General News
Nepal Secures Thrilling Victory Against Afghanistan in Asian Games Cricket, Boosts Medal Hopes
Nepal has delivered a remarkable performance at the 20th Asian Games in Japan, securing a thrilling five-wicket victory over strong contenders Afghanistan in the men's T20 cricket competition. This significant win not only marks a pivotal moment in Nepal's campaign but also substantially bolsters the nation's aspirations for a medal in the prestigious multi-sport event. The match, characterized by its intense drama and strategic play, captivated audiences and showcased the burgeoning talent within Nepali cricket. Winning the toss, Afghanistan elected to bat first, a decision that initially seemed strategic on a pitch that offered a balance between bat and ball. However, the Nepali bowlers, demonstrating exceptional discipline and tactical prowess from the outset, quickly put Afghanistan under immense pressure. The powerplay overs proved particularly challenging for the Afghan top order, as they struggled to find rhythm and lost crucial wickets, preventing them from establishing a strong foundation for a formidable total. The tight bowling by Nepal's spin maestro Lalit Rajbanshi and the versatile all-rounder Kushal Bhurtel was instrumental in stifling Afghanistan's middle order. Their ability to maintain a restrictive line and length, coupled with intelligent variations, denied the Afghan batsmen the opportunity to accelerate the scoring rate, ultimately restricting them to a chaseable target. In pursuit of the target, Nepal's opening batsmen provided a composed and steady start, laying a crucial groundwork for the chase. Despite the inherent pressure of a high-stakes encounter, the middle-order batsmen displayed commendable responsibility and maturity. They navigated through challenging phases, building vital partnerships and ensuring that the required run rate remained manageable. Their calculated aggression and astute shot selection in the crucial final overs propelled Nepal towards victory, culminating in a triumphant finish that sent waves of excitement through the Nepali contingent and its supporters. This victory is more than just a win; it is a testament to the relentless dedication and rapid development of Nepali cricket on the international stage. Over recent years, Nepal's national cricket team has consistently demonstrated its potential, overcoming numerous challenges to compete with established cricketing nations. Such performances at major tournaments like the Asian Games are crucial for elevating the sport's profile within the country, inspiring a new generation of athletes, and attracting further investment in cricketing infrastructure and talent development. The team's journey, often marked by limited resources but boundless passion, resonates deeply with the national spirit, making every international success a source of immense national pride. This triumph against a formidable team like Afghanistan underscores Nepal's growing stature in the cricketing world and its capability to challenge higher-ranked opponents. The positive momentum generated by this win could have broader implications, subtly influencing national sentiment and potentially fostering a more optimistic outlook, which can indirectly contribute to a stable environment for economic activities. While not directly financial news, national achievements in sports can boost morale and national identity, elements that contribute to overall societal well-being. For investors, a nation that performs well on the global stage, whether in sports or other sectors, often projects an image of dynamism and capability. This victory strengthens Nepal's position in the Asian Games cricket tournament, significantly enhancing its prospects of securing a coveted medal, a feat that would be celebrated across the nation and further cement Nepal's reputation as a rising force in international sports. Separately, for the investor community, it is important to note that the Nepali stock market (NEPSE) will observe a public holiday on Ashoj 5 (Monday), and consequently, trading activities will remain closed on that day. This information, while distinct from the sports report, is crucial for market participants to plan their investment activities accordingly.
Youth-Led 'Hunkar Madhesh' Campaign Launched to Forge Alternative Political Force
A new political movement, 'Hunkar Madhesh' (Roar of Madhesh), has been officially launched by a collective of young individuals who have disassociated themselves from various established political parties. The campaign, announced recently in Kathmandu, aims to construct an alternative political force grounded in fresh ideas, dedicated to the betterment of both the nation and the Madhesh region. This initiative seeks to lay the groundwork for a robust political organization and cultivate a new generation of capable and qualified youth leadership. The core objectives of the 'Hunkar Madhesh' campaign are multifaceted. At its heart is the ambition to re-engage the younger generation in the political process, countering the prevailing disillusionment that has often deterred bright minds from public service. Speaking at the launch event, Keshav Jha, a prominent figure who recently departed from the Rastriya Mukti Party Nepal, articulated the campaign's vision. Jha critically observed that the widespread perception of politics as a 'dirty game' has unfortunately driven away many capable and learned individuals, leaving a vacuum in leadership that the campaign intends to fill. Jha further elaborated on the philosophical underpinnings of their movement, drawing parallels to ancient wisdom. He invoked the classical notion, often attributed to Plato, that political leadership should ideally reside with philosophers or the most knowledgeable individuals within society. He lamented the current state of affairs in Nepal, where, in his view, leadership is often assumed by those he metaphorically referred to as 'backbenchers,' rather than the most intellectually astute or morally upright citizens. This perceived disconnect, according to Jha, has led to a significant erosion of public trust and widespread disillusionment with the political system. The genesis of the 'Hunkar Madhesh' campaign also stems from a practical political reality. Jha revealed that the group's proposal to form a unified front with existing Madhesh-centric political parties was not accepted. This rejection underscored the need for an entirely new platform, one that could genuinely represent the aspirations of the youth and the Madhesh region without being constrained by the limitations or established practices of older parties. The campaign firmly believes that political leadership must be restored to its rightful place of respect and integrity, guided by individuals who are not only knowledgeable and educated but also self-reliant and committed to public welfare. For investors and those observing Nepal's economic landscape, the emergence of such a youth-led political movement holds significant implications. Political stability, good governance, and effective leadership are foundational pillars for a thriving economy and a predictable investment environment. A campaign focused on attracting capable individuals to politics and reforming the system could, in the long run, contribute to a more transparent and efficient policy-making process, which is crucial for business confidence and economic growth. The Madhesh region, being a vital economic corridor and agricultural hub, stands to benefit immensely from stable and effective political representation. Any movement that promises to bring about positive change in regional governance and foster greater youth participation could indirectly lead to improved infrastructure development, better resource management, and enhanced economic opportunities, thereby creating a more favorable climate for both domestic and foreign investment. The 'Hunkar Madhesh' campaign, therefore, represents a potential force for political rejuvenation, whose trajectory will be closely watched for its broader impact on Nepal's socio-political and economic future.
PM Balen Shah's Iconic Black Glasses Spark International Discussion at UNGA
Prime Minister Balen Shah's recent address at the United Nations General Assembly (UNGA) in New York not only drew attention to Nepal's stance on critical global issues but also inadvertently highlighted a unique and now internationally recognized aspect of his public persona: his signature black glasses. This distinctive accessory, which has become synonymous with Shah's image, has now transcended national borders, sparking discussions in prominent international media outlets. During his address on Friday, Prime Minister Shah maintained his characteristic look, donning the black glasses that have been a consistent feature of his public appearances since his rise to prominence. This choice did not go unnoticed by the global press, particularly by the esteemed American newspaper, The New York Times. The publication featured Shah's UNGA visit and his political identity, specifically drawing attention to his black glasses. The report noted how the 36-year-old Prime Minister has cultivated a unique identity through this simple yet powerful visual cue. This recognition by a major international newspaper underscores the growing global interest in Nepal's unconventional leader and the subtle nuances of his public image. The international fascination with Shah's eyewear is not an entirely new phenomenon. Earlier, Al Jazeera, another influential global news network, had also reported on the trend-setting impact of Shah's black glasses, noting their emergence as a fashion symbol among Nepali youth. This observation highlights the cultural resonance of Shah's style, demonstrating how his personal branding extends beyond political circles into broader societal trends and youth culture. From his tenure as the Mayor of Kathmandu, Balen Shah's black glasses have consistently captured public attention, becoming a recognizable part of his political narrative. What began as a local talking point has now evolved into an international discussion, reaching the prestigious platform of the United Nations General Assembly. This trajectory illustrates the power of consistent personal branding, especially for a leader who has risen to prominence through an unconventional path, often challenging traditional political norms and appealing directly to a younger demographic. In an era dominated by visual media and social platforms, a leader's personal style can play a significant role in shaping public perception and fostering a distinct identity. For Prime Minister Shah, his black glasses have become more than just an accessory; they are a visual metaphor for his modern, youthful, and perhaps even enigmatic approach to leadership. This deliberate or unconscious branding helps him stand out, conveying a sense of confidence and individuality that resonates with a significant segment of the population, particularly the youth who often seek out authentic and unconventional figures. The international media's focus on such a detail also reflects a broader interest in the personalities behind political roles. It suggests a curiosity about leaders who deviate from conventional appearances, offering a glimpse into their character and the cultural context they represent. For Nepal, this attention, even if focused on a seemingly minor detail, contributes to its visibility on the global stage. It presents a modern image of the nation, led by a young, charismatic figure whose unique style is recognized and discussed internationally. This kind of soft power, derived from cultural and personal influence, can subtly enhance a nation's global standing and appeal, attracting interest beyond traditional diplomatic channels. In conclusion, Prime Minister Balen Shah's black glasses have evolved from a local fashion statement to an internationally recognized symbol of his political identity. Their discussion in global media outlets like The New York Times and Al Jazeera underscores the impact of personal branding in contemporary politics and highlights how a distinctive visual element can contribute to a leader's unique narrative on the world stage, subtly influencing perceptions of both the individual and the nation they represent.
PM Balen Shah Urges Global Climate Action at UNGA, Calls for Himalayan Climate Resilience Mechanism
Nepal’s Prime Minister Balen Shah has called for stronger international action on climate change, greater climate financing and enhanced cooperation among Himalayan countries, warning that climate-induced disasters are increasingly threatening development, livelihoods and human security. Addressing the 81st United Nations General Assembly (UNGA), Shah said the recent devastating floods in Nepal’s Himalayan region should be viewed not merely as a national disaster but as a warning to the international community about the accelerating impacts of climate change. He said Nepal, despite contributing less than 0.1 percent of global greenhouse gas emissions, is facing severe consequences from a changing climate, including shrinking glaciers, unstable mountain slopes, unpredictable river flows and increasingly destructive disasters. Referring to the floods along the Bhotekoshi and Trishuli river systems, Shah said the disaster caused widespread loss of lives, infrastructure and livelihoods. He highlighted the plight of families searching for missing relatives, communities affected by debris and floodwaters, and infrastructure including bridges, roads, schools and homes that were destroyed within minutes. According to the speech, at least 1,400 people were killed, and more than 6,000 remained missing, while preliminary estimates indicated that physical recovery alone could require resources equivalent to around 10 percent of Nepal’s GDP. Shah said Nepal would once again seek international solidarity and support for recovery and reconstruction, drawing a parallel with the assistance received following the 2015 Gorkha earthquake. He also expressed gratitude to India, China, other friendly countries, the United Nations system, humanitarian agencies, philanthropic organizations and people around the world for their support following the floods. Shah stressed that the impact of climate change extends beyond national boundaries. He said the floods affected areas on both sides of the Nepal-China border before flowing downstream toward India, demonstrating that climate-related disasters require cross-border cooperation. “Climate change does not recognize borders,” Shah said, emphasizing that glaciers and floods do not travel with visas or passports. He linked rising temperatures to the destabilization of sensitive Himalayan ecosystems, including melting permafrost, unstable mountain slopes, landslides, avalanches and glacial and riverine flooding. As a key proposal, Shah called for the establishment of a “Himalayan Climate Resilience Mechanism” led by Nepal, India and China. The proposed mechanism would facilitate the exchange of satellite data and technical expertise, monitoring of potentially dangerous glacial lakes, strengthening of joint early-warning systems and coordinated cross-border responses during disasters. Shah said the Himalayan region should become a platform for international cooperation rather than a boundary divided by fragmented information systems. He noted that the Hindu Kush Himalayan region is home to nearly two billion people and provides water, ecosystems, agriculture and livelihoods to populations far beyond Nepal’s borders. “The Himalayas are not merely the periphery of the Earth; they are a life-support system for the planet,” he said. Shah argued that climate justice should translate into concrete action rather than remain limited to international declarations. Referring to the principle of Common But Differentiated Responsibilities and Respective Capabilities (CBDR-RC) under the UN climate framework, he said countries with greater historical contributions to the climate problem and greater capacity to respond should do more. He called for greater grant-based international assistance for vulnerable developing countries, arguing that climate disasters should not force poorer countries to take on additional debt to rebuild infrastructure destroyed by climate-related events. Shah also criticized the current scale and accessibility of international climate financing, saying mechanisms such as the Loss and Damage Fund and the Global Environment Facility (GEF) remain insufficient. He called for climate finance systems that allow vulnerable countries to access assistance more quickly during emergencies. Shah outlined six key priorities for responding to climate-induced disasters:a. Reliefb. Rehabilitationc. Reconstructiond. Responsibilitye. Reparationf. Resilience He said the first three are essential immediately after disasters, while the latter three are necessary to prevent climate disasters from becoming a permanent cycle for vulnerable countries. Despite being a least developed country, Shah said Nepal has been making significant contributions to environmental protection and climate action. He highlighted the restoration of forest cover across nearly half of Nepal’s territory, expansion of hydropower to meet domestic clean-energy requirements and replace fossil-fuel-based energy in neighboring markets, and promotion of electric transportation. He also emphasized efforts to strengthen climate adaptation capacity at the local level and improve Nepal’s ability to respond to increasingly frequent and severe climate disasters. Beyond climate change, Shah used his UNGA address to call for reforms in the international system and a fairer global economic order. Referring to the UNDP’s 1994 Human Development Report and its concept of human security, he said security should be understood not only in terms of territory and military strength but also in terms of people's access to development and freedom from fear and deprivation. He pointed to challenges faced by ordinary people in accessing essential goods such as agricultural fertilizer, fuel and other supplies, contrasting these difficulties with the speed at which military equipment can move across borders. Shah argued that the global system has developed highly efficient supply chains for warfare while failing to ensure equally reliable access to essential goods and livelihoods. Shah reaffirmed Nepal’s commitment to multilateralism and said the United Nations should remain a platform where smaller and poorer countries can have their voices heard. He said climate justice involves not only financial transfers but also distributive justice, concerning who bears the costs of climate change, and procedural justice, concerning whose voices are included in decision-making. He particularly highlighted the interests of Himalayan communities, small island developing states, landlocked countries, least developed countries and future generations. He said Nepal was prepared to lead discussions on these issues through the “Sagarmatha to Sea” programme scheduled to take place at the United Nations. Shah also highlighted his government's domestic priorities, including creating decent employment, strengthening social security and ensuring equal opportunities for Nepalis to prosper within their own country. He said the recent floods should be viewed as an indication of what a future of increasingly extreme climate events could look like. He called for a shift from ad hoc disaster response toward a culture of preparedness, with greater investment in resilience, insurance, innovation, stronger infrastructure and institutions, and reduced dependence on fossil fuels. He also called for systems capable of providing early warnings and protecting lives before disasters strike. Concluding his address, Shah urged the international community to listen when warnings emerge from the “roof of the world,” and act before climate-related disasters become even more destructive. He ended his address with a message invoking Lord Pashupatinath and the teachings of Buddha, wishing for global peace and welfare.
NEPSE to Remain Closed Today, Govt Declares Public Holiday on The Occasion of Indra Jatra
The Government of Nepal has declared a public holiday for today, Friday, 9th Ashwin, to celebrate the 'Indra Jatra' festival of the Newar community. Nepal Stock Exchange Limited (NEPSE) will remain closed in observance of Indra Jatra, with regular trading set to resume from 11:00 AM on 12th Ashwin, 2083. Indra Jatra, also known as Yenya, is the largest religious street festival in Kathmandu. It features two main events: Indra Jatra and Kumari Jatra, celebrated with masked dances of deities and demons, along with the display of sacred images and tableaus honoring Indra, the king of heaven.
Nepal Rastra Bank Cuts Minimum Share Holding Period to 45 Days, Keeps Countercyclical Buffer at Zero
Nepal Rastra Bank (NRB) has introduced significant changes to the investment and capital-related provisions applicable to banks and financial institutions, reducing the minimum holding period for investments in shares and debentures from six months to 45 days. The changes have been incorporated into the Unified Directive, 2082 issued for Class ‘A’, ‘B’ and ‘C’ licensed banks and financial institutions. The NRB’s Banks and Financial Institutions Regulation Department issued the circular under the authority granted by Section 79 of the Nepal Rastra Bank Act, 2058. Under the revised provision, banks and financial institutions investing in the shares and debentures of organized institutions that have issued shares to the general public and are listed on the securities exchange will now be required to hold such investments for a minimum of 45 days. Previously, banks and financial institutions were required to hold such investments for at least six months. The revised provision provides greater flexibility for banks to manage their securities portfolios and respond to market conditions. However, the NRB has retained the restriction against making short-term investments in shares and debentures of organized institutions through any arrangement intended to circumvent the prescribed holding period. The change is expected to provide institutional investors with greater flexibility in portfolio management while maintaining safeguards against excessive speculative trading. The NRB has also maintained the countercyclical capital buffer at zero percent for commercial banks for the fiscal year 2083/84. With the buffer maintained at zero, commercial banks will not face an additional capital requirement under this provision. The arrangement allows banks to utilize their existing capital resources for lending and investment in productive sectors, particularly at a time when credit demand remains relatively subdued. Alongside the shorter holding period, the central bank has strengthened the risk-management framework governing banks’ investments in securities. Banks and financial institutions investing in government securities, NRB bonds, shares, debentures and other financial instruments must formulate a clear investment policy and procedure aimed at minimizing speculative risk. The policy must be approved by the institution’s board of directors before implementation. The policy is required to clearly outline the objectives and strategies of investment, scope of investment, prohibited investments, holding periods, and procedures for managing conflicts of interest. It must also specify the basis for classifying investments between the banking book and trading book, along with appropriate risk-management measures, including stop-loss provisions. The revised directive has also introduced stronger monitoring requirements for investment portfolios. Banks are required to implement systems for daily mark-to-market valuation, stress testing, and internal risk rating to assess and manage risks arising from investment activities. The measures are intended to ensure that banks continuously monitor changes in the market value and risk profile of their investment portfolios rather than relying solely on periodic assessments. To improve transparency in investment reporting, the NRB has introduced separate monthly reporting formats for investments classified under the banking book and trading book. Banks and financial institutions must submit their approved investment policies, procedures and investment-related details to the NRB’s Supervision Department in the prescribed formats. The revised framework therefore combines a shorter minimum holding period with tighter governance, disclosure and risk-management requirements. The reduction of the minimum holding period from six months to 45 days gives banks greater flexibility to manage their securities investments according to market conditions. It may also allow financial institutions to realize gains relatively sooner and diversify income sources through securities investments when demand for loans is weak. At the same time, the NRB has retained safeguards intended to prevent excessive speculation and ensure that securities investments remain within an institutionally approved risk-management framework. With the countercyclical buffer remaining at zero percent and the minimum holding period reduced to 45 days, the latest amendments provide banks with greater flexibility in capital deployment and securities portfolio management while placing continued emphasis on board-level oversight and risk controls.
Former President Bidya Devi Bhandari Assumes Senior Leadership Role in CPN (UML) Amidst Key Party Decisions
Kathmandu, Nepal – In a significant political development, the Communist Party of Nepal (Unified Marxist-Leninist) (CPN-UML) has officially appointed former President Bidya Devi Bhandari as a senior leader of the party. This decision, which marks her return to active party politics following her tenure as head of state, was formally approved by the party's Central Committee meeting held in Lalitpur, following a proposal from the party secretariat on Thursday at its central office in Chyasal. Secretary Padma Aryal elaborated on the rationale behind this pivotal decision, stating that it was deemed inappropriate to keep such an esteemed personality without a formal responsibility after she had been granted party membership. Bhandari, who served two terms as Nepal's President from 2015 to 2023, had initially applied for party membership even before the CPN-UML's 11th general convention. At that time, the party had deliberated on the appropriateness of a former head of state re-entering open partisan politics, considering the dignified nature of the presidential office. However, Bhandari asserted her right as a citizen to express her political affiliation and desire to be a party member. Recognizing this, the CPN-UML eventually granted her membership. Secretary Aryal emphasized that it was a natural progression to assign a significant role to such a respected figure once her membership was confirmed. "It would not have been appropriate to keep her merely as a pure party member," Aryal stated. "Therefore, when considering what responsibility would be suitable, taking into account her personality, her capacity, her guardianship, the party has now decided to give her a place and honor in this party as a respected senior leader." This move underscores the party's recognition of her extensive experience and influence within the political landscape. The appointment of former President Bhandari as a senior leader is expected to bring a wealth of experience and a unifying presence to the CPN-UML. Her long-standing political career, which began in student politics and saw her rise through the ranks to become the nation's first female president, positions her as a formidable figure. Her return to active party leadership could potentially influence the party's strategic direction, internal cohesion, and public image, especially in the lead-up to future elections. Investors often monitor political stability and the composition of leadership within major parties, as these factors can indirectly impact policy-making, economic reforms, and overall market sentiment. A strong and unified political front can contribute to a more predictable policy environment, which is generally favored by investors. In related party developments, Secretary Aryal also confirmed that decisions were made to approve the names of leaders for central committee and standing committee members, which will subsequently be forwarded to the secretariat. However, she noted that the process of forming the politburo could not proceed due to time constraints. These internal organizational decisions are crucial for the party's operational efficiency and its ability to effectively engage in national politics. Separately, and of direct relevance to the financial markets, the Nepal Stock Exchange (NEPSE) has announced that trading will be halted on Ashoj 5, Monday. This closure is typically observed for public holidays or significant national events, and investors should take note of this non-trading day for their planning. While the primary news revolves around political appointments, such market announcements are vital for all participants in the Nepalese stock market.
CPN-UML Central Committee Rejects Proposal for Chairman Oli's Leadership Transition
In a significant development within Nepal's political landscape, the Central Committee meeting of the Communist Party of Nepal (Unified Marxist-Leninist), CPN-UML, has rejected a proposal suggesting that Chairman KP Sharma Oli should respectfully step down from his leadership role. This decision was announced by Deputy General Secretary Yogesh Bhattarai during a media interaction in Lalitpur on Thursday, shedding light on the internal dynamics of one of the nation's most influential political parties. Bhattarai clarified that the issue of leadership restructuring is a complex and multifaceted matter that cannot be resolved in a single meeting or discussion. He indicated that these crucial discussions would continue in subsequent party meetings, underscoring the ongoing internal deliberations regarding the party's future direction and leadership structure. This suggests a period of continued internal dialogue and potential shifts within the party's hierarchy, which is a common occurrence in large political organizations navigating succession and strategic planning. The immediate and primary focus for the CPN-UML, as outlined by Deputy General Secretary Bhattarai, is now squarely on the preparations for the upcoming local level elections. He emphasized the party's commitment to unity and cohesion as it gears up for this critical electoral challenge. Local elections are pivotal in Nepal's federal structure, as they determine the leadership and governance at the grassroots level, directly impacting local development, service delivery, and resource allocation. The outcomes of these elections often serve as a barometer for national political sentiment and can influence the broader political narrative. Furthermore, Bhattarai highlighted the party's intention to empower lower-level committees in the process of candidate selection for the local elections. This decentralization of authority aims to ensure that candidates are chosen based on the sentiments and aspirations of party workers and the general public, fostering a more democratic and representative selection process. This approach is crucial for building strong local leadership and ensuring that the party's agenda resonates with the needs of the communities it seeks to represent. The party also plans to present a manifesto that aligns with public expectations and addresses the pressing issues faced by citizens. For investors and the broader financial community, political stability and the direction of major political parties are often key indicators of the overall economic climate. While this news directly concerns internal party politics, the decisions made by parties like the CPN-UML can have indirect but significant implications for policy-making, governance, and investor confidence. A unified and stable political environment is generally conducive to economic growth and predictable policy frameworks, which are highly valued by investors. Conversely, prolonged internal strife or political uncertainty can sometimes lead to policy paralysis or shifts that might impact various sectors of the economy. The CPN-UML's renewed focus on local elections, coupled with its emphasis on party unity and a public-centric approach to candidate selection, signals its strategic intent to strengthen its base and influence at all levels of governance. As Nepal continues its journey of economic development, the role of major political parties in shaping national policies and ensuring effective governance remains paramount. The outcome of these internal discussions and the party's performance in the upcoming local elections will undoubtedly be closely watched by political analysts, citizens, and the investment community alike, as they offer insights into the future trajectory of Nepal's political and economic landscape.
SEBON Publishes Concept Paper on Advance Disclosure of Share Sales by Promoters
The Securities Board of Nepal (SEBON) has published a concept paper on the requirement for substantial shareholders of companies listed on the Nepal Stock Exchange (NEPSE) to provide advance notice before selling a significant portion of their shares. The concept paper, titled “Concept Paper on the Requirement for Substantial Shareholders of Companies Listed on Nepal Stock Exchange Limited to Provide Advance Notice to the Securities Market Before Selling Shares, Its Rationale, International Practices and Proposed Regulatory Framework, 2083,” was made public on Ashwin 7, 2083. SEBON said it had issued a directive on Bhadra 9, 2083, requiring any substantial shareholder of a NEPSE-listed company intending to sell 5% or more of their shareholding to notify the concerned company at least 15 days before the proposed sale. The company is required to arrange for the information to be publicly disclosed through NEPSE. SEBON issued the directive under the authority granted by Section 84(1) of the Securities Act, 2063, with the objective of strengthening market surveillance, protecting investors and promoting orderly securities trading. According to SEBON, the advance disclosure mechanism is intended to ensure equal access to information among investors and enable them to make informed investment decisions. The regulator said the arrangement would also help the market anticipate potential supply, identify unusual price movements and strengthen surveillance of possible securities-related offences and market abuse. The newly published concept paper aims to provide greater clarity to stakeholders regarding the rationale behind the advance-notice requirement, international practices and the proposed regulatory framework. SEBON said the advance disclosure provision is expected to increase market transparency and strengthen regulatory oversight through more effective risk-based market surveillance. The regulator also expects the measure to help manage unusual price fluctuations and selling pressure that could arise from large-volume share sales, thereby contributing to the protection of small investors. SEBON said the framework would ultimately support fairness, market integrity, accountability and investor confidence in Nepal's securities market. https://sebon.gov.np/uploads/2026/09/23/XZ2PIQSc3ex13WQTrjDDYja6VCu03AhRuMyCMiLQ.pdf
SEBON Opens Door for Intraday Trading; Buy First, Sell Later in Same Day
The Securities Board of Nepal (SEBON) has proposed introducing intraday trading in Nepal’s capital market in phases. The regulator has published the “Concept Paper on Implementation of Intraday Trading of Securities in Nepal, 2083” and invited suggestions from stakeholders on the proposed framework. According to SEBON, the initiative aims to increase market liquidity, improve price discovery and support the development of modern capital market infrastructure. Rather than introducing intraday trading across the market at once, the board has proposed starting with a limited number of securities that have regular trading activity, sufficient liquidity and relatively lower risks of market abuse. In the initial phase, SEBON has proposed a “Buy First, Sell Later” model, where investors would first purchase shares and sell them on the same trading day. The board plans to consider the “Sell First, Buy Later” model only after the necessary systems for securities lending and borrowing, as well as covered short selling, are sufficiently developed. The concept paper also proposes setting criteria for eligible securities and investors, along with requirements for brokers, risk disclosure, margin and risk management, market monitoring and technology systems. SEBON has proposed testing and pilot programs before gradually expanding the system based on the results and risk assessments. The board said investor protection, risk based regulation, real time trading and monitoring, and transparent market operations will be key priorities. The concept paper was prepared following discussions and studies involving representatives from SEBON, Nepal Stock Exchange (NEPSE), CDS and Clearing Limited, and the Stock Brokers Association of Nepal. The initiative is linked to the government’s Capital Market Strengthening and Revival Action Plan, 2083, issued by the Ministry of Finance on September 14, 2026, as well as SEBON’s policy for the current fiscal year. SEBON has requested stakeholders to submit their views and suggestions on the proposed framework. Your browser does not support pdfs, click here to download the file.
MetLife Nepal Partners with KIST Hospital for Cashless Treatment
MetLife Nepal has partnered with KIST Medical College & Teaching Hospital to provide cashless hospitalization services to eligible customers covered under its Employee Benefits insurance plans. With the arrangement, eligible employees and their covered family members can receive treatment at KIST without paying the hospital bill upfront, subject to their insurance policy’s coverage, eligibility and terms. MetLife will settle eligible medical expenses with the hospital through the cashless claims process. The service is intended to reduce the financial burden at the time of hospital admission and make the insurance claim process simpler for customers. Customers seeking cashless treatment can contact MetLife Nepal at 01-5970166 or KIST’s designated support team for information on the admission procedure and required documents.
eSewa and Citizens Bank Launch ‘Swabalamban Karja’ for Persons with Disabilities
eSewa and Citizens Bank International Limited have launched ‘Swabalamban Karja’, a digital loan facility aimed at making formal credit more accessible to Persons with Disabilities. The facility allows eligible applicants to apply for loans directly through the eSewa app, reducing the need for lengthy paperwork and physical visits. Loans ranging from Rs. 10,000 to Rs. 200,000 are available at an annual interest rate of 9.99%, with a 0.75% processing fee. Applicants must have a KYC-verified eSewa account, a disability identity card issued by the Government of Nepal, at least six months of eSewa usage history, and a regular income from employment or business. Loan approval will be subject to the bank’s assessment and applicable terms. The facility was launched at an event in Kathmandu attended by representatives from eSewa, Citizens Bank, the National Federation of the Disabled Nepal, development partners, Persons with Disabilities and the media.
Xi Jinping to Hold High-Stakes Talks With Donald Trump in Washington
Chinese President Xi Jinping is set to hold closely watched talks with U.S. President Donald Trump in Washington on Thursday, with trade tensions, artificial intelligence and other major points of friction expected to dominate the agenda. Trump and First Lady Melania Trump personally welcomed Xi and his wife, Peng Liyuan, at Joint Base Andrews in Maryland on Wednesday evening in a rare airport reception for a foreign leader. The White House has described Thursday’s meeting as an important milestone in U.S.-China relations. The two leaders are expected to discuss the future of the U.S.-China trade relationship after months of tariff disputes. The 11-month trade truce between the two countries has been extended until January 10, giving negotiators additional time to work toward a broader agreement. Trade restrictions and tariffs have previously escalated sharply, with both sides imposing measures on each other’s goods and China restricting exports of several rare-earth minerals that are important to advanced manufacturing and clean-energy industries. Artificial intelligence is also expected to feature prominently in the talks. Although the United States and China remain major competitors in AI development, both sides have raised concerns about the risks posed by advanced AI systems. Washington has proposed a notification mechanism under which the two countries would alert each other about serious AI-related incidents that could pose national-security risks. Taiwan is another potentially sensitive issue. China claims Taiwan as part of its territory, while the United States maintains close unofficial ties with Taipei and continues to approve arms sales to Taiwan. The leaders are also expected to discuss the conflict involving Iran, given China’s close relationship with Tehran and Washington’s interest in Beijing using its influence in the region. The cordial airport welcome contrasts with the sharp tensions that emerged after Trump returned to the White House in January 2025. The two countries subsequently imposed sweeping tariffs and trade restrictions on each other, while disputes also emerged over rare-earth exports and other strategic goods. Relations began to stabilize after Trump and Xi reached a trade truce during talks in South Korea in October 2025. The two sides have since explored areas for cooperation, including trade and investment and the purchase of U.S. agricultural products and Boeing aircraft. Thursday’s meeting will be the third direct meeting between Trump and Xi in less than a year. Beyond immediate trade issues, the talks could determine whether the two countries can prevent renewed escalation while managing competition in areas such as technology, security and Taiwan. The discussions are also expected to explore practical cooperation on tariffs, drug trafficking, military communication and other areas of mutual interest.
Nepal’s Public Debt Crosses Rs 29 Kharba, Reaching 45 Percent of GDP
Nepal's total public debt has reached Rs 2,973 billion (Rs 29.73 kharba) as of mid September. According to the Public Debt Management Office, this debt total equals over 45 percent of the country's gross domestic product (GDP). The total debt consists of Rs 1,361 billion in domestic loans borrowed from within the country and Rs 1,611 billion in external loans borrowed from foreign lenders. Domestic borrowing makes up 20.63 percent of the GDP, while external borrowing accounts for 24.41 percent. For the current financial year, the government aims to borrow a total of Rs 658 billion. By mid-September, it had collected Rs 61 billion, which represents 9.28 percent of its yearly target. Out of this collected amount, Rs 50 billion came from domestic sources (reaching 12.20 percent of its Rs 410 billion domestic target), and Rs 11 billion came from external sources (reaching 4.45 percent of its Rs 248 billion external target). At the same time, the government has spent significant funds repaying previous debts. It set aside Rs 417 billion for debt repayments and interest payments for the full year. By mid-September, it had already paid Rs 85 billion, completing 20.34 percent of its yearly repayment budget, which accounts for 1.29 percent of the GDP.
Uber Launches ‘Ride for Nepal’ Campaign, Pledges Rs. 50 Lakh for Flood Relief
Uber has launched the ‘Ride for Nepal’ campaign to support communities affected by recent floods in Nepal. The campaign will run from September 21 to October 20, 2026. As part of the campaign, Uber will provide Rs. 50 lakh to the Nepal Red Cross Society for emergency relief, temporary shelter and rehabilitation efforts. Uber will also contribute Rs. 10 for every completed Uber Bike ride and Rs. 20 for every Uber Cab ride during the campaign to the Prime Minister’s Disaster Relief Fund. The additional contributions will be made by Uber and will not affect the fares paid by passengers or the earnings received by drivers. The company said the campaign is intended to link everyday rides with relief and reconstruction efforts for flood-affected communities.
Four Construction Firms Blacklisted for Breaching Contract Terms
The Public Procurement Monitoring Office (PPMO) has blacklisted four construction firms for failing to comply with the terms of their contracts. Modern Construction and Suppliers has been blacklisted for three years following a recommendation from the Dumre-Besisahar-Chame Road Project Office, Lamjung. Similarly, Kamala Shanti Matsya JV has been blacklisted for two years on the recommendation of Sundarharaicha Municipality, Morang. The joint venture comprises Kamala Shanti Nirman Sewa and Matsya Pokhari Construction Pvt. Ltd. Both firms were penalized for failing to perform as required under an infrastructure construction contract. Meanwhile, Black Mamba Construction Pvt. Ltd. of Surkhet has been blacklisted for one year following a recommendation from Gurans Rural Municipality, Dailekh. The PPMO said the blacklisted firms will not be eligible to participate in public procurement during their respective penalty periods.
Central Bank to Collect 20 Billion from Bank and Financial Institution Today
Nepal Rastra Bank (NRB) has announced that it will collect deposits worth Rs. 20 billion from banks and financial institutions through a bidding process today to manage excess liquidity in the market. Public says Bank has too much money sitting in the vault that's why NRB is absorbing BFI's money day by day. According to a notice published today, the central bank will collect the deposits for a period of 32 days. The bidding will take place on Ashwin 8 (September 24) through the Online Bidding System at 3 Pm. The interest rate will be decided through the bidding process. The minimum amount for bidding has been set at Rs. 10 crore, while the maximum limit is (In multiples of) 5 Crore, up to the total issue amount. However, institutions can submit multiple bids within the total announced amount. Only licensed ‘A’, ‘B’, and ‘C’ class banks and financial institutions approved by NRB are allowed to take part in the bidding. The deposits collected will be returned along with interest on Kartik 9, 2083 (October 26, 2026).
Nepal and Germany Strengthen Bilateral Ties at UN General Assembly
Minister for Foreign Affairs Shishir Khanal has requested assistance from Germany for the rehabilitation, resettlement, and reconstruction of areas recently affected by floods herein Nepal. During a bilateral sideline meeting with Germany's Minister for Economic Cooperation and Development, Reem Alabali Radovan, at the United Nations Headquarters in New York on the occasion of the 81st UN General Assembly, Minister Khanal emphasized the urgent need for further investment in disaster post-reconstruction, climate resilience, disaster preparedness, and capacity building. Minister Khanal expressed gratitude for the sympathy, solidarity, and support extended by the German government and its people regarding the significant loss of life and property caused by the floods. He noted that Nepal is actively moving forward with post-disaster rehabilitation, resettlement, and reconstruction work, highlighting that additional investments in disaster preparedness and climate adaptation are essential. He also praised Germany's long-standing support toward Nepal's development process and stressed that addressing challenges brought about by climate change is a shared responsibility of the global community. In response, German Minister Alabali Radovan stated that the recent devastating disasters in Nepal should be recognized as a global shared challenge and reaffirmed Germany's commitment to providing financial and humanitarian assistance to Nepal. Both ministers exchanged views on various aspects of the friendly bilateral relationship between Nepal and Germany, expressing their commitment to further strengthening and deepening cooperation in areas of mutual interest.
Muktinath Bikas Bank Signs MOU with Autoways Sign Deal for Bull Machine Financing
Muktinath Bikas Bank Limited have signed an MoU with Autoways Pvt. Ltd., the authorized distributor of Bull Machines in Nepal, to provide financing facilities to customers purchasing Bull construction equipment. Under the agreement, the bank can finance up to 50% of the dealer’s invoice value by keeping the Bull Machine itself as collateral. The agreement was signed by Baburam Dhakal, Head of Gandaki Region at Muktinath Development Bank, and Narayan Prasad Paudel, Chairman and Managing Director of Autoways. Customers providing additional acceptable fixed-asset collateral may be eligible for financing of up to 80% of the invoice value, subject to the bank’s credit assessment and prevailing lending policies.
Nepal’s Foreign Trade Reaches Rs 4.78 Kharba in First Two Months of FY 2083/84
Nepal’s imports surged by nearly Rs 1 Kharba in the first two months of the current fiscal year 2082/83, with the country importing goods worth Rs 4 kharba 1 arba 52 crore during Shrawan and Bhadra. According to data from the Department of Customs, Nepal had imported goods worth Rs 3 kharba 5 arba 16 crore during the same period of the previous fiscal year. Imports have therefore increased by Rs 96 arba 36 crore year-on-year. Nepal’s exports also recorded significant growth during the review period. The country exported goods worth Rs 76 arba 59 crore in the first two months of the current fiscal year. In the corresponding period last year, exports stood at Rs 47 arba 32 crore. This represents an increase of Rs 29 arba 27 crore, with exports rising by 61.86% year-on-year. With both imports and exports increasing, Nepal’s total foreign trade also expanded during the period. Total foreign trade reached Rs 4 kharba 78 arba 10 crore in the first two months of the current fiscal year, marking a 35.64% increase compared to the same period last year. Despite the strong growth in exports, imports continue to significantly exceed exports, leaving Nepal with a substantial trade deficit.
Bonus Shares of Synergy Power Development Limited Listed on NEPSE
12,09,862.50 unit bonus shares of Synergy Power Development Ltd. (SPDL) have been listed in NEPSE. The company convened its 19th AGM on 19th Magh, 2082, and endorsed a 10.5263% dividend for the fiscal year 2081/82. The board of directors meeting held on Chaitra 12 had decided to distribute a 10% bonus shares worth a little over Rs. 12.09 crore and a 0.5263% cash dividend amounting to Rs. 63.67 lakhs. The same bonus shares are now listed in NEPSE. SPDL closed at Rs. 356.00.
Ankhu Khola Hydropower to Invest Rs 5 Crore in 44 MW Upper Ankhu Khola Project
Ankhu Khola Hydropower Company Limited (AKJCL) has decided to invest Rs 5 crore in the 44 MW Upper Ankhu Khola Hydropower Project being promoted by Dhading Ankhu Khola Hydro Pvt. Ltd. The decision was made by the company’s Board of Directors meeting held on Ashwin 7, 2083. According to the company, the investment will be made in the 44 MW Upper Ankhu Khola Hydropower Project, which is being developed by Dhading Ankhu Khola Hydro Pvt. Ltd. The company informed that the Board of Directors approved the investment as part of its decision to participate in the development of the hydropower project. Ankhu Khola Hydropower Company has formally notified the relevant stakeholders about the investment decision.
Gold Rate Falls Below Rs. 3 Lakh Mark Again; Check Today's Trading Rate
Gold prices have witnessed a moderate fall in the domestic market today, falling by Rs. 3200 per tola to settle at Rs. 299,100 per tola, down from the previous rate of Rs. 302,300 per tola. The Federation of Nepal Gold and Silver Dealers' Association (FENEGOSIDA) reported that Tejabi gold price also falls by Rs. 3200 per tola to reach Rs.298,400 per tola, compared to Rs. 301,600 per tola on the previous day. Meanwhile, Silver prices moves in the same direction, price falls by Rs. 165 now trading at Rs.4,650 per tola down from previous rate Rs. 4,815 per tola.
Sanima Middle Tamor Hydropower Proposes 5.263% Dividend for FY 2082/83: Calls AGM on Ashwin 30
Sanima Middle Tamor Hydropower Limited (TAMOR) proposes a 5.263% dividend and has called the 11th AGM on Ashwin 30, 2083. The board of directors meeting on Ashwin 07 has proposed a 5.263% dividend for the fiscal year 2082/83. A 5.263% cash dividend (including tax) has been proposed. The company's existing paid-up capital is Rs. 3.33 Arba. The company has declared the book closure for dividends and the AGM on Ashwin 19. Thus, investors maintained before Ashwin 16 are entitled to the dividend and can also attend the AGM. As of writing, the company's LTP is Rs. 534.00.
CIAA Files Corruption Charges Against 12 Over Illegal Land Registration in Kalikot
Nepal's anti-corruption watchdog, the Commission for the Investigation of Abuse of Authority (CIAA), has taken decisive action against a significant land fraud scheme in Kalikot, filing corruption charges against 12 individuals. The case, which involves the alleged illegal registration of government and municipal development committee land worth crores of rupees into private ownership, underscores the persistent challenges of corruption and land mismanagement within the country. This development highlights the CIAA's commitment to upholding the rule of law and ensuring accountability, which is crucial for fostering a transparent and trustworthy environment for both domestic and international investors. The charges were formally lodged at the Special Court in Kathmandu on Wednesday. Among the accused are high-ranking officials, including Dhir Bahadur Bam, the former Chairman of the Land Related Problem Resolution Commission, Kalikot, alongside other government employees, public representatives, and private individuals who allegedly benefited from the illicit transactions. The breadth of individuals implicated, spanning various levels of authority and private citizens, suggests a well-orchestrated scheme designed to exploit public resources for personal gain. According to the CIAA's investigation, the fraudulent activities centered around specific land plots within Khandachakra Municipality-1. These include plot number 1772, which belongs to the Municipal Development Committee and is strategically located along the Karnali Highway, as well as government-owned plots 572 and 921. The investigation revealed that these valuable public lands were illicitly transferred into private names through a clear conspiracy among the accused. This collusion not only resulted in significant financial benefits for the perpetrators but also caused substantial losses to the state exchequer, impacting public trust and resource allocation. Further details uncovered by the anti-graft body indicate a blatant disregard for established legal procedures and regulations. The Land Related Problem Resolution Commission, under the leadership of the accused, allegedly failed to conduct proper on-site inspections. Moreover, it is accused of not adhering to the legal framework, providing land parcels exceeding the stipulated 130 square meters limit designated for urban areas, often under the guise of agricultural purposes. This circumvention of rules allowed for the misappropriation of larger tracts of land, further exacerbating the scale of the fraud. Adding another layer to the illicit nature of these transactions, the CIAA's findings suggest that some of the land recipients already possessed other properties. Furthermore, these individuals reportedly sold the newly acquired government lands shortly after obtaining the land ownership certificates, indicating a clear intent for speculative gain rather than genuine need or agricultural use. Such practices not only undermine the integrity of land distribution programs but also highlight systemic vulnerabilities that can be exploited by corrupt elements. The CIAA has demanded substantial restitution, known as 'bigo,' from the key figures involved. Former District Committee Chairman Dhir Bahadur Bam, expert member Ramesh Nepali, member Rajendra Bahadur Thapa, and the then-Chief of the Kalikot Land Revenue Office, Netra Bahadur Shahi, each face a demand of NPR 17,686,800. Bharat Bahadur Shahi, the former acting ward chairman of Khandachakra Municipality-1, is facing a demand of NPR 10,094,400. Additionally, Mukunda Basnet, the then-Nayab Subba of the Land Revenue Office, and Bhakta Bahadur Shahi, an office assistant, are each subject to a demand of NPR 7,592,400. Beyond these financial claims, the anti-corruption body has also sought imprisonment, fines, and the return of the illegally acquired land from other implicated employees and land recipients, signaling a comprehensive legal pursuit to recover public assets and punish those responsible. This high-profile case serves as a stark reminder of the importance of robust governance and transparent land administration for Nepal's economic stability and development. For investors, such actions by the CIAA reinforce the commitment to a fair and just legal system, which is paramount for safeguarding property rights and ensuring a predictable business environment. While corruption remains a challenge, the proactive stance taken by the anti-graft body in prosecuting such cases is a positive indicator for improving the overall investment climate in Nepal.
FNCSI Seeks Policy Support for MSME Sector, Donates Rs 5.55 Lakh for Flood Relief
The Federation of Nepal Cottage and Small Industries (FNCSI) has urged the government to make the micro, cottage and small industries (MSME) sector a national priority. A delegation led by FNCSI President Shobha Gurung met Finance Minister Dr. Swarnim Wagle and proposed declaring the next 10 years as an “MSME Development Decade.” It also called for collateral-free concessional loans, tax incentives for new industries, and at least 30% preference for domestic MSME products in public procurement. The federation also sought support for the “Made in Nepal” campaign, exports and modern technology. The federation proposed entrepreneurship packages for women and returnee migrant workers, a “100 Startups–100 Investors” programme and faster government services for industries. Wagle said the MSME sector is among the government’s priorities. During the meeting, FNCSI donated Rs 555,555 to the Prime Minister’s Disaster Relief Fund for families affected by the floods. The federation is also collecting essential supplies for distribution in the affected areas.
PM Shah Urges Public to Stay Alert as Heavy Rainfall Forecast from Friday
Prime Minister Balendra Shah has urged the public to remain alert as heavy to extremely heavy rainfall is forecast across several parts of Nepal from Friday to Sunday . Shah, who is currently in New York to attend the 81st session of the United Nations General Assembly, cited the Department of Hydrology and Meteorology’s forecast while urging people to take necessary precautions. According to the forecast, parts of Gandaki and Lumbini provinces could receive heavy to extremely heavy rainfall from September 25 to 27. Heavy rainfall is also likely in some areas of Koshi, Bagmati, Madhesh, Karnali and Sudurpaschim provinces. The rainfall could trigger floods, landslides, debris flows and inundation, while disrupting road and air transportation, Shah said. He urged people to avoid highway travel during rainfall and refrain from travelling at night as far as possible. People living near rivers and streams, particularly in flood-prone areas, have also been advised to remain cautious. Shah also urged those planning trekking or travel to mountainous areas to postpone their trips until weather conditions improve and regularly follow updates from the Department of Hydrology and Meteorology and local administrations. He has also called on concerned government agencies to strengthen preparedness, coordination and vigilance in response to the forecast.
NEPSE Witnessed a Loss of 36.25 Points; All Sector Close at Red
The Nepal Stock Exchange (NEPSE) recorded a double-digit loss, losing 36.25 points (1.36%) to close at 2,618.03. This follows a 7.06 -point gain in the previous trading session. The benchmark index opened at 2,670.28 and fluctuated between an intraday high of 2,671.04 and a low of 2,613.13 before settling at the close. Total turnover for the day amounted to Rs. 6.35 Arba, with 21,622,728 shares traded across 352 companies through 57,947 transactions. The total market capitalization stood at Rs. 45.03 Kharba, with a float market capitalization of Rs. 15.25 Kharba. SHIVAM CEMENTS LTD (SHIVM) topped the turnover chart, recording transactions worth Rs. 38.34 crores. The company’s stock closed at Rs. 687.00 . Dhaulagiri Laghubitta Bittiya Sanstha Limited (DLBS) led the gainer's list with a 15.00% gain. The stock closed at Rs. 1,341.90. Meanwhile, First Micro Finance Laghubitta Bittiya Sanstha Limited (FMDBL) recorded the Highest fall, falling by 8.54%. The last traded price of the company was Rs. 750.00 . Among sectors, the Life Insurance recorded the highest loss, losing by 2.04%, while Mutual fund recorded the least loss, down 0.15%.
Snow Rivers and Shangrila Development Bank Share Prices Adjusted Following Bonus Shares
The Nepal Stock Exchange (NEPSE) has adjusted the stock prices for Snow Rivers Limited (SNORL) and Shangrila Development Bank Limited (SADBL) following their respective bonus share proposals. The share price of Snow Rivers Limited has been adjusted to Rs 859.09 to reflect a 10% bonus share issue. Prior to this adjustment, the company’s stock had closed at Rs 945. Similarly, the share price of Shangrila Development Bank Limited has been adjusted to Rs 411.54 to account for a 4% bonus share proposal. Its stock was previously traded at a closing price of Rs 428. Trading for both listed companies will resume based on these revised reference prices tomorrow.
Nepal's Disaster Reflects Growing Climate Crisis: UN Secretary General
UN Secretary General Antonio Guterres has drawn the world attention that recent disaster in Nepal had demonstrated the impact of climate crisis. In the opening of 81st session of UN General Assembly in New York today, Secretary-General Guterres viewed the mountain countries, including Nepal, have suffered most owing to global temperature rise. The world will see further hazards with increasing temperature causing glacier melt, he warned. The world leader also reminded the warning he had issued from Nepal to the world on fast melting of glaciers. "I'd issued warning three years back that the world roof was caving in," he said, adding that there were some taking the warning as a stretch then. But the present Bhotekoshi flood in Nepal has proved that the climate change impacts are quicker and more serious and more intense than expected. He further said climate change is not a concern merely for future but it has become a present reality. But the countries having little role in global carbon emission are bearing the brunt, according to him. Secretary- General Guterres argued the countries responsible for pollution should pay the price and those at the receiving end deserve compensation and financial assistance. "There is not adequate budget in the dedicated fund for loss and damage. I urge the developed countries to abide by their climate finance commitments," the UN Secretary-General said, asking the world leaders and representatives at the UN General Assembly to increase finance for climate adaptation three fold and mobilize additional resource to the loss and damage fund.