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:

Nepal Oil Corporation Hikes Fuel Prices Amid Rs 7.82 Billion Loss

The Nepal Oil Corporation (NOC) has announced a significant hike in petroleum prices, citing a fortnightly loss of approximately Rs 7.82 billion. Effective from midnight on Friday, the price of petrol increased by Rs 17 per liter, while diesel and kerosene rose by Rs 25 per liter. Additionally, the price of Liquefied Petroleum Gas (LPG) has been hiked by Rs 100 per cylinder. NOC officials stated that the adjustment was unavoidable as the corporation still owes Rs 16.37 billion to the Indian Oil Corporation (IOC). Consumers have been urged to adopt fuel-saving measures to mitigate the economic impact.

Bagmati Province Hikes Taxi Fares; Flag Down Set at Rs 58

The Ministry of Labor, Employment and Transport of Bagmati Province has officially increased taxi fares for petroleum-powered vehicles. According to the new rates published in the Gazette, the initial “flag down” rate has been raised from Rs 52 to Rs 58. Passengers will now be charged Rs 12 for every 200 meters of travel, up from the previous Rs 10.34. For night travel between 9:00 PM and 4:00 AM, the rate increases to Rs 17 per 200 meters. The ministry stated that these adjustments were based on recent fuel price fluctuations and will be reviewed if petroleum prices shift by more than 5% in the future.

Govt. Sets Minimum Support Price for Wheat and Spring Paddy

Following directives from the Ministry of Agriculture and Livestock Development, the government has fixed the Minimum Support Price (MSP) for wheat and early spring paddy for the current fiscal year. The price of wheat has been set at Rs 3,856.49 per quintal, marking an increase of Rs 77.62 from the previous year. For spring paddy with 18% moisture content, the MSP is now Rs 2,945 per quintal, up by Rs 55.08. The policy includes a weight reduction mechanism for paddy with moisture levels exceeding the 18% threshold to ensure fair value for farmers.

Mineral Industry Generates Rs 2.14 Billion in Revenue

The Department of Mines and Geology has collected Rs 2.14 billion in revenue over the last fiscal year and the first eight months of the current fiscal year. The revenue was primarily generated through permit fees and renewals for the extraction of minerals, including limestone, red clay, iron, quartz, and marble. During this period, the department granted numerous licenses for the mining of dolomite, magnesite, copper, and zinc across various regions. This significant collection underscores the growing industrial activity within the domestic mining sector and its contribution to the national treasury through mineral-based industries.

Laborers Not Required to Present Payment Receipts at Immigration

The Department of Immigration has clarified that migrant workers departing from Tribhuvan International Airport (TIA) are only required to present their passport and labor permit. This announcement follows confusion caused by a previous notice from the Department of Foreign Employment suggesting that workers needed to show various payment receipts or bills. Authorities confirmed that for those traveling on a visit visa, a passport with at least six months of validity, a return ticket, and a valid visa for the destination country are the only requirements. The department urged citizens not to be misled by rumors and assured that unnecessary documentation would not be demanded at the immigration desks.

Currency Limits Remain a Hurdle for Indian Tourists

Despite recent statements from the Ministry of Finance suggesting Indian tourists can bring up to USD 5,000 in Indian currency (INR), practical enforcement at the border remains a major deterrent. While Nepal permits approximately INR 415,000, the Indian government still maintains a strictly enforced limit of INR 25,000 for individuals entering Nepal. Recent incidents at the Jogbani and Bhantabari borders, where tourists and locals were detained for carrying excess cash, have dampened the enthusiasm of visitors. Tourism entrepreneurs argue that without a formal diplomatic agreement between both nations to synchronize these limits, the hassle at security checkpoints will continue to hinder the influx of high-spending tourists.

FNCCI Reschedules 60th Annual General Meeting for May 4 and 5

The Federation of Nepalese Chambers of Commerce and Industries (FNCCI) has rescheduled its 60th Annual General Meeting (AGM) and elections for May 4 and 5. The event, originally set for April 12 and 13, was postponed following an interim order from the Patan High Court. The legal challenge was initiated by the Nepal Petroleum Transport Entrepreneurs Federation, which argued it was unfairly denied voting rights despite holding membership. The court’s stay order remains in effect until the membership and voting disputes are resolved in accordance with a previous mandamus issued around February 2025.

Consumer Protection Department Inspects 56 Firms in Single Day

The Department of Commerce, Supplies and Consumer Protection inspected 56 business firms within the Kathmandu Metropolitan City on Friday. This action, taken under the Consumer Protection Act, 2018, and Consumer Protection Rules, 2019, aims to maintain market discipline and curb black marketing. While 51 firms were monitored on Thursday, the department intensified its oversight on Friday to ensure the sale of quality goods and adherence to Maximum Retail Prices (MRP). Authorities issued necessary directives and penalties to businesses found violating consumer rights during the large-scale operation.

Multi-Million COVID-19 Holding Centers Face Decay in Kanchanpur

A massive holding center in Bhimdatta Municipality-18, Kanchanpur, built with an investment of Rs 292.5 million during the pandemic, is currently falling into disrepair due to a lack of use. Constructed by Hanuman Construction under the supervision of the army, the facility features 20 large structures with a 1,000-bed capacity, alongside 22 toilets and 15 kitchens. Local residents have urged the government to repurpose the structures into rehabilitation centers for drug addiction or treatment wards for tuberculosis and leprosy. While the local administration is exploring options to utilize the facility for disaster management or security forces, no final decision has been implemented.

New Homestay Circuit to Connect Bandipur and Vyas Municipality

A new ‘Bandipur-Keshavtar Homestay Circuit’ is being developed to promote rural tourism across Bandipur Rural Municipality and Vyas Municipality 14 of Tanahun District. The circuit, spanning approximately 75 kilometers, will integrate 14 homestays across 20 villages, showcasing the diverse cultures of the Magar, Gurung, Newar, and Dalit communities. Following the success of the Bandipur Visit Year 2025, the local government has declared 2026 as the Rural Tourism Visit Year. To facilitate access, a safari jeep service has been launched. The project aims to boost rural income and will be promoted internationally during the Village Tourism Mart 2026 scheduled for May 1 and 2.