Telecom wants to use Dharahara for commercial purpose for 30 years after reconstruction

Kathmandu, August 9 Nepal Telecom says it wants to manage the historic Dharahara for commercial purpose for the first 30 years after its reconstruction. The nine-storey historic tower built by Prime Minister Bhimsen Thapa in early 19th century had collapsed during the magnitude-7.6 earthquake on April 25, 2015. The telecommunication company has proposed to rebuild the historic structure at an investment of Rs eight billion and operate it for commercial purpose for next 30 years so as to recover...

Number of five-star hotels in Nepal to double in next two years

Kathmandu, 7 August The number of five-star hotels in Nepal is likely to double in next two years as the investment in hospitality sector is promisingly increasing. Currently, there are 10 five-star hotels across the country and new hotels in the same number are being established within next couple of years. The Hotel Association of Nepal (HAN) says Rs 27.05 billion is being invested in these under-construction projects. Three of these hotels will be established in Kathmandu, one in...

Fear of load shedding in winter is valid, says Kulman Ghising

Kathmandu, August 7 Nepal Electricity Authority’s Managing Director Kulman Ghising says people’s doubts and suspicions if the regular power outage will recur in the upcoming winter are valid as the Authority could not implement its multiple plans to avoid the crisis. He says the Authority’s attempts to increase production and decrease demand and consumption failed owing to lack of cooperation from various sectors and stakeholders, therefore the state-owned power monopoly may not be able to meet the demand during...

Nepse gains steam, up 14.05

Aug 6, 2017- Nepal Stock Exchange (Nepse) rose 14.05 points to close at 1,660.58 points last week, as banks started reducing the lending rate and most of the listed companies posted good financial report, increasing investor confidence. The secondary market that opened at 1,646.53 points on Sunday, declined 3.25 points to close at 1,643.28 points. On Monday, the market gained 9.41 points to close at 1,652.69. The market followed an upward trend on Tuesday and Wednesday, gaining 7.56 points...

KMC overshoots internal revenue target with a whopper

Kathmandu, August 2: The Kathmandu Metropolitan City (KMC) overshot its internal revenue generation target by a large margin after raising the due amounts pending for too long. The KMC collected Rs 321 million more than the set target. It had earlier set its eyes on collecting Rs 1.46 billion in the fiscal year 2016/17, but went on to collect Rs 1.87 million. All of the due money was raised this year as compared to the preceding fiscal year, which...

District hospital sets up affordable pharmacy

Dhankuta, August 1: The District Hospital, Dhankuta has started operation of an affordable pharmacy driven with a policy of providing relief to patients coming from poor economic background. In the backdrop of 70 different types of medicines provided by the government for free, the hospital set up the affordable pharmacy on Monday targeting the poverty-stricken patients. Hospital’s Dr Madan Kumar Upadhyaya said the pharmacy will offer 10 per cent discount on medicines with high costs for all kinds of...

Rs 40 million grants distributed to quake survivors

Babiyachaur (Myagdi), July 30: Grants amount over Rs 40 million were distributed to the earthquake survivors of Myagdi district for the reconstruction of private houses. The first-tranche of grants was deposited to the bank accounts of local beneficiaries whose houses were completely damaged in and aftermath of the 25 April 2015 earthquake. Information Officer at the District Coordination Committee Padma Bhandari shared that total amount of Rs 42.25 million was distributed to 845 households of Myagdi at the rate...

Rs 1.3 million handed over to set up Khairkendra Community Homestay

Kanchanpur, July 23: The Trishakti Buffer Zone Consumers Committee and the National Trust for Nature Conservation on Saturday handed over Rs 1.3 million for establishment of Khairkendra Community Homestay at Shuklaphanta municipality – 3. The Homestay will be set up as part of the Shuklaphanta Conservation Programme. Shuklaphanta municipality’s Mayor, Dil Bahadur Aire, handed over a cheque carrying the amount to Home Stay Chair, Puran Chaudhary. Aire said that homestay scheme is a medium of self-employment and that it...

Rs 10 billion graft case against three TSC members filed

Kathmandu, July 16: The Commission for the Investigation of Abuse of Authority (CIAA) today filed an over Rs 10 billion graft case at the Special court against three members of the Tax Settlement Commission (TSC). TSC Chairman LD Mahat, member Umesh Dhakal and Member Secretary Chudamani Sharma, also the suspended Director General of the Inland Revenue Department have been accused of misappropriating revenue and tax settlement in a dubious way. Sharma is in CIAA’s custody at present while Mahat...

Finnish govt agrees to provide Rs 2.36 billion grant

Kathmandu, July 14: The Government of Finland has agreed to provide Rs 2.36 billion grant assistance (20 million Euro) for the implementation of School Sector Development Programme (SSDP). An agreement to this effect was signed and exchanged between Joint Secretary of the Ministry of Finance Baikuntha Aryal and Finnish ambassador to Nepal Jorma Suvanto on behalf of their respective governments, amid a programme at the Ministry of Finance in Kathmandu today. The SSDP is a continuation of School Sector...

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