KATHMANDU: Nepal News presents today’s snapshot of Nepal’s economic activities. Get quick updates on major market movements, policy shifts, and financial developments shaping the economy of Nepal. Here are the key economic highlights for today.

Finance Ministry Launches Integrated Office Management System

The Ministry of Finance has launched an Integrated Office Management System. On Friday, Finance Minister Rameshore Khanal inaugurated the system by approving files through it. He said the system was introduced under the plan to make government works simple, efficient, paperless, cost-effective, transparent, and effective through a single IT platform. The system has been made mandatory in the Finance Ministry.

NRB to Provide Relief for Businesses Affected by Gen Z Movement

The Nepal Rastra Bank has announced relief measures on Friday for businesses affected by the Gen Z Movement. The central bank, in line with the government’s announcement, will extend loan repayment deadlines, provide loans at just 0.5 percent premium, and allow up to 80 percent financing for vehicle purchases. The relief will be formalized through amendments in a unified directive to banks. Loan repayment deadlines for directly affected industries, trade, and businesses will be extended.

Customs Reference Price List Replaced with Valuation Database System

The government has replaced the controversial “reference price list” system in customs valuation with a “valuation database system.” The Department of Customs under the Finance Ministry began piloting the new system at Biratnagar Customs Office on Wednesday. The system is expected to bring transparency, fairness, and uniformity in Nepal’s customs administration, facilitate legitimate trade, and help control revenue leakage. 

NRB Increases Daily Transaction Limit for Mobile Wallets

The Nepal Rastra Bank has temporarily increased the daily transaction frequency limit for mobile wallets targeting the festive season. Previously, an individual could make up to 10 transactions per day, but now the limit has been raised to 40 transactions per day. The provision will apply from Fulpati (Seventh day of Dashain) until Kojgrat Purnima (full moon day of Dashain). The Bank said the decision aims to facilitate digital “Dakshina” payments during the festival.

Janak Raj Sharma Takes Oath as Chairman of Nepal Insurance Authority

Janak Raj Sharma, newly appointed Chairman of the Nepal Insurance Authority, took the oath of office and secrecy before Finance Minister Rameshore Khanal today, Friday. The Government of Nepal’s Council of Ministers had decided to appoint him to the position during its meeting on September 25. The newly appointed Chairman formally assumed office today.

Nepal Airlines Cancels First Guangzhou Flight at Last Minute

The national flag carrier, Nepal Airlines Corporation, has canceled its first-ever scheduled flight to the Chinese city of Guangzhou at the last moment. The flight had been set for Thursday night at 10 PM but was called off. The cancellation occurred because the flight plan was not approved. Such a flight plan is usually approved three to four hours prior to departure, but the Civil Aviation Administration of China did not grant approval, forcing Nepal Airlines to cancel the flight at the last minute.

Capital Market Reform Taskforce Submits Report

The taskforce formed to address declining investor confidence due to the country’s current situation has submitted its report to the Finance Ministry on Thursday. The report presents short, medium, and long-term systemic and procedural recommendations to make Nepal’s capital market clean, transparent, effective, and dynamic. It recommended removing the maximum single borrower limit of 250 million rupees on margin loans against shares to provide direct relief to investors and increase liquidity in the market.

Property Damage of 100 Billion Rupees During Gen Z Movement

Public property worth an estimated 100 billion rupees was damaged during the Gen Z Movement due to arson and vandalism. Buildings of Singha Durbar, Supreme Court, police offices, administration offices, and local government offices were among those attacked. On September 21, the Cabinet decided to form a Physical Infrastructure Reconstruction Committee, chaired by the Finance Minister, to assess damage and oversee reconstruction.

Rights Issue Approvals, IPO Applications, and Bonus Share Registrations Halted

Since Tuesday, the vehicles of Securities Board of Nepal Chairman Santosh Narayan Shrestha, the Executive Director, and Deputy Director have been under the control of the employees’ union. All board activities, including rights issue approvals, IPO applications, and bonus share registrations, have been halted. The Employees’ Union and Independent Employees’ Organization jointly padlocked the office after opposing a September 18 decision at the Ministry of Finance regarding revenue matters. It remains uncertain when the board’s work will resume.

FNCCI Urges Protection of Private Property

The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the government to ensure that private and professional property will not be attacked in the future. During a meeting with Industry, Commerce and Supplies Minister Anil Kumar Sinha on Thursday, FNCCI President Chandra Prasad Dhakal led a delegation stressing this demand. The FNCCI said industries, businesses, offices, and residences of entrepreneurs were also vandalized and set on fire during the Gen Z Movement, lowering public and business morale.

Government Cancels Over 1,300 Projects in Current Fiscal Year

The government has scrapped more than 1,300 projects from the current fiscal year’s budget. The interim government formed after the Gen Z Movement reduced or cut projects to manage election and reconstruction expenses. A taskforce led by Finance Ministry Budget Division Chief Suman Dahal had been formed by Finance Minister Rameshore Khanal to recommend which projects should be cut, on what grounds, and why.

Air Travelers Increase After Landslides on Narayangadh–Muglin Road

Passenger numbers have surged on domestic flights following repeated landslides on the Narayangadh–Muglin road section and the Prithvi Highway. Bharatpur Airport, which usually operates seven flights daily, has now increased to 10 flights. Buddha Air, which operates Kathmandu–Bharatpur and Bharatpur–Pokhara flights, has added aircraft to meet demand. According to Buddha Air, more than 100 additional passengers are flying daily.

Airlines Claim Fares Lower Than Government Ceiling During Dashain

Amid complaints of high airfares during the approaching Dashain festival, the Airlines Operators Association of Nepal has claimed that airlines are providing tickets at lower rates than the government’s maximum fare ceiling. In a statement issued by Association President Manoj Karki, it was said that despite increased demand during Dashain, Tihar, and Chhath festivals, tickets are being sold below the ceiling rate, and future tickets will also be issued at lower prices.

Power Shortage in Parsa-Bara Industrial Corridor Before Festivals

The Parsa-Bara Industrial Corridor, Nepal’s largest industrial zone, is facing acute power shortages ahead of major festivals. After a fire at the Bhulahi substation of the Nepal Electricity Authority in Parwanipur two weeks ago, industries have not received regular power supply. During festivals, demand for food, consumer goods, and construction materials increases, but industries now face disruptions because electricity supply is both limited and of poor quality, creating difficulties for smooth operations.

Low Water Levels Threaten Kulekhani Reservoir Filling

The chances of the Kulekhani Reservoir filling this year are low. Even as the monsoon season ends, water levels have risen only about 18 meters. During the dry season, the water level had dropped to 1,485 meters. By Thursday afternoon, the Indrasarovar in Kulekhani had reached only 1,503.82 meters. The reservoir needs about 27 meters more to be full.

Butwal Power Company to Acquire Himal Power Shares

Butwal Power Company will purchase shares of Himal Power. The shares, totaling 16.81 million, are currently owned by Statkraft Holding Singapore and Eviny AS Norway. Butwal Power will acquire 16.81 million shares from Statkraft Holding Singapore and 4.59 million shares from Eviny AS Norway.

Citizens Bank Declares Dividend

Citizens Bank International has declared dividends. The Board of Directors’ meeting on Friday morning decided to distribute 5 percent bonus shares and 0.263 percent cash dividends. The proposal is subject to approval from Nepal Rastra Bank and the Bank’s annual general meeting. Last year, the bank had provided a total dividend of 4.21 percent, including 4 percent bonus shares.

Chaudhary Group Assures No Job Cuts or Pay Reductions

The Chaudhary Group has announced it will not lay off employees or reduce salaries and bonuses despite damages during the Gen Z Movement. On September 9, demonstrators vandalized, looted, and set fire to CG’s industries and businesses, causing losses worth 50 billion rupees. Its electronics factory and warehouse at Satungal were set ablaze, destroying buildings, machinery, equipment, stock, and vehicles.

SY Panel Nepal Records 790 Million Rupees Trade in One Year

SY Panel Nepal has achieved trade worth 790 million rupees in a single year. The company recorded its highest-ever business turnover in the last fiscal year, setting a new record. In 2024, the company had posted 630 million rupees in trade, while in 2023 it had 522 million rupees, in 2022 about 416 million rupees, and in 2021 approximately 455 million rupees.

Gold and Silver Prices Rise in Domestic Market

On Friday, the price of gold increased in the Nepali market. According to the Federation of Nepal Gold and Silver Dealers’ Association, hallmark gold, which was traded at 221,300 rupees per tola on Thursday, rose by 1,200 rupees to reach 222,500 rupees per tola on Friday. Similarly, the price of silver reached 2,740 rupees per tola.