External News

Upper Tamakoshi hydropower project successfully tests dam

Kathmandu, March 22 With an aim to meet the latest completion deadline of July 15, the 456-megawatt Upper Tamakoshi Hydropower Project (UTHP) has completed the necessary tests of its dam, headworks, descender and semi-reservoir today. A team of high-level governmental officials, including Minister for Energy, Water Resources and Irrigation Barsha Man Pun, member of National Planning Commission Krishna Prasad Oli, managing director of Nepal Electricity Authority Kul Man Ghising and other officials witnessed the technical tests of the project. The project has constructed a 22-metre-high and 60-metre-wide dam. It had…

Pandemic is a chance to rethink development

COVID-19 offers an opportunity to recalibrate Nepal’s economy towards self-reliance and preparedness Ivan G Somlai March 27, 2020 It was amazing to see the dramatic before-and-after satellite images of pollution reduction after coronavirus lockdowns in China, and how quickly the air could be cleaned up and improve health. But to sustain that, individuals, countries and economies must consciously reduce consumerism, realign our means of production, and rethink economic ‘growth’. For Nepal it is a chance to recalibrate the economy and steer it towards more self-reliance, and preparedness for future disasters of this nature.…

The impact of COVID-19 on remittances

As the world economy grinds to a halt with country after country shutting down in all but the most essential activities, the focus has been on stimulus packages, equity, fixed-income markets, and moves targeting currency and commodity prices. There was less focus on lower-income countries. Some 80 countries have approached the International Monetary Fund (IMF), which is ready to deploy its full quick-response toolbox consisting of debt relief for IMF loans, rapid-financing facilities and a trillion-dollar lending facility. Some of the G20’s $5 trillion coronavirus rescue package, which was announced…

Let’s invest money for capital formation: Finance Minister Dr Khatiwada

KATHMANDU: The government has come up with strict measures to tackle the impact of COVID-19 on economy and other areas. Against this backdrop, Minister for Finance, who is also the Minister for Communications and Information Technology, Dr Yubaraj Khaitwada has talked about the government measures to combat COVID-19, economic relief packages and other things that the government has pushed forward. “First of all the country is in a difficult situation. All the problems that we encounter are not created by ourselves. But, we have to face the problems created by…