July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and…
July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and…
July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly.…
In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign…
Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year…
The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation…
July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported…
July 28: The loanable funds of banks has reached almost Rs 400 billion.…
July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the…
July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air…
July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday…
July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in…
July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years.…
July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed…
July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer…
July 27: An Indian national has been arrested on the charged of being involved in a bank…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', '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"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <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 kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <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"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <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"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <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"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </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"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </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"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </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""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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"">July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Madan Lamsal and Om Prakash Khanal</span></span></span></span></p> <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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</span></span></span></span></p> <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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</span></span></span></span></p> <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"">IPPAN President Karki says that production is the primary condition for 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:"Nirmala UI","sans-serif"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</span></span></span></span></p> <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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <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"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</span></span></span></span></p> <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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</span></span></span></span></p> <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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </span></span></span></span></p> <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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <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"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </span></span></span></span></p> <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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by 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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</span></span></span></span></p> <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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on 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:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</span></span></span></span></p> <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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land 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"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</span></span></span></span></p> <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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </span></span></span></span></p> <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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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"">July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', '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"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <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 kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <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"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <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"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <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"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </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"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </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"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </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""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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"">July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Madan Lamsal and Om Prakash Khanal</span></span></span></span></p> <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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</span></span></span></span></p> <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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</span></span></span></span></p> <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"">IPPAN President Karki says that production is the primary condition for 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:"Nirmala UI","sans-serif"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</span></span></span></span></p> <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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <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"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</span></span></span></span></p> <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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</span></span></span></span></p> <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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </span></span></span></span></p> <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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <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"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </span></span></span></span></p> <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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by 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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</span></span></span></span></p> <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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on 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:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</span></span></span></span></p> <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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land 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"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</span></span></span></span></p> <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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </span></span></span></span></p> <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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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"">July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', '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
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', '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"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <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 kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <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"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <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"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <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"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </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"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </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"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </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""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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"">July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Madan Lamsal and Om Prakash Khanal</span></span></span></span></p> <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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</span></span></span></span></p> <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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</span></span></span></span></p> <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"">IPPAN President Karki says that production is the primary condition for 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:"Nirmala UI","sans-serif"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</span></span></span></span></p> <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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <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"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</span></span></span></span></p> <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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</span></span></span></span></p> <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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </span></span></span></span></p> <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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <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"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </span></span></span></span></p> <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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by 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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</span></span></span></span></p> <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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on 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:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</span></span></span></span></p> <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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land 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"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</span></span></span></span></p> <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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </span></span></span></span></p> <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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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"">July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', '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
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 133]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '18592', 'article_category_id' => '1', 'title' => 'Beware of Fake Assurance of Employment in Thailand and Myanmar: Foreign Ministry ', 'sub_title' => '', 'summary' => 'July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 30: The Ministry of Foreign Affairs has cautioned everyone to be aware of false assurance and lure of employment in Thailand and Myanmar. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a press statement on Friday, the ministry urged all not to be swayed by the false assurance of attractive job in IT sector in Thailand and Myanmar because the Nepalis were found taken hostage in Kayin Province of Myanmar and forced to be involve in illegal activities. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry said that Nepali citizens were lured in foreign job by assuring them hefty amount but were forcefully involved in the activities prohibited by Nepal government as per the existing law. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis have been requested not to visit abroad on tourist and visit visa while going for employment. A legal labour permit is essential to go abroad for job, the ministry cautioned. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Foreign Ministry, the fraudsters had seized passports of the Nepali citizens on the pretext of taking them to Myanmar from Thailand in an illegal way. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Nepalis falling victims to such fraudsters are requested to communicate with the ministry at the emails eonbangkok@mofa.gov.np; eonyangon@mofa.gov.np; or call at +66-869915554, +95-1-545880 and +95-1-557168. Similarly, they can contact the Embassy of Nepal in Bangkok, Embassy of Nepal in Yangon Myanmar, the ministry added. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18321', 'image' => '20230730121031_MOFA.jpg', 'article_date' => '2023-07-30 12:09:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18591', 'article_category_id' => '1', 'title' => 'Imports of Fuel-Powered Vehicles Declines', 'sub_title' => '', 'summary' => 'July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. ', '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"">July 30: The import of luxury vehicles from Birgunj, the country's main trading point, has decreased significantly. While the import of fuel-powered jeep, cars and vans has decreased, the import of electric vehicles has increased.</span></span></span></span></p> <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 kept by the Birgunj Customs Office on its website, the import of vehicles such as jeeps, cars and vans decreased in the last fiscal year (FY 2022/23) compared to the FY 2021/22.</span></span></span></span></p> <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"">Birgunj Customs Officer Ram Chandra Dhakal informed that 1,110 four wheelers including jeeps, cars and vans entered through this checkpoint last year. This number was 5,674 the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs officials, the import has decreased because the government had banned the import of vehicles last year because of the decline in foreign exchange reserves. </span></span></span></span></p> <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"">Although the government has lifted the restrictions, imports have not increased. Due to the lack of demand in the market and the reluctance of banks to invest in the automobile sector, the import of vehicles has not increased despite the lifting of the ban, according to the traders.</span></span></span></span></p> <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"">On the other hand, the import of electric vehicles has increased. In the last fiscal year, the import of EVs increased by 127 percent. In the review year, 361 such vehicles were imported into the country. The number was 159 in the previous year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Meanwhile, the import of unassembled motorcycles has increased after the motorcycle assembling plant started operating in the country last year. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the customs office, 25,248 units of unassembled motorcycles were imported in the year 2021/22, while this number decreased to 18,333 in the last year. Imports of pickups vans, trucks-buses, ready-made motorcycles, vehicle parts, etc also seem to have decreased.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18320', 'image' => '20230730114154_nada.jpg', 'article_date' => '2023-07-30 11:40:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18590', 'article_category_id' => '1', 'title' => '322 Industries Registered with Department of Industry in FY 2022/2023', 'sub_title' => '', 'summary' => 'In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 29: In the fiscal year 2022/2023(2079/80), a total of 322 industries were registered with the Department of Industry. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">According to the progress report of the last fiscal year released by the department, 322 industries were registered, including both domestic and foreign industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These registered industries proposed a total investment of Rs 214 billion. The department stated that newly-registered industries would create 23,324 jobs. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Among the registered industries, 66 are large-scale industries, 70 medium-scale industries, and 186 small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">As per the Industrial Enterprise Act, 2076, industries with a stable(fixed) capital of over Rs 500 million are categorized as large-scale, those with a fixed capital between Rs 150 million to Rs 500 million are classified as medium-scale, and those with a capital of up to Rs 150 million are categorized as small and cottage industries.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the Department of Industry, five patents and 18 designs were registered in the last year. Similarly, the number of registered trademarks reached 3,254. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In the last one year, the department took action against 150 companies on cases related to trademark. Additionally, 82 Initial Environmental Examinations(IEE) were approved. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During the same period, 404 industries were certified by the department to receive cash grants for export promotion (Value Addition). </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">For India-bound exports, 98 certificates of origin were recommended. The number of foreign investments approved by the Department of Industry in the last fiscal year was 327. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The department revealed that it received proposals for a total of Rs 33.14 billion foreign investments from the those industries.</span></span></p> ', 'published' => true, 'created' => '2023-07-30', 'modified' => '2023-07-30', 'keywords' => '', 'description' => '', 'sortorder' => '18319', 'image' => '20230730060214_collage (1).jpg', 'article_date' => '2023-07-30 06:00:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18589', 'article_category_id' => '1', 'title' => 'NRB Issues Unified Directives with Key Provisions', 'sub_title' => '', 'summary' => 'Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: Nepal Rastra Bank (NRB) has issued the Unified Directives, amending the Unified Directives of 2079 BS. The amended directive reintroduces the provision of 'counter cyclical buffer,' which was suspended during the COVID-19 pandemic in Fiscal Year 2076/77.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The counter cyclical buffer is aimed at managing the capital fund adequacy of banks. National level development banks and commercial banks are required to implement this provision based on the Capital Adequacy Framework, 2015. The buffer rate is determined by the difference between Gross Domestic Production (GDP) and net loan flow.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">NRB explains that the counter cyclical buffer helps control excessive loan outflows and is crucial in managing potential crises in banks and financial institutions. This provision was introduced by the Basel Committee on Banking Supervision to protect financial institutions from risks and align their representation with the economy.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition, NRB has made it mandatory for banks and financial institutions to obtain the Permanent Account Number (PAN) for loans of Rs 2.5 million or above from borrowers, either in a lump sum or separately. Previously, PAN was required for loans of Rs 5 million or more.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, the Unified Directive has set the lowest threshold of the interest rate corridor for deposit collection at 4.5 percent, a decrease of one percentage point. Additionally, the repo rate has also been reduced by 0.50 percentage points.</span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18318', 'image' => '20230728061907_collage (6).jpg', 'article_date' => '2023-07-28 18:18:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18588', 'article_category_id' => '1', 'title' => 'NTUC Urges the Government to Fix Minimum Wage for Workers Soon', 'sub_title' => '', 'summary' => 'The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 28: The Nepal Trade Union Congress (NTUC), a trade union closely associated with the Nepali Congress, is calling for the prompt determination of the minimum remuneration for workers through the Minimum Wages Fixation Board. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Issuing a press release, the NTUC General-Secretary Ajay Kumar Rai said that minimum wages of workers, which should be determined based on tripartite consensus in every years as per the Labour Act, 2074, has not been implemented yet.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has demanded that the government promptly convene a meeting of the Board to determine the minimum wages. The trade union congress has expressed serious concerns since the wages shave not been revised even after the second week of the current fiscal year. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC has been advocating to fix minimum wage of Rs 25,000 for workers. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The NTUC urged the government not to make any delays in fixing the minimum wages for workers.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18317', 'image' => '20230728044749_collage (4).jpg', 'article_date' => '2023-07-28 16:46:42', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18587', 'article_category_id' => '1', 'title' => 'IMF Delegation Expects Nepal’s Economy to Grow in Current FY', 'sub_title' => 'Cautious Implementation of Budget is Important: IMF', 'summary' => 'July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 28: An International Monetary Fund (IMF) staff team, led by Tidiane Kinda, conducted a visit to Kathmandu during July 20-26 to discuss recent macroeconomic developments and the implementation of the IMF-supported programmes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a statement towards the end of the visit, the team leader Kinda said that the country’s economic growth rate is expected to improve in the current fiscal year (FY 2023/24).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“Following an economic slowdown last year, growth is projected to rebound in FY 2023/24, inflation is expected to recede, and the external position will continue to strengthen. Cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability,” reads the statement</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that cautious and data-driven monetary policy has set an appropriate stance to maintain price and external stability. Continued vigilance on banks’ asset quality and stepping up supervisory efforts remain key to preserving financial stability, added Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, he has pointed out that prudent implementation of the current fiscal year's budget as an important part of securing financial sustainability. He said that the implementation of the measures adopted through the current FY’s budget will improve the efficiency of capital expenditure. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The team said that the monetary policy introduced by Nepal Rastra Bank for the current financial year is aimed at external sector stability and price increase control.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ongoing efforts of the authorities to fulfill the major commitments under the IMF-supported programmes with the technical assistance of the International Monetary Fund are welcome, said Kinda. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He also mentioned that the performance under the program will be formally assessed in the context of the third review of the Extended Credit Facility, which is expected to be undertaken later this year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IMF team expressed its gratefulness to the authorities in Nepal for their hospitality and constructive discussions. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The IMF team is grateful to the Nepali authorities for their hospitality and for constructive discussions. The IMF team held meetings with the Honorable Minister of Finance Dr Prakash Sharan Mahat, the Nepal Rastra Bank Governor Maha Prasad Adhikari, the National Planning Commission Vice-Chairman Min Bahadur Shrestha, and other senior government and central bank officials. The IMF team also met with representatives from the private sector and development partners,” added the statement.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18316', 'image' => '20230728032218_1690506562.1683679929.imf[1].jpg', 'article_date' => '2023-07-28 15:21:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18585', 'article_category_id' => '1', 'title' => 'Banks have Loanable Funds of around Rs 400 Billion', 'sub_title' => '', 'summary' => 'July 28: The loanable funds of banks has reached almost Rs 400 billion. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">July 28: The loanable funds of banks has reached almost Rs 400 billion. The investible funds of banks has increased due to the inability of banks to increase credit expansion compared to deposit collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the latest data of Nepal Rastra Bank, deposits in banks and financial institutions have reached Rs 5621 billion as of Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the other hand, total credit flow of BFIs stands at Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">4850</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The credit-deposit ratio (CD ratio) of banks has remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">83.21</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Banks are allowed to give loans by maintaining a CD ratio of up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">90</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. According to this provision, commercial banks have the capacity to extend additional loans of Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">381</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">On the last day of the last fiscal year, the CD ratio of banks had fallen to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">81</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent. Accordingly, banks had the capacity to extend loans up to Rs </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"">00 billion. However, the amount of bank deposits decreased after the facility of banks to calculate deposits from the local levels’ accumulated fund was removed. Deposits reached Rs </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">5767</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the last day of the last fiscal year and decreased by Rs </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"">0</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">9</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> billion on the second day of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">With the lack of liquidity in banks and financial institutions, the government last year gave the facility to count up to </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">80</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent of the accumulated money of the local level as bank deposits. This facility has been reduced from the current year due to excess liquidity in the banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">After the end of the facility given to the banks, the deposit has decreased, and the interbank interest rate has also remained high. The central bank informed that the interbank interest rate remained at </span></span><span style="font-size:15.0pt"><span style="font-family:"Arial Unicode MS","sans-serif"">6.2</span></span><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif""> percent on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">At the end of the last fiscal year, the interbank interest rate fell below </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""> percent. After the interbank interest rate fell below the target limit, the NRB tried to bring it within the limit by mopping excess liquidity through reverse repo and deposit collection tools but was unable to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Sunil KC, president of Nepal Bankers Association, an organization of chief executive officers of A class banks, says that the liquidity (investable amount) has been consistently high for the past few months because there has been no expansion of credit compared to the increase in deposits. He said that because there is no demand for loans in the market due to high interest rates, liquidity has accumulated in banks.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The central bank, which issued a tight monetary policy last year, has adopted a strategy of reducing credit flow this year as well. It has been mentioned in the monetary policy that the private sector is burdened with more debt and this has also started increasing non-performing loans.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18315', 'image' => '20230728012659_bankkkkkkk.jpg', 'article_date' => '2023-07-28 13:25:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '18586', 'article_category_id' => '1', 'title' => 'NFN calls for Declaring a Pandemic of Lumpy Skin Disease ', 'sub_title' => '', 'summary' => 'July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: The National Farmers Network (NFN) has demanded the announcement of the pandemic of lumpy skin disease in the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It has also called for controlling the disease at the earliest, and providing compensation to the affected farmers. Or else a protest programme would be launched, the NFN warned at a press conference organised on Thursday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Various nine organisations working for the welfare of farmers are associated with the Network. On the occasion, the network’s coordinator Ganesh Chandra Timilsina, who is also the president of the Nepal Farmers Association, a wing of the Nepali Congress, said the lumpy skin disease has affected many farmers across the country. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, chairperson of the All Nepal Peasants Federation, a wing of the CPN (UML), Dr Prem Dangal said over 50,000 domestic animals have died from the disease, resulting in the loss of around Rs 40 billion. Additional Rs 1 billion would be lost if the disease is not contained, he warned. </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 network has also demanded that the stalls at the Kalimati fruit and vegetable market be rented out through competitive bidding process. As part of its protest, NFN has launched a sit-in before the office of the Kalimati Fruits and Vegetable Market Development Committee. Likewise, the network demanded smooth supply of fertilisers and investigations into the delay in releasing the money under agriculture insurance. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18314', 'image' => '20230728020425_Lumpy-Skin-Disease.jpg', 'article_date' => '2023-07-28 14:03:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '18584', 'article_category_id' => '1', 'title' => 'Tourism Entrepreneurs File Writ Petition against VAT Imposed on Air Services', 'sub_title' => '', 'summary' => 'July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services.', '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"">July 28: Travel and tourism entrepreneurs have filed a writ petition at the Supreme Court against the government’s decision to impose value added tax (VAT) on air services. The businessmen decided to move the court after the government turned a deaf ear to their demand that such tax should not be imposed considering the crisis this sector has been facing post Covid-19 pandemic.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Nepal Association of Tour and Travel Agents (NATTA) on Thursday filed the petition demanding cancellation of VAT system on air services.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had imposed VAT on air services through the budget announced for the current fiscal year (FY 2023/24).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Ramesh Thapa, president of NATTA, said that the government did not respond to their request to amend the provision. According to him, NATTA decided to file the case as per the decision taken by the association’s former council members, NATTA’s incumbent members, legal professionals, tax consultants and NATTA board.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NATTA stressed on the need for cooperation between the government and the private sector for sustainable development of the tourism industry and that they are ready for discussion and cooperation. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18313', 'image' => '20230728125051_231385-nepal - Copy.jpg', 'article_date' => '2023-07-28 12:50:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18583', 'article_category_id' => '1', 'title' => 'Kristin and Tenjen Scale Mt K2, Setting World Record of Scaling 14 Peaks in Shortest Time', 'sub_title' => '', 'summary' => 'July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 28: Kristin Harila of Norway and Nepali mountain guide Tenjen (Lama) Sherpa successfully scaled Mt K2 in Pakistan on Thursday morning. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">K2, the second highest mountain in the world, is 8611 meters tall. Both of them successfully climbed the K2 at 10:45 am, according to the Seven Summit Treks Company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With the successful climbing of the mountain, Kristin and Tenjen have scaled 14 mountains above 8,000 meters in three months, said Managing Director of the Company, Mingma Sherpa. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Earlier, climber Nirmal Purja had scaled these 14 mountains in six months and six days in 2019. Kristin and Tenjen had set a target to climb 14 tallest mountains above 8,000 meters of the world within four months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin has also a record of becoming the first woman fastest climber scaling the 14 mountains above 8,000 meters of the world in one year and five days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Kristin and Tenjen have successfully climbed Mt Everest, Kanchanjangha, Lhotse, Makalu, Dhaulagiri, Manaslu, Cho Oyu, Shishapangma, Nanga Parbat, Gasherbrum-2, Gasherbrum-1, Broad Peak and Mt K2. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-28', 'modified' => '2023-07-28', 'keywords' => '', 'description' => '', 'sortorder' => '18312', 'image' => '20230728121842_K2-Mountain.jpg', 'article_date' => '2023-07-28 12:17:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18582', 'article_category_id' => '1', 'title' => 'Record Grain Harvest Expected this Season Globally', 'sub_title' => 'India’s Ban of Rice Exports Likely to Trigger Price Hike Elsewhere', 'summary' => 'July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Agencies</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">July 27: The world is heading for a record grain harvest in the 2023-2024 season but the market remains under pressure thanks to El Nino and risks due to the war in Ukraine.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The International Grain Council (IGC), which includes both major producer and consumer nations, has forecast production of 2.3 billion tonnes of grains, which is slightly higher than the 2021-2022 season.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">AFP reported that maize production continues to rise, with a 5.5 percent rise to 1.2 billion tonnes, thanks to more acreage in the United States and a record harvest expected in Brazil.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The IGC expects the production of rice, the top grain consumed by people, to rise by 2.5 percent to 527 million tones, added AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But the wheat harvest is expected to come in at 784 million tonnes. That is stable in comparison to the last five years, but a reduction of 2.4 percent from last year when Russia and Australia had bumper harvests.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The pressure on wheat is due to the consumption forecast which is 20 million tonnes more than production," AAFP quoted Damien Vercambre, a trader at Inter-Courtage commodities brokerage, as saying.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Demand for maize is even stronger, with consumption up by 30 million tonnes over the past year, but is covered by production.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“The increase is essentially for animal feed and is a sign of "the return of economic growth in Asia, where people eat more meat when their income permits," said Vercambre.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest monthly report from the US Department of Agriculture, wheat stocks at major exporters are roughly 55 million tonnes.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is a ten-year low and output hasn't risen much in the past three years, noted Sebastien Poncelet, a grain specialist at Agritel agricultural information service.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Added to this are concerns about how weather may affect output as well as geopolitical risks, with the grain deal which allowed Ukraine to export grain via the Black Sea having expired and Russia targeting the country's grain exporting infrastructure, including on the Danube, reported AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In Asia, analysts are keeping a close eye on the El Nino weather phenomenon, which is generally associated with a rise in global temperatures but for the moment is not expected to have a major impact on rice.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The monsoons arrived normally, which allowed planting the crops in good conditions," Patricio Mendez del Villar, an economist who specialises in rice at CIRAD, a French governmental agency for agricultural research and international development, told AFP.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">But unexpectedly, India, the world's top rice exporter, banned exports of non-basmati white rice -- which accounts for around a quarter of its total.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The move risks triggering price increases elsewhere when world prices are already up 30 percent from last year and despite the fact that Thailand, Vietnam and Pakistan could compensate for the reduced Indian exports, said Mendez del Villar.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">One comforting element is that rice stocks are ample at 37 percent of annual consumption, compared to 25 percent during the 2008 crisis, when prices more than quadrupled in the space of a few months.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18311', 'image' => '20230727045325_paddyyy-transformed.jpeg', 'article_date' => '2023-07-27 16:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18580', 'article_category_id' => '1', 'title' => 'Competitive Price and Diplomatic Initiative a Must for Nepal to Export Electricity', 'sub_title' => '', 'summary' => 'July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Madan Lamsal and Om Prakash Khanal</span></span></span></span></p> <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"">July 27: Nepal has an ambition to export 10,000 megawatts of electricity to India in the next 10 years. An agreement was also reached during Prime Minister Pushpa Kamal Dahal's visit to India. Similarly, by 2040, it is said that 9,000 megawatts of electricity will be sold to Bangladesh. Energy producers call it encouraging, but they see it as unlikely unless the country adopts a range of policy reforms and takes diplomatic initiatives.</span></span></span></span></p> <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 Economic Survey 2080, the current installed capacity of electricity is 2,666 MW. At present, electricity is being imported during the dry season to meet the domestic demand of around 1700 megawatts. Ganesh Karki, president of the Independent Power Producers Association of Nepal (IPPAN), says that if the target of 10,000 megawatts of electricity generation is to be achieved in 10 years, serious homework should be started from today.</span></span></span></span></p> <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"">IPPAN President Karki says that production is the primary condition for 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:"Nirmala UI","sans-serif"">"In order to export hydropower to India, first of all, production has to be increased. There is a need for many policy reforms to increase production and consumption in the country,” he said. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Electricity generators claim that the production of electricity will not be easy unless the procedural and policy problems seen in the construction of electricity development and distribution infrastructure are resolved.</span></span></span></span></p> <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"">Karki's experience is that acquiring land for electricity development is the most difficult of all. Laws related to forests are against the development of electricity. Such laws and procedures should be suspended for at least 10 years. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kumar Pandey, an advisor to IPPAN, says that electricity export is not as easy as said. Pandey says that the main challenge is to produce electricity at a competitive price. </span></span></span></span></p> <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"">"Nepal cannot export electricity unless the country has the capacity to provide electricity at a cheaper rate than India," said Pandey.</span></span></span></span></p> <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 Pandey, Nepal produces electricity with the technology and equipment imported from India. Therefore, the price cannot be competitive unless the government gives concessions,, argues Pandey.</span></span></span></span></p> <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"">Producers also say that billions of rupees need to be invested in transmission lines to export electricity to the market in India and Bangladesh. </span></span></span></span></p> <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"">IPPAN President Karki suggests that there should be a clear policy arrangement to finance the investment of banks and external investors in production and transmission infrastructure. He claimed that only if the laws and procedures that are obstacles to electricity production are suspended for at least 10 years, the investment of the financial sector in this sector will increase.</span></span></span></span></p> <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"">Experts claimed that export will be possible only if Nepal produces electricity at competitive prices and there is continuous production of electricity. </span></span></span></span></p> <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"">IPPAN's advisor Pandey argues that Nepal should put diplomatic efforts to India’s pre-condition to import electricity only if the investment is made by 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"">“This depends on Nepal's diplomatic and bargaining ability. We should be able to get India to agree to take products involving investors from countries other than Nepal and India," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Experts are of the opinion that India should also be positive in Nepal's electricity export to Bangladesh. Bangladesh has signed an agreement with Nepal to purchase 9,000 megawatts of electricity by 2040. A memorandum of understanding on cooperation in the energy sector between Nepal and Bangladesh has also been signed.</span></span></span></span></p> <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"">Bangladesh is heavily dependent on gas (51 percent) to meet its demand for energy, while the country’s hydropower is dependent on 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:"Nirmala UI","sans-serif"">The basis for exporting electricity to Bangladesh from Nepal has been created after the two countries signed an agreement for cooperation in the energy sector in 2018.</span></span></span></span></p> <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"">However, analyst Jagdish Prasad Agarwal is of the opinion that unless India's role is positive, electricity cannot be directly exported to Bangladesh through Indian land 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"">It is doubtful that India will allow direct export of electricity to Bangladesh through its land in the current situation where India is trying to control electricity trade through various policy directives. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">“There may also be a situation where India buys from Nepal and exports to Bangladesh," says Agarwal.</span></span></span></span></p> <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"">IPPAN President Karki also sees the potential of this option in exporting electricity to Bangladesh. </span></span></span></span></p> <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"">“India cannot stop electricity export to Bangladesh. There are also issues of international pressure. Instead, India can buy electricity from Nepal and sell it to Bangladesh,” says Karki.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18309', 'image' => '20230727020947_electricity.jpg', 'article_date' => '2023-07-27 14:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18579', 'article_category_id' => '1', 'title' => 'KMC Requests Taxpayers to Pay Taxes within Deadline ', 'sub_title' => '', 'summary' => 'July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: The Kathmandu Metropolitan City (KMC) has urged taxpayers to pay tax within the prescribed time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Issuing a notice, the Department of Revenue of the KMC requested to pay tax and get discount facility. The KMC has offered exemption in property tax, rental tax and business tax. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The notice reads that 10 per cent exemption has been offered on the tax amount of the current fiscal year if it is paid within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, additional 30 per cent discount would be offered in case of taxpayers who have been operating hotel, resort or movie theatre on their own land or on lease in the metropolitan city if they pay property tax with arrears by mid-January 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">It is stated that property tax of the parking lot of a building constructed with the purpose of commercial parking of vehicles would be exempted for 10 years from the date of completion of the building construction. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">There is provision of 95 percent discount on business tax and registration fees of an industry or enterprise operated under the 'One Ward, One Model Industry' programme for three years since the registration of the industry or business. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A 40 percent tax exemption has been provided for industries, businesses, companies, organisations registered in the name of women and people from the indigenous nationalities and Dalit communities, people with disabilities of whichever age group and youths below 35 years of age and the ones that have capital investment up to Rs 500,000, if they pay the tax within January 14, 2024. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, a 25 percent tax exemption has been announced for regular tax-payers. However, individuals who are the permanent residents of Kathmandu Metropolitan City will get a 50 percent tax exemption on such tax if they pay the tax within the stipulated date. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18308', 'image' => '20230727013237_tax.jpg', 'article_date' => '2023-07-27 13:31:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18578', 'article_category_id' => '1', 'title' => 'Nepal Imported Fertilizers Worth Rs 113.90 Billion in Five Years', 'sub_title' => '', 'summary' => 'July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. ', '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"">July 27: Farmers are still not getting chemical fertilizers on time as the government has not prioritized establishment of fertilizer plant. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">As a result, billions of rupees are spent every year to import fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Customs, more than Rs 113.90 billion have been spent for importing fertilizer in the last five years. In the fiscal year (FY) 2022/23 alone, Nepal imported 426,007 metric tons of chemical fertilizers worth Rs 40.65 billion. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Department of Agriculture, 88 percent of plantation has been completed across the country as of July 21. In the same period last year, 65 percent plantation was completed. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, plantation of paddy has been reduced by 12 percent this year compared to last year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the department, lack of chemical fertilizers was considered as the reason behind the delay in planting in the past but there is no shortage this time.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">This year, paddy plantation has been reduced mainly because of the delay in the onset of monsoon in Madhesh, Koshi and Bagmati provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Also, the outbreak of the lumpy skin disease in Karnali and Sudurpaschim provinces has also affected planting this year because the disease has affected cattle used for ploughing. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">However, paddy plantation is expected to gradually increase when the monsoon becomes more active and the availability of chemical fertilizers is ensured. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the data of the Ministry of Agriculture, two state-owned companies – Agricultural Inputs Company Limited and Salt Trading Corporation – have imported 376,874 metric tons of chemical fertilizers as of July 16. Currently, these two companies have a stock of 64,413 metric tons of chemical fertilizers.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">These two companies sold 342,462 metric tons of chemical fertilizers in the last fiscal year (FY 2022/23). </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18307', 'image' => '20230727010535_1690421631.2023-07-27 07.17.16_11zon.jpg', 'article_date' => '2023-07-27 13:04:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '18577', 'article_category_id' => '1', 'title' => 'Indian National Arrested in Nepal for Bank Robbery', 'sub_title' => '', 'summary' => 'July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">July 27: An Indian national has been arrested on the charged of being involved in a bank robbery. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The accused has been identified as Ajay Kumar Safi, 20, of Bihar. He was one of the members of a group that allegedly robbed NMB Bank’s branch in Mahottari Rural Municipality-2 on May 30 and made away with Rs 1.5 million. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He was apprehended on Wednesday evening from the Nepal-India border at Matihani-8, confirmed Deputy Superintendent of Police Dilip Kumar Giri, the spokesperson for the District Police Office, Mahottari. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A masked gang of four to five men who arrived at the bank on stolen motorcycles robbed the bank about two months ago by taking bank employees and customers hostage. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Since the day of the crime took place, police had been searching for the gang with the help of technology as well as specialized agency of Nepal Police and cross-border coordination with the Indian police. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Furthermore, police have also identified the other accused in the crime and are intensely searching for them. Police hope that they will be arrested soon, said Inspector Prakash Malla. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2023-07-27', 'modified' => '2023-07-27', 'keywords' => '', 'description' => '', 'sortorder' => '18306', 'image' => '20230727122310_blank - Copy.jpg', 'article_date' => '2023-07-27 12:22:15', '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
