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The government has collected Rs 3.15bn plus in royalty from different hydropower projects that are in operation.

The Nepal Electricity Authority (NEA) has been collecting the royalty amount on a regular basis as it keeps the royalty amount while paying the power developers for using their power. 

Likewise, the Electricity Development Department has asked some power developers to deposit the royalty amount as they were yet to clear their dues till the fiscal year 2022/23, Department’s Director General Chiranjivi Chataut said.

The projects failing to clear their dues would be charged by writing to the NEA. As per the provision, the royalty amount would be provided to the affected communities at the local level. 

The Department has collected Rs 1.15bn from license fees, Rs 8.7m from penalty and confiscation and Rs 4.2m from arrear. The Department collected Rs 4.31bn plus in revenue in the fiscal year 2022/23. 

Likewise, the Department has collected Rs 595.5m in royalty till the first six months of the current fiscal year while the amount from licensing is Rs 162.4m.

The Nepal Stock Exchange (NEPSE) plunged by -25. 63 points to close at 2,130.18 points on Sunday.

Similarly, the sensitive index dropped by -7. 41 points to close at 386. 20 points.

A total of 22,820,279-unit shares of 308 companies were traded for Rs 7. 67 billion.

Meanwhile, Ankhu Khola Jalvidhyut Company Ltd was the top gainer today with its price surging by 9. 97 percent. Likewise, CEDB Hydropower Development Company Limited was the top loser with its price dropped by -8. 27 percent.

At the end of the day, the total market capitalization stood at Rs 3. 34 trillion.

The price of gold has increased by Rs 400 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 118, 400 per tola today.  It was traded at Rs 118, 000 per tola on Friday.

Meanwhile, tejabi gold is being traded at Rs 117, 850 per tola. It was traded at Rs 117, 450 per tola.

The price of silver, however, has dropped by Rs 5 and is being traded at Rs 1,390 per tola today.

Deputy Director-General Angela Ellard on 17 January discussed the negotiating priorities for WTO members in the run-up to the 13th Ministerial Conference (MC13) in Abu Dhabi next month and areas where members are considering reform of the WTO at a seminar on the WTO organized by the Washington International Trade Association, World Trade Organization reported.

DDG Ellard observed that a key priority for MC13 is to build on the achievements of the previous June 2022 Ministerial Conference, MC12, by concluding the second wave of negotiations on fisheries subsidies and ensuring the entry into force of the Agreement on Fisheries Subsidies. She noted that in the month remaining before MC13, WTO members will be conducting intensive negotiations on provisions to curb subsidies contributing to overcapacity and overfishing. She added that 55 members have already deposited their instruments of acceptance for the Agreement on Fisheries Subsidies, which is half of the required number for entry into force, and that many more are underway. 

DDG Ellard said that other negotiating priorities include dispute settlement reform and extending the moratorium on the imposition of customs duties on electronic transmissions, which will expire if members do not renew it at MC13. In addition, members are considering whether to extend the TRIPS Decision on COVID-19 vaccines adopted at MC12 to COVID-19 diagnostics and therapeutics. She added that the negotiations on agriculture continue, with many members pointing to food security as an important priority.  However, the talks remain difficult as members have different views on issues such as public stockholding for food security purposes, domestic support and market access.

DDG Ellard explained that negotiations have different formats, depending on the subject matter and the level of maturity of the issues discussed. She underlined the role of regular General Council and committee meetings as well as group meetings and informal retreats in building trust among members. "The goal is to make the Geneva process as successful as possible and to have the ambassadors present final texts for ministers' blessing at MC13," she said.

With respect to WTO reform, she said that everyone agrees that the WTO needs reform, but members' views on what needs to be improved differ. She outlined three broad areas of reform: (i) negotiating new rules and revising the existing rules; (ii) reinvigorating the deliberative function of the organization; and (iii) improving the way the Secretariat assists members. She noted that many members are interested in reforming the regulation of subsidies, although their priorities differ. While some members concentrate on addressing state intervention in support of industrial sectors, some developing members seek policy space to promote industrialization, according to World Trade Organization.

With respect to the improvement of the deliberative function, DDG Ellard  explained that many members emphasize enhancing transparency and improving compliance with notification requirements. In addition, developing countries would like reform in this area to enhance effective and meaningful participation of small and resource-constrained delegations in all deliberations and decisions. 

Finally, DDG Ellard emphasized the efforts aimed at enhancing the WTO's deliberative function through improved working procedures, such as in the Council for Trade in Goods and its subsidiary bodies, as part of "reform by doing". She noted that 127 improvements have already been adopted by members in Geneva. She also highlighted the Secretariat's development of new digital tools and databases with a view to improving transparency and facilitating members' participation in different activities of the organization.