Economy

Writ filed at SC, seeking release of IRD DG Chief

Choodamani Sharma

Kathmandu / July 11: A writ petition has been filed at the Supreme Court ( SC) Tuesday, demanding the release of Director General of Inland Revenue Department, Chudamani Sharma, who is presently in the custody of Commission for the Investigation of Abuse of Authority (CIAA) on corruption charge. Sharma’s spouse Ms Kalpana Upreti Sharma moved […]


Monetary policy draws mixed reaction; Monetary policy for FY 2074\75 made public

Nepal Rastra Bank

Kathmandu / July 9: Representatives from business associations, including Nepal Bankers’ Association, and Federation of Nepalese Chamber of Commerce and Industries (FNCCI), have expressed differing views on the monetary policy made public by Nepal Rastra Bank (NRB) on Sunday. Chairman of Nepal Bankers’ Association, Anil Keshari Sah, commented that the monetary policy did not prioritize […]


Bank is not a business firm: NRB governor

Chiranjivi Nepal

Kathmandu / Jun 30: Nepal Rastra Bank (NRB) Governor Dr. Chiranjibi Nepal has stressed on the need of enhancing the efficiency and transparency of banks and financial institutions. Inaugurating the integrated transactions of the Kumari Bank Limited here on Friday, the central bank governor called on the banks to reach the local levels (village level) […]


ADB to provide 150 million dollar loan to improve power distribution

adb

Kathmandu / Jun 30: The Asian Development Bank has approved 150 million dollar loan to help improve Nepal’s electricity supply and distribution. Issuing a press release Friday, the ADB said it will also administer a 2 million dollar’s technical assistance grant from the Japan Fund for Poverty Reduction (JFPR) financed by the Government of Japan […]


Quake survivors alloted 1,500 taxicab licences

EON-taxi

Kathmandu / Jun. 24: The government completed the process of distributing licences for operating taxicab to the survivors of April 2015 Gorkha earthquake on Friday. The Department of Transportation Management (DoTM) allotted permits to 1,500 quake survivors through a lucky draw amid presence of government officials and representatives of several institutions. The DoTM conducted lotteries […]


AIIB promises huge investments in Nepal’s six projects

Asian Infrastructure Bankt

Kathmandu / Jun 19:The Asian Infrastructure Investment Bank (AIIB) is to invest hugely in Nepal’s six projects. The AIIB, during the meeting with the Nepali delegation headed by Finance Minister Gyanendra Bahadur Karki to the meeting of the AIIB Board of Governors that was held in Jeju of South Korea on June 16-18, pledged to […]


Hotel community praises budget

Budget

Kathmandu / May 30: The tourism entrepreneurs have praised the budget, saying that it was unveiled with due priority for tourism infrastructure development. They stressed the effective implementation of the budget. They said that the budget was friendly for the tourism sector as it has given emphasis on airport construction, trekking route development and religious […]


Quality improvement in country’s economy: growth estimated to be seven per cent

Finance Ministry

Kathmandu / May 28:The Government has estimated the economic growth of the current fiscal year to increase by 6.94 per cent. According to the Economic Survey 2016/17 released by the Ministry of Finance here today, favourable climate leading to rise in agriculture productivity, increase in capital expenditure, energy management and improvement in atmosphere for investment […]


New budget to continue existing programs

Budget

Kathmandu / May 24: The government is estimated to present the budget of over Rs 120 billion for the fiscal year 2017-18, which is more by 15.2 billion than the current fiscal year’s budget. The government is preparing to present a new budget on coming May 29, Monday by giving continuity to existing programs. As […]


Employees Provident Fund constructing 680-MW hydropower project

hydropower project

Kathmandu / May 21: The government has granted approval to the Employees Provident Fund for the construction of 680-MW Karnali Hydropower Project on its funding. The Energy Ministry granted approval to the EBF today to take ahead the construction of the project. Energy Ministry Secretary Anup Kumar Upadhyay handed over a permission letter to Fund […]




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