The contributor for Republica.

Govt to announce budget on Monday while it faces multiple economic challenges

Published On: May 28, 2023 08:00 AM NPT By: RAJESH KHANAL

KATHMANDU, May 28: The government is under pressure to devise suitable fiscal policy to generate more revenue sources, to overcome challenges of recession and cutting down the unproductive expenses through announcement of the budget for the fiscal year 2023/24.

Nepal within an inch of transforming into electricity self-reliant economy

Published On: May 16, 2023 11:00 AM NPT By: RAJESH KHANAL

The past year was marked by high hopes for achieving a notable goal in the energy business, in line with the aspirations of the nation. The achievements of last year have largely established the confidence that the development of the energy sector can make the nation prosperous.

China agrees to resume bilateral trade with Nepal via Tatopani-Khasa customs after a hiatus of nine years

Published On: March 31, 2023 09:00 AM NPT By: RAJESH KHANAL

KATHMANDU, March 31: The Chinese government has agreed to resume the two-way trade via Tatopani-Khasa route from May 1 this year.

NRB tightens the noose around microfinance companies exploiting customers

Published On: February 24, 2023 08:30 AM NPT By: RAJESH KHANAL

KATHMANDU, Feb 24: After a number of microfinance institutions (MFIs) were found exploiting their customers by slapping exorbitant interest rates, NRB has enforced stringent policies for the sector.

India agrees to expedite construction of a number of cross-border transmission lines to facilitate bilateral energy trade with Nepal

Published On: February 20, 2023 09:00 AM NPT By: RAJESH KHANAL

KATHMANDU, Feb 20: India has given the green signal on allowing Nepal to export up to 1,200 MW of electricity by using the Dhalkebar-Muzaffarpur cross-border transmission line and a number of similar infrastructures in the Nepal-India border areas alongside Bihar of India.

Govt seeks to make operating license mandatory for real estate traders

Published On: February 15, 2023 09:15 AM NPT By: RAJESH KHANAL

KATHMANDU, Feb 15: The government is making preparations for mandatory use of operating licenses to carry out real estate transactions.

NRB likely to unveil revised monetary policy today

Published On: February 10, 2023 08:30 AM NPT By: RAJESH KHANAL

KATHMANDU, Feb 10: Under pressure to address a number of factors to improve the macroeconomic indicators, the Nepal Rastra Bank (NRB) is revising the monetary policy for 2022/23.

Price of wheat flour almost doubles in local market

Published On: January 26, 2023 10:53 AM NPT By: RAJESH KHANAL

Businessmen cite shortage of raw material for price hike

Electricity bill gathers dust for the past one and a half decades

Published On: January 23, 2023 09:15 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 23: The government has failed to bring in the new electricity act even in one and a half decades of finalizing the related draft.

NRB annuls cash margin requirement for import

Published On: January 20, 2023 08:30 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 20: Nepal Rastra Bank (NRB) has removed the provision of cash margin, which the importers need to maintain against their letters of credit (LCs) while importing goods.

Banks ready to lower interest rate from mid-January: NBA

Published On: January 12, 2023 09:30 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 12: Commercial banks of Nepal are likely to reduce the existing interest rates on deposits from Sunday, the beginning of the new Nepali month, after the banks were replenished with surplus liquidity.

NTA asks ISPs to block all the access to digital platforms used for transactions of online betting and virtual currencies

Published On: January 9, 2023 09:00 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 9: Nepal Telecommunications Authority (NTA) has stepped up efforts to restrict the sites being used for online betting and virtual currencies, citing an increase in illegal financial transactions via such digital platforms.

PM Dahal’s direction to reduce fuel prices less likely to come into effect soon

Published On: January 6, 2023 08:05 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 6: While Prime Minister Pushpa Kamal Dahal on Thursday directed the Ministry of Industry, Commerce and Supplies (MoICS) to reduce the prices of petroleum products with immediate effect, a pre-scheduled board meeting of Nepal Oil Corporation (NOC), the state-owned oil monopoly, was canceled to avoid facing the PM’s order.

Concerns in Nepal as Indian Supreme Court validates Modi’s demonetization move

Published On: January 3, 2023 08:30 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 2: Nepal’s banking system holds demonetized Indian currency (IC) worth over Rs 50 million, which the Indian authorities have refused to take back.

DRI registered cases of revenue leakage worth over Rs 8 billion in 2022, Coca Cola’s capital gains tax scam the biggest

Published On: January 1, 2023 09:50 AM NPT By: RAJESH KHANAL

KATHMANDU, Jan 1: The Department of Revenue Investigation (DRI) filed 42 cases of revenue leakage worth Rs 8.29 billion in a one-year period of 2022.

Nepal grows 6.94 percent more paddy, still faces shortfall of 480,000 tons this year

Published On: December 30, 2022 09:00 AM NPT By: RAJESH KHANAL

KATHMANDU, Dec 30: Nepal is estimated to have produced 5,486,472 tons of paddy this year, which is 6.94 percent more than the yield of last year.

China ends 31-month long unannounced blockade, allows entry of Nepali goods from Rasuwagadhi border

Published On: December 28, 2022 08:15 AM NPT By: RAJESH KHANAL

KATHMANDU, Dec 28: China on Tuesday permitted a notable number of Nepal’s cargo trucks carrying exportable goods to move across the border at the Rasuwagadhi-Kerung checkpoint, ending a 31-month long unannounced blockade.

Challenges facing the new FinMin

Published On: December 27, 2022 08:45 AM NPT By: RAJESH KHANAL

KATHMANDU, Dec 27: CPN-UML Vice-chairman Bishnu Prasad Poudel, who enjoys a merry time after being appointed as the finance minister for a third time, will have an uphill battle to lift the Nepali economy, which faces a number of challenges at present.

Over 2,000 individuals and firms blacklisted last month, banks’ provisioning amount also hit over Rs 126 billion

Published On: December 25, 2022 08:45 AM NPT By: RAJESH KHANAL

KATHMANDU, Dec 25: Cases of defaulting bank loans have increased by a notable number in recent days after the borrowers failed to pay back their dues on time. This has led to a significant rise in provisioning of banks.

Too little, too late

Published On: December 18, 2022 08:05 AM NPT By: RAJESH KHANAL

Consumers feel cheated as NOC flouts its own promise to enforce auto-pricing system  NOC reduced petrol price by Rs 3 per liter in the past five months even as its price in int’l market declined by 28 percent