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The upgrade work has begun on the Palpa Ramdi Ranimahal road section of the Kaligandaki Corridor, which remained idle for 10 years. Upon completion, this section will contribute to the development of the corridor, connecting the Korala border crossing in China to Maldhunga and Gaindakot in eastern Nawalparasi. The project had stalled due to delays in opening the track on the 17-kilometer stretch of the Palpa Ramdi Ranimahal road section.

Although the track was eventually opened under the previous contract, the contract for the Ramdi Ranimahal road upgrade could not be awarded for years due to budget constraints. The Ministry of Finance only confirmed the necessary budget for the fiscal year 2024/25, allowing the office to issue a notice, select a new contractor, and commence work in the Ramdi Ranimahal area. Since work began, daily monitoring has been conducted by the office chief, engineers, technicians, and public representatives. Witnessing the rapid progress, local resident Dolraj Adhikari expressed optimism that the road would finally be completed.

With significant progress already made, locals believe that once the corridor road is fully paved, transportation will become easier, and agricultural products will reach markets more efficiently. Narendra Raj Pachbhaiya, a local resident, emphasized that the completed road is expected to increase the movement of religious tourists from China and India.

“Locals are pleased that the contractors have divided the work into sections. Many never imagined that a motorway would extend from Ramdi to the Kaligandaki banks in the Ranimahal area. Once paved, this corridor will facilitate the sale of agricultural produce, improve access to healthcare, and create new employment opportunities,” said Prem Narayan Panthi of Baganaskali Mandran.

The Ramdi Ranimahal road section is being closely monitored by the office, public representatives, and social leaders to ensure timely completion. Former Industry Minister Som Prasad Pandey is also advocating for the completion of this long-pending section of the Kaligandaki Corridor Road.

Following the opening of the track, the Nepal Government allocated Rs 1.48 billion through the Ministry of Finance, expediting the project. The construction contractor, Him Sagarmatha JV, is executing the road upgrade with a budget of Rs 850 million, aiming to complete the work within three years.

The contractors are working on expanding and widening the road, cutting hillsides, and constructing support walls and drainage systems. Of the 17-kilometer stretch, three kilometers—two in Ramdi and one in Mandran—will require blasting. Blasting work is currently in progress in the hills of the Ramdi area, according to Arun Kumar Khatri, an engineer from the Kaligandaki Corridor Gaindakot-Ramdi-Maldhunga Road Project Palpa Office.

“The contractors have demonstrated satisfactory progress on the Ramdi Ranimahal road section so far. Regular monitoring and inspection are being conducted by the office. If work continues at this pace and the budget remains secure, the project will be completed within the stipulated time frame, ensuring the overall completion of the Kaligandaki Corridor Maldhunga-Gaindakot section,” said Kalpana Adhikari Subedi, Division Chief of the Road Project Palpa Office.

The 132-kilometer road from Gaindakot to Ramdi has already been paved, with regular traffic operation for the past two years. Additionally, the road from Ranimahal to Argali Ridi has been blacktopped, facilitating smooth transportation. The segment from Gulmi Ridi to Arbeni has also been blacktopped. Meanwhile, the road upgrade from Arbeni in Gulmi to Balewa Airport in Baglung is in its final blacktopping stage. Apart from the Ramdi Ranimahal section, traffic is operating smoothly across the Gaindakot-Ramdi-Maldhunga road section, which falls under the supervision of the Road Project Office Palpa.

The price of gold has dropped by Rs 2, 200 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 168, 100 per tola today. It was traded at Rs 170, 300 per tola on Thursday.

Similarly, the price of silver has dropped by Rs 30 and is being traded at Rs 1, 915 per tola today.

The Nepal Stock Exchange (NEPSE) gained 49.15 points to close at 2,815.04 points on Thursday.

Similarly, the sensitive index surged by 9.75 points to close at 469. 82 points.

A total of 26,199,780-unit shares of 300 companies were traded for Rs 11. 39 billion.

Meanwhile, Guardian Micro Life Insurance Limited (GMLI) and Upper Hewakhola Hydropower Company Limited (UHEWA) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Bhugol Energy Development Company Limited (BEDC) was the top loser as its price fell by 7.17 percent.

At the end of the day, total market capitalization stood at Rs 4. 67 trillion.

Life insurers have collected more than Rs 96.01bn in insurance premium over the first seven months of fiscal year 2024/25. According to Nepal Insurance Authority (NIA), the insurance sector regulator, 14 life insurance companies collected Rs 95.38bn in premium in the review period, while three micro insurers doing life insurance business collected Rs 625.2m in premium during the review period.

These companies collected Rs 14.83bn in premium in the seventh month (mid-January to mid-February) alone. Life insurance companies collected Rs 75.25 from renewal premium, Rs 18.43bn in new premium and Rs 1.7bn in foreign employment insurance premium. Similarly, micro insurers collected Rs 347.5m in first premium, Rs 272.7m in foreign employment premium and Rs 4.9m in renewal premium.

Nepal Life Insurance leads the life insurers in terms of premium collection. The company collected Rs 26.54bn in premium in the review period. National Life Insurance and Life Insurance Corporation (Nepal) were next with total insurance premium collections of Rs 11.23m and Rs 11.16m, respectively.

Total premium collections by these companies account for nearly half of the total premiums collected by 14 life insurance companies and three micro insurers. Among micro life insurers, Guardian Micro Life Insurance collected the highest premium of Rs 245.12m in the review period.

The number of active policies held by life insurers have reached 14.15m. Of this, 13.4m active policies are held by life insurance companies and 746,800 by micro life insurers. These companies issued 507,891 new policies, including 79,677 issued by micro insurers, in the review month alone. The total insured amount of these policies is Rs 158.82bn.

Meanwhile, net profit of life insurance companies increased by 14.85 percent in the first half of the current fiscal year. According to NIA, 14 insurance companies posted a combined net profit of Rs 3.48bn over the first six months of 2024/25 compared to Rs 3.03bn in the same period of the previous fiscal year.