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The Gross Domestic Product (GDP) growth rate has contracted to 3.4 per cent in the first quarter of the current fiscal year 2024/25, the National Statistics Office (NSO) said.

The economic growth rate has contracted due to the landslide and flooding occurred on September 27-29 and the negative growth in the construction sector. 

The NSO said the government has set the target of 6 percent economic growth rate in the current fiscal year and only 3.4 per cent GDP growth rate has been achieved in the first quarter of the current fiscal year.

The growth rate of 17 out of the 18 various sectors contributing to the economy is in the positive while that of the construction sector is in the negative.

Among them, electricity and gas-related activities have the highest growth rate of 21.4 percent, while the transportation and storage sector are the second fastest-growing industrial sector with a growth rate of 6.7 per cent. Similarly, the value addition of the accommodation and food service activities sector is estimated to grow by 6.3 per cent.

According to the preliminary estimate, the growth rate of the financial and insurance sector will be 5.7 per cent, the growth rate of the administrative support service sector will be 5.4 percent and the growth rate of professional scientific and technical services will be 5.1 per cent in the current fiscal year.

It is estimated that the construction sector is shrinking slightly due to the decline in import of construction goods in the first quarter of the current fiscal year. The construction sector is negative by 0.3 per cent.

The value-added growth rate of the agriculture, forests and fishery sector, which share the largest space in the country's economy, is estimated to be three per cent. There is a positive impact on total value addition of this sector following an increase in production of summer crops including paddy as well as vegetables, cash crops and poultry products, it is said. 

 Though agro products were expected to be increased following availability of chemical fertilizer, improved seed and sufficient monsoon rain, the total value-added growth rate of the agro sector could not increase sufficiently due to landslides and floods. 

The wholesale and retail trade sector are estimated to grow by 0.5 per cent in the first quarter. According to the office, it is expected to increase the value-added growth rate of the industrial goods production sector by 2.3 per cent, education sector by 0.4 per cent, health sector by 4.1 per cent and real estate sector by 3.1 per cent during the review period.

Country's overall economy is towards positive growth due to increase in agro-production, power production and distribution, and the flow of tourists, reads the report.

The Nepal Stock Exchange (NEPSE) gained 6.38 points to close at 2,653.23 points on Wednesday.

Similarly, the sensitive index surged by 1.02 points to close at 451. 51 points.

A total of 15,502,751-unit shares of 305 companies were traded for Rs 6. 40 billion.

Meanwhile, Samriddhi Finance Company Limited (SFCL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, Samudayik Laghubitta Bittiya Sanstha Limited (SLBSL) was the top loser as its price fell by 10.00 percent.

At the end of the day, total market capitalization stood at Rs 4. 40 trillion.

More than 10, 000 foreign tourists visited the Manaslu area of Gorkha district in 2024. Conservation Officer of Manaslu Conservation Area Project Office, Bhuwan Raj Ojha, said a total of 10,605 foreign tourists visited the area in one year.

The number of foreign tourists in Manaslu area was up by 1,428 this year as compared to previous year.  It was 9,177 last year.

He shared that the number of tourists from countries other than SAARC nations visiting the Manaslu area was high this year. The highest number of tourists from France visited the Manaslu area in 2024 which was 1,335. 

Similarly, 1,881 tourists from Germany, 796 from the US and 159 from India visited the Manaslu area. Tourists from Netherlands, London, Australia, Spain, China as well as from other countries used to visit Manaslu area, mentioned Ojha.

Tourists visiting Manaslu area get the opportunity to enjoy the natural beauty of Manaslu area along with Kulchhuman (Kal) lake, Manaslu peak, Birendra Lake, Shregi mountain, Rajen monastery.

In a historic milestone for aerial sports in Nepal, Simrik Air, in collaboration with local skydiving instructors with over a decade of experience and thousands of successful jumps are leading the country’s first-ever skydiving event, entirely managed by Nepali professionals. The event, taking place from Jan 10 to 21, marks a significant turning point in Nepal’s adventure tourism landscape, highlighting the country’s homegrown talent.

The event is spearheaded by Alish Thapa, a seasoned instructor and aerial sports enthusiast who has been a paragliding instructor for 14 years. In 2017, he completed his first tandem jump, and by 2018, he began intensive training in skydiving. With experience as a Safety and Training Advisor (S&TA), Chief Instructor, and tandem instructor in Thailand, Alish’s vision for establishing skydiving in Nepal is now becoming a reality.

“This has been my dream for years,” says Thapa. “Thanks to Simrik Air, CAAN, and the Ministry of Tourism, we are finally taking steps to establish Nepal as a skydiving hub. With government support for dedicated airspace, skydiving could provide opportunities for youth and year-round economic benefits.”

Thapa is joined by a highly skilled team, including Subash Thapa, Manish Hirachan, Aashish Thapa, and Nepal’s first female skydiver and USPA-certified coach, Yeshoda KC Thapa. Together, they plan to showcase Nepal’s natural beauty and towering peaks to attract global adventure seekers. “Nepal has some of the most breathtaking landscapes for skydiving,” says KC Thapa. “We see immense potential, but proper policies and dedicated airspace are essential to fully capitalize on it.”

While the event is a crucial step forward, the team faces challenges in developing skydiving as a mainstream activity in Nepal. The approval process for skydiving activities is time-consuming, often causing potential clients to lose interest.

“Interested clients often leave because of the long wait times for approvals,” explains Subash. “Pokhara needs a dedicated airspace for aerial sports like skydiving, paragliding, paramotor, hot air balloons, and ultra-light flights. This would streamline operations and enhance Nepal’s reputation as an adventure tourism destination.”

The team believes that with the right policies, infrastructure, and government backing, Nepal could become a global hub for skydiving and other aerial sports. With Pokhara’s stunning landscapes and proximity to the Himalayas, it offers an unparalleled adventure experience.

“This is not just about skydiving,” says Alish. “It’s about creating opportunities for Nepal’s youth and unlocking the economic potential of adventure tourism.”

Enthusiasts wishing to take the leap can contact Simrik Air or the Insky Skydive Team in Pokhara to secure their spots. Two packages are available: the VIP package and the Deluxe package, starting at Rs 95,000.

The Ministry of Energy, Water Resources and Irrigation has sought clarification from Nepal Electricity Authority (NEA) Executive Director Kul Man Singh, citing multiple instances of non-compliance with directives and failure to meet performance agreement obligations.

Sending a letter on Monday, the ministry asked Ghising to submit clarification within seven days on why he she should not be terminated from service.

Ghising, who has been credited with ending decade-long power cuts during his first term, was appointed for a second four-year term on 11 Aug 2021 by the coalition government of Nepali Congress and CPN (Maoist Center). However, his relation with the government started deteriorating when a new coalition government of NC and UML assumed office. The dispute over outstanding dues from dedicated and trunk consumers further aggravated the situation.

The ministry has said in the letter that Ghising denied the ministry detailed information about alleged irregularities in transformer procurement. Despite being given a deadline, Singh submitted only partial details, which, according to the ministry, were incomplete, vague and divergent from the requested information.

The letter also states that Ghising’s ‘note of dissent’, recorded on a decision taken by the NEA board meeting regarding the dedicated feeder and trunk line tariff dispute, demonstrates disobedience to government directives and violates Section 25 of the Nepal Electricity Authority Act.

The ministry has also accused Ghising of not submitting performance evaluation details within the stipulated time frame. “You were required to submit the total score of performance evaluation to the Board of Directors of NEA, and according to Clause 8.6 of the agreement, the evaluation should have been conducted based on Key Performance Indicators (KPIs) for works completed under Key Performance Areas (KPAs). However, you have failed to comply with the agreement by not submitting the required details even after 112 days have elapsed since the mid-August,” the letter states.

The Ministry has also expressed concern over Singh's conduct during board meetings, describing it as ‘uncooperative’. The ministry has termed his behavior as “unprofessional and unsuitable for the head of a government agency”.

“You have acknowledged in writing that you would coordinate with the Ministry and provide the required details promptly. However, as this has not been done, your evaluation cannot proceed under Clause 10.3 of the agreement. Therefore, you are asked to clarify why your appointment should not be terminated under the same clause,” the letter sent to Ghising states.

The Embassy of Israel handed over personal belongings of the October 7 Hamas terror attack victims, and other Nepali students who participated in the ‘Learn and Earn Program’ in Israel in 2023.

These personal belongings, carrying deep sentimental value, were handed over to their rightful owners today at the Embassy, reads a statement issued by the Embassy of Israel on Tuesday.

Ambassador Shmulik Arie Bass made personal efforts to bring these suitcases back to Nepal.

He met with Dhan Bahadur Chaudhary, one of the survivors of the Hamas attack, and six other students and victims’ families.

Ambassador Bass expressed his heartfelt support, listened to the victims’ stories, and extended his best wishes for their future.

The people of Israel stand in unwavering solidarity with the affected Nepali families, and wish for the fast return of Bipin Joshi, the Nepali hostage held by Hamas.

Deepak Bhatta (name changed), a resident of Kailali who has been living in Qatar for three years, lost money after purchasing a scooter advertised for sale online. He is now facing theft charges.

Bhatt had exchanged an iPhone he purchased abroad as payment for the scooter. However, the seller, a young man, had stolen the scooter, which belonged to another woman, and sold it to Bhatta. When Bhatta attempted to use the scooter, the seller disappeared, leaving Bhatt entangled with the Valley Traffic Police Office after the owner filed a complaint about the theft.

According to data from the Valley Crime Investigation Office, Kathmandu, 963 complaints of online fraud have been registered since July 2024, amounting to a total fraud of Rs 378,590,336. Of these, 82 cases have been resolved, with Rs 17m recovered, said Kazi Kumar Acharya, spokesperson for the office.

Acharya detailed various forms of fraud reported, including 26 complaints of lottery scams, 111 cases involving fraudulent claims of parcel arrivals, and 95 incidents of OTP code fraud. Additionally, 215 complaints were related to scams through fake advertisements, while 29 cases involved general scams, 25 stemmed from hacked social media accounts, and 346 were linked to online job scams.

Police have arrested 13 individuals, including one woman, in connection with these cases.

Fraudulent schemes in Nepal have become increasingly sophisticated. Have you received a message from an unknown number claiming you’ve won a lottery or received a gift from abroad? Be cautious—criminal gangs are exploiting such tactics to deceive people.

These fraudsters are using over 500 phone numbers and have targeted unsuspecting victims by promising lottery winnings, parcels, or dreams of traveling to the United States. Hobindra Bogati, spokesperson for the Central Investigation Bureau of Nepal Police (CIB), confirmed that organized gangs are involved in these online scams.

Bogati also noted that fraudsters are monitoring financial transaction apps like eSewa and Khalti. If users are not careful, these criminals can hack into their accounts and steal money. The number of complaints about financial fraud through such platforms is rising, prompting the CIB to issue warnings.

Social media platforms, including Facebook, Instagram, Telegram, WhatsApp, Messenger, Viber, and Imo, are increasingly being exploited for fraudulent activities. Scammers have even targeted government employees by impersonating officials from app headquarters or social media offices.

Fraudsters use AI-generated voices to claim parcels have arrived or demand courier fees. They also send internet links to gain access to victims' devices and banking apps, stealing money through fraudulent transactions.

Gangs also lure victims by uploading attractive videos and photos on various sites under the guise of online businesses. Customers are often duped into paying advances for goods that are never delivered. Police have received numerous complaints of financial fraud, including Rs 5.7m in Pokhara, Rs 1.6m in Chitwan, Rs 550,000 from government employees, and millions from various companies and organizations.

The CIB has urged the public to remain vigilant and avoid responding to calls or messages from unknown numbers. Investigations into these cases are ongoing.

Snowfall along with moderate rain has occurred in high hill territory of the Taplejung district since Tuesday evening.

Normal life has been affected due to snowfall in the northern higher belt of the district, including Pathibhara Temple – a pilgrimage site located at an altitude of 3,794 meters.

Constable at Phedi-based police post Milan Katuwal informed that the trekking route leading to Pathibhara Temple and settlement at Phedi has been receiving snowfall.

This time there has been a brief rainfall in some places of the district after a long time. The farmers who cultivated winter crops were facing problems due to the dearth of rain for a long time after the winter. Farmers said the rainfall with snow will provide some relief.

Executive Director of Pathibhara Area Development Committee, Prajin Hangbang said that the number of pilgrims visiting Pathibhara has decreased for some days due to rise in cold.

However, the arrival of domestic religious tourists has been increasing in Pathibhara every year due to snowfall.