KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Travel agencies conducting chartered flights against CAAN’s direction
Travel agencies have been conducting flights by chartering planes of Nepal Airlines against the direction of the Civil Aviation Authority of Nepal (CAAN).
The CAAN had put a ban on the chartered flights except those through the diplomatic missions after the travel agencies and airline companies were found charging exorbitant fares in the name of international flights.
The CAAN has warned that it would take action against those who violate its direction.
NOC puts forth process to install ERP
The state-owned Nepal Oil Corporation (NOC) has put forward the process to set up the enterprise resource planning which is expected to control fuel theft and the sale of substandard fuel.
For this project, bidding has been made public for the purchase of required software, hardware and for conducting training sessions after setting aside Rs 280 million, it has said.
It takes three years for the completion of the project. Installation of this software means to make NOC’s works and activities technology-friendly, said NOC’s director Surendra Prasad Poudel.
Rs 100 billion allocated for providing relief loan, reviving tourism sector
Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai says a fund of Rs 100 billion has been established for providing relief loan and reviving the tourism sector in the new budget.
Likewise, Rs 50 billion fund will also be managed for reviving the coronavirus-hit tourism sector.
Responding to queries as part of the Appropriation Bill at the House of Representatives on Tuesday, he said that tourist entrepreneurs can borrow loans. He also assured that tax and interest could be exempted in such cases.
He maintained that the government will also manage loans in five per cent interest to revive the tourism sector.
NEPSE resumes trading from Tuesday
The Nepal Stock Exchange (NEPSE) resumed the stock market from Tuesday as per the instruction of the Securities Board of Nepal (SEBON).
An understanding to open the share market for two hours daily (11 am to 1 pm) was reached during a discussion with stakeholders at the Board last Friday.
The share market was closed after the government announced the lockdown to prevent the spread of coronavirus on March 24.
With the decision of the board, the stock market is about to open on the 50th day.
National Public Health Laboratory receives ISO certification
The Teku-based National Public Health Laboratory has received ISO 15189:2012 certification, an internationally recognized categorization for operational excellence.
The Lab has been accredited by the ISO standards by the International Organization for Standardization (ISO), a non-governmental international organization with a membership of 164 national standards bodies.
On the occasion, Minister for Health and Population Bhanubhakta Dhakal said that it was a matter of happiness that the state-run lab has been honoured with the ISO certification at a time when the country was fighting COVID-19 pandemic.
US announces additional US$5.5 million for COVID-19 response
The US government on Tuesday announced an additional US$5.5 million in new funding to Nepal in a bid to mitigate the secondary impacts of the spread of COVID-19.
The fund announced through the US Agency for International Development (USAID) is expected to bring the US Government’s COVID-19 assistance to Nepal to a total of $7.3 million, a press statement issued by the US Embassy in Kathmandu said.
The USAID, through this assistance, will work with the Government of Nepal to address second-order impacts of the coronavirus crisis here in the country.
US Ambassador to Nepal, Randy Berry says, “Times of crisis like these are the truest test of a partnership, and we remain committed to building a more resilient, healthy, prosperous, and self-reliant Nepal during these hard times – and beyond.”
New Road tense as police clash with shopkeepers
Tension has run high after a confrontation took place between police and shopkeepers at New Road, a popular shopping center, in the capital city on Tuesday morning.
The confrontation between the shopkeepers and the security personnel occurred after the latter forced them to shut down the shops at New Road.
“Tension ran high after police officials forced the shopkeepers to close down their shops,” said Tek Bahadur Shakya, President of Nepal National Entrepreneurs Association.
According to a local, the confrontation took place after the shopkeepers did not follow the security personnel’s direction to close shops.
Hit by the prolonged lockdown, shopkeepers have been opening their shops violating lockdown since the last few days. A huge number of security personnel have been deployed at New Road, Ranjana Galli areas to preempt untoward incidents.
DoTM preparing directive to resume transport services
The Department of Transport Management (DoTM) has started making preparations to resume public transport services during the lockdown.
With the government’s policy to ease lockdown, the DoTM also is formulating a directive to bring public vehicular services into operation.
“The directive has been prepared to resume transport services adopting measures to save passengers from the coronavirus,” said Gogan Bahadur Hamal, Director General of the DoTM. Hamal said the discussion on the directive is underway.
(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.
Comment