Kathmandu: Rasuwagadhi-Kerung border come into full operation.



The Ministry of Industry, Commerce and Supply has said that the border has been fully operational since Saturday.



Secretary Madhukumar Marasini and Vice President Silang Nima of Tibet, China jointly announced the re-operation of the border crossing.

Rasuwagadhi-Kerung border come into full operation

Kathmandu: The Government of Nepal aims to deliver NPR 0.8 trillion (US$6 billion) infrastructure investments through public-private partnerships (PPPs) as part of its Fifteenth Plan (2019/20 – 2023/24). While PPPs are vehicles to mobilize private sector financing, governments often must provide fiscal support to mitigate risks.



The need for robust fiscal management to manage the government’s PPP-related fiscal risks, or Fiscal Commitments and Contingent Liabilities (FCCLs), was the subject of a workshop on strengthening PPP-related fiscal risks organized on March 27 by the World Bank.



The workshop was attended by representatives from the Ministry of Finance, Public Debt Management Office, National Planning Commission, Office of Investment Board Nepal, and Office of the Prime Minister and Council of Ministers.



“Mobilizing private sector financing will continue to be a key priority for the Government of Nepal, making it critical to account for and manage PPP-related fiscal risks,” said Harischandra Dhakal, Under Secretary, Ministry of Finance.



“Such strategic workshops will be key to provide a platform to share knowledge and guide policy actions in the management of risks going forward.”



One of the main benefits of PPPs is that they can relieve some of the pressures on the government’s budget by providing an alternative source of financing for infrastructure.



However, the nature and extent of government support needs to be carefully structured in terms of allocating risks to balance requirements from investors and lenders to ensure the commercial feasibility and bankability of the project, potential for efficiency gains, and affordability of the government support mechanisms required to implement the PPP project.



The workshop involved a presentation by Mark Giblett, Senior Infrastructure Finance Specialist at the World Bank on key elements of a robust FCCL framework.



These include limiting the overall exposure from PPP-related FCCLs, specifying procedures for extension of fiscal support for PPPs, and clearly identifying the responsibilities of government authorities.

Nepal, World Bank discuss strengthening management of fiscal risks in PPPs for infrastructure projects

Kathmandu: The Ministry of Industry, Commerce and Supply has issued Startup Enterprise Loan Fund Procedure, 2079.



According to the procedure, any startup entrepreneur can get a loan of up to 2.5 million rupees without collateral at an interest rate of three percent.



The company can get the loan by pledging its own business.



The Ministry will provide the amount of the fund to Nepal Rastra Bank and the companies will be able to get the loan amount from the commercial bank designated by the National Bank.



As mentioned in the procedure, only startup businesses with a paid-up capital of up to 50 lakhs will be eligible to apply for this loan.

Nepal govt to provide loan up to 2.5 mn to startups

Kathmandu: The World Bank’s Board of Executive Directors today approved $120 million in financing to support the implementation of the Government of Nepal’s flagship School Education Sector Program.



The School Sector Transformation Program operation builds on the Government of Nepal’s previous school education sector programs and puts a greater focus on quality learning by establishing a teacher mentoring system at the local government level, ensuring a full complement of subject teachers (English, Math, and Science) at upper-basic and secondary levels.



“Investing in quality education is key to developing human capital which goes to the heart of ensuring greater equity and economic growth,” said Faris Hadad-Zervos, World Bank Country Director for Maldives, Nepal, and Sri Lanka.



“This operation supports the Government of Nepal’s vision to enhance quality of and equitable access to education to fulfill the ambitions of the new federal state.”



The operation focuses on improving foundational skills by implementing the national integrated curriculum in early grades.



To address the learning losses as a result of school closures due to COVID-19 and other disasters, the operation supports the government’s program through the development and implementation of the Recovery and Accelerated Learning Plan, construction of green and resilient classrooms, and strengthening digital teaching and learning materials.



The operation also supports improving the equity of the school sector by including girls, disabled students, and those of lower socio-economic status, and by expanding targeted scholarships to students in grades 6-8 (upper-basic level) to help disadvantaged students.

World Bank Approves $120 Million to Support Nepal’s Education Sector

Kathmandu: Prime Minister Pushpa Kamal Dahal 'Prachanda' has directed the Internal Revenue Office, Revenue Research Department and Commerce Department to work jointly for effective market monitoring.



The Prime Minister gave the instructions during a discussion with shoe businessmen at Singh Darbar on Thursday afternoon.



The Prime Minister said that the revenue investigation department, security agencies and local administration should deploy a joint team to control illegal import.



He also suggested to prepare a national standard for imports and create an environment that will bring effectiveness in the quality of goods.



The situation of discussing and even making policies but not implementing them should not exist anymore, he added.

Prime Minister directs to monitor market and prevent revenue evasion

Kathmandu: The Hotel Association of Nepal (HAN) has warned to close the business saying that their demands have not been addressed yet.



Even though the borrower is responsible for paying the principal and interest of the loan, in the period of almost 3 years of the covid epidemic, the health protocol, lockdown and other control policy rules have been adopted by the government itself, and the hotel business has fallen to zero due to the direct impact of the epidemic, without having any concern with the government's financial and monetary policy rules.



The association is of the view that Nepal's hotel sector is on the verge of decline due to being deprived of the arrangements and treatment provided to other industries.



At present, hotels are operating at a loss due to the fact that there is no income to cover current expenses even though they are operating, HAN stated.



The association stated that it is extremely regrettable that the Nepal government has not even recognized the Nepali hotel sector as an industry, which has already been invested more than the national annual budget, as the supply of new hotels is more than the demand due to the market entry of many new hotels.



HAN urges the Government of Nepal, the Nepal Rastra Bank and related banks and financial institutions to save and revive the Nepali hotel sector from the difficult economic cycle.

Hotel association warns to halt business

Kathmandu: The price of gold in the Nepali market has reached its highest point so far.



Today, the price of gold increased by 2,900 rupees per tola and made a historical record.



The price of printed gold for Sunday has been fixed at 1 lakh 10 thousand rupees per tola.



Similarly, the price of silver has increased by Rs 35 per tola to Rs 1,345 per tola.

Gold price set new record

Kathmandu: The government has started issuing permits for mountain climbers in the spring season.



According to the Department of Tourism (DoT), 27 people from 5 groups have received expedition permits so far.



According to the department, climbing permits have been issued for Annapurna I, Manaslu, Pangri Goldumba, Surma Sarovar and Thorong Peak till Thursday.

Issuing expedition permit for spring season begins

Kathmandu: In the first 7 months of the current financial year (FY) 2079/80, electricity leakage towards distribution has been limited to 7.99 percent.



The Nepal Electricity Authority (NEA) has said that this year, compared to the accumulated leakage towards distribution during the same period last year, it has been reduced by 1.66 percentage points due to the campaign conducted regularly for the control of electricity supply and technical and non-technical leakages.



Last year, electricity leakage towards distribution during the same period was 9.65 percent.



In the last year fiscal yera 2078/79, the total electricity leakage towards distribution was 10.86 percent.

Power leakage reduces to 7.99 pc

Kathmandu: Industrialists and businessmen have demonstrated against the high interest rates of banks and financial institutions.



Today (Sunday) various businessmen and industrialists gathered at Maitighar Mandala for protest.



Industrialists have accused the government and the Nepal Rastra Bank for ignoring the peaceful protest and now they have to protest again.



They have also warned that if the government does not address the demands of the businessmen, the situation will get worse and they will occupy the Rashtra Bank and the Parliament house.



They protested with placards such as revise the monetary policy, maintain stability in interest rates, suspend working capital guidelines, interest rates have become high, stop high service charges and others.

Industrialists protest against high interest rates

Kathmandu: Nepal police has returned 1728 people from the airport who were travelling to Gulf countries for work with visit visa.



During the interrogation at the airport, contrary to government rules, they were found to have traveled to Gulf countries like UAE, Oman, Kuwait, Qatar, Kuwait and Bahrain to work despite having a visit visa in their passports, so the bureau returned them from the airport.



Most of the returnees are women.

Nepal Police returned 1,728 people who were traveling Gulf countries to work on visit visa

Kathmandu: Nepal Women's Chamber has honored various entrepreneurial women on the occasion of 113th International Women's Day.



The Chamber honored women entrepreneurs at the Russian Culture Center in Kamalpokhri, Kathmandu today.



Shubhadra Adhikari Dhakal for industry, Parvata Kharel Bimali for export, Nashala Joshi for IT, Sarita Bhattarai Shrestha for agriculture and Swarupa Shrestha for health are among those honored by the Nepal Women's Chamber.

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