Money

Pharma producers hail ban on import of 37 medicines

Post Report, May 23 2017

The Association of Pharmaceutical Producers of Nepal (Appon) has welcomed the government’s move of imposing restriction on 37 medicinal products that are largely produced by domestic drugs manufacturers.
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Raw materials imports up as construction rebounds

Madhav Dhungana, May 23 2017

Imports through Bhairahawa customs point of raw materials needed to make cement and iron have swelled in recent days as post-earthquake reconstruction and construction of several national pride project have gathered pace.
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Recurrent spending to surge in 2017-18

Post Report, May 23 2017

The government’s balance sheet will show sharp rise in recurrent spending in the next fiscal year due to huge transfer of funds to local bodies, albeit this should not be interpreted as rapid deterioration in fiscal discipline, the Ministry of Finance has said.
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NRB plans issuing broker licences to banks

Post Report, May 23 2017

Nepal Rastra Bank (NRB) has formed a committee to study the possibility of issuing stockbroker licences to commercial banks. The central bank seems to be agreeable to the idea, as the Banks and Financial Institutions Act (BAFIA) has not spoken about barring commercial banks from providing stock broking services.
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PAC unconvinced by NTA’s explanation for issuing permit

SANJEEV GIRI, May 23 2017

The parliamentary Public Accounts Committee (PAC) has expressed serious reservations over the clarification given by the Nepal Telecommunications Authority (NTA) for issuing a 4G licence to Ncell despite its objections.
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‘IC exchange facility beyond our ability’

BIBEK SUBEDI, May 23 2017

Nepal Rastra Bank (NRB) has said that providing exchange facility to Nepalis holding demonetised Indian 500 and 1000 rupee banknotes is beyond its capacity.
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