Get a Quick Update on Nepal’s Business News with Khabarhub

The Nepal Electricity Authority (NEA) has reported a significant profit of over Rs 11 billion in the first nine months of the fiscal year 2080/81. This profit exceeds the previous year’s profit of Rs 8.88 billion, showcasing the NEA’s consistent profitability since 2015-16. The increase in profit can be attributed to reduced electricity leakage, increased domestic consumption, exports to India, and cost-cutting measures.

In other news, the International Monetary Fund (IMF) has praised Nepal for achieving key reforms despite challenges. The IMF expects economic growth to reach 4.9% in the fiscal year 2024-25, driven by stronger domestic demand. The implementation of various fiscal reforms, including the Domestic Revenue Mobilisation Strategy and improved budgeted capital project execution, has contributed to this positive outlook.

Additionally, the Nepal Stock Exchange (NEPSE) ended the week with a 0.40% gain and a turnover of Rs 20.78 arba. The market saw over 4.36 crore unit shares traded across 288,331 transactions, with NEPSE’s market capitalization standing at Rs 3,294,741.79 million.

Furthermore, the completion of the 400-KV Hetauda substation and the proposal to outsource ground handling services at Gautam Buddha International Airport to private airlines mark significant developments in Nepal’s energy and aviation sectors, respectively.

Overall, these developments indicate positive growth and progress in Nepal’s business and economic landscape, showcasing the country’s resilience and potential for further development.