Nepal Economic Digest (April 19, 2020) « Khabarhub
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Nepal Economic Digest (April 19, 2020)

19 April 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.

Lockdown turns green tea leaves into waste in Jhapa

National Tea and Coffee Development Board’s tea officer Indra Prasad Adhikari said lockdown imposed during a tea plucking season caused a huge loss to the farmers.

The tea leaves have grown up within the garden. ”The loss is equivalent to Rs 120 million if Rs 20 is put for per kilo of tea leaves.” Similarly, 100 million kilos of tea leaves could not be harvested in other hilly districts such as Ilam, Panchthar, and Dhankuta.

But the loss was far less than in Jhapa as the harvest in these districts had begun 10 days before the lockdown. In Jhapa, tea is cultivated in 12 hectares of land.

China says cannot provide excavators to Nepal over Covid-19

The China government has informed that it is not able to provide excavators to Nepal this year due to Covid-19.

Sending a letter to the Ministry of General Administration, the Consulate General of Nepal in Tibet informed that the China government has canceled its foreign aid meant for Nepal.

Earlier, the China government had pledged to offer excavators each to 14 hilly districts boarding with China under its foreign aid program.

President’s Office contributes Rs 95 million to state coffers

The Office of the President has contributed Rs 95 million to the State reserves, curtailing its budget allocated for various headings for the current fiscal year 2076/77 BS.

The fund will go to the reserves in view of the special situation caused by the global pandemic of COVID-19, said Assistant Spokesperson at President’s Office, Keshav Prasad Ghimire in a press release on Friday.

Fuel import via pipeline halted amid storage constraint

The government has stopped fuel import via the Amlekhgunj-Motihari oil pipeline owing to storage constraints as fuel demand is minimal due to the ongoing nationwide lockdown.

NOC informed that fuel import via pipeline would resume as soon as the vehicular movement is normalized.

(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’s popular news portal — have joined hands to disseminate news from Nepal in the form of Economic Digest.

Publish Date : 19 April 2020 08:36 AM

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