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Construction entrepreneurs in Nepal have submitted a memorandum to the Department of Water Supply and Sewerage Management, protesting significant price increases in construction materials and fuel. They claim it's impossible to work at old rates and are demanding a system for scientific price adjustment, protection from blacklisting for halted projects, and deadline extensions. The government, through the Department of Urban Development and Building Construction, is reportedly preparing to address these issues within the Procurement Act and Regulations.
Nepal Rastra Bank Sets Daily Foreign Exchange Rates
Nepal Rastra Bank has determined and published the foreign exchange rates for various currencies including the US dollar, Euro, and British Pound Sterling for the current day. The central bank has stated that these rates are subject to revision at any time and may differ from those set by commercial banks.
Nepal's Public Enterprises: 27 Profitable, 16 Incurring Losses, Ministry of Finance Report
A recent report from Nepal's Ministry of Finance reveals that out of 45 public enterprises (PEs), 27 were profitable in the fiscal year 2024/25, while 16 incurred losses and two have been shut down. Despite an overall increase in net profits by 12.03%, deep-seated structural and managerial weaknesses continue to impact these state-owned entities.
Nepal's Economy Projected to Grow 3.85% Amidst Global Uncertainty, Finance Minister Reports
Nepal's economy is projected to grow by 3.85 percent in the current fiscal year, according to the Economic Survey presented by Finance Minister Dr. Swarnim Wagle. Despite global economic uncertainty and regional conflicts, the nation's macroeconomic indicators have shown improvement, with the total economy estimated to reach Rs. 6.6 trillion and per capita national income projected at USD 1,535.
Nepal's Economic Survey FY 2082/83 Highlights Positive Indicators Amidst Challenges
Nepal's Economic Survey for Fiscal Year 2082/83 indicates a strengthening external sector, controlled inflation, and a significant increase in remittance inflows. However, the report also identifies persistent challenges including weak capital expenditure, a widening trade deficit, expanding public debt, and sluggish private sector loan disbursement. The economy is projected to grow by 3.85 percent in the current fiscal year.
