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Growing fears of Nepal falling into the foreign debt trap as outstanding foreign debt increases. The country's economy is in a recessionary phase, raising concerns about servicing the debt. . . . Read more »
The New Business Age magazine has been in operation for 21 years. The magazine has covered the triumphs and turbulences of Nepal's politics and economy over the past 21 years. The passage discusses . . . Read more »
The workforce retention problem in Nepal is a long-standing national issue, with an increasing number of young Nepalis leaving the country for education or employment abroad. Efforts to address the . . . Read more »
Despite numerous complaints about the state of the country's economy from various . . . Read more »
As highlighted in the cover story of this issue of New Business Age (Pages 16-22), the Nepali economy is facing multiple challenges that require urgent attention. . . . Read more »
A campaign of sorts has begun against microfinance businesses. A group of people are claiming that microfinance companies are using intimidating practices in loan . . . Read more »
The Nepal government is notorious for keeping white elephants which incur large ownership costs but do not generate revenue. Unfortunately, the government seems unable to form any idea how and when . . . Read more »
While the country’s banking system data indicates that the sector is coming out of the quagmire it was in due to the lack of loanable funds, the government statistics on finance are ringing alarm . . . Read more »
The general elections are over, and the private sector is likely to resume its protest against the banks and financial institutions demanding a reduction in interest . . . Read more »
The Election Commission is holding elections for the House of Representatives and seven province assemblies on November 20. This means the country will get a new government at the centre as well new . . . Read more »
Safeguarding property rights of citizens is fundamental requirement for economic prosperity under the free market system. One of the reasons for the economic backwardness of Nepal is the failure to . . . Read more »
Interest rates are on a rising trend. Looking at the economic indicators, there is a very less chance of interest rates slowing down anytime soon. Through the monetary policy for the current fiscal . . . Read more »
Rising losses mainly due to the upsurge in global oil prices following the Russian invasion of Ukraine has set off the alarm bells for Nepal. The state-owned Nepal Oil Corporation (NOC), which enjoys . . . Read more »
The global tourism industry seems to be returning to a semblance of normalcy after a lull of two years due to the COVID-19 pandemic. . . . Read more »
When electricity supply returned to normalcy after years of load-shedding, people were naturally euphoric. But they had no idea what made the uninterrupted power supply possible. . . . Read more »
When the May edition of New Business Age hits newsstands, it will have completed its 21st year of operation - four years short of Silver Jubilee. The journey that we have made in these years is . . . Read more »
Last year the Government of Nepal and the World Bank signed a $60 million financing agreement for the Nurturing Excellence in Higher Education Program to improve the quality of Nepal’s higher . . . Read more »
Over the last few years, improving the old airports and constructing new ones have become the part of the government’s national agenda. Many airports have been upgraded across the country without . . . Read more »
Government controls in various sectors of the economy have resulted in a continuous rise in the prices of essential goods and services. The irony of the situation is that it has benefited neither the . . . Read more »
The overall performance of our contractors (construction companies) is so poor that it would be naive to believe that the country's ambition for development is possible from their existing capacity. . . . Read more »
It has been over one and a half years since coronavirus broke out in Nepal. The government imposed prohibitory orders and lockdowns for months that not only restricted the movement of people but also . . . Read more »
The Nepal Electricity Authority (NEA) is trying to sell electricity to Indian power companies stating that there is excess electricity in the country. On the other hand, many Nepali industries are . . . Read more »
The new federal budget for FY2021/22 has sparked a big protest against its provision that says no question will be asked about the source of money that is invested in some specified infrastructure . . . Read more »
Ending the confusion created by the change of government and the federal budget issued through an ordinance, Nepal Rastra Bank (NRB) unveiled the Monetary Policy for the current fiscal year on August . . . Read more »
Yes, the word ‘mess” can best describe the environment in which the businesses are in right now. The dictionary defines a ‘mess’ as a situation that is very complicated or difficult to deal . . . Read more »
Nepal Rastra Bank has started preparing the Monetary Policy for the next fiscal year amidst the financial devastation caused by the second wave of Covid-19 pandemic. Praise was heaped on the central . . . Read more »
The proposed merger between Nepal Investment Bank and Himalayan Bank has attracted quite a lot of attention because of the size of two institutions. Nepal Investment Bank has Rs 27.5 billion in . . . Read more »
Nepal’s worst fear has come true. The country is now in the grip of a second wave of Covid-19, a pandemic which has so far killed over three million people and infected close to 145 million . . . Read more »
The CNI’s campaign focuses on establishing over 1,000 additional enterprises, generating export income of $5 billion per annum, and raising the industrial sector’s contribution to the gross . . . Read more »
Nepal has long been trying to promote digital transactions to reduce the cost of printing paper money and, most importantly, to build a cashless economy, which not only traces money transfers but . . . Read more »
Nepal's stock market has been on a bull run since January last year. Nepal Stock Exchange (Nepse) index, which stood at 1182.31 points on January 5, 2020, surpassed the previous record of 1881.45 . . . Read more »
The abrupt dissolution of the House of Representatives and announcement of mid-term elections has pushed the country into a state of deepening political uncertainty. While political parties and . . . Read more »
Over the past nine months, construction contractors have not been able to work as per their contract agreements with the government due to the severe disturbances created by the Covid-19 pandemic. . . . Read more »
The Nepal Tourism Board (NTB) has set up a taskforce with the view of finding ways to revive the tourism sector which has been hardest hit by the Covid-19 pandemic. It is a praiseworthy move in that . . . Read more »
The spike in coronavirus cases and the prohibitory orders issued by district administration offices in many districts paralysing over half the country has pushed the already crippled Nepali economy . . . Read more »
At a time when the government has failed to add any meaningful momentum to the country’s economy hard hit by the Covid-19 pandemic through the Federal Budget, the central bank has reignited the . . . Read more »
After failing to get the Millennium Challenge Compact (MCC) ratified at parliament, the government has informed theUnited States that the agreement has been currently ‘put on hold’. It was, . . . Read more »
Two recent reports, published by the World Bank and International Labour Organization (ILO) separately, have clearly indicated the deepening economic crisis in Nepal due to the Covid-19 pandemic. The . . . Read more »
The Federal Budget for the upcoming fiscal year is expected to be different from the past years as the budgetary priorities and programmes will be directed towards addressing the impact of COVID-19 . . . Read more »
In response to the economic damage inflicted by the coronavirus (COVID-19) pandemic, governments are announcing gigantic fiscal and monetary stimulus packages with a hope to limit the ongoing . . . Read more »
While addressing the House of Representatives on February 14, Prime Minister KP Sharma Oli presented a rosy picture of his government’s performance. There was no specific reason or occasion for the . . . Read more »
Nepal starts the New Year with the launch of the Visit Nepal (VN) 2020 campaign. The government has set an ambitious target of hosting two million tourists during the campaign year. After Visit Nepal . . . Read more »
Nepal has long held its image as a country where there is a high level of trust between the people, a factor which has helped to define the Himalayan nation in the global arena. However, this . . . Read more »
After getting clearance from the Parliamentary Development and Technology Committee, the controversial Information Technology Bill is now in the House of Representatives for deliberation. It is an . . . Read more »
In a bid to expand the tax net, the Ministry of Finance is considering levying a tax on the transfer of ancestral property though. Finance Minister Dr Yubaraj Khatiwada has said that this concept of . . . Read more »
The new fiscal year has commenced and the Prime Minister KP Sharma Oli led administration is still grappling with multiple issues that it committed to resolve during its formation one and a half . . . Read more »
The government’s move to relax some harsh provisions quietly in the seventh amendment of the Public Procurement Regulations caught many by surprise. However, it is not difficult to understand that . . . Read more »
The Central Bureau of Statistics (CBS) in late April forecasted the country’s economic growth rate at 6.81 percent for the current fiscal year. Though the growth rate falls short of the . . . Read more »
Prime Minister KP Sharma Oli has accused sugar mill owners of tricking him into imposing higher customs tariffs and quantitative restrictions on the import of sugar, and that their activities have . . . Read more »
The National Planning Commission (NPC), the apex advisory body to formulate plans for the country’s development, has unveiled a roadmap to transform Nepal into a high-income economy in the next 25 . . . Read more »
The government has sped up preparations for the forthcoming Nepal Investment Summit 2019 scheduled for March 29-30 in Kathmandu. Of course, summits like this can prove to be helpful for attracting . . . Read more »
The latest volatility in the financial market prompted the government to form a high-level panel under the coordination of Nepal Rastra Bank’s deputy governor, which submitted its 58-points . . . Read more »
It is becoming clearer that the objectives of the contribution-based Social Security Scheme, launched by the government amid a fanfare on November 28, will not be met. First, there is big confusion . . . Read more »
In late October, after the World Bank released the Doing Business 2019 report, Finance Minister Dr Yubaraj Khatiwada publicly asked the multilateral lender to revise its decision to lower Nepal’s . . . Read more »
Two opposing extreme viewpoints emerge when it comes to discourses on climate change and technology. Some people blame economic development and technology for the ongoing environmental degradation. . . . Read more »
Eight months have elapsed since KP Sharma Oli assumed the prime ministerial post for the second time, after the Left Alliance won a two-thirds majority in the legislative elections held in November . . . Read more »
At a time when the private sector needs to unite and protect its space in the free market, differences and political divisions have seeped into the sector's institutional composition, undermining . . . Read more »
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Ostensibly to drive its agenda of prosperity, the federal government has increased the tax burden. In reality, the taxes have been increased to finance the inflated recurrent expenses, undermining . . . Read more »
In recent years, the term “connectivity’’ has become a buzzword, especially in South Asia. This is considered, and rightly so, as a very important means to boost economic transaction as well as . . . Read more »
More than four months have already passed since the election results were published giving a clear majority to the left coalition led by KP Oli as the future Prime Minister. And two months have . . . Read more »
Nepal’s banking sector is currently undergoing a stress test of its own kind. The struggle that the banks are facing to pass this test has led to peculiar other problems. Also, the regulator of . . . Read more »
The Nepal India energy secretarial level Joint Steering Committee (JSC) meeting is expected to commence soon once the Nepal’s government takes a full shape. It is understood that one of the focal . . . Read more »
Nepal’s trade deficit is ballooning each year due to sluggish exports and galloping imports. A decade and a half earlier, the exports were equivalent roughly to 18 percent of GDP. Now, this ratio . . . Read more »
The Nepali business community has welcomed the outcome of the general elections. It hopes the clear majority (almost two thirds) garnered by the coalition of the two communist parties, CPN-UML and . . . Read more »
The Nepali private sector has recently started a campaign to reform the entire gamut of business laws. Some laws need to be amalgamated with others, while some must be repealed outright. Some others . . . Read more »
Nudges are more important than nagging. That perhaps summarises the essence of the nudge theory for which Chicago University’s Professor Richard H Thaler was awarded this year’s Nobel Memorial . . . Read more »
Business problems in Nepal are mostly related to poor regulations. And better regulations themselves don’t yield results. What matters more is the competence of the regulatory body. From . . . Read more »
Lots of discussions are taking place lecturing Nepali industries on disaster preparedness. The lecturing has become even more frequent since the earthquake of 2015. And a lot of improvements have . . . Read more »
It is the responsibility of central banks the world over to give suggestions to the government regarding economic management, management of public debt and financial management. Preparing the . . . Read more »
Nepal Rastra Bank’s continued focus on controlling bank lending to unproductive sectors has been causing disruptions across various areas of the Nepali economy. Till recently, such disturbances . . . Read more »
After Nepal joined the China-sponsored Belt and Road Initiative (BRI) by signing in May 2017 the framework agreement on what is known as One Belt One Road (OBOR), analysts of different shades and . . . Read more »
Even as the Ministry of Industry under Minister Nabindra Raj Joshi is gaining praise for the speed of some important policy reforms, one recent event, however, indicates otherwise. In a programme . . . Read more »
After a long wait, the Parliament has passed the First Amendment in the Companies Act 2063 which is a positive development. However, an analysis of what the government had originally proposed as the . . . Read more »
Both of the top regulators of the economy - Ministry of Finance and Nepal Rastra Bank – brought out the mid-term review of their respective policies and made some changes in the middle of February. . . . Read more »
Should Ncell (Pvt) Ltd. pay the capital gains tax on the sale of its ownership by its earlier owner Telia Company to present owner Axiata? The answer differs depending on whom you ask. Obviously, the . . . Read more »
India’s decision to demonetize high denomination Indian currency notes has created a historic opportunity for Nepal to do away with the practice of pegging Nepali currency with that of India. The . . . Read more »
Nepal observed its Fifth National Tax Day on November 16, with the slogan that translates to something like “Let’s Pay Tax and Feel Dignified to Help Achieve Our Aspirations for a Prosperous . . . Read more »
This is the time to say “Down with the CIAA”. This is not just a demand for the abolition of this anti-graft body. It is also the reason for such a demand. The entire Nepali economy as well as . . . Read more »
In his work plan concerning industrial sector reform, the newly appointed Minister for Industries Rabindra Raj Joshi announced that the government owned industries that have been shut for several . . . Read more »
What will a rational homo Economicus do when spotting a Rs 1000 note lying on the pavement? He will not pick it up! Because, he thinks, that note is a fake. Had it been a real note, somebody else who . . . Read more »
Nepal is getting the second government under the new Constitution. What difference will it make for the business and economy? A lot or not at all? It is tricky to answer the question. Because there . . . Read more »
Nepal too is likely to feel the effects of the UK’s decision to get out of the European Union, known as Brexit. But what kinds of effects exactly? Though a lot is being debated, we simply do not . . . Read more »
Prime Minister KP Oli is criticised and even ridiculed for the myriad dreams he has been spreading about the country’s future. However, some have appreciated it because the leader has to stir . . . Read more »
This year is going to be different in Nepal’s government budgeting. The Finance Minister will hopefully present the budget to the parliament on May 28 as stipulated in the new Constitution, instead . . . Read more »
The recently concluded China visit of Prime Minister KP Oli received a lot of publicity both within Nepal and in India. The Nepali people were told that the visit was a resounding success. Some say . . . Read more »
Since this is the year of implementation of the new constitution promulgated in September last year, a new beginning should also start by revising the list of public holidays. . . . Read more »
The Nepali economy has now entered the danger zone where the risk is not just limited to the financial system. The entire economic system including the underlying assumptions held sacrosanct as . . . Read more »
The Nepali economy is already in an economic slump and it may take more than a year to get out of it. There’s no need to explain that, even if the ongoing blockade along the Nepal-India border . . . Read more »
Whether the prolonged Indian economic blockade against Nepal continues even beyond the Bihar elections and Nepal’s Tihar and Chhath festivals is still uncertain. However, this has given Nepal a . . . Read more »
Nepal has finally got the much awaited New Constitution. And the business community has wholeheartedly welcomed it, as did a vast majority of the Nepali people. Though most of the region known as . . . Read more »
The Nepali private sector has missed a very important issue in the list of suggestions they presented recently to the political leadership to incorporate in the new constitution. This missed point is . . . Read more »
As a famous proverb goes, if wishes were horses, then beggars would ride. . . . Read more »
Nepal as a whole is trying to get back (on track) after getting knocked over by the massive 7.6 M Gorkha Earthquake and its subsequent aftershocks. Though the aftershocks are still continuing and causing problems, a more serious problem is that a lot of confusion still needs to be cleared up. . . . Read more »
The spending capacity of the Government of Nepal is quite poor, to say the least. The government has been routinely allocating capital expenditure, also known as the development budget, every year. But it has routinely failed to spend the money. In the first nine months of the current fiscal year, the government has been able to spend only about 26 percent of the development budget. . . . Read more »
Dr Chiranjibi Nepal, the new Governor of Nepal’s central bank, Nepal Rastra Bank (NRB), for next five years, has the twin responsibilities of clearing the mess created by his predecessor Dr Yubaraj Khatiwada and leading Nepal's financial sector to take it at par with its global . . . Read more »
A recent investigative report named 'Swiss Leaks' by a group of international journalists also revealed the names of some Nepali nationals as having supposedly secretive bank accounts in HSBC-Switzerland. Some USD 45 million seems to be routed through some weird location called Virgin Islands, a tax haven and offshore financial hub though quite far away from Nepal. . . . Read more »
The Government of Nepal's recent announcement of a ten-year roadmap for tourism development is indeed a welcome endeavour. The National Tourism Strategic Plan 2015-2024 sets ambitious target of investing some sixty billion rupees from tax-payers money during this period to develop . . . Read more »
One, supposedly highly learned, member of parliament in a recent public discussion declared, 'The menace of cartels and syndicates in the Nepali market are the result of adopting the free-market economy and giving everything to private ownership.' This sweeping remark exposes the superficiality . . . Read more »
Nepal's share market index, Nepse is performing reasonably well since the formation of Nepali Congress led government. It is now hovering between 850 and 900 for sometimes now. Among many welcome developments, the plan to dematerialize (demat) the physical share . . . Read more »
Nepal has been successful in initiating important economic reforms, ahead at least of her South Asian peers. The process of economic liberalization began in 1984, eight years before India began its first generation of reforms. The financial sector reform too was undertaken . . . Read more »
Refusing to the demand of the automobile importers to reduce import duties on vehicles, Finance Minister Dr. Ram SharanMahathas promised them government support if they start vehicle manufacturing in the country. Given the increasing demand due to expansion in the road network . . . Read more »
TeliaSonera’s December deal to sell its shares in Ncell to Malaysia’s Axiata cannot be viewed in Nepal simply as a business decision by two companies. Some indications of the gravity of the . . . Read more »
