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The price of gold has increased by Rs 200 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 190, 600 per tola today. It was traded at Rs 103, 500 per tola on Sunday. Meanwhile, tejabi gold is being traded at Rs 190, 400 per tola.

Similarly, the price of silver has increased by Rs 45 and is being traded at Rs 2, 010 per tola today.

It has been over a week since the World Exposition opened in Osaka, where an estimated 28m visitors are expected over the six-month event. Among the 158 participating countries—including Nepal—nearly all have set up their pavilions. However, Nepal failed to open its pavilion on the inauguration day (April 13) due to construction delays, exposing governance shortcomings.

The delay stems from a dispute between the Nepali government and the contractor. Two years ago, the government selected a private company to construct the pavilion, yet poor coordination and unresolved issues prevented its timely completion.

Jitendra Basnet, spokesperson for the Ministry of Industry, Commerce and Supplies, cited cost overruns, budget shortages and logistical lapses as key reasons for the delay but declined to provide further details. Other officials also refused to comment.

A senior official involved in the project, speaking anonymously, revealed that the conflict arose over payment procedures. Nepal Rastra Bank required contractors to pay a 30 percent tax before transferring funds from Japan, which the contractor refused. Visa complications further stalled progress. “Despite two years of preparation, we couldn’t complete the pavilion—it’s embarrassing,” the official admitted.

Government authorities are now scrambling to resolve the dispute and open the pavilion soon. Durga B Subedi, Nepal’s Ambassador to Japan, said he would assess the situation in Osaka next week before commenting. Meanwhile, it remains unclear whether Nepal will have high-level representation at the expo.

The Nepal Pavilion was intended to showcase the country’s cultural heritage, natural beauty and other attractions. With 119,000 visitors on opening day—and other nations’ pavilions drawing large crowds—the delay could hurt Nepal’s tourism and economic prospects at the event.

Held at Yumeshima (“Dream Island”), a reclaimed industrial site in Osaka Bay, the expo—with the theme “Designing Future Society for Our Lives”—features futuristic exhibits from over 160 countries and organizations across 80 uniquely designed pavilions. This is Osaka’s second expo after the hugely successful 1970 , which set a record with 64m visitors until Shanghai’s 2010 event.

The Nepal Stock Exchange (NEPSE) plunged by 32. 44 points to close at 2,655.88 points on Wednesday.

Similarly, the sensitive index dropped by 5. 41 points to close at 446. 48 points.

A total of 18,477,703-unit shares of 308 companies were traded for Rs 7. 57 billion.

Meanwhile, Nepal Micro Insurance Company Limited (NMIC) and Crest Micro Life Insurance Limited (CREST) were the top gainers today with their price surging by 9. 99 percent. Likewise, Corporate Development Bank Limited (CORBL) was the top loser with its price dropped by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 4. 41 trillion.

Nepal imported 7,967 units of electric cars, jeeps and vans worth Rs 18.62bn over the first nine months of fiscal year 2024/25. This surge, generating Rs 11.47bn in government revenue, underscores EVs’ rising popularity in the country, driven by favorable policies, environmental goals and economic incentives.

Foreign trade data for the first nine months of 2024/25, unveiled recently by the Department of Customs (DoC) shows, over 50 percent of imports, or 4,414 units, fell in the 51-100 kW motor capacity range which is ideal for Nepal’s urban and semi-rural roads. Smaller EVs (up to 50 kW) accounted for 2,783 units, while 742 units were in the 101-200 kW capacity range. Likewise, 17 units were in 201-300 kW motor capacity range and tow had capacity in excess of 300 kW.

China dominated Nepal’s EV market, supplying 74.08 percent of total imports of the country in the review period. EVs worth of Rs 14.49bn were imported form the northern neighbor in the review period, with brands like BYD and Dongfeng leading due to competitive pricing and advanced features. India follows with 2,023 units, or a market share of 25.39 percent, bolstered by Tata’s strong presence, as seen with models like the Punch EV. Imports from Germany (31 units), the US (5 units), South Korea (3 units) and Indonesia (3 units) were minimal, underscoring the China-India duopoly in the Nepali EV market.

In 2023/24, Nepal imported a total of 11,701 electric vehicles (EVs) - a growth of a whopping 188.91 percent compared to 2022/23 when 4,050 units of electric cars, jeeps, and vans entered the country. More than a third of total EV imports in 2023/24 came from China. A total of 8,938 EVs units came from China and remaining 2,763 from other countries. The total import value of these EVs was Rs 29.48bn.

The EV boom in Nepal aligns with Nepal’s Nationally Determined Contributions (NDC) which targets to increase the share of EVs in private passenger vehicles to 25 percent by 2025 and 90 percent by 2030. Lower import duties, which are 15-80 percent for EVs and over 240 percent for those powered by fossil fuel, and the availability of affordable cars loaded with advanced technologies have fueled demand for EV in Nepal. 

The growing EV adoption is gradually reducing reliance on costly oil imports. Data shows Nepal saved Rs 11.07bn in 2023/24 due to a decline in the import of petroleum products.