Salt Trading seeks more time to import sugar as state traders say Tihar stocks suffice

Salt Trading asks for more time to import sugar as state traders say Tihar stocks are enough, Kantipur reports

Nepal's state traders say they have enough sugar for Tihar, but Salt Trading Corporation has brought in only about 16,000 tonnes of a 25,000-tonne import target, Kantipur reported on Saturday. That is 64 percent. The corporation holds about 11,700 tonnes and wants the import deadline, which was Asoj 20 (October 6), extended. No decision on that has been reported.

The Cabinet cleared the 25,000-tonne import at 1 percent customs duty for Salt Trading and the Food Management and Trading Company, OnlineKhabar reported in September. Salt Trading and the food company sell sugar at Rs 110 a kg, and fair-price shops at Rs 100, Kantipur said. Privately imported sugar costs Rs 120 to Rs 135.

Cooking gas is less settled. Nepal Oil Corporation says imports are enough, but gas is not reaching some dealers on time, and it will improve distribution for Tihar. The LP gas industry association says imports have dropped and shortages may go on.

The industry minister had pledged 160 loads of gas a day. The oil corporation's spokesperson put the last two days at 149 and 137, according to Kantipur, and called 160 a target rather than a requirement. The association says the pledge has not been met.

Why it matters: Festival-season sugar demand is about 30,000 tonnes and annual demand about 300,000 tonnes, Kantipur said. The report does not say whether the 16,000 tonnes includes the food company's share, or when the minister made his gas pledge.

NEPSE loses 34.93 points over the week to 2,655.22 as turnover falls 17.88 percent

NEPSE ended the week of Kattik 16 to 20 (November 2 to 6) at 2,655.22, down 34.93 points or 1.30 percent over five sessions, Kantipur and The Kathmandu Post reported on Saturday. Turnover for the week fell 17.88 percent to Rs 28.24 billion from Rs 34.39 billion. The daily average dropped to Rs 5.65 billion from Rs 6.88 billion.

Eleven of 13 sector indices fell. Market capitalisation slipped about Rs 60 billion to Rs 4.57 trillion. The Post put the slide down to profit-taking after the post-Dashain rally, while Kantipur pointed to thinner participation rather than heavy selling.

There was no session on Saturday, and Kantipur expects the market to stay shut for about a week over the festivals and a long public holiday. No reopening date has been given.

Rice and dal cost more before Tihar, retailers' group says, Merolagani reports

Rice is up Rs 200 to Rs 400 a sack as the new crop arrived, a former chairman of the Nepal Khudra Byapar Sangh told Merolagani, which put dal up Rs 40 to Rs 100 a kg.

Polygon co-founder proposes AI and data-centre investment to the finance minister, Kantipur reports

Sandeep Nailwal, a co-founder of the Polygon network, proposed investing in AI computing and data centres run on Nepal's hydropower when he met the finance minister and the central bank governor on Friday, Kantipur reported. Nothing has been signed.

Electricity authority expects Laxmi Puja demand of about 1,700 MW against 2,500 MW of generation

The Nepal Electricity Authority expects demand to peak at about 1,700 MW on the evening of Laxmi Puja, with about 2,500 MW of generation available at the same time, Kantipur, Clickmandu and Merolagani reported on Saturday. Both figures are projections.

At a management meeting the authority's executive director told offices to finish pending line and distribution maintenance before Tihar and Chhath. Repair teams are to stay ready, and the No Light complaint line is to be answered. Consumers were asked to have faults fixed only by skilled technicians, Merolagani said.

Why it matters: None of the reports says whether the 1,700 MW includes power sold to India, or gives the dates of Laxmi Puja and Chhath. The authority's own notice was not found.

Prime Minister's office puts Arun-3 past 77 percent complete, Bizshala reports

Arun-3 hydropower has passed 77 percent physical progress, the Prime Minister's office says in its post-Dashain progress report, Bizshala reported. The report says investment has been approved for Nar Khola, Sani Bheri-3 and Betan Karnali, without saying by whom or when.