Nepal Rocked by Budget Battles, Visa Scandal & Middle East Crisis | Full National Update!
Today’s Economic Daily: Nepal’s Comprehensive Update from Budget Politics to Global Crisis, Tech & Sports
Kathmandu, Asar 10, 2082 (June 25, 2025) – Today’s Economic Daily provides a sweeping overview of national and international developments, spanning key updates in politics, economy, technology, foreign employment, social issues, and sports. From the passing of Nepal’s national budget to international diplomatic shifts and breakthroughs in electric mobility, this edition captures the pulse of a rapidly evolving world.
🔹 Politics & Governance: Budget Passed Amid Dissent and Debate
Nepal’s House of Representatives has passed the national budget for fiscal year 2082/83. Finance Minister Bishnu Prasad Paudel described the budget as “realistic” and capable of achieving its growth targets. Despite this, dissent echoed from Koshi Province, with Congress MPs expressing dissatisfaction. Kathmandu Metropolitan City failed to announce its budget on time, unlike other five metropolises including Lalitpur (Rs. 7.46 billion) and Hetauda (Rs. 2.9 billion).
The controversial “Take and Pay” model for electricity purchase agreements drew widespread criticism. Finance Minister Paudel has submitted an amendment proposal, which led to the withdrawal of protests by energy developers following its removal.
🔹 Visit Visa Scandal: Probe Committee Formed, Parliament Boycotted
A high-level committee headed by former Chief Secretary Shankar Das Bairagi has been formed to investigate the visit visa scandal. However, Rastriya Swatantra Party (RSP) has continued its parliamentary boycott, demanding the probe be headed by a sitting or former judge. RPP’s Chief Whip Gyanendra Shahi slammed the committee as a cover-up to protect 14 former and current home ministers. UML’s MP Thakur Prasad Gaire accused RSP of promoting parliamentary anarchy, while former PM Pushpa Kamal Dahal ‘Prachanda’ stated he is committed to ensuring justice for RSP and its leader Rabi Lamichhane.
The Janata Samajwadi Party (JSP) has decided to withdraw support from the government, citing its failure in good governance, anti-corruption efforts, constitutional amendment, and economic reform.
🔹 Economy & Finance: Post-Budget Market Jitters
Following the budget announcement, Nepal’s share market saw a minor dip – NEPSE index dropped to 2600.53. Tuesday’s transaction volume dropped to Rs. 5.76 billion from Monday’s Rs. 6.5 billion. Large investors were seen accumulating stocks in anticipation of recovery. Hydropower shares faced heavy supply, while the investment segment surged to 9.5%, suggesting a shift in investor focus.
Nepal Rastra Bank extended the timeline for meeting directed lending targets by a year and allowed restructuring of loans up to Rs. 20 million. Muktinath Bikas Bank launched services for students going abroad. Meanwhile, Laxmi Sunrise Bank reported that 50 “phone loan” borrowers are missing, facing blacklisting. Allegations of financial irregularities have led to the arrest of the former finance chief of Karnali Development Bank.
Over 142,000 metric tons of chemical fertilizer are being imported. Kiwi farming is emerging as a profitable venture with potential annual returns of Rs. 700,000.
NAS-IT (Nepal Association for Software and IT Services Companies) has welcomed the government’s policy allowing IT companies to invest abroad.
🔹 International Affairs & Foreign Employment: Crisis & Reforms
Amid rising tensions in the Middle East, Nepali workers in the region are facing fear and uncertainty. Rescue operations have begun in Iran and Israel, with India rescuing Nepali and Sri Lankan nationals under “Operation Sindhu.” Qatar has brokered a ceasefire between Iran and Israel, with Qatar Airways resuming flights. Iran reportedly attacked a U.S. base in Qatar with no casualties. GCC is set to introduce a joint tourist visa for six Gulf nations.
UAE has increased the minimum wage for Nepali workers. Labour Minister Sharatsingh Bhandari announced that unskilled workers must be paid at least 1,400 dirhams (including food allowance). TikTok videos have highlighted the exploitative conditions of Nepali domestic workers in Kuwait, many of whom have worked two years straight without rest or leave. Calls have been made to blacklist companies violating wage agreements.
In Kuwait, free home delivery of jewelry for Nepali women and room rentals suitable for Nepalis, Indians, Bhutanese, and Filipinos are available. Nepali housemaids are also reportedly available in Nizwa, Oman.
🔹 Automobile & Technology: EV Boom, Legal Risks, & Innovation
LS Auto has opened a new showroom in Kathmandu’s Tinkune, planning to unveil two new models (LEV X and LEV 05) at the upcoming NADA Auto Show. Prices for the LEV 01 range from Rs. 59.95 lakh (Standard) to Rs. 64.95 lakh (Comfort). Vehicles come with 8-year/150,000 km motor and battery warranties. The company is expanding its charging network and has already established a service center in Kalopul.
Tata’s Curve EV has completed a historic journey from Kathmandu to Kanyakumari, proving electric cars aren’t limited to short trips. Hyundai Nepal launched the Creta EV in Nepalgunj, selling 4 units on the spot. MG Motors Nepal has reduced spare parts prices by an average of 30% for over 100 items. The government has enforced Euro 5 emission standards.
LG Display plans to invest 1.26 trillion won in new OLED technologies by 2027. Gokarneshwor Municipality has launched its own mobile app. A man was arrested for defrauding Rs. 500,000 via eSewa and mobile banking, luring victims with false promises of recruitment into Nepal’s Armed Police Force.
🔹 Social & Health: Protests, Consumer Rights & Online Controversy
Nepal Radiological Society staged a protest at Maitighar Mandala, opposing the proposed O&M survey by the Ministry of Health, demanding job positions be preserved. Nepal Pharmaceutical Traders Association donated 100 drug test kits to traffic police through district police offices.
In Kathmandu, a restaurant allegedly served bones in vegetarian food, prompting a complaint. In India, dancer Manisha was assaulted by a crowd during a provocative performance in Delhi’s City Park – a reminder for Nepali content creators to exercise caution in public.
🔹 Sports: Nepal Reaches Global eSports, Sets New Cricket Records
Nepali PUBG Mobile team HORA Esports has qualified for the PUBG Mobile World Cup in Saudi Arabia. Nepal’s national women’s football team departed for Uzbekistan for Asian Cup qualifiers, led by Belgian coach Patrick De Wilde.
Fast bowler Karan KC became the second Nepali cricketer to take 50 wickets in T20 Internationals, following captain Sandeep Lamichhane’s 67.
🔹 Tourism & Education: Invest in Agri-Skills, US Study Seminar
President Ramchandra Paudel encouraged returnee youth to invest their skills in agriculture. A seminar was held on the opportunities and challenges of pursuing higher education in the USA.
🔹 Other Headlines
The delay in the Federal Civil Service Bill is not due to the cooling-off period, authorities clarified. A former Balmandir secretary was released on bail. The film Koshedhunga will be released in over 40 countries starting Bhadra 12.
