Quick Update on Nepal’s Business News: Khabarhub

Nepal is gearing up to become a major player in the energy market as it plans to export 10,000 megawatts of electricity to India over the next decade. Prime Minister Pushpa Kamal Dahal ‘Prachanda’ has urged the private sector to invest in Nepal’s hydropower industry, emphasizing the potential economic boost and geopolitical significance this goal could bring.

In other news, the Nepal Stock Exchange (NEPSE) wrapped up the week with a 2.67 percent increase, reflecting a positive sentiment in the market and increased trading activity. The substantial turnover of Rs 18.59 billion indicates significant investor participation and potential opportunities for traders.

Meanwhile, the price of gold and silver in the Nepali market experienced a significant drop, with hallmark gold decreasing by Rs 700 per tola. This decline could be influenced by international market trends, currency fluctuations, or local demand-supply dynamics.

The Nepal Rastra Bank has maintained stability in its third-quarter Monetary Policy review, refraining from significant alterations. The report highlighted a decrease in government expenditures but an increase in revenue mobilization, indicating a relatively balanced fiscal situation.

In Nawalparasi, revenue collection surged to Rs 21 billion, reflecting strong economic activity and taxpayer compliance. However, concerns arise in Kaski District as cheque bounce cases have surged, raising questions about governance and market regulation.

The rise of informal cross-border trade between Nepal and India, particularly in agricultural products, has raised economic concerns and challenges to formal trade channels. Despite discussions, concrete solutions to control informal trade have yet to be implemented.