Submit your Article

Pakistan imports fell by more than a third in July after a ban on non-essentials, the finance minister said on Sunday, adding the improved trade situation will reduce pressure on the struggling rupee, The Economic Times reported.

July imports fell to $5 billion, down 35% from June's record monthly high of $7.7 billion, Miftah Ismail told a news conference in Islamabad.

The central bank and Pakistan statistics bureau is yet to post its July data.

"This is very welcoming," Ismail said, adding it was the result of his government's ban on all non-essential imports. "It will remove pressure on rupee," he said.

The rupee traded up slightly at 239.37 to the dollar on Friday, after shedding about 5% last week and more than a quarter of its value this year.

The ban on the import of non-essential goods was lifted last week, except for automobiles, cell phones and home appliances.

Ismail said his government has resolved to bring down the current account deficit significantly and to post a surplus in a year or two, according to The Economic Times.

The South Asian nation has fast-depleting foreign reserves and is struggling to finance a widening current account deficit, which saw a $2.3 billion surge in June, mainly due to rise in oil imports.

The deficit for the financial year ending June 30 stood at $17.4 billion against $2.8 billion the previous year.

Earlier in July, Pakistan reached a staff level agreement with the IMF for the disbursement of $1.17 billion under a resumed payment of a bailout package, The Economic Times reported.

The CPN-UML staged a protest in the Capital on Monday against inflation and corruption.

The cadres of the main opposition party took out rallies from various places of the Capital to pile pressure on the government to control inflation and corruption.

Krishna Gopal Shrestha, a member of the organizing committee, said that the rally will start from Basantapur and march through various parts of the city before converging into a corner assembly at Shantibakita.

Four members of a family were found dead at Padamsal in Kavresthali of Tarekeshwor Municipality, Kathmandu on Monday.

The Kathmandu Metropolitan Police Range, Kathmandu said that Dinesh Pandey (41), a permanent resident of Gorkha, his wife Sunita Pandey (39), daughter Ashika Pandey (13) and son Ashik Pandey (8) 

Locals informed the police administration after Pandey’s daughter Ashika did not come to the school. She was supposed to go to school at 8 am.

Police were informed that the doors and the windows of the house were closed.

A police team from the Metropolitan Police Circle, Balaju was immediately deployed to the incident site.

When police reached the incident site, the doors and the windows of the house were found locked from inside, it has been learnt.

According to locals, Sunita was preparing to go to the UK.

Police suspected that Dinesh might have killed himself after murder other members of the family.

Police said that they are looking into the case.

Nepal reported 895 new Covid-19 cases and one death on Monday.

According to the Ministry of Health and Population, 3, 685 swab samples were tested in the RT-PCR method, of which 632 returned positive. Likewise, 2, 224 people underwent antigen tests, of which 263 were tested positive.

The Ministry said that 264 infected people recovered from the disease.

As of today, there are 4, 934 active cases in the country.

The Nepal Stock Exchange (NEPSE) gained 1. 15 points to close at 2,196.25 points on Monday.

Similarly, the sensitive index surged by 1. 94 points to close at 421. 14 points.

A total of 10,518,712 unit shares of 217 companies were traded for Rs 4. 67 billion.

In today’s market, five sub-indices saw green. Manu and Pro topped the chart with 109. 18 points.

Meanwhile, Butwal Power Company Limited was the top gainer today, with its price surging by 6. 95 percent. Swabhimaan Laghubitta Bittiya Sanstha Limited was the top loser as its price fell by 5. 21 percent.

At the end of the day, total market capitalization stood at Rs 3. 13 trillion.

The price of gold has dropped by Rs 400 per tola in the domestic market on Monday.

According to the Federation of Nepal Gold and Silver Dealers' Association, the yellow bullion is being traded at Rs 95, 400 per tola today.

Meanwhile, tejabi gold is being traded at Rs 94, 000 per tola.

The yellow metal was traded at Rs 95, 800 per tola on Sunday.

Similarly, the price of silver has decreased by Rs 10 and is being traded at Rs 1,220 per tola today.

An arrest warrant has been issued against Nepal Communist Party General Secretary Netra Bikram Chand among other leaders of the party.

The Lalitpur District Court on Monday issued the warrant against Chand and Khadga Bahadur Bishwokarma among other leaders on the charge of possessing arms, crimes against the state and detonating Improvised Explosive Devices.

The court issued arrest warrant against Bhaktapur district in charge Tek Bahadur KC, Standing Committee member Santosh Budha Magar, central member Udaya Bahadur Chalaune, School Department members Bharat Bahadur Bam, Mohan Bahadur Karki and Padam Bahadur Rai among other leaders.

They have been ordered to appear before the court within 35 days.

A person died and another was injured when a landslide triggered by incessant rainfall buried a house at Pandhero in Dihikopatan of Pokhara Metropolitan City-6 on Monday.

According to DSP Sundar Tiwari of the District Police Office, Kaski, the deceased has been identified as Santosh Sunar (26) of Bhurjungkhola, Machhapuchhare Rural Municipality-1, Kaski. He had been living in the house as a tenant.

Critically injured in the incident, he was rushed to the Western Regional Hospital but doctors pronounced him dead in arrival, Tiwari said.

Sunar’s sister Sunita (27) was injured in the incident.

She has been receiving treatment at the Gandaki Medical College, police said.

Sunita’s 10-year-old daughter Simran Sunar was unhurt in the incident.