KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
One held for black marketeering hand sanitizers
Police have arrested a man on the charge of black-marketeering of surgical goods including hand sanitizers in the capital.
Acting on a tip-off, a team from Metropolitan Police Circle, New Road arrested Anil Gupta of Priya Traders for selling masks and hand sanitizers at high prices.
Similarly, police have seized 814 sets of hand sanitizers. Preparations are underway to file a case against Gupta under the Market Protection Act 2063, said police.
NT strengthens mobile data system
Nepal Telecom (NT) has further strengthened its mobile data service by updating the GSM mobile service system. As the company said, it has installed a new PCF system and its old customers have been migrated to an upgraded mechanism.
According to NC spokesperson Rajesh Joshi, the capacity of GSM technology under the PCRF system was not sufficient to operate wireless data service effectively so the service was strengthened by installing the new PCRF system.
”Now users have access to high-speed data service,” he said. Users will receive an alert message if the 80 percent of data package amount gets finished amidst the use of data service, it is said.
Tourism entrepreneurs ask for 50% waiver in taxes
Due to a slowdown in tourism as a result of the COVID-19, tourism entrepreneurs have asked the government to waive 50% of taxes.
The tourism entrepreneurs issued a statement drawing the government’s attention to protect the investment in the tourism sector. They have also asked the government to create an environment to keep the businesses running.
They have asked the government to announce the tourism industry as a troubled industry and prepare relief packages accordingly.
Coronavirus panic-buying leads to a shortage of LPG cylinders
Kathmandu Valley has witnessed a shortage of Liquefied Petroleum Gas (LPG) cylinders after consumers started hoarding cylinders over a fear of a possible outbreak of COVID-19.
For the past few days, people can be seen queuing at depots to purchase cooking gas cylinders. According to the Nepal Oil Corporation (NOC), people of medium and high classes have hoarded up to 10 cylinders creating an artificial shortage in the market.
NOC has said that 45,000 metric tons LGP is being imported from this month to meet the increased demand.
No need to stop international flights at the moment: CAAN
The Civil Aviation Authority of Nepal (CAAN) has said it was not necessary to stop international flights in the country at the moment merely because of the fear of the spread of coronavirus.
Nepal has to follow the global standards set by the International Civil Aviation Organization (ICAO) and the World Health Organization (WHO).
However, that is not obligatory to a sovereign country. Nepal can take appropriate decisions on its own as and when needed. Asked whether CAAN has reached the decision to suspend international flights considering the possible risk of spread of coronavirus, director-general of the civil aviation regulatory body, Rajan Pokharel said it would not be appropriate to stop the international flights in a hurry taking into account humanitarian sensitivity and the global situation.
No shortage of salt, stock enough for 10 months: STC
The Salt Trading Corporation (STC) has clarified that there is no shortage of daily essentials including salt and sugar.
The corporation has said that there is enough stock of daily essentials to meet the demands for 10 months. “We currently have 158,500 metric tons of salt in stock. It will meet the country’s demands for 10 months,” Divisional Chief of STC Brijesh Kumar Jha said. Rumors had circulated that there is a shortage of daily essentials including salt and sugar as Nepal prepares for a possible outbreak of coronavirus.
Support from Japan to cricket stadium
The Galkot Sports Club, established by residents of Galkot in Baglung and now living and working in Japan, has donated to the Gautam Buddha International Cricket Stadium which is under-construction in Chitwan.
The club donated Rs. 405,000 to Dhurmus Suntali Foundation that is building the Stadium. The cash was handed over through office-bearers of the Galkot Society in Chitwan, according to the Club Chair Laxman Karki. Prior to this, the Club had donated Rs. 100,000 in cash two years ago.
Dharan hosts commercial zip flyer adventure in Province-1
Commercial operation of a zip flyer has begun in State 1. Chief Minister of State-1, Sherdhan Rai inaugurated the 650-meter-long pioneer zip flyer project.
The zip flyer starts from the takeoff station in Bhedetar and runs up to the landing station of Debhithan in Dharan-4.
The Worldwide Nepal Group Private Limited, which owns the project, said that the project was conceptualized some two years ago and has been constructed in around four months. Bibas Bhandari, the proprietor of the zip flyer, said they hired expert technicians from Austria and procured high-quality equipment from the USA to operate the service.
(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.
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