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Vol.
3 : No.11 |
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Business News |
Shortly after Tihar the state-owned Nepal Telecommunication Corporation (NTC) is to start its short messaging service (SMS) as a regular feature for mobile phone users. This new service, as relates a source, will be free of cost until 16 November, after which, users will be charged for text messaging.
As the private mobile operators are expected to initiate services from the end of this year, NTC has recommended deduction on tariffs so as to tackle the potential competition from private operators. Spice Cell Nepal Pvt. Ltd, a joint – venture between Spice Cell of Modi Telestra India and the Khetan Group, is expected to commence operation by mid-January 2002.
Dialing the numbers of SMS service centre (+9779810-28801) and going to message menu of mobile set is the basic idea of this service. The procedure for writing and receiving text varies from set to set.
It is known that NTC currently has about 17,000 mobile subscribers, among them 15,5000 users belong to Kathmandu valley.
Meanwhile, it is learned that to meet the growing demand of cellular telephone, NTC has sought permission for 50 thousand more lines. The expansion, according to NTC, will require an additional investment of US$ 11.6 million.
NTC had started mobile telephony in 1999 with 17 cell stations in the capital and 3 base stations in Biratnagar, Birgunj and Pokhara with an investment of around US$ 8 million.
For 2002-2004, Asian Development Bank (ADB) has granted US$ 306 million in soft loans and US$ 4 million as technical assistance in Nepal.
The major amount of borrowing is to be spent on poverty alleviation, in touch with Poverty Reduction Partnership Agreement between the government and ADB.
Besides, the technical assistance will be used to prepare projects which shall be funded by the loan. The disbursement of ADB assistance, says an ADB source, will depend upon assessment of performance of existing and new projects.
Asian Development Fund, in total, has sanctioned US$94 million between 1994-2000 for Nepal.
The state-owned national flag carrier, Royal Nepal Airlines Corporation (RNAC), has recently started to operate its first commercial flight to Thamkhorka of Khotang district with the objective to expand its internal services.
It is learned that a trial flight to Thamkhara was successfully conducted. The one way fare of the flight has been fixed at Rs. 1,200.
With the intention to facilitate the people of rural areas to go home during Dashain, RNAC, in addition to its regular services, also operated 51 additional flights between October 16 and 22 at places which are deprived of road traffic.
Ravi Bhakta Shrestha, the president of Nepalese Chambers of Commerce and Industry (FNCCI), held talks with Ryoo Seeva, Ambassador of Republic of Korea to Nepal, on key issues like Nepal-Korea bilateral trade, investment, tourism promotion and expending economic relations, relates a press release from FNCCI.
Shrestha, the release informs, indicated the possibility of Korean investment on sectors like hydropower and information technology (IT) and, also related the beneficial aspects of direct flight between Korea and Nepal.
On the other hand, the Korean Ambassador urged FNCCI to support the Catalogue Show to the organized by Nepal-Korea Chamber of Commerce and Industry in Kathmandu in November.
An agreement was signed between Nepal Stock Exchange (Nepse) and Alpic Everest Finance Company Limited (AEFCL) to enlist the ordinary shares of the AEFCL in the stock market.
According to a press release issued by Nepse, a similar agreement was also signed between Nepse and Nepal Bangladesh Finance and Leasing Company (NBFLC) to enlist the shares of NBFLC in the stock market.
After the agreement between the companies and the Nepse, a total of two million units of ordinary shares of the AEFCL and three million units of ordinary shares of the NBFLC will be opened for transactions in the Nepse floor.
A seven-member Nepali delegation left for the Doha, of Quatar, to attend the fourth ministerial meet of the World Trade Organisation (WTO), scheduled to be held from November 9-13.
Purna Bahadur Khadka, Minister for Industry, Commerce, and Supplies, heads the delegation team which includes Bhanu Prasad Acharya, Secretary at the ministry, Prachanda Man Shrestha, Chief of the WTO cell in the ministry and Suresh Man Shrestha, Under Secretary at the ministry.
Besides, Posh Raj Pandey, Programme Manager of Nepal. Accession to WTO and Rajendra Kumar Khetan, Second Vice President of the Federation of Nepalese Chambers of Commerce and Industry are also participants from Nepal.
The delegation, it is learnt, would be joined by United Nations Permanent Representative to Geneva, Dr. Shambhu Ram Simkada and Nepali Ambassador to Qatar, Shyamanandra Suman.
Nepali delegales at the WTO meet according to a source at the Finance Ministry, is to raise its issues of concern on the strength of observer’s status. As other Least Developed Countries Nepal, too, is to put up vigorously issues like complicated accession process, especially in the backdrop that no least developed country has been able to access WTO membership since it came into existence in 1995.
Moreover, Nepal is to demand effective implementation of the whole gamut of the WTO agreements, the source adds. Similarly, Nepal would press the developed economies to work in a manner that can complement the achievements of the Third United Nation Conference on Least Developed Countries that was held in Brussels early this year. Furthermore, Nepal would voice on allowing duty free and auto free market access to products of the LCDs and developing countries, the source says.
Apart from WTO meet, the Nepali delegation would also hold informal discussion with different WTO member countries.
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