1. NRB annuls cash margin requirement for import– Nepal Rastra Bank (NRB) has removed the provision of cash margin, which importers need to maintain against their letters of credit. Earlier, they were required to maintain a cash margin of 5–10% of the value of goods. (Source: https://myrepublica.nagariknetwork.com/news/nrb-annuls-cash-margin-requirement-for-import/) 2. Illegal crushers…

1. Nepal-France Bilateral Consultation concludes On January 17, the third meeting of the Nepal-France Bilateral Consultation Mechanism was held in Kathmandu. Nepal has asked for support in its transition strategy and achieving its aim of graduating the LDC category by 2026. (Source: https://myrepublica.nagariknetwork.com/news/third-meeting-of-nepal-france-bilateral-consultation-mechanism-concludes/ )

1. Banks to the lower interest rate from mid-January Nepal commercial banks are likely to reduce the current interest rates on deposits from 8 January. The reduction comes after the banks were replenished with surplus liquidity. The interbank rate has also fallen to 6.14% from around 8%. (Source: https://myrepublica.nagariknetwork.com/news/banks-ready-to-lower-interest-rate-from-mid-january-nba/) 2…

Home and Finance Ministries work to control revenue Nepal’s revenue collection has fallen significantly short of its target in the first five months of the fiscal year. The government had aimed to collect NPR 1,403 billion in revenue for the fiscal year but has only collected 23% of this. …

1. NRB rescinds the 100% margin provision — Nepal Rastra Bank (NRB) has withdrawn its decision to keep a 100% margin provision on selected items such as construction material and expansible polystyrene goods imports. (Source: https://kathmandupost.com/money/2022/12/03/central-bank-eases-100-percent-margin-provision-on-some-items) 2. Seven-month-old import ban on luxury goods lifted — To meet the conditions suggested…

NEA opens bid to purchase solar electricity — Nepal Electricity Authority (NEA) has called for interested firms to submit their Letter of Intent in a bid to purchase 100 MW of electricity generated by solar power plants. (Source-https://myrepublica.nagariknetwork.com/news/nea-to-purchase-100-mw-of-electricity-from-solar-power-through-competitive-bidding/ Apples to be exported from Mustang — Apples worth NPR 500 million…

1. DoT collects NPR 93 million in royalties– The Department of Tourism (DoT) has collected over NPR 93 million in royalties from issuing 1,435 climbing permits for this year’s autumn climbing season. (Source: https://thehimalayantimes.com/business/dot-collects-rs-93-million-in-royalties) 2. Import ban under review– Nepal is reviewing its import ban on luxury products after concerns…

Merger Company’s share transaction prohibited The Securities Board of Nepal (SEBON) has enforced a directive that prohibits the transaction of shares of the companies that enter the process of merger or acquisition. The share transaction will be suspended for a maximum of 15 working days. (Source: SEBON now decides to…