Nepal Economic Digest (July 08, 2020) « Khabarhub
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Nepal Economic Digest (July 08, 2020)

08 July 2020  

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KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Nepse up by 24.35 points in first one hour yesterday

Nepal Stock Exchange (Nepse) went up by 24.35 points to reach at 1,323.07 in the first hour on Tuesday.

The benchmark index which started with 1,300.41 points  at 11 am today gradually picked up and increased by 1.87 percent until 12 pm.

Nepse witnessed a transaction of 665,709 units of shares worth Rs 303,977,000 from 154 companies in the first one hour. The shares of all 12 sectors increased during the period.

Nepal imports 424,397 tons of food during lockdown

The records of the Department of Customs show that the country as of Sunday imported 122,679 tons of vegetables, 107,530 tons of pulses, 47,679 tons of fruits and 11,650 tons of dairy products from various countries since March 34.

Despite the government’s announcement to make the country self-reliant in a number of agricultural products, the agrarian country is increasingly dependent on imported food to meet its demand.

The import of cooking gas during the lockdown period stood at 112,321 tons.

Likewise, Nepal imported 208,576 kiloliters of diesel and 93,627 kiloliters of petrol in the period.

The country spent Rs 1.93 billion to import raw materials of medicines and Rs 606 million on import of ready to use drugs.

Wind power electrifies village

Residents of Mityal area at Nisdi rural municipality of Palpa district have been using electricity generated from wind.

Mityal is a remote outback in the district and the people of this area were using kerosene lamps before.

One thousand two hundred Watts wind power had been generated at Mityal on a trial basis two years back.

At present, an additional 10 kilowatts solar power and 15 kilowatts wind power have been generated at the power plant installed at Ruksebhanjyang of Mityal.

Jhama Maya Sunari, a local, who spend most of her life using kerosene lamp to light her house, is now elated with the electrification of her settlement from electricity generated from solar and wind energy.

The daily life of the people in Mityal has now become easier with access to electricity. People of Kafal, Maulathar, Ruksebhanjyang and Jhyaltung settlements in Mityal area have been benefited with the solar and wind power.

The power generation plant and installation has been done at an investment of Rs 21.5 million. One hundred forty-six houses and the rural municipality office, the police office and the school have been benefited from the wind and solar power.

Gold traded at Rs 90,900 on Tuesday

The gold price increased by Rs 700 on Tuesday.

According to Federation of Nepal Gold and Silver Dealers Association the gold was traded for Rs 90,900 per tola.

The hallmark gold was sold for Rs 90,200 per tola on Monday after the price went down by Rs 200.

Similarly, the silver was traded at Rs 950 per tola Tuesday.

(Compiled and prepared by Swastik Aryal and Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries.

Publish Date : 08 July 2020 08:11 AM

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