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 highlights:

Governor Adhikari’s Term Ends Amid Delay in Successor Appointment: Maha Prasad Adhikari’s five-year term as the 17th Governor of Nepal Rastra Bank concluded today. Although the law mandates appointing a new governor one month before the incumbent’s term ends, the process was delayed due to PM KP Sharma Oli’s foreign engagement. The recommendation committee led by Finance Minister Bishnu Poudel has yet to meet. If no appointment is made, the senior deputy governor may be named acting governor, though the law does not clearly provide for this in case of regular retirement. Leading candidates include Neelam Dhungana, Rabindra Pandey, and Rajendra Kishore Kshetri, with age limits reportedly waived.

Stock Market Growth: Investor Wealth Rises by NPR 66.5 billion: Last week, the value of assets for stock investors increased by approximately NPR 66.5 billion. During this period, the Nepal Stock Exchange (NEPSE) index rose by an average of 40 points, pushing the total market capitalization to NPR 44.89 trillion. This represents an increase of about NPR 66.5 billion compared to the previous Thursday, when the total market capitalization was NPR 44.22 trillion.

Last week, stock trading occurred for only four days, during which the NEPSE index rose by nearly 57 points over three days (Sunday, Wednesday, and Thursday). However, on Tuesday, the index fell by about 17 points. On average, the NEPSE index rose by approximately 40 points last week. The NEPSE index, which closed at 2,663.30 points the previous Thursday, increased to 2,703.39 points by the end of last week.

Dr. Shekhar Koirala Warns Government Against Manipulating Economy: Nepali Congress leader Dr. Shekhar Koirala has stated that the government has no right to manipulate the economy. Commenting on rumors of middlemen gaining influence in the appointment of the Governor of Nepal Rastra Bank, Dr. Koirala warned the government against playing games with the economy.

He emphasized, “If middlemen are gaining influence in the governor’s appointment, it will challenge the government. It will not only be unfortunate for the government but also for Nepal. This is an extremely serious matter.”

Speaking at the launch of Dr. Suman Koirala’s book Katroma Khaltī in Kathmandu, Dr. Shekhar Koirala also criticized the current government for failing to ensure good governance.

Luxury Tourists on National Geographic Charter Jet Visit Nepal: Seventy-seven wealthy global tourists arrived in Nepal aboard a luxurious Boeing 757 chartered by National Geographic as part of a multi-country heritage tour. Managed by Yeti Holidays, the package includes VIP services and costs approximately $500 per day per tourist. Most travelers are over 70 and retired professionals. They visited Kathmandu, Bhaktapur, and Pashupati, staying at Dwarika’s Hotel. The private jet features business-class seating, onboard chef, medical staff, and personalized service. Their South Asian destinations include Nepal, India, and Bhutan. Tourism officials highlight the importance of attracting high-spending visitors for Nepal’s tourism growth, calling this a positive signal for the sector.

Health Insurance Board Still Owes NPR 16.45 Billion in Payments: The Health Insurance Board has announced that it still owes NPR 16.45 billion in payments. During a press conference today, the Board revealed that by the end of Falgun (mid-March), this amount remains unpaid to hospitals covered under the insurance scheme.

Executive Director of the Health Insurance Board, Dr. Raghuraj Kafle, explained that due to a shortage of human resources and adequate budget, the payments owed would rise to NPR 24 billion by the end of Ashad (mid-July). He also mentioned that with only NPR 1 billion in the Board’s fund, managing the insurance program has become a challenge. “About NPR 2 billion is spent on service providers. The expenses are 15 times higher than the revenue,” he added.

Flights Resume In Taplejung After Four Months: Flights have been resumed at local Suketar Airport from today after a hiatus of about four months.Nepal Airlines Corporation (NAC), the national flag-carrier, which had been operating regular flights to Suketar, suspended its flights since the second week of December 2024 after two of its aircraft were out of order.

A plane that came here from Kathmandu with five passengers on board has left for Kathmandu with two female and four male passengers today, Suketar Civil Aviation Office stated. The domestic and foreign visitors as well as the general people were deprived of air travel due to the halt in air service for long.

Gold Price Drops in Nepal by NPR 1,900 Per Tola Today: The price of gold in the Nepali market dropped by NPR 1,900 per tola on Sunday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of gold decreased compared to Friday’s rate.

As per the updated rate, the price of hallmark gold on Sunday has been fixed at NPR 174,500 per tola. On Friday, the price of hallmark gold was NPR 176,400 per tola. Similarly, the price of silver has also declined. On Sunday, silver is being traded at NPR 1,800 per tola, whereas it was NPR 1,870 per tola on Friday.

Demand Letter Submitted to PM Oli for Budget Allocation to Khaptad Engineering Campus in Doti: A delegation submitted a memorandum to Prime Minister KP Sharma Oli today, requesting the inclusion of a program for operating the Khaptad Engineering Campus in Doti in the upcoming national budget.

During a meeting held at the Prime Minister’s residence in Baluwatar, representatives from Doti—including members of both the Nepali Congress and CPN-UML—urged the Prime Minister to prioritize the district in budget planning. They emphasized the need for physical infrastructure development and support for teaching and learning activities at the engineering campus, highlighting Doti’s status as a region lagging behind in development.

Migrant Workers Flock to IPOs But Shun Savings Bonds: Nepali migrant workers have shown overwhelming interest in IPOs reserved for them, with all five such IPOs in the current fiscal year being fully subscribed. Over 56,000 workers applied for shares in the most recent offering by Pure Energy. Despite this enthusiasm for IPOs, the response to foreign employment savings bonds remains weak—only 10.84% of the Rs 500 million bond quota issued this fiscal year has been sold. Experts attribute the low demand to limited capacity among Gulf-based workers and a lack of interest among those in developed nations. The government plans to increase awareness to improve future bond sales.

New NRB Guidelines Limit Cooperative Borrowing and Member Deposits: Cooperative institutions in Nepal can now borrow only up to five percent of their total assets from banks, financial institutions, and cooperative banks, according to new directives issued by Nepal Rastra Bank (NRB).

The provision is part of the “Directives and Guidelines for Savings and Credit Cooperatives 2081”, introduced by the central bank. Under the new rules, cooperatives are also restricted from taking loans that exceed 100 percent of their capital fund.

In addition to borrowing limits, the guidelines also place a cap on how much savings cooperatives can collect per member. For cooperatives operating within a single district, the maximum deposit limit per member is NPR 1 million. Those operating across multiple districts can collect up to NPR 2.5 million per member, while cooperatives with a working area beyond one province are limited to NPR 5 million per member.

India Grants Mutual Recognition to Nepal’s Food and Herbal Testing Certificates: India has officially granted mutual recognition to Nepal’s testing and certification of food items and herbs, ending the long-standing requirement for Nepali exporters to obtain quality verification from Indian laboratories.

Previously, even though food quality tests were conducted in Nepal, Indian authorities did not recognize those certifications. As a result, exporters were compelled to send their food products to India for additional testing to meet export requirements.

Now, with India acknowledging Nepal’s certification, Nepali exporters will no longer need to send their products across the border for quality verification. This change is expected to significantly reduce both time and costs for exporters, and streamline the export process for food and herbal products.

According to Nepal’s Department of Food Technology and Quality Control (DFTQC), the mutual recognition comes following decisions by India’s Food Safety and Standards Authority of India (FSSAI) and the National Accreditation Board for Testing and Calibration Laboratories (NABL). These bodies have formally recognized the test reports of Nepal’s National Food and Feed Reference Laboratory, which operates under the DFTQC, for food group testing.

Climbers Begin Receiving Permits for Everest Ascent This Spring Season: The spring climbing season has officially kicked off, with the Department of Tourism beginning to issue climbing permits for Mount Everest. So far, seven expedition groups comprising 17 women and 60 men have received permission to attempt the summit.

According to Liladhar Awasthi, Director at the Department of Tourism, climbing permits have been issued not only for Everest but also for 29 other smaller peaks. He mentioned that many of the permitted climbers have already started heading toward their respective destinations.

Protesters Demand Resignation of Energy Minister Deepak Khadka: Demonstrations were held once again today at Maitighar Mandala in Kathmandu, demanding the resignation of Energy Minister Deepak Khadka and expressing strong support for Kulman Ghising. Protesters condemned Ghising’s dismissal from the post of Executive Director of the Nepal Electricity Authority, calling it disrespectful and unjust.

The rally was organized under the leadership of the “Kulman Ghising Reinstatement Joint Struggle Committee Nepal”. Participants chanted slogans demanding that Minister Khadka step down and called for the immediate reinstatement of Ghising to his former position.

CT Scan Machine for Sankhuwasabha District Hospital Scrapped Despite Budget Allocation: The plan to procure a CT scan machine for Sankhuwasabha District Hospital has been canceled. The Koshi Province Government had allocated NPR 70 million in the current fiscal year 2081–82 for the purchase of the machine.

Although the budget had been set aside specifically for the district hospital, the Ministry of Health of the province has issued a letter instructing the hospital not to proceed with the CT scan procurement program. The ministry’s letter informed them that a ministerial-level decision was made not to implement the purchase under the allocated budget.

NADA Acknowledges Existence of New Automobile Association NAIMA: The NADA Automobiles Association of Nepal (NADA) has officially recognized the existence of the Nepal Automobiles Importers and Manufacturers Association (NAIMA), a new entity formed by a group of auto importers. In a joint statement issued on Sunday, NADA President Karan Chaudhary and NAIMA representative Ritu Singh clarified the roles, areas of operation, and potential cooperation between the two organizations.

NADA had formally split on Falgun 9 (mid-February), when ten automobile importing companies formed NAIMA as a non-profit entity. The division marked a significant shift in the automobile industry’s organizational landscape, but the latest development suggests a move toward mutual understanding and collaborative functioning.

Medical Centers Demand Representation in Labor Ministry’s Monitoring Committee: Institutions conducting medical checkups for workers going abroad for employment have demanded representation in the Labor Ministry’s monitoring committee. Kailash Khadka, President of the Nepal Health Professionals Federation, stated that medical entrepreneurs have formed a joint committee to assist the government in improving the quality and dignity of health examinations for migrant workers.

To push this agenda forward, a five-member joint committee has already been formed by the medical service providers involved in pre-departure health screenings. They are now seeking a seat at the table in order to contribute more effectively to policy-making and oversight.

Kalikot River Excavation Resumes After Supreme Court Dismisses Petition: Excavation in the Kaligandaki River has resumed after the Supreme Court of Nepal dismissed a petition that had halted all related activities for nearly four years.

On Asar 29, 2078 BS (July 13, 2021), the Supreme Court had issued an interim order to stop all excavation works in the Kaligandaki River. That order was recently lifted after a joint bench of Justices Dr. Kumar Chundal and Binod Sharma dismissed the petition on Kartik 11 (October 2024).

The original petition had been filed citing illegal extraction and smuggling of river-based resources and environmental degradation in several municipalities along the Kaligandaki River, particularly in the districts of Myagdi, Parbat, Baglung, Syangja, Palpa, and Tanahun.

Over 7,000 Devotees Visit Pathibhara Temple in a Single Day: Pathibhara Temple in Taplejung, one of Nepal’s prominent religious sites, witnessed an overwhelming surge in visitors on Saturday, with more than 7,000 devotees making the pilgrimage in a single day.

According to the Pathibhara Area Development Committee, a total of 7,146 pilgrims visited the temple that day. This marks the first instance since the Dashain and Tihar festivals that such a large number of worshippers have arrived in one day.

Executive Director of the Committee, Prajin Hangbang, confirmed that this was the highest single-day turnout recorded at the temple post-festive season. The significant increase in pilgrim numbers highlights Pathibhara’s growing spiritual and cultural importance among devotees from across the country.