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The Nepal Rastra Bank (NRB) made public the monetary policy for the fiscal year 2024/25 on Friday.

The monetary policy was made public following the approval from the meeting of the Board of Directors held today.

Nepal Rastra Bank Governor Maha Prasad Adhikari made public the monetary policy from the building of the Nepal Rastra Bank in Baluwatar.

Two persons died when two trucks collided with each other at Bhateri along the Narayanghat-Mugling road section in Chitwan on Friday.

The deceased have been identified as Mehatab Alam (24) of Uttar Pradesh, India and Pramod Patel (33) of the Birgunj Metropolitan City, SP Bheshraj Rijal said. Alam was driving a truck (container) from India. 

Critically injured in the accident, the two died while receiving treatment at the Chitwan Medical College.

Sawan Aahammad, the helper of the Indian truck, is critically injured in the accident and is receiving treatment at the Chitwan Medical College, police confirmed.

The price of gold has dropped by Rs 300 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 144, 700 per tola today. It was traded at Rs 145, 000 per tola on Thursday.

Similarly, tejabi gold is being traded at Rs 143, 000 per tola.

Similarly, the silver is being traded at Rs 1,730 per tola today.

The Beni-Darbang road section has been obstructed following a landslide triggered by incessant rainfall at Sirubari in Raghuganga Rural Municipality-2 in Myagdi district this morning.

Sub-Engineer of Beni-Jomsom-Korala Road Project Sohan Jung Karki said that a massive stone that fell off the cliff has caused road obstruction.

Karki said that a bulldozer along with a stonebreaker is being dispatched to break the stone. He said, "We are preparing to break the stone to resume the vehicular movement by today itself." 

The loss of 18 lives in the Saurya Airlines crash in Tribhuvan International Airport on Wednesday has once again thrust Nepal’s aviation safety record into the spotlight. This incident, which occurred at the country’s primary international gateway equipped with modern safety and navigation infrastructure, has raised serious questions about the state of air safety in Nepal. 

This is the fifth accident within the Tribhuvan International Airport (TIA) premises so far, with four of these incidents resulting in fatalities. Fifty-one passengers died when a Bombardier Q400 aircraft of the US-Bangla Airlines crashed while landing in TIA in 2018. Frequent air accidents have hampered Nepal’s efforts to remove itself from the European Union’s Air Safety List, which prevents Nepali carriers from flying into European airspace. 

Experts blame a dual role on the part of the Civil Aviation Authority of Nepal (CAAN) as both regulator and service provider for the safety lapses. This conflict of interest has long been identified as a major obstacle to effective oversight and enforcement of safety standards. The European Union (EU) has cited it as one of the factors contributing to Nepal’s inclusion in its blacklist. The bill to separate these functions of CAAN has been pending in the Parliament for years, despite an urgent need to pass this crucial legislation and remove the country from the list. Nepal can establish a more robust, independent oversight mechanism by creating separate entities for regulation and airport operation. This would enable the regulatory body to focus solely on enforcing safety standards without conflicting pressures of airport management and commercial considerations.

Legal reforms alone won’t guarantee a safer sky, though. Strict implementation of recommendations by crash study commissions, regular audits of airlines and airports, and continuous training and capacity building for aviation personnel are equally important for ensuring safe skies. Inquiry commissions are formed after every air accident. However, recommendations made in the report of these commissions are not implemented. Moreover, there is a need to deploy cutting-edge technology and modern infrastructure at airports, especially outside the Kathmandu valley, given Nepal’s challenging topography and adverse weather conditions. Upgrading navigation systems, improving runway conditions and enhancing emergency response capabilities are also important to mitigate the risks of flying in Nepal.

Aviation is not just a mode of transport, but an important component of the Nepali economy. A safe and reliable air transport is crucial for the Nepali tourism industry, an important source of foreign exchange for the country. Safety lapses not only risk lives but also jeopardize Nepal's economic future.

As many as 134 people have lost their lives as of Thursday due to floods and landslides since June 10.

Deputy Inspector General (DIG) of Nepal Police and Nepal Police Spokesperson, Dan Bahadur Karki, said that two people died in the Kathmandu Valley, 22 in Koshi Province, six in Madhes Province, 25 in Bagmati Province and 38 in Gandaki Province.

Likewise, 23 people lost their lives in Lumbini Province, eight in Karnali Province and 10 in Sudurpaschim Province.

Karki stated that 148 people were injured including nine in the Kathmandu Valley, 34 in Koshi Province, nine each in Madhes, Lumbini and Bagmati Provinces, 29 in Gandaki Province, 35 in Karnali Province and 14 in Sudurpaschim Province.

Seven people are still missing in the floods and landslides and a search for them is underway, DIG Karki said.

A total of 4,030 families were displaced by the monsoon-related disasters during the period, according to Karki.

Three members of a family died after being buried in a landslide at Pharpu Village in Gokulganga Rural Municipality-6, Ramechhap on Thursday.

Chief of District Police Office of Ramechhap Pradip Kumar Singh said that Sita Tamang (18), Ashika Tamang (14) and Laxmi Tamang (13) were buried after a part of local Biman Tamang's house collapsed in the landslide.

Chairman of Gokulganga Rural Municipality-6 Chandra Sunuwar said that Biman and his spouse, who were residing in a separate room of the house, are safe.

Nepal was elected the Vice President for the Asia-Pacific states of the UN Economic and Social Council (ECOSOC).

Chief of the Permanent Mission of Nepal to the United Nations in New York, Lok Bahadur Thapa, will lead Nepal in the 54-member ECOSOC. Nepal will be the chair of the Asia-Pacific states next year.

Nepal's election to Vice President of the ECOSOC, one of the six main organs of the United Nations, was a matter of pride for the nation, former Ambassador Sundarnath Bhattarai said.

The ECOSOC is the platform for fostering debate and innovative thinking, forging consensus on ways forward, and coordinating efforts to achieve socio-economic progress including Sustainable Development Goals (SDGs).

The 54-member Council also elected two other Vice Presidents: Krzysztof Szczerski of Poland for Eastern European states and Maritza Chan Valverde of Costa Rica for Latin America and Caribbean states.

A Vice President from the African States regional group will be elected at a later date, it is said.

Likewise, Thapa pledged to work closely with all the member states in achieving the SDGs.

Last year, Nepal was elected a member of the ECOSOC with the highest number of votes from the Asia Pacific region for a three-year term of 2024-2026.