Nepal Economic Digest (March 15, 2020) « Khabarhub
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Nepal Economic Digest (March 15, 2020)

15 March 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.

Market fluctuations due to coronavirus: Finance Minister
Minister for Finance, Dr Yuba Raj Khatiwada on Wednesday blamed the outbreak of coronavirus for the recent unexpected fluctuations in the country’s share market.

He has said that the shares are mainly bought considering the present and future financial status of a certain company adding that an individual will not affect the share market.

He was responding to lawmakers’ claim that the recent market changes were caused by Minister Dr Khatiwada’s what they said ‘unpopular’ image.

Business seeking loans of up to Rs 5 million don’t need to submit tax certificate
Good news for businessmen as business firms can now get loans of up to Rs 5 million from banks without submitting a tax clearance certificate.

The Nepal Rastra Bank adopted this flexible policy by revising its unified directives. Also, the central bank has turned flexible on the requirement for tax clearance certificates for loans of Rs 5 million-Rs 20 million to be taken by the businesses related to agriculture, tourism and small and medium enterprises.

Govt suspends labor permits indefinitely
The government has suspended the labor approval for foreign employment for an indefinite period bearing in mind the coronavirus (COVID-19) pandemic.

The decision came into effect from today. Foreign Employment Office, Tahachal’s Umesh Basnet said the labor approval has been suspended until further notice.

Nepal received intense pressure for not sending workers to South Korea, Malaysia, the United Arab Emirates, Oman, Bahrain, and Kuwait remaining as the major labor destinations for Nepalis following the COVID-19 outbreak there.

COVID-19 impact: Lawmakers call for closing educational institutions
Lawmakers have suggested making required preparation at institutions and places where many people assemble as a precaution against the possible infection of COVID-19.

Lawmakers Renu Kumari Yadav and Bhimsen Das Pradhan called for taking immediate precautionary measures against COVID-19 at places where a large number of people gather. They also called for closing educational institutions at the earliest.

(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.

Publish Date : 15 March 2020 08:02 AM

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