Gold price increases by Rs 800 per tola on Sunday
The price of gold has increased by Rs 800 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 110, 000 per tola today. The gold was traded at Rs 109, 200 per tola on Friday. Meanwhile, tejabi gold is being traded at Rs 109, 500 per tola. It was traded at Rs 108, 700 per tola. Similarly, the silver is being traded at Rs 1,385 per tola today.
Nepal's trade deficit with Bhutan hits over Rs 126 billion in five years
Nepal is running over Rs 126 billion worth of trade deficit with Bhutan in the past five years. Exports and imports with Bhutan and Bangladesh are taking place through Kakadbhitta transit in the eastern border of the country. According to Purna Prasad Lamsal, the information officer for the Mechi Customs Office, Kakadbhitta, Nepal imported goods worth over Rs 177 billion from Bhutan through the transit in the past five years beginning the fiscal year, 2018/19 until 14 May, 2023 of the current FY, 2022/23. The exports to Bhutan during the same period amounted to more than Rs 50.7 billion. Trade deficit in the FY, 2018/19 amounted to over Rs 1.4 billion. Similarly, the FY, 2019/20 saw trade deficit worth more than Rs 993 million, over Rs 614 million worth in the FY 2020/21, more than Rs 908 million in the FY 2021/22, and over Rs 794 worth until 14 May, 2023 of the FY 2022/23. Nepal has been importing cement raw materials including gypsum from Bhutan, and exporting iron and iron-made products to the country. Nepal imported over Rs 1.3 billion worth of gypsum from Bhutan in 10 months of the current FY, and exported iron and iron-made products worth more than Rs 3.7 billion.
Gold price drops by Rs 500 per tola on Friday
The price of gold has dropped by Rs 500 per tola in the domestic market on Friday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 109, 200 per tola today. The yellow metal was traded at Rs 109, 700 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 108, 700 per tola. It was traded at Rs 109, 200. Similarly, the silver is being traded at Rs 1,370 per tola today
Tourism entrepreneurs in Pokhara elated from scheduled announcement of chartered flight
With the announcement to begin the chartered flights from Pokhara to different cities of China from June 23 has made tourism entrepreneurs excited in the city. Addressing the 24th national conference and annual general meeting of Nepal Association of Tour and Travel Agents (NATTA) on Thursday, Minister for Culture, Tourism and Civil Aviation Sudan Kiranti announced to begin the chartered flights to different cities of China from June. The announcement is expected to materialize the dream of Pokhara folks to start international flights from Pokhara. The Pokhara Regional International Airport was inaugurated on January 1 this year but no international flight has taken place since then. Chairman of Pokhara Tourism Council Pom Narayan Shrestha said, "We are excited from the announcement to commence chartered flights. This will mark the beginning of the international flights. This should be implemented at any cost." Likewise, chairman of NATTA Gandaki Province Hari Ram Adhikari said that this will be a good beginning for the tourism industry and will serve as a milestone for the entire country's tourism sector's development. It is said that around 80 percent of the total Chinese tourists visiting Nepal arrive in Pokhara city.