Category: Finance

Kathmandu: In response to Prime Minister Pushpa Kamal Dahal’s directive, the Ministry of Energy has initiated preparations to revoke licenses of non-operational hydropower projects. The move comes as concerns rise over the trend of acquiring licenses without making tangible progress in project development. The Department of Electricity Development (DoED) has taken charge of the initiative,… Continue reading Energy Ministry takes action to revoke licenses of inactive hydropower projects

Kathmandu: The Nepal Foreign Trade Association (NFTA) has lodged a formal protest against the Nepal Electricity Authority (NEA) for disconnecting power lines to industries accused of non-payment of electricity tariffs related to the dedicated feeders and trunk lines. According to NFTA representatives, the NEA recently implemented a tariff hike of up to 67 percent in… Continue reading Nepal Foreign Trade Association protests power disconnections by NEA over tariff dispute

Kathmandu: In a decisive move, the Nepal Electricity Authority (NEA) has disconnected electricity supply to several industries that have persistently refused to settle their outstanding electricity tariff dues for using dedicated and trunk lines. The disconnection, effective since Friday evening, comes in response to Prime Minister Pushpa Kamal Dahal’s explicit directive to the NEA to… Continue reading Power supply disconnected to major industries over unpaid tariffs

Kathmandu: Ministry of Labor, Employment, and Social Security, announced that a remarkable 20,000 Nepali workers will have the opportunity to work in Romania in the year 2024. This decision follows the recent signing of a bilateral labor agreement between Nepal and Romania in Asoj (mid-September to mid-October). The announcement was made during a program held… Continue reading Nepali workers to secure opportunities in Romania: 20,000 visas approved for 2024

Kathmandu: A recent study conducted by the Pravasi Nepali Coordination Committee (PNCC) sheds light on the precarious economic situation faced by Nepali migrant workers upon their return from foreign employment. Despite expectations of an improved financial status upon returning home, the study indicates that a significant number of returnees are still at financial risk. The… Continue reading Critical study reveals challenges in reintegration of Nepali migrant workers

Kathmandu: Inland Revenue Department (IRD) has expanded the scope of the Central Billing Monitoring System (CBMS) to include business entities with an annual turnover exceeding Rs 250 million. Previously applicable only to large taxpayers, the revision comes as the IRD aims to enhance tax collection and overall tax administration. The IRD, through a public notice,… Continue reading IRD expands CBMS mandate to medium-sized businesses for enhanced tax oversight

Kathmandu: Nepal Airlines Corporation (NAC) has announced a notable financial achievement, reporting an annual income of Rs 22.24 billion in the fiscal year 2022/23. The corporation shared this information in an official statement released on Tuesday, highlighting a positive turnaround in its business operations. The fiscal year 2022/23 marks a significant improvement for NAC, which… Continue reading NAC records annual income of Rs 22.24 bc in FY 2022/23

Kathmandu: Tourism entrepreneurs from Pokhara and Bhairahawa are urging the government to promptly initiate international flights from Pokhara Regional International Airport (PRIA) and Gautam Buddha International Airport (GBIA). The appeal was made during a program organized in Bhairahawa on Saturday, a part of the ‘Jaaun Hai Pokhara’ campaign jointly conducted by the Hotel Association Pokhara… Continue reading Tourism entrepreneurs call for international flight operation from Pokhara and Bhairahawa airports

Kathmandu: In a recent gathering organized by the Nepal Trade Union Congress in Lalitpur, Finance Minister Dr. Prakash Sharan Mahat asserted that the country’s economy is on an upward trajectory. Minister Mahat highlighted various positive indicators, fostering optimism for economic growth. Tourist arrivals are experiencing an uptick, and interest rates at banks and financial institutions… Continue reading Finance Minister optimistic as economic indicators point to growth

Kathmandu: The Commission formed by the government to inquire and resolve usury related cases has resolved 5,155 cases out of over 28,000 complaints so far. Uttamraj Subedi, member of the Commission and also former Additional Inspector General of Police, shared that since the formation of the Commission, a total of 218 bigha 10 kattha 7… Continue reading Over 5,000 victims liberated from loan shark exploitation