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The price of gold has increased by Rs 200 per tola in the domestic market on Monday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 110, 400 per tola today. The gold was traded at Rs 110, 200 per tola on Sunday. Meanwhile, tejabi gold is being traded at Rs 109, 850 per tola. It was traded at Rs 109, 650 per tola. Similarly, the silve is being traded at Rs 1,365 per tola today.

While the country’s imports in Jestha (mid-May to mid-June) hit an 11-month high, the overall imports as well as customs revenue in the first 11 months of the current fiscal year have remained dismal. Nepal imported goods worth Rs 145.65bn in Jestha, the highest on a month-to-month basis, in the current fiscal year. However, there has not been much improvement in revenue collection from the customs duty. As the country’s overall imports took a beating in this fiscal, the revenue collection of the Department of Customs (DoC) has remained below par. The department’s revenue collection has dipped by 23 percent in the first 11 months of the current fiscal year. The Customs Department and Inland Revenue Department are the two major revenue collectors of the federal government. However, both agencies have been continuously collecting revenue below the targets this fiscal. The DoC has collected Rs 344.03bn in revenue till mid-June which is a decline of Rs 102.76bn compared to the same period of the last fiscal. The department had collected Rs 446.79bn in revenue during the first 11 months of the last fiscal year. With the country going through a deeper economic downturn, the demand for goods and services in the market has dwindled as consumers continue to bear the brunt of the slowdown. The imports of high-duty goods such as vehicles have decreased significantly which has affected the revenue of the government. Due to the lack of demand in the market and the low availability of auto loans from banks, automobile dealers are yet to get around 3,000 four-wheelers cleared from various customs yards across the country. The vehicles have been parked at the yards for months, according to the DoC official. The country’s overall imports in this fiscal have dipped by 16 percent. Nepal has imported goods worth Rs 1480.98bn in the first 11 months of this fiscal compared to Rs 1763.22bn during the same period of the last fiscal. The federal government relies on customs revenue heavily. Of the total revenue, the customs revenue accounts for almost 45 percent.  

The Nepal Stock Exchange (NEPSE) gained 62.21 points to close at 2,117.73 points on Sunday. Similarly, the sensitive index surged by 9.64 points to close at 395. 45 points. A total of 14,751,247-unit shares of 275 companies were traded for Rs 6. 49 billion. Meanwhile, Life Insurance Corporation (Nepal) Limited, Himalayan Life Insurance Limited, NMB 50 and Samling Power Company Limited were the top gainers today, with their price surging by 10. 00 percent. Similarly, Shuvam Power Limited was the top loser as its price fell by 6.81 percent. At the end of the day, total market capitalization stood at Rs 3. 10 trillion.

The National Planning Commission (NPC) has advanced the preparation for the 16th five-year periodic plan. With the 15th plan ending in the next fiscal year 2023/24, the NPC, the government’s main body for periodic development planning, has initiated discussions with the concerned stakeholders. NPC held an interaction with its former vice-chairmen, former members, and economists on Wednesday. The body discussed with the ministries related to labor and employment, industry and trade, tourism and civil aviation, and agriculture on Thursday which was participated by incumbent secretaries, former secretaries, and experts of the ministries. NPC has planned to hold discussions on infrastructure and energy sectors on Friday. NPC Vice Chair Min Bahadur Shrestha said discussions for the 16th plan have been initiated with the national aspiration of achieving good governance, prosperity, and social justice through structural transformation. The concept paper of the 16th plan will be ready by the third week of July incorporating the suggestions of the experts. NPC is preparing to finalize and publish the 16th plan by February 2024 in order to take into implementation from mid-July 2024. The 16th plan which will be implemented from FY 2024/25 to 2029/30 The experts participating in Thursday's discussion stressed that the 16th plan should be a national plan rather than a federal plan. According to them, the new five-year periodic plan should be drafted in such a way that it can guide the plans of provinces and local-level governments. Economists and experts have emphasized that the role of NPC should be strengthened. They have also suggested that the new plan should be made keeping in mind the National Census of 2021, and it (the new plan) should take the policy to increase private sector investments. During Wednesday’s discussion, former finance minister Yubaraj Khatiwada said that ambitious targets for economic growth should not be set for the next periodic plan. Stating that the economic growth target of 7-7.5 percent should be taken in the current situation, Khatiwada said, “If the target of eight percent is to be set, then full emphasis should be placed on exports-oriented industrial growth.” While former NPC Vice Chair Prithvi Raj Legal suggested being more realistic while setting the target of economic growth, another former Vice Chair Dinesh Chandra Devkota opinionated that the plan should be formulated prioritizing the use of technology and preventing the misuse of grant money. According to NPC Spokesperson Suman Dahal, after the concept paper is prepared, the commission plans to discuss and interact at the provincial level as well.