KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Farmers hit as black cardamom gathers dust in godown
The black cardamom, popularly known as alainchi in Nepal, has gathered dust in the warehouse due to coronavirus-induced lockdown.
The cardamom produced last year has not been sold yet. The transaction has come to a halt due to the prolonged lockdown.
Alainchi traders have not been able to purchase black cardamom and export to India due to lockdown. “The condition is not favorable for cardamom transactions.
A large amount of alainchi is gathering dust in the godown of farmers and entrepreneurs,” said Narendra Adhikari, Chairman of Federation of Alinchi Entrepreneurs’ Association of Nepal.
Farmers are bearing a great loss since they have not been able to sell their cardamom produced last year when the new production is beginning from mid-August.
PM Employment program creates 127 jobs in Khotang
With the beginning of the Prime Minister Employment Program, a total of 127 youths have been provided with jobs in Rawabensi Rural Municipality in Khotang district.
Under the program, people below the poverty line and unemployed for long or their family members were selected to help their livelihood.
Chair of the rural municipality, Leela Nath Niraula, said that each youth would be given Rs 517 per day and an employment users’ committee has been formed to mobilize the youths. “With jobs at home, the locals are elated,” Niraula said.
The youth are asked to construct the drainage, maintain the ward offices and health posts, paint the school buildings, make school gardens and the like for the proper utilization of Rs 2 million budget.
Consumers suffer because of slow work progress to enact e-commerce laws
The scope of e-commerce has been expanding with the ongoing threat of COVID-19, but the delay in the enforcement of related laws has left consumers in a miserable state, leaving no ground for them to follow and win a legal battle against any misconduct by the sellers.
Approving the national strategy for e-commerce last June, the Cabinet had given the Ministry of Industry, Commerce and Supplies one year to draft the guidelines and regulations for the e-commerce sector.
The strategy has allowed websites to be registered as e-commerce businesses under the Company Act. Similarly, it has also provisioned for a refund and return for goods purchased online.
But as there are no specific laws to regulate the e-commerce sector, there are no proper guidelines to track the online traders, to penalize the unscrupulous traders who cheat the consumers and to compensate those who have suffered.
(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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