KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
Nepal’s foreign trade on the rise, exports up by 31%
Nepal’s foreign trade has increased compared to the first six months of the previous fiscal year. Data published by the Customs Department shows a rise in both imports and exports during the first half of the current fiscal year.
Exports grew by 31.78%, while imports increased by 7.06%. In the current fiscal year’s first six months, Nepal exported goods worth Rs 98.78 billion, compared to Rs 74.96 billion during the same period last year.
NEPSE shows marginal improvement
The Nepal Stock Exchange (NEPSE) witnessed a slight improvement on Monday, climbing 6.78 points to reach 2607.99 points—a growth of 0.26%. A total of 12.677 million shares worth Rs 6.57 billion were traded today.
While share prices of 118 companies increased, 117 companies saw a decline, and 8 companies remained stable.
Commercial banks’ profits decline
Profits of commercial banks dropped during the first half of the current fiscal year compared to the same period last year. According to financial reports, 11 commercial banks increased their profits, while 9 banks experienced losses.
Prabhu Bank showed the highest profit increase, earning Rs 1.33 billion in the review period, up from Rs 720 million in the same period last year. Meanwhile, NIC Asia Bank recorded the highest drop in profits.
Rs 80 billion revenue collected by Birgunj Customs
Birgunj Customs Office collected Rs 80.55 billion in revenue during the first six months of the current fiscal year. The department had set a target of Rs 104.18 billion for the same period, achieving 76.84% of the target.
Finance Minister urges banks to invest in agriculture
Deputy Prime Minister and Finance Minister Bishnu Paudel highlighted issues in credit disbursement during the 58th anniversary event of the Agricultural Development Bank Limited.
Despite an increase in deposits, loans are not being adequately disbursed. He stressed the need for banks to invest in agriculture to boost production, productivity, and employment.
International clean energy conference in January
The Alternative Energy Promotion Center is organizing an international clean energy conference from January 26 to 28 to mark International Clean Energy Day. The event aims to promote awareness and initiatives for fair and inclusive energy transformation for the benefit of Earth and its inhabitants.
Complaints filed against 137 cooperatives
The number of problematic cooperatives in Bagmati Province is rising. The provincial government recently declared three more cooperatives as problematic, bringing the total to five. Complaints have been filed against 137 cooperatives in the province, according to Rajan Pokharel, Registrar at the Cooperative Registrar Office.
Contract for Jagdulla Hydropower Project re-announced
The contract for the Jagdulla Hydropower Project, set to be constructed in Mudkechula Rural Municipality, Dolpa, has been re-announced with a budget of Rs 16 billion. The initial tender, issued in May, was canceled due to all applicants failing the technical evaluation.
Cardamom sales generate Rs 220 Million
Farmers in Lamjung earned Rs 220 million from selling 150 metric tons of cardamom this fiscal year. The price per kilogram ranged between Rs 1,500 to Rs 2,400. Last fiscal year, farmers sold 251 metric tons of cardamom, earning Rs 240 million.
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