Nepal Oil Corporation (NOC) said gasoline stations in the Kathmandu Valley would start distributing fuel regularly from Saturday.
Nepal’s sole international airport Tribhuvan International Airport (TIA) has undergone massive changes after the government started conducting regular inspections amid scathing media reports about bad service, but retrieving one’s luggage at the arrival lounge remains a nightmare.
Supply Ministry is normalising distribution of petroleum products from Friday. The ministry said it would also be scrapping the quota system that the government has been imposing on the fuel supply.
Fuel import highest since Oct end
Import of petroleum products through the Birgunj-Raxaul border point on Tuesday surged four times than the consignment on Monday.
Expediting construction/reconstruction of hydropower projects affected by earthquake, developing at least one storage-type project and upgrading cross-border transmission lines will be major focus of the planned Energy Emergency.
Airfares drop sharply, except in Nepal
Free falling oil prices have led to a sharp drop in airfares worldwide, but travellers in Nepal have not been able to enjoy this pleasant turn of events.
As businessman Ajeya Raj Sumargi continues to lobby with political parties to get approval from Nepal Rastra Bank (NRB) to bring around Rs11 billion from abroad, the central bank has said that it would provide clearance only if Sumargi produces documents
Kush Kumar Joshi, chairman of Nepal Purbadhar Bikas Company Limited (NPBCL) that had received approval from the government to develop the ambitious Kathmandu-Hetauda Tunnel Highway, has resigned from his post
The Nepal Stock Exchange (Nepse) dipped 3.51 points to close at 1,216.11 points last week.
Inflation has jumped to a 40-month high of 11.6 percent, thanks to the prolonged Tarai unrest which led to disruptions in transport system through southern parts of the country, according to the Nepal Rastra Bank.
Birgunj Chamber of Commerce and Industry (BCCI) has said around 1,000 Nepal-bound cargo containers have been stuck at India’s Kolkata Port for over a week.
Tight laws in offing against banking fraud
Parliament has been considering an amendment to the Banking Offence and Punishment Act that will put Dhukuti and cooperative operators convicted of embezzling money in jail for up to 10 years.
Power shortages cripple industries
Nepal has been placed at the number one spot in the list of 10 countries to visit this year by UK-based Rough Guides, one of the leading travel publishers in the world.
Petroleum imports rose in the fifth month of the fiscal year after India loosened its stranglehold on shipments for the first time since imposing a devastating trade embargo on September 22.
The Nepal Electricity Authority (NEA), the state-owned power utility, is gearing up to import additional 90 megawatt (MW) of electricity from India by January end in view of easing off the power outage in the country.
International passenger traffic through Tribhuvan International Airport (TIA) dropped 6 percent to 2.66 million in the first 10 months of 2015, largely due to the April 25 earthquake and a shortage of aviation fuel resulting from India’s trade embargo against Nepal.
In a bid to boost arrivals from the north, the Cabinet on Friday decided to waive the fee for Chinese visitors—a facility enjoyed only by visitors from Saarc countries so far.
Nepal Oil Corporation (NOC) has planned to obtain bullets suitable for transporting liquefied petroleum gas (LPG) from China as it is close to signing a commercial supply deal with the northern neighbour, officials said.
LPG dealers warn of halting sales
Dealers of liquefied petroleum gas (LPG) on Wednesday warned they would stoop selling cooking gas if the government failed to provide security.
The private sector has asked the government to waive visa fees temporarily to keep Nepal’s tourism industry alive as it is close to collapsing after being hit by a series of bad luck this year.
Nepal has been placed at a low 118th out of 144 nations on Forbes' annual list of the best countries for business in 2015.
The fate of four hydropower projects with a combined capacity of 560 MW is in limbo due to fuel shortages, lack of coordination with contractors and indecision among stakeholders.
Nepal’s paddy output has been projected to fall sharply by 10.22 percent to 4.29 million tonnes this fiscal year, swelling the food deficit, widening imports and putting pressure on market prices.
Tribhuvan International Airport (TIA) was all spick and span on Tuesday, a dramatic turnaround from the disaster zone described in the inspection report prepared by a government fact-finding mission a week earlier.
The government has planned to distribute gasoline to private vehicles next week, and it has also developed software to implement a queue system and prevent petrol stations from being overrun by frenzied motorists.
A fact-finding committee under the Tourism Ministry has exposed the Tribhuvan International Airport (TIA), the country’s sole international aerial gateway, plagued with varied problems.
Nepal has sought an additional 6,000 tonnes of diesel, petrol and aviation fuel and 5,000 tonnes of cooking gas in grant from China.
The government is preparing to formally request China to expand the Dhulekhel-Tatopani section of the Araniko Highway.
Nearly 2,000 factories in the country’s industrial heartland, the Bara-Parsa Industrial Corridor, have been shut down due to lack of raw materials as shipments from India have stopped due to the Tarai unrest.
Nepal Rastra Bank (NRB) has directed the bank and financial institutions to bear the cost of police investigation on banking fraud cases.
Nepal imported agro products worth Rs137.12 billion in the last fiscal year 2014-15, setting off concern that the agrarian country’s dependence on imported farm products was ballooning out of control.
Industrialist Banwari Lal Mittal, best known for pioneering commercial helicopter services in Nepal, passed away at his residence in Gyaneshwor on Wednesday. He was 79.
The Ministry of Energy (MoE) has been preparing to declare an energy emergency lasting three to five years as per the government’s plan to make the country self-reliant in energy by cutting red tape and launching a rush programme.
Nepal Rastra Bank (NRB) has tightened controls on the exchange of Indian currency amid an unwarranted surge in demand and a growing trend of selling it on the black market.
The government on Thursday named a seven-member team to sign the first commercial oil deal with Petro-China in Beijing this week. The delegation will “probably” leave for Beijing on Friday.
More than 50 percent of domestic flights will not take off on Friday after being denied enough fuel by the Nepal Oil Corporation (NOC) on Thursday.
NEA planning to increase load-shedding hours
The Nepal Electricity Authority (NEA) has been considering extending the load-shedding hours as demand for electricity has been swelling significantly with the approach of the winter season.
Pointing out Nepal’s overdependence on India as the main reason behind the massive impact of unofficial Indian embargo on Nepal, Prime Minister KP Sharma Oli on Sunday stressed on the need to learn from this fact.
The Tihar festival has become an expensive affair for many Nepalis as prices of almost all household commodities have skyrocketed with black marketers apparently holding sway.
The Asian Development Bank (ADB) has said it is willing to provide aid to establish a large-scale solar plant in Nepal which is in the midst of a fuel crisis.
Prime Minister KP Sharma Oli has dropped a hint that the unofficial trade embargo could prolong as the ongoing Tarai unrest has been “backed by India”.
The construction work of various national pride projects like the Mid-Hill Highway and the 900 MW Upper Karnali besides a number of small hydro projects in Naumule has been affected due to the fuel crisis caused by India’s unofficial blockade.
The Nepal Oil Corporation (NOC) has signed contracts with two private companies—Birat Petroleum and Petromax Nepal—to supply petroleum products to the state-owned oil company.
Householders in Pokhara were able to buy cooking gas for the first time on Wednesday since dealers ran out of stock one and a half months ago after India stopped shipments.
Hotel occupancy rates dropped from bad to worse in October with hotels experiencing their steepest decline since the Maoist insurgency as every sector of the economy went haywire due to the fuel scarcity.
The government has directed the LPG dealers to provide the details of cooking gas, including its amount imported from India, to the Nepal Oil Corporation (NOC).
Nepal Oil Corporation (NOC) will be distributing petrol to private automobiles in the Kathmandu Valley for three days from Thursday.
Consumers can purchase half-filled cooking-gas cylinders from Saturday, LPG bottlers have said.The Commerce Ministry on Wednesday had decided to allow bottling companies to distribute half-filled cylinders (7.1kg) of liquefied petroleum gas (LPG).
The Chinese manufacturer of the MA60 and Y12e aircraft delivered to Nepal Airlines Corporation (NAC) last year has sent a revised performance chart as the two planes did not meet the performance specifications sent earlier.
Nepal Oil Corporation (NOC) said that 100 tonnes of petrol gifted by China would be transported from the Kyirong-Rasuwagadhi border to Kathmandu on Saturday.
The festival season has failed to bring cheer to the apparel and footwear sector as the annual sales bonanza did not materialise due to the long-running Tarai unrest and border blockade.
Locals outraged by a prolonged shortage of cooking gas have camped outside the Kathmandu Metro bottling plant at Thakre, Mahadevsthan and prevented shipments to Kathmandu.
The market has started running short of daily essentials as unrest in the Tarai and an unofficial Indian blockade tightens the stranglehold on the country.
Nepal Rastra Bank (NRB) has extended the loan repayment deadline for borrowers by one year and relaxed provision of loan loss provisioning considering the uneasy situation caused by long-running Tarai banda and undeclared Indian embargo.
The Global Federation of Nepali Literature Central Committee on Thursday honored Non Resident Nepali Association (NRNA) President Shesh Ghale with the Best Rescuer Honour for contribution in rescuing the victims of the massive 'Gorkha Earthquake' which struck Nepal on April 25.
A black market in cooking gas has emerged along the Prithvi Highway in Dhading with hotels and restaurants being forced to pay double due to an extreme scarcity created by the blockade by India.
Non-Resident Nepali Association (NRNA) President Shesh Ghale was re-elected to the post on Thursday.
Consumer electronics brands have launched various schemes and offers to boost sales during the festive shopping season amid gloomy market conditions triggered by fuel shortages and closure of border points.
Nearly two dozen workshops that specialise in making khukuris, popularly known as Gurkha knives, have been shut down in the eastern region
Three candidates are likely to compete in the Non-Resident Nepalese Association (NRNA) presidential race.
Haphazard distribution of paddy saplings has irked farmers in Dhading while the free saplings distributed by Sana Kishan Cooperative to earthquake survivors have failed to generate the expected result.
The National Planning Commission (NPC) has asked various government agencies to increase the oil storage capacity fourfold after the undeclared blockade by India exposed Nepal’s precarious supply lines
Travelling by public vehicles is not going to be an easy affair for the general people during this festive season. With the blockade imposed by India and the unrest in the southern plains causing an acute fuel shortage, people returning to their villages for Dashain, the most widely celebrated Hindu festival in the country, are likely to encounter a scarcity of vehicles.
Domestic airlines have been facing an extremely high traffic load as a large number of people working or studying in the Kathmandu Valley have started returning home to celebrate Dashain with their families.
The government has hiked travel allowances for government officials for both foreign and domestic trips.
The fuel shock has understandably hit the automobile sector the hardest, as nobody would want to buy a new car when you can’t get gasoline for love or money.
Private dairies have announced that they will be shutting down on Monday for lack of fuel.
Allowing cooperatives and micro finance institutions (MFIs) to provide debit card and remittance transfer facilities will help to expand financial access
PM election boosts private sector hopes
The election of a new Prime Minister has raised the hopes of the private sector that the ongoing political turmoil in the southern part of the country will soon be resolved.
Nepal Oil Corporation (NOC) has said its sole supplier Indian Oil Corporation (IOC) has pledged to increase petroleum supply from Monday.
Nepal Stock Exchange (Nepse) last week plunged 21.42 points amid political crisis and India’s undeclared trade embargo.
Finance Minister Ram Sharan Mahat has said the country is unlikely to achieve the economic growth target for this fiscal year due to the ongoing political turmoil.
Nepal Oil Corporation (NOC) has claimed it has enough petroleum stock to ensure that the people won’t have difficulties in travelling to their home towns to celebrate the Dashain festival.
Aviation fuel crisis at Tribhuvan International Airport (TIA) caused by the unofficial trade blockade imposed by India has hit yet another Chinese airline.
Nepal Airlines Corporation (NAC) on Thursday dispatched its Boeing 757 to Kolkata to pick up aviation turbine fuel to recharge the depleted reserves of Nepal Oil Corporation (NOC) amid worries that continued shortages due to the blockade by India could ground domestic carriers.
Severe fuel shortage has started hitting the telecommunications sector. Particularly, Internet services will be affected the most if the situation prolongs.
The June 2 crash of a helicopter of Mountain Helicopters was caused by distraction by a passenger and the pilot’s failure to react effectively to an unfamiliar geographical situation, the Tourism Minister said on Thursday in its final report on the disaster.
The Asian Development Bank (ADB) has approved a new $15 million grant to rebuild schools, provide micro loans to help restore livelihoods, and to boost awareness of disasters in the 14 districts most severely affected by the recent earthquakes in Nepal.
Handicrafts Trade Fair 2015 is scheduled to open at Bhrikuti Mandap Exhibition Hall on November 26.
Petroleum products entering the country illegally through Rupaidiha across the border from Nepalgunj are being dispatched to various districts where there is an acute fuel scarcity.
Domestic airlines slash fares
Domestic airlines have launched Dashain offers by slashing more than 50 percent off inbound airfares from major Tarai destinations.
Nearly 300 trucks, including 91 oil tankers and 12 cooking gas bullets, entered Nepal through various customs points on Wednesday.
The sixth edition of the Made in Pakistan expo kicked off at the United World Trade Centre on Tuesday.
Strikes and fuel shortage hit dairy farmers hard
Dairy farmers in Makawanpur have been heavily affected by ongoing Tarai banda, with collection centres not purchasing milk citing lack of transport services to supply dairy products to major markets.
3 state-backed banks reopen
Three large state-backed banks have reopened 127 out of the 284 branches that were closed during the 1996-2006 conflict in a bid to expand their services.
A delegation representing the private sector met with Prime Minister Sushil Koirala on Tuesday and urged him to take the lead in resolving the unofficial blockade by India and the unrest in the Tarai.
Privately-built hydropower projects that were knocked out by the April 25 earthquake have not been able to resume operations even though more than six months havepassed since the disaster
The fuel crisis created by the unofficial blockade of Nepal by India has launched a discourse on the country’s energy security.
Dealers of electric vehicles (EVs) are hopeful the fuel shortages will prompt the people to opt for EVs.
Benyamin Ismail is the CEO of AirAsia X, a Malaysian low-cost airline which entered the Nepali market in June 2012.
Ministry of Commerce and Supply has asked the Chinese government to supply petroleum products of Euro III standard.
Until a few years ago, apples produced in Jumla had to be dumped for lack of buyers while the market was flooded with imported fruits, particularly from India.
The Kathmandu Valley is likely to face a shortage of drinking water after a few days as most bottled water factories have cut supplies and some have even shut down operations due to lack of diesel.
Govt studying options to airlift aviation fuel
The government on Wednesday formed a committee to recommend options to fly in aviation fuel for domestic airlines amid mounting fears that the country’s airlines could be grounded for lack of fuel.
Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has asked the Nepal Rastra Bank (NRB) to extend the deadline for first quarter instalment payment until the second quarter-end
Ministry requests Chinese side for speedy maintenance
Ministry of Commerce and Supply (MoCS) on Wednesday requested the Chinese side for speedy maintenance of the Rasuwagadhi-Keyrung route to enable bilateral trade.
Nepal Rastra Bank (NRB) has given the final approval to the planned merger of NMB Bank with Bhrikuti Development Bank, Pathibhara Development Bank, Clean Energy Development Bank and Prudential Finance.
Bicycle sales in the Kathmandu Valley have soared as the fuel crisis has worried people enough to give serious thought to shifting to manually powered means of transportation.
The government on Wednesday formed a committee to recommend options to fly in aviation fuel for domestic airlines amid mounting fears that the country's airlines could be grounded for lack of fuel.