Today's Chatpat: October 17th, 2023

1. Our Nepal Electricity Authority (NEA) is planning to issue its IPO at a premium rate, which means you will likely pay more than two to three times the usual Rs 100 per share if you are lucky enough to get a handful of shares when its public offering is finally out there in the market.

One of our country's rating agency has given NEA the ranking of AA+ which means it has very low credit risk. Well, as monopolies like Nepal Telecom and other state enterprises, NEA is a cash cow and is planning to raise Rs 60 billion (approx 450+ million US dollars) from its initial public offering. NEA plans to invest US$4 billion by 2030 to improve and build transmission lines across the country. 

2. In the past three days alone, more than 200,000 people have left the Kathmandu Valley for their hometowns for the Dashain holidays. Every year, millions leave the capital for their towns and villages and transportation entrepreneurs continue to charge higher prices and overload the buses with little action towards such acts by the government authorities. 

The country's major highways are in dire straits and need massive repair while many parts of highways are witnessing major upgrade to more lanes since the past few years but contractors have failed to complete the projects on time which creates problems for the buses and inconveniences for the passengers as well.

3. Nepal Police have come up with a 10-point appeal for citizens for their own safety during the Dashain festival. According to media reports, the Police has requested people to not eat any food and drinks by strangers during their bus rides as many criminals use this trick to loot passengers.

Citizens are advised not to wear expensive jewelry, carry huge wads of cash when in public places and be wary of pickpockets. As many people leave the valley for Dashain, the Police has advised those who will not be in the capital for weeks to lock their houses properly, install siren alarms and inform their neighbors to look out for any suspicious activities.

Citizens are also advised to use mobile banking apps for financial transactions and not disclose their passwords to others. As tens of thousands of check bounce cases are registered in the country, citizens are requested not to write checks of any amount that exceeds the balance in their accounts. 

Nepal Police also advises people not to disclose their holiday plans on social media, to not gamble, drink or use drugs while driving and follow the traffic rules diligently. Nepal Police has also stated that it will use trained dogs and drones to keep track of people and provide safety to valley residents during Dashain.

4. Our domestic airlines as always, will have a bumper Dashain as it fleeces consumers by charging airfare that would shock and suprise us but not our government or the civil aviation authorities. According to media reports, it's more expensive to fly to Dhangadi from the capital than to New Delhi.

The government authorities seem to be favoring the airlines as the usual excuse is that the planes are fully booked from the capital but have to come back empty during the Dashain festival. We had heard this arguments from our taxi drivers in the past but it seems that businesses in this country get a free ride while consumers pay through their teeth for any rides during the Dashain festival.

5. The 3rd NRN Global Knowledge Convention has kicked off in the capital from today. The NRN's meet is being held at the Soaltee Hotel from today till 20th October. Our honorable aam-maafi President has inaugurated the event. This year is election year for Non-Resident Nepalis' and as usual, the slug fest begins with factions fighting both physically and taking support from Nepal's political parties. 

The NRNs residing in foreign lands except in the SAARC region now get dual citizenship with certain conditions but it is a known fact that 90% of our NRNs have never surrendered their Nepali passports or citizenship as per Nepali laws even after acquiring foreign citizenship.