Nepal Airlines Corporation Structural Reforms Study Committee submits its fourth report

Report Study and Implementation Recommendation Committee under Nepal Rastra Bank (NRB) former governor Deependra Bahadur Kshetry-led Nepal Airlines Corporation Structural Reforms Study Committee has submitted its fourth report.

The Report Study and Implementation Recommendation Committee led by former Captain Kul Bahadur Limbu submitted the report jointly to Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, Secretary Deepak Kafle and Executive Chairperson of Nepal Airlines Corporation, Yubraj Adhikari today.

The report has mainly incorporated four points—making internal audits effective, forming an accounts committee to make decisions of board of directors and NAC's governance effectively, selling shares of Soaltee Hotel to make NAC financially strong and formulating a realistic action plan of NAC.

On the occasion, Minister Kirati directed the NAC Executive Chairperson for effective implementation of the report.

 

Sweden gives SEK 27 million to support trade growth in LDCs through EIF Facility

The government of Sweden is contributing SEK 27 million (approximately CHF 2.3 million) to help least-developed countries (LDCs) maintain economic growth with the support of the Enhanced Integrated Framework (EIF). Sweden’s contribution is to the newly established EIF Interim Facility, which was set up to bridge the gap between the end of Phase Two of the EIF and the establishment of a new multilateral support mechanism for LDCs.

Sweden's contribution was confirmed at a meeting attended by Sweden's Director General for Trade Policy at the Ministry of Foreign Affairs, Per-Arne Hjelmborn, and the EIF Executive Director, Ratnakar Adhikari, on 27 February in Abu Dhabi on Day 2 of the WTO's 13th Ministerial Conference.

Sweden's contribution made available through its development agency Sida, will help to support EIF-led projects while discussions regarding the establishment of a new mechanism are progressing in a taskforce at the WTO.

The total of Sweden's contributions to EIF-led programmes since 2007 amounts to approximately CHF 31.8 million (SEK 370 million).

"Sweden is delighted to be contributing to the EIF Interim Facility as a testament of our long-standing engagement to sustainable trade and development of LDCs during this critical transitional period," said Mr Hjelmborn. "Sweden values the collaboration with the EIF partnership in shaping a strategic approach to facilitate this transition. We are committed to preserving and enhancing the progress achieved, ensuring impactful outcomes while we collectively engage in deliberations on the future Aid for Trade mechanism for LDCs to further promote their integration into global trade," he added.

Mr Adhikari stated: "The EIF is profoundly grateful for Sweden's generous contribution, especially as we navigate this crucial transitional period. This support is crucial for sustaining our efforts in empowering LDCs, which continue to face persistent economic vulnerabilities and pressing developmental needs. Sweden's steadfast commitment to sustainable development underscores the necessity of collective action to preserve and enhance the achievements reached thus far. Sweden's latest contribution is expected to be a cornerstone in promoting sustainable trade capacity development, focusing on empowering LDCs to achieve inclusive growth, increased export capabilities, and broader market access."

The EIF is the only global Aid-for-Trade initiative dedicated exclusively to empowering LDCs to use trade as an engine for sustainable economic growth development and poverty reduction. It is a unique global partnership between LDCs, donors and partner agencies - including the WTO - who work together to build trade capacities in LDCs.

 

 

 

Inmates of Central Jail brought under health insurance coverage

Health insurance scheme has been offered to inmates of Central Jail.

The Jail Management Department implemented the health insurance scheme to be effective from mid-February with an objective of providing easy access to inmates in their health treatment.

Chief of Health Program at the Central Jail, Kalpana Gyawali, shared that the health insurance scheme was implemented targeting the inmates who have spent more than one year in the central jail.

The Department has covered the health insurance scheme of Rs 3500 for each inmate and the insurance cover would be automatically invalid once the inmate completes his/her jail term.

Jail Administrator Lalit Basnet explained that the health insurance program for inmates was implemented with an objective of helping for the health of the prisoners. With this, each prisoner would get treatment of Rs 100,000 through insurance coverage.

Apart from this, the government has been providing medical treatment to the inmates through the Central Prison Hospital.

Jail Administrator Basnet said the patients who cannot be treated at the Hospital are treated at various 25 hospitals with which the Prison Administration has signed agreement with for that purpose.  The Central Prison Hospital has 30 beds.

The Hospital has been providing OPD, lab, X-ray, ECG, ultrasound, dental, psychiatric, dermatological and eye care services. It has also been conducting health camps targeting the inmates from time to time.

There are 3,721 inmates at the Central Jail and other prison houses under it.

Around 200,000 taxpayers not regularly paying tax at KMC

Around 200,000 taxpayers are not regularly paying tax at the Kathmandu Metropolitan City (KMC), it has been found.

As informed, 200,000 out of 312,000 taxpayers registered at KMC are found not regularly paying tax. 

According to KMC Revenue Department, the metropolis is preparing to ramp up ward-level monitoring to bring the taxpayers dilly dallying to pay tax without coming to the registration process for a long time in accordance with the rules.

Around 100,000 taxpayers are among those showing reluctance to pay rent related taxes. Similarly, the number of taxpayers found unwilling to pay business tax, entertainment tax and advertisement tax exceed 100,000, said KMC Revenue Department Chief Dhruv Kafle.

According to him, the KMC is preparing to bring the unregistered taxpayers of all categories to the process by regularly monitoring from this month onward to increase tax compliance. 

Kafle said that arrears amounting to Rs 2 billion are yet to be recovered from the registered taxpayers at KMC. The dues have remained for the last 12 years, KMC sources said. 

The metropolis had set an annual revenue target of Rs 10.80 billion for the current fiscal year. It has so far been able to collect only Rs 5.80 billion in the first eight months of the current fiscal year.

Though its revenue collection status was found satisfactory till the first six months of the fiscal year, KMC's revenue in the last month (mid-January to mid-February, 2024) has dropped compared to other months.