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Nepal Economic Digest (April 09, 2020)

Khabarhub

April 9, 2020

5 MIN READ

Nepal Economic Digest (April 09, 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.

Arun III Project works resume amidst lockdown

The Arun III project’s works were halted due to the lockdown announced to prevent COVID-19 pandemic.

The construction works have resumed after the district administration permitted for the same on the condition that adequate safety measures against coronavirus would be maintained and no new workers would be hired, said the Chief District Officer, Jeevan Prasad Dulal.

Some 1,500 workers available at the project have started the works.

NRB shall address corona-affected business: Governor Adhikari

Newly-appointed Governor of Nepal Rastra Bank, Maha Prasad Adhikari has expressed his readiness to cooperate with the private sector as well and address the adverse impact caused by coronavirus.

He promised to work hard to help the economy overcome this adverse condition. “I am acquainted with the hardship our economy has to go through due to the corona crisis, therefore, I will do my best to rejuvenate the business crippled by the pandemic at the earliest,” he added.

Ministry of Culture and Tourism halts budget of related departments

The Ministry of Culture, Tourism and Civil Aviation (MoCTCA) has suspended the budget of all departments, boards, authorities, committees and commissions that have been working under the ministry’s supervision.

Gopi Chandra Bhandari, deputy secretary at MoCTCA informed that they have halted the budget allocated under 14 various titles for the bodies working under the ministry.

Life insurance of Rs 5 million for COVID-19 frontline workers

The Province-1 government has decided to provide an insurance coverage worth Rs. 5 million for health workers, security personnel, ambulance drivers and any staffer working at the local level in the current fight against the COVID-19 pandemic.

In case of death of any such frontline worker, the next to kin will receive the insurance amount of Rs. 5 million.

State-owned FMTC runs online shopping in capital

The state-owned Food Management and Trading Company has started online shopping from Wednesday, according to the secretary at the Ministry of Industry, Commerce and Supplies Baikuntha Aryal.

This service is currently available inside ring road in Kathmandu valley but the service will be expanded to other areas soon.

Anyone can place the order through the official website of the FMTC and no delivery fee is charged during this lockdown period, however, an order of a minimum of Rs 2000 will only be received.

NA writes to five countries to procure health supplies

Nepali Army (NA) has sent letters to five countries seeking the approval to procure medical supplies required by the country.

The NA sent letters to China, South Korea, Singapore, Israel, and India. It has written to the countries on the basis of the list of supplies prepared by the COVID-19 Crisis Management Center (CCMC), NA Spokesperson Bigyan Dev Pandey said.

The letters have already been forwarded to the respective countries through the Ministry of Foreign Affairs, he said.

Jhapa cooperatives assist Rs 15 million for poor

Several Jhapa-based cooperatives have joined hands to assist Rs 15 million to provide relief materials to the poor families amid the nationwide lockdown to control the spread of coronavirus.

Cooperatives supporting during this crisis are Karnali Cooperatives, Birtamod (800 thousand), Nepal Multi-Purpose Cooperatives Mechinagar (Rs 1.7 million), Simrik Cooperatives, Birtamod (Rs 800 thousand), Hamro Nepali Savings and Credit Ltd (Rs 400 thousand), and Mechi Cooperatives (Rs 200 thousand).

The cooperatives donated the amount to the relief fund set up at the State government.

(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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