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The Nepal Stock Exchange (NEPSE) plunged by 32. 45 points to close at 2, 670.94 points on Monday.

Similarly, the sensitive index dropped by 3. 85 points to close at 446. 23 points.

A total of 10,014,866-unit shares of 322 companies were traded for Rs 5. 65 billion.

Meanwhile, Butwal Power Company Limited (BPCL) was the top gainer today with their price surging by 6. 75 percent. Likewise, Himalayan Power Partner Ltd. (HPPL) the top loser with its price dropped by 5. 35 percent.

At the end of the day, the total market capitalization stood at Rs 4. 43 trillion.

Nepal Rastra Bank (NRB) senior Deputy Governor Nilam Dhungana Timsina has been appointed as the Acting Governor.

Timsina was given the responsibility by the Finance Ministry after the recommendation committee formed for the appointment of the Governor delayed the recommendation process.

Deputy Prime Minister and Finance Minister Bishnu Prasad Poudel has appointed Timsina as the Acting Governor in accordance with Section 27 of the Nepal Rastra Bank Act 2058 BS.

A three-member committee comprising former Governor Bijaya Nath Bhattarai and economist Bishwa Poudel has been formed under the coordination of Finance Minister Poudel to recommend the appointment of Governor.

Farmers in the northern region of Sarlahi, known as a major tomato-producing area, have stopped harvesting their tomatoes due to a dramatic fall in market prices. With rates dropping as low as Rs 2 to 4 per kilogram, many farmers say it is no longer worth picking the produce.

Tomatoes are now rotting in the fields, according to local farmers who are frustrated by the lack of market value. “At this price, we can’t even recover our investment,” said Parikshan Mahato, a farmer from Dharatol, Harion Municipality-3. He said the initial market response was encouraging, but prices dropped steeply after tomatoes imported from outside the region flooded the market. “We’ve spent a lot on plowing, planting, and labor. But now, the cost of transporting tomatoes to the market is more than what we get from selling them,” Mahato said. “Even hiring laborers to pick the tomatoes costs money.”

The situation has become so dire that villagers have started picking tomatoes from the fields for their own consumption, said another farmer, Kamal Mahato. “It’s better to let them rot in the field than spend more money trying to sell them,” he said. “This year, it’s been impossible to even recover the production cost.” According to Kamal, tomato crates that used to sell for Rs 2,500 to 3,000 at the start of the season now struggle to fetch even Rs 50. “Our markets are Lalbandi, Nawalpur, and Hariban. But even here, imported tomatoes have taken over,” he added.

Sarlahi-grown tomatoes are usually sold in major cities including Kathmandu and Pokhara. However, with low demand and rising supply from other regions, local farmers say they are left with no option but to abandon their harvests.

Similarly, in Dhading, a district just outside the federal capital Kathmandu, cabbage farmers are now doing the unthinkable—destroying their harvest. In a heart-wrenching scene along the Prithvi Highway near Trishuli riverside in Gajuri, heaps of cabbages lie discarded, chopped and abandoned. These are the same cabbages that could have turned into delicious meals in households across the country. Instead, they’ve become a symbol of despair for the farmers who nurtured them with care and hard labor.

“We raised these cabbages like our own children, investing so much time and money,” said one distressed farmer. “But when it came time to sell, there was no price. We were forced to destroy them in the field.” Even when farmers pleaded with traders to buy the cabbage at just Rs 2–4 per kilogram, they were turned down. With no option left, many resorted to cutting the cabbages and using them as organic fertilizer. “Had the government stepped in to guarantee a fair price, we wouldn't be in this mess,” the farmers said, adding that the pressure of crop loss has brought stress and tension into their families, especially for those who had taken loans to grow the produce.

Now, as they clear out the fields of unsold cabbage, many farmers are preparing to plant chaite rice instead. “Last year, we earned up to Rs 200,000 from cabbage sales. This year, we barely made Rs 5,000 to Rs 7,000,” one farmer said. Some had invested up to Rs 70,000 in cabbage farming—all of which has now gone to waste.

Ironically, while around 33 percent of the vegetables sold in Kathmandu come from Dhading, Nepal imported over Rs 35bn worth of green vegetables from India last year. Farmers here question how local produce grown with such hard work is left to rot while foreign vegetables dominate the market.

Fire incidents in Nepal are increasing by the day, spreading into settlements and destroying homes. Yet, the government has failed to control them. State mechanisms lack adequate equipment and trained manpower to effectively respond. The Nepal Police, often the first responders in such emergencies, are struggling due to a shortage of resources and skilled personnel.

In the past five fiscal years, fire-related incidents have caused damages worth Rs 12bn across the country. According to the Nepal Police Disaster Management Office in Samakhusi, Kathmandu, 79 people lost their lives in fire-related incidents in the fiscal year 2020/21. In 2021/22, the number rose to 92, followed by 109 deaths in 2022/23, 137 in 2023/24, and 59 deaths reported up to Falgun of the current fiscal year.

During this period, 2,054 people were injured, and one person remains missing. Fires have destroyed 72 industries of various types and 5,776 houses across the country. Additionally, 2,942 cowsheds were completely destroyed, displacing 288 people. Police data also shows that three schools and 19 government offices were lost to fire.

With the onset of this year’s summer, two houses were destroyed by fire in Baglung after a forest fire entered a settlement in Amalachaur, Baglung Municipality-12. The homes of local residents Neel Prasad Regmi and Dandapani Regmi were completely damaged. Though locals managed to bring the fire under control, they could not prevent the damage.

In total, three community forests in Baglung have caught fire this season. According to Man Kumar Chhantyal, Forest Officer and Information Officer at the Division Forest Office, Baglung, 46 hectares of Deurali Community Forest in Nisikhola, three hectares of Mauribhir Community Forest in Dhorpatan Municipality, and the Tarebhir area of Jalukepatal Community Forest in Jaimini Municipality have been affected.

In Pandanda, fires completely destroyed the three-storey zinc-roofed house of Lok Bahadur Thapa, the hut of Rail Bahadur Thapa Magar, and the hut and toilet of Tilak Bahadur Rayamajhi. The fire, which broke out in the scorching afternoon heat, was brought under control by a combined effort of the Nepal Police, Nepal Army, Armed Police Force, Forest Office, and the Sandhikharka Municipality fire brigade.

A major challenge in managing and controlling disasters lies in the demographic shift in villages—now largely populated by the elderly and children, with most youth having migrated. Locals say the lack of manpower makes it difficult to control fires, even in neighboring houses. Although local governments have made efforts, they are unable to cover all settlements, and fire brigades rarely reach remote villages. The problem has continued to grow due to the lack of prioritization in disaster management.

Rudra Pulami, ward member of Baglung Municipality-12, shared his concerns about the absence of young people in villages during emergencies. “There’s no manpower in the village. The elderly and children are not capable of putting out fires, even in their own homes,” said Pulami. “We’ve suffered great losses due to the absence of a nearby police post.” He added that the government only seems to respond during disasters, showing negligence at other times.

The Nepal Police are the primary responders during fires and other disasters. With proper training and equipment, they could effectively manage such emergencies. However, security agencies—including the police, who work around the clock—constantly face shortages. Due to budget constraints, the police are unable to provide fire-control training or sufficient equipment for their field personnel.

“The entire budget can’t be spent just on equipment and manpower,” said Taradevi Thapa, Office Chief and Senior Superintendent of Police (SSP) at the Nepal Police Disaster Management Office, Samakhusi. “Our office currently has 50 ready-to-deploy personnel.”

According to her, a total of 125 trained police officers are stationed across the seven provinces, ready for deployment in fire emergencies. However, she admits this number is not sufficient. Thapa urged the Nepal government to allocate a larger budget for disaster management in the upcoming fiscal year. “Basic training alone is not enough,” she said. “The government should focus on developing both manpower and procuring necessary equipment.”

Thapa also shared that the police are currently working on a fire control action plan. Under this plan, awareness programs are being conducted by visiting forest settlements and at-risk villages. “We’ve been holding community-level programs with the participation of local governments, forest user groups, and residents,” she said. “These include door-to-door awareness campaigns and the distribution of informative pamphlets in fire-prone areas.” She also emphasized the need for annual training for police personnel involved in disaster response.

Thakur Bhandari, Central President of the Community Forest Users Federation, Nepal, blamed the government for the spread of forest fires into settlements. “If community forest groups were allowed to run industries based on forest products, there would be fewer forest fires,” he said. “Current industrial policies restrict such operations, leading to an increase in fire incidents.”

However, Bhandari also credited community forest workers with preventing many potential fires. According to federation data, Nepal has 23,266 community forest user groups managing 2.4m hectares of forest, directly benefiting 3.2m households and 16 million individuals. “Since our establishment, the federation has run grassroots awareness programs to prevent forest fires,” Bhandari said.

He also urged the state to facilitate industries based on forest products such as woodworking and furniture. Bhandari expressed disappointment that despite repeated requests to the Government of Nepal and the Ministry of Information and Communications to set up mobile phone alerts with fire warnings, no action has been taken.

The Hetauda Cement Industry has resumed production from today after a gap of nearly five months.

It is said that cement production, which was halted due to lack of electricity required for the industry, has resumed with the supply of electricity.

Officiating General Manager of the Industry, Nabin Kumar Karna, said that the industry needs eight megawatts of electricity per day to crush limestone.

Currently, 1,900 metric tons of coal required by the industry has been kept in stock. In the second phase, preparations are underway to procure about 4,000 metric tons of coal through the bidding process, Karna said.

The factory, established at Lamsure of Hetauda in 2033 BS, was inaugurated after a decade in 2043 BS. At that time, Rs 1.5 billion was invested in the Hetauda Industry.

At present, 195 people are currently employed in the administrative, trade, accounts, store, technical and labor units of the industry.

Although the Industry has a capacity to produce 18,000 sacks of cement per day, it is currently producing only 12,000.

Rastriya Swatantra Party President and former Managing Director of Gokha Media Group Rabi Lamichhane has been sent to jail for judicial custody on Monday.

He was arrested and sent to jail after the Tulsipur-Butwal Bench of High Court overturned the order of Rupandehi District Court to release him on bail of Rs 10 million in cooperative and organized crime.

Earlier, both the District Attorney's Office and Lamichhane had appealed to the High Court, stating that they were dissatisfied with the district court's order.

Rupandehi District Police Office SP Ranjit Singh Rathore said that Lamichhane was sent to jail in Bhairahawa after presenting him at the District Court following the order of the High Court.

Lamichhane, who was arrested in Kathmandu on Friday, was taken to Bhairahawa from Tribhuvan Airport on Saturday morning. Later, he was kept in custody at the District Police Office.

He was produced at the court today as there were holidays on Saturday and Sunday.

On January 19, the District Attorney's Office, Rupandehi, had filed a case in the Rupandehi District Court making President Lamichhane among others as defendants in connection with the fraud case of the Supreme Savings and Credit Cooperative Society in Butwal.

The sixth BIMSTEC summit held in Bangkok on April 4 has issued a declaration titled Prosperous, Resilient and Open BIMSTEC. The summit has expressed satisfaction on the coming into force of the BIMSTEC Charter on 20 May 2024. The summit has adopted the BIMSTEC Bangkok Vision 2030 for common aspiration toward a forward-looking BIMSTEC region that is prosperous, resilient and open to tackle challenges and seize opportunities for the coming decade. It has agreed to take appropriate measures on priority basis in the areas of mutual benefit to build a robust BIMSTEC to address the contemporary global challenges, expressed in the BIMSTEC Bangkok Vision 2030 (included as Annexure) as part of this declaration.

It has also adopted the rules of procedures for BIMSTEC Mechanism as recommended by the ministerial meeting and reiterated the commitment to timely holdings of the summit and meetings of all BIMSTEC mechanisms. The summit commended the Eminent Persons’ Group on the future direction of BIMSTEC for their report and recommendations, and emphasised on the early implementation of recommendation. The secretary-general has been mandated to monitor and report the progress of implementation of EPG’s recommendations to the summit.

The summit reiterated commitment to swiftly conclude the BIMSTEC Free Trade Area Agreement (FTA) and direct the Trade Negotiating Committee and its working groups to finalize the constituent agreement to BIMSTEC FTA without any further delay.

Acknowledging that several BIMSTEC member-states are poised to graduate from the LDC status, face structural constraints and challenges that hinder their competitiveness in external trade due to the, among others, high trade and transit cost and commit to extend necessary support to the graduating and land-locked member-states in their development efforts, with a view to ensuring equitable benefits during the implementation of BIMSTEC FTA, the declaration says.

The summit urged the member-states to explore the possibility of establishing BIMSTEC mutual recognition arrangements of standards to reap the benefits of trade facilitation measures within the region. It further urged the member-states to finalize the agreement on trade facilitation and agreement on cooperation and mutual assistance in customs matters on a priority basis.  The declaration also called for encouraging relevant officials of member-states to explore the possibility of establishing digital cross-border payment systems and trade settlements in local currencies, noting that some member-states have already adopted the Unified Payments Interface (UPI).

The price of gold has dropped by Rs 700 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 173, 800 per tola today. It was traded at Rs 174, 500 per tola on Sunday.

The price of silver, however, has increased by Rs 30 and is being traded at Rs 1,830 per tola today.