KATHMANDU: Welcome to Nepal News’ Evening Economic Brief—your go-to source on key financial updates in Nepal. Stay informed with concise insights on market trends, economic indicators, and policy shifts. Here are today’s top economic news highlights:

NEPSE Nears 2,700 Mark as Hydropower Leads the Surge: On Wednesday, the Nepal Stock Exchange (NEPSE) index approached the 2,700-point threshold, climbing 7.01 points from the previous day to close at 2,696. During intraday trading, the index reached as high as 2,704 points. Despite the rise in the market, the total trading volume saw a slight decline. While transactions worth NPR 8.54 billion were recorded the previous day, the total turnover today stood at NPR 7.26 billion.

Share prices of 147 companies increased, 97 declined, and 2 remained unchanged. Hydropower stocks were notably favored by investors, with the hydropower sub-index rising the most by 1.63 percent. Other sectors also saw gains, with banking up 0.39 percent, development banks up 1.11 percent, life insurance up 0.05 percent, non-life insurance up 0.55 percent, and the trading sector up 0.11 percent.

NRB to Raise NPR 30 billion through Deposit Collection: Nepal Rastra Bank is set to collect NPR 30 billion in deposits on Tuesday as part of its efforts to manage excess liquidity in the market. The central bank will utilize the deposit collection tool to absorb this liquidity. The bank will collect the funds through a bidding process, which will take place at 3pm today.

The deposits will be collected for a period of 21 days, and commercial banks, development banks, and financial companies are eligible to participate. They will need to propose interest rates through the bidding process. Banks can engage in multiple rounds of bidding, with preference given to the lowest interest rate proposals. Currently, there is excess liquidity in the banking system, and Nepal Rastra Bank has been regularly conducting such bidding processes to manage it. Today, the bank will collect NPR 30 billion through this mechanism.

Foreign Investors Approved to Repatriate NPR 9.49 billion in Dividends and Royalties: Foreign investors in Nepal have been granted approval by the Department of Industry to repatriate dividends totaling NPR 9.49 billion (approximately USD 95.5 million) for the current fiscal year, from Shrawan to Chait. During the same period last year, approvals were granted for the repatriation of NPR 9.01 billion (approximately USD 90 million) in dividends.

According to the department, over the past nine months, foreign investors have also been approved to repatriate royalties amounting to NPR 1.47 billion (approximately USD 14.7 million). This includes foreign currency approvals of USD 930,000, INR 383.5 million, and EUR 61,431. In comparison, during the same period last fiscal year, royalties worth NPR 1.7 billion (approximately USD 17 million), USD 1.05 million, INR 554.6 million, and EUR 61,431 were also approved for repatriation.

CAAN Requests Qatar Airways to Launch Direct Flights to Bhairahawa and Pokhara: Pradeep Adhikari, the Director General of the Civil Aviation Authority of Nepal (CAAN), has urged Qatar to connect Nepal’s cities of Bhairahawa and Pokhara through direct flights. During a meeting on Tuesday with Mohammed bin Fleh Al Hajri, the Chairman of the Qatar Civil Aviation Authority (QCAA), Adhikari requested the initiation of commercial flights to Gautam Buddha International Airport (GBIA) in Lumbini and Pokhara International Airport (PIA) via Qatar Airways.

However, Qatar Airways is not yet ready to operate commercial flights to both Bhairahawa and Pokhara airports. After Tribhuvan International Airport (TIA) underwent a 10-hour closure for upgrades, Qatar Airways made half of its scheduled flights to Bhairahawa, with flights operating from Kartik 27 to Mangsir 15 for passengers who had already booked tickets (Qatar–Bhairahawa–Kathmandu–Qatar).

New Nepal Rastra Bank Governor to Be Appointed Soon, Says Government Spokesperson: Government spokesperson and Minister for Communication and Information Technology, Prithvi Subba Gurung, stated on Wednesday that top leaders of the ruling coalition have reached an agreement on appointing a new governor for Nepal Rastra Bank. Speaking at a press briefing following the cabinet meeting, he said the appointment would be made “as soon as possible.” Gurung revealed that Prime Minister KP Sharma Oli and Nepali Congress President Sher Bahadur Deuba discussed the matter on Tuesday evening and agreed on a candidate. While political bargaining had delayed the appointment, Gurung dismissed bribery allegations, calling them baseless and politically motivated.

Banks and Financial Institutions Now Hold Majority Stake in Taragaon Regency Hotels: Government Report: A government study has revealed that banks and financial institutions now own 54.73% of Taragaon Regency Hotels, located in Boudha and operated under an international chain. Initially established as a government-owned project, the hotel’s ownership has shifted over time due to share conversions. The report, released Tuesday by the Ministry of Culture, Tourism and Civil Aviation, was prepared by a committee led by former Acting Auditor General Maheshwar Kafle. It highlights that the increase in bank ownership stems from the conversion of Rs 212 million in preference shares into ordinary shares on July 14, 2014—originally issued in 2007 during debt restructuring. This conversion significantly diluted the stakes of the Taragaon Development Committee, private investors, and the general public. The committee’s share has now dropped to just 9.01%. Despite increased share capital—from Rs 750 million to Rs 1.89 billion—the government’s stake has eroded, partly due to missed opportunities to purchase preference shares.

Infrastructure Key to Reviving Economy, Says Deputy PM Prakash Man Singh: Deputy Prime Minister and Minister for Urban Development Prakash Man Singh emphasized the importance of infrastructure development to revitalize Nepal’s economy. Speaking at the inauguration of the Lohandra Bridge on Wednesday, which connects Jahda and Katahari rural municipalities in Morang, Singh highlighted how the permanent bridge would ease daily travel and stimulate local economic activity. He expressed confidence that such projects improve citizens’ livelihoods. Singh added that the government is committed to ensuring people’s rights and fostering development to make daily life and livelihood easier for all, aligning with the broader goals of democratic governance and inclusive progress.

Prabhu Bank CEO Ashok Sherchan Secures Interim Stay from Supreme Court: Prabhu Bank CEO Ashok Sherchan has received an interim stay order from the Supreme Court, halting a Patan High Court decision that would have ended his tenure on Baisakh 9. The High Court had ruled that Sherchan’s term would automatically end under the Bank and Financial Institution Act (BAFIA), which limits a CEO’s tenure to two terms or eight years. Sherchan, however, argued that his first term began after a merger with Century Bank, making his current term the second, not third. Justice Til Prasad Shrestha’s single bench issued the interim order, temporarily allowing Sherchan to retain his position.

Supreme Court Convicts Unity Life Directors in Decade-Old Fraud Case: The Supreme Court has found the directors of Unity Life International guilty in the widely discussed fraud case that dates back over a decade and a half. The verdict includes both prison sentences and financial penalties, along with a provision to return defrauded funds to the victims. A joint bench of Chief Justice Prakash Man Singh Raut and Justice Til Prasad Shrestha issued the ruling, which orders compensation for ordinary citizens who were swindled by the company.

According to Supreme Court spokesperson Achyut Kharel, Unity Life Chairman Kashiram Gurung, along with directors Bhim Bahadur Gurung, Indra Bahadur BK, Netra Rajbanshi, Krishna Bahadur Kshetri, and Mahendra KC, have each been sentenced to two years and six months in prison. They have also been fined NPR 25,000 each. In the case of the deceased director Bishnu Bahadur Kshetri, both the prison sentence and fine have been waived.

Edible Oil Prices Drop in Local Nepali Market: The price of edible oil has decreased in the local market. Data provided by the Nepal Retail Trade Association has shown a decline in oil prices.

According to the retail price list of food items published by the Association on the 1st of Baisakh (April 14), the price of sunflower oil and soybean oil has dropped by Rs. 5 per liter.

The Association regularly publishes the retail price list of food commodities on the 1st and 15th of every Nepali month. Currently, roasted mustard oil, raw mustard oil, sunflower oil, and soybean oil are available for purchase in the market.

Spring Brings Surge in Tourists to Mount Everest Region: The snow-covered walls, the aroma of Sherpa culture, and the breathtaking views of the Himalayan beauty continue to attract thousands of tourists to the Everest region. With the arrival of spring, the number of visitors to the Everest region has increased.

According to the Sagarmatha National Park office, 12,003 tourists visited the Everest region last month.Ranger Bibek Shrestha of the National Park stated that the increase in tourist arrivals is due to the favorable conditions for mountaineering, trekking, and enjoying the Himalayan views during this season.

Sita Airplane Makes Emergency Landing Due to Hydraulic Failure: A Sita Air plane experienced a hydraulic failure on Wednesday morning. The aircraft, which took off from Lukla heading to Ramechhap, was diverted to Kathmandu after encountering a technical issue and made an emergency landing. The aircraft, carrying 14 passengers, was towed to the parking area by a tractor after the emergency landing.

After necessary preparations, the aircraft landed safely and is now in normal condition. The Dornier aircraft, with flight registration 9N AIE, indicated a problem with the hydraulic pressure system, which led to the emergency landing.

Nepal Makes Meaningful Participation in 47th IFAWPCA Conference in Singapore: Nepal made a significant presence at the 47th conference of the International Federation of Asian and Western Pacific Contractors’ Associations (IFAWPCA), held in Singapore. A delegation led by Rabi Singh, President of the Federation of Contractors’ Associations of Nepal (FCAN), represented Nepal at the event.

Addressing the conference as the head of the Nepali delegation, Singh emphasized the need for cooperation among member nations of regional organizations like IFAWPCA for the advancement of the construction industry. Amid ongoing challenges in the construction sector, the 47th IFAWPCA conference was held in Singapore under the theme “Embracing Tomorrow’s Construction.” Nepal also took part in various committee meetings conducted under IFAWPCA during the conference.

Nepal’s Food Testing Laboratories Receive Mutual Recognition from India: The requirement for food products exported from Nepal to undergo testing in India has ended. This comes after two laboratories in Nepal received international accreditation for food testing. The Nepal National Food and Feed Reference Laboratory under the Department of Food Technology and Quality Control, and the laboratory at the Food Technology and Quality Control Office in Biratnagar, have been internationally recognized by India.

With India’s decision to mutually recognize the quality testing certificates for 8 food categories exported from Nepal, the complexities in food testing and certification have been resolved.  The Food Safety and Standards Authority of India (FSSAI) and the National Board for Testing and Calibration Laboratories (NABL) have granted mutual recognition to two laboratories in Nepal. This recognition means that food products tested in these laboratories in Nepal will now receive reports that are internationally accepted, facilitating access to global markets.

Nepal Aushadhi Limited Halts Production of Paracetamol and Jiban Jal: Nepal Aushadhi Limited has halted the production of Paracetamol (Cetamol) and Jeevan Jal for the past one and a half months. The state-owned pharmaceutical company was forced to suspend production after the Ministry of Health failed to advance the procurement process for medicines.

Despite purchasing a large quantity of raw materials to ramp up production, the company was unable to sell the medicines in the market due to lack of procurement from various government agencies. As a result, production had to be stopped, according to the company’s General Manager Kailash Kumar Paneru. Currently, medicines worth around NPR 15 million are sitting idle in the company’s stock, with Paracetamol and Jiban Jal making up the largest portion of the unsold inventory.

Reliable Life Insurance Opens Applications for Reliable Samriddhi Scheme Mutual Fund: Applications for the Reliable Samriddhi Scheme mutual fund, aimed at promoting the fund under Reliable Life Insurance, have opened today, Wednesday. A total of 10 million units will be issued at a face value of 10 per unit. Of these, 14% will be allocated to the scheme manager, Reliable Capital, and 15% to the fund promoter. The remaining 8.5 million units will be available for public sale.

Investors wishing to apply for this mutual fund can do so by the 7th of Baisakh at the earliest, and by the 17th of Baisakh at the latest if the entire offering is not sold out within the initial period. Applications can be made through the online system, MeroShare, with a minimum application of 100 units and a maximum of up to 10 million units.

Construction of Small Bridges Completed on Narayanghat–Butwal Road East Section: All small bridges under the eastern section of the Narayanghat–Butwal road, part of the ongoing four-lane expansion of the East-West Highway, have been completed. A total of 22 small bridges in the Gaindakot–Daunne section of the eastern stretch have been finished.

According to Engineer Shiva Khanal, Information Officer of the Narayanghat-Butwal Road Project Eastern Section, bridges shorter than 25 meters have been categorized as small, while those longer than 25 meters are considered large bridges. “Most of the small bridges that have been completed are already in operation for vehicular traffic,” he said, adding, “Two of the completed large bridges are also now operational.” Out of the 12 large bridges planned for this section, five have already been completed.

SC Issues Interim Order in Favor of Prabhu Bank CEO Ashok Sherchan: The Supreme Court has issued an interim order in favor of Prabhu Bank’s Chief Executive Officer (CEO) Ashok Sherchan regarding the interpretation of a ruling by the Patan High Court concerning the tenure of a bank CEO. Sherchan had filed a writ petition at the Supreme Court on Chaitra 31, 2081 (April 13, 2025), challenging the Patan High Court’s interpretation.

The petition was filed against Nepal Rastra Bank and the Patan High Court as respondents. During the hearing on Wednesday, a single bench of Justice Til Prasad Shrestha issued a show cause order and granted an interim stay in favor of Sherchan.

Mandu Hydro Power Expands Capacity of Bagmati Small Hydropower Project: Mandu Hydropower Company has increased the capacity of its Bagmati Small Hydropower Project. The project, originally designed for 22 megawatts, has been upgraded by adding 10 megawatts, bringing its total capacity to 32 megawatts. The company has completed the electricity production license and power purchase agreement following the capacity expansion.

Additionally, the company has announced that the reconstruction of the project, which was damaged by floods and landslides during the heavy rains on 11th and 12th of Ashoj 2081, will be completed in the near future and the plant will soon be operational again.

Maldhunga–Beni Road Upgraded to 11 Meters with Paving and Asphalt Work Underway: The 13-kilometer-long Maldhunga–Beni road is being expanded to a width of 11 meters, with rapid progress in paving and asphalting. Engineer Bishnu Chapagain, overseeing the road upgrade project, shared that 5 kilometers and 200 meters of asphalt have been laid from Maldhunga toward Jaljala Rural Municipality-8 Nagliwang, and an additional 5 kilometers of paving work is planned for the Kerabari–Milanchok–Lamakhet section.

The road upgrade project, which began four years ago with a contract worth NPR 528.6 million, has not been completed on schedule due to a shortage of river-based construction materials.

Engineer Bishnu Chapagain explained that delays in demolishing houses and structures in the areas of Parbatbaini, Milanchok, and Lasti Bazaar, which fall within the road’s jurisdiction, have also affected the progress of the construction work. Additionally, nearly 2 kilometers of the road have already been surfaced with gravel.

Lumbini Province Spends 38.7% of Budget in First Nine Months of Fiscal Year 2081/82: The Lumbini Province Government has spent 38.7% of its budget for the fiscal year 2081/82 during the first nine months. The total expenditure, including both current and capital expenditures, has reached NPR 13.86 billion by the end of Chaitra (mid-April), according to the Provincial Controller’s Office.

The total budget for the fiscal year 2081/82 was NPR 35.82 billion. Of this, NPR 9.49 billion was spent on capital expenditures, which accounts for only 38.56% of the capital expenditure budget, while NPR 4.39 billion was spent on current expenditures, representing 38.7% of the total current expenditure budget of NPR 11.24 billion. The remaining unspent balance is expected to be used in the upcoming months.

Jumla Agricultural Development Office to Provide Interest Subsidy for Co-operative Members: The Agricultural Development Office in Jumla has announced that it will provide an interest subsidy to shareholding members of co-operative societies engaged in agricultural businesses. For any member of a co-operative who has taken out a loan for agricultural business, the Agricultural Development Office will pay 10% of the total interest on the loan, provided the member meets the necessary requirements.

This interest subsidy service will be available to co-operative members who belong to cooperatives with a capital of over NPR 5 million, have completed all legal procedures, and provide loans for agricultural activities. In the first phase, the Agricultural Development Office in Jumla has signed an agreement with Pugali Savings and Credit Co-operative, located in Hima Municipality, Ward No. 1, Acharyalihi, to cover 10% of the interest on loans taken by shareholding members for agricultural business.

Daraz Announces Launch of Daraz Future Leadership Program 2025: Daraz has officially announced the launch of the Daraz Future Leaders Program (DFLP) 2025. This is a group-wide management trainee program that will be conducted simultaneously in Nepal, Pakistan, Bangladesh, and Sri Lanka.

The main objective of the program is to identify and nurture future leadership-capable local talents while further enriching the e-commerce sector. Scheduled to begin in July 2025, the program will run for 15 months in a rotational format. Under this initiative, participants will have the opportunity to undergo structured rotational training across the company’s key departments.

Gold Reaches Record High of NPR 187,000 per Tola: The price of gold has reached a new all-time high of NPR 187,000 per tola (11.66 grams), the highest ever recorded. On Tuesday, gold was trading at NPR 184,300 per tola, but today it increased by NPR 2,700, according to the Federation of Nepal Gold and Silver Dealers Association.

Meanwhile, silver prices have risen slightly to NPR 1,955 per tola, up by NPR 10 from the previous day’s trading. In the international market, the price of gold is currently trading at approximately 3,285 USD per ounce.