August 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July.…
August 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July.…
August 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial…
Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. While prices of petrol and diesel have increased, NOC has slashed the price of LP gas…
August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export…
Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in…
Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy…
The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur…
August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on…
August 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade…
August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic…
August 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the…
August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic…
August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of…
August 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok…
August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control…
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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 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July. The number of tourists visiting Nepal has been increasing with the decline in coronavirus infection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Tourism Board (NTB), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">357</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived here from India, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">693</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from China and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">561</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from America in July. </span></span></span></span></p> <p><span style="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 number of tourists visiting Nepal in July this year is more than the number of visitors in the corresponding month of last year. In July last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">462</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists had arrived in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the number of tourists coming to Nepal from SAARC countries is more than that from other countries. In July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">714</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived in Nepal from SAARC countries including India, Bangladesh, Sri Lanka, Pakistan and Bhutan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total 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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">183 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists visited Nepal from Asia including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">965 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from European countries including France, Denmark, Germany, and the UK.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists arrived here from the Americas, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">213 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Oceania and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">373 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Central Asia. Apart from these, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from other countries also visited Nepal in the review month, according to the data provided by the board.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> ।</span></span></span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18355', 'image' => '20230802110214_Tourist.jpg', 'article_date' => '2023-08-02 11:01:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18625', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Assistance from IFC for Infrastructure Development ', 'sub_title' => '', 'summary' => 'August 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. ', '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 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. </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 FNCCI stated that the support and cooperation from the IFC was necessary to promote small and medium-scale industries in Nepal, to promote infrastructure development and to see the improved investment status. </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 a meeting with Susan M Lund, IFC vice president for Economics and Private Sector Development, FNCCI President Chandra Prasad Dhakal urged for the assistance from the IFC to promote the economic environment in the country. </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"">"Nepal is currently grappling with economic issues primarily due to challenges in managing the post-COVID-19 situation. The government and the mass as well have been affected by the economic slowdown, particularly the private sector," 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"">The government's revenue decreased by around 13 percent and people's purchasing power has declined due to increasing inflation, he added. </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"">In response, the IFC Vice President said they were ready to cooperate with the FNCCI for the promotion of the private sector. </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"">As the IFC, World Bank Group claims, it is the largest global development institution focused on the private sector in developing countries. </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 FNCCI with the collaboration of the Corporation had organized a report on the contribution of the private sector in the economy and a conference of small and middle-scale entrepreneurs.</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 the occasion, Senior Vice-President of FNCCI, Anjan Shrestha, pointed out the need of making the market dynamic as most of the industries are in operation at low capacity. </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, Vice-Presidents—Hemraj Dhakal and Jyotsana Shrestha shared that improvement in the tax system was necessary for Nepal.</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"">President of the Investment and International Affairs Forum of FNCCI, Manoj Poudel, stressed on policy-level reforms for investment expansion, according to FNCCI. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> <br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18354', 'image' => '20230802103428_1690948464.ifccccccccccccc.jpg', 'article_date' => '2023-08-02 10:33:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18624', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 2: Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The state-owned Nepal Oil Corporation (NOC) has implemented these changes, which came into effect from 12:00 midnight on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NOC has increased petrol prices by Rs 9 per liter and prices of kerosene and diesel by Rs 7 per liter. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Following the price adjustment, a liter of petrol costs Rs 170 in Group A, Rs 172 in Group B, Rs 173 in Group C. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, diesel and kerosene prices will stand at Rs 150 per liter in Group A, Rs 152 per liter in Group B, and Rs 153 per liter in Group C.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">However, the cost of LP gas cylinders has decreased, with a reduction of Rs 130 per cylinder. Consequently, the price for an LP gas cylinder will now stand at Rs 1,660.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18353', 'image' => '20230802060357_collage (5).jpg', 'article_date' => '2023-08-02 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18623', 'article_category_id' => '1', 'title' => 'Nepal’s Exports Declined by over 21 Percent in FY 2022-23 ', 'sub_title' => '', 'summary' => 'August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the fiscal year 2022-23, Nepal's exports rate saw a decline of 21.4 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry of Industry, Commerce and Supplies, Nepal's total commodity exports amounted to Rs 157 billion during the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a meeting of the Industry, Commerce and Labour and Consumers' Welfare Committee under the House of Representatives on Tuesday, commerce and supplies secretary Madhu Kumar Marasini said there was also a 16.1 percent drop in total imports last fiscal year. Nepal imported commodities worth Rs 1,611 billion in the review year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's total foreign trade also witnessed a fall last year. The country recorded foreign trade equivalent to Rs 1,786 billion which is less by 16.6 percent compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The assessment of primary data of the last fiscal year shows that the contribution of exports to the total trade is 8.9 percent followed by 91 percent imports. </span></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"">In the fiscal year 2021-22, the export-import ratio was 1: 9.6 and it reached 1:10 last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18352', 'image' => '20230801081652_20180205113518_Clipboard46.jpg', 'article_date' => '2023-08-01 20:16:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18622', 'article_category_id' => '1', 'title' => 'InDrive Founder Tomsky Releases his Book "inDriver: from Siberia to Silicon Valley" in Nepali', 'sub_title' => '', 'summary' => 'Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">August 1: Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The book unveiling took place at the Kathmandu Marriott on Tuesday, where Tomsky presented the translated version of his book in the native language.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During the event, Tomsky expressed his excitement about the book now being available in three languages: English, Portuguese, and Nepali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky said that his goal is to reach a diverse audience worldwide, enabling them to comprehend his remarkable journey and growth of inDrive from its inception to expanding operations across 45 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Addressing the gathering, Tomsky revealed the motivation behind penning down his experiences. “I aim to inspire youths globally by sharing my real-life experiences through the pages of "inDriver: from Siberia to Silicon Valley”, said Tomsky. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">"I decided to have the book translated into Nepali to motivate young minds in Nepal, particularly those in the tech sphere, to venture into entrepreneurship. I firmly believe that resources are ubiquitous, and as a tech student, I kickstarted the inDrive platform with whatever resources were at my disposal," Tomsky emphasized.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky also expressed his deep attachment to developing nations, their ambitious youth, and the transformative power of technology. He believes in harnessing technology to drive positive change and uplift communities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">inDrive made informal inroads into Nepal last year, capturing the hearts of Nepali youth with its user-friendly and reliable services. The mobility company now operates in 45 countries and is in the process of formalizing its operations in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Globally, inDrive stands as the second-largest mobility company after Uber. Yet, Tomsky envisions even greater accomplishments in the future. His ambitious dream includes establishing a university by 2040, symbolizing the organization's commitment to knowledge, innovation, and education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">It all began in 2012 when Tomsky founded inDrive in his hometown, Siberia. Since then, his determination and vision have steered the company towards global success.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18351', 'image' => '20230801070947_collage (6).jpg', 'article_date' => '2023-08-01 19:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18621', 'article_category_id' => '1', 'title' => 'Pharping Hydropower Station to Be Developed as Energy Museum', 'sub_title' => '', 'summary' => 'Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The NEA has been preparing the master plan by appointing NEA Engineering Company as the consultant in order to develop the station as the tourism site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The old structures would be renovated and new structures constructed at unoccupied land linking the historic hydropower station with tourism, according to the NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Different structures including a park, a restaurant, shops, zipline, picnic spot, library and children's park would be constructed at the land of Station's reservoir and powerhouse area located at Dakshinkali municipality of Kathmandu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A plan has been set to develop the structures of the hydropower station as the museum by carrying out renovation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">It is estimated that it would take around one billion rupees for the implementation of the master plan prepared by the consultant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The station has 324 ropanis of land under its ownership. Forty-six ropanis of land of reservoir area and around 146 ropanis of land of powerhouse area would be used for the construction of tourism structures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, who arrived in Pharping to participate in sapling plantation programme organised on Monday at the premises of Pharping Hydropower Station on the occasion of the 38th anniversary of NEA, was briefed about the master plan.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet, Energy Secretary Dinesh Kumar Ghimire, NEA Managing Director Kul Man Ghising, among others observed the condition of different structures including the powerhouse. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18350', 'image' => '20230801061252_collage (5).jpg', 'article_date' => '2023-08-01 18:11:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18620', 'article_category_id' => '1', 'title' => 'World Bank Reaffirms Commitment to Support Nepal's Health System', 'sub_title' => '', 'summary' => 'The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">During the meeting, Minister Basnet praised the World Bank for its cooperation in various sectors of Nepal and requested further financial and technical assistance in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Country Director Zervos informed that the World Bank has been consistently providing support for Nepal's health sector. The bank has planned to offer a loan assistance of 100 million USD and a grant aid of 3.84 million USD for the health sector over the next five years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The approval process for this assistance is currently underway with the Council of Ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Zervos expressed the World Bank's happiness in collaborating to improve Nepal's health system, and he pledged to continue supporting Nepal during other epidemics, similar to the assistance provided during the COVID-19 pandemic. The World Bank had extended support during the pandemic by providing vaccines as grants.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet shared that a portion of the money received from the World Bank during the COVID-19 pandemic was saved, and the Ministry has initiated the necessary steps to spend the remaining amount on its own. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The surplus amount, initially sent to the Finance Ministry, will now be redirected back to the Ministry of Health for addressing potential disease outbreaks like dengue and funding other sectors. Approximately Rs 1 billion was saved from the World Bank's assistance during the COVID-19 pandemic. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18349', 'image' => '20230801050106_collage (4).jpg', 'article_date' => '2023-08-01 16:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18619', 'article_category_id' => '1', 'title' => 'TEAM Ventures Concludes Partial Exit from Foodmandu with 2x Returns', 'sub_title' => '', 'summary' => 'August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, TEAM Ventures said that the partial exit from Foodmandu resulted in two fold returns for the firm in a short time span of two years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">TEAM Ventures claimed that the firm’s strategic investment facilitated Foodmandu’s exponential expansion of its customer and restaurant base as well as geographic expansion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Foodmandu, Nepal’s largest food delivery company established in 2010, received Aeries A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020, added the statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In 2023, Dolma Impact Fund II further invested US$ 4 million in Series C funding, the firm said in the statement.</span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18348', 'image' => '20230801033606_IMG-20230731-WA0001.jpg', 'article_date' => '2023-08-01 15:35:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18618', 'article_category_id' => '1', 'title' => 'Investment in Tile Industry Increasing', 'sub_title' => '', 'summary' => 'August 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.', '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 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The businessmen who have been working in this field say that the use and demand of tiles is increasing both for residential and official buildings.</span></span></span></span></p> <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 data of the Department of Customs, Nepal imported tiles worth more than Rs 10 billion in the fiscal year (FY) 2078/79. </span></span></span></span></p> <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, a large amount of ceramic tiles are imported from India and China. Tiles are also imported from Indonesia, Malaysia, Vietnam, Bangladesh, Spain and other countries. The data indicates good prospects for the future of the tile industry in the country.</span></span></span></span></p> <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"">Based on this assessment, businessmen have started investing in such industries. Some of the industries are operational and some are under construction. According to the Department of Industry, the process of registration of new tiles industry is also underway.</span></span></span></span></p> <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 tiles industry of Prime Ceramics Pvt Ltd has come into operation recently. The company has been producing and selling tiles from a factory spread over an area of 10 bighas of land located in Brindavan Municipality-6 of Rautahat for about one month.</span></span></span></span></p> <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 company, the latest Italian technology has been installed in the factory. It is fully automatic. The company has invested Rs 25 million just for land. The company says that it has invested Rs 2 billion in total for land purchased and equipment. </span></span></span></span></p> <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 industry has given employment opportunities for the local residents as well as workers from neighboring districts and neighboring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pradeep Kumar Jha, the general manager of the company, said that although the target of the industry is to produce tiles of 11 different sizes, they are currently producing 5 different sizes of tiles.</span></span></span></span></p> <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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The production capacity is 150,000 square feet of tiles per day," Jha said. "The industry will run in full capacity within the next six months, which will create more jobs." </span></span></span></span></p> <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 industry has given employment to 300 people. Jha said that customers in Nepal can avail domestically produced tiles at 20 to 25 percent cheaper than the tiles coming from the international market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The industry is currently sending three truckloads of tiles to the market daily. According to Jha, 45 percent of the production goes to Kathmandu. Jha says that Kathmandu Valley is the main market at present. The rest of the production is being sent to other cities in the country.</span></span></span></span></p> <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 industry, which is thinking of exporting its product to India as well, has filed an application with the Department of Mines and Geology seeking for permission to use the red clay as a raw material. According to Jha, the industry is using most of the raw materials from 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"">The industry is producing tiles in two dozen colors. General Manager Jha also claimed that their products are of high quality and have the ability to compete with international brands.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18347', 'image' => '20230801032047_1690858902.2023-08-01 08.46.31.jpg', 'article_date' => '2023-08-01 15:20:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18617', 'article_category_id' => '1', 'title' => '‘Govt-Private Sector Collaboration a Must for Self-Reliant Economy’', 'sub_title' => '', 'summary' => 'August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Releasing a book entitled 'Self Reliant Economy and Export Potential' during a programme organized jointly by the Confederation of Bank and Financial Institutions of Nepal (CBFIN), and Federation of Nepal Exports' Association on Monday, Chief Secretary Aryal said promotion of exports is essential to build a self-reliant economy. </span></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"">“Once exportable goods are produced, there would not be problem in marketing,” he assured. </span></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"">The chief secretary said that the establishment of export house for export promotion was a laudable initiative, and assured of assistance from government side as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Secretary at Foreign Ministry, Bharat Raj Paudel, said that the book shall serve as a good guide on how the Nepali products could be exported.</span></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"">“Quality must be ensured in such products for foreign supply,” he told the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the foreign secretary, Nepali diplomatic missions abroad could help promote exports for which the Foreign Ministry is ready to facilitate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Secretary at the Ministry of Industry, Commerce and Supplies, Madhu Kumar Marasini, said that the government has been identifying the goods that can be exported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Businesspersons including Bhawani Rana and Kamalesh Kumar Agrawal also underscored the need for augmenting exports of Nepal's original products to meet the sustainable development goals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CBFIN Chairman Pawan Kumar Golyan said export promotion cold help generate jobs within home and reduce trade loss as well. Nepal's original products could be promoted for exports so that the country could create 800,000 jobs in two years. </span></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"">The book coauthored by Dr Gopal Prasad Tiwari, Uttam Prasad Gautam and Krishna Raj Bajgain has enlisted the exportable Nepali products as handmade paper, allo, cumin, cardamom, medicinal herbs, turmeric and basket. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18346', 'image' => '20230801012541_ppp.jpg', 'article_date' => '2023-08-01 13:24:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18615', 'article_category_id' => '1', 'title' => 'Govt's Restrictive Policies Stifling Trade and Industry: Private Sector', 'sub_title' => '', 'summary' => 'August 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.', '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 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have alleged that the government authorities have been giving them unnecessary hassles in the name of facilitating foreign trade and also due to needless investigations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Entrepreneurs claim that the government is creating obstacles in the business through policy intervention while the officials at the implementation level have made the things more problematic by indulging in corruption.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Representatives of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) said during an interaction with the customs officials of Birgunj on Sunday that the industrialists and traders are now unable to do business. </span></span></span></span></p> <p><span style="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 officials of Birgunj customs who attended the interaction clarified that their main objective is trade facilitation. They said that they are looking forward to solving the problems faced during the implementation of policies related to import and export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of the FNCCI, emphasized that foreign trade procedures should be transparent. Online and automated systems should be encouraged to promote transparency, he said. “Integrating the software of the integrated check posts of Nepal and India can also help in this," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Temani complained that despite the implementation of VCTS by the Revenue Investigation Department to control revenue leakage by making foreign trade transparent and dignified, the work of stopping vehicles in the name of investigation has not been stopped. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Lath, outgoing president of FNCCI Madhesh Province, said that trade and industry have become overburdened by one after another policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He claimed that the government's strict policies and regulations have promoted unauthorized trade. Participating entrepreneurs complained that the private sector has been hurt by the government's labeling system, customs assessment and revenue investigation raids implemented on imported goods since the beginning of the current fiscal year</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birgunj Customs, Dilaram Panthi said that an arrangement to keep a label on the imported goods with the details of the manufacturer and distributor was introduced for controlling unauthorized imports. </span></span></span></span></p> <p><span style="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 aim of any policy and rule brought by the government is to facilitate business. If there is a problem in its implementation, a solution should be found," 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:"Arial","sans-serif"">He also said that there is a need for coordination and cooperation between the private sector and customs officials for procedural reform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Birgunj Dry Port Customs Chief Ram Mainali said that customs assessment should be made scientific. He added that the problems encountered in the implementation of labels on imported goods will be addressed after the implementation of the procedure. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18344', 'image' => '20230801012238_1690798775.BIRGUNG.jpg', 'article_date' => '2023-08-01 13:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18614', 'article_category_id' => '1', 'title' => '16th Periodic Plan to Focus on Good Governance, Social Justice and Prosperity', 'sub_title' => '', 'summary' => 'August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plan is to ensure social justice in health, education, employment and housing while good governance in political, administrative and judicial fronts, according to the National Planning Commission, the government body responsible for the planning. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:18px"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, prosperity in social life, economic development and national economy are key issues, NPC Vice Chairman Dr Min Bahadur Shrestha said, adding, "All levels of government and stakeholders need to build capacity for smooth and effective coordination and collaboration so that the plan would be implemented in a result-oriented manner." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16th periodic plan will identify and address the structural barriers surfaced in the strategic development endeavours, he said, adding that that efforts of self-reliance in agricultural production, export promotion, development of tourism and industries, power trade, irrigation expansion, establishment of metal industry, complete use of labour force would help achieve national development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reform in service delivery, infrastructure development, strengthening of economic foundation and creation of decent and inclusive employment, quality education, urban management, social empowerment, social security, capacity enhancement on capital spending are other important areas included in the plan. -- RSS</span><br /> </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18343', 'image' => '20230801125035_20230703105203_image.jpg', 'article_date' => '2023-08-01 12:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18613', 'article_category_id' => '1', 'title' => 'US Report Identifies Corruption and Political Instability as Major Obstacles for Investment in Nepal', 'sub_title' => '', 'summary' => 'August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite considerable potential – particularly in the energy, tourism, information and communication technology (ICT), infrastructure and agriculture sectors – political instability, widespread corruption, cumbersome bureaucracy, and inconsistent implementation of laws and regulations have deterred potential investment, reads the 2023 Investment Climate Statement issued by the US Department of State.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report has mentioned political instability as a major obstacle to investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The COVID pandemic coupled with a fresh bout of political instability slowed reform efforts that might have made Nepal a more attractive investment destination. While the Government of Nepal (GoN) publicly states its keenness to attract foreign investment, this has yet to translate into meaningful practice. Despite these challenges, foreign direct investment (FDI) into the country has been increasing in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report further states that corruption, laws limiting the operations of foreign banks, lingering challenges in the repatriation of profits, controlled currency exchange facilities, prohibition of FDI in certain sectors as well as a minimum foreign investment threshold of NPR 20 million (USD 154,000), and the government’s monopoly over certain sectors of the economy (such as electricity transmission and petroleum distribution), undermine foreign investment in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Political uncertainty is a continuing challenge for foreign (as well as domestic) investors. Nepal’s ruling parties have spent much of their energy over the last years on internal political power struggles instead of governance, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“While fresh elections in November 2022, and a new government has raised hopes for political stability, this is not guaranteed. Political instability often engenders policy stagnation and uncertainty.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nevertheless, the report states that Nepal’s location between India and China presents opportunities for foreign investors. Nepal also possesses natural resources that have significant commercial potential.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower – Nepal has an estimated 40,000 megawatts (MW) of commercially-viable hydropower electricity generation potential, which could become a major source of income through electricity exports. Other sectors offering potential investment opportunities include agriculture, tourism, the ICT sector, and infrastructure. The tourism sector is recovering from the downturn due to the pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, Nepal offers opportunities for investors willing to accept the inherent risks and unpredictability of doing business in the country and who possess the resilience to invest with a long-term mindset. While Nepal has established some investment-friendly laws and regulations in recent years, significant barriers to investment remain, including the following reported by the business community:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A lack of understanding of international business standards and practices among the political and bureaucratic class, and a legal and regulatory regime that is not quite aligned with international practices also impede, hinder, and frustrate foreign investors, states the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “Elements of Nepal’s tax regime, in particular, may be inconsistent with international practices, and could trip-up foreign investors as has happened in two cases in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, immigration laws and visa policies for foreign workers are cumbersome. Inefficient government bureaucratic processes, a high rate of turnover among civil servants, and corruption exacerbate the difficulties for foreigners seeking to work in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s geography also presents challenges, adds the report. The country’s mountainous terrain, land-locked geography, and poor transportation infrastructure increases costs for raw materials and exports of finished goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade unions—each typically affiliated with parties or even factions within a political party—and unpredictable general strikes can create business risk, although this problem, once common, has diminished in recent years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the potential use of intimidation, extortion, and violence – including the use of improvised explosive devices – by insurgent groups targeting domestic political leaders, GoN entities, and businesses remains a source of potential instability, although this threat too has diminished in recent years (the country’s most prominent insurgent group—led by Netra Bikram Chand, also known as Biplav—agreed in March 2021, to enter peaceful politics, for example).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As Nepal has adopted a federal structure, new tax policies will be introduced at the local and regional levels, so there is a danger of investment being affected if double taxation is imposed, mentions the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is questionable how consistent Nepal's tax system is with international standards," the report said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dispute about the capital gains tax on the purchase and sale of ownership of Ncell, the decision made by the Nepalese court are presented as an example.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In 2019, a Malaysian company, Axiata (owner of NCell, the largest private telecom company in Nepal), was made to pay $450 million for alleged tax evasion over the 2016 transfer of NCell’s ownership from its previous owners, Swedish firm Telia Sonera. The Supreme Court’s verdict on this case has set the precedent for placing buyers on the hook for the tax liabilities of the sellers.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report further said that the US Embassy is aware of at least one U.S.-owned subsidiary in Nepal that is involved in a tax dispute with the GoN. Nepal’s Department of Revenue Investigation (DRI) has taken the company to court under the Income Tax Act 2002 and the Revenue Leakage (Investigation and Control) Act 1996. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current implication of these cases is that Nepal’s tax regime—particularly the above two Acts—needs to be carefully considered by foreign investors when buying/selling companies in Nepal to understand their local tax liabilities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18342', 'image' => '20230801115609_20160513034506_editor.jpg', 'article_date' => '2023-08-01 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18612', 'article_category_id' => '1', 'title' => 'NEA Under Pressure to Complete Bahrbise Substation', 'sub_title' => '', 'summary' => 'August 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.', '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 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.</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"">As the construction of the 102-megawatt Mid Bhotekoshi hydroelectric power plant in Sindhupalchowk under the ownership of Chilime Jaldyut Company has reached its final stage, the authority is under pressure to complete the construction of the substation to which the project will be connected to.</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 final phase of construction of the Mid Bhotekoshi will be completed within two months. The electricity generated from Mid Bhotekoshi will be connected to the Barhabise substation through a 220 kV transmission line. The project has already built towers of the transmission line from its power plant to the Barhabise substation, while the wire-pooling work is underway.</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 construction of the substation has been delayed due to the poor performance of the joint venture of the Chinese companies Guangxi Transmission and Substation Construction and Shenzhen Claw Electronics, which was awarded the contract for the construction of the Barhabise substation. </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 authority has warned the contractor that if the construction of the substation is not completed and the electricity of Mid Bhotekoshi cannot be connected, they will have to pay compensation. </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"">A high-level team of the authority, including Executive Director Kulman Ghising, Deputy Executive Director of Broadcasting Directorate Dirghayu Kumar Shrestha, and Deputy Executive Director of Project Management Directorate Tara Prasad Pradhan visited the substation construction site on Saturday.</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 team discussed with the project management and construction professionals the problems encountered in the construction, the condition of equipment supply, the construction completion schedule, among other issues.</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"">Executive Director Ghising said that the equipment for the substation, including the power transformer, has been brought to the construction site, and there is no reason for delaying the construction.</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"">“We are ready to facilitate the construction, and the construction should be completed within three months anyway. Otherwise, there may be a painful situation where Mid Bhotekoshi's electricity will be wasted, so let's all take this into consideration and work," he said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18341', 'image' => '20230801112547_NEA_20191104081559.jpg', 'article_date' => '2023-08-01 11:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18611', 'article_category_id' => '1', 'title' => 'Dengue Cases Surge in 10 Districts', 'sub_title' => 'Sunsari Accounts for More than Half of the Total Cases', 'summary' => 'August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The division’s Director Rudra Prasad Marasini informed RSS that 5,688 individuals have been infected by the disease across the country since last January. Among them, Sunsari district alone recorded 3,486 dengue cases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Marasini blamed people's recklessness behind the surge in infection. It has been raining continuously for some days and people have not paid attention to sanitation, thereby contributing to the alarming rise in spread of dengue, said Marasini. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As recent as a week back, there were only 4,619 cases of dengue in Nepal, but it ratcheted up quickly within a week, reaching 5,688. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue is caused by Aedes aegypti and Aedes albopictus species of mosquito. They lay eggs on clean water. The eggs turn into larva and larva to adult mosquito. Bite of such mosquito is dreadful, for it causes the dengue infection. So, puddle must be removed around houses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>10 districts most affected </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The state-owned RSS reported that Sunsari, Dhading, Kaski, Darchula, Kathmandu, Sankhuwasabha, Myagdi, Morang, Kanchanpur and Jhapa are the most affected districts. Sunsari alone has 3,486 cases while Kathmandu 96 and Jhapa 56. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Koshi Province is the most affected state with 3,821 dengue cases while Madhes Province has the least number with 26 patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the RSS, four persons have lost their lives to dengue fever since last January in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>First case in Nepal</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the available data, 32 infection cases were recorded in 2006 AD, 917 in 2010 AD, 686 in 2013 AD, 1,527 in 2016 AD, 2,111 in 2017 AD, 811 in 2018 AD, 17,992 in 2019 AD, 530 in 2020 AD and 540 in 2021 AD .</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Climate change</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to government officials, dengue patients have also been detected in Humla, Jumla, Mugu and Dolpa in recent years</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue Control Source Person and vector control officer Shyam Lal Acharya said mountainous region is becoming favourable for lifecycle of mosquitoes. Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18340', 'image' => '20230801104315_dengue-test_650x400_61442241844.jpg', 'article_date' => '2023-08-01 10:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July. The number of tourists visiting Nepal has been increasing with the decline in coronavirus infection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Tourism Board (NTB), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">357</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived here from India, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">693</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from China and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">561</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from America in July. </span></span></span></span></p> <p><span style="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 number of tourists visiting Nepal in July this year is more than the number of visitors in the corresponding month of last year. In July last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">462</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists had arrived in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the number of tourists coming to Nepal from SAARC countries is more than that from other countries. In July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">714</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived in Nepal from SAARC countries including India, Bangladesh, Sri Lanka, Pakistan and Bhutan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total 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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">183 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists visited Nepal from Asia including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">965 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from European countries including France, Denmark, Germany, and the UK.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists arrived here from the Americas, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">213 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Oceania and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">373 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Central Asia. Apart from these, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from other countries also visited Nepal in the review month, according to the data provided by the board.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> ।</span></span></span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18355', 'image' => '20230802110214_Tourist.jpg', 'article_date' => '2023-08-02 11:01:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18625', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Assistance from IFC for Infrastructure Development ', 'sub_title' => '', 'summary' => 'August 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. ', '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 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. </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 FNCCI stated that the support and cooperation from the IFC was necessary to promote small and medium-scale industries in Nepal, to promote infrastructure development and to see the improved investment status. </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 a meeting with Susan M Lund, IFC vice president for Economics and Private Sector Development, FNCCI President Chandra Prasad Dhakal urged for the assistance from the IFC to promote the economic environment in the country. </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"">"Nepal is currently grappling with economic issues primarily due to challenges in managing the post-COVID-19 situation. The government and the mass as well have been affected by the economic slowdown, particularly the private sector," 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"">The government's revenue decreased by around 13 percent and people's purchasing power has declined due to increasing inflation, he added. </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"">In response, the IFC Vice President said they were ready to cooperate with the FNCCI for the promotion of the private sector. </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"">As the IFC, World Bank Group claims, it is the largest global development institution focused on the private sector in developing countries. </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 FNCCI with the collaboration of the Corporation had organized a report on the contribution of the private sector in the economy and a conference of small and middle-scale entrepreneurs.</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 the occasion, Senior Vice-President of FNCCI, Anjan Shrestha, pointed out the need of making the market dynamic as most of the industries are in operation at low capacity. </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, Vice-Presidents—Hemraj Dhakal and Jyotsana Shrestha shared that improvement in the tax system was necessary for Nepal.</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"">President of the Investment and International Affairs Forum of FNCCI, Manoj Poudel, stressed on policy-level reforms for investment expansion, according to FNCCI. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> <br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18354', 'image' => '20230802103428_1690948464.ifccccccccccccc.jpg', 'article_date' => '2023-08-02 10:33:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18624', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 2: Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The state-owned Nepal Oil Corporation (NOC) has implemented these changes, which came into effect from 12:00 midnight on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NOC has increased petrol prices by Rs 9 per liter and prices of kerosene and diesel by Rs 7 per liter. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Following the price adjustment, a liter of petrol costs Rs 170 in Group A, Rs 172 in Group B, Rs 173 in Group C. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, diesel and kerosene prices will stand at Rs 150 per liter in Group A, Rs 152 per liter in Group B, and Rs 153 per liter in Group C.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">However, the cost of LP gas cylinders has decreased, with a reduction of Rs 130 per cylinder. Consequently, the price for an LP gas cylinder will now stand at Rs 1,660.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18353', 'image' => '20230802060357_collage (5).jpg', 'article_date' => '2023-08-02 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18623', 'article_category_id' => '1', 'title' => 'Nepal’s Exports Declined by over 21 Percent in FY 2022-23 ', 'sub_title' => '', 'summary' => 'August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the fiscal year 2022-23, Nepal's exports rate saw a decline of 21.4 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry of Industry, Commerce and Supplies, Nepal's total commodity exports amounted to Rs 157 billion during the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a meeting of the Industry, Commerce and Labour and Consumers' Welfare Committee under the House of Representatives on Tuesday, commerce and supplies secretary Madhu Kumar Marasini said there was also a 16.1 percent drop in total imports last fiscal year. Nepal imported commodities worth Rs 1,611 billion in the review year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's total foreign trade also witnessed a fall last year. The country recorded foreign trade equivalent to Rs 1,786 billion which is less by 16.6 percent compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The assessment of primary data of the last fiscal year shows that the contribution of exports to the total trade is 8.9 percent followed by 91 percent imports. </span></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"">In the fiscal year 2021-22, the export-import ratio was 1: 9.6 and it reached 1:10 last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18352', 'image' => '20230801081652_20180205113518_Clipboard46.jpg', 'article_date' => '2023-08-01 20:16:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18622', 'article_category_id' => '1', 'title' => 'InDrive Founder Tomsky Releases his Book "inDriver: from Siberia to Silicon Valley" in Nepali', 'sub_title' => '', 'summary' => 'Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">August 1: Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The book unveiling took place at the Kathmandu Marriott on Tuesday, where Tomsky presented the translated version of his book in the native language.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During the event, Tomsky expressed his excitement about the book now being available in three languages: English, Portuguese, and Nepali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky said that his goal is to reach a diverse audience worldwide, enabling them to comprehend his remarkable journey and growth of inDrive from its inception to expanding operations across 45 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Addressing the gathering, Tomsky revealed the motivation behind penning down his experiences. “I aim to inspire youths globally by sharing my real-life experiences through the pages of "inDriver: from Siberia to Silicon Valley”, said Tomsky. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">"I decided to have the book translated into Nepali to motivate young minds in Nepal, particularly those in the tech sphere, to venture into entrepreneurship. I firmly believe that resources are ubiquitous, and as a tech student, I kickstarted the inDrive platform with whatever resources were at my disposal," Tomsky emphasized.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky also expressed his deep attachment to developing nations, their ambitious youth, and the transformative power of technology. He believes in harnessing technology to drive positive change and uplift communities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">inDrive made informal inroads into Nepal last year, capturing the hearts of Nepali youth with its user-friendly and reliable services. The mobility company now operates in 45 countries and is in the process of formalizing its operations in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Globally, inDrive stands as the second-largest mobility company after Uber. Yet, Tomsky envisions even greater accomplishments in the future. His ambitious dream includes establishing a university by 2040, symbolizing the organization's commitment to knowledge, innovation, and education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">It all began in 2012 when Tomsky founded inDrive in his hometown, Siberia. Since then, his determination and vision have steered the company towards global success.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18351', 'image' => '20230801070947_collage (6).jpg', 'article_date' => '2023-08-01 19:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18621', 'article_category_id' => '1', 'title' => 'Pharping Hydropower Station to Be Developed as Energy Museum', 'sub_title' => '', 'summary' => 'Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The NEA has been preparing the master plan by appointing NEA Engineering Company as the consultant in order to develop the station as the tourism site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The old structures would be renovated and new structures constructed at unoccupied land linking the historic hydropower station with tourism, according to the NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Different structures including a park, a restaurant, shops, zipline, picnic spot, library and children's park would be constructed at the land of Station's reservoir and powerhouse area located at Dakshinkali municipality of Kathmandu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A plan has been set to develop the structures of the hydropower station as the museum by carrying out renovation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">It is estimated that it would take around one billion rupees for the implementation of the master plan prepared by the consultant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The station has 324 ropanis of land under its ownership. Forty-six ropanis of land of reservoir area and around 146 ropanis of land of powerhouse area would be used for the construction of tourism structures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, who arrived in Pharping to participate in sapling plantation programme organised on Monday at the premises of Pharping Hydropower Station on the occasion of the 38th anniversary of NEA, was briefed about the master plan.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet, Energy Secretary Dinesh Kumar Ghimire, NEA Managing Director Kul Man Ghising, among others observed the condition of different structures including the powerhouse. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18350', 'image' => '20230801061252_collage (5).jpg', 'article_date' => '2023-08-01 18:11:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18620', 'article_category_id' => '1', 'title' => 'World Bank Reaffirms Commitment to Support Nepal's Health System', 'sub_title' => '', 'summary' => 'The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">During the meeting, Minister Basnet praised the World Bank for its cooperation in various sectors of Nepal and requested further financial and technical assistance in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Country Director Zervos informed that the World Bank has been consistently providing support for Nepal's health sector. The bank has planned to offer a loan assistance of 100 million USD and a grant aid of 3.84 million USD for the health sector over the next five years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The approval process for this assistance is currently underway with the Council of Ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Zervos expressed the World Bank's happiness in collaborating to improve Nepal's health system, and he pledged to continue supporting Nepal during other epidemics, similar to the assistance provided during the COVID-19 pandemic. The World Bank had extended support during the pandemic by providing vaccines as grants.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet shared that a portion of the money received from the World Bank during the COVID-19 pandemic was saved, and the Ministry has initiated the necessary steps to spend the remaining amount on its own. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The surplus amount, initially sent to the Finance Ministry, will now be redirected back to the Ministry of Health for addressing potential disease outbreaks like dengue and funding other sectors. Approximately Rs 1 billion was saved from the World Bank's assistance during the COVID-19 pandemic. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18349', 'image' => '20230801050106_collage (4).jpg', 'article_date' => '2023-08-01 16:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18619', 'article_category_id' => '1', 'title' => 'TEAM Ventures Concludes Partial Exit from Foodmandu with 2x Returns', 'sub_title' => '', 'summary' => 'August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, TEAM Ventures said that the partial exit from Foodmandu resulted in two fold returns for the firm in a short time span of two years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">TEAM Ventures claimed that the firm’s strategic investment facilitated Foodmandu’s exponential expansion of its customer and restaurant base as well as geographic expansion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Foodmandu, Nepal’s largest food delivery company established in 2010, received Aeries A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020, added the statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In 2023, Dolma Impact Fund II further invested US$ 4 million in Series C funding, the firm said in the statement.</span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18348', 'image' => '20230801033606_IMG-20230731-WA0001.jpg', 'article_date' => '2023-08-01 15:35:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18618', 'article_category_id' => '1', 'title' => 'Investment in Tile Industry Increasing', 'sub_title' => '', 'summary' => 'August 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.', '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 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The businessmen who have been working in this field say that the use and demand of tiles is increasing both for residential and official buildings.</span></span></span></span></p> <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 data of the Department of Customs, Nepal imported tiles worth more than Rs 10 billion in the fiscal year (FY) 2078/79. </span></span></span></span></p> <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, a large amount of ceramic tiles are imported from India and China. Tiles are also imported from Indonesia, Malaysia, Vietnam, Bangladesh, Spain and other countries. The data indicates good prospects for the future of the tile industry in the country.</span></span></span></span></p> <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"">Based on this assessment, businessmen have started investing in such industries. Some of the industries are operational and some are under construction. According to the Department of Industry, the process of registration of new tiles industry is also underway.</span></span></span></span></p> <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 tiles industry of Prime Ceramics Pvt Ltd has come into operation recently. The company has been producing and selling tiles from a factory spread over an area of 10 bighas of land located in Brindavan Municipality-6 of Rautahat for about one month.</span></span></span></span></p> <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 company, the latest Italian technology has been installed in the factory. It is fully automatic. The company has invested Rs 25 million just for land. The company says that it has invested Rs 2 billion in total for land purchased and equipment. </span></span></span></span></p> <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 industry has given employment opportunities for the local residents as well as workers from neighboring districts and neighboring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pradeep Kumar Jha, the general manager of the company, said that although the target of the industry is to produce tiles of 11 different sizes, they are currently producing 5 different sizes of tiles.</span></span></span></span></p> <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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The production capacity is 150,000 square feet of tiles per day," Jha said. "The industry will run in full capacity within the next six months, which will create more jobs." </span></span></span></span></p> <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 industry has given employment to 300 people. Jha said that customers in Nepal can avail domestically produced tiles at 20 to 25 percent cheaper than the tiles coming from the international market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The industry is currently sending three truckloads of tiles to the market daily. According to Jha, 45 percent of the production goes to Kathmandu. Jha says that Kathmandu Valley is the main market at present. The rest of the production is being sent to other cities in the country.</span></span></span></span></p> <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 industry, which is thinking of exporting its product to India as well, has filed an application with the Department of Mines and Geology seeking for permission to use the red clay as a raw material. According to Jha, the industry is using most of the raw materials from 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"">The industry is producing tiles in two dozen colors. General Manager Jha also claimed that their products are of high quality and have the ability to compete with international brands.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18347', 'image' => '20230801032047_1690858902.2023-08-01 08.46.31.jpg', 'article_date' => '2023-08-01 15:20:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18617', 'article_category_id' => '1', 'title' => '‘Govt-Private Sector Collaboration a Must for Self-Reliant Economy’', 'sub_title' => '', 'summary' => 'August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Releasing a book entitled 'Self Reliant Economy and Export Potential' during a programme organized jointly by the Confederation of Bank and Financial Institutions of Nepal (CBFIN), and Federation of Nepal Exports' Association on Monday, Chief Secretary Aryal said promotion of exports is essential to build a self-reliant economy. </span></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"">“Once exportable goods are produced, there would not be problem in marketing,” he assured. </span></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"">The chief secretary said that the establishment of export house for export promotion was a laudable initiative, and assured of assistance from government side as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Secretary at Foreign Ministry, Bharat Raj Paudel, said that the book shall serve as a good guide on how the Nepali products could be exported.</span></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"">“Quality must be ensured in such products for foreign supply,” he told the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the foreign secretary, Nepali diplomatic missions abroad could help promote exports for which the Foreign Ministry is ready to facilitate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Secretary at the Ministry of Industry, Commerce and Supplies, Madhu Kumar Marasini, said that the government has been identifying the goods that can be exported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Businesspersons including Bhawani Rana and Kamalesh Kumar Agrawal also underscored the need for augmenting exports of Nepal's original products to meet the sustainable development goals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CBFIN Chairman Pawan Kumar Golyan said export promotion cold help generate jobs within home and reduce trade loss as well. Nepal's original products could be promoted for exports so that the country could create 800,000 jobs in two years. </span></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"">The book coauthored by Dr Gopal Prasad Tiwari, Uttam Prasad Gautam and Krishna Raj Bajgain has enlisted the exportable Nepali products as handmade paper, allo, cumin, cardamom, medicinal herbs, turmeric and basket. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18346', 'image' => '20230801012541_ppp.jpg', 'article_date' => '2023-08-01 13:24:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18615', 'article_category_id' => '1', 'title' => 'Govt's Restrictive Policies Stifling Trade and Industry: Private Sector', 'sub_title' => '', 'summary' => 'August 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.', '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 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have alleged that the government authorities have been giving them unnecessary hassles in the name of facilitating foreign trade and also due to needless investigations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Entrepreneurs claim that the government is creating obstacles in the business through policy intervention while the officials at the implementation level have made the things more problematic by indulging in corruption.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Representatives of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) said during an interaction with the customs officials of Birgunj on Sunday that the industrialists and traders are now unable to do business. </span></span></span></span></p> <p><span style="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 officials of Birgunj customs who attended the interaction clarified that their main objective is trade facilitation. They said that they are looking forward to solving the problems faced during the implementation of policies related to import and export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of the FNCCI, emphasized that foreign trade procedures should be transparent. Online and automated systems should be encouraged to promote transparency, he said. “Integrating the software of the integrated check posts of Nepal and India can also help in this," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Temani complained that despite the implementation of VCTS by the Revenue Investigation Department to control revenue leakage by making foreign trade transparent and dignified, the work of stopping vehicles in the name of investigation has not been stopped. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Lath, outgoing president of FNCCI Madhesh Province, said that trade and industry have become overburdened by one after another policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He claimed that the government's strict policies and regulations have promoted unauthorized trade. Participating entrepreneurs complained that the private sector has been hurt by the government's labeling system, customs assessment and revenue investigation raids implemented on imported goods since the beginning of the current fiscal year</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birgunj Customs, Dilaram Panthi said that an arrangement to keep a label on the imported goods with the details of the manufacturer and distributor was introduced for controlling unauthorized imports. </span></span></span></span></p> <p><span style="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 aim of any policy and rule brought by the government is to facilitate business. If there is a problem in its implementation, a solution should be found," 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:"Arial","sans-serif"">He also said that there is a need for coordination and cooperation between the private sector and customs officials for procedural reform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Birgunj Dry Port Customs Chief Ram Mainali said that customs assessment should be made scientific. He added that the problems encountered in the implementation of labels on imported goods will be addressed after the implementation of the procedure. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18344', 'image' => '20230801012238_1690798775.BIRGUNG.jpg', 'article_date' => '2023-08-01 13:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18614', 'article_category_id' => '1', 'title' => '16th Periodic Plan to Focus on Good Governance, Social Justice and Prosperity', 'sub_title' => '', 'summary' => 'August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plan is to ensure social justice in health, education, employment and housing while good governance in political, administrative and judicial fronts, according to the National Planning Commission, the government body responsible for the planning. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:18px"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, prosperity in social life, economic development and national economy are key issues, NPC Vice Chairman Dr Min Bahadur Shrestha said, adding, "All levels of government and stakeholders need to build capacity for smooth and effective coordination and collaboration so that the plan would be implemented in a result-oriented manner." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16th periodic plan will identify and address the structural barriers surfaced in the strategic development endeavours, he said, adding that that efforts of self-reliance in agricultural production, export promotion, development of tourism and industries, power trade, irrigation expansion, establishment of metal industry, complete use of labour force would help achieve national development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reform in service delivery, infrastructure development, strengthening of economic foundation and creation of decent and inclusive employment, quality education, urban management, social empowerment, social security, capacity enhancement on capital spending are other important areas included in the plan. -- RSS</span><br /> </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18343', 'image' => '20230801125035_20230703105203_image.jpg', 'article_date' => '2023-08-01 12:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18613', 'article_category_id' => '1', 'title' => 'US Report Identifies Corruption and Political Instability as Major Obstacles for Investment in Nepal', 'sub_title' => '', 'summary' => 'August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite considerable potential – particularly in the energy, tourism, information and communication technology (ICT), infrastructure and agriculture sectors – political instability, widespread corruption, cumbersome bureaucracy, and inconsistent implementation of laws and regulations have deterred potential investment, reads the 2023 Investment Climate Statement issued by the US Department of State.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report has mentioned political instability as a major obstacle to investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The COVID pandemic coupled with a fresh bout of political instability slowed reform efforts that might have made Nepal a more attractive investment destination. While the Government of Nepal (GoN) publicly states its keenness to attract foreign investment, this has yet to translate into meaningful practice. Despite these challenges, foreign direct investment (FDI) into the country has been increasing in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report further states that corruption, laws limiting the operations of foreign banks, lingering challenges in the repatriation of profits, controlled currency exchange facilities, prohibition of FDI in certain sectors as well as a minimum foreign investment threshold of NPR 20 million (USD 154,000), and the government’s monopoly over certain sectors of the economy (such as electricity transmission and petroleum distribution), undermine foreign investment in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Political uncertainty is a continuing challenge for foreign (as well as domestic) investors. Nepal’s ruling parties have spent much of their energy over the last years on internal political power struggles instead of governance, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“While fresh elections in November 2022, and a new government has raised hopes for political stability, this is not guaranteed. Political instability often engenders policy stagnation and uncertainty.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nevertheless, the report states that Nepal’s location between India and China presents opportunities for foreign investors. Nepal also possesses natural resources that have significant commercial potential.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower – Nepal has an estimated 40,000 megawatts (MW) of commercially-viable hydropower electricity generation potential, which could become a major source of income through electricity exports. Other sectors offering potential investment opportunities include agriculture, tourism, the ICT sector, and infrastructure. The tourism sector is recovering from the downturn due to the pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, Nepal offers opportunities for investors willing to accept the inherent risks and unpredictability of doing business in the country and who possess the resilience to invest with a long-term mindset. While Nepal has established some investment-friendly laws and regulations in recent years, significant barriers to investment remain, including the following reported by the business community:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A lack of understanding of international business standards and practices among the political and bureaucratic class, and a legal and regulatory regime that is not quite aligned with international practices also impede, hinder, and frustrate foreign investors, states the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “Elements of Nepal’s tax regime, in particular, may be inconsistent with international practices, and could trip-up foreign investors as has happened in two cases in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, immigration laws and visa policies for foreign workers are cumbersome. Inefficient government bureaucratic processes, a high rate of turnover among civil servants, and corruption exacerbate the difficulties for foreigners seeking to work in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s geography also presents challenges, adds the report. The country’s mountainous terrain, land-locked geography, and poor transportation infrastructure increases costs for raw materials and exports of finished goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade unions—each typically affiliated with parties or even factions within a political party—and unpredictable general strikes can create business risk, although this problem, once common, has diminished in recent years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the potential use of intimidation, extortion, and violence – including the use of improvised explosive devices – by insurgent groups targeting domestic political leaders, GoN entities, and businesses remains a source of potential instability, although this threat too has diminished in recent years (the country’s most prominent insurgent group—led by Netra Bikram Chand, also known as Biplav—agreed in March 2021, to enter peaceful politics, for example).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As Nepal has adopted a federal structure, new tax policies will be introduced at the local and regional levels, so there is a danger of investment being affected if double taxation is imposed, mentions the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is questionable how consistent Nepal's tax system is with international standards," the report said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dispute about the capital gains tax on the purchase and sale of ownership of Ncell, the decision made by the Nepalese court are presented as an example.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In 2019, a Malaysian company, Axiata (owner of NCell, the largest private telecom company in Nepal), was made to pay $450 million for alleged tax evasion over the 2016 transfer of NCell’s ownership from its previous owners, Swedish firm Telia Sonera. The Supreme Court’s verdict on this case has set the precedent for placing buyers on the hook for the tax liabilities of the sellers.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report further said that the US Embassy is aware of at least one U.S.-owned subsidiary in Nepal that is involved in a tax dispute with the GoN. Nepal’s Department of Revenue Investigation (DRI) has taken the company to court under the Income Tax Act 2002 and the Revenue Leakage (Investigation and Control) Act 1996. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current implication of these cases is that Nepal’s tax regime—particularly the above two Acts—needs to be carefully considered by foreign investors when buying/selling companies in Nepal to understand their local tax liabilities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18342', 'image' => '20230801115609_20160513034506_editor.jpg', 'article_date' => '2023-08-01 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18612', 'article_category_id' => '1', 'title' => 'NEA Under Pressure to Complete Bahrbise Substation', 'sub_title' => '', 'summary' => 'August 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.', '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 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.</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"">As the construction of the 102-megawatt Mid Bhotekoshi hydroelectric power plant in Sindhupalchowk under the ownership of Chilime Jaldyut Company has reached its final stage, the authority is under pressure to complete the construction of the substation to which the project will be connected to.</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 final phase of construction of the Mid Bhotekoshi will be completed within two months. The electricity generated from Mid Bhotekoshi will be connected to the Barhabise substation through a 220 kV transmission line. The project has already built towers of the transmission line from its power plant to the Barhabise substation, while the wire-pooling work is underway.</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 construction of the substation has been delayed due to the poor performance of the joint venture of the Chinese companies Guangxi Transmission and Substation Construction and Shenzhen Claw Electronics, which was awarded the contract for the construction of the Barhabise substation. </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 authority has warned the contractor that if the construction of the substation is not completed and the electricity of Mid Bhotekoshi cannot be connected, they will have to pay compensation. </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"">A high-level team of the authority, including Executive Director Kulman Ghising, Deputy Executive Director of Broadcasting Directorate Dirghayu Kumar Shrestha, and Deputy Executive Director of Project Management Directorate Tara Prasad Pradhan visited the substation construction site on Saturday.</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 team discussed with the project management and construction professionals the problems encountered in the construction, the condition of equipment supply, the construction completion schedule, among other issues.</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"">Executive Director Ghising said that the equipment for the substation, including the power transformer, has been brought to the construction site, and there is no reason for delaying the construction.</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"">“We are ready to facilitate the construction, and the construction should be completed within three months anyway. Otherwise, there may be a painful situation where Mid Bhotekoshi's electricity will be wasted, so let's all take this into consideration and work," he said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18341', 'image' => '20230801112547_NEA_20191104081559.jpg', 'article_date' => '2023-08-01 11:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18611', 'article_category_id' => '1', 'title' => 'Dengue Cases Surge in 10 Districts', 'sub_title' => 'Sunsari Accounts for More than Half of the Total Cases', 'summary' => 'August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The division’s Director Rudra Prasad Marasini informed RSS that 5,688 individuals have been infected by the disease across the country since last January. Among them, Sunsari district alone recorded 3,486 dengue cases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Marasini blamed people's recklessness behind the surge in infection. It has been raining continuously for some days and people have not paid attention to sanitation, thereby contributing to the alarming rise in spread of dengue, said Marasini. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As recent as a week back, there were only 4,619 cases of dengue in Nepal, but it ratcheted up quickly within a week, reaching 5,688. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue is caused by Aedes aegypti and Aedes albopictus species of mosquito. They lay eggs on clean water. The eggs turn into larva and larva to adult mosquito. Bite of such mosquito is dreadful, for it causes the dengue infection. So, puddle must be removed around houses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>10 districts most affected </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The state-owned RSS reported that Sunsari, Dhading, Kaski, Darchula, Kathmandu, Sankhuwasabha, Myagdi, Morang, Kanchanpur and Jhapa are the most affected districts. Sunsari alone has 3,486 cases while Kathmandu 96 and Jhapa 56. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Koshi Province is the most affected state with 3,821 dengue cases while Madhes Province has the least number with 26 patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the RSS, four persons have lost their lives to dengue fever since last January in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>First case in Nepal</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the available data, 32 infection cases were recorded in 2006 AD, 917 in 2010 AD, 686 in 2013 AD, 1,527 in 2016 AD, 2,111 in 2017 AD, 811 in 2018 AD, 17,992 in 2019 AD, 530 in 2020 AD and 540 in 2021 AD .</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Climate change</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to government officials, dengue patients have also been detected in Humla, Jumla, Mugu and Dolpa in recent years</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue Control Source Person and vector control officer Shyam Lal Acharya said mountainous region is becoming favourable for lifecycle of mosquitoes. Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18340', 'image' => '20230801104315_dengue-test_650x400_61442241844.jpg', 'article_date' => '2023-08-01 10:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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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 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July. The number of tourists visiting Nepal has been increasing with the decline in coronavirus infection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Tourism Board (NTB), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">357</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived here from India, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">693</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from China and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">561</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from America in July. </span></span></span></span></p> <p><span style="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 number of tourists visiting Nepal in July this year is more than the number of visitors in the corresponding month of last year. In July last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">462</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists had arrived in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the number of tourists coming to Nepal from SAARC countries is more than that from other countries. In July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">714</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived in Nepal from SAARC countries including India, Bangladesh, Sri Lanka, Pakistan and Bhutan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total 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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">183 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists visited Nepal from Asia including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">965 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from European countries including France, Denmark, Germany, and the UK.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists arrived here from the Americas, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">213 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Oceania and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">373 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Central Asia. Apart from these, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from other countries also visited Nepal in the review month, according to the data provided by the board.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> ।</span></span></span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18355', 'image' => '20230802110214_Tourist.jpg', 'article_date' => '2023-08-02 11:01:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18625', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Assistance from IFC for Infrastructure Development ', 'sub_title' => '', 'summary' => 'August 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. ', '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 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. </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 FNCCI stated that the support and cooperation from the IFC was necessary to promote small and medium-scale industries in Nepal, to promote infrastructure development and to see the improved investment status. </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 a meeting with Susan M Lund, IFC vice president for Economics and Private Sector Development, FNCCI President Chandra Prasad Dhakal urged for the assistance from the IFC to promote the economic environment in the country. </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"">"Nepal is currently grappling with economic issues primarily due to challenges in managing the post-COVID-19 situation. The government and the mass as well have been affected by the economic slowdown, particularly the private sector," 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"">The government's revenue decreased by around 13 percent and people's purchasing power has declined due to increasing inflation, he added. </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"">In response, the IFC Vice President said they were ready to cooperate with the FNCCI for the promotion of the private sector. </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"">As the IFC, World Bank Group claims, it is the largest global development institution focused on the private sector in developing countries. </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 FNCCI with the collaboration of the Corporation had organized a report on the contribution of the private sector in the economy and a conference of small and middle-scale entrepreneurs.</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 the occasion, Senior Vice-President of FNCCI, Anjan Shrestha, pointed out the need of making the market dynamic as most of the industries are in operation at low capacity. </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, Vice-Presidents—Hemraj Dhakal and Jyotsana Shrestha shared that improvement in the tax system was necessary for Nepal.</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"">President of the Investment and International Affairs Forum of FNCCI, Manoj Poudel, stressed on policy-level reforms for investment expansion, according to FNCCI. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> <br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18354', 'image' => '20230802103428_1690948464.ifccccccccccccc.jpg', 'article_date' => '2023-08-02 10:33:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18624', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 2: Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The state-owned Nepal Oil Corporation (NOC) has implemented these changes, which came into effect from 12:00 midnight on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NOC has increased petrol prices by Rs 9 per liter and prices of kerosene and diesel by Rs 7 per liter. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Following the price adjustment, a liter of petrol costs Rs 170 in Group A, Rs 172 in Group B, Rs 173 in Group C. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, diesel and kerosene prices will stand at Rs 150 per liter in Group A, Rs 152 per liter in Group B, and Rs 153 per liter in Group C.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">However, the cost of LP gas cylinders has decreased, with a reduction of Rs 130 per cylinder. Consequently, the price for an LP gas cylinder will now stand at Rs 1,660.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18353', 'image' => '20230802060357_collage (5).jpg', 'article_date' => '2023-08-02 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18623', 'article_category_id' => '1', 'title' => 'Nepal’s Exports Declined by over 21 Percent in FY 2022-23 ', 'sub_title' => '', 'summary' => 'August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the fiscal year 2022-23, Nepal's exports rate saw a decline of 21.4 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry of Industry, Commerce and Supplies, Nepal's total commodity exports amounted to Rs 157 billion during the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a meeting of the Industry, Commerce and Labour and Consumers' Welfare Committee under the House of Representatives on Tuesday, commerce and supplies secretary Madhu Kumar Marasini said there was also a 16.1 percent drop in total imports last fiscal year. Nepal imported commodities worth Rs 1,611 billion in the review year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's total foreign trade also witnessed a fall last year. The country recorded foreign trade equivalent to Rs 1,786 billion which is less by 16.6 percent compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The assessment of primary data of the last fiscal year shows that the contribution of exports to the total trade is 8.9 percent followed by 91 percent imports. </span></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"">In the fiscal year 2021-22, the export-import ratio was 1: 9.6 and it reached 1:10 last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18352', 'image' => '20230801081652_20180205113518_Clipboard46.jpg', 'article_date' => '2023-08-01 20:16:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18622', 'article_category_id' => '1', 'title' => 'InDrive Founder Tomsky Releases his Book "inDriver: from Siberia to Silicon Valley" in Nepali', 'sub_title' => '', 'summary' => 'Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">August 1: Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The book unveiling took place at the Kathmandu Marriott on Tuesday, where Tomsky presented the translated version of his book in the native language.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During the event, Tomsky expressed his excitement about the book now being available in three languages: English, Portuguese, and Nepali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky said that his goal is to reach a diverse audience worldwide, enabling them to comprehend his remarkable journey and growth of inDrive from its inception to expanding operations across 45 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Addressing the gathering, Tomsky revealed the motivation behind penning down his experiences. “I aim to inspire youths globally by sharing my real-life experiences through the pages of "inDriver: from Siberia to Silicon Valley”, said Tomsky. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">"I decided to have the book translated into Nepali to motivate young minds in Nepal, particularly those in the tech sphere, to venture into entrepreneurship. I firmly believe that resources are ubiquitous, and as a tech student, I kickstarted the inDrive platform with whatever resources were at my disposal," Tomsky emphasized.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky also expressed his deep attachment to developing nations, their ambitious youth, and the transformative power of technology. He believes in harnessing technology to drive positive change and uplift communities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">inDrive made informal inroads into Nepal last year, capturing the hearts of Nepali youth with its user-friendly and reliable services. The mobility company now operates in 45 countries and is in the process of formalizing its operations in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Globally, inDrive stands as the second-largest mobility company after Uber. Yet, Tomsky envisions even greater accomplishments in the future. His ambitious dream includes establishing a university by 2040, symbolizing the organization's commitment to knowledge, innovation, and education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">It all began in 2012 when Tomsky founded inDrive in his hometown, Siberia. Since then, his determination and vision have steered the company towards global success.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18351', 'image' => '20230801070947_collage (6).jpg', 'article_date' => '2023-08-01 19:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18621', 'article_category_id' => '1', 'title' => 'Pharping Hydropower Station to Be Developed as Energy Museum', 'sub_title' => '', 'summary' => 'Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The NEA has been preparing the master plan by appointing NEA Engineering Company as the consultant in order to develop the station as the tourism site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The old structures would be renovated and new structures constructed at unoccupied land linking the historic hydropower station with tourism, according to the NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Different structures including a park, a restaurant, shops, zipline, picnic spot, library and children's park would be constructed at the land of Station's reservoir and powerhouse area located at Dakshinkali municipality of Kathmandu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A plan has been set to develop the structures of the hydropower station as the museum by carrying out renovation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">It is estimated that it would take around one billion rupees for the implementation of the master plan prepared by the consultant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The station has 324 ropanis of land under its ownership. Forty-six ropanis of land of reservoir area and around 146 ropanis of land of powerhouse area would be used for the construction of tourism structures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, who arrived in Pharping to participate in sapling plantation programme organised on Monday at the premises of Pharping Hydropower Station on the occasion of the 38th anniversary of NEA, was briefed about the master plan.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet, Energy Secretary Dinesh Kumar Ghimire, NEA Managing Director Kul Man Ghising, among others observed the condition of different structures including the powerhouse. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18350', 'image' => '20230801061252_collage (5).jpg', 'article_date' => '2023-08-01 18:11:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18620', 'article_category_id' => '1', 'title' => 'World Bank Reaffirms Commitment to Support Nepal's Health System', 'sub_title' => '', 'summary' => 'The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">During the meeting, Minister Basnet praised the World Bank for its cooperation in various sectors of Nepal and requested further financial and technical assistance in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Country Director Zervos informed that the World Bank has been consistently providing support for Nepal's health sector. The bank has planned to offer a loan assistance of 100 million USD and a grant aid of 3.84 million USD for the health sector over the next five years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The approval process for this assistance is currently underway with the Council of Ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Zervos expressed the World Bank's happiness in collaborating to improve Nepal's health system, and he pledged to continue supporting Nepal during other epidemics, similar to the assistance provided during the COVID-19 pandemic. The World Bank had extended support during the pandemic by providing vaccines as grants.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet shared that a portion of the money received from the World Bank during the COVID-19 pandemic was saved, and the Ministry has initiated the necessary steps to spend the remaining amount on its own. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The surplus amount, initially sent to the Finance Ministry, will now be redirected back to the Ministry of Health for addressing potential disease outbreaks like dengue and funding other sectors. Approximately Rs 1 billion was saved from the World Bank's assistance during the COVID-19 pandemic. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18349', 'image' => '20230801050106_collage (4).jpg', 'article_date' => '2023-08-01 16:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18619', 'article_category_id' => '1', 'title' => 'TEAM Ventures Concludes Partial Exit from Foodmandu with 2x Returns', 'sub_title' => '', 'summary' => 'August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, TEAM Ventures said that the partial exit from Foodmandu resulted in two fold returns for the firm in a short time span of two years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">TEAM Ventures claimed that the firm’s strategic investment facilitated Foodmandu’s exponential expansion of its customer and restaurant base as well as geographic expansion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Foodmandu, Nepal’s largest food delivery company established in 2010, received Aeries A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020, added the statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In 2023, Dolma Impact Fund II further invested US$ 4 million in Series C funding, the firm said in the statement.</span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18348', 'image' => '20230801033606_IMG-20230731-WA0001.jpg', 'article_date' => '2023-08-01 15:35:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18618', 'article_category_id' => '1', 'title' => 'Investment in Tile Industry Increasing', 'sub_title' => '', 'summary' => 'August 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.', '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 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The businessmen who have been working in this field say that the use and demand of tiles is increasing both for residential and official buildings.</span></span></span></span></p> <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 data of the Department of Customs, Nepal imported tiles worth more than Rs 10 billion in the fiscal year (FY) 2078/79. </span></span></span></span></p> <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, a large amount of ceramic tiles are imported from India and China. Tiles are also imported from Indonesia, Malaysia, Vietnam, Bangladesh, Spain and other countries. The data indicates good prospects for the future of the tile industry in the country.</span></span></span></span></p> <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"">Based on this assessment, businessmen have started investing in such industries. Some of the industries are operational and some are under construction. According to the Department of Industry, the process of registration of new tiles industry is also underway.</span></span></span></span></p> <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 tiles industry of Prime Ceramics Pvt Ltd has come into operation recently. The company has been producing and selling tiles from a factory spread over an area of 10 bighas of land located in Brindavan Municipality-6 of Rautahat for about one month.</span></span></span></span></p> <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 company, the latest Italian technology has been installed in the factory. It is fully automatic. The company has invested Rs 25 million just for land. The company says that it has invested Rs 2 billion in total for land purchased and equipment. </span></span></span></span></p> <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 industry has given employment opportunities for the local residents as well as workers from neighboring districts and neighboring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pradeep Kumar Jha, the general manager of the company, said that although the target of the industry is to produce tiles of 11 different sizes, they are currently producing 5 different sizes of tiles.</span></span></span></span></p> <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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The production capacity is 150,000 square feet of tiles per day," Jha said. "The industry will run in full capacity within the next six months, which will create more jobs." </span></span></span></span></p> <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 industry has given employment to 300 people. Jha said that customers in Nepal can avail domestically produced tiles at 20 to 25 percent cheaper than the tiles coming from the international market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The industry is currently sending three truckloads of tiles to the market daily. According to Jha, 45 percent of the production goes to Kathmandu. Jha says that Kathmandu Valley is the main market at present. The rest of the production is being sent to other cities in the country.</span></span></span></span></p> <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 industry, which is thinking of exporting its product to India as well, has filed an application with the Department of Mines and Geology seeking for permission to use the red clay as a raw material. According to Jha, the industry is using most of the raw materials from 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"">The industry is producing tiles in two dozen colors. General Manager Jha also claimed that their products are of high quality and have the ability to compete with international brands.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18347', 'image' => '20230801032047_1690858902.2023-08-01 08.46.31.jpg', 'article_date' => '2023-08-01 15:20:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18617', 'article_category_id' => '1', 'title' => '‘Govt-Private Sector Collaboration a Must for Self-Reliant Economy’', 'sub_title' => '', 'summary' => 'August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Releasing a book entitled 'Self Reliant Economy and Export Potential' during a programme organized jointly by the Confederation of Bank and Financial Institutions of Nepal (CBFIN), and Federation of Nepal Exports' Association on Monday, Chief Secretary Aryal said promotion of exports is essential to build a self-reliant economy. </span></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"">“Once exportable goods are produced, there would not be problem in marketing,” he assured. </span></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"">The chief secretary said that the establishment of export house for export promotion was a laudable initiative, and assured of assistance from government side as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Secretary at Foreign Ministry, Bharat Raj Paudel, said that the book shall serve as a good guide on how the Nepali products could be exported.</span></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"">“Quality must be ensured in such products for foreign supply,” he told the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the foreign secretary, Nepali diplomatic missions abroad could help promote exports for which the Foreign Ministry is ready to facilitate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Secretary at the Ministry of Industry, Commerce and Supplies, Madhu Kumar Marasini, said that the government has been identifying the goods that can be exported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Businesspersons including Bhawani Rana and Kamalesh Kumar Agrawal also underscored the need for augmenting exports of Nepal's original products to meet the sustainable development goals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CBFIN Chairman Pawan Kumar Golyan said export promotion cold help generate jobs within home and reduce trade loss as well. Nepal's original products could be promoted for exports so that the country could create 800,000 jobs in two years. </span></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"">The book coauthored by Dr Gopal Prasad Tiwari, Uttam Prasad Gautam and Krishna Raj Bajgain has enlisted the exportable Nepali products as handmade paper, allo, cumin, cardamom, medicinal herbs, turmeric and basket. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18346', 'image' => '20230801012541_ppp.jpg', 'article_date' => '2023-08-01 13:24:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18615', 'article_category_id' => '1', 'title' => 'Govt's Restrictive Policies Stifling Trade and Industry: Private Sector', 'sub_title' => '', 'summary' => 'August 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.', '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 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have alleged that the government authorities have been giving them unnecessary hassles in the name of facilitating foreign trade and also due to needless investigations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Entrepreneurs claim that the government is creating obstacles in the business through policy intervention while the officials at the implementation level have made the things more problematic by indulging in corruption.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Representatives of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) said during an interaction with the customs officials of Birgunj on Sunday that the industrialists and traders are now unable to do business. </span></span></span></span></p> <p><span style="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 officials of Birgunj customs who attended the interaction clarified that their main objective is trade facilitation. They said that they are looking forward to solving the problems faced during the implementation of policies related to import and export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of the FNCCI, emphasized that foreign trade procedures should be transparent. Online and automated systems should be encouraged to promote transparency, he said. “Integrating the software of the integrated check posts of Nepal and India can also help in this," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Temani complained that despite the implementation of VCTS by the Revenue Investigation Department to control revenue leakage by making foreign trade transparent and dignified, the work of stopping vehicles in the name of investigation has not been stopped. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Lath, outgoing president of FNCCI Madhesh Province, said that trade and industry have become overburdened by one after another policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He claimed that the government's strict policies and regulations have promoted unauthorized trade. Participating entrepreneurs complained that the private sector has been hurt by the government's labeling system, customs assessment and revenue investigation raids implemented on imported goods since the beginning of the current fiscal year</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birgunj Customs, Dilaram Panthi said that an arrangement to keep a label on the imported goods with the details of the manufacturer and distributor was introduced for controlling unauthorized imports. </span></span></span></span></p> <p><span style="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 aim of any policy and rule brought by the government is to facilitate business. If there is a problem in its implementation, a solution should be found," 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:"Arial","sans-serif"">He also said that there is a need for coordination and cooperation between the private sector and customs officials for procedural reform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Birgunj Dry Port Customs Chief Ram Mainali said that customs assessment should be made scientific. He added that the problems encountered in the implementation of labels on imported goods will be addressed after the implementation of the procedure. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18344', 'image' => '20230801012238_1690798775.BIRGUNG.jpg', 'article_date' => '2023-08-01 13:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18614', 'article_category_id' => '1', 'title' => '16th Periodic Plan to Focus on Good Governance, Social Justice and Prosperity', 'sub_title' => '', 'summary' => 'August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plan is to ensure social justice in health, education, employment and housing while good governance in political, administrative and judicial fronts, according to the National Planning Commission, the government body responsible for the planning. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:18px"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, prosperity in social life, economic development and national economy are key issues, NPC Vice Chairman Dr Min Bahadur Shrestha said, adding, "All levels of government and stakeholders need to build capacity for smooth and effective coordination and collaboration so that the plan would be implemented in a result-oriented manner." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16th periodic plan will identify and address the structural barriers surfaced in the strategic development endeavours, he said, adding that that efforts of self-reliance in agricultural production, export promotion, development of tourism and industries, power trade, irrigation expansion, establishment of metal industry, complete use of labour force would help achieve national development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reform in service delivery, infrastructure development, strengthening of economic foundation and creation of decent and inclusive employment, quality education, urban management, social empowerment, social security, capacity enhancement on capital spending are other important areas included in the plan. -- RSS</span><br /> </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18343', 'image' => '20230801125035_20230703105203_image.jpg', 'article_date' => '2023-08-01 12:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18613', 'article_category_id' => '1', 'title' => 'US Report Identifies Corruption and Political Instability as Major Obstacles for Investment in Nepal', 'sub_title' => '', 'summary' => 'August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite considerable potential – particularly in the energy, tourism, information and communication technology (ICT), infrastructure and agriculture sectors – political instability, widespread corruption, cumbersome bureaucracy, and inconsistent implementation of laws and regulations have deterred potential investment, reads the 2023 Investment Climate Statement issued by the US Department of State.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report has mentioned political instability as a major obstacle to investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The COVID pandemic coupled with a fresh bout of political instability slowed reform efforts that might have made Nepal a more attractive investment destination. While the Government of Nepal (GoN) publicly states its keenness to attract foreign investment, this has yet to translate into meaningful practice. Despite these challenges, foreign direct investment (FDI) into the country has been increasing in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report further states that corruption, laws limiting the operations of foreign banks, lingering challenges in the repatriation of profits, controlled currency exchange facilities, prohibition of FDI in certain sectors as well as a minimum foreign investment threshold of NPR 20 million (USD 154,000), and the government’s monopoly over certain sectors of the economy (such as electricity transmission and petroleum distribution), undermine foreign investment in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Political uncertainty is a continuing challenge for foreign (as well as domestic) investors. Nepal’s ruling parties have spent much of their energy over the last years on internal political power struggles instead of governance, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“While fresh elections in November 2022, and a new government has raised hopes for political stability, this is not guaranteed. Political instability often engenders policy stagnation and uncertainty.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nevertheless, the report states that Nepal’s location between India and China presents opportunities for foreign investors. Nepal also possesses natural resources that have significant commercial potential.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower – Nepal has an estimated 40,000 megawatts (MW) of commercially-viable hydropower electricity generation potential, which could become a major source of income through electricity exports. Other sectors offering potential investment opportunities include agriculture, tourism, the ICT sector, and infrastructure. The tourism sector is recovering from the downturn due to the pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, Nepal offers opportunities for investors willing to accept the inherent risks and unpredictability of doing business in the country and who possess the resilience to invest with a long-term mindset. While Nepal has established some investment-friendly laws and regulations in recent years, significant barriers to investment remain, including the following reported by the business community:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A lack of understanding of international business standards and practices among the political and bureaucratic class, and a legal and regulatory regime that is not quite aligned with international practices also impede, hinder, and frustrate foreign investors, states the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “Elements of Nepal’s tax regime, in particular, may be inconsistent with international practices, and could trip-up foreign investors as has happened in two cases in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, immigration laws and visa policies for foreign workers are cumbersome. Inefficient government bureaucratic processes, a high rate of turnover among civil servants, and corruption exacerbate the difficulties for foreigners seeking to work in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s geography also presents challenges, adds the report. The country’s mountainous terrain, land-locked geography, and poor transportation infrastructure increases costs for raw materials and exports of finished goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade unions—each typically affiliated with parties or even factions within a political party—and unpredictable general strikes can create business risk, although this problem, once common, has diminished in recent years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the potential use of intimidation, extortion, and violence – including the use of improvised explosive devices – by insurgent groups targeting domestic political leaders, GoN entities, and businesses remains a source of potential instability, although this threat too has diminished in recent years (the country’s most prominent insurgent group—led by Netra Bikram Chand, also known as Biplav—agreed in March 2021, to enter peaceful politics, for example).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As Nepal has adopted a federal structure, new tax policies will be introduced at the local and regional levels, so there is a danger of investment being affected if double taxation is imposed, mentions the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is questionable how consistent Nepal's tax system is with international standards," the report said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dispute about the capital gains tax on the purchase and sale of ownership of Ncell, the decision made by the Nepalese court are presented as an example.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In 2019, a Malaysian company, Axiata (owner of NCell, the largest private telecom company in Nepal), was made to pay $450 million for alleged tax evasion over the 2016 transfer of NCell’s ownership from its previous owners, Swedish firm Telia Sonera. The Supreme Court’s verdict on this case has set the precedent for placing buyers on the hook for the tax liabilities of the sellers.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report further said that the US Embassy is aware of at least one U.S.-owned subsidiary in Nepal that is involved in a tax dispute with the GoN. Nepal’s Department of Revenue Investigation (DRI) has taken the company to court under the Income Tax Act 2002 and the Revenue Leakage (Investigation and Control) Act 1996. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current implication of these cases is that Nepal’s tax regime—particularly the above two Acts—needs to be carefully considered by foreign investors when buying/selling companies in Nepal to understand their local tax liabilities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18342', 'image' => '20230801115609_20160513034506_editor.jpg', 'article_date' => '2023-08-01 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18612', 'article_category_id' => '1', 'title' => 'NEA Under Pressure to Complete Bahrbise Substation', 'sub_title' => '', 'summary' => 'August 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.', '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 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.</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"">As the construction of the 102-megawatt Mid Bhotekoshi hydroelectric power plant in Sindhupalchowk under the ownership of Chilime Jaldyut Company has reached its final stage, the authority is under pressure to complete the construction of the substation to which the project will be connected to.</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 final phase of construction of the Mid Bhotekoshi will be completed within two months. The electricity generated from Mid Bhotekoshi will be connected to the Barhabise substation through a 220 kV transmission line. The project has already built towers of the transmission line from its power plant to the Barhabise substation, while the wire-pooling work is underway.</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 construction of the substation has been delayed due to the poor performance of the joint venture of the Chinese companies Guangxi Transmission and Substation Construction and Shenzhen Claw Electronics, which was awarded the contract for the construction of the Barhabise substation. </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 authority has warned the contractor that if the construction of the substation is not completed and the electricity of Mid Bhotekoshi cannot be connected, they will have to pay compensation. </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"">A high-level team of the authority, including Executive Director Kulman Ghising, Deputy Executive Director of Broadcasting Directorate Dirghayu Kumar Shrestha, and Deputy Executive Director of Project Management Directorate Tara Prasad Pradhan visited the substation construction site on Saturday.</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 team discussed with the project management and construction professionals the problems encountered in the construction, the condition of equipment supply, the construction completion schedule, among other issues.</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"">Executive Director Ghising said that the equipment for the substation, including the power transformer, has been brought to the construction site, and there is no reason for delaying the construction.</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"">“We are ready to facilitate the construction, and the construction should be completed within three months anyway. Otherwise, there may be a painful situation where Mid Bhotekoshi's electricity will be wasted, so let's all take this into consideration and work," he said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18341', 'image' => '20230801112547_NEA_20191104081559.jpg', 'article_date' => '2023-08-01 11:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18611', 'article_category_id' => '1', 'title' => 'Dengue Cases Surge in 10 Districts', 'sub_title' => 'Sunsari Accounts for More than Half of the Total Cases', 'summary' => 'August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The division’s Director Rudra Prasad Marasini informed RSS that 5,688 individuals have been infected by the disease across the country since last January. Among them, Sunsari district alone recorded 3,486 dengue cases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Marasini blamed people's recklessness behind the surge in infection. It has been raining continuously for some days and people have not paid attention to sanitation, thereby contributing to the alarming rise in spread of dengue, said Marasini. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As recent as a week back, there were only 4,619 cases of dengue in Nepal, but it ratcheted up quickly within a week, reaching 5,688. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue is caused by Aedes aegypti and Aedes albopictus species of mosquito. They lay eggs on clean water. The eggs turn into larva and larva to adult mosquito. Bite of such mosquito is dreadful, for it causes the dengue infection. So, puddle must be removed around houses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>10 districts most affected </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The state-owned RSS reported that Sunsari, Dhading, Kaski, Darchula, Kathmandu, Sankhuwasabha, Myagdi, Morang, Kanchanpur and Jhapa are the most affected districts. Sunsari alone has 3,486 cases while Kathmandu 96 and Jhapa 56. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Koshi Province is the most affected state with 3,821 dengue cases while Madhes Province has the least number with 26 patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the RSS, four persons have lost their lives to dengue fever since last January in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>First case in Nepal</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the available data, 32 infection cases were recorded in 2006 AD, 917 in 2010 AD, 686 in 2013 AD, 1,527 in 2016 AD, 2,111 in 2017 AD, 811 in 2018 AD, 17,992 in 2019 AD, 530 in 2020 AD and 540 in 2021 AD .</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Climate change</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to government officials, dengue patients have also been detected in Humla, Jumla, Mugu and Dolpa in recent years</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue Control Source Person and vector control officer Shyam Lal Acharya said mountainous region is becoming favourable for lifecycle of mosquitoes. Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18340', 'image' => '20230801104315_dengue-test_650x400_61442241844.jpg', 'article_date' => '2023-08-01 10:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', '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 2: Altogether 57,726 tourists visited Nepal via the air route in the month of July. The number of tourists visiting Nepal has been increasing with the decline in coronavirus infection.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to Nepal Tourism Board (NTB), </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">357</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived here from India, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">693</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from China and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">561</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> from America in July. </span></span></span></span></p> <p><span style="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 number of tourists visiting Nepal in July this year is more than the number of visitors in the corresponding month of last year. In July last year, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">44</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">462</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists had arrived in Nepal. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, the number of tourists coming to Nepal from SAARC countries is more than that from other countries. In July, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">25</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">714</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> tourists arrived in Nepal from SAARC countries including India, Bangladesh, Sri Lanka, Pakistan and Bhutan.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A total 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"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">183 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists visited Nepal from Asia including China, Japan, Malaysia, Singapore, South Korea, Myanmar and Thailand, and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">8</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">965 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from European countries including France, Denmark, Germany, and the UK.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Similarly, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">214 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists arrived here from the Americas, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">1</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">213 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Oceania and </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">373 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">from Central Asia. Apart from these, </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">,0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">64 </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">tourists from other countries also visited Nepal in the review month, according to the data provided by the board.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif""> ।</span></span></span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18355', 'image' => '20230802110214_Tourist.jpg', 'article_date' => '2023-08-02 11:01:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18625', 'article_category_id' => '1', 'title' => 'FNCCI Seeks Assistance from IFC for Infrastructure Development ', 'sub_title' => '', 'summary' => 'August 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. ', '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 2: he Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has urged the International Finance Corporation (IFC) to assist Nepal to find a way out of the existing economic challenges and to enhance its financial accessibility. </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 FNCCI stated that the support and cooperation from the IFC was necessary to promote small and medium-scale industries in Nepal, to promote infrastructure development and to see the improved investment status. </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 a meeting with Susan M Lund, IFC vice president for Economics and Private Sector Development, FNCCI President Chandra Prasad Dhakal urged for the assistance from the IFC to promote the economic environment in the country. </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"">"Nepal is currently grappling with economic issues primarily due to challenges in managing the post-COVID-19 situation. The government and the mass as well have been affected by the economic slowdown, particularly the private sector," 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"">The government's revenue decreased by around 13 percent and people's purchasing power has declined due to increasing inflation, he added. </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"">In response, the IFC Vice President said they were ready to cooperate with the FNCCI for the promotion of the private sector. </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"">As the IFC, World Bank Group claims, it is the largest global development institution focused on the private sector in developing countries. </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 FNCCI with the collaboration of the Corporation had organized a report on the contribution of the private sector in the economy and a conference of small and middle-scale entrepreneurs.</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 the occasion, Senior Vice-President of FNCCI, Anjan Shrestha, pointed out the need of making the market dynamic as most of the industries are in operation at low capacity. </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, Vice-Presidents—Hemraj Dhakal and Jyotsana Shrestha shared that improvement in the tax system was necessary for Nepal.</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"">President of the Investment and International Affairs Forum of FNCCI, Manoj Poudel, stressed on policy-level reforms for investment expansion, according to FNCCI. -- RSS</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""> <br /> </span></span></p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18354', 'image' => '20230802103428_1690948464.ifccccccccccccc.jpg', 'article_date' => '2023-08-02 10:33:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18624', 'article_category_id' => '1', 'title' => 'NOC Hikes Prices of Petroleum Products', 'sub_title' => '', 'summary' => 'Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 2: Nepal Oil Corporation(NOC) has hiked prices of petroleum products in the country. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">While prices of petrol and diesel have increased, NOC has slashed the price of LP gas cylinders. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The state-owned Nepal Oil Corporation (NOC) has implemented these changes, which came into effect from 12:00 midnight on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">NOC has increased petrol prices by Rs 9 per liter and prices of kerosene and diesel by Rs 7 per liter. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Following the price adjustment, a liter of petrol costs Rs 170 in Group A, Rs 172 in Group B, Rs 173 in Group C. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Similarly, diesel and kerosene prices will stand at Rs 150 per liter in Group A, Rs 152 per liter in Group B, and Rs 153 per liter in Group C.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">However, the cost of LP gas cylinders has decreased, with a reduction of Rs 130 per cylinder. Consequently, the price for an LP gas cylinder will now stand at Rs 1,660.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-02', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18353', 'image' => '20230802060357_collage (5).jpg', 'article_date' => '2023-08-02 06:02:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18623', 'article_category_id' => '1', 'title' => 'Nepal’s Exports Declined by over 21 Percent in FY 2022-23 ', 'sub_title' => '', 'summary' => 'August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: The data about Nepal's exports in the last fiscal year was not encouraging despite the government efforts to promote the export trade. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">During the fiscal year 2022-23, Nepal's exports rate saw a decline of 21.4 percent. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Ministry of Industry, Commerce and Supplies, Nepal's total commodity exports amounted to Rs 157 billion during the last fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In a meeting of the Industry, Commerce and Labour and Consumers' Welfare Committee under the House of Representatives on Tuesday, commerce and supplies secretary Madhu Kumar Marasini said there was also a 16.1 percent drop in total imports last fiscal year. Nepal imported commodities worth Rs 1,611 billion in the review year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's total foreign trade also witnessed a fall last year. The country recorded foreign trade equivalent to Rs 1,786 billion which is less by 16.6 percent compared to the previous year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The assessment of primary data of the last fiscal year shows that the contribution of exports to the total trade is 8.9 percent followed by 91 percent imports. </span></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"">In the fiscal year 2021-22, the export-import ratio was 1: 9.6 and it reached 1:10 last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18352', 'image' => '20230801081652_20180205113518_Clipboard46.jpg', 'article_date' => '2023-08-01 20:16:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '18622', 'article_category_id' => '1', 'title' => 'InDrive Founder Tomsky Releases his Book "inDriver: from Siberia to Silicon Valley" in Nepali', 'sub_title' => '', 'summary' => 'Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">August 1: Arsen Tomsky, the visionary founder and CEO of inDrive, a widely acclaimed mobility app, released his book "inDriver: from Siberia to Silicon Valley" in Nepali.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">The book unveiling took place at the Kathmandu Marriott on Tuesday, where Tomsky presented the translated version of his book in the native language.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">During the event, Tomsky expressed his excitement about the book now being available in three languages: English, Portuguese, and Nepali. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky said that his goal is to reach a diverse audience worldwide, enabling them to comprehend his remarkable journey and growth of inDrive from its inception to expanding operations across 45 countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Addressing the gathering, Tomsky revealed the motivation behind penning down his experiences. “I aim to inspire youths globally by sharing my real-life experiences through the pages of "inDriver: from Siberia to Silicon Valley”, said Tomsky. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">"I decided to have the book translated into Nepali to motivate young minds in Nepal, particularly those in the tech sphere, to venture into entrepreneurship. I firmly believe that resources are ubiquitous, and as a tech student, I kickstarted the inDrive platform with whatever resources were at my disposal," Tomsky emphasized.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Tomsky also expressed his deep attachment to developing nations, their ambitious youth, and the transformative power of technology. He believes in harnessing technology to drive positive change and uplift communities.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">inDrive made informal inroads into Nepal last year, capturing the hearts of Nepali youth with its user-friendly and reliable services. The mobility company now operates in 45 countries and is in the process of formalizing its operations in Nepal.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">Globally, inDrive stands as the second-largest mobility company after Uber. Yet, Tomsky envisions even greater accomplishments in the future. His ambitious dream includes establishing a university by 2040, symbolizing the organization's commitment to knowledge, innovation, and education.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:14.0pt">It all began in 2012 when Tomsky founded inDrive in his hometown, Siberia. Since then, his determination and vision have steered the company towards global success.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-02', 'keywords' => '', 'description' => '', 'sortorder' => '18351', 'image' => '20230801070947_collage (6).jpg', 'article_date' => '2023-08-01 19:08:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18621', 'article_category_id' => '1', 'title' => 'Pharping Hydropower Station to Be Developed as Energy Museum', 'sub_title' => '', 'summary' => 'Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: Pharping Hydropower Station, the first hydropower project in Nepal and the second one in Asia, is set to be developed as the Energy Museum. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The Nepal Electricity Authority (NEA) is going to develop the 500 KW-Pharping Hydropower Station as the energy museum.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The NEA has been preparing the master plan by appointing NEA Engineering Company as the consultant in order to develop the station as the tourism site.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The old structures would be renovated and new structures constructed at unoccupied land linking the historic hydropower station with tourism, according to the NEA. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Different structures including a park, a restaurant, shops, zipline, picnic spot, library and children's park would be constructed at the land of Station's reservoir and powerhouse area located at Dakshinkali municipality of Kathmandu. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">A plan has been set to develop the structures of the hydropower station as the museum by carrying out renovation. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">It is estimated that it would take around one billion rupees for the implementation of the master plan prepared by the consultant. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The station has 324 ropanis of land under its ownership. Forty-six ropanis of land of reservoir area and around 146 ropanis of land of powerhouse area would be used for the construction of tourism structures.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister for Energy, Water Resources and Irrigation, Shakti Bahadur Basnet, who arrived in Pharping to participate in sapling plantation programme organised on Monday at the premises of Pharping Hydropower Station on the occasion of the 38th anniversary of NEA, was briefed about the master plan.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet, Energy Secretary Dinesh Kumar Ghimire, NEA Managing Director Kul Man Ghising, among others observed the condition of different structures including the powerhouse. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18350', 'image' => '20230801061252_collage (5).jpg', 'article_date' => '2023-08-01 18:11:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 6 => array( 'Article' => array( 'id' => '18620', 'article_category_id' => '1', 'title' => 'World Bank Reaffirms Commitment to Support Nepal's Health System', 'sub_title' => '', 'summary' => 'The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">August 1: The World Bank has reaffirmed its commitment to support Nepal in improving its health system. Faris Hadad-Zervos, the World Bank Country Director for Nepal, made this assurance during a meeting with Nepal's Health and Population Minister, Mohan Bahadur Basnet.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">During the meeting, Minister Basnet praised the World Bank for its cooperation in various sectors of Nepal and requested further financial and technical assistance in the future.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Country Director Zervos informed that the World Bank has been consistently providing support for Nepal's health sector. The bank has planned to offer a loan assistance of 100 million USD and a grant aid of 3.84 million USD for the health sector over the next five years. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The approval process for this assistance is currently underway with the Council of Ministers.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Zervos expressed the World Bank's happiness in collaborating to improve Nepal's health system, and he pledged to continue supporting Nepal during other epidemics, similar to the assistance provided during the COVID-19 pandemic. The World Bank had extended support during the pandemic by providing vaccines as grants.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">Minister Basnet shared that a portion of the money received from the World Bank during the COVID-19 pandemic was saved, and the Ministry has initiated the necessary steps to spend the remaining amount on its own. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,sans-serif"><span style="font-size:16.0pt">The surplus amount, initially sent to the Finance Ministry, will now be redirected back to the Ministry of Health for addressing potential disease outbreaks like dengue and funding other sectors. Approximately Rs 1 billion was saved from the World Bank's assistance during the COVID-19 pandemic. (RSS)</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18349', 'image' => '20230801050106_collage (4).jpg', 'article_date' => '2023-08-01 16:59:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18619', 'article_category_id' => '1', 'title' => 'TEAM Ventures Concludes Partial Exit from Foodmandu with 2x Returns', 'sub_title' => '', 'summary' => 'August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">August 1: TEAM Ventures, an alternative investment firm based in Kathmandu, has successfully concluded a partial exit from Foodmandu through the sale of equity to Himalayan Capital Limited, the company said on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement on Monday, TEAM Ventures said that the partial exit from Foodmandu resulted in two fold returns for the firm in a short time span of two years.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">TEAM Ventures claimed that the firm’s strategic investment facilitated Foodmandu’s exponential expansion of its customer and restaurant base as well as geographic expansion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Foodmandu, Nepal’s largest food delivery company established in 2010, received Aeries A funding through True North Associates in 2016 and Series B funding from TEAM Ventures in 2020, added the statement.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In 2023, Dolma Impact Fund II further invested US$ 4 million in Series C funding, the firm said in the statement.</span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18348', 'image' => '20230801033606_IMG-20230731-WA0001.jpg', 'article_date' => '2023-08-01 15:35:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18618', 'article_category_id' => '1', 'title' => 'Investment in Tile Industry Increasing', 'sub_title' => '', 'summary' => 'August 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.', '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 1: The tradition of using floor tiles extensively in Nepal is believed to have started only a decade ago.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The businessmen who have been working in this field say that the use and demand of tiles is increasing both for residential and official buildings.</span></span></span></span></p> <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 data of the Department of Customs, Nepal imported tiles worth more than Rs 10 billion in the fiscal year (FY) 2078/79. </span></span></span></span></p> <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, a large amount of ceramic tiles are imported from India and China. Tiles are also imported from Indonesia, Malaysia, Vietnam, Bangladesh, Spain and other countries. The data indicates good prospects for the future of the tile industry in the country.</span></span></span></span></p> <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"">Based on this assessment, businessmen have started investing in such industries. Some of the industries are operational and some are under construction. According to the Department of Industry, the process of registration of new tiles industry is also underway.</span></span></span></span></p> <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 tiles industry of Prime Ceramics Pvt Ltd has come into operation recently. The company has been producing and selling tiles from a factory spread over an area of 10 bighas of land located in Brindavan Municipality-6 of Rautahat for about one month.</span></span></span></span></p> <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 company, the latest Italian technology has been installed in the factory. It is fully automatic. The company has invested Rs 25 million just for land. The company says that it has invested Rs 2 billion in total for land purchased and equipment. </span></span></span></span></p> <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 industry has given employment opportunities for the local residents as well as workers from neighboring districts and neighboring India.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Pradeep Kumar Jha, the general manager of the company, said that although the target of the industry is to produce tiles of 11 different sizes, they are currently producing 5 different sizes of tiles.</span></span></span></span></p> <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"">"</span></span><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The production capacity is 150,000 square feet of tiles per day," Jha said. "The industry will run in full capacity within the next six months, which will create more jobs." </span></span></span></span></p> <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 industry has given employment to 300 people. Jha said that customers in Nepal can avail domestically produced tiles at 20 to 25 percent cheaper than the tiles coming from the international market.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The industry is currently sending three truckloads of tiles to the market daily. According to Jha, 45 percent of the production goes to Kathmandu. Jha says that Kathmandu Valley is the main market at present. The rest of the production is being sent to other cities in the country.</span></span></span></span></p> <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 industry, which is thinking of exporting its product to India as well, has filed an application with the Department of Mines and Geology seeking for permission to use the red clay as a raw material. According to Jha, the industry is using most of the raw materials from 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"">The industry is producing tiles in two dozen colors. General Manager Jha also claimed that their products are of high quality and have the ability to compete with international brands.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18347', 'image' => '20230801032047_1690858902.2023-08-01 08.46.31.jpg', 'article_date' => '2023-08-01 15:20:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18617', 'article_category_id' => '1', 'title' => '‘Govt-Private Sector Collaboration a Must for Self-Reliant Economy’', 'sub_title' => '', 'summary' => 'August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Chief Secretary Dr Baikuntha Aryal has said collaboration and cooperation between government and private sector helps foster economic activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Releasing a book entitled 'Self Reliant Economy and Export Potential' during a programme organized jointly by the Confederation of Bank and Financial Institutions of Nepal (CBFIN), and Federation of Nepal Exports' Association on Monday, Chief Secretary Aryal said promotion of exports is essential to build a self-reliant economy. </span></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"">“Once exportable goods are produced, there would not be problem in marketing,” he assured. </span></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"">The chief secretary said that the establishment of export house for export promotion was a laudable initiative, and assured of assistance from government side as well. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Secretary at Foreign Ministry, Bharat Raj Paudel, said that the book shall serve as a good guide on how the Nepali products could be exported.</span></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"">“Quality must be ensured in such products for foreign supply,” he told the entrepreneurs. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the foreign secretary, Nepali diplomatic missions abroad could help promote exports for which the Foreign Ministry is ready to facilitate. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, Secretary at the Ministry of Industry, Commerce and Supplies, Madhu Kumar Marasini, said that the government has been identifying the goods that can be exported. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Businesspersons including Bhawani Rana and Kamalesh Kumar Agrawal also underscored the need for augmenting exports of Nepal's original products to meet the sustainable development goals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">CBFIN Chairman Pawan Kumar Golyan said export promotion cold help generate jobs within home and reduce trade loss as well. Nepal's original products could be promoted for exports so that the country could create 800,000 jobs in two years. </span></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"">The book coauthored by Dr Gopal Prasad Tiwari, Uttam Prasad Gautam and Krishna Raj Bajgain has enlisted the exportable Nepali products as handmade paper, allo, cumin, cardamom, medicinal herbs, turmeric and basket. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18346', 'image' => '20230801012541_ppp.jpg', 'article_date' => '2023-08-01 13:24:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18615', 'article_category_id' => '1', 'title' => 'Govt's Restrictive Policies Stifling Trade and Industry: Private Sector', 'sub_title' => '', 'summary' => 'August 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.', '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 1: The private sector has complained that due their business is in crisis due to the restrictive policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">They have alleged that the government authorities have been giving them unnecessary hassles in the name of facilitating foreign trade and also due to needless investigations.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Entrepreneurs claim that the government is creating obstacles in the business through policy intervention while the officials at the implementation level have made the things more problematic by indulging in corruption.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Representatives of the Madhes Province chapter of the Federation of Nepalese Chamber of Commerce and Industry (FNCCI) said during an interaction with the customs officials of Birgunj on Sunday that the industrialists and traders are now unable to do business. </span></span></span></span></p> <p><span style="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 officials of Birgunj customs who attended the interaction clarified that their main objective is trade facilitation. They said that they are looking forward to solving the problems faced during the implementation of policies related to import and export.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ashok Kumar Temani, president of the Madhesh chapter of the FNCCI, emphasized that foreign trade procedures should be transparent. Online and automated systems should be encouraged to promote transparency, he said. “Integrating the software of the integrated check posts of Nepal and India can also help in this," said Temani.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Temani complained that despite the implementation of VCTS by the Revenue Investigation Department to control revenue leakage by making foreign trade transparent and dignified, the work of stopping vehicles in the name of investigation has not been stopped. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ganesh Prasad Lath, outgoing president of FNCCI Madhesh Province, said that trade and industry have become overburdened by one after another policy introduced by the government.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">He claimed that the government's strict policies and regulations have promoted unauthorized trade. Participating entrepreneurs complained that the private sector has been hurt by the government's labeling system, customs assessment and revenue investigation raids implemented on imported goods since the beginning of the current fiscal year</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Chief Customs Administrator of Birgunj Customs, Dilaram Panthi said that an arrangement to keep a label on the imported goods with the details of the manufacturer and distributor was introduced for controlling unauthorized imports. </span></span></span></span></p> <p><span style="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 aim of any policy and rule brought by the government is to facilitate business. If there is a problem in its implementation, a solution should be found," 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:"Arial","sans-serif"">He also said that there is a need for coordination and cooperation between the private sector and customs officials for procedural reform.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Birgunj Dry Port Customs Chief Ram Mainali said that customs assessment should be made scientific. He added that the problems encountered in the implementation of labels on imported goods will be addressed after the implementation of the procedure. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18344', 'image' => '20230801012238_1690798775.BIRGUNG.jpg', 'article_date' => '2023-08-01 13:21:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18614', 'article_category_id' => '1', 'title' => '16th Periodic Plan to Focus on Good Governance, Social Justice and Prosperity', 'sub_title' => '', 'summary' => 'August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">August 1: Good governance, social justice and prosperity are the major focuses of the government in the forthcoming 16th periodic plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The plan is to ensure social justice in health, education, employment and housing while good governance in political, administrative and judicial fronts, according to the National Planning Commission, the government body responsible for the planning. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:18px"><span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, prosperity in social life, economic development and national economy are key issues, NPC Vice Chairman Dr Min Bahadur Shrestha said, adding, "All levels of government and stakeholders need to build capacity for smooth and effective coordination and collaboration so that the plan would be implemented in a result-oriented manner." </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 16th periodic plan will identify and address the structural barriers surfaced in the strategic development endeavours, he said, adding that that efforts of self-reliance in agricultural production, export promotion, development of tourism and industries, power trade, irrigation expansion, establishment of metal industry, complete use of labour force would help achieve national development and prosperity. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, reform in service delivery, infrastructure development, strengthening of economic foundation and creation of decent and inclusive employment, quality education, urban management, social empowerment, social security, capacity enhancement on capital spending are other important areas included in the plan. -- RSS</span><br /> </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18343', 'image' => '20230801125035_20230703105203_image.jpg', 'article_date' => '2023-08-01 12:49:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18613', 'article_category_id' => '1', 'title' => 'US Report Identifies Corruption and Political Instability as Major Obstacles for Investment in Nepal', 'sub_title' => '', 'summary' => 'August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: Nepal has not yet become a completely investment-friendly country, according to a recent report prepared by the US Department of State. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite considerable potential – particularly in the energy, tourism, information and communication technology (ICT), infrastructure and agriculture sectors – political instability, widespread corruption, cumbersome bureaucracy, and inconsistent implementation of laws and regulations have deterred potential investment, reads the 2023 Investment Climate Statement issued by the US Department of State.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report has mentioned political instability as a major obstacle to investment. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The COVID pandemic coupled with a fresh bout of political instability slowed reform efforts that might have made Nepal a more attractive investment destination. While the Government of Nepal (GoN) publicly states its keenness to attract foreign investment, this has yet to translate into meaningful practice. Despite these challenges, foreign direct investment (FDI) into the country has been increasing in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report further states that corruption, laws limiting the operations of foreign banks, lingering challenges in the repatriation of profits, controlled currency exchange facilities, prohibition of FDI in certain sectors as well as a minimum foreign investment threshold of NPR 20 million (USD 154,000), and the government’s monopoly over certain sectors of the economy (such as electricity transmission and petroleum distribution), undermine foreign investment in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Political uncertainty is a continuing challenge for foreign (as well as domestic) investors. Nepal’s ruling parties have spent much of their energy over the last years on internal political power struggles instead of governance, added the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“While fresh elections in November 2022, and a new government has raised hopes for political stability, this is not guaranteed. Political instability often engenders policy stagnation and uncertainty.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nevertheless, the report states that Nepal’s location between India and China presents opportunities for foreign investors. Nepal also possesses natural resources that have significant commercial potential.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hydropower – Nepal has an estimated 40,000 megawatts (MW) of commercially-viable hydropower electricity generation potential, which could become a major source of income through electricity exports. Other sectors offering potential investment opportunities include agriculture, tourism, the ICT sector, and infrastructure. The tourism sector is recovering from the downturn due to the pandemic.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, Nepal offers opportunities for investors willing to accept the inherent risks and unpredictability of doing business in the country and who possess the resilience to invest with a long-term mindset. While Nepal has established some investment-friendly laws and regulations in recent years, significant barriers to investment remain, including the following reported by the business community:</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">A lack of understanding of international business standards and practices among the political and bureaucratic class, and a legal and regulatory regime that is not quite aligned with international practices also impede, hinder, and frustrate foreign investors, states the report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> “Elements of Nepal’s tax regime, in particular, may be inconsistent with international practices, and could trip-up foreign investors as has happened in two cases in recent years.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, immigration laws and visa policies for foreign workers are cumbersome. Inefficient government bureaucratic processes, a high rate of turnover among civil servants, and corruption exacerbate the difficulties for foreigners seeking to work in Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s geography also presents challenges, adds the report. The country’s mountainous terrain, land-locked geography, and poor transportation infrastructure increases costs for raw materials and exports of finished goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Trade unions—each typically affiliated with parties or even factions within a political party—and unpredictable general strikes can create business risk, although this problem, once common, has diminished in recent years.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the report, the potential use of intimidation, extortion, and violence – including the use of improvised explosive devices – by insurgent groups targeting domestic political leaders, GoN entities, and businesses remains a source of potential instability, although this threat too has diminished in recent years (the country’s most prominent insurgent group—led by Netra Bikram Chand, also known as Biplav—agreed in March 2021, to enter peaceful politics, for example).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As Nepal has adopted a federal structure, new tax policies will be introduced at the local and regional levels, so there is a danger of investment being affected if double taxation is imposed, mentions the report. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"It is questionable how consistent Nepal's tax system is with international standards," the report said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The dispute about the capital gains tax on the purchase and sale of ownership of Ncell, the decision made by the Nepalese court are presented as an example.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“In 2019, a Malaysian company, Axiata (owner of NCell, the largest private telecom company in Nepal), was made to pay $450 million for alleged tax evasion over the 2016 transfer of NCell’s ownership from its previous owners, Swedish firm Telia Sonera. The Supreme Court’s verdict on this case has set the precedent for placing buyers on the hook for the tax liabilities of the sellers.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> The report further said that the US Embassy is aware of at least one U.S.-owned subsidiary in Nepal that is involved in a tax dispute with the GoN. Nepal’s Department of Revenue Investigation (DRI) has taken the company to court under the Income Tax Act 2002 and the Revenue Leakage (Investigation and Control) Act 1996. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current implication of these cases is that Nepal’s tax regime—particularly the above two Acts—needs to be carefully considered by foreign investors when buying/selling companies in Nepal to understand their local tax liabilities.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18342', 'image' => '20230801115609_20160513034506_editor.jpg', 'article_date' => '2023-08-01 11:55:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18612', 'article_category_id' => '1', 'title' => 'NEA Under Pressure to Complete Bahrbise Substation', 'sub_title' => '', 'summary' => 'August 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.', '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 1: The Nepal Electricity Authority (NEA) is under pressure to complete the construction of the 220 kV substation which is under construction at Barhabise in Sindhupalchok district.</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"">As the construction of the 102-megawatt Mid Bhotekoshi hydroelectric power plant in Sindhupalchowk under the ownership of Chilime Jaldyut Company has reached its final stage, the authority is under pressure to complete the construction of the substation to which the project will be connected to.</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 final phase of construction of the Mid Bhotekoshi will be completed within two months. The electricity generated from Mid Bhotekoshi will be connected to the Barhabise substation through a 220 kV transmission line. The project has already built towers of the transmission line from its power plant to the Barhabise substation, while the wire-pooling work is underway.</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 construction of the substation has been delayed due to the poor performance of the joint venture of the Chinese companies Guangxi Transmission and Substation Construction and Shenzhen Claw Electronics, which was awarded the contract for the construction of the Barhabise substation. </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 authority has warned the contractor that if the construction of the substation is not completed and the electricity of Mid Bhotekoshi cannot be connected, they will have to pay compensation. </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"">A high-level team of the authority, including Executive Director Kulman Ghising, Deputy Executive Director of Broadcasting Directorate Dirghayu Kumar Shrestha, and Deputy Executive Director of Project Management Directorate Tara Prasad Pradhan visited the substation construction site on Saturday.</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 team discussed with the project management and construction professionals the problems encountered in the construction, the condition of equipment supply, the construction completion schedule, among other issues.</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"">Executive Director Ghising said that the equipment for the substation, including the power transformer, has been brought to the construction site, and there is no reason for delaying the construction.</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"">“We are ready to facilitate the construction, and the construction should be completed within three months anyway. Otherwise, there may be a painful situation where Mid Bhotekoshi's electricity will be wasted, so let's all take this into consideration and work," he said.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18341', 'image' => '20230801112547_NEA_20191104081559.jpg', 'article_date' => '2023-08-01 11:25:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18611', 'article_category_id' => '1', 'title' => 'Dengue Cases Surge in 10 Districts', 'sub_title' => 'Sunsari Accounts for More than Half of the Total Cases', 'summary' => 'August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">August 1: More than 5,000 people have been infected with dengue virus in the country. Sunsari district alone has more than half of those patients, according to the Epidemiology and Disease Control Division. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The division’s Director Rudra Prasad Marasini informed RSS that 5,688 individuals have been infected by the disease across the country since last January. Among them, Sunsari district alone recorded 3,486 dengue cases. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Marasini blamed people's recklessness behind the surge in infection. It has been raining continuously for some days and people have not paid attention to sanitation, thereby contributing to the alarming rise in spread of dengue, said Marasini. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As recent as a week back, there were only 4,619 cases of dengue in Nepal, but it ratcheted up quickly within a week, reaching 5,688. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue is caused by Aedes aegypti and Aedes albopictus species of mosquito. They lay eggs on clean water. The eggs turn into larva and larva to adult mosquito. Bite of such mosquito is dreadful, for it causes the dengue infection. So, puddle must be removed around houses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>10 districts most affected </strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The state-owned RSS reported that Sunsari, Dhading, Kaski, Darchula, Kathmandu, Sankhuwasabha, Myagdi, Morang, Kanchanpur and Jhapa are the most affected districts. Sunsari alone has 3,486 cases while Kathmandu 96 and Jhapa 56. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Koshi Province is the most affected state with 3,821 dengue cases while Madhes Province has the least number with 26 patients. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the RSS, four persons have lost their lives to dengue fever since last January in Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>First case in Nepal</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue was first detected in Nepal in the year 2004. Cases of dengue fever increased in 2006, 2010, 2012, 2013, 2017 and 2019.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> According to the available data, 32 infection cases were recorded in 2006 AD, 917 in 2010 AD, 686 in 2013 AD, 1,527 in 2016 AD, 2,111 in 2017 AD, 811 in 2018 AD, 17,992 in 2019 AD, 530 in 2020 AD and 540 in 2021 AD .</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><strong>Climate change</strong></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The mosque-transmitted disease which was mostly found in Terai-Madhes has also been increasingly detected in mountainous cities, including Pokhara and Kathmandu since 2018. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With the rise in mercury level in mountainous region due to climate change, dengue cases have been detected in places where it was never reported before. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to government officials, dengue patients have also been detected in Humla, Jumla, Mugu and Dolpa in recent years</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Dengue Control Source Person and vector control officer Shyam Lal Acharya said mountainous region is becoming favourable for lifecycle of mosquitoes. Acharya requested all to adopt precaution as dengue-carrying mosquitoes are active till mid-October.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-08-01', 'modified' => '2023-08-01', 'keywords' => '', 'description' => '', 'sortorder' => '18340', 'image' => '20230801104315_dengue-test_650x400_61442241844.jpg', 'article_date' => '2023-08-01 10:42:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
