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Nepal’s Power Export Boom: Rs. 17.47 Billion Earned from Electricity Exports

Nepal Electricity Authority (NEA) has made a major breakthrough in regional energy trade, earning Rs. 17.47 billion from electricity exports in FY 2081/82. With India as its primary market and preparations underway to export 40 MW to Bangladesh, Nepal’s electricity trade is expanding beyond its traditional borders.

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Nepal’s Power Export Boom: Rs. 17.47 Billion Earned from Electricity Exports

Nepal Electricity Authority has achieved a major milestone in regional energy trade, generating Rs. 17.471 billion from electricity exports during FY 2081/82, according to its 41st Annual Report. The earnings were generated mainly by selling surplus monsoon electricity in India through the Indian Energy Exchange’s Day-Ahead Market and bilateral power agreements. A country that once relied on costly electricity imports from India during the dry season has now emerged as a power exporter during the monsoon, marking a significant transformation in Nepal’s energy sector. The NEA has also expanded its ambitions beyond India, with the process of exporting 40 MW of electricity to Bangladesh through India’s transmission network reportedly nearing completion. The development is expected to open a new regional market for Nepal and increase both export volumes and foreign-currency earnings in the coming years.

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.