Nepal Economic Digest (March 16, 2020) « Khabarhub
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Nepal Economic Digest (March 16, 2020)


16 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.

COVID-19 hits the aviation sector; passengers down by 60%

The spring season, the peak season for Nepal’s tourism, has already begun but still, there are no passengers. It has forced the airlines and air transport operators to slash the airfare by almost 50 percent.

“The number of tourists has gone down significantly due to the spread of coronavirus, putting the aviation sector in jeopardy,” said Yograj Kandel Sharma, spokesperson of the Airlines Operators Association Nepal.

Sharma further said that the number of air passengers has gone down by 60 percent these days after the countries directed their citizens not to travel abroad due to coronavirus.

COVID-19: NAC cuts flights to New Delhi

The national flag carrier, Nepal Airlines Corporation (NAC), has cut its flight to New Delhi of India after the demand for flights to India’s central capital noticeably went down due to the impact of coronavirus (COVID-19).

The NAC, through a press statement, said that there is a cut in the Kathmandu-Delhi-Kathmandu flight schedule to be effective from March 15, 2020.

The NAC operates two flights on this route each day and from tomorrow, only one flight will be available for this route.

“Morning flight schedule is to remain as it is while the evening flight schedule has been suspended till further notice,” the statement further adds.

Domestic airlines cut fare by 50%

The domestic airlines are now deducting the airfare by 50% in line with the slowed-down passenger flow due to the impact of the coronavirus.

The occupancy rate for the domestic flights has dropped to 60% with only 50% flight frequency, according to Yog Raj Kandel, spokesperson of the Airlines Operators Association of Nepal (AOAN).

“They are charging only minimum fare in the hope of increasing the occupancy rate and meet the break-even point,” he added.

Minister Bhatta warns of action against hoarders

Minister for Industry, Commerce and Supply, Lekhraj Bhatta, has warned of action to the hoarders.

The Minister also claimed that there is no shortage of goods in the markets. However, Minister Bhatta directed the concerned authorities to take action to Yadav Stores at Chipledhunga of Pokhara for it was selling per kg salt at Rs 25, which is an increase by Rs 5. He reached the store in the disguise of a customer.

Butwal-Palpa road to remain closed for eight hours a day

The Butwal-Palpa road section along the Siddhartha Highway is to remain closed for vehicles for eight hours a day, from 7:00 am to 9:00 am, from 12:00 noon to 3:00 pm and from 8:00 pm to 11:00 pm till March 25, in view of the road improvement works, said Road Division Office, Palpa.

During the remaining hours, the traffic remains operational. Road bends will be widened and potholes will be patched up for road safety.

Construction work of Tanahun Hydropower project affected  by coronavirus

The construction work of the Tanahun Hydropower Project has been affected due to the outbreak of pandemic coronavirus.

According to the project officials, the construction of the tunnel has been affected as Chinese workers who had gone back home to celebrate the Chinese New Year are not able to return to Nepal.

The project had hired 20 Chinese workers for the tunnel work. 15 Chinese technicians went to China to celebrate the Chinese New Year but the outbreak of the coronavirus has affected their return.

Two Chinese workers who had returned after celebrating the Chinese New Year were kept in quarantine for two weeks.

(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 : 16 March 2020 08:06 AM

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