KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Gold price increases by Rs 500 per tola
The gold price increased by Rs 500 per tola (11.664 grams) in the domestic market on the first trading day of the week on Sunday. The precious yellow metal is being treated at Rs 76,500 per tola today.
It was priced at Rs 76,000 per tola on Friday. Likewise, silver is being priced at Rs 895 per tola today.
18 petrol pumps to be relocated
The government is set to relocate as many as 18 petrol pumps located on the roadside as part of road improvement and traffic management programs. The Office of the Prime Minister and the Council of Ministers (OPMCM) has directed the Metropolitan Traffic Police Division in writing to this effect.
According to the plan, the six petrol pumps in Lalitpur and 12 in Kathmandu will be relocated. According to the Director of Nepal Oil Corporation (NOC) Birendra Goit, Jayanti Petrol Pump Thapathali, Kanak Petrol Pump Kalimati, Thuku Petrol Pump Balaju, Sajha Petrol Pump Jawalakhel, are among those to be relocated.
Ncell submits plan to clear dues in five months
Nepal’s privately-owned telecom company, Ncell is learned to have submitted a plan to the Large Taxpayers’ Office in a bid to clear all its dues within the next five months. The company had in December last year made a partial payment of Rs 4.5 billion the Large Taxpayers’ Office. Ncell now has expressed the commitment to clear the dues related to outstanding capital gain tax by May. It has outstanding dues of around Rs 22.44 billion, reports said. The Large Taxpayers’ Office last year had issued a notice in the name of Ncell instructing to clear all dues after the Supreme Court (SC) in November 2019 said it had to pay over 21 billion.
MCC Compact can be amended but should be endorsed: Dr Koirala
Nepali Congress (NC) leader Dr Shekhar Koirala has emphasized the need to endorse the Millennium Challenge Corporation (MCC) Compact signed with the US government.
Speaking to journalists in Butwal, Dr Koirala said the government needs to amend the deal if there are any objectionable clauses in it. He reiterated that the parliament must endorse the MCC Compact as it would bring huge grant amount to Nepal.
Koirala’s remarks come at a time when the central members of the ruling Nepal Communist Party (NCP) are divided about endorsing the deal.
Pokhara hoteliers promote Gandaki Province overseas
Paschimanchal Hotel Association Pokhara (PHAP) has carried out promotions in Indian cities close to the Nepali border and further plans to promote the province in Kolkata and Bangladesh.
PHAP is also planning the promotion of the Gandaki Province in gulf countries which have easy access to Nepal. PHAP has plans to promote in gulf countries like Dubai and Qatar. According to Sajan Shakya, general secretary of PHAP, ‘Jau Hai Pokhara’ and ‘Chaliye Pokhara’ (Let’s go to Pokhara) campaigns have created a positive impact in the field of tourism.
The branding of Pokhara will additionally help in the arrival of tourists.
Sugarcane farmers plan all-out protest to get their money
Sugarcane farmers have decided to launch an all-out protest after the deadline that was provided to sugar mills to clear their overdue payments were not executed.
The struggle committee decided to continue their on-going protest in Sarlahi to create hype for the mass protest scheduled for March 17 in Kathmandu.
Sugarcane farmers have not received more than Rs800 million from sugar mills for their crops and Rs1 billion in government subsidies. They started their second stage of protests after the government failed to express their grievances.
Now, the committee plans to bring not only the sugarcane farmers who have not been paid but other farmers as well to obtain a long-term solution. The struggle committee has planned a series of protest programs to put pressure on non-paying sugar mills to make their payments.
(Compiled and prepared by Swastik Aryal, Akash Shrestha, Nitish Lal Shrestha, Diana Zulkifli)
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.
Comment