Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The recent developments in Nepal’s financial and regulatory sectors highlight both opportunities and challenges.
Nepal Business Summit to be held on April 20
An international-level business summit is set to take place in Kathmandu under the coordination of the Ministry of Industry, Commerce, and Supplies, with the Nepal Chamber of Commerce and the Nepal Business Institute organizing the event. Scheduled for April 20, the second edition of the Nepal Business Summit will focus on promoting a sustainable and self-reliant economy.
Stock market continues to decline
The decline in the Nepal Stock Exchange (NEPSE) index persists as it drops to 2,818.43, marking a 2.7-point loss. The stock market has been on a downward trajectory for the past four days, with a turnover of over 10 billion rupees, indicating ongoing volatility in the market.
Cooperative savers demand return of funds
Nine organizations representing cooperative savers have called for the immediate return of depositor funds. The National Campaign for the Protection of Cooperative Savers (FNCSC) and other related groups held a press conference demanding action against those responsible for misappropriating the funds.
Road construction in Lamjung halted
The construction of a two-kilometer stretch of road under the East-West Pushpalal (Mid-Hill) Highway in Lamjung has been halted due to obstruction from locals. This road segment is part of the larger 45 km project in Lamjung, which has also faced delays in other areas due to similar issues.
Prime Minister’s Employment Program seeks applications
Several local governments in Tanahun district are calling for applications to join the Prime Minister’s Employment Program, which aims to provide minimum employment opportunities. The program is being run with the support of the Ministry of Labor, Employment, and Social Security.
Prime Minister inaugurates paper factory
Prime Minister KP Sharma Oli has inaugurated the ‘Nepal Pulp and Paper Industries’ in Mahottari. The new industry, established by IME Group, is expected to reduce paper imports and create employment for around 300 people by producing paper from recycled materials.
Air service suspension in Taplejung
Suketar Airport in Taplejung has suspended regular air services after two aircraft of Nepal Airlines Corporation broke down. One aircraft has been under repair since Dashain, while the other has been grounded since December end.
Bridge project delayed for eight years
A bridge connecting Kavrepalanchok and Makawanpur in Bagmati province has been delayed for eight years, despite a two-year contract for construction. The project, which has faced numerous setbacks, remains unfinished, prompting complaints from the Ministry of Physical Infrastructure.
Tanahun Hydropower transmission line delayed
Construction of the transmission line for the 140 MW Tanahun Hydropower Project has been delayed. While the physical work inside the underground power house is 66% complete, the transmission line’s construction remains behind schedule.
Pharmaceutical expansion in Birgunj-Palthaiya
Magnus Pharma, located in the Birgunj-Palthaiya Industrial Corridor, is increasing its investment by one billion rupees to expand its operations. The company is set to begin producing ‘injectable’ medicines by next April, further boosting the local pharmaceutical sector.
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