Category: Finance

Kathmandu: The World Bank’s Board of Executive Directors today approved an $80 million project to help Nepal improve the delivery of water and sanitation services and promote integrated water resources management. “This project aims to strengthen the delivery of water and sanitation services at the local level by building the capacity of municipalities and thereby… Continue reading World Bank provides $80 mn to improve water supply and sanitation services in Nepal

Kathmandu: The government is studying the feasibility of private sector involvement fuel supply. The cabinet has formed a high-level task force to reconsider various policy arrangements to make the supply of petroleum products systematic, transparent and effective. The task force is also going to study the regulatory and trade related activities of petroleum products by… Continue reading Task force formed to study feasibility of private sector involvement in fuel supply

Kathmandu: The government has reduced the infrastructure tax on diesel and petrol. The government has decided to reduce the infrastructure tax on diesel and petrol by Rs 10 per liter. With the reduction of infrastructure tax on diesel and petrol, the fuel price has been expected to adjust.

Kathmandu: Internet Service Providers Association of Nepal has warned that the internet service can be halted at any time to the Nepal Electricity Authority (NEA). The association has stated that the NEA is cutting power transmission lines to major internet distribution centers across the country. The Nepal Electricity Authority (NEA) has warned that the power… Continue reading Service provider threatens to cut off internet service

BRUSSELS (AP): European Union leaders agreed Monday to embargo most Russian oil imports into the bloc by year-end as part of new sanctions on Moscow worked out at a summit focused on helping Ukraine with a long-delayed package of new financial support. The embargo covers Russian oil brought in by sea, allowing a temporary exemption… Continue reading EU leaders agree to ban 90% of Russian oil by year-end

Kathmandu: The government has slashed customs duties on imports of sanitary pads. In the federal parliament on Sunday, Finance Minister Jarnadhan Sharma said that such customs duty has been reduced by 90 percent. Till the current Fiscal Year, 15 percent customs duty was levied on the import of sanitary pads used by women during menstruation.… Continue reading Govt reduce customs duty on sanitary pads

Kathmandu: The government has set a target of 8 percent economy growth for the next fiscal year. Preseting budget for the upcoming fiscal year Finance Minister Janardan Sharma said that the government has expected 8 percent growth on economy in upcoming fiscal year. Meanwhile, inflation will be limited to 7 percent this fiscal year, said… Continue reading Govt aims to achieve 8 pc economic growth

Kathmandu: The government has issued a budget of Rs. 1793.83 billion for the coming Fiscal Year 2022/23. Finance Minister Janardan Sharma presented the budget in Parliament on Sunday. According to Finance Minister Sharma, Rs 753.40 billion has been allocated for recurrent expenditure and Rs 380.38 billion for capital expenditure in the upcoming fiscal year. The… Continue reading Govt issue 1793.83 bn budget for upcoming fiscal year

Kathmandu: The policy and program presented at the House of Representatives in the Federal Parliament for the coming fiscal year has been passed by a majority. The policies and programs have already been passed by a majority in the National Assembly on Friday. As policies and programs have been passed by a majority in both… Continue reading House of representative pass ‘Policy and Programme – 2022/23’

Kathmandu: India has decided to ban sugar exports from its country with effect from June 1. The Directorate General of Foreign Trade of India has decided to ban the export of sugar and all its raw materials from June 1 to October 31 (four months). Following the deterioration of the international supply chain due to… Continue reading India bans sugar export