In three months, the price of a bag of rice in Kathmandu jumped from Rs 2,100 to Rs 2,500. Leafy vegetables are unaffordable. Cooking gas is in artificial shortage. This is not inflation. This is a failure. Every year before festivals, the same excuses appear: international crude prices, transport costs, seasonal demand.
But Nepal’s market also has middlemen who artificially raise prices. And the state does little. The government promises market monitoring. It announces 2% transport fare cuts. Yet passengers still pay inflated rates. That gap between announcement and reality is what erodes trust.
Price hikes during global tensions were understandable. Now supply chains have stabilized. There is no reason for essentials to be this expensive, except weak regulation. The government must act. Withdraw the 5% VAT on electricity above 50 units and 13% VAT on non-household use. These taxes hurt low and middle-income families most. Increase monitoring teams. Punish hoarders.
Most importantly, stop reactive governance. Don’t wait for protests to act. Create a permanent mechanism to track prices of 20 essential commodities weekly. Nepal cannot control global oil prices. But it can control its own market. Leaving citizens to "bear the brunt" is not governance. It is abdication.
As festival season nears, the cost of inaction will rise. The government must choose: regulate now, or face anger later.