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NRB launches economic revival fund of Rs 100 billion
Source: RSS

NRB launches economic revival fund of Rs 100 billion

Nepal Rastra Bank (NRB), the central bank, today formally launched 100-billion-rupee Economic Revival Fund (ERF) through which interest subsidy and refinancing facility would be extended to borrowers of the productive sector. The Fund was created to aid various sectors of the economy hit by the earthquakes of April and May and supply disruptions along the Nepal-India border points. Issuing a...


Inflation at 40-month high of 11.6 pc
Source: RSS

Inflation at 40-month high of 11.6 pc

Prices of consumer goods surged by an average of 11.6 per cent in December, the highest in the last 40 months, as prolonged protests in the Tarai and supply disruptions along Nepal-India border points made goods and services expensive. The last time prices had jumped to this level was in August 2012, when inflation stood at 11.9 per cent. Since then prices had started coming down.And between Ja...


55 cooking gas bullets rerouted to Nepal from Raxaul
Source: RSS

55 cooking gas bullets rerouted to Nepal from Raxaul

As many as 55 cooking gas bullets stuck in Raxaul of India, following the ongoing agitations at the Nepal-India border point, are being rerouted into Nepal, officials at the Regional Office of Nepal Oil Corporation in Birgunj said. They said that preparations were underway to reroute the gas bullets through Sunauli and Jogbani border points. They added that 50 of 55 gas bullets already left ...


Country seeks India’s support for waiver of demurrage charges
Source: RSS

Country seeks India’s support for waiver of demurrage charges

The country has sought the support of neighbouring India for waiver of the demurrage and detention charges being imposed on Nepal-bound cargoes by shipping liners and container freight stations (CFS) in India. Cost of trade has been increasing rather steeply as Nepal-bound cargoes have been stranded at the Kolkata Port yard, private CFS and at the border points due to the ongoing border-blockad...


70 trucks carrying drugs stuck in Raxaul
Source: RSS

70 trucks carrying drugs stuck in Raxaul

Seventy trucks carrying medicine worth around Rs 450 million are stuck in the Indian town Raxaul across the Nepal-India border due to the ongoing agitation called by the Madhes-based parties. The trucks that have arrived at the transit point in Birgunj have not been able to enter Nepal due to the agitation and the ongoing blockade at entry points. As a result of blockade, health centres across ...


Thriving black market pollutes country’s fragile economy

Deputy Prime Minister and Foreign Affairs Minister Kamal Thapa made an utterly appalling statement yesterday. During an interaction held by Nepal Chamber of Commerce, he said people engaged in black-marketing were supporting the government, which was facing difficulties in normalising the supply situation due to disruptions at Nepal-India border points. The statement made by the person, who ...


UDMF may ease border obstruction
Source: RSS

UDMF may ease border obstruction

Chairman of Tarai-Madhes Democratic Party Mahantha Thakur today said the United Democratic Madhesi Front might consider changes in their agitation, including obstruction on Nepal-India border, to press the government to address their demands. Addressing a function here today, Thakur said the UDMF would consider changes in the ongoing border obstruction while planning new phase of its agitation ...


Rajendra Mahato injured as police intervene in sit-in

Tension ran high at Rani Customs in Biratnagar after a group of cadres led by Chairman of Sadhbhawana Party Rajendra Mahato, who entered Nepal from India, tried to stage sit-in at no mans land at Nepal-India border. Mahato, who had reached Jogbani, India to attend a function, attempted to stage sit-in at no mans land while returning home. Police inverted after the protesters neglected re...


India welcomes Nepal govt’s decision to advance Constitution Amendment Bill

India on Monday welcomed the Government of Nepals decision to advance the Constitution Amendment Bill in order to ensure proportional inclusion and election constituencies on the basis of population, and resolve the current crisis in Tarai-Madhes region. Issuing a statement today a day after the Cabinet endorsed a three-point roadmap to address the demands put forth by the agitating Madhesi par...


Morcha announces fresh protests
Source: RSS

Morcha announces fresh protests

Miffed at what it calls lack of seriousness shown by the government to address its concerns, the Samyukta Loktantrik Madhesi Morcha has announced a series of fresh protest programmes. The SLMM, an alliance of four Madhes-based parties, has said that it will organised sit-ins, general strikes and peaceful demonstrations and will resort to civil obedience in the coming days. The alliance, which h...


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