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Two persons died and seven others were injured when a jeep met with an accident at Bihadi Rural Municipality in Palpa on Wednesday.

The jeep with registration number Lu 1 Ja 4460 was heading towards Waling in Syangja from Purtighar of Kaligandaki Rural Municipality when the accident occurred, according to the District Police Office, Parbat.

The deceased have been identified as Min Prasad Upadhyay (61) of Ranipani of Bihadi-3 and Dil Kumari Bhattachan (64) of Kaligandaki Rural Municipality-4 in Gulmi district, informed DSP Rabin Bista. They died on the spot.

The identities of injured ones are yet to be ascertained, said DSP Bista.

According to him, of those sustaining injuries in the incident, six were sent to Palpa district for further treatment while a baby boy, who sustained minor injuries, is receiving treatment at the local health post.

The incident took place at Lidi of Bihadi Rural Municipality due to brake failure.

Further investigation into the incident is underway, Bista said.

The Nepal Electricity Authority (NEA) has prioritized the construction of pumped storage hydropower projects to manage daily electricity demand fluctuations and enhance the country’s energy security. The NEA’s Project Development Department has identified 156 potential pumped storage projects nationwide.

Of these, 33 projects with a combined capacity of 42,000 MW have been shortlisted and categorized. A feasibility study is underway for a 332 MW pumped storage project in Syarphu Lake, Rukum (West), after obtaining a survey permit. Additionally, the 670 MW Dudhkoshi Reservoir Hydropower Project is studying a 200 MW pumped storage component.

A feasibility study is also being conducted for the 1,596 MW Hulingtar-Dukim Pumped Storage Project in Dhading’s Benighat Rorang and Chitwan’s Ichhakamana rural municipalities. Located near Kathmandu, this project benefits from access to roads, transmission lines, and other necessary infrastructure. The NEA’s Project Development Department is currently conducting a Detailed Engineering Study (DEX) for the project.

The project involves constructing two reservoirs by building 45-meter and 103-meter-high dams on the Hugdi (upper) and Mowa (lower) rivers, respectively. The power plant will be situated on the Mowa River. Electricity will be generated using water stored in the Hugdi reservoir, and after generation, the water will be pumped back from the Mowa reservoir to Hugdi. The project is designed to operate at full capacity for six hours during peak demand periods.

Pumped storage projects store water in an upstream reservoir during off-peak hours when energy prices are low. This stored water is later used to generate electricity during peak hours when demand and prices are higher. These projects play a crucial role in power system stability, peak demand management, and surplus energy utilization. They also enable Nepal to generate and consume electricity efficiently while exporting surplus energy to India at premium rates during peak periods.

On Saturday, NEA Executive Director Kulman Ghising, Project Development Director Nasibman Pradhan, and other officials inspected the Hulingtar-Dukim project site. Ghising highlighted the project’s advantages over others due to its strategic location, favorable environmental and social conditions, accessibility, infrastructure availability, and proximity to transmission lines and power demand centers.

Ghising stated that the project would initially be developed with a capacity of 510 MW in the first phase, eventually expanding to full capacity. “The process of obtaining a survey permit will be prioritized to accelerate construction,” he said. The project is expected to generate approximately 3.36bn units of electricity annually, with an estimated cost of $587,000 per megawatt.

The price of gold has increased by Rs 900 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 170, 400 per tola today. It was traded at Rs 169, 500 per tola on Tuesday.

Similarly, the price of silver has increased by Rs 10 and is being traded at Rs 1, 950 per tola today.

With revenue affected by a slowdown in economic activities which has put pressure on resources, the government has hinted that the upcoming fiscal year’s budget will adopt austerity measures. Issuing guidelines for budget formulation for fiscal year 2025-26, which begins from mid-July, the Ministry of Finance has urged ministries to propose only essential budgets, maintaining fiscal discipline in current expenditures. 

The National Planning Commission (NPC) has given a budget ceiling of Rs 1,900bn for 2025-26. The finance ministry has requested ministries to reduce current expenditures in line with the criteria for making public spending frugal and effective. Budget proposals for software purchases and consultancy services should only be made if they contribute to the development of an integrated system with adequate justification and cost-effectiveness, the guidelines read.

Ministries have also been cautioned to avoid duplication of budget programs. The finance ministry has urged other ministries to not propose any budget for abandoned projects. It has said that expenditure proposals for furniture, fixtures and decorations should be made only in essential cases.

Due to resource constraints, the finance ministry has advised that additional funds should not be sought mid-fiscal year except under special circumstances. Ministries have also been instructed to make budget allocations for service contracts for vacant positions within the approved pay scale only. “Positions occupied by employees working in other offices or outside the pay scale should not be considered vacant, and no budget should be requested for such cases,” it added.

Ministries have also been advised against requesting budgets for purchasing machinery, equipment or furniture. Budgets for vehicle purchases and foreign travel should only be proposed in essential cases, the guideline states. All ministries must submit their budget proposals for the upcoming fiscal year by March 28.

The finance ministry has requested ministries to prepare budget proposals in such a way that it minimizes the need for fund transfers and program revisions. They have also been told to propose programs based on the project classification criteria introduced last year. Ministries have been told to not include projects and programs that can create long-term liability. Likewise, ministries must propose only quality projects and programs with completed preparations and cost-benefit analysis indicating feasibility. They have been instructed to make sufficient allocations for ongoing projects expected to be completed in the next fiscal year before proposing new programs and projects.

To ensure efficient use of limited resources, the finance ministry has told ministries not to spread resources across small projects. Ministries are required to reduce the number of sequential projects and suspend non-implementable and low-priority projects. When proposing projects, ministries have to include only those projects listed in the National Planning Commission's project bank. For new projects where studies are incomplete, budget allocations should only be requested for study and preparatory works, not for implementation.

The finance ministry has said that new projects and programs should be proposed only after ensuring availability of resources. The ministries have also been told to maximize the use of available resources to fulfill periodic plans, sectoral strategies, international commitments and national development goals. “Budget proposals should comply with guidance and suggestions received from the Prime Minister’s Office, constitutional bodies and regulatory bodies, among others”.

Conditional grants and new projects

According to the guidelines, conditional grants under intergovernmental financial transfers should be reprioritized to ensure continuity of quality projects.  “Sufficient funds should be allocated for salaries and other mandatory obligations of working personnel under conditional grants. For supplementary and special grant projects, budget proposals should cover liabilities created, and new projects should only be proposed for remaining amounts,” it added. “New projects should not be proposed if they contradict the criteria set by the supplementary and special grant procedures.”

Ministries and subnational governments have also been told to avoid duplication of projects and maintain institutional coordination to reduce risks by considering disaster sensitivity. Ministries have also been told to prioritize post-disaster reconstruction in their budget requests. “Projects with resource approval from the finance ministry must allocate sufficient funds to cover liabilities in the next fiscal year before proposing other projects and programs. Projects with assured resources should be reprioritized to ensure resource management,” the guidelines added. It states that budget proposals must include mandatory allocations for liabilities created by legally-incurred expenditures. 

A chartered plane carrying Nepalis deported from America landed in Kathmandu on Wednesday.

According to Tribhuvan International Airport (TIA) Spokesperson, Rinji Sherpa, the chartered aircraft with 14 people onboard including the crew members landed at TIA at 10:15 am.

The aircraft from the Portsmouth International Airport in New Hampshire State of the US made a technical stop in the middle before landing directly in Kathmandu, it is said.

The aircraft will return to the US via Albania at 3 pm tomorrow. 

With US President Donald Trump assuming his office for the second term, the US has continued the deportations of the immigrants found without official documents back to home.

Meanwhile, they have been handed to the Nepal Police for further investigation. 

According to the TIA- based Office of the Immigration, they were handed to the police following the completion of immigration procedures.

Immigration Officer Yagya Raj Aryal also confirmed that one more Nepali was deported from the US via the regular flight of Qatar Airways today itself.

Prior to this, the US had deported 27 Nepalis.

The Ministry of Finance has released an additional Rs 3.84 billion for health-related programs, including payment of health insurance.

Deputy Prime Minister and Finance Minister Bishnu Prasad Paudel took the decision to this effect based on the demand of the Ministry of Health and Population, the Finance Minister's Secretariat said.

According to the Finance Ministry, of the amount released, Rs 3 billion has been allocated to the Health Insurance Board, Rs 600 million for the treatment of senior citizens and Rs 240 million to the Sahid Gangalal National Heart Centre for free treatment of heart patients.

The Office of the Company Registrar has fully implemented the Company Administration Management Information System.

In a press statement issued on Monday, the Ministry of Industry, Commerce and Supplies announced the launch of the system.

This new digital system is expected to make the process of handling company-related tasks more convenient, offering services ranging from company registration to annulment without the need for service seekers to be physically present at the office.

The Ministry has encouraged all stakeholders to utilize the service and provide feedback on any issues encountered in using the system.

Deputy Prime Minister and Minister for Finance Bishnu Prasad Paudel has said that the Bill Related to Banks and Financial Institutions (First Amendment), 2080 and the Bill Related to Securities (First Amendment), 2081 should be endorsed from the Parliament at the earliest.

Speaking at the meeting of the Finance Committee under the House of Representatives, he urged the Finance Committee to conclude deliberations on the two bills at the earliest and forward them to the House of Representatives for the discussion.

"I hope that the discussion on the bill related to banks and financial institutions and securities along with the customs bill will be completed soon and the Committee's report on these bills will reach the House of Representatives by mid-April," he said.

The finance minister said that the effectiveness of the committee and the House has been criticized even from the people's level for the sluggishness in law-making.

"There have been criticisms that the law-making process has slowed down. The government's attention has been drawn to this. Considering the national needs, the law making process should be expedited in the case of priority ones," said Finance Minister Paudel.

Today's meeting of the Finance Committee discussed the amendments made to the 'Bill to Amend and Integrate Customs Related Laws, 2080 BS'.

Lawmakers have proposed amendments seeking to streamline the customs administration for trade facilitation, to remove procedural hassles during customs clearance, to cut the discretionary powers of the employees, and to prepare adequate infrastructure for quarantine and quality testing of goods.

The government has brought this bill citing it is necessary to amend the Customs Act to make the customs clearance process more technology-friendly and easy, and to render it compatible with the Kyoto Convention, to which Nepal is a state party.

Similarly, the government has brought this bill stating that the provisions related to customs should be addressed through the Customs Act and rules for trade facilitation.