The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday. The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt.…
The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday. The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt.…
November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in…
November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years.…
November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high…
November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country.…
November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about 3,000 complaints in one…
November 21: The prices of green vegetables has decreased by 88 percent within the last one…
November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative…
The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding…
The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly…
November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine…
On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on…
November 20: The Westerly wind is having its partial impact in the country at present.…
November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as…
November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research…
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The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> November 21: The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday.</span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Inaugurating the five-day event, Prime Minister Pushpa Kamal Dahal 'Prachanda' emphasized on the need of changing education system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Prime Minister Dahal said that the government had tabled the school education bill on the parliament to enhance the quality of education 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:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Similarly, Ambassador of China to Nepal Chen Song expressed the hope that the book fair would prove to be important to spread the message of civilisation, peace, development and the exchange of cross-Himalayan culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Chinese envoy noted that China was always committed to the development and progress of human civilisation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Mayor of Pokhara Metropolitan City Dhanraj Acharya urged the government to policy on book as books are of paramount significance to the people and world.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Likewise, Chairperson of the National Examinations Board (NEB) Dr Mahashram Sharma argued that big neighbours such as China and India and their reading culture could contribute to the prosperity and development of the country by promoting reading culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">On the occasion, Dr Sanduk Ruit, who has gained global reputation as eye doctor, was felicitated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">The book exhibition has 180 stalls of book publishers, producers and distributors from over 15 countries including Nepal, India, China, Bangladesh, the United States of America, and Egypt, said the Federation President Sanjaya Chaudhary. (RSS) </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19258', 'image' => '20231121053628_collage (3).jpg', 'article_date' => '2023-11-21 17:35:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19529', 'article_category_id' => '1', 'title' => 'Soaltee Westend takes over the Management of Tayo Eco Resort in Nagarkot ', 'sub_title' => '', 'summary' => 'November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. ', '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"">November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. </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 42-room resort in Nagarkot is now rebranded as 'Soaltee Westend Resort Nagarkot.'</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"">According to the agreement between Soaltee and Tayo, Tayo Eco Resort has been operated as Soaltee Westend Resort Nagarkot since November 12, informed Sudarshan Chapagain, vice president of Soaltee Hotel. He mentioned that the resort is now under the operation of the Soaltee Hotel chain.</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"">Soaltee Hotel has been operating Westend brand hotels and resorts in various locations across Nepal, and Tayo in Nagarkot is their new initiative, added Chapagain.</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"">Soaltee has expanded its brand in Nagarkot, a popular tourist destination close to Kathmandu. In recent years, Soaltee has developed Westend Soaltee, Westend Primer, Soaltee Westend Resort, and Soaltee Westend as its new chain brands. Soaltee Westend Resort has already expanded its services in Chitwan and has added Nagarkot as its new serving destination.</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 resort in Nagarkot consists of ten villas and is claimed to be an eco-friendly property. Similarly, the resort reflects traditional Newari culture and offers facilities such as a family room, pool, bar, parking, and spa. Suite rooms in the resort are under construction, while Deluxe rooms are already ready. Additionally, guests at the resort can enjoy biking, hiking, and visiting the local 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:"Arial","sans-serif"">Tayo, now Soaltee Westend in Nagarkot, commenced its services last year with an investment of more than Rs 1 billion. Soaltee Hotel Limited, providing hospitality services for almost five and a half decades, has also been offering its services in Nepalgunj, Itahari, and Chitwan.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19257', 'image' => '20231121015734_Fp8NBKtaIAE6ODk.jpg', 'article_date' => '2023-11-21 13:55:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19528', 'article_category_id' => '1', 'title' => 'Shares of Nepal Airlines Continuously Declining since 2020', 'sub_title' => '', 'summary' => 'November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. The market shares of Nepal Airlines, which had increased for seven years until </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has continuously dropped in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The annual report of FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">published by the NAC mentions that the market shares of Nepal Airlines reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag carrier of Nepal, which has been providing flight services both domestically and internationally, is losing its market shares due to its inability to properly manage the aircraft it has and create a suitable strategy. The market shares of some private sector air service provider companies which started operating later than the NAC has reached more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The market shares of rest of the airline companies are also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The quality of service provided by the NAC is poor compared to others. There are complaints of delay in flights while the NAC takes months to repair the engine, and faces frequent technical problems. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the report that the number of aircraft is inadequate and the service provided is not of good quality, so the market shares have dropped. Nepal Airlines, which once flew to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> domestic destinations, now flies to a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> destinations. The number of international destinations has also decreased to nine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the market shares of the NAC increased due to the non-operation of other aircraft due to Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Airlines, which has been serving for decades, has been losing its market shares due to its inability to implement the right strategy in both domestic and international flights and its failure to attract more customers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although reports have been prepared several times with recommendations regarding the structural reforms of the NAC, market expansion and strategy, the market shares and income have decreased instead of increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NAC, which frequently cancels flights, has mentioned in the report that the flights are delayed due to bad weather, technical problems as well as engineering and other reasons. The NAC currently has two Twin Otter aircraft which it uses to operate domestic flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag-carrier of Nepal has been flying to nine destinations in seven countries with four Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to compete with the private sector airline companies, the NAC some years ago purchased six Chinese aircraft for domestic flights under grant and loan assistance. At present, those aircraft are grounded and cannot be sold either. According to the report published by the NAC, the average usage of its aircraft is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hours per day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal Airlines served </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">629</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">147</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers during </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">768</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> international flights to various destinations. Nepal Airlines has earned the most revenue from flights to Bangkok (Thailand), New Delhi (India), Kuala Lumpur (Malaysia), Doha (Qatar), Dubai (the United Arab Emirates), Hong Kong (China), and Mumbai (India).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the company earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of its income from the Bangkok flights while providing cargo services. In the Bangkok sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the revenue is generated from passengers. Dubai is the lowest earning sector. By providing flight services in this sector, Nepal Airlines earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent income from both passengers and cargo in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the domestic flight segment, the service of Nepal Airlines is very poor. Last year, the corporation served a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic passengers. The number of people taking the air service is low because there are fewer aircraft and the existing aircraft cannot be operated in an orderly manner. Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has announced government’s plan to purchase </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft for domestic flights.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19256', 'image' => '20231121015002_1700527556.1692446817.चब.jpg', 'article_date' => '2023-11-21 13:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19527', 'article_category_id' => '1', 'title' => 'InDrive to Invest up to US$100 Million in Promising Startups', 'sub_title' => '', 'summary' => 'November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential. </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:"Nirmala UI","sans-serif"">The company has handed over the leadership of New Ventures Investment to InDrive Vice President Andrew Smith. The company has also set certain criteria for investment. The company says that the startups seeking investment should have plans for social justice and raising the living standards of individuals and communities. Also, the local startups with the potential for global expansion will be given preference, said InDrive.</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:"Nirmala UI","sans-serif"">The company informed that startups that have already been established in the market will be prioritized. </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:"Nirmala UI","sans-serif"">Vice President Andrew Smith said that by investing in companies capable of making innovations that improve people's lives, they will help expand the capacity and reach of such companies. </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:"Nirmala UI","sans-serif"">Mark Larkin, president of InDrive, said the main objective of the New Ventures Investment is to identify startups outside of traditional innovation hubs that have been overlooked but have high growth potential.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19255', 'image' => '20231121122328_inDrive.jpg', 'article_date' => '2023-11-21 12:22:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19526', 'article_category_id' => '1', 'title' => 'NRB Tightens the Screws on Digital Wallet Companies', 'sub_title' => '', 'summary' => 'November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">related to payment services on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19254', 'image' => '20231121122349_cashless-digital-money-e-sewa.jpg', 'article_date' => '2023-11-21 12:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19525', 'article_category_id' => '1', 'title' => 'General Public Files 3,000 Complaints against Bank', 'sub_title' => '', 'summary' => 'November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about 3,000 complaints in one year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints in one year. The common people have registered complaints with the Nepal Rastra Bank against the banks regarding interest rates, service charges and other issues after the central bank facilitated in registering the complaints and started taking effective actions against the banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,903</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints were registered by the general public through various means in the last fiscal year (FY). According to the central bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,646</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints have been resolved and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">257</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints are in the process of being addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has said that most of the complaints of the common people are about the interest rate (premium) charged by banks on loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have also complained about the fees charged by the banks and their refusal to blacklist defaulters not being included in the blacklist.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another complaint is that of non-payment of bank guarantee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Nepal Rastra Bank has established a Financial Customer Protection Unit and has been dealing with complaints made by the general public about the services of banks and financial institutions. The central bank has also been operating a separate online portal since May </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">21 to make it easy for the general public to file complaints. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, arrangements have been made to submit complaints in writing, by email and by telephone and in person at the Nepal Rastra Bank. The central bank has also arranged a hotline service for registering complaints.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Of late, as the general public's complaints against microfinance institutions have started to increase, a separate complaint desk has also been set up in the Microfinance Institutions Supervision Department of NRB. Complaints filed against the bank through the government and other means are also sent to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has formed a Grievance Hearing Committee under the coordination of a Senior Deputy Governor of Nepal Rastra Bank to hear the complaints received from the customers according to the provisions of the Financial Customer Protection and Grievance Management Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The members of the committee include Deputy Governor, Executive Director of Banks and Financial Institution Regulation Department and Bank Supervision Department, Joint Secretary of the Ministry of Finance, President of Nepal Bankers Association, and a representative from the Federation of Nepal Chamber of Commerce and Industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, there is a provision that a maximum of four experts from related departments and agencies can be invited to the meeting based on the nature/topic of the complaint to be discussed in the committee where the director of the Banks and Financial Institutions Regulation Department is a member secretary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision that the concerned department of the central bank will take the initiative to solve the complaints received from the general public and if it is not resolved, it will be sent to the committee.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19253', 'image' => '20231121121737_Bankkk.jpg', 'article_date' => '2023-11-21 12:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19524', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Decreased by 88 Percent within a Month', 'sub_title' => '', 'summary' => 'November 21: The prices of green vegetables has decreased by 88 percent within the last one month.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The prices of green vegetables has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent within the last one month. According to the data of the Kalimati Fruit and Vegetable Market Development Committee, the prices of most of the locally-produced vegetables such as cauliflower, potato, cabbage, carrot, radish, gourd, beans, pumpkin, and green spinach have decreased sharply. The prices have dropped due to increase in production and supply of these vegetables in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee's daily price list, the price of local cauliflower has fallen the most. The price of local cauliflower, which was being sold for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">112</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on October 20, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of carrot, which was being sold at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">106</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> a month ago, has come down to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. The price of local radish, which was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at that time, has fallen to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Similarly, the price of beans, which was traded at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">266</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binay Shrestha, information officer of the committee, said that the prices of vegetables grown by local farmers targeting the festival of Tihar have arrived in the market all at once due to which the prices have taken a nosedive. According to him, the prices of vegetables such as cauliflower, radish and cabbage have started to decrease. He informed that the supply of local vegetables such as cauliflower, gourd and pumpkin has almost doubled compared to a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">775 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of local cauliflower was imported into the Kalimati market on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">67</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of cabbage was imported in Kalimati on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">700 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the supply of green spinach has also increased from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19252', 'image' => '20231121112145_20200806125217_1595453904.Clipboard03(1).jpg', 'article_date' => '2023-11-21 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19523', 'article_category_id' => '1', 'title' => 'Government Seeks Measures to Address Economic Crisis ', 'sub_title' => '', 'summary' => 'November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented as soon as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also signed a grant agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Mahat announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the current fiscal year. So far </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first four months of the current fiscal year, the government has already taken internal loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', '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
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The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> November 21: The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday.</span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Inaugurating the five-day event, Prime Minister Pushpa Kamal Dahal 'Prachanda' emphasized on the need of changing education system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Prime Minister Dahal said that the government had tabled the school education bill on the parliament to enhance the quality of education 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:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Similarly, Ambassador of China to Nepal Chen Song expressed the hope that the book fair would prove to be important to spread the message of civilisation, peace, development and the exchange of cross-Himalayan culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Chinese envoy noted that China was always committed to the development and progress of human civilisation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Mayor of Pokhara Metropolitan City Dhanraj Acharya urged the government to policy on book as books are of paramount significance to the people and world.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Likewise, Chairperson of the National Examinations Board (NEB) Dr Mahashram Sharma argued that big neighbours such as China and India and their reading culture could contribute to the prosperity and development of the country by promoting reading culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">On the occasion, Dr Sanduk Ruit, who has gained global reputation as eye doctor, was felicitated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">The book exhibition has 180 stalls of book publishers, producers and distributors from over 15 countries including Nepal, India, China, Bangladesh, the United States of America, and Egypt, said the Federation President Sanjaya Chaudhary. (RSS) </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19258', 'image' => '20231121053628_collage (3).jpg', 'article_date' => '2023-11-21 17:35:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19529', 'article_category_id' => '1', 'title' => 'Soaltee Westend takes over the Management of Tayo Eco Resort in Nagarkot ', 'sub_title' => '', 'summary' => 'November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. ', '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"">November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. </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 42-room resort in Nagarkot is now rebranded as 'Soaltee Westend Resort Nagarkot.'</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"">According to the agreement between Soaltee and Tayo, Tayo Eco Resort has been operated as Soaltee Westend Resort Nagarkot since November 12, informed Sudarshan Chapagain, vice president of Soaltee Hotel. He mentioned that the resort is now under the operation of the Soaltee Hotel chain.</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"">Soaltee Hotel has been operating Westend brand hotels and resorts in various locations across Nepal, and Tayo in Nagarkot is their new initiative, added Chapagain.</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"">Soaltee has expanded its brand in Nagarkot, a popular tourist destination close to Kathmandu. In recent years, Soaltee has developed Westend Soaltee, Westend Primer, Soaltee Westend Resort, and Soaltee Westend as its new chain brands. Soaltee Westend Resort has already expanded its services in Chitwan and has added Nagarkot as its new serving destination.</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 resort in Nagarkot consists of ten villas and is claimed to be an eco-friendly property. Similarly, the resort reflects traditional Newari culture and offers facilities such as a family room, pool, bar, parking, and spa. Suite rooms in the resort are under construction, while Deluxe rooms are already ready. Additionally, guests at the resort can enjoy biking, hiking, and visiting the local 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:"Arial","sans-serif"">Tayo, now Soaltee Westend in Nagarkot, commenced its services last year with an investment of more than Rs 1 billion. Soaltee Hotel Limited, providing hospitality services for almost five and a half decades, has also been offering its services in Nepalgunj, Itahari, and Chitwan.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19257', 'image' => '20231121015734_Fp8NBKtaIAE6ODk.jpg', 'article_date' => '2023-11-21 13:55:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19528', 'article_category_id' => '1', 'title' => 'Shares of Nepal Airlines Continuously Declining since 2020', 'sub_title' => '', 'summary' => 'November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. The market shares of Nepal Airlines, which had increased for seven years until </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has continuously dropped in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The annual report of FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">published by the NAC mentions that the market shares of Nepal Airlines reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag carrier of Nepal, which has been providing flight services both domestically and internationally, is losing its market shares due to its inability to properly manage the aircraft it has and create a suitable strategy. The market shares of some private sector air service provider companies which started operating later than the NAC has reached more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The market shares of rest of the airline companies are also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The quality of service provided by the NAC is poor compared to others. There are complaints of delay in flights while the NAC takes months to repair the engine, and faces frequent technical problems. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the report that the number of aircraft is inadequate and the service provided is not of good quality, so the market shares have dropped. Nepal Airlines, which once flew to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> domestic destinations, now flies to a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> destinations. The number of international destinations has also decreased to nine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the market shares of the NAC increased due to the non-operation of other aircraft due to Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Airlines, which has been serving for decades, has been losing its market shares due to its inability to implement the right strategy in both domestic and international flights and its failure to attract more customers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although reports have been prepared several times with recommendations regarding the structural reforms of the NAC, market expansion and strategy, the market shares and income have decreased instead of increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NAC, which frequently cancels flights, has mentioned in the report that the flights are delayed due to bad weather, technical problems as well as engineering and other reasons. The NAC currently has two Twin Otter aircraft which it uses to operate domestic flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag-carrier of Nepal has been flying to nine destinations in seven countries with four Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to compete with the private sector airline companies, the NAC some years ago purchased six Chinese aircraft for domestic flights under grant and loan assistance. At present, those aircraft are grounded and cannot be sold either. According to the report published by the NAC, the average usage of its aircraft is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hours per day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal Airlines served </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">629</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">147</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers during </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">768</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> international flights to various destinations. Nepal Airlines has earned the most revenue from flights to Bangkok (Thailand), New Delhi (India), Kuala Lumpur (Malaysia), Doha (Qatar), Dubai (the United Arab Emirates), Hong Kong (China), and Mumbai (India).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the company earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of its income from the Bangkok flights while providing cargo services. In the Bangkok sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the revenue is generated from passengers. Dubai is the lowest earning sector. By providing flight services in this sector, Nepal Airlines earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent income from both passengers and cargo in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the domestic flight segment, the service of Nepal Airlines is very poor. Last year, the corporation served a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic passengers. The number of people taking the air service is low because there are fewer aircraft and the existing aircraft cannot be operated in an orderly manner. Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has announced government’s plan to purchase </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft for domestic flights.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19256', 'image' => '20231121015002_1700527556.1692446817.चब.jpg', 'article_date' => '2023-11-21 13:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19527', 'article_category_id' => '1', 'title' => 'InDrive to Invest up to US$100 Million in Promising Startups', 'sub_title' => '', 'summary' => 'November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential. </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:"Nirmala UI","sans-serif"">The company has handed over the leadership of New Ventures Investment to InDrive Vice President Andrew Smith. The company has also set certain criteria for investment. The company says that the startups seeking investment should have plans for social justice and raising the living standards of individuals and communities. Also, the local startups with the potential for global expansion will be given preference, said InDrive.</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:"Nirmala UI","sans-serif"">The company informed that startups that have already been established in the market will be prioritized. </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:"Nirmala UI","sans-serif"">Vice President Andrew Smith said that by investing in companies capable of making innovations that improve people's lives, they will help expand the capacity and reach of such companies. </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:"Nirmala UI","sans-serif"">Mark Larkin, president of InDrive, said the main objective of the New Ventures Investment is to identify startups outside of traditional innovation hubs that have been overlooked but have high growth potential.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19255', 'image' => '20231121122328_inDrive.jpg', 'article_date' => '2023-11-21 12:22:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19526', 'article_category_id' => '1', 'title' => 'NRB Tightens the Screws on Digital Wallet Companies', 'sub_title' => '', 'summary' => 'November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">related to payment services on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19254', 'image' => '20231121122349_cashless-digital-money-e-sewa.jpg', 'article_date' => '2023-11-21 12:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19525', 'article_category_id' => '1', 'title' => 'General Public Files 3,000 Complaints against Bank', 'sub_title' => '', 'summary' => 'November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about 3,000 complaints in one year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints in one year. The common people have registered complaints with the Nepal Rastra Bank against the banks regarding interest rates, service charges and other issues after the central bank facilitated in registering the complaints and started taking effective actions against the banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,903</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints were registered by the general public through various means in the last fiscal year (FY). According to the central bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,646</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints have been resolved and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">257</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints are in the process of being addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has said that most of the complaints of the common people are about the interest rate (premium) charged by banks on loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have also complained about the fees charged by the banks and their refusal to blacklist defaulters not being included in the blacklist.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another complaint is that of non-payment of bank guarantee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Nepal Rastra Bank has established a Financial Customer Protection Unit and has been dealing with complaints made by the general public about the services of banks and financial institutions. The central bank has also been operating a separate online portal since May </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">21 to make it easy for the general public to file complaints. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, arrangements have been made to submit complaints in writing, by email and by telephone and in person at the Nepal Rastra Bank. The central bank has also arranged a hotline service for registering complaints.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Of late, as the general public's complaints against microfinance institutions have started to increase, a separate complaint desk has also been set up in the Microfinance Institutions Supervision Department of NRB. Complaints filed against the bank through the government and other means are also sent to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has formed a Grievance Hearing Committee under the coordination of a Senior Deputy Governor of Nepal Rastra Bank to hear the complaints received from the customers according to the provisions of the Financial Customer Protection and Grievance Management Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The members of the committee include Deputy Governor, Executive Director of Banks and Financial Institution Regulation Department and Bank Supervision Department, Joint Secretary of the Ministry of Finance, President of Nepal Bankers Association, and a representative from the Federation of Nepal Chamber of Commerce and Industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, there is a provision that a maximum of four experts from related departments and agencies can be invited to the meeting based on the nature/topic of the complaint to be discussed in the committee where the director of the Banks and Financial Institutions Regulation Department is a member secretary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision that the concerned department of the central bank will take the initiative to solve the complaints received from the general public and if it is not resolved, it will be sent to the committee.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19253', 'image' => '20231121121737_Bankkk.jpg', 'article_date' => '2023-11-21 12:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19524', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Decreased by 88 Percent within a Month', 'sub_title' => '', 'summary' => 'November 21: The prices of green vegetables has decreased by 88 percent within the last one month.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The prices of green vegetables has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent within the last one month. According to the data of the Kalimati Fruit and Vegetable Market Development Committee, the prices of most of the locally-produced vegetables such as cauliflower, potato, cabbage, carrot, radish, gourd, beans, pumpkin, and green spinach have decreased sharply. The prices have dropped due to increase in production and supply of these vegetables in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee's daily price list, the price of local cauliflower has fallen the most. The price of local cauliflower, which was being sold for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">112</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on October 20, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of carrot, which was being sold at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">106</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> a month ago, has come down to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. The price of local radish, which was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at that time, has fallen to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Similarly, the price of beans, which was traded at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">266</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binay Shrestha, information officer of the committee, said that the prices of vegetables grown by local farmers targeting the festival of Tihar have arrived in the market all at once due to which the prices have taken a nosedive. According to him, the prices of vegetables such as cauliflower, radish and cabbage have started to decrease. He informed that the supply of local vegetables such as cauliflower, gourd and pumpkin has almost doubled compared to a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">775 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of local cauliflower was imported into the Kalimati market on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">67</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of cabbage was imported in Kalimati on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">700 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the supply of green spinach has also increased from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19252', 'image' => '20231121112145_20200806125217_1595453904.Clipboard03(1).jpg', 'article_date' => '2023-11-21 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19523', 'article_category_id' => '1', 'title' => 'Government Seeks Measures to Address Economic Crisis ', 'sub_title' => '', 'summary' => 'November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented as soon as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also signed a grant agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Mahat announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the current fiscal year. So far </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first four months of the current fiscal year, the government has already taken internal loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', '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' => '19530', 'article_category_id' => '1', 'title' => 'South Asia International Book Fair kicks off in Kathmandu', 'sub_title' => '', 'summary' => 'The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday. The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> November 21: The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday.</span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Inaugurating the five-day event, Prime Minister Pushpa Kamal Dahal 'Prachanda' emphasized on the need of changing education system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Prime Minister Dahal said that the government had tabled the school education bill on the parliament to enhance the quality of education 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:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Similarly, Ambassador of China to Nepal Chen Song expressed the hope that the book fair would prove to be important to spread the message of civilisation, peace, development and the exchange of cross-Himalayan culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Chinese envoy noted that China was always committed to the development and progress of human civilisation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Mayor of Pokhara Metropolitan City Dhanraj Acharya urged the government to policy on book as books are of paramount significance to the people and world.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Likewise, Chairperson of the National Examinations Board (NEB) Dr Mahashram Sharma argued that big neighbours such as China and India and their reading culture could contribute to the prosperity and development of the country by promoting reading culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">On the occasion, Dr Sanduk Ruit, who has gained global reputation as eye doctor, was felicitated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">The book exhibition has 180 stalls of book publishers, producers and distributors from over 15 countries including Nepal, India, China, Bangladesh, the United States of America, and Egypt, said the Federation President Sanjaya Chaudhary. (RSS) </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19258', 'image' => '20231121053628_collage (3).jpg', 'article_date' => '2023-11-21 17:35:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19529', 'article_category_id' => '1', 'title' => 'Soaltee Westend takes over the Management of Tayo Eco Resort in Nagarkot ', 'sub_title' => '', 'summary' => 'November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. ', '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"">November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. </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 42-room resort in Nagarkot is now rebranded as 'Soaltee Westend Resort Nagarkot.'</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"">According to the agreement between Soaltee and Tayo, Tayo Eco Resort has been operated as Soaltee Westend Resort Nagarkot since November 12, informed Sudarshan Chapagain, vice president of Soaltee Hotel. He mentioned that the resort is now under the operation of the Soaltee Hotel chain.</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"">Soaltee Hotel has been operating Westend brand hotels and resorts in various locations across Nepal, and Tayo in Nagarkot is their new initiative, added Chapagain.</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"">Soaltee has expanded its brand in Nagarkot, a popular tourist destination close to Kathmandu. In recent years, Soaltee has developed Westend Soaltee, Westend Primer, Soaltee Westend Resort, and Soaltee Westend as its new chain brands. Soaltee Westend Resort has already expanded its services in Chitwan and has added Nagarkot as its new serving destination.</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 resort in Nagarkot consists of ten villas and is claimed to be an eco-friendly property. Similarly, the resort reflects traditional Newari culture and offers facilities such as a family room, pool, bar, parking, and spa. Suite rooms in the resort are under construction, while Deluxe rooms are already ready. Additionally, guests at the resort can enjoy biking, hiking, and visiting the local 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:"Arial","sans-serif"">Tayo, now Soaltee Westend in Nagarkot, commenced its services last year with an investment of more than Rs 1 billion. Soaltee Hotel Limited, providing hospitality services for almost five and a half decades, has also been offering its services in Nepalgunj, Itahari, and Chitwan.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19257', 'image' => '20231121015734_Fp8NBKtaIAE6ODk.jpg', 'article_date' => '2023-11-21 13:55:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19528', 'article_category_id' => '1', 'title' => 'Shares of Nepal Airlines Continuously Declining since 2020', 'sub_title' => '', 'summary' => 'November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. The market shares of Nepal Airlines, which had increased for seven years until </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has continuously dropped in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The annual report of FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">published by the NAC mentions that the market shares of Nepal Airlines reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag carrier of Nepal, which has been providing flight services both domestically and internationally, is losing its market shares due to its inability to properly manage the aircraft it has and create a suitable strategy. The market shares of some private sector air service provider companies which started operating later than the NAC has reached more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The market shares of rest of the airline companies are also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The quality of service provided by the NAC is poor compared to others. There are complaints of delay in flights while the NAC takes months to repair the engine, and faces frequent technical problems. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the report that the number of aircraft is inadequate and the service provided is not of good quality, so the market shares have dropped. Nepal Airlines, which once flew to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> domestic destinations, now flies to a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> destinations. The number of international destinations has also decreased to nine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the market shares of the NAC increased due to the non-operation of other aircraft due to Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Airlines, which has been serving for decades, has been losing its market shares due to its inability to implement the right strategy in both domestic and international flights and its failure to attract more customers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although reports have been prepared several times with recommendations regarding the structural reforms of the NAC, market expansion and strategy, the market shares and income have decreased instead of increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NAC, which frequently cancels flights, has mentioned in the report that the flights are delayed due to bad weather, technical problems as well as engineering and other reasons. The NAC currently has two Twin Otter aircraft which it uses to operate domestic flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag-carrier of Nepal has been flying to nine destinations in seven countries with four Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to compete with the private sector airline companies, the NAC some years ago purchased six Chinese aircraft for domestic flights under grant and loan assistance. At present, those aircraft are grounded and cannot be sold either. According to the report published by the NAC, the average usage of its aircraft is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hours per day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal Airlines served </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">629</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">147</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers during </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">768</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> international flights to various destinations. Nepal Airlines has earned the most revenue from flights to Bangkok (Thailand), New Delhi (India), Kuala Lumpur (Malaysia), Doha (Qatar), Dubai (the United Arab Emirates), Hong Kong (China), and Mumbai (India).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the company earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of its income from the Bangkok flights while providing cargo services. In the Bangkok sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the revenue is generated from passengers. Dubai is the lowest earning sector. By providing flight services in this sector, Nepal Airlines earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent income from both passengers and cargo in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the domestic flight segment, the service of Nepal Airlines is very poor. Last year, the corporation served a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic passengers. The number of people taking the air service is low because there are fewer aircraft and the existing aircraft cannot be operated in an orderly manner. Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has announced government’s plan to purchase </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft for domestic flights.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19256', 'image' => '20231121015002_1700527556.1692446817.चब.jpg', 'article_date' => '2023-11-21 13:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19527', 'article_category_id' => '1', 'title' => 'InDrive to Invest up to US$100 Million in Promising Startups', 'sub_title' => '', 'summary' => 'November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential. </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:"Nirmala UI","sans-serif"">The company has handed over the leadership of New Ventures Investment to InDrive Vice President Andrew Smith. The company has also set certain criteria for investment. The company says that the startups seeking investment should have plans for social justice and raising the living standards of individuals and communities. Also, the local startups with the potential for global expansion will be given preference, said InDrive.</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:"Nirmala UI","sans-serif"">The company informed that startups that have already been established in the market will be prioritized. </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:"Nirmala UI","sans-serif"">Vice President Andrew Smith said that by investing in companies capable of making innovations that improve people's lives, they will help expand the capacity and reach of such companies. </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:"Nirmala UI","sans-serif"">Mark Larkin, president of InDrive, said the main objective of the New Ventures Investment is to identify startups outside of traditional innovation hubs that have been overlooked but have high growth potential.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19255', 'image' => '20231121122328_inDrive.jpg', 'article_date' => '2023-11-21 12:22:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19526', 'article_category_id' => '1', 'title' => 'NRB Tightens the Screws on Digital Wallet Companies', 'sub_title' => '', 'summary' => 'November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">related to payment services on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19254', 'image' => '20231121122349_cashless-digital-money-e-sewa.jpg', 'article_date' => '2023-11-21 12:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19525', 'article_category_id' => '1', 'title' => 'General Public Files 3,000 Complaints against Bank', 'sub_title' => '', 'summary' => 'November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about 3,000 complaints in one year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints in one year. The common people have registered complaints with the Nepal Rastra Bank against the banks regarding interest rates, service charges and other issues after the central bank facilitated in registering the complaints and started taking effective actions against the banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,903</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints were registered by the general public through various means in the last fiscal year (FY). According to the central bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,646</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints have been resolved and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">257</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints are in the process of being addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has said that most of the complaints of the common people are about the interest rate (premium) charged by banks on loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have also complained about the fees charged by the banks and their refusal to blacklist defaulters not being included in the blacklist.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another complaint is that of non-payment of bank guarantee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Nepal Rastra Bank has established a Financial Customer Protection Unit and has been dealing with complaints made by the general public about the services of banks and financial institutions. The central bank has also been operating a separate online portal since May </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">21 to make it easy for the general public to file complaints. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, arrangements have been made to submit complaints in writing, by email and by telephone and in person at the Nepal Rastra Bank. The central bank has also arranged a hotline service for registering complaints.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Of late, as the general public's complaints against microfinance institutions have started to increase, a separate complaint desk has also been set up in the Microfinance Institutions Supervision Department of NRB. Complaints filed against the bank through the government and other means are also sent to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has formed a Grievance Hearing Committee under the coordination of a Senior Deputy Governor of Nepal Rastra Bank to hear the complaints received from the customers according to the provisions of the Financial Customer Protection and Grievance Management Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The members of the committee include Deputy Governor, Executive Director of Banks and Financial Institution Regulation Department and Bank Supervision Department, Joint Secretary of the Ministry of Finance, President of Nepal Bankers Association, and a representative from the Federation of Nepal Chamber of Commerce and Industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, there is a provision that a maximum of four experts from related departments and agencies can be invited to the meeting based on the nature/topic of the complaint to be discussed in the committee where the director of the Banks and Financial Institutions Regulation Department is a member secretary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision that the concerned department of the central bank will take the initiative to solve the complaints received from the general public and if it is not resolved, it will be sent to the committee.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19253', 'image' => '20231121121737_Bankkk.jpg', 'article_date' => '2023-11-21 12:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19524', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Decreased by 88 Percent within a Month', 'sub_title' => '', 'summary' => 'November 21: The prices of green vegetables has decreased by 88 percent within the last one month.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The prices of green vegetables has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent within the last one month. According to the data of the Kalimati Fruit and Vegetable Market Development Committee, the prices of most of the locally-produced vegetables such as cauliflower, potato, cabbage, carrot, radish, gourd, beans, pumpkin, and green spinach have decreased sharply. The prices have dropped due to increase in production and supply of these vegetables in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee's daily price list, the price of local cauliflower has fallen the most. The price of local cauliflower, which was being sold for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">112</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on October 20, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of carrot, which was being sold at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">106</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> a month ago, has come down to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. The price of local radish, which was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at that time, has fallen to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Similarly, the price of beans, which was traded at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">266</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binay Shrestha, information officer of the committee, said that the prices of vegetables grown by local farmers targeting the festival of Tihar have arrived in the market all at once due to which the prices have taken a nosedive. According to him, the prices of vegetables such as cauliflower, radish and cabbage have started to decrease. He informed that the supply of local vegetables such as cauliflower, gourd and pumpkin has almost doubled compared to a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">775 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of local cauliflower was imported into the Kalimati market on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">67</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of cabbage was imported in Kalimati on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">700 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the supply of green spinach has also increased from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19252', 'image' => '20231121112145_20200806125217_1595453904.Clipboard03(1).jpg', 'article_date' => '2023-11-21 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19523', 'article_category_id' => '1', 'title' => 'Government Seeks Measures to Address Economic Crisis ', 'sub_title' => '', 'summary' => 'November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented as soon as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also signed a grant agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Mahat announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the current fiscal year. So far </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first four months of the current fiscal year, the government has already taken internal loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', '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
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The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> November 21: The South Asia International Book Fair 2023 kicked off in Kathmandu on Tuesday.</span></span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif"> The event was jointly organized by the Federation of Nepal Books and Stationery Business and the Current Media and Research Centre Pvt. Ltd.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Inaugurating the five-day event, Prime Minister Pushpa Kamal Dahal 'Prachanda' emphasized on the need of changing education system.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Prime Minister Dahal said that the government had tabled the school education bill on the parliament to enhance the quality of education 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:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Similarly, Ambassador of China to Nepal Chen Song expressed the hope that the book fair would prove to be important to spread the message of civilisation, peace, development and the exchange of cross-Himalayan culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Chinese envoy noted that China was always committed to the development and progress of human civilisation. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Mayor of Pokhara Metropolitan City Dhanraj Acharya urged the government to policy on book as books are of paramount significance to the people and world.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">Likewise, Chairperson of the National Examinations Board (NEB) Dr Mahashram Sharma argued that big neighbours such as China and India and their reading culture could contribute to the prosperity and development of the country by promoting reading culture. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">On the occasion, Dr Sanduk Ruit, who has gained global reputation as eye doctor, was felicitated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.5pt"><span style="font-family:"Segoe UI",sans-serif">The book exhibition has 180 stalls of book publishers, producers and distributors from over 15 countries including Nepal, India, China, Bangladesh, the United States of America, and Egypt, said the Federation President Sanjaya Chaudhary. (RSS) </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19258', 'image' => '20231121053628_collage (3).jpg', 'article_date' => '2023-11-21 17:35:09', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '19529', 'article_category_id' => '1', 'title' => 'Soaltee Westend takes over the Management of Tayo Eco Resort in Nagarkot ', 'sub_title' => '', 'summary' => 'November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. ', '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"">November 21: Soaltee Hotel Limited, a reputable Nepali hotel and resort chain operating under various brands in the hospitality sector, has assumed the management of Tayo Eco Resort in Nagarkot. </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 42-room resort in Nagarkot is now rebranded as 'Soaltee Westend Resort Nagarkot.'</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"">According to the agreement between Soaltee and Tayo, Tayo Eco Resort has been operated as Soaltee Westend Resort Nagarkot since November 12, informed Sudarshan Chapagain, vice president of Soaltee Hotel. He mentioned that the resort is now under the operation of the Soaltee Hotel chain.</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"">Soaltee Hotel has been operating Westend brand hotels and resorts in various locations across Nepal, and Tayo in Nagarkot is their new initiative, added Chapagain.</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"">Soaltee has expanded its brand in Nagarkot, a popular tourist destination close to Kathmandu. In recent years, Soaltee has developed Westend Soaltee, Westend Primer, Soaltee Westend Resort, and Soaltee Westend as its new chain brands. Soaltee Westend Resort has already expanded its services in Chitwan and has added Nagarkot as its new serving destination.</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 resort in Nagarkot consists of ten villas and is claimed to be an eco-friendly property. Similarly, the resort reflects traditional Newari culture and offers facilities such as a family room, pool, bar, parking, and spa. Suite rooms in the resort are under construction, while Deluxe rooms are already ready. Additionally, guests at the resort can enjoy biking, hiking, and visiting the local 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:"Arial","sans-serif"">Tayo, now Soaltee Westend in Nagarkot, commenced its services last year with an investment of more than Rs 1 billion. Soaltee Hotel Limited, providing hospitality services for almost five and a half decades, has also been offering its services in Nepalgunj, Itahari, and Chitwan.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19257', 'image' => '20231121015734_Fp8NBKtaIAE6ODk.jpg', 'article_date' => '2023-11-21 13:55:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '19528', 'article_category_id' => '1', 'title' => 'Shares of Nepal Airlines Continuously Declining since 2020', 'sub_title' => '', 'summary' => 'November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The shares of the state-owned Nepal Airlines Corporation (NAC) has been continuously decreasing for the last two years. The market shares of Nepal Airlines, which had increased for seven years until </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, has continuously dropped in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The annual report of FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">published by the NAC mentions that the market shares of Nepal Airlines reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, decreased to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2021</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">16.56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag carrier of Nepal, which has been providing flight services both domestically and internationally, is losing its market shares due to its inability to properly manage the aircraft it has and create a suitable strategy. The market shares of some private sector air service provider companies which started operating later than the NAC has reached more than </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">55</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. The market shares of rest of the airline companies are also increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The quality of service provided by the NAC is poor compared to others. There are complaints of delay in flights while the NAC takes months to repair the engine, and faces frequent technical problems. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the report that the number of aircraft is inadequate and the service provided is not of good quality, so the market shares have dropped. Nepal Airlines, which once flew to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> domestic destinations, now flies to a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> destinations. The number of international destinations has also decreased to nine.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2020</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the market shares of the NAC increased due to the non-operation of other aircraft due to Covid-</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Airlines, which has been serving for decades, has been losing its market shares due to its inability to implement the right strategy in both domestic and international flights and its failure to attract more customers. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Although reports have been prepared several times with recommendations regarding the structural reforms of the NAC, market expansion and strategy, the market shares and income have decreased instead of increasing.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NAC, which frequently cancels flights, has mentioned in the report that the flights are delayed due to bad weather, technical problems as well as engineering and other reasons. The NAC currently has two Twin Otter aircraft which it uses to operate domestic flights.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The flag-carrier of Nepal has been flying to nine destinations in seven countries with four Airbus.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to compete with the private sector airline companies, the NAC some years ago purchased six Chinese aircraft for domestic flights under grant and loan assistance. At present, those aircraft are grounded and cannot be sold either. According to the report published by the NAC, the average usage of its aircraft is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13.6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> hours per day.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Nepal Airlines served </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">629</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">147</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> passengers during </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">768</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> international flights to various destinations. Nepal Airlines has earned the most revenue from flights to Bangkok (Thailand), New Delhi (India), Kuala Lumpur (Malaysia), Doha (Qatar), Dubai (the United Arab Emirates), Hong Kong (China), and Mumbai (India).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the company earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">98</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of its income from the Bangkok flights while providing cargo services. In the Bangkok sector, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">39</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the revenue is generated from passengers. Dubai is the lowest earning sector. By providing flight services in this sector, Nepal Airlines earned </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent income from both passengers and cargo in </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2022.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the domestic flight segment, the service of Nepal Airlines is very poor. Last year, the corporation served a total of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">domestic passengers. The number of people taking the air service is low because there are fewer aircraft and the existing aircraft cannot be operated in an orderly manner. Minister for Culture, Tourism and Civil Aviation, Sudan Kirati, has announced government’s plan to purchase </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">aircraft for domestic flights.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19256', 'image' => '20231121015002_1700527556.1692446817.चब.jpg', 'article_date' => '2023-11-21 13:48:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '19527', 'article_category_id' => '1', 'title' => 'InDrive to Invest up to US$100 Million in Promising Startups', 'sub_title' => '', 'summary' => 'November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">November 21: Ride-sharing platform InDrive has announced the New Ventures Investment with the aim of investing up to US$100 million in startups with high potential. </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:"Nirmala UI","sans-serif"">The company has handed over the leadership of New Ventures Investment to InDrive Vice President Andrew Smith. The company has also set certain criteria for investment. The company says that the startups seeking investment should have plans for social justice and raising the living standards of individuals and communities. Also, the local startups with the potential for global expansion will be given preference, said InDrive.</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:"Nirmala UI","sans-serif"">The company informed that startups that have already been established in the market will be prioritized. </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:"Nirmala UI","sans-serif"">Vice President Andrew Smith said that by investing in companies capable of making innovations that improve people's lives, they will help expand the capacity and reach of such companies. </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:"Nirmala UI","sans-serif"">Mark Larkin, president of InDrive, said the main objective of the New Ventures Investment is to identify startups outside of traditional innovation hubs that have been overlooked but have high growth potential.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19255', 'image' => '20231121122328_inDrive.jpg', 'article_date' => '2023-11-21 12:22:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '19526', 'article_category_id' => '1', 'title' => 'NRB Tightens the Screws on Digital Wallet Companies', 'sub_title' => '', 'summary' => 'November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Nepal Rastra Bank has tightened the screws on digital wallet companies providing payment service in the country. The central bank made such an arrangement by issuing the Unified Directive </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2080</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">related to payment services on Monday. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The new directive stresses on the need for cyber security and transparency of financial transactions of the operators of digital wallets. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has also introduced various provisions to make the technical aspects of wallet companies more secure. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the case of the customer, the central bank has instructed digital wallets to collect the details of the customers and update the KYC by mid-July next year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">It is mentioned in the directive that the payment-related organizations should prepare a list of documents and other details required to fully comply with the customer identification regulations to operate the wallet and arrange for updating the details through online form.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has warned that any company that does not implement the Unified Directives will be warned for the first time and then fined Rs one million for the second time. The third offense carries a fine of Rs two million while the punishment will increase according for failure to comply with the directives.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19254', 'image' => '20231121122349_cashless-digital-money-e-sewa.jpg', 'article_date' => '2023-11-21 12:18:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '19525', 'article_category_id' => '1', 'title' => 'General Public Files 3,000 Complaints against Bank', 'sub_title' => '', 'summary' => 'November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about 3,000 complaints in one year.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: Expressing dissatisfaction with the services of banks and financial institutions, the general public has registered about </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,000</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints in one year. The common people have registered complaints with the Nepal Rastra Bank against the banks regarding interest rates, service charges and other issues after the central bank facilitated in registering the complaints and started taking effective actions against the banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Rastra Bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,903</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints were registered by the general public through various means in the last fiscal year (FY). According to the central bank, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,646</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints have been resolved and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">257</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> complaints are in the process of being addressed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank has said that most of the complaints of the common people are about the interest rate (premium) charged by banks on loan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have also complained about the fees charged by the banks and their refusal to blacklist defaulters not being included in the blacklist.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Another complaint is that of non-payment of bank guarantee.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Nepal Rastra Bank has established a Financial Customer Protection Unit and has been dealing with complaints made by the general public about the services of banks and financial institutions. The central bank has also been operating a separate online portal since May </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">21 to make it easy for the general public to file complaints. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In addition, arrangements have been made to submit complaints in writing, by email and by telephone and in person at the Nepal Rastra Bank. The central bank has also arranged a hotline service for registering complaints.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Of late, as the general public's complaints against microfinance institutions have started to increase, a separate complaint desk has also been set up in the Microfinance Institutions Supervision Department of NRB. Complaints filed against the bank through the government and other means are also sent to the central bank.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The NRB has formed a Grievance Hearing Committee under the coordination of a Senior Deputy Governor of Nepal Rastra Bank to hear the complaints received from the customers according to the provisions of the Financial Customer Protection and Grievance Management Procedure </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2077</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The members of the committee include Deputy Governor, Executive Director of Banks and Financial Institution Regulation Department and Bank Supervision Department, Joint Secretary of the Ministry of Finance, President of Nepal Bankers Association, and a representative from the Federation of Nepal Chamber of Commerce and Industry.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, there is a provision that a maximum of four experts from related departments and agencies can be invited to the meeting based on the nature/topic of the complaint to be discussed in the committee where the director of the Banks and Financial Institutions Regulation Department is a member secretary.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is a provision that the concerned department of the central bank will take the initiative to solve the complaints received from the general public and if it is not resolved, it will be sent to the committee.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19253', 'image' => '20231121121737_Bankkk.jpg', 'article_date' => '2023-11-21 12:16:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '19524', 'article_category_id' => '1', 'title' => 'Prices of Green Vegetables Decreased by 88 Percent within a Month', 'sub_title' => '', 'summary' => 'November 21: The prices of green vegetables has decreased by 88 percent within the last one month.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 21: The prices of green vegetables has decreased by </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">88</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent within the last one month. According to the data of the Kalimati Fruit and Vegetable Market Development Committee, the prices of most of the locally-produced vegetables such as cauliflower, potato, cabbage, carrot, radish, gourd, beans, pumpkin, and green spinach have decreased sharply. The prices have dropped due to increase in production and supply of these vegetables in the market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the committee's daily price list, the price of local cauliflower has fallen the most. The price of local cauliflower, which was being sold for Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">112</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg on October 20, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12.50</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The price of carrot, which was being sold at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">106</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> a month ago, has come down to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">56</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. The price of local radish, which was Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">27</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> at that time, has fallen to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">12</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg. Similarly, the price of beans, which was traded at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">266</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">per kg, has now dropped to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> per kg.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Binay Shrestha, information officer of the committee, said that the prices of vegetables grown by local farmers targeting the festival of Tihar have arrived in the market all at once due to which the prices have taken a nosedive. According to him, the prices of vegetables such as cauliflower, radish and cabbage have started to decrease. He informed that the supply of local vegetables such as cauliflower, gourd and pumpkin has almost doubled compared to a month ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the committee, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">34</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">775 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of local cauliflower was imported into the Kalimati market on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">67</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">300 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg of cabbage was imported in Kalimati on October 20, while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">32</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">700 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg was imported on November 20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the supply of green spinach has also increased from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">14</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">000 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">kg. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19252', 'image' => '20231121112145_20200806125217_1595453904.Clipboard03(1).jpg', 'article_date' => '2023-11-21 11:21:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '19523', 'article_category_id' => '1', 'title' => 'Government Seeks Measures to Address Economic Crisis ', 'sub_title' => '', 'summary' => 'November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 21: The government is seeking measures to resolve the existing economic crisis after the national economy failed to return to its rhythm despite various reformative measures. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prime Minister Pushpa Kamal Dahal on Sunday held discussions with representatives from various line ministries, the National Planning Commission, Nepal Rastra Bank among others to take stock about the current state of the country’s economy and the ways to address the national economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A meeting of the office-bearers of the ruling Nepali Congress also deliberated on the economic situation of the country. Minister for Finance Dr Prakash Sharan Mahat briefed the meeting about the economic state of the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The participants of the meeting viewed that the government should take a step immediately to revitalize the national economy. They opined that attention should be paid to post-quake relief and reconstruction operation for the earthquake survivors in Jajarkot and Rukum West. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The internal indices of the economy are still in crisis although there are signs of general improvement in the external indices lately. Problems plaguing the national economy at present are lax implementation of government's annual polices, programmes and budget and low capital expenditure. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reduction in credit flow and high interest rate, reduction in the consumers' demand, declining morale of the private sector and failure in increasing domestic productivity among others have also led to flagging economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The private sector has been continuously exerting pressure on the government saying it has been too late to take initiatives to resolve the problems of the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The umbrella organisation of the private sector, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), hosted a 'National Economic Talks' on October 12, to find out solutions to the existing economic crisis. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">After the proposal of the private sector in course of discussion, Prime Minister Dahal had said a high-level mechanism could be formed to reform the economy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government and private sector are univocal that all sides and sectors should move ahead through collective efforts with responsibility in order to resolve the problems seen in economy. The private sector has been demanding since a long time that it is necessary to immediately form an Economic Reforms Commission or any high-level mechanism with legal authority. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the government through its policy and programme and budget of the current fiscal year had initiated some measures for policy and procedural reforms, the implementation side is weak. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government is preparing to host an international investment summit in third week of April 2024. A proposal to organise the investment summit has reached the cabinet. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">What is the condition of economy?</span></strong> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In the first quarter of the current fiscal year, the government's expenditure has been just 20 per cent of the annual target. According to the Office of the Financial Comptroller General, the government's spending is over Rs 355.63 billion till the second week of November. Categorically, the government spending is 23.75 per cent under the current expenditure, 9.93 per cent under the capital expenditure and 17.72 per cent under the fiscal management as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, the status of revenue collection also paints a dismal picture. In the first quarter, revenue collection stood at 20.08 per cent of the annual target. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The government has set a target to collect Rs 1422.54 billion in revenue in the current fiscal year but the collection is only Rs 276.64 billion as of November 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the inflation in the country is 7.5 per cent in the first quarter of the current fiscal year against the government’s target to maintain it within 6.5 per cent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Moreover, the bank and financial institutions are also struggling to expand credit flow. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, the external sector of the economy has gradually improved with the robust growth in remittance inflow, which recorded 30 per cent growth till November 17. During the first three months of the current fiscal year, Nepal received Rs 365.34 billion in remittances, which is 30 per cent more than the corresponding period of the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the balance of payment is in a surplus of Rs 99.7 billion. In the first quarter, the import has increased by 1.7 per cent while the export has reduced by 2.3 per cent. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19251', 'image' => '20231121104356_20230820111244_Rising-Inflation.min_.jpg', 'article_date' => '2023-11-21 10:43:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '19521', 'article_category_id' => '1', 'title' => 'Government Allocates Rs 1.41 Billion for Earthquake Victims' Temporary Residences', 'sub_title' => '', 'summary' => 'The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government has allocated Rs 1.41 billion to construct temporary residences for individuals displaced by the November 3 earthquake in Jajarkot and surrounding districts. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The National Disaster Risk Reduction and Management Authority (NDRRMA) announced the release of the first tranche of funds, which will benefit Jajarkot, Rukum Paschim, Bajhang, Bajura, and Salyan districts in accordance with government decisions.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the total amount, Jajarkot and Rukum Paschim districts are set to receive Rs 500 million each, said NDRRMA spokesperson Dhruba Bahadur Khadka. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Rs 250 million has been earmarked for Bajhang, Rs 140 million for Bajura, and Rs 20 million for Salyan district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The fund allocation aligns with the Temporary Residence Construction Guidelines 2080 BS, approved during the Disaster Risk Reduction and Management Executive Committee meeting on November 12.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> Khadka emphasized that the first tranche of the fund adheres to these guidelines, ensuring legal facilitation for supporting those affected by the earthquake. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The selection of beneficiaries will be carried out by the respective local authorities, with funds disbursed according to established laws. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Stringent auditing procedures will be implemented to ensure transparent and accountable management of the allocated funds. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19250', 'image' => '20231121055053_collage (17).jpg', 'article_date' => '2023-11-21 05:48:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '19522', 'article_category_id' => '1', 'title' => 'Government to Seek Suggestions from Private Sector', 'sub_title' => '', 'summary' => 'The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 21: The government is set to collect input and suggestions from private sector aimed at revitalizing the country's economy. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The decision was made during a meeting at the Prime Minister's residence in Baluwatar on Monday evening, where the current state of economy was thoroughly discussed.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The discussions with the private sector are scheduled to take place at the Prime Minister's Office in Singh Durbar on Tuesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Earlier, the Prime Minister Pushpa Kamal Dahal 'Prachanda' had held meetings with key ministries, including Finance, the National Planning Commission, and Nepal Rastra Bank, to gain insights into the present economic conditions and chart a course for the future.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">"We are seeking suggestions from the private sector regarding the current challenges and problems, as well as insights into the future course of action," said Finance Minister Dr. Mahat. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During meeting at the PMO, the Finance Minister provided the Prime Minister with a comprehensive overview of the country's economic landscape, while the Governor of Rastra Bank and a representative from the National Planning Commission also shared their perspectives. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-11-21', 'modified' => '2023-11-21', 'keywords' => '', 'description' => '', 'sortorder' => '19249', 'image' => '20231121060647_collage (18).jpg', 'article_date' => '2023-11-21 06:05:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 10 => array( 'Article' => array( 'id' => '19519', 'article_category_id' => '1', 'title' => 'NEA Expands Transmission Lines by 3100 Circuit Kilometers in Nine Years', 'sub_title' => '', 'summary' => 'November 20: The Nepal Electricity Authority (NEA) has added 3,118 circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: The Nepal Electricity Authority (NEA) has added </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines to the electricity transmission system of the country in the last nine years.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Transmission and distribution lines and substations are required to deliver the electricity produced from the power plants to the customers' homes. For this purpose, the NEA is constructing transmission lines and substations through the Directorate of Transmission and Project Management.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nine years ago i.e. in the fiscal year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the capacity of substations was only </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA, but in the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> it reached </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">867</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> MVA.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, electricity was being transmitted only from </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines but now it is done through </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV lines. In the year </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2071/72</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, there were </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">624</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines. By FY </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2079/80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, the country has </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">742</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines with the addition of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">118</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of new lines.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Currently, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">66</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> kV transmission lines in the system is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">514</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3,979</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the length of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">101</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">148</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers respectively. Last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">413</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">circuit kilometers of transmission lines were added to the system.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kulman Ghising, the executive director of the NEA, has admitted that there are problems in the construction of transmission line projects, mainly due to the obstacles created by the locals. In addition to this, there are also problems in land acquisition and use of forest area and tree cutting, and the NEA is working to solve these problems, added Ghising.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On one hand, it takes a long time for the approval of the use of forest area land and tree felling, and on the other hand, a large amount of money has to be paid as compensation to another agency of the government. This not only prolongs the duration of the project, but also increases the price of our produced electricity," said Executive Director Ghising. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">There is an urgent need to declare the next </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> years as the country's development decade and comprehensively amend or replace the existing laws and regulations, to facilitate the land use of the forest area, said Ghising, adding that the programs announced in the current fiscal year's budget should be implemented as soon as possible.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In order to meet the demand for electricity till </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2050</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">, Ghising said that the major cities of the country including Kathmandu have been divided into </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> clusters for which the NEA has prepared the transmission and substation structure master plan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NEA, currently </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2,852</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of transmission lines of various capacities are under construction. A maximum of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,111</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">132</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction. Likewise, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">988</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">754</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> circuit kilometers of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">220</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">400</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> KV transmission lines are under construction respectively.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">469 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations of various capacities are under construction while </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">564 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">MVA capacity substations are proposed for construction.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19248', 'image' => '20231120013615_20230716115331_eee.jpg', 'article_date' => '2023-11-20 13:35:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '19520', 'article_category_id' => '1', 'title' => 'NEPSE Posts Minimal Gain to Close at 1853.48', 'sub_title' => '', 'summary' => 'On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">November 20: </span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">On the first trading day of the week following an extended period of festival holidays, the Nepal Stock Exchange (NEPSE) gained a minimal 1.39 points or 0.07%, closing at 1853.48 on Monday.</span></span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The market's lack of upward momentum is attributed to a prolonged festive period, causing reduced trading activity. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Prevailing negative investor psychology has influenced the market, preventing it from catching the upward momentum. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, a significant number of investors adopting a "wait and watch approach, is also hampering overall market momentum.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading, 3,319,558 shares were traded through 44,727 transactions, totaling Rs 1.9 billion, involving 284 scrips. Himalayan Distillery Limited (HDL) led with a turnover exceeding Rs 7 crores, closing at Rs 1737 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Global IME Laghubitta Bittiya Sanstha Ltd. (GILB) and Karnali Development Bank Limited (KRBL) gained the highest at 9.98% and 9.96%, respectively. Conversely, Forward Microfinance Laghubitta Bittiya Sanstha Limited (FOWAD) and Sayapatri Hydropower Limited (SPHL) each lost 10%, hitting the negative circuit.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In sector indices, all sectors closed positively, except Hotels And Tourism, Manufacturing And Processing, Microfinance, and Others. Manufacturing and Processing saw the highest loss at 1.91%, while Trading Index gained the most at 1.42%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Sensitive Index and Sensitive Float Index experienced losses of 0.14% and 0.25%, respectively, while Float Index gained 0.08% for the day.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19247', 'image' => '20231120042517_collage (1).jpg', 'article_date' => '2023-11-20 16:23:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '19518', 'article_category_id' => '1', 'title' => 'Light Snowfall Likely in High Hills and Mountainous Regions ', 'sub_title' => '', 'summary' => 'November 20: The Westerly wind is having its partial impact in the country at present. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: The Westerly wind is having its partial impact in the country at present. The weather will be partly cloudy in the hill region of the country and generally fair in the rest of the regions, the Meteorological Forecasting Division said Monday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meteorologist Saroj Pudasaini said that the weather will be partly cloudy in the hill region of the country, including in Gandaki Province, in the afternoon today (Monday) while it will remain generally fair in the rest of the regions. According to him, there is a possibility of light snowfall at one or two places in the high hills and mountainous region of Koshi, Bagmati and Gandaki provinces today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The air temperature in Kahmandu is 17 degrees Celsius and visibility is more than six kilometres at present, the division stated. Meteorologist Pudasaini said the weather will be partly cloudy and the maximum temperature will be between 22 to 24 degrees Celsius in Kathmandu today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, the weather will be partly cloudy in the hill areas of Koshi, Bagmati and Gandaki provinces and generally fair in the rest of the country tonight. There are chances of light snowfall at one or two places of the high hills and mountainous areas of Koshi, Bagmati and Gandaki provinces. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19246', 'image' => '20231120013629_20190208014800_aaaa.jpg', 'article_date' => '2023-11-20 13:33:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '19516', 'article_category_id' => '1', 'title' => 'Finance Minister Mahat Busy in Soliciting Foreign Aid due to Slump in Revenue Collection', 'sub_title' => '', 'summary' => 'November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">November 20: Although revenue collection is the main source of government's income, the government has been actively engaged in receiving foreign aid due to its failure to collect revenue as expected.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Dr Prakash Sharan Mahat has stepped up his efforts to solicit support from large donor agencies. Due to his active efforts, the government has signed agreements for foreign aid worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion in the last four months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Between mid-July to mid- October, the government has reached separate agreements with the main donor agencies including the World Bank, the Asian Development Bank, the European Union and the Japanese government to receive foreign aid. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Out of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">40</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion agreement, the government will receive more than Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.5 billion as subsidy.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government has also signed a grant agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">63</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion with the European Union.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This grant agreement is to be spent in the fields of education and climate change adaptation. The European Union has signed an agreement with the Government of Nepal to provide a grant of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">7.38</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the education program for all and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the local climate change adaptation program. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The education program for all has the backing of eight donor agencies including the European Union. This program is being run to produce skilled manpower.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the Japanese government has signed an agreement to provide a subsidy equal to Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">2.96</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion to Nepal. The Japanese government will provide the grant for upgrading of the emergency trauma center at Dhulikhel Hospital. Japan's grant will be used to build infrastructure for immediate treatment of victims of emergency accidents.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The World Bank has also signed an agreement to provide a grant of USD </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">3.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million to the Government of Nepal. Along with the grant, the government has entered into a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the World Bank during this period. As per the agreement, the loan will be spent in the health sector of Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Government of Nepal is increasing investment in infrastructure and production of skilled manpower to expand health facilities to the local level. The government signed the agreement with the World Bank under the same campaign. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government has also signed a loan agreement worth Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">13</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion with the Asian Development Bank for the rural road infrastructure improvement project. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to officials of the Ministry of Finance, the government has prioritized foreign aid as the revenue, the main source of government’s income, has not been raised as expected. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">"Support from donor agencies is increasing, this will help the government's financial system which is under pressure," a senior official of the International Financial Aid Coordination Division under the Ministry of Finance told New Business Age.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">If we look at the status of revenue collection, the government has collected Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">276</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion till mid-October of the current fiscal year. This is </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">19.45</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the annual target. Tax revenue collected during this period is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">254</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">30</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion and the non-tax revenue is Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">22</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">33</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the officials of the finance ministry, the government has been facing problems to meet the revenue collection target from the beginning of the current fiscal year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Finance Minister Mahat announced a budget of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1751</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion for the current fiscal year. So far </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the budget has been spent. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">While announcing the budget, Finance Minister Mahat said that the government will raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1248</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">62</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from revenue and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">49</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">94</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign grants.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Likewise, the government plans to raise Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">212</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">.</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">75 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from foreign loans and Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">240 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion from internal loans. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">In the first four months of the current fiscal year, the government has already taken internal loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">100 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As the main source of revenue is shrinking, the government has been criticized for meeting its financial liabilities by taking internal debt. Government officials have been rejecting this accusation.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Economist Keshav Acharya says that the government’s finances are deteriorating due to the lack of responsibility and accountability among top political leadership and high-level employees. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19245', 'image' => '20231120012342_finance_ministry_copy1.jpg', 'article_date' => '2023-11-20 13:23:06', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '19517', 'article_category_id' => '1', 'title' => 'Aftershock Jolts Bajhang ', 'sub_title' => '', 'summary' => 'November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">November 20: An aftershock measuring 4.5 on the Richter scale and with epicentre at Dhamena occurred in Bajhang at 11.37 am on Monday, according to the National Earthquake Monitoring and Research Centre. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Senior seismologist at the Centre, Dr Lokbijaya Adhikari said another aftershock jolted Bajhang following the tremor at Dhamena. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">"An aftershock measuring 4.5 on the Richter scale took place with its epicentre at Dhamena. Information has been received that the aftershock was felt in surrounding districts of Bajhang as well," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">An earthquake measuring 6.3 on the Richter scale with epicentre in Bajhang had jolted the district on October 3. Many aftershocks have occurred following this quake, according to the Centre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-11-20', 'modified' => '2023-11-20', 'keywords' => '', 'description' => '', 'sortorder' => '19244', 'image' => '20231120013040_earth.jpg', 'article_date' => '2023-11-20 13:29:23', '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
