PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures.…
PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures.…
KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks…
A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard.…
With the economic downturn, real estate transactions in Chitwan have declined. According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year…
After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three…
KATHMANDU, JULY 24: The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety…
KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on…
KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane…
KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on…
KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on…
KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates…
KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months.…
KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in…
KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these…
KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. Preliminary data from the Copernicus Climate Change Service (C3S) showed the daily global average temperature was 17.15 degrees Celsius (62.9 degrees Fahrenheit) on Monday, the warmest day in records going back to 1940. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This was 0.06C hotter than the day before on July 21, which itself broke by a small margin the all-time high temperature set a year earlier. Copernicus, which uses satellite data to update global air and sea temperatures close to real time, said its figures were provisional and final values may differ very slightly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The monitor had anticipated daily records would be exceeded as summer peaks in the northern hemisphere, and the planet endures a particularly long streak of extreme global heat driven by human-caused climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"This is exactly what climate science told us would happen if the world continued burning coal, oil and gas," said Joyce Kimutai, a climate scientist from Imperial College London, on Wednesday. "And it will continue getting hotter until we stop burning fossil fuels and reach net zero emissions." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Every month since June 2023 has eclipsed its own temperature record compared to the same month in previous years, an unprecedented 13-month streak C3S director Carlo Buontempo on Tuesday called "truly staggering". </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Climate change is causing longer, stronger and more frequent extreme weather events like heatwaves and floods, and this year has been marked by major disasters across the globe.</span> – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21359', 'image' => '20240725120200_20230604125858_global-warming.jpg', 'article_date' => '2024-07-25 12:01:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21632', 'article_category_id' => '1', 'title' => 'Simaltal Landslide caused by Unplanned Local Road Excavation: Study Report', 'sub_title' => 'Rescuers are yet to find all the missing passengers of the two buses swept away by landslide on July 12.', 'summary' => 'KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hima BK</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The report by the study committee concludes that stones and debris from the poorly planned local road caused the landslide. The finding aligns with longstanding warnings from the Department of Roads and experts about the heightened risks from the poorly built roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">A landslide swept away two buses with 65 people onboard, including the drivers, into the raging Trishuli River early morning on July 12 at Simaltal in Chitwan district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">While three of the passengers survived the incident, rescuers have recovered bodies of some other passengers from the river.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The ministry formed the study committee on July 14 under the coordination of Engineer Gyanendra Kumar Jha, chief of the Federal Road Supervision and Monitoring Office, Kathmandu, to submit a report within one week.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The committee submitted its report with suggestions to the ministry on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">An officer from the committee informed New Business Age that the accident happened due to a landslide that occurred during heavy rainfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Ramesh Prasad Paudel, divisional head of the Road Division in Bharatpur, said that the landslide began from a 650-metre stretch of road excavated by the Bharatpur Metropolitan City-29 office in Dumre village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"The landslide occurred from about 900 metres above. The ground itself is very sensitive with a steep slope," Paudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel also criticised local officials for continuing the road work despite multiple warnings to halt it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“A dozer was used in the construction of the road ignoring consideration for environmental impact assessment, design, or survey,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Surya Bahadur Gurung, ward chairman at Bharatpur Metropolitan City-29, said that the road was made above the Muglin-Narayangarh road section to connect the village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“It is said that the mud excavated during the construction got washed away during the rain and caused the accident, but in my observation the landslide was not so big to wash away the buses.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Gurung mentioned that the road has been under construction for the past 15 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“Though people have been blaming the road we built for the landslide, the Narayangarh-Mugling road has always been prone to landslides,” said Gurung.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Environmental Impact Assessment Report clearly states that the Narayangadh-Muglin road section was geographically weak even before its expansion, with chances of landslides occurring annually. The local road excavation further added to the risks of landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel said that vehicular movement along the road was blocked for 134 hours due to 36 landslides in a year from mid-April 2022 and for 124 hours due to 30 landslides in a year from mid-April 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“This year, there have been six landslides causing 19 hours of road blockage,” he added. “This incident marks the first human loss since mid-April 2022.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In the Public Roads Act, 2031, there is a provision to obtain permission from the Department of Roads to open an access road.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"We have not been able to stop the construction of access roads," said Sushil Babu Dhakal, spokesperson for the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Questions, however, have been raised about the geological condition of the road section and the ongoing construction activities around it after the Simaltal landslide.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Monika Jha, deputy director general and Spokesperson for the Department of Mines and Geology, said that there is always risk of landslides in the road section due to the presence of weak rocks as the section lies in the Chure area.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In 2008, the Japan International Cooperation Agency (JICA) conducted a study on landslides in the Narayangarh-Mugling section. Srikamal Dwivedi, a senior geologist who participated in the study, noted that any road construction, excavation, or hill cutting would increase the risk on this highway. "Landslides occurring on steep ground are a natural phenomenon," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21358', 'image' => '20240725103734_20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-25 10:36:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21631', 'article_category_id' => '1', 'title' => 'Government Forms Five-Member Committee to Probe Saurya Airlines Crash', 'sub_title' => 'The committee will submit a report in 45 days.', 'summary' => 'A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, JULY 25</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Pilot Manish Ratna Shakya remains the sole survivor in the crash at the Tribhuvan International Airport at 11:11 am on Wednesday. Shakya is receiving treatment at the Kathmandu Medical College in Sinamangal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The probe committee is led by Ratish Chandra Lal Suman, former director general at the Civil Aviation Authority of Nepal (CAAN), according to the Ministry of Culture, Tourism and Civil Aviation. Four other members include Deepu Jwarchan, Operation Director (Instructor Pilot) at Nepal Airlines; Sudip Bhattarai, head of the Mechanical and Aerospace Department at Pulchowk Campus; Sanjay Adhikari, aircraft maintenance engineer at Shree Airlines; and Mukesh Dangol, Air Traffic Control (ATC) Officer under the Ministry of Culture, Tourism and Civil Aviation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Dangol will serve in the committee as a member secretary.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The committee has been given a 45-days deadline to submit a report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration mark 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 (Koteshwar side) at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The plane had caught fire in the accident. Rescuers found 18–17 Nepalis and one Yemini citizen–of the 19 people onboard dead.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The bodies of the deceased were taken to the Tribhuvan University Teaching Hospital at Maharajgunj, Kathmandu for postmortem, which began late Wednesday evening.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21357', 'image' => '20240725093346_unnamed.jpg', 'article_date' => '2024-07-25 09:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21630', 'article_category_id' => '1', 'title' => 'Real Estate Transactions Come to a Standstill in Chitwan', 'sub_title' => '', 'summary' => 'With the economic downturn, real estate transactions in Chitwan have declined. According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 25: With the economic downturn, real estate transactions in Chitwan have declined. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Office, Bharatpur, 6,987 plots of land were bought and sold in the last fiscal year. In the previous fiscal year, the number of plots bought and sold was 7,468.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Although land transactions decreased in the last fiscal year compared to the previous one, the Land Revenue Office employees report that buying and selling have nearly come to a standstill in the past six months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Land Revenue Officer Tikaram Adhikari of the Bharatpur office, land transactions have been almost nonexistent in the last six months. "In my six years of working in Chitwan, I have never seen such a decline in land transactions," he said, attributing the drop to the economic downturn.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Madi, 1,181 plots were registered last fiscal year, down from 1,562 in the previous fiscal year. The office reports that the decline in land transactions has also led to a decrease in government revenue collection.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The office collected 32.2 million rupees in revenue from land transactions in the last fiscal year, down from 35.7 million rupees in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Khairahani, 1,736 plots were registered last fiscal year, compared to 1,804 plots in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, in the Land Revenue Office, Chanauli, land transactions have slightly increased. According to Chief Narhari Sapkota of the Chanauli office, 4,213 plots were registered last fiscal year, generating 463.9 million rupees in revenue. In the previous fiscal year, 3,953 plots were registered, generating 419.6 million rupees in revenue.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sixty percent of the revenue collected from service fees, registration fees, door facility fees, and late fees goes to the respective local government, while 40 percent goes to the provincial government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Real estate businessman Dinesh Kumar Chuke said that the land transactions appear higher in Chanauli due to cooperative in Kathmandu selling land to their shareholder members at cheap prices. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The cooperatives in Kathmandu have sold land to depositors at low prices, which has increased the transactions there. Since they couldn't return the savings, the cooperatives sold the land," he said, noting that overall real estate transactions in the district were stagnant last fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Chuke mentioned that stricter bank regulations on real estate investment, reduced use of remittance money for land transactions, and the economic downturn have led to the decline in real estate transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He analyzed that real estate transactions have decreased by about 70 percent since fiscal year 2076/77.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21356', 'image' => '20240725061643_collage (75).jpg', 'article_date' => '2024-07-25 06:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21629', 'article_category_id' => '1', 'title' => 'After Surging for Six Days in a Row, NEPSE Index Declines by 27.32 Points', 'sub_title' => 'The daily turnover exceeds Rs. 16.2 billion, highest in nearly three years, on Wednesday.', 'summary' => 'After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Earlier on August 19, 2021, the daily share turnover had exceeded Rs 20.4 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Market correction was observed on Wednesday as short-term traders booked profits in the rising market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Sensitive index, Float index and Sensitive Float index declined by 1.36%, 0.90% and 1.29% respectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Wednesday, more than 4 million units of shares of 311 companies were traded in 1,88,865 transactions. Two companies, Bottlers Nepal (Terai) Limited (BNT) and Asian Hydropower Limited (AHL), experienced a positive circuit break in their share values.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the share price of BNT reached Rs. 16,412 that of Asian Hydropower reached Rs. 689.90.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The share owners of Chirkhwa Hydropower Limited (CKHL) were the biggest losers of the day, with a 7.79% decline in the company’s share. Similarly, Super Madi Hydropower Limited (SMHL) saw its share price decline by 6.08% to Rs. 741.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 13 sub-indices, only two increased on Wednesday. While the finance sub-index surged by 1.16%, the trading sub-index declined by 3.09%.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21355', 'image' => '20240724093144_20230902090516_20230406055916_collage - 2023-04-03T173010.811.jpg', 'article_date' => '2024-07-24 21:30:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21628', 'article_category_id' => '1', 'title' => 'Saurya Airlines Plane Crash brings into Light Nepal’s Poor Air Safety Record', 'sub_title' => '18 people were killed on Wednesday after a Pokhara-bound plane crashed at the TIA shortly after takeoff.', 'summary' => 'KATHMANDU, JULY 24: The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span>: <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.</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:"Georgia","serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration number 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </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:"Georgia","serif"">The plane had caught fire after the accident.</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:"Georgia","serif"">Despite immediate rescue efforts, 18 of the 19 people onboard were found dead. Captain Manish Ratna Shakya, who had sustained injuries, was rescued and taken to the hospital, according to CAAN.</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:"Georgia","serif"">Among the dead, 17 were Nepalis and one Yemini national named Aref Reda.</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:"Georgia","serif"">The Nepali citizens who lost their lives were Amit Man Maharjan, Sagar Acharya, Dilip Verma, Manu Raj Sharma, Ashwin Niraula, Sudip Lal Joshi, Sarbesh Marasain, Shyam Bindukar, Nava Raj Ale, Raja Ram Acharya, Priza khatiwada, Adhiraj Sharma, Uddhab Puri, Yagya Prasad Poudyal, Santosh Mahato, Punya Ratna Shahi and Co-pilot Sushant Katuwal. </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:"Georgia","serif"">Most of them were the employees at Saurya Airlines and were heading towards Pokhara to carry out maintenance works, according to Police.</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:"Georgia","serif"">Wednesday's air accident occurred around a year after five members of a family from Mexico and a Nepali pilot were killed in a helicopter crash in Solukhumbu district on July 11 last year.</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:"Georgia","serif"">Earlier that, Nepal reported its deadliest aviation disaster in three decades on January 15, 2023 when a double engine ATR 72 plane operated by Yeti Airlines crashed near newly inaugurated international airport in Pokhara, killing all 72 onboard.</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:"Georgia","serif"">Similarly, a twin otter plane operated by Tara Air crashed on May 29, 2022 while it was heading to Jomsom from Pokhara, claiming the lives of 22 onboard. The plane had crashed about 15 minutes after take off. </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:"Georgia","serif"">The then Minister for Culture, Tourism and Civil Aviation Rabindra Adhikari was killed along with six others in a helicopter crash in Taplejung district on February 27, 2019.</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:"Georgia","serif"">Apart from Nepal’s difficult geography, many consider CAAN’s dual role–as a service provider and a regulator–as one of the major reasons hampering aviation safety in the country. </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:"Georgia","serif"">Nepal has recorded more than 100 air crashes in its aviation history with more than 900 people having lost their lives in such incidents since 1955, according to CAAN.</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:"Georgia","serif"">Poor safety records have tarnished Nepal’s reputation in the international aviation sector.</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:"Georgia","serif"">The European Union which first banned Nepali airlines from operating flights into the sky of the EU member countries in 2013, has continued the prohibition citing poor aviation safety record of Nepal.</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:"Georgia","serif"">Here is the timeline of Nepal's aviation disasters in the last decade.</span></span></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse; width:6.5in"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Date</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Crash</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 24, 2024</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Saurya Airlines, 18 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 11, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Manang Air helicopter, 6 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">January 15, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Yeti Air, 72 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">May 29, 2022</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 22 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 27, 2019</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Dynasty helicopter, 7 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">March 12, 2018</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">US-Bangla Airlines, 51 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 26, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Kasthamandap Airlines, 2 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 24, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 23 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 16, 2014 </span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Nepal Airlines, 18</span></span></span></span></p> </td> </tr> </tbody> </table> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21354', 'image' => '20240724070148_unnamed.jpg', 'article_date' => '2024-07-24 19:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21627', 'article_category_id' => '1', 'title' => '18 Dead, Pilot Survives as Saurya Airlines Plane Crashes at TIA during Takeoff (with namelist)', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, CAAN said that the Bombardier CRJ200 aircraft with call sign 9N-AME veered off the runway shortly after takeoff and crashed to the east side of the runway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident happened soon after takeoff at 11.11 am. The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the pilots survived the crash. The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The pilot has injuries to his eyes but his life is not in any danger,” the Associated Press reported quoting a doctor at Kathmandu Medical College.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA was briefly halted as a result of the accident.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to list of casualties published by CAAN, the victims are:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Co-Pilot Sushant Katuwal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Priza Khatiwada</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amit Man Maharjan</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagar Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dilip Verma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manu Raj Sharma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashwin Niraula</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudip Lal Joshi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sarbesh Marasini</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shyam Bindukar</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nava Raj Ale</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Raja Ram Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Uddhab Puri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yagya Prasad Poudyal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Santosh Mahato</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Punya Ratna Saahi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Adhiraj Sharma (child) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aref Reda (Yemeni citizen)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21353', 'image' => '20240724032114_9d95161c.jpeg', 'article_date' => '2024-07-24 15:20:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21626', 'article_category_id' => '1', 'title' => 'Tribhuvan International Airport Resumes Operations', 'sub_title' => '', 'summary' => 'KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash. The incident occurred at 11:11 AM on Wednesday involving Saurya Airlines flight 9N-AME (CRJ 200).</span><br /> <br /> The Civil Aviation Authority of Nepal confirmed that 18 people lost their lives in the accident. The captain of the plane, 37-year-old Manish Shakya, survived but is injured and receiving treatment at KMC Hospital.<br /> <br /> A Bhutan Air flight, which had been held in the sky, has safely landed following the reopening of the airport.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21352', 'image' => '20240724023623_2009-03_Kathmandu_10.jpg', 'article_date' => '2024-07-24 14:35:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21622', 'article_category_id' => '1', 'title' => '18 Dead as Saurya Airlines Plane en route to Pokhara Crashes at TIA during Takeoff', 'sub_title' => 'Pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at Kathmandu Medical College', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). The accident happened at around 11 am. One of the pilots survived the crash.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane crashed east of runway 20 while taking off from Runway 02.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA have been disrupted as a result of the accident.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21351', 'image' => '20240724013038_80581170.jpeg', 'article_date' => '2024-07-24 13:28:55', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21621', 'article_category_id' => '1', 'title' => 'Eighteen Killed in Plane Crash at TIA (Update)', 'sub_title' => '', 'summary' => 'KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident occurred as the plane skidded off the runway during takeoff. The aircraft fell into a base of a slope to the eastern side of the Tribhuvan International Airport’s runway and caught fire.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Senior Superintendent of Police Dambar BK informed the state-owned RSS that the bodies of 18 people on the plane were collected while they were scattered around the accident site. He said that preparations are now being made to take the collected bodies to the Tribhuvan University Teaching Hospital for post mortem. According to Superintendent of Police BK, one of the crew members of the plane was rescued alive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Captain MR Shakya has been rushed to hospital.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane was heading to Pokhara with employees and technicians to repair another aircraft of Saurya Air. Domestic flights have been affected at the airport due to the crash.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21350', 'image' => '20240724125958_9d95161c.jpeg', 'article_date' => '2024-07-24 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21619', 'article_category_id' => '1', 'title' => 'India’s Decision to Reduce Customs Duty on Gold Imports Likely to Fuel Smuggling in Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly. The reduction has made gold and silver much cheaper in India compared to Nepal, compelling the Government of Nepal to consider following New Delhi’s example.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Presenting the budget for the next fiscal year, Indian Finance Minister Nirmala Sitharaman reduced the customs duty on gold and silver imports from 15 percent to 6 percent. Conversely, the Government of Nepal announced the budget for FY 2024/25 on May 28 and increased the customs duty on gold imports from 15 percent to 20 percent. Currently, importing gold in Nepal incurs a 20 percent customs duty, while importing silver incurs a 15 percent customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal's policy aims to increase the price of gold jewelry by raising the customs duty on gold imports, whereas India aims to reduce the price of gold and silver jewelry by lowering the customs duty. Gold and silver traders claim this disparity has heightened the risk of unauthorized imports through the open border.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Previously, the Indian government had increased the customs duty on gold and silver imports on January 22, raising it from 10 percent to 15 percent due to a trade deficit caused by high rates of gold imports. Six months later, they reduced the duty by 9 percentage points.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mani Ratna Shakya, founding president of the Nepal Gold and Silver Dealers Federation, states that India's latest policy necessitates an immediate reduction in Nepal's customs duties. According to him, after India's reduction, raw gold will be cheaper in India by more than Rs 12,000 per tola (11.66 grams) and silver by more than Rs 200 per tola compared to Nepal. "Nepali customers will definitely be attracted to India when cheap gold and silver are available there," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Teja Ratna Shakya, former president of the federation, mentions that Nepal has failed to adjust customs duties on gold and silver in a timely manner. "There is a problem because there is no change in policy," Shakya told New Business Age, "The tax should not have been increased in the recently-announced budget."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He indicated that due to the increase in customs duty, silver is being smuggled from India to Nepal. Shakya said that the federation will urge the Finance Minister to reduce the customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Shakya, the tariff rate on gold and silver imports should be stabilized. "If we want to protect the Nepali market, a 10 percent customs duty should be imposed per 10 grams," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tax expert Dr. Chandramani Adhikari believes India's reduction in the tax on gold and silver aims to control smuggling from China through Nepal. "Demand was increasing in India and therefore gold was being smuggled. So they tried to control it by reducing tariff," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He asserts that if India reduces the customs duty on gold and silver, smuggling from various countries through Nepal to India will decrease. Since India is a large market, a substantial amount of Nepalese foreign currency is spent when smuggling occurs. Nepal Rastra Bank suspects that smugglers are using remittances sent by Nepalis abroad to buy gold, which is then smuggled to India. The central bank has previously attributed the decline in Nepal's foreign exchange reserves to gold smuggling and high imports. Consequently, the government banned the import of certain items and imposed restrictions on gold imports two years ago.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gold and silver traders argue that when gold is expensive, domestic customers may go to India to buy jewelry, potentially drying up the business in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, gold was traded at Rs 146,300 per tola on Tuesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Customs reports that gold worth Rs 23.65 billion was imported into Nepal in the last fiscal year, FY 2023/24. Economists warn that since prices in India are lower than in Nepal, there is a risk of gold smuggling from India. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">An economist stated that the government should be vigilant in monitoring and controlling smuggling. Tax experts emphasize that the Ministry of Finance and the central bank should take appropriate measures after a detailed study of the differences in customs duties between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of the Revenue Division of the Ministry of Finance indicated that a study on the customs duties reduced by India and the rates charged in Nepal has been prepared. "After the study, the customs duty rate may be revised," said the official, adding that the Ministry of Finance plans to discuss immediate options with businessmen soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21348', 'image' => '20240724122937_cd5483b7.jpeg', 'article_date' => '2024-07-24 12:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21623', 'article_category_id' => '1', 'title' => 'Tariff Dispute: Industrialists Refuse to Pay Dues Despite Resumption of Electricity Supply', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. However, the industrialists have not shown signs of accepting the NEA’s conditions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Following Prime Minister KP Sharma Oli's verbal and written instructions to the Electricity Regulatory Commission, the board of directors' meeting held on Tuesday decided to reconnect the power lines with specific conditions. The board decided that if the industrialists did not pay the arrears within three months, action would be taken to recover the dues. The power lines were restored at 8 pm on Tuesday, according to Deputy Executive Director Manoj Silwal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, the industrialists are unwilling to pay the fees according to the conditions set by the NEA. They have stated they will only pay the dues if the NEA provides bills with sufficient evidence that the industries consumed electricity from dedicated feeders and trunk lines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We have never said that we will not pay the arrears. However, the NEA should be able to submit the bill based on sufficient evidence," Pashupati Murarka, the owner of Arghakhanchi Cement, told New Business Age. He expressed surprise that the NEA is unwilling to provide the evidence.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Officials of the NEA claim that in addition to TOD meter data, they have other sufficient evidence. TOD meters record electricity consumption details during the day, month, and year. However, since the NEA could not protect this evidence, it has been challenging to provide sufficient proof. The NEA sent letters to 61 industries on June 24, demanding the dues for the period from January 2015 to April 2018 within 15 days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As none of the industrialists settled the arrears by July 9, the NEA cut the electricity lines of Reliance Spinning Mills, Ghorahi Cement, and Arghakhanchi Cement on July 9. The next day, the NEA cut the lines of Jagdamba Synthetic followed by Hulas Steel and Jagdamba Steel on July 11.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the NEA, the industrialists owe Rs 6.65 billion in addition to a 25 per cent fine, amounting to about Rs 8.25 billion. Initially, the NEA had calculated that industrialists who consumed electricity from the dedicated feeder and trunk line owed Rs 21.3 billion. However, the arrears were revised after taking into consideration the recommendation of a commission formed by the government to address the dispute.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Specifically, Jagdamba Steel owes Rs 1.60 billion, Jagdamba Synthetic Rs 200 million, Reliance Spinning Mills Rs 753.7 million, Ghorahi Cement Rs 510 million, Arghakhanchi Cement Rs 440 million, and Hulas Steel Rs 140 million.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">An official of the Ministry of Energy, Water Resources and Irrigation stated that the decision to reconnect the lines was made after five out of eight board members signed the minute prepared by the executive director of the NEA, Kulman Ghising, following the meeting on Tuesday. Despite holding two meetings earlier on Monday, the decision to reconnect the lines could not be finalized.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The minutes prepared by Ghising were signed by the Energy Minister and Chairman of the Board of Directors Deepak Khadka, Managing Director and Member Secretary Ghising, and Committee members Ram Prasad Ghimire, Sarita Dawadi, and Ratan Bahadur Aire. Another member, Bharat Acharya, is out of Kathmandu and will sign the minutes upon his return, according to the source.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"Members Bhakta Bahadur Pun and Kapil Acharya refused to sign the proposal to reconnect the line," said the source. They argued that the line should not be reconnected based on the instructions given by the Regulatory Commission. "Since the line was cut based on the decision of the Council of Ministers, they believe that a decision from the Council of Ministers is required to reconnect it," the member explained.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21347', 'image' => '20240724015805_1705202780.transformor-line-bijuli.jpg', 'article_date' => '2024-07-24 13:57:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21620', 'article_category_id' => '1', 'title' => 'Saurya Air Plane Crashes at TIA ', 'sub_title' => '', 'summary' => 'KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aircraft carrying 19 passengers including crew members skidded off the runway and caught fire. According to preliminary reports, eighteen passengers have reportedly died while the captain MR Shakya has been rushed to hospital </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Security personnel of all three security agencies were mobilized to douse the fire, said Gaurav Kumar KC, Spokesperson for the Nepalese Army. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Home Affairs Ramesh Lekhak has reached the Airport to take stock of the accident. – With inputs from RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21345', 'image' => '20240724123824_saurya-airlines48.jpg', 'article_date' => '2024-07-24 12:37:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21618', 'article_category_id' => '1', 'title' => 'Finance Ministry Identifies 46 Challenges of Nepal's Economy', 'sub_title' => '', 'summary' => 'KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues. "Mainly, there are 46 challenges in Nepal's economy, according to the observation of the Finance Ministry. Steps are required in 29 sectors to overcome these challenges," stated a press note issued by the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's secretaries and joint secretaries provided the minister with an overview of the country's economic status and proposed solutions. In response, Minister Poudel directed prioritizing these challenges to resolve them effectively.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Key challenges identified by the ministry officials include the slow growth rate in the economic sector compared to available resources, limited growth in savings, consumption, and investment, poor investment in the productive sector, and a significant gap in the import-export ratio. Additionally, unstable and slow economic growth, a substantial financing gap, limited gross domestic savings, and massive internal migration leading to a decreasing population trend in mountain, hill, and rural areas were highlighted as major issues.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also pointed out the limited contribution of the productive sector to economic growth, low productivity, and the declining trend of the industrial sector's contributions to the economy. Furthermore, the officials highlighted challenges such as an import-based revenue system, poor export status, a massive trade deficit, marginal growth in revenue collection and expenditure, ineffectiveness in capital expenditure, rising debts, and substantial financial liability for loan repayment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">To address these challenges, the ministry suggested reforms in 29 sectors. These reforms should focus on ensuring effective public expenditure with prioritization, improving capacity to increase capital expenditure, emphasizing fiscal strengthening, prioritizing production-based revenue, promoting effective use of debts, reducing financing risks, boosting economic growth by creating a conducive environment for investment, and investing more in the productive sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also proposed ideas for revitalizing the economy amid ongoing slowdown. These include removing internal obstacles to attract foreign direct investment (FDI), stressing the construction of hydropower projects and transmission lines, developing quality road networks, aligning rural roads with agricultural production and marketing, promoting the effectiveness of capital expenditure, and applying austerity measures in administrative costs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Additionally, the ministry recommended focusing government investment on infrastructure development, mobilizing foreign grants and concessional loans for national priority projects, and using funds related to climate change effectively. Other suggested measures include maintaining the government's reserve fund, discouraging non-budgetary demands, ensuring loan disbursement in the productive sector, and controlling bad debts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's officials also called for applying relaxed monetary tools to reduce the costs of fiscal tools while maintaining stability, providing project-based loans for SMEs, ensuring effective regulations of the fiscal sector, and developing a second-layer regulatory mechanism for the cooperative sector. Encouraging the use of remittance in the productive sector and implementing policy and legal reforms to increase the inflow of foreign investment were also among the proposed solutions. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21344', 'image' => '20240724114026_20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-07-24 11:39:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21617', 'article_category_id' => '1', 'title' => 'India Pledges Grant of Rs 11.20 Billion to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal. India’s Finance Minister Nirmala Sitharaman mentioned in the annual budget presented in the parliament on Tuesday that India will provide the aforementioned grant to Nepal in the fiscal year 2024-25. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This amount is INR 500 million (Rs 800 million) more than the revised estimate of the last fiscal year 2023-24. India had pledged to provide INR 6.50 billion (NRS 10.40 billion) to Nepal in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's grant to Bhutan is the highest, with a grant of INR 26.80 billion. Similarly, the budget mentions that India will provide grants of INR 5 billion to Mongolia, INR 4 billion to the Maldives, INR 2.5 billion to Myanmar, INR 2.45 billion to Sri Lanka, INR 2 billion to Afghanistan, INR 1.2 billion to Bangladesh, and INR 2 billion to African countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21343', 'image' => '20240724103002_20240107105700_Fl_600x600.jpg', 'article_date' => '2024-07-24 10:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$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' => '21633', 'article_category_id' => '1', 'title' => 'July 22 Sets New Record for Hottest Day Globally: EU Climate Monitor', 'sub_title' => '', 'summary' => 'PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. Preliminary data from the Copernicus Climate Change Service (C3S) showed the daily global average temperature was 17.15 degrees Celsius (62.9 degrees Fahrenheit) on Monday, the warmest day in records going back to 1940. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This was 0.06C hotter than the day before on July 21, which itself broke by a small margin the all-time high temperature set a year earlier. Copernicus, which uses satellite data to update global air and sea temperatures close to real time, said its figures were provisional and final values may differ very slightly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The monitor had anticipated daily records would be exceeded as summer peaks in the northern hemisphere, and the planet endures a particularly long streak of extreme global heat driven by human-caused climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"This is exactly what climate science told us would happen if the world continued burning coal, oil and gas," said Joyce Kimutai, a climate scientist from Imperial College London, on Wednesday. "And it will continue getting hotter until we stop burning fossil fuels and reach net zero emissions." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Every month since June 2023 has eclipsed its own temperature record compared to the same month in previous years, an unprecedented 13-month streak C3S director Carlo Buontempo on Tuesday called "truly staggering". </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Climate change is causing longer, stronger and more frequent extreme weather events like heatwaves and floods, and this year has been marked by major disasters across the globe.</span> – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21359', 'image' => '20240725120200_20230604125858_global-warming.jpg', 'article_date' => '2024-07-25 12:01:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21632', 'article_category_id' => '1', 'title' => 'Simaltal Landslide caused by Unplanned Local Road Excavation: Study Report', 'sub_title' => 'Rescuers are yet to find all the missing passengers of the two buses swept away by landslide on July 12.', 'summary' => 'KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hima BK</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The report by the study committee concludes that stones and debris from the poorly planned local road caused the landslide. The finding aligns with longstanding warnings from the Department of Roads and experts about the heightened risks from the poorly built roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">A landslide swept away two buses with 65 people onboard, including the drivers, into the raging Trishuli River early morning on July 12 at Simaltal in Chitwan district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">While three of the passengers survived the incident, rescuers have recovered bodies of some other passengers from the river.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The ministry formed the study committee on July 14 under the coordination of Engineer Gyanendra Kumar Jha, chief of the Federal Road Supervision and Monitoring Office, Kathmandu, to submit a report within one week.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The committee submitted its report with suggestions to the ministry on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">An officer from the committee informed New Business Age that the accident happened due to a landslide that occurred during heavy rainfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Ramesh Prasad Paudel, divisional head of the Road Division in Bharatpur, said that the landslide began from a 650-metre stretch of road excavated by the Bharatpur Metropolitan City-29 office in Dumre village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"The landslide occurred from about 900 metres above. The ground itself is very sensitive with a steep slope," Paudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel also criticised local officials for continuing the road work despite multiple warnings to halt it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“A dozer was used in the construction of the road ignoring consideration for environmental impact assessment, design, or survey,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Surya Bahadur Gurung, ward chairman at Bharatpur Metropolitan City-29, said that the road was made above the Muglin-Narayangarh road section to connect the village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“It is said that the mud excavated during the construction got washed away during the rain and caused the accident, but in my observation the landslide was not so big to wash away the buses.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Gurung mentioned that the road has been under construction for the past 15 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“Though people have been blaming the road we built for the landslide, the Narayangarh-Mugling road has always been prone to landslides,” said Gurung.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Environmental Impact Assessment Report clearly states that the Narayangadh-Muglin road section was geographically weak even before its expansion, with chances of landslides occurring annually. The local road excavation further added to the risks of landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel said that vehicular movement along the road was blocked for 134 hours due to 36 landslides in a year from mid-April 2022 and for 124 hours due to 30 landslides in a year from mid-April 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“This year, there have been six landslides causing 19 hours of road blockage,” he added. “This incident marks the first human loss since mid-April 2022.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In the Public Roads Act, 2031, there is a provision to obtain permission from the Department of Roads to open an access road.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"We have not been able to stop the construction of access roads," said Sushil Babu Dhakal, spokesperson for the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Questions, however, have been raised about the geological condition of the road section and the ongoing construction activities around it after the Simaltal landslide.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Monika Jha, deputy director general and Spokesperson for the Department of Mines and Geology, said that there is always risk of landslides in the road section due to the presence of weak rocks as the section lies in the Chure area.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In 2008, the Japan International Cooperation Agency (JICA) conducted a study on landslides in the Narayangarh-Mugling section. Srikamal Dwivedi, a senior geologist who participated in the study, noted that any road construction, excavation, or hill cutting would increase the risk on this highway. "Landslides occurring on steep ground are a natural phenomenon," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21358', 'image' => '20240725103734_20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-25 10:36:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21631', 'article_category_id' => '1', 'title' => 'Government Forms Five-Member Committee to Probe Saurya Airlines Crash', 'sub_title' => 'The committee will submit a report in 45 days.', 'summary' => 'A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, JULY 25</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Pilot Manish Ratna Shakya remains the sole survivor in the crash at the Tribhuvan International Airport at 11:11 am on Wednesday. Shakya is receiving treatment at the Kathmandu Medical College in Sinamangal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The probe committee is led by Ratish Chandra Lal Suman, former director general at the Civil Aviation Authority of Nepal (CAAN), according to the Ministry of Culture, Tourism and Civil Aviation. Four other members include Deepu Jwarchan, Operation Director (Instructor Pilot) at Nepal Airlines; Sudip Bhattarai, head of the Mechanical and Aerospace Department at Pulchowk Campus; Sanjay Adhikari, aircraft maintenance engineer at Shree Airlines; and Mukesh Dangol, Air Traffic Control (ATC) Officer under the Ministry of Culture, Tourism and Civil Aviation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Dangol will serve in the committee as a member secretary.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The committee has been given a 45-days deadline to submit a report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration mark 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 (Koteshwar side) at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The plane had caught fire in the accident. Rescuers found 18–17 Nepalis and one Yemini citizen–of the 19 people onboard dead.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The bodies of the deceased were taken to the Tribhuvan University Teaching Hospital at Maharajgunj, Kathmandu for postmortem, which began late Wednesday evening.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21357', 'image' => '20240725093346_unnamed.jpg', 'article_date' => '2024-07-25 09:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21630', 'article_category_id' => '1', 'title' => 'Real Estate Transactions Come to a Standstill in Chitwan', 'sub_title' => '', 'summary' => 'With the economic downturn, real estate transactions in Chitwan have declined. According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 25: With the economic downturn, real estate transactions in Chitwan have declined. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Office, Bharatpur, 6,987 plots of land were bought and sold in the last fiscal year. In the previous fiscal year, the number of plots bought and sold was 7,468.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Although land transactions decreased in the last fiscal year compared to the previous one, the Land Revenue Office employees report that buying and selling have nearly come to a standstill in the past six months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Land Revenue Officer Tikaram Adhikari of the Bharatpur office, land transactions have been almost nonexistent in the last six months. "In my six years of working in Chitwan, I have never seen such a decline in land transactions," he said, attributing the drop to the economic downturn.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Madi, 1,181 plots were registered last fiscal year, down from 1,562 in the previous fiscal year. The office reports that the decline in land transactions has also led to a decrease in government revenue collection.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The office collected 32.2 million rupees in revenue from land transactions in the last fiscal year, down from 35.7 million rupees in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Khairahani, 1,736 plots were registered last fiscal year, compared to 1,804 plots in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, in the Land Revenue Office, Chanauli, land transactions have slightly increased. According to Chief Narhari Sapkota of the Chanauli office, 4,213 plots were registered last fiscal year, generating 463.9 million rupees in revenue. In the previous fiscal year, 3,953 plots were registered, generating 419.6 million rupees in revenue.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sixty percent of the revenue collected from service fees, registration fees, door facility fees, and late fees goes to the respective local government, while 40 percent goes to the provincial government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Real estate businessman Dinesh Kumar Chuke said that the land transactions appear higher in Chanauli due to cooperative in Kathmandu selling land to their shareholder members at cheap prices. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The cooperatives in Kathmandu have sold land to depositors at low prices, which has increased the transactions there. Since they couldn't return the savings, the cooperatives sold the land," he said, noting that overall real estate transactions in the district were stagnant last fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Chuke mentioned that stricter bank regulations on real estate investment, reduced use of remittance money for land transactions, and the economic downturn have led to the decline in real estate transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He analyzed that real estate transactions have decreased by about 70 percent since fiscal year 2076/77.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21356', 'image' => '20240725061643_collage (75).jpg', 'article_date' => '2024-07-25 06:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21629', 'article_category_id' => '1', 'title' => 'After Surging for Six Days in a Row, NEPSE Index Declines by 27.32 Points', 'sub_title' => 'The daily turnover exceeds Rs. 16.2 billion, highest in nearly three years, on Wednesday.', 'summary' => 'After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Earlier on August 19, 2021, the daily share turnover had exceeded Rs 20.4 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Market correction was observed on Wednesday as short-term traders booked profits in the rising market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Sensitive index, Float index and Sensitive Float index declined by 1.36%, 0.90% and 1.29% respectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Wednesday, more than 4 million units of shares of 311 companies were traded in 1,88,865 transactions. Two companies, Bottlers Nepal (Terai) Limited (BNT) and Asian Hydropower Limited (AHL), experienced a positive circuit break in their share values.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the share price of BNT reached Rs. 16,412 that of Asian Hydropower reached Rs. 689.90.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The share owners of Chirkhwa Hydropower Limited (CKHL) were the biggest losers of the day, with a 7.79% decline in the company’s share. Similarly, Super Madi Hydropower Limited (SMHL) saw its share price decline by 6.08% to Rs. 741.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 13 sub-indices, only two increased on Wednesday. While the finance sub-index surged by 1.16%, the trading sub-index declined by 3.09%.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21355', 'image' => '20240724093144_20230902090516_20230406055916_collage - 2023-04-03T173010.811.jpg', 'article_date' => '2024-07-24 21:30:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21628', 'article_category_id' => '1', 'title' => 'Saurya Airlines Plane Crash brings into Light Nepal’s Poor Air Safety Record', 'sub_title' => '18 people were killed on Wednesday after a Pokhara-bound plane crashed at the TIA shortly after takeoff.', 'summary' => 'KATHMANDU, JULY 24: The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span>: <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.</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:"Georgia","serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration number 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </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:"Georgia","serif"">The plane had caught fire after the accident.</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:"Georgia","serif"">Despite immediate rescue efforts, 18 of the 19 people onboard were found dead. Captain Manish Ratna Shakya, who had sustained injuries, was rescued and taken to the hospital, according to CAAN.</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:"Georgia","serif"">Among the dead, 17 were Nepalis and one Yemini national named Aref Reda.</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:"Georgia","serif"">The Nepali citizens who lost their lives were Amit Man Maharjan, Sagar Acharya, Dilip Verma, Manu Raj Sharma, Ashwin Niraula, Sudip Lal Joshi, Sarbesh Marasain, Shyam Bindukar, Nava Raj Ale, Raja Ram Acharya, Priza khatiwada, Adhiraj Sharma, Uddhab Puri, Yagya Prasad Poudyal, Santosh Mahato, Punya Ratna Shahi and Co-pilot Sushant Katuwal. </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:"Georgia","serif"">Most of them were the employees at Saurya Airlines and were heading towards Pokhara to carry out maintenance works, according to Police.</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:"Georgia","serif"">Wednesday's air accident occurred around a year after five members of a family from Mexico and a Nepali pilot were killed in a helicopter crash in Solukhumbu district on July 11 last year.</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:"Georgia","serif"">Earlier that, Nepal reported its deadliest aviation disaster in three decades on January 15, 2023 when a double engine ATR 72 plane operated by Yeti Airlines crashed near newly inaugurated international airport in Pokhara, killing all 72 onboard.</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:"Georgia","serif"">Similarly, a twin otter plane operated by Tara Air crashed on May 29, 2022 while it was heading to Jomsom from Pokhara, claiming the lives of 22 onboard. The plane had crashed about 15 minutes after take off. </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:"Georgia","serif"">The then Minister for Culture, Tourism and Civil Aviation Rabindra Adhikari was killed along with six others in a helicopter crash in Taplejung district on February 27, 2019.</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:"Georgia","serif"">Apart from Nepal’s difficult geography, many consider CAAN’s dual role–as a service provider and a regulator–as one of the major reasons hampering aviation safety in the country. </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:"Georgia","serif"">Nepal has recorded more than 100 air crashes in its aviation history with more than 900 people having lost their lives in such incidents since 1955, according to CAAN.</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:"Georgia","serif"">Poor safety records have tarnished Nepal’s reputation in the international aviation sector.</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:"Georgia","serif"">The European Union which first banned Nepali airlines from operating flights into the sky of the EU member countries in 2013, has continued the prohibition citing poor aviation safety record of Nepal.</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:"Georgia","serif"">Here is the timeline of Nepal's aviation disasters in the last decade.</span></span></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse; width:6.5in"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Date</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Crash</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 24, 2024</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Saurya Airlines, 18 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 11, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Manang Air helicopter, 6 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">January 15, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Yeti Air, 72 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">May 29, 2022</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 22 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 27, 2019</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Dynasty helicopter, 7 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">March 12, 2018</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">US-Bangla Airlines, 51 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 26, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Kasthamandap Airlines, 2 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 24, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 23 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 16, 2014 </span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Nepal Airlines, 18</span></span></span></span></p> </td> </tr> </tbody> </table> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21354', 'image' => '20240724070148_unnamed.jpg', 'article_date' => '2024-07-24 19:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21627', 'article_category_id' => '1', 'title' => '18 Dead, Pilot Survives as Saurya Airlines Plane Crashes at TIA during Takeoff (with namelist)', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, CAAN said that the Bombardier CRJ200 aircraft with call sign 9N-AME veered off the runway shortly after takeoff and crashed to the east side of the runway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident happened soon after takeoff at 11.11 am. The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the pilots survived the crash. The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The pilot has injuries to his eyes but his life is not in any danger,” the Associated Press reported quoting a doctor at Kathmandu Medical College.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA was briefly halted as a result of the accident.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to list of casualties published by CAAN, the victims are:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Co-Pilot Sushant Katuwal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Priza Khatiwada</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amit Man Maharjan</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagar Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dilip Verma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manu Raj Sharma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashwin Niraula</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudip Lal Joshi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sarbesh Marasini</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shyam Bindukar</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nava Raj Ale</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Raja Ram Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Uddhab Puri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yagya Prasad Poudyal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Santosh Mahato</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Punya Ratna Saahi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Adhiraj Sharma (child) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aref Reda (Yemeni citizen)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21353', 'image' => '20240724032114_9d95161c.jpeg', 'article_date' => '2024-07-24 15:20:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21626', 'article_category_id' => '1', 'title' => 'Tribhuvan International Airport Resumes Operations', 'sub_title' => '', 'summary' => 'KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash. The incident occurred at 11:11 AM on Wednesday involving Saurya Airlines flight 9N-AME (CRJ 200).</span><br /> <br /> The Civil Aviation Authority of Nepal confirmed that 18 people lost their lives in the accident. The captain of the plane, 37-year-old Manish Shakya, survived but is injured and receiving treatment at KMC Hospital.<br /> <br /> A Bhutan Air flight, which had been held in the sky, has safely landed following the reopening of the airport.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21352', 'image' => '20240724023623_2009-03_Kathmandu_10.jpg', 'article_date' => '2024-07-24 14:35:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21622', 'article_category_id' => '1', 'title' => '18 Dead as Saurya Airlines Plane en route to Pokhara Crashes at TIA during Takeoff', 'sub_title' => 'Pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at Kathmandu Medical College', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). The accident happened at around 11 am. One of the pilots survived the crash.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane crashed east of runway 20 while taking off from Runway 02.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA have been disrupted as a result of the accident.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21351', 'image' => '20240724013038_80581170.jpeg', 'article_date' => '2024-07-24 13:28:55', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21621', 'article_category_id' => '1', 'title' => 'Eighteen Killed in Plane Crash at TIA (Update)', 'sub_title' => '', 'summary' => 'KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident occurred as the plane skidded off the runway during takeoff. The aircraft fell into a base of a slope to the eastern side of the Tribhuvan International Airport’s runway and caught fire.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Senior Superintendent of Police Dambar BK informed the state-owned RSS that the bodies of 18 people on the plane were collected while they were scattered around the accident site. He said that preparations are now being made to take the collected bodies to the Tribhuvan University Teaching Hospital for post mortem. According to Superintendent of Police BK, one of the crew members of the plane was rescued alive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Captain MR Shakya has been rushed to hospital.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane was heading to Pokhara with employees and technicians to repair another aircraft of Saurya Air. Domestic flights have been affected at the airport due to the crash.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21350', 'image' => '20240724125958_9d95161c.jpeg', 'article_date' => '2024-07-24 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21619', 'article_category_id' => '1', 'title' => 'India’s Decision to Reduce Customs Duty on Gold Imports Likely to Fuel Smuggling in Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly. The reduction has made gold and silver much cheaper in India compared to Nepal, compelling the Government of Nepal to consider following New Delhi’s example.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Presenting the budget for the next fiscal year, Indian Finance Minister Nirmala Sitharaman reduced the customs duty on gold and silver imports from 15 percent to 6 percent. Conversely, the Government of Nepal announced the budget for FY 2024/25 on May 28 and increased the customs duty on gold imports from 15 percent to 20 percent. Currently, importing gold in Nepal incurs a 20 percent customs duty, while importing silver incurs a 15 percent customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal's policy aims to increase the price of gold jewelry by raising the customs duty on gold imports, whereas India aims to reduce the price of gold and silver jewelry by lowering the customs duty. Gold and silver traders claim this disparity has heightened the risk of unauthorized imports through the open border.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Previously, the Indian government had increased the customs duty on gold and silver imports on January 22, raising it from 10 percent to 15 percent due to a trade deficit caused by high rates of gold imports. Six months later, they reduced the duty by 9 percentage points.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mani Ratna Shakya, founding president of the Nepal Gold and Silver Dealers Federation, states that India's latest policy necessitates an immediate reduction in Nepal's customs duties. According to him, after India's reduction, raw gold will be cheaper in India by more than Rs 12,000 per tola (11.66 grams) and silver by more than Rs 200 per tola compared to Nepal. "Nepali customers will definitely be attracted to India when cheap gold and silver are available there," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Teja Ratna Shakya, former president of the federation, mentions that Nepal has failed to adjust customs duties on gold and silver in a timely manner. "There is a problem because there is no change in policy," Shakya told New Business Age, "The tax should not have been increased in the recently-announced budget."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He indicated that due to the increase in customs duty, silver is being smuggled from India to Nepal. Shakya said that the federation will urge the Finance Minister to reduce the customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Shakya, the tariff rate on gold and silver imports should be stabilized. "If we want to protect the Nepali market, a 10 percent customs duty should be imposed per 10 grams," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tax expert Dr. Chandramani Adhikari believes India's reduction in the tax on gold and silver aims to control smuggling from China through Nepal. "Demand was increasing in India and therefore gold was being smuggled. So they tried to control it by reducing tariff," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He asserts that if India reduces the customs duty on gold and silver, smuggling from various countries through Nepal to India will decrease. Since India is a large market, a substantial amount of Nepalese foreign currency is spent when smuggling occurs. Nepal Rastra Bank suspects that smugglers are using remittances sent by Nepalis abroad to buy gold, which is then smuggled to India. The central bank has previously attributed the decline in Nepal's foreign exchange reserves to gold smuggling and high imports. Consequently, the government banned the import of certain items and imposed restrictions on gold imports two years ago.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gold and silver traders argue that when gold is expensive, domestic customers may go to India to buy jewelry, potentially drying up the business in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, gold was traded at Rs 146,300 per tola on Tuesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Customs reports that gold worth Rs 23.65 billion was imported into Nepal in the last fiscal year, FY 2023/24. Economists warn that since prices in India are lower than in Nepal, there is a risk of gold smuggling from India. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">An economist stated that the government should be vigilant in monitoring and controlling smuggling. Tax experts emphasize that the Ministry of Finance and the central bank should take appropriate measures after a detailed study of the differences in customs duties between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of the Revenue Division of the Ministry of Finance indicated that a study on the customs duties reduced by India and the rates charged in Nepal has been prepared. "After the study, the customs duty rate may be revised," said the official, adding that the Ministry of Finance plans to discuss immediate options with businessmen soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21348', 'image' => '20240724122937_cd5483b7.jpeg', 'article_date' => '2024-07-24 12:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21623', 'article_category_id' => '1', 'title' => 'Tariff Dispute: Industrialists Refuse to Pay Dues Despite Resumption of Electricity Supply', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. However, the industrialists have not shown signs of accepting the NEA’s conditions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Following Prime Minister KP Sharma Oli's verbal and written instructions to the Electricity Regulatory Commission, the board of directors' meeting held on Tuesday decided to reconnect the power lines with specific conditions. The board decided that if the industrialists did not pay the arrears within three months, action would be taken to recover the dues. The power lines were restored at 8 pm on Tuesday, according to Deputy Executive Director Manoj Silwal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, the industrialists are unwilling to pay the fees according to the conditions set by the NEA. They have stated they will only pay the dues if the NEA provides bills with sufficient evidence that the industries consumed electricity from dedicated feeders and trunk lines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We have never said that we will not pay the arrears. However, the NEA should be able to submit the bill based on sufficient evidence," Pashupati Murarka, the owner of Arghakhanchi Cement, told New Business Age. He expressed surprise that the NEA is unwilling to provide the evidence.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Officials of the NEA claim that in addition to TOD meter data, they have other sufficient evidence. TOD meters record electricity consumption details during the day, month, and year. However, since the NEA could not protect this evidence, it has been challenging to provide sufficient proof. The NEA sent letters to 61 industries on June 24, demanding the dues for the period from January 2015 to April 2018 within 15 days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As none of the industrialists settled the arrears by July 9, the NEA cut the electricity lines of Reliance Spinning Mills, Ghorahi Cement, and Arghakhanchi Cement on July 9. The next day, the NEA cut the lines of Jagdamba Synthetic followed by Hulas Steel and Jagdamba Steel on July 11.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the NEA, the industrialists owe Rs 6.65 billion in addition to a 25 per cent fine, amounting to about Rs 8.25 billion. Initially, the NEA had calculated that industrialists who consumed electricity from the dedicated feeder and trunk line owed Rs 21.3 billion. However, the arrears were revised after taking into consideration the recommendation of a commission formed by the government to address the dispute.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Specifically, Jagdamba Steel owes Rs 1.60 billion, Jagdamba Synthetic Rs 200 million, Reliance Spinning Mills Rs 753.7 million, Ghorahi Cement Rs 510 million, Arghakhanchi Cement Rs 440 million, and Hulas Steel Rs 140 million.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">An official of the Ministry of Energy, Water Resources and Irrigation stated that the decision to reconnect the lines was made after five out of eight board members signed the minute prepared by the executive director of the NEA, Kulman Ghising, following the meeting on Tuesday. Despite holding two meetings earlier on Monday, the decision to reconnect the lines could not be finalized.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The minutes prepared by Ghising were signed by the Energy Minister and Chairman of the Board of Directors Deepak Khadka, Managing Director and Member Secretary Ghising, and Committee members Ram Prasad Ghimire, Sarita Dawadi, and Ratan Bahadur Aire. Another member, Bharat Acharya, is out of Kathmandu and will sign the minutes upon his return, according to the source.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"Members Bhakta Bahadur Pun and Kapil Acharya refused to sign the proposal to reconnect the line," said the source. They argued that the line should not be reconnected based on the instructions given by the Regulatory Commission. "Since the line was cut based on the decision of the Council of Ministers, they believe that a decision from the Council of Ministers is required to reconnect it," the member explained.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21347', 'image' => '20240724015805_1705202780.transformor-line-bijuli.jpg', 'article_date' => '2024-07-24 13:57:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21620', 'article_category_id' => '1', 'title' => 'Saurya Air Plane Crashes at TIA ', 'sub_title' => '', 'summary' => 'KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aircraft carrying 19 passengers including crew members skidded off the runway and caught fire. According to preliminary reports, eighteen passengers have reportedly died while the captain MR Shakya has been rushed to hospital </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Security personnel of all three security agencies were mobilized to douse the fire, said Gaurav Kumar KC, Spokesperson for the Nepalese Army. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Home Affairs Ramesh Lekhak has reached the Airport to take stock of the accident. – With inputs from RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21345', 'image' => '20240724123824_saurya-airlines48.jpg', 'article_date' => '2024-07-24 12:37:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21618', 'article_category_id' => '1', 'title' => 'Finance Ministry Identifies 46 Challenges of Nepal's Economy', 'sub_title' => '', 'summary' => 'KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues. "Mainly, there are 46 challenges in Nepal's economy, according to the observation of the Finance Ministry. Steps are required in 29 sectors to overcome these challenges," stated a press note issued by the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's secretaries and joint secretaries provided the minister with an overview of the country's economic status and proposed solutions. In response, Minister Poudel directed prioritizing these challenges to resolve them effectively.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Key challenges identified by the ministry officials include the slow growth rate in the economic sector compared to available resources, limited growth in savings, consumption, and investment, poor investment in the productive sector, and a significant gap in the import-export ratio. Additionally, unstable and slow economic growth, a substantial financing gap, limited gross domestic savings, and massive internal migration leading to a decreasing population trend in mountain, hill, and rural areas were highlighted as major issues.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also pointed out the limited contribution of the productive sector to economic growth, low productivity, and the declining trend of the industrial sector's contributions to the economy. Furthermore, the officials highlighted challenges such as an import-based revenue system, poor export status, a massive trade deficit, marginal growth in revenue collection and expenditure, ineffectiveness in capital expenditure, rising debts, and substantial financial liability for loan repayment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">To address these challenges, the ministry suggested reforms in 29 sectors. These reforms should focus on ensuring effective public expenditure with prioritization, improving capacity to increase capital expenditure, emphasizing fiscal strengthening, prioritizing production-based revenue, promoting effective use of debts, reducing financing risks, boosting economic growth by creating a conducive environment for investment, and investing more in the productive sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also proposed ideas for revitalizing the economy amid ongoing slowdown. These include removing internal obstacles to attract foreign direct investment (FDI), stressing the construction of hydropower projects and transmission lines, developing quality road networks, aligning rural roads with agricultural production and marketing, promoting the effectiveness of capital expenditure, and applying austerity measures in administrative costs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Additionally, the ministry recommended focusing government investment on infrastructure development, mobilizing foreign grants and concessional loans for national priority projects, and using funds related to climate change effectively. Other suggested measures include maintaining the government's reserve fund, discouraging non-budgetary demands, ensuring loan disbursement in the productive sector, and controlling bad debts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's officials also called for applying relaxed monetary tools to reduce the costs of fiscal tools while maintaining stability, providing project-based loans for SMEs, ensuring effective regulations of the fiscal sector, and developing a second-layer regulatory mechanism for the cooperative sector. Encouraging the use of remittance in the productive sector and implementing policy and legal reforms to increase the inflow of foreign investment were also among the proposed solutions. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21344', 'image' => '20240724114026_20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-07-24 11:39:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21617', 'article_category_id' => '1', 'title' => 'India Pledges Grant of Rs 11.20 Billion to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal. India’s Finance Minister Nirmala Sitharaman mentioned in the annual budget presented in the parliament on Tuesday that India will provide the aforementioned grant to Nepal in the fiscal year 2024-25. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This amount is INR 500 million (Rs 800 million) more than the revised estimate of the last fiscal year 2023-24. India had pledged to provide INR 6.50 billion (NRS 10.40 billion) to Nepal in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's grant to Bhutan is the highest, with a grant of INR 26.80 billion. Similarly, the budget mentions that India will provide grants of INR 5 billion to Mongolia, INR 4 billion to the Maldives, INR 2.5 billion to Myanmar, INR 2.45 billion to Sri Lanka, INR 2 billion to Afghanistan, INR 1.2 billion to Bangladesh, and INR 2 billion to African countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21343', 'image' => '20240724103002_20240107105700_Fl_600x600.jpg', 'article_date' => '2024-07-24 10:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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' => '21633', 'article_category_id' => '1', 'title' => 'July 22 Sets New Record for Hottest Day Globally: EU Climate Monitor', 'sub_title' => '', 'summary' => 'PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. Preliminary data from the Copernicus Climate Change Service (C3S) showed the daily global average temperature was 17.15 degrees Celsius (62.9 degrees Fahrenheit) on Monday, the warmest day in records going back to 1940. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This was 0.06C hotter than the day before on July 21, which itself broke by a small margin the all-time high temperature set a year earlier. Copernicus, which uses satellite data to update global air and sea temperatures close to real time, said its figures were provisional and final values may differ very slightly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The monitor had anticipated daily records would be exceeded as summer peaks in the northern hemisphere, and the planet endures a particularly long streak of extreme global heat driven by human-caused climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"This is exactly what climate science told us would happen if the world continued burning coal, oil and gas," said Joyce Kimutai, a climate scientist from Imperial College London, on Wednesday. "And it will continue getting hotter until we stop burning fossil fuels and reach net zero emissions." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Every month since June 2023 has eclipsed its own temperature record compared to the same month in previous years, an unprecedented 13-month streak C3S director Carlo Buontempo on Tuesday called "truly staggering". </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Climate change is causing longer, stronger and more frequent extreme weather events like heatwaves and floods, and this year has been marked by major disasters across the globe.</span> – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21359', 'image' => '20240725120200_20230604125858_global-warming.jpg', 'article_date' => '2024-07-25 12:01:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21632', 'article_category_id' => '1', 'title' => 'Simaltal Landslide caused by Unplanned Local Road Excavation: Study Report', 'sub_title' => 'Rescuers are yet to find all the missing passengers of the two buses swept away by landslide on July 12.', 'summary' => 'KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hima BK</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The report by the study committee concludes that stones and debris from the poorly planned local road caused the landslide. The finding aligns with longstanding warnings from the Department of Roads and experts about the heightened risks from the poorly built roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">A landslide swept away two buses with 65 people onboard, including the drivers, into the raging Trishuli River early morning on July 12 at Simaltal in Chitwan district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">While three of the passengers survived the incident, rescuers have recovered bodies of some other passengers from the river.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The ministry formed the study committee on July 14 under the coordination of Engineer Gyanendra Kumar Jha, chief of the Federal Road Supervision and Monitoring Office, Kathmandu, to submit a report within one week.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The committee submitted its report with suggestions to the ministry on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">An officer from the committee informed New Business Age that the accident happened due to a landslide that occurred during heavy rainfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Ramesh Prasad Paudel, divisional head of the Road Division in Bharatpur, said that the landslide began from a 650-metre stretch of road excavated by the Bharatpur Metropolitan City-29 office in Dumre village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"The landslide occurred from about 900 metres above. The ground itself is very sensitive with a steep slope," Paudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel also criticised local officials for continuing the road work despite multiple warnings to halt it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“A dozer was used in the construction of the road ignoring consideration for environmental impact assessment, design, or survey,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Surya Bahadur Gurung, ward chairman at Bharatpur Metropolitan City-29, said that the road was made above the Muglin-Narayangarh road section to connect the village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“It is said that the mud excavated during the construction got washed away during the rain and caused the accident, but in my observation the landslide was not so big to wash away the buses.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Gurung mentioned that the road has been under construction for the past 15 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“Though people have been blaming the road we built for the landslide, the Narayangarh-Mugling road has always been prone to landslides,” said Gurung.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Environmental Impact Assessment Report clearly states that the Narayangadh-Muglin road section was geographically weak even before its expansion, with chances of landslides occurring annually. The local road excavation further added to the risks of landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel said that vehicular movement along the road was blocked for 134 hours due to 36 landslides in a year from mid-April 2022 and for 124 hours due to 30 landslides in a year from mid-April 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“This year, there have been six landslides causing 19 hours of road blockage,” he added. “This incident marks the first human loss since mid-April 2022.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In the Public Roads Act, 2031, there is a provision to obtain permission from the Department of Roads to open an access road.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"We have not been able to stop the construction of access roads," said Sushil Babu Dhakal, spokesperson for the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Questions, however, have been raised about the geological condition of the road section and the ongoing construction activities around it after the Simaltal landslide.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Monika Jha, deputy director general and Spokesperson for the Department of Mines and Geology, said that there is always risk of landslides in the road section due to the presence of weak rocks as the section lies in the Chure area.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In 2008, the Japan International Cooperation Agency (JICA) conducted a study on landslides in the Narayangarh-Mugling section. Srikamal Dwivedi, a senior geologist who participated in the study, noted that any road construction, excavation, or hill cutting would increase the risk on this highway. "Landslides occurring on steep ground are a natural phenomenon," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21358', 'image' => '20240725103734_20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-25 10:36:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21631', 'article_category_id' => '1', 'title' => 'Government Forms Five-Member Committee to Probe Saurya Airlines Crash', 'sub_title' => 'The committee will submit a report in 45 days.', 'summary' => 'A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, JULY 25</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Pilot Manish Ratna Shakya remains the sole survivor in the crash at the Tribhuvan International Airport at 11:11 am on Wednesday. Shakya is receiving treatment at the Kathmandu Medical College in Sinamangal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The probe committee is led by Ratish Chandra Lal Suman, former director general at the Civil Aviation Authority of Nepal (CAAN), according to the Ministry of Culture, Tourism and Civil Aviation. Four other members include Deepu Jwarchan, Operation Director (Instructor Pilot) at Nepal Airlines; Sudip Bhattarai, head of the Mechanical and Aerospace Department at Pulchowk Campus; Sanjay Adhikari, aircraft maintenance engineer at Shree Airlines; and Mukesh Dangol, Air Traffic Control (ATC) Officer under the Ministry of Culture, Tourism and Civil Aviation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Dangol will serve in the committee as a member secretary.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The committee has been given a 45-days deadline to submit a report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration mark 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 (Koteshwar side) at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The plane had caught fire in the accident. Rescuers found 18–17 Nepalis and one Yemini citizen–of the 19 people onboard dead.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The bodies of the deceased were taken to the Tribhuvan University Teaching Hospital at Maharajgunj, Kathmandu for postmortem, which began late Wednesday evening.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21357', 'image' => '20240725093346_unnamed.jpg', 'article_date' => '2024-07-25 09:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21630', 'article_category_id' => '1', 'title' => 'Real Estate Transactions Come to a Standstill in Chitwan', 'sub_title' => '', 'summary' => 'With the economic downturn, real estate transactions in Chitwan have declined. According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 25: With the economic downturn, real estate transactions in Chitwan have declined. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Office, Bharatpur, 6,987 plots of land were bought and sold in the last fiscal year. In the previous fiscal year, the number of plots bought and sold was 7,468.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Although land transactions decreased in the last fiscal year compared to the previous one, the Land Revenue Office employees report that buying and selling have nearly come to a standstill in the past six months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Land Revenue Officer Tikaram Adhikari of the Bharatpur office, land transactions have been almost nonexistent in the last six months. "In my six years of working in Chitwan, I have never seen such a decline in land transactions," he said, attributing the drop to the economic downturn.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Madi, 1,181 plots were registered last fiscal year, down from 1,562 in the previous fiscal year. The office reports that the decline in land transactions has also led to a decrease in government revenue collection.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The office collected 32.2 million rupees in revenue from land transactions in the last fiscal year, down from 35.7 million rupees in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Khairahani, 1,736 plots were registered last fiscal year, compared to 1,804 plots in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, in the Land Revenue Office, Chanauli, land transactions have slightly increased. According to Chief Narhari Sapkota of the Chanauli office, 4,213 plots were registered last fiscal year, generating 463.9 million rupees in revenue. In the previous fiscal year, 3,953 plots were registered, generating 419.6 million rupees in revenue.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sixty percent of the revenue collected from service fees, registration fees, door facility fees, and late fees goes to the respective local government, while 40 percent goes to the provincial government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Real estate businessman Dinesh Kumar Chuke said that the land transactions appear higher in Chanauli due to cooperative in Kathmandu selling land to their shareholder members at cheap prices. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The cooperatives in Kathmandu have sold land to depositors at low prices, which has increased the transactions there. Since they couldn't return the savings, the cooperatives sold the land," he said, noting that overall real estate transactions in the district were stagnant last fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Chuke mentioned that stricter bank regulations on real estate investment, reduced use of remittance money for land transactions, and the economic downturn have led to the decline in real estate transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He analyzed that real estate transactions have decreased by about 70 percent since fiscal year 2076/77.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21356', 'image' => '20240725061643_collage (75).jpg', 'article_date' => '2024-07-25 06:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21629', 'article_category_id' => '1', 'title' => 'After Surging for Six Days in a Row, NEPSE Index Declines by 27.32 Points', 'sub_title' => 'The daily turnover exceeds Rs. 16.2 billion, highest in nearly three years, on Wednesday.', 'summary' => 'After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Earlier on August 19, 2021, the daily share turnover had exceeded Rs 20.4 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Market correction was observed on Wednesday as short-term traders booked profits in the rising market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Sensitive index, Float index and Sensitive Float index declined by 1.36%, 0.90% and 1.29% respectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Wednesday, more than 4 million units of shares of 311 companies were traded in 1,88,865 transactions. Two companies, Bottlers Nepal (Terai) Limited (BNT) and Asian Hydropower Limited (AHL), experienced a positive circuit break in their share values.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the share price of BNT reached Rs. 16,412 that of Asian Hydropower reached Rs. 689.90.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The share owners of Chirkhwa Hydropower Limited (CKHL) were the biggest losers of the day, with a 7.79% decline in the company’s share. Similarly, Super Madi Hydropower Limited (SMHL) saw its share price decline by 6.08% to Rs. 741.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 13 sub-indices, only two increased on Wednesday. While the finance sub-index surged by 1.16%, the trading sub-index declined by 3.09%.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21355', 'image' => '20240724093144_20230902090516_20230406055916_collage - 2023-04-03T173010.811.jpg', 'article_date' => '2024-07-24 21:30:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21628', 'article_category_id' => '1', 'title' => 'Saurya Airlines Plane Crash brings into Light Nepal’s Poor Air Safety Record', 'sub_title' => '18 people were killed on Wednesday after a Pokhara-bound plane crashed at the TIA shortly after takeoff.', 'summary' => 'KATHMANDU, JULY 24: The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span>: <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.</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:"Georgia","serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration number 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </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:"Georgia","serif"">The plane had caught fire after the accident.</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:"Georgia","serif"">Despite immediate rescue efforts, 18 of the 19 people onboard were found dead. Captain Manish Ratna Shakya, who had sustained injuries, was rescued and taken to the hospital, according to CAAN.</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:"Georgia","serif"">Among the dead, 17 were Nepalis and one Yemini national named Aref Reda.</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:"Georgia","serif"">The Nepali citizens who lost their lives were Amit Man Maharjan, Sagar Acharya, Dilip Verma, Manu Raj Sharma, Ashwin Niraula, Sudip Lal Joshi, Sarbesh Marasain, Shyam Bindukar, Nava Raj Ale, Raja Ram Acharya, Priza khatiwada, Adhiraj Sharma, Uddhab Puri, Yagya Prasad Poudyal, Santosh Mahato, Punya Ratna Shahi and Co-pilot Sushant Katuwal. </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:"Georgia","serif"">Most of them were the employees at Saurya Airlines and were heading towards Pokhara to carry out maintenance works, according to Police.</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:"Georgia","serif"">Wednesday's air accident occurred around a year after five members of a family from Mexico and a Nepali pilot were killed in a helicopter crash in Solukhumbu district on July 11 last year.</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:"Georgia","serif"">Earlier that, Nepal reported its deadliest aviation disaster in three decades on January 15, 2023 when a double engine ATR 72 plane operated by Yeti Airlines crashed near newly inaugurated international airport in Pokhara, killing all 72 onboard.</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:"Georgia","serif"">Similarly, a twin otter plane operated by Tara Air crashed on May 29, 2022 while it was heading to Jomsom from Pokhara, claiming the lives of 22 onboard. The plane had crashed about 15 minutes after take off. </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:"Georgia","serif"">The then Minister for Culture, Tourism and Civil Aviation Rabindra Adhikari was killed along with six others in a helicopter crash in Taplejung district on February 27, 2019.</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:"Georgia","serif"">Apart from Nepal’s difficult geography, many consider CAAN’s dual role–as a service provider and a regulator–as one of the major reasons hampering aviation safety in the country. </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:"Georgia","serif"">Nepal has recorded more than 100 air crashes in its aviation history with more than 900 people having lost their lives in such incidents since 1955, according to CAAN.</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:"Georgia","serif"">Poor safety records have tarnished Nepal’s reputation in the international aviation sector.</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:"Georgia","serif"">The European Union which first banned Nepali airlines from operating flights into the sky of the EU member countries in 2013, has continued the prohibition citing poor aviation safety record of Nepal.</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:"Georgia","serif"">Here is the timeline of Nepal's aviation disasters in the last decade.</span></span></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse; width:6.5in"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Date</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Crash</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 24, 2024</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Saurya Airlines, 18 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 11, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Manang Air helicopter, 6 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">January 15, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Yeti Air, 72 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">May 29, 2022</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 22 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 27, 2019</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Dynasty helicopter, 7 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">March 12, 2018</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">US-Bangla Airlines, 51 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 26, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Kasthamandap Airlines, 2 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 24, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 23 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 16, 2014 </span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Nepal Airlines, 18</span></span></span></span></p> </td> </tr> </tbody> </table> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21354', 'image' => '20240724070148_unnamed.jpg', 'article_date' => '2024-07-24 19:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21627', 'article_category_id' => '1', 'title' => '18 Dead, Pilot Survives as Saurya Airlines Plane Crashes at TIA during Takeoff (with namelist)', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, CAAN said that the Bombardier CRJ200 aircraft with call sign 9N-AME veered off the runway shortly after takeoff and crashed to the east side of the runway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident happened soon after takeoff at 11.11 am. The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the pilots survived the crash. The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The pilot has injuries to his eyes but his life is not in any danger,” the Associated Press reported quoting a doctor at Kathmandu Medical College.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA was briefly halted as a result of the accident.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to list of casualties published by CAAN, the victims are:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Co-Pilot Sushant Katuwal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Priza Khatiwada</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amit Man Maharjan</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagar Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dilip Verma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manu Raj Sharma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashwin Niraula</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudip Lal Joshi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sarbesh Marasini</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shyam Bindukar</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nava Raj Ale</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Raja Ram Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Uddhab Puri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yagya Prasad Poudyal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Santosh Mahato</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Punya Ratna Saahi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Adhiraj Sharma (child) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aref Reda (Yemeni citizen)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21353', 'image' => '20240724032114_9d95161c.jpeg', 'article_date' => '2024-07-24 15:20:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21626', 'article_category_id' => '1', 'title' => 'Tribhuvan International Airport Resumes Operations', 'sub_title' => '', 'summary' => 'KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash. The incident occurred at 11:11 AM on Wednesday involving Saurya Airlines flight 9N-AME (CRJ 200).</span><br /> <br /> The Civil Aviation Authority of Nepal confirmed that 18 people lost their lives in the accident. The captain of the plane, 37-year-old Manish Shakya, survived but is injured and receiving treatment at KMC Hospital.<br /> <br /> A Bhutan Air flight, which had been held in the sky, has safely landed following the reopening of the airport.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21352', 'image' => '20240724023623_2009-03_Kathmandu_10.jpg', 'article_date' => '2024-07-24 14:35:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21622', 'article_category_id' => '1', 'title' => '18 Dead as Saurya Airlines Plane en route to Pokhara Crashes at TIA during Takeoff', 'sub_title' => 'Pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at Kathmandu Medical College', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). The accident happened at around 11 am. One of the pilots survived the crash.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane crashed east of runway 20 while taking off from Runway 02.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA have been disrupted as a result of the accident.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21351', 'image' => '20240724013038_80581170.jpeg', 'article_date' => '2024-07-24 13:28:55', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21621', 'article_category_id' => '1', 'title' => 'Eighteen Killed in Plane Crash at TIA (Update)', 'sub_title' => '', 'summary' => 'KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident occurred as the plane skidded off the runway during takeoff. The aircraft fell into a base of a slope to the eastern side of the Tribhuvan International Airport’s runway and caught fire.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Senior Superintendent of Police Dambar BK informed the state-owned RSS that the bodies of 18 people on the plane were collected while they were scattered around the accident site. He said that preparations are now being made to take the collected bodies to the Tribhuvan University Teaching Hospital for post mortem. According to Superintendent of Police BK, one of the crew members of the plane was rescued alive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Captain MR Shakya has been rushed to hospital.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane was heading to Pokhara with employees and technicians to repair another aircraft of Saurya Air. Domestic flights have been affected at the airport due to the crash.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21350', 'image' => '20240724125958_9d95161c.jpeg', 'article_date' => '2024-07-24 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21619', 'article_category_id' => '1', 'title' => 'India’s Decision to Reduce Customs Duty on Gold Imports Likely to Fuel Smuggling in Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly. The reduction has made gold and silver much cheaper in India compared to Nepal, compelling the Government of Nepal to consider following New Delhi’s example.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Presenting the budget for the next fiscal year, Indian Finance Minister Nirmala Sitharaman reduced the customs duty on gold and silver imports from 15 percent to 6 percent. Conversely, the Government of Nepal announced the budget for FY 2024/25 on May 28 and increased the customs duty on gold imports from 15 percent to 20 percent. Currently, importing gold in Nepal incurs a 20 percent customs duty, while importing silver incurs a 15 percent customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal's policy aims to increase the price of gold jewelry by raising the customs duty on gold imports, whereas India aims to reduce the price of gold and silver jewelry by lowering the customs duty. Gold and silver traders claim this disparity has heightened the risk of unauthorized imports through the open border.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Previously, the Indian government had increased the customs duty on gold and silver imports on January 22, raising it from 10 percent to 15 percent due to a trade deficit caused by high rates of gold imports. Six months later, they reduced the duty by 9 percentage points.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mani Ratna Shakya, founding president of the Nepal Gold and Silver Dealers Federation, states that India's latest policy necessitates an immediate reduction in Nepal's customs duties. According to him, after India's reduction, raw gold will be cheaper in India by more than Rs 12,000 per tola (11.66 grams) and silver by more than Rs 200 per tola compared to Nepal. "Nepali customers will definitely be attracted to India when cheap gold and silver are available there," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Teja Ratna Shakya, former president of the federation, mentions that Nepal has failed to adjust customs duties on gold and silver in a timely manner. "There is a problem because there is no change in policy," Shakya told New Business Age, "The tax should not have been increased in the recently-announced budget."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He indicated that due to the increase in customs duty, silver is being smuggled from India to Nepal. Shakya said that the federation will urge the Finance Minister to reduce the customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Shakya, the tariff rate on gold and silver imports should be stabilized. "If we want to protect the Nepali market, a 10 percent customs duty should be imposed per 10 grams," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tax expert Dr. Chandramani Adhikari believes India's reduction in the tax on gold and silver aims to control smuggling from China through Nepal. "Demand was increasing in India and therefore gold was being smuggled. So they tried to control it by reducing tariff," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He asserts that if India reduces the customs duty on gold and silver, smuggling from various countries through Nepal to India will decrease. Since India is a large market, a substantial amount of Nepalese foreign currency is spent when smuggling occurs. Nepal Rastra Bank suspects that smugglers are using remittances sent by Nepalis abroad to buy gold, which is then smuggled to India. The central bank has previously attributed the decline in Nepal's foreign exchange reserves to gold smuggling and high imports. Consequently, the government banned the import of certain items and imposed restrictions on gold imports two years ago.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gold and silver traders argue that when gold is expensive, domestic customers may go to India to buy jewelry, potentially drying up the business in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, gold was traded at Rs 146,300 per tola on Tuesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Customs reports that gold worth Rs 23.65 billion was imported into Nepal in the last fiscal year, FY 2023/24. Economists warn that since prices in India are lower than in Nepal, there is a risk of gold smuggling from India. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">An economist stated that the government should be vigilant in monitoring and controlling smuggling. Tax experts emphasize that the Ministry of Finance and the central bank should take appropriate measures after a detailed study of the differences in customs duties between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of the Revenue Division of the Ministry of Finance indicated that a study on the customs duties reduced by India and the rates charged in Nepal has been prepared. "After the study, the customs duty rate may be revised," said the official, adding that the Ministry of Finance plans to discuss immediate options with businessmen soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21348', 'image' => '20240724122937_cd5483b7.jpeg', 'article_date' => '2024-07-24 12:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21623', 'article_category_id' => '1', 'title' => 'Tariff Dispute: Industrialists Refuse to Pay Dues Despite Resumption of Electricity Supply', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. However, the industrialists have not shown signs of accepting the NEA’s conditions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Following Prime Minister KP Sharma Oli's verbal and written instructions to the Electricity Regulatory Commission, the board of directors' meeting held on Tuesday decided to reconnect the power lines with specific conditions. The board decided that if the industrialists did not pay the arrears within three months, action would be taken to recover the dues. The power lines were restored at 8 pm on Tuesday, according to Deputy Executive Director Manoj Silwal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, the industrialists are unwilling to pay the fees according to the conditions set by the NEA. They have stated they will only pay the dues if the NEA provides bills with sufficient evidence that the industries consumed electricity from dedicated feeders and trunk lines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We have never said that we will not pay the arrears. However, the NEA should be able to submit the bill based on sufficient evidence," Pashupati Murarka, the owner of Arghakhanchi Cement, told New Business Age. He expressed surprise that the NEA is unwilling to provide the evidence.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Officials of the NEA claim that in addition to TOD meter data, they have other sufficient evidence. TOD meters record electricity consumption details during the day, month, and year. However, since the NEA could not protect this evidence, it has been challenging to provide sufficient proof. The NEA sent letters to 61 industries on June 24, demanding the dues for the period from January 2015 to April 2018 within 15 days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As none of the industrialists settled the arrears by July 9, the NEA cut the electricity lines of Reliance Spinning Mills, Ghorahi Cement, and Arghakhanchi Cement on July 9. The next day, the NEA cut the lines of Jagdamba Synthetic followed by Hulas Steel and Jagdamba Steel on July 11.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the NEA, the industrialists owe Rs 6.65 billion in addition to a 25 per cent fine, amounting to about Rs 8.25 billion. Initially, the NEA had calculated that industrialists who consumed electricity from the dedicated feeder and trunk line owed Rs 21.3 billion. However, the arrears were revised after taking into consideration the recommendation of a commission formed by the government to address the dispute.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Specifically, Jagdamba Steel owes Rs 1.60 billion, Jagdamba Synthetic Rs 200 million, Reliance Spinning Mills Rs 753.7 million, Ghorahi Cement Rs 510 million, Arghakhanchi Cement Rs 440 million, and Hulas Steel Rs 140 million.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">An official of the Ministry of Energy, Water Resources and Irrigation stated that the decision to reconnect the lines was made after five out of eight board members signed the minute prepared by the executive director of the NEA, Kulman Ghising, following the meeting on Tuesday. Despite holding two meetings earlier on Monday, the decision to reconnect the lines could not be finalized.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The minutes prepared by Ghising were signed by the Energy Minister and Chairman of the Board of Directors Deepak Khadka, Managing Director and Member Secretary Ghising, and Committee members Ram Prasad Ghimire, Sarita Dawadi, and Ratan Bahadur Aire. Another member, Bharat Acharya, is out of Kathmandu and will sign the minutes upon his return, according to the source.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"Members Bhakta Bahadur Pun and Kapil Acharya refused to sign the proposal to reconnect the line," said the source. They argued that the line should not be reconnected based on the instructions given by the Regulatory Commission. "Since the line was cut based on the decision of the Council of Ministers, they believe that a decision from the Council of Ministers is required to reconnect it," the member explained.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21347', 'image' => '20240724015805_1705202780.transformor-line-bijuli.jpg', 'article_date' => '2024-07-24 13:57:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21620', 'article_category_id' => '1', 'title' => 'Saurya Air Plane Crashes at TIA ', 'sub_title' => '', 'summary' => 'KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aircraft carrying 19 passengers including crew members skidded off the runway and caught fire. According to preliminary reports, eighteen passengers have reportedly died while the captain MR Shakya has been rushed to hospital </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Security personnel of all three security agencies were mobilized to douse the fire, said Gaurav Kumar KC, Spokesperson for the Nepalese Army. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Home Affairs Ramesh Lekhak has reached the Airport to take stock of the accident. – With inputs from RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21345', 'image' => '20240724123824_saurya-airlines48.jpg', 'article_date' => '2024-07-24 12:37:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21618', 'article_category_id' => '1', 'title' => 'Finance Ministry Identifies 46 Challenges of Nepal's Economy', 'sub_title' => '', 'summary' => 'KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues. "Mainly, there are 46 challenges in Nepal's economy, according to the observation of the Finance Ministry. Steps are required in 29 sectors to overcome these challenges," stated a press note issued by the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's secretaries and joint secretaries provided the minister with an overview of the country's economic status and proposed solutions. In response, Minister Poudel directed prioritizing these challenges to resolve them effectively.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Key challenges identified by the ministry officials include the slow growth rate in the economic sector compared to available resources, limited growth in savings, consumption, and investment, poor investment in the productive sector, and a significant gap in the import-export ratio. Additionally, unstable and slow economic growth, a substantial financing gap, limited gross domestic savings, and massive internal migration leading to a decreasing population trend in mountain, hill, and rural areas were highlighted as major issues.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also pointed out the limited contribution of the productive sector to economic growth, low productivity, and the declining trend of the industrial sector's contributions to the economy. Furthermore, the officials highlighted challenges such as an import-based revenue system, poor export status, a massive trade deficit, marginal growth in revenue collection and expenditure, ineffectiveness in capital expenditure, rising debts, and substantial financial liability for loan repayment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">To address these challenges, the ministry suggested reforms in 29 sectors. These reforms should focus on ensuring effective public expenditure with prioritization, improving capacity to increase capital expenditure, emphasizing fiscal strengthening, prioritizing production-based revenue, promoting effective use of debts, reducing financing risks, boosting economic growth by creating a conducive environment for investment, and investing more in the productive sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also proposed ideas for revitalizing the economy amid ongoing slowdown. These include removing internal obstacles to attract foreign direct investment (FDI), stressing the construction of hydropower projects and transmission lines, developing quality road networks, aligning rural roads with agricultural production and marketing, promoting the effectiveness of capital expenditure, and applying austerity measures in administrative costs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Additionally, the ministry recommended focusing government investment on infrastructure development, mobilizing foreign grants and concessional loans for national priority projects, and using funds related to climate change effectively. Other suggested measures include maintaining the government's reserve fund, discouraging non-budgetary demands, ensuring loan disbursement in the productive sector, and controlling bad debts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's officials also called for applying relaxed monetary tools to reduce the costs of fiscal tools while maintaining stability, providing project-based loans for SMEs, ensuring effective regulations of the fiscal sector, and developing a second-layer regulatory mechanism for the cooperative sector. Encouraging the use of remittance in the productive sector and implementing policy and legal reforms to increase the inflow of foreign investment were also among the proposed solutions. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21344', 'image' => '20240724114026_20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-07-24 11:39:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21617', 'article_category_id' => '1', 'title' => 'India Pledges Grant of Rs 11.20 Billion to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal. India’s Finance Minister Nirmala Sitharaman mentioned in the annual budget presented in the parliament on Tuesday that India will provide the aforementioned grant to Nepal in the fiscal year 2024-25. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This amount is INR 500 million (Rs 800 million) more than the revised estimate of the last fiscal year 2023-24. India had pledged to provide INR 6.50 billion (NRS 10.40 billion) to Nepal in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's grant to Bhutan is the highest, with a grant of INR 26.80 billion. Similarly, the budget mentions that India will provide grants of INR 5 billion to Mongolia, INR 4 billion to the Maldives, INR 2.5 billion to Myanmar, INR 2.45 billion to Sri Lanka, INR 2 billion to Afghanistan, INR 1.2 billion to Bangladesh, and INR 2 billion to African countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21343', 'image' => '20240724103002_20240107105700_Fl_600x600.jpg', 'article_date' => '2024-07-24 10:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!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' => '21633', 'article_category_id' => '1', 'title' => 'July 22 Sets New Record for Hottest Day Globally: EU Climate Monitor', 'sub_title' => '', 'summary' => 'PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">PARIS: Earth withered through a second-straight day of record-breaking heat on July 22, the EU's climate monitor said Wednesday, as large parts of Europe, Asia and North America suffer blistering temperatures. Preliminary data from the Copernicus Climate Change Service (C3S) showed the daily global average temperature was 17.15 degrees Celsius (62.9 degrees Fahrenheit) on Monday, the warmest day in records going back to 1940. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">This was 0.06C hotter than the day before on July 21, which itself broke by a small margin the all-time high temperature set a year earlier. Copernicus, which uses satellite data to update global air and sea temperatures close to real time, said its figures were provisional and final values may differ very slightly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">The monitor had anticipated daily records would be exceeded as summer peaks in the northern hemisphere, and the planet endures a particularly long streak of extreme global heat driven by human-caused climate change.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">"This is exactly what climate science told us would happen if the world continued burning coal, oil and gas," said Joyce Kimutai, a climate scientist from Imperial College London, on Wednesday. "And it will continue getting hotter until we stop burning fossil fuels and reach net zero emissions." </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Every month since June 2023 has eclipsed its own temperature record compared to the same month in previous years, an unprecedented 13-month streak C3S director Carlo Buontempo on Tuesday called "truly staggering". </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">Climate change is causing longer, stronger and more frequent extreme weather events like heatwaves and floods, and this year has been marked by major disasters across the globe.</span> – AFP/RSS</span></span></p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21359', 'image' => '20240725120200_20230604125858_global-warming.jpg', 'article_date' => '2024-07-25 12:01:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21632', 'article_category_id' => '1', 'title' => 'Simaltal Landslide caused by Unplanned Local Road Excavation: Study Report', 'sub_title' => 'Rescuers are yet to find all the missing passengers of the two buses swept away by landslide on July 12.', 'summary' => 'KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Hima BK</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">KATHMANDU: The committee formed by the Ministry of Physical Infrastructure and Transport to study the Simaltal landslide incident has identified unplanned road construction by local authorities as the primary reason for the landslide which swept away two buses on the Narayangarh-Mugling road section almost two weeks ago.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The report by the study committee concludes that stones and debris from the poorly planned local road caused the landslide. The finding aligns with longstanding warnings from the Department of Roads and experts about the heightened risks from the poorly built roads.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">A landslide swept away two buses with 65 people onboard, including the drivers, into the raging Trishuli River early morning on July 12 at Simaltal in Chitwan district. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">While three of the passengers survived the incident, rescuers have recovered bodies of some other passengers from the river.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The ministry formed the study committee on July 14 under the coordination of Engineer Gyanendra Kumar Jha, chief of the Federal Road Supervision and Monitoring Office, Kathmandu, to submit a report within one week.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The committee submitted its report with suggestions to the ministry on Monday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">An officer from the committee informed New Business Age that the accident happened due to a landslide that occurred during heavy rainfall.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Ramesh Prasad Paudel, divisional head of the Road Division in Bharatpur, said that the landslide began from a 650-metre stretch of road excavated by the Bharatpur Metropolitan City-29 office in Dumre village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"The landslide occurred from about 900 metres above. The ground itself is very sensitive with a steep slope," Paudel said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel also criticised local officials for continuing the road work despite multiple warnings to halt it. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“A dozer was used in the construction of the road ignoring consideration for environmental impact assessment, design, or survey,” he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Surya Bahadur Gurung, ward chairman at Bharatpur Metropolitan City-29, said that the road was made above the Muglin-Narayangarh road section to connect the village. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“It is said that the mud excavated during the construction got washed away during the rain and caused the accident, but in my observation the landslide was not so big to wash away the buses.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Gurung mentioned that the road has been under construction for the past 15 years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“Though people have been blaming the road we built for the landslide, the Narayangarh-Mugling road has always been prone to landslides,” said Gurung.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">The Environmental Impact Assessment Report clearly states that the Narayangadh-Muglin road section was geographically weak even before its expansion, with chances of landslides occurring annually. The local road excavation further added to the risks of landslides.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Paudel said that vehicular movement along the road was blocked for 134 hours due to 36 landslides in a year from mid-April 2022 and for 124 hours due to 30 landslides in a year from mid-April 2023.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">“This year, there have been six landslides causing 19 hours of road blockage,” he added. “This incident marks the first human loss since mid-April 2022.”</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In the Public Roads Act, 2031, there is a provision to obtain permission from the Department of Roads to open an access road.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">"We have not been able to stop the construction of access roads," said Sushil Babu Dhakal, spokesperson for the Ministry of Physical Infrastructure and Transport.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Questions, however, have been raised about the geological condition of the road section and the ongoing construction activities around it after the Simaltal landslide.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">Monika Jha, deputy director general and Spokesperson for the Department of Mines and Geology, said that there is always risk of landslides in the road section due to the presence of weak rocks as the section lies in the Chure area.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Georgia","serif"">In 2008, the Japan International Cooperation Agency (JICA) conducted a study on landslides in the Narayangarh-Mugling section. Srikamal Dwivedi, a senior geologist who participated in the study, noted that any road construction, excavation, or hill cutting would increase the risk on this highway. "Landslides occurring on steep ground are a natural phenomenon," he said.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21358', 'image' => '20240725103734_20240712110443_f61e6067.jpeg', 'article_date' => '2024-07-25 10:36:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21631', 'article_category_id' => '1', 'title' => 'Government Forms Five-Member Committee to Probe Saurya Airlines Crash', 'sub_title' => 'The committee will submit a report in 45 days.', 'summary' => 'A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">NewBiz Report</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">KATHMANDU, JULY 25</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Cabinet meeting on Wednesday evening decided to form a five-member committee to probe the Saurya Airlines crash which claimed the lives of 18 people onboard.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Pilot Manish Ratna Shakya remains the sole survivor in the crash at the Tribhuvan International Airport at 11:11 am on Wednesday. Shakya is receiving treatment at the Kathmandu Medical College in Sinamangal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The probe committee is led by Ratish Chandra Lal Suman, former director general at the Civil Aviation Authority of Nepal (CAAN), according to the Ministry of Culture, Tourism and Civil Aviation. Four other members include Deepu Jwarchan, Operation Director (Instructor Pilot) at Nepal Airlines; Sudip Bhattarai, head of the Mechanical and Aerospace Department at Pulchowk Campus; Sanjay Adhikari, aircraft maintenance engineer at Shree Airlines; and Mukesh Dangol, Air Traffic Control (ATC) Officer under the Ministry of Culture, Tourism and Civil Aviation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Dangol will serve in the committee as a member secretary.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The committee has been given a 45-days deadline to submit a report.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration mark 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 (Koteshwar side) at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The plane had caught fire in the accident. Rescuers found 18–17 Nepalis and one Yemini citizen–of the 19 people onboard dead.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The bodies of the deceased were taken to the Tribhuvan University Teaching Hospital at Maharajgunj, Kathmandu for postmortem, which began late Wednesday evening.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21357', 'image' => '20240725093346_unnamed.jpg', 'article_date' => '2024-07-25 09:33:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21630', 'article_category_id' => '1', 'title' => 'Real Estate Transactions Come to a Standstill in Chitwan', 'sub_title' => '', 'summary' => 'With the economic downturn, real estate transactions in Chitwan have declined. According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 25: With the economic downturn, real estate transactions in Chitwan have declined. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Offices, land buying and selling decreased in the fiscal year 2080/81 compared to the previous fiscal year 2079/80.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to the Land Revenue Office, Bharatpur, 6,987 plots of land were bought and sold in the last fiscal year. In the previous fiscal year, the number of plots bought and sold was 7,468.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Although land transactions decreased in the last fiscal year compared to the previous one, the Land Revenue Office employees report that buying and selling have nearly come to a standstill in the past six months.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">According to Land Revenue Officer Tikaram Adhikari of the Bharatpur office, land transactions have been almost nonexistent in the last six months. "In my six years of working in Chitwan, I have never seen such a decline in land transactions," he said, attributing the drop to the economic downturn.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Madi, 1,181 plots were registered last fiscal year, down from 1,562 in the previous fiscal year. The office reports that the decline in land transactions has also led to a decrease in government revenue collection.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The office collected 32.2 million rupees in revenue from land transactions in the last fiscal year, down from 35.7 million rupees in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In the Land Revenue Office, Khairahani, 1,736 plots were registered last fiscal year, compared to 1,804 plots in the previous fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">However, in the Land Revenue Office, Chanauli, land transactions have slightly increased. According to Chief Narhari Sapkota of the Chanauli office, 4,213 plots were registered last fiscal year, generating 463.9 million rupees in revenue. In the previous fiscal year, 3,953 plots were registered, generating 419.6 million rupees in revenue.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Sixty percent of the revenue collected from service fees, registration fees, door facility fees, and late fees goes to the respective local government, while 40 percent goes to the provincial government.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Real estate businessman Dinesh Kumar Chuke said that the land transactions appear higher in Chanauli due to cooperative in Kathmandu selling land to their shareholder members at cheap prices. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"The cooperatives in Kathmandu have sold land to depositors at low prices, which has increased the transactions there. Since they couldn't return the savings, the cooperatives sold the land," he said, noting that overall real estate transactions in the district were stagnant last fiscal year.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Chuke mentioned that stricter bank regulations on real estate investment, reduced use of remittance money for land transactions, and the economic downturn have led to the decline in real estate transactions. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">He analyzed that real estate transactions have decreased by about 70 percent since fiscal year 2076/77.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-25', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21356', 'image' => '20240725061643_collage (75).jpg', 'article_date' => '2024-07-25 06:11:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21629', 'article_category_id' => '1', 'title' => 'After Surging for Six Days in a Row, NEPSE Index Declines by 27.32 Points', 'sub_title' => 'The daily turnover exceeds Rs. 16.2 billion, highest in nearly three years, on Wednesday.', 'summary' => 'After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">After surging for six working days in a row, the Nepal Stock Exchange (NEPSE) index declined by 27.32 points to close at 2536.11 points on Wednesday, with a turnover of over Rs. 16.2 billion which is highest in nearly three years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Earlier on August 19, 2021, the daily share turnover had exceeded Rs 20.4 million. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Market correction was observed on Wednesday as short-term traders booked profits in the rising market.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The Sensitive index, Float index and Sensitive Float index declined by 1.36%, 0.90% and 1.29% respectively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">On Wednesday, more than 4 million units of shares of 311 companies were traded in 1,88,865 transactions. Two companies, Bottlers Nepal (Terai) Limited (BNT) and Asian Hydropower Limited (AHL), experienced a positive circuit break in their share values.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">While the share price of BNT reached Rs. 16,412 that of Asian Hydropower reached Rs. 689.90.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">The share owners of Chirkhwa Hydropower Limited (CKHL) were the biggest losers of the day, with a 7.79% decline in the company’s share. Similarly, Super Madi Hydropower Limited (SMHL) saw its share price decline by 6.08% to Rs. 741.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Georgia","serif"">Of the 13 sub-indices, only two increased on Wednesday. While the finance sub-index surged by 1.16%, the trading sub-index declined by 3.09%.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21355', 'image' => '20240724093144_20230902090516_20230406055916_collage - 2023-04-03T173010.811.jpg', 'article_date' => '2024-07-24 21:30:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21628', 'article_category_id' => '1', 'title' => 'Saurya Airlines Plane Crash brings into Light Nepal’s Poor Air Safety Record', 'sub_title' => '18 people were killed on Wednesday after a Pokhara-bound plane crashed at the TIA shortly after takeoff.', 'summary' => 'KATHMANDU, JULY 24: The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">NewBiz Report<br /> KATHMANDU, JULY 24</span></span></span></span>: <span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">The death of 18 individuals in a plane crash at Tribhuvan International Airport on Wednesday has once again brought into surface the concerns regarding Nepal’s poor air safety records.</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:"Georgia","serif"">A Saurya Airlines Bombardier CRJ 200 plane with a registration number 9N-AME veered off to the right and crashed on the east side of the runway, shortly after taking off from runway 02 at 11:11 am, said the Civil Aviation Authority of Nepal (CAAN) in a press statement. </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:"Georgia","serif"">The plane had caught fire after the accident.</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:"Georgia","serif"">Despite immediate rescue efforts, 18 of the 19 people onboard were found dead. Captain Manish Ratna Shakya, who had sustained injuries, was rescued and taken to the hospital, according to CAAN.</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:"Georgia","serif"">Among the dead, 17 were Nepalis and one Yemini national named Aref Reda.</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:"Georgia","serif"">The Nepali citizens who lost their lives were Amit Man Maharjan, Sagar Acharya, Dilip Verma, Manu Raj Sharma, Ashwin Niraula, Sudip Lal Joshi, Sarbesh Marasain, Shyam Bindukar, Nava Raj Ale, Raja Ram Acharya, Priza khatiwada, Adhiraj Sharma, Uddhab Puri, Yagya Prasad Poudyal, Santosh Mahato, Punya Ratna Shahi and Co-pilot Sushant Katuwal. </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:"Georgia","serif"">Most of them were the employees at Saurya Airlines and were heading towards Pokhara to carry out maintenance works, according to Police.</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:"Georgia","serif"">Wednesday's air accident occurred around a year after five members of a family from Mexico and a Nepali pilot were killed in a helicopter crash in Solukhumbu district on July 11 last year.</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:"Georgia","serif"">Earlier that, Nepal reported its deadliest aviation disaster in three decades on January 15, 2023 when a double engine ATR 72 plane operated by Yeti Airlines crashed near newly inaugurated international airport in Pokhara, killing all 72 onboard.</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:"Georgia","serif"">Similarly, a twin otter plane operated by Tara Air crashed on May 29, 2022 while it was heading to Jomsom from Pokhara, claiming the lives of 22 onboard. The plane had crashed about 15 minutes after take off. </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:"Georgia","serif"">The then Minister for Culture, Tourism and Civil Aviation Rabindra Adhikari was killed along with six others in a helicopter crash in Taplejung district on February 27, 2019.</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:"Georgia","serif"">Apart from Nepal’s difficult geography, many consider CAAN’s dual role–as a service provider and a regulator–as one of the major reasons hampering aviation safety in the country. </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:"Georgia","serif"">Nepal has recorded more than 100 air crashes in its aviation history with more than 900 people having lost their lives in such incidents since 1955, according to CAAN.</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:"Georgia","serif"">Poor safety records have tarnished Nepal’s reputation in the international aviation sector.</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:"Georgia","serif"">The European Union which first banned Nepali airlines from operating flights into the sky of the EU member countries in 2013, has continued the prohibition citing poor aviation safety record of Nepal.</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:"Georgia","serif"">Here is the timeline of Nepal's aviation disasters in the last decade.</span></span></span></span></p> <p> </p> <table cellspacing="0" style="border-collapse:collapse; width:6.5in"> <tbody> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Date</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:1px solid black; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Crash</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 24, 2024</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Saurya Airlines, 18 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">July 11, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Manang Air helicopter, 6 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">January 15, 2023</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Yeti Air, 72 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">May 29, 2022</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 22 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 27, 2019</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Air Dynasty helicopter, 7 killed </span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">March 12, 2018</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">US-Bangla Airlines, 51 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 26, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Kasthamandap Airlines, 2 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 24, 2016</span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Tara Air, 23 killed</span></span></span></span></p> </td> </tr> <tr> <td style="border-bottom:1px solid black; border-left:1px solid black; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">February 16, 2014 </span></span></span></span></p> </td> <td style="border-bottom:1px solid black; border-left:none; border-right:1px solid black; border-top:none; vertical-align:top"> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Georgia","serif"">Nepal Airlines, 18</span></span></span></span></p> </td> </tr> </tbody> </table> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-25', 'keywords' => '', 'description' => '', 'sortorder' => '21354', 'image' => '20240724070148_unnamed.jpg', 'article_date' => '2024-07-24 19:00:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21627', 'article_category_id' => '1', 'title' => '18 Dead, Pilot Survives as Saurya Airlines Plane Crashes at TIA during Takeoff (with namelist)', 'sub_title' => '', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Wednesday, CAAN said that the Bombardier CRJ200 aircraft with call sign 9N-AME veered off the runway shortly after takeoff and crashed to the east side of the runway. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident happened soon after takeoff at 11.11 am. The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One of the pilots survived the crash. The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The pilot has injuries to his eyes but his life is not in any danger,” the Associated Press reported quoting a doctor at Kathmandu Medical College.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA was briefly halted as a result of the accident.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to list of casualties published by CAAN, the victims are:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Co-Pilot Sushant Katuwal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Priza Khatiwada</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Amit Man Maharjan</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sagar Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dilip Verma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Manu Raj Sharma</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Ashwin Niraula</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sudip Lal Joshi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Sarbesh Marasini</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Shyam Bindukar</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nava Raj Ale</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Raja Ram Acharya</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Uddhab Puri</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Yagya Prasad Poudyal</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Santosh Mahato</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Punya Ratna Saahi</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Adhiraj Sharma (child) </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Aref Reda (Yemeni citizen)</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21353', 'image' => '20240724032114_9d95161c.jpeg', 'article_date' => '2024-07-24 15:20:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21626', 'article_category_id' => '1', 'title' => 'Tribhuvan International Airport Resumes Operations', 'sub_title' => '', 'summary' => 'KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Tribhuvan International Airport (TIA) has resumed operations following the closure caused by a Saurya Airlines plane crash. The incident occurred at 11:11 AM on Wednesday involving Saurya Airlines flight 9N-AME (CRJ 200).</span><br /> <br /> The Civil Aviation Authority of Nepal confirmed that 18 people lost their lives in the accident. The captain of the plane, 37-year-old Manish Shakya, survived but is injured and receiving treatment at KMC Hospital.<br /> <br /> A Bhutan Air flight, which had been held in the sky, has safely landed following the reopening of the airport.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21352', 'image' => '20240724023623_2009-03_Kathmandu_10.jpg', 'article_date' => '2024-07-24 14:35:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '21622', 'article_category_id' => '1', 'title' => '18 Dead as Saurya Airlines Plane en route to Pokhara Crashes at TIA during Takeoff', 'sub_title' => 'Pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at Kathmandu Medical College', 'summary' => 'KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Eighteen individuals have lost their lives after a Saurya Airlines plane crashed at the Tribhuvan International Airport during takeoff on Wednesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane, with 19 onboard including the crew members, was headed towards Pokhara, according to the Civil Aviation Authority of Nepal (CAAN). The accident happened at around 11 am. One of the pilots survived the crash.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The pilot Manish Ratna Shakya, who sustained injuries in the accident, is undergoing treatment at the Kathmandu Medical College, said CAAN.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane had caught fire after the accident. A team of security officials and fire fighters carried out the rescue operation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Nepal Police, most of the passengers were employees at Saurya Airlines and headed to Pokhara for carrying out maintenance works.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane crashed east of runway 20 while taking off from Runway 02.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to SSP Dambar BK, the security officer at the airport, the bodies of 18 victims have been retrieved and are being prepared for transfer to the Teaching Hospital at Maharajgunj. Domestic flights at TIA have been disrupted as a result of the accident.</span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21351', 'image' => '20240724013038_80581170.jpeg', 'article_date' => '2024-07-24 13:28:55', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21621', 'article_category_id' => '1', 'title' => 'Eighteen Killed in Plane Crash at TIA (Update)', 'sub_title' => '', 'summary' => 'KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: An aircraft of Saurya Airlines wil call sing 9N-AME/CRJ200 crashed on Wednesday morning while departing from Kathmandu to Pokhara, killing 18 people on board. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The accident occurred as the plane skidded off the runway during takeoff. The aircraft fell into a base of a slope to the eastern side of the Tribhuvan International Airport’s runway and caught fire.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Senior Superintendent of Police Dambar BK informed the state-owned RSS that the bodies of 18 people on the plane were collected while they were scattered around the accident site. He said that preparations are now being made to take the collected bodies to the Tribhuvan University Teaching Hospital for post mortem. According to Superintendent of Police BK, one of the crew members of the plane was rescued alive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to media reports, Captain MR Shakya has been rushed to hospital.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The plane was heading to Pokhara with employees and technicians to repair another aircraft of Saurya Air. Domestic flights have been affected at the airport due to the crash.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21350', 'image' => '20240724125958_9d95161c.jpeg', 'article_date' => '2024-07-24 12:59:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21619', 'article_category_id' => '1', 'title' => 'India’s Decision to Reduce Customs Duty on Gold Imports Likely to Fuel Smuggling in Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: After India significantly reduced the customs duty on gold and silver, there is pressure on the Government of Nepal to adjust the rates accordingly. The reduction has made gold and silver much cheaper in India compared to Nepal, compelling the Government of Nepal to consider following New Delhi’s example.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Presenting the budget for the next fiscal year, Indian Finance Minister Nirmala Sitharaman reduced the customs duty on gold and silver imports from 15 percent to 6 percent. Conversely, the Government of Nepal announced the budget for FY 2024/25 on May 28 and increased the customs duty on gold imports from 15 percent to 20 percent. Currently, importing gold in Nepal incurs a 20 percent customs duty, while importing silver incurs a 15 percent customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Nepal's policy aims to increase the price of gold jewelry by raising the customs duty on gold imports, whereas India aims to reduce the price of gold and silver jewelry by lowering the customs duty. Gold and silver traders claim this disparity has heightened the risk of unauthorized imports through the open border.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Previously, the Indian government had increased the customs duty on gold and silver imports on January 22, raising it from 10 percent to 15 percent due to a trade deficit caused by high rates of gold imports. Six months later, they reduced the duty by 9 percentage points.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Mani Ratna Shakya, founding president of the Nepal Gold and Silver Dealers Federation, states that India's latest policy necessitates an immediate reduction in Nepal's customs duties. According to him, after India's reduction, raw gold will be cheaper in India by more than Rs 12,000 per tola (11.66 grams) and silver by more than Rs 200 per tola compared to Nepal. "Nepali customers will definitely be attracted to India when cheap gold and silver are available there," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Teja Ratna Shakya, former president of the federation, mentions that Nepal has failed to adjust customs duties on gold and silver in a timely manner. "There is a problem because there is no change in policy," Shakya told New Business Age, "The tax should not have been increased in the recently-announced budget."</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""> He indicated that due to the increase in customs duty, silver is being smuggled from India to Nepal. Shakya said that the federation will urge the Finance Minister to reduce the customs duty.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">According to Shakya, the tariff rate on gold and silver imports should be stabilized. "If we want to protect the Nepali market, a 10 percent customs duty should be imposed per 10 grams," he said.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Tax expert Dr. Chandramani Adhikari believes India's reduction in the tax on gold and silver aims to control smuggling from China through Nepal. "Demand was increasing in India and therefore gold was being smuggled. So they tried to control it by reducing tariff," he told New Business Age.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">He asserts that if India reduces the customs duty on gold and silver, smuggling from various countries through Nepal to India will decrease. Since India is a large market, a substantial amount of Nepalese foreign currency is spent when smuggling occurs. Nepal Rastra Bank suspects that smugglers are using remittances sent by Nepalis abroad to buy gold, which is then smuggled to India. The central bank has previously attributed the decline in Nepal's foreign exchange reserves to gold smuggling and high imports. Consequently, the government banned the import of certain items and imposed restrictions on gold imports two years ago.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Gold and silver traders argue that when gold is expensive, domestic customers may go to India to buy jewelry, potentially drying up the business in Nepal. According to the Federation of Nepal Gold and Silver Dealers Association, gold was traded at Rs 146,300 per tola on Tuesday.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The Department of Customs reports that gold worth Rs 23.65 billion was imported into Nepal in the last fiscal year, FY 2023/24. Economists warn that since prices in India are lower than in Nepal, there is a risk of gold smuggling from India. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">An economist stated that the government should be vigilant in monitoring and controlling smuggling. Tax experts emphasize that the Ministry of Finance and the central bank should take appropriate measures after a detailed study of the differences in customs duties between the two countries.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">A high-ranking official of the Revenue Division of the Ministry of Finance indicated that a study on the customs duties reduced by India and the rates charged in Nepal has been prepared. "After the study, the customs duty rate may be revised," said the official, adding that the Ministry of Finance plans to discuss immediate options with businessmen soon.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21348', 'image' => '20240724122937_cd5483b7.jpeg', 'article_date' => '2024-07-24 12:29:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21623', 'article_category_id' => '1', 'title' => 'Tariff Dispute: Industrialists Refuse to Pay Dues Despite Resumption of Electricity Supply', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">KATHMANDU: Nepal Electricity Authority (NEA) reconnected the electricity supply lines to six industries on Tuesday on condition that they pay the arrears within three months. However, the industrialists have not shown signs of accepting the NEA’s conditions.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Following Prime Minister KP Sharma Oli's verbal and written instructions to the Electricity Regulatory Commission, the board of directors' meeting held on Tuesday decided to reconnect the power lines with specific conditions. The board decided that if the industrialists did not pay the arrears within three months, action would be taken to recover the dues. The power lines were restored at 8 pm on Tuesday, according to Deputy Executive Director Manoj Silwal.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, the industrialists are unwilling to pay the fees according to the conditions set by the NEA. They have stated they will only pay the dues if the NEA provides bills with sufficient evidence that the industries consumed electricity from dedicated feeders and trunk lines.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"We have never said that we will not pay the arrears. However, the NEA should be able to submit the bill based on sufficient evidence," Pashupati Murarka, the owner of Arghakhanchi Cement, told New Business Age. He expressed surprise that the NEA is unwilling to provide the evidence.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Officials of the NEA claim that in addition to TOD meter data, they have other sufficient evidence. TOD meters record electricity consumption details during the day, month, and year. However, since the NEA could not protect this evidence, it has been challenging to provide sufficient proof. The NEA sent letters to 61 industries on June 24, demanding the dues for the period from January 2015 to April 2018 within 15 days.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As none of the industrialists settled the arrears by July 9, the NEA cut the electricity lines of Reliance Spinning Mills, Ghorahi Cement, and Arghakhanchi Cement on July 9. The next day, the NEA cut the lines of Jagdamba Synthetic followed by Hulas Steel and Jagdamba Steel on July 11.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the NEA, the industrialists owe Rs 6.65 billion in addition to a 25 per cent fine, amounting to about Rs 8.25 billion. Initially, the NEA had calculated that industrialists who consumed electricity from the dedicated feeder and trunk line owed Rs 21.3 billion. However, the arrears were revised after taking into consideration the recommendation of a commission formed by the government to address the dispute.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Specifically, Jagdamba Steel owes Rs 1.60 billion, Jagdamba Synthetic Rs 200 million, Reliance Spinning Mills Rs 753.7 million, Ghorahi Cement Rs 510 million, Arghakhanchi Cement Rs 440 million, and Hulas Steel Rs 140 million.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">An official of the Ministry of Energy, Water Resources and Irrigation stated that the decision to reconnect the lines was made after five out of eight board members signed the minute prepared by the executive director of the NEA, Kulman Ghising, following the meeting on Tuesday. Despite holding two meetings earlier on Monday, the decision to reconnect the lines could not be finalized.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The minutes prepared by Ghising were signed by the Energy Minister and Chairman of the Board of Directors Deepak Khadka, Managing Director and Member Secretary Ghising, and Committee members Ram Prasad Ghimire, Sarita Dawadi, and Ratan Bahadur Aire. Another member, Bharat Acharya, is out of Kathmandu and will sign the minutes upon his return, according to the source.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"Members Bhakta Bahadur Pun and Kapil Acharya refused to sign the proposal to reconnect the line," said the source. They argued that the line should not be reconnected based on the instructions given by the Regulatory Commission. "Since the line was cut based on the decision of the Council of Ministers, they believe that a decision from the Council of Ministers is required to reconnect it," the member explained.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21347', 'image' => '20240724015805_1705202780.transformor-line-bijuli.jpg', 'article_date' => '2024-07-24 13:57:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21620', 'article_category_id' => '1', 'title' => 'Saurya Air Plane Crashes at TIA ', 'sub_title' => '', 'summary' => 'KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: A Pokhara-bound Saurya Airlines aircraft met with an accident today (Wednesday) morning at the Tribhuvan International Airport in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The aircraft carrying 19 passengers including crew members skidded off the runway and caught fire. According to preliminary reports, eighteen passengers have reportedly died while the captain MR Shakya has been rushed to hospital </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Security personnel of all three security agencies were mobilized to douse the fire, said Gaurav Kumar KC, Spokesperson for the Nepalese Army. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Home Affairs Ramesh Lekhak has reached the Airport to take stock of the accident. – With inputs from RSS </span></span></span></p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21345', 'image' => '20240724123824_saurya-airlines48.jpg', 'article_date' => '2024-07-24 12:37:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => false, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21618', 'article_category_id' => '1', 'title' => 'Finance Ministry Identifies 46 Challenges of Nepal's Economy', 'sub_title' => '', 'summary' => 'KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Officials of the Ministry of Finance on Tuesday briefed Finance Minister Bishnu Prasad Poudel about the country's economic challenges and proposed measures to address these issues. "Mainly, there are 46 challenges in Nepal's economy, according to the observation of the Finance Ministry. Steps are required in 29 sectors to overcome these challenges," stated a press note issued by the ministry.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's secretaries and joint secretaries provided the minister with an overview of the country's economic status and proposed solutions. In response, Minister Poudel directed prioritizing these challenges to resolve them effectively.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Key challenges identified by the ministry officials include the slow growth rate in the economic sector compared to available resources, limited growth in savings, consumption, and investment, poor investment in the productive sector, and a significant gap in the import-export ratio. Additionally, unstable and slow economic growth, a substantial financing gap, limited gross domestic savings, and massive internal migration leading to a decreasing population trend in mountain, hill, and rural areas were highlighted as major issues.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also pointed out the limited contribution of the productive sector to economic growth, low productivity, and the declining trend of the industrial sector's contributions to the economy. Furthermore, the officials highlighted challenges such as an import-based revenue system, poor export status, a massive trade deficit, marginal growth in revenue collection and expenditure, ineffectiveness in capital expenditure, rising debts, and substantial financial liability for loan repayment.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">To address these challenges, the ministry suggested reforms in 29 sectors. These reforms should focus on ensuring effective public expenditure with prioritization, improving capacity to increase capital expenditure, emphasizing fiscal strengthening, prioritizing production-based revenue, promoting effective use of debts, reducing financing risks, boosting economic growth by creating a conducive environment for investment, and investing more in the productive sector.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry also proposed ideas for revitalizing the economy amid ongoing slowdown. These include removing internal obstacles to attract foreign direct investment (FDI), stressing the construction of hydropower projects and transmission lines, developing quality road networks, aligning rural roads with agricultural production and marketing, promoting the effectiveness of capital expenditure, and applying austerity measures in administrative costs.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Additionally, the ministry recommended focusing government investment on infrastructure development, mobilizing foreign grants and concessional loans for national priority projects, and using funds related to climate change effectively. Other suggested measures include maintaining the government's reserve fund, discouraging non-budgetary demands, ensuring loan disbursement in the productive sector, and controlling bad debts.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The ministry's officials also called for applying relaxed monetary tools to reduce the costs of fiscal tools while maintaining stability, providing project-based loans for SMEs, ensuring effective regulations of the fiscal sector, and developing a second-layer regulatory mechanism for the cooperative sector. Encouraging the use of remittance in the productive sector and implementing policy and legal reforms to increase the inflow of foreign investment were also among the proposed solutions. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21344', 'image' => '20240724114026_20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-07-24 11:39:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21617', 'article_category_id' => '1', 'title' => 'India Pledges Grant of Rs 11.20 Billion to Nepal', 'sub_title' => '', 'summary' => 'KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: The Indian government has pledged a grant of INR 7 billion (NRS 11.20 billion) to Nepal. India’s Finance Minister Nirmala Sitharaman mentioned in the annual budget presented in the parliament on Tuesday that India will provide the aforementioned grant to Nepal in the fiscal year 2024-25. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">This amount is INR 500 million (Rs 800 million) more than the revised estimate of the last fiscal year 2023-24. India had pledged to provide INR 6.50 billion (NRS 10.40 billion) to Nepal in the last fiscal year.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">India's grant to Bhutan is the highest, with a grant of INR 26.80 billion. Similarly, the budget mentions that India will provide grants of INR 5 billion to Mongolia, INR 4 billion to the Maldives, INR 2.5 billion to Myanmar, INR 2.45 billion to Sri Lanka, INR 2 billion to Afghanistan, INR 1.2 billion to Bangladesh, and INR 2 billion to African countries.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-24', 'modified' => '2024-07-24', 'keywords' => '', 'description' => '', 'sortorder' => '21343', 'image' => '20240724103002_20240107105700_Fl_600x600.jpg', 'article_date' => '2024-07-24 10:29:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $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
