Nepal’s crackdown on businessmen can’t have it both ways
Summary
Nepal’s crackdown on prominent businessmen is raising fears that ordinary commercial decisions could lead to criminal investigation and arrest. Business groups and bankers say the government must distinguish between corruption, regulatory breaches and legitimate risk-taking as it expands anti-graft action into private companies and banks.
Key Points
- Shekhar Golchha’s arrest and rearrest after a Supreme Court ruling have become a symbol of concerns over due process and government overreach.
- Business groups and bankers warn that expanded anti-corruption enforcement is making ordinary lending and investment decisions seem risky.
- The NIMB-Smart Telecom collateral auction case has intensified debate over whether the CIB is acting within its jurisdiction.
- Prime Minister Balendra Shah and Finance Minister Swarnim Wagle are pushing anti-capture measures while trying to reassure investors and lenders.
