Nepal | August 13, 2020

Govt assessing impact of COVID-19 on several sectors

Himalayan News Service
Share Now:

Kathmandu, March 20

While the private sector is seeking supportive packages from the government to sustain their businesses, which have been badly hit due to the global outbreak of coronavirus, the Ministry of Finance (MoF) has said that it is carrying out impact assessment of the virus on different sectors.

Sishir Dhungana, secretary at the Ministry of Finance, said that though it is clear that the coronavirus has affected the entire economy of the country, the government is currently assessing sector-specific impact of the pandemic.

Once the assessment is completed, Dhungana said that the government will introduce necessary measures to support the economy and the private sector.

Addressing a press conference on Thursday, Finance Minister Yubaraj Khatiwada had stated that the coronavirus impact on the economy would be temporary and all affected sectors, including tourism, would start reviving soon. However, he had vowed to introduce relief packages in the near future addressing the key concerns of the entire private sector.

Among others, tourism entrepreneurs have been seeking special relief packages from the government citing that the coronavirus has hit the tourism sector the most compared to other sectors.

As the inflow of foreign tourists has halted completely, while the movement of domestic tourists has also slowed down, tourism entrepreneurs have started shutting down their businesses gradually.

Among others, five-star hotel Marriott has shut its business from today, while Hyatt Regency has announced it is temporarily ceasing its operations from Saturday.

Tourism entrepreneurs have been primarily urging the government to adopt flexible policies regarding tax clearance and payments to banks. Citing that the flow of cash in the tourism industry is completely down, hoteliers have said that they are currently not in a position to pay any taxes and payments to banks and financial institutions.

Similarly, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has already urged the government to facilitate the private sector in issues related to tax payment and loan clearance with the banks.

Pashupati Murarka, former president of FNCCI, said that effective coordination between the private sector and the government to protect the business and the entire economy is crucial at this moment.

“Almost every sector has been affected by coronavirus. It is necessary that the government properly carries out assessment of the impact of the virus and introduce measures to address them immediately,” he said.


A version of this article appears in print on March 21, 2020 of The Himalayan Times.


Follow The Himalayan Times on Twitter and Facebook

Recommended Stories:

More from The Himalayan Times:

Kaski district

Rape accused APF SSP Adhikari remanded to judicial custody

POKHARA, AUGUST 11 Kaski District Court remanded rape accused SSP Rajendra Prasad Adhikari to judicial custody today. A single bench of district judge Dipak Kumar Kharel issued the remand order after hearing on the case yesterday and today. SSP Adhikari has been sent to Kaski District Jail. Read More...

Party virus more dangerous than COVID, says CM Gurung

POKHARA, AUGUST 11 Gandaki Province chief minister Prithvisubba Gurung has said that more than the coronavirus it was the virus inside the party that had created trouble. Speaking at the 21st anniversary and award-distribution programme organised by the Federation of Nepalese Indigenous Nation Read More...

PA panel inspects damaged Besisahar-Chame road

LAMJUNG, AUGUST 11 The Finance and Development Committee of Gandaki Provincial Assembly inspected the Besisahar-Chame road section damaged by incessant rain. The committee led by Deepak Koirala highlighted the need to work through a fast track to restore the route. The rains have damaged th Read More...

Worldwide virus cases top 20 million, doubling in six weeks

It took six months for the world to reach 10 million confirmed cases of the coronavirus. It took just over six weeks for that number to double. The worldwide count of known COVID-19 infections climbed past 20 million on Monday, with more than half of them from just three countries: the US, India Read More...

Gold price drops below the 100k mark, silver also drops value

KATHMANDU: After weeks of steady rise in bullion market that lead to never-before records in prices of precious metals, gold price has now slid down to Rs 95,400 per tola, while silver price has reached Rs 1,210 per tola in the domestic market on Wednesday, According to the Federation of Nepal Go Read More...

Person under treatment at Patan Hospital succumbs to COVID-19

KATHMANDU: A 38-year-old woman, who had been receiving treatment for COVID-19 at the isolation ward of Patan Hospital, died past Tuesday midnight. The patient, resident of Janakpur in Dhanusha district, passed away at the Lalitpur-based hospital at around 1:00 am today, said Director of Patan Hos Read More...

Coronavirus vaccine: Russia ahead on track, who is next?

KATHMANDU: Over 150 vaccines are being developed and tested around the world to stop the COVID-19 pandemic, of which 28 are in human clinical trials, according to the World Health Organization. Meanwhile, Russia has become the first country in the world to grant regulatory approval to a COVID-19 Read More...

Former Mayor of Janakpur passes away in Lalitpur, was diagnosed with Covid-19

JANAKPURDHAM: Former Mayor of Janakpur Krishna Giri, who had contracted Coronavirus infection, has passed away. Giri breathed his last at Lalitpur based Mediciti Hospital on Tuesday night. According to sources, Giri, 72 had pre-existing heart condition. He was brought to Kathmandu for treatmen Read More...