The circular was issued on Sunday, states a press release, adding that CNI has asked all its members to enforce the No Work, No Pay policy that it recently adopted. Federation of Nepalese Chambers of Commerce and Industry (FNCCI) had also issued similar circular last month.
The private sector has said that they have been compelled to enforce the policy as the government continued to turn deaf ear to their demand, which is necessary for safeguarding the industrial environment. The announcement, however, has drawn flak from the trade unions.
Cardamom price soars
SANISCHARE, Jan 4: Cardamom, one of the major foreign exchange earner agro products of Nepal, has recorded the highest market price to date.
Cardamom of the first grade was purchased and sold at Rs 23,500 per 40 kg here, the Cardamom Entrepreneurs´ Association said. This is the highest market price of cardamom so far, Vice-President of the Association Dipak Nepal said.
The spiraling market price is a result of scarcity of the spice due to a low production owing to diseases. The price was just Rs 10,000 per 40 kg in August. Nepal is world´s biggest producer and exporter of cardamom.
Citizens Bank´s new saving scheme
KATHMANDU, Jan 4: Citizens Bank International Ltd on Monday announced a new account for depositors called the Citizens Super Bachat.
According to a statement from the bank, depositors will receive a return of seven percent on the account´s daily balance. However, the accountholders will have to maintain a balance of at least Rs 200,000 to receive the interest. The account will start on January 15.
According to the bank, accountholders will also be able to use SMS-banking for free. ATM cards and check books will also be provided without extra charge, it said. The bank will provide 25 percent off on lockers and 50 percent off on service charges while exchanging travelers´ checks to its Super Bachat clients. The bank will also not charge extra fee for accessing inter-banking facilities and its Any Branch Banking Service.
Meanwhile, the bank´s CEO Rajansingh Bhandari, who was recently elected Vice President of Nepal Bankers´ Association, said at a press conference that Citizens Bank was planning to launch international credit card services soon.
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