KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Budhigandaki Hydropower Project distributes Rs 28 billion compensation
The national pride project, Budhigandaki Hydropower Project, has distributed a total of Rs 28.18 billion to acquire private land. According to the project officials, the amount for the acquisition of 45,777 ropani of land in Gorkha and Dhading districts belonging to 21,159 households has been released.
Project Chief of Reconstruction and Resettlement Unit, Krishna Bahadur Karki said that Rs 14.79 billion was released to 7,831 landowners for 23,331 ropanis of land. The rest of the amount was dispersed in the Dhading district.
First privately-run hydropower starts operation
With the maiden operation of the Upper Khorunga Rivulet Small Hydroelectric Project on Thursday, the first privately-run hydroelectric project has been materialized in Tehrathum, the eastern hilly district of Nepal. The 7.5-megawatt project of around Rs. 1.37 billion has started its operation from its powerhouse at Menchchyayem Rural Municipality-6, Kholakhet of Tehrathum.
The power generated from this project has been linked with the national grid through a sub-station of Nepal Electricity Authority located at Jirikhimti Bazar of Tehrathum. It had started the project construction since 30 January 2018 and completed within two years as specified in the PPA.
According to the company, it will generate Rs. 250 million per year by selling its power.
Formulate new policies to regulate Pathao and Tootle: High Court
High Court Patan has issued an order to bring Pathao and Tootle services into operation by formulating new policies. A joint bench of Judges Shreeman Kumar Gautam and Mina Gautam Sedhai issued the order to resume operation of ride-sharing services of Pathao and Tootle only after formulating new policies.
Akhil Nepal Majdoor Sangh, Lalitpur on December 8 last year had filed a case at High Court Patan against Pathao and Tootle, mentioning the Ministry of Physical Infrastructure and Transport and Department of Transport as defendants.
Melamchi project gets new mid-July deadline
The government on Thursday set yet another deadline of mid-July 2020 to bring Melamchi waters to Kathmandu Valley. The Melamchi Water Supply Project (MWSP), which was conceived some three decades ago as a solution to severe short supply of drinking water in Kathmandu Valley, still remains incomplete.
Minister for Water Supply and Sanitation, Bina Magar, announced the new deadline at a program organized in Kathmandu on Thursday to issue a whitepaper report on the project. As per the report, 95.12% of the physical construction of the project has been completed.
The project has spent Rs 2.81 billion out of the earmarked costs of Rs 3.13 billion.
Locals obstruct construction on Karnali corridor
Road construction on the Kharpu–Simkot section of the Karnali Corridor has stopped due to opposition by the locals. Residents of Simkot Rural Municipality – 5 have accused the Hilsa Simkot Road Project of preparing a baseless detailed project report (DPR) and hiding it from the people.
“Neither has the project consulted with the locals nor has it come to study the facts on the ground,” a local Tirth Raj Rokaya said, “They sat in a room, prepared the DPR behind closed doors and are moving forward without giving us any information.”
(Compiled and prepared by Swastik Aryal, Akash Shrestha, Nitish Lal Shrestha, Diana Zulkifli)
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.