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With the Nagdhunga-Sisnekhola tunnel road nearing completion, the government is considering building 23 new highway tunnels on major roads across the country.

According to the Ministry of Finance, nine tunnel roads, including Tathali-Rabi Opi (Kavre), Prabas-Jorte (Palpa), Besisahar-Nalmabesi (Lamjung), Tokha-Chahare (Nuwakot), and Panini-Durga Phant, have not been allocated any funds for the upcoming fiscal year year as the preliminary studies on these projects have already been completed.

The government has allocated budgets for 14 tunnel tunnel passages including two underpasses in the upcoming fiscal year which begins on July 16. Siddhababa, Dumkibas-Bardaghat (Nawalparasi), Hemja-Naya Pul (Kaski), Majhimtar-Shaktikhor (Chitwan), Babai-Chinchu (Surkhet), Dharan-Leuti, BP Nagar-Khutiya (Dipayal) Chhorepatan-Phedikhola, Kushe Patan (Jumla), and Tulsipur-Luham. Additionally, a budget has been allocated for the New Baneshwar Underpass project. 

However, since only Rs 810m have been allocated for these projects, experts say the funds won’t be sufficient even to conduct preliminary study. The BP Nagar-Khutiya tunnel passageway for example has been allocated a meager budget of Rs 400,000. The estimated cost for tunnel ways is more than Rs 3bn per kilometer, according to experts.

Other tunnel projects have been allocated budgets ranging from Rs 400,000 to Rs 2.5m. Experts say that these amounts are insufficient even for conducting preliminary studies.

The previous government had allocated Rs 1bn for the Tokha-Chahare tunnel to prepare a detailed project report and conduct an environmental assessment. However, the new government has not advanced the project.

Former Finance Minister Dr Prakash Sharan Mahat had pushed for the Tokha-Chahare project as it would significantly reduce distance to the Nepal-China border town of Rasuwagadhi with Kathmandu. 

Siddhababa tunnel breakthrough in three months

The Siddhababa tunnel on the Siddhartha Highway that links Pokhara with Nepal-India border in Bhairahawa is expected to achieve breakthrough in three months. 

The government has made an allocation of Rs 208.1m to the project for the upcoming fiscal year. It has been allocated Rs 651.8m in the current fiscal year. 

Chinese firm China State Construction Engineering Corporation was awarded the contract to  execute the project in March, 2022. The company began excavation in January this year. The total cost of the project is Rs 7.34bn. As per contract, the Chinese firm must complete the project within five years. 

The project includes digging a 1,136-meter tunnel, three emergency bypasses of 155 meters, 145 meters and 121 meters, respectively, and upgraded road on both ends of the tunnel.

According to project officials, the Chinese company has already dug 267 meters of the tunnel and is excavating about nine meters per day. 

The Nepal Stock Exchange (NEPSE) gained 47.04 points to close at 2,100. 43 points on Tuesday.

Similarly, the sensitive index surged by 8.94 points to close at 370. 71 points.

A total of 11,645,905-unit shares of 315 companies were traded for Rs 4. 57 billion.

Meanwhile, Himalayan Distillery Limited (HDL) was the top gainer today, with its price surging by 8. 54 percent. Likewise, Upakar Laghubitta Bittiya Sanstha Limited (ULBSL) was the top loser as its price fell by 6.46 percent.

At the end of the day, total market capitalization stood at Rs 3. 33 trillion.

The season of the proverbial ‘khaam’ (envelope) is back. The arrival of the wedding season means many of us will be dishing out a few of those. Granted, a few banknotes shoved in an envelope is practical. It’s also time-efficient and hassle free. But it can also come across as tactless and mundane, especially if someone close to you is getting hitched. We’ve rounded up some ideas that are a lot more thoughtful than cold, hard cash to help you deal with the awkwardness of giving money.

Consider a voucher instead of cash

Depending on your budget, you can buy a couple round trip tickets to Pokhara or Chitwan. Alternatively, a voucher for a spa day can also be a good idea, as are gift cards for maybe their favorite bookstore or clothing line. Tickets and vouchers are essentially cash but it will show the receiver that you put some thought and effort into it. Many stores these days offer gift cards for fixed amounts. All you have to do is buy one of these.

Make them something

If you are good at painting, knitting, or any other craft, consider making something for the newly-wed couple. If you are good at macrame, an evil-eye wall hanging could be a nice idea. You can also commission an artist to make a painting of the couple during their wedding day and gift it to them if you aren’t good with a paintbrush. Personalized gifts will bring a smile to their face long after their special day is over.

A digital magazine subscription

With more and more online portals going behind paywalls, it’s becoming increasingly difficult to access good content online. A newspaper or magazine subscription for a year or two could make an ideal gift for those who value information and knowledge. The New York Times subscription costs $10 and is value for money as you will have full access to many good articles and podcasts. A Netflix or Spotify account will be appreciated by those who love movies and music.

Ask them what they want

In the US and many other places, couples about to get married make an online wedding registry of the things they want. Guests can then pick from the list and give them something they would need in the course of their life together. We don’t have that system in Nepal but you could simply ask the couple what they would like. Depending on your relationship with them, they might just tell you, making the process of gifting easier and personal.

Donate in their name

The trend of making donations to charities or supporting orphanages in the name of the couple getting married is becoming increasingly popular. Sponsoring a dog at an animal shelter (to help them pay for their meals and upkeep) is a good idea. Most of the places will give you a certificate in the name you make the donation in and you can simply pass this on. This is one gift that keeps giving. The receiver can choose to continue with the donation later on. You will have got the ball rolling.

The price of gold has increased by Rs 100 per tola in the domestic market on Tuesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 142, 300 per tola today. It was traded at Rs 142, 200 per tola on Monday.

Similarly, tejabi gold is being traded at Rs 141, 600 per tola.

Meanwhile, the silver is being traded at Rs 1,805 per tola today.  

Prime Minister Pushpa Kamal Dahal is not going to resign immediately.

The office-bearers’ meeting of the CPN (Maoist Center) held in Baluwatar on Tuesday morning made a decision that the Prime Minister will not tender his resignation instead face a trust vote.

After the meeting, Maoist Center Secretary Devendra Paudel said that the Prime Minister will not put in his papers immediately, instead face a vote of confidence.

The meeting decided that the party will move ahead by holding discussions with Rastriya Swatantra Party, Nepali Congress and CPN-UML among others.

Earlier this morning, UML Chairman KP Sharma Oli met Prime Minister Dahal and urged him to pave the way by resigning from his post.

Oli said that the UML will withdraw the support extended to the government and recall the ministers if he did not step down.

The two big parties—Nepali Congress and CPN-UML—have agreed to form a new government under the leadership of UML Chairman Oli.

The Rastriya Swatantra Party (RSP) has decided not to participate in the new coalition.

A Secretariat meeting of the party held on Tuesday morning made the decision to this effect.

The party has decided that it would leave the government soon after the process of forming a new government moved forward.

Making public the decisions of the meeting, RSP Chief Whip Santosh Pariyar said that the party will leave the government soon after the process of forming another government is moved ahead.

He said that the RSP will not participate in the new alliance.

“A serious discussion was held about the reports of possible change in the government. The party will recall ministers soon after the process of forming a new government moves ahead and will quit the government,” he said.

Two big parties—Nepali Congress and CPN-UML—have agreed to form a new government under the leadership of UML Chairman KP Sharma Oli.

According to the agreement reached between the two parties, UML Chairman Oli will lead the government in the first phase and Congress President will lead the government after one-and-a-half years in the second phase.

UML will take the Finance Ministry while NC the Home Ministry.

It has been said that the UML will take nine ministries and NC 10.

As a new power equation is going to be formed, CPN-UML ministers are preparing to resign from their posts on Tuesday.

UML’s minister said that preparations are being made to resign today after an agreement was reached on Monday night to form a Nepali Congress-UML alliance.

UML ministers will resign and withdraw the support extended to the government if Prime Minister Pushpa Kamal Dahal did not pave the way by putting in his papers.

“An agreement has been reached between the two big parties of Parliament--UML and Congress-- on Monday night to form a new power equation. We ministers are preparing to resign en-masse as per the same,” he said.

UML has eight ministers in the government under the leadership of Secretary Raghubir Mahaseth.

Mahaseth is the Deputy Prime Minister and Minister for Physical Infrastructure, Padam Giri, Minister for Law, Justice and Parliamentary Affairs, Hari Upreti, Minister for Defense, Bhagwati Chaudhary, Minister for Women, Children and Senior Citizens, Rajendra Rai, Minister for Drinking Water, Damodar Bhandari, Minister for Industry and Commerce, Jwala Kumari Sah, Minister for Agriculture and Balram Adhikari, Minister for Land Management, Cooperatives and Poverty Alleviation.

With the agreement to form a new alliance between Nepali Congress and UML, it is certain that the Pushpa Kamal Dahal-led government will fall into minority.

According to a source, the UML has already informed President Ram Chandra Paudel that it has withdrawn support to the Dahal-led government and has moved ahead to form a new coalition.

The process of forming a new government would prolong if Prime Minister Dahal did not resign.

There is a provision that the Prime Minister should seek a vote of confidence within 30 days if any of the parties participating in the government withdraw their support.

The Nepali Congress said that it has decided to cooperate with the CPN-UML to address the issues of common people.

After an office bearers meeting held at Budhanilkantha on Tuesday morning, spokesperson Prakash Sharan Mahat informed that the party has decided to form an alliance with the UML for political stability, good governance and economic reform.

He said that an agreement has been signed on Monday night that a national consensus government will be formed under the headship of UML Chairman KP Sharma Oli and Congress President Sher Bahadur Deuba will lead the government after one-and-a-half years.

Spokesperson Mahat further said that an agreement has also been reached to make necessary amendments to the Constitution.

He went on to say that discussions are also being held to rope in other parties in the government.

Leader Mahat made it clear that the UML-NC alliance was the demand of time to take the country towards the path of stability.