Nepal Economic Digest (August 01, 2020)

Khabarhub

August 1, 2020

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Nepal Economic Digest (August 01, 2020)
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KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Much awaited Kohalpur-Surkhet transmission line to resume after 32 years

The much awaited Kohalpur-Surkhet 132 KVA transmission line, the dream project of the residents of Karnali State, is set to resume after a halt of 32 years.

This project will cater to the residents of mountainous and hilly districts of the state, who have been suffering from low voltage for ages.

Initially started in 2045 B.S., the project was in limbo as a result of political movements and instability time and again.

On July 6, an agreement for the expansion of the project has been reached with the construction company, R.S. Infraprojects Pvt. Ltd. Rs 700 million has been proposed as initial cost for the project.

The construction company is asked to complete construction work like designing, construction, testing, distribution and machinery procurement within two years.

NBI and Madan Bhandari University sign agreement

National Business Initiative(NBI) and Madan Bhandari University’s Science and Technology Development Board (MBUSTD) have signed a Memorandum of Understanding to nurture cooperation and collaboration between the business community and MBUSTD in the days ahead.

According to a press release issued by NBI General Secretary Surendra Bir Malakar, Kush Kumar Joshi- the President of NBI and Prof. Dr. Rajendra Dhowj Joshi- the President of MBUSTD signed the agreement to strengthen the relationship between business community and the Madan Bhandari University.

The agreement has reiterated the need to identify the areas of comparative benefits and enhance the capacity of the enterprises, run more research based academic programs, establish the incubation center and promote joint project in the best interest of the business community and nation as a whole.

Landslide at hydel project, human settlements at risk in Sindhupalchowk

Power generation at the Indrawati III Hydropower Project was halted owing to the landslide occurred at the dam site.

The landslide had occurred at the dam site of the 7.5-MW project a Panchpokhari Thangpal-8 last night. The main entrance of the tunnel of the project and the pond has been damaged due to the landslide. Meanwhile, the landslide has put Tipeni bazaar and the human settlement above the landslide at risk.

The landslide has been taking place at the area due to construction of Panchpokhari tourism route and expansion as well as continuous rainfall.

Scores of people are stuck there in lack of alternative route at the place. Chairperson of Panchpokhari Thangpal rural municipality, Tashi Lama, said that they would involve in rescue of the stranded people and to resume the obstructed road.

(Compiled and prepared by Nitish Lal Shrestha)

Nepal Economic Digest is a daily morning email digest, basically relatable summations of the most important business news, happenings from Nepal into easy-to-understand summaries.

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