Nepal Economic Digest (Feb. 24, 2020)


February 24, 2020


Nepal Economic Digest (Feb. 24, 2020)
  • 1

KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.

Finance Minister warns of action against insurance companies not paying customers

Finance Minister Dr Yubaraj Khatiwada on Sunday warned of stringent action against insurance companies failing to pay compensation to customers on time. Minister Khatiwada also urged insurance companies to reach out to small companies as well rather than focusing their businesses in big companies.

He maintained that the government has recently introduced a health insurance policy for financially weak citizens with free premium amounting to Rs 1,00,000.

Hilsa hotels on verge of closure due to coronavirus epidemic

Hotels in Hilsa of the HUmla district are on the verge of closure following a sharp fall in the number of tourists due to an outbreak of coronavirus epidemic in China.

Hilsa is a major destination for tourists visiting Kailash Mansarovar, a major pilgrimage of Hindus. Local hoteliers have been worried that there will be no flow of tourists even with the beginning of the touristic season hitting their business hard.

Customers snap up mushroom as price plunges to decade low

Customers are thrilled as prices of mushrooms drop unexpectedly. In Balkhu vegetable market, the price of mushrooms was Rs. 50 per kg.

Mushroom farmers are bringing in around 500-600 kgs of mushrooms daily to the market, which is a lot of mushrooms. The drop in prices of mushrooms is at a decade low.

Foreign Employment woes: 513 die in 7 months

The statistics at the Department of Foreign Employment (DoFE) says Malaysia has been the country with the highest toll of Nepali workers.

The statistics show that 140 youths who had been seeking their fortune in Malaysian land and supporting the corrupted government with remittance from their labor lost their lives.

Saudi Arabia stands second in this year’s death toll where 120 Nepali migrant laborers have lost their lives. Similarly, 86 Nepali lost their lives in Qatar whereas 80 died in the United Arab Emirates.

(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.

Just In