Khabarhub brings you a glimpse of major developments of the day in Nepal, including politics, business/economy, sports, entertainment, and more.
HoR meeting postponed amid political standoff
Parliamentary proceedings have ground to a halt amidst a standoff between ruling and opposition factions. The Nepali Congress, the main opposition, and ruling parties, have been embroiled in a dispute over alleged fraud within a cooperative leading to the postponement of the HoR meeting until Sunday. Initially adjourned until 11 a.m. on Friday following a heated exchange between MPs on Thursday, the meeting was further delayed to 2 p.m. due to unresolved tensions.
PM Dahal, NC leaders meeting scheduled for Friday evening postponed
The scheduled discussion between Prime Minister Pushpa Kamal Dahal ‘Prachanda’ and the top leaders of the main opposition, Nepali Congress (NC), on Friday evening has been postponed. The deliberations, which were planned to take place amid ongoing parliamentary deadlock as part of the efforts to end the stalemate, have been put on hold. NC Chief Whip Ramesh Lekhak confirmed the postponement of the discussion with the Prime Minister. However, he did not disclose the reason behind it.
Newly appointed Ministers of Koshi swear into office on Friday
The newly appointed ministers of Koshi were sworn into office on Friday. Earlier, Chief Minister Hikmat Kumar Karki expanded the Koshi province cabinet to 10 members. The cabinet consists of six members from the CPN-UML, including the Chief Minister, and four from the CPN-Maoist Center.
UML Chair Oli criticizes NC for disrespectful behavior in Parliament
KP Oli, Chairman of the CPN-UML party, condemned the Nepali Congress (NC) for their discourteous conduct during Thursday’s House of Representatives (HoR) session. Speaking briefly to the media at the Federal Parliament premises in New Baneswor on Friday, Oli emphasized that Parliament is not a venue for conflict. He also expressed his dismay at the Nepali Congress’s attitude towards journalists.
Monetary Policy Review: NRB reduces risk weightage of vehicle loans
The Nepal Rastra Bank (NRB), in its third-quarter review of the monetary policy for the fiscal year 2023/24, has reduced the risk weightage for vehicle loans. In the review, the risk weightage on hire purchase loans provided by banks and financial institutions has been decreased from 125 percent to 100 percent. Additionally, the NRB has introduced a provision allowing for the extension of home purchase loans based on the Debt Service to Gross Income Ratio, increasing it from the current 50 percent to 70 percent, provided appropriate evidence is presented.
NA meeting postponed amid opposition obstruction
The meeting of the National Assembly (NA) has been postponed until 1:15 PM on Sunday due to obstruction by the main opposition party, Nepali Congress. Nepali Congress disrupted the meeting shortly after it began on Friday. In response, Speaker Narayan Dahal announced the rescheduling for Sunday.
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