KATHMANDU: Economic Digest, a daily morning email digest, is basically a relatable summation of important business news from Nepal into easy-to-understand summaries.
No compromise on fiscal governance: NRB
Nepal Rastra Bank (NRB) is not going to make any compromise in connection with maintaining good governance in banks and financial institutions.
The central bank is laying special emphasis on enforcing the legal norms and values among the banks and financial institutions which is directly associated with keeping good governance.
“Zero tolerance will be adopted regarding the compliance of the directive on institutional governance issued by the central bank for the licensed banks and financial institutions”, stated a monetary policy issued last Friday for the fiscal year 2020/21.
Keeping into consideration the austerity needs following the COVID-19, the central bank has braced up the policy for reviewing the perks and benefits of the Chief Executive Officers and other high-placed officials of the banks and financial institutions.
Public transport to be operated from Monday
Transport entrepreneurs are operating the public transport from today. They agreed to operate public transport from today after the monetary policy addressed most of their demands.
In a discussion held at the Transport Management Department on Sunday, the entrepreneurs said they will operate the transport from today.
Director General of the Department Gogan Bahadur Hamal, meanwhile, urged them to strictly implement the standards of health security to prevent spread of coronavirus.
Construction of cemented fence in CNP gets momentum
Works are on the progress to build a concrete wall along the border of Chitwan National Park and the Buffer-zone community forest.
The project is meant for preventing the possible confrontations between human and wildlife. The construction of 2.5-km segment has been completed.
Under the first phase of the project, the Bagmati State’s Ministry of Land Management, Agriculture and Cooperatives had signed a contract for constructing the wall up to 5.5 km and so far the project reports 50 percent progress of the target.
The final target is for 8-km wall and works to this regard have also begun from the current fiscal year. According to project engineer Bal Gopal Sigdel, the construction of 5.5-km section goes on at the cost of Rs 80 million.
The structure passes through Ward No 10, 11, 12 and 13 of Khairahani Municipality and Ward No 1, 3 and 6 of Rapti Municipality.
Settlement in these areas frequently encounter with the arrivals of elephants, rhinos, boars and other wildlife which damage crops and sometimes kill people.
FNJ UK chapter to provide Rs 2.3 million for journalists
The Federation of Nepali Journalists (FNJ) UK Chapter has decided to contribute around Rs 2.3 million to the FNJ emergency fund to support journalists affected by the COVID-19 pandemic.
While Rs 2 million would be deposited to the revolving fund, remaining Rs 300 thousand will be spent immediately for the relief assistance to journalists.
The FNJ central committee has already deposited a total of Rs 3 million in the fund. It aims to deposit at least Rs 10 million in the fund.
The award will be given to those involved in Nepali journalism in the UK. FNJ Chair Govinda Acharya said some 2,000 journalists have lost their jobs and over 750 newspapers and five FM radio are closed due to COVID-19 pandemic in Nepal.
(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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