Transport department amends rules so vehicle buyers can act through a representative

Transport department lets a representative register and transfer vehicles for buyers

Buyers of new and used vehicles need not go to a transport office themselves to register a vehicle or take over its ownership, under amended rules. The Department of Transport Management amended parts of the Transport Management Procedure Directive, 2060 in a notice dated Asoj 26 (Monday, October 12), after a ministerial-level decision the same day, Bizshala and OnlineKhabar reported.

A person holding power of attorney can now complete the registration or the transfer. That person still has to attend the office, with their own government ID, the buyer's photo and the buyer's original ID. A dealer's inspection of the vehicle is also accepted, so the buyer does not have to bring it in for another check.

Owners also need not appear in person to insure a vehicle or renew its insurance, both outlets said.

One part waits. Taking sellers' and companies' biometrics through dealers depends on a separate technical notice for the Vehicle Registration System, which has not been issued. Neither report gives a date from which transport offices apply the new rules.

Why it matters: The reports leave open when offices will start working this way. Collecting biometrics through dealers depends on the technical notice, the reports say, and no date has been given for it.

Siddhartha Bank's board proposes a 20 percent dividend

Siddhartha Bank's board has proposed 10 percent bonus shares and 10 percent cash for FY 2082/83, on net profit of about Rs 3.47 billion, Merolagani reported. It needs Nepal Rastra Bank's approval and the annual general meeting's.

NEPSE edges up on Monday as more stocks fall than rise

NEPSE closed at 2,595.81 on Monday, up 4.01 points or 0.15 percent from Friday's 2,591.80, according to ShareSansar's market page. Turnover was about Rs 4.47 billion, down from about Rs 4.8 billion on Friday.

The gain was narrow. Of the securities traded, 165 fell, 105 rose and 7 were unchanged, OnlineKhabar reported. The banking sub-index rose 1.01 percent and the trading group 1.02 percent.

Government approves a procedure for price adjustment in public construction contracts

The government approved the Special Price Adjustment Procedure, 2083 on Asoj 23 (October 9), Bizshala reported on Monday, when the Nepal Construction Entrepreneurs' Federation welcomed it. The Cabinet had decided on October 5 to allow such adjustment, Kantipur reported then.

The procedure covers contracts where an international war disrupted supply and pushed up the cost of materials, labour, fuel, equipment or transport. Only a rise above 10 percent counts, and any adjustment is capped at 25 percent of the initial contract amount, according to OnlineKhabar. Contractors apply within a month of the ministry's notice. The agency then has 45 days to decide, OnlineKhabar reported.

Why it matters: Neither report gives the formula for the adjustment, a start date, or how much money the government expects to pay out.

Customs cancelled six EXIM codes for every new one last fiscal year

The Department of Customs cancelled 29,715 EXIM codes in FY 2082/83, registered 4,748 new ones and renewed 52,030, OnlineKhabar reported from department data. The report does not say why the codes were cancelled.

Kalimati vegetable prices run far above last year's ahead of Dashain

Green onion was priced at Rs 275 on the Kalimati market on Asoj 26 (Monday), against Rs 75 on the same day last year, according to the market committee's comparison carried by OnlineKhabar. Green chilli went from Rs 45 to Rs 125. Daily arrivals at Kalimati have risen from about 500 tonnes to 600, a market official said, but retail prices had not come down.

The government-owned food trading company will not sell goats this Dashain, Kantipur reported. The Livestock Services Department's director general told the paper the rise in retail meat prices was unnatural.

Himalaya Airlines pays Rs 200 million of its airport dues

Himalaya Airlines paid Rs 200.16 million to Tribhuvan International Airport on Asoj 21 (October 7) and still owes Rs 429 million, Kantipur reported on Monday.

Why it matters: Before the payment the dues stood at about Rs 629 million, of which about Rs 440 million was passenger service charges collected from travellers, Kantipur reported on October 7.

Food department bars chemical-laced fat sold under ghee names

The Department of Food Technology and Quality Control barred producing, storing or selling fats mixed with chemicals or mineral oil as food ghee, bakery shortening or puja ghee, OnlineKhabar reported. Fat for worship only must be labelled not for eating.

Cross-company gas cylinder swap grows to 11 Valley points and ends on Friday

Five more points joined the LPG cylinder swap in the Kathmandu Valley on Monday, making 11, Kantipur and OnlineKhabar reported. It now runs 11 am to 4:30 pm and ends on Asoj 30 (October 16).

Maldhunga bridge on the Pokhara-Baglung road reopens

The Maldhunga bridge over the Kali Gandaki reopened to traffic on Monday, the 16th day since the Asoj 11 (September 27) flood damaged it, Kantipur and OnlineKhabar reported. Permanent works are planned after Tihar, Kantipur said.