Women are a huge resource in global economy: CNI President Agrawal
Confederation of Nepalese Industries (CNI) President Rajesh Kumar Agrawal said that women are a huge resource in the global economy.
Speaking at the Women Leadership Summit held in Kathmandu, Chairman Agrawal, however, said that the resource has not been fully utilized.
He said that the society can utilize women's full economic potential there by eliminating gender inequality and increasing opportunities for education, employment, entrepreneurship, and leadership.
President Agrawal went on to say that investing in women's empowerment will have a direct impact on family income, community prosperity, and economic development.
The session titled "Investing in Women" is being conducted with the recognition that ensuring gender equality is not only a moral necessity, but also a strategic path towards economic progress and sustainable development, he said.
In addition to that, President Agrawal underscored the need to increase women’s participation in the public bodies.
“There is a universal belief that women-led organizations have good governance. Hence, women’s role is very important in the prosperity of Nepal’s industrial and economic sectors. There is also a need to further enhance the role of women,” he stressed.
“We can see the development of women entrepreneurship growing positively in Nepal. Nepal's women entrepreneurs are making significant contributions in various sectors such as agriculture, tourism, information technology and handicrafts among others. Despite small business, the women have been contributing to the country’s economy,” Chairman Agrawal said, adding, “It is the need of the hour to develop women as an important basis for economic empowerment. For that, the CNI is ready to cooperate with the government.”
He stressed that women's representation in politics should be increased to achieve gender equality.
“Women's self-dependency is directly related to their financial conditions. It is necessary to increase the loan cap to utilize the knowledge and skills of women entrepreneurs,” CNI President Agrawal said while addressing the program.
He said that the Nepal government has been encouraging women legally to increase their participation in political and economic sectors.
Saying that Women's Leadership Summit is not just a summit, he said that It is also a campaign to encourage and advance women economically, socially, politically, and inclusively.
Gold price drops by Rs 400 per tola on Sunday
The price of gold has dropped by Rs 400 per tola in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 174, 100 per tola today. It was traded at Rs 174, 500 per tola on Friday.
Similarly, the price of silver has dropped by Rs 5 and is being traded at Rs 2, 045 per tola today.
Gold shines to hit record high of Rs 174, 500 per tola
Gold price has set a new record in the domestic market today.
According to the Nepal Gold and Silver Dealers’ Association, the price of precious yellow metal has increased by Rs 4, 000 per tola and is being traded at Rs 174, 500 per tola. It was traded at Rs 170, 500 per tola on Thursday.
Likewise, the silver is being traded at Rs 2, 050 per tola.
Current account remains at surplus in seven months of current FY
The current account remained at a surplus of Rs.166.80 billion in the review period compared to a surplus of Rs.162.52 billion in the same period of the previous year, Nepal Rastra Bank (NRB) stated in its 'Current Macroeconomic and Financial Situation of Nepal (Based on Seven Months Data Ending Mid-February, 2024/25) Report'.
In the US Dollar terms, the current account registered a surplus of 1.24 billion in the review period against a surplus of 1.22 billion in the same period last year. In the review period, net capital transfer amounted to Rs.5.83 billion.
In the same period of the previous year, such transfer amounted to Rs.3.80 billion. Similarly, in the review period, Rs.7.45 billion foreign direct investment (equity only) was received.
In the same period of the previous year, foreign direct investment inflow (equity only) amounted to Rs.5.19 billion.
Balance of Payments (BOP) remained at a surplus of Rs.284.41 billion in the review period compared to a surplus of Rs.297.72 billion in the same period of the previous year.
In the US Dollar terms, the BOP remained at a surplus of 2.11 billion in the review period compared to a surplus of 2.24 billion in the same period of the previous year.
Foreign Exchange Reserves Gross foreign exchange reserves increased 16.1 percent to Rs.2369.08 billion in mid-February 2025 from Rs.2041.10 billion in mid-July 2024.
In the US dollar terms, the gross foreign exchange reserves increased 11.7 percent to 17.05 billion in mid-February 2025 from 15.27 billion in mid-July 2024.
Of the total foreign exchange reserves, the reserves held by NRB increased 13.9 percent to Rs.2105.14 billion in mid-February 2025 from Rs.1848.55 billion in mid-July 2024.
Reserves held by banks and financial institutions (except NRB) increased 37.1 percent to Rs.263.93 billion in mid-February 2025 from Rs.192.55 billion in mid-July 2024.
The share of Indian currency in total reserves stood at 22.0 percent in mid-February 2025.
Foreign Exchange Adequacy Indicators Based on the imports of seven months of 2024/25, the foreign exchange reserves of the banking sector is sufficient to cover the prospective merchandise imports of 17.2 months, and merchandise and services imports of 14.4 months.
The ratio of reserves-to-GDP, reserves-to-imports and reserves-to-M2 stood at 41.5 percent, 120.3 percent and 32.5 percent respectively in mid-February 2025.
Such ratios were 35.8 percent, 108.6 percent and 29.3 percent respectively in mid-July 2024.
