Biz journos’ training

KATHMANDU: Nepali journalists working in various media left Nepal for high-level reporting training in New York of the United States on Saturday. Reuter is organizing the training with financial assistance from Nepal Rastra Bank (NRB) between January 25 to 29. NRB official Rajendra Rimal is leading the trainee team of Bhagwan Khadaka from Annapurna Post, Shiva Duwadi from Rajdhani, Madhukar Adhikari from The Bankers magazine, Ranchandra Bhatta from Nagarik, Maina Dhital from Kantipur and Sudarshan Oli from Kantipur Television.

‘Withdraw VAT’

KATHMANDU: Nepal Flour Mills’ Association (NFMA) has urged the government to withdraw value added tax (VAT) saying that VAT has made it difficult for entrepreneurs to survive. Issuing a press statement, NFMA on Saturday demanded complete withdrawal of VAT. The government is giving 25 per cent exemption in VAT from this year after reducing the 50 per cent exemption last year. The umbrella organization of flour mills also asked for subsidy to tackle the 3-4 per cent interest rate hike due to liquidity crunch. NFMA has also demanded that the export tax of 15 per cent on chokar (coarse dust of wheat) be scrapped.

Chitracar in SAFA

KATHMANDU: Komal Chitracar, immediate vice-president of South Asian Federation of Accountants (SAFA), was elected SAFA president on Saturday. The seventeenth assembly of SAFA elected him for the year 2010. A N Raman of Institute of Cost and Works Accounts of India was elected vice-president. SAFA has more than 1,70,000 members in SAARC countries. It was established in 1984 and the Institute of Chartered Accounts of Nepal is a member of the organization since its establishment in 1997.

Investment campaign

KATHMANDU: SB Company Pvt Ltd, a derivative market broker, started investment awareness campaign in Kathmandu on Saturday. Around 40 potential investors participated in the two-hour camp held to educate people about risks and benefits of commodity trading. “We are also educating people about the prospects of the market,” said Damodar Joshi, commodity broker. SB Company will organize more such campaigns.