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PM Balendra Shah’s Bold Housing Vow: Permanent Homes and Digital Verification for Every Landless Citizen

Prime Minister Balendra Shah has announced a nationwide initiative to identify genuine landless citizens and provide them with safe, permanent housing. The plan includes relocating those in high-risk areas and using digital data to resolve long-standing land issues.

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PM Balendra Shah’s Bold Housing Vow: Permanent Homes and Digital Verification for Every Landless Citizen

Prime Minister Balendra Shah has announced that the government is taking decisive steps to provide long-term housing for genuine landless citizens. In a recent social media statement, he explained that individuals currently residing in high-risk or hazardous zones will be moved to safer, more organized locations. Other cases will be evaluated based on official recommendations and verified data. Addressing public concerns regarding the removal of settlements from riverbanks and public land in the Kathmandu Valley, the Prime Minister clarified that the objective is to secure proper housing for those in need rather than focus on eviction. He noted that legal obstacles within the Land Act 2021 BS have been addressed, paving the way for the government to begin digital data collection and verification of landless individuals. Shah urged the public to ignore rumors and avoid panic, reaffirming the administration's commitment to ensuring that no citizen remains homeless.

Nepal Rastra Bank Publishes Thursday's Foreign Exchange Rates; US Dollar at Rs. 149.61

Nepal Rastra Bank (NRB) has published the official foreign exchange rates for Thursday. The buying rate of one US dollar has been fixed at Rs. 149.61 and the selling rate at Rs. 150.21. The British Pound Sterling has recorded the highest value among the major currencies listed, with a selling rate of Rs. 200.16.

Gold Price Plunges by Rs. 5,900 Per Tola on Dhanteras; Silver Also Declines

Gold and silver prices recorded a sharp decline in the Nepali market on Friday, Kartik 20, coinciding with Dhanteras. Gold fell by Rs. 5,900 per tola to Rs. 283,000, while silver dropped by Rs. 110 per tola.

Nepal's VAT Collection Exceeds Target as Consumer Reward Scheme Boosts Tax Compliance

Nepal's VAT collection exceeded its first-quarter target in FY 2083/84, reaching Rs. 41.04 billion, up 10% compared to the same period last year. The increase comes after the Inland Revenue Department introduced a consumer reward scheme encouraging people to demand bills when making purchases.

Nepal Estimates $5 Billion Needed for Reconstruction After Bhotekoshi-Trishuli Disasters

Finance Minister Dr. Swarnim Wagle has estimated that Nepal will require approximately $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. The government is preparing a phased financing plan, including financial support from India, China, the World Bank and the Asian Development Bank (ADB).

Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a 124.52 percent increase in net profit, earning Rs 6.38 crore in the first quarter of FY 2083/84, compared to Rs 2.84 crore in the same period last year. Higher electricity sales revenue and lower interest expenses supported the company's improved profitability.

Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has made a remarkable financial turnaround, reporting a net profit of Rs 3.65 crore in the first quarter of FY 2083/84, compared to a net loss of Rs 1.89 crore in the same period last year.