KATHMANDU, Oct 27: Several domestic and international firms were eying to build Tamakoshi-3, a hydroelectricity project of 650 MW capacity. They were hopeful for a call for competitive bidding, but a sudden move by Energy Secretary Anup Kumar Upadhyaya to award the project’s license to TBI Holdings left them utterly disappointed.
KATHMANDU, Oct 8: Transportation cost on Nepal's third country imports and exports via India has come down by at least Rs 15,000 per container after India waive Goods and Services Tax (GST) on all transit services provided to Nepal.
KATHMANDU, Sept 16: The issue of land purchase for Dharan airport is one of the reasons behind the annual budget of the Civil Aviation Authority of Nepal (CAAN) not being approved on Sunday, when a meeting of the CAAN board was scheduled.
KATHMANDU, Sept 12: Two sugar mills have signed initial agreements with the government to produce electricity. If it goes as planned, Indu Shankar Chini Udyoug Ltd will generate three megawatts of electricity from December by rotating an additional turbine by the steam of existing boiler. The mills use bagasse, a residue of sugar cane crushing, to heat the boiler.
KATHMANDU, Sept 5: Small contractors - of class 'C' and 'D' categories - have alleged office-bearers of Federation of Contractors Association of Nepal (FCAN) of being self-centered and forming a cartel to win contracts.
KATHMANDU, Sept 1: Nepal Oil Corporation (NOC) has been keeping infrastructure development fee, which it charges from the end customers, in its profit accounts. Such profits are directly allocated to the corporation’s staff bonus and other incentives, NOC balance sheet shows.
As per the balance sheet of 2015/16, NOC has put the fee into its profit accounts.
KATHMANDU, August 27
The Commission for the Investigation of Abuse of Authority (CIAA) is silent about investigating Managing Director of Nepal Oil Corporation Gopal Khadka although parliament’s Public Accounts Committee on August 5 asked it to take action against him.
KATHMANDU, August 13: The highways built along the no man's land on the Indian side of the border are the major reasons behind the floods in the tarai, according to Minister for Energy, Mahendra Bahadur Shahi.
KATHMANDU, August 6: Two Chartered Accountants (CAs), Lumba Dhwoj Mahat and Umesh Prasad Dhakal, are on the run after the Commission for the Investigation of Abuse of Authority (CIAA) filed case against them at the Special Court for their role in inflicting huge loss on the government while settling pending tax disputes.
KATHMANDU, Aug 3: Amid controversy over the Tax Settlement Commission (TSC), the government has initiated steps to establish a separate and permanent entity for settling tax disputes. A ‘Dispute Resolution Mechanism’ has been inserted in the Central Revenue Board Bill for forming an apex advisory body on matters of revenue, informed Revenue Secretary Shishir Kumar Dhungana. The bill is in the making at the Nepal Law Commission.
KATHMANDU, August 2: Nepal Electricity Authority (NEA) managed to bring down its annual loss to below Rs 1 billion in Fiscal Year in 2016/17, significantly down from a record high loss of Rs 8.89 billion in 2015/16.
KATHMANDU, July 31:The private sector has attempted at least twice to get the Tax Settlement Commission extended or a new commission formed. The controversial body has drawn huge criticism and also seen court cases involving a record high amount in corruption.