KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Government fails to meet expected foreign aid targets
The government is unlikely to meet its foreign aid targets for the current fiscal year, with only 14.8% of the annual goal achieved in the first six months.
According to Finance Minister Bishnu Paudel, who shared the data at a press conference on Sunday, the government has secured Rs 7.72 billion in foreign grants, far below the target of Rs 52.33 billion set for the fiscal year.
While this marks a 4.8% increase in grant receipts compared to the same period last year, the amount still falls significantly short of expectations.
Govt’s outstanding debt exceeds Rs 2.53 trillion
The government’s outstanding debt has surpassed Rs 2.53 trillion as of mid-December 2024, according to the half-yearly review report for the fiscal year 2024/25 published by the Public Debt Management Office.
The debt has increased by Rs 102 billion in just the last six months, rising from Rs 2.43 trillion at the beginning of the fiscal year to Rs 2.53 trillion.
Gold and silver prices drop
The prices of gold and silver have declined in the local market today, following a similar trend in the international market.
According to the Federation of Nepal Gold and Silver Dealers Association, gold dropped by Rs 800 per tola, bringing its price to Rs 157,100 per tola, compared to Rs 157,900 on Friday.
Silver also witnessed a significant fall, with its price decreasing by Rs 30 per tola, now standing at Rs 1,860 per tola, down from Rs 1,890 last Friday.
NEPSE closes at 2,601.21
The Nepal Stock Exchange (NEPSE) closed on a positive note on Sunday, gaining 12.58 points to reach 2,601.21, marking a 0.48 percent increase.
A total of 12,982,619 shares, worth over Rs. 7.25 billion, were traded today. The market saw price increases in 171 companies, while 68 experienced a decline, and the prices of 4 companies remained unchanged.
A total of 325 companies were traded, with 72,540 shares exchanged during the trading session.
Hotel Barahi Kathmandu bags Eco Footprint Certificate
Travel Operators for Tiger (ToFT) has awarded Hotel Barahi Kathmandu with the ‘Eco Footprint’ certificate.
It was informed in a programme held here today that the certificate was provided to Barahi Kathmandu, citing the hotel has included the good practices and social aspects effectively in sustainable development while maintaining environmental balance.
General Manager of Barahi Hotel Roshan Sapkota said that the hotel received the certificate after evaluation based on various criteria. According to him, ToFT has awarded the certificate to the hotel as an ‘Outstanding Practice Accommodation Provider’ for the period from September 2024 to August 2027.
Construction entrepreneurs protest with 14 demands
The government’s consistent shortcomings in capital expenditure have significantly affected the economy. Experts point out that the inefficiency in capital spending impacts all sectors of the economy. However, the construction industry, which bears a crucial role in capital projects, often finds itself compelled to protest annually to address its grievances.
The construction entrepreneurs have raised 14 issues, including the rising cost of construction materials, delayed payments, extension of project deadlines, loan facilities, problematic contracts, and amendments to public procurement regulations.
42 kilometers blacktopped in the eastern section of Madan Bhandari Highway
In the eastern section of the Madan Bhandari Highway, stretching from Bahundangi in Jhapa to Dharan in Sunsari, 80% of construction has been completed. The federal government has already invested NPR 7.9 billion in the project.
According to Subash Kumar Dutta, the Information Officer at the Madan Bhandari Highway Project Office in Damak, the construction of the highway, spanning 95.8 kilometers in total, began in the fiscal year 2076/77.
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