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Prime Minister Pushpa Kamal Dahal has announced different programs aimed at revitalizing the economy. The programs encompass a range of actions, from aiding individuals struggling to repay loans taken from banks and financial institutions to revising bank rates in order to lower interest rates.

Dahal believes that these initiatives will instill hope among the masses by introducing reforms in the country, given that the economy is still facing pressure despite positive indicators in various sectors.

These key measures to bolster the economy were announced during a four-hour discussion about the current state of the economy and future strategies with ministers, secretaries, the governor of Nepal Rastra Bank, private sector leaders, members of parliament and economists, and others on Tuesday.

“When I assumed leadership of the government, the economy was facing serious crises. Over the last 10 months, the government has taken various initiatives which have turned economic indicators positive,” Dahal said. “However, the economy still faces challenges. Therefore, the government’s primary focus is on further enhancing the economy and fostering optimism among the people.”

The government has said that the central bank will facilitate the repayment of loans for individuals who used the funds for their intended purposes but are struggling due to an economic slowdown. Likewise, although interest rates are coming down, the government has directed the central bank to study whether the rates can be reduced further. The central bank has also been tasked with studying problems faced by individuals in repaying loans taken from microfinance institutions.

Moreover, the government has announced plans to form a dedicated agency to regulate cooperatives and create a fund to safeguard deposits in saving and credit cooperatives.

The government has also said that it is committed to enhancing the revenue structure to make it more conducive to investment and production in line with recommendations made by past studies and commissions.

Additionally, the government has said that it would expedite mega hydropower projects such as Budhgandaki, Karnali Chisapani, and Upper Arun. It has also pledged to implement recommendations made by a team of experts for the construction of Nijgadh International Airport in Bara.

Moreover, the government has expressed commitment to address challenges in the implementation of the decision to extend construction deadlines for various development projects made in the first week of June.

Furthermore, the government has said that it will initiate the process of settling outstanding dues with contractors and form a high-level commission to address overall governance issues.

Similarly, it has decided to make the the Industry and Commerce Promotion Dialogue Council, which serves as a forum for private sector and government dialogue, more active.

The gold is being traded at Rs 116, 500 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, tejabi gold is being traded at Rs 115, 950 per tola.

Similarly, the silver is being traded at Rs 1,455 per tola today.

The Nepal Stock Exchange (NEPSE) gained 20.67 points to close at 1,850.33 points on Wednesday.

Similarly, the sensitive index surged by 2.51 points to close at 354. 21 points.

A total of 4,213,285-unit shares of 294 companies were traded for Rs 1. 08 billion.

Meanwhile, Buddha Bhumi Nepal Hydropower Company Limited was the top gainer today, with its price surging by 10. 00 percent. Likewise, Sayapatri Hydropower Limited was the top loser as its price fell by 8.15 percent.

At the end of the day, total market capitalization stood at Rs 2. 85 trillion. 

The Asian Institute of Diplomacy and International Affairs (AIDIA) and the Institute for Development and Diplomacy (IDD) of ADA University of Azerbaijan have officially entered into a strategic partnership through the signing of a Memorandum of Understanding (MoU) on November 21, 2023.

This collaborative agreement marks a significant milestone in fostering cooperation and mutual development between the two institutions.

The MoU outlines a comprehensive framework for collaboration, covering a wide range of areas aimed at enhancing educational and diplomatic initiatives, reads a statement issued by the AIDIA.

ADA University was established under the Ministry of Foreign Affairs of Azerbaijan in 2006, with the goal of nurturing individuals who serve as adept problem solvers, fostering close collaboration, and ensuring effective communication within the global community. The IDD was established in 2022 to enhance and broaden the university's objectives, emphasizing intellectual development and strategic engagement on a global scale.

AIDIA is Kathmandu based independent, non-partisan, foreign policy think-tank that conducts research and analysis on domestic and international issues, and offers a platform for dialogue, debate and discussion.

The MoU was signed by Sunil KC, Founder of AIDIA, and Dr Fariz Ismailzade, Director at IDD, symbolizing a commitment to fostering international collaboration and promoting academic excellence.

This partnership reflects the shared vision of both institutions to contribute significantly to the fields of development and diplomacy.