Category: Finance

ADB Awards Four Best Projects

26 Sept-Kathmandu: The Asian Development Bank (ADB) has recognized four projects of Nepal for helping to improve water supply and sanitation services, air safety standards and the lives of the rural poor and farmers in the country.   Accordingly, the projects awarded are the Rural Reconstruction and Rehabilitation Sector Project, the Community Managed Irrigated Agriculture Sector Project and the Second Small Towns Water Supply and Sanitation Sector Project and the Air Transport Capacity Enhancement Project.   Finance Secretary Shanta Raj Subedi presented the outstanding project management team awards to the winning teams of the ADB-funded projects at a function held in conjunction with ADB’s annual country portfolio review meeting in the capital on...

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No Food Shortage during Festival: NFC

25 Sept-Kathmandu: Nepal Food Corporation, a government body to deal in food grains (rice) in the country, has committed that there would not be food shortage during the big festival as Dashain.   The Corporation said it has made smooth supply of food this year unlike the past that witnessed food shortage during the festive season.   Acting General Manager at the Corporation, Indra Prasad Sitaula, told the Rastriya Samachar Samiti (RSS) that it was making the transportation of foods effective.   “The Corporation is committed to avoid food shortage during the Dashain and Tihar festivals. If the contractors for the transportation of foods were found delaying transportation, they would be taken stringent action,” he said, informing that although it was supplying the foods in 23 hilly districts, it has received demands from Jhapa and Dang recently.   The Corporation has proposed the government for the food supply in 38 districts.   Meanwhile, the Corporation has initiated process to supply goats considering the coming Dashain festival.   It has planned to bring in 3,400 he-goats in the capital city and distribute and sell after the Phulpati from its Thapathali Office.   Last year, only 1,600 he-goats were sold by the Corporation.   According to the Corporation, it would check whether the he-goats are healthy before the sale.   Similarly, the Corporation is distributing 50,000 quintals of rice as relief...

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Sunrise bank provide Rs. 100,000 To cancer victim Dr. Wagle

25 Sept, Kathmandu : The Sunrise Bank Ltd has provided Rs. 100,000 financial support to cancer victim Dr. Chitra Prasad Wagle. Dr. Wagle said that Chief Executive Officer of the Bank, Surendraman Pradhan, provided the support. Different organisations have been providing financial support to Dr. Wagle as he was not able to go to USA for further treatment of cancer due to financial crisis. Dr. Wagle, who contributed in health services in rural areas of western Nepal, has been suffering from cancer for the past one year. Doctors involved in Wagle’s treatment have suggested him to go to America...

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Emphasis on collaboration with private sector to increase internal productions, Import substitution

25 Sept, Kathmandu: Minister for Finance, Shankar Prasad Koirala, has said the government was ready to find the solution to balance internal production and import of foreign goods. Inaugurating the Nepal Furniture and Furnishing Expo here today, Minister Koirala said he was ready to provide any sort of support to promote industries of traditional skills and art. Minister Koirala said, “The government is ready to cooperate in policy, legal, infrastructure, technical matters associated to this business. The government has started such efforts by bringing industrial policy. A distinct fund has been managed separately to support the aspiring entrepreneurs.” Minister...

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Apple price down with the arrival of apples from jumla

25 Sept, Nepalgunj: Price of apple in Banke district has come down by half after the apples produced in Jumla district arrived in Kohalpur area through land route. Banke people were to pay up to Rs. 180 for apples arriving from China and India a few days ago have felt relief with the arrival of the apples produced in Jumla. The price has suddenly gone down and traded at Rs. 60-80 per kilogramme. The price of Indian and Chinese apples has also been traded at Rs. 100-120 as the local market was occupied with Nepali apples, said Rajan Prasad...

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Around four dozen leaders, Caders of different parties join Nc

25 Sept, Biratnagar :  Nepali Congress Mornag President, Amrit Aryal, has said that the election to the Constituent Assembly (CA) would be held on November 19 at any cost. At a gathering organised by local committee of the NC in Biratnagar, today, Aryal expressed the belief that people’s desire for their different rights would be addressed after the new constitution was promulgated. On the occasion, NC President of the Constituency No. 5, Dilip Pokhrel and Area Coordinator Nabaraj Pandey urged the leaders and cadres to elect the NC with complete majority in the election, claiming that the NC was...

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ADB Offers Nepal 23.5 Million dollars Grant for Reliable Water

24 Sept-Kathmandu: The Asian Development Bank (ADB) has approved a 23.5 million dollars grant from the Strategic Climate Fund for a project that will ensure water supply for use in the home and for agriculture for about 45,000 households during the dry season in Nepal.   The project will work in watersheds in six districts in the Far-Western Development Region including Achham, Baitaidi, Bajhang, Bajura, Dadeldhura, and Doti, which depend on agriculture but are already suffering water shortages.   The project is one of five components of Nepal’s Strategic Program for Climate Resilience, according to a statement issued by the Bank here Tuesday. The project is expected to benefit women and disadvantaged groups, who often have access only to less reliable water sources and suffer disproportionally by spending more time or walking greater distances to secure water during times of shortage.   The project will also educate communities on water conservation practices, including micro-irrigation, methods for maintaining soil moisture in agriculture, grazing and fodder management, and ways to regenerate vegetative cover.   The executing agency is the Department of Soil Conservation and Watershed Management. On top of ADB’s funding, the Nordic Development Fund will provide up to $4.63 million in complementary technical assistance, and the Government of Nepal will provide $1.94 million. The project is due for completion in 2020, adds the statement....

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Regmi Assures Poultry Farmers for Compensation

24-Sept-Kirtipur (Kathmandu): Chairman of the Council of Ministers, Khil Raj Regmi, has said government would address the problems of the poultry farmers who had their business collapsed due to bird flu.   Receiving a memorandum from the Asta Ja Abhiyan (8 ja campaign) on Tuesday, Chairman Regmi said government would initiate works to address the problems of the poultry farmers through relief and compensation before the Dashain festival.   The concerned ministry and the departments would be directed immediately to solve the problems of bird flu affected farmers, he reiterated.   But, Chairman of the Asta Ja Abhiyan, Lok Krishna Bhattarai, complained that although the Ministry of Agriculture and Department of Livestock Services were drawn attention on the problems of the bird flu affected poultry farmers, they ignored the demands.   The memorandum stated that there was four percent contribution from the poultry farming to the national economy.   The Asta Ja Abhiyan’s Chairman Bhattarai warned of farmers’ agitation if the demands of the poultry farmers were not heard.   Through the memorandum, the poultry farmers have demanded full compensation to the loss they had in the business. RSS...

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60 thousand Lambs supplied from Mustan for Dashain

22 Sept-Falebas (Parbat) With the advent of great festivals like Dashain and Tihar, the supply of lambs and mountain goats from trans-Himalayan district Mustang has begun.   Like every years in the past, the lambs and mountain goats from Mustang district are being supplied to Myagdi, Parbat, Baglung and Kaski among others for the purpose of meat with the arrival of festive session.   Around 60,000 lambs and mountain goats are to be supplied from Mustang district alone this year, said Chief of Livestock Service Office, Mustang, Dr Guru Prasad Thakural.   He further informed that around 55,926 lambs and 4,753 mountain goats have been prepared for meat this year.   Compared to last year, the sale of the animals is likely to be reduced by more than 12,000 in number in this season, he added.   It may be noted that total 72,000 lambs and high-hill goats including from Tibet were supplied last year while there is so far no supply of goats and lambs from Tibet this year.   Similarly, the price of lamb and mountain goat has increased around by 35 per cent this time compared to the last season.   A lamb was sold at Rs 8,000 each and mountain goat was transacted at Rs 10,000 each last year while the price this year stands at Rs 12,000 and Rs 15,000, respectively, according to Dr...

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Foreign Aid Commitment Reaches Rs 115 Billion Plus

21 Sept-Kathmandu: Nepal received over Rs 115 billion foreign aid commitment for the fiscal year 2012/013 for the implementation of various development projects.   According to the Finance Ministry, Nepal received over Rs 115 billion foreign aid commitments during the last fiscal year from different development agencies and countries.   Of the total amount, Rs 53.9 billion was grant commitment while the remaining amount was received as loan.   Similarly, at the end of August, 2013, the new foreign aid commitment for fiscal year 2013/014 has reached the total of Rs 3049 million including Rs 2900 million as loan.   Agricultural development, commerce and supplies, culture, energy, environment conservation, good governance promotion, health, capacity building and strengthening of home ministry, local development and supply of drinking water are the top foreign aid and loan receiving areas in Nepal.   The Ministry said that energy sector was the highest foreign loan receiving sector.   The multilateral donor agencies like World Bank, different bodies of the UN and ADB, and neighboring countries India, China, Japan, South Korea, Germany, Switzerland, and UK among others have been supporting in Nepal’s development process. RSS  ...

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