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The government is planning to open fair price shops at 42 locations across the country for the upcoming festive season.

Like in past years, these shops will start operating from Sept 23, targeting the Dashain festival, and will remain open until the Chhath festival.

Three government entities—Salt Trading Corporation, Food Management and Trading Company, and Dairy Development Corporation—will jointly operate these fair price shops.

Minister for Industry, Commerce, and Supplies, Damodar Bhandari, announced on Tuesday that preparations for the fair price shops were underway. Speaking at the meeting of the National Assembly, Minister Bhandari said the government was making necessary arrangements to prevent shortages of essential items like rice and sugar during the festive season.

“We are preparing to operate fair price shops from September 23, targeting the festive season,” Bhandari said. “These shops will offer discounts on essential items.”

According to Bhandari, consumers can avail themselves of a discount of Rs 5 per kg on rice, Rs 7 per kg on Marsi rice, quinoa, foxtail millet, beans, tartary buckwheat, and naked barley, Rs 5 per kg on wheat and lentils, Rs 7 per liter/kg on oil and ghee, Rs 10 per kg on DDC ghee, as well as on live goats.

Minister Bhandari said the government was taking the necessary measures to lower the price of imported goods as well. “We are also planning to import sugar at a 15 percent reduced price. We won’t let any food item be in short supply during the festive season,” he told ApEx.

The government is providing a 50 percent customs duty waiver to the Food Management and Trading Company and Nepal Salt Trading Corporation to import 30,000 tons of sugar for the festive season.

Bhandari said the government is committed to preventing supply chain disruptions and artificial shortages that could lead to price hikes. He also mentioned that the government would conduct about 4,000 rigorous market inspections across the country. “We’ve already sealed about 100,000 kg of sugar in warehouses,” he said.

Minister Bhandari added that the government plans to intervene in the market to prevent artificial shortages, stop adulteration, control price hikes, and confiscate goods that haven’t gone through customs points.

Govt to form Consumer court

The government has begun preparations to set up a consumer court. Speaking in the National Assembly, Minister Bhandari said the process of establishing the consumer court has already begun.

A meeting of the Commerce Council, chaired by Minister Bhandari on Monday, decided to form the consumer court within a week. “The government has set aside a budget of Rs 10m to set up the consumer court,” he added.

Secretaries from various ministries and consumer rights advocates attended the meeting, according to Minister Bhandari.

The FinTram Global LLP, an India-based leading learning platform, has signed a Memorandum of Understanding (MoU) with Banking Finance & Insurance Institute of Nepal (BFIN) with an aim to advance the financial accounting, reporting, planning and finance practice in Nepal and enhance learning opportunities for BFSI aspirants and professionals in the country to become qualified for a global job market. 

This groundbreaking partnership signifies a shared commitment between FinTram Global LLP and BFIN to elevate the standards of professionals in accounting and financial services and promote the importance of the globally qualified certifications across the country.

Pankaj Dhingra, Managing Partner, FinTram Global LLP - "We are thrilled to partner with BFIN Nepal. By combining our expertise with BFIN, we aim to significantly increase the number of qualified accountants and financial professionals who are equipped to work in the global marketplace. This collaboration underscores our shared commitment for elevating industry standards and promoting the importance of globally recognized certifications across Nepal."

Dr. Binod Atreya , Managing Director, BFIN said, “This partnership marks a significant step towards advancing of financial accounting and Reporting qualifications in Nepal. By aligning with FinTram Global LLP, we are committed to elevating the standards of our professionals and fostering a new generation of globally qualified accountants and financial planners. This collaboration underscores our shared vision to prepare customized curriculums and thus empower Nepali talent with the skills necessary to thrive on the global stage, thereby strengthening the financial landscape of our country."

About FinTram Global LLP:
Fintram Global is a leading learning platform, transforming professionals around the world in the domains of Accounting and Finance. A renowned name in India for various global qualifications like ACCA, US CPA, US CMA, CFP, IFRS and various CPE Courses. They are also the Gold – Approved Learning Partner with ACCA UK, an Authorised Education Provider for FPSB India, an Approved Channel Partner for Becker Professional Education – USA, Gleim USA , Kaplan UK
Further, FinTram Global is also the proud knowledge partner with various renowned Business Schools and Institutions in India.

The Nepal Chamber of Commerce (NCC) has partnered with Annapurna Media Network (AMN) to enhance the ‘Startup With Annapurna’ campaign, aimed at promoting young entrepreneurs’ businesses. The NCC will serve as the promotion partner for the initiative. The agreement was formalized during a signing ceremony held at the NCC headquarters in Kantipath on Thursday. Representing the organizations, Manoj Basnet, general manager of AMN, and Pankaj Jalan, head of the NCC’s Startup and Innovation Committee, signed the agreement. Kamlesh Agarwal, president of the Nepal Chamber of Commerce, highlighted the Chamber’s role in fostering the growth of startups. “Nepal Chamber of Commerce will assist in promoting companies under the ‘Startup With Annapurna’ campaign. NCC will create business opportunities, including providing mentorship through this initiative,” said Agarwal.

During the ceremony, General Manager Basnet emphasized the media’s creative responsibility in supporting young entrepreneurs and noted that the campaign will soon expand to the provincial level. Pankaj Jalan praised AMN’s efforts, committing to ensuring the campaign’s success with a strong focus on achieving results.

The Nepal Stock Exchange (NEPSE) gained 78.17 points to close at 2,688.38 points on Thursday.

Similarly, the sensitive index surged by 13.40 points to close at 476. 48 points.

A total of 19,433,154-unit shares of 318 companies were traded for Rs 8. 16 billion.

Meanwhile, Wean Nepal Laghubitta Bittiya Sanstha Limited (WNLB), Green Ventures Limited (GVL), Eastern Hydropower Limited (EHPL) and Rawa Energy Development Limited (RAWA) were the top gainers today, with their price surging by 10. 00 percent.

Likewise, Three Star Hydropower Limited (TSHL) was the top loser as its price fell by 10.00 percent.

At the end of the day, total market capitalization stood at Rs 4. 27 trillion.