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Disaster Relief Fund Balance Surpasses NRS 12.43 Billion

The Prime Minister Disaster Relief Fund has accumulated a total balance of more than NRS 12.43 billion, including deposits in Nepali rupee and US dollar accounts.

Published By Share Gyan
Disaster Relief Fund Balance Surpasses NRS 12.43 Billion

The Prime Minister Disaster Relief Fund has maintained a total balance of more than NRS 12.43 billion, according to the Office of the Prime Minister and Council of Ministers. As of 9:00 AM today, deposits held across nine bank accounts operated under the Fund stood at more than NRS 9.14 billion. In addition, the Fund’s US dollar accounts maintained at two banks held a combined USD 21.64 million. Including both rupee and dollar deposits, the Fund’s total balance has reached approximately NRS 12.433 billion. The Fund received an additional NRS 172.57 million and USD 274,062 during the 24-hour period ending at 9:00 AM today, reflecting continued contributions toward disaster relief efforts. Meanwhile, the government recently released NRS 1 billion from the Fund through the National Disaster Risk Reduction and Management Authority (NDRRMA) to provide humanitarian assistance to people affected by the floods in the Bhote Koshi and Trishuli river systems on August 26.

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.