Connect with us

Economy

Narayanhiti Museum collects more than Rs 230 million revenue

Gorkha Post

Published

on

KATHMANDU — The Narayanhiti Durbar Museum has collected more than Rs 230 million revenue after welcoming 2.7 million visitors in nine years of its operation.

The museum was opened for public on 27th February, 2009, following the announcement of a republic in Nepal on May 28, 2008, with the abolition of around 240-year-old monarchy. It raised over Rs 230 million from the sale of entry tickets and around Rs 1.5 million as parking fees in this period.

The museum records show that so far, 2,721,485 people have visited it.

Of them, as many as 1,145,510 were Nepali students, 1,365,091 were common people, 155,576 were from the SAARC countries and China, and 65,308 people had arrived from other countries.

ALSO READ :  Sajha Yatayat begins operation of disabled-friendly bus in the Valley

“The museum charges a Nepali student Rs 20 as entry fees, it is Rs 200 for a visitor from home while Rs 250 for a guest from the SAARC countries and China and Rs 500 for nationals from other countries,” according to Information Officer at the Museum Adait Shrestha.

Till the first nine months of the current fiscal, 235,534 people visited the museum. The collected revenue also includes the vehicles’ parking fees. The museum remains open for public from 11:00 am to 3:00 pm five days in a week (except Tuesday and Wednesday).

The palace that long served as the residence of the then ruling monarchs of Nepal was turned into a museum, following the introduction of a new system in the country.

Continue Reading

Economy

NRB to unveil monetary policy today

Gorkha Post

Published

on

KATHMANDU — Nepal Rastra Bank is unveiling the Monetary Policy 2018-19 on Wednesday, introducing a provision whereby domestic commercial banks will be able to hedge against convertible foreign currency by borrowing from foreign banks.

The central regulatory and monetary authority has opened a borrowing facility from foreign banks to meet the credit requirement in the production and infrastructure sectors, according to central bank sources.

The Monetary Policy is expected to bring down the cash reserve ratio from six per cent of the current fiscal to five per cent, eyeing the liquidity scenario.

ALSO READ :  Public deposit should be secured: Governor Nepal

The monetary policy for the next fiscal will also narrow down the weighted interest spread rate from five per cent. In the context of commercial banks not being able to meet the priority sector lending mainly in the agriculture sector, the monetary policy is likely to extend a year’s period for banks to meet the priority sector or productive sector lending provision.

The Financial Sector Development Strategy of the government has also envisioned narrowing down the weighted interest rate spread.

According to the sources, the monetary policy would ease the provision of margin lending due to the depression witnessed in the stock market.

Continue Reading

TOP PICKS