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NEA increases load shedding by 14 hours a day

Gorkha Post

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KATHMANDU — The Nepal Electricity Authority on Sunday announced increase in the load shedding hours to 86 hours a week from the existing 77 hours a week effective from Monday.

With this change, people will be without electricity for up to 14 hours a day. The reducing water level in rivers feeding major hydropower plants has compelled the authority to make such a move, according to Ram Chandra Pandey, deputy managing director at the NEA.

While the state-owned utility currently supplies around 500MW power, including 200MW it imports from India, the peak demand stands at 1,300MW.

“A surge in the electricity demand in the wake of an acute fuel shortage has also prompted the NEA to increase power cuts,” Pandey said.

Though the government had pledged power supply during “cooking time”, the new schedule leaves people without electricity to cook their meals for at least three days a week.

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Economy

NEPSE stabilises

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KATHMANDU- The Nepal Stock Exchange (Nepse) index has stabilised to some extent as compared to the first trading day on Sunday when it suffered a sharp dip.

The NEPSE index increased 0.9 points to close at 1131.73. Likewise, the sensitive index, which measures the performance of group ‘A’ stocks has also risen 0.06 points.

Over 2 million shares of a total of 156 companies were traded at more than Rs 637 million. Of the total 11 subgroups, four made gains, and the rest seven declined.

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Development bank surged 4.7 points, while non-life insurance 92.1 points, life-insurance 13.57 points and others 0.43 points.

But, banking dipped 0.27 points, while trade 1.18 points, hotel 2.04 points, hydropower 2.17 points, finance 1.82 points, production 9.21 points and microfinance 8.31 points.

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