Friday, February 14, 2014

Inflation stands at 9.7 per cent in the sixth month



Inflation stood at 9.7 per cent in the sixth month of the current fiscal year, according to the central bank.
A month ago, in the fifth month, the price hike index stood at 10.3 per cent, though the government has claimed to contain it under 7.5 per cent.
The government has vowed to take stern action against black marketeers and  traders, who create artificial shortage of goods.
During a meeting of the Price Hike Control Monitoring Committee held at the Office of the Prime Minister and Council of Ministers today, the team decided to take effective action against anyone carrying out syndicate and cartel.
Secretary at the Office of the Prime Minister and Council of Ministers Krishna Hari Banskota on the occasion directed the regulatory authorities to take strong action against the black marketers, who are responsible for creating artificial shortage, hoarding and cartel.
He also urged the regulatory authorities to discourage middlemen, prevent cartel in transport fare and make display of price list mandatory.
Secretary at the Ministry of Commerce and Supplies Madhav Regmi informed that market monitoring has been intensified and those found distorting the fair market practice will be prosecuted.
Likewise, director general of the Department of Transport Management Sudarshan Dhakal said that presently 40,000 transport trucks were in operation and a provision has been implemented under which 10-wheel trucks operating from Birgunj to Kathmandu were not allowed to charge more than Rs 23,000. "The department will take action against transport syndicate," he added.
General Manager of Nepal Food Corporation Shiva Hari Shrestha briefed the meeting of food grain stock and supply situation. "Rice grain has been transported to 23 remote districts," he said, adding that the corporation presently has 155,000 quintals rice grain in stock and 90,000 quintals of paddy worth Rs 300 million has been bought from farmers. "The corporation plans to purchase 1.5 million quintals of paddy in the current fiscal year and Rs 460 million will be provided as transportation subsidies."

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