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The price of gold has dropped by Rs 500 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 150, 200 per tola today. It was traded at Rs 150, 700 per tola on Friday.

Similarly, the price of silver has dropped by Rs 25 and is being traded at Rs 1,790 per tola today.

A commitment has been made to build a Himalayan city in Tinje, located in the Dolpo Buddha Rural Municipality of Upper Dolpa. In the fiscal year 2022/23 budget, then-Finance Minister Janardan Sharma pledged to construct a Himalayan city in Hilsa, Limi Valley in Humla, and Tinje in Dolpa.

This was not the first time such a promise was made. In 2019, during the silver jubilee celebration of Crystal Mountain Boarding School in Dho, then-Deputy Prime Minister and Defense Minister Ishwor Pokharel, attending as the chief guest, also committed to developing Tinje into a well-equipped and beautiful Himalayan city. On multiple observation visits to Upper Dolpa, district and central leaders made similar assurances, according to residents of Dolpo Buddha Rural Municipality.

At the time, Janardan Sharma, who accompanied Minister Pokharel to Upper Dolpa, stated that he would allocate the necessary budget to build a Himalayan city in Tinje near the Nepal-China border. However, the enthusiastic promises made during such events remain unfulfilled. Pema Dharke Gurung, Vice-chairperson of Dolpo Buddha Rural Municipality, noted that numerous leaders had pledged to transform Tinje into a historical and beautiful Himalayan city.

For this vision to materialize, the completion of the Bheri Corridor is essential. “Upper-level leaders often promise to develop settlements in Dhoma and build a Himalayan city in Tinje, but these commitments are not implemented once they are in government,” Gurung said. “The geography here is conducive to such development, offering immense potential. However, the first step is connecting the road from Dunai to Tinje.”

Gurung emphasized that connecting the road from Lasikap to Shisaul would be a significant step towards building the Himalayan city. He urged the government to prioritize opening the road track, constructing bridges, and developing other essential infrastructure. “Once the road is in place, transporting construction materials will become much easier,” he added.

Additionally, Gurung highlighted the need to extend and upgrade the road from Mustang to Chharka in Upper Dolpa to Dolpo Buddha Rural Municipality, ensuring its reliability and building necessary bridges along the way. “If Tinje becomes a Himalayan city, it will be the first border city in Karnali Province. The people of Upper Dolpa will benefit from improved services and facilities. I hope the government will soon act on this vision by prioritizing road construction,” he concluded.

The Nepal Stock Exchange (NEPSE) gained 4.19 points to close at 2,630.71 points on Thursday.

Similarly, the sensitive index surged by 2.30 points to close at 451. 45 points.

A total of 20,978,979-unit shares of 310 companies were traded for Rs 5. 32 billion.

Meanwhile, Aatmanirbhar Laghubitta Bittiya Sanstha Limited (ANLB) and Support Microfinance Bittiya Sanstha Ltd. (SMB) were the top gainers today, with their price surging by 10. 00 percent. Likewise, Corporate Development Bank Limited (CORBL), Narayani Development Bank Limited (NABBC) and Sindhu Bikash Bank Ltd (SINDU) were the top losers as their price fell by 10.00 percent.

At the end of the day, total market capitalization stood at Rs 4. 36 trillion.

The 456 MW Upper Tamakoshi Hydropower Station, Nepal’s largest hydropower facility, partially resumed power generation after 88 days on Tuesday at 7:40 pm following repairs to damage caused by landslides on Sept 27 and 28. 

Currently, the station generates 120 MW of electricity, fully utilizing the available water flow in the Tamakoshi River. Operations had been suspended since 7 PM on Sept 27 due to heavy rainfall that significantly increased the river's flow. The subsequent landslides on Sept 28 caused extensive damage to the control room building, the sand-sluice pond (desander), and the underground canal (culvert) that channels water from the dam to the desander. Additionally, large rocks blocked the approximately 300-meter access road between the Gongar power plant and the Lamabagar dam site, requiring explosives for clearance. Rainfall also damaged Tower 46 of the Gongar-Khimti 220 kV transmission line, which transmits electricity from the station.

The damaged desander has been partially repaired, enabling the hydropower station to operate using river flow for the time being. Full capacity generation, allowing four hours of operation during peak demand periods (morning and evening), will be possible once ongoing desander repairs are completed. The maintenance is scheduled to be finalized by December, ensuring peak-hour operations.

On Dec 3, Kulman Ghising, Executive Director of the Nepal Electricity Authority (NEA) and Chairman of Upper Tamakoshi Hydropower, visited the site alongside the company’s board of directors and CEO to oversee the progress. The team set Dec 25 as the deadline to complete repairs and fully restart electricity production. Ghising later announced that repairs had been completed ahead of schedule, enabling electricity generation to resume partially. 

“The descender was filled with rocks and debris. Additionally, two company employees and two soldiers lost their lives in a landslide, creating fear among the remaining workforce. With no access road, no power supply, and challenging circumstances, our team worked tirelessly to restore operations. Through collective efforts, we managed to resume partial electricity generation,” said Ghising.

Ghising also noted that restarting the country’s largest power plant eases electricity supply challenges and reduces dependence on imports from India during peak hours. 

Mohan Prasad Gautam, CEO of Upper Tamakoshi Hydropower, highlighted that the repair efforts followed a detailed action plan informed by expert recommendations and regular monitoring. This collaborative approach allowed electricity generation to resume earlier than expected.

The repair costs will be covered by the company’s insurance. An initial claim of Rs 1.78bn has been filed with National Insurance Company, which is jointly assessing the damage with the hydropower company. The insurance will also compensate for two months of lost revenue from electricity sales, as outlined in the agreement.