Economy
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Government forms task force to study reopening of Birgunj Sugar Mill after 27 years
The government has formed a task force to examine the possibility of reopening the Birgunj Sugar Mill, which has remained shut for nearly 27 years. The task force has been formed under the coordination of Shrikant Yadav, chief divisional engineer at the Ministry of Industry, Commerce and Supplies. The formation follows a Cabinet decision directing the government to assess the condition of the defunct factory and examine previous decisions, studies and reports concerning its potential revival. The task force will also recommend the measures that would need to be taken to move the process forward.
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Nepal Airlines revenue rises, but debt and costs keep recovery uncertain
Nepal Airlines Corporation (NAC) has recorded higher revenue in the last fiscal year, but preliminary figures show that the national flag carrier is still likely to post a deficit as debt, interest payments, maintenance costs and other operating expenses continue to weigh on its finances. Prime Minister Balendra Shah recently pointed to what he described as signs of recovery at Nepal Airlines. In a social media post, Shah said the carrier had generated Rs 6.27 billion in revenue in four months, achieved an 86 percent occupancy rate and repaid Rs 1.06 billion in loan instalments.
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NEA net profit falls 49.2 percent to Rs 5.04 billion
The Nepal Electricity Authority (NEA) recorded a net profit of Rs 5.04 billion in the last fiscal year, down 49.2 percent from Rs 8.06 billion a year earlier. The state-owned power utility’s net earnings declined by Rs 3.97 billion year-on-year, continuing a downward trend in recent years. The authority had posted a net profit of Rs 13.31 billion in fiscal year 2023/24. According to NEA officials, fluctuations in the US dollar exchange rate were a key factor behind the decline. The authority’s financial liabilities related to exchange-rate fluctuations increased 272.86 percent to Rs 11.51 billion.
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NAIMA Nepal Mobility Expo draws more than 150,000 visitors in five days
The NAIMA Nepal Mobility Expo 2026 has attracted more than 150,000 visitors during its first five days at Bhrikutimandap in Kathmandu, surpassing the organisers’ six-day attendance target one day before the event concludes. Around 42,000 people visited the expo on Saturday, marking the highest single-day attendance recorded so far. Visitor numbers stood at approximately 29,000 on the opening day, 26,000 on the second day, 22,000 on the third and more than 31,000 on the fourth day. The Nepal Automobile Importers and Manufacturers Association (NAIMA) had initially projected around 150,000 visitors over the six-day event. The target was reached during the fifth day itself.
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Nepal Telecom’s net profit jumps 47.58 percent to Rs 8.86 billion
Nepal Telecom has reported an unaudited net profit of Rs 8.86 billion for the fourth quarter of fiscal year 2025/26, marking a 47.58 percent increase from the Rs 6 billion profit recorded in the corresponding period of the previous fiscal year. According to the company’s unverified financial report, Nepal Telecom’s net profit increased by Rs 2.85 billion year on year, reflecting a significant improvement in its financial performance. The state-owned telecommunications company recorded growth across its major financial indicators during the fiscal year.