Weekly Economic Update: April 02, 2021 — April 08, 2021

1. Banks and Financial Institutions (BFIs) blacklisted as many as 3,942 individuals and firms in the last eight months of the current fiscal year against the central bank’s direction.
2. As per the department of immigration, 32,997 tourists visited Nepal in the first three months of 2021. Nearly 15,000 tourists entered Nepal in March 2021.
3. Suryabinayak Green Agriculture Wholesale Market in Bhaktapur came into operation as Nepal’s largest vegetable market. Spread over 35 ropanis, the market has 750 stalls, and will be open from 2 AM to 8 PM every day.
4. 30,500 tonnes of fertilizer arrived from Bangladesh so far out of the total 50,000 tonnes purchased. The remaining 19,500 tonnes is expected to arrive within the next two weeks.
5. Medium and large factories in Bhairahawa were forced to cut production for the last few weeks due to insufficient supply of electricity.
6. Nepal Telecom plans to begin the testing 5G technology in four major cities if Nepal including Kathmandu within mid-July 2021, after the NTA finishes preparing the terms and conditions for the trials.

Sources:
[1] https://myrepublica.nagariknetwork.com/news/bfis-blacklist-around-4-000-loan-defaulters-in-eight-months-of-current-fiscal-year/

[2] https://thehimalayantimes.com/business/expedition-season-boosts-tourist-arrivals

[3] https://myrepublica.nagariknetwork.com/news/bhaktapur-opens-country-s-largest-vegetable-market/

[4] https://thehimalayantimes.com/business/over-30000-tonnes-of-fertiliser-arrive-from-bangladesh

[5] https://kathmandupost.com/money/2021/04/07/manufacturing-encounters-energy-problems-just-as-industries-were-recovering-from-pandemic-blow

[6] https://kathmandupost.com/money/2021/04/03/nepal-telecom-likely-to-begin-5g-trials-by-mid-july