Nepal continues seeing an unprecedented surge in remittances, a vital part of the country's economy. Nepal received Rs 839 billion in remittance in the first seven months of the current fiscal year 2023/24. This amount is 21.6% more than that of the first seven months of the previous fiscal year. While the immediate financial benefits of this influx are undeniable, it's crucial to emphasize the necessity for long-term economic sustainability too.

KATHMANDU, Sept 19: A multi-billion rupee micro-enterprise project for eradicating poverty through micro-entrepreneurship and employment generation was established in 1998. The program is now mired in political mess and woefully inept record-keeping. Data on the entrepreneurs has not been updated for several years.