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Kathmandu-Kerung railway feasibility study begins

Gorkha Post

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KATHMANDU — The joint study team of the 75-kilometre-long Kathmandu-Kerung railway has started feasibility study from Tuesday.

The comprises eight Chinese officials from China Railway First Survey and Design Institute Group, officials and engineers from the Department of Railways (DoRW) and local consultant.

The eight officials including five engineers from the Chinese company arrived in the Capital on Monday for the study,according to Prakash Bhakta Upadhyaya, spokesperson for DoRW.

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Foreign Affairs Minister Pradeep Kumar Gyawali had signed an agreement with the Chinese railways authorities to conduct the detailed feasibility study (DFS) utilising the Chinese support during his visit to the northern neighbour in April.

A Chinese technical team, led by Jhang Lee Yang, deputy administrator of National Railway Administration, had conducted a field study in November last year and suggested that the project was technically feasible.

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Economy

Business community demands slash in interest rate

Pratigya Waiju

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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.

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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.

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