Shortage feared as sugar stock dwindles

Stock of sugar with the state-owned Salt Trading Corporation Limited is dwindling. The Corporation, which imported 20,000 tonnes of sugar for the last Dashain, has run out of stock as its plan to import sugar has not received a government nod.

Over 67% people have access to finance

Nepali people’s access to finance has increased significantly over the years. According to the Report on Financial Access in Nepal published by NRB on Friday, around 67.34 per cent population in Nepal has access to finance.

Frequent power outage has become a headache for students, teachers

Bishalya Gautam, a civil engineering student, was fed up with power cut that lasted for six hours from 8 am on Sunday and Monday at his home in Kathmandu-32. Not only did he miss the whole online classes for two days in a row, he was also unable to get water to wash even hands as there was no power to pump water. His mother, a schoolteacher, failed to teach students online, and his father was unable to email an important document.

National Paddy Day marked

Farmers across the country observed the 18th National Paddy Day and paddy festival by planting paddy and savouring Dahi Chiura (curd and beaten rice) on Tuesday. The theme of the 18th National Paddy Day was ' Increase in paddy production, food security, self-reliance and prosperity'.

Nepal’s rice import increasing

Rice import has increased significantly this fiscal year despite a significant increase in paddy production. Rice worth Rs. 48.14 billion (3.48 per cent of the total import that amounts to Rs. 1,383 billion) has been imported during the first eleven months of the current fiscal year (mid-July 2020 to mid-June 2021), according to the foreign trade statistics of the Department of Customs.

Consumer price inflation down to 3.65%, remittance up

The consumer price inflation has declined during the first 10 months of the current fiscal year 2020/21. According to the current macroeconomic and financial report published by Nepal Rastra Bank (NRB) on Monday, the year-on-year (y-o-y) consumer price inflation stood at 3.65 per cent in the first 10th month of the current fiscal year compared to 5.83 per cent a year ago. Food and beverage inflation stood at 4.72 per cen

Fertiliser supply improves

Lack of fertiliser during the paddy plantation season has been a recurrent problem in Nepal. Every year, the farmers face ordeals of fertiliser shortage. However, this year, the authorities have claimed that there would be no shortage of chemical fertiliser at least during the plantation season. They said they would manage to cater at least half of the demand to each farmer. “We will provide fertiliser to the farmers. They will not face dearth of fertiliser this year like in the past years as...

NRB approval not mandatory for foreign investment

Nepal Rastra Bank (NRB) has unveiled ‘NRB Foreign Direct Investment and Loan Management Bylaw, 2078’ Tuesday. Through the bylaw, NRB has facilitated the inflow of foreign investment without the approval of the central bank. As per the bylaw, it will not be mandatory for the foreign investor to obtain prior approval from the NRB to send or remit foreign currency to Nepal after obtaining foreign investment approval from the foreign investment sanctioning body.

Domestic production stressed to reduce cement import

Nepal Rastra Bank (NRB) has suggested opening additional cement industries with foreign investment. A report titled “Foreign Investment in Cement Industry in Nepal: A study of socio-economic impact” has shown that it would be appropriate to allow the opening of more cement industries with foreign investment to meet the growing domestic demand for cement by using the limestone mines available in Nepal and to reduce imports and promote exports.

COVID restrictions limit prospects of 4% economic growth

The Nepal Rastra Bank (NRB) has said that it will be challenging to achieve the projected 4 per cent economic growth in the current fiscal year due to the COVID-19 and prohibitory order put in effect to control the spread of the virus.