KATHMANDU: Economic Digest presents a brief yet comprehensive roundup of major business developments in Nepal, delivered in clear and accessible summaries.
The developments highlight the intersection of economic continuity, public accountability, community resilience, and disaster preparedness in Nepal. The blacklisting of three construction companies for two years reflects efforts to strengthen procurement discipline and hold contractors accountable, although effective enforcement and transparent monitoring remain essential. Meanwhile, Nepal Rastra Bank’s decision to maintain RTGS services during the Chhath public holiday demonstrates the importance of uninterrupted financial infrastructure in supporting commercial transactions and banking liquidity.
However, reduced business activity during the festival illustrates how religious observances and public holidays influence economic operations. In rural areas, rising human-elephant encounters in Jhapa underscore the need for stronger wildlife management and agricultural protection measures. At the same time, entrepreneurship initiatives in Machhapuchhre highlight the potential of local resources to generate employment and discourage migration. The fire at Madhyapur Thimi further exposes vulnerabilities in high-rise fire safety, emphasizing the need for improved electrical inspections, emergency preparedness, and effective firefighting infrastructure.
Public Procurement Monitoring Office blacklists three construction companies for two years
The Public Procurement Monitoring Office, operating under the Office of the Prime Minister and Council of Ministers, has blacklisted three construction companies for two years, barring them from participating in public procurement processes. The action was taken following recommendations from the concerned local authorities. The companies placed on the blacklist are National Construction of Makwanpur, the joint venture of Bamti Bhandar and Narsingh JV of Mahottari, and Nagarjun Construction Company of Dadeldhura. In a public notice issued on Saturday, the office stated that the restrictions had come into effect immediately and would apply across all public procurement agencies.
NRB to keep RTGS system operational during public holiday
Nepal Rastra Bank (NRB) has announced that its Real-Time Gross Settlement (RTGS) payment system will remain operational on Monday despite the public holiday. In a notice issued on Friday, the central bank stated that RTGS services would be available from 9:00 AM to 3:00 PM. The government has declared a public holiday to mark the Chhath festival. However, NRB has made arrangements to ensure uninterrupted payment settlement services to facilitate commercial transactions and maintain liquidity throughout the banking system.
Business activities slow as Chhath festival celebrations continue
Business activities across the country remained largely subdued on Saturday as the weekly public holiday coincided with the ongoing Chhath festival. Markets, commercial establishments, and offices recorded limited activity as people engaged in festival preparations and religious rituals. Devotees across the country observed Kharna, the second day of the four-day festival, on Saturday. They will worship the setting sun on Sunday, while the festival will conclude on Monday with prayers to the rising sun.
Authorities urge farmers in Bahundangi to harvest paddy amid rising elephant movement
The District Administration Office, Jhapa, has urged farmers in the elephant-affected Bahundangi area to harvest their mature paddy crops promptly amid increased movement of wild elephants entering from neighboring India. Following an incident in which a local farmer was injured, senior administrative and security officials visited Mechinagar Municipality-4 on Friday to assess the situation and coordinate additional safety measures. Security personnel, including members of the Armed Police Force and forest staff, have been deployed to patrol agricultural areas. Local authorities have also distributed emergency equipment to help protect paddy fields during the harvesting season.
Students in Machhapuchhre identify local entrepreneurship opportunities
Students of Tarebaraha Basic School in Lumre, Machhapuchhre Rural Municipality-8, explored opportunities for entrepreneurship and employment generation during an interactive workshop held on Saturday. During the programme, students identified several potential local businesses, including bamboo and allo-based handicrafts, homestay tourism, micro-hydropower projects, and the promotion of locally produced goods such as millet, tea, cardamom, and honey. International and community development facilitators encouraged the students to make effective use of local resources and community initiatives to establish sustainable enterprises instead of seeking employment opportunities elsewhere.
Fire causes property damage worth Rs 8 million at Madhyapur Thimi complex
A fire broke out at Prajapati Complex in Radheradhe, Madhyapur Thimi-9, on Saturday morning, causing an estimated Rs 8 million in property damage on the building’s seventh floor. The fire reportedly started following an electrical short circuit at around 8:00 AM at The Tranquility Times Spa and Wellness. The incident destroyed spa equipment and fixtures worth approximately Rs 6 million, while damage to the building complex was estimated at Rs 2 million. Firefighters from Bhaktapur, along with Armed Police Force personnel and Nepal Army personnel, brought the blaze under control within approximately 1.5 hours. No casualties were reported. The incident also highlighted the difficulties involved in controlling fires in high-rise buildings.
Comment