APECF DEVELOPMENT PLAN REVEALED

BoK NET PROFIT UP 18.83 PERCENT CCOMPARED TO PREVIOUS YEAR

Kathmandu, 12 Aug: Bank of Kathmandu (BoK) recorded a Rs. 605 1 million net profit in fiscal year 2067/68 that ended mid-July—a 18.83 percent increase compared to the previous year.
The board of directors announced 18 percent bonus shares along with a cash dividend of 16.75 percent for shareholders.
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AGRICULTURE DEVELOPMENT BANK CEO RESIGNS

Kathmandu, 12 Aug.: CEO of Agriculture Development Bank Shyam Singh Pande resigned Thursday.
He resigned following pressure from bank officials.
He was appointed two years ago for four years by then Finance Minister Surendra Pandey.
Bank board accepted the resignation.
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APECF DEVELOPMNT PLAN OF LUMBINI RELEASED




Kathmandu, 12 Aug.: With the main aim of making Lumbini, the birth place of Lord Buddha, as an international Buddhists religious centre, the Asia Pacific Exchange and Cooperation Foundation (APECF) Thursday made public its comprehensive ‘Lumbini Recovery Plan Outline’ here, The Rising Nepal reports.
Organising a press meet in the capital, the APECF made its 50-page recovery plan that has been divided into different seven sections including plans and objectives of the project.
According to the plan, the project will mainly concerns on establishing peace and spread the sense of brotherhood by developing Lumbini a well reputed international centre of Buddhism and culture.
It also aims at establishing an international Buddhists University in Lumbini.
Developing Lumbini as a tourist centre and preserving the historical sites of Lumbini are other objectives of the project which the APECF wants to carry out within the legitimate boundaries of the government of Nepal.
It emphasised on infrastructure development including roads, hotels and convention centre in Lumbini.
By alleviating poverty of the locals of Lumbini, this project wants to promote the cultural and religious values and enhance modern telecommunication, read the Outline.
In the function, the APECF and Tai Tung Communication Co. Ltd signed an agreement to work in collaboration for the telecommunication development.
The APECF has estimated 3 billion US dolor for the execution of the project within nine years. It expects to complete the initial phase in five years.
However, the government of Nepal is yet to approve the project.
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