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Category: Finance

Country witnesses annual trade deficit of Rs 700 billion

8 June, Kathmandu: Country’s hilly region is costlier than other belts, according to the current macroeconomic and financial situation of the country released by the central bank Thursday. According to the Nepal Rastra Bank (NRB), price hike stands at four percent in the hilly region while it is 3.6 per cent in Tarai, 2.8 per cent in mountain region and 1.9 per cent in Kathmandu valley. The price hike was in double digit in the hilly region and the Kathmandu valley last year while it was 8.6 per cent in Tarai and 9.1 in mountain region. Regular market monitoring...

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Panchakoshi Highway linking Surkhet-Dailekh-China

8 June, Dailekh: The Panchakoshi Highway is to be constructed to explore identity and development opportunities of historically important Dailekh district. There is no bound of happiness among the local folks when the government came up with an important plan in the national budget to expand the road stretch leading to Nankche-Nagla. The road expansion drive would also offer opportunity to widen linkage with China through the construction of road stretch from Mahabu-Jumla to Rara Lake. Finance Ministry Advisor Dr Purna Prasad Regmi shared that the Highway has been named before Panchakoshi for it is considered the identity marker...

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Excessive heat causes death of 1500 chickens at a poultry farm

7 June, Tanahun: As many as 15,000 chickens died due to excessive heat at a farm here in Tanahun district. The chickens in Sulav Poultry Farm owned by Himal Shrestha of Byas Municipality – 5 died in the scorching heat. Shrestha said of the total of 4,600 Layer chickens 1,500 died on Sunday causing a loss of around Rs 1.5 million. The farmer had been a worker with the Standard Chartered Bank in Saudi Arabia and returned to the country and started chicken farming for commercial egg production some 6 to 7 months ago....

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Rs 30 thousand offerings collected in Gosainkunda

6 June, Rasuwa: The Gosainkunda Temple, a famous religious shrine in Rasuwa district, has collected about 30 thousand rupees offerings known as bheti during the Gangadashahara festival this year. The festival had begun on May 26 and concluded on June 4. The Temple Area Development Committee chair Sanjeev DM said RS 29,887 has been collected at the temple. According to chair DM, about 5,000 pilgrims had visited the shrine during the festival....

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Process on feasibility study of Kerung-Rasuwa-Kathmandu railroad to begin soon

2 June, Kathmandu: The Investment Board has decided to forward the process on feasibility study of the construction of Kerung-Rasuwa-Kathmandu railroad after holding bilateral discussion with China. The Investment Board meeting held under the chairmanship of Prime Minister Pushpa Kamal Dahal on Thursday decided to augment the process from the government side as China has shown interest in the construction of the railroad in this route. Minister for Information and Communications Surendra Kumar Karki informed that the works on feasibility study and other process relating to the railroad which has come under Chinese concept of One Belt One Road...

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Industry Ministry to release Rs 100 million grant for Eye Centre’s capacity enhancement

2 June, Kathmandu: The Ministry of Industry (MoI) has decided to provide Rs 100 million grant to the Nepal Eye Centre for its capacity enhancement. Organizing a press conference at the MoI, Minister for Industry Nabindra Raj Joshi said that the amount will be spent to develop infrastructure and set up intraocular lens manufacturing facility and expand its market abroad. Minister Joshi said, “The eye lenses manufactured in Nepal are world class. Nepal is currently exporting such lenses to 17 countries and the target is to expand the market across 50 countries.” Rs 10.5 million to Pun’s Innovation Centre...

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NRA launches toll-free helpline for queries on reconstruction

1 June, Kathmandu: Keeping in mind the inconvenience for the communications between the general public and the National Reconstruction Authority (NRA) on the matters related to post-quake reconstruction, the NRA launched the toll-free helpline from Wednesday. The helpline facility is available for the callers for round the clock and the callers could dial and register their queries or complaints at 1660-01-72000 while the Ncell users can do it at 98015-72111, according to the NRA. The NRA officials, however, will respond to the callers within the 24 hours. NRA’s CEO Prof Dr Govindaraj Pokharel on Wednesday made a mock call...

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Target of 7.2 per cent economic growth rate

30 May, Kathmandu: The government has set the target of 7.2 per cent of economic growth rate in the upcoming fiscal year. Releasing the annual budget for the fiscal year 2017/018, Deputy Prime Minister and Minister for Finance Krishna Bahadur Mahara said the country shall witness rapid economic development following massive progress in economic mobilization. Mahara also said that the inflation rate would be around seven percent in the upcoming year with improved supply system. The budget has targeted remarkable progress in social security and human development index while 100,000 more self-employments would be generated. Similarly, 400,000 new employments...

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Koteshwor-Suryabinayak roadway to be changed into tunnel

30 May, Kathmandu: The government has planned to change the Koteshwor-Suryabinayak roadway into a tunnel for the expansion of country’s only international airport, Tribhuvan International Airport. Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara announced this while presenting the budget for the fiscal year 2017/018 at the Legislature-Parliament on Monday. The budget has also mentioned about minimization of the problems relating to runway, taxiway and the air traffic. Similarly, in order to materialize the national pride projects, the government has allocated Rs 14 billion for the construction of three international airports- Nijgadh, Bhairahawa and Pokhara. Tender notice would...

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NEA renews PPA on power import from Dhalkebar-Muzaffarpur line

28 May, Kathmandu: Nepal Electricity Authority (NEA) has renewed the power purchase agreement (PPA) on the import of electricity via the Dhalkebar-Muzaffarpur Transnational Transmission line. NEA executive director Kulman Ghising and India’s NTPC Vidhyut Vyapar Nigam (NVVN)’s chief Arun Kumar Garg signed on the PPA renew document Saturday at India’s Central Electricity Authority, according the NEA Spokesperson Prabal Adhikari. The validity date of the agreement is ending this week and the NEA team left here for New Delhi Friday for its renewal. The renewed document fixes the purchase price rate at Rs 3.60 per unit as per the existing...

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