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The country received Rs 407.31 billion in remittances in the first three months of the current fiscal year, the central bank said today.

"Remittance inflows increased 11.5 percent to Rs 407.31 billion in the review period compared to an increase of 25.8 percent in the same period of the previous year," Nepal Rastra Bank (NRB) stated in the Current Macroeconomic and Financial Situation of Nepal Report, which is based on three months data ending Mid-October.

In US Dollar terms, remittance inflows reached 3.04 billion in the review period which was 2.76 billion in the same period of the previous year, according to the NRB. 

The central bank said that the number of Nepali workers taking first-time approval for foreign employment stands at 110,654 and taking approval for renewed entry stands at 59,939 in the past three months. In the review period of the previous year, such number of workers taking time-time approval for foreign jobs was 113,397.

Current account surplus at Rs 111.87 billion

Likewise, the current account of the government remained at a surplus of Rs 111.87 billion in the review period compared to a surplus of Rs 59.65 billion in the same period of the previous year. "In the review period, net capital transfer amounted to Rs 2 billion and foreign direct investment inflow (Equity only) remained at Rs 4.81 billion," according to the NRB.

Similarly, the Balance of Payments (BOP) remained at a surplus of Rs 184.99 billion in the review period while it was at a surplus of Rs 101.66 billion in the same period of the previous year.

The report stated that the gross foreign exchange reserves increased 9.4 percent to Rs 2232.28 billion in mid-October 2024 from Rs 2041.10 billion in mid-July 2024.

It said that the year-on-year unit value export price index, based on customs data, increased 2.9 percent and the import price index decreased 3.5 percent in the past three months. The terms of trade index increased 6.5 percent in the review period.

The net services income remained at a deficit of Rs 23.29 billion in the review period compared to a deficit of Rs 29.39 billion in the same period of the previous year.

Exports and imports decrease

During the three months, the country's exports and imports decreased by 6.1 percent and 4.2 percent, respectively. The exports decreased by 6.1 percent to Rs 38.38 billion compared to a decrease of 2.3 percent in the same period of the previous year. Exports to India, China and other countries decreased 5.3 percent, 24.8 percent and 6.6 percent respectively. Exports of soyabean oil, tea, particle board, shoes and sandals, oil cakes, among others increased whereas exports of zinc sheet, palm oil, cardamom, juice, and readymade garments, among others decreased in the review period.

The imports decreased 4.2 percent to Rs 390.75 billion compared to an increase of 1.7 percent a year ago. Destination-wise, imports from India, China and other countries decreased 3.9 percent, 1.5 percent and 7.9 percent respectively.

The total trade deficit decreased 4 percent to Rs 352.37 billion during the first three months of the current fiscal year. Such a deficit had increased 2.1 percent in the same period of the previous year. The export-import ratio decreased to 9.8 percent in the review period from 10 percent in the corresponding period of the previous year.

The consumer price increased by 4.82 percent in mid-October compared to 7.5 percent a year ago. Food and beverage inflation stood at 7.18 percent whereas non-food and service inflation stood at 3.49 per cent in the review period.

Under the food and beverage category, the year-on-year price index of vegetables increased 25.15 percent, pulses and legumes 10 percent, cereal grains and their products 9.57 percent and ghee and oil 4.98 percent but the price index of meat and fish sub-category decreased 1.18 percent.

Police have arrested controversial businessman Durga Prasain on Tuesday.

A team of Central Investigation Bureau apprehended Prasain from his home this afternoon for spreading rumors against Prime Minister KP Sharma Oli with the help of ‘fake documents’.

The CIB informed that the action will be taken against him after carrying out investigation.

According to police, action will be taken against him under the Electronic Transactions Act.

In the document published by him on social media stating that Oli had invested in Cambodia, there was the name and fake signature of Prime Minister Oli.

Police have also increased surveillance on those who circulate the 'fake document'.

Earlier, the Kathmandu District Court had granted permission to arrest Prasain to conduct investigation under the Electronic Transactions Act.

Police nabbed him following the order.

On October 15, the Kathmandu District Court had ordered police to release Prasain, arrested for cyber crime related charges, on bail.

The Nepal Women’s U19 National Team has qualified for the World Cup, marking a historic achievement. Much of the credit goes to Captain Puja Mahato, who played a pivotal role in the World Cup qualifiers, leading the team on this remarkable journey. 

Mahato grew up in Delhi, India, where her father worked. She received her cricket training there while pursuing her early education. “I was more interested in cricket than any other sport,” she shared. Her father, a former cricketer, had to abandon his cricketing dreams due to family responsibilities. However, with his unwavering support, Mahato pursued her passion for cricket, eventually becoming a successful cricketer and leading the Nepali side to this historic milestone. 

ApEx spoke with Mahato about this achievement. Excerpts:

Under your captaincy, the U19 Women’s Team reached the World Cup for the first time. How are you feeling?

I am very happy. This victory belongs to all Nepalis. The whole country is celebrating. We achieved this success with the love, affection, and support of everyone in Nepal. It has only been a year since I joined the team, and I have worked very hard so we could represent Nepal on the world stage in such a short time. My family and cricket supporters have played a significant role in this success. Everyone’s positive contributions have been crucial. 

How did you manage to lead the team to victory?  

We prepared with the single objective of taking Nepal to the World Cup, no matter what. The entire team contributed positively. Once I was given the captaincy, I focused on ensuring we played our best and won the qualifier matches. I had many discussions with my teammates and colleagues, and their positive support was instrumental. Every member of the team worked hard, and as a result, we succeeded in winning this series. 

How much has the cricket team changed since you joined?  

Earlier, there wasn’t an organized playing field, and players had no facilities. They had to manage everything on their own, which was truly unfortunate. At that time, there was little to no involvement or interest from the concerned authorities. Players felt stuck, their morale was low, and they lacked the motivation to showcase their talent. Now, things have gradually improved. Both the central and provincial governments have started including athlete-focused programs in their budgets. This is a positive development for Nepali sports, and I’m happy to see this progress.

What role have the concerned authorities played in the women’s cricket team so far?

For the development of Nepali sports, gradual improvements are being made at the government level. Compared to the past, the progress is evident, especially in the initial phases. However, all three levels of government need to play a more active role in boosting players’ morale. In the absence of necessary support, the senior team couldn’t reach the World Cup. Recently, with improved facilities for players and games, we’ve managed to lead the junior team to this milestone. Let’s hope the situation continues to improve.  

To foster cricket’s development, players’ morale must remain strong, and adequate facilities should be provided across all sports. The government must work to bring every sport in Nepal to the forefront and offer services and facilities aligned with global standards. For international recognition, the government must play as strong a role as the players themselves.  

Nepali players are capable of showcasing their talent when given opportunities. However, they need the government’s support to achieve their full potential. The government must also ensure the Cricket Association of Nepal (CAN) has the resources it needs. At the district level, including Mahottari, there are no cricket grounds, and players lack essential facilities. This requires immediate attention.  

We, as women players, are not weaker than anyone. Our recent achievements in competing globally are a testament to this. Women need encouragement. When given opportunities, every daughter is ready to face challenges head-on. There are many inspiring examples of women achieving greatness when supported. 

What would you like to say to young women aspiring to join this field?

I am a daughter of the Madhesi community and come from a poor family. If I had listened to societal criticism, I would have stayed where I was. However, my father and family ignored the negativity and pushed me forward. I urge the young girls and parents in this region to embrace struggles without fear. Parents must play a strong role in supporting their children’s dreams. Likewise, daughters and sisters should commit to fulfilling their families’ aspirations by staying dedicated to their goals. With determination and family support, every challenge can be overcome.

Thinley Lhamo is a Tibetan actor who was recently seen in the movie Shambhala, a 2024 film directed by Min Bahadur Bham. She was awarded the prestigious Boccalino d’Oro Prize for Best Acting Performance at the 77th Locarno Film Festival in Switzerland. Shreya Shrestha from ApEx spoke to Lhamo about the challenges of being an actor, her aspirations, and how the work she does makes her the person that she is. 

How did you get into acting and how has your journey been so far?

My journey started with the first movie, ‘Naka,’ which was released in 2017. It was followed by ‘Hari’ in 2018. Shambhala happened after a long gap but I’m grateful to be back. I met many directors after my first film and there were talks of working together but nothing came out of them. It could have been due to bad timing, conflicting visions, or maybe the stories just didn’t work out. I believe I was also a little slack, meaning I could have been more out there and invested in my personal and professional growth.

Shambhala has been a huge success and it’s gotten you many accolades. How does it feel?  

It took a lot of time for me to process what was happening. We were told that I was getting an award at the very last minute, and I was in the middle of something. I had to rush through everything, and things happened so quickly that I didn’t have a chance to truly comprehend what had just occurred. It was incredibly hectic, and everything moved at a breakneck pace. We were immediately thrust into a whirlwind of activity, including taking photos for the media. While I understand that people were genuinely happy and enjoying the moment, I personally didn’t have the opportunity to fully experience those feelings. Instead, I felt a sense of public joy, as I was surrounded by many people who were celebrating my success and the impact of my work.

 What was your experience like while shooting for Shambhala?

The experience was wonderful. I was able to return to filmmaking after a long gap and that thrilled me. The project instilled in me a sense of determination, making me realize that I can overcome any obstacle. I believe I was physically and mentally prepared to act again. I can’t control how things go and the outcome isn’t in my hands but I was thankful that the opportunity came my way. I had some problems with the local dialect and had to work on that. The team dedicated itself to practicing the dialogues and we also spent a lot of time understanding the culture of the place the story was set in.

 What are some of the challenges of being a part of the film industry?

Getting into the film industry without prior knowledge can be a daunting task. Navigating the complex work systems, understanding industry norms, and building relationships with professionals are challenging, especially when you lack a strong support network. I vividly recall a particularly nerve-wracking experience at the Berlinale press conference. Despite preparing for various scenarios, I found myself overwhelmed by all the pressure. This incident, among others, has been a valuable learning experience. It has reinforced the understanding that I’m still in a phase of continuous learning and growth.

 Do you have anything you want to highlight about Berlinale and Locarno?

The level of competition is undeniably high, and it’s essential to network with as many people as possible at such events. This opportunity allowed me to connect with a diverse range of individuals. One aspect that truly impressed me was the profound respect for cinema. In Nepal, I noticed people talking and disturbing others during screenings. However, at the event, the audience was incredibly attentive, fully immersed in the films. They even expressed annoyance if anyone disrupted the viewing experience, highlighting a level of cinematic appreciation that I found truly admirable.

 How has your work contributed to your personal growth?

Meeting a diverse range of individuals and navigating interpersonal dynamics is a fascinating aspect of life. People are interesting with their unique perspectives and experiences. Some individuals are driven to achieve great things, yet remain unsatisfied, while others find contentment in a simpler lifestyle. While I’ve previously done two films, this time the acceptance has been notably different. It seems that the nature of the work and the impact it has made have resonated with people, inspiring a desire to push boundaries and strive for even greater achievements.