Nepal Economic Digest (Feb. 19, 2020) « Khabarhub
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Nepal Economic Digest (Feb. 19, 2020)

19 February 2020  

Time taken to read : 6 Minute

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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.

Jumla exports 61 types of herbs

Jumla district has exported 183,131 kilograms of herbs of different 61 types in the first six months of the current fiscal year. According to the District Forest Division Office Ranger Khadka Mahatale, revenue around Rs 1.66 million was generated from the export of herbs and herbal products.

Revenue Rs 490,695 was generated from woods and 183 community forests have come into operation after getting registered with the office, the division office informed.

Only eight local levels left to have commercial bank: NRB

The government is nearing its goal of reaching commercial banks to every local level. Only eight out of 753 local levels are left without service of a commercial bank as per the recent update on citizen’s access to banks made by the Nepal Rastra Bank.

The central bank said only one out of 137 local levels was to have the commercial bank. Similarly, the State 2, Gandaki State and Karnali State have one local level each and State 3 two local levels without a commercial bank. State 5 has ensured banks at all 109 local levels, while the Sudurpaschim has two local levels left.

Dhankuta farmers falling in love with avocado

Mayor of Dhankuta Municipality Chintan Tamang has said the orange production in the district has depleted due to several reasons such as climate change and the likes. He said they have sought experts’ advice to replace the possible loss.

Now that the municipality has imported 4,000 avocado saplings and distributed to local farmers. Later on, the municipality established its own avocado nursery and started distributing avocado seedlings.

The Municipality is gearing up to produce cosmetic items, juice, alcohol and lots more profitable products with avocado as raw material. ”We are preparing an area of 50 ropanis of land for the future factory of avocado,” said Mayor Chintan Tamang.

Govt to provide electricity to every household

Responding to queries raised by the parliamentarians during the meeting of the House of Representatives, Minister for Energy Barsha Man Pun said that 88% of households are currently connected to the national electricity grid.

He also said that the government has already removed 30,000 wooden utility poles. According to him, there are currently 400,000 wooden utility poles across the country.

“We are working to remove more wooden utility poles in coordination with provincial and local governments in the days to come,” Minister Pun said.

State Minister Dugad urges to invest in Nepal’s agro, tourism

Minister of State for Industry, Commerce and Supplies, Motilal Dugad, has met with Minister for Energy and Industry of the United Arab Emirates (UAE), Suhail Mohamed Faraj Al Muazrouei.

State Minister Dugad left here for Dubai on Saturday in preparation for the Expo-2020 going to be organized for six months from coming October 20 to April 10, 2021.

The main motto of the expo is ‘Connecting Minds, Creating the Future’. Expo 2020 is a World Expo to be hosted by Dubai in the United Arab Emirates.

During the meeting, they discussed various issues including bilateral relations as well as investment in the development of hydropower, renewable energy, and tourism sector.

Paying there was the immense potentiality of investment in agriculture, tourism, hydropower and energy sectors of Nepal, he called the UAE government to invest in Nepal.

Bangladesh opens Saidpur Airport for Nepal

Nepal can now use the Saidpur Airport, based in Nilphamari of Bangladesh. The neighboring country had made a proposal to use the airport in order to enhance trade and connectivity between the two countries, Foreign Minister AK Abdul Momen has said after holding a meeting with his Nepali counterpart Pradeep Kumar Gyawali in Dhaka today.

Gyawali arrived in Dhaka on Monday following an invitation from Bangladesh. “We said yes. Now a technical committee will see what type of flights can land and take off from here,” Momen told reporters after the meeting held at the state guest house Meghna.

Let us pass MCC in national interests: Dahal

Chairman of Nepal Communist Party Pushpa Kamal Dahal has said a huge investment is being made to weaken Nepal’s communist parties. He claimed that communist unity in the country was an outcome of long debate and discussion.

Former Prime Minister Dahal asserted that the Millennium Challenge Corporation (MCC) compact would be endorsed keeping national interest and diplomatic aspects in the center.

He informed the task force’s report would be discussed in the party’s secretariat and passed in the parliament in a way that it would not affect our sovereignty, national integrity and independence.

(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.

Publish Date : 19 February 2020 11:46 AM

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