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Tourists' mobility has visibly increased in Thamel – the main tourism hub – with the advent of autumn season. Tourism entrepreneurs are being elated with the rise in arrival of tourists.

The entrepreneurs have come across financial trouble with a sharp fall in the inflow of tourists in the wake of the devastating Gorkha earthquake, trade embargo and coronavirus pandemic.

A new hope is simmering among the entrepreneurs with the gradual rise in the arrivals of tourists at the onset of tourism season.

Influx of foreign tourists has increased in Thamel of late, said Thamel-based restaurant operator Bhagawan Thapa, who has been offering Thakali cuisine varieties.

"In earlier months, hardly 10-15 domestic and foreign guests used to visit my restaurant daily for eateries. But the number has increased to 45-50 this month and most of them are foreigners", he shared.

Kiran Dev Ghimire, who has been operating a stationery shop in Thamel for the past one-and-a-half decade, said inflow of foreign tourists has increased in Thamel lately.

However, tourists have been facing trouble in lack of proper maintenance of dilapidated roads in Thamel which has established its international fame, he mentioned.

Fancy cloth operator Sitaram Regmi commented that business volume has not increased in Thamel despite a rise in tourism activities. "Fancy business transactions have dropped in Thamel this year compared to last year".

Hotel business has a different story in Thamel. The occupancies in Thamel-based hotels have increased with a rising flow of tourists.

Mahesh Phuyal, operator of Thamel-based four-star hotel Ramada Encore, said hotel rooms have been booked for the autumn season since a month before.

Sahadev Dhamala, proprietor of a hotel in Thamel, however said tourism business in Thamel has not been as anticipated due to short-term stay of tourists of late.

Dhamala, also the vice-chairperson of Thamel Tourism Development Council, said the Council has been holding discussions with different agencies on the measures to prolong the stay of foreign tourists in Thamel.

According to Nepal Tourism Board, a total of 692,372 tourists have entered Nepal via air routes in the first nine months of the year 2023. Among them, 91,012 tourists arrived in Nepal in the month of September alone.

The Nepal Stock Exchange (NEPSE) plunged by 35. 67 points to close at 1,921.24 points on Sunday.

Similarly, the sensitive index dropped by 5. 79 points to close at 367. 57 points.

A total of 5,815,189-unit shares of 289 companies were traded for Rs 1. 80 billion.

Meanwhile, Barahi Hydropower Public Limited was the top gainer today with its price surging by 9. 59 percent. Likewise, Himalayan Laghubitta Bittiya Sanstha Limited and Garima Debenture, 2085 were the top losers as their price fell by 10. 00 percent.

At the end of the day, the total market capitalization stood at Rs 2. 93 trillion

The price of gold has increased by Rs 300 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the precious yellow metal is being traded at Rs 107, 600 per tola today. It was traded at Rs 107, 300 per tola on Friday.

Meanwhile, tejabi gold is being traded at Rs 107, 100 per tola. It was traded at Rs 106, 800 per tola.

Similarly, the price of silver has increased by Rs 20 and is being traded at Rs 1,330 per tola today.  

The Nepal Airlines Corporation is facing several economic crises due to the severe mismanagement, irregularities, and mismanagement. 

In this context, a report prepared by a committee headed by the former governor of Nepal Rastra Bank, Dipendra Bahadur Chhetri, has come up with a slew of recommendations to improve the national flag carrier. 
The long-term debt of the NAC stands at Rs 47bn. Looking at the current situation, it seems that the corporation will not be debt-free; in fact, it is likely to carry more debt. The report states that if  the NAC continues to operate this way, it will not be able to pay its debt.

According to the report released by the Ministry of Culture, Tourism and Civil Aviation, even if new aircraft are added to its fleet, it will take a long time for the NAC to pay off its loans. To free the corporation from debt and make it profitable, the Chhetri-led committee recommends several solutions, such as converting into a corporate company by collaborating with strategic partners and dividing the company into three entities. 

The committee suggests that once the corporation is turned into a company limited, it can allocate shares up to a maximum of 40 percent to strategic partners. The committee recommends that the Ministry of Finance should hold 26 percent of the total shares and the Ministry of Tourism 25 percent. It also advises allocating shares to organizations and employees. 

The committee has further suggested forming a board of directors with seven members, chaired by the secretary of the Ministry of Culture, Tourism and Civil Aviation. The members include representatives from the airlines, Ministry of Finance, strategic partners, and aviation experts.

As for dividing the company, the committee suggests breaking it into three parts: parent (holding) company, international flight subsidiary company, and domestic flight subsidiary company.
The committee states that the parent company should provide aviation-related professional training, maintenance and repair of aircraft and related equipment, ground service operation, catering arrangements, and technical and other services to the subsidiary companies as needed.

By dividing the role and responsibility, the committee reckons that the management and operation of the airlines will be more streamlined and effective.