BOK’s new branch:

KATHMANDU: Bank of Kathmandu (BOK) today opened a new branch at Gongabu, in Kathmandu and plans to open the next branch at Kohalpur of Banke district on June 17. The bank is aggressively working on expanding its network to serve more people and contribute to the national economy through quality and competitive banking services, states a bank press release issued here today. —HNS

HAN’s tips for budget:

KATHMANDU: Hoteliers have asked the government to reduce the rate of value added tax (VAT) to 10 per cent from the existing 13 per cent. A delegation of Hotel Association Nepal (HAN), while presenting the budget recommendations today to finance minister Dr Ram Sharan Mahat, also asked the government to refund 50 per cent VAT amount raised from tourism industry to sick units of the industry. HAN has also demanded to provide concession on electricity tariff for the hotel and restaurants like other industry. The other demands include duty facility to import vehicles for tourism purposes and procurement of additional aircraft for the Nepal Airlines Corporation. — HNS