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

STC starts selling essentials in Kathmandu

The Salt Trading Corporation (STC) Limited has started selling daily essentials from its vans in various places of Kathmandu Valley. Information Officer of the STC, Kumar Rajbhandari said two vans have been mobilized to various places of the valley in the past five days.

According to him, the STC has been selling salt, sugar, lentils, maida, beans, wheat flours, among other stuff some 1o percent cheaper than the market price.

Economic growth will plummet to 2%: Minister Khatiwada

Finance Minister Yuba Raj Khatiwada said the economic growth would not meet the target set for the ongoing Fiscal Year 2019/20 due to the coronavirus.

Talking to Khabarhub on Wednesday, Finance Minister Khatiwada said the economic growth would drop to 2 percent due to the measures taken by the government to combat coronavirus.

“If the novel virus is contained immediately, the economic growth will go down to 2 percent. If the situation lingers longer, it will plummet to 1 percent,” said Khatiwada.

Govt allocates Rs 1.5 bln to combat COVID-19

The government has allotted Rs 1.5 billion for the prevention, control and the treatment of the coronavirus pandemic so far.

According to sources, the Ministry of Finance has doled out Rs 850 million for the Ministry of Health and Population and Rs 500 million to COVID-19 Prevention, Control and Treatment Fund.

Petrol, diesel cheaper by Rs 10 per liter

The Nepal Oil Corporation (NOC) has slashed the prices of petrol and diesel by Rs 10 effective from Wednesday midnight.

With this adjustment, while petrol is priced at Rs 96 per liter in Kathmandu, diesel and kerosene will cost Rs 85 per liter.

The adjustment has been made because of the decrease in the price of petroleum products in the international market owing to the coronavirus pandemic.

Over Rs 223 million deposited in Corona Prevention Fund

Over Rs 223 million has been deposited so far in the Coronavirus Infection Prevention and Treatment Fund established by the government on March 23 in view of the increased risk of the virus.

The government has also called on lawmakers, employees and the business community to contribute to the Fund.

25% subsidy on transportation of agriculture produce

The Ministry of Agriculture and Livestock Development has announced a 25 per cent subsidy on the transportation of agricultural goods during the time of the lockdown enforced in course of prevention of coronavirus.

The Ministry will provide the subsidy through the local level while transporting milk, vegetables, fruits, fish, egg, meat and food grain, among other commodities to the nearest market center or to Kathmandu Valley.

It has also arranged for permits to farmers and producers for operating vehicles to transport their agricultural produce to the market centers for sale.

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.