KATHMANDU — The Kathmandu Metropolitan City (KMC) is all set to construct eight new over-head bridges at different locations in Kathmandu valley to ease traffic congestions.
The metropolitan is coordinating with the Traffic Police and the Department of Road for the construction of the bridges, according to KMC’s Physical Infrastructures Division Chief Ram Bahadur Thapa.
The construction of the modern and new types of overhead bridges is expected to ease traffic congestions and reduce the number of road accidents.
The over-head bridges will be built in Teku Bhansar, Tripurashwor, Maitighar, Babar Mahal (Kathmandu District Court), Putalisadak, Maharajgunj, Koteshwor and Gausha, Thapa added.
The KMC has allocated Rs 120 million budget to construct new bridges in the valley.
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.