Kathmandu. Based on the directive of the Government of Nepal, the Nepal Insurance Authority (NEA) has also decided to shut down the insurance companies for two days a week.
Issuing a notice to all insurance companies, the Nepal Insurance Authority (NEA) has directed the insurance companies to open their offices from 9:00 am to 5:00 pm as per the decision of the Council of Ministers.
Similarly, Nepal Rastra Bank (NRB) has decided the office hours for banks and financial institutions (BFIs) from 9:00 am to 5:00 pm every day. Nepal Rastra Bank (NRB) has directed the banks and financial institutions (BFIs) to close their banking counters on Saturday and Sunday.
Iran has blocked the Strait of Hormuz, which imports oil from the Gulf nation, in retaliation for attacks by Israel and the United States. It has also had a direct impact in Nepal. The price of petroleum products has increased by up to Rs 40 per liter in less than a month due to disruption in the supply chain. Aviation fuel has become more expensive.
The government has decided to close the government offices and educational institutions on Sunday in a bid to reduce fuel consumption.
