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Nepal

Pakistan’s first in-depth newspaper that presents balanced news reports, analysis and reviews regarding Customs, Federal Board of Revenue (FBR) and Sales/Income Tax Departments beside covering import and export sectors comprehensively. Up-to-the-minute news bulletins regarding Customs and FBR departments are also displayed regularly on both website and face book for the interest of common people

Revenue from land and house registration tax increases,

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KHATMANDU: According to the economic activities study report unveiled by Nepal Rastra Bank (NRB), 816,789 units of land and houses were registered in the last fiscal year, which was nine per cent higher than the previous fiscal. In fiscal 2015-16, a total of 749,310 units of land and houses were registered. Meanwhile, in fiscal 2014,15, 715,190 units of land and ... Read More »

An apple farmer’s sweet success in politics,

nepal

KHATMANDU: Gurung three years ago said goodbye to his lucrative hotel business in Thamel and returned to his village, setting his sights on making Manang the largest apple producing district. The apple farmer now has turned a full-fledged politician. On Friday, Gurung was elected to the federal parliament from Manang from the CPN UML ticket, securing 2,300 votes. He defeated ... Read More »

Nepal’s restive south votes,

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KHATMANDU: Nepalis began voting in the final round of parliamentary elections yesterday, a key step to complete a near decade long democratic transition after the abolition of the centuries old monarchy and the end of a civil war against Maoist guerrillas. The landmark election is being closely watched by neighbouring India and China, each hoping for a win for their ... Read More »

Profit of banks dipped heavily to 3 per cent in Q1

NEAPL

  KHATMANDU: Profit growth of commercial banks in the first quarter of this fiscal year slowed down heavily compared to the corresponding period of the previous fiscal. Commercial banks achieved profit growth of 3.06 per cent in the review period compared to around 45 per cent in the first quarter of the previous fiscal. Commercial banks had generated attractive profit ... Read More »

NRB retrieves Majority of NIC ASIA Bank Hacked Amount

nrb

KATHMANDU: Nepal Rastra Bank(NRB), the central banking authority of Nepal, reports that it has successfully retrieved a major portion of the amount that was hacked from NIC ASIA Bank’s SWIFT system. Unidentified cybercriminals had hacked the SWIFT system of NIC ASIA Bank during the Tihar vacation, when all the operation of banks remains closed. In banking history of Nepal, this ... Read More »

IMF projects deficits of $320b for Mideast oil exporters

NEPAL

  KHATMANDU: The Middle East’s oil producers are bracing for continued pressure from lower oil prices, with the International Monetary Fund projecting cumulative budget deficits of $320 billion over the next five years, according to a new report released on Tuesday. Approximately half of that amount — or $160 billion — will be sustained by energy-rich Gulf Arab nations between ... Read More »

New tax regime hits Nepal’s export to India

NEPAL

  KHATMANDU: Nepal’s export to India has been adversely affected after the enforcement of Goods and Services Tax (GST), as the export to India became costlier after the new rules were implemented. Export of major export items to India, which were enjoying zero duty or nominal tariff earlier, has dropped significantly, according to the Nepal Rastra Bank’s recent report. Export ... Read More »

Current account deficit soars to Rs 17.88 bln

CURRENT ACCOUNT DEFICIT

KATHMANDU: Rise in import bill and slow export growth coupled with stagnation in remittances have resulted in current account deficit of Rs 17.88 billion in the first two months of the current fiscal year 2017/18. This is the second straight month that the country logged current account deficit. In the first month of the current fiscal year, the country saw ... Read More »

Revenue collection rises in three months, surpasses target

NEPAL

  KHATMANDU: Revenue collection in the first three months of the current fiscal 2017-18 has increased  by 24 per cent in compared to the corresponding period last year. According to the Inland Revenue Department, the revenue collection till the month of Asoj (mid September – mid October) exceeded the target of 51.34 billion and reached 51.63 billion. Of the total ... Read More »

Government raises ceiling on land for industries

NEPAL

  KHATMANDU: Issuing the ‘Land Ceiling Exemption Order 2017’, the Ministry of Land Reform and Management (MoLRM) has eased the limitations on land purchase for industrial institutions. As per a provision of the order, educational or health sector-related institutions, hydropower projects, industries and cooperative farming programmes will be able to buy land in accordance to their need. However, the projects ... Read More »

Nepse rebounds 47 points as election preparation buoys investors

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KATHMANDU: Nepal Stock Exchange (Nepse) benchmark index jumped 46.59 points on Monday to close at 1,564.87 points. The stock market rebounded on the second trading day of the week by double-digit following a long slump after Dashain festival.  The single-day surge in the benchmark index was the highest in six months for a market that has recovered somewhat after a ... Read More »

Govt to launch export strategy of four products

NEPAL

  KHATMANDU: As a part of Nepal Trade Integration Strategy (NTIS) — the government’s strategy to boost the export of products that have niche market advantage — the Ministry of Commerce (MoC) has prepared export strategy of four products, namely, large cardamom, handmade paper, tea and coffee with an aim to improve the value chain of these products from production ... Read More »

NRB delays process of rolling out new interest rate corridor

nrb

KATHMANDU: The banking sector will have to wait for some more time to reap benefit from the remodelled interest rate corridor, as the Nepal Rastra Bank (NRB), the central bank, is still in the process of preparing the guideline to implement the refurbished system. Earlier, the NRB had said a “matrix” to operate the corridor had been approved and a ... Read More »

Animal skin smuggling racket busted, three held

NEPAL

  KHATMANDU: The Wildlife Crime Control Bureau (WCCB) here busted an animal skin smuggling racket on Tuesday and arrested three persons while trying to smuggle the skin of an endangered clouded leopard. The trio, including one from neighbouring Meghalaya, was nabbed while they were on their way to an agent from Manipur to sell the skin. The sleuths, who nabbed ... Read More »

Govt to conduct feasibility study of nine projects

NEPAL

  KHATMANDU: The government has begun the process for feasibility study of nine infrastructure-related projects in different parts of the country. With a plan to conduct a joint study of nine projects related to bridges, roads and a tunnel, Department of Roads (DoR) has finalised the consultant hiring process. The DoR is gearing up to initiate the study process under ... Read More »

AEPC provides Rs 60m for maintenance of micro hydro projects

NEPAL

  KHATMANDU: The Alternative Energy Promotion Centre (AEPC) has provided support for maintenance of 48 micro hydro projects, which were completely or partially damaged by the devastating earthquakes of April and May 2015. Out of the total 262 projects that were damaged, the AEPC has provided Rs 60 million to 48 projects in last two years for their maintenance. AEPC ... Read More »

Nepal’s revenue to GDP ratio highest among SAsian countries

NEPAL

  KHATMANDU: As the country’s revenue collection has recorded high growth each passing year, Nepal’s tax-to-GDP ratio has reached the highest among South Asian countries and is at par with emerging market economies like South Korea. According to the Ministry of Finance (MoF), the government collected revenue worth Rs 609.17 billion in the last fiscal, which was 23.8 per cent ... Read More »

Nepse up 6.89pts as market reopens

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KATHMANDU: The Nepal Stock Exchange (Nepse) index rose 6.89 points on Tuesday, the first day of trading after the week-long Dashain holiday, the biggest Hindu festival. A slight rise in demand for shares and few sell orders on account of the lingering festive mood has caused the country’s only secondary market index to rise slowly, said stockbrokers. Nepse opened at ... Read More »

WB to provide approx Rs 6b loan for vocational training

NEPAL

  KHATMANDU: The World Bank is to provide a loan assistance of approximately Rs 6 billion for the implementation of second phase of the Vocational Education and Training Project. The bank approved the loan on Sunday which it provided with the aim of promoting just access to technical education and vocational training through the improvement of these sectors in Nepal. ... Read More »

Chemical exporters appeal against India’s anti-dumping duty

NEPAL

  KHATMANDU: Two local companies have filed petitions with the Indian authority for reviewing the anti-dumping duty imposed on shipment of a textile chemical from Bangladesh, officials said. The move came early this month after India’s Department of Revenue on June 14 slapped anti-dumping duty of $27.81-$91.47 per tonne on export of hydrogen peroxide, a chemical used as bleaching agent ... Read More »