December 11: With the onset of dry season, Nepal Electricity Authority (NEA) has started importing electricity from…
December 11: With the onset of dry season, Nepal Electricity Authority (NEA) has started importing electricity from…
December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about 80 percent stakes in Ncell Axiata…
December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday.…
December 11: It has been revealed that the Karnali Province government has made very little investment for children in the…
December 11: The government has started a comprehensive study to excavate iron mines in Rukum…
A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on…
Global IME Bank Limited has brought four new branches into operation…
The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week,…
December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy…
December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned…
December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive…
December 10: Agricultural Census 2078 has shown that the share of women who own agricultural land in Nepal is 34.4…
December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower…
December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis.…
Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16,…
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The flow of water in the rivers and streams has decreased due to the onset of winter and the production of the power plants in the country has started to decrease. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As the demand for electricity has increased in the domestic market, the NEA has started importing electricity import from the Indian market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA had been selling surplus electricity to India during the monsoon. The authority said that electricity export has already been stopped from Friday night.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Kulman Ghising, executive director of the authority, said that the maximum demand for electricity on a daily basis is around 1,700 megawatts, and since domestic production alone is not enough to meet it, a small amount of electricity has been imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Currently, electricity generation and demand are almost equal, we are collecting water in our semi-reservoir power plants during the day and night time and running them during the peak hours in the evening and morning to meet the electricity demand," said Executive Director Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA exported electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => 'Nepal, India, electricity, import, export, surplus, dry, season, river, water, decline, demand, market, peak, hour', 'description' => '', 'sortorder' => '19429', 'image' => '20231211013200_20231208030316_elec.jpg', 'article_date' => '2023-12-11 13:31:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19702', 'article_category_id' => '1', 'title' => 'Ncell Employees Trade Union says Rumors about Sale of the Company’s Shares are Baseless', 'sub_title' => '', 'summary' => 'December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about 80 percent stakes in Ncell Axiata Limited.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent stakes in Ncell Axiata Limited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The union said in a statement that it is a normal process to buy and sell shares of the company and since Ncell is a multinational company, it is natural to do business according to national and international practices. The statement further mentions that the process of purchase and sale of shares did not make any difference in the company's daily performance and service operations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Referring to the fact that Ncell has been paying taxes regularly, the statement added that the company has so far paid more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">283</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in taxes to the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The company has made significant contributions in various fields under corporate social responsibility and has extended the network to the far reaches of the country and provided telecommunication services to more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million people," reads the statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the union, Ncell has directly and indirectly created more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">jobs. The union alleges that the unfounded accusation is motivated by the desire to influence the investigation report at a time when the government has formed an investigation committee to find the truth behild the process of the purchase and sale of shares of Ncell Axiata.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19428', 'image' => '20231211032452_ncell.jpg', 'article_date' => '2023-12-11 15:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19699', 'article_category_id' => '1', 'title' => 'Buddha Air adds another Aircraft to its Fleet', 'sub_title' => '', 'summary' => 'December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. The aircraft made its first flight from Kathmandu to Tumlingtar with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air had brought the aircraft to Kathmandu on October </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After bringing the plane, it was painted and all the necessary procedures were completed before Buddha Air started commercial flights from Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the addition of the new aircraft with call sign </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">N-AOC, Buddha Air now has a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft in its fleet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air said it added the new aircraft in line with its commitment to make air travel easy and comfortable to its customers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Rupesh Joshi, marketing director of Buddha Air, passengers will get easy access to flights as the company has increased the number of flights significantly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air has three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42-320 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72-500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19427', 'image' => '20231211122755_1702208049.budhha air.jpg', 'article_date' => '2023-12-11 12:27:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19698', 'article_category_id' => '1', 'title' => 'Investment in Children’s Sector Low in Karnali Province', 'sub_title' => 'Provincial Government Invests One Percent Budget for Children, School Infrastructure Development', 'summary' => 'December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Only one percent budget has been appropriated for the children sector in Karnali Province, a study undertaken by the Collective Campaign for Child Rights Karnali revealed. An analysis of the budget appropriated by the Karnali Province government in three fiscal years, from 2021/22 to 2023/24, revealed that only minimal budget has been allocated for this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of a total annual budget of Rs 28.47 billion for the fiscal year 2021/22, over Rs 149 million (1.28 percent) was allocated for children. Likewise, only 0.86 percent budget was appropriated for children in the fiscal year 2022/23. Similarly, 1.07 percent budget has been allocated for children in the fiscal year 2023/24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CCR Karnali Chair Tekraj Acharya shared that the Karnali province government has allocated over Rs 355.8 million for the children’s sector this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that four areas of child rights were studied in the budget analysis. Budget allocated for the development of school infrastructure was also considered as budget for the children’s sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have urged all three tiers of the governments to increase investment in the children’s sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19426', 'image' => '20231211115038_children.jpg', 'article_date' => '2023-12-11 11:49:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19697', 'article_category_id' => '1', 'title' => 'Study on Iron Mines Excavation Gains Pace in Rukum East ', 'sub_title' => '', 'summary' => 'December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). A feasibility study has been initiated for excavation since last week after detection of iron mine in Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team consisting of geologists of the Department of Mines and Geology Sujan Devkota and Saunak Bhandari started carrying out feasibility study in Bhume Rural Municipality-3, Jhumlabang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past, the task of comprehensive study did not gain momentum due to financial reason. Bhume Rural Municipality’s Chairperson Hom Prakash Shrestha said that fresh studies on iron mines have been started in several places of the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals also informed that iron mine excavations are taking place in the areas where iron mines were detected earlier. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19425', 'image' => '20231211110802_iron.jpg', 'article_date' => '2023-12-11 11:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19696', 'article_category_id' => '1', 'title' => 'High-level Committee Begins Probe into Ncell's Share Rale row', 'sub_title' => '', 'summary' => 'A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Tankamani Sharma, the coordinator of the five-member committee, said that they had initiated the investigation in accordance with the government's mandate, aiming to conclude the inquiry within a specified timeline and present a comprehensive report with recommendations.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Coordinator Sharma outlined the committee's approach, stating that they plan to engage in discussions with relevant regulatory bodies, government officials, and service provider companies during the investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee will actively gather essential documents and information from individuals and organizations involved, seeking input and suggestions from experts, stakeholders, organizations, and the general public.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee has called for cooperation from all parties involved, urging them to provide factual information and any evidence pertinent to the issue under investigation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The secretariat of the probe is located at the Ministry of Communications and Information Technology. The committee is required to present its findings within 30 days of its formation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It is worth noting that the government established the committee on December 7 to delve into matters related to Ncell's share and purchase, assess its compliance with existing laws, and analyze its impact on revenue collection and foreign investment in Nepal, among other aspects. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19424', 'image' => '20231211060023_collage (6).jpg', 'article_date' => '2023-12-11 05:58:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '19695', 'article_category_id' => '1', 'title' => 'Global IME Bank Operates Four New Branches Simultaneously', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has brought four new branches into operation simultaneously.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Global IME Bank Limited has brought four new branches into operation simultaneously. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has inaugurated new branches in Budhanilkantha Municipality-5, Budhanilkantha, Chandragiri Municipality-13, Dahachok, Bharatpur Metropolitan City-8 in Chitwan, Sharadpur, and Abu Khaireni Rural Municipality-3 in Tanahun.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Starting from Sunday, all banking services will be available at these new branches. Global IME Bank stands out as the first private sector bank with a branch network in all seventy-seven districts across the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank, with 355 branches, 376 ATMs, 274 branchless banking services, 65 extensions, revenue collection counters, and three foreign representative offices, has been serving more than 4.6 million customers through over 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the bank has been playing a significant role in the country's economy by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, India, Jordan, and Hong Kong.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19423', 'image' => '20231210054554_collage (6).jpg', 'article_date' => '2023-12-10 17:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19694', 'article_category_id' => '1', 'title' => 'NEPSE Trading Halted as Index Surges 6% in Early Market Rally', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This sudden upswing in the NEPSE triggered multiple trading halts throughout the day, leading to the early closure of the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first pause occurred after just 5 minutes of trading, following a 4% rise in the index. This initial halt lasted for 20 minutes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When trading resumed at 11:25 AM, the market experienced another pause just two minutes later, lasting 40 minutes, as the index climbed by 5%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The final resumption at 12:07 PM saw a rapid 6% positive circuit within two minutes, resulting in the ultimate closure of the market for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, a total of 244 scrips were traded through 7,014 transactions, with 1,367,615 shares changing hands, amounting to Rs 48 crores in value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Five companies—Reliance Finance Limited (RLFL), Joshi Hydropower Development Limited (JOSHI), Rapti Hydro And General Construction Limited (RHGCL), Shuvam Power Limited (SPL), and Kalinchowk Darshan Limited (KDL)—each experienced a 10% rise, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mountain Energy Nepal (MEN) led in turnover with Rs 3.58 crores, while NMB Sulav Investment Fund-2 (NSIF2) incurred the highest loss at 1.97%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the green zone. The HydroPower Index saw the most significant gain at 8.63%, while the Mutual Fund Index had the smallest increase at 0.21%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19422', 'image' => '20231210035429_collage (5).jpg', 'article_date' => '2023-12-10 15:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19692', 'article_category_id' => '1', 'title' => 'NRB Makes Effort to Revitalize the Economy by Reducing Interest Rates', 'sub_title' => '', 'summary' => 'December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant. Nepal Rastra Bank has become flexible towards the monetary policy through the first quarter review after analyzing that the indicators of the external sector have eased in the economy due to the tight policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the central bank, it adopted flexibility in the policy arrangements in view of the improvement in domestic economic situation along with the increase in foreign exchange reserves. Moreover, there was pressure from all sides to become flexible because of the increasing problems in the economy due to strict policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Friday, while unveiling the first quarterly review of the monetary policy of the current fiscal year, the central bank indicated that it is going to reduce the interest rate by reducing the interest rate corridor. Likewise, the provisions related to the existing risk weight of share mortgage, real estate and hire purchase loans have been reviewed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The installment of housing loan has also revised. In order to provide relief to the businessmen who are in trouble due to the decline in economic activities, arrangements have been made to restructure loans and provide housing loans at subsidized interest rates in earthquake-affected areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB Governor Maha Prasad Adhikari said in a press conference on Friday that the policy rates have been reviewed to increase credit investment. "Although the liquidity situation has eased recently, banks have not been able to increase credit flow," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Governor Adhikari claimed that if the central bank’s decision to reduce the policy rates will decrease the interest rate and the credit flow will increase and this will revive the sluggish economy. "The big countries of the world still have a tight monetary policy," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Efforts to reduce interest rates</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank has tried to reduce the interest rate by reviewing the monetary policy. In the policy, the bank rate has been reduced from 7.5 percent to 7 percent, the policy rate has been reduced from 6.5 percent to 5.5 percent and the deposit collection rate has been reduced from 4.5 percent to 3 percent. However, the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR) have been kept unchanged. Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank has said that if the policy and bank rates decrease, the cost of liquidity management of the banks will be reduced and the interest rate will also be cheaper.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the period during which bonds can be counted as deposits has also been extended to raise funds for lending to the banks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Relief to distressed debtors</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB announced that relief will be given to the borrowers of banks and financial institutions who are in trouble due to the review of monetary policy. It is mentioned in the review that the central bank will facilitate the borrowers who are in trouble due to circumstances through means such as loan restructuring and rescheduling while action will be taken against those who do not pay loan on purpose.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Based on the analysis of the applications received from the borrowers who are in trouble, it has been announced that the period in which the banks can restructure the loan by charging 10 percent of the outstanding interest will be maintained until mid-April.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, the period for loan restructuring and rescheduling was until the mid-December.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it is mentioned in the review that if the borrowers who are in regular contact with the microfinance financial institution but are unable to regularize their loan payments due to situational problems, they will be able to restructure the loans of such borrowers if they submit an application for loan restructuring within the next three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Address to earthquake victims</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal Rastra Bank has announced that it will provide loans at subsidized interest rates for the reconstruction of residential houses damaged due to the November 3 earthquake in western Nepal. In the review of monetary policy, it is mentioned that when banks and financial institutions give residential home loans of up to Rs 2.5 million to the families listed as earthquake victims, there will be no additional premium of more than 2 percentage points on the base rate. Similarly, it has been announced in the review that for the reconstruction of public schools, public hospitals and health posts damaged due to the earthquake, banks can contribute up to 40 percent of the amount to be spent separately to the social responsibility fund from the profits of the previous and current years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Flexible in real estate loans</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Through the revised monetary policy, the NRB has decided to reduce the risk weight of real estate loans and maintain the risk weight for share mortgage loans exceeding Rs 50 million at 125 percent. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19421', 'image' => '20231210025922_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-10 14:58:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19691', 'article_category_id' => '1', 'title' => 'Experts Recommend 'Controlled Legalization' of Marijuana', 'sub_title' => '', 'summary' => 'December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Policy Research Institute in collaboration with Nepal Health Research Council conducted a study on 'Legalization of Marijuana Cultivation in Nepal: Possibilities and Challenges' and made this recommendation to the government saying that many countries of the world have adopted this policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A team of experts including Dr Manita Kusi, Dr Hari Sharma Neupane, Dr Mukunda Raj Kattel, Advocate Hari Prasad Mainali, Prof Rajendra Gyawali, Dr Prerak Regmi, Pushkar Basyal and others researched and prepared the report for the institute. The report has recommended the government to amend the current laws of the Narcotic Drug Control Act, 2033. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts recommended developing regulatios, method and structure for the use and trade of marijuana. Although the full legalization of marijuana is not possible at the moment, researchers have indicated in the report that 'controlled legalization' can be followed as other countries have adopted.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report concluded that it is important to be aware of the "harmful effects" of marijuana products. It is essential to create necessary regulations for its monitoring and to prepare specific methods, structures and human resources to address the social ills caused by its use such as addiction, social violence, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, clarity should be maintained about the controlled use of marijuana in the current Narcotic Drugs Control Act. In addition, the study shows that the ambiguity regarding the use of marijuana can be removed if the relevant government agencies create clear regulations and implement them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts have recommended defining marijuana based on its use. The current definition of the Narcotics Drug Control Act makes all varieties of marijuana illegal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this law, as the cultivation and business of marijuana species with less than 0.3 percent tetra-hydro-cannabinol (THC)</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, whose medicinal and recreational effects are considered insignificant and used for industrial production, is also considered illegal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study says that this definition resulted in the closure of industries that processed marijuana.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is necessary to define marijuana based on the compounds found in marijuana to prevent such a situation in the future. The report suggests that marijuana species with less than 0.3% THC should be allowed for cultivation and business under the name of 'Industrial Cannabis' and those with more than 0.3% THC should be allowed for research and medicinal use with proper regulation according to the principle of 'controlled use'. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the study report, it is recommended to conduct a scientific study about the medicinal aspects of marijuana. Stating that there is not much research on the medicinal properties of cannabis in Nepal, it is also said that the current knowledge based on traditional/Ayurvedic practice is not scientifically agreed upon. It is mentioned in the report that it is necessary to determine the amount of chemical elements found in which type of cannabis and the necessary infrastructure for production of modern laboratory, skilled manpower and quality control, keeping in mind the possibility that Nepali cannabis can be established in the world market as an integral part of pharmaceutical science. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report suggests promoting scientific hemp cultivation for industrial purposes. According to the study, there is a lack of scientific knowledge about which type of cannabis cultivation is suitable in which climate of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to fill this gap, it is recommended to carry out necessary studies and research to promote the cultivation of cannabis suitable for the geographical environment and climate, and to orient and train the farmers accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study report also suggested promoting evidence-based Ayurvedic medicine. According to the study, there is a long tradition of making cannabis-mixed medicine in the Ayurvedic medical system. Such medicines are used in the treatment of many diseases including indigestion, rheumatism, problems caused by contaminated food (food poisoning). However, there is a lack of reliable (scientific) knowledge about the long-term effects of these and other Ayurvedic medicines, due to which the expected promotion of the Ayurvedic system of medicine, which has a long history and tradition, has not been possible. In order to solve this problem, testing the medicinal properties of cannabis and other plants used in the manufacture of Ayurvedic medicine, identifying the diseases that can be diagnosed and treating them through scientific methods and developing human resources to promote evidence-based Ayurvedic medicine can contribute to human health, the research pointed out.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of Prohibition in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 1961, the United Nations adopted a convention with the proposal that marijuana be listed as a narcotic drug and its production and use should be restricted worldwide. As a member of the United Nations, the government of Nepal banned the cultivation, use and trade of cannabis in Nepal through a declaration in 2030 BS. Three years later, in the year 2033, the government formulated law necessary to implement the declaration. The Narcotic Drugs Control Act, 2033, was amended at various times based on the experience and practice of developed countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although a bill regarding the legalization of marijuana has been registered in the Parliament of Nepal, it has not been able to move forward. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19420', 'image' => '20231210023326_20221030030309_20201204014433_1607039093.Clipboard09.jpg', 'article_date' => '2023-12-10 14:32:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19690', 'article_category_id' => '1', 'title' => 'Revenue Policy Affecting Business in Border Areas', 'sub_title' => '', 'summary' => 'December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season. Deepak Sarraf, a businessman from Maisthanchowk, was expecting that his business would increase during festivals like Dashain, Tihar and Chhath. However, he was disappointed as customers did not come to his shop as expected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders who were worried due to lack of business amid economic recession were hopeful that they would get some relief during the festive season. However, traders like Sarraf are worried what to do next as their business did not go well even during the major festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While the businessmen of Birgunj spend the day waiting for customers in vain, the Indian city of Raxaul across the border is crowded with Nepali customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rajendra Gupta, a businessman in the area said, “During the festival, it is difficult to even set foot in Raxaul due to the crowd of Nepali customers. At other times as well, majority of customers shopping across border are from Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the year 2007, the government introduced a rule requiring importers to pay customs duty on goods worth more than Rs 100. However, this rule is yet to be implemented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Customers from Birgunj shopping across the border in the Indian market is not the only problem. Another major problem is the flourishing business of illegally smuggled goods into Nepal as the goods are easily available across the border.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders claim that the smuggled goods, which are imported by evading customs duty, reach the main cities of the country including Kathmandu. The government has deployed customs officials, security forces and revenue investigation agencies at the border to control illegal imports. However, smuggling of goods continues unabated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> Traders complain that smuggling has flourished due to the collusion of those agencies. A trader said, “The empire of illegal imports is becoming so strong that it has become a challenge for domestically-produced goods.” A study conducted by Nepal Rastra Bank a few years ago revealed that about 35 percent of the total imports from India is brought through informal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessman Gupta says that when goods are imported through illegal means, there is an adverse effect on trade, production and all aspects related to it in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> According to experts, Nepali customers are attracted to the Indian market because the goods are cheaper there after India's reforms in the tax system through the goods and services tax.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They claim that the problem of smuggling will not be controlled until the government improves the revenue system because this is also the cause of the illegal import that is happening institutionally. India imposes less tax on consumer goods and more on luxury goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI said, “When the prices of common consumable goods are low there, they are imported illegally. We have a high rate of revenue for the import of those goods. This has led to the problem of smuggling.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Temani claims that if the total revenue collected in Nepal's customs is made equal to the goods and services tax in India, this problem will be solved automatically. India does not levy GST on exports to Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19418', 'image' => '20231210015420_1702175870.jpg', 'article_date' => '2023-12-10 13:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19689', 'article_category_id' => '1', 'title' => '34.4 Percent of Women Own Agricultural Land in Nepal', 'sub_title' => '', 'summary' => 'December 10: Agricultural Census 2078 has shown that the share of women who own agricultural land in Nepal is 34.4 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has shown that the share of women who own agricultural land in Nepal is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. This is the first study in Nepal about women's ownership of agricultural land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The National Statistics Office announced the results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> regarding indicators of sustainable development goals and published data on women's ownership of agricultural land. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data, women in Gandaki Province own most of the agricultural land, while Karnali Province has the least amount of women’s ownership. The share of women having agricultural land in their name is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Gandaki Province and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Karnali.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of the NSO, Badri Kumar Karki, said that Gandaki Province announced large amount of tax exemption while keeping agricultural land in name of women and therefore more women in the province have ownership of agricultural. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">shows that the percentage of adult agricultural population (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years and above) who have secured ownership of agricultural land is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.4. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the state wise data, this percentage is the highest in Gandaki at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the lowest in Karnali at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">From the point of view of gender analysis, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total adult males involved in farming families have secure ownership of agricultural land. In case of women, this percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Province-wise, the percentage of adult males is the highest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Bagmati Province and the lowest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the case of adult women having ownership of agricultural land, it has been found that the highest percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Gandaki Province and the lowest is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In Nepal, out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households involved in agricultural work, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households are headed by women.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agricultural land has an important contribution to the livelihood in Nepal. Therefore, the ownership of agricultural land can make a significant contribution to the overall upliftment of the agricultural population as well as women's empowerment in particular. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The data shows that a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">349</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are involved in agriculture in Nepal</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">412 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">women and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">936 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">men.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19417', 'image' => '20231210124135_1702174003.1 omen.jpg', 'article_date' => '2023-12-10 12:40:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The flow of water in the rivers and streams has decreased due to the onset of winter and the production of the power plants in the country has started to decrease. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As the demand for electricity has increased in the domestic market, the NEA has started importing electricity import from the Indian market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA had been selling surplus electricity to India during the monsoon. The authority said that electricity export has already been stopped from Friday night.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Kulman Ghising, executive director of the authority, said that the maximum demand for electricity on a daily basis is around 1,700 megawatts, and since domestic production alone is not enough to meet it, a small amount of electricity has been imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Currently, electricity generation and demand are almost equal, we are collecting water in our semi-reservoir power plants during the day and night time and running them during the peak hours in the evening and morning to meet the electricity demand," said Executive Director Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA exported electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => 'Nepal, India, electricity, import, export, surplus, dry, season, river, water, decline, demand, market, peak, hour', 'description' => '', 'sortorder' => '19429', 'image' => '20231211013200_20231208030316_elec.jpg', 'article_date' => '2023-12-11 13:31:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19702', 'article_category_id' => '1', 'title' => 'Ncell Employees Trade Union says Rumors about Sale of the Company’s Shares are Baseless', 'sub_title' => '', 'summary' => 'December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about 80 percent stakes in Ncell Axiata Limited.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent stakes in Ncell Axiata Limited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The union said in a statement that it is a normal process to buy and sell shares of the company and since Ncell is a multinational company, it is natural to do business according to national and international practices. The statement further mentions that the process of purchase and sale of shares did not make any difference in the company's daily performance and service operations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Referring to the fact that Ncell has been paying taxes regularly, the statement added that the company has so far paid more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">283</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in taxes to the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The company has made significant contributions in various fields under corporate social responsibility and has extended the network to the far reaches of the country and provided telecommunication services to more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million people," reads the statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the union, Ncell has directly and indirectly created more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">jobs. The union alleges that the unfounded accusation is motivated by the desire to influence the investigation report at a time when the government has formed an investigation committee to find the truth behild the process of the purchase and sale of shares of Ncell Axiata.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19428', 'image' => '20231211032452_ncell.jpg', 'article_date' => '2023-12-11 15:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19699', 'article_category_id' => '1', 'title' => 'Buddha Air adds another Aircraft to its Fleet', 'sub_title' => '', 'summary' => 'December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. The aircraft made its first flight from Kathmandu to Tumlingtar with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air had brought the aircraft to Kathmandu on October </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After bringing the plane, it was painted and all the necessary procedures were completed before Buddha Air started commercial flights from Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the addition of the new aircraft with call sign </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">N-AOC, Buddha Air now has a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft in its fleet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air said it added the new aircraft in line with its commitment to make air travel easy and comfortable to its customers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Rupesh Joshi, marketing director of Buddha Air, passengers will get easy access to flights as the company has increased the number of flights significantly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air has three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42-320 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72-500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19427', 'image' => '20231211122755_1702208049.budhha air.jpg', 'article_date' => '2023-12-11 12:27:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19698', 'article_category_id' => '1', 'title' => 'Investment in Children’s Sector Low in Karnali Province', 'sub_title' => 'Provincial Government Invests One Percent Budget for Children, School Infrastructure Development', 'summary' => 'December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Only one percent budget has been appropriated for the children sector in Karnali Province, a study undertaken by the Collective Campaign for Child Rights Karnali revealed. An analysis of the budget appropriated by the Karnali Province government in three fiscal years, from 2021/22 to 2023/24, revealed that only minimal budget has been allocated for this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of a total annual budget of Rs 28.47 billion for the fiscal year 2021/22, over Rs 149 million (1.28 percent) was allocated for children. Likewise, only 0.86 percent budget was appropriated for children in the fiscal year 2022/23. Similarly, 1.07 percent budget has been allocated for children in the fiscal year 2023/24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CCR Karnali Chair Tekraj Acharya shared that the Karnali province government has allocated over Rs 355.8 million for the children’s sector this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that four areas of child rights were studied in the budget analysis. Budget allocated for the development of school infrastructure was also considered as budget for the children’s sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have urged all three tiers of the governments to increase investment in the children’s sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19426', 'image' => '20231211115038_children.jpg', 'article_date' => '2023-12-11 11:49:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19697', 'article_category_id' => '1', 'title' => 'Study on Iron Mines Excavation Gains Pace in Rukum East ', 'sub_title' => '', 'summary' => 'December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). A feasibility study has been initiated for excavation since last week after detection of iron mine in Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team consisting of geologists of the Department of Mines and Geology Sujan Devkota and Saunak Bhandari started carrying out feasibility study in Bhume Rural Municipality-3, Jhumlabang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past, the task of comprehensive study did not gain momentum due to financial reason. Bhume Rural Municipality’s Chairperson Hom Prakash Shrestha said that fresh studies on iron mines have been started in several places of the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals also informed that iron mine excavations are taking place in the areas where iron mines were detected earlier. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19425', 'image' => '20231211110802_iron.jpg', 'article_date' => '2023-12-11 11:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19696', 'article_category_id' => '1', 'title' => 'High-level Committee Begins Probe into Ncell's Share Rale row', 'sub_title' => '', 'summary' => 'A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Tankamani Sharma, the coordinator of the five-member committee, said that they had initiated the investigation in accordance with the government's mandate, aiming to conclude the inquiry within a specified timeline and present a comprehensive report with recommendations.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Coordinator Sharma outlined the committee's approach, stating that they plan to engage in discussions with relevant regulatory bodies, government officials, and service provider companies during the investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee will actively gather essential documents and information from individuals and organizations involved, seeking input and suggestions from experts, stakeholders, organizations, and the general public.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee has called for cooperation from all parties involved, urging them to provide factual information and any evidence pertinent to the issue under investigation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The secretariat of the probe is located at the Ministry of Communications and Information Technology. The committee is required to present its findings within 30 days of its formation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It is worth noting that the government established the committee on December 7 to delve into matters related to Ncell's share and purchase, assess its compliance with existing laws, and analyze its impact on revenue collection and foreign investment in Nepal, among other aspects. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19424', 'image' => '20231211060023_collage (6).jpg', 'article_date' => '2023-12-11 05:58:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '19695', 'article_category_id' => '1', 'title' => 'Global IME Bank Operates Four New Branches Simultaneously', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has brought four new branches into operation simultaneously.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Global IME Bank Limited has brought four new branches into operation simultaneously. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has inaugurated new branches in Budhanilkantha Municipality-5, Budhanilkantha, Chandragiri Municipality-13, Dahachok, Bharatpur Metropolitan City-8 in Chitwan, Sharadpur, and Abu Khaireni Rural Municipality-3 in Tanahun.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Starting from Sunday, all banking services will be available at these new branches. Global IME Bank stands out as the first private sector bank with a branch network in all seventy-seven districts across the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank, with 355 branches, 376 ATMs, 274 branchless banking services, 65 extensions, revenue collection counters, and three foreign representative offices, has been serving more than 4.6 million customers through over 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the bank has been playing a significant role in the country's economy by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, India, Jordan, and Hong Kong.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19423', 'image' => '20231210054554_collage (6).jpg', 'article_date' => '2023-12-10 17:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19694', 'article_category_id' => '1', 'title' => 'NEPSE Trading Halted as Index Surges 6% in Early Market Rally', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This sudden upswing in the NEPSE triggered multiple trading halts throughout the day, leading to the early closure of the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first pause occurred after just 5 minutes of trading, following a 4% rise in the index. This initial halt lasted for 20 minutes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When trading resumed at 11:25 AM, the market experienced another pause just two minutes later, lasting 40 minutes, as the index climbed by 5%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The final resumption at 12:07 PM saw a rapid 6% positive circuit within two minutes, resulting in the ultimate closure of the market for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, a total of 244 scrips were traded through 7,014 transactions, with 1,367,615 shares changing hands, amounting to Rs 48 crores in value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Five companies—Reliance Finance Limited (RLFL), Joshi Hydropower Development Limited (JOSHI), Rapti Hydro And General Construction Limited (RHGCL), Shuvam Power Limited (SPL), and Kalinchowk Darshan Limited (KDL)—each experienced a 10% rise, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mountain Energy Nepal (MEN) led in turnover with Rs 3.58 crores, while NMB Sulav Investment Fund-2 (NSIF2) incurred the highest loss at 1.97%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the green zone. The HydroPower Index saw the most significant gain at 8.63%, while the Mutual Fund Index had the smallest increase at 0.21%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19422', 'image' => '20231210035429_collage (5).jpg', 'article_date' => '2023-12-10 15:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19692', 'article_category_id' => '1', 'title' => 'NRB Makes Effort to Revitalize the Economy by Reducing Interest Rates', 'sub_title' => '', 'summary' => 'December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant. Nepal Rastra Bank has become flexible towards the monetary policy through the first quarter review after analyzing that the indicators of the external sector have eased in the economy due to the tight policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the central bank, it adopted flexibility in the policy arrangements in view of the improvement in domestic economic situation along with the increase in foreign exchange reserves. Moreover, there was pressure from all sides to become flexible because of the increasing problems in the economy due to strict policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Friday, while unveiling the first quarterly review of the monetary policy of the current fiscal year, the central bank indicated that it is going to reduce the interest rate by reducing the interest rate corridor. Likewise, the provisions related to the existing risk weight of share mortgage, real estate and hire purchase loans have been reviewed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The installment of housing loan has also revised. In order to provide relief to the businessmen who are in trouble due to the decline in economic activities, arrangements have been made to restructure loans and provide housing loans at subsidized interest rates in earthquake-affected areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB Governor Maha Prasad Adhikari said in a press conference on Friday that the policy rates have been reviewed to increase credit investment. "Although the liquidity situation has eased recently, banks have not been able to increase credit flow," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Governor Adhikari claimed that if the central bank’s decision to reduce the policy rates will decrease the interest rate and the credit flow will increase and this will revive the sluggish economy. "The big countries of the world still have a tight monetary policy," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Efforts to reduce interest rates</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank has tried to reduce the interest rate by reviewing the monetary policy. In the policy, the bank rate has been reduced from 7.5 percent to 7 percent, the policy rate has been reduced from 6.5 percent to 5.5 percent and the deposit collection rate has been reduced from 4.5 percent to 3 percent. However, the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR) have been kept unchanged. Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank has said that if the policy and bank rates decrease, the cost of liquidity management of the banks will be reduced and the interest rate will also be cheaper.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the period during which bonds can be counted as deposits has also been extended to raise funds for lending to the banks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Relief to distressed debtors</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB announced that relief will be given to the borrowers of banks and financial institutions who are in trouble due to the review of monetary policy. It is mentioned in the review that the central bank will facilitate the borrowers who are in trouble due to circumstances through means such as loan restructuring and rescheduling while action will be taken against those who do not pay loan on purpose.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Based on the analysis of the applications received from the borrowers who are in trouble, it has been announced that the period in which the banks can restructure the loan by charging 10 percent of the outstanding interest will be maintained until mid-April.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, the period for loan restructuring and rescheduling was until the mid-December.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it is mentioned in the review that if the borrowers who are in regular contact with the microfinance financial institution but are unable to regularize their loan payments due to situational problems, they will be able to restructure the loans of such borrowers if they submit an application for loan restructuring within the next three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Address to earthquake victims</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal Rastra Bank has announced that it will provide loans at subsidized interest rates for the reconstruction of residential houses damaged due to the November 3 earthquake in western Nepal. In the review of monetary policy, it is mentioned that when banks and financial institutions give residential home loans of up to Rs 2.5 million to the families listed as earthquake victims, there will be no additional premium of more than 2 percentage points on the base rate. Similarly, it has been announced in the review that for the reconstruction of public schools, public hospitals and health posts damaged due to the earthquake, banks can contribute up to 40 percent of the amount to be spent separately to the social responsibility fund from the profits of the previous and current years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Flexible in real estate loans</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Through the revised monetary policy, the NRB has decided to reduce the risk weight of real estate loans and maintain the risk weight for share mortgage loans exceeding Rs 50 million at 125 percent. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19421', 'image' => '20231210025922_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-10 14:58:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19691', 'article_category_id' => '1', 'title' => 'Experts Recommend 'Controlled Legalization' of Marijuana', 'sub_title' => '', 'summary' => 'December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Policy Research Institute in collaboration with Nepal Health Research Council conducted a study on 'Legalization of Marijuana Cultivation in Nepal: Possibilities and Challenges' and made this recommendation to the government saying that many countries of the world have adopted this policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A team of experts including Dr Manita Kusi, Dr Hari Sharma Neupane, Dr Mukunda Raj Kattel, Advocate Hari Prasad Mainali, Prof Rajendra Gyawali, Dr Prerak Regmi, Pushkar Basyal and others researched and prepared the report for the institute. The report has recommended the government to amend the current laws of the Narcotic Drug Control Act, 2033. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts recommended developing regulatios, method and structure for the use and trade of marijuana. Although the full legalization of marijuana is not possible at the moment, researchers have indicated in the report that 'controlled legalization' can be followed as other countries have adopted.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report concluded that it is important to be aware of the "harmful effects" of marijuana products. It is essential to create necessary regulations for its monitoring and to prepare specific methods, structures and human resources to address the social ills caused by its use such as addiction, social violence, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, clarity should be maintained about the controlled use of marijuana in the current Narcotic Drugs Control Act. In addition, the study shows that the ambiguity regarding the use of marijuana can be removed if the relevant government agencies create clear regulations and implement them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts have recommended defining marijuana based on its use. The current definition of the Narcotics Drug Control Act makes all varieties of marijuana illegal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this law, as the cultivation and business of marijuana species with less than 0.3 percent tetra-hydro-cannabinol (THC)</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, whose medicinal and recreational effects are considered insignificant and used for industrial production, is also considered illegal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study says that this definition resulted in the closure of industries that processed marijuana.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is necessary to define marijuana based on the compounds found in marijuana to prevent such a situation in the future. The report suggests that marijuana species with less than 0.3% THC should be allowed for cultivation and business under the name of 'Industrial Cannabis' and those with more than 0.3% THC should be allowed for research and medicinal use with proper regulation according to the principle of 'controlled use'. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the study report, it is recommended to conduct a scientific study about the medicinal aspects of marijuana. Stating that there is not much research on the medicinal properties of cannabis in Nepal, it is also said that the current knowledge based on traditional/Ayurvedic practice is not scientifically agreed upon. It is mentioned in the report that it is necessary to determine the amount of chemical elements found in which type of cannabis and the necessary infrastructure for production of modern laboratory, skilled manpower and quality control, keeping in mind the possibility that Nepali cannabis can be established in the world market as an integral part of pharmaceutical science. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report suggests promoting scientific hemp cultivation for industrial purposes. According to the study, there is a lack of scientific knowledge about which type of cannabis cultivation is suitable in which climate of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to fill this gap, it is recommended to carry out necessary studies and research to promote the cultivation of cannabis suitable for the geographical environment and climate, and to orient and train the farmers accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study report also suggested promoting evidence-based Ayurvedic medicine. According to the study, there is a long tradition of making cannabis-mixed medicine in the Ayurvedic medical system. Such medicines are used in the treatment of many diseases including indigestion, rheumatism, problems caused by contaminated food (food poisoning). However, there is a lack of reliable (scientific) knowledge about the long-term effects of these and other Ayurvedic medicines, due to which the expected promotion of the Ayurvedic system of medicine, which has a long history and tradition, has not been possible. In order to solve this problem, testing the medicinal properties of cannabis and other plants used in the manufacture of Ayurvedic medicine, identifying the diseases that can be diagnosed and treating them through scientific methods and developing human resources to promote evidence-based Ayurvedic medicine can contribute to human health, the research pointed out.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of Prohibition in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 1961, the United Nations adopted a convention with the proposal that marijuana be listed as a narcotic drug and its production and use should be restricted worldwide. As a member of the United Nations, the government of Nepal banned the cultivation, use and trade of cannabis in Nepal through a declaration in 2030 BS. Three years later, in the year 2033, the government formulated law necessary to implement the declaration. The Narcotic Drugs Control Act, 2033, was amended at various times based on the experience and practice of developed countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although a bill regarding the legalization of marijuana has been registered in the Parliament of Nepal, it has not been able to move forward. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19420', 'image' => '20231210023326_20221030030309_20201204014433_1607039093.Clipboard09.jpg', 'article_date' => '2023-12-10 14:32:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19690', 'article_category_id' => '1', 'title' => 'Revenue Policy Affecting Business in Border Areas', 'sub_title' => '', 'summary' => 'December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season. Deepak Sarraf, a businessman from Maisthanchowk, was expecting that his business would increase during festivals like Dashain, Tihar and Chhath. However, he was disappointed as customers did not come to his shop as expected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders who were worried due to lack of business amid economic recession were hopeful that they would get some relief during the festive season. However, traders like Sarraf are worried what to do next as their business did not go well even during the major festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While the businessmen of Birgunj spend the day waiting for customers in vain, the Indian city of Raxaul across the border is crowded with Nepali customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rajendra Gupta, a businessman in the area said, “During the festival, it is difficult to even set foot in Raxaul due to the crowd of Nepali customers. At other times as well, majority of customers shopping across border are from Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the year 2007, the government introduced a rule requiring importers to pay customs duty on goods worth more than Rs 100. However, this rule is yet to be implemented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Customers from Birgunj shopping across the border in the Indian market is not the only problem. Another major problem is the flourishing business of illegally smuggled goods into Nepal as the goods are easily available across the border.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders claim that the smuggled goods, which are imported by evading customs duty, reach the main cities of the country including Kathmandu. The government has deployed customs officials, security forces and revenue investigation agencies at the border to control illegal imports. However, smuggling of goods continues unabated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> Traders complain that smuggling has flourished due to the collusion of those agencies. A trader said, “The empire of illegal imports is becoming so strong that it has become a challenge for domestically-produced goods.” A study conducted by Nepal Rastra Bank a few years ago revealed that about 35 percent of the total imports from India is brought through informal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessman Gupta says that when goods are imported through illegal means, there is an adverse effect on trade, production and all aspects related to it in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> According to experts, Nepali customers are attracted to the Indian market because the goods are cheaper there after India's reforms in the tax system through the goods and services tax.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They claim that the problem of smuggling will not be controlled until the government improves the revenue system because this is also the cause of the illegal import that is happening institutionally. India imposes less tax on consumer goods and more on luxury goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI said, “When the prices of common consumable goods are low there, they are imported illegally. We have a high rate of revenue for the import of those goods. This has led to the problem of smuggling.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Temani claims that if the total revenue collected in Nepal's customs is made equal to the goods and services tax in India, this problem will be solved automatically. India does not levy GST on exports to Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19418', 'image' => '20231210015420_1702175870.jpg', 'article_date' => '2023-12-10 13:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19689', 'article_category_id' => '1', 'title' => '34.4 Percent of Women Own Agricultural Land in Nepal', 'sub_title' => '', 'summary' => 'December 10: Agricultural Census 2078 has shown that the share of women who own agricultural land in Nepal is 34.4 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has shown that the share of women who own agricultural land in Nepal is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. This is the first study in Nepal about women's ownership of agricultural land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The National Statistics Office announced the results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> regarding indicators of sustainable development goals and published data on women's ownership of agricultural land. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data, women in Gandaki Province own most of the agricultural land, while Karnali Province has the least amount of women’s ownership. The share of women having agricultural land in their name is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Gandaki Province and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Karnali.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of the NSO, Badri Kumar Karki, said that Gandaki Province announced large amount of tax exemption while keeping agricultural land in name of women and therefore more women in the province have ownership of agricultural. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">shows that the percentage of adult agricultural population (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years and above) who have secured ownership of agricultural land is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.4. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the state wise data, this percentage is the highest in Gandaki at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the lowest in Karnali at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">From the point of view of gender analysis, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total adult males involved in farming families have secure ownership of agricultural land. In case of women, this percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Province-wise, the percentage of adult males is the highest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Bagmati Province and the lowest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the case of adult women having ownership of agricultural land, it has been found that the highest percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Gandaki Province and the lowest is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In Nepal, out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households involved in agricultural work, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households are headed by women.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agricultural land has an important contribution to the livelihood in Nepal. Therefore, the ownership of agricultural land can make a significant contribution to the overall upliftment of the agricultural population as well as women's empowerment in particular. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The data shows that a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">349</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are involved in agriculture in Nepal</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">412 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">women and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">936 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">men.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19417', 'image' => '20231210124135_1702174003.1 omen.jpg', 'article_date' => '2023-12-10 12:40:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '19700', 'article_category_id' => '1', 'title' => 'NEA Starts Importing Electricity from India with the Onset of Dry Season', 'sub_title' => '', 'summary' => 'December 11: With the onset of dry season, Nepal Electricity Authority (NEA) has started importing electricity from India.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">December 11: With the onset of dry season, Nepal Electricity Authority (NEA) has started importing electricity from India. The flow of water in the rivers and streams has decreased due to the onset of winter and the production of the power plants in the country has started to decrease. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As the demand for electricity has increased in the domestic market, the NEA has started importing electricity import from the Indian market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA had been selling surplus electricity to India during the monsoon. The authority said that electricity export has already been stopped from Friday night.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Kulman Ghising, executive director of the authority, said that the maximum demand for electricity on a daily basis is around 1,700 megawatts, and since domestic production alone is not enough to meet it, a small amount of electricity has been imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Currently, electricity generation and demand are almost equal, we are collecting water in our semi-reservoir power plants during the day and night time and running them during the peak hours in the evening and morning to meet the electricity demand," said Executive Director Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA exported electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => 'Nepal, India, electricity, import, export, surplus, dry, season, river, water, decline, demand, market, peak, hour', 'description' => '', 'sortorder' => '19429', 'image' => '20231211013200_20231208030316_elec.jpg', 'article_date' => '2023-12-11 13:31:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19702', 'article_category_id' => '1', 'title' => 'Ncell Employees Trade Union says Rumors about Sale of the Company’s Shares are Baseless', 'sub_title' => '', 'summary' => 'December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about 80 percent stakes in Ncell Axiata Limited.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent stakes in Ncell Axiata Limited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The union said in a statement that it is a normal process to buy and sell shares of the company and since Ncell is a multinational company, it is natural to do business according to national and international practices. The statement further mentions that the process of purchase and sale of shares did not make any difference in the company's daily performance and service operations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Referring to the fact that Ncell has been paying taxes regularly, the statement added that the company has so far paid more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">283</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in taxes to the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The company has made significant contributions in various fields under corporate social responsibility and has extended the network to the far reaches of the country and provided telecommunication services to more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million people," reads the statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the union, Ncell has directly and indirectly created more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">jobs. The union alleges that the unfounded accusation is motivated by the desire to influence the investigation report at a time when the government has formed an investigation committee to find the truth behild the process of the purchase and sale of shares of Ncell Axiata.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19428', 'image' => '20231211032452_ncell.jpg', 'article_date' => '2023-12-11 15:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19699', 'article_category_id' => '1', 'title' => 'Buddha Air adds another Aircraft to its Fleet', 'sub_title' => '', 'summary' => 'December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. The aircraft made its first flight from Kathmandu to Tumlingtar with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air had brought the aircraft to Kathmandu on October </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After bringing the plane, it was painted and all the necessary procedures were completed before Buddha Air started commercial flights from Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the addition of the new aircraft with call sign </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">N-AOC, Buddha Air now has a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft in its fleet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air said it added the new aircraft in line with its commitment to make air travel easy and comfortable to its customers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Rupesh Joshi, marketing director of Buddha Air, passengers will get easy access to flights as the company has increased the number of flights significantly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air has three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42-320 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72-500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19427', 'image' => '20231211122755_1702208049.budhha air.jpg', 'article_date' => '2023-12-11 12:27:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19698', 'article_category_id' => '1', 'title' => 'Investment in Children’s Sector Low in Karnali Province', 'sub_title' => 'Provincial Government Invests One Percent Budget for Children, School Infrastructure Development', 'summary' => 'December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Only one percent budget has been appropriated for the children sector in Karnali Province, a study undertaken by the Collective Campaign for Child Rights Karnali revealed. An analysis of the budget appropriated by the Karnali Province government in three fiscal years, from 2021/22 to 2023/24, revealed that only minimal budget has been allocated for this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of a total annual budget of Rs 28.47 billion for the fiscal year 2021/22, over Rs 149 million (1.28 percent) was allocated for children. Likewise, only 0.86 percent budget was appropriated for children in the fiscal year 2022/23. Similarly, 1.07 percent budget has been allocated for children in the fiscal year 2023/24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CCR Karnali Chair Tekraj Acharya shared that the Karnali province government has allocated over Rs 355.8 million for the children’s sector this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that four areas of child rights were studied in the budget analysis. Budget allocated for the development of school infrastructure was also considered as budget for the children’s sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have urged all three tiers of the governments to increase investment in the children’s sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19426', 'image' => '20231211115038_children.jpg', 'article_date' => '2023-12-11 11:49:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19697', 'article_category_id' => '1', 'title' => 'Study on Iron Mines Excavation Gains Pace in Rukum East ', 'sub_title' => '', 'summary' => 'December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). A feasibility study has been initiated for excavation since last week after detection of iron mine in Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team consisting of geologists of the Department of Mines and Geology Sujan Devkota and Saunak Bhandari started carrying out feasibility study in Bhume Rural Municipality-3, Jhumlabang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past, the task of comprehensive study did not gain momentum due to financial reason. Bhume Rural Municipality’s Chairperson Hom Prakash Shrestha said that fresh studies on iron mines have been started in several places of the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals also informed that iron mine excavations are taking place in the areas where iron mines were detected earlier. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19425', 'image' => '20231211110802_iron.jpg', 'article_date' => '2023-12-11 11:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19696', 'article_category_id' => '1', 'title' => 'High-level Committee Begins Probe into Ncell's Share Rale row', 'sub_title' => '', 'summary' => 'A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Tankamani Sharma, the coordinator of the five-member committee, said that they had initiated the investigation in accordance with the government's mandate, aiming to conclude the inquiry within a specified timeline and present a comprehensive report with recommendations.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Coordinator Sharma outlined the committee's approach, stating that they plan to engage in discussions with relevant regulatory bodies, government officials, and service provider companies during the investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee will actively gather essential documents and information from individuals and organizations involved, seeking input and suggestions from experts, stakeholders, organizations, and the general public.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee has called for cooperation from all parties involved, urging them to provide factual information and any evidence pertinent to the issue under investigation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The secretariat of the probe is located at the Ministry of Communications and Information Technology. The committee is required to present its findings within 30 days of its formation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It is worth noting that the government established the committee on December 7 to delve into matters related to Ncell's share and purchase, assess its compliance with existing laws, and analyze its impact on revenue collection and foreign investment in Nepal, among other aspects. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19424', 'image' => '20231211060023_collage (6).jpg', 'article_date' => '2023-12-11 05:58:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '19695', 'article_category_id' => '1', 'title' => 'Global IME Bank Operates Four New Branches Simultaneously', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has brought four new branches into operation simultaneously.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Global IME Bank Limited has brought four new branches into operation simultaneously. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has inaugurated new branches in Budhanilkantha Municipality-5, Budhanilkantha, Chandragiri Municipality-13, Dahachok, Bharatpur Metropolitan City-8 in Chitwan, Sharadpur, and Abu Khaireni Rural Municipality-3 in Tanahun.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Starting from Sunday, all banking services will be available at these new branches. Global IME Bank stands out as the first private sector bank with a branch network in all seventy-seven districts across the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank, with 355 branches, 376 ATMs, 274 branchless banking services, 65 extensions, revenue collection counters, and three foreign representative offices, has been serving more than 4.6 million customers through over 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the bank has been playing a significant role in the country's economy by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, India, Jordan, and Hong Kong.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19423', 'image' => '20231210054554_collage (6).jpg', 'article_date' => '2023-12-10 17:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19694', 'article_category_id' => '1', 'title' => 'NEPSE Trading Halted as Index Surges 6% in Early Market Rally', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This sudden upswing in the NEPSE triggered multiple trading halts throughout the day, leading to the early closure of the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first pause occurred after just 5 minutes of trading, following a 4% rise in the index. This initial halt lasted for 20 minutes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When trading resumed at 11:25 AM, the market experienced another pause just two minutes later, lasting 40 minutes, as the index climbed by 5%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The final resumption at 12:07 PM saw a rapid 6% positive circuit within two minutes, resulting in the ultimate closure of the market for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, a total of 244 scrips were traded through 7,014 transactions, with 1,367,615 shares changing hands, amounting to Rs 48 crores in value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Five companies—Reliance Finance Limited (RLFL), Joshi Hydropower Development Limited (JOSHI), Rapti Hydro And General Construction Limited (RHGCL), Shuvam Power Limited (SPL), and Kalinchowk Darshan Limited (KDL)—each experienced a 10% rise, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mountain Energy Nepal (MEN) led in turnover with Rs 3.58 crores, while NMB Sulav Investment Fund-2 (NSIF2) incurred the highest loss at 1.97%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the green zone. The HydroPower Index saw the most significant gain at 8.63%, while the Mutual Fund Index had the smallest increase at 0.21%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19422', 'image' => '20231210035429_collage (5).jpg', 'article_date' => '2023-12-10 15:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19692', 'article_category_id' => '1', 'title' => 'NRB Makes Effort to Revitalize the Economy by Reducing Interest Rates', 'sub_title' => '', 'summary' => 'December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant. Nepal Rastra Bank has become flexible towards the monetary policy through the first quarter review after analyzing that the indicators of the external sector have eased in the economy due to the tight policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the central bank, it adopted flexibility in the policy arrangements in view of the improvement in domestic economic situation along with the increase in foreign exchange reserves. Moreover, there was pressure from all sides to become flexible because of the increasing problems in the economy due to strict policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Friday, while unveiling the first quarterly review of the monetary policy of the current fiscal year, the central bank indicated that it is going to reduce the interest rate by reducing the interest rate corridor. Likewise, the provisions related to the existing risk weight of share mortgage, real estate and hire purchase loans have been reviewed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The installment of housing loan has also revised. In order to provide relief to the businessmen who are in trouble due to the decline in economic activities, arrangements have been made to restructure loans and provide housing loans at subsidized interest rates in earthquake-affected areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB Governor Maha Prasad Adhikari said in a press conference on Friday that the policy rates have been reviewed to increase credit investment. "Although the liquidity situation has eased recently, banks have not been able to increase credit flow," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Governor Adhikari claimed that if the central bank’s decision to reduce the policy rates will decrease the interest rate and the credit flow will increase and this will revive the sluggish economy. "The big countries of the world still have a tight monetary policy," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Efforts to reduce interest rates</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank has tried to reduce the interest rate by reviewing the monetary policy. In the policy, the bank rate has been reduced from 7.5 percent to 7 percent, the policy rate has been reduced from 6.5 percent to 5.5 percent and the deposit collection rate has been reduced from 4.5 percent to 3 percent. However, the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR) have been kept unchanged. Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank has said that if the policy and bank rates decrease, the cost of liquidity management of the banks will be reduced and the interest rate will also be cheaper.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the period during which bonds can be counted as deposits has also been extended to raise funds for lending to the banks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Relief to distressed debtors</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB announced that relief will be given to the borrowers of banks and financial institutions who are in trouble due to the review of monetary policy. It is mentioned in the review that the central bank will facilitate the borrowers who are in trouble due to circumstances through means such as loan restructuring and rescheduling while action will be taken against those who do not pay loan on purpose.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Based on the analysis of the applications received from the borrowers who are in trouble, it has been announced that the period in which the banks can restructure the loan by charging 10 percent of the outstanding interest will be maintained until mid-April.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, the period for loan restructuring and rescheduling was until the mid-December.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it is mentioned in the review that if the borrowers who are in regular contact with the microfinance financial institution but are unable to regularize their loan payments due to situational problems, they will be able to restructure the loans of such borrowers if they submit an application for loan restructuring within the next three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Address to earthquake victims</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal Rastra Bank has announced that it will provide loans at subsidized interest rates for the reconstruction of residential houses damaged due to the November 3 earthquake in western Nepal. In the review of monetary policy, it is mentioned that when banks and financial institutions give residential home loans of up to Rs 2.5 million to the families listed as earthquake victims, there will be no additional premium of more than 2 percentage points on the base rate. Similarly, it has been announced in the review that for the reconstruction of public schools, public hospitals and health posts damaged due to the earthquake, banks can contribute up to 40 percent of the amount to be spent separately to the social responsibility fund from the profits of the previous and current years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Flexible in real estate loans</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Through the revised monetary policy, the NRB has decided to reduce the risk weight of real estate loans and maintain the risk weight for share mortgage loans exceeding Rs 50 million at 125 percent. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19421', 'image' => '20231210025922_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-10 14:58:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19691', 'article_category_id' => '1', 'title' => 'Experts Recommend 'Controlled Legalization' of Marijuana', 'sub_title' => '', 'summary' => 'December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Policy Research Institute in collaboration with Nepal Health Research Council conducted a study on 'Legalization of Marijuana Cultivation in Nepal: Possibilities and Challenges' and made this recommendation to the government saying that many countries of the world have adopted this policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A team of experts including Dr Manita Kusi, Dr Hari Sharma Neupane, Dr Mukunda Raj Kattel, Advocate Hari Prasad Mainali, Prof Rajendra Gyawali, Dr Prerak Regmi, Pushkar Basyal and others researched and prepared the report for the institute. The report has recommended the government to amend the current laws of the Narcotic Drug Control Act, 2033. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts recommended developing regulatios, method and structure for the use and trade of marijuana. Although the full legalization of marijuana is not possible at the moment, researchers have indicated in the report that 'controlled legalization' can be followed as other countries have adopted.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report concluded that it is important to be aware of the "harmful effects" of marijuana products. It is essential to create necessary regulations for its monitoring and to prepare specific methods, structures and human resources to address the social ills caused by its use such as addiction, social violence, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, clarity should be maintained about the controlled use of marijuana in the current Narcotic Drugs Control Act. In addition, the study shows that the ambiguity regarding the use of marijuana can be removed if the relevant government agencies create clear regulations and implement them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts have recommended defining marijuana based on its use. The current definition of the Narcotics Drug Control Act makes all varieties of marijuana illegal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this law, as the cultivation and business of marijuana species with less than 0.3 percent tetra-hydro-cannabinol (THC)</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, whose medicinal and recreational effects are considered insignificant and used for industrial production, is also considered illegal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study says that this definition resulted in the closure of industries that processed marijuana.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is necessary to define marijuana based on the compounds found in marijuana to prevent such a situation in the future. The report suggests that marijuana species with less than 0.3% THC should be allowed for cultivation and business under the name of 'Industrial Cannabis' and those with more than 0.3% THC should be allowed for research and medicinal use with proper regulation according to the principle of 'controlled use'. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the study report, it is recommended to conduct a scientific study about the medicinal aspects of marijuana. Stating that there is not much research on the medicinal properties of cannabis in Nepal, it is also said that the current knowledge based on traditional/Ayurvedic practice is not scientifically agreed upon. It is mentioned in the report that it is necessary to determine the amount of chemical elements found in which type of cannabis and the necessary infrastructure for production of modern laboratory, skilled manpower and quality control, keeping in mind the possibility that Nepali cannabis can be established in the world market as an integral part of pharmaceutical science. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report suggests promoting scientific hemp cultivation for industrial purposes. According to the study, there is a lack of scientific knowledge about which type of cannabis cultivation is suitable in which climate of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to fill this gap, it is recommended to carry out necessary studies and research to promote the cultivation of cannabis suitable for the geographical environment and climate, and to orient and train the farmers accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study report also suggested promoting evidence-based Ayurvedic medicine. According to the study, there is a long tradition of making cannabis-mixed medicine in the Ayurvedic medical system. Such medicines are used in the treatment of many diseases including indigestion, rheumatism, problems caused by contaminated food (food poisoning). However, there is a lack of reliable (scientific) knowledge about the long-term effects of these and other Ayurvedic medicines, due to which the expected promotion of the Ayurvedic system of medicine, which has a long history and tradition, has not been possible. In order to solve this problem, testing the medicinal properties of cannabis and other plants used in the manufacture of Ayurvedic medicine, identifying the diseases that can be diagnosed and treating them through scientific methods and developing human resources to promote evidence-based Ayurvedic medicine can contribute to human health, the research pointed out.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of Prohibition in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 1961, the United Nations adopted a convention with the proposal that marijuana be listed as a narcotic drug and its production and use should be restricted worldwide. As a member of the United Nations, the government of Nepal banned the cultivation, use and trade of cannabis in Nepal through a declaration in 2030 BS. Three years later, in the year 2033, the government formulated law necessary to implement the declaration. The Narcotic Drugs Control Act, 2033, was amended at various times based on the experience and practice of developed countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although a bill regarding the legalization of marijuana has been registered in the Parliament of Nepal, it has not been able to move forward. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19420', 'image' => '20231210023326_20221030030309_20201204014433_1607039093.Clipboard09.jpg', 'article_date' => '2023-12-10 14:32:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19690', 'article_category_id' => '1', 'title' => 'Revenue Policy Affecting Business in Border Areas', 'sub_title' => '', 'summary' => 'December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season. Deepak Sarraf, a businessman from Maisthanchowk, was expecting that his business would increase during festivals like Dashain, Tihar and Chhath. However, he was disappointed as customers did not come to his shop as expected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders who were worried due to lack of business amid economic recession were hopeful that they would get some relief during the festive season. However, traders like Sarraf are worried what to do next as their business did not go well even during the major festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While the businessmen of Birgunj spend the day waiting for customers in vain, the Indian city of Raxaul across the border is crowded with Nepali customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rajendra Gupta, a businessman in the area said, “During the festival, it is difficult to even set foot in Raxaul due to the crowd of Nepali customers. At other times as well, majority of customers shopping across border are from Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the year 2007, the government introduced a rule requiring importers to pay customs duty on goods worth more than Rs 100. However, this rule is yet to be implemented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Customers from Birgunj shopping across the border in the Indian market is not the only problem. Another major problem is the flourishing business of illegally smuggled goods into Nepal as the goods are easily available across the border.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders claim that the smuggled goods, which are imported by evading customs duty, reach the main cities of the country including Kathmandu. The government has deployed customs officials, security forces and revenue investigation agencies at the border to control illegal imports. However, smuggling of goods continues unabated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> Traders complain that smuggling has flourished due to the collusion of those agencies. A trader said, “The empire of illegal imports is becoming so strong that it has become a challenge for domestically-produced goods.” A study conducted by Nepal Rastra Bank a few years ago revealed that about 35 percent of the total imports from India is brought through informal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessman Gupta says that when goods are imported through illegal means, there is an adverse effect on trade, production and all aspects related to it in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> According to experts, Nepali customers are attracted to the Indian market because the goods are cheaper there after India's reforms in the tax system through the goods and services tax.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They claim that the problem of smuggling will not be controlled until the government improves the revenue system because this is also the cause of the illegal import that is happening institutionally. India imposes less tax on consumer goods and more on luxury goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI said, “When the prices of common consumable goods are low there, they are imported illegally. We have a high rate of revenue for the import of those goods. This has led to the problem of smuggling.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Temani claims that if the total revenue collected in Nepal's customs is made equal to the goods and services tax in India, this problem will be solved automatically. India does not levy GST on exports to Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19418', 'image' => '20231210015420_1702175870.jpg', 'article_date' => '2023-12-10 13:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19689', 'article_category_id' => '1', 'title' => '34.4 Percent of Women Own Agricultural Land in Nepal', 'sub_title' => '', 'summary' => 'December 10: Agricultural Census 2078 has shown that the share of women who own agricultural land in Nepal is 34.4 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has shown that the share of women who own agricultural land in Nepal is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. This is the first study in Nepal about women's ownership of agricultural land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The National Statistics Office announced the results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> regarding indicators of sustainable development goals and published data on women's ownership of agricultural land. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data, women in Gandaki Province own most of the agricultural land, while Karnali Province has the least amount of women’s ownership. The share of women having agricultural land in their name is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Gandaki Province and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Karnali.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of the NSO, Badri Kumar Karki, said that Gandaki Province announced large amount of tax exemption while keeping agricultural land in name of women and therefore more women in the province have ownership of agricultural. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">shows that the percentage of adult agricultural population (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years and above) who have secured ownership of agricultural land is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.4. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the state wise data, this percentage is the highest in Gandaki at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the lowest in Karnali at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">From the point of view of gender analysis, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total adult males involved in farming families have secure ownership of agricultural land. In case of women, this percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Province-wise, the percentage of adult males is the highest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Bagmati Province and the lowest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the case of adult women having ownership of agricultural land, it has been found that the highest percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Gandaki Province and the lowest is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In Nepal, out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households involved in agricultural work, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households are headed by women.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agricultural land has an important contribution to the livelihood in Nepal. Therefore, the ownership of agricultural land can make a significant contribution to the overall upliftment of the agricultural population as well as women's empowerment in particular. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The data shows that a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">349</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are involved in agriculture in Nepal</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">412 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">women and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">936 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">men.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19417', 'image' => '20231210124135_1702174003.1 omen.jpg', 'article_date' => '2023-12-10 12:40:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The flow of water in the rivers and streams has decreased due to the onset of winter and the production of the power plants in the country has started to decrease. </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">As the demand for electricity has increased in the domestic market, the NEA has started importing electricity import from the Indian market.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA had been selling surplus electricity to India during the monsoon. The authority said that electricity export has already been stopped from Friday night.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Kulman Ghising, executive director of the authority, said that the maximum demand for electricity on a daily basis is around 1,700 megawatts, and since domestic production alone is not enough to meet it, a small amount of electricity has been imported.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"Currently, electricity generation and demand are almost equal, we are collecting water in our semi-reservoir power plants during the day and night time and running them during the peak hours in the evening and morning to meet the electricity demand," said Executive Director Ghising.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to Ghising, the export will resume from the second week of Baisakh (last week of April, 2024).</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This year, around 900 megawatts electricity is being added to the national grid. Similarly, next year, power worth approximately Rs 25 billion will be exported. High-powered transmission lines are being constructed for improving the transmission of electricity between the two countries. On the other hand, hydropower projects are being built within the country. In this context, a climate is being created wherein electricity worth around Rs 100 billion will be exported in the next five years." </span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The NEA exported electricity worth Rs 15.4 billion to India between June 1 and December 6, 2023. A maximum of 700 megawatts of electricity was sold on a daily basis at Rs 8.77 per unit. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => 'Nepal, India, electricity, import, export, surplus, dry, season, river, water, decline, demand, market, peak, hour', 'description' => '', 'sortorder' => '19429', 'image' => '20231211013200_20231208030316_elec.jpg', 'article_date' => '2023-12-11 13:31:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '19702', 'article_category_id' => '1', 'title' => 'Ncell Employees Trade Union says Rumors about Sale of the Company’s Shares are Baseless', 'sub_title' => '', 'summary' => 'December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about 80 percent stakes in Ncell Axiata Limited.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Ncell’s Employees Trade Union has said that its attention has been drawn to the "baseless" publicity stunt in media and social networks regarding the sale of shares of Reynolds Holding, which owns about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent stakes in Ncell Axiata Limited.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The union said in a statement that it is a normal process to buy and sell shares of the company and since Ncell is a multinational company, it is natural to do business according to national and international practices. The statement further mentions that the process of purchase and sale of shares did not make any difference in the company's daily performance and service operations. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Referring to the fact that Ncell has been paying taxes regularly, the statement added that the company has so far paid more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">283</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in taxes to the Government of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"The company has made significant contributions in various fields under corporate social responsibility and has extended the network to the far reaches of the country and provided telecommunication services to more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">million people," reads the statement.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the union, Ncell has directly and indirectly created more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">jobs. The union alleges that the unfounded accusation is motivated by the desire to influence the investigation report at a time when the government has formed an investigation committee to find the truth behild the process of the purchase and sale of shares of Ncell Axiata.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19428', 'image' => '20231211032452_ncell.jpg', 'article_date' => '2023-12-11 15:23:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19699', 'article_category_id' => '1', 'title' => 'Buddha Air adds another Aircraft to its Fleet', 'sub_title' => '', 'summary' => 'December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 11: Buddha Air has started commercial flights with its seventeenth aircraft from Sunday. The aircraft made its first flight from Kathmandu to Tumlingtar with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">59</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air had brought the aircraft to Kathmandu on October </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. After bringing the plane, it was painted and all the necessary procedures were completed before Buddha Air started commercial flights from Sunday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the addition of the new aircraft with call sign </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">N-AOC, Buddha Air now has a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft in its fleet.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air said it added the new aircraft in line with its commitment to make air travel easy and comfortable to its customers.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Rupesh Joshi, marketing director of Buddha Air, passengers will get easy access to flights as the company has increased the number of flights significantly.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Buddha Air has three</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42-320 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">ATR-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">72-500 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19427', 'image' => '20231211122755_1702208049.budhha air.jpg', 'article_date' => '2023-12-11 12:27:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19698', 'article_category_id' => '1', 'title' => 'Investment in Children’s Sector Low in Karnali Province', 'sub_title' => 'Provincial Government Invests One Percent Budget for Children, School Infrastructure Development', 'summary' => 'December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: It has been revealed that the Karnali Province government has made very little investment for children in the province. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Only one percent budget has been appropriated for the children sector in Karnali Province, a study undertaken by the Collective Campaign for Child Rights Karnali revealed. An analysis of the budget appropriated by the Karnali Province government in three fiscal years, from 2021/22 to 2023/24, revealed that only minimal budget has been allocated for this sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Out of a total annual budget of Rs 28.47 billion for the fiscal year 2021/22, over Rs 149 million (1.28 percent) was allocated for children. Likewise, only 0.86 percent budget was appropriated for children in the fiscal year 2022/23. Similarly, 1.07 percent budget has been allocated for children in the fiscal year 2023/24. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CCR Karnali Chair Tekraj Acharya shared that the Karnali province government has allocated over Rs 355.8 million for the children’s sector this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that four areas of child rights were studied in the budget analysis. Budget allocated for the development of school infrastructure was also considered as budget for the children’s sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Stakeholders have urged all three tiers of the governments to increase investment in the children’s sector. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19426', 'image' => '20231211115038_children.jpg', 'article_date' => '2023-12-11 11:49:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19697', 'article_category_id' => '1', 'title' => 'Study on Iron Mines Excavation Gains Pace in Rukum East ', 'sub_title' => '', 'summary' => 'December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 11: The government has started a comprehensive study to excavate iron mines in Rukum (East). A feasibility study has been initiated for excavation since last week after detection of iron mine in Bhume Rural Municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A team consisting of geologists of the Department of Mines and Geology Sujan Devkota and Saunak Bhandari started carrying out feasibility study in Bhume Rural Municipality-3, Jhumlabang. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the past, the task of comprehensive study did not gain momentum due to financial reason. Bhume Rural Municipality’s Chairperson Hom Prakash Shrestha said that fresh studies on iron mines have been started in several places of the rural municipality. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals also informed that iron mine excavations are taking place in the areas where iron mines were detected earlier. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19425', 'image' => '20231211110802_iron.jpg', 'article_date' => '2023-12-11 11:06:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19696', 'article_category_id' => '1', 'title' => 'High-level Committee Begins Probe into Ncell's Share Rale row', 'sub_title' => '', 'summary' => 'A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 11: A high-level committee, tasked with investigating the Ncell share sale controversy, officially commenced its inquiry on Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Tankamani Sharma, the coordinator of the five-member committee, said that they had initiated the investigation in accordance with the government's mandate, aiming to conclude the inquiry within a specified timeline and present a comprehensive report with recommendations.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Coordinator Sharma outlined the committee's approach, stating that they plan to engage in discussions with relevant regulatory bodies, government officials, and service provider companies during the investigation. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee will actively gather essential documents and information from individuals and organizations involved, seeking input and suggestions from experts, stakeholders, organizations, and the general public.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The committee has called for cooperation from all parties involved, urging them to provide factual information and any evidence pertinent to the issue under investigation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> The secretariat of the probe is located at the Ministry of Communications and Information Technology. The committee is required to present its findings within 30 days of its formation.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">It is worth noting that the government established the committee on December 7 to delve into matters related to Ncell's share and purchase, assess its compliance with existing laws, and analyze its impact on revenue collection and foreign investment in Nepal, among other aspects. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-11', 'modified' => '2023-12-11', 'keywords' => '', 'description' => '', 'sortorder' => '19424', 'image' => '20231211060023_collage (6).jpg', 'article_date' => '2023-12-11 05:58:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '19695', 'article_category_id' => '1', 'title' => 'Global IME Bank Operates Four New Branches Simultaneously', 'sub_title' => '', 'summary' => 'Global IME Bank Limited has brought four new branches into operation simultaneously.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Global IME Bank Limited has brought four new branches into operation simultaneously. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank has inaugurated new branches in Budhanilkantha Municipality-5, Budhanilkantha, Chandragiri Municipality-13, Dahachok, Bharatpur Metropolitan City-8 in Chitwan, Sharadpur, and Abu Khaireni Rural Municipality-3 in Tanahun.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Starting from Sunday, all banking services will be available at these new branches. Global IME Bank stands out as the first private sector bank with a branch network in all seventy-seven districts across the country. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The bank, with 355 branches, 376 ATMs, 274 branchless banking services, 65 extensions, revenue collection counters, and three foreign representative offices, has been serving more than 4.6 million customers through over 1,100 service centers.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Moreover, the bank has been playing a significant role in the country's economy by facilitating remittances from countries such as the United States, the United Kingdom, Canada, Australia, Malaysia, South Korea, Japan, Saudi Arabia, Qatar, the UAE, Bahrain, India, Jordan, and Hong Kong.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19423', 'image' => '20231210054554_collage (6).jpg', 'article_date' => '2023-12-10 17:44:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '19694', 'article_category_id' => '1', 'title' => 'NEPSE Trading Halted as Index Surges 6% in Early Market Rally', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: The Nepal Stock Exchange (NEPSE) Index witnessed a massive surge, reaching 1963.98 points, marking a remarkable 6% increase or 112.20 points on the first trading day of the week, Sunday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">This sudden upswing in the NEPSE triggered multiple trading halts throughout the day, leading to the early closure of the market. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The first pause occurred after just 5 minutes of trading, following a 4% rise in the index. This initial halt lasted for 20 minutes. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">When trading resumed at 11:25 AM, the market experienced another pause just two minutes later, lasting 40 minutes, as the index climbed by 5%. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The final resumption at 12:07 PM saw a rapid 6% positive circuit within two minutes, resulting in the ultimate closure of the market for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the trading session, a total of 244 scrips were traded through 7,014 transactions, with 1,367,615 shares changing hands, amounting to Rs 48 crores in value. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Five companies—Reliance Finance Limited (RLFL), Joshi Hydropower Development Limited (JOSHI), Rapti Hydro And General Construction Limited (RHGCL), Shuvam Power Limited (SPL), and Kalinchowk Darshan Limited (KDL)—each experienced a 10% rise, hitting the positive circuit for the day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Mountain Energy Nepal (MEN) led in turnover with Rs 3.58 crores, while NMB Sulav Investment Fund-2 (NSIF2) incurred the highest loss at 1.97%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector indices closed in the green zone. The HydroPower Index saw the most significant gain at 8.63%, while the Mutual Fund Index had the smallest increase at 0.21%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19422', 'image' => '20231210035429_collage (5).jpg', 'article_date' => '2023-12-10 15:53:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '19692', 'article_category_id' => '1', 'title' => 'NRB Makes Effort to Revitalize the Economy by Reducing Interest Rates', 'sub_title' => '', 'summary' => 'December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The central bank, which has been adopting a tight monetary policy for 'economic reforms', has become flexible to 'make the economy vibrant. Nepal Rastra Bank has become flexible towards the monetary policy through the first quarter review after analyzing that the indicators of the external sector have eased in the economy due to the tight policy.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the central bank, it adopted flexibility in the policy arrangements in view of the improvement in domestic economic situation along with the increase in foreign exchange reserves. Moreover, there was pressure from all sides to become flexible because of the increasing problems in the economy due to strict policies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">On Friday, while unveiling the first quarterly review of the monetary policy of the current fiscal year, the central bank indicated that it is going to reduce the interest rate by reducing the interest rate corridor. Likewise, the provisions related to the existing risk weight of share mortgage, real estate and hire purchase loans have been reviewed.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The installment of housing loan has also revised. In order to provide relief to the businessmen who are in trouble due to the decline in economic activities, arrangements have been made to restructure loans and provide housing loans at subsidized interest rates in earthquake-affected areas.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB Governor Maha Prasad Adhikari said in a press conference on Friday that the policy rates have been reviewed to increase credit investment. "Although the liquidity situation has eased recently, banks have not been able to increase credit flow," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Governor Adhikari claimed that if the central bank’s decision to reduce the policy rates will decrease the interest rate and the credit flow will increase and this will revive the sluggish economy. "The big countries of the world still have a tight monetary policy," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Efforts to reduce interest rates</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The central bank has tried to reduce the interest rate by reviewing the monetary policy. In the policy, the bank rate has been reduced from 7.5 percent to 7 percent, the policy rate has been reduced from 6.5 percent to 5.5 percent and the deposit collection rate has been reduced from 4.5 percent to 3 percent. However, the mandatory cash reserve ratio (CRR) and statutory liquidity ratio (SLR) have been kept unchanged. Banks get overnight liquidity facility at policy rate and permanent liquidity facility at bank rate. The central bank has said that if the policy and bank rates decrease, the cost of liquidity management of the banks will be reduced and the interest rate will also be cheaper.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Likewise, the period during which bonds can be counted as deposits has also been extended to raise funds for lending to the banks. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Relief to distressed debtors</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">NRB announced that relief will be given to the borrowers of banks and financial institutions who are in trouble due to the review of monetary policy. It is mentioned in the review that the central bank will facilitate the borrowers who are in trouble due to circumstances through means such as loan restructuring and rescheduling while action will be taken against those who do not pay loan on purpose.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Based on the analysis of the applications received from the borrowers who are in trouble, it has been announced that the period in which the banks can restructure the loan by charging 10 percent of the outstanding interest will be maintained until mid-April.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Previously, the period for loan restructuring and rescheduling was until the mid-December.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Similarly, it is mentioned in the review that if the borrowers who are in regular contact with the microfinance financial institution but are unable to regularize their loan payments due to situational problems, they will be able to restructure the loans of such borrowers if they submit an application for loan restructuring within the next three months.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Address to earthquake victims</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Nepal Rastra Bank has announced that it will provide loans at subsidized interest rates for the reconstruction of residential houses damaged due to the November 3 earthquake in western Nepal. In the review of monetary policy, it is mentioned that when banks and financial institutions give residential home loans of up to Rs 2.5 million to the families listed as earthquake victims, there will be no additional premium of more than 2 percentage points on the base rate. Similarly, it has been announced in the review that for the reconstruction of public schools, public hospitals and health posts damaged due to the earthquake, banks can contribute up to 40 percent of the amount to be spent separately to the social responsibility fund from the profits of the previous and current years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Flexible in real estate loans</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Through the revised monetary policy, the NRB has decided to reduce the risk weight of real estate loans and maintain the risk weight for share mortgage loans exceeding Rs 50 million at 125 percent. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19421', 'image' => '20231210025922_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-12-10 14:58:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '19691', 'article_category_id' => '1', 'title' => 'Experts Recommend 'Controlled Legalization' of Marijuana', 'sub_title' => '', 'summary' => 'December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: At a time when there is a serious debate about the legality of marijuana cultivation in Nepal, experts have recommended the government for ‘controlled legitimacy’ in production and use of the banned substance.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Policy Research Institute in collaboration with Nepal Health Research Council conducted a study on 'Legalization of Marijuana Cultivation in Nepal: Possibilities and Challenges' and made this recommendation to the government saying that many countries of the world have adopted this policy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A team of experts including Dr Manita Kusi, Dr Hari Sharma Neupane, Dr Mukunda Raj Kattel, Advocate Hari Prasad Mainali, Prof Rajendra Gyawali, Dr Prerak Regmi, Pushkar Basyal and others researched and prepared the report for the institute. The report has recommended the government to amend the current laws of the Narcotic Drug Control Act, 2033. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts recommended developing regulatios, method and structure for the use and trade of marijuana. Although the full legalization of marijuana is not possible at the moment, researchers have indicated in the report that 'controlled legalization' can be followed as other countries have adopted.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report concluded that it is important to be aware of the "harmful effects" of marijuana products. It is essential to create necessary regulations for its monitoring and to prepare specific methods, structures and human resources to address the social ills caused by its use such as addiction, social violence, etc.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the study report, clarity should be maintained about the controlled use of marijuana in the current Narcotic Drugs Control Act. In addition, the study shows that the ambiguity regarding the use of marijuana can be removed if the relevant government agencies create clear regulations and implement them.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The experts have recommended defining marijuana based on its use. The current definition of the Narcotics Drug Control Act makes all varieties of marijuana illegal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to this law, as the cultivation and business of marijuana species with less than 0.3 percent tetra-hydro-cannabinol (THC)</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, whose medicinal and recreational effects are considered insignificant and used for industrial production, is also considered illegal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study says that this definition resulted in the closure of industries that processed marijuana.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is necessary to define marijuana based on the compounds found in marijuana to prevent such a situation in the future. The report suggests that marijuana species with less than 0.3% THC should be allowed for cultivation and business under the name of 'Industrial Cannabis' and those with more than 0.3% THC should be allowed for research and medicinal use with proper regulation according to the principle of 'controlled use'. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the study report, it is recommended to conduct a scientific study about the medicinal aspects of marijuana. Stating that there is not much research on the medicinal properties of cannabis in Nepal, it is also said that the current knowledge based on traditional/Ayurvedic practice is not scientifically agreed upon. It is mentioned in the report that it is necessary to determine the amount of chemical elements found in which type of cannabis and the necessary infrastructure for production of modern laboratory, skilled manpower and quality control, keeping in mind the possibility that Nepali cannabis can be established in the world market as an integral part of pharmaceutical science. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The report suggests promoting scientific hemp cultivation for industrial purposes. According to the study, there is a lack of scientific knowledge about which type of cannabis cultivation is suitable in which climate of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to fill this gap, it is recommended to carry out necessary studies and research to promote the cultivation of cannabis suitable for the geographical environment and climate, and to orient and train the farmers accordingly.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The study report also suggested promoting evidence-based Ayurvedic medicine. According to the study, there is a long tradition of making cannabis-mixed medicine in the Ayurvedic medical system. Such medicines are used in the treatment of many diseases including indigestion, rheumatism, problems caused by contaminated food (food poisoning). However, there is a lack of reliable (scientific) knowledge about the long-term effects of these and other Ayurvedic medicines, due to which the expected promotion of the Ayurvedic system of medicine, which has a long history and tradition, has not been possible. In order to solve this problem, testing the medicinal properties of cannabis and other plants used in the manufacture of Ayurvedic medicine, identifying the diseases that can be diagnosed and treating them through scientific methods and developing human resources to promote evidence-based Ayurvedic medicine can contribute to human health, the research pointed out.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">History of Prohibition in Nepal</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In 1961, the United Nations adopted a convention with the proposal that marijuana be listed as a narcotic drug and its production and use should be restricted worldwide. As a member of the United Nations, the government of Nepal banned the cultivation, use and trade of cannabis in Nepal through a declaration in 2030 BS. Three years later, in the year 2033, the government formulated law necessary to implement the declaration. The Narcotic Drugs Control Act, 2033, was amended at various times based on the experience and practice of developed countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although a bill regarding the legalization of marijuana has been registered in the Parliament of Nepal, it has not been able to move forward. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19420', 'image' => '20231210023326_20221030030309_20201204014433_1607039093.Clipboard09.jpg', 'article_date' => '2023-12-10 14:32:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '19690', 'article_category_id' => '1', 'title' => 'Revenue Policy Affecting Business in Border Areas', 'sub_title' => '', 'summary' => 'December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">December 10: Traders in the border town of Birgunj are disappointed due to lack of business even during the recently held festive season. Deepak Sarraf, a businessman from Maisthanchowk, was expecting that his business would increase during festivals like Dashain, Tihar and Chhath. However, he was disappointed as customers did not come to his shop as expected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders who were worried due to lack of business amid economic recession were hopeful that they would get some relief during the festive season. However, traders like Sarraf are worried what to do next as their business did not go well even during the major festivals.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">While the businessmen of Birgunj spend the day waiting for customers in vain, the Indian city of Raxaul across the border is crowded with Nepali customers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rajendra Gupta, a businessman in the area said, “During the festival, it is difficult to even set foot in Raxaul due to the crowd of Nepali customers. At other times as well, majority of customers shopping across border are from Nepal.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">In the year 2007, the government introduced a rule requiring importers to pay customs duty on goods worth more than Rs 100. However, this rule is yet to be implemented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Customers from Birgunj shopping across the border in the Indian market is not the only problem. Another major problem is the flourishing business of illegally smuggled goods into Nepal as the goods are easily available across the border.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Traders claim that the smuggled goods, which are imported by evading customs duty, reach the main cities of the country including Kathmandu. The government has deployed customs officials, security forces and revenue investigation agencies at the border to control illegal imports. However, smuggling of goods continues unabated.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> Traders complain that smuggling has flourished due to the collusion of those agencies. A trader said, “The empire of illegal imports is becoming so strong that it has become a challenge for domestically-produced goods.” A study conducted by Nepal Rastra Bank a few years ago revealed that about 35 percent of the total imports from India is brought through informal channels. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Businessman Gupta says that when goods are imported through illegal means, there is an adverse effect on trade, production and all aspects related to it in the country. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> According to experts, Nepali customers are attracted to the Indian market because the goods are cheaper there after India's reforms in the tax system through the goods and services tax.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">They claim that the problem of smuggling will not be controlled until the government improves the revenue system because this is also the cause of the illegal import that is happening institutionally. India imposes less tax on consumer goods and more on luxury goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Ashok Kumar Temani, president of Madhesh Province chapter of FNCCI said, “When the prices of common consumable goods are low there, they are imported illegally. We have a high rate of revenue for the import of those goods. This has led to the problem of smuggling.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Temani claims that if the total revenue collected in Nepal's customs is made equal to the goods and services tax in India, this problem will be solved automatically. India does not levy GST on exports to Nepal. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19418', 'image' => '20231210015420_1702175870.jpg', 'article_date' => '2023-12-10 13:53:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19689', 'article_category_id' => '1', 'title' => '34.4 Percent of Women Own Agricultural Land in Nepal', 'sub_title' => '', 'summary' => 'December 10: Agricultural Census 2078 has shown that the share of women who own agricultural land in Nepal is 34.4 percent.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">December 10: Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> has shown that the share of women who own agricultural land in Nepal is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.4</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. This is the first study in Nepal about women's ownership of agricultural land.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The National Statistics Office announced the results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> regarding indicators of sustainable development goals and published data on women's ownership of agricultural land. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data, women in Gandaki Province own most of the agricultural land, while Karnali Province has the least amount of women’s ownership. The share of women having agricultural land in their name is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">38.5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Gandaki Province and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">28.7</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in Karnali.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Director of the NSO, Badri Kumar Karki, said that Gandaki Province announced large amount of tax exemption while keeping agricultural land in name of women and therefore more women in the province have ownership of agricultural. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The results of the National Agricultural Census </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2078</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">shows that the percentage of adult agricultural population (</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">18</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years and above) who have secured ownership of agricultural land is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">31.4. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Looking at the state wise data, this percentage is the highest in Gandaki at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and the lowest in Karnali at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">29</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">From the point of view of gender analysis, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">42.9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the total adult males involved in farming families have secure ownership of agricultural land. In case of women, this percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Province-wise, the percentage of adult males is the highest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Bagmati Province and the lowest at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40.1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Madhesh Province. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, in the case of adult women having ownership of agricultural land, it has been found that the highest percentage is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">24.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Gandaki Province and the lowest is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> in Karnali Province.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In Nepal, out of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households involved in agricultural work, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the households are headed by women.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Agricultural land has an important contribution to the livelihood in Nepal. Therefore, the ownership of agricultural land can make a significant contribution to the overall upliftment of the agricultural population as well as women's empowerment in particular. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The data shows that a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">349</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> are involved in agriculture in Nepal</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">including </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">68</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">412 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">women and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">936 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">men.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19417', 'image' => '20231210124135_1702174003.1 omen.jpg', 'article_date' => '2023-12-10 12:40:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '19688', 'article_category_id' => '1', 'title' => 'World Bank and ADB Join Forces for Sustainable Development of Nepal’s Hydropower Sector', 'sub_title' => '', 'summary' => 'December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">December 10: The World Bank (WB) and the Asian Development Bank (ADB) have announced collaboration to strengthen Nepal’s hydropower sector specifically in the context of the proposed Upper Arun and Dudh Koshi hydropower projects.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The two development partners of Nepal recently signed a memorandum of understanding (MOU) stipulating cooperation between them for an initial period of five years.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank’s Vice President for South Asia Martin Raiser and ADB’s Vice-President for Sectors and Themes Fatima Yasmin signed the agreement on the sidelines of COP28 on December 6, reads a statement issued by WB.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“The full potential of Nepal’s enormous hydropower resources cannot be realized without close partnership between the Nepalese government, development partners and the private sector,” the statement quoted Martin Raiser as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“With this MOU, the ADB and the World Bank are laying the foundations for closer collaboration in financing and policy advice in Nepal’s hydropower sector, with the aim to support the country’s green, sustainable and inclusive development for decades to come.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Meanwhile, Yasmin said this agreement between ADB and the World Bank is a significant step in strengthening Nepal's energy security amid rising demands from population growth and urbanization. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">“It also fosters power trade with neighboring countries, promoting regional cooperation, economic growth, and green and inclusive development," said Yasmin, adding, "ADB is committed to promoting clean energy solutions that align with climate action goals. Our commitment goes beyond generating power; it's also about creating positive impacts on communities, livelihoods, and the environment and contributing to a more sustainable future for all.”</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the World Bank, the MOU specifically targets three critical areas for collaboration: enhancing country-level collaboration, strengthening co-financing, and boosting joint action on climate change. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The pilot approach between the two multilateral development banks provides opportunities for collaboration in knowledge and experience sharing to ensure common understanding of the hydropower sector in Nepal, joint analytical studies, and consultation in support of the development of the hydropower sector, added the statement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Under the MOU, the World Bank and Asian Development Bank will also work together on strengthening the institutional capacity of Nepal’s executing and implementing agencies in the development of large hydropower projects, and the preparation and financing of projects in the energy sector.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">World Bank added that this is the first MOU signed between ADB and the World Bank following the joint statement on strengthening collaboration for greater impact issued by the heads of multilateral development banks at the World Bank-IMF Annual Meetings in Marrakech in October, 2023.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19416', 'image' => '20231210112715_GAqRgoPbAAAnvbE.jpg', 'article_date' => '2023-12-10 11:26:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19686', 'article_category_id' => '1', 'title' => 'Tea Industry in Crisis: Stakeholders ', 'sub_title' => '', 'summary' => 'December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">December 10: Stakeholders have warned that the tea industry, the largest foreign exchange earner after cardamom, is facing a crisis. They raised this issue at a time when the National Tea and Coffee Development Board (NTCDB) is targeting to bring in foreign currency twice as much in the current fiscal year compared to the previous fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Harka Tamang, a tea farmer, said the government does not list tea as agriculture product and imposes electricity tariff on par with an industry and this is affecting irrigation. Furthermore the absence of an auction market is obstructing access to the international market. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Central Vice President of All Nepal Trade Union Bhupal Sapkota blames the NTCDB of not playing an effective role in solving the problems of tea industrialists, businessmen, farmers and workers. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, Central President of Nepal Tea Plantation Workers' Union, Deepak Tamang, accused the state of being apathetic in solving the problems of the tea sector. He complained that the board has not played a coordinating role in implementing the law while the workers of some plantations are not even getting wages as per the Labour Act. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, Executive Director of the Board, Bishnu Prasad Bhattarai, pledged to play an effective role in solving the existing problems in the tea sector and properly address all the problems raised by the stakeholders. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the board, the country earned Rs 3.80 billion in foreign exchange through tea export during the last fiscal year. The main markets of tea produced in Nepal include India, China, Sri Lanka, Russia, and the Netherlands. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Tea plantation is done in 20,237 hectares of land in Nepal with 99 percent of it produced in Koshi province. Altogether 30 orthodox tea industries and 38 CTC tea industries employ 70,000 people. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19414', 'image' => '20231210103048_20230207042911_Tea.jpg', 'article_date' => '2023-12-10 10:29:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19685', 'article_category_id' => '1', 'title' => 'Rara Welcomes over 4,500 Tourists in Four Months', 'sub_title' => '', 'summary' => 'Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">December 10: Rara, a renowned tourist destination in Karnali Province, received over 4,500 visitors in the span of four months, from July 17 to November 16, 2023.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The latest figures provided by the Rara National Park reveal that among the total 4,611 tourists, 4,490 were domestic travelers, while 96 were foreign tourists, with 24 representing SAARC countries. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Jay Hari Dhital, the Information Officer at Rara National Park, said that during the festive Dashain-Tihar vacation, Rara witnessed a significant surge in domestic tourist arrivals, contributing to a revenue of Rs 1.2 million.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In comparison, the entire year of 2079 BS saw a total of 11,000 domestic tourists, including 26 from SAARC nations and 183 other foreigners visiting Nepal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Rara National Park has implemented an entry fee system, charging Rs 100 per domestic tourist, Rs 1,500 for tourists from SAARC countries, and Rs 3,000 for other foreign visitors, according to Dhimal.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Approximately 75 percent of tourists reached Rara via air, while the remaining 25 percent opted for the land route. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">National park officials believe that Rara will lure more tourists if reliable and quality roads are made available. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-12-10', 'modified' => '2023-12-10', 'keywords' => '', 'description' => '', 'sortorder' => '19413', 'image' => '20231210065811_collage (5).jpg', 'article_date' => '2023-12-10 06:56:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
