KATHMANDU, June 20: The Supreme Court on Wednesday ordered the Insurance Board (IB) not to enforce a decision to sack its executive director, Binod Aryal, for at least a week.
The stay order was issued by a single bench of officiating Chief Justice Damodar Prasad Sharma hours after the IB, the insurance sector regulator, took a decision to relieve Aryal from his job.
KATHMANDU, June 20: Most dairies in the Valley are found to be operating without a license from the Department of Food Technology and Quality Control (DFTQC). A study by the National Dairy Development Board (NDDB) shows that there are some 800 dairies in operation nationwide, and of these, only 26 have a license.
Though the study shows that many dairies have no license, DFTQC has not been able to take any action against those operating without license.
“It is true that many dairies are operating without license, and they will face legal action,” said Pramod Koirala, spokesperson of DFTQC, adding that they have not been able to monitor all of them due to lack of infrastructure and manpower.
KATHMANDU, June 19: As the government is busy preparing budget for the upcoming fiscal year 2013/14, business community has requested the government to increase income tax threshold to Rs 400,000 for individuals and Rs 500,000 for families, up from Rs 160,000 and Rs 200,000, respectively.
Presenting suggestions of the private sector at a pre-budget budget discussion here on Wednesday, Hari Bhakta Sharma vice president of the Confederation of Nepalese Industries (CNI), said the government should scrap the additional 40 percent tax that is imposed on firms having disposable income of more than Rs 2.5 million. “Our request is to make Nepal a country with low income tax,” Sharma added.
KATHMANDU, June 19: Nepali rupee has slumped to another all-time low against the US dollar after the Indian currency, with which Nepali rupee is pegged, continued to shed its value.
Nepali rupee will open at 94.25 per US dollar on Thursday morning, as against Wednesday´s 94.05, after the Indian currency lost its value due to continuous dumping of Indian shares by foreign institutional investors.
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