KATHMANDU — The Ministry of Environment has approved the environmental impact assessment (EIA) report of Nigadh International Airport in Bara on Thursday.
Confirming the approval of EIA in his Twitter handle, Rabindra Adhikari, Minister for Culture, Tourism and Civil Aviation, said the approval has cleared path for the construction of the airport.
Nijgadh airport, the second international airport of Nepal located 175 kilometres south of Kathmandu, is expected to be the biggest airport in South Asia in terms of area.
More than 2.4 million small and large trees will have to be cut down to build the much talked about modern international airport as the planned construction site lies amid dense forest and will be spread over 8,000 hectares.
Likewise, nearly 90 percent of the project area is covered by Sal or Sakhua (Shorea robusta) trees. The market value of the lumber stands at over Rs 65 billion, which, officials said, will pay for half of the construction cost.
Business community demands slash in interest rate
BIRATNAGAR— The industrialists and traders in Biratnagar have asked the government to immediately reduce the high interest rate charged by the bank and financial institutions (BFIs) from the borrowers.
They argued that the interest rate should be around seven percent for the production-based industries and up to nine percent for the trading firms.
At a programme jointly organised by Industry Association Morang and Trade Association Morang on Thursday, the business leaders drew attention of the government to that end adding that job creation for the labour force of 500,000 was not likely only from the industry and trade sectors.
Stressing the need for slashing the interest rate, they also argued the central bank should realise the reality that no bank was running out of loss. The industrialists and businesspersons said that industries and business should flourish to reduce the trade deficit, strengthen the economy and create more job opportunities.
Industrialists Bhim Ghimire, Pawan Kumar Sharda, Sushen Pyakurel, Moti Dugad and others said that bank’s interest rate should be low to increase the domestic investment and lure the foreign investment.