Monthly Archives: April 2014

Budget by June end: Finance Minister Mahat

Finance Minister Dr Ram Sharan Mahat informed the Finance Committee under legislature-parliament that the government is preparing to present the budget for the next fiscal year 2014-15 within June. Responding to the committee members today on the budget formulation process,

Revenue taskforce urges to review tax exemption on mobile, edible oil

Revenue Exemption Impact Evaluation Task force submitting its report to finance minister Dr Ram Sharan Mahat today asked to review the tax exemption on mobile phones and edible oils. The task force, led by the former secretary Bal Govinda Bista,

Government authorises Investment Board to hold talks with investors

The government has authorised Investment Board of Nepal to hold negotiation with investors for the development of transmission lines for hydropower projects above 500MW capacity. The meting chaired by Prime Minister and chairman of the board, here today, also mandated

Government mulls strategic partner for NAC

The government is again giving a thought to restructuring of national flag carrier. The government is planning to amend the Nepal Airlines Corporation (NAC) Act that would pave the way to either convert it into a public limited company or

Government to launch new communications policy in five months

Minister for Information and Communications Minendra Rijal said that the government is bringing a new policy within five months to help communication sector develop. “We are introducing a communications policy within five months to promote communications technology,” said Rijal addressing

Government spends almost three quarter of capital expenditure at year-end

The consecutive governments – since the last six years – have been spending, about three-fourths of total capital expenditure in the last trimester. The delayed and hasty spending at the year end has not only deteriorated the quality of the

Majority of youths dissatisfied with their jobs: ILO

The Work4Youth Project that is running under International Labour Organisation (ILO) revealed that nearly 60 per cent young Nepali workers are dissatisfied with their current jobs. In its report ‘Labour market transitions of young women and men in Nepal’, the

Government intervention caused global financial crisis

Tom Palmer is vice president for International Programs at the Atlas Economic Research Foundation, and general director of the Atlas Global Initiative for Free Trade, Peace, and Prosperity. He previously served as vice president for International Programs at the Cato

Upper Tamakoshi gears up for public issue

Upper Tamakoshi Hydropower is soon issuing shares to the locals of Dolakha district, where the 456-Mega Watt hydropower plant is under construction. “In the first phase, the company is issuing a total of 36,006,000 units of shares to the Dolakha

Nepal proposes to hold next regional labour meet in Kathmandu

Nepal has proposed to hold next regional labour meet in Kathmandu. During the second day of South Asia Labour Conference in Lahore today, joint secretary at the Ministry of Labour Dhan Bahadur Shrestha offered to host the conference in Nepal

CAAN signs agreement with JICA

Civil Aviation Authority of Nepal (CAAN) signed an agreement today with Japan International Cooperation Agency (JICA) for the development of spare parts management centre and en-route radar services. CAAN will use JICA assistance to provide safe and reliable air traffic

China-made MA60 to land tomorrow

China-made MA60 aircraft is scheduled to land at the Tribhuvan International Airport at 12:10 pm tomorrow, a day behind schedule. The arrival of the first of the two 56-seater turboprop-powered airliner Modern Ark (MA) 60 will be a historic as

Experts urge to remove minimum threshold for foreign investment

Experts today called on the government to remove threshold on minimum investment. They also asked to remove list of restricted industries and encourage more foreign investment. Addressing a discussion on the draft of Foreign Investment Policy 2014 organised by Samriddhi-the

Parliament extends term of petroleum study panel

The Parliament today extended the term of the panel formed to study and recommend measures to reform state oil monopoly. The 11-member panel that was formed on March 28 was asked to submit report within a month, but the panel

Microsoft completes acquisition of Nokia phone business

Nokia has completed the sale of substantially all of its mobile phones business to Microsoft. The transaction, which also includes an agreement to licence patents to Microsoft, was first announced in September 2013. At closing, the price was adjusted somewhat

Parliamentary Panel suggests government to bring Petroleum Act

A parliamentary committee formed to recommend reforms in fuel business suggested the government to pass Petroleum Act that could help manage Nepal Oil Corporation and fuel business in the country. The Rs 107-billion worth petroleum sector could not be governed

Call to intensify search for missing trekkers

The trekkers have asked the government to ban solo trekking. Due to rise in the number of missing trekkers in recent years, we want the government to put a ban on solo trekkers, Trekking Agencies Association of Nepal (TAAN), said

Very few non-governmental organisations report to government

The non-governmental organisations that are not tired of teaching transparency and accountability to the government do not report their expenditure to the government. They operate from the foreign aid that has been channeled to them from the tax payers money