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After the tomato, the price of onion is getting dearer, making the kitchen costlier for Nepalis. After India imposed a 40 percent export duty on onion, the price of onion in the Nepali market has surged by 29 percent. 

The whole price of onion in the Kalimati Fruit and Vegetable Market rose to Rs 80 per kg on Monday from Rs 62 per kg on Sunday. The retail price, according to vegetable traders, has increased to Rs 90-100 per kg from Rs 70 kg. 

While the average daily supply of onions to the Kalimati Market is 100 tons, it has fallen to 40 tons on Sunday. 

The Indian government on Saturday imposed a 40 percent export duty on onions to improve domestic supplies and tame inflation. The export duty will be in effect until 21 Dec 2023. According to Indian media, the step has been taken to improve the domestic availability of onions and contain the price rise.

Nepal heavily relies on imported onions from India due to minimal domestic production. The country imported 180,190 tons of onions worth Rs 6.75 billion in the last fiscal year. As per the Agriculture Ministry, in the fiscal year 2021/22, Nepali farmers cultivated onions across an area of 13,189 hectares and produced 166,904 tons.

Nepal is among the top five export destinations of Indian onions. In the April-June 2023 period, India exported onions to 65 countries, of which a maximum quantity of 1.39 lakh tons was shipped to Bangladesh. Besides Bangladesh, Malaysia (1.07 lakh metric tons), United Arab Emirates (0.90 lakh metric tons), Sri Lanka (0.80 lakh metric tons), and Nepal (0.39 lakh metric tons) are among the top five destinations of Indian onions.

However, even before the Indian government moved, the price of onion in the Nepali market has been increasing, mainly due to the government’s decision to impose value-added tax (VAT) on imported vegetables. 

Prior to the budget announcement on May 29, onions were being sold at Rs 16 per kg in the wholesale market. However, following the budget announcement, their price escalated to Rs 32 per kg. And, on Sunday, the average wholesale price of onions reached Rs 62 per kg in the Kalimati Market.

The Nepal Stock Exchange (NEPSE) gained 17.69 points to close at 2,015.98 points on Tuesday.

Similarly, the sensitive index surged by 3.36 points to close at 385. 98 points.

A total of 6,031,356-unit shares of 277 companies were traded for Rs 1. 33 billion.

Meanwhile, Kutheli Bukhari Small Hydropower Limited was the top gainer today, with its price surging by 9. 98 percent.

Likewise, Laxmi Laghubitta Bittiya Sanstha Ltd. was the top loser as its price fell by 4.42 percent.

At the end of the day, total market capitalization stood at Rs 3. 01 trillion.

Vehicular movement along the Narayangadh-Munglin road section has resumed from Tuesday afternoon after 17 hours.

The road section was obstructed following a landslide at Namsikhola in Ichchhakamana Rural Municipality- 6 of Chitwan at 8 pm on Monday, Information Office at the Road Division Office, Chitwan Chandeshwor Sah said.

The vehicles that were stranded due to the landslide have headed towards their respective destinations.

Minister for Energy, Water Resources and Irrigation Shakti Bahadur Basnet has said the power trade agreement would be reached with Bangladesh soon.

Talking to journalists at Bharatpur airport today, he made it clear that the announcement of the agreement would also be made within this year. "Some topics remain to be formalized and this is also in the final phase. It goes into execution once the agreement is signed," the energy minister said.

Minister Basnet further added that Nepal is going to be self-sufficient both in the dry and monsoon period, saying, "We are going to be fully self-sufficient in electricity and all the problems would be resolved after this."

He claimed that the problem of over-production of electricity during the rainy season and its shortage in the dry season would be resolved very soon. He said that works are on for making the distribution system systematic by increasing the production. 

Stating that the electrification which covered only 50 percent area has been expanded to 90 per cent area, he claimed the problems seen at present would be resolved soon.

"The problems seen at present would be resolved in the dry season. The government is carrying out works of systematizing the energy production, transmission and distribution through an integrated plan," he asserted.

Along with this, the topic of power trade in an accessible manner has also been linked with the integrated plan, according to the Minister.

"We have been carrying out works of reforming the policy and laws for making all these topics more effective," he added.

The Central Investigation Bureau of Nepal Police has submitted the investigation report with opinion to the District Attorney Office of Kathmandu in the Lalita Niwas land grab case.

CIB spokesperson Nawaraj Adhikari said that the report with suggestions has been submitted to the District Attorney Office on Tuesday morning after completing the investigation.

“The report prepared after carrying out an investigation for 57 days in the Lalita Niwas land grab case has been submitted to the District Attorney Office. It has been suggested that those arrested in that case be prosecuted for forgery and organized crime,” he said.

The CIB has given final shape to investigation after interrogating former prime minister duo Baburam Bhattarai and Madhav Nepal.

Of the 23 people arrested so far in the Lalita Niwas land scam, three were released through habeas corpus writ. The remaining 20 are being investigated by keeping them in custody.

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Then prime ministers, ministers, secretaries, Guthi Sansthan, officials of Land Revenue Office are involved in the case.

Police have arrested 20 people including Secretary at the Ministry of Communications Krishna Bahadur Raut, Bhatbhateni Supermarket operator Min Bahadur Gurung, former Election Commission commissioner Sudhir Kumar Sah, and former government employees in the Lalita Niwas land case.

Earlier, the CIB had submitted a report with the opinion that a case should be filed against 300 people after completing the investigation.

But the District Attorney Office returned the investigation report to the police recommending further investigation.

The price of gold has increased by Rs 200 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 110, 500 per tola today. It was traded at Rs 110, 300 per tola on Monday.

Meanwhile, tejabi gold is being traded at Rs 109, 950 per tola. It was traded at Rs 109, 750 per tola.

Similarly, the price of silver has increased by Rs 25 and is being traded at Rs 1,415 per tola today.

Vehicular movement along the Narayangadh-Mugling road section, which was obstructed by the landslide, will resume after six hours, the Road Division said.

The landslide occurred in Namsi at 8 pm on Monday, said Information Officer at Road Division, Engineer Chandeshwor Saha, adding that four excavators are being used to remove the debris.

Although the machines were mobilized to clear the obstruction at 10 pm, it will take six more hours for complete removal of obstruction.

Only 30 percent debris has been removed so far, according to police chief at Area Police Office Muglin, Inspector Bishal Tamang.

The vehicles including passenger buses have been stranded at different places along the road following the landslide triggered by rainfall.

The vehicles coming from Kathmandu are stopped at Muglin, Kurintar, Phisling and Dhading, while those from east-west highway at Bharatpur and Gaindakot, Nawalpur.

An all-party meeting is underway at the President’s Office in Sheetal Niwas. President Ram Chandra Paudel had called the meeting for Tuesday morning.

But the all-party meeting called by President Paudel has become controversial.

The main opposition CPN-UML boycotted the meeting saying that the President is trying to show the activisim, which is not in the Constitution.

Prime Minister Pushpa Kamal Dahal, Nepali Congress President Sher Bahadur Deuba, Rastriya Swatantra Party President Rabi Lamichhane, Rastriya Janamorcha Party Chairman Chitra Bahadur KC, Nagarik Unmukti Party Chairperson Ranjita Shrestha, CPN (Unified Socialist) leader Metmani Chaudhary, Janamat Party leader Abdul Khan and Defense Minister Purna Bahadur Khakda among others are present in the meeting.

President Paudel’s press advisor Kiran Pokharal said that representatives of all the parties representing the Parliament were called in the meeting.

But the main opposition CPN-UML expressed its dissatisfaction saying that the President called the meeting by showing unnecessary interest.

UML Vice-Chairman and Parliamentary Party deputy leader Subash Chandra Nembang said that President Paudel has shown unnecessary activeness by calling another meeting at a time when the Prime Minister is holding a meeting with the leaders of the political parties.

The UML has been obstructing Parliament proceedings for the past one month demanding formation of a high-level probe committee to investigate the recent gold smuggling case.

As the government has expressed its readiness to form the high-level probe committee, the UML said that it would not obstruct the Parliament business today.