by Rejaul Karim Byron in The Daily Star, Dec 29, 2023The government’s spending on interest payments against the mounting foreign debt surged 136.70 percent year-on-year to $562 million in the first five months of the current fiscal year as disbursements surged in recent years. The interest payment stood at $237 million in July-November of the previous financial year of 2022-23, data from the Economic Relations Division (ERD) showed. The fund release for the mega projects…
Posts tagged as “payment”
By Laxmi Gautam in The Kathmandu Post, Oct 12, 2023Nara Bahadur Tumbapo, a permanent resident of ward 5 in Phidim Municipality, reached the municipal office at around 10am on Wednesday to pay land tax. But he had to leave without making the payment as the office was closed due to employees’ protest. Tumbapo’s house is around one hour walk from the municipality office in Phidim. “I urgently needed the receipt of land tax clearance to…
by Krishana Prasain in The Kathmandu Post, June 27, 2023Chinese digital payment service WeChat Pay and NMB Bank Nepal have partnered to make the mobile payment system available in Nepal. The service which launched on Thursday allows Chinese nationals visiting Nepal to pay for their purchases using their mobile sets. In February 2020, Nepal Rastra Bank had allowed NMB Bank to establish infrastructure and a mechanism to bring WeChat Pay to Nepal. But Covid-19 got…
by Arun Devnath in Bloomberg, Apr 18, 2023Bangladesh has agreed to pay Russia about $300 million in yuan currency to settle payment for building a nuclear power plant near the capital city Dhaka, according to two officials familiar with the matter. The payment mechanism was finalized at a meeting last week, the officials said, declining to be identified citing rules. Russia initially refused to accept the payment in yuan on concerns of potential currency conversion…
by Rejaul Karim Byron in The Daily Star,Mar 16, 2023Russia has proposed a direct payment system bypassing the global standard SWIFT to settle the dues for Rooppur nuclear power plant as the Soviet nation looks to navigate the sanctions from the West following the Ukraine war. SWIFT is the messaging system used by financial institutions globally to convey instructions to carry out tens of millions of transactions each day. Most Russian banks are banned from…