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Sweeping Governance Overhaul: PM’s Advisor Vows New Ordinances Will Smash Red Tape

Prime Minister’s advisor Asim Shah has defended the government's latest ordinances, stating they are essential for removing legal bottlenecks and improving public service delivery.

Published Updated By Share Gyan
Sweeping Governance Overhaul: PM’s Advisor Vows New Ordinances Will Smash Red Tape

Asim Shah, political advisor to Prime Minister Balendra Shah, recently justified the government's introduction of new ordinances, characterizing them as a move to uphold democratic values while ensuring faster public service. He explained that these legal measures are intended to eliminate administrative hurdles that have historically delayed progress on public concerns. Shah noted that the ordinances address deep-seated policy complexities within the current system. Following a cabinet recommendation on April 27, the ordinances were sent to President Ramchandra Paudel for authentication. Shah also referenced the Rastriya Swatantra Party (RSP) President’s earlier call for governance reforms that align with the public's mandate. He emphasized that these changes aim to foster result-oriented governance rather than benefiting specific individuals or groups, ultimately strengthening the state's functional capacity.

Nepal Rastra Bank Publishes Thursday's Foreign Exchange Rates; US Dollar at Rs. 149.61

Nepal Rastra Bank (NRB) has published the official foreign exchange rates for Thursday. The buying rate of one US dollar has been fixed at Rs. 149.61 and the selling rate at Rs. 150.21. The British Pound Sterling has recorded the highest value among the major currencies listed, with a selling rate of Rs. 200.16.

Gold Price Plunges by Rs. 5,900 Per Tola on Dhanteras; Silver Also Declines

Gold and silver prices recorded a sharp decline in the Nepali market on Friday, Kartik 20, coinciding with Dhanteras. Gold fell by Rs. 5,900 per tola to Rs. 283,000, while silver dropped by Rs. 110 per tola.

Nepal's VAT Collection Exceeds Target as Consumer Reward Scheme Boosts Tax Compliance

Nepal's VAT collection exceeded its first-quarter target in FY 2083/84, reaching Rs. 41.04 billion, up 10% compared to the same period last year. The increase comes after the Inland Revenue Department introduced a consumer reward scheme encouraging people to demand bills when making purchases.

Nepal Estimates $5 Billion Needed for Reconstruction After Bhotekoshi-Trishuli Disasters

Finance Minister Dr. Swarnim Wagle has estimated that Nepal will require approximately $4.7 billion to $5 billion for reconstruction following the disasters in the Bhotekoshi and Trishuli regions. The government is preparing a phased financing plan, including financial support from India, China, the World Bank and the Asian Development Bank (ADB).

Maya Khola Hydropower's Net Profit Surges 124.52% to Rs 6.38 Crore in Q1

Maya Khola Hydropower Company Limited (MKHC) has reported a 124.52 percent increase in net profit, earning Rs 6.38 crore in the first quarter of FY 2083/84, compared to Rs 2.84 crore in the same period last year. Higher electricity sales revenue and lower interest expenses supported the company's improved profitability.

Khani Khola Hydropower Turns Profitable, Reports Rs 3.65 Crore Net Profit in Q1

Khani Khola Hydropower Company Limited (KKHC) has made a remarkable financial turnaround, reporting a net profit of Rs 3.65 crore in the first quarter of FY 2083/84, compared to a net loss of Rs 1.89 crore in the same period last year.