- Wednesday, 18 December 2024
Kathmandu, May 27: Fifteen public enterprises including the Nepal Airlines Corporation (NAC) have been operating at a loss for a couple of years or more. This has been stated in an annual review report of the status of public enterprises presented in the parliament on Sunday.
The review report shows that of 44 public enterprises that were in existence till the fiscal year 2079-80 BS (2022-23), 26 were at a profit, 15 were at a loss, and the business transactions of three organizations were nil.
According to the report, in the fiscal year 2079-80 BS (2022-23), the NAC incurred the highest loss among all public enterprises, and this trend was followed by Nepal Water Supply Corporation, Daily Development Corporation (DDC), Udaypur Cement Industry Ltd, and the Nepal Television.
During the last fiscal year, NAC’s net loss amounted to over Rs 650 million while the accumulated loss of the corporation exceeded Rs 16 billion. The NAC has been continuously operating at a loss since the fiscal year 2076/77 (2019-20).
“Although the net loss of NAC last fiscal year reduced compared to the fiscal year 2078/79 (2021-22), the financial status of the organization is not satisfactory,” the report states.
Challenges in the payment of loans and interests, high administrative expenditures, low business, delayed flights, and the lack of the effective implementation of a corporate plan are cited as reasons behind the NAC facing continued loss.
Nepal Water Supply Corporation and Nepal Television have been at a net loss since the fiscal year 2075-76 BS while the Udaypur Cement Industry continues to report a loss since the fiscal year 2076-77 BS (2019-20) and DCC since the fiscal year 2077-78 BS (2020-21).
Last year, the Water Supply Corporation incurred a net loss of over Rs 546 million, and the accumulated loss amounted to Rs three billion 30 million.
The net loss reported by DDC is over Rs 484 million while the accumulated loss is Rs one billion 850 million Udaypur cement incurred a loss of over Rs 362 billion and the accumulated loss amounted to Rs five billion Rs 788 million.
Hetauda Cement incurred a loss of Rs 254 million and the accumulated loss amounted to Rs one billion 158 million while Nepal Aushadhi (Drugs) Limited suffered a loss of Rs 155 million and the company’s accumulated loss amounted to Rs two billion 135 million.
Nepal Orind Magnesite Pvt reported a net loss of Rs 165 million and the accumulated loss was Rs five billion 37 million. Similarly, Butwal Spinning Mill had a net loss of 34.03 million, with an accumulated loss of Rs two billion 1.2 million.
When Food Management and Trading Company Limited earned a net profit of Rs 129. 02 million in the given time, its accumulated loss so far has amounted to Rs 782.02 million.
Although Nepal Oil Corporation Limited is one of the institutions reporting the highest net profits, it still incurs an accumulated loss of Rs four billion 850 million. When Nepal Ban Nigam Limited incurred a net loss of Rs 74.03 million, it presented the accumulated profits of Rs 70 million.
The National Productivity and Economic Development Center Limited incurred a net loss of Rs 4.33 million while the accumulated loss was worth Rs 112.09 million. Nepal Railway Company Limited presented a net loss of Rs 199.06 million, with an accumulated loss of Rs 559.06 million, while the Cultural Corporation incurred a net loss of Rs 14.08 million with an accumulated loss of Rs 284.02 million.
Although Janak Education Materials Center Limited made a net profit of Rs 193.06 million last fiscal year, it still had an accumulated loss of Rs one billion 198.07 million. Nepal Television had incurred a net loss of Rs 351.02 million with an accumulated loss of Rs two billion 408 million.
National Housing Company Limited was operating with a net loss of Rs 10.04 million and an accumulated loss of Rs 118.05 million last fiscal year.
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Multiple-vehicle collision: death toll reaches two
Chitwan, May 27: The death toll from the multiple-vehicle collision that took place on Sunday night at the Narayangadh-Muglin road section in Chitwan has reached two.
The deceased are Soyan Pun, 13, from Naubahini rural municipality-3 in Pyuthan, and Rajan Subedi, 21, from Ramche of Barhabise municipality in Sindhupalchowk who is an assistant to a truck driver.
The boy died last night while Subedi breathed his last amidst the treat at Chitwan Medical College at 8:45 am today, the police confirmed.
The collision involving four vehicles: three buses and a truck occurred at 17-Kilo of Bharatpur Metropolis-29, the police said.
According to District Police Office, Chitwan’s Spokesperson Deputy Superintendent of Police, Bheshraj Rijal, the accident involved the truck ( Na 3 Kha 7925), and three buses ( Ba 4 Kha 9086, Na 7 Kha 3248 and Na 6 Kha 8968).
Twenty-one people who were injured in the accident are being treated at the Chitwan Medical College.
The roadway remained obstructed for some hours after the incident. However, the two-way traffic began this morning, Rijal added.
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Two go missing in river in Darchula
Khalanga ( Darchula), May 27: Two people: one woman and a six-year-old boy have gone missing since last night after they were swept away by a river at Marma rural municipality-5.
According to the District Police Office, Jhupa Tamata, 25, and Ain BK, 6, were swept away by the Ganyad StreOffice’s information officer Gyanendra Bahadur Singh, they are aunt and nephew by relation.
The incident occurred as the two were trying to cross the river turned swelled after the rains, said Marma rural municipality-5 ward chair Surendra Mahata.
A police squad from the Area Police Office, Latinath has been mobilized to undertake a search and rescue operation for the missing, it is said.
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Lahan Expo records transactions over Rs 15.9 million
Siraha, May 27: The Lahan Expo: Madhesh Province International Festival 2080′ held in Lahan from April 12 to 22 recorded transactions exceeding Rs 15.9 million. The event was organised by the District Chamber of Commerce, Lahan.
Information about the details of the event transactions was shared through a press meet on Sunday. The net profit from the event is Rs 1,079,656 while the organisers contributed Rs 872,564 as revenue to the government.
As part of their social responsibility policy, fifteen percent of the profit was allocated to procuring relief materials for the fire victims in Saptari. The remaining funds will also be spent in social sectors, according to Chamber President Bikash Sarada.
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Communications Secretary Subedi visits RSS’ Republic Day Photo Exhibition
Kathmandu, May 27: Secretary at the Ministry of Communications and Information Technology, Ramkrishna Subedi, on Monday, visited a photo exhibition organised by the National News Agency (Rastriya Samachar Samiti-RSS) on the occasion of the Republic Day-2081 BS.
The event is themed “Accomplishment of the Republic: Infrastructure for Prosperity” and during the observation, the secretary said Nepal is witnessing significant progress in the area of infrastructure development.
During the visit, RSS executive chair Dharmendra Jha, deputy-general manager Somnath Lamichhane, RSS board of directors’ member Krishna Adhikari, and Chief Editor Uttam Silwal briefed the secretary about the features of photos put in the exhibition.
The exhibition underway since May 23 features 90 photos illustrating various infrastructure development projects from the central to local levels which were used by the RSS photo service.
These photos are about the historic monuments rebuilt after the 2015 Gorkha earthquake, human, education, health, and industrial developments, roads, drinking water, electricity projects, and so on. The exhibition highlights development endeavours from all seven provinces.
The RSS organised this kind of photo exhibition for the first time last year on the occasion of Republic Day and the theme of the exhibition was “Our Culture: Our Heritage”.
Photos related to energy, airport, tourism, roads, bridges, reconstructed heritages, postal highway, Mulpani Cricket Ground, Kathmandu-Madhes fast track, Sunkoshi-Marin diversion multi-purpose project, solar panel, 4G towers of telephone, national pride projects and pride projects of provinces have been put on display in the exhibition.
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207 small-scale industries closed in Rupandehi
Bhairahawa (Rupandehi), May 27: A total of 207 small-scale industries have been closed in 10 months of the current fiscal year 2023-24 in Rupandehi district due to economic crisis.
According to Netra Prasad Bhusal, chief of Cottage and Small Industries Office, Rupandehi, two hundred and seven industries are closed till April this year. Similarly, 217 industries were closed in last fiscal year in the district.
Bhusal shared that the effect of the economic recession was also adversely seen in the district which has directly affected the industry sectors.
He said that along with the decrease in production, commercial transactions are also decreasing. Economic recession has also affected in operation of new business as well, Bhusal said. As 1,304 businesses were registered last year, only 1,175 have been registered in the current year.
Likewise, the number of business closures was 19 in last fiscal year, while 26 businesses have been closed so far in the current fiscal year, Chief Bhusal informed.
According to Thakur Kumar Shrestha, chairman of the Federation of Nepalese Chamber of Commerce and Industry, Rupandehi chapter, manufacturing industries are also badly affected by economic crisis.
He said that the situation of business and other construction industries is also critical. He is of the views that the government should implement the suggestions given by the businessmen on time. He emphasized that the issues raised by the private sector should be addressed in the upcoming budget.
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Ruling parties should listen to opposition: NC Leader Koirala
Kathmandu, May 27: Major opposition party, Nepali Congress leader Dr. Shekhar Koirala has said that the ruling parties went ahead against the belief that the parliament belongs to the opposition in the parliamentary system.
Speaking in the welcome Programme for new comer students organized by Nepal Students’ Union, Ayurved Campus Committee here today, he said that the ruling parties should not teach the Congress about the parliamentary system.
“In the parliamentary system, the parliament is said to belong to the opposition, but here the ruling parties are trying to move ahead without listening to the opposition”, Dr. Koirala said, “Congress does not need to be taught about the parliamentary system by any political party. Congress is firm to its stand.”
Leader Dr. Koirala urged the government to end ongoing deadlock in the Parliament by forming a parliamentary probe committee demanded by the NC on the misappropriation of cooperative funds. Dr Koirala said, “Congress is in no hurry mood to join the government. We are clear about moving forward by prioritizing the country and people’s agendas.”
Dr. Koirala emphasized the importance of Ayurvedic education in Nepal. He said its relevancy is increasing day by day and that the state should focus on addressing the issues that surfaced in the field of Ayurvedic science.
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Birgunj schools suspend classes for three days due to extreme heat
Birgunj, May 27: Schools in Birgunj metropolis have been closed for three days. Due to the rise in temperature in the area around Birgunj, the schools are going to be closed for three days from May 29 to 31.
With this decision, both community and private schools will suspend their classes for three days.
Arvindalal Karna, head of Birgunj Metropolitan City Educational Administration Division, said that due to the extreme heat, they decided to close the schools. He added that they were reported to close the schools for few days from parents, students and teachers. It is said that the decision was taken as heat-wave could significantly impact the students’ and teachers’ health while conducting the classes in schools.
According to the decision of the Education Committee of the metropolis on April 29, it was decided to start classes from 6 am because of unfavorable weather (extreme heat) during the day time. The classes were conducted in the morning since May 2.
There are 92 community schools and 138 private schools in the metropolis.
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Himalayan Literature Festival kicks off in Thamel
Kathmandu May 27: The Himalayan Literature Festival has kicked off in Thamel, a major tourist destination of the federal capital from today. A two-day literature festival has started at Kathmandu Guest House in Thamel. The festival is jointly organized by the New York Writers Workshop and White Lotus Book Shop Lalitpur. The festival was jointly inaugurated amidst a function today by Minister for Women, Children and Senior Citizens Bhagwati Chaudhary and British Ambassador to Nepal Rob Fenn.
Addressing the event, Minister Chaudhary said that the festival will play an important role as a bridge to connect Nepali literature with world literature. She noted that discussions on contribution of poet and dramatist Gopal Prasad Rimal in such literature festival was a matter of pride for Nepali literature.
Minister Chaudhary urged the writers to highlight the world’s environmental protection, climate change, issues of women, children and senior citizens, and promotion of tourism through literature and arts.
Similarly, British Ambassador Fenn mentioned that such programme plays an important role in connecting world literature to Nepali literature.
On the occasion, ambassador Fenn also recited his poetry.
Founder of White Lotus Book Shop, Yuyutsu RD Sharma, informed that in the festival, which will be conducted till Tuesday, there will be group discussions, poetry recitations, book releases, and drama performances. The programme will be divided into three separate thematic sessions.
On the occasion, ‘Chamero: Corona Kavita’ (Poems on COVID-19 Pandemic) penned by Shyam Rimal will be released.
Writers and poets from Nepal, Panama, Greece, Britain, America, Hong Kong, India, Philippines, South Africa and other countries will present their writings in the festival.
According to organizer, more than 35 writers from five continents are participating in the festival.
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Bagamati province’s policies and programmes endorsed
Manahari ( Makwanpur), May 27: A meeting of the council of ministers under the Bagamati province government today endorsed the government’s policies and programs for an upcoming fiscal year.
The full meeting of the council of ministers agreed to pass the policies and programmes with the decision to present them in the Province Assembly meeting.
According to government spokesperson and minister for international affairs and law, Ganga Narayan Shrestha, the policies and programmes for the fiscal year 2081-82 BS ( 2024-25) were endorsed by the meeting. The fresh policies and programmes of the province government accord priority to the promotion of agriculture, tourism, education, and employment sectors.
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