KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Nepal Electricity Authority Chief Kulman Ghising has submitted a clarification to the Energy Ministry, calling the inquiry into his leadership biased and unfair. Meanwhile, NEPSE dropped by 46.33 points, reflecting market volatility. Finance Minister Bishnu Poudel urged ministries to prioritize large-scale projects over smaller plans in the 2025/26 budget.
Farmers in Manang welcomed much-needed snowfall, benefiting agriculture. Tara Air suspended flights to Mugu, Humla, and Jumla, citing financial losses. Lastly, gold prices rose by Rs 100 per tola, reaching Rs 170,300 per tola in the domestic market.
Kulman Ghising submits clarification to Energy Ministry
Nepal Electricity Authority Executive Director Kulman Ghising has submitted his response to Energy Minister Deepak Khadka after being asked for a clarification regarding his leadership.
Ghising, who has been credited with ending load shedding in Nepal, defended his tenure, calling the demand for clarification biased and unfair. His response follows a Cabinet decision last Wednesday instructing him to justify his actions as NEA chief.
With increasing scrutiny on Ghising’s leadership, the situation is being closely watched, especially amid ongoing challenges in Nepal’s energy sector.
NEPSE down by 46 points
Nepal’s stock market saw a sharp decline on Sunday, with the Nepal Stock Exchange (NEPSE) index falling by 46.33 points to 2,772.10. The market dropped 1.64%, with 272.2 million shares worth Rs 10.93 billion traded.
By the closing bell, share prices of 217 companies declined, while 24 companies saw gains, and 2 companies remained stable. The sharp fall highlights continued volatility in the market.
Finance Minister urges focus on large-scale projects
Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has instructed ministries to avoid proposing plans and programs below Rs 30 million in the upcoming budget for fiscal year 2082/083.
In discussions with the Ministry of Drinking Water and the Ministry of Federal Affairs and General Administration, Poudel emphasized the need for transformative, high-impact projects aligned with national priorities, urging ministries to shift away from fragmented, small-scale plans.
Farmers in Manang relieved as snowfall arrives
After weeks of concern over dry conditions, snowfall in upper Manang has brought relief to farmers. While district headquarters Chame and higher-altitude areas have received snow, lower regions remain dry.
Local farmer Yangdung Gurung expressed optimism, stating that snowfall is essential for agriculture and water sources. The fresh snow has also covered the mountains, restoring the region’s winter landscape.
Tara Air suspends flights to Mugu, Humla, and Jumla due to financial losses
Tara Air has announced the suspension of its regular flights from Surkhet to Mugu, Humla, and Jumla, citing financial losses incurred on each flight.
The private airline operator, in collaboration with Himali Travels and Tours, had launched these services in December 2024, with the flights inaugurated by Karnali Province’s Minister for Industry, Tourism, Forests, and Environment, Suresh Adhikari.
Gold price rises by Rs 100 per tola
The price of gold in the Nepali market increased by Rs 100 per tola on Sunday, the first trading day of the week.
According to the Federation of Nepal Gold and Silver Dealers, gold is now being traded at Rs 170,300 per tola, up from Rs 170,200 per tola on Friday.
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