Government sets Rs 1,450 daily minimum and social security for public contract workers

Government sets minimum pay and social security for workers on public contracts

Workers on public contracts must be paid at least Rs 1,450 a day and enrolled in the Social Security Fund, under a procedure the government has approved, Ratopati reported on Sunday. The law minister announced it. None of the reports gives an approval date or a start date.

An unskilled construction or field worker gets Rs 1,450 a day, or Rs 1,740 with social security added, OnlineKhabar reported. The top field-worker grade gets Rs 2,400 a day with social security. Industry and supplier workers get Rs 32,607 to Rs 45,844 a month, social security included. The top professional rate, for a team leader with more than 15 years of experience, is Rs 262,080 a month.

Social security comes to 20 percent of pay, 10 percent from the employer and 10 percent from the government or public body, Setopati and Kantipur reported. Wages must go into the worker's own bank account. Firms that do not enrol their workers are barred from public procurement. Repeated breaches of pay or worker rights bring a recommendation for blacklisting of at least a year.

The rules apply to contracts made after the procedure was issued, OnlineKhabar reported. Existing contracts are not mentioned.

Why it matters: None of the reports carried the procedure's own text or said from what date firms must comply.

Restoring the flood-hit financial sector will cost Rs 65.2 billion, OnlineKhabar reports

The National Planning Commission puts the cost of restoring the financial sector after the August Bhotekoshi flood at Rs 65.2 billion, OnlineKhabar reported. The bankers' association counts 78,204 depositors at 17 branches of 12 banks there.

Central bank sold about Rs 370 million of gold and silver coins, Kantipur reports

Nepal Rastra Bank sold coins worth about Rs 370 million on Thursday and Friday, about Rs 300 million of it gold asarfi and Rs 70 million silver, its spokesperson told Kantipur. On Friday only silver was on sale.

Fuel imports through Birgunj rise 86 percent in the first quarter as revenue rises 9 percent, Kantipur reports

Fuel worth Rs 71.31 billion came in through Birgunj customs in Saun to Asoj, the first quarter of FY 2083/84, against Rs 38.33 billion a year earlier, Kantipur reported from the customs office's figures. That is 86 percent more. Revenue from the imports rose 9.4 percent, to Rs 17.75 billion from Rs 16.23 billion.

Diesel came to Rs 37.23 billion, up from Rs 15.73 billion, while its volume rose by about a third to 231,956 kilolitres. Aviation fuel nearly doubled in value to Rs 8.02 billion. LPG rose to Rs 11.50 billion from Rs 7.49 billion.

The paper put the gap between value and revenue down to volumes, the mix of fuels, international prices and duty rates. It did not say how much each counted.

Why it matters: Birgunj handled more than Rs 238 billion of fuel imports over a full year, Kantipur reported in July. No customs table or second outlet with the quarter's figures was found.

Broom exports to India rise to Rs 311.9 million in the first quarter, Kantipur reports

Nepal exported 4,382,510 kg of brooms worth Rs 311.9 million to India in Saun to Asoj, against Rs 269.2 million a year earlier, Kantipur reported from Customs Department data. That is 15.9 percent more.

Shivam Cement's first-quarter profit falls 66 percent to Rs 70.6 million, Bizshala reports

Shivam Cement earned Rs 70.6 million in the first quarter of FY 2083/84, down 66.31 percent from Rs 209.7 million a year earlier, Bizshala reported from its unaudited statements. Sales income rose 16.69 percent.

Police count 35,858 people entering Mustang in the first half of Kattik

Mustang's district police counted 35,858 people entering the district from Kattik 1 to 15 (October 18 to November 1), 27,107 of them Nepali and 8,751 foreign, OnlineKhabar reported.

Power demand peaks at 1,813 MW on Laxmi Puja evening, 113 MW above the forecast

Demand on the national grid peaked at 1,813 MW on Sunday evening, Laxmi Puja, the Nepal Electricity Authority said, as The Kathmandu Post and OnlineKhabar reported. The authority had forecast about 1,700 MW. Last year's Laxmi Puja peak was 1,650 MW, Kantipur reported then. This year's was 163 MW, or 9.9 percent, higher.

Supply at the peak was 2,400.30 MW. The 587.30 MW left over was exported, to India by the Post's account and to India and Bangladesh by OnlineKhabar's. Kathmandu Valley's demand was about 489.50 MW.

Why it matters: Exports were 1,015 MW on last year's Laxmi Puja day, The Himalayan Times reported then.