TV, FM licences to go?

KATHMANDU: The Ministry of Information and Communications (MoIC) has initiated a process of scrapping licences of FM and television stations that have not started their broadcast.

The MOIC move apparently intends to discourage the trend of holding licenses and give opportunities to prospective broadcasting companies. MOIC statistics show, 40 FMs and 8 television companies (seven satellite and one terrestrial) have failed to go on air even after getting the license. Of them, one FM and seven television companies are based in Kathmandu. Some obtained licence four years ago and are renewing it annually without broadcasting programmes.

Police to file cases against Unity promoters

KATHMANDU: Nepal Police has decided to file cases of banking crime and fraud against promoters of Unity Life International, officials said. It has also prepared a report recommending action against them.

The banking crime charge invokes Bank and Financial Institution Act 2006 while the fraud case follows the Muluki Ain. An investigation panel formed under the Ministry of Finance had concluded that the company violated 12 different existing laws.

SP Bikram Thapa, chief of Metropolitan Police Range Lalitpur, said the police would lodge the charge sheet at the District Court Lalitpur on Friday.

Gold import crosses 14 tons

Country´s gold import crossed over 14.03 tons, which is about two-fold higher than the annual total demand, in mere first seven-and-a-half months of 2009/10 - thanks to cross-border duty difference and rising smuggling to India.

Nepal Gold and Silver Dealers´ Association (Negosida), which argues that the country´s total gold demand increased substantially this year with more people taking gold as alternate investment avenue, too estimates that the monthly national demand of yellow metal remains just at around 450 kg.

But statistics shows that import in each of the month from mid-July 2009 to February end 2010 well exceeded this figure -- highest one being 2,875 kg for the month ending mid-January (sixth month of the fiscal year).

Newsnp resumes blogging

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