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The price of gold has increased by Rs 1, 600 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 140, 900 per tola today. It was traded at Rs 139, 300 per tola on Friday.

Similarly, tejabi gold is being traded at Rs 140, 200 per tola. It was traded at Rs 138, 650 per tola.

Meanwhile, the price of silver has increased by Rs 110 and is being traded at Rs 1,910 per tola today.

The Nepal Rastra Bank (NRB) has, through the third quarter review of the monetary policy of the current fiscal year 2023/24, reduced the risk weightage of vehicle loans.

The risk weightage on hire purchase loans provided by banks and financial institutions has been reduced to 100 percent from the existing 125 percent.

Similarly, a provision has been brought allowing for the extension of loans for home purchases based on the Debt Service to Gross Income Ratio, from the existing 50 percent to 70 percent, based on the presentation of appropriate evidence.

In the review of the monetary policy, the Central Bank has introduced a provision where banks and financial institutions can sell up to 20 percent of their primary capital in a single fiscal year from investments made in the mid-category.

Likewise, the loan loss requirement provision for loans classified as 'good loans' from banks and financial institutions has been maintained at 1.20 percent from the existing 1.25 percent.

According to the NRB, the existing provision related to import and sale of silver would be reviewed. The flexibility outlined in the annual monetary policy has been continued in the third quarterly review, added the NRB.

"Based on the current internal and external economic conditions and outlook, the policy rate of 5.5 percent, the deposit collection rate under the interest rate corridor of 3.0 percent and the bank rate of 7.0 percent has remained unchanged," reads the third quarter review.

The provision of permanent deposit facilities would be reviewed as necessary to ensure the effectiveness of interest rate corridor as well as necessary facilitation would be provided for the use of additional instruments to further strengthen the capital base of banks and financial institutions.

A comprehensive guide for exporting Pashmina has been launched to help small-scale businesses in Nepal export Himalayan Chyangra Pashmina to major international markets. 

The ‘Trade Facilitation Guide to Export Pashmina from Nepal’ was unveiled by Myriam Ferran, deputy director General of the European Commission’s Directorate-General for International Partnerships, and Veronique Lorenzo, the European Union Ambassador to Nepal. Also present were Baburam Adhikari, joint secretary at the Ministry of Industry, Commerce and Supplies, and Dhan Prasad Lamichhane, president of the Nepal Pashmina Industries Association, at a function held at the Nepal Pashmina Fiber Processing Facility in Lalitpur.

Adhikari, Ferran, and Lorenzo also inaugurated the Fiber Processing Facility, established with technical support from the EU-Nepal Trade and Investment Program. This plant processes fiber from Chyangra farmers and supplies it to Pashmina producers.

The guide, developed with EU technical support and implemented by the International Trade Center, aims to strengthen the Pashmina value chain. It targets key markets such as Japan, the European Union, the US, and the UK, detailing processes for firm registration, licensing, customs, shipment, and logistics. It also covers import requirements, tariffs, quality standards, shipping costs, timeframes, and essential documents.

This guide addresses the knowledge gap in international markets and trade-related information among Nepal’s small and medium-sized enterprises (SMEs). It is expected to help entrepreneurs navigate export formalities and quality requirements, enhancing their global competitiveness.

Nepal’s Himalayan Chyangra Pashmina is renowned internationally for its unique quality and cultural significance. The ‘Nepal Trade Integration Strategy 2023’ and the ‘Pashmina Sector Export National Strategy 2022-2026’ have identified it as a priority export, aiming to increase exports to $75m by 2026.

Adhikari highlighted the significance of Pashmina as a high-priority exportable product, stating that the guide offers comprehensive information for Nepali Pashmina exports.

“The guide launched today is poised to become a useful source of information about the process for Nepali Pashmina exports, offering comprehensive information about our destination markets,” he said.

Ferran reaffirmed the EU’s commitment to enhancing Nepal’s prosperity through trade and investment, describing the guide as a tool to support the Pashmina value chain.

“As a longstanding partner in Nepal’s development journey, the European Union reaffirms its unwavering dedication to bolstering Nepal’s prosperity through enhanced trade and investment avenues. This comprehensive guide serves as an instrument to support the Pashmina value chain to harness the immense potential of Nepal’s Chyangra Pashmian in the international market,” she said.

Ashis Shah, director of the Division of Country Program at the International Trade Center, emphasized the guide's importance for SMEs in understanding the export process and meeting quality standards. 

“We are pleased to contribute to the development of this guide, recognizing its significance as an essential resource, particularly beneficial for Small and Medium Enterprises, in deepening their understanding of the export process and the quality standards required by destination countries”.

Lamichhane expressed gratitude to the EU-Nepal Trade and Investment Program and the Nepal government for producing this essential resource for Pashmina entrepreneurs. He said the initiative will boost exports in key international markets.

The price of gold has dropped by Rs 700 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 139, 300 per tola today. It was traded at Rs 140, 000 per tola on Thursday.

Similarly, tejabi gold is being traded at Rs 138, 650 per tola. It was traded at Rs 139, 300 per tola.

Meanwhile, the silver is being traded at Rs 1, 800 per tola today.