Nepal Economic Digest (March 05, 2020) « Khabarhub
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Nepal Economic Digest (March 05, 2020)

05 March 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.

NRB turns flexible on home loans for first-time home buyers

The central bank of Nepal, Nepal Rastra Bank (NRB) has made the lending limit flexible for first-time homebuyers giving respite to the manufacturers of construction materials that have been running in under capacity.

Under the revised Monetary Policy for 2019/20, the central bank has raised the upper limit of debt service to gross income ratio (DTI), for the first time purchaser of residential home at 60% from the previous 50%.

It means that the individual having income of Rs 100,000 per month, can receive home loan to pay the monthly installment of up to Rs 60,000.

Coronavirus: Gatherings, meetings prohibited

Various programs and events scheduled to be held in the district have been postponed in wake of the risk of infection of the Coronavirus or COVID-19.

Accordingly, the Visit Nepal Year 2020, unification trail trek event scheduled to be held on March 7 has been postponed. It was aimed at promoting the routes used during the unification of modern Nepal.

Likewise, the cottage industry festival has been postponed until March 15. An emergency meeting of the district disaster management committee took the decision.

It has also requested the local administration and all local levels to avoid any fair, festivals and other functions that involve gathering of large numbers of people until further notice, said the district coordination committee chair Uddav KC.

Equipment worth Rs 3 million for hospital

The Lions Club International has donated essential medical equipment and appliances worth 3 million rupees to the District Hospital, Faplu.

Former Governor of Lions Club International Ananta Bhetwal handed over the equipment to the hospital.

The support was made possible at the initiative of State assembly member and NCP leader Buddhi Kumar Rajbhandari.

On the occasion, Faplu hospital development committee chair Bir Kumar Rai expressed the confidence that the new equipment will help the district to bring down maternal and child mortality rate.

Banepa hotels, eateries receive quality ratings

Ratings of hotels, restaurants and party palaces have been completed by The Food, Technology and Quality Control Office, Dhulikhel.

The ratings were given based on food quality and hygiene. Hotels and restaurants that were rated as excellent were given green stickers, and the ones that were rated average were given yellow stickers.

NTA launches apps to test call quality, Internet speed

Nepal Telecommunications Authority (NTA) launched two new mobile applications – Call Test and Speed Test – that allow consumers to check their call quality and Internet speed.

According to NTA Spokesperson Min Prasad Aryal both the apps will be available on Android and iOS platforms within a few days.

Consumers have long been complaining about the quality of voice call and Internet speed, among others. NTA officials say that the apps have been developed and launched to address concerns raised by the consumers.

Now, consumers can check the quality of their calls and Internet speed from their phone itself, they added.

Aviation authority suggests stringent travel restrictions

Nepal’s civil aviation body has recommended the government of Nepal to implement stringent travel restrictions in an effort to contain the coronavirus outbreak.

For the time being, nationals of third countries entering Nepal overland through India shall be issued visas after a health check-up if they enter the country only from Kakarbhitta, Jogbani, Raxaul, Sunauli, Nepalgunj and Gaddachauki.

Nepali nationals directly coming from countries affected by the virus and at high risk of Covid-19 and from third countries transiting via those countries will have to undergo mandatory home quarantine for 14 days.

Japan provides assistance for child health project in Banke

The Ambassador of Japan to Nepal, Saigo Masamichi has signed a grant contract for approximately NRs 50 million with Onishi Yuka, Program Manager of ADRA Japan for the implementation of a project to improve newborns and child health in Banke district.

The support has been made under Japan’s grant assistance for the Japanese NGO projects scheme for FY 2019, a statement issued by the Embassy of Japan in Kathmandu said.

Australians warned not to fund Nepal’s orphanages

Australians are being warned not to volunteer or fund orphanages in Nepal. It’s estimated that more than 80 percent of Nepal’s orphans are not orphans at all.

The children are trafficked from remote villages to lure donations from foreigners. The Australians were fooled into thinking they were supporting Nepalese orphans when, in fact, the children were not orphans at all.

(Compiled and prepared by Swastik Aryal and 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. 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.

Publish Date : 05 March 2020 08:14 AM

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