Nepal Economic Digest (May 21, 2020)


May 21, 2020


Nepal Economic Digest (May 21, 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.

Medicines worth Rs 3 billion imported since lockdown

Nepal, in its 56th day of lockdown, has recorded import of raw materials of medicines, and ready-made medicine worth around Rs 3 billion.

The federal government ordered a nationwide lockdown since March 24 to prevent and control COVID-19.

During this course, as per the statistics of the Ministry of Industry, Commerce, and Supplies, the raw materials worth Rs 2.71 billion have been imported since the lockdown while readymade drugs worth Rs 610 million was procured.

Spokesperson at the Ministry, Urmila KC, shared that there has been an increase in the import of food items since the lockdown apart from the drugs.

Government to provide jobs to 2.6 million people

Minister for Energy, Water Resources and Irrigation, Barshaman Pun, has urged the industrialists and businessmen to operate industries and resume construction works by paying attention to health safety. “Nobody knows how long the pandemic will last and we have to be used to seek livelihood amidst the crisis,” he said.

Stating it is projected that one million Nepalis in foreign employment would return home after losing their jobs with the extension of the pandemic, Energy Minister Pun said the government was carrying out works for managing the 2.6 million workforce, including the 1.1 million foreign returnee workers and the 500 thousand workforce that come every year in the domestic labor market.

He said the agriculture sector can employ a large chunk of this labor force and the attention of many people has gone to this sector after the coronavirus pandemic.

Bagmati State Assembly’s budget session on May 25

Chief of the Bagmati State, Bishnu Prasai, has summoned the budget session of the State Assembly on May 25. State Chief Prasai has also called the Sixth session of the Assembly at 2 pm on May 25 at the State government’s recommendation, according to law officer at the State Chief’s secretariat Rajesh Kumar Tamang.

Meanwhile, Chief of State-1, Somnath Adhikari Pyasi has summoned the Sixth Session of the State Assembly at 2 pm on May 27. This is also the budget session of the Assembly.

Tourism entrepreneurs demand programs to salvage tourism sector

Tourism organizations and entrepreneurs have demanded with the government to allocate budget to salvage the tourism sector, stating that the tourism sector in the country was worst hit by the COVID-19.

Issuing a press statement today, various 12 tourism organizations and tourism entrepreneurs urged the government to address their demands through the budget for the next fiscal year 2020/21.

They have expressed their concern that due to COVID-19 and its fallout, investments worth trillions would be at loss and it would push the tourism sector on the brink of collapse.

U.S. Embassy donates PPE to Nepal Armed Force Hospital

The U.S Embassy Nepal team has donated personal protective equipment (PPE) to Nepal Armed Police Headhunter Hospital — a government Nepal COVID-19 treatment facility in Kathmandu.

The team from the Embassy handed over to equipment to the official of the hospital. The US Embassy twitted: “PPEs are crucial in fighting COVID-19 in Nepal. We continue to look for a way to defeat the virus together.”

(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.

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