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The Nepal Overseas Export Import Association has demanded diplomatic initiatives and infrastructure arrangements to open other border points to facilitate land trade with China. The association has demanded the opening of other border points as the two northern border points, Suwagadhi and Tatopani, are closed every year during the rainy season due to floods and landslides.

The movement of people and goods through the Rasuwagadhi border point has come to a standstill after the flood on the night of June 10 washed away the Miteri Bridge connecting Nepal and China. The Tatopani border point in Sindhupalchowk has also been blocked for two weeks due to floods and landslides. Hundreds of containers and trucks carrying goods imported for Nepal have been stranded on the road due to the sudden closure of the border point due to natural disasters. Due to which businessmen have been forced to bear heavy expenses.

Since it is necessary to open other border crossings to facilitate import and export with China, the association has urged the government to make those border crossings operational through diplomatic initiatives and to arrange infrastructure at other alternative border crossings. The Development Committee of the Legislative Assembly had suggested that Korala and Olangchun Gola border crossings be made operational after studying the condition of the northern border crossings in 2015. High-ranking officials of the Nepal and Chinese governments had agreed to open seven northern border crossings during bilateral discussions a decade ago.

These border crossings included Tatopani, Korala in Mustang, Kimathanka in Sankhuwasabha, Lamabagar in Dolakha, Olangchun Gola in Taplejung, Amjapas in Mugu, Yari Hilsa in Humla, and Larke in Gorkha. However, so far, other border crossings except Rasuwagadhi and Tatopani have not been opened for commercial purposes.

Korala border crossing is in a condition to be operational for 12 months. Infrastructure is also ready at the Korala border crossing towards China. The road has also reached Korala on the Nepal side. Studies have shown that trade between the two countries can also be conducted through the Olangchun Gola border crossing in Taplejung. The association has drawn the attention of the government to open these border crossings for trade purposes as soon as possible and to create an environment for other border crossings that are suitable for trade.

China is Nepal’s second largest partner in import trade. Data shows that trade with China has been shifting towards the northern border crossings with the recent development of infrastructure.

The Nepal Stock Exchange (NEPSE) plunged by 9. 70 points to close at 2, 767. 20 points on Wednesday.

Similarly, the sensitive index dropped by 2. 10 points to close at 474. 96 points.

A total of 15,266,617-unit shares of 323 companies were traded for Rs 5. 20 billion.

Meanwhile,  Bikash Hydropower Company Limited (BHCL) was the top gainer today with its price surging by 10. 00 percent. Likewise, Panchakanya Mai Hydropower Ltd (PMHPL) was the top loser as its price fell by 9. 03 percent.

At the end of the day, the total market capitalization stood at Rs 1. 56 trillion.

The average non-performing loans (NPLs) of commercial banks increased by 13.28 percent in the fiscal year 2024/25, reflecting the continued strain on the country’s economic activities and credit recovery challenges faced by banks. A study of financial statements released by 20 commercial banks shows the average NPL ratio rose to 4.23 percent in fiscal year 2024/25, compared to 3.74 percent in the previous fiscal year.

Bankers attribute the rise in bad loans to sluggish economic activity, weak demand for credit and repayment constraints across several business sectors.  Thirteen commercial banks saw their NPL level go up, while seven managed to bring it down. NIC Asia Bank reported the largest spike in NPLs, up by 82.02 percent to 6.28 percent, from 3.45 percent the previous year. Himalayan Bank recorded the highest NPL ratio overall at 7.28 percent. The bank’s NPL was 4.98 percent in the previous fiscal year.

Similarly, Sanima Bank’s bad loans rose by 75 percent to 3.01 percent, while Nepal SBI Bank’s increased by 70.91 percent to 3.35 percent. Siddhartha Bank’s NPL climbed by 20.73 percent to 2.62 percent, and Citizens Bank reported a 20.48 percent rise to 4.94 percent. Prime Bank’s NPL rose by 19.56 percent to 5.56 percent, Nepal Investment Mega Bank’s (NIMB) by 19.14 percent to 5.85 percent and Global IME Bank’s by 16.78 percent to 4.87 percent. Likewise, NMB Bank saw a 9.41 percent increase in NPL to 3.72 percent, Kumari Bank saw its NPL rise by 7.71 percent to 6.42 percent, Nepal Bank’s by 3.23 percent to 4.47 percent and Prabhu Bank’s by 0.40 percent to 4.96 percent.

In contrast, Everest Bank succeeded in lowering its NPL ratio by 46.47 percent to just 0.38 percent, the lowest among all commercial banks. Similarly, Standard Chartered Bank reduced its NPL by 18.69 percent to 1.74 percent, while Agricultural Development Bank brought its NPL by 16.62 percent to 3.26 percent and Rastriya Banijya Bank by 16.12 percent to 3.59 percent. 

Likewise, Laxmi Sunrise Bank recorded an 8.20 percent decline in NPL to 4.25 percent, Nabil Bank’s NPL dropped by 4.04 percent to 4.27 percent, and Machhapuchchhre Bank trimmed its NPL by 0.77 percent to 3.83 percent.

The price of gold has dropped by Rs 1, 600 per tola in the domestic market on Wednesday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 193, 500 per tola today. It was traded at Rs 195, 100 per tola on Tuesday.

Similarly, the price of silver has dropped by Rs 45 and is being traded at Rs 2, 255 per tola.