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Category Archives: Economy

Kaski landslides claims 30 lives

The death toll from landslides and flooding – due to torrential Monsoon rains in various villages of Kaski district – has climbed to 30. Some 23 – including seven of a family – died while six others went missing at

President pardons Pandey

President Dr Ram Baran Yadav today pardoned former Federation of the Nepalese Chambers of Commerce and Industry (FNCCI) president Pradeep Jung Pandey. The President’s press advisor Rajendra Dahal confirmed that Pandey is among 21 persons granted pardon by the President

After three months of devastating earthquake, children still express fears and insecurity

The children are – after three months of devastating earthquake – still feeling insecure “Nearly 2,000 children, who survived the earthquakes have expressed fear and insecurity at having to live in tents and overcrowded shelters, anxiety about the risks to

Experts focus on resilient livelihoods

Policymakers said that reconstruction and rehabilitation works – post April 25 devastating earthquake – should focus on promoting resilient livelihoods. “Livelihood recovery strategy must not only redress the damage caused by the earthquake, but it must also help build the

UML forms team to discuss on budgetary dispute with NC

One of the coalition partners CPN-UML has formed a three-member talks team to negotiate on disputed issues on budget with the Nepali Congress (NC). The standing committee meeting of CPN-UML held at the Parliamentary Party Office in Singha Durbar today

Tara Air adds new Twin Otter to its fleet

Tara Air added a brand new Viking DHC6-400 Twin Otter aircraft to its fleet. The short take-off and landing (STOL) aircraft boasts cutting-edge avionics technology with an integrated full glass cockpit that features the enhanced ground proximity warning system, traffic

Empty house discusses budget

Lawmakers today criticised the budget for the next fiscal year 2015-16 presented by finance minister Dr Ram Sharan Mahat in the House yesterday. Taking part in the discussions on the estimated statement of income and expenditure for the next fiscal

Budget focuses on economic revival, implementation challenging: Mahat

Finance Minister Dr Ram Sharan Mahat asserted that budget for the next fiscal year 2015-16 is focused on economic recovery and reconstruction but also accepted that full implementation is a challenging task. The fiscal policy will help economic recovery and

Budget draws mixed reactions

The budget has received mixed reaction from the political parties and business community Some political parties and entrepreneurs welcomed, whereas others critisised the Rs 819.47 billion budget presented by finance minister Dr Ram Sharan Mahat yesterday. Former finance minister and

Civil servants disappointed with budget

Government employees are disappointed as they did not get their perks hiked, according to their demand and government’s promise. They had demanded at least 10 per cent hike in their pay. Nepal Civil Servants Association president Punya Prasad Dhakal showed

Finance minister unveils post earthquake reconstruction budget of Rs 819.47 billion

Finance Minister Dr Ram Sharan Mahat today presented a post-disaster reconstruction budget of Rs 819.47 billion for the next fiscal year 2015-16. Presentation the budget at the Legislature Parliament, Mahat said that budget for the next fiscal year is 32.6

Government to present budget for next fiscal year on July 14

The government is going to present the budget for the next fiscal year 2015-16 on Tuesday. Finance secretary Suman Sharma confirmed that finance minister Dr Ram Sharan Mahat is presenting the budget for the next fiscal year in the Legislature-Parliament

UNICEF aids in scaling up interventions to combat risks of malnutrition

Two months after the first of two major earthquakes hit Nepal, UNICEF is supporting the Ministry of Health and partners to accelerate delivery of essential nutrition services to over 500,000 children and women in the 14 most affected districts through

Muraraka takes charge of FNCCI

Pashupati Murarka, who has been elected the 17th president of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) unopposed from the special general meeting today, took charge of his post in the afternoon. “I will discharge my duty

UN rejects allegation of distributing substandard food in Nepal

The UN today rejected media reports that World Food Programme (WFP) has distributed substandard food to the survivors of devastating earthquake on April 25 and subsequent aftershocks. “It is totally wrong and nonsense to make allegations by the local media

Budget to focus on reconstruction: Finance minister Mahat

The government is focusing on reconstruction in the next fiscal year’s budget. The government is all set to prioritise economic dynamism, rehabilitation and reconstruction of quake-ravaged structures, promotion of good-governance, development of energy, and modernisation of agriculture sector in the

Former finance ministers suggest prioritising agro, job creation and rebuilding

Former finance ministers and lawmakers today suggested the incumbent finance minister Dr Ram Sharan Mahat to give more priority to agriculture sector, creating jobs for the youths and rebuilding of damaged infrastructures – caused by the devastating earthquake of April

Nepal signs framework agreement of China-led AIIB

Nepal has become the founding member of Asian Infrastructure Investment Bank. Nepal, alongwith 50 countries across Asia, Australia, Europe and South America, signed article of agreement of the Asian Infrastructure Investment Bank in Beijing today. Though, some 57 governments have expressed