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Muglin-Narayangadh road section deadline extended

Gorkha Post

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CHITWAN — The deadline for the construction of Muglin-Narayangadh road section has been extended by three months.

The Department of Road on Wednesday approved the request of the construction company to extend the deadline.

According to, engineer of Narayangarh-Muglin Road Project Shiva Khana, the deadline for first section is till May 10 while the deadline for second section is May 20. Likewise, the third section has got the deadline of May 30, 2018.

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Khanal said that the construction companies were lobbying for extension of the construction deadline for another 1000 days citing they were not getting time to work for different reasons but extended only for maximum three months.

The construction company was awarded the construction work in April 2015 to complete the project in 24 months. However, the deadline was extended citing earthquake, India’s blockade and flooding for two consecutive years.

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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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