style="font-size:18px">Therefore, if you hear someone say or see an advertisement claiming that "marijuana is a wonder drug," it is important to verify the facts and think twice before using it. We must analyze the available evidence thoroughly before making any decision regarding its use.</span></p> <p><span style="font-size:18px">Prof. Dr. Dhana Ratna Shakya is Head at the Department of Psychiatry <br /> in B. P. Koirala Institute of Health Sciences (BPKIHS), Dharan, Nepal. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17612', 'image' => '20230517062400_collage (1).jpg', 'article_date' => '2023-05-17 06:09:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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This ancient practice, deeply rooted in the meditative traditions of Buddhism and Hinduism, has garnered renewed interest as a powerful tool for mental health and wellness. By integrating mindfulness with traditional healing practices, modern therapeutic approaches, and innovative business models, Nepal can cultivate a holistic framework for mental well-being. Traditional healing in Nepal, woven into the cultural fabric, often incorporates mindfulness elements. Practices such as yoga, meditation, and rituals performed by shamans and Ayurvedic healers emphasize mental and spiritual balance, aligning closely with the principles of mindfulness. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Leveraging these age-old practices, mental health professionals can create culturally resonant approaches to mindfulness that respect and utilize Nepal’s rich heritage. Modern therapeutic techniques, such as cognitive-behavioral therapy (CBT) and mindfulness-based stress reduction (MBSR), can complement traditional practices. These evidence-based methods help manage stress, anxiety, and depression, promoting a comprehensive mental health strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Training local therapists in these modern techniques and integrating them with traditional practices can offer a unique and effective approach to mental wellness. Additionally, the growing wellness tourism industry in Nepal presents valuable business opportunities for promoting mindfulness. Wellness retreats and mindfulness centers can attract both locals and international visitors seeking spiritual and mental rejuvenation. These centers can serve as hubs for teaching mindfulness practices, blending traditional and modern methods, and fostering a supportive community. By integrating traditional healing practices, modern therapies, and innovative business models, Nepal can effectively nurture mindfulness. This multifaceted approach enhances mental health and wellness services while preserving and promoting the country’s rich cultural heritage, positioning Nepal as a leading destination for mindfulness and holistic well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Main Issue</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main issue lies in the slow adoption of mindfulness practices into mainstream Nepalese society despite their significant potential to enhance mental health and well-being. Mindfulness, a practice that cultivates present-moment awareness, holds the promise of reducing stress and promoting mental clarity by helping individuals anchor themselves in the present. This practice mitigates the impact of past regrets and future anxieties, fostering a state of calm and balance that is crucial in today’s fast-paced world. Mindfulness enables individuals to pause, breathe, and observe their thoughts without judgment, leading to clearer and more focused minds, improved emotional regulation, and better responses to situations with greater patience and understanding.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Moreover, mindfulness enhances empathy, a critical component for strengthening relationships. By being fully present during interactions, individuals become more attuned to the emotions and needs of others, enhancing their capacity for compassion and connection. This heightened empathy not only improves personal relationships but also fosters a more harmonious community atmosphere. Additionally, practicing mindfulness contributes to better focus and decision-making as individuals become adept at filtering out distractions and concentrating on tasks, leading to increased productivity and efficiency in both professional and personal contexts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite these myriad benefits, the integration of mindfulness into Nepalese society faces several challenges. Cultural, educational, and socio-economic factors contribute to the slow adoption of mindfulness practices. Traditional Nepalese culture, while deeply spiritual, may not yet fully embrace contemporary mindfulness practices as part of daily life. Furthermore, there might be a lack of awareness or access to structured mindfulness programs. To address this issue, concerted efforts in education, advocacy, and the creation of accessible mindfulness initiatives are required. Such efforts would bridge the gap, promoting mindfulness's benefits and enhancing the overall well-being and quality of life for all Nepalese individuals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Recommendations</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindfulness-Based Interventions (MBIs) Integration</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Establish dedicated centers that offer mindfulness training workshops, meditation sessions, and yoga classes. These centers can serve as hubs for holistic wellness.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with traditional healers and Ayurvedic practitioners to create comprehensive wellness programs. By combining ancient wisdom with modern practices, you can address physical, mental, and emotional well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Integrate mindfulness practices into existing mental health services. Emphasize present-moment awareness, non-judgment, and self-compassion. This can enhance therapeutic outcomes and promote resilience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Cafés and Restaurants</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Imagine serene dining spaces within healing centers or standalone restaurants, designed to promote mindfulness during meals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Café and Juice Bar</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Offer fresh, organic juices, smoothies, and herbal teas. Prioritize ingredients that nourish the body and mind.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Create a calming ambiance using natural materials, soothing colors, and soft music. Consider incorporating elements like indoor plants or a small water fountain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dedicate a corner for wellness resources—a mini library with books on mindfulness, nutrition, and holistic living.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Plant-Based Restaurant</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Focus on plant-based dishes that promote health and vitality. Collaborate with local farmers to source seasonal, organic produce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Craft a menu that celebrates the flavors of Nepal while aligning with mindful eating principles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Educate diners about the benefits of plant-based nutrition and its positive impact on overall well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful Movement and Activities</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Organize meditation retreats in serene locations across Nepal. Participants can immerse themselves in mindfulness practices such as guided meditations, breath awareness, and walking meditations during morning and afternoon meditation sessions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful activities:</span></strong><span style="font-size:14.0pt"> Yoga, tai chi, or qigong. Encourage participants to connect with their bodies and the present moment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Communal meals:</span></strong><span style="font-size:14.0pt"> Practice mindful eating together, savoring each bite and appreciating the nourishment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Community Engagement and Cultural Sensitivity: </span></strong><span style="font-size:14.0pt">Involve local communities in designing and implementing mindfulness programs. Seek their input and adapt practices to align with Nepalese traditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with monasteries, temples, and spiritual leaders. Their guidance can enrich mindfulness practices and foster community support.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Respect cultural norms and sensitivities. Mindfulness should be accessible and inclusive, honoring diverse backgrounds and beliefs.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Conclusion</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By highlighting the intrinsic connection between food, well-being, and mindfulness, Nepal has the potential to become a global hub for holistic wellness. This transformation necessitates collective efforts from various sectors, including government, local communities, and wellness practitioners. Collaboration among these stakeholders can foster an environment where the rich cultural heritage of Nepal is seamlessly integrated with modern wellness practices. Understanding and respecting cultural nuances are crucial, as they form the backbone of Nepalese society and influence people's daily lives and practices. As Nepal increasingly embraces mindfulness, its citizens can experience profound benefits. Mindfulness practices, deeply rooted in Nepal's spiritual traditions, can enhance resilience, helping individuals better manage stress and adversity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, these practices can promote balance in daily life, fostering a harmonious relationship between mind, body, and environment. By focusing on mindful eating and well-being, people can achieve greater fulfillment, leading to a healthier, more content society. The holistic approach to wellness in Nepal not only nurtures individual health but also contributes to a more sustainable and compassionate community. As mindfulness permeates various aspects of life, from dietary choices to interpersonal relationships, it fosters a culture of awareness and intentional living. This cultural shift can position Nepal as a beacon of holistic wellness, attracting visitors seeking authentic and transformative health experiences. Ultimately, by embracing the synergy of food, well-being, and mindfulness, Nepal can inspire a global movement towards more integrated and mindful living, benefiting not only its own people but also setting a precedent for other nations to follow.</span></span></span></p> <p><span style="font-size:18px"><em><span style="font-family:Calibri,"sans-serif"">(Sweksha Lakhe is an MBA student at South Asian Institute of Management with specialization in HR and Aasha Kiran Chapain is an MBA student at South Asian Institute of Management with specialization in Finance)</span></em></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-22', 'modified' => '2024-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '20779', 'image' => '20240522025819_consciousness-meditation-neurosicnce.jpg', 'article_date' => '2024-05-22 14:57:12', 'homepage' => true, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19004', 'article_category_id' => '251', 'title' => 'The Abraham Accords: Celebrating Three Years of Regional Cooperation', 'sub_title' => '', 'summary' => 'September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Hanan Goder</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.Three months later, in December 2020, Morocco joined the process, signing a normalization agreement with Israel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The catalyst that enabled thesehistoric accords was the conscious decision taken by the parties to promote a stable and prosperous future for the Middle East.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The agreements have ushered in a new era of normalization and peace that not only connects governments butalso bringspeople together, despite differences in language, religious beliefs, cultures and more. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, the Abraham Accords have offered a mere glimpse into the full potential of regional cooperation. Even so, the scope of trade between Israel and other Middle Eastern countries increased 74% between 2021 and 2022. Another example is tourism, mostly non-existent in the past, which has skyrocketed. In 2021, visits from Israel to the UAE increased by 172%. Meanwhile, the number of Israelis flying to Bahrain since the establishment of direct flights has increased exponentially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The accords have also had a significant influence on reinforcing Israel's relations with neighboring countries, thereby enhancing regional stability. For example, the Prosperity Green & Blue agreement between Israel, the UAE, and Jordan determined that asolar field tosupply 600 megawatts of green electricity to Israel will be established in Jordan, whilein return,a desalination plant in Israel will deliver 200 million cubic meters of water to Jordan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a region where 65% of the population is under 30, providing the younger generation with opportunities is a key factor in preventing instability. To that end, youth delegations have been initiated, encouraging bonds between tomorrow's leaders and laying thefoundation for cooperation in the decades to come.Delegationsin which young influencers experience eachother's cultures and visitimportant religious and historic sites while focusing on community building are an effective tool in strengthening ties. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Importantly, the youth of the relevant countries have subscribed wholeheartedly to the principles of acceptance, cooperation and peace highlighted in the accords, communicating to the region that these ideals are the building blocks of the future. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords encourage collaboration and education. In the summer of 2022, Ben-Gurion University welcomed students from Morocco. Additionally, a number of Emirati students have enrolled in Israeli universities. Bahrain has also embraced the prospects for shared educational activities and signed a number of agreements with Israel to advance student and professor exchanges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In anotable example of how these initiatives can foster mutual understanding, after Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited the Yad Vashem Holocaust Remembrance Center in Jerusalem, the UAE incorporated Holocaust education into its school curriculum as a mandatory subject, attestation to the ability of the Abraham Accords to fostercoexistence and religious tolerance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords have shown unity's power to inspire and provide opportunity.Theyoffer a window into a potential future of the region and demonstrate that when both leaders and ordinary citizensprioritize peace and cooperation, a far better future for the Middle East is possible.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israel hopes that many more countries will join this endeavor, creatingabrighter tomorrow for the sake of all our children.</span></span></span></p> <p><em><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">(The author is the Ambassador of Israel to Nepal)</span></span></span></em></p> <p> </p> ', 'published' => true, 'created' => '2023-09-15', 'modified' => '2023-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '18733', 'image' => '20230915081359_accord.jpg', 'article_date' => '2023-09-15 20:13:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18851', 'article_category_id' => '251', 'title' => 'Remittance: A Key Element in Nepal's Socio-Economic Landscape', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 28: In the fiscal year 2022/23, an astonishing 771,000 young individuals embarked on foreign employment from Nepal, according to the Department of Foreign Employment (DoFE). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This figure includes both new and re-permit workers who acquired work permits during the fiscal year 2022/2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparatively, during the preceding fiscal year 2021/22, a total of 637,133 workers pursued foreign employment. This reflects a substantial increase of 134,214 individuals opting for work permits abroad compared to the year before.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has about 200 years of history of its young individuals seeking employment opportunities abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, Nepali men ventured to foreign lands for various reasons, including work and participation in world wars. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many youths went to India to find employment, and some even served as soldiers in the First and Second World Wars. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite this long history, official records about the population's migration to India and other countries for jobs in the nineteenth century are lacking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2000-01, over 55,000 Nepalis went abroad due to the country's economic challenges resulting from the conflict. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the last two decades, remittance inflows have grown significantly. In 2000-01, remittances Nepal received stood at Rs 47 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, in the fiscal year 2022/2023, remittance inflow has surged to Rs 1220.56 billion, as reported by Nepal Rastra Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Popular job destinations for Nepali youths include Qatar, Malaysia, Saudi Arabia, UAE, and South Korea.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Role of Remittance in Nepal's Economy</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remittance serves as the backbone of Nepal's economy and correlates with improved health and social indicators. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a consistent inflow of remittances, Nepal has experienced transformation across various sectors, including poverty reduction, increased consumption, and bolstered foreign exchange reserves.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Contribution to GDP:</strong> Remittances play a crucial role in Nepal's economy, significantly contributing to the Gross Domestic Product (GDP). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They represent a stable and growing source of foreign exchange earnings, often constituting a substantial portion of Nepal's overall GDP. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2022/2023, remittance's contribution to Nepal's GDP was 22%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Poverty Alleviation</strong>: Remittances have been instrumental in reducing poverty and enhancing the living standards of many Nepali households. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Families receiving remittances often witness a rise in disposable income, which can be directed towards education, healthcare, housing, and other essential needs. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's poverty rate decreased from 25.2% in 2010 to 16.6% in 2019, largely attributed to increased remittance earnings, according to a study. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Household Consumption:</strong> The influx of remittances stimulates household consumption, driving demand for goods and services across various sectors. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This increased demand can fuel economic growth, generate jobs, and create business opportunities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A survey by Nepal Rastra Bank in 2014-15 revealed that 23.9% of remittance funds were spent on essentials like food and clothing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Foreign Exchange Reserves</strong>: Remittances contribute to building and maintaining Nepal's foreign exchange reserves, crucial for stabilizing the country's currency and managing its balance of payments. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adequate foreign exchange reserves ensure import stability and economic resilience. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2022/2023, remittance inflow reached Rs 1220.56 billion, bolstering Nepal's foreign exchange reserves, which stood at Rs 1539 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Investment and Savings</strong>: Remittances encourage increased savings and investment within Nepal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Some households receiving remittances allocate funds to start businesses, invest in agriculture, or make other productive ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Real Estate and Construction</strong>: A portion of remittances often flows into the real estate and construction sectors. Remittances sent by migrant workers have driven growth in Nepal's real estate sector, particularly in urban areas like Kathmandu, where property purchases and construction have surged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Education and Skill Development</strong>: Remittances enable families to invest in education and skill development. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many migrants send money back home to support their children's education, contributing to the country's human capital development. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The increase in private English-medium schools in Nepal is attributed to remittances from migrant workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many uneducated migrant workers working in the foreign lands have sent their kids to pursue higher education in the USA, Australia, Canada and the United Kingdom with remittances. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Challenges and the Path Ahead</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While remittances yield numerous benefits, they also bring challenges. Nepal's economy has grown reliant on remittance inflows, rendering it susceptible to global economic fluctuations and shifts in migration patterns.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this, policymakers and stakeholders must collaborate to diversify the economy, promote domestic industries, expand tourism, and create an environment conducive to sustainable growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, while the demand for Nepali labor abroad is increasing, challenges such as bureaucratic hurdles and political deadlocks within Nepal persist. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate these challenges, Nepal should expedite Government-to-Government (G2G) labor agreements with new destination countries, ensuring fair treatment and suitable compensation for migrant workers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> It's also essential to ensure that Nepali migrant workers are equipped with the necessary skills and knowledge before heading for foreign employment to secure higher-paying jobs that match their expertise.</span></span></p> ', 'published' => true, 'created' => '2023-08-28', 'modified' => '2023-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '18580', 'image' => '20230828055728_collage (1).jpg', 'article_date' => '2023-08-28 05:51:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18673', 'article_category_id' => '251', 'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad', 'sub_title' => '', 'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, "What motivated you to opt for A-levels?" To this, she promptly responded, "A-levels serve as a direct passport for international opportunities," highlighting their potential to facilitate for overseas education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A’s across all subjects. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a café and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master's Degree at a reputable university in either the US or Canada.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle's house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan’s proficiency in English. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade," my uncle commanded me.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don’t even recognize your efforts. They say, “he started a business because he could not go abroad”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of "prestige and status in society."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like "My son resides in the USA" or "My daughter holds permanent residency in Canada" often serve to boost parent’s egos within the community.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children's progress with those of their peers and ask questions like, "Your friend has already sent money and phones to his parents. When will you start working and earning? Why don't you apply and go abroad like them?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today's rapidly evolving world.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal's education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students' academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal's education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“There is pervasive political interference within academic institutions. Regrettably, campuses have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve as distressing indicators of the chaos and impunity that have permeated Nepal's education system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students' ability to succeed in the real world. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today's fiercely competitive job market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion: </strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-08', 'modified' => '2023-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '18402', 'image' => '20230808061226_collage (6).jpg', 'article_date' => '2023-08-08 06:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18280', 'article_category_id' => '251', 'title' => 'Arrival of Tourists up by 45 % Compared to 2022', 'sub_title' => '', 'summary' => 'June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">MK Kulung</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal. According to Nepal Tourism Board’s data, altogether 55,074 foreigners visited Nepal in January, 73,255 in February, 99,426 in March, 98,773 in April and 77,703 in May. In the six months of 2022, only 237,000 foreign tourists had visited Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data, the first five months of 2023 saw a 45 percent growth in arrival of tourists compared to the corresponding period of 2022. Therefore, if foreign tourists arrive at the same rate this year, there is a possibility that the number of tourists in Nepal will increase to the mark of 1 million. Likewise, in the six months of 2022, Nepal earned foreign currency equal to Rs 25.52 billion from tourism. However, in the year 2023, the data regarding how much money they spent in a period of five months has not come out yet.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the same period of the fiscal year 2077-078 (the year 2021), tourism contributed Rs 6.69 billion to the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At the end of December 2019, not only Nepal's tourism industry, but the world's tourism industry had to suffer an unexpected shock due to Covid-19 which spread from China’s Wuhan, the capital of the South-eastern province of Hubei, and gradually took over the global. However, now that the World Health Organization (WHO) has declared the end of Covid-19 as a global emergency and world tourism activities are gaining momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, if we look at the history of tourism in Nepal, it is only since 1963 that the government of Nepal has officially started keeping statistics of foreign tourists visiting Nepal. After almost 60 years since then, i.e. in 2023, the number of foreign tourists coming to Nepal is increasing, which is a very good sign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Looking at the encouraging number of foreign tourists who visited Nepal in recent years, the government of Nepal announced that 2018 will be celebrated as the Visit Nepal Year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">But in 2018, due to various reasons, it was not possible to celebrate the Visit Nepal Year, and preparations were made to celebrate 'Visit Nepal Year-2020' again in 2020 with an ambitious plan to attract two million foreign tourists in a year. However, due to the Covid-19 pandemic, the Government of Nepal postponed the 'Visit Nepal Year-2020'. Although all the preparations were completed and some programs were implemented, and the inauguration was done, it had to be postponed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At that time, experts in the world's tourism industry estimated that it would take at least 2024/26 for the tourism industry to return to normalcy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the future, it seems that efforts should be made to attract as many Chinese tourists as possible to Nepal. If this can be done, the Nepali tourism industry will progress quickly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data compiled by various organizations related to world tourism, including UNWTO, Chinese tourists have consistently ranked among the highest-spending tourists in the world.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Also, based on the number of Chinese tourists, they are ranked at the top among people going on the world tour. Recently, in collaboration with the Chinese people, a dragon boat competition was organized in Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Chinese tourists who took part in it chartered a plane and landed in Pokhara. This has raised the prospects of Chinese tourists coming to Pokhara in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the recent past, the second largest number of tourists visiting Nepal were Chinese after the Indians. This is not the case at present, but it can be expected that Chinese tourists will increase. For them, Pokhara is the most attractive tourist destination in Nepal. That's why they seem eager to come to Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that various tourist infrastructures built there have also attracted Chinese tourists. Nepali businessmen should take the initiative to bring Chinese tourists to Nepal through chartered flights. If this can be done, it seems that Nepal's tourism will be completely revived. However, their expenses seem to depend on the activities conducted here.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-26', 'modified' => '2023-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '18011', 'image' => '20230626010005_20230623024119_KrishnaDawadi_Kaski_RSS_08_boatracecometion.jpg', 'article_date' => '2023-06-26 12:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17981', 'article_category_id' => '251', 'title' => 'Unlocking Investment Potential in Nepal: Exploring the Stock Market as a Path to Wealth Creation', 'sub_title' => '', 'summary' => 'Of three major areas of investment, stock market offers a comprehensive and wide-ranging avenue for investment in Nepal, allowing all kinds of investors-institutional and retailers- to create capital by outpacing inflation and fixed deposit returns. ', 'content' => '<p><span style="font-size:18px">May 26: While Nepal's investment options maybe limited, it is important to recognize that investing remains the most reliable approach to outpacing inflation, creating capital, and generating substantial wealth. </span></p> <p><span style="font-size:18px">Although depositing money in bank accounts can yield modest returns, it falls short in terms of multiplying capital and enabling the creation of significant wealth.</span></p> <p><span style="font-size:18px">Nepal has primarily three areas available for investment- real estate, business and stock market. Once upon a time, investing in real estate was widely regarded as one of the most lucrative endeavors. </span></p> <p><span style="font-size:18px">If you had invested Rs 1 to 3 million in the early 2000s, the potential for exponential returns was immense, with the possibility of multiplying your capital by up to tenfold. Savvy investors who entered the real estate market in Kathmandu and other major cities during that era reaped massive wealth within a decade.</span></p> <p><span style="font-size:18px">However, the tides have turned in the realm of real estate. Land sizes have diminished, and the value of land has skyrocketed to exorbitant levels. Presently, even the farthest outskirts of the Kathmandu valley have per anna land prices ranging from 25 to 30 lakhs. </span></p> <p><span style="font-size:18px">As a result, individuals with limited capital shy away from investing in real estate due to the lack of sufficient funds. Additionally, the Nepal Rastra Bank has imposed stringent lending regulations on real estate, allowing only 30 percent loan against the total collateral valuation for homes and land. This not only makes it challenging for small-scale investors but also poses difficulties for larger investors looking to venture into the real estate market.</span></p> <p><span style="font-size:18px">Moreover, the government has introduced new legislation that classifies land into ten categories based on various features and geographic considerations. These categories include agricultural, residential, commercial, industrial, mines, forests, public use, and cultural-archeological designations, among others. </span></p> <p><span style="font-size:18px">Furthermore, land plotting has been prohibited unless the land has been appropriately classified, further complicating and diminishing the viability of real estate investments.</span></p> <p><span style="font-size:18px">Engaging in business endeavors within Nepal presents significant challenges, particularly for newcomers and those lacking experience. The country boasts several well-established business conglomerates with a global presence, including the likes of Chaudhary Group, Golchha Organization, Murarak Group, Chachan Group, Golyan Group, Kedia Organization, Khetan Group, Vishal Group, Vaidya Organization of Industries and Trading Houses (VOITH), Prabhu Group, Laxmi Group, Shanker Group, Universal Group, IME Group, and Jyoti Group. </span></p> <p><span style="font-size:18px">These influential entities exert control over a wide range of sectors encompassing manufacturing, trade, banking, insurance, healthcare, agriculture, hydropower, tourism, real estate, food and beverage, as well as vehicle import and sales.</span></p> <p><span style="font-size:18px">For individuals entering the business arena with limited capital and lacking political and bureaucratic connections, competing with these established business houses proves immensely challenging. Newcomers and aspiring entrepreneurs rarely manage to establish themselves successfully in the business world due to these barriers.</span></p> <p><span style="font-size:18px">Furthermore, the majority of people in Nepal tend to be risk-averse and lack the courage to venture into entrepreneurial pursuits. Additionally, the insufficient capital resources further hinder their ability to start their own businesses.</span></p> <p><span style="font-size:18px">Although a nascent startup culture has begun to emerge in Nepal, the government is yet to formulate comprehensive laws and regulations to promote and support such initiatives. All these factors contribute to the prevailing perception that doing business in Nepal is a daunting and arduous task.</span></p> <p><span style="font-size:18px">Investing in Nepal's stock market offers a comprehensive and wide-ranging avenue for investment. While there are stories of individuals losing their assets and even resorting to extreme measures due to stock market investments, many people remain hesitant to participate in the secondary market due to perceived risks. These cautionary tales serve as warnings, deterring others from venturing into the stock market.</span></p> <p><span style="font-size:18px">Undoubtedly, investing entails risks, and the stock market is no exception. However, a careful study and analysis of the stock market reveal that it is not as perilous as commonly portrayed. </span></p> <p><span style="font-size:18px">Despite inherent risks, stock market presents ample benefits. One of the advantages is the ability to start investing with any amount of surplus funds, whether it's Rs 50,000, Rs 5,000,000, or even higher. Unlike other ventures like businesses or real estate, which often require substantial capital, the stock market allows individuals to embark on their investment journey with any available surplus fund. </span></p> <p><span style="font-size:18px">Unlike real estate, which typically maintains its value even during bearish periods, the secondary market, NEPSE, moves in cycles of bullish and bearish trends. This presents an opportunity to purchase shares of favored companies at low prices during downward trends. </span></p> <p><span style="font-size:18px">In contrast, it is rare to find heavily discounted land or properties in the real estate market during downturns. In the stock market, one is never left behind, always having the chance to acquire shares of top-performing companies at unimaginably low prices.</span></p> <p><span style="font-size:18px">Another advantage of the stock market is its liquidity. Life's uncertainties may require immediate financial solutions, such as medical emergencies, funding for education, or urgent travel expenses. </span></p> <p><span style="font-size:18px">In such cases, selling shares can provide the necessary cash. Real estate investments may not provide the same level of flexibility in addressing immediate and urgent financial needs, especially during downturns when selling property becomes challenging.</span></p> <p><span style="font-size:18px">The stock market offers a wide range of options to choose from, with numerous real and manufacturing sectors, banks, and insurance companies listed on NEPSE. These listed companies operate real businesses in the tangible world. </span></p> <p><span style="font-size:18px">By conducting thorough analyses and investing in companies with growth and expansion potential, there is a significant opportunity to multiply investments. A company valued at Rs 10 million can grow into a billion-dollar enterprise, resulting in an unimaginable expansion of one's portfolio. In contrast, the size of land remains fixed, limiting its growth potential.</span></p> <p><span style="font-size:18px">The stock market experiences cycles of bears and bulls. By studying technical charts, indicators, and keeping an eye on fundamental factors such as the country's economy, interest rates, liquidity in the banking system, and political conditions, investors have a chance to multiply their capital within a short period. Such rapid growth opportunities are not as readily available in real estate or start-up businesses.</span></p> <p><span style="font-size:18px">Investing in the stock market offers transparency and convenience. While buying real estate often involves inspecting numerous plots before making a decision, studying and researching companies listed on NEPSE can be done from the comfort of one's home. </span></p> <p><span style="font-size:18px">Transaction costs, including broker commissions, taxes, and regulatory fees, are fixed and transparent, ensuring fair dealings without any hidden agendas. Stock markets are regulated and operate under strict rules, providing transparency and investor protection. Access to company information, financial reports, and market trends empowers investors to make informed decisions.</span></p> <p><span style="font-size:18px">Diversification is another bright side of investing in NEPSE. It allows investors to spread their investment across different sectors, such as banking, insurance, manufacturing, hotels and tourism, and investments, among others. </span></p> <p><span style="font-size:18px">This diversification helps to reduce overall risk and potentially increase overall portfolio returns. Even if losses occur in one company, they can be offset by profits from another, minimizing the impact of individual setbacks.</span></p> <p><span style="font-size:18px">Nepal's stock market holds significant promise as an emerging market, indicating considerable potential for growth. Emerging markets, being in the early stages of economic development, often offer higher returns compared to established markets.</span></p> <p><span style="font-size:18px">Investing in NEPSE can be particularly advantageous for long-term investors who are willing to hold their investments over an extended period. As Nepal's economy continues to progress and mature, the stock market has the potential to deliver substantial returns for patient investors.</span></p> <p><span style="font-size:18px">Another benefit of investing in NEPSE is the opportunity to earn dividend income. Many companies distribute a portion of their profits to shareholders in the form of dividends. This practice provides a reliable and steady stream of income, making dividend-paying stocks attractive for income-oriented investors seeking regular cash flow. </span></p> <p><span style="font-size:18px">By investing in such stocks, investors can benefit from both potential capital appreciation and recurring dividend payments, enhancing their overall investment returns.</span></p> <p><span style="font-size:18px">After analyzing the four bullish and bearish trends in the NEPSE, it becomes evident that newcomers tend to enter the stock market when the bull run is at its peak. Their decision is often influenced by hearing about their friends and neighbors making substantial profits.</span></p> <p><span style="font-size:18px">Conversely, experienced and savvy investors choose to exit their positions during the mid to peak points of a bullish trend. Unfortunately, newbies enter the market at this juncture, experiencing initial gains and a sense of elation. </span></p> <p><span style="font-size:18px">However, as the market eventually shifts into a bearish mode, their hopes of quick and easy profits are shattered. This unfavorable turn of events often leads to significant financial losses, feelings of despair, and even cases of suicide, thereby spreading negative sentiments about the stock market.</span></p> <p><span style="font-size:18px">Ultimately, the success of investing in the NEPSE stock market relies on taking certain precautions and adopting a strategic approach. By considering the following guidelines, individuals can enhance their chances of making informed investment decisions and creating wealth:</span></p> <p><span style="font-size:18px">1. Study the bullish and bearish trends in the stock market to understand the market dynamics and identify favorable entry and exit points.<br /> 2. Develop a basic understanding of technical charts, which can provide insights into price patterns and trends.<br /> 3. Conduct thorough research on companies, analyzing their past performance, current situation, and potential for future growth.<br /> 4. Capitalize on opportunities when the market is in a bearish trend, as this may present favorable prices for acquiring stocks.<br /> 5. Take advantage of bullish trends by selling stocks and patiently waiting for opportune moments to reinvest your money.<br /> 6. Avoid being swayed by rumors and hearsay, as they can often mislead investors.<br /> 7. Stay informed about the state of liquidity in banks, interest rates, and the overall financial condition of the country, as these factors can impact stock market performance.<br /> 8. Consider the effects of major calamities, pandemics, and unforeseen disasters, as the NEPSE has historically experienced growth following such events.<br /> 9. Select a few top-performing companies with growth prospects from various sectors and focus your investments on them.</span></p> <p><span style="font-size:18px">By following these precautions and guidelines, investors can approach the stock market with a more informed and calculated approach, increasing their chances of success and wealth creation.</span><br /> </p> ', 'published' => true, 'created' => '2023-05-26', 'modified' => '2023-05-26', 'keywords' => '', 'description' => '', 'sortorder' => '17712', 'image' => '20230526060045_collage (12).jpg', 'article_date' => '2023-05-26 05:40:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17884', 'article_category_id' => '251', 'title' => 'The History and Causes of Bullish and Bearish Trends in the Nepal Stock Exchange (NEPSE)', 'sub_title' => '', 'summary' => 'Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. ', 'content' => '<p><span style="font-size:18px"> </span></p> <p><span style="font-size:18px">May 17: The history of the share market in Nepal is relatively short compared to other countries. The Nepal Stock Exchange (NEPSE) was established in 1993 as the country's only stock exchange. As the only stock exchange company, the Nepal Stock Exchange (NEPSE), formally opened its trading floor on13th January 1994. </span></p> <p><span style="font-size:18px"> Initially, NEPSE had only 37 listed companies, and trading was conducted manually using an open outcry system. However, in recent years, NEPSE has modernized its trading platform, and as of 2023, there are around 269 listed companies. </span></p> <p><span style="font-size:18px"> Recent data at the Central Depository Services and Clearing Limited (CDSC) show that the number of Demat account holders in Nepal has surpassed 5 million. </span></p> <p><span style="font-size:18px">Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. </span></p> <p><span style="font-size:18px">This article will explore the timeline of bullish and bearish trends in the NEPSE Index, analyzing the underlying economic and political causes that drove these fluctuations.</span></p> <p><span style="font-size:18px"><strong>Reasons behind the 2000 NEPSE Index crash </strong><br /> The Nepal Stock Exchange (NEPSE) index gained bull run pace from 1999 which tripled in around two and half years, and reached a high of 545.82 on November 23, 2000. </span></p> <p><span style="font-size:18px">However, within a short period of one and a half years, the NEPSE index crashed to a low of 186.22 points, and it took another five years for the index to surpass its previous high of 545.82 points.</span></p> <p><span style="font-size:18px">One of the main reasons behind the 2000 NEPSE index burst was the declining GDP growth rate. From 1994 to 1999, the GDP growth rate was impressive, averaging at 6%. However, in 2000, the GDP growth rate dropped to 4.80% followed by a further decline to 0.10% in 2001. </span></p> <p><span style="font-size:18px">The agricultural sector, which is a significant contributor to Nepal's GDP, suffered from low productivity due to drought and unfavorable weather conditions, as the country lacked modernized irrigation facilities.</span></p> <p><span style="font-size:18px">In addition to low agricultural productivity, the country was also facing a civil war which resulted in the killing and unlawful occupation of public property. The government was forced to shift its focus from development to protection of citizens, which resulted in a lack of political stability and security in various sectors, including tourism.</span></p> <p><span style="font-size:18px">As a result, production in all these sectors decreased, causing a sharp decline in GDP growth and discouraging investors from entering the stock market.</span></p> <p><span style="font-size:18px">The civil war was one of the main reasons behind the NEPSE burst in 2000, creating an unstable political and economic environment that discouraged investors from further investing in the stock market. People were more concerned about saving their wealth rather than growing it, leading to a decline in market participatio.</span></p> <p><span style="font-size:18px"><strong> Examining the reasons for the NEPSE's crash in 2008 </strong><br /> The end of Nepal's 10-year internal conflict in 2006 brought a sense of optimism among investors, especially with the introduction of a three-year budget plan focused on the country's development. </span></p> <p><span style="font-size:18px">The uptrend from 2006 continued to gain pace until the index touched the high of 1175 in August 2008, as the political situation remained relatively stable, despite the problem of changing governments and the pending introduction of a new constitution.</span></p> <p><span style="font-size:18px">During the conflict period, many people migrated to cities from rural areas and started buying properties, leading to an unexpected increase in real estate rates. Banks encouraged real estate brokers and the public to take out loans, leading to a surge in cases of loan defaults, and the banks' liquid assets were converted into non-banking physical assets.</span></p> <p><span style="font-size:18px">The demand for loans raised interest rates and reduced liquidity in banks. Interest rate and share market always have inverse relationship. When interest rates rise, sharemarket falls, and vice-versa. Investors exited from the sharemarket and parked their cash in the fixed deposits, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">As investment opportunities in Nepal are limited, the investment capital mainly revolves around three major sectors: stock market, real estate, and fixed deposit. The flow of capital was directed towards the real estate sector, leading to a decline in the charm of the stock market for both institutional and retail investors, resulting in a decline in the NEPSE index.</span></p> <p><span style="font-size:18px">In 2007, the GDP growth rate was 6.10%, followed by a decrease to 4.50% in 2008 and 4.80% in 2009. The NEPSE index burst in 2008 was mainly due to the high demand for the real estate sector and soaring interest rates, which degraded the attraction of the stock market.</span></p> <p><span style="font-size:18px">After the burst, it took four years for the NEPSE index to return to an uptrend, and six years to cross the high of 1,175.38 points. <br /> <strong>Underlying causes behind boom and burst of 2015-2016</strong><br /> In 2015-2016, Nepal faced a series of events that caused both boom and burst in the country's capital market. The earthquake of 2015 had a significant impact on the real estate sector, as people were not interested in owning luxury items and the demand for loans decreased. </span></p> <p><span style="font-size:18px">This led to lower loan rates and subsequently, lower fixed deposit rates, making both banking and real estate sectors unattractive for investors. Consequently, capital started flowing into the stock market, and NEPSE reached a high of 1,881 points in July 2016. </span></p> <p><span style="font-size:18px">During this period, the public invested in the stock market by taking loans from banks because the return on investment in the capital market was much higher than the bank's loan rates. </span></p> <p><span style="font-size:18px">However, the productivity of the country collapsed due to the border blockade, and the GDP growth was only 0.40% in 2015, despite the booming stock market. The low GDP growth indicated low demand in the country.</span></p> <p><span style="font-size:18px">In 2016, the GDP growth rebounded, recording a growth rate of 6.90%, the highest recorded growth in the last two decades. The political and economic situation in the country stabilized, and many new financial institutions were introduced, especially non-life and life insurance after the earthquake. </span></p> <p><span style="font-size:18px">This made the financial sector highly competitive, and to attract customers, the deposit rates started soaring, which raised the loan rates.</span></p> <p><span style="font-size:18px">The high loan rates discouraged investors from borrowing to invest in the stock market, and the return from the banking sector became comparable to the return from the stock market. This attracted institutional investors to invest in banks, as it provided a larger margin of safety. </span></p> <p><span style="font-size:18px">The capital was distributed among numerous small financials, such as microfinance and cooperatives, which impacted the liquidity of larger commercial banks. The government formed National Reconstruction Authority and expedited the reconstruction work using up huge budget to reconstruct infrastructures and individual houses destroyed by the earthquake. This led to the liquidity crisis in the banks and financial institutions, driving the loan rates high. </span></p> <p><span style="font-size:18px">The government also took measures to decrease the number of financial institutions in the country, which turned the market from the Bull to Bear in 2016. The soaring interest rates and liquidity crunch were the main reasons for the NEPSE burst in 2016. </span></p> <p><span style="font-size:18px"><strong>Exploring causes of bull and bear of 2021 </strong></span></p> <p><span style="font-size:18px">Capital market of Nepal started gaining momentum again in early 2020 and went on a bullish trend until it touched an all-time high of 3200 in the month of August 2021. Several factors played a role in pushing the NEPSE Index on a bullish trajectory.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic hit the world and Nepal, and the government imposed lockdowns and restricted people's movement, leading to the shutdowns of most businesses and economic activities. This made people search for alternative ways to make money, and many new investors poured their money into the stock market. </span></p> <p><span style="font-size:18px">Additionally, the lockdowns brought development works to a grinding halt, and the price of petroleum products dwindled, reducing the cost of goods and commodities. The import of goods and commodities except daily essentials was also banned. </span></p> <p><span style="font-size:18px">Banks and financial institutions witnessed excessive liquidity for lack of loan demand, and they started flowing margin loans to investors at as low as 7 percent interest.</span></p> <p><span style="font-size:18px">However, the boom in the stock market did not last long. Various factors led to the sharp fall of the stock market, driving it down to the bearish mood. </span></p> <p><span style="font-size:18px">The Nepal Rastra Bank (NRB) tightened its monetary policy, and all banks and financial institutions were also placed under strict restrictions, effectively banning them from share trading. The NRB's austere policies caused the market correction by dislodging the confidence of large and institutionalized share traders. </span></p> <p><span style="font-size:18px">In the fiscal year 2078/79, Nepal Rastra Bank (NRB) had tightened loans against shares by introducing the credit limit of NPR 40/120 million. The central bank's policy of NPR 40/120 million credit threshold against the shares had put the share market in crisis, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">Moreover, the Nepalese economy experienced a significant slowdown due to the pandemic, which affected the performance of many companies listed on the stock exchange. A liquidity crunch in the banking sector, coupled with tighter monetary policies, affected investor confidence in the market. </span></p> <p><span style="font-size:18px">Inflation in Nepal has been rising since the world removed lockdowns and opened borders for import and export, eroding the purchasing power of investors and making them less willing to invest in the stock market. The Russia’s war on Ukraine has added to the woes of the customers, driving up the prices of daily essentials and petroleum products. </span></p> <p><span style="font-size:18px">The price of petroleum products surged rapidly after the pandemic, driving prices of almost everything up, lowering the investors' capacity to invest in the stock market and other areas. </span></p> <p><span style="font-size:18px">Interest rates also surged up to 19/20percent from 7/8 percent, and stock and interest rate have a negative correlation. As interest rates rose sharply, investors and people parked their money in fixed deposits because of margin of safety.</span></p> <p><span style="font-size:18px"> The bullish trend in the Nepalese stock market in 2021 was mainly driven by the pandemic-induced market disruptions, which led to excess liquidity and low-interest rates. However, the NRB's policies, the economic slowdown, the liquidity crunch, inflation, and rising interest rates led to the bearish trend in the market, causing a significant correction in the NEPSE Index. </span></p> <p><span style="font-size:18px">In summary, the NEPSE Index has had a tumultuous history since its inception, with several downs and ups, reaching its highest points in 2000, 2008, 2016, and 2021. The NEPSE Index started at 157 points in 1998 and climbed to a high of 545 points in 2000, followed by a bearish period that lasted until 2004. </span></p> <p><span style="font-size:18px">The index then gained momentum again, reaching a high of 1175 points in 2008 before tumbling to a low of 298 points in 2012. From 2016 to 2019, the market underwent significant corrections and hit a low of 1104 points in 2019. </span></p> <p><span style="font-size:18px">However, from early 2020, the NEPSE Index entered a bullish trend and reached an all-time high of around 3200 points in August 2021, However, the market sentiment turned bearish soon after, and the index has touched lows of around 1800.</span></p> <p><span style="font-size:18px">Over the past year, the NEPSE index has been fluctuating between 1800 and 2250, with the current state of the secondary market platform hovering between 1800 and 1900. </span></p> <p><span style="font-size:18px">Unfortunately, the turnover amount on the NEPSE has significantly decreased, currently standing at below NPR 1 billion, a stark contrast from the NPR 21 billion turnover witnessed when the market hit its all-time high. </span></p> <p><span style="font-size:18px">As a result, market participation has dwindled, and investors have become more passive in light of the secondary market's bearish mood. </span></p> <p><span style="font-size:18px">The current state of the market is challenging for investors, who are feeling hopeless and psychologically down. To overcome the current bearish sentiment, several challenges and obstacles need to be addressed. </span></p> <p><span style="font-size:18px">The market-friendly monetary policy of the Nepal Rastra Bank, state of liquidity, interest rates, economic growth, and political situation all play a crucial role in determining the course of the stock market. </span></p> <p><span style="font-size:18px">The sooner the NRB comes up with market-friendly policies, the faster interest rates fall, and economic growth increases, the sooner we will see another bull market in the NEPSE.</span></p> <p><span style="font-size:18px">As they say, "there is light at the end of the tunnel," and NEPSE will surely overcome all the challenges and hindrances to break the previous all-time high and make another record. </span></p> <p><span style="font-size:18px">Till then, investors have no choice but to manage their risk and wait patiently. The stock market is unpredictable, and it is important to keep a long-term perspective while investing and not panic during short-term fluctuations.</span></p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17615', 'image' => '20230517105452_bull-market.jpg', 'article_date' => '2023-05-17 10:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17881', 'article_category_id' => '251', 'title' => 'Marijuana as a Medicine: Weighing Benefits and Harms', 'sub_title' => '', 'summary' => 'Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 17: Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. </span></p> <p><span style="font-size:18px">The World Health Organization reported in 2016 that 4% of the global population (192 million people) consumes marijuana illegally, with 40% of Americans having taken the drug at least once in their lifetime. </span></p> <p><span style="font-size:18px">Marijuana consumption is most prevalent among males and teenagers, but its use is also growing among women. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) present in Cannabis sativa, indica, and ruderalis are known to have the power to intoxicate and cause addiction.</span></p> <p><span style="font-size:18px">Marijuana is consumed in various forms and quantities, for example cannabis has about 1% and sinsemilla up to 5-6%. The plants are also used to make textiles, pickles, and drinks. </span></p> <p><span style="font-size:18px">The voices for the legalization of marijuana farming, sale, and use for entertainment and medicinal purposes are being raised worldwide, including in Nepal.</span></p> <p><span style="font-size:18px">In 2020, Nepal voted to reclassify and reconsider marijuana from Schedule IV, which includes drugs that cannot be used even for medical treatment. There has been estimation that if legalized, marijuana could generate up to NPR 146 billion by 2025, transforming the country's development. </span></p> <p><span style="font-size:18px">Apparently, there has been flood of fiery and attractive speeches, deliberations, interviews, news and articles from so-called leaders and scholars in its favor. </span></p> <p><span style="font-size:18px">However, as an expert in mental health working for over two decades, I have witnessed marijuana destroying many lives and families in all setups, including out-patient departments, wards, emergency, and other setups. </span></p> <p><span style="font-size:18px">Even today while sitting to write this article, one third of psychiatry ward patients has history of cannabis use and 23% fulfill the criteria for dependence.</span></p> <p><span style="font-size:18px"> I have seen many people losing their lives to the drug, and many families suffering for years due to the drug. But few of them including literate college students have scientific knowledge and information about it. </span></p> <p><span style="font-size:18px">They claim that marijuana is good for health and easily available. It is extremely distressing to witness the current state with the flood of ideas and arguments in its favor on one hand and my own first hand observation of devastating effects on the other. It warrants reviewing the harm and benefits of this substance as a medicine.</span></p> <p><span style="font-size:18px"> This article is an audacity based on our effort to review the benefits and harms of medicinal use of cannabis which has been published as a journal article. The author leaves the responsibility of analyzing and adopting the fact to the wise readers themselves. </span></p> <p><span style="font-size:18px">CBD present in marijuana is used as medicine to treat some health issues, including vomiting and special type of seizure. The US Food and Drug Administration has given permission to use marijuana for these two purposes. </span></p> <p><span style="font-size:18px">Claims have also been made that marijuana has a positive impact on the treatment of Parkinson's disease and multiple sclerosis, but there is no evidence to support these claims. </span></p> <p><span style="font-size:18px">While cannabis is touted to stop vomiting and treat problems in ligaments, its use is reported to have aggravated these problems to the intractable forms. </span></p> <p><span style="font-size:18px">During the COVID-19 pandemic, some chemicals in marijuana were publicized to have a positive effect on lungs, but later, they were found to have other chemicals causing serious problems in lungs, including even cancer. </span></p> <p><span style="font-size:18px">Reports have come out showing that marijuana has various types of cancer-causing chemicals more than in tobacco and cigarettes. People who take marijuana to increase their appetite for food usually have further lost their interest in food and fallen victim to malnutrition. </span></p> <p><span style="font-size:18px">Although marijuana has been mentioned in some medical literature as beneficial for the treatment of mental problems, its uses for emotional and mood disorders are not appropriate, as it may cause panic and other anxiety disorders among the users. </span></p> <p><span style="font-size:18px">Marijuana is also considered beneficial to treat mood disorders, such as depression and mania. However, those people using cannabis usually require visiting psychiatrist when they are hit severely with co-morbid depression and mania. It has also been seen in one of our recent studies. </span></p> <p><span style="font-size:18px">Using marijuana as medicine for mood disorders is, hence, not appropriate. It is common to see that people taking alcohol and other drugs often turn to marijuana and vice-versa.</span></p> <p><span style="font-size:18px">Marijuana is believed to have some benefit even in some type of psychosis. Whereas the reality is that marijuana consumption may cause the onset of serious mental problems such as psychosis, with single use of small amount, frequent or regular longstanding use.</span></p> <p><span style="font-size:18px"> For those who have genetic predisposition, it may act like a match stick. The worsening of situation and increasing prevalence of psychosis has lately increasingly been reported in countries that have legalized it and have increased marijuana consumption. </span></p> <p><span style="font-size:18px">Those who advocate for marijuana legalization argue that marijuana can be used as medicine, like opiate in the right amount. The issue of marijuana consumption is a complex one that requires a thorough analysis of its potential benefits and harms. </span></p> <p><span style="font-size:18px">Before we allow the widespread use of marijuana, it is important to carefully consider its intended purpose, the types of positive and negative effects it may have, and whether we can accurately predict its effects.</span></p> <p><span style="font-size:18px">While some argue that marijuana consumption has potential therapeutic benefits, evidence shows that it can have more harms than good sides. </span></p> <p><span style="font-size:18px">There is an established evidence to show the harms of marijuana. But, we are yet to receive the evidence to substantiate its positive side. Reports suggest that its use may cause death by obstructing the heartbeat and lead to psychosis.</span></p> <p><span style="font-size:18px"> Studies have also shown that marijuana can have serious impacts not only on frequent users but also on one-time users.Moreover, since marijuana is plant-based rather than a medicine, its quantity is extremely variable and unpredictable and it has some impurities in products in reality as well. </span></p> <p><span style="font-size:18px">Legalization may result in uncontrolled use of the drug, leading to severe outcomes, also raising false impression among common people about its benefits. Therefore, it is crucial to implement strict regulations and to educate the general public, students, teachers, and parents on the potential risks of using marijuana.</span></p> <p><span style="font-size:18px">However, a complete ban on marijuana and legal restrictions may not be the solution. Such measures may create a black market, cause the state to lose revenue, and increase criminal activity.</span></p> <p><span style="font-size:18px"> Instead, we need to promote scientific research studies, update existing laws based on scientific evidence, and aim to promote public health and awareness of policies.</span></p> <p><span style="font-size:18px">As a country with ignorance, poverty, weak governance, and a backward economy, Nepal must be vigilant when observing other countries' stance on marijuana legalization. We must not blindly follow their example but make decisions based on our specific circumstances.</span></p> <p><span style="font-size:18px">Therefore, if you hear someone say or see an advertisement claiming that "marijuana is a wonder drug," it is important to verify the facts and think twice before using it. We must analyze the available evidence thoroughly before making any decision regarding its use.</span></p> <p><span style="font-size:18px">Prof. Dr. Dhana Ratna Shakya is Head at the Department of Psychiatry <br /> in B. P. Koirala Institute of Health Sciences (BPKIHS), Dharan, Nepal. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17612', 'image' => '20230517062400_collage (1).jpg', 'article_date' => '2023-05-17 06:09:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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This ancient practice, deeply rooted in the meditative traditions of Buddhism and Hinduism, has garnered renewed interest as a powerful tool for mental health and wellness. By integrating mindfulness with traditional healing practices, modern therapeutic approaches, and innovative business models, Nepal can cultivate a holistic framework for mental well-being. Traditional healing in Nepal, woven into the cultural fabric, often incorporates mindfulness elements. Practices such as yoga, meditation, and rituals performed by shamans and Ayurvedic healers emphasize mental and spiritual balance, aligning closely with the principles of mindfulness. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Leveraging these age-old practices, mental health professionals can create culturally resonant approaches to mindfulness that respect and utilize Nepal’s rich heritage. Modern therapeutic techniques, such as cognitive-behavioral therapy (CBT) and mindfulness-based stress reduction (MBSR), can complement traditional practices. These evidence-based methods help manage stress, anxiety, and depression, promoting a comprehensive mental health strategy. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Training local therapists in these modern techniques and integrating them with traditional practices can offer a unique and effective approach to mental wellness. Additionally, the growing wellness tourism industry in Nepal presents valuable business opportunities for promoting mindfulness. Wellness retreats and mindfulness centers can attract both locals and international visitors seeking spiritual and mental rejuvenation. These centers can serve as hubs for teaching mindfulness practices, blending traditional and modern methods, and fostering a supportive community. By integrating traditional healing practices, modern therapies, and innovative business models, Nepal can effectively nurture mindfulness. This multifaceted approach enhances mental health and wellness services while preserving and promoting the country’s rich cultural heritage, positioning Nepal as a leading destination for mindfulness and holistic well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Main Issue</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The main issue lies in the slow adoption of mindfulness practices into mainstream Nepalese society despite their significant potential to enhance mental health and well-being. Mindfulness, a practice that cultivates present-moment awareness, holds the promise of reducing stress and promoting mental clarity by helping individuals anchor themselves in the present. This practice mitigates the impact of past regrets and future anxieties, fostering a state of calm and balance that is crucial in today’s fast-paced world. Mindfulness enables individuals to pause, breathe, and observe their thoughts without judgment, leading to clearer and more focused minds, improved emotional regulation, and better responses to situations with greater patience and understanding.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Moreover, mindfulness enhances empathy, a critical component for strengthening relationships. By being fully present during interactions, individuals become more attuned to the emotions and needs of others, enhancing their capacity for compassion and connection. This heightened empathy not only improves personal relationships but also fosters a more harmonious community atmosphere. Additionally, practicing mindfulness contributes to better focus and decision-making as individuals become adept at filtering out distractions and concentrating on tasks, leading to increased productivity and efficiency in both professional and personal contexts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Despite these myriad benefits, the integration of mindfulness into Nepalese society faces several challenges. Cultural, educational, and socio-economic factors contribute to the slow adoption of mindfulness practices. Traditional Nepalese culture, while deeply spiritual, may not yet fully embrace contemporary mindfulness practices as part of daily life. Furthermore, there might be a lack of awareness or access to structured mindfulness programs. To address this issue, concerted efforts in education, advocacy, and the creation of accessible mindfulness initiatives are required. Such efforts would bridge the gap, promoting mindfulness's benefits and enhancing the overall well-being and quality of life for all Nepalese individuals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Recommendations</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindfulness-Based Interventions (MBIs) Integration</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Establish dedicated centers that offer mindfulness training workshops, meditation sessions, and yoga classes. These centers can serve as hubs for holistic wellness.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with traditional healers and Ayurvedic practitioners to create comprehensive wellness programs. By combining ancient wisdom with modern practices, you can address physical, mental, and emotional well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Integrate mindfulness practices into existing mental health services. Emphasize present-moment awareness, non-judgment, and self-compassion. This can enhance therapeutic outcomes and promote resilience.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Cafés and Restaurants</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Imagine serene dining spaces within healing centers or standalone restaurants, designed to promote mindfulness during meals.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Holistic Café and Juice Bar</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Offer fresh, organic juices, smoothies, and herbal teas. Prioritize ingredients that nourish the body and mind.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Create a calming ambiance using natural materials, soothing colors, and soft music. Consider incorporating elements like indoor plants or a small water fountain.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Dedicate a corner for wellness resources—a mini library with books on mindfulness, nutrition, and holistic living.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Plant-Based Restaurant</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Focus on plant-based dishes that promote health and vitality. Collaborate with local farmers to source seasonal, organic produce.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Craft a menu that celebrates the flavors of Nepal while aligning with mindful eating principles.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Educate diners about the benefits of plant-based nutrition and its positive impact on overall well-being.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful Movement and Activities</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Organize meditation retreats in serene locations across Nepal. Participants can immerse themselves in mindfulness practices such as guided meditations, breath awareness, and walking meditations during morning and afternoon meditation sessions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Mindful activities:</span></strong><span style="font-size:14.0pt"> Yoga, tai chi, or qigong. Encourage participants to connect with their bodies and the present moment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Communal meals:</span></strong><span style="font-size:14.0pt"> Practice mindful eating together, savoring each bite and appreciating the nourishment.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Community Engagement and Cultural Sensitivity: </span></strong><span style="font-size:14.0pt">Involve local communities in designing and implementing mindfulness programs. Seek their input and adapt practices to align with Nepalese traditions.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Collaborate with monasteries, temples, and spiritual leaders. Their guidance can enrich mindfulness practices and foster community support.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Respect cultural norms and sensitivities. Mindfulness should be accessible and inclusive, honoring diverse backgrounds and beliefs.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt">Conclusion</span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">By highlighting the intrinsic connection between food, well-being, and mindfulness, Nepal has the potential to become a global hub for holistic wellness. This transformation necessitates collective efforts from various sectors, including government, local communities, and wellness practitioners. Collaboration among these stakeholders can foster an environment where the rich cultural heritage of Nepal is seamlessly integrated with modern wellness practices. Understanding and respecting cultural nuances are crucial, as they form the backbone of Nepalese society and influence people's daily lives and practices. As Nepal increasingly embraces mindfulness, its citizens can experience profound benefits. Mindfulness practices, deeply rooted in Nepal's spiritual traditions, can enhance resilience, helping individuals better manage stress and adversity. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Furthermore, these practices can promote balance in daily life, fostering a harmonious relationship between mind, body, and environment. By focusing on mindful eating and well-being, people can achieve greater fulfillment, leading to a healthier, more content society. The holistic approach to wellness in Nepal not only nurtures individual health but also contributes to a more sustainable and compassionate community. As mindfulness permeates various aspects of life, from dietary choices to interpersonal relationships, it fosters a culture of awareness and intentional living. This cultural shift can position Nepal as a beacon of holistic wellness, attracting visitors seeking authentic and transformative health experiences. Ultimately, by embracing the synergy of food, well-being, and mindfulness, Nepal can inspire a global movement towards more integrated and mindful living, benefiting not only its own people but also setting a precedent for other nations to follow.</span></span></span></p> <p><span style="font-size:18px"><em><span style="font-family:Calibri,"sans-serif"">(Sweksha Lakhe is an MBA student at South Asian Institute of Management with specialization in HR and Aasha Kiran Chapain is an MBA student at South Asian Institute of Management with specialization in Finance)</span></em></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-22', 'modified' => '2024-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '20779', 'image' => '20240522025819_consciousness-meditation-neurosicnce.jpg', 'article_date' => '2024-05-22 14:57:12', 'homepage' => true, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19004', 'article_category_id' => '251', 'title' => 'The Abraham Accords: Celebrating Three Years of Regional Cooperation', 'sub_title' => '', 'summary' => 'September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Hanan Goder</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">September 15: This week marks a very important milestone for the Middle East and North Africa: three years since the signing of the Abraham Accordsbetween Israel and the United Arab Emirates (UAE) and Bahrain, under the auspices of the US government.Three months later, in December 2020, Morocco joined the process, signing a normalization agreement with Israel.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The catalyst that enabled thesehistoric accords was the conscious decision taken by the parties to promote a stable and prosperous future for the Middle East.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The agreements have ushered in a new era of normalization and peace that not only connects governments butalso bringspeople together, despite differences in language, religious beliefs, cultures and more. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">So far, the Abraham Accords have offered a mere glimpse into the full potential of regional cooperation. Even so, the scope of trade between Israel and other Middle Eastern countries increased 74% between 2021 and 2022. Another example is tourism, mostly non-existent in the past, which has skyrocketed. In 2021, visits from Israel to the UAE increased by 172%. Meanwhile, the number of Israelis flying to Bahrain since the establishment of direct flights has increased exponentially. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The accords have also had a significant influence on reinforcing Israel's relations with neighboring countries, thereby enhancing regional stability. For example, the Prosperity Green & Blue agreement between Israel, the UAE, and Jordan determined that asolar field tosupply 600 megawatts of green electricity to Israel will be established in Jordan, whilein return,a desalination plant in Israel will deliver 200 million cubic meters of water to Jordan.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In a region where 65% of the population is under 30, providing the younger generation with opportunities is a key factor in preventing instability. To that end, youth delegations have been initiated, encouraging bonds between tomorrow's leaders and laying thefoundation for cooperation in the decades to come.Delegationsin which young influencers experience eachother's cultures and visitimportant religious and historic sites while focusing on community building are an effective tool in strengthening ties. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Importantly, the youth of the relevant countries have subscribed wholeheartedly to the principles of acceptance, cooperation and peace highlighted in the accords, communicating to the region that these ideals are the building blocks of the future. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords encourage collaboration and education. In the summer of 2022, Ben-Gurion University welcomed students from Morocco. Additionally, a number of Emirati students have enrolled in Israeli universities. Bahrain has also embraced the prospects for shared educational activities and signed a number of agreements with Israel to advance student and professor exchanges.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In anotable example of how these initiatives can foster mutual understanding, after Emirati Foreign Minister Sheikh Abdullah bin Zayed Al Nahyan visited the Yad Vashem Holocaust Remembrance Center in Jerusalem, the UAE incorporated Holocaust education into its school curriculum as a mandatory subject, attestation to the ability of the Abraham Accords to fostercoexistence and religious tolerance.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Abraham Accords have shown unity's power to inspire and provide opportunity.Theyoffer a window into a potential future of the region and demonstrate that when both leaders and ordinary citizensprioritize peace and cooperation, a far better future for the Middle East is possible.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Israel hopes that many more countries will join this endeavor, creatingabrighter tomorrow for the sake of all our children.</span></span></span></p> <p><em><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">(The author is the Ambassador of Israel to Nepal)</span></span></span></em></p> <p> </p> ', 'published' => true, 'created' => '2023-09-15', 'modified' => '2023-09-15', 'keywords' => '', 'description' => '', 'sortorder' => '18733', 'image' => '20230915081359_accord.jpg', 'article_date' => '2023-09-15 20:13:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18851', 'article_category_id' => '251', 'title' => 'Remittance: A Key Element in Nepal's Socio-Economic Landscape', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 28: In the fiscal year 2022/23, an astonishing 771,000 young individuals embarked on foreign employment from Nepal, according to the Department of Foreign Employment (DoFE). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This figure includes both new and re-permit workers who acquired work permits during the fiscal year 2022/2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Comparatively, during the preceding fiscal year 2021/22, a total of 637,133 workers pursued foreign employment. This reflects a substantial increase of 134,214 individuals opting for work permits abroad compared to the year before.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal has about 200 years of history of its young individuals seeking employment opportunities abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During this period, Nepali men ventured to foreign lands for various reasons, including work and participation in world wars. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many youths went to India to find employment, and some even served as soldiers in the First and Second World Wars. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Despite this long history, official records about the population's migration to India and other countries for jobs in the nineteenth century are lacking.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Foreign Employment reveals that in 1993-94, only 3,605 Nepalis left the country for jobs abroad. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This trend began to shift after 2000, when the Maoist insurgency that started in 1996 reached its peak. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2000-01, over 55,000 Nepalis went abroad due to the country's economic challenges resulting from the conflict. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over the last two decades, remittance inflows have grown significantly. In 2000-01, remittances Nepal received stood at Rs 47 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, in the fiscal year 2022/2023, remittance inflow has surged to Rs 1220.56 billion, as reported by Nepal Rastra Bank. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Popular job destinations for Nepali youths include Qatar, Malaysia, Saudi Arabia, UAE, and South Korea.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Role of Remittance in Nepal's Economy</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Remittance serves as the backbone of Nepal's economy and correlates with improved health and social indicators. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With a consistent inflow of remittances, Nepal has experienced transformation across various sectors, including poverty reduction, increased consumption, and bolstered foreign exchange reserves.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Contribution to GDP:</strong> Remittances play a crucial role in Nepal's economy, significantly contributing to the Gross Domestic Product (GDP). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They represent a stable and growing source of foreign exchange earnings, often constituting a substantial portion of Nepal's overall GDP. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> In the fiscal year 2022/2023, remittance's contribution to Nepal's GDP was 22%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Poverty Alleviation</strong>: Remittances have been instrumental in reducing poverty and enhancing the living standards of many Nepali households. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Families receiving remittances often witness a rise in disposable income, which can be directed towards education, healthcare, housing, and other essential needs. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's poverty rate decreased from 25.2% in 2010 to 16.6% in 2019, largely attributed to increased remittance earnings, according to a study. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Household Consumption:</strong> The influx of remittances stimulates household consumption, driving demand for goods and services across various sectors. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This increased demand can fuel economic growth, generate jobs, and create business opportunities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> A survey by Nepal Rastra Bank in 2014-15 revealed that 23.9% of remittance funds were spent on essentials like food and clothing.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Foreign Exchange Reserves</strong>: Remittances contribute to building and maintaining Nepal's foreign exchange reserves, crucial for stabilizing the country's currency and managing its balance of payments. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adequate foreign exchange reserves ensure import stability and economic resilience. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the fiscal year 2022/2023, remittance inflow reached Rs 1220.56 billion, bolstering Nepal's foreign exchange reserves, which stood at Rs 1539 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Investment and Savings</strong>: Remittances encourage increased savings and investment within Nepal. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Some households receiving remittances allocate funds to start businesses, invest in agriculture, or make other productive ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Real Estate and Construction</strong>: A portion of remittances often flows into the real estate and construction sectors. Remittances sent by migrant workers have driven growth in Nepal's real estate sector, particularly in urban areas like Kathmandu, where property purchases and construction have surged.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Education and Skill Development</strong>: Remittances enable families to invest in education and skill development. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many migrants send money back home to support their children's education, contributing to the country's human capital development. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The increase in private English-medium schools in Nepal is attributed to remittances from migrant workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many uneducated migrant workers working in the foreign lands have sent their kids to pursue higher education in the USA, Australia, Canada and the United Kingdom with remittances. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Challenges and the Path Ahead</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">While remittances yield numerous benefits, they also bring challenges. Nepal's economy has grown reliant on remittance inflows, rendering it susceptible to global economic fluctuations and shifts in migration patterns.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To address this, policymakers and stakeholders must collaborate to diversify the economy, promote domestic industries, expand tourism, and create an environment conducive to sustainable growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, while the demand for Nepali labor abroad is increasing, challenges such as bureaucratic hurdles and political deadlocks within Nepal persist. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">To mitigate these challenges, Nepal should expedite Government-to-Government (G2G) labor agreements with new destination countries, ensuring fair treatment and suitable compensation for migrant workers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> It's also essential to ensure that Nepali migrant workers are equipped with the necessary skills and knowledge before heading for foreign employment to secure higher-paying jobs that match their expertise.</span></span></p> ', 'published' => true, 'created' => '2023-08-28', 'modified' => '2023-08-28', 'keywords' => '', 'description' => '', 'sortorder' => '18580', 'image' => '20230828055728_collage (1).jpg', 'article_date' => '2023-08-28 05:51:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18799', 'article_category_id' => '251', 'title' => 'Why is the NEPSE Index on a Downward Trend?', 'sub_title' => '', 'summary' => 'On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 22: On July 23, the Nepal Rastra Bank (NRB) unveiled the monetary policy for the fiscal year 2023/2024. Subsequently, following the introduction of this policy, the Nepal Stock Exchange (NEPSE) Index has experienced a decline over 14 trading days and ascent over trading seven days. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Over this timeframe, the NEPSE Index has plummeted from 2227 points to 1998 points, marking a significant loss of 229 points.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that the NRB would ease its regulations concerning the stock market, which had been experiencing a bearish trend for the past two years. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">They expected that the central bank would decrease the risk weightage for loans against shares from 150 percent to 100 percent. Additionally, they anticipated the removal of the Rs 120 million cap imposed on share loans backed by securities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to these expectations, the Nepal Rastra Bank decided not to alter its policies regarding both the risk weightage for share-backed loans and the Rs 120 million limit on margin loans. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This decision disappointed investors. Longtime share investor Surendra Adhikari attributes the downturn in the stock market to the NRB and its Governor Maha Prasad Adhikari.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adhikari accused the Governor of aligning with the main opposition party, CPN-UML, and implementing stringent monetary policies to steer the economy. Moreover, he believes that the Governor holds a negative perspective on Nepal's stock market and its development.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Adhikari, the stock market's recovery depends on substantial investments from major investors. The existing Rs 120 million loan limit for securities has created challenges for big investors seeking to borrow money from banks to inject fresh cash into the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Experienced investor and market analyst Prem Kumar Oli noted that despite the liquidity in the banking system, banks were hesitant to provide credit to investors. He explained that established investors refrained from borrowing money due to the reluctance of banks and financial institutions to disburse credit promptly.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Oli, however, predicted that, despite the ongoing decline, the NEPSE Index would not experience a more severe drop. He advised individuals with surplus funds in the bank to consider purchasing shares at this time.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Interest rates and the stock market have an inverse relationship. When interest rates rise, share prices fall. Bonds become more attractive. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors were hopeful that banks would slash their interest rates for the period from mid-August to mid-September (Bhadra). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrary to their expectations, majority of the banks increased their rates for the period. They have offered interest rates up to 10.896% on individual fixed deposits for the period from mid-August to mid-September (Bhadra). </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the rates increase on deposits, interest rates on loans are expected to go up during this same period. Rate hikes may have prompted investors and traders to exit the market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The banking system currently has a liquidity of over Rs 350 billion. Finance Minister Dr. Prakash Sharan Mahat has approved including the local-level budget of approximately 100 billion as deposits. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, even with this liquidity in the market, investors are showing reluctance to take loans. What could be the reason behind this? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to a broker, "The present market is experiencing a downturn, and there's uncertainty about when it will rebound. This uncertainty is making investors hesitant about obtaining loans for long-term investments using borrowed money."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the stock market, the gains achieved in three months are sometimes equivalent to those obtained in three years. Consequently, many are cautious about investing in the declining market using borrowed funds due to the potential for incurring losses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Adding to this, the Central Bank has imposed a loan limit of 120 million for individuals seeking loans against shares. Notably, large investors have already hit this threshold.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As the market continues to decline, both small investors and traders find their capital trapped in the market. Brokers point out that they are unable to infuse fresh capital into the stock market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to data from the Central Bank, the total loan amount issued against shares experienced a 5% decrease in the fiscal year 2022/2023. Loans exceeding 10 million have seen a 4% reduction, loans ranging from 2.5 to 5 million have dropped by 16%, and loans below 2.5 million have decreased by 14%. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, loans within the 5 to 10 million range have shown an increase of 11%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Likewise, besides the stock market, various other financial activities have also significantly contracted, contributing to a shortage of new funds in the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Investors and brokers share the perspective that the bearish trend in the share market will persist unless regulatory bodies, such as the government and the central bank, shift their policies towards share market. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-22', 'modified' => '2023-08-22', 'keywords' => '', 'description' => '', 'sortorder' => '18528', 'image' => '20230822065539_collage (2).jpg', 'article_date' => '2023-08-22 06:48:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18740', 'article_category_id' => '251', 'title' => 'Pertinence of Independent Commission to Probe Gold Confiscated from TIA Premises', 'sub_title' => '', 'summary' => '"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 15: The Department of Revenue Investigation seized approximately 61 kg from Tribhuvan International Airport in the evening of July 19. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Acting on a tip-off, the department intercepted the precious metal from a taxi about to exit the TIA customs area. The smuggling of a massive quantity of gold from the customs clearance without its detection has sent waves across the political and business circles. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This substantial seizure of gold underscores the prevalent belief that corruption is deeply rooted and financial irregularities are entrenched within the government mechanisms and bureaucrats. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discovery of smuggled 61 kg of gold has led to a face-off between the main opposition party, CPN-UML, and the coalition government in the parliament.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Contrarily, the government has chosen to dismiss the opposition's call for the formation of an investigation committee to delve into the gold smuggling incident. The huge cache of the gold was captured by the Department of Revenue Investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the directive of the Prime Minister Pushpa Kamal Dahal, the department has handed over the all the files and evidences collected into the incident to the CIB to go deeper into the case and dig out the truth stating that the incident draws to the organized crime due to the complexities of the scandal and wide connection of the scam. </span></span></p> <p><strong><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Though the main opposition party, CPN-UML led by KP Oli has been demanding the formation of a high-level independent probe committee to investigate the 61 kg gold scam and disrupting the parliament for over two weeks, the governmnet has chosen to dismiss such calls". </span></span></strong></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Home Minister Narayankaji Shrestha, addressing the House of Representatives, asserted the capability of existing government agencies like the Central Investigation Bureau (CIB) and Nepal Police to comprehensively investigate the incident and unveil the truth. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Minister Shrestha proposed that the opposition party grant a 35-day period for the government's CIB to conduct its inquiry into the 61 kg gold affair.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Amidst this backdrop, the question arises: Is it appropriate and necessary to establish a dedicated probe commission to investigate the gold scandal? Can not the Nepal Police and CIB, which are established to investigate and control the crimes, effectively delve into the depths of the incident and unearth the facts? </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Before addressing these inquiries, it is crucial to examine the various government bodies that have been established to combat corruption and irregularities within the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the era of the Panchayat regime, the creation of the Special Police Department (later known as the National Vigilance Centre) aimed to combat minor instances of corruption, while the Royal Palace established the Janch-buj Kendra to address major cases of corruption. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Subsequently, the CPAA was introduced in 1975 with extensive authority to investigate, prosecute, and adjudicate corruption-related crimes, evolving into the present-day CIAA after the restoration of democracy in 1990.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Commission for the Investigation of Authority (CIAA) serves as the apex constitutional body responsible for combating corruption within the Government of Nepal. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Empowered by the Constitution of Nepal 2072, the CIAA is authorized to investigate cases involving public officials and their associates engaged in authority abuse through corrupt practices. Another anti-corruption entity, the National Vigilance Centre (NVC), was established in accordance with the Anti-Corruption Act, 2059 B.S., with the goal of promoting good governance, economic discipline, and transparency. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Department of Money Laundering Investigation (DMLI), formed in 2011, focuses on combating money laundering, terrorist financing, and illicit earnings. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Central Investigation Bureau (CIB), a division of Nepal Police, possesses the mandate to investigate severe crimes, including financial irregularities and smuggling.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A substantial fund from taxpayers is channeled into the remuneration and benefits of individuals working within government agencies dedicated to combating corruption, irregularities, and other illicit activities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> These agencies have employed numerous professionals, each trained to combat corruption, address anomalies, and curb unlawful behaviors, including instances of financial irregularities and the smuggling of valuable metals such as gold within the nation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of this, it becomes a matter of prudence for the government to strategically allocate the requisite and ample resources needed to empower these anti-graft bodies. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">By doing so, these agencies can effectively and efficiently execute their responsibilities, contributing to a more transparent and accountable government functioning. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The question now arises: Would an independent body, as demanded by the opposition, be more adept at investigating the 61 kg gold smuggling incident through Tribhuvan International Airport (TIA)? Is it judicious to bypass existing government entities, designed to combat corruption and anomalies, in favor of establishing a separate investigative commission? Historical instances of independent commissions have not set an encouraging precedent.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A case in point is the wide-body aircraft scandal. A parliamentary sub-committee exposed irregularities worth Rs 4.35 billion in the procurement of wide-body aircraft deals, implicating the sitting tourism minister, the NAC managing director, and several government officials, including former tourism ministers. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>The demand to form a sepearte commission to investigate the gold arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the government formed an independent commission led by former chief judge Govinda Prasad Parajuli. The commission was given a 45-day timeline to submit its findings, seemingly to quell opposition voices.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The principal opposition party, CPN-UML, has persistently demanded the establishment of an independent commission or committee to investigate the issue at hand. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This demand arises from a lack of confidence in government bodies such as the Central Investigation Bureau (CIB), which fall directly under the jurisdiction of Prime Minister Pushpa Kamal Dahal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, CPN-UML's push for an independent commission serves a broader political agenda. It appears that the party is aiming to sow discord among the ruling coalition partners, particularly the Nepali Congress and CPN-UML. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"<strong>By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential."</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">T</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">he arrest of Nepali Congress lawmaker Sunil Sharma by the Central Investigation Bureau provided the opposition with a rallying point. The main opposition leveraged the arrest to fuel their sentiment, showcasing CPN-UML's efforts to create fractures within the coalition partners.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The overt praise and public hobnobbing of Sunil Sharma and KP Oli suggest that Oli is resolute and shrewd availing every opportunity to destabilize the coalition partnership and unseat the collation government at any cost. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even if the government concedes and forms an independent commission, the commission's effectiveness could be marred by delays. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Negotiations surrounding the commission's mandate, membership, and jurisdiction could lead to substantial time consumption.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> By the time the commission delivers its findings, those implicated might have found refuge elsewhere, ultimately rendering the commission's efforts and its subsequent report inconsequential.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-15', 'modified' => '2023-08-15', 'keywords' => '', 'description' => '', 'sortorder' => '18469', 'image' => '20230815060756_collage (15).jpg', 'article_date' => '2023-08-15 05:55:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18673', 'article_category_id' => '251', 'title' => 'Exploring the Reasons Behind Nepali Students' Exodus in Pursuit of Higher Education Abroad', 'sub_title' => '', 'summary' => 'A number of factors such as societal and peer pressure, pervasive political interference in academics, mess in education system, and inherent curiosity prevalent in today's youngsters combine to drive Nepal's students to seek education abroad in foreign universities and colleges. ', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 8: Hangma Limbu is currently doing A-Levels at Malpi Institute in Baluwatar. After her class concluded, I engaged in a casual conversation with her. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Curious about her choice of A-levels, I inquired, "What motivated you to opt for A-levels?" To this, she promptly responded, "A-levels serve as a direct passport for international opportunities," highlighting their potential to facilitate for overseas education.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Milan Sharma works as a Senior Reporter at a prominent national economic newspaper in Kathmandu. He holds a Bachelor of Business Administration (BBA) from Pokhara University with straight A’s across all subjects. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">One Saturday morning, we met at a café and delved into diverse topics. As our conversation drew to a close, Milan expressed his interest in seeking guidance to secure funding for a Master's Degree at a reputable university in either the US or Canada.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the summer hiatus of 2023, I embarked on a journey to my uncle's house in Jhapa. My uncle is the proud father of Rojan, his eighth-grade son. Though Rojan has a commendable academic track record, uncle is concerned with Rojan’s proficiency in English. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"Recommend some books and resources to assist your younger brother in enhancing his English skills, enabling him to excel in IELTS and pursue higher education in Australia post his twelfth grade," my uncle commanded me.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These instances reflect the growing trend of students seeking higher education abroad. If the ongoing exodus of students seeking higher education abroad persists, there is a risk of classrooms and lecture halls going vacant. This concerning trend could potentially culminate in the unfortunate closure of colleges and universities in the future in the country, some analysists fear. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This write-up aims at exploring the major reasons behind the exodus of Nepali students to overseas in pursuit of higher education. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Social reason:</strong> our society has constructed a new narrative of social status. If you venture out in the foreign land and settle down there, you and your family receive admiration and respect. If you study, work and settle down in English speaking country, you receive a tag of being competent, capable, and successful in the eyes of the society.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Not going anywhere, especially to America, Canada, or Australia, is tantamount to a failure. If you work in a private company, have launched a small business, people don’t even recognize your efforts. They say, “he started a business because he could not go abroad”. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“If you study, work and settle down in English speaking country, you are competent, capable, and successful in the eyes of the society. Not going anywhere, especially to America, Canada, or Australia, is tantamount to becoming a failure</strong>.”</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Many parents begin to plan for sending their children abroad from as early as high school. However, instead of assisting their children in discovering their interests and talents, some parents prioritize the idea of sending them to a foreign country for the sake of "prestige and status in society."</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Another motivation driving this pursuit is the desire to eventually visit the country where their sons and daughters settle down. Phrases like "My son resides in the USA" or "My daughter holds permanent residency in Canada" often serve to boost parent’s egos within the community.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Undoubtedly, there are young individuals who initially have a strong desire to study, work, and remain in their home country. However, after a few semesters, their enthusiasm to stay in Nepal can suddenly wane. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Meanwhile, their peers from school may have already ventured abroad, flooding social media with picturesque images of beaches, iconic landmarks, expansive highways, and grand universities surrounded by lush greenery. These posts can easily divert the attention of these young individuals from their academic and professional pursuits in Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Parents, too, hold certain expectations from their children. They compare their children's progress with those of their peers and ask questions like, "Your friend has already sent money and phones to his parents. When will you start working and earning? Why don't you apply and go abroad like them?" </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These parental questions add to the pressure felt by sons and daughters. This combination of peer pressure and familial expectations compels many young people to pursue opportunities abroad, often at any cost.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Deficiency in education system</strong>: A robust education system hinges on key factors such as dynamic syllabus and curriculum revisions, consistent teacher training and workshops, a transparent and reliable assessment structure, well-equipped laboratories, and timely result announcements. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These elements collectively contribute to the competitiveness of an education system in today's rapidly evolving world.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">However, the stagnation in curriculum and syllabus updates within Nepal's education system presents a significant obstacle. Without continuous adjustments, students are deprived of knowledge that aligns with global advancements.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Vital fields like technology, business, and sciences demand frequent updates to stay relevant to emerging trends. The absence of timely revisions leaves students ill-equipped with outdated information, ultimately diminishing their competitiveness within the global job arena.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the examination system in Nepal grapples with persistent delays and unreliability, causing substantial disruptions to students' academic journeys and future career prospects. The consistent delays in result publication only add to the frustration. Students find themselves waiting for months, and in some cases, even years, to receive their results. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This delay not only hampers their career trajectory but also impedes their pursuit of further education. A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“A master’s two-year course might take four years to complete. This might frustrate youths from pursuing higher education in home country.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the dearth of training programs and workshops for faculty members hinders their ability to enhance subject expertise and refine pedagogical skills. The absence of an equitable and transparent hiring process discourages accomplished individuals from pursuing teaching and mentoring roles, further exacerbating the scarcity of qualified educators. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a shortage of well-equipped laboratories impedes practical learning opportunities in subjects such as Physics, Chemistry, agriculture, and engineering. This deficiency in practical facilities undermines the comprehensive educational experience and fails to adequately prepare students for real-world applications.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Compounding these challenges, examinations are not consistently administered according to the published schedule, adding to the uncertainty and disarray within the education system. Even when examinations are conducted as planned, there is no assurance that results will be released in a timely manner, exacerbating the frustration and disruption experienced by students.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Politicization</strong>: Politicization within academic institutions represents a disconcerting facet of Nepal's education system. This issue becomes evident when examining the affiliation of school, college and university level teachers with various political parties, leading them to neglect their responsibilities and prioritize political advocacy over student performance, skill enhancement, and academic progress.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, political influence extends to the composition of university office members, who are often shared between the ruling government and opposition parties. The appointment of Campus Chiefs by the governing party further highlights the pervasive political interference within academic institutions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, campuses that should serve as bastions of education have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The volatile nature of this politicization is exemplified by unpredictable student union actions, such as padlocking colleges and universities, which disrupts academic activities. Government campuses frequently witness clashes between rival student factions affiliated with different political parties, further exacerbating the politicization of these institutions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>“There is pervasive political interference within academic institutions. Regrettably, campuses have transformed into arenas for political maneuvering rather than centers of innovation, invention, and research.”</strong></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Colleges, campuses, and universities, originally envisioned as hubs of intellectual growth, have regrettably become platforms for flexing political muscle and showcasing the strength of rival parties and their student wings.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This intrusive political interference has proven to be a significant impediment to the pursuit of quality education and research. Consequently, the dream of attaining a genuinely high-quality education remains elusive.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Student unions frequently subject college and university administrations to duress, preventing them from working freely and fairly towards academic development. D</span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">isturbing incidents of students assaulting faculty members under various pretexts serve as distressing indicators of the chaos and impunity that have permeated Nepal's education system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Lacuna between theory and practice: </strong>The education system in Nepal suffers from a significant imbalance between theory and practical skills, which hampers students' ability to succeed in the real world. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A prime example of this discrepancy can be observed in the field of Business Administration (BBA), where graduates may lack fundamental knowledge of essential banking and insurance services despite completing their degree. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, graduates in the field of agriculture often lack practical skills required for effective agricultural practices. Language and literature graduates may struggle when it comes to crafting well-written application or complaint letters, highlighting the deficiency in practical writing skills.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Regrettably, universities and colleges have become factories that produce a surplus of unemployed graduates. These individuals may have spent several years pursuing their education, but their lack of marketable skills leaves them struggling to secure decent employment in today's fiercely competitive job market.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The curriculum primarily focuses on imparting theoretical knowledge, neglecting the crucial practical skills necessary for survival and success in various industries and areas. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Shortage of opportunities:</strong> One of the pressing issues Nepal faces is the lack of opportunities and inadequate incentives for educated youths inside the country. Despite their qualifications, many individuals, including engineering and medical science graduates, find themselves jobless due to the scarcity of suitable employment options. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This lack of opportunities has led to a significant outflow of doctors, nurses, engineers, and other professionals seeking better prospects abroad. The perception of limited job prospects and minimal job security in the country has encouraged talented graduates with exceptional academic records to pursue higher education in foreign lands. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Even in cases where employment opportunities do exist, these jobs often pay meager compensation packages and lack the security necessary to sustain a prosperous livelihood. The corporate landscape is plagued by companies and industries notorious for paying paltry salaries, compelling the youth to turn their gaze towards foreign shores.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Inherent Curiosity</strong>: Humans, particularly the younger generation, possess an innate curiosity that drives them to travel to novel destinations, embrace unfamiliar cultures, and amass fresh experiences.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Throughout the course of human history, individuals have embarked on journeys, driven by the pursuit of opportunities, the allure of exploration, and the desire to uncover new territories. Even prior to the advent of modern transportation methods, humans displayed a penchant for world exploration.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The evolution of communication and transportation technologies has transformed the world into a closely interconnected global community. Consequently, it is entirely natural for young individuals to step beyond their comfort zones and embark on global expeditions. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the contemporary era, the notion of staying rooted in a single location indefinitely has lost its appeal. People aspire to pursue education in one nation, pursue careers across several others, engage in humanitarian work in distant corners of the world, and ultimately retire in a foreign land.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Hence, it is unsurprising that Nepali youngsters, like their global counterparts, venture beyond their homeland in search of educational goals, personal growth, lucrative opportunities, skill acquisition and international exposure. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"><strong>Conclusion: </strong>The trend of students seeking higher education abroad is a multifaceted issue with far-reaching implications. The stories of Hangma Limbu, Milan Sharma, and Rojan highlight the undeniable allure of international education, job opportunities, and the pursuit of personal growth that push individuals away from their home country. However, this growing exodus raises crucial concerns that call for serious attention. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal's education system is marred by systemic deficiencies, from outdated curricula to unreliable examinations, and a lack of practical training facilities. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The pervasive politicization of academic institutions further undermines the quality of education, transforming campuses into arenas of political maneuvering rather than centers of intellectual growth.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The gap between theoretical knowledge and practical skills has left many graduates unprepared for real-world challenges, contributing to unemployment and underemployment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, the intrinsic curiosity of the human spirit remains a driving force. The urge to explore, learn, and embrace new experiences is a universal trait, propelling Nepali youngsters to set their feet in the foreign lands to broad their horizons. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-08', 'modified' => '2023-08-08', 'keywords' => '', 'description' => '', 'sortorder' => '18402', 'image' => '20230808061226_collage (6).jpg', 'article_date' => '2023-08-08 06:00:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18299', 'article_category_id' => '251', 'title' => 'Government Under Pressure to Reduce Current Expenses', 'sub_title' => '', 'summary' => 'June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs 5800 billion.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">June 28: The projection made by the National Planning Commission for the government’s medium-term expenditure structure for the next three years states that expenditure from the state coffers will to be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">58</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion. Out of the total projection, the share of current expenditure will be much more than the size of capital expenditure. The commission has projected that the current expenditure will be around Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">36</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion and the capital expenditure will be only Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">00 billion.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This figure confirms the fact that the National Planning Commission or the government is thinking of giving continuity to the way it has been allocating budget without paying attention to the needs of the country. It seems that a lot of effort is needed to improve the structure.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">First of all, there is a need to make extensive reductions in the current expenses of the government. Some government offices are being scrapped and merged as per the budget announcement for the next fiscal year. By speeding up this process in the future, other unproductive offices should also be scrapped.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, it is said that the federal government has more employees than necessary. Therefore, the employees of the federal government should be adjusted at the state and local levels, and the state should not be burdened financially by just increasing the number of employees. Although there is no doubt that the state should provide social security, we cannot ignore the fact about the state’s capacity. Therefore, the spending on programs without any returns cannot be justified on any basis. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The problems will exacerbate if we continue to delay the plans and programs to boost the economy. Otherwise, there is no guarantee that the state treasury will not be used up in current expenditure in the future if the current trend continues.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-28', 'modified' => '2023-06-28', 'keywords' => '', 'description' => '', 'sortorder' => '18029', 'image' => '20230628111524_20220725014945_rising-graph.jpeg', 'article_date' => '2023-06-28 11:14:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18280', 'article_category_id' => '251', 'title' => 'Arrival of Tourists up by 45 % Compared to 2022', 'sub_title' => '', 'summary' => 'June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">MK Kulung</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">June 26: In five months of 2023, a total of 404,231 foreign tourists visited Nepal. According to Nepal Tourism Board’s data, altogether 55,074 foreigners visited Nepal in January, 73,255 in February, 99,426 in March, 98,773 in April and 77,703 in May. In the six months of 2022, only 237,000 foreign tourists had visited Nepal.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data, the first five months of 2023 saw a 45 percent growth in arrival of tourists compared to the corresponding period of 2022. Therefore, if foreign tourists arrive at the same rate this year, there is a possibility that the number of tourists in Nepal will increase to the mark of 1 million. Likewise, in the six months of 2022, Nepal earned foreign currency equal to Rs 25.52 billion from tourism. However, in the year 2023, the data regarding how much money they spent in a period of five months has not come out yet.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">During the same period of the fiscal year 2077-078 (the year 2021), tourism contributed Rs 6.69 billion to the economy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At the end of December 2019, not only Nepal's tourism industry, but the world's tourism industry had to suffer an unexpected shock due to Covid-19 which spread from China’s Wuhan, the capital of the South-eastern province of Hubei, and gradually took over the global. However, now that the World Health Organization (WHO) has declared the end of Covid-19 as a global emergency and world tourism activities are gaining momentum.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">However, if we look at the history of tourism in Nepal, it is only since 1963 that the government of Nepal has officially started keeping statistics of foreign tourists visiting Nepal. After almost 60 years since then, i.e. in 2023, the number of foreign tourists coming to Nepal is increasing, which is a very good sign.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Looking at the encouraging number of foreign tourists who visited Nepal in recent years, the government of Nepal announced that 2018 will be celebrated as the Visit Nepal Year.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">But in 2018, due to various reasons, it was not possible to celebrate the Visit Nepal Year, and preparations were made to celebrate 'Visit Nepal Year-2020' again in 2020 with an ambitious plan to attract two million foreign tourists in a year. However, due to the Covid-19 pandemic, the Government of Nepal postponed the 'Visit Nepal Year-2020'. Although all the preparations were completed and some programs were implemented, and the inauguration was done, it had to be postponed.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">At that time, experts in the world's tourism industry estimated that it would take at least 2024/26 for the tourism industry to return to normalcy.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the future, it seems that efforts should be made to attract as many Chinese tourists as possible to Nepal. If this can be done, the Nepali tourism industry will progress quickly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the data compiled by various organizations related to world tourism, including UNWTO, Chinese tourists have consistently ranked among the highest-spending tourists in the world.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Also, based on the number of Chinese tourists, they are ranked at the top among people going on the world tour. Recently, in collaboration with the Chinese people, a dragon boat competition was organized in Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The Chinese tourists who took part in it chartered a plane and landed in Pokhara. This has raised the prospects of Chinese tourists coming to Pokhara in the future.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">In the recent past, the second largest number of tourists visiting Nepal were Chinese after the Indians. This is not the case at present, but it can be expected that Chinese tourists will increase. For them, Pokhara is the most attractive tourist destination in Nepal. That's why they seem eager to come to Pokhara.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">It seems that various tourist infrastructures built there have also attracted Chinese tourists. Nepali businessmen should take the initiative to bring Chinese tourists to Nepal through chartered flights. If this can be done, it seems that Nepal's tourism will be completely revived. However, their expenses seem to depend on the activities conducted here.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-26', 'modified' => '2023-06-26', 'keywords' => '', 'description' => '', 'sortorder' => '18011', 'image' => '20230626010005_20230623024119_KrishnaDawadi_Kaski_RSS_08_boatracecometion.jpg', 'article_date' => '2023-06-26 12:58:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17981', 'article_category_id' => '251', 'title' => 'Unlocking Investment Potential in Nepal: Exploring the Stock Market as a Path to Wealth Creation', 'sub_title' => '', 'summary' => 'Of three major areas of investment, stock market offers a comprehensive and wide-ranging avenue for investment in Nepal, allowing all kinds of investors-institutional and retailers- to create capital by outpacing inflation and fixed deposit returns. ', 'content' => '<p><span style="font-size:18px">May 26: While Nepal's investment options maybe limited, it is important to recognize that investing remains the most reliable approach to outpacing inflation, creating capital, and generating substantial wealth. </span></p> <p><span style="font-size:18px">Although depositing money in bank accounts can yield modest returns, it falls short in terms of multiplying capital and enabling the creation of significant wealth.</span></p> <p><span style="font-size:18px">Nepal has primarily three areas available for investment- real estate, business and stock market. Once upon a time, investing in real estate was widely regarded as one of the most lucrative endeavors. </span></p> <p><span style="font-size:18px">If you had invested Rs 1 to 3 million in the early 2000s, the potential for exponential returns was immense, with the possibility of multiplying your capital by up to tenfold. Savvy investors who entered the real estate market in Kathmandu and other major cities during that era reaped massive wealth within a decade.</span></p> <p><span style="font-size:18px">However, the tides have turned in the realm of real estate. Land sizes have diminished, and the value of land has skyrocketed to exorbitant levels. Presently, even the farthest outskirts of the Kathmandu valley have per anna land prices ranging from 25 to 30 lakhs. </span></p> <p><span style="font-size:18px">As a result, individuals with limited capital shy away from investing in real estate due to the lack of sufficient funds. Additionally, the Nepal Rastra Bank has imposed stringent lending regulations on real estate, allowing only 30 percent loan against the total collateral valuation for homes and land. This not only makes it challenging for small-scale investors but also poses difficulties for larger investors looking to venture into the real estate market.</span></p> <p><span style="font-size:18px">Moreover, the government has introduced new legislation that classifies land into ten categories based on various features and geographic considerations. These categories include agricultural, residential, commercial, industrial, mines, forests, public use, and cultural-archeological designations, among others. </span></p> <p><span style="font-size:18px">Furthermore, land plotting has been prohibited unless the land has been appropriately classified, further complicating and diminishing the viability of real estate investments.</span></p> <p><span style="font-size:18px">Engaging in business endeavors within Nepal presents significant challenges, particularly for newcomers and those lacking experience. The country boasts several well-established business conglomerates with a global presence, including the likes of Chaudhary Group, Golchha Organization, Murarak Group, Chachan Group, Golyan Group, Kedia Organization, Khetan Group, Vishal Group, Vaidya Organization of Industries and Trading Houses (VOITH), Prabhu Group, Laxmi Group, Shanker Group, Universal Group, IME Group, and Jyoti Group. </span></p> <p><span style="font-size:18px">These influential entities exert control over a wide range of sectors encompassing manufacturing, trade, banking, insurance, healthcare, agriculture, hydropower, tourism, real estate, food and beverage, as well as vehicle import and sales.</span></p> <p><span style="font-size:18px">For individuals entering the business arena with limited capital and lacking political and bureaucratic connections, competing with these established business houses proves immensely challenging. Newcomers and aspiring entrepreneurs rarely manage to establish themselves successfully in the business world due to these barriers.</span></p> <p><span style="font-size:18px">Furthermore, the majority of people in Nepal tend to be risk-averse and lack the courage to venture into entrepreneurial pursuits. Additionally, the insufficient capital resources further hinder their ability to start their own businesses.</span></p> <p><span style="font-size:18px">Although a nascent startup culture has begun to emerge in Nepal, the government is yet to formulate comprehensive laws and regulations to promote and support such initiatives. All these factors contribute to the prevailing perception that doing business in Nepal is a daunting and arduous task.</span></p> <p><span style="font-size:18px">Investing in Nepal's stock market offers a comprehensive and wide-ranging avenue for investment. While there are stories of individuals losing their assets and even resorting to extreme measures due to stock market investments, many people remain hesitant to participate in the secondary market due to perceived risks. These cautionary tales serve as warnings, deterring others from venturing into the stock market.</span></p> <p><span style="font-size:18px">Undoubtedly, investing entails risks, and the stock market is no exception. However, a careful study and analysis of the stock market reveal that it is not as perilous as commonly portrayed. </span></p> <p><span style="font-size:18px">Despite inherent risks, stock market presents ample benefits. One of the advantages is the ability to start investing with any amount of surplus funds, whether it's Rs 50,000, Rs 5,000,000, or even higher. Unlike other ventures like businesses or real estate, which often require substantial capital, the stock market allows individuals to embark on their investment journey with any available surplus fund. </span></p> <p><span style="font-size:18px">Unlike real estate, which typically maintains its value even during bearish periods, the secondary market, NEPSE, moves in cycles of bullish and bearish trends. This presents an opportunity to purchase shares of favored companies at low prices during downward trends. </span></p> <p><span style="font-size:18px">In contrast, it is rare to find heavily discounted land or properties in the real estate market during downturns. In the stock market, one is never left behind, always having the chance to acquire shares of top-performing companies at unimaginably low prices.</span></p> <p><span style="font-size:18px">Another advantage of the stock market is its liquidity. Life's uncertainties may require immediate financial solutions, such as medical emergencies, funding for education, or urgent travel expenses. </span></p> <p><span style="font-size:18px">In such cases, selling shares can provide the necessary cash. Real estate investments may not provide the same level of flexibility in addressing immediate and urgent financial needs, especially during downturns when selling property becomes challenging.</span></p> <p><span style="font-size:18px">The stock market offers a wide range of options to choose from, with numerous real and manufacturing sectors, banks, and insurance companies listed on NEPSE. These listed companies operate real businesses in the tangible world. </span></p> <p><span style="font-size:18px">By conducting thorough analyses and investing in companies with growth and expansion potential, there is a significant opportunity to multiply investments. A company valued at Rs 10 million can grow into a billion-dollar enterprise, resulting in an unimaginable expansion of one's portfolio. In contrast, the size of land remains fixed, limiting its growth potential.</span></p> <p><span style="font-size:18px">The stock market experiences cycles of bears and bulls. By studying technical charts, indicators, and keeping an eye on fundamental factors such as the country's economy, interest rates, liquidity in the banking system, and political conditions, investors have a chance to multiply their capital within a short period. Such rapid growth opportunities are not as readily available in real estate or start-up businesses.</span></p> <p><span style="font-size:18px">Investing in the stock market offers transparency and convenience. While buying real estate often involves inspecting numerous plots before making a decision, studying and researching companies listed on NEPSE can be done from the comfort of one's home. </span></p> <p><span style="font-size:18px">Transaction costs, including broker commissions, taxes, and regulatory fees, are fixed and transparent, ensuring fair dealings without any hidden agendas. Stock markets are regulated and operate under strict rules, providing transparency and investor protection. Access to company information, financial reports, and market trends empowers investors to make informed decisions.</span></p> <p><span style="font-size:18px">Diversification is another bright side of investing in NEPSE. It allows investors to spread their investment across different sectors, such as banking, insurance, manufacturing, hotels and tourism, and investments, among others. </span></p> <p><span style="font-size:18px">This diversification helps to reduce overall risk and potentially increase overall portfolio returns. Even if losses occur in one company, they can be offset by profits from another, minimizing the impact of individual setbacks.</span></p> <p><span style="font-size:18px">Nepal's stock market holds significant promise as an emerging market, indicating considerable potential for growth. Emerging markets, being in the early stages of economic development, often offer higher returns compared to established markets.</span></p> <p><span style="font-size:18px">Investing in NEPSE can be particularly advantageous for long-term investors who are willing to hold their investments over an extended period. As Nepal's economy continues to progress and mature, the stock market has the potential to deliver substantial returns for patient investors.</span></p> <p><span style="font-size:18px">Another benefit of investing in NEPSE is the opportunity to earn dividend income. Many companies distribute a portion of their profits to shareholders in the form of dividends. This practice provides a reliable and steady stream of income, making dividend-paying stocks attractive for income-oriented investors seeking regular cash flow. </span></p> <p><span style="font-size:18px">By investing in such stocks, investors can benefit from both potential capital appreciation and recurring dividend payments, enhancing their overall investment returns.</span></p> <p><span style="font-size:18px">After analyzing the four bullish and bearish trends in the NEPSE, it becomes evident that newcomers tend to enter the stock market when the bull run is at its peak. Their decision is often influenced by hearing about their friends and neighbors making substantial profits.</span></p> <p><span style="font-size:18px">Conversely, experienced and savvy investors choose to exit their positions during the mid to peak points of a bullish trend. Unfortunately, newbies enter the market at this juncture, experiencing initial gains and a sense of elation. </span></p> <p><span style="font-size:18px">However, as the market eventually shifts into a bearish mode, their hopes of quick and easy profits are shattered. This unfavorable turn of events often leads to significant financial losses, feelings of despair, and even cases of suicide, thereby spreading negative sentiments about the stock market.</span></p> <p><span style="font-size:18px">Ultimately, the success of investing in the NEPSE stock market relies on taking certain precautions and adopting a strategic approach. By considering the following guidelines, individuals can enhance their chances of making informed investment decisions and creating wealth:</span></p> <p><span style="font-size:18px">1. Study the bullish and bearish trends in the stock market to understand the market dynamics and identify favorable entry and exit points.<br /> 2. Develop a basic understanding of technical charts, which can provide insights into price patterns and trends.<br /> 3. Conduct thorough research on companies, analyzing their past performance, current situation, and potential for future growth.<br /> 4. Capitalize on opportunities when the market is in a bearish trend, as this may present favorable prices for acquiring stocks.<br /> 5. Take advantage of bullish trends by selling stocks and patiently waiting for opportune moments to reinvest your money.<br /> 6. Avoid being swayed by rumors and hearsay, as they can often mislead investors.<br /> 7. Stay informed about the state of liquidity in banks, interest rates, and the overall financial condition of the country, as these factors can impact stock market performance.<br /> 8. Consider the effects of major calamities, pandemics, and unforeseen disasters, as the NEPSE has historically experienced growth following such events.<br /> 9. Select a few top-performing companies with growth prospects from various sectors and focus your investments on them.</span></p> <p><span style="font-size:18px">By following these precautions and guidelines, investors can approach the stock market with a more informed and calculated approach, increasing their chances of success and wealth creation.</span><br /> </p> ', 'published' => true, 'created' => '2023-05-26', 'modified' => '2023-05-26', 'keywords' => '', 'description' => '', 'sortorder' => '17712', 'image' => '20230526060045_collage (12).jpg', 'article_date' => '2023-05-26 05:40:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '17884', 'article_category_id' => '251', 'title' => 'The History and Causes of Bullish and Bearish Trends in the Nepal Stock Exchange (NEPSE)', 'sub_title' => '', 'summary' => 'Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. ', 'content' => '<p><span style="font-size:18px"> </span></p> <p><span style="font-size:18px">May 17: The history of the share market in Nepal is relatively short compared to other countries. The Nepal Stock Exchange (NEPSE) was established in 1993 as the country's only stock exchange. As the only stock exchange company, the Nepal Stock Exchange (NEPSE), formally opened its trading floor on13th January 1994. </span></p> <p><span style="font-size:18px"> Initially, NEPSE had only 37 listed companies, and trading was conducted manually using an open outcry system. However, in recent years, NEPSE has modernized its trading platform, and as of 2023, there are around 269 listed companies. </span></p> <p><span style="font-size:18px"> Recent data at the Central Depository Services and Clearing Limited (CDSC) show that the number of Demat account holders in Nepal has surpassed 5 million. </span></p> <p><span style="font-size:18px">Despite its short history, the Nepalese stock market has seen its fair share of ups and downs. NEPSE has witnessed four bull markets and subsequently—four bear markets since its inception. The NEPSE Index witnessed four major booms and crashes in the years 2000, 2008, 2016 and 2021. </span></p> <p><span style="font-size:18px">This article will explore the timeline of bullish and bearish trends in the NEPSE Index, analyzing the underlying economic and political causes that drove these fluctuations.</span></p> <p><span style="font-size:18px"><strong>Reasons behind the 2000 NEPSE Index crash </strong><br /> The Nepal Stock Exchange (NEPSE) index gained bull run pace from 1999 which tripled in around two and half years, and reached a high of 545.82 on November 23, 2000. </span></p> <p><span style="font-size:18px">However, within a short period of one and a half years, the NEPSE index crashed to a low of 186.22 points, and it took another five years for the index to surpass its previous high of 545.82 points.</span></p> <p><span style="font-size:18px">One of the main reasons behind the 2000 NEPSE index burst was the declining GDP growth rate. From 1994 to 1999, the GDP growth rate was impressive, averaging at 6%. However, in 2000, the GDP growth rate dropped to 4.80% followed by a further decline to 0.10% in 2001. </span></p> <p><span style="font-size:18px">The agricultural sector, which is a significant contributor to Nepal's GDP, suffered from low productivity due to drought and unfavorable weather conditions, as the country lacked modernized irrigation facilities.</span></p> <p><span style="font-size:18px">In addition to low agricultural productivity, the country was also facing a civil war which resulted in the killing and unlawful occupation of public property. The government was forced to shift its focus from development to protection of citizens, which resulted in a lack of political stability and security in various sectors, including tourism.</span></p> <p><span style="font-size:18px">As a result, production in all these sectors decreased, causing a sharp decline in GDP growth and discouraging investors from entering the stock market.</span></p> <p><span style="font-size:18px">The civil war was one of the main reasons behind the NEPSE burst in 2000, creating an unstable political and economic environment that discouraged investors from further investing in the stock market. People were more concerned about saving their wealth rather than growing it, leading to a decline in market participatio.</span></p> <p><span style="font-size:18px"><strong> Examining the reasons for the NEPSE's crash in 2008 </strong><br /> The end of Nepal's 10-year internal conflict in 2006 brought a sense of optimism among investors, especially with the introduction of a three-year budget plan focused on the country's development. </span></p> <p><span style="font-size:18px">The uptrend from 2006 continued to gain pace until the index touched the high of 1175 in August 2008, as the political situation remained relatively stable, despite the problem of changing governments and the pending introduction of a new constitution.</span></p> <p><span style="font-size:18px">During the conflict period, many people migrated to cities from rural areas and started buying properties, leading to an unexpected increase in real estate rates. Banks encouraged real estate brokers and the public to take out loans, leading to a surge in cases of loan defaults, and the banks' liquid assets were converted into non-banking physical assets.</span></p> <p><span style="font-size:18px">The demand for loans raised interest rates and reduced liquidity in banks. Interest rate and share market always have inverse relationship. When interest rates rise, sharemarket falls, and vice-versa. Investors exited from the sharemarket and parked their cash in the fixed deposits, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">As investment opportunities in Nepal are limited, the investment capital mainly revolves around three major sectors: stock market, real estate, and fixed deposit. The flow of capital was directed towards the real estate sector, leading to a decline in the charm of the stock market for both institutional and retail investors, resulting in a decline in the NEPSE index.</span></p> <p><span style="font-size:18px">In 2007, the GDP growth rate was 6.10%, followed by a decrease to 4.50% in 2008 and 4.80% in 2009. The NEPSE index burst in 2008 was mainly due to the high demand for the real estate sector and soaring interest rates, which degraded the attraction of the stock market.</span></p> <p><span style="font-size:18px">After the burst, it took four years for the NEPSE index to return to an uptrend, and six years to cross the high of 1,175.38 points. <br /> <strong>Underlying causes behind boom and burst of 2015-2016</strong><br /> In 2015-2016, Nepal faced a series of events that caused both boom and burst in the country's capital market. The earthquake of 2015 had a significant impact on the real estate sector, as people were not interested in owning luxury items and the demand for loans decreased. </span></p> <p><span style="font-size:18px">This led to lower loan rates and subsequently, lower fixed deposit rates, making both banking and real estate sectors unattractive for investors. Consequently, capital started flowing into the stock market, and NEPSE reached a high of 1,881 points in July 2016. </span></p> <p><span style="font-size:18px">During this period, the public invested in the stock market by taking loans from banks because the return on investment in the capital market was much higher than the bank's loan rates. </span></p> <p><span style="font-size:18px">However, the productivity of the country collapsed due to the border blockade, and the GDP growth was only 0.40% in 2015, despite the booming stock market. The low GDP growth indicated low demand in the country.</span></p> <p><span style="font-size:18px">In 2016, the GDP growth rebounded, recording a growth rate of 6.90%, the highest recorded growth in the last two decades. The political and economic situation in the country stabilized, and many new financial institutions were introduced, especially non-life and life insurance after the earthquake. </span></p> <p><span style="font-size:18px">This made the financial sector highly competitive, and to attract customers, the deposit rates started soaring, which raised the loan rates.</span></p> <p><span style="font-size:18px">The high loan rates discouraged investors from borrowing to invest in the stock market, and the return from the banking sector became comparable to the return from the stock market. This attracted institutional investors to invest in banks, as it provided a larger margin of safety. </span></p> <p><span style="font-size:18px">The capital was distributed among numerous small financials, such as microfinance and cooperatives, which impacted the liquidity of larger commercial banks. The government formed National Reconstruction Authority and expedited the reconstruction work using up huge budget to reconstruct infrastructures and individual houses destroyed by the earthquake. This led to the liquidity crisis in the banks and financial institutions, driving the loan rates high. </span></p> <p><span style="font-size:18px">The government also took measures to decrease the number of financial institutions in the country, which turned the market from the Bull to Bear in 2016. The soaring interest rates and liquidity crunch were the main reasons for the NEPSE burst in 2016. </span></p> <p><span style="font-size:18px"><strong>Exploring causes of bull and bear of 2021 </strong></span></p> <p><span style="font-size:18px">Capital market of Nepal started gaining momentum again in early 2020 and went on a bullish trend until it touched an all-time high of 3200 in the month of August 2021. Several factors played a role in pushing the NEPSE Index on a bullish trajectory.</span></p> <p><span style="font-size:18px">The COVID-19 pandemic hit the world and Nepal, and the government imposed lockdowns and restricted people's movement, leading to the shutdowns of most businesses and economic activities. This made people search for alternative ways to make money, and many new investors poured their money into the stock market. </span></p> <p><span style="font-size:18px">Additionally, the lockdowns brought development works to a grinding halt, and the price of petroleum products dwindled, reducing the cost of goods and commodities. The import of goods and commodities except daily essentials was also banned. </span></p> <p><span style="font-size:18px">Banks and financial institutions witnessed excessive liquidity for lack of loan demand, and they started flowing margin loans to investors at as low as 7 percent interest.</span></p> <p><span style="font-size:18px">However, the boom in the stock market did not last long. Various factors led to the sharp fall of the stock market, driving it down to the bearish mood. </span></p> <p><span style="font-size:18px">The Nepal Rastra Bank (NRB) tightened its monetary policy, and all banks and financial institutions were also placed under strict restrictions, effectively banning them from share trading. The NRB's austere policies caused the market correction by dislodging the confidence of large and institutionalized share traders. </span></p> <p><span style="font-size:18px">In the fiscal year 2078/79, Nepal Rastra Bank (NRB) had tightened loans against shares by introducing the credit limit of NPR 40/120 million. The central bank's policy of NPR 40/120 million credit threshold against the shares had put the share market in crisis, causing the NEPSE index to plunge. </span></p> <p><span style="font-size:18px">Moreover, the Nepalese economy experienced a significant slowdown due to the pandemic, which affected the performance of many companies listed on the stock exchange. A liquidity crunch in the banking sector, coupled with tighter monetary policies, affected investor confidence in the market. </span></p> <p><span style="font-size:18px">Inflation in Nepal has been rising since the world removed lockdowns and opened borders for import and export, eroding the purchasing power of investors and making them less willing to invest in the stock market. The Russia’s war on Ukraine has added to the woes of the customers, driving up the prices of daily essentials and petroleum products. </span></p> <p><span style="font-size:18px">The price of petroleum products surged rapidly after the pandemic, driving prices of almost everything up, lowering the investors' capacity to invest in the stock market and other areas. </span></p> <p><span style="font-size:18px">Interest rates also surged up to 19/20percent from 7/8 percent, and stock and interest rate have a negative correlation. As interest rates rose sharply, investors and people parked their money in fixed deposits because of margin of safety.</span></p> <p><span style="font-size:18px"> The bullish trend in the Nepalese stock market in 2021 was mainly driven by the pandemic-induced market disruptions, which led to excess liquidity and low-interest rates. However, the NRB's policies, the economic slowdown, the liquidity crunch, inflation, and rising interest rates led to the bearish trend in the market, causing a significant correction in the NEPSE Index. </span></p> <p><span style="font-size:18px">In summary, the NEPSE Index has had a tumultuous history since its inception, with several downs and ups, reaching its highest points in 2000, 2008, 2016, and 2021. The NEPSE Index started at 157 points in 1998 and climbed to a high of 545 points in 2000, followed by a bearish period that lasted until 2004. </span></p> <p><span style="font-size:18px">The index then gained momentum again, reaching a high of 1175 points in 2008 before tumbling to a low of 298 points in 2012. From 2016 to 2019, the market underwent significant corrections and hit a low of 1104 points in 2019. </span></p> <p><span style="font-size:18px">However, from early 2020, the NEPSE Index entered a bullish trend and reached an all-time high of around 3200 points in August 2021, However, the market sentiment turned bearish soon after, and the index has touched lows of around 1800.</span></p> <p><span style="font-size:18px">Over the past year, the NEPSE index has been fluctuating between 1800 and 2250, with the current state of the secondary market platform hovering between 1800 and 1900. </span></p> <p><span style="font-size:18px">Unfortunately, the turnover amount on the NEPSE has significantly decreased, currently standing at below NPR 1 billion, a stark contrast from the NPR 21 billion turnover witnessed when the market hit its all-time high. </span></p> <p><span style="font-size:18px">As a result, market participation has dwindled, and investors have become more passive in light of the secondary market's bearish mood. </span></p> <p><span style="font-size:18px">The current state of the market is challenging for investors, who are feeling hopeless and psychologically down. To overcome the current bearish sentiment, several challenges and obstacles need to be addressed. </span></p> <p><span style="font-size:18px">The market-friendly monetary policy of the Nepal Rastra Bank, state of liquidity, interest rates, economic growth, and political situation all play a crucial role in determining the course of the stock market. </span></p> <p><span style="font-size:18px">The sooner the NRB comes up with market-friendly policies, the faster interest rates fall, and economic growth increases, the sooner we will see another bull market in the NEPSE.</span></p> <p><span style="font-size:18px">As they say, "there is light at the end of the tunnel," and NEPSE will surely overcome all the challenges and hindrances to break the previous all-time high and make another record. </span></p> <p><span style="font-size:18px">Till then, investors have no choice but to manage their risk and wait patiently. The stock market is unpredictable, and it is important to keep a long-term perspective while investing and not panic during short-term fluctuations.</span></p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17615', 'image' => '20230517105452_bull-market.jpg', 'article_date' => '2023-05-17 10:44:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '17881', 'article_category_id' => '251', 'title' => 'Marijuana as a Medicine: Weighing Benefits and Harms', 'sub_title' => '', 'summary' => 'Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. ', 'content' => '<p> </p> <p><span style="font-size:18px">May 17: Marijuana is the most commonly consumed illegal drug in the world. Consumption of marijuana has been a topic of debate for several years, with calls for its legalization for medicinal and recreational purposes. </span></p> <p><span style="font-size:18px">The World Health Organization reported in 2016 that 4% of the global population (192 million people) consumes marijuana illegally, with 40% of Americans having taken the drug at least once in their lifetime. </span></p> <p><span style="font-size:18px">Marijuana consumption is most prevalent among males and teenagers, but its use is also growing among women. Delta-9-tetrahydrocannabinol (THC) and cannabidiol (CBD) present in Cannabis sativa, indica, and ruderalis are known to have the power to intoxicate and cause addiction.</span></p> <p><span style="font-size:18px">Marijuana is consumed in various forms and quantities, for example cannabis has about 1% and sinsemilla up to 5-6%. The plants are also used to make textiles, pickles, and drinks. </span></p> <p><span style="font-size:18px">The voices for the legalization of marijuana farming, sale, and use for entertainment and medicinal purposes are being raised worldwide, including in Nepal.</span></p> <p><span style="font-size:18px">In 2020, Nepal voted to reclassify and reconsider marijuana from Schedule IV, which includes drugs that cannot be used even for medical treatment. There has been estimation that if legalized, marijuana could generate up to NPR 146 billion by 2025, transforming the country's development. </span></p> <p><span style="font-size:18px">Apparently, there has been flood of fiery and attractive speeches, deliberations, interviews, news and articles from so-called leaders and scholars in its favor. </span></p> <p><span style="font-size:18px">However, as an expert in mental health working for over two decades, I have witnessed marijuana destroying many lives and families in all setups, including out-patient departments, wards, emergency, and other setups. </span></p> <p><span style="font-size:18px">Even today while sitting to write this article, one third of psychiatry ward patients has history of cannabis use and 23% fulfill the criteria for dependence.</span></p> <p><span style="font-size:18px"> I have seen many people losing their lives to the drug, and many families suffering for years due to the drug. But few of them including literate college students have scientific knowledge and information about it. </span></p> <p><span style="font-size:18px">They claim that marijuana is good for health and easily available. It is extremely distressing to witness the current state with the flood of ideas and arguments in its favor on one hand and my own first hand observation of devastating effects on the other. It warrants reviewing the harm and benefits of this substance as a medicine.</span></p> <p><span style="font-size:18px"> This article is an audacity based on our effort to review the benefits and harms of medicinal use of cannabis which has been published as a journal article. The author leaves the responsibility of analyzing and adopting the fact to the wise readers themselves. </span></p> <p><span style="font-size:18px">CBD present in marijuana is used as medicine to treat some health issues, including vomiting and special type of seizure. The US Food and Drug Administration has given permission to use marijuana for these two purposes. </span></p> <p><span style="font-size:18px">Claims have also been made that marijuana has a positive impact on the treatment of Parkinson's disease and multiple sclerosis, but there is no evidence to support these claims. </span></p> <p><span style="font-size:18px">While cannabis is touted to stop vomiting and treat problems in ligaments, its use is reported to have aggravated these problems to the intractable forms. </span></p> <p><span style="font-size:18px">During the COVID-19 pandemic, some chemicals in marijuana were publicized to have a positive effect on lungs, but later, they were found to have other chemicals causing serious problems in lungs, including even cancer. </span></p> <p><span style="font-size:18px">Reports have come out showing that marijuana has various types of cancer-causing chemicals more than in tobacco and cigarettes. People who take marijuana to increase their appetite for food usually have further lost their interest in food and fallen victim to malnutrition. </span></p> <p><span style="font-size:18px">Although marijuana has been mentioned in some medical literature as beneficial for the treatment of mental problems, its uses for emotional and mood disorders are not appropriate, as it may cause panic and other anxiety disorders among the users. </span></p> <p><span style="font-size:18px">Marijuana is also considered beneficial to treat mood disorders, such as depression and mania. However, those people using cannabis usually require visiting psychiatrist when they are hit severely with co-morbid depression and mania. It has also been seen in one of our recent studies. </span></p> <p><span style="font-size:18px">Using marijuana as medicine for mood disorders is, hence, not appropriate. It is common to see that people taking alcohol and other drugs often turn to marijuana and vice-versa.</span></p> <p><span style="font-size:18px">Marijuana is believed to have some benefit even in some type of psychosis. Whereas the reality is that marijuana consumption may cause the onset of serious mental problems such as psychosis, with single use of small amount, frequent or regular longstanding use.</span></p> <p><span style="font-size:18px"> For those who have genetic predisposition, it may act like a match stick. The worsening of situation and increasing prevalence of psychosis has lately increasingly been reported in countries that have legalized it and have increased marijuana consumption. </span></p> <p><span style="font-size:18px">Those who advocate for marijuana legalization argue that marijuana can be used as medicine, like opiate in the right amount. The issue of marijuana consumption is a complex one that requires a thorough analysis of its potential benefits and harms. </span></p> <p><span style="font-size:18px">Before we allow the widespread use of marijuana, it is important to carefully consider its intended purpose, the types of positive and negative effects it may have, and whether we can accurately predict its effects.</span></p> <p><span style="font-size:18px">While some argue that marijuana consumption has potential therapeutic benefits, evidence shows that it can have more harms than good sides. </span></p> <p><span style="font-size:18px">There is an established evidence to show the harms of marijuana. But, we are yet to receive the evidence to substantiate its positive side. Reports suggest that its use may cause death by obstructing the heartbeat and lead to psychosis.</span></p> <p><span style="font-size:18px"> Studies have also shown that marijuana can have serious impacts not only on frequent users but also on one-time users.Moreover, since marijuana is plant-based rather than a medicine, its quantity is extremely variable and unpredictable and it has some impurities in products in reality as well. </span></p> <p><span style="font-size:18px">Legalization may result in uncontrolled use of the drug, leading to severe outcomes, also raising false impression among common people about its benefits. Therefore, it is crucial to implement strict regulations and to educate the general public, students, teachers, and parents on the potential risks of using marijuana.</span></p> <p><span style="font-size:18px">However, a complete ban on marijuana and legal restrictions may not be the solution. Such measures may create a black market, cause the state to lose revenue, and increase criminal activity.</span></p> <p><span style="font-size:18px"> Instead, we need to promote scientific research studies, update existing laws based on scientific evidence, and aim to promote public health and awareness of policies.</span></p> <p><span style="font-size:18px">As a country with ignorance, poverty, weak governance, and a backward economy, Nepal must be vigilant when observing other countries' stance on marijuana legalization. We must not blindly follow their example but make decisions based on our specific circumstances.</span></p> <p><span style="font-size:18px">Therefore, if you hear someone say or see an advertisement claiming that "marijuana is a wonder drug," it is important to verify the facts and think twice before using it. We must analyze the available evidence thoroughly before making any decision regarding its use.</span></p> <p><span style="font-size:18px">Prof. Dr. Dhana Ratna Shakya is Head at the Department of Psychiatry <br /> in B. P. Koirala Institute of Health Sciences (BPKIHS), Dharan, Nepal. </span></p> <p><br /> </p> ', 'published' => true, 'created' => '2023-05-17', 'modified' => '2023-05-17', 'keywords' => '', 'description' => '', 'sortorder' => '17612', 'image' => '20230517062400_collage (1).jpg', 'article_date' => '2023-05-17 06:09:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '17833', 'article_category_id' => '251', 'title' => 'Nepal: A Laboratory for Political Experimentation ', 'sub_title' => '', 'summary' => 'Nepal has been a laboratory for different parties and institution to experiment their system of government and ideologies for much of its modern history. It is high time we avoid experimenting with another political set-up. ', 'content' => '<p> </p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">May 11: Nepal, a small landlocked country sandwiched between India and China, has been a political laboratory for much of its modern history. From the early 1900s to the present day, Nepal has experimented with various governance system, and political ideologies in its quest to establish a stable and prosperous society. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Corruption, irregularities, lack of inclusivity, monopoly over resources and myopic leadership have led to the frequent shift of political power and governance model, making the country a testing ground of political forces and centuries-old institution of monarchy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Rana regime in Nepal, also known as the Rana dynasty, was an autocratic regime that lasted from 1846 to 1951. The Ranas were a powerful noble family who held de facto control over the government of Nepal during this period, with the titular king serving as a figurehead. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas were able to maintain their grip on power through a combination of military force, political manipulation, and suppression of dissent. Under the Rana regime, there was little to no political freedom or democratic participation, and civil liberties were severely restricted. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Ranas implemented a strict caste-based social hierarchy, with themselves at the top, and the majority of the population subjected to various forms of discrimination and exploitation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1951, a popular uprising led to the downfall of the Rana regime. Then, Nepal held democratic elections in 1959 and Nepali Congress won the polls. With the holding of the polls, Nepal adopted a parliamentary system of governance. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Unfortunately, the government led by NC’s BP Koirala did not last long then King Mahendra dissolved the parliament in 1960 citing corruption, political instability and Nepal being too close to India. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Mahendra established a party-less system of governance, known as the Panchayat system. Under this system, power was centralized, and political parties were banned. Power was oncentrated in the hands of the King and his appointed officials.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The King acted as the ultimate authority, and all decisions were made by him and his close advisors. There was little scope for democratic participation, and the people had limited say in the governance of the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During the Panchayat period, Nepal saw some progress in economic development, education, and infrastructure. However, there was also widespread corruption, political repression, and human rights abuses. Political dissent was not tolerated, and opposition leaders, activists, and journalists were often arrested and tortured.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">During 1990s, the wave of democracy was sweeping across the world and Nepal was not left untouched by the spillover of the democratic wave. Two political parties- Nepali Congress and Leftist parties campaigned for the restoration of democracy in in hush-hush manner in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Panchayat system came to an end in 1990, following a pro-democracy movement led by political parties, intellectuals, and students. The movement culminated in a peaceful revolution, which forced King Birendra to accept a new democratic constitution that established a multi-party system of governance.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In 1990, late King Birendra agreed to hold elections and establish a constitutional monarchy with a parliamentary system of governance. The Nepali Congress Party won the democratic elections in 1991, and a new constitution was adopted in 1991, marking the beginning of Nepal's second experiment with democratic form of the government. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The democratic experiment of the 1990s was marked by political instability, corruption, and ethnic tensions. People’s hopes for development and good governance were dashed away. The Nepali Congress Party was plagued by infighting and corruption allegations, leading to a loss of public confidence. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Meanwhile, ethnic and regional tensions simmered beneath the surface, with marginalized communities demanding greater political representation and autonomy. Failure of Nepali Congress to guide the country to the path of development, prosperity and good governance caused the frequent changes of the governments. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">In October 2002, King Gyanendra dissolved the Parliament and he appointed a series of prime ministers. In February 2005 he dismissed the Prime Minister and cabinet and assumed direct power through a coup. Initially, public had given king a benefit of doubt, fed up with parties and successive governments’ failure to deliver services to them. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">As time passed by, king started showing his true colour by appointing corrupt former royalists and bootlickers to the Cabinet. Human rights violations, censorship on press freedom and corruption made people believe that king was no longer a fitful person to address people’s problems and burning then problem of Maoist insurgency. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Even supporters of the king quickly turned into fierce critics because of his authoritarian grip over the government and restrictions placed on people’s lives. As a result, the royal coup was met with widespread protests and civil disobedience calling for democracy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royal coup was followed by a decade-long Maoist insurgency, which began in 1996 and ended in 2006. The Maoists, led by Pushpa Kamal Dahal Prachanda, inspired by China’s Mao Zedong and his philosophy, had waged the insurgency for the establishment of a republic and the overthrow of the monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The insurgency was marked by violence, human rights abuses, and political instability, with the Maoists carrying out attacks on government installations, civilians, and security forces. The insurgency lasted for a decade and claimed the lives of over 16,000 people, until a peace agreement was reached in 2006.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The post-peace agreement was marked by significant political changes. The 240-year-old monarchy was officially abolished in Nepal on May 28, 2008, when the Constituent Assembly declared Nepal a Federal Democratic Republic. Nepal adopted a new constitution in 2015. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These changes aimed to address the country's longstanding political and social issues, including the marginalization of ethnic and religious minorities, the centralization of power, and the lack of economic opportunities. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The adoption of the new constitution in 2015 recognized the rights of marginalized communities and established Nepal as a secular, federal democratic republic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Nepal's political experimentation has not only been limited to the establishment of new political systems and the adoption of new constitutions. The country has also undergone ideological shifts, with various political parties and groups espousing different ideologies, including communism, democracy, and monarchy.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Maoist) emerged as a major political force in the country during the insurgency, advocating for a communist state. However, following the peace agreement, the party entered mainstream politics and has since moderated its stance, forming alliances with other political parties. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Nepali Congress Party, founded in 1947, has been a prominent force in Nepali politics, advocating for democracy and liberal values. The party played a key role in the restoration of democracy in 1990 and has formed multiple governments since then.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The Communist Party of Nepal (Unified Marxist-Leninist) is another prominent political party in Nepal, advocating for socialism and secularism. The party has formed multiple governments since the establishment of the federal democratic republic in 2008 and has played a key role in the drafting and adoption of the new constitution.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">After parliamentary polls of 2022 and by-polls of 2023, the Rastriya Swotantra Party has emerged as a potent political force, gaining the support of voters who have grown disillusioned with the corruption, irregularities, and lack of good governance that have plagued the traditional major parties, namely Nepali Congress, CPN-UML, and CPN-Maoist Center. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Comprised mainly of youthful members from various sectors and parties, the new party won 21 seats in the House of Representatives, and many predict that it will emerge as the single largest party in the next general elections in five years. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Despite the party's popularity, it has not clearly articulated its political agenda. The Rastriya Swotantra Party has yet to state its stance on crucial issues such as the federal set-up, the country's economic model, secularism, and the democratic republic. This lack of clarity has left many people skeptical about the party's future path if it does win the polls after five years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">Moreover, the Rastriya Prajatantra Party, a party of former royals, has also made significant gains from the 2022 polls. The party's political agenda is clear: they aim to restore the monarchy and make former king Gyanendra the ceremonial head of the state. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">The royalist party has been organizing civil felicitations for former king Gyanendra Shah in various parts of the country and a section of people are hell-bent on reviving the role of overthrown monarchy in one or another way. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These recent developments and widespread corruption, economic downturn, and inadequate service delivery by the government, coupled with financial anomalies and a lack of employment opportunities, have caused growing anger and frustration among the people. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">These factors have raised concerns that Nepal may be heading towards another period of political instability, resulting in the experimentation of another political structure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman",serif">It is therefore crucial that Nepali politicians and citizens remain vigilant to keep democratic political model intact to avoid testing of another political ideology and government system. </span></span></p> ', 'published' => true, 'created' => '2023-05-11', 'modified' => '2023-05-11', 'keywords' => '', 'description' => '', 'sortorder' => '17564', 'image' => '20230511014522_collage (15) (1).jpg', 'article_date' => '2023-05-11 13:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
