Nepse surges by 12. 58 points on Sunday
The Nepal Stock Exchange (NEPSE) gained 12. 58 points to close at 2, 601. 21 points on Sunday.
Similarly, the sensitive index surged by 2. 41 points to close at 439. 04 points.
A total of 12,982,619-unit shares of 325 companies were traded for Rs 6. 25 billion.
Meanwhile, Bottlers Nepal (Balaju) Limited (BNL) was the top gainer today, with its price surging by 10. 00 percent. Likewise, Super Madi Hydropower Limited (SMHL) was the top loser as its price fell by 10.00 percent.
At the end of the day, total market capitalization stood at Rs 4. 31 trillion.
Gold price drops by Rs 800 per tola on Sunday
The price of gold has dropped by Rs 800 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 157, 100 per tola today. It was traded at Rs 157, 900 per tola on Friday.
Similarly, the silver is being traded at Rs 1, 860 per tola today.
Gold price increases by Rs 1,300 per tola on Friday
The price of gold has increased by Rs 1, 300 per tola in the domestic market on Friday.
According to the Federation of Gold and Silver Dealers' Association, the gold is being traded at Rs 157,900 per tola. It was traded at Rs 156,600 on Thursday.
Similarly, the price of silver has increased by Rs 50 and is being traded at Rs 1, 880 per tola.
Karnali projects face construction delays
On 28 June 2022, the contract for the construction of Baddichaur-Bimreni-Babiyachaur-Bidyapur road in Surkhet was awarded to Anak/Jayadevi JV construction company. It has been two years, and not even 20 percent of the road work has been completed.
The construction work of the Ranighat-Telpani-Bhurigaun road in Surkhet, which was taken over by Thodung/Jagruti JV on 30 June 2022, is limited to 10 percent. The construction work of the road has been stalled by the construction entrepreneur citing the problem of cutting trees inside the wildlife reserve. According to Senior Divisional Engineer Ramesh Subedi, spokesperson for the Ministry of Physical Infrastructure and Urban Development of the provincial government, the construction of the Mangalgadhi-Kankrebihar road in the provincial capital Birendranagar was entrusted to Amar/Sisneng Nepal Mega JV in 10 Dec 2021. The deadline for the construction of the road was 15 June 2024. However, only 75 percent of the work has been completed.
The construction of the road from the district headquarters of Dailekh to Ward 1-4 of Naumule Rural Municipality, the road connecting Juni Jajarkot via Upper Dugeshwor Dullu Beuli to Kalikot, the construction of the Sangetada Bindrashaini Chamunda road, and the construction of the Rabat Chamaghat Khola concrete bridge also started in 2021. These projects should be completed by 2025. However, the work of any project has not progressed beyond 60 percent.
Similarly, the Sheri Pantadhi Padamghat Jumla road in Kalikot, the Sannighat to Sipkhana road project, the construction of Damrigad concrete bridge, and the construction of Jarkot concrete bridge were started in 2020/21. The construction work of all these projects was taken up by construction entrepreneur Tara Shah. However, the work of these projects has not exceeded 40 percent.
The construction work of Jajarkot Chheda Thalah Sanakhola Chande Jumla road, Salma Khola bridge, Barekot Sagutara and Nalgad Sirke connecting road bridge, Kalimati Khalchaur Netilekh road section, Sakla Khari Bayale Limsa road section began in 2021. So far, the work of Chheda Thalah Sanakhola Chande Jumla road is 10 percent.
The construction work of Salma Khola bridge is 30 percent. The work of Barekot Sagutara and Nalgad Sirke connecting the road bridge is zero percent. The construction work of Sakla Khari Bayale Limsa road section of Kalimati Khalchaur Netilekh road section is 85 percent completed. There is still a delay in the work of all these projects.
The Provincial government’s Secretary at the Ministry of Physical Infrastructure and Urban Development, Ishwor Chandra Marhatta, says that construction entrepreneurs who have stalled the project have been asked to complete it as soon as possible. “We have repeatedly called the construction entrepreneurs who are taking responsibility for the construction of Karnali projects and are delaying it to the ministry for discussion,” says Marhatta, “We have put pressure on them to complete the construction as soon as possible. Some construction entrepreneurs have even started the construction work. Even now, if the construction entrepreneurs do not show their commitment to complete the work they have taken on as soon as possible, we will be forced to take legal action.”
He said that the government’s achievements in Karnali have also been low due to the delay of construction entrepreneurs. The development projects taken forward by the government for the convenience of the citizens are in a state of disarray. Citizens are questioning whether the government has not worked. Karnali Province Government’s Minister for Physical Infrastructure and Urban Development Sher Bahadur Budha says, “The ministry has already prepared a list of construction entrepreneurs who are causing the development projects of Karnali to be in a state of disarray. Even now, if the project is delayed, we will be forced to take legal action.”
