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 economic news highlights.

PM Inaugurates First Koshi Investment Summit, Calls for Investment in The Province: Koshi Province has organized its first-ever provincial investment summit starting Thursday in Biratnagar. The provincial government has set an ambitious target to attract investments worth nearly Rs 180 billion by showcasing 71 projects across sectors such as tourism, agriculture, industry, infrastructure, and health. Prime Minister KP Sharma Oli inaugurated the summit at the Birendra Sabha Griha. Inaugurating the Summit, Prime Minister Oli said Koshi Province offers a favorable environment for investment in all sectors. He highlighted that legal reforms have been made to ease investment and emphasized the government’s support for entrepreneurship. “Seek out entrepreneurship; the government is with you,” he said.

PM Oli Launches ‘Shram Sansar Portal’, Vows Equal Job Access: Prime Minister KP Sharma Oli emphasized the need to expand employment opportunities to every citizen during an event marking the 136th International Labour Day. Speaking at the launch of the Ministry of Labour, Employment and Social Security’s new digital platform, ‘Shram Sansar Portal’, PM Oli highlighted its role in ensuring that foreign employment challenges are addressed and domestic labor services are delivered to doorsteps. “The portal will soon be integrated into the Nagarik App to boost access for all Nepalis,” said Oli. “Whether it’s skills training or concessional loans, every citizen must be able to benefit.”

Nepal Observes 136th International Workers’ Day Amid Persistent Labor Rights Issues: Today, May 1st, marks International Workers’ Day, also known as May Day. The 136th International Labor Day is being observed in Nepal and around the world through various programs and events. Despite annual celebrations that highlight the demands of workers—including minimum wages, social security, career development, and dignified treatment—very little substantial progress has been made in improving labor rights in Nepal. International Workers’ Day commemorates the historic labor movement that began in Chicago, USA, in 1886, when workers demanded an eight-hour workday divided into equal parts for labor, recreation, and rest. The day has since been globally recognized and is observed every year on the first of May, hence its name—May Day.

Nepal Rastra Bank Without Full-Time Governor for 23 Days: Nepal Rastra Bank has been under the acting leadership of Deputy Governor Dr. Neelam Dhungana Timsina for the past 23 days. Since the retirement of Governor Maha Prasad Adhikari at the end of his five-year term on Chaitra 24, political parties have failed to reach consensus on appointing a new governor, despite several negotiations and behind-the-scenes maneuverings. Finance Minister Bishnu Prasad Paudel appointed Dr. Timsina as acting governor on Chaitra 25 under Section 27 of the Nepal Rastra Bank Act. However, legal experts say this provision does not explicitly authorize appointment of an acting governor in case of normal term completion. Amid the deadlock, concerns are rising about the central bank’s daily operations and regulatory effectiveness being undermined due to the vacancy at the top.

Nepal Rastra Bank Penalizes Five Commercial Banks for Regulatory Violations: Nepal Rastra Bank has taken disciplinary action against five commercial banks for violating regulatory provisions in the third quarter of fiscal year 2081/82. Standard Chartered Bank faced a cash fine of Rs 148.5 million for failing to meet lending quotas in agriculture, energy, and MSMEs. Government-owned Rastriya Banijya Bank and Nepal Bank were also penalized. The CEO of Rastriya Banijya Bank received a formal warning for failing to classify loans and calculate risk properly after repayment deadlines were breached.

IFC and FNCCI Discuss Collaboration: The International Finance Corporation (IFC) and the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) have held discussions on matters of Nepal’s economic development, employment and mutual collaboration. IFC South Asia Region Head Gregory Smith and FNCCI Vice President Hem Raj Dhakal discussed mutual partnership and coordination between the two organizations. The meeting took place at FNCCI Secretariat. IFC’s Smith said that IFC is ready to collaborate with the FNCCI for Nepal’s economic development. He said the IFC would cooperate in knowledge-related partnerships, capacity building of small and medium enterprises and ensuring meaningful employment avenues for the youth in order to strengthen Nepal’s private sector.

Nepal Oil Corporation Slashes Fuel Prices: Nepal Oil Corporation has reduced the prices of petroleum products effective from Wednesday night. Petrol has been reduced by Rs 2 per liter, diesel and kerosene by Rs 1 per liter, domestic aviation fuel by Rs 4 per liter, and international aviation fuel for Kathmandu flights by USD 29 per kiloliter. The corporation has kept aviation fuel prices for Pokhara and Bhairahawa at break-even levels. However, the retail price of liquefied petroleum gas (cooking gas) remains unchanged.

NEA to Import Additional 600 MW Electricity from India: The Nepal Electricity Authority has been granted permission to import electricity from India for up to 15 hours a day. Previously, the authority had been importing electricity for 12 hours daily, but starting from Thursday, they are allowed to import for 15 hours. The Indian government has given Nepal Electricity Authority additional approval to import 600 megawatts of electricity from the Muzaffarpur-Dalkebar line from 2 AM to 5 PM. Previously, the approval was only for a period from 6 AM to 5 PM, known as solar hours. India had already granted permission for the import of 654 megawatts of electricity, with 600 megawatts from the 400 kV Dalkebar-Muzaffarpur transmission line and 54 megawatts from the Tanakpur-Mahendranagar line. However, due to rising electricity demand within India itself, Nepal had not been receiving the full requested amount. Now, Nepal has been granted permission to purchase 600 megawatts of electricity for 15 hours daily.

Traders Oppose Mandatory MRP Labeling on Consumer Goods: Traders have expressed dissatisfaction over the mandatory provision requiring Maximum Retail Price (MRP) labeling on consumer goods, which came into effect from Chaitra 20. They claim the new rule has complicated business, especially due to variations in transport costs and seasonal pricing. A delegation of businesspersons met the Minister for Industry, Commerce and Supplies to demand reconsideration of the rule. As per the Consumer Protection Act, 2075, all goods must now carry labels with six key details including price, batch number, and manufacturing date—this includes imported goods as well.

Nepal Oil Corporation Stalls Depot Relocation in Sudurpaschim: The plan to relocate Nepal Oil Corporation’s regional fuel depot in Dhangadhi remains in limbo, despite earlier announcements to shift the facility to Godawari Municipality. According to Corporation spokesperson Manoj Thakur, a technical study was conducted and a committee had submitted a report evaluating four to five potential plots of land. However, no final decision has been made. Previously, on January 15, Pradeep Yadav, head of the Corporation’s capacity enhancement project, announced at a Kathmandu press conference that the depot would be relocated to Kailali district. The plan is now stalled pending further government direction.

Record Progress Achieved on Narayanghat–Butwal Road in Past Month: The Narayanghat–Butwal road project has witnessed its highest monthly progress to date over the past month. According to the project officials, in April 2025, the construction saw a physical progress of 3.63 percent—marking the highest progress since the project began. The project team has expressed confidence in surpassing this record in May 2025. Currently, 82 percent of the road stretch has been paved with new asphalt, allowing smooth travel along the upgraded sections. Overall, the project has reached 64 percent physical completion. The target for April 2025 was initially set at 3.26 percent progress. Nighttime traffic along this route has been suspended to accelerate construction work.

NIMB Stock Markets Ltd Launches New Trade Management System: NIMB Stock Markets Ltd has officially launched its new Trade Management System (TMS) from Baisakh 14. Designed to enhance the efficiency, safety, and user-friendliness of stock trading, the new system supports real-time order placement and portfolio tracking. It also offers seamless mobile access. With this launch, the company has taken a significant step toward digital transformation in Nepal’s capital market.

Chimkhola Hydropower Plant in Myagdi Set to Begin Trial Production: A 37.5-megawatt hydropower project named Chimkhola–Mangale–Rahughat is nearing completion in Raghu Ganga Rural Municipality. Promoted by Tudi Power Company Ltd, the project will begin trial electricity production within 15 days, confirmed project engineer Prakash Timilsina. Equipment installation and transmission infrastructure have been completed, including a 14 km-long 220 kV transmission line to connect with the national grid.

Report Shows 10.84% Drop in Regular Jobs for Workers in Nepal: As the world observes International Labour Day, a recent report paints a bleak picture of the labor market in Nepal. The General Federation of Nepalese Trade Unions (GEFONT) has revealed that the number of regularly employed workers has decreased by 10.84% compared to the previous year. According to the 2081 Labor Audit Report, only 53.35% of workers in audited institutions are in regular employment, down from 59.72% in 2080 BS.

Blacktopping Begins at Majhgaun Airport in Kanchanpur: Asphalt concrete blacktopping has commenced at the under-construction Majhgaun Airport in Kanchanpur district. The work began on Wednesday at the airport site located in Bhimdatta Municipality-16, according to the contractor Anmol Construction and Kanchharam Kumar Shrestha JV. Project engineer Yuvraj Rijal said blacktopping started from the apron and will extend to the runway after completion of the aircraft parking area. “We have started blacktopping the parking bay from today. After finishing areas like refueling and passenger boarding zones, we will move to the runway,” Rijal stated.

Baitadi Contractor Delays Eight Projects for Five Years: A contractor in Baitadi district, secured eight infrastructure development contracts during fiscal year 2076/77 (2019–20) by quoting significantly below the estimated costs. The projects, which were also spread into neighboring Darchula, have not been completed even after five years. Though the original cost estimate was Rs 1.49 billion, the contracts were awarded at Rs 1.14 billion. Due to delays caused by the contractor, government offices had to pay Rs 57.1 million in price adjustments and Rs 46.5 million in variation payments by the end of Falgun of the current fiscal year. The projects remain incomplete, and no substantial action has been taken against the contractor for breaching the timeline.

Soti Drinking Water Project in Myagdi’s Pahadi Region Abandoned for Four Years: The Soti Lifting Drinking Water Project in Bihadi Rural Municipality, South Parbat, has remained incomplete for the past four years. Meant to provide clean drinking water to hundreds of families in remote areas, the multi-year project with a Rs 40 million budget from the Gandaki Province Government was expected to be completed in two years. Ward Chair Ganesh Sharma Paudel of Ward 2 said the project aimed to supply water to around 300 households. However, with delays stretching over years, locals still rely on distant springs and traditional water sources, many of which have dried up since Chaitra (mid-March). This has forced residents to trek long distances to fetch water from riverbanks.

Gold Price Drops Sharply by Rs 4,600 per Tola in Nepal: The price of gold plunged significantly on Thursday, falling by Rs 4,600 per tola compared to the previous day, according to the Federation of Nepal Gold and Silver Dealers’ Association. The new market rate for hallmark gold now stands at Rs 183,500 per tola, down from Wednesday’s rate of Rs 188,100. The drop reflects a notable adjustment in the bullion market within 24 hours. Silver prices also dipped. While silver was trading at Rs 1,965 per tola on Wednesday, it decreased by Rs 50 to reach Rs 1,915 per tola on Thursday, the Federation stated.