Friday, February 28th, 2025

Economic Digest: Nepal’s Business News in a Snap


28 February 2025  

Time taken to read : 6 Minute


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KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.

The recent developments in Nepal highlight a mix of political, economic, and industrial issues, underscoring the nation’s ongoing challenges and opportunities.

Kulman Ghising of the Nepal Electricity Authority has accused Energy Minister Deepak Khadka of bias, claiming that the demand for a clarification was both unauthorized and unfair.

Meanwhile, the Nepal Stock Exchange (NEPSE) saw a significant surge following the review of monetary policy, signaling positive momentum in the financial sector.

However, the Nepal Rastra Bank’s failure to prioritize green energy, as noted by the NADA Automobiles Association, raises concerns about the government’s commitment to sustainable policies.

On the economic front, Olangchunggola’s carpet production has become a significant income source for the local community, as demand increases following the reopening of borders.

Additionally, Agriculture Minister Ramnath Adhikari’s pledge to end the dependency on grants and focus on tangible actions for farmers reflects the government’s shift towards self-reliance.

Elsewhere, authorities seized a large quantity of gold at the Tribhuvan International Airport, revealing ongoing smuggling challenges.

The Birgunj checkpoint saw a surge in exports, reflecting growth in Nepal’s trade, while the Nepali paper industry faces struggles in meeting the rising demand for its high-quality products.

Collectively, these events highlight a nation navigating both economic progress and internal challenges, with significant strides in trade and infrastructure development amid political tensions and evolving market dynamics.

Kulman Ghising responds: Energy Minister Khadka’s actions are biased

Kulman Ghising, Executive Director of Nepal Electricity Authority (NEA), has accused Energy, Water Resources, and Irrigation Minister Deepak Khadka of asking for an explanation in a biased manner.

In response to the 24-hour clarification request issued by Minister Khadka on Thursday, Ghising stated that the ministry’s demand for an explanation was both unauthorized and biased.

Stock market surges by 49 points

The Nepal Stock Exchange (NEPSE) saw a significant surge on Thursday, gaining 49.15 points in a single day.

The stock market rose by 1.77%, reaching 2,815 points. A total of 26.199 million shares worth NPR 11.29 billion were traded, following the second review of the monetary policy.

Gold prices drop, silver prices rise

Gold prices decreased in the Nepali market on Thursday, while silver prices saw seen a moderate increase.

The price of gold dropped by Rs 200 per tola, with the trading price at Rs 170,300 per tola. On Wednesday, the price of gold was Rs 170,500 per tola.

In contrast, silver prices increased slightly. The price of silver went up by 5 rupees per tola, and was traded at Rs 1,945 per tola.

NRB ignores govt’s priority on green energy: NADA

The Nepal Rastra Bank has overlooked the government’s policy of prioritizing green energy, according to the NADA Automobiles Association of Nepal.

In a press release, NADA expressed concerns over the bank’s half-yearly review of the monetary policy, which, despite the government’s long-standing support for electric vehicles, failed to acknowledge this key policy priority.

High demand for Olangchunggola woven carpets

Carpet production has become the main source of income for Olangchunggola village in Taplejung’s Faktanglung Rural Municipality-7.

The traditionally woven carpets, which were previously impacted by the COVID-19 border closure, are now being exported to China with high demand following the reopening of the border.

Local entrepreneur Phupalhamu Shrestha confirmed the positive impact on the rural economy, with prices of carpets ranging between NPR 10,000 to 25,000 in the Nepali market.

Agriculture Minister Adhikari pledges to end reliance on grants

Minister for Agriculture and Livestock Development Ramnath Adhikari has vowed to end the trend of seeking grants by visiting Singha Durbar.

At an interaction program in Kathmandu, he emphasized that his ministry has worked decisively in favor of farmers, focusing on tangible actions and decisions benefiting agriculture during his eight months in office.

Gold seized at Tribhuvan International Airport

Police have seized 3 kilograms and 745 grams of gold at Tribhuvan International Airport.

Four foreign nationals, including three women and one man, were arrested after arriving from Dubai late at night.

The suspects—Akhmadjanovna Dilfuzha Marif Aliv, Israelovna Saodat Fejiva, Sardor Trusanov, and Gulmadjanovna Umid Akhmedov—were caught with the gold, according to Senior Superintendent of Police Somendrasingh Rathore, Head of the Tribhuvan International Airport Security Office.

Over NPR 40 billion worth of goods exported through Birgunj checkpoint

Goods worth NPR 40.34 billion have been exported through the Birgunj customs checkpoint in Parsa during the first seven months of the current fiscal year (FY).

This marks a significant increase in exports, almost doubling compared to the same period last fiscal year, when goods worth NPR 17.80 billion were exported.

Rising demand for Nepali paper

The demand for Nepali paper, renowned for its high quality and traditional production methods, continues to rise, especially for government functions and handicrafts.

However, local entrepreneurs, such as Saran Thami, who has been running a paper industry in Bhadrabas, Kageshwori Manohara Municipality for 18 years, report difficulty meeting the increasing demand despite its growing popularity.

Publish Date : 28 February 2025 08:23 AM

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