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The government has started preparation for the budget for the upcoming fiscal year 2026/27 that begins in mid-July.

The Revenue Advisory Committee, formed by the Ministry of Finance to collect recommendations on revenue policy, tax structure, customs rates, revenue administration and broader macroeconomic reforms, on Monday  called on stakeholders to provide comprehensive suggestions on tax rates and revenue policies for the next budget.

According to a finance ministry, the committee will collect suggestions from different stakeholders, compile them, analyze them and submit its recommendation to the ministry by mid-May.

The government is constitutionally bound to present a budget for the next fiscal year on May 28.

The committee, chaired by Revenue Secretary Bhupal Baral, has sought suggestions from government agencies, private-sector umbrella organizations, academia and the general public. Stakeholders can submit their recommendations through the Ministry of Finance, the Ministry of Industry, Commerce and Supplies, the Inland Revenue Department, the Department of Customs, the Revenue Investigation Department, and the Department of Money Laundering Investigation, and their subsidiary offices, among others.

The committee has been mandated to recommend policy and legal reforms related to income tax, value-added tax (VAT), excise duty, the education service fee, digital service tax, taxes on e-commerce, and other internal taxes governed by the Finance Act. It has also been tasked with reviewing tax rates, simplifying procedures, broadening the tax base, improving the overall tax system, and proposing reforms in revenue administration and organizational structure.

Beyond internal taxation, the committee’s scope includes industrial promotion and protection, import and export policy, trade in services, investment promotion, supply management, and tax and non-tax incentives. It will also review customs rates and measures to protect domestic production, improve valuation systems, facilitate trade, strengthen border management, and reform customs administration.

Controlling revenue leakage and curbing smuggling are the other key focus areas of the committee. The committee will study trends in illicit trade, foreign exchange regulation, financial crimes, and asset laundering and recommend legal and institutional reforms where necessary. Revenue and policy reforms in agriculture, energy, tourism, civil aviation, and natural resource management have also been incorporated into its assessment.

The panel will also study issues in banking and financial institutions, insurance, remittance flows, capital markets, cooperatives and real estate transactions, particularly in relation to revenue mobilization and regulatory gaps. It has been authorized to identify new non-tax revenue sources, review and rationalize rates, address tax duplication among federal, provincial and local governments, and suggest improvements in intergovernmental revenue management and revenue sharing.

To make its sectoral analysis more effective, the committee has formed nine thematic subcommittees—Internal Revenue; Revenue Leakage and Investigation; Customs; Industry, Commerce, Investment and Export Promotion; Agriculture, Energy and Tourism; Bank, Financial Institutions, Insurance Cooperative and Capital Market, Non-Tax and Inter-Government Revenue Management; Overall Economic; and Asset Laundering Prevention and Investigation. 

Members of the committee include an Executive Director from Nepal Rastra Bank, a joint secretary from the Ministry of Industry, Commerce and Supplies, and two experts—an economist and a tax specialist—nominated by the Finance Ministry. 

Similarly, academia is represented by the chief or a designated senior professor from the Central Department of Economics at Tribhuvan University, while private-sector participation includes the presidents or designated senior officials of the Federation of Nepalese Chambers of Commerce and Industry, the Nepal Economic Association, the Confederation of Nepalese Industries, the Nepal Chamber of Commerce, the Federation of Nepalese Industries and Commerce, and the Federation of Nepal Cottage and Small Industries. A joint secretary from the ministry’s Revenue Management Division is the member secretary of the committee

The price of gold has dropped by Rs 1, 1000 per tola in the domestic market on Wednesday. 

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 317, 600 per tola today.  It was traded at Rs 328, 600 per tola on Tuesday. 

Similarly, the price of silver has dropped by Rs 275 and is being traded at Rs 5, 540 per tola.

The Nepal Stock Exchange (NEPSE) surged by 38. 52 points to close at 2, 712. 49 points on Tuesday. 

Similarly, the sensitive index dropped by 6. 25 points to close at 465. 99 points.

A total of 15,184,607-unit shares of 329 companies were traded for Rs 1. 55 billion.

Meanwhile, Salapa Bikas Bank Limited (SABBL) was the top gainer today with its price surging by 9. 99 percent.

Shuvam Power Limited (SPL)was the top loser as its price fell by 2. 53 points. 

At the end of the day, the total market capitalization stood at Rs 4. 56 trillion.

Dust, mud and frequent traffic congestion have made daily travel along the Suryabinayak–Sanga road section increasingly difficult for commuters. Rohit Shrestha, 26 was travelling with his grandmother in a scooter when the tire slipped and they fell in the muddy road at Sanga. He said that the road has been in a very poor state for some time, but he hopes to see it being constructed soon. In the same way, local shopkeepers say dust has affected business and have caused health issues too due to dust, while commuters complain about traffic jams during peak hours.

Ranjana Siwakoti, a regular public bus commuter, says the ongoing road construction has made daily travel exhausting. She said it now takes around 15 to 20 minutes to reach Suryabinayak from Jagati—a short stretch that previously required far less time. According to her, traffic congestion, dusty conditions and uneven road surfaces have made the journey increasingly difficult for passengers.

These commuting challenges are largely due to the ongoing expansion of the 16-kilometer Suryabinayak–Dhulikhel section of the Araniko Highway, which began in January 2023. The project aims to widen the road into six lanes and has been divided into two sections—Suryabinayak–Sanga and Sanga–Dhulikhel. Progress in the Sanga–Dhulikhel stretch has been faster compared to the Suryabinayak–Sanga section.

Engineers say delays in the Suryabinayak–Sanga section were mainly due to house demolitions, relocation of utilities, intersection management and the dismantling of structures built against road setback rules.

Officials explained that a provision requiring space to be left while constructing houses was introduced in 1975 during the construction of the Araniko Highway. Houses built without following the protocol had to be removed, and since many were on private property, coordination with owners and authorities took additional time. Some structures still remain, requiring further coordination at different government levels. Authorities, however, say the project can meet its deadline if work continues at the current pace and resources are mobilized smoothly.

Currently, in the Suryabinayak–Sanga section, one lane is being layered with Cement Treated Base, which will be followed by a crack relief layer, Dense Bituminous Macadam and finally asphalt. According to Pradeep Tamang, engineer at the Department of Roads, work on the left lane has also been started from Suryabinayak. He added that currently, the project employs 110 human resources.

Tamang said there had been some budget-related issues in the past, but authorities are now providing additional funds. Rs 60m had been allocated for the current fiscal year, which was considered insufficient. The project has now requested an additional Rs 4bn to continue the work smoothly. He expressed hope that similar financial support will continue in the coming days to ensure steady progress of the project. He also acknowledged that local residents have faced several difficulties due to the construction work and said efforts are being made to complete the project smoothly and at a faster pace with the support of local authorities. He added that preparations are underway for the rainy season, noting that there are only three to four effective working months left for fiscal year 2025/26, and planning is being done accordingly.

According to Anju Pariyar, information officer at the Department of Roads, the Suryabinayak–Sanga section of the project was originally contracted on 8 March 2023, with a deadline of 7 March 2026, which was later extended to 13 March 2027 to accommodate delays. Similarly, the Sanga–Dhulikhel section, initially scheduled to be completed by 12 Dec 2025, was extended to Dec 2026 to allow for ongoing construction challenges.

Tamang said the team is prioritizing measures to reduce dust and mud, especially during the monsoon. Roads are being blacktopped as quickly as possible, and in sections where black topping cannot be completed on time, gravel will be laid to minimize dust and mud without damaging the existing pavement.

Pariyar said that bridges along the route will also be upgraded. “Three existing bridges within the 8-kilometer stretch—at Jagati, Mahadev Khola and Punya Mata Khola—will be redeveloped as part of the expansion,” she said. The work has been awarded under a separate contract to the Hindu Focus–Ramjanaki JV, following a design-and-build modality. Surveying and preparatory work are currently underway.

The 15.8-kilometer road expansion is being carried out under two separate contracts. Of the total stretch, the Suryabinayak–Sanga section has recorded partial progress, while the Sanga–Dhulikhel segment has achieved relatively higher physical progress. Lama Construction Company has been awarded the contract for the Sanga–Dhulikhel section of the road expansion project. Meanwhile, the Suryabinayak–Sanga section has been contracted to the Ashish–Kumar Shrestha–Bandan Bhagawati JV.

The project involves widening the 16-kilometer Suryabinayak–Dhulikhel section of the Araniko Highway into a six-lane road. The 7.5 kilometer Suryabinayak–Sanga stretch was awarded at a contract cost of Rs 3.8bn, while the 8.5 kilometre Sanga–Dhulikhel section was contracted for Rs 4.5bn. Despite financial constraints that caused delays, key infrastructure works such as retaining walls, drainage systems and culverts have already been completed.

Once the highway expansion is completed, the travel time from Kathmandu to Dhulikhel is expected to be reduced to approximately 30 minutes in total, significantly improving connectivity and easing traffic flow. Construction activities are currently ongoing in both sections. Meanwhile, 95 percent of retaining wall and drain construction has been completed. About two kilometres of the Sanga–Dhulikhel section has already been paved.

Overall, the Suryabinayak–Dhulikhel road expansion project has achieved around 45 percent physical development, with the Sanga–Dhulikhel section progressing faster than the Suryabinayak–Sanga stretch. Authorities say that, if work continues at the current pace and resources are mobilized effectively, the project can meet its target completion by deadline. If completed on time, the six-lane highway is expected to significantly ease traffic congestion, reduce travel time and improve safety for thousands of daily commuters.