Revenue nearly meets Asoj target but trails three-month goal by Rs 30.45 billion

Revenue nearly meets the Asoj target but the first quarter falls Rs 30.45 billion short

The government collected Rs 115.19 billion in revenue in Asoj against a target of Rs 115.41 billion, according to Finance Ministry figures reported by Bizshala on Sunday. That is 99.8 percent of the month's goal, about Rs 220 million short.

The first three months of FY 2083/84 tell a different story. Collection to Asoj 30 (October 16) was Rs 299.77 billion against a target of Rs 330.22 billion. That leaves a gap of Rs 30.45 billion, or about 90.8 percent of the target met.

Collection is still well up on last year. Asoj revenue was 36.5 percent higher than the Rs 84.41 billion of Asoj a year earlier. The three-month total was 23.3 percent above last year's Rs 243.12 billion, the report said.

The annual target is Rs 1,580.32 billion, so about 19 percent has come in after three months. The report said value added tax came in as expected and income tax grew less than hoped. It gives no figures by tax and no reason for the rise.

Why it matters: A year earlier the first quarter brought in 75.6 percent of its Rs 321.56 billion target, Bizshala reported. After two months this year collection stood at 85.93 percent of target, OnlineKhabar English reported in September.

About Rs 100 billion in notes left the central bank in Asoj, Kantipur reports

About Rs 100 billion in notes went out of Nepal Rastra Bank between Asoj 1 and 30, Kantipur reported on Sunday, citing Anuj Dahal, head of the bank's Currency Management Department. Rs 16 billion of it was new notes of Rs 5 to Rs 100. Banks and financial institutions took Rs 12 billion of those and the public Rs 4 billion.

The other Rs 84 billion was in Rs 500 and Rs 1,000 notes. Currency in circulation reached Rs 898.25 billion, against Rs 786 billion in Asoj last year, the paper said. That is a rise of about 14 percent.

Why it matters: The figures rest on one report, and no central bank table carrying them was found. Kantipur does not say on which day the circulation figure was measured.

Tatopani crossing opens to cargo vehicles for three days, to October 20

The Tatopani crossing with China opened on Sunday for three days, October 18 to 20, for cargo vehicles only, the Ministry of Industry, Commerce and Supplies said, as Kantipur and OnlineKhabar English reported. Minister Deepak Kumar Sah said the Chinese side agreed to the temporary opening at Nepal's request.

Customs said it was open and ready. No cargo vehicles had arrived when Kantipur wrote. Containers of Dashain goods are queued at Lipping and Kodari, and more than 45 are held at Nyalam on the Chinese side, Kantipur reported.

China has not decided whether to run the crossing regularly, The Kathmandu Post reported. The crossing had been shut since late August, the Post reported in September.

Why it matters: Shipping a container to Kathmandu costs about Rs 50,000 through Tatopani and up to Rs 500,000 through Korala, The Kathmandu Post reported on Saturday. No report says whether the window can be extended past Tuesday.

Food regulator bans imports and sale of Priyagold biscuits and orders a recall

The Food Technology and Quality Control Department suspended import approval and border entry for Priyagold biscuits on Sunday, OnlineKhabar reported. Its notice of Kattik 1 bans sale and distribution of all batches and orders stock on the market recalled. The biscuits are made by India's Surya Food and Agro.

The department cited an Indian finding that cattle-feed bran was used in the product, as both outlets relayed it. Sellers who carry on face action under the Food Hygiene and Quality Act, 2081. The ban stands until a further order, Bizshala reported.

Why it matters: Neither report gives the volume or value of the biscuits imported, and the department's notice itself could not be opened for this digest.

Fruit trader tells the Post Chinese apple prices are up Rs 40 to Rs 50 a kg

Ordinary Chinese apples cost Rs 40 to Rs 50 a kg more with the Rasuwagadhi and Tatopani routes disrupted, a fruit trader told The Kathmandu Post. Ordinary domestic apples sell wholesale at Rs 250 to Rs 270 a kg, he said.

Kaligandaki Corridor line carries power again on a temporary tower

One 220 kV circuit of the Kaligandaki Corridor transmission line was charged on Saturday night on a temporary tower, the Nepal Electricity Authority said, as Kantipur reported. Five hydropower projects with 170 MW between them are feeding the national grid again through Dana substation, Kantipur and OnlineKhabar reported.

The Asoj 11 (September 27) flood damaged four towers in Annapurna Rural Municipality, Myagdi, three of them completely. Power came back about three weeks later. Permanent towers are still being built. No report gives a date for them.

Why it matters: The line runs about 130 km and can carry about 1,200 MW, Kantipur reported. Only one of its circuits is back, and no report says when the second will be.