After cooperatives, the iPO fraud

There are thousands of cooperatives in operation in the country. They are doing well. Unfortunately, some ill-intentioned people under political protection, looted poor people’s deposits. Governments that were formed at different times are solely responsible for and directly involved in this looting scam. If the government had brought a strong law and also conducted monitoring properly, such VIP looters would not have had the opportunity to loot the cooperatives in a planned manner.

After cooperatives and loan shark episodes, the IPO episode is likely to surface. Some looters, by producing fake documents through networking with the government authority evaluating business houses seeking public shares, have become successful in issuing IPOs cheating commoners. One case that has surfaced is the Sita Hydropower. Project developer Sitaram Timilsina was found selling the project land ten times double what he had purchased for the project. This is an example of how those cunning people are cheating commoners.

We all know, the media industry is in problem. However, by using media influence, one media house has been able to issue IPOs and commoners rushed to purchase them. It is sure, this media house is going to face a heavy loss as the intention of issuing IPO was to cheat commoners. This Babbler had purchased some shares of the Harisiddhi Bricks and Tiles Factory decades ago. Now, the company has already collapsed and the land occupied by the factory has turned into a housing colony. This is the business.

If the government authorities do not control or monitor the activities of such public limited companies, the share market is also going to collapse.

Dalits in Nepal

Odd to see the caste discrimination in the “new” Nepal. The leaders in “new” Nepal have encouraged caste discrimination in the name of “identity” and reservation. Under the existing political system, the Dalit community permanently remains an untouchable class. In today’s world, still believing in untouchability and caste discrimination is unfortunate. No human being is superior based on caste. King Mahendra promulgated the Muluki Ain ending untouchability decades ago. All castes are equal and there is no untouchable caste in the society. However, those, who wrote the present constitution, by classifying Dalits have recognized them untouchable class forever.

The caste system should be suspended and untouchability in society should be ended. Accordingly, the dowry system has become a serious problem in society. Many innocent women, especially in the Tarai districts, are being murdered. The local administration and the local bodies should be activated to end such anomalies.