KATHMANDU: In a week marked by high-level dialogue and deepening domestic turbulence, Nepal found itself balancing global leadership aspirations with internal accountability struggles.
The launch of the Sagarmatha Sambaad in Kathmandu spotlighted Nepal’s diplomatic effort to champion climate justice for mountain nations, even as fresh corruption charges against prominent political figures—including lawmakers Mohan Bahadur Basnet and Maya Rai—shook the public’s trust in governance.
Meanwhile, institutional developments such as SEBON’s SME regulations, the Supreme Court’s greenlight for the Pathibhara cable car project, and ride-sharing legalization in Gandaki Province reflected the country’s push for economic modernization amidst political dissonance and growing calls for transparency.
Sagarmatha Sambaad: Climate diplomacy meets Himalayan urgency
Last week’s most prominent event was the opening of the Sagarmatha Sambaad, Nepal’s ambitious foray into global climate diplomacy. The forum, themed “Climate Change: Mountains and the Future of Humanity,” brought together delegates from over 40 countries in Kathmandu to spotlight the existential threats facing mountain and island nations.
Prime Minister KP Sharma Oli used the platform to position Nepal as a moral leader on climate issues, stressing that “saving mountains is saving humanity.” While the rhetoric was lofty, the challenge lies in translating dialogue into action.
The event, held just ahead of COP29, strategically reinforces Nepal’s voice in the global climate narrative—but it also raises the question: can Nepal sustain such leadership with its fragile internal governance and weak climate resilience mechanisms?
The Sambaad’s success will largely depend on whether it triggers lasting international collaboration and compels Nepal to improve domestic climate adaptation policies, which remain under-resourced and fragmented.
RPP leader Mishra released after Supreme Court order
Last week, the Supreme Court ordered the release of Rabindra Mishra, senior vice-chairman of the Rastriya Prajatantra Party. The decision came from a joint bench of Justices Kumar Chudal and Til Prasad Shrestha, according to Supreme Court Information Officer Nirajan Pandey.
Mishra was arrested on March 28 in connection with a violent protest staged by royalist supporters in Tinkune, Kathmandu. He had been under investigation for alleged involvement in the unrest, with authorities reportedly preparing to file charges including criminal mischief, offenses against the state, and organized crime.
Corruption clouds deepen around Nepali Congress
In stark contrast to the moral posturing at Sagarmatha Sambaad, domestic politics offered a grim reminder of Nepal’s enduring governance challenges. Two major corruption scandals involving Nepali Congress lawmakers—Mohan Bahadur Basnet and Maya Rai—surfaced within days.
Basnet’s suspension over the Teramox telecommunications fraud marks a high-profile fall, while Maya Rai’s indictment in the Suryadarshan Cooperative scam adds to the party’s deepening credibility crisis. These cases not only tarnish the Congress’s reputation but also signal growing momentum within anti-graft agencies like the CIAA.
Yet, the timing and selective prosecution also point to underlying political rivalries. As corruption becomes a tool for political leverage rather than genuine reform, public faith in accountability mechanisms remains fragile.
Institutional assertiveness: Judiciary and executive in motion
Amid the noise of scandal, some institutional movements stood out. The Supreme Court’s clearance for the Pathibhara cable car project broke a deadlock over cultural sensitivities versus economic utility, signaling the judiciary’s increasing assertiveness in development-related cases.
Meanwhile, Mayor Balen Shah’s dramatic reshuffle of Kathmandu’s municipal leadership, including the ouster of spokesperson Nabin Manandhar, revealed internal fractures within local governance. Balen’s decisiveness may appeal to his base, but the episode underscores tensions between populist mayors and bureaucratic structures.
The Auditor General’s report further highlighted persistent irregularities in public finance, with President Ram Chandra Paudel calling it a “wake-up call.” But as in years past, such calls may be archived rather than acted upon unless institutional coordination improves.
Policy shifts and market inertia: SEBON and NEPSE in disconnect
In the economic sphere, the Securities Board of Nepal (SEBON) released long-awaited SME securities regulations. This should have marked a breakthrough for small business financing. Instead, NEPSE’s refusal to endorse the enabling bylaws reveals a frustrating disconnect between policy formulation and execution.
Nepal’s capital market development remains sluggish, trapped between bureaucratic inertia and institutional misalignment. The SME platform, if implemented, could democratize investment and energize provincial economies—but only if NEPSE and SEBON align on operational priorities.
Tax and investment: Budget-season negotiations heat up
With the budget season approaching, Finance Minister Barsha Man Pun’s consultations with the private sector reflect the government’s push to craft more investment-friendly tax policies. This is a recurring ritual with little breakthrough so far, but mounting pressure from businesses this year—amid economic slowdown and liquidity crunch—may force more substantive reforms.
However, whether the government can balance revenue needs with private sector incentives remains uncertain, especially as political instability undercuts long-term economic vision.
Other signals from the periphery: Rights, rituals, and livelihoods
The legalization of ride-sharing in Gandaki Province offers a rare instance of subnational policy innovation, recognizing informal digital labor and easing urban mobility. It sets a precedent other provinces may follow.
The revised cheque bounce law, with stricter timeframes and penalties, aims to curb banking malpractice—but also risks harming genuine borrowers if not implemented with nuance.
The Yarsagumba harvesting season in Myagdi and the royalty surge from spring mountaineering reaffirm Nepal’s dependence on extractive high-altitude economies, still unregulated and vulnerable to exploitation and environmental degradation.
Celebrations of Buddha Jayanti and the court’s intervention in the Pathibhara project also highlight the recurring tension between heritage, tourism, and modernization.
Conclusion: A week of paradoxes
Nepal, last week, stood at a curious crossroads: hosting a major international forum on global cooperation while battling localized corruption scandals and institutional disarray. The juxtaposition of climate idealism with domestic political erosion encapsulates the broader paradox of Nepal’s governance—aspirational in speech, dysfunctional in delivery.
Whether events like Sagarmatha Sambaad can ignite a deeper transformation or simply serve as rhetorical milestones will depend on how seriously Nepal reforms its institutions and embraces transparency, inclusivity, and long-term planning. For now, it remains a nation striving for high peaks, both metaphorical and literal, but still burdened by the weight of its own contradictions.
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