National News - Page 31
Kathmandu Tangled Web: Government Moves to Untangle Valley’s Cable Chaos
The Ministry of Energy, Water Resources, and Irrigation, in partnership with the Ministry of Information and Communication, has launched a major cleanup initiative to remove unused, tangled overhead cables across key areas of the Kathmandu Valley. The drive aims to eliminate urban eyesores, boost public safety, and minimize roadside hazards.
India's NHPC to Partner on Nepal's 480 MW Phukot Karnali Project
India's state-owned NHPC Limited is set to partner with Nepal's Vidhyut Utpadan Company Limited (VUCL) to jointly develop the 480 MW Phukot Karnali Hydropower Project in Kalikot, Nepal. Following a draft MoU reached during a bilateral energy meeting and awaiting Cabinet approval, the two entities will form a joint venture. NHPC will hold a 51% stake, assume the responsibility for securing project loans, and guarantee a market for the generated electricity, while Nepal will receive 21.9% of the power free of cost. This marks NHPC's third major hydropower venture in Nepal.
Race for Top Investment Spot Reopens: Government Seeks New CEO for Investment Board Nepal
The government has officially restarted the recruitment process for the Chief Executive Officer (CEO) of Investment Board Nepal (IBN), inviting highly qualified Nepali experts to apply through an open competition.
Minister Shrestha Opens PPA for Under 10 MW Projects; Targets 1,500 kWh Per Capita Consumption
Speaking at IPPAN's 26th General Assembly, Energy Minister Biraj Bhakta Shrestha unveiled sweeping energy sector reforms, warning inactive license holders while opening direct international power trade and private transmission lines.
Government Committee Recommends Cancellation of 38 Sluggish Hydropower Licenses Totaling 1,388 MW
A high-level committee under the Ministry of Energy, Water Resources, and Irrigation has recommended revoking the licenses of 38 hydropower projects with a combined capacity of 1,388 MW due to zero progress despite Power Purchase Agreements (PPAs). The move follows the government's 100-point governance reform action plan and the budget statement targeting inactive projects.
Trump's "I Like Inflation" Comment Sparks Outrage as US Prices Hit 3-Year High
US President Donald Trump triggered intense debate after expressing a controversial fondness for inflation following a sharp rise in consumer prices to 4.2% in May. Driven by soaring energy costs from the escalating US-Israel conflict with Iran, the inflation surge presents a shifting economic and political challenge as midterm elections approach.
Finance Minister Dr. Swarnim Wagle Denies EV Policy Leak Allegations, Pledges to Quit Politics If Proven Guilty
Finance Minister Dr. Swarnim Wagle has strongly dismissed allegations that he leaked sensitive information regarding electric vehicle (EV) policies. Speaking before the parliamentary Public Accounts Committee, Dr. Wagle challenged his critics to produce evidence, promising to immediately resign and withdraw from public life entirely if any dishonesty is proven against him.
Finance Minister Dismisses Missing Pages and Tax Manipulation Allegations as Overblown
Finance Minister Dr. Swarnim Wagle clarified that news reports alleging unauthorized changes to customs duties and "missing pages" in the economic bill are misleading and exaggerated, attributing the page count discrepancies to minor technical formatting in Microsoft Word.
Finance Minister Dr. Swarnim Wagle Defends Government’s Prerogative to Amend Tax Rates
Finance Minister Dr. Swarnim Wagle asserted that the government holds the absolute legal authority to alter tax rates. Speaking at a Public Accounts Committee meeting, he clarified that tax adjustments are institutional decisions aimed at public welfare, rather than arbitrary choices.
Trump Demands Action Following US Military Helicopter Crash Near Iran Border
President Donald Trump has accused Iran of shooting down an advanced US military helicopter near the strategic Strait of Hormuz. While the US Central Command confirmed the crash and rescued the crew, they noted that the exact cause remains under investigation.
Cabinet Approves Forest Land for Four Hydropower Projects and Sanctions New Civil Service Rules!
The Cabinet has made four major decisions, including clearing national forest land for multiple hydropower projects, greenlighting the 16th amendment to the Civil Service Rules, and forming a new ad-hoc committee for the Nepal Red Cross Society.
The Ritz-Carlton Debuts in Thamel: Marriott and Chaudhary Group Partner to Elevate Nepal's Luxury Hospitality
Finance Minister Swarnim Wagle met with Marriott International Chairman David Marriott and Chaudhary Group executives to discuss the debut of The Ritz-Carlton in Kathmandu, marking a major milestone for high-end tourism and investor confidence in Nepal.