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The price of gold has dropped by Rs 3, 000 per tola in the domestic market on Sunday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the yellow metal is being traded at Rs 190, 700 per tola today. It was traded at Rs 193, 700 per tola on Friday.

Similarly, the price of silver has dropped by 5 and is being traded at Rs 2, 150 per tola today.

Twelve projects under the Intensive Urban Development and Building Construction Office, Rajpur Doti, have remained stalled for the past nine months in Sanfebagar Municipality. These projects, launched under the Intensive Urban Development Program, include blacktopping of the Airport Bazaar and Chhipekhola Roads, construction of residences for the Mayor and Deputy Mayor, development of Sarm Khelne Park and Bayalpata Park, repair of Baidyanath Dham Road, construction of the Thanti Bazaar Inner Road, the Tarekuna Complex Building, and the road from Ghughurkot Ward Office to Durbar. Additional plans involve the management of Hat Bazaar Khola, blacktopping of Pul Bazaar Road, and construction of the Lamakhet Dopka Drain.

The delays have been caused by financial disputes between the main contractor, Synergy/Dhruvatara JV, and the subcontractor, Langtang Construction Pvt Ltd, which was awarded dozens of projects as part of a single package. While eight projects have made sluggish progress, work on Baidyanath Dham Road, Thanti Bazaar Inner Road, Lamakhet Dopka Drainage, and Hat Bazaar Khola Management has yet to begin.

Nawaraj Buddha, Ward Chairman of Sanfebagar Municipality-4, said locals are suffering due to incomplete roads in key areas. “During the rice planting season, rainwater washes gravel from the unfinished Airport Bazaar road into the fields. Locals are demanding compensation. Contractors are unreachable. The so-called development is only causing damage,” he said.

The Synergy/Dhruvatara JV Construction Company signed a Rs 336.121m (including VAT) contract with the Urban Development and Building Construction Office on 31 Oct 2024, agreeing to complete the works within six months. It subcontracted the work to Langtang Construction Pvt Ltd.

Santosh Gurung, a representative of Langtang Construction, said the company is struggling due to non-payment. “We still haven’t received Rs 17.4m. How can we continue when we haven’t even been able to pay workers?” he said, alleging that the main contractor raised project bills and diverted Rs 146.4m for other works.

Another Langtang representative, Pradeep Khadka, claimed that while 51 percent of the work has been completed, the company has only received Rs 41m. He reiterated that the problem lies with the main contractor. According to him, only the construction of the Mayor and Deputy Mayor’s residence and the Tarekuna Complex building is currently progressing; all other roadworks have stalled.

Ram Ashish Das, Project Chief at the Urban Development and Building Construction Office, Doti, also acknowledged serious negligence by the contractor. He stated that the office has forwarded a request for a one-year extension to the department, although only a six-month extension is likely to be approved. “The main and subcontractors haven’t even sat down for talks,” he said, adding that payments were released before Dashain based on verified work. The subcontractor claims they haven’t received the amount due, while the main contractor allegedly exaggerated the scope of work completed. “With the monsoon underway and Dashain-Tihar approaching, we are left with no choice but to consider legal action,” he added.

Dhubra Kunwar, a representative of Synergy/Dhruvatara JV, claimed that the company had paid Langtang Construction. “We received Rs 146.4m from the Intensive Urban Development Program and paid Langtang accordingly. The subcontractor has now gone out of contact,” he said, adding that work will now resume after delays caused by budget shortages and other issues.

The construction of the Dodhara Chandani Integrated Check Post and Dry Port, a national priority project, is set to begin soon, with preparatory work such as tree and utility pole removal nearing completion. The Council of Ministers had approved the use of 42.36 hectares of national forest land in the buffer zone of Shuklaphanta National Park (Dodhara Chandani Municipality-1, Kanchanpur) for the project on 18 Sept 2024, granting permission for tree and pole removal.

To implement this decision, a bilateral agreement was signed on Jan 7, between the Department of National Parks and Wildlife Conservation and the Nepal Intermodal Transport Development Committee. For the check post construction, 1,593 trees were identified for felling within the protected area. The Shuklaphanta National Park Office granted permission for tree felling on Feb 6.

A tender for tree felling was published on Feb 13, the contractor was selected, and work commenced on April 21. So far, 940 trees have been felled. The remaining trees are expected to be cleared by late June. A Memorandum of Understanding (MoU) for the project was signed between the Government of Nepal and the Government of India on 1 June 2023. The project, which is backed by Indian financial and technical assistance, is estimated to cost Rs 3.8bn. A construction company has been selected from the Indian side, and a formal agreement is expected soon.

“This project has reached this stage thanks to the active and coordinated efforts of Honorable Minister of Industry, Commerce and Supplies Damodar Bhandari,” said Ashish Gajurel, Executive Director of the Nepal Intermodal Transport Development Committee. He credited the progress to the approval of the project’s environmental impact assessment and the decision to permit tree felling. Gajurel also confirmed that the contract process is complete and that tree management will conclude within 15 days, allowing construction to begin within one to two months.

The dry port will feature state-of-the-art trade infrastructure, including roads, parking areas, platforms, warehouses, weighbridges, container yards, passenger terminals, customs facilities, banks, laboratories for livestock and food quarantine, administrative buildings, and other necessary structures. Once operational, it is expected to significantly facilitate trade and become a key milestone in the development of the Far West. In addition to enhancing import capabilities, the dry port is also intended to boost exports from the Far West. According to Gajurel, there are plans to connect the port with India in the second phase of development.

The gold is being traded at Rs 193, 700 per tola in the domestic market on Friday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the price of silver, however, has increased by Rs 75 and is being traded at Rs 2, 150 per tola today.