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:

NRB Directs Financial Institutions to Reduce Dormant Accounts

The Nepal Rastra Bank (NRB) issued a directive on Friday instructing class ‘A’ commercial banks, class ‘B’ development banks, and class ‘C’ finance companies to implement action plans reducing dormant accounts by mid-January 2027. According to the amended unified directives, banks and financial institutions must regularly notify customers via phone, short message service, or email before accounts become inactive, reaching out at least every six months for reactivation. The NRB mandated that financial institutions allow customers to easily close or reactivate accounts from any branch nationwide or via mobile and web applications, ensuring secure transaction monitoring.

Chhurpi Exports Via Birgunj Customs Hit Rs 1.18 Billion

Hard cheese (chhurpi) shipments processed through the Birgunj Customs Office surged to Rs 1.18 billion during the current fiscal year 2025/26 by June 14. The export volume reached 644,386 kilograms, marking an increase from the Rs 1.04 billion valuation recorded during the exact same timeframe in the prior fiscal year. Global demand across North America, Australia, and Europe drove the trade boost, where the product is utilized as a durable dog and cat chew treat. Production stems largely from regional processing facilities located across eastern hilly districts like Ilam.

UAE Eyes Investment in Nepal’s Rail and IT Sectors

The United Arab Emirates proposed injecting private sector capital into Nepal’s railway network and emerging technology infrastructure during a bilateral meeting on Friday. UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi and Nepal’s Minister for Industry, Commerce, and Supplies Gauri Kumari Yadav, discussed financing large-scale agricultural projects and establishing a Green Data Center. The United Arab Emirates agreed to provide technical assistance and funding for food quality testing to streamline Nepali agricultural exports. Minister Yadav welcomed the investment commitments and proposed expanding the Nepal-UAE Business Forum to solidify commercial ties.

Licenses of 44 Construction Firms Canceled

The Ministry of Infrastructure Development has announced that the construction business licenses of 44 firms and companies have been automatically canceled after they failed to renew their licenses within the prescribed deadline. In a notice, the ministry’s Construction Business Promotion Branch stated that under Section 5 (3) of the Construction Business Act, 1999, construction entrepreneurs were required to renew their licenses for the fiscal year 2025/26 by April 13. It said the licenses of the 44 construction entrepreneurs who did not renew within that period were automatically canceled. The ministry said the licenses were canceled in accordance with Section 7 (3) of the same act. According to the notice, the information was published in line with a secretary-level decision dated July 1 for the purpose of Section 7 (4) of the act.

Contractors Complete Bridge Ahead of Schedule

Engineering firms finished two major transport bridge projects in Gorkha District well ahead of their legal operational deadlines. Ganeshkhund Infrastructure and Builder Private Limited completed the 60-meter Ludi Khola Motorover Bridge within just one year of signing a Rs 75.9 million contract, bypassing the original June 2027 target. Concurrently, Amrit Construction Private Limited completed the 20-meter Chukti Khola Bridge six months prior to its deadline for Rs 34.2 million. The completed transit structures immediately connect multiple wards across Palungtar and Gorkha municipalities, improving local commercial routes.

Beni-Jomsom-Korala Project Issues Tenders Valued at Rs 2 Billion

The Beni-Jomsom-Korala Road Project announced multi-year procurement tenders on Friday to upgrade and blacktop the vital Chhusang-Ghami corridor connecting to the northern Korala border point. The upgrade consists of two contract packages encompassing 20.1 kilometers each: the first segment from Chhusang to Vhena budgeted at over Rs 1 billion, and the second from Vhena to Ghami estimated at around Rs 1 billion. This phase follows a Rs 3.15 billion fiscal authorization from the Ministry of Finance to enhance the trade route, which has generated Rs 6 billion in customs revenue since full operations began.

Landslides, Floods Disrupt Traffic on Major Highways Nationwide

Continuous rain, floods, and landslides have disrupted traffic on several major highways across the country, with some road sections remaining blocked or operating one-way, according to the Nepal Police road update issued as of 2:00 PM Saturday. The Mechi Highway in Ilam has remained completely blocked since July 7, while the Mid-Hill Highway in Bhojpur and the Kaligandaki Corridor in Gulmi are operating one-way. The Saljhandi-Dhorpatan road section in Baglung has been blocked by a landslide since July 10. Meanwhile, traffic on the BP Highway remains restricted as a precaution against possible flooding, while the Kanti Lokpath in Makwanpur and the Karnali Highway in Kalikot have resumed full operation after earlier landslide disruptions.

Altitude Sickness Claims 59 Tourist Lives in Mustang Over 5 Years

A rapid rise in tourism and aggressive single-day travel packages have contributed to 59 altitude sickness fatalities in Mustang over the past five fiscal years, with most deaths occurring along the popular Muktinath Temple pilgrimage route. The victims include 43 foreign nationals, predominantly Indian pilgrims, and 16 Nepali citizens, many of whom were elderly or individuals with pre-existing health conditions. Local medical experts emphasize that traveling abruptly to elevations above 2,500 meters severely depletes oxygen levels, leading to fatal complications if early symptoms like headaches and dizziness are ignored. Despite the availability of dedicated high-altitude treatment centers and primary care facilities across local municipalities, competitive travel itineraries and visitor negligence continue to hamper safety campaigns conducted at the district entrance in Ghasa.

FNCCI Outlines Policy to Modernize Private Investments

The Federation of Nepalese Chambers of Commerce and Industry met with the executive administration on Wednesday to lobby for regulatory shifts toward investment facilitation. The trade association emphasized that the private sector supplies 81 percent of state economic activity and 86 percent of jobs but struggles under regulatory tightening and low market demand. The delegation suggested structural revisions to unblock credit and liquidity traps, aiming for a 7 percent economic growth rate and a USD 1.50 trillion asset economy. Additionally, they requested immediate implementation of the Sunset Law, Debt Recovery Act, and a consolidated, unified tax code to optimize cross-provincial commerce.

Shiva Shikhar Cooperative Returns Savings to 96 More Depositors

The Problematic Cooperative Management Committee has returned savings to 96 more small depositors of Shiva Shikhar Cooperative, continuing its reimbursement drive for victims of troubled cooperatives. With the latest payout, the total number of Shiva Shikhar Cooperative depositors who have received their savings has reached 1,213, the committee said. The committee said reimbursements are being made in phases, with priority given to depositors holding smaller savings. It added that the funds being returned have been recovered through loan collection and the management of assets belonging to problematic cooperatives, in line with prevailing legal provisions.