KATHMANDU: Get today’s business update with Nepal News’ Evening Economic Briefing—a concise roundup of the day’s key financial developments in Nepal. Here’s today’s business news summary:

HoR Passes Economic Procedures and Financial Responsibility Ordinance: The House of Representatives (HoR) passed the Economic Procedures and Financial Responsibility (First Amendment) Ordinance, 2081, with a majority vote. Finance Minister Bishnu Prasad Paudel dismissed claims of downsizing key commissions. A proposal by RSP lawmaker Dr. Swornim Wagle to disapprove the ordinance was rejected. Minister Paudel assured Nepal’s removal from the FATF grey list within two years, affirming the government’s commitment to financial reforms and international compliance.

NEPSE Falls by 25.16 Points, Turnover at Rs. 10.97 Arba: The Nepal Stock Exchange (NEPSE) fell by 25.16 points (0.88%) to close at 2,821.13, following a previous session loss of 30.36 points. The index fluctuated between 2,850.16 and 2,808.75. A total of 23.34 million shares were traded, amounting to Rs. 10.97 Arba. Himalayan Reinsurance (HRL) led turnover at Rs. 96.7 Crores. Samaj Laghubitta (SAMAJ) and Guardian Micro Life Insurance (GMLI) gained 10%, while Green Development Bank (GRDBL) saw the biggest loss, dropping 6.84%.

Finance Ministry Begins Budget Formulation for Fiscal Year 2082/83: The Ministry of Finance has initiated the budget formulation process for the 2082/83 BS (2025-26) fiscal year. In a meeting with the Ministry of Physical Infrastructure and Transport, Finance Minister Bishnu Prasad Paudel emphasized fiscal discipline and realistic budgeting. He stressed coordination across all government levels and proposed downsizing small projects. Minister Paudel urged ministries to plan strategically, considering budget ceilings. The Natural Resources Estimation Committee has recommended a ceiling of Rs 196.5 billion.

Banks and Financial Institutions Can Now Issue Multiple Cards to a Single Customer: Banks and financial institutions in Nepal can now issue more than one card to a single customer. Nepal Rastra Bank amended the regulation to clarify this provision. The central bank’s Payment Systems Department issued a circular allowing multiple cards under the domestic card scheme while also revising 71 provisions to enhance risk prevention, identification, and management.

Nepal Rastra Bank Introduces New Policy for Safer Digital Payments: Nepal Rastra Bank has issued a new policy to enhance the security of digital payment systems by categorizing risks and implementing management measures. The revised Integrated Directive 2080 now includes risk assessments for operational, liquidity, business, credit, systemic, and legal risks in electronic transactions.

Key changes focus on network security, anti-money laundering, and counter-terrorism financing. According to Payment Systems Department Head Kiran Pandit, existing policies remain unchanged, with only risk management measures being newly added. The directive now also covers ATM card usage, VPN security, and USSD transactions for safer digital payments.

Finance Minister Pushes for Quick Passage of Key Bills: Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel has urged the swift approval of the BFI (First Amendment) Bill, 2080 and the Securities (First Amendment) Bill, 2081. Addressing the Finance Committee, he emphasized expedited deliberation to ensure implementation by Chaitra-end. The meeting also discussed customs law amendments, aiming to streamline trade, enhance technology use, and align with international agreements.

Government Committed to Removing Nepal from FATF Grey List: Finance Minister Paudel: Finance Minister Bishnu Prasad Paudel reaffirmed the government’s commitment to removing Nepal from the FATF grey list. Speaking in the House of Representatives, he outlined effective government measures and expressed confidence in achieving this goal within two years, possibly sooner. Paudel also announced plans to issue a white paper explaining Nepal’s inclusion in the grey list, detailing past actions and lapses. Dismissing accusations of authoritarianism, he clarified that the ordinance aims to enhance budget efficiency and resource management.

Company Registrar’s Office Launches Fully Digital Registration System: From Monday, Nepal’s Office of the Company Registrar has transitioned to a fully digital company registration system, eliminating in-person visits and procedural delays. The new Company Administration Management Information System (CAMIS) enables online application submission, approval, and digital document processing. While company dissolution still requires identity verification in person, all other services are now online. CAMIS integrates with national databases, streamlining processes and enhancing transparency in company registration and administration.

Nepal Securities Board to Approve IPOs for Half a Dozen Hydropower Companies: Nepal Securities Board is set to approve IPO issuance for six out of 42 hydropower companies in the pipeline. A board official clarified that delays were due to document verification and on-site inspections to protect investors, not intentional halts. The board has completed evaluations and will soon grant approval, ensuring transparency and investor protection.

Banks to Follow NRB Model Regulations After Supreme Court Verdict: The Supreme Court ruled that labor laws do not apply to banks and financial institutions operating under special acts. Following this, banks will now adhere to Nepal Rastra Bank’s (NRB) model regulations for employee service conditions. The Nepal Bankers’ Association discussed the way forward, emphasizing collective bargaining rights and bonuses. The ruling stemmed from a case involving Swabalamban Laghubitta and dismissed employees, overturning a prior labor court decision.

Nepal Micro Insurance IPO Allotment Set for Friday: Nepal Micro Insurance Limited will allot its IPO shares on 23rd Falgun, 2081 (Friday) at 8:30 AM at NIMB Ace Capital Limited, Lazimpat. Of the 22,50,000 units, 10% were allocated to Nepalese working abroad, 3% to employees, and 5% to mutual funds. The remaining 18,45,000 units were issued to the public. With 19,02,984 applicants, only 1,84,500 will receive shares. NMIC, a micro non-life insurer, began operations in 2023 and holds a ‘CARE-NP BB—(Is)’ rating.

Over 1.86 Million Investors to Miss Out on SLBBL’s FPO: Swarojgar Laghubitta Bittiya Sanstha Ltd. (SLBBL) witnessed an overwhelming response to its Further Public Offering (FPO), which was oversubscribed by 119.84 times. By the final application day, 1,882,422 investors had applied for shares worth Rs 2.34 billion. However, only 19,577 applicants will receive shares. SLBBL had issued 195,773 shares at Rs 100 per share starting from Falgun 18.

Nepali Tea Exports Surge Amid Rising Demand: Nepali tea exports have increased by 55.3% in the first seven months of the current fiscal year, reaching 12.39 million kilograms worth Rs 3.166 billion, driven by production declines in India. Despite Nepal’s own 5-million-kilogram production drop due to drought, tea prices have doubled, benefiting farmers. Koshi Province leads exports, contributing 99% of Nepal’s tea shipments. Experts stress the need for quality improvement, branding, and climate resilience for industry sustainability.

Ministers Discuss Solutions for Foreign Employment and Migration Issues: A joint meeting of Foreign, Home, and Labor Ministers was held to coordinate solutions for challenges in Nepal’s foreign employment and migration sectors. Foreign Minister Dr. Arzu Rana Deuba highlighted the need to regulate undocumented migration, particularly of domestic workers to the Middle East. Ministers emphasized revising outdated laws, improving labor approvals, and strengthening Nepal’s labor diplomacy.

Discussion on Policy Issues Related to National Parks: The Public Policy and Delegated Legislation Committee of the National Assembly held discussions with stakeholders on policy issues concerning national parks. Experts emphasized simplifying compensation and relief processes through local governments and integrating economic activities into forest conservation laws. They stressed the need for clear regulations to ensure sustainable forest development and reduce financial burdens on the state.

Minister Khadka Denies Any Political Maneuver to Remove NEA Chief: Energy Minister Deepak Khadka dismissed claims of political interference in the possible removal of Nepal Electricity Authority (NEA) Executive Director Kulman Ghising. Speaking in Dumre, Tanahun, he stated that the government can appoint or remove officials as needed. On NEA’s zero performance evaluation score, he clarified that it resulted from failing to submit reports on time.

Cathay Pacific to Operate Daily Kathmandu-Hong Kong Flights from March 31: Cathay Pacific Airlines will increase its Kathmandu-Hong Kong flights to a daily schedule from March 31, up from the current five weekly flights. Nepal Country Head Junu Maleku said the expansion aims to better serve passengers traveling via Hong Kong. At a recent event in Kathmandu, Maleku credited cargo and travel companies for their support. Regional General Manager Rakesh Raicar also announced plans to add more destinations in 2025.

Gold Price Rises by Rs 900 Per Tola in Nepal: Gold prices in Nepal rose by Rs 900 per tola today, reaching Rs 170,400, up from Rs 169,500 on Tuesday, according to the Federation of Nepal Gold and Silver Dealers’ Association. Silver prices also increased by Rs 10 per tola, now set at Rs 1,950.