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

CNI welcomes government’s steps

The Confederation of Nepalese Industries (CNI) has said the steps initiated by Nepal Rastra Bank to prop up the economy hit and weakened by the COVID-19 pandemic were worth welcoming.

In a press release, the CNI stated that specific changes made in the monetary policy would help sustain the liquidity in the economy. “Nepal’s central bank has taken into account the various issues CNI had been raising at different times.

Let’s invest money for capital formation: Finance Minister Dr Khatiwada

The government has come up with strict measures to tackle the impact of COVID-19 on the economy and other areas.

Against this backdrop, Minister for Finance, who is also the Minister for Communications and Information Technology, Dr Yubaraj Khaitwada has talked about the government measures to combat COVID-19, economic relief packages and other things that the government has pushed forward.

Calling the need for authentic news dissemination, the Communications and Information Minister said the social networking sites users also should give only correct information, adding no one should work to create fear and terror in the society.

Nepal formally postpones Visit Nepal 2020

Nepal has officially postponed Visit Nepal 2020, an ambitious campaign to attract two million tourists. Kedar Bahadur Adhikari, Secretary at the Ministry of Culture, Tourism and Civil Aviation said that a recent meeting of the Council of Ministers decided to postpone the campaign.

The decision comes in a wake of the COVID-19 pandemic the world is currently fighting against. Similarly, the meeting has also decided to dissolve Visit Nepal 2020’s Secretariat from April 15. Businessman Suraj Vaidhya is In-charge of the secretariat.

Ncell pays Rs 4.60 billion Capital Gains Tax

Private telecommunications company Ncell has paid Rs 4.60 billion Capital Gains Tax (CGT) on Tuesday.

The amount was submitted to the Large Tax Payers Office (LTPO) today, according to Tax Administrator Jhalakram Adhikari. Out of Rs 21 billion, 104 million determined by a Supreme Court’s order, Ncell deposited Rs 4.50 billion at Large Tax Payers Office (LTPO).

Supply of essentials smooth in Bagmati State

The Bagmati State Government’s Ministry of Industry, Tourism, Forest and Environment has said that arrangements have been made to ensure smooth supply of essential goods in the state in the aftermath of COVID-19 pandemic.

According to the ministry, the state has around 11,290 metric tons of rice; 2,600 metric tons of lentils, 3,923 metric tons of sugar, 32 thousand metric tons of salt, 84 thousand LPG cylinders in stock in the State.

Suspension of domestic flights to continue till April 15

The Civil Aviation Authority of Nepal (CAAN) has clarified that the suspension of domestic flights will continue till April 15.

Issuing a notice, CAAN stated that the suspension period of all international and domestic commercial flights has been extended till April 15 midnight.

Special permission for passenger evacuation flights, freighter flights, rescue flights and other emergency flights is required, as usual, said the national aviation governing authority.

Govt bans imports of high-end cars, expensive edibles

The government has decided to temporarily ban the import of luxury vehicles and a number of expensive edibles.

The decision is made to avoid possible fall in foreign currency reserve of the country as economic activities come to a halt due to the COVID-19 outbreak.

The cabinet meeting has decided to impose a restriction on the import of cars costing more than Rs 5.5 million, dry fruits like dates, cloves, small cardamom, peas, and alcoholic beverage.

Similarly, the government has lowered the gold import quota to 10 kg a day.

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. The Institute for Strategic and Socio-Economic Research (ISSR), Nepal’s independent think tank, and Khabarhub — Nepal popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.