The board meeting of NRB chaired by newly appointed Governor Dr Chiranjeevi Nepal has declared Lalitpur Finance problematic for failing to maintain financial good governance, due to negative capital fund and high bad debts.
KATHMANDU, March 30:
Sugar manufacturers have announced they will not pay the price of sugarcane fixed recently by the government citing the falling sugar price. They claim that the factories cannot operate by paying the price fixed by government. The government on Thursday had fixed the price of sugarcane for the current fiscal year at Rs 461 per quintal after the factories a...
KATHMANDU, March 30
The market monitoring teams deployed by the Department of Commerce and Supplies Management can now take action against the firms not meeting the standards on the spot.
The draft of the amended Consumer Rights Protection Act has provision allowing the monitoring officer to impose a fine of Rs 5,000 to Rs 15,000 on such businessmen on the spot. The act curre...
LOK BAHADUR CHAPAGAI
KATHMANDU, March 25
The difference of trade deficit has been limited to 16.1 percent in the first seven months of the current fiscal year. It was 25.3 percent in the corresponding period last year.
There was balance of payment (BOP) surplus of Rs 32.80 billion at mid-February while it was 95.78 billion at the corresponding time last year. Remittance growth rate, that ...
KATHMANDU, March 30
The Nepal Rastra Bank (NRB) has declared Lalitpur Finance Limited problematic.
The board meeting of NRB chaired by newly appointed Governor Dr Chiranjeevi Nepal has declared the finance company problematic for failing to maintain financial good governance, due to negative capital fund and high bad debts. The finance company has deposit of Rs 1.35 billion, according to the...
KATHMANDU, March 19
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) is facing legal complexities after arrest of its president Pradeep Jung Pandey. Senior Vice-president functions as acting president if the post of president is vacant as per the FNCCI statute but there is uncertainty in lack of clarity about the process.
One faction argues that the post of president is n...
KATHMANDU, March 30
Promoters of medical college claim that they have paid tens of millions in bribes to officials at the Nepal Medical Council (NMC) and politicians to get affiliation and permission for operation.
Senior advocate and promoter of Nepal Medical College Krishna Prasad Bhandari claims the medical college has paid over Rs 30 million in bribes to different bodies...
KATHMANDU, March 12
Emergency information system (EIS) has been installed in the Banepa-Bardiwas (BP) Highway constructed with assistance from the Japanese government. The technology installed for the first time in Nepal allows one to get all kinds of information about the 160-kilometer highway including rainfall, landslides, accidents and obstructions through the internet.
KATHMANDU, March 21
Over three million Nepali youths have gone abroad in search of work after the political change of 2006 in lack of employment opportunities inside the country. Around 80 percent of Nepalis who have left the country have done so from the fiscal year 2063/64 to the first eight months of the current fiscal year, according to the Department of Foreign Employment.
DIL BAHADUR KC
DOLAKHA, March 28: Construction of Upper Tamakoshi Hydropower Project is still stalled after workers rejected the recent agreement to stop the two-week protest at the project.
Work has yet to resume for the 16th day due to political division among the workers who returned back after reaching agreement with the Upper Tamakoshi Hydropower Limited (UTKHPL) on Wednesday to immedia...
KATHMANDU, March 26
Headquarters of the Nepal Police and the Armed Police Force (APF) have deployed teams after financial irregularities in operation of their mess across the country.
The forces have deployed special teams to the units across the country to control the irregularities committed due to connivance of office chiefs and mess operators. Around 90 percent of 67,400...
Unemployment is at frightening level in the country mired in vicious cycle of political instability. Nobody would want to go abroad to toil in the desert leaving family if there were jobs at home. Opinion