August 13: The review meeting of the 10th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday.…
August 13: The review meeting of the 10th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday.…
…
August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed.…
August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two…
The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the…
More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related…
August 11: Paragliding has begun in commercial scale in Sindhuli…
August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University.…
The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities…
August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been…
August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY…
August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and tax for the Rural Telecommunication Development…
August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY…
August 11: Nepal has achieved great progress in the electricity sector in the last 10…
The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS…
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', '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"">August 13: The review meeting of the </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"">th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. The meeting reviewed the progress of the project in various stages of implementation. India has provided an amount equal to US$ </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"">.65 billion to Nepal under the LoC. The Government of Nepal has been investing this amount in priority projects for infrastructure development.</span></span></span></span></p> <p><span style="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 LoC has financed more than </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""> road projects related to hydropower and transmission lines and six projects of housing and reconstruction. Under the LoC project, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,105</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km of road construction has been completed.</span></span></span></span></p> <p><span style="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 expected that the transmission lines under the LOC projects including the </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""> KV Koshi Corridor, </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 Modi Lekhnath, </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 Solu Corridor 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 Dhalkebar-Bhithamod will greatly help in power supply. </span></span></span></span></p> <p><span style="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 India has also agreed to invest US$ </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under LoC for the construction of Bheri Corridor, Nijgadh-Inaruwa, Gandak Nepalgunj transmission line and substations of these transmission 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"">Joint Secretary of the Indian Ministry of External Affairs (Development Partnership Administration) A Ajay Kumar led the team which included representatives from the Indian Embassy and Exim 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"">Similarly, Shri Krishna Nepal, joint secretary of the Ministry of Finance, led the delegation of Nepal during the meeting. Officials from various departments involved in the implementation of the LoC projects were also a part of the Nepalese delegation.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18451', 'image' => '20230813014333_1691887849.4 Meeting .jpg', 'article_date' => '2023-08-13 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18720', 'article_category_id' => '1', 'title' => 'Rescue Flights not Prohibited beyond 'Operation Hours' : CAAN ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Civil Aviation Authority of Nepal (CAAN) has clarified that no flights meant for rescue operations have been prohibited in remote areas beyond the 'operation hours'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recent decision of the CAAN mandates airlines to conduct flights to remove areas only within the fixed time schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision is said to be for mitigating the risk of air incidents during the monsoon season and to enhance flight safety. However, CAAN has been criticized for the move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN spokesperson Jagannath Niraula said that the restriction on flight beyond the operating hours is only applicable during the monsoon period and is not targeted at rescue flights. The prohibition is just for commercial flight in remote areas. The CAAN said typically the 'operation hours' for airports based in remote areas begin at 6:30 am and end at 12:30 in the afternoon. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18449', 'image' => '20230813124844_caan.jpg', 'article_date' => '2023-08-13 12:47:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18719', 'article_category_id' => '1', 'title' => 'Expansion of Bhaktapur-Nagarkot Road yet to Complete in a Decade', 'sub_title' => '', 'summary' => 'August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. The road has potholes everywhere and blacktopping work has been stalled in the area from the Kharipati barracks of the Nepalese Army to the front of the Changu Narayan Municipality office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The road has cracks in many places posing a risk of landslide especially along the turn at the barracks. The road turns muddy during monsoon and dusty during the dry season affecting the people residing on the road sides. The solid water from the unmanaged drainage enters the houses on the roadsides. A person died in the course of the construction of the road in the Bastola settlement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project completion deadline extended for ninth time</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Started in June, 2014 with the target of completing the work within two years, the project deadline has been extended for the ninth time so far. According to the latest deadline extended on 19 July, 2023, the project should be completed by 14 January, 2024, said sub engineer Sumita Dhukuchhu of the Bhaktapur-Nagarkot Road Planning Office, who is assigned to test the quality of the road. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">“Work on around 500 meters of road remains to be completed. The construction company has pledged to repair the damaged road, and hand the project over after completion in two months,” she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shailung Construction and Indian Aravali Infrapower Limited jointly won the contract to undertake the project at the initial cost of Rs 270 million provided by the Export-Import Bank of India (Exim Bank) as loans. But the project cost has now reached Rs 310 million including VAT, she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Around five months ago, the Road Improvement and Development Project Directorate under the Ministry of Physical Infrastructure and Transport had issued a notice warning to terminate the contract within 14 days if the 15.6 km road is not completed within the deadline. During a monitoring on 2 March, 2023, then Deputy Prime Minister Narayan Kaji Shrestha had warned of canceling the contract if the construction company failed to complete the project within 13 April, 2023. On the occasion, Ambassador of India to Nepal Naveen Srivastava was also present.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Monitoring of the project</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team of representatives of political parties and people's representatives led by Chief District Officer of Bhaktapur Khagendra Prasad Rijal, which recently monitored the road, concluded that the road construction is of poor quality.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">On 14 November, 2021, then Minister for Physical Infrastructure and Transport Renu Kumari Yadav had also monitored the project and warned of canceling the contract of the construction company if the project was not completed within two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">During the monitoring by the two ministers, the locals had urged them to take initiatives for completing the project soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Earlier on 29 July, 2019, the Development and Technology Committee under the House of Representatives during a monitoring had asked the contractor to blacktop the road for the Visit Nepal, 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, on 20 November, 2019, a team led by joint secretary Yam Lal Bhusal inspected the road at the directive of then Prime Minister KP Sharma Oli. Also, various separate teams involving then Minister for Physical Planning Basanta Nembang, then minister and lawmaker Mahesh Basnet, then mayor of Changunarayan Municipality Som Prasad Mishra, the municipality mayor Jiban Khatri and deputy mayor Ramesh Budhathoki time and again inspected the project, and assured of the project completion soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team led by then municipality mayor Mishra had a separate meeting with Prime Minister Pushpa Kamal Dahal, and then PMs Sher Bahadur Deuba and Oli demanding the completion of the road soon. "We met and submitted a memorandum to PMs and ministers demanding the road completion soon but to no avail. I feel the contractor is more powerful than the government," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Although the project nears completion, it requires repair before completion due to low quality work on blacktopping, said CDO Rijal. He said pressure would be put on the construction company to complete the project before the upcoming Dashain festival that is taking place in more than three months this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">. Political leaders and local people including Rastriya Prajatantra Party central deputy general secretary Rabindra Pratap Shah and district chairperson of the Nepal Workers Peasants Party Nhuchhe Bhakta Phoju have demanded action against the construction company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Ward-6 chair of the municipality demanded the completion of the project before the Nagarkot Road Festival that is taking place before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The project’s sub engineer Sadhana Tiwari has blamed the Nepalese Army for not allowing the construction of a drainage system which has caused the release of the water from the drainage at Ghumaune into the road. Similarly, the release of the wastewater from Shivashikhar cooperative, and from various factories in the area into the road has caused potholes while landslides at the U-turn caused by land plotting have halted the road construction from time to time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A small drainage system built by the municipality along the feeder roads, and the deposition of river materials along the road damaged the road, she said, adding that there is also a risk of the water flowing into the road when the culverts are filled.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Anup Adhikari, the project manager of Shailung Construction, said the project deadline was extended as per the Public Procurement Regulations (12th Amendment), and the project would be handed over after completion within two months. Electricity poles at the Nagarkot Bus Park should be moved, and for this, payments have been made to the Nepal Electricity Authority. Remaining construction work will be completed shortly after the poles are moved, he said. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18448', 'image' => '20230813114412_nagrkot-hiking.jpg', 'article_date' => '2023-08-13 11:43:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18718', 'article_category_id' => '1', 'title' => 'Chances of Rainfall Across the Country until Monday', 'sub_title' => '', 'summary' => 'August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days, as the axis of the monsoon low pressure is situated towards the north (near Nepal) from its normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division said there is the possibility of the monsoon low pressure axis shifting more towards Nepal in the coming some days also due to the influence of the low pressure system developing in the north-west parts of Bihar and areas in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather was generally to completely cloudy throughout the country last night as a result of this weather system with light to moderate rainfall at many places and heavy rain accompanied by thunder and lightning at a few places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin on Saturday, the division has called for adopting precaution in view of the risk of landslide and debris flow in the hill region of the country until Monday. It said there is also the risk of inundation in the urban areas due to the increase in water level in the big and small rivers and rivulets. The division also warned that adverse weather is likely to affect the daily life of people as well as road and air transport. The division has urged the general public and all the bodies concerned to adopt necessary alertness and preparedness to avoid any untoward incident. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Today’s weather</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be fully cloudy throughout the country on Sunday with chances of light to moderate rainfall at many places. There is possibility of heavy to torrential rainfall along with thunder and lightning at a few places of Koshi, Bagmati, Gandaki, Karnali and Sudurpaschim provinces and at one or two places of Madhes and Lumbini provinces on Sunday. </span></span><br /> <span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""><strong>Weather on August 14 </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather will be generally to completely cloudy throughout the country on August 14, Monday, with chances of light to moderate rainfall at many places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces and at a few places of Koshi, Madhes and Bagmati provinces. There is also the possibility of heavy to torrential rainfall accompanied by thunder/lightning at a few places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather bulletin issued by the Division also stated that there are chances of heavy rainfall at one or two places of Koshi and Bagmati provinces on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => 'Nepal, rainfall, heavy, torrential, India, monsoon, pressure, system, forecast ', 'description' => '', 'sortorder' => '18447', 'image' => '20230813104409_rain.jpeg', 'article_date' => '2023-08-13 10:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18717', 'article_category_id' => '1', 'title' => 'NEA Organizes Electric Vehicle Rally to Promote Electricity Consumption', 'sub_title' => '', 'summary' => 'The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rally that began from the NEA headquarters at Ratnapark passed through Maitighar, New Baneshwor, Tinkune, Sinamangal, Airport, Gaushala, Chabahil, Maharajgunj, Lajimpat, Lainchaur and Durbar Marga before concluding at Ratnapark. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inaugurating the event, Shakti Bahadur Basnet, the Minister for Energy, Water Resources, and Irrigation, highlighted the government's commitment to bolstering the use of domestically generated electricity and promoting the adoption of electric appliances and vehicles for a cleaner environment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Emphasizing the significance of electric vehicles, Minister Basnet underscored their potential in reducing the nation's reliance on petroleum-based products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has adopted a policy of purchasing only electric vehicles for urban areas, and converting fuel vehicles into electric ones. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has constructed charging stations in various 51 places, and the construction process has initiated in 13 additional places, according to the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, plans for the construction of charging stations are underway in more than 100 places across the country, it has been informed. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18446', 'image' => '20230813064712_collage (11).jpg', 'article_date' => '2023-08-13 06:45:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18716', 'article_category_id' => '1', 'title' => 'Over 200 Industries Shut Down in Rupandehi in Fiscal Year 2079/80 BS', 'sub_title' => '', 'summary' => 'More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The closure of these industries was attributed to a range of factors, including frequent power outages, economic challenges, and high interest rates imposed by banks. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A significant number of the closed industries were concentrated in Tilottama Municipality, Siddharthangar Municipality, and Butwal Sub-Metropolis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhav Poudel, the President of Rupandehi Chamber of Commerce and Industry, highlighted the alarming situation faced by industrialists within the district. He pointed out that the closure of over 200 industries in a single year underscores the challenges experienced by the local industrial community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Poudel attributed the downfall of small industries to a confluence of factors, such as the COVID-19 pandemic, hefty loan interest rates, and policy-related hindrances in trade.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ujjwal Kasaju, the President of Butwal Chamber of Commerce and Industry and a Central Committee member of the Federation of Nepalese Chambers of Commerce and Industries, provided further insight into the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kasaju expressed that high interest rates on bank loans, difficulties in finding markets, and the incomplete functionality of the airport were among the key contributors to the industrial shutdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of these challenges, some larger-scale industries managed to stay afloat by reducing their production capacity to between 25% and 40% of their usual output.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Netra Prasad Bhusal, the Information Officer at the Office of Cottage and Small Industries in Bhairahawa, the district had a total of approximately 1,030 registered cottage industries. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18445', 'image' => '20230813062239_collage (9).jpg', 'article_date' => '2023-08-13 06:20:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18715', 'article_category_id' => '1', 'title' => 'Paragliding Begins in Sindhuli ', 'sub_title' => '', 'summary' => 'August 11: Paragliding has begun in commercial scale in Sindhuli district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 11: Paragliding has begun in commercial scale in Sindhuli district. It is a first of its kind service in the district. The adventure sport was launched on August 7 while its successful test was conducted on April 25 early this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The service based near Kamalamai Municipality-6 was started at a cost of Rs two million, according to proprietor Netra Jung Thapa. Thapa’s company has been licensed to operate up to five paragliding flights simultaneously and the fee for per person flight is Rs 6,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are however entitled to get a discount of Rs 1,000 for a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sport that falls into the category of adventure tourism is expected to contribute to promotion of tourism in the district. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18444', 'image' => '20230811080849_20220821100035_para.jpg', 'article_date' => '2023-08-11 20:08:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18714', 'article_category_id' => '1', 'title' => 'Nepali Students Struggling to get TU Equivalence of Foreign Degrees Resulting in Brain Drain ', 'sub_title' => '', 'summary' => 'August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. This is likely to result in a brain drain to foreign countries, warned experts.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Students who are struggling to acquire equivalence certificates have accused Tribhuvan University (TU) of being apathetic towards the issue. For instance, over 100 Nepali students who have completed their higher education in India are yet to receive TU recognition for their degrees. This situation has prompted some of them to leave for foreign countries, according to the affected students.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr Sharad Chand from Kanchanpur district, who completed his Ph.D. in Pharmacy from Rajiv Gandhi University of Health Sciences, India, said that they had to endure significant challenges to obtain equivalence certificates from TU. Sharing his personal experience, he said that he had to visit TU almost 60 times over six months to secure recognition from TU. He explained that a Doctor in Pharmacy (Pharma D) is a six-year professional doctoral degree in the Pharmacy stream certified by the Pharmacy Council of India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">This situation has not only fostered negativity about TU among students who possess internationally recognized degrees, but has also left them disappointed, he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"When I initially requested an equivalence certificate, TU provided me with the designation 'Doctor of Pharmacy equivalent to the Pharma D.' However, this equivalence was later revoked through a notice published in Gorkhapatra Daily. When a final decision was reached to pursue a Ph.D. based on the equivalence, it was not considered to be of the master’s level. Following the realization that I did not fulfill the required process for admission, I am still awaiting the equivalence certificate necessary for Ph.D. admission," he explained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He elaborated that he had submitted all the required academic and other documents to the TU Curriculum Development Centre. Based on the recommendation of the university where he had enrolled and the Pharmacy Council of India, the Center issued him an equivalence certificate for Pharma D and advised him to apply for a Ph.D. equivalence as well. However, a few days later, a notice was published in Gorkhapatra, stating that errors were present in the equivalence certificate provided to him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The distinction between integrated and dual degrees is clarified in Clause 13 of Section 5 of the Degree Recognition and Equivalence Determination Procedure, 2078.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Procedure, if Nepali citizens obtain high school, bachelor’s, master’s, and doctoral degrees from foreign universities and apply for TU equivalence certificates within the standards of curricula, credit hours, and examination systems prescribed by the relevant educational institution, the equivalence certificates can be granted through a proper process. Similarly, the Procedure specifies that individuals seeking equivalence or recognition of dual degrees with additional credits at any level will be granted equivalence or recognition based on their credits meeting the established criteria.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Despite fulfilling all the established criteria, the Center has declined to issue equivalence certificates, Dr. Chand complained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As a result of the challenges in obtaining TU equivalence certificates, many qualified technicians are compelled to seek opportunities abroad, stated Kul Bahadur Rawal of Tatopani Rural Municipality in Jumla district. Rawal, who completed a Doctor of Pharmacy from Rajiv Gandhi University of Health Sciences, India, expressed concern that although TU equates Pharma D to a Master's degree, it has not definitively stated whether Pharma D qualifies as a postgraduate (PG) degree. He emphasized that India clearly designates Pharma D as a Master's degree. Rawal accused TU of complicating matters for students seeking equivalence certificates by displaying a dual character.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He further alleged that TU employees engage in misconduct when dealing with students who visit the university for equivalence certificates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The affected students have raised questions about how long they will have to endure losses while seeking equivalence for their degrees. They have been fighting for the past nine years, asserting that their stance is valid in terms of credit hours. They claim that TU employees fail to provide clear responses about whether the submitted documents suffice.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Considering that other universities like Pokhara and Kathmandu lack the authority to grant equivalence certificates, students are demanding the end of TU's monopoly in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr. Rawal emphasized that due to the lack of specification that Pharma D is a postgraduate degree, it is becoming problematic to apply for master’s level programs or jobs. While India explicitly defines Pharma D as a postgraduate degree, TU does not. He raised the question of who will issue equivalence certificates for their graduate and postgraduate degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Aastha Dahal, a PhD graduate from Cambridge University in the United Kingdom, expressed her frustration with TU's apparent indifference towards granting equivalence for foreign degrees. She posed questions about potential differences between postgraduate and master's degrees in Nepal's education policy. She also questioned TU's hesitance to grant equivalence for higher education degrees earned from prestigious foreign universities and raised concerns about political influences in the process. She deemed TU's reluctance concerning and shared her two-year struggle to gain TU recognition for her foreign degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, Prof. Dr. Parasnath Yadav, the Executive Director of the Center, denied the allegations. He stated that equivalence certificates are issued according to the criteria outlined in the Procedure only when all necessary documents are submitted. He clarified that factors such as entrance requirements, course contents, credit hours, and duration are taken into account. Equivalence certificates are granted after receiving input from the Office of the Dean and confirmation. Yadav emphasized that TU grants equivalence when 75 percent of the subject matter, credit hours, and duration are met.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He explained that efforts are underway to digitize the service. He clarified, "We grant equivalence when the required credit hours are met (100 credit hours for bachelor’s, 60 for master’s, and 60 for Ph.D. degrees). Not all fields taught in universities worldwide are available at TU. Programs such as Physiotherapy and Pharma D are not offered here. Pharma D refers to pharmacy, and we have issued equivalence for the Pharma D degree. We have become more flexible in granting equivalence for academic subjects."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Recently, Sumana Shrestha, a member of the House of Representatives from the Rastriya Swatantra Party, brought attention to students' complaints about difficulties in obtaining equivalence certificates for their international degrees. She also mentioned mistreatment by TU employees in the process. She urged that TU be kept free from politics and that the Vice Chancellor be appointed based on merit with executive powers. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18443', 'image' => '20230811073749_307329410_410130534604790_8271674801048263021_n.jpg', 'article_date' => '2023-08-11 19:22:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18713', 'article_category_id' => '1', 'title' => 'SEBON Grants Brokerage Licenses to Three More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The three new companies have been issued licenses to operate as limited stock brokerage companies, according to Mukti Shrestha, the spokesperson for the Securities Board of Nepal (SEBON). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SEBON has granted new broker licenses to these 32 companies in various phases so far. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first phase, seven companies received licenses, followed by 11 in the second phase, 11 in the third phase, and three companies in the fourth phase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the 32 newly-licensed brokerage companies, seventeen have received membership of the Nepal Stock Exchange(NEPSE). Seven companies that received the licenses in the first phase form the SEBON have started trading in the secondary market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eleven companies that have obtained letters of intent are awaiting licenses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These companies will undergo evaluation and inspection by the board and will be issued licenses if they meet the set criteria, said Mukti Shrestha, the spokesperson at the SEBON.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18442', 'image' => '20230811045700_collage (7).jpg', 'article_date' => '2023-08-11 16:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18712', 'article_category_id' => '1', 'title' => 'Return on Equity of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.', '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"">August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.</span></span></span></span></p> <p><span style="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 capital of the banks has increased a lot due to mergers and acquisitions and distribution of bonus shares. Despite increasing the capital, they have not been able to invest the capital proportionately. Because of this, the return of investment of stock investors has decreased. Analysts say that the decrease in return on equity means that the return of shareholders who have invested in banks and financial institutions has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Return on equity (ROE) is given great importance by most of the value investors including Warren Buffett. ROE informs about the rate at which investors can get returns from stock market investments. Value investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from the total assets. Mathematically, ROE is obtained by dividing the net profit by total equity. The longer the company is giving good return on equity, the better it should be considered for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, a company with this index of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15-20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is considered good.</span></span></span></span></p> <p><span style="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 financial statements of the fourth quarter of banks for the last fiscal year, the ROE of </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""> commercial banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on average. In the previous year, the ROE of these banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to the previous year, the ROE of some banks has increased, while the ROE of most of the banks has decreased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the </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"">commercial banks, Standard Chartered Bank had the highest ROE at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. Similarly, NIC Asia Bank was in the second place with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent ROE. The lowest ROE among these banks was of Kumari Bank as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The ROE of </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""> banks was higher than the average, while the ROE of </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"">banks was lower than the average.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investors’ attraction in this sector is declining in recent days due to the decreasing returns of commercial banks. Investors are less attracted to banks as the returns on investments in other sectors are higher than in banks.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18441', 'image' => '20230811045605_bankkkkkkk.jpg', 'article_date' => '2023-08-11 16:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18711', 'article_category_id' => '1', 'title' => 'Government Starts Homework to Improve Taxation System', 'sub_title' => '', 'summary' => 'August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Finance Minister Dr Prakash Sharan Mahat had announced while unveiling the budget on May 29 that the tax payers should pay taxes every month and the details should be submitted quarterly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Inland Revenue Department (IRD) under the Ministry of Finance has already started homework to implement this arrangement. Officials of the department say that homework has been started to develop the currently operating online system in accordance with the budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the Director of IRD, Raju Prasad Pyakurel, the current online system is not developed in such a way that the records can be maintained on a quarterly basis. For this, the core team of the department is making necessary arrangements.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Taxpayers who are registered for value added tax and have annual turnover of up to Rs 10 million are currently required to submit their tax returns and their details every month. After the system upgrade, taxpayers will be able to submit tax returns and tax statements every 4 months. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Likewise, homework is being done to form a high-level committee for reforming the existing tax system. Department sources said that a high-level committee will be formed within the next week and will start work immediately. The department is also going to advance the work of interconnection and automation of the institutional information systems by integrating the financial transaction information.</span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The budget for this FY has stated that the government will strengthen the information system and set the minimum limit of the transaction amount according to the nature of the transaction. Similarly, it was announced that tax payers who transact more than Rs 250 million per year will be included in the central invoice monitoring system in order to compulsorily issue invoices through the electronic system. Officials of the department say that they are making necessary preparations to implement it.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => 'tax, system, budget, Nepal, government, improvement, quarterly, four, months', 'description' => '', 'sortorder' => '18440', 'image' => '20230811041348_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2023-08-11 16:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18710', 'article_category_id' => '1', 'title' => '48 Internet Service Providers Fail to Pay Royalties', 'sub_title' => '', 'summary' => 'August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and tax for the Rural Telecommunication Development Fund.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has issued a notification and asked the ISPs to submit the outstanding amount to be paid to the government by the mid-August in a designated bank account with fines. The ISPs have been instructed to clearly disclose their name and fiscal year for which the amount has been paid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, if the amount is not paid even within the specified period, action will be taken as per the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, big internet companies including Subisu, Classic Tech, Mercantile have not paid the royalty amount and Rural Telecommunication Development Fund taxes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Telecommunications Act, 2053, the service providers licensed by the authority must deposit 4 percent of the total income as royalty and 2 percent of the total income under the Rural Telecommunication Development Fund every year. The NTA uses the amount deposited in the fund for the development, extension and operation of telecommunication services in the rural area as per the policy of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is stated in the notice issued by the authority that despite repeated requests, the Internet service providers did not submit the amount.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report published by the authority in December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18439', 'image' => '20230811012501_20230411103022_Internett.jpg', 'article_date' => '2023-08-11 13:22:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18709', 'article_category_id' => '1', 'title' => 'Export of Pashmina Items Increased by 15 Percent Last Year', 'sub_title' => '', 'summary' => 'August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).', '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:"Nirmala UI","sans-serif"">August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Department of Customs, Nepal exported pashmina worth Rs 3.24 billion last year. This amount is 15 percent more than the previous year. In the previous year, Nepal earned foreign currencies worth Rs 2.82 billion from pashmina exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The income from pashmina exports has been increasing since the last four 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:"Nirmala UI","sans-serif"">If we look at the data of the Department of Customs, the volume of export of pashmina items has been increasing since </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2019/20</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina goods worth more than Rs 2.26 billion were exported in that year. In </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">, the export of pashmina increased to more than Rs 2.7 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:"Nirmala UI","sans-serif"">Businessmen are excited due to the increase in export of pashmina.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">They claim that its export amount will increase further in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina was ranked 12th in terms of export earnings last year. Businessmen say it production and export of pashmina is important to reduce the country's trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">President of Nepal Pashmina Industry Association Vijay Kumar Dugad says that there has been a lot of improvement in the pashmina industry after the Covid-19. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, the trade of Nepali pashmina has improved not only in foreign countries but also within 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:"Nirmala UI","sans-serif"">"After the Covid-19, the business of pashmina has increased in Thamel, Patan, Pokhara and other areas with the increase in the number of tourists visiting Nepal," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He says that Nepal's exports have also improved. In previous years, only pashmina shawls and scarves were exported from Nepal. However, now the pattern of export has changed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">There is a good demand for shawls, scarves, knitted sweaters, socks, blouses, in the international market, he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Dugad, Nepali pashmina is mostly exported to countries like America, Japan and European countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government has introduced the 'Pashmina Export National Strategy' with the goal of increasing the export of pashmina to US dollars 75 million (more than Rs 9.96 billion based on the latest US dollar exchange rate) by 2026. As part of this strategy, the government has operated wool collection centers in Mustang, Manang, Dolpa and other districts to increase pashmina yarn production in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Dugad informed that the farmers there have also been trained in extracting wool from chyangra, a kind of Himalayan sheep found in high altitude areas. According to him, 800 wool samples from 4 villages of Mustang have been sent to Mongolia to test the advanced breeds of sheep in Nepal. Nepal is now importing raw materials of pashmina from Mongolia, China and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“The government has already started a lot of work under the Pashmina Export National Strategy. This is the reason why the export has improved. It seems that exports will increase in the coming days as well," said Dugad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, there are about 15,000 industries related to pashmina across the country. He claims that nearly 50,000 people are directly employed in these industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18438', 'image' => '20230811120939_100_percent_1.jpg', 'article_date' => '2023-08-11 12:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18708', 'article_category_id' => '1', 'title' => 'Nepal makes Giant Stride in Electricity Generation in the Last Ten Years', 'sub_title' => '', 'summary' => 'August 11: Nepal has achieved great progress in the electricity sector in the last 10 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 11: Nepal has achieved great progress in the electricity sector in the last 10 years. Until 10 years ago, there used to be terrible load shedding while the power generation capacity was not even 1000 MW, and no electrification was available except in cities and market areas in Nepal. However, the situation has changed a lot now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The installed capacity of electricity produced in Nepal has reached around 3,000 megawatts. About 1,000 megawatts of electricity is produced by the Electricity Authority and its subsidiary companies, while almost 2,000 megawatts of electricity is produced by the private sector including projects that started trial production but have not started commercial production yet. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is also earning foreign currency by exporting up to 500 megawatts of electricity during the rainy season. However, in winter, Nepal will have to continue importing electricity for a few more years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to various studies, Nepal's power generation capacity is more than 200,000 megawatts. According to Prakash Dulal, Deputy Secretary General of the Independent Power Producers Association of Nepal (IPPAN), the financially feasible production capacity is 72,500 MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to this calculation, Nepal is currently producing only 4 percent of its capacity. Nepal has a potential to produce about 30,000 megawatts of solar power but has not yet produced even 100 megawatts. Solar energy is considered very important for energy mix.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the data presented by IPPAN in various forums, hydroelectricity projects with capacity of 4,500 megawatts are currently under construction in Nepal with investments from the government, private sector and foreign investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, projects with capacity of around 10,000 megawatts are in a position to go into construction immediately if the investment and market is ensured. In addition to this, projects with capacity of 12,000 megawatts are awaiting power purchase and sale agreements, while projects of the same capacity are under study, says Deputy Secretary General Dulal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Assuming an average cost of Rs 20 million per megawatt, it seems that an investment of Rs 60 billion is required to generate 30,000 megawatts of electricity in 10 years. A study conducted by the Nepal Electricity Authority shows that an additional investment of around Rs 8 billion to Rs 10 billion is required for the construction of transmission lines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Indian investment in Nepal's hydropower</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India has started investing in Nepal's hydropower sector including the 900 MW Arun 3. Sutlej Jalvidyut Nigam, which is owned by the Government of India, invested in the project under construction in Sankhuwasabha. India, which has entered Nepal through Arun 3, has recently been looking to expand investment in Nepal extensively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is showing interest in the construction of 3,000 megawatt capacity projects in the Arun river basin alone along with other three large projects in western Nepal as well. India also has a great interest in the Karnali river basin. However the private sector of India has not yet been able to advance any project in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">But after Prime Minister Pushpa Kamal Dahal's visit to India in May, India assured to buy 10,000 megawatts of electricity from Nepal in 10 years. The private sector of India is also now calculating profit and loss in hydropower generation in Nepal. Private sector promoters say that big Indian companies are looking for access to Nepal's electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower projects that India intends to develop</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is constructing Arun-3 of 900 MW in the Arun river basin in addition to signing of agreement to build the Lower Arun of 679 MW and Arun-4 of 490 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Sources at the Ministry of Energy say that they are also proposing to build the 1,061 MW Upper Arun and 756 MW Tamor reservoir projects by themselves. In this way, it seems that India is trying to advance projects with a capacity of 2,986 MW in the Arun river basin alone. Similarly, in western Nepal, India has already signed an agreement to produce 7,680 megawatts of electricity by undertaking the 6,480 megawatt Pancheswar (Nepal-India joint venture), 750 megawatt West Seti, and 450 megawatt Seti river-6 projects. An agreement has been reached for the construction of 900 MW Upper Karnali, 480 MW Fukot Karnali hydropower projects in the Karnali river basin, while attempts are being made to construct the 1,902 MW Mugu Karnali and 10,800 MW Karnali Chisapani projects with Indian investment.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18437', 'image' => '20230811105846_electricity.jpg', 'article_date' => '2023-08-11 10:57:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18707', 'article_category_id' => '1', 'title' => 'DoFE's Online Service Back in Operation', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kabiraj Uprety, the Department's Information Officer and Director, confirmed that the online service has been fully restored, making the issuance of work permits a more streamlined process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following the restoration of the FEIMS system, the Department has commenced the approval process for work permits. A notice has been issued to service recipients, informing them of the service's reinstatement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, individuals can now register their applications for labor permits online.</span></span></p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18436', 'image' => '20230811060633_collage (8).jpg', 'article_date' => '2023-08-11 06:04:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18722', 'article_category_id' => '1', 'title' => 'Nepal, India Review Projects under Line of Credit', 'sub_title' => '', 'summary' => 'August 13: The review meeting of the 10th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 13: The review meeting of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. The meeting reviewed the progress of the project in various stages of implementation. India has provided an amount equal to US$ </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"">.65 billion to Nepal under the LoC. The Government of Nepal has been investing this amount in priority projects for infrastructure development.</span></span></span></span></p> <p><span style="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 LoC has financed more than </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""> road projects related to hydropower and transmission lines and six projects of housing and reconstruction. Under the LoC project, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,105</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km of road construction has been completed.</span></span></span></span></p> <p><span style="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 expected that the transmission lines under the LOC projects including the </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""> KV Koshi Corridor, </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 Modi Lekhnath, </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 Solu Corridor 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 Dhalkebar-Bhithamod will greatly help in power supply. </span></span></span></span></p> <p><span style="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 India has also agreed to invest US$ </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under LoC for the construction of Bheri Corridor, Nijgadh-Inaruwa, Gandak Nepalgunj transmission line and substations of these transmission 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"">Joint Secretary of the Indian Ministry of External Affairs (Development Partnership Administration) A Ajay Kumar led the team which included representatives from the Indian Embassy and Exim 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"">Similarly, Shri Krishna Nepal, joint secretary of the Ministry of Finance, led the delegation of Nepal during the meeting. Officials from various departments involved in the implementation of the LoC projects were also a part of the Nepalese delegation.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18451', 'image' => '20230813014333_1691887849.4 Meeting .jpg', 'article_date' => '2023-08-13 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18720', 'article_category_id' => '1', 'title' => 'Rescue Flights not Prohibited beyond 'Operation Hours' : CAAN ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Civil Aviation Authority of Nepal (CAAN) has clarified that no flights meant for rescue operations have been prohibited in remote areas beyond the 'operation hours'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recent decision of the CAAN mandates airlines to conduct flights to remove areas only within the fixed time schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision is said to be for mitigating the risk of air incidents during the monsoon season and to enhance flight safety. However, CAAN has been criticized for the move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN spokesperson Jagannath Niraula said that the restriction on flight beyond the operating hours is only applicable during the monsoon period and is not targeted at rescue flights. The prohibition is just for commercial flight in remote areas. The CAAN said typically the 'operation hours' for airports based in remote areas begin at 6:30 am and end at 12:30 in the afternoon. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18449', 'image' => '20230813124844_caan.jpg', 'article_date' => '2023-08-13 12:47:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18719', 'article_category_id' => '1', 'title' => 'Expansion of Bhaktapur-Nagarkot Road yet to Complete in a Decade', 'sub_title' => '', 'summary' => 'August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. The road has potholes everywhere and blacktopping work has been stalled in the area from the Kharipati barracks of the Nepalese Army to the front of the Changu Narayan Municipality office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The road has cracks in many places posing a risk of landslide especially along the turn at the barracks. The road turns muddy during monsoon and dusty during the dry season affecting the people residing on the road sides. The solid water from the unmanaged drainage enters the houses on the roadsides. A person died in the course of the construction of the road in the Bastola settlement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project completion deadline extended for ninth time</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Started in June, 2014 with the target of completing the work within two years, the project deadline has been extended for the ninth time so far. According to the latest deadline extended on 19 July, 2023, the project should be completed by 14 January, 2024, said sub engineer Sumita Dhukuchhu of the Bhaktapur-Nagarkot Road Planning Office, who is assigned to test the quality of the road. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">“Work on around 500 meters of road remains to be completed. The construction company has pledged to repair the damaged road, and hand the project over after completion in two months,” she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shailung Construction and Indian Aravali Infrapower Limited jointly won the contract to undertake the project at the initial cost of Rs 270 million provided by the Export-Import Bank of India (Exim Bank) as loans. But the project cost has now reached Rs 310 million including VAT, she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Around five months ago, the Road Improvement and Development Project Directorate under the Ministry of Physical Infrastructure and Transport had issued a notice warning to terminate the contract within 14 days if the 15.6 km road is not completed within the deadline. During a monitoring on 2 March, 2023, then Deputy Prime Minister Narayan Kaji Shrestha had warned of canceling the contract if the construction company failed to complete the project within 13 April, 2023. On the occasion, Ambassador of India to Nepal Naveen Srivastava was also present.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Monitoring of the project</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team of representatives of political parties and people's representatives led by Chief District Officer of Bhaktapur Khagendra Prasad Rijal, which recently monitored the road, concluded that the road construction is of poor quality.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">On 14 November, 2021, then Minister for Physical Infrastructure and Transport Renu Kumari Yadav had also monitored the project and warned of canceling the contract of the construction company if the project was not completed within two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">During the monitoring by the two ministers, the locals had urged them to take initiatives for completing the project soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Earlier on 29 July, 2019, the Development and Technology Committee under the House of Representatives during a monitoring had asked the contractor to blacktop the road for the Visit Nepal, 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, on 20 November, 2019, a team led by joint secretary Yam Lal Bhusal inspected the road at the directive of then Prime Minister KP Sharma Oli. Also, various separate teams involving then Minister for Physical Planning Basanta Nembang, then minister and lawmaker Mahesh Basnet, then mayor of Changunarayan Municipality Som Prasad Mishra, the municipality mayor Jiban Khatri and deputy mayor Ramesh Budhathoki time and again inspected the project, and assured of the project completion soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team led by then municipality mayor Mishra had a separate meeting with Prime Minister Pushpa Kamal Dahal, and then PMs Sher Bahadur Deuba and Oli demanding the completion of the road soon. "We met and submitted a memorandum to PMs and ministers demanding the road completion soon but to no avail. I feel the contractor is more powerful than the government," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Although the project nears completion, it requires repair before completion due to low quality work on blacktopping, said CDO Rijal. He said pressure would be put on the construction company to complete the project before the upcoming Dashain festival that is taking place in more than three months this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">. Political leaders and local people including Rastriya Prajatantra Party central deputy general secretary Rabindra Pratap Shah and district chairperson of the Nepal Workers Peasants Party Nhuchhe Bhakta Phoju have demanded action against the construction company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Ward-6 chair of the municipality demanded the completion of the project before the Nagarkot Road Festival that is taking place before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The project’s sub engineer Sadhana Tiwari has blamed the Nepalese Army for not allowing the construction of a drainage system which has caused the release of the water from the drainage at Ghumaune into the road. Similarly, the release of the wastewater from Shivashikhar cooperative, and from various factories in the area into the road has caused potholes while landslides at the U-turn caused by land plotting have halted the road construction from time to time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A small drainage system built by the municipality along the feeder roads, and the deposition of river materials along the road damaged the road, she said, adding that there is also a risk of the water flowing into the road when the culverts are filled.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Anup Adhikari, the project manager of Shailung Construction, said the project deadline was extended as per the Public Procurement Regulations (12th Amendment), and the project would be handed over after completion within two months. Electricity poles at the Nagarkot Bus Park should be moved, and for this, payments have been made to the Nepal Electricity Authority. Remaining construction work will be completed shortly after the poles are moved, he said. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18448', 'image' => '20230813114412_nagrkot-hiking.jpg', 'article_date' => '2023-08-13 11:43:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18718', 'article_category_id' => '1', 'title' => 'Chances of Rainfall Across the Country until Monday', 'sub_title' => '', 'summary' => 'August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days, as the axis of the monsoon low pressure is situated towards the north (near Nepal) from its normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division said there is the possibility of the monsoon low pressure axis shifting more towards Nepal in the coming some days also due to the influence of the low pressure system developing in the north-west parts of Bihar and areas in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather was generally to completely cloudy throughout the country last night as a result of this weather system with light to moderate rainfall at many places and heavy rain accompanied by thunder and lightning at a few places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin on Saturday, the division has called for adopting precaution in view of the risk of landslide and debris flow in the hill region of the country until Monday. It said there is also the risk of inundation in the urban areas due to the increase in water level in the big and small rivers and rivulets. The division also warned that adverse weather is likely to affect the daily life of people as well as road and air transport. The division has urged the general public and all the bodies concerned to adopt necessary alertness and preparedness to avoid any untoward incident. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Today’s weather</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be fully cloudy throughout the country on Sunday with chances of light to moderate rainfall at many places. There is possibility of heavy to torrential rainfall along with thunder and lightning at a few places of Koshi, Bagmati, Gandaki, Karnali and Sudurpaschim provinces and at one or two places of Madhes and Lumbini provinces on Sunday. </span></span><br /> <span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""><strong>Weather on August 14 </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather will be generally to completely cloudy throughout the country on August 14, Monday, with chances of light to moderate rainfall at many places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces and at a few places of Koshi, Madhes and Bagmati provinces. There is also the possibility of heavy to torrential rainfall accompanied by thunder/lightning at a few places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather bulletin issued by the Division also stated that there are chances of heavy rainfall at one or two places of Koshi and Bagmati provinces on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => 'Nepal, rainfall, heavy, torrential, India, monsoon, pressure, system, forecast ', 'description' => '', 'sortorder' => '18447', 'image' => '20230813104409_rain.jpeg', 'article_date' => '2023-08-13 10:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18717', 'article_category_id' => '1', 'title' => 'NEA Organizes Electric Vehicle Rally to Promote Electricity Consumption', 'sub_title' => '', 'summary' => 'The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rally that began from the NEA headquarters at Ratnapark passed through Maitighar, New Baneshwor, Tinkune, Sinamangal, Airport, Gaushala, Chabahil, Maharajgunj, Lajimpat, Lainchaur and Durbar Marga before concluding at Ratnapark. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inaugurating the event, Shakti Bahadur Basnet, the Minister for Energy, Water Resources, and Irrigation, highlighted the government's commitment to bolstering the use of domestically generated electricity and promoting the adoption of electric appliances and vehicles for a cleaner environment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Emphasizing the significance of electric vehicles, Minister Basnet underscored their potential in reducing the nation's reliance on petroleum-based products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has adopted a policy of purchasing only electric vehicles for urban areas, and converting fuel vehicles into electric ones. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has constructed charging stations in various 51 places, and the construction process has initiated in 13 additional places, according to the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, plans for the construction of charging stations are underway in more than 100 places across the country, it has been informed. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18446', 'image' => '20230813064712_collage (11).jpg', 'article_date' => '2023-08-13 06:45:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18716', 'article_category_id' => '1', 'title' => 'Over 200 Industries Shut Down in Rupandehi in Fiscal Year 2079/80 BS', 'sub_title' => '', 'summary' => 'More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The closure of these industries was attributed to a range of factors, including frequent power outages, economic challenges, and high interest rates imposed by banks. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A significant number of the closed industries were concentrated in Tilottama Municipality, Siddharthangar Municipality, and Butwal Sub-Metropolis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhav Poudel, the President of Rupandehi Chamber of Commerce and Industry, highlighted the alarming situation faced by industrialists within the district. He pointed out that the closure of over 200 industries in a single year underscores the challenges experienced by the local industrial community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Poudel attributed the downfall of small industries to a confluence of factors, such as the COVID-19 pandemic, hefty loan interest rates, and policy-related hindrances in trade.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ujjwal Kasaju, the President of Butwal Chamber of Commerce and Industry and a Central Committee member of the Federation of Nepalese Chambers of Commerce and Industries, provided further insight into the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kasaju expressed that high interest rates on bank loans, difficulties in finding markets, and the incomplete functionality of the airport were among the key contributors to the industrial shutdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of these challenges, some larger-scale industries managed to stay afloat by reducing their production capacity to between 25% and 40% of their usual output.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Netra Prasad Bhusal, the Information Officer at the Office of Cottage and Small Industries in Bhairahawa, the district had a total of approximately 1,030 registered cottage industries. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18445', 'image' => '20230813062239_collage (9).jpg', 'article_date' => '2023-08-13 06:20:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18715', 'article_category_id' => '1', 'title' => 'Paragliding Begins in Sindhuli ', 'sub_title' => '', 'summary' => 'August 11: Paragliding has begun in commercial scale in Sindhuli district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 11: Paragliding has begun in commercial scale in Sindhuli district. It is a first of its kind service in the district. The adventure sport was launched on August 7 while its successful test was conducted on April 25 early this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The service based near Kamalamai Municipality-6 was started at a cost of Rs two million, according to proprietor Netra Jung Thapa. Thapa’s company has been licensed to operate up to five paragliding flights simultaneously and the fee for per person flight is Rs 6,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are however entitled to get a discount of Rs 1,000 for a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sport that falls into the category of adventure tourism is expected to contribute to promotion of tourism in the district. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18444', 'image' => '20230811080849_20220821100035_para.jpg', 'article_date' => '2023-08-11 20:08:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18714', 'article_category_id' => '1', 'title' => 'Nepali Students Struggling to get TU Equivalence of Foreign Degrees Resulting in Brain Drain ', 'sub_title' => '', 'summary' => 'August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. This is likely to result in a brain drain to foreign countries, warned experts.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Students who are struggling to acquire equivalence certificates have accused Tribhuvan University (TU) of being apathetic towards the issue. For instance, over 100 Nepali students who have completed their higher education in India are yet to receive TU recognition for their degrees. This situation has prompted some of them to leave for foreign countries, according to the affected students.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr Sharad Chand from Kanchanpur district, who completed his Ph.D. in Pharmacy from Rajiv Gandhi University of Health Sciences, India, said that they had to endure significant challenges to obtain equivalence certificates from TU. Sharing his personal experience, he said that he had to visit TU almost 60 times over six months to secure recognition from TU. He explained that a Doctor in Pharmacy (Pharma D) is a six-year professional doctoral degree in the Pharmacy stream certified by the Pharmacy Council of India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">This situation has not only fostered negativity about TU among students who possess internationally recognized degrees, but has also left them disappointed, he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"When I initially requested an equivalence certificate, TU provided me with the designation 'Doctor of Pharmacy equivalent to the Pharma D.' However, this equivalence was later revoked through a notice published in Gorkhapatra Daily. When a final decision was reached to pursue a Ph.D. based on the equivalence, it was not considered to be of the master’s level. Following the realization that I did not fulfill the required process for admission, I am still awaiting the equivalence certificate necessary for Ph.D. admission," he explained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He elaborated that he had submitted all the required academic and other documents to the TU Curriculum Development Centre. Based on the recommendation of the university where he had enrolled and the Pharmacy Council of India, the Center issued him an equivalence certificate for Pharma D and advised him to apply for a Ph.D. equivalence as well. However, a few days later, a notice was published in Gorkhapatra, stating that errors were present in the equivalence certificate provided to him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The distinction between integrated and dual degrees is clarified in Clause 13 of Section 5 of the Degree Recognition and Equivalence Determination Procedure, 2078.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Procedure, if Nepali citizens obtain high school, bachelor’s, master’s, and doctoral degrees from foreign universities and apply for TU equivalence certificates within the standards of curricula, credit hours, and examination systems prescribed by the relevant educational institution, the equivalence certificates can be granted through a proper process. Similarly, the Procedure specifies that individuals seeking equivalence or recognition of dual degrees with additional credits at any level will be granted equivalence or recognition based on their credits meeting the established criteria.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Despite fulfilling all the established criteria, the Center has declined to issue equivalence certificates, Dr. Chand complained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As a result of the challenges in obtaining TU equivalence certificates, many qualified technicians are compelled to seek opportunities abroad, stated Kul Bahadur Rawal of Tatopani Rural Municipality in Jumla district. Rawal, who completed a Doctor of Pharmacy from Rajiv Gandhi University of Health Sciences, India, expressed concern that although TU equates Pharma D to a Master's degree, it has not definitively stated whether Pharma D qualifies as a postgraduate (PG) degree. He emphasized that India clearly designates Pharma D as a Master's degree. Rawal accused TU of complicating matters for students seeking equivalence certificates by displaying a dual character.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He further alleged that TU employees engage in misconduct when dealing with students who visit the university for equivalence certificates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The affected students have raised questions about how long they will have to endure losses while seeking equivalence for their degrees. They have been fighting for the past nine years, asserting that their stance is valid in terms of credit hours. They claim that TU employees fail to provide clear responses about whether the submitted documents suffice.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Considering that other universities like Pokhara and Kathmandu lack the authority to grant equivalence certificates, students are demanding the end of TU's monopoly in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr. Rawal emphasized that due to the lack of specification that Pharma D is a postgraduate degree, it is becoming problematic to apply for master’s level programs or jobs. While India explicitly defines Pharma D as a postgraduate degree, TU does not. He raised the question of who will issue equivalence certificates for their graduate and postgraduate degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Aastha Dahal, a PhD graduate from Cambridge University in the United Kingdom, expressed her frustration with TU's apparent indifference towards granting equivalence for foreign degrees. She posed questions about potential differences between postgraduate and master's degrees in Nepal's education policy. She also questioned TU's hesitance to grant equivalence for higher education degrees earned from prestigious foreign universities and raised concerns about political influences in the process. She deemed TU's reluctance concerning and shared her two-year struggle to gain TU recognition for her foreign degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, Prof. Dr. Parasnath Yadav, the Executive Director of the Center, denied the allegations. He stated that equivalence certificates are issued according to the criteria outlined in the Procedure only when all necessary documents are submitted. He clarified that factors such as entrance requirements, course contents, credit hours, and duration are taken into account. Equivalence certificates are granted after receiving input from the Office of the Dean and confirmation. Yadav emphasized that TU grants equivalence when 75 percent of the subject matter, credit hours, and duration are met.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He explained that efforts are underway to digitize the service. He clarified, "We grant equivalence when the required credit hours are met (100 credit hours for bachelor’s, 60 for master’s, and 60 for Ph.D. degrees). Not all fields taught in universities worldwide are available at TU. Programs such as Physiotherapy and Pharma D are not offered here. Pharma D refers to pharmacy, and we have issued equivalence for the Pharma D degree. We have become more flexible in granting equivalence for academic subjects."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Recently, Sumana Shrestha, a member of the House of Representatives from the Rastriya Swatantra Party, brought attention to students' complaints about difficulties in obtaining equivalence certificates for their international degrees. She also mentioned mistreatment by TU employees in the process. She urged that TU be kept free from politics and that the Vice Chancellor be appointed based on merit with executive powers. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18443', 'image' => '20230811073749_307329410_410130534604790_8271674801048263021_n.jpg', 'article_date' => '2023-08-11 19:22:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18713', 'article_category_id' => '1', 'title' => 'SEBON Grants Brokerage Licenses to Three More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The three new companies have been issued licenses to operate as limited stock brokerage companies, according to Mukti Shrestha, the spokesperson for the Securities Board of Nepal (SEBON). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SEBON has granted new broker licenses to these 32 companies in various phases so far. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first phase, seven companies received licenses, followed by 11 in the second phase, 11 in the third phase, and three companies in the fourth phase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the 32 newly-licensed brokerage companies, seventeen have received membership of the Nepal Stock Exchange(NEPSE). Seven companies that received the licenses in the first phase form the SEBON have started trading in the secondary market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eleven companies that have obtained letters of intent are awaiting licenses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These companies will undergo evaluation and inspection by the board and will be issued licenses if they meet the set criteria, said Mukti Shrestha, the spokesperson at the SEBON.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18442', 'image' => '20230811045700_collage (7).jpg', 'article_date' => '2023-08-11 16:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18712', 'article_category_id' => '1', 'title' => 'Return on Equity of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.', '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"">August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.</span></span></span></span></p> <p><span style="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 capital of the banks has increased a lot due to mergers and acquisitions and distribution of bonus shares. Despite increasing the capital, they have not been able to invest the capital proportionately. Because of this, the return of investment of stock investors has decreased. Analysts say that the decrease in return on equity means that the return of shareholders who have invested in banks and financial institutions has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Return on equity (ROE) is given great importance by most of the value investors including Warren Buffett. ROE informs about the rate at which investors can get returns from stock market investments. Value investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from the total assets. Mathematically, ROE is obtained by dividing the net profit by total equity. The longer the company is giving good return on equity, the better it should be considered for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, a company with this index of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15-20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is considered good.</span></span></span></span></p> <p><span style="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 financial statements of the fourth quarter of banks for the last fiscal year, the ROE of </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""> commercial banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on average. In the previous year, the ROE of these banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to the previous year, the ROE of some banks has increased, while the ROE of most of the banks has decreased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the </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"">commercial banks, Standard Chartered Bank had the highest ROE at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. Similarly, NIC Asia Bank was in the second place with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent ROE. The lowest ROE among these banks was of Kumari Bank as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The ROE of </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""> banks was higher than the average, while the ROE of </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"">banks was lower than the average.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investors’ attraction in this sector is declining in recent days due to the decreasing returns of commercial banks. Investors are less attracted to banks as the returns on investments in other sectors are higher than in banks.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18441', 'image' => '20230811045605_bankkkkkkk.jpg', 'article_date' => '2023-08-11 16:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18711', 'article_category_id' => '1', 'title' => 'Government Starts Homework to Improve Taxation System', 'sub_title' => '', 'summary' => 'August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Finance Minister Dr Prakash Sharan Mahat had announced while unveiling the budget on May 29 that the tax payers should pay taxes every month and the details should be submitted quarterly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Inland Revenue Department (IRD) under the Ministry of Finance has already started homework to implement this arrangement. Officials of the department say that homework has been started to develop the currently operating online system in accordance with the budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the Director of IRD, Raju Prasad Pyakurel, the current online system is not developed in such a way that the records can be maintained on a quarterly basis. For this, the core team of the department is making necessary arrangements.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Taxpayers who are registered for value added tax and have annual turnover of up to Rs 10 million are currently required to submit their tax returns and their details every month. After the system upgrade, taxpayers will be able to submit tax returns and tax statements every 4 months. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Likewise, homework is being done to form a high-level committee for reforming the existing tax system. Department sources said that a high-level committee will be formed within the next week and will start work immediately. The department is also going to advance the work of interconnection and automation of the institutional information systems by integrating the financial transaction information.</span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The budget for this FY has stated that the government will strengthen the information system and set the minimum limit of the transaction amount according to the nature of the transaction. Similarly, it was announced that tax payers who transact more than Rs 250 million per year will be included in the central invoice monitoring system in order to compulsorily issue invoices through the electronic system. Officials of the department say that they are making necessary preparations to implement it.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => 'tax, system, budget, Nepal, government, improvement, quarterly, four, months', 'description' => '', 'sortorder' => '18440', 'image' => '20230811041348_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2023-08-11 16:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18710', 'article_category_id' => '1', 'title' => '48 Internet Service Providers Fail to Pay Royalties', 'sub_title' => '', 'summary' => 'August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and tax for the Rural Telecommunication Development Fund.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has issued a notification and asked the ISPs to submit the outstanding amount to be paid to the government by the mid-August in a designated bank account with fines. The ISPs have been instructed to clearly disclose their name and fiscal year for which the amount has been paid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, if the amount is not paid even within the specified period, action will be taken as per the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, big internet companies including Subisu, Classic Tech, Mercantile have not paid the royalty amount and Rural Telecommunication Development Fund taxes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Telecommunications Act, 2053, the service providers licensed by the authority must deposit 4 percent of the total income as royalty and 2 percent of the total income under the Rural Telecommunication Development Fund every year. The NTA uses the amount deposited in the fund for the development, extension and operation of telecommunication services in the rural area as per the policy of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is stated in the notice issued by the authority that despite repeated requests, the Internet service providers did not submit the amount.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report published by the authority in December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18439', 'image' => '20230811012501_20230411103022_Internett.jpg', 'article_date' => '2023-08-11 13:22:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18709', 'article_category_id' => '1', 'title' => 'Export of Pashmina Items Increased by 15 Percent Last Year', 'sub_title' => '', 'summary' => 'August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).', '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:"Nirmala UI","sans-serif"">August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Department of Customs, Nepal exported pashmina worth Rs 3.24 billion last year. This amount is 15 percent more than the previous year. In the previous year, Nepal earned foreign currencies worth Rs 2.82 billion from pashmina exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The income from pashmina exports has been increasing since the last four 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:"Nirmala UI","sans-serif"">If we look at the data of the Department of Customs, the volume of export of pashmina items has been increasing since </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2019/20</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina goods worth more than Rs 2.26 billion were exported in that year. In </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">, the export of pashmina increased to more than Rs 2.7 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:"Nirmala UI","sans-serif"">Businessmen are excited due to the increase in export of pashmina.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">They claim that its export amount will increase further in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina was ranked 12th in terms of export earnings last year. Businessmen say it production and export of pashmina is important to reduce the country's trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">President of Nepal Pashmina Industry Association Vijay Kumar Dugad says that there has been a lot of improvement in the pashmina industry after the Covid-19. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, the trade of Nepali pashmina has improved not only in foreign countries but also within 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:"Nirmala UI","sans-serif"">"After the Covid-19, the business of pashmina has increased in Thamel, Patan, Pokhara and other areas with the increase in the number of tourists visiting Nepal," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He says that Nepal's exports have also improved. In previous years, only pashmina shawls and scarves were exported from Nepal. However, now the pattern of export has changed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">There is a good demand for shawls, scarves, knitted sweaters, socks, blouses, in the international market, he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Dugad, Nepali pashmina is mostly exported to countries like America, Japan and European countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government has introduced the 'Pashmina Export National Strategy' with the goal of increasing the export of pashmina to US dollars 75 million (more than Rs 9.96 billion based on the latest US dollar exchange rate) by 2026. As part of this strategy, the government has operated wool collection centers in Mustang, Manang, Dolpa and other districts to increase pashmina yarn production in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Dugad informed that the farmers there have also been trained in extracting wool from chyangra, a kind of Himalayan sheep found in high altitude areas. According to him, 800 wool samples from 4 villages of Mustang have been sent to Mongolia to test the advanced breeds of sheep in Nepal. Nepal is now importing raw materials of pashmina from Mongolia, China and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“The government has already started a lot of work under the Pashmina Export National Strategy. This is the reason why the export has improved. It seems that exports will increase in the coming days as well," said Dugad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, there are about 15,000 industries related to pashmina across the country. He claims that nearly 50,000 people are directly employed in these industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18438', 'image' => '20230811120939_100_percent_1.jpg', 'article_date' => '2023-08-11 12:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18708', 'article_category_id' => '1', 'title' => 'Nepal makes Giant Stride in Electricity Generation in the Last Ten Years', 'sub_title' => '', 'summary' => 'August 11: Nepal has achieved great progress in the electricity sector in the last 10 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 11: Nepal has achieved great progress in the electricity sector in the last 10 years. Until 10 years ago, there used to be terrible load shedding while the power generation capacity was not even 1000 MW, and no electrification was available except in cities and market areas in Nepal. However, the situation has changed a lot now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The installed capacity of electricity produced in Nepal has reached around 3,000 megawatts. About 1,000 megawatts of electricity is produced by the Electricity Authority and its subsidiary companies, while almost 2,000 megawatts of electricity is produced by the private sector including projects that started trial production but have not started commercial production yet. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is also earning foreign currency by exporting up to 500 megawatts of electricity during the rainy season. However, in winter, Nepal will have to continue importing electricity for a few more years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to various studies, Nepal's power generation capacity is more than 200,000 megawatts. According to Prakash Dulal, Deputy Secretary General of the Independent Power Producers Association of Nepal (IPPAN), the financially feasible production capacity is 72,500 MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to this calculation, Nepal is currently producing only 4 percent of its capacity. Nepal has a potential to produce about 30,000 megawatts of solar power but has not yet produced even 100 megawatts. Solar energy is considered very important for energy mix.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the data presented by IPPAN in various forums, hydroelectricity projects with capacity of 4,500 megawatts are currently under construction in Nepal with investments from the government, private sector and foreign investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, projects with capacity of around 10,000 megawatts are in a position to go into construction immediately if the investment and market is ensured. In addition to this, projects with capacity of 12,000 megawatts are awaiting power purchase and sale agreements, while projects of the same capacity are under study, says Deputy Secretary General Dulal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Assuming an average cost of Rs 20 million per megawatt, it seems that an investment of Rs 60 billion is required to generate 30,000 megawatts of electricity in 10 years. A study conducted by the Nepal Electricity Authority shows that an additional investment of around Rs 8 billion to Rs 10 billion is required for the construction of transmission lines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Indian investment in Nepal's hydropower</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India has started investing in Nepal's hydropower sector including the 900 MW Arun 3. Sutlej Jalvidyut Nigam, which is owned by the Government of India, invested in the project under construction in Sankhuwasabha. India, which has entered Nepal through Arun 3, has recently been looking to expand investment in Nepal extensively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is showing interest in the construction of 3,000 megawatt capacity projects in the Arun river basin alone along with other three large projects in western Nepal as well. India also has a great interest in the Karnali river basin. However the private sector of India has not yet been able to advance any project in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">But after Prime Minister Pushpa Kamal Dahal's visit to India in May, India assured to buy 10,000 megawatts of electricity from Nepal in 10 years. The private sector of India is also now calculating profit and loss in hydropower generation in Nepal. Private sector promoters say that big Indian companies are looking for access to Nepal's electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower projects that India intends to develop</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is constructing Arun-3 of 900 MW in the Arun river basin in addition to signing of agreement to build the Lower Arun of 679 MW and Arun-4 of 490 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Sources at the Ministry of Energy say that they are also proposing to build the 1,061 MW Upper Arun and 756 MW Tamor reservoir projects by themselves. In this way, it seems that India is trying to advance projects with a capacity of 2,986 MW in the Arun river basin alone. Similarly, in western Nepal, India has already signed an agreement to produce 7,680 megawatts of electricity by undertaking the 6,480 megawatt Pancheswar (Nepal-India joint venture), 750 megawatt West Seti, and 450 megawatt Seti river-6 projects. An agreement has been reached for the construction of 900 MW Upper Karnali, 480 MW Fukot Karnali hydropower projects in the Karnali river basin, while attempts are being made to construct the 1,902 MW Mugu Karnali and 10,800 MW Karnali Chisapani projects with Indian investment.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18437', 'image' => '20230811105846_electricity.jpg', 'article_date' => '2023-08-11 10:57:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18707', 'article_category_id' => '1', 'title' => 'DoFE's Online Service Back in Operation', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kabiraj Uprety, the Department's Information Officer and Director, confirmed that the online service has been fully restored, making the issuance of work permits a more streamlined process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following the restoration of the FEIMS system, the Department has commenced the approval process for work permits. A notice has been issued to service recipients, informing them of the service's reinstatement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, individuals can now register their applications for labor permits online.</span></span></p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18436', 'image' => '20230811060633_collage (8).jpg', 'article_date' => '2023-08-11 06:04:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 13: The review meeting of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. The meeting reviewed the progress of the project in various stages of implementation. India has provided an amount equal to US$ </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"">.65 billion to Nepal under the LoC. The Government of Nepal has been investing this amount in priority projects for infrastructure development.</span></span></span></span></p> <p><span style="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 LoC has financed more than </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""> road projects related to hydropower and transmission lines and six projects of housing and reconstruction. Under the LoC project, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,105</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km of road construction has been completed.</span></span></span></span></p> <p><span style="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 expected that the transmission lines under the LOC projects including the </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""> KV Koshi Corridor, </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 Modi Lekhnath, </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 Solu Corridor 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 Dhalkebar-Bhithamod will greatly help in power supply. </span></span></span></span></p> <p><span style="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 India has also agreed to invest US$ </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under LoC for the construction of Bheri Corridor, Nijgadh-Inaruwa, Gandak Nepalgunj transmission line and substations of these transmission 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"">Joint Secretary of the Indian Ministry of External Affairs (Development Partnership Administration) A Ajay Kumar led the team which included representatives from the Indian Embassy and Exim 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"">Similarly, Shri Krishna Nepal, joint secretary of the Ministry of Finance, led the delegation of Nepal during the meeting. Officials from various departments involved in the implementation of the LoC projects were also a part of the Nepalese delegation.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18451', 'image' => '20230813014333_1691887849.4 Meeting .jpg', 'article_date' => '2023-08-13 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18720', 'article_category_id' => '1', 'title' => 'Rescue Flights not Prohibited beyond 'Operation Hours' : CAAN ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Civil Aviation Authority of Nepal (CAAN) has clarified that no flights meant for rescue operations have been prohibited in remote areas beyond the 'operation hours'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recent decision of the CAAN mandates airlines to conduct flights to remove areas only within the fixed time schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision is said to be for mitigating the risk of air incidents during the monsoon season and to enhance flight safety. However, CAAN has been criticized for the move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN spokesperson Jagannath Niraula said that the restriction on flight beyond the operating hours is only applicable during the monsoon period and is not targeted at rescue flights. The prohibition is just for commercial flight in remote areas. The CAAN said typically the 'operation hours' for airports based in remote areas begin at 6:30 am and end at 12:30 in the afternoon. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18449', 'image' => '20230813124844_caan.jpg', 'article_date' => '2023-08-13 12:47:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18719', 'article_category_id' => '1', 'title' => 'Expansion of Bhaktapur-Nagarkot Road yet to Complete in a Decade', 'sub_title' => '', 'summary' => 'August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. The road has potholes everywhere and blacktopping work has been stalled in the area from the Kharipati barracks of the Nepalese Army to the front of the Changu Narayan Municipality office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The road has cracks in many places posing a risk of landslide especially along the turn at the barracks. The road turns muddy during monsoon and dusty during the dry season affecting the people residing on the road sides. The solid water from the unmanaged drainage enters the houses on the roadsides. A person died in the course of the construction of the road in the Bastola settlement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project completion deadline extended for ninth time</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Started in June, 2014 with the target of completing the work within two years, the project deadline has been extended for the ninth time so far. According to the latest deadline extended on 19 July, 2023, the project should be completed by 14 January, 2024, said sub engineer Sumita Dhukuchhu of the Bhaktapur-Nagarkot Road Planning Office, who is assigned to test the quality of the road. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">“Work on around 500 meters of road remains to be completed. The construction company has pledged to repair the damaged road, and hand the project over after completion in two months,” she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shailung Construction and Indian Aravali Infrapower Limited jointly won the contract to undertake the project at the initial cost of Rs 270 million provided by the Export-Import Bank of India (Exim Bank) as loans. But the project cost has now reached Rs 310 million including VAT, she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Around five months ago, the Road Improvement and Development Project Directorate under the Ministry of Physical Infrastructure and Transport had issued a notice warning to terminate the contract within 14 days if the 15.6 km road is not completed within the deadline. During a monitoring on 2 March, 2023, then Deputy Prime Minister Narayan Kaji Shrestha had warned of canceling the contract if the construction company failed to complete the project within 13 April, 2023. On the occasion, Ambassador of India to Nepal Naveen Srivastava was also present.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Monitoring of the project</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team of representatives of political parties and people's representatives led by Chief District Officer of Bhaktapur Khagendra Prasad Rijal, which recently monitored the road, concluded that the road construction is of poor quality.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">On 14 November, 2021, then Minister for Physical Infrastructure and Transport Renu Kumari Yadav had also monitored the project and warned of canceling the contract of the construction company if the project was not completed within two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">During the monitoring by the two ministers, the locals had urged them to take initiatives for completing the project soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Earlier on 29 July, 2019, the Development and Technology Committee under the House of Representatives during a monitoring had asked the contractor to blacktop the road for the Visit Nepal, 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, on 20 November, 2019, a team led by joint secretary Yam Lal Bhusal inspected the road at the directive of then Prime Minister KP Sharma Oli. Also, various separate teams involving then Minister for Physical Planning Basanta Nembang, then minister and lawmaker Mahesh Basnet, then mayor of Changunarayan Municipality Som Prasad Mishra, the municipality mayor Jiban Khatri and deputy mayor Ramesh Budhathoki time and again inspected the project, and assured of the project completion soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team led by then municipality mayor Mishra had a separate meeting with Prime Minister Pushpa Kamal Dahal, and then PMs Sher Bahadur Deuba and Oli demanding the completion of the road soon. "We met and submitted a memorandum to PMs and ministers demanding the road completion soon but to no avail. I feel the contractor is more powerful than the government," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Although the project nears completion, it requires repair before completion due to low quality work on blacktopping, said CDO Rijal. He said pressure would be put on the construction company to complete the project before the upcoming Dashain festival that is taking place in more than three months this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">. Political leaders and local people including Rastriya Prajatantra Party central deputy general secretary Rabindra Pratap Shah and district chairperson of the Nepal Workers Peasants Party Nhuchhe Bhakta Phoju have demanded action against the construction company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Ward-6 chair of the municipality demanded the completion of the project before the Nagarkot Road Festival that is taking place before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The project’s sub engineer Sadhana Tiwari has blamed the Nepalese Army for not allowing the construction of a drainage system which has caused the release of the water from the drainage at Ghumaune into the road. Similarly, the release of the wastewater from Shivashikhar cooperative, and from various factories in the area into the road has caused potholes while landslides at the U-turn caused by land plotting have halted the road construction from time to time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A small drainage system built by the municipality along the feeder roads, and the deposition of river materials along the road damaged the road, she said, adding that there is also a risk of the water flowing into the road when the culverts are filled.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Anup Adhikari, the project manager of Shailung Construction, said the project deadline was extended as per the Public Procurement Regulations (12th Amendment), and the project would be handed over after completion within two months. Electricity poles at the Nagarkot Bus Park should be moved, and for this, payments have been made to the Nepal Electricity Authority. Remaining construction work will be completed shortly after the poles are moved, he said. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18448', 'image' => '20230813114412_nagrkot-hiking.jpg', 'article_date' => '2023-08-13 11:43:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18718', 'article_category_id' => '1', 'title' => 'Chances of Rainfall Across the Country until Monday', 'sub_title' => '', 'summary' => 'August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days, as the axis of the monsoon low pressure is situated towards the north (near Nepal) from its normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division said there is the possibility of the monsoon low pressure axis shifting more towards Nepal in the coming some days also due to the influence of the low pressure system developing in the north-west parts of Bihar and areas in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather was generally to completely cloudy throughout the country last night as a result of this weather system with light to moderate rainfall at many places and heavy rain accompanied by thunder and lightning at a few places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin on Saturday, the division has called for adopting precaution in view of the risk of landslide and debris flow in the hill region of the country until Monday. It said there is also the risk of inundation in the urban areas due to the increase in water level in the big and small rivers and rivulets. The division also warned that adverse weather is likely to affect the daily life of people as well as road and air transport. The division has urged the general public and all the bodies concerned to adopt necessary alertness and preparedness to avoid any untoward incident. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Today’s weather</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be fully cloudy throughout the country on Sunday with chances of light to moderate rainfall at many places. There is possibility of heavy to torrential rainfall along with thunder and lightning at a few places of Koshi, Bagmati, Gandaki, Karnali and Sudurpaschim provinces and at one or two places of Madhes and Lumbini provinces on Sunday. </span></span><br /> <span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""><strong>Weather on August 14 </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather will be generally to completely cloudy throughout the country on August 14, Monday, with chances of light to moderate rainfall at many places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces and at a few places of Koshi, Madhes and Bagmati provinces. There is also the possibility of heavy to torrential rainfall accompanied by thunder/lightning at a few places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather bulletin issued by the Division also stated that there are chances of heavy rainfall at one or two places of Koshi and Bagmati provinces on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => 'Nepal, rainfall, heavy, torrential, India, monsoon, pressure, system, forecast ', 'description' => '', 'sortorder' => '18447', 'image' => '20230813104409_rain.jpeg', 'article_date' => '2023-08-13 10:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18717', 'article_category_id' => '1', 'title' => 'NEA Organizes Electric Vehicle Rally to Promote Electricity Consumption', 'sub_title' => '', 'summary' => 'The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rally that began from the NEA headquarters at Ratnapark passed through Maitighar, New Baneshwor, Tinkune, Sinamangal, Airport, Gaushala, Chabahil, Maharajgunj, Lajimpat, Lainchaur and Durbar Marga before concluding at Ratnapark. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inaugurating the event, Shakti Bahadur Basnet, the Minister for Energy, Water Resources, and Irrigation, highlighted the government's commitment to bolstering the use of domestically generated electricity and promoting the adoption of electric appliances and vehicles for a cleaner environment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Emphasizing the significance of electric vehicles, Minister Basnet underscored their potential in reducing the nation's reliance on petroleum-based products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has adopted a policy of purchasing only electric vehicles for urban areas, and converting fuel vehicles into electric ones. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has constructed charging stations in various 51 places, and the construction process has initiated in 13 additional places, according to the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, plans for the construction of charging stations are underway in more than 100 places across the country, it has been informed. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18446', 'image' => '20230813064712_collage (11).jpg', 'article_date' => '2023-08-13 06:45:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18716', 'article_category_id' => '1', 'title' => 'Over 200 Industries Shut Down in Rupandehi in Fiscal Year 2079/80 BS', 'sub_title' => '', 'summary' => 'More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The closure of these industries was attributed to a range of factors, including frequent power outages, economic challenges, and high interest rates imposed by banks. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A significant number of the closed industries were concentrated in Tilottama Municipality, Siddharthangar Municipality, and Butwal Sub-Metropolis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhav Poudel, the President of Rupandehi Chamber of Commerce and Industry, highlighted the alarming situation faced by industrialists within the district. He pointed out that the closure of over 200 industries in a single year underscores the challenges experienced by the local industrial community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Poudel attributed the downfall of small industries to a confluence of factors, such as the COVID-19 pandemic, hefty loan interest rates, and policy-related hindrances in trade.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ujjwal Kasaju, the President of Butwal Chamber of Commerce and Industry and a Central Committee member of the Federation of Nepalese Chambers of Commerce and Industries, provided further insight into the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kasaju expressed that high interest rates on bank loans, difficulties in finding markets, and the incomplete functionality of the airport were among the key contributors to the industrial shutdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of these challenges, some larger-scale industries managed to stay afloat by reducing their production capacity to between 25% and 40% of their usual output.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Netra Prasad Bhusal, the Information Officer at the Office of Cottage and Small Industries in Bhairahawa, the district had a total of approximately 1,030 registered cottage industries. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18445', 'image' => '20230813062239_collage (9).jpg', 'article_date' => '2023-08-13 06:20:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18715', 'article_category_id' => '1', 'title' => 'Paragliding Begins in Sindhuli ', 'sub_title' => '', 'summary' => 'August 11: Paragliding has begun in commercial scale in Sindhuli district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 11: Paragliding has begun in commercial scale in Sindhuli district. It is a first of its kind service in the district. The adventure sport was launched on August 7 while its successful test was conducted on April 25 early this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The service based near Kamalamai Municipality-6 was started at a cost of Rs two million, according to proprietor Netra Jung Thapa. Thapa’s company has been licensed to operate up to five paragliding flights simultaneously and the fee for per person flight is Rs 6,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are however entitled to get a discount of Rs 1,000 for a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sport that falls into the category of adventure tourism is expected to contribute to promotion of tourism in the district. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18444', 'image' => '20230811080849_20220821100035_para.jpg', 'article_date' => '2023-08-11 20:08:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18714', 'article_category_id' => '1', 'title' => 'Nepali Students Struggling to get TU Equivalence of Foreign Degrees Resulting in Brain Drain ', 'sub_title' => '', 'summary' => 'August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. This is likely to result in a brain drain to foreign countries, warned experts.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Students who are struggling to acquire equivalence certificates have accused Tribhuvan University (TU) of being apathetic towards the issue. For instance, over 100 Nepali students who have completed their higher education in India are yet to receive TU recognition for their degrees. This situation has prompted some of them to leave for foreign countries, according to the affected students.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr Sharad Chand from Kanchanpur district, who completed his Ph.D. in Pharmacy from Rajiv Gandhi University of Health Sciences, India, said that they had to endure significant challenges to obtain equivalence certificates from TU. Sharing his personal experience, he said that he had to visit TU almost 60 times over six months to secure recognition from TU. He explained that a Doctor in Pharmacy (Pharma D) is a six-year professional doctoral degree in the Pharmacy stream certified by the Pharmacy Council of India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">This situation has not only fostered negativity about TU among students who possess internationally recognized degrees, but has also left them disappointed, he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"When I initially requested an equivalence certificate, TU provided me with the designation 'Doctor of Pharmacy equivalent to the Pharma D.' However, this equivalence was later revoked through a notice published in Gorkhapatra Daily. When a final decision was reached to pursue a Ph.D. based on the equivalence, it was not considered to be of the master’s level. Following the realization that I did not fulfill the required process for admission, I am still awaiting the equivalence certificate necessary for Ph.D. admission," he explained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He elaborated that he had submitted all the required academic and other documents to the TU Curriculum Development Centre. Based on the recommendation of the university where he had enrolled and the Pharmacy Council of India, the Center issued him an equivalence certificate for Pharma D and advised him to apply for a Ph.D. equivalence as well. However, a few days later, a notice was published in Gorkhapatra, stating that errors were present in the equivalence certificate provided to him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The distinction between integrated and dual degrees is clarified in Clause 13 of Section 5 of the Degree Recognition and Equivalence Determination Procedure, 2078.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Procedure, if Nepali citizens obtain high school, bachelor’s, master’s, and doctoral degrees from foreign universities and apply for TU equivalence certificates within the standards of curricula, credit hours, and examination systems prescribed by the relevant educational institution, the equivalence certificates can be granted through a proper process. Similarly, the Procedure specifies that individuals seeking equivalence or recognition of dual degrees with additional credits at any level will be granted equivalence or recognition based on their credits meeting the established criteria.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Despite fulfilling all the established criteria, the Center has declined to issue equivalence certificates, Dr. Chand complained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As a result of the challenges in obtaining TU equivalence certificates, many qualified technicians are compelled to seek opportunities abroad, stated Kul Bahadur Rawal of Tatopani Rural Municipality in Jumla district. Rawal, who completed a Doctor of Pharmacy from Rajiv Gandhi University of Health Sciences, India, expressed concern that although TU equates Pharma D to a Master's degree, it has not definitively stated whether Pharma D qualifies as a postgraduate (PG) degree. He emphasized that India clearly designates Pharma D as a Master's degree. Rawal accused TU of complicating matters for students seeking equivalence certificates by displaying a dual character.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He further alleged that TU employees engage in misconduct when dealing with students who visit the university for equivalence certificates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The affected students have raised questions about how long they will have to endure losses while seeking equivalence for their degrees. They have been fighting for the past nine years, asserting that their stance is valid in terms of credit hours. They claim that TU employees fail to provide clear responses about whether the submitted documents suffice.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Considering that other universities like Pokhara and Kathmandu lack the authority to grant equivalence certificates, students are demanding the end of TU's monopoly in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr. Rawal emphasized that due to the lack of specification that Pharma D is a postgraduate degree, it is becoming problematic to apply for master’s level programs or jobs. While India explicitly defines Pharma D as a postgraduate degree, TU does not. He raised the question of who will issue equivalence certificates for their graduate and postgraduate degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Aastha Dahal, a PhD graduate from Cambridge University in the United Kingdom, expressed her frustration with TU's apparent indifference towards granting equivalence for foreign degrees. She posed questions about potential differences between postgraduate and master's degrees in Nepal's education policy. She also questioned TU's hesitance to grant equivalence for higher education degrees earned from prestigious foreign universities and raised concerns about political influences in the process. She deemed TU's reluctance concerning and shared her two-year struggle to gain TU recognition for her foreign degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, Prof. Dr. Parasnath Yadav, the Executive Director of the Center, denied the allegations. He stated that equivalence certificates are issued according to the criteria outlined in the Procedure only when all necessary documents are submitted. He clarified that factors such as entrance requirements, course contents, credit hours, and duration are taken into account. Equivalence certificates are granted after receiving input from the Office of the Dean and confirmation. Yadav emphasized that TU grants equivalence when 75 percent of the subject matter, credit hours, and duration are met.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He explained that efforts are underway to digitize the service. He clarified, "We grant equivalence when the required credit hours are met (100 credit hours for bachelor’s, 60 for master’s, and 60 for Ph.D. degrees). Not all fields taught in universities worldwide are available at TU. Programs such as Physiotherapy and Pharma D are not offered here. Pharma D refers to pharmacy, and we have issued equivalence for the Pharma D degree. We have become more flexible in granting equivalence for academic subjects."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Recently, Sumana Shrestha, a member of the House of Representatives from the Rastriya Swatantra Party, brought attention to students' complaints about difficulties in obtaining equivalence certificates for their international degrees. She also mentioned mistreatment by TU employees in the process. She urged that TU be kept free from politics and that the Vice Chancellor be appointed based on merit with executive powers. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18443', 'image' => '20230811073749_307329410_410130534604790_8271674801048263021_n.jpg', 'article_date' => '2023-08-11 19:22:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18713', 'article_category_id' => '1', 'title' => 'SEBON Grants Brokerage Licenses to Three More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The three new companies have been issued licenses to operate as limited stock brokerage companies, according to Mukti Shrestha, the spokesperson for the Securities Board of Nepal (SEBON). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SEBON has granted new broker licenses to these 32 companies in various phases so far. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first phase, seven companies received licenses, followed by 11 in the second phase, 11 in the third phase, and three companies in the fourth phase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the 32 newly-licensed brokerage companies, seventeen have received membership of the Nepal Stock Exchange(NEPSE). Seven companies that received the licenses in the first phase form the SEBON have started trading in the secondary market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eleven companies that have obtained letters of intent are awaiting licenses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These companies will undergo evaluation and inspection by the board and will be issued licenses if they meet the set criteria, said Mukti Shrestha, the spokesperson at the SEBON.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18442', 'image' => '20230811045700_collage (7).jpg', 'article_date' => '2023-08-11 16:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18712', 'article_category_id' => '1', 'title' => 'Return on Equity of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.', '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"">August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.</span></span></span></span></p> <p><span style="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 capital of the banks has increased a lot due to mergers and acquisitions and distribution of bonus shares. Despite increasing the capital, they have not been able to invest the capital proportionately. Because of this, the return of investment of stock investors has decreased. Analysts say that the decrease in return on equity means that the return of shareholders who have invested in banks and financial institutions has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Return on equity (ROE) is given great importance by most of the value investors including Warren Buffett. ROE informs about the rate at which investors can get returns from stock market investments. Value investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from the total assets. Mathematically, ROE is obtained by dividing the net profit by total equity. The longer the company is giving good return on equity, the better it should be considered for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, a company with this index of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15-20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is considered good.</span></span></span></span></p> <p><span style="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 financial statements of the fourth quarter of banks for the last fiscal year, the ROE of </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""> commercial banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on average. In the previous year, the ROE of these banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to the previous year, the ROE of some banks has increased, while the ROE of most of the banks has decreased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the </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"">commercial banks, Standard Chartered Bank had the highest ROE at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. Similarly, NIC Asia Bank was in the second place with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent ROE. The lowest ROE among these banks was of Kumari Bank as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The ROE of </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""> banks was higher than the average, while the ROE of </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"">banks was lower than the average.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investors’ attraction in this sector is declining in recent days due to the decreasing returns of commercial banks. Investors are less attracted to banks as the returns on investments in other sectors are higher than in banks.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18441', 'image' => '20230811045605_bankkkkkkk.jpg', 'article_date' => '2023-08-11 16:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18711', 'article_category_id' => '1', 'title' => 'Government Starts Homework to Improve Taxation System', 'sub_title' => '', 'summary' => 'August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Finance Minister Dr Prakash Sharan Mahat had announced while unveiling the budget on May 29 that the tax payers should pay taxes every month and the details should be submitted quarterly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Inland Revenue Department (IRD) under the Ministry of Finance has already started homework to implement this arrangement. Officials of the department say that homework has been started to develop the currently operating online system in accordance with the budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the Director of IRD, Raju Prasad Pyakurel, the current online system is not developed in such a way that the records can be maintained on a quarterly basis. For this, the core team of the department is making necessary arrangements.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Taxpayers who are registered for value added tax and have annual turnover of up to Rs 10 million are currently required to submit their tax returns and their details every month. After the system upgrade, taxpayers will be able to submit tax returns and tax statements every 4 months. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Likewise, homework is being done to form a high-level committee for reforming the existing tax system. Department sources said that a high-level committee will be formed within the next week and will start work immediately. The department is also going to advance the work of interconnection and automation of the institutional information systems by integrating the financial transaction information.</span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The budget for this FY has stated that the government will strengthen the information system and set the minimum limit of the transaction amount according to the nature of the transaction. Similarly, it was announced that tax payers who transact more than Rs 250 million per year will be included in the central invoice monitoring system in order to compulsorily issue invoices through the electronic system. Officials of the department say that they are making necessary preparations to implement it.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => 'tax, system, budget, Nepal, government, improvement, quarterly, four, months', 'description' => '', 'sortorder' => '18440', 'image' => '20230811041348_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2023-08-11 16:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18710', 'article_category_id' => '1', 'title' => '48 Internet Service Providers Fail to Pay Royalties', 'sub_title' => '', 'summary' => 'August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and tax for the Rural Telecommunication Development Fund.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has issued a notification and asked the ISPs to submit the outstanding amount to be paid to the government by the mid-August in a designated bank account with fines. The ISPs have been instructed to clearly disclose their name and fiscal year for which the amount has been paid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, if the amount is not paid even within the specified period, action will be taken as per the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, big internet companies including Subisu, Classic Tech, Mercantile have not paid the royalty amount and Rural Telecommunication Development Fund taxes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Telecommunications Act, 2053, the service providers licensed by the authority must deposit 4 percent of the total income as royalty and 2 percent of the total income under the Rural Telecommunication Development Fund every year. The NTA uses the amount deposited in the fund for the development, extension and operation of telecommunication services in the rural area as per the policy of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is stated in the notice issued by the authority that despite repeated requests, the Internet service providers did not submit the amount.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report published by the authority in December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18439', 'image' => '20230811012501_20230411103022_Internett.jpg', 'article_date' => '2023-08-11 13:22:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18709', 'article_category_id' => '1', 'title' => 'Export of Pashmina Items Increased by 15 Percent Last Year', 'sub_title' => '', 'summary' => 'August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).', '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:"Nirmala UI","sans-serif"">August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Department of Customs, Nepal exported pashmina worth Rs 3.24 billion last year. This amount is 15 percent more than the previous year. In the previous year, Nepal earned foreign currencies worth Rs 2.82 billion from pashmina exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The income from pashmina exports has been increasing since the last four 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:"Nirmala UI","sans-serif"">If we look at the data of the Department of Customs, the volume of export of pashmina items has been increasing since </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2019/20</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina goods worth more than Rs 2.26 billion were exported in that year. In </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">, the export of pashmina increased to more than Rs 2.7 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:"Nirmala UI","sans-serif"">Businessmen are excited due to the increase in export of pashmina.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">They claim that its export amount will increase further in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina was ranked 12th in terms of export earnings last year. Businessmen say it production and export of pashmina is important to reduce the country's trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">President of Nepal Pashmina Industry Association Vijay Kumar Dugad says that there has been a lot of improvement in the pashmina industry after the Covid-19. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, the trade of Nepali pashmina has improved not only in foreign countries but also within 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:"Nirmala UI","sans-serif"">"After the Covid-19, the business of pashmina has increased in Thamel, Patan, Pokhara and other areas with the increase in the number of tourists visiting Nepal," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He says that Nepal's exports have also improved. In previous years, only pashmina shawls and scarves were exported from Nepal. However, now the pattern of export has changed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">There is a good demand for shawls, scarves, knitted sweaters, socks, blouses, in the international market, he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Dugad, Nepali pashmina is mostly exported to countries like America, Japan and European countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government has introduced the 'Pashmina Export National Strategy' with the goal of increasing the export of pashmina to US dollars 75 million (more than Rs 9.96 billion based on the latest US dollar exchange rate) by 2026. As part of this strategy, the government has operated wool collection centers in Mustang, Manang, Dolpa and other districts to increase pashmina yarn production in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Dugad informed that the farmers there have also been trained in extracting wool from chyangra, a kind of Himalayan sheep found in high altitude areas. According to him, 800 wool samples from 4 villages of Mustang have been sent to Mongolia to test the advanced breeds of sheep in Nepal. Nepal is now importing raw materials of pashmina from Mongolia, China and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“The government has already started a lot of work under the Pashmina Export National Strategy. This is the reason why the export has improved. It seems that exports will increase in the coming days as well," said Dugad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, there are about 15,000 industries related to pashmina across the country. He claims that nearly 50,000 people are directly employed in these industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18438', 'image' => '20230811120939_100_percent_1.jpg', 'article_date' => '2023-08-11 12:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18708', 'article_category_id' => '1', 'title' => 'Nepal makes Giant Stride in Electricity Generation in the Last Ten Years', 'sub_title' => '', 'summary' => 'August 11: Nepal has achieved great progress in the electricity sector in the last 10 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 11: Nepal has achieved great progress in the electricity sector in the last 10 years. Until 10 years ago, there used to be terrible load shedding while the power generation capacity was not even 1000 MW, and no electrification was available except in cities and market areas in Nepal. However, the situation has changed a lot now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The installed capacity of electricity produced in Nepal has reached around 3,000 megawatts. About 1,000 megawatts of electricity is produced by the Electricity Authority and its subsidiary companies, while almost 2,000 megawatts of electricity is produced by the private sector including projects that started trial production but have not started commercial production yet. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is also earning foreign currency by exporting up to 500 megawatts of electricity during the rainy season. However, in winter, Nepal will have to continue importing electricity for a few more years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to various studies, Nepal's power generation capacity is more than 200,000 megawatts. According to Prakash Dulal, Deputy Secretary General of the Independent Power Producers Association of Nepal (IPPAN), the financially feasible production capacity is 72,500 MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to this calculation, Nepal is currently producing only 4 percent of its capacity. Nepal has a potential to produce about 30,000 megawatts of solar power but has not yet produced even 100 megawatts. Solar energy is considered very important for energy mix.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the data presented by IPPAN in various forums, hydroelectricity projects with capacity of 4,500 megawatts are currently under construction in Nepal with investments from the government, private sector and foreign investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, projects with capacity of around 10,000 megawatts are in a position to go into construction immediately if the investment and market is ensured. In addition to this, projects with capacity of 12,000 megawatts are awaiting power purchase and sale agreements, while projects of the same capacity are under study, says Deputy Secretary General Dulal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Assuming an average cost of Rs 20 million per megawatt, it seems that an investment of Rs 60 billion is required to generate 30,000 megawatts of electricity in 10 years. A study conducted by the Nepal Electricity Authority shows that an additional investment of around Rs 8 billion to Rs 10 billion is required for the construction of transmission lines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Indian investment in Nepal's hydropower</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India has started investing in Nepal's hydropower sector including the 900 MW Arun 3. Sutlej Jalvidyut Nigam, which is owned by the Government of India, invested in the project under construction in Sankhuwasabha. India, which has entered Nepal through Arun 3, has recently been looking to expand investment in Nepal extensively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is showing interest in the construction of 3,000 megawatt capacity projects in the Arun river basin alone along with other three large projects in western Nepal as well. India also has a great interest in the Karnali river basin. However the private sector of India has not yet been able to advance any project in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">But after Prime Minister Pushpa Kamal Dahal's visit to India in May, India assured to buy 10,000 megawatts of electricity from Nepal in 10 years. The private sector of India is also now calculating profit and loss in hydropower generation in Nepal. Private sector promoters say that big Indian companies are looking for access to Nepal's electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower projects that India intends to develop</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is constructing Arun-3 of 900 MW in the Arun river basin in addition to signing of agreement to build the Lower Arun of 679 MW and Arun-4 of 490 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Sources at the Ministry of Energy say that they are also proposing to build the 1,061 MW Upper Arun and 756 MW Tamor reservoir projects by themselves. In this way, it seems that India is trying to advance projects with a capacity of 2,986 MW in the Arun river basin alone. Similarly, in western Nepal, India has already signed an agreement to produce 7,680 megawatts of electricity by undertaking the 6,480 megawatt Pancheswar (Nepal-India joint venture), 750 megawatt West Seti, and 450 megawatt Seti river-6 projects. An agreement has been reached for the construction of 900 MW Upper Karnali, 480 MW Fukot Karnali hydropower projects in the Karnali river basin, while attempts are being made to construct the 1,902 MW Mugu Karnali and 10,800 MW Karnali Chisapani projects with Indian investment.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18437', 'image' => '20230811105846_electricity.jpg', 'article_date' => '2023-08-11 10:57:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18707', 'article_category_id' => '1', 'title' => 'DoFE's Online Service Back in Operation', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kabiraj Uprety, the Department's Information Officer and Director, confirmed that the online service has been fully restored, making the issuance of work permits a more streamlined process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following the restoration of the FEIMS system, the Department has commenced the approval process for work permits. A notice has been issued to service recipients, informing them of the service's reinstatement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, individuals can now register their applications for labor permits online.</span></span></p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18436', 'image' => '20230811060633_collage (8).jpg', 'article_date' => '2023-08-11 06:04:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">August 13: The review meeting of the </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">th Nepal-India Line of Credit (LoC) project was held in Kathmandu on Thursday. The meeting reviewed the progress of the project in various stages of implementation. India has provided an amount equal to US$ </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"">.65 billion to Nepal under the LoC. The Government of Nepal has been investing this amount in priority projects for infrastructure development.</span></span></span></span></p> <p><span style="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 LoC has financed more than </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""> road projects related to hydropower and transmission lines and six projects of housing and reconstruction. Under the LoC project, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1,105</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> km of road construction has been completed.</span></span></span></span></p> <p><span style="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 expected that the transmission lines under the LOC projects including the </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""> KV Koshi Corridor, </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 Modi Lekhnath, </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 Solu Corridor 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 Dhalkebar-Bhithamod will greatly help in power supply. </span></span></span></span></p> <p><span style="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 India has also agreed to invest US$ </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">679.8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> million under LoC for the construction of Bheri Corridor, Nijgadh-Inaruwa, Gandak Nepalgunj transmission line and substations of these transmission 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"">Joint Secretary of the Indian Ministry of External Affairs (Development Partnership Administration) A Ajay Kumar led the team which included representatives from the Indian Embassy and Exim 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"">Similarly, Shri Krishna Nepal, joint secretary of the Ministry of Finance, led the delegation of Nepal during the meeting. Officials from various departments involved in the implementation of the LoC projects were also a part of the Nepalese delegation.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18451', 'image' => '20230813014333_1691887849.4 Meeting .jpg', 'article_date' => '2023-08-13 13:43:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18720', 'article_category_id' => '1', 'title' => 'Rescue Flights not Prohibited beyond 'Operation Hours' : CAAN ', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Civil Aviation Authority of Nepal (CAAN) has clarified that no flights meant for rescue operations have been prohibited in remote areas beyond the 'operation hours'. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The recent decision of the CAAN mandates airlines to conduct flights to remove areas only within the fixed time schedule. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The decision is said to be for mitigating the risk of air incidents during the monsoon season and to enhance flight safety. However, CAAN has been criticized for the move. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CAAN spokesperson Jagannath Niraula said that the restriction on flight beyond the operating hours is only applicable during the monsoon period and is not targeted at rescue flights. The prohibition is just for commercial flight in remote areas. The CAAN said typically the 'operation hours' for airports based in remote areas begin at 6:30 am and end at 12:30 in the afternoon. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18449', 'image' => '20230813124844_caan.jpg', 'article_date' => '2023-08-13 12:47:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18719', 'article_category_id' => '1', 'title' => 'Expansion of Bhaktapur-Nagarkot Road yet to Complete in a Decade', 'sub_title' => '', 'summary' => 'August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">August 13: Almost a decade into construction, the Bhaktapur-Nagarkot road has yet to be completed. The road has potholes everywhere and blacktopping work has been stalled in the area from the Kharipati barracks of the Nepalese Army to the front of the Changu Narayan Municipality office.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The road has cracks in many places posing a risk of landslide especially along the turn at the barracks. The road turns muddy during monsoon and dusty during the dry season affecting the people residing on the road sides. The solid water from the unmanaged drainage enters the houses on the roadsides. A person died in the course of the construction of the road in the Bastola settlement. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Project completion deadline extended for ninth time</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Started in June, 2014 with the target of completing the work within two years, the project deadline has been extended for the ninth time so far. According to the latest deadline extended on 19 July, 2023, the project should be completed by 14 January, 2024, said sub engineer Sumita Dhukuchhu of the Bhaktapur-Nagarkot Road Planning Office, who is assigned to test the quality of the road. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">“Work on around 500 meters of road remains to be completed. The construction company has pledged to repair the damaged road, and hand the project over after completion in two months,” she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Shailung Construction and Indian Aravali Infrapower Limited jointly won the contract to undertake the project at the initial cost of Rs 270 million provided by the Export-Import Bank of India (Exim Bank) as loans. But the project cost has now reached Rs 310 million including VAT, she said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Around five months ago, the Road Improvement and Development Project Directorate under the Ministry of Physical Infrastructure and Transport had issued a notice warning to terminate the contract within 14 days if the 15.6 km road is not completed within the deadline. During a monitoring on 2 March, 2023, then Deputy Prime Minister Narayan Kaji Shrestha had warned of canceling the contract if the construction company failed to complete the project within 13 April, 2023. On the occasion, Ambassador of India to Nepal Naveen Srivastava was also present.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Monitoring of the project</span></span></strong></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team of representatives of political parties and people's representatives led by Chief District Officer of Bhaktapur Khagendra Prasad Rijal, which recently monitored the road, concluded that the road construction is of poor quality.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">On 14 November, 2021, then Minister for Physical Infrastructure and Transport Renu Kumari Yadav had also monitored the project and warned of canceling the contract of the construction company if the project was not completed within two months.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">During the monitoring by the two ministers, the locals had urged them to take initiatives for completing the project soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Earlier on 29 July, 2019, the Development and Technology Committee under the House of Representatives during a monitoring had asked the contractor to blacktop the road for the Visit Nepal, 2020.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Similarly, on 20 November, 2019, a team led by joint secretary Yam Lal Bhusal inspected the road at the directive of then Prime Minister KP Sharma Oli. Also, various separate teams involving then Minister for Physical Planning Basanta Nembang, then minister and lawmaker Mahesh Basnet, then mayor of Changunarayan Municipality Som Prasad Mishra, the municipality mayor Jiban Khatri and deputy mayor Ramesh Budhathoki time and again inspected the project, and assured of the project completion soon.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A team led by then municipality mayor Mishra had a separate meeting with Prime Minister Pushpa Kamal Dahal, and then PMs Sher Bahadur Deuba and Oli demanding the completion of the road soon. "We met and submitted a memorandum to PMs and ministers demanding the road completion soon but to no avail. I feel the contractor is more powerful than the government," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Although the project nears completion, it requires repair before completion due to low quality work on blacktopping, said CDO Rijal. He said pressure would be put on the construction company to complete the project before the upcoming Dashain festival that is taking place in more than three months this year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">. Political leaders and local people including Rastriya Prajatantra Party central deputy general secretary Rabindra Pratap Shah and district chairperson of the Nepal Workers Peasants Party Nhuchhe Bhakta Phoju have demanded action against the construction company.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Ward-6 chair of the municipality demanded the completion of the project before the Nagarkot Road Festival that is taking place before Dashain.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">The project’s sub engineer Sadhana Tiwari has blamed the Nepalese Army for not allowing the construction of a drainage system which has caused the release of the water from the drainage at Ghumaune into the road. Similarly, the release of the wastewater from Shivashikhar cooperative, and from various factories in the area into the road has caused potholes while landslides at the U-turn caused by land plotting have halted the road construction from time to time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">A small drainage system built by the municipality along the feeder roads, and the deposition of river materials along the road damaged the road, she said, adding that there is also a risk of the water flowing into the road when the culverts are filled.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">Anup Adhikari, the project manager of Shailung Construction, said the project deadline was extended as per the Public Procurement Regulations (12th Amendment), and the project would be handed over after completion within two months. Electricity poles at the Nagarkot Bus Park should be moved, and for this, payments have been made to the Nepal Electricity Authority. Remaining construction work will be completed shortly after the poles are moved, he said. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18448', 'image' => '20230813114412_nagrkot-hiking.jpg', 'article_date' => '2023-08-13 11:43:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '18718', 'article_category_id' => '1', 'title' => 'Chances of Rainfall Across the Country until Monday', 'sub_title' => '', 'summary' => 'August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 13: The Meteorological Forecasting Division under the Department of Hydrology and Meteorology has forecast precipitation at many places of the country for the next two days, as the axis of the monsoon low pressure is situated towards the north (near Nepal) from its normal position. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The division said there is the possibility of the monsoon low pressure axis shifting more towards Nepal in the coming some days also due to the influence of the low pressure system developing in the north-west parts of Bihar and areas in India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather was generally to completely cloudy throughout the country last night as a result of this weather system with light to moderate rainfall at many places and heavy rain accompanied by thunder and lightning at a few places of Koshi, Madhes, Bagmati, Gandaki and Lumbini provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a special monsoon bulletin on Saturday, the division has called for adopting precaution in view of the risk of landslide and debris flow in the hill region of the country until Monday. It said there is also the risk of inundation in the urban areas due to the increase in water level in the big and small rivers and rivulets. The division also warned that adverse weather is likely to affect the daily life of people as well as road and air transport. The division has urged the general public and all the bodies concerned to adopt necessary alertness and preparedness to avoid any untoward incident. </span><br /> <strong><span style="font-family:"Arial Unicode MS","sans-serif"">Today’s weather</span></strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, the weather will be fully cloudy throughout the country on Sunday with chances of light to moderate rainfall at many places. There is possibility of heavy to torrential rainfall along with thunder and lightning at a few places of Koshi, Bagmati, Gandaki, Karnali and Sudurpaschim provinces and at one or two places of Madhes and Lumbini provinces on Sunday. </span></span><br /> <span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif""><strong>Weather on August 14 </strong> </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather will be generally to completely cloudy throughout the country on August 14, Monday, with chances of light to moderate rainfall at many places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces and at a few places of Koshi, Madhes and Bagmati provinces. There is also the possibility of heavy to torrential rainfall accompanied by thunder/lightning at a few places of Gandaki, Lumbini, Karnali and Sudurpaschim provinces. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather bulletin issued by the Division also stated that there are chances of heavy rainfall at one or two places of Koshi and Bagmati provinces on Monday. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => 'Nepal, rainfall, heavy, torrential, India, monsoon, pressure, system, forecast ', 'description' => '', 'sortorder' => '18447', 'image' => '20230813104409_rain.jpeg', 'article_date' => '2023-08-13 10:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18717', 'article_category_id' => '1', 'title' => 'NEA Organizes Electric Vehicle Rally to Promote Electricity Consumption', 'sub_title' => '', 'summary' => 'The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: The Nepal Electricity Authority (NEA) organised a rally of electric vehicles to encourage and promote the use of electric vehicles to increase the consumption of clean green energy produced within the country. The event took place on the 38th anniversary of the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The rally that began from the NEA headquarters at Ratnapark passed through Maitighar, New Baneshwor, Tinkune, Sinamangal, Airport, Gaushala, Chabahil, Maharajgunj, Lajimpat, Lainchaur and Durbar Marga before concluding at Ratnapark. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Inaugurating the event, Shakti Bahadur Basnet, the Minister for Energy, Water Resources, and Irrigation, highlighted the government's commitment to bolstering the use of domestically generated electricity and promoting the adoption of electric appliances and vehicles for a cleaner environment. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Emphasizing the significance of electric vehicles, Minister Basnet underscored their potential in reducing the nation's reliance on petroleum-based products.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has adopted a policy of purchasing only electric vehicles for urban areas, and converting fuel vehicles into electric ones. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NEA has constructed charging stations in various 51 places, and the construction process has initiated in 13 additional places, according to the NEA. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Similarly, plans for the construction of charging stations are underway in more than 100 places across the country, it has been informed. (RSS) </span></span></p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18446', 'image' => '20230813064712_collage (11).jpg', 'article_date' => '2023-08-13 06:45:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18716', 'article_category_id' => '1', 'title' => 'Over 200 Industries Shut Down in Rupandehi in Fiscal Year 2079/80 BS', 'sub_title' => '', 'summary' => 'More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 13: More than 200 industries were forced to close their operations in Rupandehi in the fiscal year 2079/80 BS. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Office of Cottage and Small Industries, Bhairahawa, reported that a total of 217 industries ceased operations, encompassing 84 production-oriented, 19 related to agriculture and forest, 63 engaged in service-oriented activities, and 51 involved in tourism-related ventures.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The closure of these industries was attributed to a range of factors, including frequent power outages, economic challenges, and high interest rates imposed by banks. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A significant number of the closed industries were concentrated in Tilottama Municipality, Siddharthangar Municipality, and Butwal Sub-Metropolis.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Madhav Poudel, the President of Rupandehi Chamber of Commerce and Industry, highlighted the alarming situation faced by industrialists within the district. He pointed out that the closure of over 200 industries in a single year underscores the challenges experienced by the local industrial community. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Poudel attributed the downfall of small industries to a confluence of factors, such as the COVID-19 pandemic, hefty loan interest rates, and policy-related hindrances in trade.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Ujjwal Kasaju, the President of Butwal Chamber of Commerce and Industry and a Central Committee member of the Federation of Nepalese Chambers of Commerce and Industries, provided further insight into the matter. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kasaju expressed that high interest rates on bank loans, difficulties in finding markets, and the incomplete functionality of the airport were among the key contributors to the industrial shutdown.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In light of these challenges, some larger-scale industries managed to stay afloat by reducing their production capacity to between 25% and 40% of their usual output.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to Netra Prasad Bhusal, the Information Officer at the Office of Cottage and Small Industries in Bhairahawa, the district had a total of approximately 1,030 registered cottage industries. (RSS)</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-13', 'modified' => '2023-08-13', 'keywords' => '', 'description' => '', 'sortorder' => '18445', 'image' => '20230813062239_collage (9).jpg', 'article_date' => '2023-08-13 06:20:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18715', 'article_category_id' => '1', 'title' => 'Paragliding Begins in Sindhuli ', 'sub_title' => '', 'summary' => 'August 11: Paragliding has begun in commercial scale in Sindhuli district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 11: Paragliding has begun in commercial scale in Sindhuli district. It is a first of its kind service in the district. The adventure sport was launched on August 7 while its successful test was conducted on April 25 early this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The service based near Kamalamai Municipality-6 was started at a cost of Rs two million, according to proprietor Netra Jung Thapa. Thapa’s company has been licensed to operate up to five paragliding flights simultaneously and the fee for per person flight is Rs 6,500. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The locals are however entitled to get a discount of Rs 1,000 for a month. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The sport that falls into the category of adventure tourism is expected to contribute to promotion of tourism in the district. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18444', 'image' => '20230811080849_20220821100035_para.jpg', 'article_date' => '2023-08-11 20:08:18', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18714', 'article_category_id' => '1', 'title' => 'Nepali Students Struggling to get TU Equivalence of Foreign Degrees Resulting in Brain Drain ', 'sub_title' => '', 'summary' => 'August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">August 11: Nepali students who have completed their schooling or higher education from foreign boards and universities are facing difficulties in obtaining equivalence certificates from Tribhuvan University. This is likely to result in a brain drain to foreign countries, warned experts.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Students who are struggling to acquire equivalence certificates have accused Tribhuvan University (TU) of being apathetic towards the issue. For instance, over 100 Nepali students who have completed their higher education in India are yet to receive TU recognition for their degrees. This situation has prompted some of them to leave for foreign countries, according to the affected students.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr Sharad Chand from Kanchanpur district, who completed his Ph.D. in Pharmacy from Rajiv Gandhi University of Health Sciences, India, said that they had to endure significant challenges to obtain equivalence certificates from TU. Sharing his personal experience, he said that he had to visit TU almost 60 times over six months to secure recognition from TU. He explained that a Doctor in Pharmacy (Pharma D) is a six-year professional doctoral degree in the Pharmacy stream certified by the Pharmacy Council of India.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">This situation has not only fostered negativity about TU among students who possess internationally recognized degrees, but has also left them disappointed, he added.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">"When I initially requested an equivalence certificate, TU provided me with the designation 'Doctor of Pharmacy equivalent to the Pharma D.' However, this equivalence was later revoked through a notice published in Gorkhapatra Daily. When a final decision was reached to pursue a Ph.D. based on the equivalence, it was not considered to be of the master’s level. Following the realization that I did not fulfill the required process for admission, I am still awaiting the equivalence certificate necessary for Ph.D. admission," he explained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He elaborated that he had submitted all the required academic and other documents to the TU Curriculum Development Centre. Based on the recommendation of the university where he had enrolled and the Pharmacy Council of India, the Center issued him an equivalence certificate for Pharma D and advised him to apply for a Ph.D. equivalence as well. However, a few days later, a notice was published in Gorkhapatra, stating that errors were present in the equivalence certificate provided to him.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The distinction between integrated and dual degrees is clarified in Clause 13 of Section 5 of the Degree Recognition and Equivalence Determination Procedure, 2078.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">According to the Procedure, if Nepali citizens obtain high school, bachelor’s, master’s, and doctoral degrees from foreign universities and apply for TU equivalence certificates within the standards of curricula, credit hours, and examination systems prescribed by the relevant educational institution, the equivalence certificates can be granted through a proper process. Similarly, the Procedure specifies that individuals seeking equivalence or recognition of dual degrees with additional credits at any level will be granted equivalence or recognition based on their credits meeting the established criteria.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Despite fulfilling all the established criteria, the Center has declined to issue equivalence certificates, Dr. Chand complained.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">As a result of the challenges in obtaining TU equivalence certificates, many qualified technicians are compelled to seek opportunities abroad, stated Kul Bahadur Rawal of Tatopani Rural Municipality in Jumla district. Rawal, who completed a Doctor of Pharmacy from Rajiv Gandhi University of Health Sciences, India, expressed concern that although TU equates Pharma D to a Master's degree, it has not definitively stated whether Pharma D qualifies as a postgraduate (PG) degree. He emphasized that India clearly designates Pharma D as a Master's degree. Rawal accused TU of complicating matters for students seeking equivalence certificates by displaying a dual character.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He further alleged that TU employees engage in misconduct when dealing with students who visit the university for equivalence certificates.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The affected students have raised questions about how long they will have to endure losses while seeking equivalence for their degrees. They have been fighting for the past nine years, asserting that their stance is valid in terms of credit hours. They claim that TU employees fail to provide clear responses about whether the submitted documents suffice.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Considering that other universities like Pokhara and Kathmandu lack the authority to grant equivalence certificates, students are demanding the end of TU's monopoly in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Dr. Rawal emphasized that due to the lack of specification that Pharma D is a postgraduate degree, it is becoming problematic to apply for master’s level programs or jobs. While India explicitly defines Pharma D as a postgraduate degree, TU does not. He raised the question of who will issue equivalence certificates for their graduate and postgraduate degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Aastha Dahal, a PhD graduate from Cambridge University in the United Kingdom, expressed her frustration with TU's apparent indifference towards granting equivalence for foreign degrees. She posed questions about potential differences between postgraduate and master's degrees in Nepal's education policy. She also questioned TU's hesitance to grant equivalence for higher education degrees earned from prestigious foreign universities and raised concerns about political influences in the process. She deemed TU's reluctance concerning and shared her two-year struggle to gain TU recognition for her foreign degrees.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">However, Prof. Dr. Parasnath Yadav, the Executive Director of the Center, denied the allegations. He stated that equivalence certificates are issued according to the criteria outlined in the Procedure only when all necessary documents are submitted. He clarified that factors such as entrance requirements, course contents, credit hours, and duration are taken into account. Equivalence certificates are granted after receiving input from the Office of the Dean and confirmation. Yadav emphasized that TU grants equivalence when 75 percent of the subject matter, credit hours, and duration are met.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">He explained that efforts are underway to digitize the service. He clarified, "We grant equivalence when the required credit hours are met (100 credit hours for bachelor’s, 60 for master’s, and 60 for Ph.D. degrees). Not all fields taught in universities worldwide are available at TU. Programs such as Physiotherapy and Pharma D are not offered here. Pharma D refers to pharmacy, and we have issued equivalence for the Pharma D degree. We have become more flexible in granting equivalence for academic subjects."</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Recently, Sumana Shrestha, a member of the House of Representatives from the Rastriya Swatantra Party, brought attention to students' complaints about difficulties in obtaining equivalence certificates for their international degrees. She also mentioned mistreatment by TU employees in the process. She urged that TU be kept free from politics and that the Vice Chancellor be appointed based on merit with executive powers. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18443', 'image' => '20230811073749_307329410_410130534604790_8271674801048263021_n.jpg', 'article_date' => '2023-08-11 19:22:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18713', 'article_category_id' => '1', 'title' => 'SEBON Grants Brokerage Licenses to Three More Companies', 'sub_title' => '', 'summary' => 'The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Securities Board of Nepal(SEBON) has granted broker licenses to three new companies. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">SEBON made the decision to grant licenses to J.B.N.L Securities Limited, RBB Securities Company Limited, and C.B.I.L Securities Limited. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The three new companies have been issued licenses to operate as limited stock brokerage companies, according to Mukti Shrestha, the spokesperson for the Securities Board of Nepal (SEBON). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The SEBON has granted new broker licenses to these 32 companies in various phases so far. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the first phase, seven companies received licenses, followed by 11 in the second phase, 11 in the third phase, and three companies in the fourth phase.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Out of the 32 newly-licensed brokerage companies, seventeen have received membership of the Nepal Stock Exchange(NEPSE). Seven companies that received the licenses in the first phase form the SEBON have started trading in the secondary market. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Eleven companies that have obtained letters of intent are awaiting licenses. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These companies will undergo evaluation and inspection by the board and will be issued licenses if they meet the set criteria, said Mukti Shrestha, the spokesperson at the SEBON.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18442', 'image' => '20230811045700_collage (7).jpg', 'article_date' => '2023-08-11 16:54:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 9 => array( 'Article' => array( 'id' => '18712', 'article_category_id' => '1', 'title' => 'Return on Equity of Commercial Banks Declining', 'sub_title' => '', 'summary' => 'August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.', '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"">August 11: As the commercial banks are not able to expand credit investment according to the increase in capital, the return on equity (ROE) of the banks has been decreasing.</span></span></span></span></p> <p><span style="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 capital of the banks has increased a lot due to mergers and acquisitions and distribution of bonus shares. Despite increasing the capital, they have not been able to invest the capital proportionately. Because of this, the return of investment of stock investors has decreased. Analysts say that the decrease in return on equity means that the return of shareholders who have invested in banks and financial institutions has decreased.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Return on equity (ROE) is given great importance by most of the value investors including Warren Buffett. ROE informs about the rate at which investors can get returns from stock market investments. Value investors analyze ROE to see if a company is consistently outperforming other companies in the same sector.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Equity is obtained by subtracting external liabilities (claims other than shareholders) from the total assets. Mathematically, ROE is obtained by dividing the net profit by total equity. The longer the company is giving good return on equity, the better it should be considered for investment. ROE is a measure of a company's ability to make a profit and how effectively it generates profit. Companies with high ROE are considered good for investment. When comparing ROE, it should be compared between companies in the same sector. Generally, a company with this index of </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15-20</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent is considered good.</span></span></span></span></p> <p><span style="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 financial statements of the fourth quarter of banks for the last fiscal year, the ROE of </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""> commercial banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">10.76</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on average. In the previous year, the ROE of these banks was </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">11.05</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Compared to the previous year, the ROE of some banks has increased, while the ROE of most of the banks has decreased. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Among the </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"">commercial banks, Standard Chartered Bank had the highest ROE at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">17.47</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent in the last fiscal year. Similarly, NIC Asia Bank was in the second place with </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">15.69</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent ROE. The lowest ROE among these banks was of Kumari Bank as </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5.31</span></span> <span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">percent. The ROE of </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""> banks was higher than the average, while the ROE of </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"">banks was lower than the average.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Investors’ attraction in this sector is declining in recent days due to the decreasing returns of commercial banks. Investors are less attracted to banks as the returns on investments in other sectors are higher than in banks.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18441', 'image' => '20230811045605_bankkkkkkk.jpg', 'article_date' => '2023-08-11 16:55:25', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18711', 'article_category_id' => '1', 'title' => 'Government Starts Homework to Improve Taxation System', 'sub_title' => '', 'summary' => 'August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">August 11: In order to improve the taxation system, the government started its homework to implement the tax-related programs announced in the budget for the current fiscal year (FY 2023/24).</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Finance Minister Dr Prakash Sharan Mahat had announced while unveiling the budget on May 29 that the tax payers should pay taxes every month and the details should be submitted quarterly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The Inland Revenue Department (IRD) under the Ministry of Finance has already started homework to implement this arrangement. Officials of the department say that homework has been started to develop the currently operating online system in accordance with the budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to the Director of IRD, Raju Prasad Pyakurel, the current online system is not developed in such a way that the records can be maintained on a quarterly basis. For this, the core team of the department is making necessary arrangements.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Taxpayers who are registered for value added tax and have annual turnover of up to Rs 10 million are currently required to submit their tax returns and their details every month. After the system upgrade, taxpayers will be able to submit tax returns and tax statements every 4 months. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Likewise, homework is being done to form a high-level committee for reforming the existing tax system. Department sources said that a high-level committee will be formed within the next week and will start work immediately. The department is also going to advance the work of interconnection and automation of the institutional information systems by integrating the financial transaction information.</span> </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The budget for this FY has stated that the government will strengthen the information system and set the minimum limit of the transaction amount according to the nature of the transaction. Similarly, it was announced that tax payers who transact more than Rs 250 million per year will be included in the central invoice monitoring system in order to compulsorily issue invoices through the electronic system. Officials of the department say that they are making necessary preparations to implement it.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => 'tax, system, budget, Nepal, government, improvement, quarterly, four, months', 'description' => '', 'sortorder' => '18440', 'image' => '20230811041348_20200911125203_1599773733.Clipboard04.jpg', 'article_date' => '2023-08-11 16:08:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18710', 'article_category_id' => '1', 'title' => '48 Internet Service Providers Fail to Pay Royalties', 'sub_title' => '', 'summary' => 'August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and tax for the Rural Telecommunication Development Fund.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 11: The Nepal Telecommunication Authority, the regulatory body of the telecommunication sector, has published a list of 48 internet service providers (ISPs) for not paying the royalty amount and taxes under the heading of the Rural Telecommunication Development Fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The authority has issued a notification and asked the ISPs to submit the outstanding amount to be paid to the government by the mid-August in a designated bank account with fines. The ISPs have been instructed to clearly disclose their name and fiscal year for which the amount has been paid.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, if the amount is not paid even within the specified period, action will be taken as per the rules.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the authority, big internet companies including Subisu, Classic Tech, Mercantile have not paid the royalty amount and Rural Telecommunication Development Fund taxes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Telecommunications Act, 2053, the service providers licensed by the authority must deposit 4 percent of the total income as royalty and 2 percent of the total income under the Rural Telecommunication Development Fund every year. The NTA uses the amount deposited in the fund for the development, extension and operation of telecommunication services in the rural area as per the policy of government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is stated in the notice issued by the authority that despite repeated requests, the Internet service providers did not submit the amount.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report published by the authority in December, 77 internet service providers had deposited more than Rs 1.67 billion. There are currently 128 internet service provider companies and 23 network service provider companies registered in Nepal.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18439', 'image' => '20230811012501_20230411103022_Internett.jpg', 'article_date' => '2023-08-11 13:22:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18709', 'article_category_id' => '1', 'title' => 'Export of Pashmina Items Increased by 15 Percent Last Year', 'sub_title' => '', 'summary' => 'August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).', '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:"Nirmala UI","sans-serif"">August 11: Nepal exported pashmina items worth Rs 3 billion in the last fiscal year (FY 2022/23).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Department of Customs, Nepal exported pashmina worth Rs 3.24 billion last year. This amount is 15 percent more than the previous year. In the previous year, Nepal earned foreign currencies worth Rs 2.82 billion from pashmina exports.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The income from pashmina exports has been increasing since the last four 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:"Nirmala UI","sans-serif"">If we look at the data of the Department of Customs, the volume of export of pashmina items has been increasing since </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2019/20</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">. </span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina goods worth more than Rs 2.26 billion were exported in that year. In </span></span><span style="font-size:13.5pt"><span style="font-family:"Arial","sans-serif"">FY 2020/21</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">, the export of pashmina increased to more than Rs 2.7 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:"Nirmala UI","sans-serif"">Businessmen are excited due to the increase in export of pashmina.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">They claim that its export amount will increase further in the coming days.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pashmina was ranked 12th in terms of export earnings last year. Businessmen say it production and export of pashmina is important to reduce the country's trade deficit.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">President of Nepal Pashmina Industry Association Vijay Kumar Dugad says that there has been a lot of improvement in the pashmina industry after the Covid-19. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, the trade of Nepali pashmina has improved not only in foreign countries but also within 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:"Nirmala UI","sans-serif"">"After the Covid-19, the business of pashmina has increased in Thamel, Patan, Pokhara and other areas with the increase in the number of tourists visiting Nepal," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">He says that Nepal's exports have also improved. In previous years, only pashmina shawls and scarves were exported from Nepal. However, now the pattern of export has changed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">There is a good demand for shawls, scarves, knitted sweaters, socks, blouses, in the international market, he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to Dugad, Nepali pashmina is mostly exported to countries like America, Japan and European countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government has introduced the 'Pashmina Export National Strategy' with the goal of increasing the export of pashmina to US dollars 75 million (more than Rs 9.96 billion based on the latest US dollar exchange rate) by 2026. As part of this strategy, the government has operated wool collection centers in Mustang, Manang, Dolpa and other districts to increase pashmina yarn production in Nepal.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Dugad informed that the farmers there have also been trained in extracting wool from chyangra, a kind of Himalayan sheep found in high altitude areas. According to him, 800 wool samples from 4 villages of Mustang have been sent to Mongolia to test the advanced breeds of sheep in Nepal. Nepal is now importing raw materials of pashmina from Mongolia, China and other countries.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“The government has already started a lot of work under the Pashmina Export National Strategy. This is the reason why the export has improved. It seems that exports will increase in the coming days as well," said Dugad. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to him, there are about 15,000 industries related to pashmina across the country. He claims that nearly 50,000 people are directly employed in these industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18438', 'image' => '20230811120939_100_percent_1.jpg', 'article_date' => '2023-08-11 12:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18708', 'article_category_id' => '1', 'title' => 'Nepal makes Giant Stride in Electricity Generation in the Last Ten Years', 'sub_title' => '', 'summary' => 'August 11: Nepal has achieved great progress in the electricity sector in the last 10 years.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">August 11: Nepal has achieved great progress in the electricity sector in the last 10 years. Until 10 years ago, there used to be terrible load shedding while the power generation capacity was not even 1000 MW, and no electrification was available except in cities and market areas in Nepal. However, the situation has changed a lot now.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">The installed capacity of electricity produced in Nepal has reached around 3,000 megawatts. About 1,000 megawatts of electricity is produced by the Electricity Authority and its subsidiary companies, while almost 2,000 megawatts of electricity is produced by the private sector including projects that started trial production but have not started commercial production yet. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Nepal is also earning foreign currency by exporting up to 500 megawatts of electricity during the rainy season. However, in winter, Nepal will have to continue importing electricity for a few more years.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to various studies, Nepal's power generation capacity is more than 200,000 megawatts. According to Prakash Dulal, Deputy Secretary General of the Independent Power Producers Association of Nepal (IPPAN), the financially feasible production capacity is 72,500 MW. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to this calculation, Nepal is currently producing only 4 percent of its capacity. Nepal has a potential to produce about 30,000 megawatts of solar power but has not yet produced even 100 megawatts. Solar energy is considered very important for energy mix.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">According to the data presented by IPPAN in various forums, hydroelectricity projects with capacity of 4,500 megawatts are currently under construction in Nepal with investments from the government, private sector and foreign investors.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Similarly, projects with capacity of around 10,000 megawatts are in a position to go into construction immediately if the investment and market is ensured. In addition to this, projects with capacity of 12,000 megawatts are awaiting power purchase and sale agreements, while projects of the same capacity are under study, says Deputy Secretary General Dulal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Assuming an average cost of Rs 20 million per megawatt, it seems that an investment of Rs 60 billion is required to generate 30,000 megawatts of electricity in 10 years. A study conducted by the Nepal Electricity Authority shows that an additional investment of around Rs 8 billion to Rs 10 billion is required for the construction of transmission lines.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Indian investment in Nepal's hydropower</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India has started investing in Nepal's hydropower sector including the 900 MW Arun 3. Sutlej Jalvidyut Nigam, which is owned by the Government of India, invested in the project under construction in Sankhuwasabha. India, which has entered Nepal through Arun 3, has recently been looking to expand investment in Nepal extensively.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is showing interest in the construction of 3,000 megawatt capacity projects in the Arun river basin alone along with other three large projects in western Nepal as well. India also has a great interest in the Karnali river basin. However the private sector of India has not yet been able to advance any project in Nepal.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">But after Prime Minister Pushpa Kamal Dahal's visit to India in May, India assured to buy 10,000 megawatts of electricity from Nepal in 10 years. The private sector of India is also now calculating profit and loss in hydropower generation in Nepal. Private sector promoters say that big Indian companies are looking for access to Nepal's electricity.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Hydropower projects that India intends to develop</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">India is constructing Arun-3 of 900 MW in the Arun river basin in addition to signing of agreement to build the Lower Arun of 679 MW and Arun-4 of 490 MW.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt"><span style="font-family:"Times New Roman","serif"">Sources at the Ministry of Energy say that they are also proposing to build the 1,061 MW Upper Arun and 756 MW Tamor reservoir projects by themselves. In this way, it seems that India is trying to advance projects with a capacity of 2,986 MW in the Arun river basin alone. Similarly, in western Nepal, India has already signed an agreement to produce 7,680 megawatts of electricity by undertaking the 6,480 megawatt Pancheswar (Nepal-India joint venture), 750 megawatt West Seti, and 450 megawatt Seti river-6 projects. An agreement has been reached for the construction of 900 MW Upper Karnali, 480 MW Fukot Karnali hydropower projects in the Karnali river basin, while attempts are being made to construct the 1,902 MW Mugu Karnali and 10,800 MW Karnali Chisapani projects with Indian investment.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18437', 'image' => '20230811105846_electricity.jpg', 'article_date' => '2023-08-11 10:57:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18707', 'article_category_id' => '1', 'title' => 'DoFE's Online Service Back in Operation', 'sub_title' => '', 'summary' => 'The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">August 11: The Department of Foreign Employment (DoFE) has restored its online service, which has come into operation from Thursday. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The service had been temporarily disrupted since Tuesday due to the migration of the file server for the FEIMS system.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Kabiraj Uprety, the Department's Information Officer and Director, confirmed that the online service has been fully restored, making the issuance of work permits a more streamlined process.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Following the restoration of the FEIMS system, the Department has commenced the approval process for work permits. A notice has been issued to service recipients, informing them of the service's reinstatement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Consequently, individuals can now register their applications for labor permits online.</span></span></p> ', 'published' => true, 'created' => '2023-08-11', 'modified' => '2023-08-11', 'keywords' => '', 'description' => '', 'sortorder' => '18436', 'image' => '20230811060633_collage (8).jpg', 'article_date' => '2023-08-11 06:04:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
