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Life insurers have collected more than Rs 96.01bn in insurance premium over the first seven months of fiscal year 2024/25. According to Nepal Insurance Authority (NIA), the insurance sector regulator, 14 life insurance companies collected Rs 95.38bn in premium in the review period, while three micro insurers doing life insurance business collected Rs 625.2m in premium during the review period.

These companies collected Rs 14.83bn in premium in the seventh month (mid-January to mid-February) alone. Life insurance companies collected Rs 75.25 from renewal premium, Rs 18.43bn in new premium and Rs 1.7bn in foreign employment insurance premium. Similarly, micro insurers collected Rs 347.5m in first premium, Rs 272.7m in foreign employment premium and Rs 4.9m in renewal premium.

Nepal Life Insurance leads the life insurers in terms of premium collection. The company collected Rs 26.54bn in premium in the review period. National Life Insurance and Life Insurance Corporation (Nepal) were next with total insurance premium collections of Rs 11.23m and Rs 11.16m, respectively.

Total premium collections by these companies account for nearly half of the total premiums collected by 14 life insurance companies and three micro insurers. Among micro life insurers, Guardian Micro Life Insurance collected the highest premium of Rs 245.12m in the review period.

The number of active policies held by life insurers have reached 14.15m. Of this, 13.4m active policies are held by life insurance companies and 746,800 by micro life insurers. These companies issued 507,891 new policies, including 79,677 issued by micro insurers, in the review month alone. The total insured amount of these policies is Rs 158.82bn.

Meanwhile, net profit of life insurance companies increased by 14.85 percent in the first half of the current fiscal year. According to NIA, 14 insurance companies posted a combined net profit of Rs 3.48bn over the first six months of 2024/25 compared to Rs 3.03bn in the same period of the previous fiscal year.

The price of gold has dropped by Rs 200 per tola in the domestic market on Thursday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 170, 300 per tola today. It was traded at Rs 170, 500 per tola on Wednesday.

The price of silver, however, has increased by Rs 5 and is being traded at Rs 1, 945 per tola today.

The construction of a 400 kV Lapsiphedi Substation is underway in Bozini, Shankharapur Municipality-3, in eastern Kathmandu. The substation, designed for 400/220 kV, 220/132 kV, and 132/11 kV levels, aims to transmit electricity from hydroelectric projects on the Tamakoshi and Sunkoshi rivers and their tributaries to the Kathmandu Valley. The project is scheduled for completion by March 2026.

Despite initial local opposition, construction, which began about a year ago, is progressing steadily. Built on approximately 172 ropanis of land, the Lapsiphedi Substation is set to become the largest electricity supply hub in Kathmandu Valley. Some locals had obstructed the project, arguing that the substation should not be built in a residential area. However, landowners had already received compensation, and all legal procedures—including the Initial Environmental Examination (IEE) and Supplementary IEE—were completed before selecting Bozhini as the most suitable location.

Under the Khimti-Barhabise-Lapsiphedi Substation Project, nearly 40 percent of the civil structures, including the control room and GIS equipment building of the 400/220 kV Lapsiphedi Substation, have been completed. About 80 percent of the equipment supply—including power transformers, GIS, and control panels—has also been finalized. Meanwhile, the Khimti and Barhabise substations under the same project are also under construction.

Similarly, under the Tamakoshi-Kathmandu Transmission Line Project, 50 percent of the civil structures for the 220/132 kV and 132/11 kV substations have been completed, while 98 percent of the equipment has been supplied. Once the civil works are finished, equipment installation at the substations will commence.

During a site inspection on Wednesday, Nepal Electricity Authority (NEA) Executive Director Kulman Ghising urged project managers and contractors to deploy additional manpower to ensure timely completion. “While local issues initially caused delays, overall progress has been satisfactory,” he said. “We are committed to addressing legitimate local concerns by investing in road repairs, drinking water facilities, school buildings, playgrounds, monasteries, and employment opportunities under Corporate Social Responsibility (CSR).”

As part of the Tamakoshi-Kathmandu 220/400 kV Transmission Line Project, a 400 kV transmission line will connect the new Khimti Substation in Ramechhap to Kathmandu via Barhabise in Sindhupalchowk. All towers in the Khimti-Barhabise section have been erected, with only three kilometers of wire left to be installed.

In the Barhabise-Lapsiphedi section, 120 out of 122 towers have been completed, and about 42 kilometers of wire have been laid. Project Chief Nitish Poudel stated that the goal is to complete the Tamakoshi-Kathmandu transmission line by March 2026. The 220 kV substation in Barhabise has already been completed.

The substations and transmission lines are being built with funding from the Government of Nepal, NEA, and a concessional loan from the Asian Development Bank (ADB) under the ‘Power Transmission Expansion and System Improvement Project’.

The construction of the Lapsiphedi-Changunarayan 132 kV transmission line, intended to supply electricity from Lapsiphedi to Kathmandu Valley, remains stalled due to landowner opposition. For the past seven years, construction has been blocked due to disputes over the right-of-way for transmission lines.

Although the 132 kV Changunarayan Substation has been completed, it remains non-operational due to the lack of a power supply. Once operational, it will provide reliable and high-quality electricity to eastern Kathmandu, which currently depends on supply from the Chabahil Substation.

Farmers involved in animal husbandry in Madhes Province are to be provided with grants.

According to Bardibas-based Economic Corridor Project Office of the Madhes Province Ministry of Agriculture and Livestock Development, a process to provide Rs 2 billion grants to 179 farmer groups of Madhes Province has reached the final phase.

The farmer groups are going to be provided with grants with an objective of encouraging them in agriculture and production-oriented activities, said Office Chief, Surendra Yadav. The program is operated with financial support from the World Bank.

The office has selected farmer groups in eight districts of Madhes Province where more than 5,000 farmers are associated in the groups, shared Information Officer, Santosh Prakash.

The farmer groups would get grants as per the number of farmers and their proposal.

Rautahat district would get the highest amount of grants Rs 550 million, Saptari Rs 310 million, Mahottari Rs 260 million, Rs 230 million in Dhanusha, Rs 160 million in Sarlahi and Rs 140 million in Bara.

Similarly, Parsa district would get the lowest Rs 70 million grants. There is a provision where the concerned farmer group has to invest 55 per cent where the office would provide 45 per cent of the total investment.

The program is operated at 84 local levels connected with East-West highway and Postal Highway in the province. The main objective of the project is to develop rural enterprises creating supportive environment for the promotion of market relations between small producers and farmers associated in agriculture value chain.