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The Urja Developers signed a share purchase agreement with the Hydro Village Private Limited (HVPL) for the development and operation of the 57.3 MW Myagdi Khola Hydropower Project (MKHPP).

Chairperson of Urja Developers Bijay Bahadur Rajbhandary and Chairperson of Hydro Village Capt. Rameshwar Thapa signed the agreement at a ceremony in the capital on Sunday, read a statement issued today.

Bhanu Pokharel, Managing Director of Urja Developers, said the agreement with Hydro Village was part of their endeavor towards serving domestic and regional needs for clean energy. "It's definitely a matter of honor to be working together with one of the leading organizations in the clean energy sector," Sushil Pokharel, Managing Director of the HPVL said. He further added, "With this new collaboration, we hope to accelerate our pace and hope to establish Myagdi Khola as an outstanding project."

Earlier, the government-owned Hydroelectricity Investment and Development Company Ltd (HIDCL) invested equity in MKHPP. The project is estimated to cost around US$100 million. The project will have an annual average production of 335 GWh. Following this agreement, HIDCL, Ujra Developers, Simrik Ventures, BizBell and a Singapore-based firm Aqua Venture will have the joint ownership of the project.

HVPL was established in 2015 and has been actively advocating for an investment-friendly climate to unleash hydropower potential of Nepal. Incorporated in 2016, Urja Developers is one of the leading brands in the clean energy sector and has been providing holistic solutions for the implementation of hydropower and Renewable Projects projects.

The Myagdi Khola hydropower project is located in Jeltingubagad Dhaulagiri Rural Municipality of Myagdi district, in Gandaki province. Electricity generated from the project will be evacuated through a NEA’s substation at Dandakhet, 17 kilometers away from the powerhouse of the project.

The main opposition CPN-UML has decided to protest against Janardan Sharma, who has been reappointed as the Finance Minister on Sunday, from the House and streets.

Chief Whip Bishal Bhattarai said that the party has decided to protest from the House and streets after the government turned a blind to the differing views of the parliamentary probe committee.

“The report was prepared by ignoring their views. We will go among the people with a different opinion,” he said, adding, “We will protest from the House and streets.”

Sharma had resigned from his post after the government formed an 11-member probe committee to investigate allegations that he invited two unauthorized persons to the Finance Ministry to two tweak tax rates on the eve of budget announcement.

The committee had two members each from the Nepali Congress, and the Maoist Centre, and one each from the CPN (Unified Socialist), the Janata Samajbadi Party and the Loktantrik Samajbadi Party.

The Nepali Congress, the CPN (Maoist Centre), the CPN (Unified Socialist) and the Janata Samajbadi are allies in the ruling coalition.

But, Prime Minister Sher Bahadur Deuba gave Sharma the responsibility of the Finance Ministry again after the probe committee could not find substantial evidence to prove that he involved two outsiders to make last-moment changes in the budget.

CPN (Maoist Centre) leader Janardan Sharma been reappointed as the Finance Minister on Sunday.

President Bidya Devi Bhandari on the recommendation of Prime Minister Sher Bahadur Deuba appointed him as the Finance Minister today, Sagar Acharya, spokesperson at the President’s Office, said.

He is scheduled to take the oath of office and secrecy today itself.

Sharma had resigned from his post after the government formed an 11-member probe committee to investigate allegations that he invited two unauthorized persons to the Finance Ministry to two tweak tax rates on the eve of budget announcement.

But, the Prime Minister gave him the responsibility of the Finance Ministry again after the probe committee could not find substantial evidence to prove that he involved two outsiders to make last-moment changes in the budget.

Nepal reported 620 new Covid-19 cases and one death on Sunday.

According to the Ministry of Health and Population, 2, 651 swab samples were tested in the RT-PCR method, of which 496 returned positive. Likewise, 3, 195 people underwent antigen tests, of which 124 were tested positive.

According to the Ministry of Health and Population, 11, 967 have lost their lives to the virus so far.

As of today, there are 4, 567 active cases in the country.

The Nepal Stock Exchange (NEPSE) gained 54.58 points to close at 2,195.10 points on Sunday.

Similarly, the sensitive index surged by 9. 72 points to close at 419. 20 points.

A total of 11,339,486 unit shares of 220 companies were traded for Rs 4. 60 billion.

In today’s market, all sub-indices saw green except for Finance.

Meanwhile, Nepal Insurance Co. Limited, Neco Insurance Limited, IME General Insurance Limited, Prudential Insurance Co. Ltd and NGP Insurance Co. Ltd were the top gainers today, with their price surging by 10. 00 percent. Goodwill Finance Limited Debenture was the top loser as its price fell by 3. 94 percent.

At the end of the day, total market capitalisation stood at Rs 3. 13 trillion.

The operators of Gautam Shree Cooperative Company Limited in Kuleshwor, Kathmandu have absconded by pocketing billions of rupees of the depositors.

On Sunday, the depositors jointly filed a complaint at the Department of Cooperative saying that the operators of the cooperative fled Kathmandu by accumulating their money.

Though they were told that the office will be closed for a week, the owners went out of contact by not returning their money, the victims said.

Victim Bijay Kumar Ranjit said that they filed the complaint as the operators embezzled around Rs 5 billion of the depositors.

The victims said that the Everest Bank pasted a notice at the office of the cooperative after the owners absconded by misappropriating billions of the rupees.

It has been learnt that the Department has already written to the Crime Investigation Division of the Nepal Police to look into the incident.

Police have taken action against 16 school bus drivers for violating the traffic rules.

Among them, five were found driving the school bus under the influence of alcohol.

Senior Superintendent of Police Rajendra Prasad Bhatta of the Kathmandu Valley Traffic Police Office, Ramshahpath, said that they have taken action against all of them for violating the traffic rules against the School Bus Guideline 2074.

He said that the checking campaign which started on July 8 will be continued.

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

According to the Federation of Nepal Gold and Silver Dealers' Association, the precious yellow metal is being traded at Rs 95, 800 per tola today.

Meanwhile, tejabi gold is being traded at Rs 95, 300 per tola.

The yellow bullion was traded at Rs 95, 600 per tola on Friday.

Similarly, the price of silver is being traded at Rs 1,230 per tola today.