Category: Finance

Kathmandu: Nepal exported electricity worth Rs 12.72 billion to India during the first quarter of the current fiscal year, according to the Nepal Electricity Authority (NEA). The surplus electricity, amounting to over 1.66 billion units generated during the rainy season, was sold at an average rate of Rs 7.63 per unit. The NEA exports power… Continue reading Nepal exports Rs 12.72 bn worth of electricity to India in Q1

Kathmandu: Depositors of Sahara Chitwan Multipurpose Cooperative Limited have filed a fraud complaint against Rastriya Swatantra Party (RSP) Chairman Rabi Lamichhane, former Deputy Inspector General (DIG) Chhabilal Joshi, and eight others. The complaint, lodged at the District Police Office in Chitwan on Wednesday, accuses the 10 individuals of embezzling funds from the cooperative. Shalikram Dawadi,… Continue reading Depositors of Sahara Cooperative file fraud case against Rabi Lamichhane and others

Kathmandu: Nepal’s public debt increased by Rs 84 billion in the first quarter of the current fiscal year (FY) 2024/25, according to the Public Debt Management Office (PDMO). The total debt now stands at Rs 2.518 trillion, equivalent to 44.14 percent of the country’s Gross Domestic Product (GDP). The PDMO report shows that Nepal’s total… Continue reading Nepal’s public debt rises to Rs 2.518 trillion, exceeding 44% of GDP

Kathmandu: Tribhuvan International Airport (TIA) recorded a significant rise in passenger traffic, with 7.87 million travelers using its services in the first 10 months of 2023, according to data from the TIA Office. This figure marks an increase of approximately 750,000 passengers compared to the same period in 2022. According to TIA data, October was… Continue reading TIA sees record passenger traffic in 2023

Kathmandu: Real estate transactions across Nepal saw notable improvement in Kartik (mid-October to mid-November), with over 33,000 properties bought and sold during the month. According to the Department of Land Management and Archives (DoLMA), a total of 33,514 deeds were approved, marking a 9.78% increase compared to Ashoj (mid-September to mid-October), when 30,527 transactions were… Continue reading Real estate transactions rise in Kartik, revenue collection declines

Kathmandu: Nepal received Rs 407.31 billion in remittances during the first three months of the current fiscal year, reflecting an 11.5% increase compared to the same period last year, according to the Nepal Rastra Bank (NRB). The central bank’s Current Macroeconomic and Financial Situation of Nepal report, based on data up to mid-October, showed that… Continue reading Nepal records Rs 407.31 bn in remittance inflows in first quarter

Kathmandu: The government recognized Bhat-Bhateni Supermarket and Departmental Store for its significant contribution to the national treasury, honoring it as the highest taxpayer in the commodity trade sector for the fiscal year 2022/23. During a special event organized by the Inland Revenue Department (IRD) to mark Tax Day, Finance Minister Bishnu Paudel presented the award… Continue reading Bhat-Bhateni Supermarket honored as highest taxpayer in commodity trade

Kathmandu: The Commission for the Investigation of Abuse of Authority (CIAA) has filed a corruption case against 19 individuals, including two former chairpersons of the Nepal Telecommunications Authority (NTA), over irregularities in the purchase of a Mobile Device Management System (MDMS). However, critical documents required for the investigation, such as the technical report from the… Continue reading CIAA corruption case delayed over missing documents; hearing rescheduled for November 26

Kathmandu: Kulman Ghising, the Executive Director of the Nepal Electricity Authority (NEA), has warned that industries failing to clear their outstanding electricity bills within the next 15 days will have their power supply cut once again. Ghising stated that the NEA is taking action in accordance with the directive from the Government of Nepal to… Continue reading Kulman Ghising warns to cut power to defaulting industries within 15 days

Kathmandu: The Ministry of Labour, Employment, and Social Security (MoLESS) of Nepal, the Korea International Cooperation Agency (KOICA), and the Swiss Agency for Development and Cooperation (SDC) have signed a Memorandum of Understanding (MoU) to enhance support for Nepali migrants, returnees, and their families. The agreement, signed on November 8, marks a significant step toward… Continue reading MoLESS, KOICA, and SDC sign MoU to support migrants and returnees in Nepal