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Muglin-Narayangadh road to open 24 hrs from today

Gorkha Post

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CHITWAN — The Muglin-Narayangadh road section — that used to be closed for 6 hours from 10am to 4pm everyday — will now be open 24 hours will now be operational round-the-clock from Wednesday, according to project officials.

Narayangadh-Muglin road project information officer Engineer Shiva Khanal informed that about 91.5 percent work at the 36-km road section has been completed.

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According to officials, the first phase of the blacktop of 33.2 kilometres road was completed last midnight. Likewise, second layer of blacktop was completed in 32.7 kms while the third layer was also completed in 12.7 kms.

The first and second layer of the blacktop would be each six centimetre each while the third layer would be four centimetre thick.

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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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