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Monday, June 29, 2009
Alpine Air Deal
NLHDA Submits Suggestions
Newsprint Price Down
NATTA Hails Airfare Currency Shift
“Ours was the only country charging airfares in dollars but with the new regulation of Nepal Rastra Bank (NRB), we too will be adopting with the international norm of using our currency in airfare tickets,” said Ram Kaji Koney, president of Nepal Association of Tour and Travel Agents (NATTA), during a press meet here today. According to the NRB regulation, from July 1 all the registered international airlines and cargo and courier agencies will have to take their service charges in Nepali rupees (NRs). The repatriation of sale made in NRs should also be done in NRs while repatriation of sale made in foreign currency should be done in foreign currency. The required repatriation amount will be granted by the related commercial bank according to foreign exchange rates. The service provided by Civil Aviation Authority of Nepal (CAAN), Nepal Oil Corporation (NOC), ground handling agent, catering company/agents, and other service providers at the Tribhuwan International Airport (TIA) such as take off/on, navigation, housing, ground housing, catering, fuelling should use the current day exchange rate while presenting their bills in both in NRs and foreign currency “Airfares in foreign currency was a chronic problem due to which Nepali currency was always devalued but now we are content with the circular,” said Koney. Though its implementation will be from July 1, there will be prior planning regarding implementation process, Koney said adding that now the process will be simplified and they won’t have to go NRB. The processing can be done by commercial banks here. The NRB regulation came due to NATTA’s year-long efforts to have air ticckets charged in Nepali currency. Earlier, except Nepal Airlines all the foreign airlines used to charge airfares in dollars. “We were trying to get the issue of charging airfares of foreign airlines in Nepali currency settled but it took time due to lack of coordination. Travel agents used to bear huge losses due to the fluctuating price of the dollar,” Koney said |
Candid Do’s for The Budget
• Enforcement of rule of law and security all over the country (end to impunity, lawlessness and bandh culture) • Clear vision about growth-oriented economic policy (emphasis on pro-poor and inclusive
• Favourable investment climate by introduction of investment allowance and lower corporate tax rate to spur growth
• Incentives for private sector investments in health care and infrastructures status for making inclusive growth a reality
• Tax holiday for 100 per cent export oriented units to receive investment in export production capacity
• Special export incentives for readymade garments, carpets and other value added exports to create jobs for jobless workers
• Immediate action against power shortage problems through purchase agreement with India and warfooting action plan for constructing transmission lines (on both sides of the border) • Focus on increasing the overall share of non-agriculture sector in the economy
• Immediate action to reduce inflation to single digit
Dr Nepal is former chairman,Securities Board of Nepal
Going The Way of All Summer
HAN Calls for New Craft for NAC
Etihad promo
Social Network
Listed Hydropower Companies
Good Response to Arun Valley IPO
Long-term Practical Steps Required
Saturday, June 27, 2009
Airfares in NRs from July
CFC Gas Dump
Revenue Drive
Carlsberg Concept
Stop White Collar Crime, Corruption
Knowledge Series
Tuesday, June 23, 2009
Make Nepal Sino-Indo Transit Point
Experts Tips for Successful Budget
RBB Cash Crunch
APLT Seminar
NATA Condemnation
Alltech Picks Nimbus as Official Feed Partner
Focus on Investment
Flight From Holland Again
Another NRB Rap on NDB’s Knuckles
New Toshiba Notebook Hits Market
Lokta Paper Standards To Be Fixed by June-End
The major exportable items of Lokta paper are in the form of packaging paper, stationery items and greeting cards.
Dabur Real's Contest
Pepsi Scheme Winners
Laxmi Bank Limited Conducted Workshop
Bishal Bazaar Co’s Shareholders Gain
Gold, Silver Prices in Fluctuation Mode
Gold, that was traded for Rs 23,580 per 10 gram on Sunday, closed at Rs 23,665 per 10 gram on Friday. According to Nepal Gold and Silver Dealers’ Association (NEGOSIDA), due to variations in dollar, domestic market has also been affected. The cost of gold per ounce in the international market was $939 per fluctuation mode ounce on Sunday, which closed at $934 on Friday. Gold was traded for Rs 23,580 per 10 gram on Monday. However, Thursday saw the highest price of Rs 23,750 per 10 gram in the domestic market. Meanwhile, silver opened at Rs 377 per 10 gram on Sunday and was traded for the same amount on Monday. Silver got traded for Rs 375 on Thursday and closed at Rs 375 per 10 gram on Friday.
Kaski Banks’ Deposit Touches Rs 25.65 Billion
Around 42 offices of 22 commercial banks, 32 offices of 23 development banks and 16 offices of 12 finances including others are carrying out transactions in the district.