PM Deuba sees need of utility corridor for coordinated development

Prime Minister Sher Bahadur Deuba has underscored the need of formulating a bill on urban development along with utility corridor to carry out the development and construction works in a coordinated manner.

Finance Ministry forwards proposal to slash Govt. fuel allowance

Finance Minister Janardan Sharma has said that a proposal to cut the fuel allowance for government employees by 20 per cent has been forwarded to the Council of Ministers.

NBA decides not to issue LC for import of essentials

LC will not be allowed to open to import materials like vehicles, gold, silvers, sugar, chewing gum, dry foods, furniture, cigarettes, alcohol, perfume and mobile phones among others, said chief executive officer of the Nepal Bank Limited, Krishna Bahadur Adhikari, also a member of the Association's working committee.

A quarter capex in 9 months, 2% more than that of past FY

According to the data of the Financial Comptroller General Office (FCGO), the government spent Rs 96.2 billion until the first week of April 2022 out of the yearly target of Rs 352.9 billion.

Minister Bhusal urges for cooperation from private sector in building prosperous Nepal

Inaugurating the second annual general assembly of the Lalitpur Chamber of Commerce and Industry here today, Minister Bhusal reiterated the government's goal for economic development by adopting a three-pillar economy policy by forging partnerships between government and private sectors.

ADB estimates Nepal GDP to grow by 3.1%

The Asian Development Bank (ADB) has projected that Nepal's gross domestic products (GDP) will grow by 3.1 per cent in this fiscal year, 2021/022.

Minister Bhusal emphasizes water resources' multiple usage

At a programme organized by the Department of Water Resources and Irrigation and various research organizations related to the water resources sector here today, Minister argued that natural resources were the mainstay of socio-economic development of the country and drew the attention of stakeholders agencies towards proper utilization of the natural resources.

Bird flu detected in eight places of Chitwan

According to Bharatpur-based Veterinary Hospital and Livestock Service Expert Center, bird flu was confirmed at the poultry farms of Kiran Prasad Kandel based in Kharahani municipality-2, Madan Krishna Manandhar at Bharatpur metropolis-8 and Khemlal Bhusal and Chandra Bhusal at Bharatpur-23.

Cost of borrowing rises as deposit rises by only 4% against 12% rise in lending

The Nepal Bankers Association’s (NBA) data showed that the credit flow rose by 12 per cent while deposit collection went up by only 4 per cent in the period between mid of July to March end of the current FY.

Interest rate continues with upward trend

The rising interest rates indicated that the cost of funds has been rising which could affect credit growth and inflation in the future.

FNCCI, IBN agree to promote investment in country

The FNCCI President Shekhar Golchha and the IBN chief executive officer Sushil Bhatta signed the MoU in the presence of Finance Minister and IBN Vice-Chairperson Janardan Sharma amid a function here today.

NEA importing electricity from India at Rs. 38 a unit to avoid power outage

Kulman Ghising, NEA executive director, informed at a press meet held today that the NEA has registered a bid to import electricity from India which will result in a loss of Rs. 29 per unit for the NEA. The new price will come into effect from today, Thursday midnight.

Rising exports help improve import export ratio

The Foreign Trade Statistics (FTS) of mid-March released by the Department of Customs showed that import to export ratio in the first eight months of the current FY reduced to 8.6 which is encouraging compared to 11.69 as recorded in the same period of the previous FY.

CIAA confiscates documents from Bheemdatt municipality for investigation

The Commission for the Investigation of Abuse of Authority (CIAA) office in Kanchanpur has seized documents from the Bheemdatt Municipality Office for investigation.

Govt. treasury up by 20%, tax revenue covers over 85% of Govt. income

The FCGO showed that the aggregate receipts crossed Rs. 736.6 billion in the first eight months of this fiscal, up from Rs. 609.2 billion recorded in the same period of the last FY.

India buys Russian oil despite pressure for sanctions

The state-run Indian Oil Corp. bought 3 million barrels of crude oil from Russia earlier this week. Indian media reports said Russia was offering a discount on oil purchases of 20% below global benchmark prices.

Excess liquidity fluctuates around Rs. 12 billion, challenges for BFIs loom large

The Current Macroeconomic and Financial Situation of the mid-February revealed that the balance of payment (BoP) remained at a deficit of Rs. 247.03 billion, imports increased by 42.8 per cent, remittance decreased by 4.9 per cent in the NPR terms.

Margin on import to reduce economic challenges: Finance Minister Sharma

Addressing a seminar on customs management organized by the Department of Customs here Saturday, Minister Sharma viewed that although tightening of import was affecting customs, the customs offices should strive to meet the targets. He believed that the seminar would be fruitful to face the challenges surfaced in the customs management along with revenue mobilization and trade facilitation.

Bird flu detected again in Bhaktapur

The meeting of the district security committee held on Friday following the confirmation of the bird flu decided to destroy the chicken, eggs, waste, and feed as per Bird Flu Control Regulation, 2078.

Govt. committed to controlling inflation: Minister Bhusal

Speaking at a program organized here today on the occasion of the sixth foundation day of Godavari Municipality today, she said that it was difficult for ordinary people to run the daily expenses due to high cost.