KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Ncell clears all outstanding dues
Ncell, a private telecommunications service provider, on Sunday has cleared all the amounts that it had to pay to the government for the capital gains tax.
Ncell paid Rs 14.33 billion to the Large Taxpayers Office under the Inland Revenue Depart as its last instalment. Following a dispute between Ncell and the government, the Supreme Court (SC) had asked the company to pay Rs 23 billion and 435.6 million in the capital gains tax.
Nepal’s economic growth rate to slump to 1.5-2.8 percent: World Bank
The World Bank has estimated that Nepal’s economic growth rate will shrink to 1.5 to 2.8 percent this year due to the coronavirus pandemic.
Some six months ago, the World Bank estimated Nepal’s economy to grow by 6.5 percent. The new forecast comes in the wake of the impact created by the outbreak of a pandemic.
A prolonged outbreak of COVID-19 would impact growth significantly with a further deceleration or contraction in services and industrial production.
24 trucks carrying coal arrives in Bhaktapur amid lockdown
Some 24 trucks loaded with coal arrived at several brick kilns of Bhaktapur amid a nationwide lockdown. The trucks were transporting coal and workers from India to the brick kilns of Changu Narayan municipality in Bhaktapur.
The brick kilns operators are also allegedly flouting the standards set by the government and are allowing as many as 150 workers to work together.
Fully-filled cooking gas cylinders available from yesterday
Distribution of fully-filled Liquefied Petroleum Gas (LPG) cylinders has started from Sunday. The Nepal Oil Corporation (NOC) stated that LPG companies have started selling fully-filled gas cylinders weighing 14.2 kilograms from Sunday.
Chairperson of Nepal LP Gas Industry Association Gokul Bhandari said that gas depots have been fully-filled after the demand for the cooking gas cylinders declined due to lockdown.
Food shortage in northern Humla after border with Tibet closed
Namkha Rural Municipality, a remote rural municipality located in northern Humla district, is reeling under a food shortage.
The shortage of daily essentials is looming large in the rural municipality that shares borders with Tibet after the border point was closed due to the coronavirus pandemic. Local Dorje Lama said that they have been hit hard by the closure of the entry point as they are dependent on Tibet for the supply of daily essentials.
Nepal Army to procure medical supplies from India, China
Neighboring countries India and China have informed the Nepal Army (NA) Headquarters that they can provide medical supplies to Nepal. India said it can provide 60 types of medicines.
It said it won’t be able to provide medical equipment. China has communicated that it can provide both medicines and medical equipment, media reports said on Sunday.
NA is currently preparing a list to procure medical supplies from the countries, according to sources.
(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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