<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01229c7e80680e0a3614jpeg.jpg" alt="" width="1050" height="637"/><figcaption></figcaption></figure>Nepal Rashtra Bank’s (NRB) tightness on share collateral, signs of a lack of liquidity and the opening up of other investment avenues post-lockdown are some of the factors behind the share market’s sharp decline of late.On Sunday, <a href="http://www.nepalstock.com/" target="_blank" rel="noopener noreferrer">Nepal Stock Exchange (Nepse)</a> recorded the highest-ever fall in its history after the market dropped by 5.03% in just the first two hours of trading. A 40-minute long circuit break was imposed, as 60 companies saw their share values decline by 10%, and the Nepse index to 2782.52 points.A slight recovery was soon posted, but Nepse still fell by 3.7% from the previous day, losing 108.26 points from 2928.8 points to an end-of-day total of 2811.16 points. By day’s end, 31 companies lost up to 10% value on their shares.Despite the fall in the index, there were as many if not more people trading shares and the volume of transactions were unaffected, with 23 million 79 thousand shares of 223 companies clocking in Rs11.24 billion in turnover.The current dip in the share market is in sharp contrast to the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">boom during the lockdowns and prohibitory orders</a> when other investment sectors remained shut, allowing big and small investors to trade from home with the online trading system flourishing unabated.Bank interest rates also fell as the investment sector shrunk during the closures. As demand for credit in other sectors began to decline, banks also increased their investments in equity securities. As a result, the stock market traded at a record high with a turnover of Rs19.55 billion and Rs21.64 billion on 14 May and 15 July respectively.However, since then with the reopening of other sectors, the demand for bank loans has increased. There are indications that the lack of investment capital will be repeated. As such, banks are preparing to raise interest rates.The share market’s decline has been particularly concerning over the last week, falling from 3044 points to 2817 in five days. This has resulted in a loss of Rs1.5 trillion, down to Rs39.44 trillion on Sunday from last week’s Rs40.89 trillion.<figure><img src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141148/636d01249c7e80680e0a3615jpeg.jpg" alt="" width="623" height="351"><figcaption></figcaption></figure>Sunday’s fallout also prompted the Capital Market Reform Struggle Committee, led by investor Ram Krishna Dhakal, to demand the resignation of NRB governor Maha Prasad Adhikari for activities that have negatively influenced the share market.The committee has put forward 15-point demands including the limit of Rs120 million on margin loans brought by the central bank through monitory policy to be scrapped, the cap on dividends distributed by microfinance companies to be removed and the provisioning be modified.As per the NRB’s new stricter monetary policy, banks and financial institutions are allowed to give a maximum loan of Rs40 million to an individual or institution on the security of shares. Similarly, an investor can take a loan of only Rs120 million by pledging shares.Read also: <a href="https://www.nepalitimes.com/latest/instability-to-cost-nepal-dear-in-2021/" target="_blank" rel="noopener noreferrer">Instability to cost Nepal dear in 2021</a>, Ramesh KumarThe NRB didn’t only tighten its monetary policy, but all subordinate banks were also placed under strict restrictions, effectively banning them from share trading.To be clear, the NRB’s austere policies have caused the market correction by dislodging the confidence of large and institutionalised share traders, says share market analyst Mukti Aryal.The <a href="https://www.nepalitimes.com/here-now/insider-trading-taints-nepal-capital-market/" target="_blank" rel="noopener noreferrer">Sarbottam Cement share scandal</a>, in which Nepal Securities Board Chairperson Bhishma Raj Dhungana and Nepse CEO Chandra Singh Saud engaged in insider trading on IPOs, had recently dented confidence in the fledgling stock market.But the only way forward is for the NRB to examine its restrictive policies, adds Aryal: “The tightening of stock pledges is the chief reason for the market’s decline. Pledging one’s own assets as securities for trading should not be restricted.”However, instead of agitating against the regulatory bodies, investors themselves must adopt careful share-trading practices, says a share broker, adding that it is natural for the market to fall after being propped up by companies that very recently had bad portfolios.“If investors had invested in companies with solid portfolios, none of this would be happening,” he says. “Instead of investing smartly in profitable companies, investors hedged their bets on hydropower projects, development banks and finance, following the market rumours rather than prudent investment.”Translated by Kaustubh Dhital from the <a href="https://www.himalkhabar.com/news/125732?fbclid=IwAR1n22ltLRWRA6Yi8Lg23aGzl8ZLzgKvIlBx_UTy1R_3m9GZlgogZ9Y4F80" target="_blank" rel="noopener noreferrer">Nepali language original</a> in Himal Khabar.

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Inside Nepal’s biggest stock market tumble

<img width="1508" height="900" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb39c7e80680e0a0b49jpeg.jpg" alt=""/>The heads of the Nepal Stock Exchange (Nepse) and Securities Board of Nepal (SEBON) as well brokers and industrialists have been found to have profited from insider training and conflict of interest, eroding the <a href="https://www.nepalitimes.com/latest/despite-politics-nepals-stock-market-is-bullish/" target="_blank" rel="noopener noreferrer">public’s trust in the country’s stock market</a>.   Documents show that they were engaged in ‘front running’ in contravention of existing rules governing the role of regulators and brokers in stock valuation and transactions. An investigation by <a href="https://www.himalkhabar.com/news/125318">Himal Khabar</a> this week found Nepse CEO Chandra Singh Saud and SEBON Chair Bhishma Raj Dhungana bought shares for family members in Sarbottam Cement at far lower prices just before its Initial Public offering (IPO). The board of directors of Sarbottam Cement decided to sell 6 million shares in the company through a book building process. The shares were valued at Rs750 per unit to raise Rs4.65 billion, of which only 12.9% were included in the initial public offering.  However, many of the shares were sold pre-IPO for less than Rs250 per unit even before the public offering, and others are believed to have been given for free as ‘presents’ to important people. Benefiting were close family members of SEBON’s Chair Dhungana, Nepse CEO Saud, as well as Global IME Capital which was handling Sarbottam’s IPO. <img width="2284" height="1512" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbb69c7e80680e0a0b4ajpeg.jpg" alt="">Says share market expert Rabindra Bhattarai: “This is a clear case of an attempt by insiders to unethically influence the market price of a company offering premium shares.”Global IME Capital’s parent company Global IME Bank is headed by Chandra Dhakal, who is vice-chair of FNCCI and is also a member of SEBON. Dhakal’s brother has 30% share in an investment company that bought some of the shares. Chandra Dhakal therefore had a conflict of interest in being in a position to be the regulator in the sale of investment vehicles in a company that his family had invested in. Documents show that Saud and Dhungana also used their positions to leverage cheap purchases of the shares in the cement company, while Sarbottam benefited by getting permission to enter the share market, illegally influencing the regulators’ decision-making. In the eyes of the law, this is equivalent to corruption and considered a crime.  <img width="1028" height="718" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbba9c7e80680e0a0b4bjpeg.jpg" alt="">“For a CEO of the Stock Exchange or its employees to use information about an IPO to personally buy shares is a direct and serious conflict of interest,” explains capital market expert Mukti Aryal. “Buying shares in a company that is going to be traded on its own platform opens up the possibility of share price manipulation. In a case like this the SEBON official has to declare a conflict of interest and step down.”Front running is a form of insider trading where those with knowledge of a company’s share value use it to make a personal profit at the expense of the public. For example, it is ‘front running’ when a stockbroker receives customer orders to purchase a large stock in a company, but instead speculates the value of the shares and buys or sells off shares for themselves accordingly. Such actions are not just unethical, but can even be considered a financial crime. Nepal’s Securities Act 2007 Clause 91 codifies into law measures against front running, prohibiting SEBON staff from divulging and profiting off any inside information received by their position. Regulatory authorities are also not allowed to be in contact with company executives, founders and managers or exchange any benefits with them.  <img width="2288" height="482" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbd9c7e80680e0a0b4cjpeg.jpg" alt=""><a href="https://www.himalkhabar.com/news/125244">Nepse CEO Saud told Himal Khabar</a> he did nothing wrong, and admitted that he bought shares in Sarbottam at Rs250 per unit in the name of his wife, Sushila Kumari Bohara, but only after the cement company’s book building process had started. “It is only prohibited to buy and sell in the secondary market, there are no restrictions on buying shares in a company’s initial public offering,” Aryal told the magazine.However, Saud has been accused of purchasing the shares at a price lower than the company’s book-building, or share price evaluation.  <figure><img width="2000" height="1026" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbbf9c7e80680e0a0b4djpeg.jpg" alt=""><figcaption>Nepse CEO Chandra Singh Saud.</figcaption></figure>Companies that are going public must disclose all operations to regulators to ensure market transparency, but in no way are regulator officials, investment executives, brokers, company employees and others with an inside track allowed to enrich themselves using the company’s open books. Similarly, the investigation showed that SEBON chair Bhisma Raj Dhungana had also bought 11,992 shares in the name of his US-based daughter, Rebika Dhungana, in Sarbottam Cement before its book building process had started. SEBON’s Code of Ethics bars the board’s members and chair and their families from engaging in any transaction from which they can financially benefit.“Yes, my daughter sent me money from the United States to buy the shares, and yes, they are her shares,” Dhungana admitted. “Just because I am the chair of SEBON does not mean the law bars my married daughter from buying shares from any company she wants.”Dhungana was formerly with Nepal Rastra Bank, and is believed to have been nominated for the four-year term in SEBON at the recommendation of President Bidya Devi Bhandari. <figure><img width="1604" height="860" src="https://superdesk-pro-c.s3.amazonaws.com/sd-nepalitimes/20221110141124/636cfbc39c7e80680e0a0b4ejpeg.jpg" alt=""><figcaption>SEBON Chair Bhishma Raj Dhungana.</figcaption></figure><a href="https://www.himalkhabar.com/news/125258">An expert in share market regulations told Himal Khabar</a>: “This is a straightforward case of insider trading. There is no question about it.”Sarbottam Cement had signed an agreement with Global IME Capital to handle the IPO in March in the presence of SEBON officials, but the process has been delayed till later this month. Nepal’s manufacturing companies, especially in the construction and hydropower sector are currently riding a wave of market confidence. Another compnay, Shivam Cement, recently went public clocking a similarly strong stock market performance. The revelation of insider trading has been greeted by outrage on Nepal’s social media, and is likely to erode people’s growing trust in the stock exchange, with many commentators and financial analysts equating the secondary market with skulduggery, insider trading and outright theft.‘Are board members allowing suspicious companies to release shares under the temptation of illicit rewards?’ asked one social media post. Another went: ‘Is the share distribution process transparent?’ Yet another said: ‘Have finance bosses, chiefs and sales executives rigged the process to earn favourable shares for themselves?’ The share market had been anticipating a surge, riding a wave of investment interest of the Nepali public in the manufacturing and construction sectors. But the reports of insider trading confirm the public’s suspicions of hanky-panky, and are expected to dampen the stock market.  Moreover, moving forward, companies wishing to list their IPOs via book building will be cautious of possible behind-the-scenes dealings.The irregularity in Sarbottam Cement share offering is not the first of its kind, with the Securities Act 2007 violated previously.  In 2014, investors at Citizens Investment and Employees Provident Funds were caught exchanging investment with the Upper Tama Kosi Hydropower with shares for themselves in return. The regulations were subsequently overhauled and loopholes plugged.The Upper Tama Kosi and Sarbottam Cement cases are similar in the sense that they were both examples of graft, wherein two parties are believed to have exchanged confidential information for personal profit. Given the impunity that is rife in Nepal’s political and business spheres, the Sarbottam issue will further damage the reputation, trust and transparency of the share market, hurting an already moribund economy.Stock exchange legal expert Amrit Kharel is clear about the rules: “Three generations of the family members of a person with inside information about an initial public offering are barred from benefiting from any transaction, It is not just unethical, it is considered insider trading. And if any member of staff of SEBON is found to be violating this, they are liable to prosecution.”Links to Himal Khabar series on this subject:<a href="https://www.himalkhabar.com/news/125318">https://www.himalkhabar.com/news/125318</a><a href="https://www.himalkhabar.com/news/125244">https://www.himalkhabar.com/news/125244</a><a href="https://www.himalkhabar.com/news/125258">https://www.himalkhabar.com/news/125258</a>Translated by Kaustubh Dhital

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Insider trading taints Nepal capital market

Who is accountable for teacher-student relationships?

On Saturday, Iran retaliated with missile strikes on Abu Dhabi, Dubai, Bahrain and Qatar, a region where there are an estimated 2 million Nepalis working to send money home. In addition, thousands of Nepalis were preparing to board flights to Kathmandu from West Asian cities this weekend to vote in the 5 March election. Many are said to be stranded at various aviation hubs. A Qatar Airways flight from Doha took off just before the air space was closed, while Air Arabia and Kuwait Airways have diverted or cancelled flights. Nepalis in the West Asian region said things were relatively calm where they were, although some heard loud explosions at about noon local time. In Dubai, some thought they were Ramadan fireworks.&nbsp; In Kuwait, nearly 2,000 Nepalis working in the US military base as security guards and cleaners were evacuated before the strikes. In Bahrain where the US Fifth Fleet naval base is located and which was hit by two Iranian missiles, workers contacted by Nepali Times said the situation was under control and the authorities had told everyone to stay indoors and not use highways. The conflict also coincided with the beginning of Nepal’s trekking and mountaineering season, and tourists were either on their way or planning to leave European and North American cities for Himalayan hikes. Most of them transit through Doha, Dubai or Kuwait and all three airports are closed. Turkish Airlines flights via Istanbul are still operating.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260228130212_ab5e132d56da1df6a3fb1b6919648f845a168ad2c51d79f7587fb85a6e913b97.png" data-media-id="editor_0" data-image-id="20260228130212_ab5e132d56da1df6a3fb1b6919648f845a168ad2c51d79f7587fb85a6e913b97" data-rendition-name="original" width="1864" height="826" loading="lazy" alt="Qatar and UAE airspace closed"> <figcaption>Qatar and UAE airspace closed. Credit: Flightradar24</figcaption> </figure>  However, the main impact for the world could be a spike in the price of petroleum products if the strategic Strait of Hormuz is blocked. China relies on Iranian oil for their refineries, and Nepal could be affected indirectly if the economies of its neighbours are hit. Nepal imports all its diesel, petrol, LPG and aviation fuel from India which sources it mainly from the Gulf, and until recently from Russia. Petroleum makes up 25% of the value of all imports, and that is more than Nepal earns from all its exports. Saudi Arabia this year overtook the UAE as the main destination for Nepali workers, with the number now totalling 400,000. There are said to be as many in the UAE, and another 350,000 in Qatar. There are another 100,000 mostly women in Kuwait, and 50,000 each in Oman and Bahrain.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260228130220_d24ae633ff84f283835434becdb2f1351f84c415ce87ca34378bd4e2669661b3.jpg" data-media-id="editor_1" data-image-id="20260228130220_d24ae633ff84f283835434becdb2f1351f84c415ce87ca34378bd4e2669661b3" data-rendition-name="original" width="1500" height="1000" loading="lazy" alt="West Asia Iran conflict"> <figcaption>Iran retaliated with missile strikes on Abu Dhabi, Dubai, Bahrain and Qatar on Saturday.</figcaption> </figure>  Nepal receives nearly $11 billion a year in remittances from overseas Nepalis (not counting India) through official channels, although the total is said to be much more. &nbsp;This makes up more than a quarter of Nepal’s GDP equivalent — one of the highest proportions in the world. More than half of the overseas remittances to Nepal comes from its workers in the Gulf, and it is the mainstay of the country’s economy. Nepalis in Saudi Arabia, Qatar and the UAE alone send home more than $3 billion a year, much of that helping support their families back home. An average Nepali worker in the Gulf sends home nearly $2,500 a year, and this is spent mainly for household supplies, children’s education and healthcare. There are also an estimated 7,000 Nepali caregivers and healthcare workers in Israel, and most of them are women. The Nepal Embassy has asked Nepalis in Israel to take caution and move to bomb shelters.

West Asia war and Nepalis

Of the nearly 19 million eligible voters in next week’s election in Nepal, an estimated 5 million are abroad and cannot cast their ballots. Many others within Nepal must travel to their home districts, and might decide not to because of the cost.
Flights into Kathmandu these days are full of global Nepalis returning just to vote, but almost as many are leaving for overseas jobs. Most of those coming or going are in the 20-40 age group, and a majority want Nepal to see a change in leadership.
Bangladesh held an election this month in which citizens overseas could vote by mail.&nbsp;
“Bangladesh made maximum use of technology not just for campaigning but also for polling itself. We could have also managed this, so people within Nepal did not have to travel to their home districts to vote,” says Mohna Ansari, former head of Nepal’s National Human Rights Commission who was an election observer in Bangladesh.
A 3-day holiday has been declared so people can travel to their home constituencies to cast ballots. Even if there was not enough time to manage ballots for overseas Nepalis, it could have been done for Nepalis within Nepal.
Former Chief Election Commissioner Bhojraj Pokharel reckons that physical voting in countries with a large Nepali diaspora would have been a logistical nightmare, but in the PR system, using electronic voting machines or paper ballot could have been piloted in some places. It is not possible to manage the entire voting process until we introduce the internet voting system.
“First of all, there needs to be political will to bring the policy and be ready to undertake that level of investment and it is not a one-time cost,” Pokharel says. “A government formed by the GenZ could have atr least issed an ordinance ensuring this right, piloted out-of-country voting where possible, which could have built pressure for the future Parliament and the government. It would have given people hope. It is a lost opportunity.”
All major political parties called for voting rights for global Nepalis in their manifestos, but these very leaders blocked legislation allowing it despite a 2017 Supreme Court ruling out of fear that it would be anti-incumbent.&nbsp;
<h2>Why so late?</h2>
Bangladesh delivered election results in just one day, but the final results of Nepal's last local polls in 2022 including that of Kathmandu constituencies took nearly a month.
Acting Chief Election Commissioner Ram Prasad Bhandari said this week that the results of the First-Past-The-Post (FPTP) ballot counting would “likely” be published within 24 hours of the poll closing at 5PM on 5 March. But many are skeptical.
“I wonder if we lack the capacity or know-how to announce results as quickly as possible,” says Mohna Ansari.
Former Chief Election Commissioner Pokharel says manual ballot paper counting in Nepal is inherently slow because of the large numner of political parties and/or candidates on the ballot, the counting mechanism, the political behaviour of the candidates/parties and some managerial issues during counting.
“Our present policy is to count all the ballot papers at the returning officers' officies, located at the district headquarters. It requires collecting ballot boxes safetly first. This takes time, and there have been cases of ballot boxes being damaged or stolen during transport. In a few highly difficult, geographically remote polling centres, we use a helicopter or transport. But sometimes, accommodating the party and candidates' representatives remains challenging,” explains Pokharel. A solution could be counting ballots at the very booths where they are cast.
Another reason for the delay is simply the number of political parties, and the need for each ballot paper to be examined by booth representatives for consensus. In close races, the smallest difference can lead to tense situations, further delaying results, even though counting centres are protected by metal fencing so there is no disruption.
After this, then it is the turn of Proportional Representation (PR) ballots to be counted. Weeks pass by the time the results of candidates and parties are tallied and verified. But the most common delay is because election officers think ballot counting is a nine-to-five job.&nbsp;
“The efficiency of poll station officers is most important, and they are incentivised for this,” says Ansari, adding that counting can even start within an hour after voting closes.
In remote areas, local resources could be mobilised to make counting quicker, but there is a crisis of trust, adds Ansari.&nbsp;
That could be easily solved with electronic voting which the EC implemented in the 2008 polls but discontinued because political parties felt the machines could be hacked or manipulated.

Nepalis Select Who To Elect

This is the 86th episode of Diaspora Diaries, a Nepali Times series in collaboration with Migration Lab providing a platform to share experiences of living, working and studying abroad. <h2>Thinking about the country</h2> Pappu Mahara, Malaysia  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_b8bbe881acfbe3eda31f8127bfad743cb672f8777ee145be68b60176bfffda45.jpg" data-media-id="editor_0" data-image-id="20260223120244_b8bbe881acfbe3eda31f8127bfad743cb672f8777ee145be68b60176bfffda45" data-rendition-name="original" width="1000" height="2278" loading="lazy" alt="Homecoming at election time NT"> </figure>  I came to Nepal on vacation and managed to time it around election. In Malaysia where I have been working for over two years, it is all about elections. In our rooms. Online. In fact, the discussions around elections felt more heated in Malaysia than back home in the village here in Mahottari.&nbsp; Even when you find out someone is going to Nepal, Nepalis who are unable to come home ask who we are voting for and remind us to tell everyone to vote for Balen. I gave my colleagues a thumbs up and assured them: only Balen. &nbsp;That is the message we come home with. And that is the reason I pasted Balen even in my suitcase as I came home. I wanted to show the world that those of us who are working hard overseas support him.&nbsp; In the past, my family voted for another party but they failed us. Even to get jobs we qualify for we need connections. Where are the jobs? The factories? Development?&nbsp;  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_5fd78fb1c7aae55b75f687d7e34d362854dc0b7167ee0755766401650fa05fb2.jpg" data-media-id="editor_1" data-image-id="20260223120244_5fd78fb1c7aae55b75f687d7e34d362854dc0b7167ee0755766401650fa05fb2" data-rendition-name="original" width="1000" height="1002" loading="lazy" alt="Homecoming at election time NT"> </figure>  Unemployment is high. Costs are rising. It is not just jobs in Nepal, even to get access to good overseas jobs, we need connections now. And money. There is corruption everywhere.&nbsp; Our expectation from the new government is to think beyond only their close networks and personal gain, to think about the country. What is the point of repeating mistakes from the past if those who are going to benefit are the sisters, nieces and nephews of those in power? It is good that some of us got to come home, even one vote can make a difference.&nbsp; Each ballot can create a mountain, that is why we have come home to vote.&nbsp; <h2>Coming home to support my son</h2> Rishiram Khanal कोही छन् विदेशमा, कोही यता शहरमा, जीवन उकास्न भोग्दै कहरै कहरमा। शून्य भयो गाउँघर, मान्छे लाखापाखा हुँदा, जुनकीरीको पिल्पिल् हरायो सुनसान डहरमा। Some are abroad, some here in the city,Enduring hardship just to lift life.Villages empty as people scatter far and wide,Fireflies don't flicker anymore over barren paths. I came home to Nawalpur from Bahrain to support my son, Manish Khanal, who is running in the election as an RSP candidate. I migrated to Bahrain 15 years ago where I work as a security guard. It was for my children’s education and future. That is the story of the majority of us, a compulsion.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_6e0cce852d3b0b1c2d3004952569386674fa5d08cbaa9d77effd1af6ad735dee.jpg" data-media-id="editor_2" data-image-id="20260223120244_6e0cce852d3b0b1c2d3004952569386674fa5d08cbaa9d77effd1af6ad735dee" data-rendition-name="original" width="1000" height="1778" loading="lazy" alt="Homecoming at election time NT"> </figure>  It would have been better if we did not have to leave our families behind. But we migrate to secure a future for our children. Mine have done well for themselves, they are educated and disciplined. This motivated me to stay on overseas. And now my son’s achievement has further motivated me. From childhood, Manish was a hard-working student who did well throughout his school. He got into politics through Bibeksheel and has now made his way to RSP where he is contesting from Nawalpur. Everyone has their reason for joining politics. My son was drawn to it because the country was deteriorating and corruption is rife. Many youth are leaving. The Gen-Z revolution in which many young lives were lost made him even more committed to run for office. I come home every two years on vacation, but this time it was special when I arrived three days ago. I was overjoyed. Even on the plane, people recognised my son on videos. He is from an ordinary Nepali family, but is getting noticed globally. &nbsp;I had never imagined this reality is possible, such a life-changing opportunity has opened up for him at such a young age. He is the second youngest candidate running for office.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_b5a8fbc1a268445798a573e6f9e837a1ed620d494a2c06492a4a14d790a7a319.jpg" data-media-id="editor_3" data-image-id="20260223120244_b5a8fbc1a268445798a573e6f9e837a1ed620d494a2c06492a4a14d790a7a319" data-rendition-name="original" width="1000" height="1333" loading="lazy" alt="Homecoming at election time NT"> <figcaption>Rishiram Khanal (left) with his son Manish Khanal.</figcaption> </figure>  I want to see him run the country. I want him to ensure that the youth can get decent jobs in Nepal itself. I am encouraged by the feedback I have received from fellow workers in Bahrain. They support me and congratulate me for raising a son with such integrity. Here in Nawalpur, the environment is positive and I am also helping campaign for my son. The support for the RSP abroad is high. People are calling up family members back home to tell them to vote for घन्टी. We have long duty hours so don’t travel around much but from what I saw, there is a lot of support for the party. No matter who is running from whichever party, I hope that the priority will be Nepal’s prosperity, they should focus on building the nation. Nepalis should not have to leave in such large numbers.&nbsp; As for my son, I wish him the very best and hope he goes far. I want him win and become Nepal's son, not just mine. I want the world to know of him as an honest, selfless Nepali who will fulfil his duties for the nation earnestly.&nbsp; <h2>If not now, then when?</h2> Narendra baral, Oman  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_f8d421d93e8668b794e606198ee5b29d8e6b1af1640c91577b6f984c93d088f3.jpg" data-media-id="editor_4" data-image-id="20260223120244_f8d421d93e8668b794e606198ee5b29d8e6b1af1640c91577b6f984c93d088f3" data-rendition-name="original" width="606" height="689" loading="lazy" alt="Homecoming at election time NT"> </figure>  Just like elections have taken over Nepal, those of us abroad are equally excited and engaged. After the GenZ movement in particular, we Nepalis abroad have become even more involved. Friends are also keen to return to Nepal to vote. The mentality that no matter who wins it won’t matter and nothing will change has now been replaced by: if not now, when? There is a growing consensus that youth need to lead the nation. In that regard, the leadership change in the Nepali Congress (NC) has encouraged overseas Nepalis because we view Gagan Thapa, with his experience and sacrifices, as the right person to lead the nation. What he did recently to change the face of the NC has rejuvenated hope. For far too long, the musical chairs among the same old people had led to a sense of disgust with the state of the politics.&nbsp; Now, with new parties and new leadership in old parties, we feel emboldened to talk and engage positively and with hope. He has already won people’s confidence by allowing new faces to contest the elections, and even those who had started feeling skeptical or discouraged with Congress are now strongly supporting the party. I first migrated to Dubai in 2006 and returned five years later to start a poultry farm and fresh house in Nepal, but it did not go very far, so I decided to remigrate to Oman in 2016. It is a pity that overseas Nepalis could not vote in this election either. We saw Bangladeshis mail their votes just recently, while Filipino colleagues do so online.&nbsp; We even submitted a petition to the embassy on this issue, and the ambassador was positive given that there are just 25,000 Nepalis in Oman. Let’s hope the next election will be different. I am glad that this issue has been addressed in recent manifestos shared by the parties. Other than allowing diaspora voting, the government should also create a platform for those of us abroad so we can channel our investment and skills back home. We are investing in Oman and would like to do the same back home and create jobs for youth. Those of us who can manage are coming to Nepal to vote. Some of us have timed our vacations that way. Others have taken a week’s leave. <h2>Every vote counts&nbsp;</h2> Prajwal Poudel, Saudi Arabia  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260224130228_0b2e9f6cbfc40a4fbd90ee93ede9bfe66dfb7011785376e6d290ce12578f69a6.jpg" data-media-id="editor_5" data-image-id="20260224130228_0b2e9f6cbfc40a4fbd90ee93ede9bfe66dfb7011785376e6d290ce12578f69a6" data-rendition-name="original" width="1170" height="878" loading="lazy" alt="Homecoming at election time NT"> </figure>  I was not sure if I would come to Nepal from Saudi Arabia for this election. But as election came close I really wanted to come home, I thought every vote matters. It is a basic right of every Nepali citizen and this is the right time now in Nepal where things are building up for change.&nbsp; All five of us roommates are returning. We all came together to Saudi Arabia to work and are going back together to vote for RSP. Our contract was about to end a couple of weeks after the elections so my roommates decided to forfeit a few weeks of salary to come home to vote. My situation was a bit different because I had made up my mind to stay on. I can always migrate overseas, if I have to go again, I can arrange it but the GenZ movement is a once in a lifetime event and this positive environment for change might not come again. I have resigned from my job with the slogan: each vote counts. I also am hopeful that the same employer will bring me back if needed as I have built a good rapport with them and worked hard throughout my contract. I am supporting Ghanti this time but if they do not deliver I will again choose another party next time.&nbsp; For me it is about choosing the right leaders. Some of my colleagues are telling me I should not have made this decision to return. My father was telling me to remain overseas so I have not told him properly that I am coming home with no return plans. My mother knows the reality and seems excited and she brought my citizenship card to Jhapa.&nbsp; If things don’t pan out as I have planned and the same old faces win, I will again migrate. Perhaps that is why I am coming home to avoid that possibility. The stakes are high this time. <h2>I am coming home to vote</h2> Bimal Subedi, Qatar  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_8c0597047c2aa87a1dc8d3c062f46071107c16a3d8331df12627db9b14ce2756.jpg" data-media-id="editor_6" data-image-id="20260223120244_8c0597047c2aa87a1dc8d3c062f46071107c16a3d8331df12627db9b14ce2756" data-rendition-name="original" width="924" height="2000" loading="lazy" alt="Homecoming at election time NT"> </figure>  The political ups and downs in Nepal brought me to Qatar 21 years ago, but even from the diaspora, I have continued my engagement with the NC in various capacities. The democratic change of 1990, led by the NC opened Nepal to the world. &nbsp; From a country that did not even allow ordinary people to have passports, the government took steps to provide unemployed youth access to overseas jobs and the international market. This outmigration intensified after the Maoist conflict, and now there is a significant population overseas. Foreign employment has helped us send money back home, which has improved our living standards and helped us come out of poverty. Foreign employment can be beneficial if we make good use of it to maximise our skills and capabilities. I have been able to establish myself as a senior accountant in an international travel company and have also improved my family’s living standards. In the past two decades, I have come home 70 times, in fact, it is easier for me to travel to Kathmandu from Qatar than for someone from Dolpo.  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120244_1f89301a33ee6ed0858d7047aeb7ad4c73289c7be58a451c6d1c98d6930d2bc2.jpg" data-media-id="editor_7" data-image-id="20260223120244_1f89301a33ee6ed0858d7047aeb7ad4c73289c7be58a451c6d1c98d6930d2bc2" data-rendition-name="original" width="924" height="2000" loading="lazy" alt="Homecoming at election time NT"> </figure>  The recent GenZ movement was a fight for equal access to education and basic services. Someone in Dolpo should have access to the same opportunities as someone in Kathmandu. But inequality transcends borders. Someone working in the same five star hotel overseas versus in Nepal sees a large salary difference. Only the one abroad can make meaningful savings. How do we create a labour market in Nepal that provides quality jobs so people can afford a decent living? The narrative being painted, especially on social media, that only the new is good is misleading. We have long advocated for change that touches the grassroots level and provides equal access to opportunities and services. The latest changes within NC leadership and the manifesto have made it evident that reform is coming, and we are coming home to show our support. Some are returning just to vote, while others have arranged their vacations during election time. This time I am coming home with the hope that the new government will ensure everyone has equal access to healthcare and education. That Nepali diaspora overseas will be provided a platform to invest in Nepal and help create world class jobs.&nbsp; I am coming to vote for a Nepal that we can all be proud of. <h2>Possibility of real change&nbsp;</h2> Sachin Thakur, Malaysia  <figure> <img src="https://publisher-publish.s3.eu-central-1.amazonaws.com/pb-nepalitimes/swp/asv65r/media/20260223120248_40a23a8aa46cc22999de1bfafe6e77a30c88253ea280473c7213d40d35d3acd5.jpg" data-media-id="editor_8" data-image-id="20260223120248_40a23a8aa46cc22999de1bfafe6e77a30c88253ea280473c7213d40d35d3acd5" data-rendition-name="original" width="1778" height="1000" loading="lazy" alt="Homecoming at election time NT"> </figure>  I am coming home for the first time after working 40 months in Malaysia. I came to vote for Balen. I went overseas looking for jobs, just like my father who had spent five years in Qatar as a construction worker and who returned prematurely from the UAE after a failed migration experience.&nbsp; Malaysia is filled with Balen supporters. We have a company canteen where ten of us met constantly to discuss politics. We talked about corruption and the need for better jobs back home. The non-RSP supporters are in the minority at our workplace and perhaps across Malaysia. I came home to vote. I was lucky to be able to time my vacation that way. I look forward to spending time with family but also have plans to get together with the boys to campaign for RSP.&nbsp; For those of us who are overseas, the expectation is that the government will negotiate better terms of employment including higher pay. And that we can eventually come home. I want to resume my business making gold jewelery.&nbsp; What Nepal needs is leaders who focus on improving the basics: education and health, and everything else would work out on its own. We are betting on Balen because he has made a difference in Kathmandu as mayor, and now it is time to think about the whole country. It is not guaranteed how much he will be able to accomplish, but there is an actual possibility for real change this time and that is what matters.&nbsp;