Nepal Economic Digest (July 12, 2020)

Khabarhub

July 12, 2020

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Nepal Economic Digest (July 12, 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.

EU provides Rs 3.17 million grant for multi-sector nutrition plan II

The European Union (EU) has provided approximately Rs 3.17 billion grant for the Multi-sector Nutrition Plan II to Nepal.

A bilateral assistance agreement in this regard was signed between Finance Secretary Shishir Kumar Dhungana and Officiating Director of the European Union at a function at Finance Ministry. The project begun in 2018 runs till 2022.

NRB instructs banks, financial institutions to open on holidays

The Nepal Rastra Bank (NRB) has instructed banks and financial institutions to remain open on holidays, including Saturday effective from today.

This has been aimed at collecting revenues as the current fiscal year 2019/20 is about to end, NRB’s Executive Director Dev Kumar Dhakal said.

As instructed, arrangements should be made for Nepal Clearing House Limited, revenue collection branches, counters and clearing counters of banks and financial institutions to open on also holidays.

NOC hikes petro-price by Rs 1 per liter

Nepal Oil Corporation (NOC) has increased the prices of petroleum products, citing the price-hike in the international market.

With the new tarrif, the price of diesel, petrol and kerosene has gone up by Rs 1 per liter effective from Saturday. Now the price of petrol is Rs 102, diesel Rs 88 and kerosene Rs 88 per liter, said Spokesperson of NOC Binitmani Upadhyaya.

(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.

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