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The Airlines Operators Association of Nepal (AOAN) has reduced airfares following Nepal Oil Corporation (NOC)'s decision to slash the aviation fuel price. AOAN on Monday said that the reduced airfares will come into effect from January 11. According to AOAN, the airfare on the Kathmandu-Dhangadhi route has come down by Rs 885 while the airfare on the Kathmandu-Simara sector has been reduced by Rs 180. Likewise, the airfare for mountain flights has come down by Rs 685. As the government controls the price of a plane ticket and airlines are not allowed to increase the airfare, domestic airlines generally increase or decrease the fuel surcharge in response to the fluctuation in the fuel price hike. The fuel surcharge is revised if fuel prices fluctuate by at least Rs 4 per liter. According to domestic airline operators, fuel prices account for up to 40 percent of the total cost of operations in Nepal. NOC slashed prices of petrol, diesel, kerosene, and aviation fuel (for domestic & international airliners) on Sunday. The meeting of the oil monopoly's board decided to reduce prices of petrol, diesel, and kerosene by Rs 3 per liter each. Similarly, the price of aviation fuel for domestic airlines has been slashed by Rs 20 per liter and for international airlines by Rs 30 per liter. With the new pricing, a liter of petrol will cost Rs 175, and diesel and kerosene will cost Rs 172. As per the revised price, the price of aviation fuel for domestic airlines is now Rs 170 per liter and for international airlines is USD 1.42 per liter. The price of LPG gas has remained the same, which is Rs 1,800 per cylinder. The NOC revised the prices following instruction from Prime Minister Pushpa Kamal Dahal who on last Thursday had instructed the secretary at the Ministry of Industry, Commerce, and Supplies to reduce the price of petroleum products. The secretary at the Ministry of Industry, Commerce, and Supplies chairs the NOC board.    

The price of gold has dropped by Rs 400 per tola in the domestic market on Tuesday. According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow bullion is being traded at Rs 103, 500 per tola today. It was traded at Rs 103, 900 per tola on Monday. Meanwhile, tejabi gold is being traded at Rs 103, 000 per tola today. Similarly, the price of silver has dropped by Rs 15 and is being traded at Rs 1, 365 per tola.

The Nepal Stock Exchange (NEPSE) gained 47. 15 points to close at 2,211. 76 points on Monday. Similarly, the sensitive index surged by 8. 68 point to close at 419. 91 points A total of 14,676,206 unit shares of 257 companies were traded for Rs 5. 31 billion. Meanwhile, Barun Hydropower Co. Ltd, Khanikhola Hydropower Co. Ltd, Chhyangdi Hydropower Ltd, Joshi Hydropower Development Company Ltd and Himalaya Urja Bikas Company Ltd were the top gainers today, with their price surging by 10. 00 percent. Likewise, Swabhimaan Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 3. 57 percent. At the end of the day, total market capitalization stood at Rs 3. 19 trillion.