KATHMANDU: Economic Digest offers a concise yet comprehensive overview of significant business happenings in Nepal, presented in easily digestible summaries.
The given text provides a snapshot of various developments across different sectors in Nepal, highlighting both economic growth and challenges.
Key figures like the increase in personal PAN registrations, VAT, and excise licenses demonstrate growing formalization in the country’s economy.
The surge in cardamom production and earnings in Baglung showcases the potential for agricultural expansion.
Meanwhile, the discussions at the Startup and SME Conference underline the need for more inclusive policies, particularly women-friendly laws, to foster startup culture and innovation.
The focus on the IT sector indicates a promising opportunity for significant revenue generation if Nepal invests in human resources.
However, challenges such as the decline in tourist traffic in Rasuwa and the impact of weather disturbances on tourism highlight the vulnerability of the sector.
Moreover, improvements in infrastructure like road blacktopping and increased revenue from transport services suggest ongoing developmental progress.
In addition, initiatives like the dairy subsidy in Baglung and the export of herbal oils from Ilam represent positive strides in local industries.
Finally, the call for increased investment in Nepal’s energy sector by Bangladeshi investors reflects an ongoing regional economic collaboration.
These updates collectively reflect a dynamic mix of opportunities and hurdles in Nepal’s economic and industrial landscape.
Number of people with PAN numbers exceeds 4.5 million
The number of people in Nepal who have obtained personal Permanent Account Numbers (PANs) has surpassed 4.5 million.
According to the latest data from the Department of Internal Revenue, the exact number of individuals holding personal PANs has reached 4,548,323.
In addition, the number of institutional PAN registrations stands at 1,993,724.
VAT registrations have reached 3,383,316, while excise license registrations have totaled 1,216,682, according to the department.
Cardamom sales worth 60 million in Baglung
Cardamom production has increased in Baglung, with farmers producing 48 metric tons last year due to an expansion of cultivated areas.
According to data from the Agricultural Knowledge Center, farmers in Baglung earned 60 million rupees from cardamom sales in one fiscal year.
‘Women-friendly laws needed to boost startups’
Speakers at the Startup and SME Conference held at the Nepali Congress headquarters have called for the implementation of women-friendly laws to increase female participation in startups.
During the second session of the conference, organized by the Entrepreneurship and Small and Medium Enterprise Development Department at the Congress Party Office in Sanepa, speakers emphasized the need for the state to change its discriminatory policies.
‘Nepal can earn 100 billion rupees annually from IT sector’
At the Nepal Startup and SME Conference, experts discussed the potential for Nepal to earn over 100 billion rupees annually by developing IT human resources. In the first session of the second day of the conference, titled Entrepreneurship and Human Resource Development: Preparation for the IT Sector, speakers highlighted that even small investments in IT could yield significant results.
Tourist traffic in Rasuwa drops amid weather disturbances
Tourist traffic in Rasuwa has decreased significantly due to recent weather disturbances, which have led to an increase in temperature.
According to Shyam Kumar Sah, Senior Conservation Officer of Langtang National Park, the decline in tourist arrivals is due to unusually cold weather caused by snowfall in higher altitudes, along with the freezing of natural water sources such as deep gorges, lakes, and wells.
28 kilometers of road blacktopped in Pokhara-Jamune section
So far, 28.52 km of road has been blacktopped in the Pokhara-Jamune section of the Pokhara-Muglin Road Project.
According to Project Engineer Sowjanya Nepal, 10.36 km remains to be blacktopped in this section.
“Two and a half kilometers of road in Tanahun are yet to be blacktopped, and work is also ongoing in the Kaski section,” he added. “The target is to complete the work within the coming year.”
Transport Office Hetauda collects over 290 million in revenue
The Transport Management Office in Hetauda, Makawanpur, has collected over 290 million rupees in revenue in the first six months of the current fiscal year (2081-82).
According to the office’s chief, Praveen Shrestha, the office collected a total of 290,175,651 rupees between Shrawan and Poush, including from new vehicle registrations, renewals, and the distribution of driver’s licenses.
Dairy farmers in Baglung excited about milk subsidy
Dairy farmers in Baglung are excited after receiving a subsidy of five rupees per liter on milk, up from two and a half rupees per liter last year.
The Veterinary Hospital and Animal Service Expert Center in Baglung has started providing this subsidy to farmers based on milk production.
Dr. Rishiram Sapkota, Chief of the center, explained that the subsidy aims to encourage farmers and make the district self-reliant in milk production.
The subsidy is provided to farmers affiliated with dairy production cooperatives.
Ilam’s herbal oils reach France
Herbal oils produced in Ilam are now being exported abroad. The industry, run by Nityaraj Dahal in Maijogmai Rural Municipality, has begun exporting locally-produced oils.
Dahal shared that the industry, established 13 years ago, has started exporting its products, with France being the primary destination for these herbal oils.
Bangladeshi investors urged to invest in Nepal’s energy sector
The Nepali Embassy in Dhaka, Bangladesh, organized a workshop on Trade and Investment Relations between Nepal and Bangladesh and urged Bangladeshi investors to invest in Nepal’s energy production sector.
Ambassador Ghanashyam Bhandari highlighted the growing economic engagement between the two countries, including the import of 40 MW of hydropower from Nepal to Bangladesh.
He emphasized that energy cooperation between the two nations would benefit not only Nepal and Bangladesh but also the entire South Asian region.
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