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The Nepal Electricity Authority (NEA) is constructing six 132/11 kV substations at various locations in Kathmandu and Bhaktapur to enhance the adequacy, reliability, quality, and safety of electricity transmission and distribution within the valley. Among these, the Teku substation in Kathmandu is already operational. The Futung and Mulpani substations are in their final stages, with work underway to bring them into operation within two months. The Changunarayan substation in Bhaktapur has been completed. The Chobhar substation is expected to be operational by June, while the Thimi substation in Bhaktapur will be completed within eight months.

Each substation has a capacity of 90 MVA. Once all are completed and operational, the infrastructure will be capable of handling 500 MW of electricity, meeting the Kathmandu Valley’s current demand. To address future demand, the NEA has set a 2050 deadline and is advancing plans for phased construction of transmission and distribution infrastructure in key areas of the valley. With peak electricity demand projected to reach 3,100 MW by 2050, the NEA is developing 20 new substations at 220, 132, 33, and 11 kV levels.

Land has been acquired for these substations, and preliminary work, including surveying, has been completed to construct a 220 kV transmission ring around Kathmandu Valley’s perimeter. The Lapsiphedi substation, currently under construction, will supply electricity to the valley from hydropower projects in the Tamakoshi and Sunkoshi river basins.

To improve the reliability, quality, and modernization of Kathmandu Valley’s electricity supply, the NEA is implementing various projects, including the construction of new substations, automation of existing ones, underground cabling, and the addition and strengthening of feeders and transformers.

NEA Managing Director Kulman Ghising inspected the substations under construction on Friday, urging their timely completion to meet growing electricity demand. He emphasized that once these substations are operational, electricity demand management and supply in Kathmandu will become significantly more efficient and reliable.

To enhance electricity supply in the southeastern region of Kathmandu, the construction of a 132/11 kV substation in Mulpani, Kageshwori Manohara Municipality, is in its final stage. The Chapali-Bhaktapur 132 kV transmission line will be connected to the Mulpani substation, ensuring electricity distribution. Eight 11 kV feeders from the substation will supply power to areas such as Jadibuti, Pepsicola, Kandaghari, Gothatar, Mulpani, Jorpati, Sankhu, and Thimi. Work is underway to make the substation operational by March.

The construction of a 132/11 kV substation in Futung is also in its final stages. The Balaju-Chapali 132 kV double circuit transmission line will be tapped at the Futung substation to supply electricity to the surrounding areas. Once operational, power supply to Balaju, Nepaltar, Goldhunga, and other areas will improve.

A 132/11 kV substation has also been constructed in Chobhar, Kathmandu, following disruptions in construction at Khokana, Bungmati, Harisiddhi, and Lamatar under the Thankot-Chapagaun-Bhaktapur 132 kV transmission line, a crucial project for improving Kathmandu Valley’s electricity supply. The substation will receive electricity from the Matatirtha Substation, with work progressing to make it operational by June.

Additionally, a 132 kV underground transmission line will be built from the Chobhar Substation along the Ring Road to connect with the Lagankhel Substation in Lalitpur, which is being upgraded to 132 kV. The underground line will later extend to Chapagaun and Harisiddhi.

The gap between government revenue and expenditure has continued to widen in the current fiscal year, raising concerns about fiscal management. According to the Financial Comptroller General Office, which tracks government spending and revenue, total expenditure until February reached Rs 800.35bn, while revenue collection stood at Rs 690.18bn. This has resulted in a budget deficit of Rs 110.17bn.

The government’s performance in both expenditure and revenue mobilization has been lackluster in the review period. With seven months of the fiscal year already completed, only 46.9 percent of the revenue target has been achieved. While non-tax revenue collection has progressed to 58.9 percent and tax revenue to 46.2 percent, progress in grant mobilization remains alarmingly low at 17.35 percent. In the fiscal year 2024/25, the government has set a revenue target of Rs 1,419.3bn. However, it has managed to collect only Rs 671.84bn by February. 

On the expenditure side, recurrent spending stands at 48.54 percent, while capital expenditure lags at a mere 21.16 percent, highlighting the government’s inability to fund development projects. Overall financial management progress has reached 46.87 percent.

Of the total budget allocation of Rs 1,860.3bn for the current fiscal year, only Rs 800.35bn has been spent as of February. Recurrent expenditure stands at Rs 553.63bn against the target of Rs 1,140.66bn allocated, while capital spending is limited to Rs 74.57bn out of the Rs 352.35bn target. This growing gap between revenue and expenditure is complicating preparations for the upcoming fiscal year 2025/26. The National Planning Commission has recommended a budget ceiling of Rs 1,900trn for the next fiscal year. The government had initially allocated Rs 1,860bn for the current fiscal year, but Finance Minister Bishnu Poudel reduced it by approximately Rs 200bn during the mid-term review.

Despite its limited spending capacity, the finance ministry is drafting a budget of around Rs 1,900bn for the next fiscal year. Officials, led by Budget Division Chief Shrikrishna Nepal, are working on the budget under the NPC’s ceiling. However, they face the challenge of addressing the funding gap caused by the suspension of US aid. Officials say the ministry is setting ambitious targets for foreign grants and loans, aiming for 22 percent and 30 percent increases, respectively, in the upcoming budget.

The gold is being traded at Rs 168, 100 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers’ Association, the silver is being traded at Rs 1,915 per tola today. 

The Nepal Stock Exchange (NEPSE) gained 75. 24 points to close at 2, 890.28 points on Sunday.

Similarly, the sensitive index surged by 14. 47 points to close at 484. 30 points.

A total of 29,166,656-unit shares of 302 companies were traded for Rs 14. 25 billion.

Meanwhile, Himalayan Distillery Limited (HDL), Guardian Micro Life Insurance Limited (GMLI) and Nepal Life Insurance Co. Ltd. (NLIC) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) the top loser as its price fell by 10.00 percent.

At the end of the day, total market capitalization stood at Rs 4. 79 trillion.