- Transitional Justice Process:
- Post-Conflict Resolution: Nepal continues to address the aftermath of its civil war, culminating in the 2006 Comprehensive Peace Agreement.
- UN Involvement: UN Secretary-General António Guterres’s visit in October 2023 underscored the nation’s progress towards initiating a transitional justice process.
- Legislative Amendments: The draft bill on transitional justice requires significant revisions to align with Nepal’s Supreme Court rulings and international standards.
- Insider Trading Scandal:
- Securities Board Scandal: The Securities Board of Nepal was embroiled in an insider trading scandal involving key figures like Bhisma Raj Dhungana and Chandra Singh Saud.
- Government Probe: An investigation was launched into the delayed financial disclosures that facilitated advantageous stock sales for select individuals.
- Foreign Direct Investment Irregularities:
- NepaLeaks Aftermath: Following the NepaLeaks exposé, a government committee was formed to investigate foreign direct investment irregularities.
- Illicit Financial Flows: The committee discovered that 27 companies had illicitly brought over $90 million into the country.
- Consumer Protection Efforts:
- Challenges in Consumer Rights: Nepal’s consumer protection landscape faces ongoing challenges, with persistent operation of dishonest businesses despite fines and investigations.
These recent events highlight the intricacies of Nepal’s legal system and the imperative for robust mechanisms to safeguard rights, ensure accountability, and foster fair competition. By addressing these issues, Nepal aims to strengthen its legal framework and promote a just economic environment.
