Khabarhub brings you a glimpse of major developments of the day in Nepal, including politics, business/economy, sports, entertainment, and more.
Over Rs. 600 billion unused in banks amid stagnant loan demand
Despite a substantial increase in funds available for investment in banks and financial institutions, amounting to over Rs. 600 billion, a lack of demand for loans has left much of it untouched. While deposits continue to rise, there hasn’t been a corresponding uptick in lending, leading to a surplus of funds available for lending every month. From the beginning of Fiscal Year 2080/81 until Friday (May 31), loans worth Rs. 245 billion were disbursed against deposits totaling Rs. 456 billion.
Madhes province politics: Unified Socialist exits from JSP-led govt
The CPN-Unified Socialist Party ministers have resigned from the Madhes government led by the Janata Samajbadi Party. Two ministers from the Unified Socialist Party tendered their resignations to Chief Minister Saroj Kumar Yadav on Tuesday. Minister for Land Management, Agriculture, and Cooperatives, Govinda Neupane, and Minister for Labor and Transportation, Bechi Lungeli, have resigned from the government.
Govt has placed development of energy sector in top priority: PM Dahal
Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has said that the government has placed the development of the energy sector in high priority. Inaugurating the ‘break through’ of the tunnel of Arun-3 Hydropower Project based at Amrang, Makalu rural municipality-5 in Sankhuwasabha today, he stated that the government which is moving ahead prioritizing graduating to a developed country status in 2026 and attaining the sustainable development goals by 2030 has accorded high priority to the infrastructure development. “I have been directly and indirectly acquiring information about this Project. It is currently under construction stage after the signing of the power development agreement on November 25, 2014. I am pleased to know that it has made 74.09 percent progress towards production and 37.95 percent progress towards the transmission line,” he said.
MCC project will be completed on time: Finance Minister Pun
Finance Minister Barshaman Pun has assured visiting Millennium Challenge Corporation (MCC) Vice President Jonathan Brooks that the MCC project will be completed within the stipulated time. Vice President Brooks, who is currently in Nepal, along with the team under his leadership, held formal discussions at the Ministry on Tuesday. During the meeting, Minister Pun informed that the government is committed to completing the MCC project within the predetermined timeframe.
ICC T20 World Cup: Kathmandu Metropolis and Ministry of Sports arrange for free live broadcast of Nepal vs Netherlands
The ICC Men’s T20 World Cup cricket match between Nepal and the Netherlands will be broadcasted live for free. The Kathmandu Metropolitan City, in collaboration with Open Doors Entertainment and the Ministry of Youth and Sports, has prepared for the live broadcast of the game at Tundikhel, Tinkune, and Hanumandhoka. According to Alin Shrestha, the Chairman of Open Doors Entertainment, preparations are underway to boost sports enthusiasts’ morale with the free live broadcast of the ICC Men’s T20 World Cup cricket.
District Court orders reconciliation for defamation case involving Arju Deuba and Amresh Singh
District Court Kathmandu has ordered Nepali Congress (NC) lawmaker Dr. Arju Rana Deuba to settle the defamation case filed against independent lawmaker Dr. Amresh Kumar Singh through reconciliation. Judge Kamal Prasad Pokharel issued the order on Tuesday to resolve the matter through reconciliation. Deuba had filed the case against Singh on June 7, 2023. Earlier, on May 19, the defendant’s lawyers had postponed the hearing.
NEPSE witnesses a modest growth, rises by 6.22 points on Tuesday
The Nepal Stock Exchange (NEPSE) witnessed single-digit growth on Tuesday, the third trading day of the week. NEPSE rose by 6.22 points, reaching 2085.30 points following a transaction worth Rs. 4.84 billion. During Tuesday’s trading, the prices of 125 companies increased, while 114 saw a decline, and 8 companies remained stable. Investors from Global IME Microfinance were among the most successful in earning profits in Tuesday’s trading. Yesterday, NEPSE had experienced a decline of 3.97 points.
RPP Chair urges Finance Minister to revoke tax hike on electric vehicles
Rastriya Prajatantra Party (RPP) Chair Rajendra Lingden has urged Finance Minister Barshaman Pun to reconsider the tax increase on electric vehicles. During the budget deliberation in the House of Representatives on Tuesday, he expressed concern that the tax hike on electric vehicles contradicts the government’s previous commitments to the environment. “The decision to significantly increase taxes on electric vehicles goes against the government’s earlier environmental pledges. Therefore, I appeal to Finance Minister Pun to withdraw the proposed tax hike from the budget,” stated the RPP Chair.
UML urges Balen to refrain from making provocative statements
CPN (UML) lawmaker Yogesh Kumar Bhattarai has urged the Mayor of Kathmandu Metropolitan City, Balendra Shah, to refrain from making provocative statements towards political leadership. During today’s special session of the House of Representatives, Leader Bhattarai raised objections to Mayor Shah’s remarks mocking the imprisonment of political party leaders who played significant roles in bringing about epoch-making political changes in the country. “We are prepared to support Mayor Shah. The CPN (UML) Chair, KP Sharma Oli-led government, had previously extended support for waste management in the Kathmandu Valley,” he stated. Addressing Mayor Shah directly, Lawmaker Bhattarai emphasized, “What are your plans to enhance the beauty of Kathmandu? Let’s collaborate and work together. I urge you not to engage in disorderly activities.”
Gold price up by Rs 1,700 per tola today
The price of gold increased by Rs 1,700 per tola in the domestic market today. The price of gold has been fixed at Rs 141,000 per tola, marking an increase of Rs 1,700 per tola compared to the previous trading day. On Monday, the yellow metal was traded at Rs 141,000 per tola. Today, the Federation of Nepal Gold and Silver Dealers’ Association has set the price of standard gold at Rs 142,000 per tola.
KMC arranges 374 beds for helpless at 52 hospitals
The Kathmandu Metropolitan City (KMC) has arranged 374 beds across 52 hospitals to provide free treatment for helpless and poor individuals. As per KMC’s directive, private hospitals are required to allocate a minimum of 10 percent of their beds and offer free treatment to these indigent patients. Dhanendra Shrestha, a public health inspector at KMC’s health department, reported that 70 patients have benefited from the scheme since its launch last February. Most of these patients are from outside the capital city. This initiative came after private hospitals were found flouting legal provisions, prompting the KMC to introduce and strictly implement the “Free Treatment Work Procedure, 2080.” Additionally, KMC has established an online system to check the availability of beds, treatment services, and other schemes at private hospitals.
Over 1.8M people likely to be affected by monsoon this year
As many as 1.8 million people are likely to be affected by this year’s monsoon, according to the estimation of the National Disaster Risk Reduction and Management Authority. The Authority indicates that the monsoon, expected to bring increased rainfall, will impact more than 1.8 million people. Dr. Dijan Bhattarai, the Authority’s spokesperson, stated that over 1.81 million individuals from a total of 412,000 households are estimated to be affected in various ways. Specifically, 83,000 families are anticipated to be directly impacted, and 18,000 families will require rescue and relief efforts. In comparison, last year, 1.2 million people were estimated to be affected, while the year before that, the estimate was 2 million.
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