Nepal Economic Digest (March 18, 2020) « Khabarhub
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Nepal Economic Digest (March 18, 2020)

18 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.

Airfare goes down by 50% due to COVID19

The airfare has been slashed by 50 percent after the number of tourists went down in the country due to coronavirus. In the last 14 days, 33,783 foreigners came to visit Nepal via flights while 24,190 people returned home during the period. Domestic airline companies have reduced airfare by 50 percent in a bid to attract customers after the number of tourists went down by 90 percent after the coronavirus broke out in China, said the Department.

Border town in Ilam deserted after border sealed to prevent COVID-19

The border town of Pashupatinagar used to be a bustling place until the fear of the COVID-19 pandemic gripped the world.

Now, this town which is a transit point on the border with India has turned into a sleepy and quiet place. Tourists have stopped visiting this town. It is a favorite place of a visit, especially the Bengali visitors.

The shops in the town have closed.

Not only this town, but other border towns in Ilam also have become deserted after the West Bengal state government of India sealed the border to prevent the spread of COVID-19.

Nepal refuses entry to 36 foreigners over COVID-19 fear

The immigration office at the Tribhuvan International Airport (TIA) has refused entry to 36 foreigners from March 10-16.

They were denied entry for failing to produce health certificates mentioning that they have not been infected with COVID-19.

The government has adopted a policy of granting entry to Nepal once they produce the coronavirus-free certificates to the Nepali authorities at TIA.

India to fund NRs 107.01 million for school buildings to Nepal

The Embassy of India and the Ministry of Federal Affairs and General Administration signed two Memorandum of Understandings (MoUs), one with the Mahakali Municipality, Darchula and second with the Mukhiyapatti Musharniya Rural Municipality, Dhanusha, for the construction of two new school buildings.

These two school buildings will be built under the India-Nepal Development Partnership program at a total estimated cost of NRs 73.96 million for use by Shree Malikarjun Higher Secondary School (NR 29.64 million) at Dhap in Darchula District and Baidyanath Devnarayan Public Higher Secondary School (NRs. 44.32 million) at Tulsiyahi in Dhanusha district respectively.

Lalitpur Metropolitan City begins manufacturing sanitizer

Lalitpur Metropolitan City (LMC) has started manufacturing sanitizer in collaboration with the Nepal Academy of Science and Technology (NAST).

The LMC has said it is manufacturing sanitizer as per the standards set by the WHO by using local alcohol as raw materials.

“The LMC is training six medical officials including a representative on producing sanitizer by using local hooch,” said Raju Maharjan, spokesperson of the LMC. The six-day training began yesterday.

Malaysian company to invest in Myagdi hydro project

Malaysian Serba Dinamik Company will be investing in the 57.3-megawatt Myagdi Khola Hydroelectricity Project to be constructed in Dhaulagiri Rural Municipality.

The PPA agreement for the construction was held in August in 2019. According to the PPA agreement, the project will start generating power in five years.

As per the agreement, Nepal Electricity Authority will purchase per unit power at Rs 8.40 in winter and Rs 4.80 in rainy season.

NOC slashes petroleum price by Rs 2 per liter

The Nepal Oil Corporation (NOC) has revised the price of petrol, diesel and kerosene and cut down their price by Rs 2 per liter effective from Monday midnight.

According to the NOC, with the fresh slash in the prices of the petroleum products, petrol will cost Rs 106 per liter while diesel and kerosene each have been fixed at Rs 95 per liter.

(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 : 18 March 2020 08:12 AM

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