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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

India withdraws additional customs duties on jute goods import from Nepal

NEPAL

KHATMANDU: India has withdrawn additional customs duties levied on import of jute products from Nepal. The anti-dumping duty, however, continues. A Gazette notification on April 20, said Nepal is eligible to get exemptions from additional duties on jute sacks and bags similar to Bangladesh which was granted the exemption in February 2011. “In the said notification (February 14, 2011), after ... Read More »

Economy to grow by nearly 7% this fiscal

NEPAL

KHATMANDU: The country’s economy is expected to grow by 6.94 per cent in this fiscal due to improved agriculture production, rise in manufacturing output along with regular supply of electricity, low base of last fiscal, and a low number of strikes and bandhs, the Central Bureau of Statistics (CBS) said in its preliminary growth forecast for this fiscal today. The ... Read More »

India withdraws additional customs duties on jute goods import from Nepal

jute

KOLKATA: India has withdrawn additional customs duties levied on import of jute products from Nepal. The anti-dumping duty, however, continues. A Gazette notification on April 20, said Nepal is eligible to get exemptions from additional duties on jute sacks and bags similar to Bangladesh which was granted the exemption in February 2011. “In the said notification (February 14, 2011), after ... Read More »

Private sector seeks production sector-friendly tax policies

NEPAL

KHATMANDU: The private sector players of the country have urged the government to introduce production sector-friendly tax policies to advance the economy. Citing that tax policies have curbed the incentives announced by various other laws and policies, the private sector representatives said that friendly tax policies, infrastructure development, stable interest rate on the loans are the fundamentals for economising the ... Read More »

MoI plans to focus on ‘entrepreneurship’

NEAPL

KHATMANDU: The two-day ‘Start-up Summit’, which is scheduled to be held in Kathmandu on June 7-8, will focus on entrepreneurship development in Nepal, according to the government. Organising a press conference in the Capital today, Ministry of Industry (MoI) the organiser of the event  informed that the summit will bring together more than 300 domestic youths and different other private ... Read More »

Restriction on auto loans affects pvt car business

NEPAL

KHATMANDU: There has been visible impact on automobile business, especially on the sales of private cars, following the central bank’s decision restricting banks and financial institutions (BFIs) from extending auto loans of over 50 per cent of the value of the vehicle to customers. Through the mid-term review of the Monetary Policy in February, Nepal Rastra Bank (NRB) had fixed ... Read More »

Nepal to better utilise duty-free facility of the US

NEPAL

KHATMANDU: The third round of Nepal-USA Trade and Investment Framework Agreement (TIFA) council meeting concluded here today with an agreement to expand bilateral trade and bring in investment from the world’s largest economy. The meeting, led by Commerce Secretary Naindra Prasad Upadhyay from the Nepal government, and Mark Linscott, assistant trade representative from the United States Trade Representative Office, discussed ... Read More »

General Motors says Venezuela illegally seizes auto plant

NEPAL

KHATMANDU: General Motors said on Wednesday that Venezuelan authorities had illegally seized its plant in the industrial hub of Valencia and vowed to “take all legal actions” to defend its rights. The seizure comes amid a deepening economic crisis in leftist-led Venezuela that has already roiled many US companies. “Yesterday, GMV’s (General Motors Venezolana) plant was unexpectedly taken by the ... Read More »

Govt plans to frame umbrella economic policy

NEPAL

KHATMANDU: The government plans to introduce an umbrella economic policy for federal Nepal and all the sectoral polices will be aligned with the umbrella policy to move towards higher economic growth trajectory, according to Deputy Prime Minister and Finance Minister Krishna Bahadur Mahara. Addressing the inaugural session of the ‘Interaction Programme on Formulation of Economic Policy of Federal Nepal’ organised ... Read More »

MoI unveils priority areas for next fiscal year

NEPAL

KHATMANDU: With less than one-and-a-half months left for the government to unveil the annual budget for the fiscal year 2017-18, the Ministry of Industry (MoI) today announced its priorities in the new budget, which are aimed at economic prosperity of the country. The priority list maintained by MoI for the upcoming budget vows to introduce different programmes and projects through ... Read More »

Nepal Airlines Corporation puts Boeing 757 on auction

NEPAO.

KATHMANDU: The national flag carrier, Nepal Airlines Corporation, has announced a global tender for the auction sale of one of its Boeing 757 aircraft on “as is where is” basis. The minimum auction price for the B757-200 9N-ACA aircraft, which was manufactured 30 years ago, has been set at USD 1.71 million. NAC asked the interested parties to submit a ... Read More »

WB extends $100m budgetary support

NEPAL

KHATMANDU: The Ministry of Finance today signed an agreement with the World Bank Group (WBG) to obtain development policy credit worth $100 million from the WBG. The government of Nepal has been receiving such budgetary support from the World Bank through the Development Policy Credit (DPC) window to implement policy reforms in the financial sector, which is critical to enhance ... Read More »

Nepal Airlines Corporation puts Boeing 757 on auction

NEPAL

KATHMANDU: The national flag carrier, Nepal Airlines Corporation, has announced a global tender for the auction sale of one of its Boeing 757 aircraft on “as is where is” basis. The minimum auction price for the B757-200 9N-ACA aircraft, which was manufactured 30 years ago, has been set at USD 1.71 million. NAC asked the interested parties to submit a ... Read More »

Asian stocks struggle, dollar shines as geopolitical risks grow

NEPAL

KHATMANDU: Asian stocks slipped on Monday as increased geopolitical risks prompted investors to favor safe-haven bets such as government debt while the dollar drew support from Federal Reserve policy tightening expectations. European markets were set to follow in Asia’s footsteps with index futures pointing to a broadly flat start. The cautious backdrop – fed by increasing geopolitical tensions in the ... Read More »

MoI to set up fund to manage CSR activities of domestic firms

NEPAL

KHATMANDU: The Ministry of Industry (MoI) today announced it is setting up Children Welfare Fund to work for the betterment of children from marginalised communities in remote areas of the country. The fund, which will come into effect from April 16, aims to make the corporate social responsibility (CSR) activities of domestic industries more effective and accessible to needy sections ... Read More »

Beverage giant Coca-Cola seeks USD1m for Nepal blockade damages

nepal

KATHMANDU: Beverage giant, Coca-Cola Co., has filed a petition in the US against its insurers, demanding coverage for USD 1 million in losses incurred during the Nepal-India border blockade from the third week of September 2015 to the first week of February 2016. The American multinational company hit Lloyd’s of London and another insurer with a suit in Georgia federal ... Read More »

Nepal to import more electricity to get rid of power crisis

NEPAL

KHATMANDU: The NEA has so far imported electricity worth Rs 9.68 billion from India in the first nine months of the fiscal year 2016-17. It is projected that additional power worth Rs 6 billion would be bought from India in three months. At a press conference organised here on Tuesday, NEA Chief Executive Officer Kul Man Ghising informed that power ... Read More »

Nepal can export power from April 2019

export

KATHMANDU: Nepal Electricity Authority Managing Director Kulman Ghising says Nepal can start exporting power to Nepal countrues as early as April 2019. Ghising says Nepal will have excess power during the rainy season after 456 MW Tamakoshi hydropower project comes into operation in November 2018. The NEA chief said after Chameliya and Kulekhani III come into operation by the end ... Read More »

NEA cuts down on energy imports as output swells

nea

KATHMANDU: The Nepal Electricity Authority (NEA) has started cutting down on energy imports from India with domestic producers boosting output helped by rising water levels in the rivers. The state-owned power utility has decreased imports over the Dhalkebar-Muzaffarpur cross-border transmission line by 10 MW to 135 MW.  Similarly, electricity imports through other cross-border transmission lines have dropped. “Currently, total electricity ... Read More »

Toyota recalls 2.9m vehicles globally over airbags

NEPAL

KHATMANDU: Toyota Motor Corp (7203.T) on Thursday said it was recalling a total of about 2.9 million vehicles in Japan, China, Oceania and other regions including its Corolla Axio sedan and RAV4 SUV crossover due to potentially faulty airbag inflators. Fuji Heavy Industries (7270.T), the maker of Subaru cars, Mitsubishi Motors Corp (7211.T) and truck maker Hino Motors (7205.T) also ... Read More »