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 Minister Dr. Swarnim Wagle Assumes Office with Reform Mandate

Newly appointed Finance Minister Dr. Swarnim Wagle officially assumed office on Friday following his swearing-in by President Ram Chandra Paudel. Ranked second in the newly formed cabinet of Prime Minister Balen Shah, Wagle immediately moved to implement recommendations from the High-Level Economic Reform Suggestion Commission 2024. His first executive decisions included initiating the dissolution of the Revenue Investigation Department and the repeal or amendment of 15 restrictive laws, such as the Export-Import (Control) Act 1956 and the Foreign Investment Prohibition Act 1964.

Dr. Wagle, an economist with experience at the World Bank and UNDP, won his seat from Tanahu-1 with 38,040 votes. He has pledged to release a comprehensive “Economic Status Paper” within five days and develop a 100-day action plan to transition the ministry toward “paperless” and “cashless” systems. His leadership is expected to address slow economic growth and low revenue collection through systemic reforms rather than discretionary authority. The 15 acts targeted for reform include the Black Marketing Act of 1975, the Private Forest Nationalization Act of 1956, and the Nepal Agency Act of 1957, aiming to eliminate procedural hurdles for large-scale development projects and private enterprises.

EPF Deposits Rs 5.30 Billion Profit into Contributors’ Accounts

The Employees Provident Fund (EPF) has deposited Rs 5.30 billion into the accounts of its contributors from the profits earned in fiscal year 2024/25. Following a board meeting on Friday, at least Rs 5.19 billion was allocated to regular provident fund savers and Rs 105.5 million to Social Security-based pension contributors. Savers received a 1 percent profit bonus on their initial balance, bringing the total annual return to 5.25 percent. Currently, the EPF serves 578,000 regular members and 96,000 pension contributors, offering various credit facilities and social security benefits.

SSF Disburses Rs 19.45 Billion in Claims

The Social Security Fund (SSF) has paid out Rs 19.45 billion to 277,461 contributors across four major schemes since July 17, 2019. As of yesterday, the Old Age Protection Scheme saw the highest disbursement of Rs 15.906 billion. Medical and maternity benefits accounted for Rs 2.958 billion, while accidental and dependent family schemes received over Rs 589.8 million. Total contributions collected have reached Rs 105.26 billion. Currently, 2,873,033 individuals and 23,334 employers are registered with the fund.

Foreign Employment Board Provides Rs 730 Million in Assistance

The Foreign Employment Board has distributed Rs 730 million in financial assistance to the families of 983 deceased migrant workers in the first eight months of fiscal year 2025/26. Executive Director Dr. Dwarika Upreti stated that since the compensation was increased to Rs 1 million per family, the financial burden on the board has grown. During this period, the board also facilitated the rescue of 601 injured workers and the management of 685 bodies. Records show that 12,000 young Nepalis have died abroad in the last 12 years, with a record 1,492 deaths occurring in the last fiscal year alone.

Bird Flu Outbreak Destroys Poultry Worth Rs 26.2 Million in Koshi

The poultry industry in Koshi Province is facing a crisis as bird flu infections have been confirmed in 13 farms across Jhapa, Morang, and Sunsari. At least 53,990 layers and 550 broiler chickens have been culled, along with the destruction of 109,421 eggs and 17,350 kg of feed. Initial estimates suggest a loss of Rs 26.2 million. The outbreak, the largest since 2021, has hit Urlabari and Damak the hardest. Local authorities are monitoring illegal transport to prevent the virus from spreading to hilly districts.

Birgunj Customs Imports Surge by Rs 58.91 Billion in Seven Months

During the first seven months of the current fiscal year, goods worth Rs 595.46 billion were imported through the Birgunj border point. According to the Birgunj Customs Office, this represents an 11 percent increase, or Rs 58.91 billion more, compared to the Rs 536.55 billion imported during the same period last fiscal year. Petroleum products and iron-based materials dominate the imports. Specifically, five types of petroleum worth Rs 123.67 billion and iron products worth Rs 52.75 billion were brought in. Other major imports include machinery parts worth Rs 42.48 billion, crude soybean oil at Rs 41.2 billion, and chemical fertilizers valued at Rs 28.59 billion.

Jumla Revenue Office Collects Rs 217.1 Million in Eight Months

The Inland Revenue Office in Jumla collected Rs 217.1 million in revenue during the first eight months of the current fiscal year, falling short of its Rs 264.7 million target for the period from July 17, 2025, to March 14, 2026. The Rs 50 million deficit is due to the Gen Z protest, recent elections, and seasonal economic slowdowns in the Karnali region. With an annual goal of Rs 640 million, the office still needs to collect over Rs 430 million in the remaining four months. While reaching the goal is challenging due to geographical difficulties in Kalikot and Mugu, efforts to improve tax education for the region’s 19,042 taxpayers are ongoing.

Marsyangdi Hydropower Production Drops to 42 Megawatts

Electricity generation at the 69-megawatt Marsyangdi Hydropower Center in Tanahu has fallen to 42 megawatts due to the dry season. Reduced snowmelt and lack of rainfall have significantly lowered the water level in the Marsyangdi River. The center, which operates three turbines of 23 megawatts each, is currently reserving water during the day to meet peak demand in the mornings and evenings. Built in the fiscal year 1989/90, the project supplies power to the national grid through substations in Bharatpur and Syuchatar. Production is expected to recover by mid-June when temperatures rise and the monsoon begins.

Transmission Line Construction for Tanahu Hydropower Reaches 76%

The marking of trees for removal has begun in Chitwan to facilitate the construction of the Damauli-Bharatpur 220 kV transmission line under the Tanahu Hydropower Project. An agreement with the Department of Forests and Soil Conservation allows for the removal of 9,127 trees across 92.7 hectares. KEC International Limited, India, has already completed 69 out of 94 towers, bringing package three progress to 76 percent. Overall, package one (dam construction) is at 54 percent, while package two (powerhouse) is 73 percent complete, with civil works for the underground powerhouse nearly finished by Sinohydro Corporation, China.

Local Unit Executes Ten Pride Projects Worth Rs 62.2 Million

Beni Municipality has implemented 10 pride projects related to roads, tourism, health, and sports infrastructure in the current fiscal year 2025/26. The Beni-Pulachaur-Todke road, with an allocation of Rs 18 million, has achieved 20 percent physical progress. Another major project, the Beni-Maharanithan-Dandakhet road upgrade, has reached 40 percent progress with a budget of Rs 16.5 million. Additionally, the Galeshwar market beautification is 45 percent complete. Mayor Surat KC stated the goal is to finish all 346 ward-level and town-level projects before the monsoon, noting that Rs 19 million has been spent so far.

Rolpa Farmers Generate Rs 108.9 Million from Forest Products

Farmers in Rolpa have conducted trade worth approximately Rs 108.9 million from forest resources in the first eight months of fiscal year 2025/26. Resin collection from 135 community forests accounted for Rs 22.3 million. Additionally, private farming of herbs like Timur and Chiraito generated Rs 93.5 million. This activity created over 73,000 man-days of local employment, providing Rs 13.4 million in wages. The office has achieved 31 percent financial progress, spending Rs 26.9 million of its annual budget.

Chaudhary Group to Launch $100 Million Ritz-Carlton in Kathmandu

The Chaudhary Group (CG) has announced a partnership with Marriott International to bring the luxury brand ‘The Ritz-Carlton’ to Nepal. The ground-breaking ceremony for the project was held in Thamel on Friday. Developed on 4578.60 square meters of land with an estimated cost of USD 100 million, the ultra-luxury hotel will feature 150 rooms, branded residences, and a casino. CG Hospitality Global CEO Rahul Chaudhary stated the project, expected to be completed by mid-2029, signals private sector confidence in the new government led by Prime Minister Balen Shah. Room rates are anticipated to exceed USD 1,000 per night, positioning Nepal as a high-end tourism destination.

Gold Prices Drop in Nepali Market Today

In the last trading day today, the prices of gold and silver have decreased in the domestic market. The price of gold has declined by Rs 4,600 per tola (11.66 grams) and silver by Rs 150 per tola. According to the Federation of Nepal Gold and Silver Dealers’ Association, gold is being traded at Rs 281,000 per tola, while the price of silver has been fixed at Rs 4,670 per tola today. The price of gold was Rs 285,600 per tola and silver Rs 4,820 per tola on Thursday.