KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Around 80 quintal foodstuff sold out through online orders
The Food Management and Trading Company Limited said it has sole around 80 quintal of foodstuffs by taking online orders during the lockdown period.
The state-owned company started online order from April 8, and has been supplying goods to the customers inside the Ring Road in Kathmandu.
Plans are also afoot to deliver foodstuffs as per the demand outside the Ring Road as well, officials have said. Spokesperson of the Company, Sharmila Subedi informed that the staffers provide rice and sugar at the doorsteps in vans.
NEPSE transaction to resume after May 7
Nepal Stock Exchange Limited (NEPSE) is making preparations to resume its transaction after May 7 even if the lockdown continues.
NEPSE said it will open transaction even for a certain period in view of the hopelessness of the investors caused by Coronavirus pandemic resulting in the closure of the bench mark index for over 45 days.
Speaking at a virtual interaction, Chairman of Security Board of Neal (SEBON) Bhishma Raj Dhungana said the preparation is on to resume the transaction after May 7.
New cities to be developed in Kathmandu Valley
Minister of State for Urban Development Rambir Manandhar shared that budget will be allocated in the new fiscal year to develop new cities in the Kathmandu Valley considering the density of population in the Valley and its surroundings.
During a meeting held at his office with parliamentarians, State Minister Manandhar said that the government had given utmost priority to the construction of an alternative Ring Road, proposed Tokha Chhahare tunnel and under-construction tunnel at Naubise and development of new cities.
A 65-km ring road would be built linking the districts outside the Valley and places as Chhahare, Thansingh, Dhikure, Devighat, Mahadevphant, Galchhi, Naubise.
Concrete program will be brought to revive tourism: Minister Bhattarai
Minister for Culture, Tourism and Civil Aviation Yogesh Kumar Bhattarai has said the forthcoming policy and programs and budget would bring concrete programs to revive the tourism sector which has been badly dented by the coronavirus menace.
Minister Bhattarai assured this while receiving a memorandum from the Trekking Agency Association of Nepal (TAAN), and Nepal Trekking, Culture, Archaeological, Cargo and Courier Workers’ Union on Tuesday.
Minister Bhattarai further said the joint efforts of government and private sectors were however essential to uplift the tourism sector. Revival of tourism was imperative for the security of investment and workers as well, he stressed.
NRB directs BFIs to provide 2% discount on interest
Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to provide a two per cent discount on the interest rate to minimize the impact of novel coronavirus on borrowers.
The central bank, through a notice, instructed the BFIs to provide discount to the COVID-19-affected entrepreneurs on the interest as of April 12.
The NRB said the banks and financial institutions issuing loans henceforth have to reduce the interest by 2% and count the interest amount of the fourth trimester of the fiscal year 2019/2020.
Nepal’s per capita income projected at US$ 1,085
The Central Bureau of Statistics has forecast Nepal’s annual economic growth of this fiscal year will be 2.27 per cent due to the coronavirus impact.
The CBS estimate has been based on the supposition that international travel, tourism and the hospitality sectors would be affected by the coronavirus because of which other sectors, too, would resume their operation.
Releasing its report, the Central Bureau of Statistics (CBS), the central agency for the collection, consolidation, processing, analysis, publication and dissemination of statistics in Nepal has projected the per capita income of Nepalis to be Rs. 1, 26,018.
(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.
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