Motorbike sales zoom 42 percent

KATHMANDU, JUL 22 - Sales of two-wheelers in the Kathmandu Valley increased by a whopping 42 percent during the last fiscal year compared to the previous fiscal. The surge has been attributed to aggressive promotional schemes launched by distributors to reverse slumping sales caused by a liquidity crisis in the banking system.

A total of 69,359 units of various types of motorbikes were registered at the Bagmati Zone Transport Office in fiscal 2009/10 against 48,811 units in the previous FY.  “Sales of bikes have gone up significantly in the capital as it is easy and affordable compared to four-wheelers,” said Madan Singh Mahat, office in-charge and under secretary of the Motorcycle Unit. “Moreover, the various promotional schemes launched on different occasions also supported the growth.”

Trolley buses to be back?

                  

KATHMANDU, JUL 09 - The government is planning to bring back trolley buses in the Kathmandu Valley under the Kathmandu Sustainable Urban Transport (KSUT) project funded by the Asian Development Bank (ADB).

According to the Ministry of Physical Planning and Works, the project would introduce trolley buses most likely on the Ring Road, the Bishnumati Link Road and the Bhaktapur-Kathmandu route under the second phase of the KSUT that is scheduled to start in 2013.

“Even though we had a bad experience of operating trolley buses, the new system will be managed and operated by the private sector with funding from the government,” said Purna Kadariya, secretary of the Ministry of Physical Planning. “Loans will be provided to interested firms by the government.”

Budgets too slow keep bridges too far

KATHMANDU: The government’s target to complete construction of 71 bridges within the current fiscal year is not going to be fulfilled as the required extra funds have been delayed.

The Ministry of Physical Planning and Works had asked the Ministry of Finance to allocate an additional budget of Rs. 949.4 million four months ago. However, the ministry approved the proposal only about five weeks ago.

“The lengthy process leading to the approval of the additional budget has delayed construction,” said a source at the ministry. “As a result, only around 50 bridges will be completed as we don’t have sufficient time to finish the rest within this fiscal year.”

850 kg of gold imported under quota system

KATHMANDU: The seven commercial banks authorised to import gold have brought in a total of 850 kg under Nepal Rastra Bank’s (NRB) quota system as of June 18, said the Nepal Bankers Association (NBA).
“We have imported 850 kg of gold as of Friday and issued recommendations for 900 kg,” said Saroj Guragain, coordinator of the gold importing banks at the NBA. “Now, we have 40-50 kg of gold in stock, and the process to import more as per the provision is going on.”