KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
Production capacity sees sharp decrease due to lockdown
With the prolonged lockdown in the country, the production capacity of the country’s industries has severely decreased.
In a report released by the Ministry of Industry, Commerce and Supplies, operation of the industries has shriveled compared to the initial days of the lockdown.
It should be noted that during the initial days in March end and the first week of April, some 49 to 51 per cent of the industries were brought into operation across the country, according to Ministry’s Spokesperson Prakash Dahal.
About 49 per cent of the industries were operated during the initial 30 days of the lockdown in five major industrial corridors such as the Nepalgunj-Kohalpur Industrial Corridor; Attariya-Dhangadhi Industrial Corridor; Pathaliya-Birgunj Industrial Corridor, Butwal-Belahiya Industrial Corridor; and Itahari-Biratnagar Industrial Corridor.
During this period, out of 597 industries producing highly-essential goods, only around 150 industries had continued their operations.
Jewellery shops open partially from Sunday
Jewellery shops reopened partially from Sunday after the government started to ease the lockdown enforced to stem the spread of coronavirus.
The Federation of Nepal Gold and Silver Dealer Association (FENEGOSIDA) has stated that the gold and silver business will also be partially operated as per the arrangement made by the government with the joint consent of various district administrations, concerned metropolises, sub-metropolises, municipalities and rural municipality.
CAAN bans chartered service barring flights to be made through diplomatic means
The Civil Aviation Authority of Nepal (CAAN) has banned the operation of all flights except those chartered flights to be facilitated by diplomatic missions.
The CAAN’s decision is to have a huge effect on national flag-carrier Nepal Airlines Corporation (NAC). The company was making chartered flights almost every day during the lockdown.
The CAAN’s move came as airlines companies and travel agencies were found alleged of charging passengers haphazardly in the name of chartered flights during the crisis.
The decision has come into force from Sunday.
”There will be permission for only flight to take through diplomatic means when all commercial flights have been suspended,” the notice stated. However, the decision would have no impact on the NAC pre-scheduled flights. The NAC wide-body will be flying to international destinations: Narita of Japan at 9:00 pm today and Canberra of Australia on Monday.
Gold price fixed at Rs 87,400 per tola as trading resumes
The price for fine gold has been fixed at Rs 87,400 per tola in the domestic market on Sunday.
According to the Federation of Nepal Gold and Silver Dealer Association (FENEGOSIDA), tejabi gold has been priced at Rs Rs 86,960 per tola.
Likewise, the price of silver has been fixed at Rs 925 per tola. The federation had not announced the new price of gold and silver for the last two and a half months after the government enforced the nationwide lockdown.
DAO Kathmandu lists 47 hotels for paid quarantine
The list of hotels for those who want to stay in hotel quarantine at their own expenses after returning from abroad has been made public.
The District Administration Office, Kathmandu has made public the names of 47 hotels from four starts to Deluxe Resort.
The meeting of the District Crisis Management Center, Kathmandu, has finalized the name of the hotels. Grand Hotel is a four-star hotel available for quarantine while the three-star hotels include Airport Hotel, Hotel Baishali, Summit, Marsyangdi, Platinum, Manang, Landmark, Moonlight and Sabrina.
(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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