KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
During the Laxmi Puja of this year’s Tihar festival, Nepal recorded a peak electricity demand of 1,602 megawatts at 6:25 PM, marking an increase of 164 megawatts compared to the 1,438 megawatts recorded last year.
In the capital, Kathmandu, local markets are bustling with the sale of flower garlands, as Tihar is renowned as the festival of flowers.
This year, there has been a significant production of flowers like Makhamali and Godawari, boosted by a ban on plastic garlands.
Meanwhile, in financial news, around Rs 50 million has been embezzled from the Nagdhunga Saving and Credit Cooperative, leading to the arrest of the cooperative’s treasurer after depositors raised complaints about the missing savings.
1,602 megawatt power demanded on Laxmi Puja
High demand of electricity (peak demand), 1,602 megawatt, has been recorded in Laxmi Puja of this year’s Tihar festival.
According to the Nepal Electricity Authority, the peak demand was recorded at 6:25 pm on Thursday, the day of Laxmi Puja.
The peak demand of power was recorded 1,438 megawatt on Laxmi Puja last year. The high demand of electricity was more by 164 megawatt this year as compared to previous year.
Tihar blooms: Flower garlands hit market
In anticipation of the Tihar festival, local flower garlands are being sold in various sparts of the capital, Kathmandu.
Tihar is particularly known as the festival of flowers. With the local authority’s ban on plastic garlands, farmers and traders are pleased to promote their products.
According to the Floriculture Association of Nepal (FAN), there has been an abundant production of Makhamali (Gomphrena globosa) and Godawari (Chrysanthemums) flowers this year.
Around Rs 50 million of Nagdhunga Cooperative embezzled
Around Rs 50 million of Nagdhunga Saving and Credit Cooperative operated at Karkineta of Phalebas municipality-1 has been embezzled.
A total of Rs 48 million savings of people from rural areas was embezzled. Cooperative Treasurer Dirgha Narayan Sharma has been arrested after depositors filed complaint of embezzlement of their savings.
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