My Republica

Sagar Ghimire

Ghimire is associated with Republica, English National Daily, since November 2013. He reports and writes on banking, financial, cooperatives, labor, foreign employment and Mount Everest expedition issues.     
Twitter: @sagarghi

sagar.use@gmail.com

Oli projects Rs 5 trillion economy within his present tenure

Published On: September 21, 2019 07:21 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 21: Prime Minister KP Oli has announced that the government will increase the size of the economy to Rs 5 trillion within his current tenure. The current gross domestic product (GDP) stands at Rs 3.5 trillion.

FNCCI, ICAN representatives to be removed from Sebon board

Published On: September 18, 2019 09:29 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 18: The government has tabled a new bill to amend the Securities Act, 2007 proposing a removal of a provision in the law that ensures representation from the private sector and the regulatory body of chartered accountants as board members of the Securities Board of Nepal (SEBON).

Govt proposes tightening terms for bank board directors

Published On: September 14, 2019 10:19 AM NPT By: Sagar Ghimire

KATHMANDU, Sept 14: Board directors in bank and financial institutions (BFIs) will not be allowed to get appointed, elected or nominated for more than two continuous terms if the new bill to amend the Bank and Financial Institution Act, 2017 (BAFIA) tabled in the parliament is endorsed.

Five-year clock to implement $500m MCC compact to start ticking from June 30

Published On: August 9, 2019 02:00 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 9: The five-year clock for implementation of a multimillion-dollar program financed through the Millennium Challenge Corporation (MCC) grant of the US will start ticking from June 30 next year.

Central bank circular could destabilize financial sector: NBA

Published On: August 8, 2019 06:00 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 8: Nepal Bankers Association (NBA) has warned that some of the provisions in the recent circular of the Nepal Rastra Bank could have an adverse impact on the banking sector and the overall economy.

Has NRB put BoP stability on back burner?

Published On: August 4, 2019 09:15 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 4: The country's external sector position is likely to worsen in the current fiscal year 2019/20 as Nepal Rastra Bank (NRB) has focused on supporting the government's growth target rather than the stability of price and balance of payment (BoP).

Ceiling for interest rate of credits of cooperatives fixed at 16%

Published On: August 3, 2019 07:44 AM NPT By: Sagar Ghimire

KATHMANDU, Aug 3: The government has capped the lending rate for cooperatives at 16%.

Monetary policy aims to lower interest rates, ease 'credit crunch'

Published On: July 25, 2019 07:45 AM NPT By: Sagar Ghimire

KATHMANDU, July 25: Nepal Rastra Bank (NRB) has introduced its monetary policy for the new fiscal year 2019/20, focusing on making liquidity management more efficient and maintaining interest rate stability.

NRB’s big push for mergers raises big question of justification

Published On: July 18, 2019 07:13 AM NPT By: Sagar Ghimire

KATHMANDU, July 18: Nepal Rastra Bank (NRB) Governor Chiranjibi Nepal has put mergers of banks and financial institutions (BFIs) high on his agenda as the central bank prepares to unveil its monetary policy for fiscal year 2019/20.

Factories operating at 60% capacity, shows NRB report

Published On: July 11, 2019 08:07 AM NPT By: Sagar Ghimire

KATHMANDU, July 11: The average capacity utilization of Nepali factories has reached 60% over the first six months of the current fiscal year – FY2018/19, according to the latest study of economic activities of the country released by Nepal Rastra Bank (NRB) on Wednesday.

Seven banks submit NRB written commitment for 'big' merger

Published On: July 5, 2019 04:00 AM NPT By: Sagar Ghimire

KATHMANDU, July 5: Seven commercial banks have submitted their written commitment to the Nepal Rastra Bank (NRB) for merger in line with recent instruction of Governor Chiranjibi Nepal.

NRB seeks commitments of commercial banks for 'big' mergers

Published On: June 28, 2019 05:00 AM NPT By: Sagar Ghimire

KATHMANDU, June 28: Nepal Rastra Bank (NRB) has sought commitments from the commercial banks for their readiness to go for 'big' merger and acquisition (M&A) in line with the announcement made in the budget speech for the upcoming fiscal year 2019/20.

Gautam Buddha International Airport to be ready by year-end

Published On: June 24, 2019 05:30 AM NPT By: Sagar Ghimire

BHAIRAHAWA, June 24: If things go as planned, Gautam Buddha International Airport (GBIA) in Bhairahawa will be the first national pride project of the country to be completed.

Rs 2,025 billion per year needed to achieve SDGs, NPC estimates

Published On: June 22, 2019 07:58 AM NPT By: Sagar Ghimire

KATHMANDU, June 22: To achieve the sustainable development goals (SDGs), there will be an average investment requirement of Rs 2,024.8 billion per year until 2030, according to an estimate by the National Planning Commission (NPC).

Access to finance biggest obstacle to growth for private sector

Published On: May 31, 2019 07:49 AM NPT By: Sagar Ghimire

KATHMANDU, May 31: Access to finance has emerged as the biggest obstacle to Nepali firms after the country headed toward political stability and stable supply of electricity, a recent survey carried out jointly by Nepal Stock Exchange (Nepse) and The Milken Institute (MI) shows.

Finance minister defends funds for lawmakers

Published On: May 31, 2019 06:00 AM NPT By: Sagar Ghimire

KATHMANDU, May 31: Amid widespread criticism of the government decision to hike the development fund for lawmakers, Finance Minister Yuba Raj Khatiwada on Thursday defended the 'distributive' budget saying that the government cannot ignore voices of elected representatives in a democratic system.

Govt unveils ‘crowd-pleasing’ budget of Rs 1.53 trillion

Published On: May 30, 2019 07:22 AM NPT By: Sagar Ghimire

KATHMANDU, May 30: The government has unveiled a budget of Rs 1.53 trillion for the upcoming fiscal year 2019/20 without introducing any notable new development project while raising the rates of major taxes and increasing allocations for distributive programs.

China urges Nepal to embrace ‘pragmatic’ approach on digital payments

Published On: May 24, 2019 08:22 AM NPT By: Sagar Ghimire

KATHMANDU, May 24: China has urged Nepal to embrace a ‘very pragmatic approach’ to deal with foreign payment service providers and platforms including Alipay and WeChat Pay.

Lumbini pays tribute to former UN chief U Thant

Published On: May 18, 2019 07:35 AM NPT By: Sagar Ghimire

LUMBINI, May 18: It has been over five decades since then secretary general of the United Nations, U Thant, visited Lumbini and set in motion the UN’s initiatives for the development of Gautam Buddha’s birthplace.

Labour Force Survey finds 11.4 percent unemployment rate

Published On: April 27, 2019 08:52 AM NPT By: Sagar Ghimire

KATHMANDU, April 27: Nearly one million people, or 11.4 percent, out of the total working age population in Nepal are unemployed, according to a finding of the ‘Nepal Labour Force Survey (NLFRS) III’ carried out by the Central Bureau of Statistics (CBS).