KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of…
KATHMANDU: The government is planning to operate an iron mine in the country to reduce the excessive import of…
KATHMANDU: The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic…
KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial…
The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct…
KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police…
KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily.…
BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods.…
The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on…
July 8: Dairy farmers in Nepal are skeptical about the execution of a recent agreement for the payment of overdue milk arrears.…
KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction…
KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8).…
KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning.…
The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur…
KATHMANDU: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for…
The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of…
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The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21479', 'article_category_id' => '1', 'title' => 'New Monetary Policy will Boost Confidence of Private Sector: NRB Governor', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:13.5pt">The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During a discussion of the Finance Committee of the House of Representatives (HoR) on Monday, NRB Governor Maha Prasad Adhikari stated that the forthcoming monetary policy will support the government's fiscal policy and promote market confidence. He emphasized that this policy aims to contribute to the government's target of achieving a 6 percent annual economic growth rate.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">"Business confidence has decreased. We need to implement positive interventions to uplift confidence and ensure positive outcomes," said Governor Adhikari. He also noted that the construction and industrial sectors have experienced negative growth recently.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The governor highlighted that the economy, still recovering from the impacts of the COVID-19 pandemic, has not yet become vibrant. Despite lower interest rates, the demand for loans has not increased, and loans have not expanded in the productive sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Finance Secretary Madhu Kumar Marasini expressed confidence that the monetary policy will help implement the government's policy and program document and budget. "The monetary policy should create a favorable environment to achieve the targeted economic growth rate through capital mobilization," Secretary Marasini stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21205', 'image' => '20240709093116_20240708073923_KRB-KTM-24image_123650291(2)copy.jpg', 'article_date' => '2024-07-09 09:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21478', 'article_category_id' => '1', 'title' => 'NRB Furnishes Five-Point Suggestion to Address Problems of Problematic Cooperatives ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.</span></p> <p><span style="font-size:18px">Speaking at a meeting of the parliamentary probe special committee, formed to investigate the misuse of depositors' savings in financial cooperatives, NRB Governor Maha Prasad Adhikari on Monday shared that the problems in the cooperative sector could be resolved by following the five-point suggestions.</span></p> <p><span style="font-size:18px">Governor Adhikari suggested returning the savings of the depositors in three phases: up to Rs 100,000 in the first phase, up to Rs 500,000 in the second phase, and amounts over Rs 500,000 in the third phase.</span></p> <p><span style="font-size:18px">The NRB has proposed forming a dedicated group to resolve these issues and to adopt measures similar to those used in addressing the problems of troubled banks. He also advised making necessary arrangements for cooperatives that have operated without geographical restrictions.</span></p> <p><span style="font-size:18px">Anil Chandra Adhikari, Chief Executive Officer of the Credit Information Bureau, suggested establishing an integrated information system at the Bureau and creating separate information bureaus for insurance and cooperatives.</span></p> <p><span style="font-size:18px">Sunil KC, president of the Nepal Bankers' Association, warned of potential problems in other financial institutions similar to those faced by cooperatives and emphasized the need for prompt resolution.</span></p> <p><span style="font-size:18px">Dr Jay Kanta Raut, coordinator of the erstwhile cooperative suggestion taskforce, explained that the problems in the cooperative sector are increasing due to the lack of implementation of suggestions. He noted that most financial cooperatives are operating against the norms, values, and principles of cooperatives.</span></p> <p><span style="font-size:18px">Experts emphasized the need for establishing a Credit Recovery Tribunal in the financial cooperatives sector.</span></p> <p><span style="font-size:18px">Chairperson of the Special Committee, Surya Bahadur Thapa, stated that the committee has not yet started discussions on whether the government should compensate the depositors of the troubled cooperatives. The focus remains on the cooperatives' primary responsibility to return the depositors' savings.</span></p> <p><span style="font-size:18px">Former registrars of the Department of Cooperatives who have served since 2048 BS have been invited for the next meeting scheduled for Tuesday, July 9. Additionally, discussions will be held with victims of the financial cooperatives in future meetings. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'NRB, Nepal, Bank, cooperatives, suggestion, problematic', 'description' => '', 'sortorder' => '21204', 'image' => '20240709091058_20240708084654_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-07-09 09:08:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21477', 'article_category_id' => '1', 'title' => 'FNCCI to Elect President Through Direct Election', 'sub_title' => '', 'summary' => 'The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The change marks departure from the previous system where the senior vice president would automatically assume the top position.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This decision was made during a meeting of the FNCCI working committee on Monday, which resulted in an amendment to the organization's statute. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Chandra Prasad Dhakal confirmed that the amendment was passed unanimously by the working committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new election process will take effect from the next term, following the tenure of the current senior vice president, who will serve as FNCCI President.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Additionally, the amended statute introduces the position of two senior vice presidents, aiming to enhance the leadership structure within the organization. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21203', 'image' => '20240709062249_collage (61).jpg', 'article_date' => '2024-07-09 06:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21475', 'article_category_id' => '1', 'title' => 'Floods and Landslides Kill 70 People So Far', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central Police Spokesperson, Deputy Inspector General Dan Bahadur Karki told RSS that 70 people have died, 86 have been injured and five people have gone missing so far in incidents of floods and landslides occurred throughout the country from June 10 to July 8. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police said people injured in such incidents are undergoing treatment at local hospitals. Nine hundred and sixty-six incidents of flooding and landslides have occurred during this period, in which 86 houses have been damaged and 335 cattle head have perished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Police Headquarters, 4,790 police personnel have been mobilized in rescue and relief works during this period. The damage due to the monsoon-related disasters is equivalent to Rs 95.67 million, said the Police Headquarters. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21201', 'image' => '20240708092940_KDN-Dang-DJI_0936.jpg', 'article_date' => '2024-07-08 21:28:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21471', 'article_category_id' => '1', 'title' => 'Country Reports 38 Percent Rice Plantation', 'sub_title' => '', 'summary' => 'KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. As of Sunday, paddy cultivation has reached 38.6 percent, covering 539,766 hectares of land across all seven provinces.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Agriculture, Sudur Paschim Province has the highest rice plantation percentage at 54.2 percent, while Madhes has the lowest at 25.5 percent. The plantation percentages in other provinces as of July 7 are as follows: Koshi at 34.4 percent, Bagmati at 40.2 percent, Gandaki at 49.7 percent, Lumbini at 44.4 percent, and Karnali at 47.5 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Overall, rice is cultivated on a total of 1,398,273 hectares of land nationwide, with the largest area in Madhes Province covering 383,150 hectares and the smallest in Karnali at 41,904 hectares.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As of July 9 last year, the country had witnessed 42.9 percent rice plantation, the data shows.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Annually, Nepal produces an average of 5,700,000 metric tons of rice, while the demand stands at 6,200,000 metric tons, according to the Department's information officer, Tilak Raj Chaulagain. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21197', 'image' => '20240708041445_BR_JUMLA_IMG_20240707_100035_394(1).jpg', 'article_date' => '2024-07-08 16:14:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21470', 'article_category_id' => '1', 'title' => 'Traders Complain of Arbitrary Classification of Products to Increase Revenue', 'sub_title' => '', 'summary' => 'BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. According to the traders, this reclassification is aimed at generating higher revenue by placing goods in categories with higher tariffs to meet revenue collection targets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs office, however, claims that the changes to the Harmonized System (HS) codes were necessary due to some traders' tendencies to declare one product while importing another. The World Customs Organization created the HS code system to manage foreign trade, ensuring the first six digits are consistent globally, with the subsequent digits varying by country based on specific characteristics. This system is intended to facilitate uniform customs inspections and revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, traders argue that the Birgunj customs office has started reclassifying imported goods based on their own discretion, leading to increased costs of doing business. Importers report that since the decrease in foreign trade following the COVID-19 pandemic, customs authorities have been categorizing goods into the highest revenue-generating sections, pressuring them to comply.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Lath, General Secretary of Birgunj chapter of the FNCCI, criticized this practice, stating that while the HS code system is meant to ensure uniformity and facilitate foreign trade, its arbitrary reclassification for higher revenue is inappropriate. He called for the customs office to recognize the internationally accepted HS codes to avoid the difficulties businesses face with inconsistent classifications.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Traders have reported that the reclassification has particularly impacted the import of industrial equipment parts, increasing their costs. Chief Customs Administrator of Birgunj Customs, Dilaram Panthi, countered that the primary focus of customs is trade facilitation rather than revenue collection. However, he admitted that mistrust in importers has led to reclassifications, suggesting that reliability issues are at the root of the problem.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, Vice President of Birgunj chapter of the FNCCI, added that the reclassification has also affected the South Asian Free Trade Area (SAFTA) concessions, with importers losing benefits due to the changed HS codes. He reiterated the call for Nepal’s customs to accept internationally recognized codes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite these claims, customs officials maintain that the tightened HS codes are a response to traders' misdeclarations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to General Secretary Lath, importers have started opening Letters of Credit (LC) with double HS codes to navigate these classifications. Importers importing goods from India have had to mention codes for both countries in their LC, creating additional complications and highlighting the need for consistent HS code recognition.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21196', 'image' => '20240708040454_20210516024759_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2024-07-08 16:04:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21469', 'article_category_id' => '1', 'title' => 'NEPSE Drops 4.62 Points to Close at 2136.35', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 324scrips were traded through 59,974 transactions. A total of 10,475,181 units of shares were exchanged, resulting into a total turnover of Rs 4.56 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in terms of turnover, achieving Rs. 28.7 Crores and closing at Rs. 724 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) posted the highest gain for the day, surging by 9.68%. Conversely, Mailung Khola Jal Vidhyut Company Limited (MKJC) experienced the largest loss, dropping by 8.39%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, three sector indices ended the day in positive territory. The "Hotels and Tourism Index" recorded the highest sectoral loss of 0.95%, while the "Microfinance Index" saw the highest gain, increasing by 0.92%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21195', 'image' => '20240708033543_collage (60).jpg', 'article_date' => '2024-07-08 15:34:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21468', 'article_category_id' => '1', 'title' => 'Dairy Farmers Doubt Industries will Clear Arrears', 'sub_title' => '', 'summary' => 'July 8: Dairy farmers in Nepal are skeptical about the execution of a recent agreement for the payment of overdue milk arrears. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 8: Dairy farmers in Nepal are </span>skeptical about the execution of a recent agreement for the payment of overdue milk arrears. Despite multiple agreements between the government, farmers, and industrialists, the farmers have yet to receive the due payments. The latest agreement, reached on June 30, stipulated that industrialists would clear the dues up to April 12 by July 11. However, a week after the agreement, no payments have been made.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, noted that although the agreement promised payment by July 11, farmers have not received any payment. Doubts persist as previous agreements on December 12 and March 2 also failed to materialize.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers Cooperative Association, expressed his lack of confidence in the implementation of the agreement, citing the industrialists' failure to sell milk products as the reason for non-payment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Dairy Development Corporation (DDC), a government entity, has not made payments either, and private dairies have also withheld payments. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagale revealed he owes Rs 700,000 from various dairies over three months and threatened of "milk holidays" if farmers are not paid on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Farmers owe approximately Rs 4 billion from the DDC and private dairy industry, with the DDC's dues is about Rs 2 billion. Farmers protested in Kathmandu for payment despite the government’s crackdowns. The latest agreement sets a deadline of July 11 for the dairy industry to clear the arrears owed up to April 12. Additionally, arrears up to May 13 and June 14 must be paid by September 16, with future payments to be made in bi-monthly installments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Ram Prasad Acharya, general secretary of the Central Milk Producers Cooperative Association, warned that if the agreement is not honored, the government should penalize the industry. The reluctance of the ministry and private sector to enforce penalties on non-compliant industrialists raises questions about their commitment to the agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The dairy industry cites increased stockpiles of dairy products since April 2023 as the cause of payment issues. The National Dairy Development Board reports stockpiling of 1,400 metric tons of butter and 4,800 metric tons of milk powder, valued at Rs 5 billion, from April 2023 to March 2024, with the balance still increasing.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21194', 'image' => '20240708030357_1703036404.milk.jpg', 'article_date' => '2024-07-08 15:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21467', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Tighten Mobile Wallet Transactions Amid Security Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Nepal Rastra Bank had increased transaction limit for wallet companies and concessions were also given for remittance payments in order to encourage electronic payments. But these facilities were misused and therefore we decided to review the facilities given so far," said an official of Nepal Rastra Bank’s Payment System Department. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following investigations by the police, the central bank is analyzing wallet company transactions and plans to address issues in the next fiscal year's monetary policy. The Central Investigation Department (CIB) of Nepal Police found that electronic wallets were used for illegal payments during a gold smuggling investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the central bank has set a limit of Rs 200, 000 per day and Rs 1 million per month for mobile wallet transactions. However, wallet companies have arrangements with remittance companies allowing money from abroad to be deposited in electronic wallets in Nepal, beyond these limits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police investigations revealed that wallet companies Paywell and Easy Pay facilitated illegal payments under the guise of remittance transactions. These companies reportedly received remittances from Send Money Nepal and Namaste Remittance in Australia, using wallets for payments without central bank’s approval. The investigation found that the money originated from Hundi operations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, it was discovered that wallet companies issued more e-money than their bank account balances and provided inaccurate daily transaction details to Nepal Rastra Bank. Currently, nine payment system operators and 26 payment service providers operate under the central bank's regulations. Furthermore, 20 commercial banks, 16 development banks, 15 finance companies, and seven microfinance institutions have permission to operate electronic payment services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank's monitoring last year revealed that wallet company agents withdrew more money than allowed and failed to maintain up-to-date customer records. The annual monitoring report from the Payment System Department highlighted that payment system operators (PSOs) and payment service providers (PSPs) lack adequate physical and technical infrastructure and exhibit poor governance. The department conducted on-site monitoring of three PSOs and 12 PSPs last fiscal year. Additionally, 6 PSOs and 21 PSPs were monitored off-site. The central bank has taken corrective actions against companies that performed unsatisfactorily during monitoring.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21193', 'image' => '20240708123917_1699613044.wallet.jpg', 'article_date' => '2024-07-08 12:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21465', 'article_category_id' => '1', 'title' => 'Government Accounts to Freeze from Tonight for Year-End Procedures', 'sub_title' => '', 'summary' => 'KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). This closure, mandated by Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, 2077, applies to accounts operated by the Financial Comptroller General Office (FCGO), Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to FCGO spokesperson Om Prasad Rijal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Starting Monday night, the Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) will be closed for one week," Rijal said. He clarified that there is no formal circular for this action, but no budget payments will be processed after Monday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal emphasized that all accounts used for disbursing federal, provincial, and local budgets will be closed for a week, necessitating that all budget payment obligations for the current fiscal year (FY) 2080-81 be settled by Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations requires that payments be halted one week before the end of the fiscal year. No payments can be made except for those specified by the Appropriation Act as not to be 'frozen.' However, the regulations allow for payments for urgent purposes with the consent of the FCGO.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21191', 'image' => '20240708105918_FCGO.jpg', 'article_date' => '2024-07-08 10:58:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21464', 'article_category_id' => '1', 'title' => '62 Dead Since the Onset of Monsoon this Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. The monsoon started from June 10, three days before the expected date.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The figures were released by the National Disaster Risk Reduction and Management Authority (NDRRMA) and the National Emergency Operation Centre under the Ministry of Home Affairs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the centre, 17 people killed due to floods during the review period including one person in Morang, three in Dang, one in Kailali, two in Kavrepalanchowk, one in Udayapur, and nine in Palpa. Two people are missing due to flooding. Five houses were washed away, and eleven houses were partially damaged by floods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34 people lost their lives due to landslides. According to the NDRRMA’s data, two people went missing and 38 were injured due to landslides. Additionally, 43 houses have been completely damaged by landslides, and 24 houses have been partially damaged. Nineteen sheds were damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, eleven houses were completely damaged, and six houses were partially damaged due to inundation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NDRRMA, floods and landslides have caused damage equivalent to Rs 8.6 million rupees so far. Furthermore, 19 people died and 35 were injured due to lightning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Monsoon-related incidents such as floods, landslides, inundation, and lightning are still increasing. We are coordinating with relevant agencies to reduce the damage," said Dr. Dijan Bhattarai, the spokesperson for the Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This year, it is estimated that there will be more rain than average and 1.8 million people will be affected, so it is important to be cautious, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, during this year's monsoon period, it is estimated that 412,000 households will be affected by monsoon-related disasters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunil Pokharel, the spokesperson of the Department of Meteorology, informed that the risk of flooding will decrease throughout the country from Monday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21190', 'image' => '20240708102059_jpg.jpg', 'article_date' => '2024-07-08 10:19:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21463', 'article_category_id' => '1', 'title' => 'Diyalo Bangla Opens to the Public in Chitwan', 'sub_title' => '', 'summary' => 'The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The decision to open Diyalo Bangla, which is now managed by the Nepal Trust, was made at the request of the Bharatpur Metropolitan City Office. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the opening ceremony, Minister Tamang highlighted the significance of the palace for both visitors and researchers. He emphasized that this move would contribute significantly to the success of Bharatpur Visit Year 2024.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Minister Tamang also noted that the expansion of Bharatpur Airport to accommodate night flights is expected to boost tourism and increase the number of visitors to the palace.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Bharatpur, Renu Dahal, stated that the opening of the palace was a result of a consensus with the Nepal Trust. She assured that the public can now visit the palace, satisfying their curiosity. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Until an official guideline is established for the systematic operation of Diyalo Bangla, visitors will enjoy free entrance. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor Dahal added that the metropolitan city is actively promoting the palace as a key tourist destination.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The agreement between the Nepal Trust and Bharatpur Metropolitan City stipulates that revenue generated from the palace will be shared, with 60% allocated to the Nepal Trust. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21189', 'image' => '20240708055304_collage (59).jpg', 'article_date' => '2024-07-08 05:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '21462', 'article_category_id' => '1', 'title' => 'National Assembly Endorses Bill on Amending Some Nepal's Acts for Promoting Investment', 'sub_title' => '', 'summary' => 'KATHMANDU: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">KATHMANDU: </span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">A session of the upper house on Sunday passed the Bill along with the message from the House of Representatives regarding the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Minister for Communications and Information Technology, Rekha Sharma, presented the Bill before the session on behalf of Prime Minister Pushpa Kamal Dahal who is also in charge of the Ministry of Industry, Commerce and Supplies. The minister proposed the session to pass the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">National Assembly member Sonam Gyaljen Sherpa demanded the government present a clear modality of investment for the people of the buffer zone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Tul Prasad Bishwakarma urged the government to bear in mind the existing Foreign Investment and Technology Transfer Act while proceeding with the Bill while Bhagawati Neupane stressed the need for cooperation among the federal, province, and local governments in the course of implementing a project or operating industry along the buffer zones.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">In response to lawmakers' queries, Minister Sharma said the amendment of some laws was mandated as per Nepal's commitments to enabling an investment-friendly atmosphere in the country it made during the April 28-29 Investment Summit. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">She said that revisions to the National Park Act, 2039 BS and the Forest Act are necessary and the relevant issues raised here will be further discussed and clarified during the amendment of those acts. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly shall meet again at 1:15 PM on July 11, Thursday. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21188', 'image' => '20240707061350_20240514115805_Parliament.jpg', 'article_date' => '2024-07-07 18:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21461', 'article_category_id' => '1', 'title' => 'CIAA's Annual Report Tabled in House of Representatives', 'sub_title' => '', 'summary' => 'The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 7: The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's House meeting, Minister for Labour, Employment, and Social Security Dol Prasad Aryal tabled the report on behalf of Prime Minister Pushpa Kamal Dahal 'Prachanda'.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Secretary of the House of Representatives Suresh Adhikari announced the message received from the National Assembly regarding the 'Appropriation Bill, 2081,' which originated in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaker Devraj Ghimire also informed the House about the letters received from the President's office concerning the authentication of the bill and the allocation of ministry portfolios. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21187', 'image' => '20240707044333_collage (27).jpg', 'article_date' => '2024-07-07 16:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21479', 'article_category_id' => '1', 'title' => 'New Monetary Policy will Boost Confidence of Private Sector: NRB Governor', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:13.5pt">The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During a discussion of the Finance Committee of the House of Representatives (HoR) on Monday, NRB Governor Maha Prasad Adhikari stated that the forthcoming monetary policy will support the government's fiscal policy and promote market confidence. He emphasized that this policy aims to contribute to the government's target of achieving a 6 percent annual economic growth rate.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">"Business confidence has decreased. We need to implement positive interventions to uplift confidence and ensure positive outcomes," said Governor Adhikari. He also noted that the construction and industrial sectors have experienced negative growth recently.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The governor highlighted that the economy, still recovering from the impacts of the COVID-19 pandemic, has not yet become vibrant. Despite lower interest rates, the demand for loans has not increased, and loans have not expanded in the productive sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Finance Secretary Madhu Kumar Marasini expressed confidence that the monetary policy will help implement the government's policy and program document and budget. "The monetary policy should create a favorable environment to achieve the targeted economic growth rate through capital mobilization," Secretary Marasini stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21205', 'image' => '20240709093116_20240708073923_KRB-KTM-24image_123650291(2)copy.jpg', 'article_date' => '2024-07-09 09:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21478', 'article_category_id' => '1', 'title' => 'NRB Furnishes Five-Point Suggestion to Address Problems of Problematic Cooperatives ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.</span></p> <p><span style="font-size:18px">Speaking at a meeting of the parliamentary probe special committee, formed to investigate the misuse of depositors' savings in financial cooperatives, NRB Governor Maha Prasad Adhikari on Monday shared that the problems in the cooperative sector could be resolved by following the five-point suggestions.</span></p> <p><span style="font-size:18px">Governor Adhikari suggested returning the savings of the depositors in three phases: up to Rs 100,000 in the first phase, up to Rs 500,000 in the second phase, and amounts over Rs 500,000 in the third phase.</span></p> <p><span style="font-size:18px">The NRB has proposed forming a dedicated group to resolve these issues and to adopt measures similar to those used in addressing the problems of troubled banks. He also advised making necessary arrangements for cooperatives that have operated without geographical restrictions.</span></p> <p><span style="font-size:18px">Anil Chandra Adhikari, Chief Executive Officer of the Credit Information Bureau, suggested establishing an integrated information system at the Bureau and creating separate information bureaus for insurance and cooperatives.</span></p> <p><span style="font-size:18px">Sunil KC, president of the Nepal Bankers' Association, warned of potential problems in other financial institutions similar to those faced by cooperatives and emphasized the need for prompt resolution.</span></p> <p><span style="font-size:18px">Dr Jay Kanta Raut, coordinator of the erstwhile cooperative suggestion taskforce, explained that the problems in the cooperative sector are increasing due to the lack of implementation of suggestions. He noted that most financial cooperatives are operating against the norms, values, and principles of cooperatives.</span></p> <p><span style="font-size:18px">Experts emphasized the need for establishing a Credit Recovery Tribunal in the financial cooperatives sector.</span></p> <p><span style="font-size:18px">Chairperson of the Special Committee, Surya Bahadur Thapa, stated that the committee has not yet started discussions on whether the government should compensate the depositors of the troubled cooperatives. The focus remains on the cooperatives' primary responsibility to return the depositors' savings.</span></p> <p><span style="font-size:18px">Former registrars of the Department of Cooperatives who have served since 2048 BS have been invited for the next meeting scheduled for Tuesday, July 9. Additionally, discussions will be held with victims of the financial cooperatives in future meetings. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'NRB, Nepal, Bank, cooperatives, suggestion, problematic', 'description' => '', 'sortorder' => '21204', 'image' => '20240709091058_20240708084654_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-07-09 09:08:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21477', 'article_category_id' => '1', 'title' => 'FNCCI to Elect President Through Direct Election', 'sub_title' => '', 'summary' => 'The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The change marks departure from the previous system where the senior vice president would automatically assume the top position.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This decision was made during a meeting of the FNCCI working committee on Monday, which resulted in an amendment to the organization's statute. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Chandra Prasad Dhakal confirmed that the amendment was passed unanimously by the working committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new election process will take effect from the next term, following the tenure of the current senior vice president, who will serve as FNCCI President.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Additionally, the amended statute introduces the position of two senior vice presidents, aiming to enhance the leadership structure within the organization. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21203', 'image' => '20240709062249_collage (61).jpg', 'article_date' => '2024-07-09 06:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21475', 'article_category_id' => '1', 'title' => 'Floods and Landslides Kill 70 People So Far', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central Police Spokesperson, Deputy Inspector General Dan Bahadur Karki told RSS that 70 people have died, 86 have been injured and five people have gone missing so far in incidents of floods and landslides occurred throughout the country from June 10 to July 8. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police said people injured in such incidents are undergoing treatment at local hospitals. Nine hundred and sixty-six incidents of flooding and landslides have occurred during this period, in which 86 houses have been damaged and 335 cattle head have perished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Police Headquarters, 4,790 police personnel have been mobilized in rescue and relief works during this period. The damage due to the monsoon-related disasters is equivalent to Rs 95.67 million, said the Police Headquarters. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21201', 'image' => '20240708092940_KDN-Dang-DJI_0936.jpg', 'article_date' => '2024-07-08 21:28:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21471', 'article_category_id' => '1', 'title' => 'Country Reports 38 Percent Rice Plantation', 'sub_title' => '', 'summary' => 'KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. As of Sunday, paddy cultivation has reached 38.6 percent, covering 539,766 hectares of land across all seven provinces.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Agriculture, Sudur Paschim Province has the highest rice plantation percentage at 54.2 percent, while Madhes has the lowest at 25.5 percent. The plantation percentages in other provinces as of July 7 are as follows: Koshi at 34.4 percent, Bagmati at 40.2 percent, Gandaki at 49.7 percent, Lumbini at 44.4 percent, and Karnali at 47.5 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Overall, rice is cultivated on a total of 1,398,273 hectares of land nationwide, with the largest area in Madhes Province covering 383,150 hectares and the smallest in Karnali at 41,904 hectares.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As of July 9 last year, the country had witnessed 42.9 percent rice plantation, the data shows.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Annually, Nepal produces an average of 5,700,000 metric tons of rice, while the demand stands at 6,200,000 metric tons, according to the Department's information officer, Tilak Raj Chaulagain. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21197', 'image' => '20240708041445_BR_JUMLA_IMG_20240707_100035_394(1).jpg', 'article_date' => '2024-07-08 16:14:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21470', 'article_category_id' => '1', 'title' => 'Traders Complain of Arbitrary Classification of Products to Increase Revenue', 'sub_title' => '', 'summary' => 'BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. According to the traders, this reclassification is aimed at generating higher revenue by placing goods in categories with higher tariffs to meet revenue collection targets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs office, however, claims that the changes to the Harmonized System (HS) codes were necessary due to some traders' tendencies to declare one product while importing another. The World Customs Organization created the HS code system to manage foreign trade, ensuring the first six digits are consistent globally, with the subsequent digits varying by country based on specific characteristics. This system is intended to facilitate uniform customs inspections and revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, traders argue that the Birgunj customs office has started reclassifying imported goods based on their own discretion, leading to increased costs of doing business. Importers report that since the decrease in foreign trade following the COVID-19 pandemic, customs authorities have been categorizing goods into the highest revenue-generating sections, pressuring them to comply.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Lath, General Secretary of Birgunj chapter of the FNCCI, criticized this practice, stating that while the HS code system is meant to ensure uniformity and facilitate foreign trade, its arbitrary reclassification for higher revenue is inappropriate. He called for the customs office to recognize the internationally accepted HS codes to avoid the difficulties businesses face with inconsistent classifications.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Traders have reported that the reclassification has particularly impacted the import of industrial equipment parts, increasing their costs. Chief Customs Administrator of Birgunj Customs, Dilaram Panthi, countered that the primary focus of customs is trade facilitation rather than revenue collection. However, he admitted that mistrust in importers has led to reclassifications, suggesting that reliability issues are at the root of the problem.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, Vice President of Birgunj chapter of the FNCCI, added that the reclassification has also affected the South Asian Free Trade Area (SAFTA) concessions, with importers losing benefits due to the changed HS codes. He reiterated the call for Nepal’s customs to accept internationally recognized codes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite these claims, customs officials maintain that the tightened HS codes are a response to traders' misdeclarations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to General Secretary Lath, importers have started opening Letters of Credit (LC) with double HS codes to navigate these classifications. Importers importing goods from India have had to mention codes for both countries in their LC, creating additional complications and highlighting the need for consistent HS code recognition.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21196', 'image' => '20240708040454_20210516024759_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2024-07-08 16:04:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21469', 'article_category_id' => '1', 'title' => 'NEPSE Drops 4.62 Points to Close at 2136.35', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 324scrips were traded through 59,974 transactions. A total of 10,475,181 units of shares were exchanged, resulting into a total turnover of Rs 4.56 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in terms of turnover, achieving Rs. 28.7 Crores and closing at Rs. 724 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) posted the highest gain for the day, surging by 9.68%. Conversely, Mailung Khola Jal Vidhyut Company Limited (MKJC) experienced the largest loss, dropping by 8.39%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, three sector indices ended the day in positive territory. The "Hotels and Tourism Index" recorded the highest sectoral loss of 0.95%, while the "Microfinance Index" saw the highest gain, increasing by 0.92%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21195', 'image' => '20240708033543_collage (60).jpg', 'article_date' => '2024-07-08 15:34:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21468', 'article_category_id' => '1', 'title' => 'Dairy Farmers Doubt Industries will Clear Arrears', 'sub_title' => '', 'summary' => 'July 8: Dairy farmers in Nepal are skeptical about the execution of a recent agreement for the payment of overdue milk arrears. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 8: Dairy farmers in Nepal are </span>skeptical about the execution of a recent agreement for the payment of overdue milk arrears. Despite multiple agreements between the government, farmers, and industrialists, the farmers have yet to receive the due payments. The latest agreement, reached on June 30, stipulated that industrialists would clear the dues up to April 12 by July 11. However, a week after the agreement, no payments have been made.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, noted that although the agreement promised payment by July 11, farmers have not received any payment. Doubts persist as previous agreements on December 12 and March 2 also failed to materialize.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers Cooperative Association, expressed his lack of confidence in the implementation of the agreement, citing the industrialists' failure to sell milk products as the reason for non-payment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Dairy Development Corporation (DDC), a government entity, has not made payments either, and private dairies have also withheld payments. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagale revealed he owes Rs 700,000 from various dairies over three months and threatened of "milk holidays" if farmers are not paid on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Farmers owe approximately Rs 4 billion from the DDC and private dairy industry, with the DDC's dues is about Rs 2 billion. Farmers protested in Kathmandu for payment despite the government’s crackdowns. The latest agreement sets a deadline of July 11 for the dairy industry to clear the arrears owed up to April 12. Additionally, arrears up to May 13 and June 14 must be paid by September 16, with future payments to be made in bi-monthly installments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Ram Prasad Acharya, general secretary of the Central Milk Producers Cooperative Association, warned that if the agreement is not honored, the government should penalize the industry. The reluctance of the ministry and private sector to enforce penalties on non-compliant industrialists raises questions about their commitment to the agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The dairy industry cites increased stockpiles of dairy products since April 2023 as the cause of payment issues. The National Dairy Development Board reports stockpiling of 1,400 metric tons of butter and 4,800 metric tons of milk powder, valued at Rs 5 billion, from April 2023 to March 2024, with the balance still increasing.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21194', 'image' => '20240708030357_1703036404.milk.jpg', 'article_date' => '2024-07-08 15:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21467', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Tighten Mobile Wallet Transactions Amid Security Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Nepal Rastra Bank had increased transaction limit for wallet companies and concessions were also given for remittance payments in order to encourage electronic payments. But these facilities were misused and therefore we decided to review the facilities given so far," said an official of Nepal Rastra Bank’s Payment System Department. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following investigations by the police, the central bank is analyzing wallet company transactions and plans to address issues in the next fiscal year's monetary policy. The Central Investigation Department (CIB) of Nepal Police found that electronic wallets were used for illegal payments during a gold smuggling investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the central bank has set a limit of Rs 200, 000 per day and Rs 1 million per month for mobile wallet transactions. However, wallet companies have arrangements with remittance companies allowing money from abroad to be deposited in electronic wallets in Nepal, beyond these limits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police investigations revealed that wallet companies Paywell and Easy Pay facilitated illegal payments under the guise of remittance transactions. These companies reportedly received remittances from Send Money Nepal and Namaste Remittance in Australia, using wallets for payments without central bank’s approval. The investigation found that the money originated from Hundi operations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, it was discovered that wallet companies issued more e-money than their bank account balances and provided inaccurate daily transaction details to Nepal Rastra Bank. Currently, nine payment system operators and 26 payment service providers operate under the central bank's regulations. Furthermore, 20 commercial banks, 16 development banks, 15 finance companies, and seven microfinance institutions have permission to operate electronic payment services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank's monitoring last year revealed that wallet company agents withdrew more money than allowed and failed to maintain up-to-date customer records. The annual monitoring report from the Payment System Department highlighted that payment system operators (PSOs) and payment service providers (PSPs) lack adequate physical and technical infrastructure and exhibit poor governance. The department conducted on-site monitoring of three PSOs and 12 PSPs last fiscal year. Additionally, 6 PSOs and 21 PSPs were monitored off-site. The central bank has taken corrective actions against companies that performed unsatisfactorily during monitoring.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21193', 'image' => '20240708123917_1699613044.wallet.jpg', 'article_date' => '2024-07-08 12:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21465', 'article_category_id' => '1', 'title' => 'Government Accounts to Freeze from Tonight for Year-End Procedures', 'sub_title' => '', 'summary' => 'KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). This closure, mandated by Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, 2077, applies to accounts operated by the Financial Comptroller General Office (FCGO), Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to FCGO spokesperson Om Prasad Rijal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Starting Monday night, the Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) will be closed for one week," Rijal said. He clarified that there is no formal circular for this action, but no budget payments will be processed after Monday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal emphasized that all accounts used for disbursing federal, provincial, and local budgets will be closed for a week, necessitating that all budget payment obligations for the current fiscal year (FY) 2080-81 be settled by Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations requires that payments be halted one week before the end of the fiscal year. No payments can be made except for those specified by the Appropriation Act as not to be 'frozen.' However, the regulations allow for payments for urgent purposes with the consent of the FCGO.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21191', 'image' => '20240708105918_FCGO.jpg', 'article_date' => '2024-07-08 10:58:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21464', 'article_category_id' => '1', 'title' => '62 Dead Since the Onset of Monsoon this Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. The monsoon started from June 10, three days before the expected date.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The figures were released by the National Disaster Risk Reduction and Management Authority (NDRRMA) and the National Emergency Operation Centre under the Ministry of Home Affairs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the centre, 17 people killed due to floods during the review period including one person in Morang, three in Dang, one in Kailali, two in Kavrepalanchowk, one in Udayapur, and nine in Palpa. Two people are missing due to flooding. Five houses were washed away, and eleven houses were partially damaged by floods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34 people lost their lives due to landslides. According to the NDRRMA’s data, two people went missing and 38 were injured due to landslides. Additionally, 43 houses have been completely damaged by landslides, and 24 houses have been partially damaged. Nineteen sheds were damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, eleven houses were completely damaged, and six houses were partially damaged due to inundation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NDRRMA, floods and landslides have caused damage equivalent to Rs 8.6 million rupees so far. Furthermore, 19 people died and 35 were injured due to lightning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Monsoon-related incidents such as floods, landslides, inundation, and lightning are still increasing. We are coordinating with relevant agencies to reduce the damage," said Dr. Dijan Bhattarai, the spokesperson for the Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This year, it is estimated that there will be more rain than average and 1.8 million people will be affected, so it is important to be cautious, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, during this year's monsoon period, it is estimated that 412,000 households will be affected by monsoon-related disasters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunil Pokharel, the spokesperson of the Department of Meteorology, informed that the risk of flooding will decrease throughout the country from Monday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21190', 'image' => '20240708102059_jpg.jpg', 'article_date' => '2024-07-08 10:19:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21463', 'article_category_id' => '1', 'title' => 'Diyalo Bangla Opens to the Public in Chitwan', 'sub_title' => '', 'summary' => 'The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The decision to open Diyalo Bangla, which is now managed by the Nepal Trust, was made at the request of the Bharatpur Metropolitan City Office. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the opening ceremony, Minister Tamang highlighted the significance of the palace for both visitors and researchers. He emphasized that this move would contribute significantly to the success of Bharatpur Visit Year 2024.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Minister Tamang also noted that the expansion of Bharatpur Airport to accommodate night flights is expected to boost tourism and increase the number of visitors to the palace.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Bharatpur, Renu Dahal, stated that the opening of the palace was a result of a consensus with the Nepal Trust. She assured that the public can now visit the palace, satisfying their curiosity. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Until an official guideline is established for the systematic operation of Diyalo Bangla, visitors will enjoy free entrance. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor Dahal added that the metropolitan city is actively promoting the palace as a key tourist destination.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The agreement between the Nepal Trust and Bharatpur Metropolitan City stipulates that revenue generated from the palace will be shared, with 60% allocated to the Nepal Trust. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21189', 'image' => '20240708055304_collage (59).jpg', 'article_date' => '2024-07-08 05:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '21462', 'article_category_id' => '1', 'title' => 'National Assembly Endorses Bill on Amending Some Nepal's Acts for Promoting Investment', 'sub_title' => '', 'summary' => 'KATHMANDU: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">KATHMANDU: </span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">A session of the upper house on Sunday passed the Bill along with the message from the House of Representatives regarding the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Minister for Communications and Information Technology, Rekha Sharma, presented the Bill before the session on behalf of Prime Minister Pushpa Kamal Dahal who is also in charge of the Ministry of Industry, Commerce and Supplies. The minister proposed the session to pass the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">National Assembly member Sonam Gyaljen Sherpa demanded the government present a clear modality of investment for the people of the buffer zone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Tul Prasad Bishwakarma urged the government to bear in mind the existing Foreign Investment and Technology Transfer Act while proceeding with the Bill while Bhagawati Neupane stressed the need for cooperation among the federal, province, and local governments in the course of implementing a project or operating industry along the buffer zones.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">In response to lawmakers' queries, Minister Sharma said the amendment of some laws was mandated as per Nepal's commitments to enabling an investment-friendly atmosphere in the country it made during the April 28-29 Investment Summit. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">She said that revisions to the National Park Act, 2039 BS and the Forest Act are necessary and the relevant issues raised here will be further discussed and clarified during the amendment of those acts. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly shall meet again at 1:15 PM on July 11, Thursday. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21188', 'image' => '20240707061350_20240514115805_Parliament.jpg', 'article_date' => '2024-07-07 18:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21461', 'article_category_id' => '1', 'title' => 'CIAA's Annual Report Tabled in House of Representatives', 'sub_title' => '', 'summary' => 'The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 7: The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's House meeting, Minister for Labour, Employment, and Social Security Dol Prasad Aryal tabled the report on behalf of Prime Minister Pushpa Kamal Dahal 'Prachanda'.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Secretary of the House of Representatives Suresh Adhikari announced the message received from the National Assembly regarding the 'Appropriation Bill, 2081,' which originated in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaker Devraj Ghimire also informed the House about the letters received from the President's office concerning the authentication of the bill and the allocation of ministry portfolios. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21187', 'image' => '20240707044333_collage (27).jpg', 'article_date' => '2024-07-07 16:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21479', 'article_category_id' => '1', 'title' => 'New Monetary Policy will Boost Confidence of Private Sector: NRB Governor', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:13.5pt">The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During a discussion of the Finance Committee of the House of Representatives (HoR) on Monday, NRB Governor Maha Prasad Adhikari stated that the forthcoming monetary policy will support the government's fiscal policy and promote market confidence. He emphasized that this policy aims to contribute to the government's target of achieving a 6 percent annual economic growth rate.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">"Business confidence has decreased. We need to implement positive interventions to uplift confidence and ensure positive outcomes," said Governor Adhikari. He also noted that the construction and industrial sectors have experienced negative growth recently.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The governor highlighted that the economy, still recovering from the impacts of the COVID-19 pandemic, has not yet become vibrant. Despite lower interest rates, the demand for loans has not increased, and loans have not expanded in the productive sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Finance Secretary Madhu Kumar Marasini expressed confidence that the monetary policy will help implement the government's policy and program document and budget. "The monetary policy should create a favorable environment to achieve the targeted economic growth rate through capital mobilization," Secretary Marasini stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21205', 'image' => '20240709093116_20240708073923_KRB-KTM-24image_123650291(2)copy.jpg', 'article_date' => '2024-07-09 09:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21478', 'article_category_id' => '1', 'title' => 'NRB Furnishes Five-Point Suggestion to Address Problems of Problematic Cooperatives ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.</span></p> <p><span style="font-size:18px">Speaking at a meeting of the parliamentary probe special committee, formed to investigate the misuse of depositors' savings in financial cooperatives, NRB Governor Maha Prasad Adhikari on Monday shared that the problems in the cooperative sector could be resolved by following the five-point suggestions.</span></p> <p><span style="font-size:18px">Governor Adhikari suggested returning the savings of the depositors in three phases: up to Rs 100,000 in the first phase, up to Rs 500,000 in the second phase, and amounts over Rs 500,000 in the third phase.</span></p> <p><span style="font-size:18px">The NRB has proposed forming a dedicated group to resolve these issues and to adopt measures similar to those used in addressing the problems of troubled banks. He also advised making necessary arrangements for cooperatives that have operated without geographical restrictions.</span></p> <p><span style="font-size:18px">Anil Chandra Adhikari, Chief Executive Officer of the Credit Information Bureau, suggested establishing an integrated information system at the Bureau and creating separate information bureaus for insurance and cooperatives.</span></p> <p><span style="font-size:18px">Sunil KC, president of the Nepal Bankers' Association, warned of potential problems in other financial institutions similar to those faced by cooperatives and emphasized the need for prompt resolution.</span></p> <p><span style="font-size:18px">Dr Jay Kanta Raut, coordinator of the erstwhile cooperative suggestion taskforce, explained that the problems in the cooperative sector are increasing due to the lack of implementation of suggestions. He noted that most financial cooperatives are operating against the norms, values, and principles of cooperatives.</span></p> <p><span style="font-size:18px">Experts emphasized the need for establishing a Credit Recovery Tribunal in the financial cooperatives sector.</span></p> <p><span style="font-size:18px">Chairperson of the Special Committee, Surya Bahadur Thapa, stated that the committee has not yet started discussions on whether the government should compensate the depositors of the troubled cooperatives. The focus remains on the cooperatives' primary responsibility to return the depositors' savings.</span></p> <p><span style="font-size:18px">Former registrars of the Department of Cooperatives who have served since 2048 BS have been invited for the next meeting scheduled for Tuesday, July 9. Additionally, discussions will be held with victims of the financial cooperatives in future meetings. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'NRB, Nepal, Bank, cooperatives, suggestion, problematic', 'description' => '', 'sortorder' => '21204', 'image' => '20240709091058_20240708084654_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-07-09 09:08:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21477', 'article_category_id' => '1', 'title' => 'FNCCI to Elect President Through Direct Election', 'sub_title' => '', 'summary' => 'The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The change marks departure from the previous system where the senior vice president would automatically assume the top position.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This decision was made during a meeting of the FNCCI working committee on Monday, which resulted in an amendment to the organization's statute. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Chandra Prasad Dhakal confirmed that the amendment was passed unanimously by the working committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new election process will take effect from the next term, following the tenure of the current senior vice president, who will serve as FNCCI President.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Additionally, the amended statute introduces the position of two senior vice presidents, aiming to enhance the leadership structure within the organization. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21203', 'image' => '20240709062249_collage (61).jpg', 'article_date' => '2024-07-09 06:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21475', 'article_category_id' => '1', 'title' => 'Floods and Landslides Kill 70 People So Far', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central Police Spokesperson, Deputy Inspector General Dan Bahadur Karki told RSS that 70 people have died, 86 have been injured and five people have gone missing so far in incidents of floods and landslides occurred throughout the country from June 10 to July 8. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police said people injured in such incidents are undergoing treatment at local hospitals. Nine hundred and sixty-six incidents of flooding and landslides have occurred during this period, in which 86 houses have been damaged and 335 cattle head have perished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Police Headquarters, 4,790 police personnel have been mobilized in rescue and relief works during this period. The damage due to the monsoon-related disasters is equivalent to Rs 95.67 million, said the Police Headquarters. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21201', 'image' => '20240708092940_KDN-Dang-DJI_0936.jpg', 'article_date' => '2024-07-08 21:28:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21471', 'article_category_id' => '1', 'title' => 'Country Reports 38 Percent Rice Plantation', 'sub_title' => '', 'summary' => 'KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. As of Sunday, paddy cultivation has reached 38.6 percent, covering 539,766 hectares of land across all seven provinces.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Agriculture, Sudur Paschim Province has the highest rice plantation percentage at 54.2 percent, while Madhes has the lowest at 25.5 percent. The plantation percentages in other provinces as of July 7 are as follows: Koshi at 34.4 percent, Bagmati at 40.2 percent, Gandaki at 49.7 percent, Lumbini at 44.4 percent, and Karnali at 47.5 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Overall, rice is cultivated on a total of 1,398,273 hectares of land nationwide, with the largest area in Madhes Province covering 383,150 hectares and the smallest in Karnali at 41,904 hectares.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As of July 9 last year, the country had witnessed 42.9 percent rice plantation, the data shows.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Annually, Nepal produces an average of 5,700,000 metric tons of rice, while the demand stands at 6,200,000 metric tons, according to the Department's information officer, Tilak Raj Chaulagain. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21197', 'image' => '20240708041445_BR_JUMLA_IMG_20240707_100035_394(1).jpg', 'article_date' => '2024-07-08 16:14:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21470', 'article_category_id' => '1', 'title' => 'Traders Complain of Arbitrary Classification of Products to Increase Revenue', 'sub_title' => '', 'summary' => 'BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. According to the traders, this reclassification is aimed at generating higher revenue by placing goods in categories with higher tariffs to meet revenue collection targets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs office, however, claims that the changes to the Harmonized System (HS) codes were necessary due to some traders' tendencies to declare one product while importing another. The World Customs Organization created the HS code system to manage foreign trade, ensuring the first six digits are consistent globally, with the subsequent digits varying by country based on specific characteristics. This system is intended to facilitate uniform customs inspections and revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, traders argue that the Birgunj customs office has started reclassifying imported goods based on their own discretion, leading to increased costs of doing business. Importers report that since the decrease in foreign trade following the COVID-19 pandemic, customs authorities have been categorizing goods into the highest revenue-generating sections, pressuring them to comply.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Lath, General Secretary of Birgunj chapter of the FNCCI, criticized this practice, stating that while the HS code system is meant to ensure uniformity and facilitate foreign trade, its arbitrary reclassification for higher revenue is inappropriate. He called for the customs office to recognize the internationally accepted HS codes to avoid the difficulties businesses face with inconsistent classifications.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Traders have reported that the reclassification has particularly impacted the import of industrial equipment parts, increasing their costs. Chief Customs Administrator of Birgunj Customs, Dilaram Panthi, countered that the primary focus of customs is trade facilitation rather than revenue collection. However, he admitted that mistrust in importers has led to reclassifications, suggesting that reliability issues are at the root of the problem.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, Vice President of Birgunj chapter of the FNCCI, added that the reclassification has also affected the South Asian Free Trade Area (SAFTA) concessions, with importers losing benefits due to the changed HS codes. He reiterated the call for Nepal’s customs to accept internationally recognized codes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite these claims, customs officials maintain that the tightened HS codes are a response to traders' misdeclarations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to General Secretary Lath, importers have started opening Letters of Credit (LC) with double HS codes to navigate these classifications. Importers importing goods from India have had to mention codes for both countries in their LC, creating additional complications and highlighting the need for consistent HS code recognition.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21196', 'image' => '20240708040454_20210516024759_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2024-07-08 16:04:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21469', 'article_category_id' => '1', 'title' => 'NEPSE Drops 4.62 Points to Close at 2136.35', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 324scrips were traded through 59,974 transactions. A total of 10,475,181 units of shares were exchanged, resulting into a total turnover of Rs 4.56 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in terms of turnover, achieving Rs. 28.7 Crores and closing at Rs. 724 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) posted the highest gain for the day, surging by 9.68%. Conversely, Mailung Khola Jal Vidhyut Company Limited (MKJC) experienced the largest loss, dropping by 8.39%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, three sector indices ended the day in positive territory. The "Hotels and Tourism Index" recorded the highest sectoral loss of 0.95%, while the "Microfinance Index" saw the highest gain, increasing by 0.92%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21195', 'image' => '20240708033543_collage (60).jpg', 'article_date' => '2024-07-08 15:34:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21468', 'article_category_id' => '1', 'title' => 'Dairy Farmers Doubt Industries will Clear Arrears', 'sub_title' => '', 'summary' => 'July 8: Dairy farmers in Nepal are skeptical about the execution of a recent agreement for the payment of overdue milk arrears. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 8: Dairy farmers in Nepal are </span>skeptical about the execution of a recent agreement for the payment of overdue milk arrears. Despite multiple agreements between the government, farmers, and industrialists, the farmers have yet to receive the due payments. The latest agreement, reached on June 30, stipulated that industrialists would clear the dues up to April 12 by July 11. However, a week after the agreement, no payments have been made.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, noted that although the agreement promised payment by July 11, farmers have not received any payment. Doubts persist as previous agreements on December 12 and March 2 also failed to materialize.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers Cooperative Association, expressed his lack of confidence in the implementation of the agreement, citing the industrialists' failure to sell milk products as the reason for non-payment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Dairy Development Corporation (DDC), a government entity, has not made payments either, and private dairies have also withheld payments. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagale revealed he owes Rs 700,000 from various dairies over three months and threatened of "milk holidays" if farmers are not paid on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Farmers owe approximately Rs 4 billion from the DDC and private dairy industry, with the DDC's dues is about Rs 2 billion. Farmers protested in Kathmandu for payment despite the government’s crackdowns. The latest agreement sets a deadline of July 11 for the dairy industry to clear the arrears owed up to April 12. Additionally, arrears up to May 13 and June 14 must be paid by September 16, with future payments to be made in bi-monthly installments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Ram Prasad Acharya, general secretary of the Central Milk Producers Cooperative Association, warned that if the agreement is not honored, the government should penalize the industry. The reluctance of the ministry and private sector to enforce penalties on non-compliant industrialists raises questions about their commitment to the agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The dairy industry cites increased stockpiles of dairy products since April 2023 as the cause of payment issues. The National Dairy Development Board reports stockpiling of 1,400 metric tons of butter and 4,800 metric tons of milk powder, valued at Rs 5 billion, from April 2023 to March 2024, with the balance still increasing.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21194', 'image' => '20240708030357_1703036404.milk.jpg', 'article_date' => '2024-07-08 15:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21467', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Tighten Mobile Wallet Transactions Amid Security Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Nepal Rastra Bank had increased transaction limit for wallet companies and concessions were also given for remittance payments in order to encourage electronic payments. But these facilities were misused and therefore we decided to review the facilities given so far," said an official of Nepal Rastra Bank’s Payment System Department. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following investigations by the police, the central bank is analyzing wallet company transactions and plans to address issues in the next fiscal year's monetary policy. The Central Investigation Department (CIB) of Nepal Police found that electronic wallets were used for illegal payments during a gold smuggling investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the central bank has set a limit of Rs 200, 000 per day and Rs 1 million per month for mobile wallet transactions. However, wallet companies have arrangements with remittance companies allowing money from abroad to be deposited in electronic wallets in Nepal, beyond these limits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police investigations revealed that wallet companies Paywell and Easy Pay facilitated illegal payments under the guise of remittance transactions. These companies reportedly received remittances from Send Money Nepal and Namaste Remittance in Australia, using wallets for payments without central bank’s approval. The investigation found that the money originated from Hundi operations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, it was discovered that wallet companies issued more e-money than their bank account balances and provided inaccurate daily transaction details to Nepal Rastra Bank. Currently, nine payment system operators and 26 payment service providers operate under the central bank's regulations. Furthermore, 20 commercial banks, 16 development banks, 15 finance companies, and seven microfinance institutions have permission to operate electronic payment services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank's monitoring last year revealed that wallet company agents withdrew more money than allowed and failed to maintain up-to-date customer records. The annual monitoring report from the Payment System Department highlighted that payment system operators (PSOs) and payment service providers (PSPs) lack adequate physical and technical infrastructure and exhibit poor governance. The department conducted on-site monitoring of three PSOs and 12 PSPs last fiscal year. Additionally, 6 PSOs and 21 PSPs were monitored off-site. The central bank has taken corrective actions against companies that performed unsatisfactorily during monitoring.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21193', 'image' => '20240708123917_1699613044.wallet.jpg', 'article_date' => '2024-07-08 12:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21465', 'article_category_id' => '1', 'title' => 'Government Accounts to Freeze from Tonight for Year-End Procedures', 'sub_title' => '', 'summary' => 'KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). This closure, mandated by Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, 2077, applies to accounts operated by the Financial Comptroller General Office (FCGO), Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to FCGO spokesperson Om Prasad Rijal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Starting Monday night, the Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) will be closed for one week," Rijal said. He clarified that there is no formal circular for this action, but no budget payments will be processed after Monday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal emphasized that all accounts used for disbursing federal, provincial, and local budgets will be closed for a week, necessitating that all budget payment obligations for the current fiscal year (FY) 2080-81 be settled by Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations requires that payments be halted one week before the end of the fiscal year. No payments can be made except for those specified by the Appropriation Act as not to be 'frozen.' However, the regulations allow for payments for urgent purposes with the consent of the FCGO.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21191', 'image' => '20240708105918_FCGO.jpg', 'article_date' => '2024-07-08 10:58:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21464', 'article_category_id' => '1', 'title' => '62 Dead Since the Onset of Monsoon this Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. The monsoon started from June 10, three days before the expected date.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The figures were released by the National Disaster Risk Reduction and Management Authority (NDRRMA) and the National Emergency Operation Centre under the Ministry of Home Affairs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the centre, 17 people killed due to floods during the review period including one person in Morang, three in Dang, one in Kailali, two in Kavrepalanchowk, one in Udayapur, and nine in Palpa. Two people are missing due to flooding. Five houses were washed away, and eleven houses were partially damaged by floods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34 people lost their lives due to landslides. According to the NDRRMA’s data, two people went missing and 38 were injured due to landslides. Additionally, 43 houses have been completely damaged by landslides, and 24 houses have been partially damaged. Nineteen sheds were damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, eleven houses were completely damaged, and six houses were partially damaged due to inundation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NDRRMA, floods and landslides have caused damage equivalent to Rs 8.6 million rupees so far. Furthermore, 19 people died and 35 were injured due to lightning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Monsoon-related incidents such as floods, landslides, inundation, and lightning are still increasing. We are coordinating with relevant agencies to reduce the damage," said Dr. Dijan Bhattarai, the spokesperson for the Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This year, it is estimated that there will be more rain than average and 1.8 million people will be affected, so it is important to be cautious, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, during this year's monsoon period, it is estimated that 412,000 households will be affected by monsoon-related disasters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunil Pokharel, the spokesperson of the Department of Meteorology, informed that the risk of flooding will decrease throughout the country from Monday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21190', 'image' => '20240708102059_jpg.jpg', 'article_date' => '2024-07-08 10:19:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21463', 'article_category_id' => '1', 'title' => 'Diyalo Bangla Opens to the Public in Chitwan', 'sub_title' => '', 'summary' => 'The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The decision to open Diyalo Bangla, which is now managed by the Nepal Trust, was made at the request of the Bharatpur Metropolitan City Office. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the opening ceremony, Minister Tamang highlighted the significance of the palace for both visitors and researchers. He emphasized that this move would contribute significantly to the success of Bharatpur Visit Year 2024.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Minister Tamang also noted that the expansion of Bharatpur Airport to accommodate night flights is expected to boost tourism and increase the number of visitors to the palace.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Bharatpur, Renu Dahal, stated that the opening of the palace was a result of a consensus with the Nepal Trust. She assured that the public can now visit the palace, satisfying their curiosity. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Until an official guideline is established for the systematic operation of Diyalo Bangla, visitors will enjoy free entrance. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor Dahal added that the metropolitan city is actively promoting the palace as a key tourist destination.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The agreement between the Nepal Trust and Bharatpur Metropolitan City stipulates that revenue generated from the palace will be shared, with 60% allocated to the Nepal Trust. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21189', 'image' => '20240708055304_collage (59).jpg', 'article_date' => '2024-07-08 05:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '21462', 'article_category_id' => '1', 'title' => 'National Assembly Endorses Bill on Amending Some Nepal's Acts for Promoting Investment', 'sub_title' => '', 'summary' => 'KATHMANDU: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">KATHMANDU: </span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">A session of the upper house on Sunday passed the Bill along with the message from the House of Representatives regarding the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Minister for Communications and Information Technology, Rekha Sharma, presented the Bill before the session on behalf of Prime Minister Pushpa Kamal Dahal who is also in charge of the Ministry of Industry, Commerce and Supplies. The minister proposed the session to pass the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">National Assembly member Sonam Gyaljen Sherpa demanded the government present a clear modality of investment for the people of the buffer zone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Tul Prasad Bishwakarma urged the government to bear in mind the existing Foreign Investment and Technology Transfer Act while proceeding with the Bill while Bhagawati Neupane stressed the need for cooperation among the federal, province, and local governments in the course of implementing a project or operating industry along the buffer zones.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">In response to lawmakers' queries, Minister Sharma said the amendment of some laws was mandated as per Nepal's commitments to enabling an investment-friendly atmosphere in the country it made during the April 28-29 Investment Summit. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">She said that revisions to the National Park Act, 2039 BS and the Forest Act are necessary and the relevant issues raised here will be further discussed and clarified during the amendment of those acts. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly shall meet again at 1:15 PM on July 11, Thursday. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21188', 'image' => '20240707061350_20240514115805_Parliament.jpg', 'article_date' => '2024-07-07 18:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21461', 'article_category_id' => '1', 'title' => 'CIAA's Annual Report Tabled in House of Representatives', 'sub_title' => '', 'summary' => 'The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 7: The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's House meeting, Minister for Labour, Employment, and Social Security Dol Prasad Aryal tabled the report on behalf of Prime Minister Pushpa Kamal Dahal 'Prachanda'.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Secretary of the House of Representatives Suresh Adhikari announced the message received from the National Assembly regarding the 'Appropriation Bill, 2081,' which originated in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaker Devraj Ghimire also informed the House about the letters received from the President's office concerning the authentication of the bill and the allocation of ministry portfolios. 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The Council of Ministers decided to establish 'Dhaubadi Iron Company Limited' on August 21, 2019. The company was registered with the company registrar's office on September 26 the same year, under the name "Dhaubadi Iron Company Limited," and has been operating since February 2020.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">India's M & Dastur, SRK, and Nepal's Z Company spent eight months exploring iron ore in the area. The study report indicates that iron production can begin from 2027 onwards.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The Chief Executive Officer (CEO) of the company, Dr. Janak Bahadur Chand, stated that a detailed feasibility study for establishing an iron/steel industry based on the Dhaubadi iron ore mine has been completed, and the final report has been received.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The study suggests that iron and steel production is feasible from both technical and financial perspectives. The company is now planned for seismic assessments, environmental impact assessments, and the preparation of a detailed project report.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Dr. Chand said that once the industry starts operation, around 2,000 to 2,500 individuals will be employed directly, with an additional 20,000 to 25,000 employed indirectly.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The project is estimated to cost Rs 51.25 billion. It is anticipated that the company will take seven years to achieve profitability and recover its initial investment. Land acquisition processes have already commenced in Kawasoti and Devchuli municipalities in East Nawalparasi for the establishment of the industry.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">It is estimated that there is a deposit of 99 million tonnes of iron ore in the area, of which 96 million tonnes can be extracted. The company’s chairperson and the department’s director-general Ram Prasad Ghimire said that the department has been studying the mine since 2011. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21206', 'image' => '20240709103307_20240708093843_20220328101003_1648364690.धौबादी_फलाम_कम्पनी_लिमिटेड.jpg', 'article_date' => '2024-07-09 10:32:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '21479', 'article_category_id' => '1', 'title' => 'New Monetary Policy will Boost Confidence of Private Sector: NRB Governor', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt"><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: </span></span><span style="font-size:13.5pt">The Nepal Rastra Bank (NRB) is preparing the upcoming fiscal year's monetary policy to boost confidence in the private sector, ensure market vitality, and end the country's economic slowdown.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">During a discussion of the Finance Committee of the House of Representatives (HoR) on Monday, NRB Governor Maha Prasad Adhikari stated that the forthcoming monetary policy will support the government's fiscal policy and promote market confidence. He emphasized that this policy aims to contribute to the government's target of achieving a 6 percent annual economic growth rate.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">"Business confidence has decreased. We need to implement positive interventions to uplift confidence and ensure positive outcomes," said Governor Adhikari. He also noted that the construction and industrial sectors have experienced negative growth recently.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">The governor highlighted that the economy, still recovering from the impacts of the COVID-19 pandemic, has not yet become vibrant. Despite lower interest rates, the demand for loans has not increased, and loans have not expanded in the productive sector.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.5pt">Finance Secretary Madhu Kumar Marasini expressed confidence that the monetary policy will help implement the government's policy and program document and budget. "The monetary policy should create a favorable environment to achieve the targeted economic growth rate through capital mobilization," Secretary Marasini stated. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21205', 'image' => '20240709093116_20240708073923_KRB-KTM-24image_123650291(2)copy.jpg', 'article_date' => '2024-07-09 09:30:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21478', 'article_category_id' => '1', 'title' => 'NRB Furnishes Five-Point Suggestion to Address Problems of Problematic Cooperatives ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.', 'content' => '<p><span style="font-size:18px">KATHMANDU: The Nepal Rastra Bank (NRB) has presented five-point suggestions to address the issues of problematic financial cooperatives.</span></p> <p><span style="font-size:18px">Speaking at a meeting of the parliamentary probe special committee, formed to investigate the misuse of depositors' savings in financial cooperatives, NRB Governor Maha Prasad Adhikari on Monday shared that the problems in the cooperative sector could be resolved by following the five-point suggestions.</span></p> <p><span style="font-size:18px">Governor Adhikari suggested returning the savings of the depositors in three phases: up to Rs 100,000 in the first phase, up to Rs 500,000 in the second phase, and amounts over Rs 500,000 in the third phase.</span></p> <p><span style="font-size:18px">The NRB has proposed forming a dedicated group to resolve these issues and to adopt measures similar to those used in addressing the problems of troubled banks. He also advised making necessary arrangements for cooperatives that have operated without geographical restrictions.</span></p> <p><span style="font-size:18px">Anil Chandra Adhikari, Chief Executive Officer of the Credit Information Bureau, suggested establishing an integrated information system at the Bureau and creating separate information bureaus for insurance and cooperatives.</span></p> <p><span style="font-size:18px">Sunil KC, president of the Nepal Bankers' Association, warned of potential problems in other financial institutions similar to those faced by cooperatives and emphasized the need for prompt resolution.</span></p> <p><span style="font-size:18px">Dr Jay Kanta Raut, coordinator of the erstwhile cooperative suggestion taskforce, explained that the problems in the cooperative sector are increasing due to the lack of implementation of suggestions. He noted that most financial cooperatives are operating against the norms, values, and principles of cooperatives.</span></p> <p><span style="font-size:18px">Experts emphasized the need for establishing a Credit Recovery Tribunal in the financial cooperatives sector.</span></p> <p><span style="font-size:18px">Chairperson of the Special Committee, Surya Bahadur Thapa, stated that the committee has not yet started discussions on whether the government should compensate the depositors of the troubled cooperatives. The focus remains on the cooperatives' primary responsibility to return the depositors' savings.</span></p> <p><span style="font-size:18px">Former registrars of the Department of Cooperatives who have served since 2048 BS have been invited for the next meeting scheduled for Tuesday, July 9. Additionally, discussions will be held with victims of the financial cooperatives in future meetings. -- RSS</span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => 'NRB, Nepal, Bank, cooperatives, suggestion, problematic', 'description' => '', 'sortorder' => '21204', 'image' => '20240709091058_20240708084654_20220123032134_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2024-07-09 09:08:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21477', 'article_category_id' => '1', 'title' => 'FNCCI to Elect President Through Direct Election', 'sub_title' => '', 'summary' => 'The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Federation of Nepalese Chambers of Commerce and Industry (FNCCI) has changed its presidential election process. The President of the umbrella organization will be elected through a direct vote.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The change marks departure from the previous system where the senior vice president would automatically assume the top position.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">This decision was made during a meeting of the FNCCI working committee on Monday, which resulted in an amendment to the organization's statute. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Chandra Prasad Dhakal confirmed that the amendment was passed unanimously by the working committee.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The new election process will take effect from the next term, following the tenure of the current senior vice president, who will serve as FNCCI President.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Additionally, the amended statute introduces the position of two senior vice presidents, aiming to enhance the leadership structure within the organization. (RSS)</span></span></p> ', 'published' => true, 'created' => '2024-07-09', 'modified' => '2024-07-09', 'keywords' => '', 'description' => '', 'sortorder' => '21203', 'image' => '20240709062249_collage (61).jpg', 'article_date' => '2024-07-09 06:21:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '21475', 'article_category_id' => '1', 'title' => 'Floods and Landslides Kill 70 People So Far', 'sub_title' => '', 'summary' => 'KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Seventy people have lost their lives so far in natural disasters such as floods and landslides triggered by incessant rains, according to the Police Headquarters. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Central Police Spokesperson, Deputy Inspector General Dan Bahadur Karki told RSS that 70 people have died, 86 have been injured and five people have gone missing so far in incidents of floods and landslides occurred throughout the country from June 10 to July 8. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police said people injured in such incidents are undergoing treatment at local hospitals. Nine hundred and sixty-six incidents of flooding and landslides have occurred during this period, in which 86 houses have been damaged and 335 cattle head have perished. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Police Headquarters, 4,790 police personnel have been mobilized in rescue and relief works during this period. The damage due to the monsoon-related disasters is equivalent to Rs 95.67 million, said the Police Headquarters. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21201', 'image' => '20240708092940_KDN-Dang-DJI_0936.jpg', 'article_date' => '2024-07-08 21:28:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21471', 'article_category_id' => '1', 'title' => 'Country Reports 38 Percent Rice Plantation', 'sub_title' => '', 'summary' => 'KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: With the monsoon gaining momentum, rice plantations across the country are progressing steadily. As of Sunday, paddy cultivation has reached 38.6 percent, covering 539,766 hectares of land across all seven provinces.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the Department of Agriculture, Sudur Paschim Province has the highest rice plantation percentage at 54.2 percent, while Madhes has the lowest at 25.5 percent. The plantation percentages in other provinces as of July 7 are as follows: Koshi at 34.4 percent, Bagmati at 40.2 percent, Gandaki at 49.7 percent, Lumbini at 44.4 percent, and Karnali at 47.5 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Overall, rice is cultivated on a total of 1,398,273 hectares of land nationwide, with the largest area in Madhes Province covering 383,150 hectares and the smallest in Karnali at 41,904 hectares.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As of July 9 last year, the country had witnessed 42.9 percent rice plantation, the data shows.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Annually, Nepal produces an average of 5,700,000 metric tons of rice, while the demand stands at 6,200,000 metric tons, according to the Department's information officer, Tilak Raj Chaulagain. -- RSS</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21197', 'image' => '20240708041445_BR_JUMLA_IMG_20240707_100035_394(1).jpg', 'article_date' => '2024-07-08 16:14:15', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21470', 'article_category_id' => '1', 'title' => 'Traders Complain of Arbitrary Classification of Products to Increase Revenue', 'sub_title' => '', 'summary' => 'BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIRGUNJ: Traders have raised concerns about the country's largest customs office, Birgunj, arbitrarily changing the customs codes for imported goods. According to the traders, this reclassification is aimed at generating higher revenue by placing goods in categories with higher tariffs to meet revenue collection targets.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The customs office, however, claims that the changes to the Harmonized System (HS) codes were necessary due to some traders' tendencies to declare one product while importing another. The World Customs Organization created the HS code system to manage foreign trade, ensuring the first six digits are consistent globally, with the subsequent digits varying by country based on specific characteristics. This system is intended to facilitate uniform customs inspections and revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, traders argue that the Birgunj customs office has started reclassifying imported goods based on their own discretion, leading to increased costs of doing business. Importers report that since the decrease in foreign trade following the COVID-19 pandemic, customs authorities have been categorizing goods into the highest revenue-generating sections, pressuring them to comply.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ashish Lath, General Secretary of Birgunj chapter of the FNCCI, criticized this practice, stating that while the HS code system is meant to ensure uniformity and facilitate foreign trade, its arbitrary reclassification for higher revenue is inappropriate. He called for the customs office to recognize the internationally accepted HS codes to avoid the difficulties businesses face with inconsistent classifications.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Traders have reported that the reclassification has particularly impacted the import of industrial equipment parts, increasing their costs. Chief Customs Administrator of Birgunj Customs, Dilaram Panthi, countered that the primary focus of customs is trade facilitation rather than revenue collection. However, he admitted that mistrust in importers has led to reclassifications, suggesting that reliability issues are at the root of the problem.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhav Rajpal, Vice President of Birgunj chapter of the FNCCI, added that the reclassification has also affected the South Asian Free Trade Area (SAFTA) concessions, with importers losing benefits due to the changed HS codes. He reiterated the call for Nepal’s customs to accept internationally recognized codes.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite these claims, customs officials maintain that the tightened HS codes are a response to traders' misdeclarations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to General Secretary Lath, importers have started opening Letters of Credit (LC) with double HS codes to navigate these classifications. Importers importing goods from India have had to mention codes for both countries in their LC, creating additional complications and highlighting the need for consistent HS code recognition.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21196', 'image' => '20240708040454_20210516024759_20210118020708_1610926784.Clipboard08.jpg', 'article_date' => '2024-07-08 16:04:23', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '21469', 'article_category_id' => '1', 'title' => 'NEPSE Drops 4.62 Points to Close at 2136.35', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The Nepal Stock Exchange (NEPSE) Index saw a decline of 4.62 points today, a drop of 0.21%, closing at 2,136.35 points on the second trading day of the week on Monday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 324scrips were traded through 59,974 transactions. A total of 10,475,181 units of shares were exchanged, resulting into a total turnover of Rs 4.56 billion. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">NRN Infrastructure and Development Limited (NRN) led the market in terms of turnover, achieving Rs. 28.7 Crores and closing at Rs. 724 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Samaj Laghubittya Bittiya Sanstha Limited (SAMAJ) posted the highest gain for the day, surging by 9.68%. Conversely, Mailung Khola Jal Vidhyut Company Limited (MKJC) experienced the largest loss, dropping by 8.39%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In sector performance, three sector indices ended the day in positive territory. The "Hotels and Tourism Index" recorded the highest sectoral loss of 0.95%, while the "Microfinance Index" saw the highest gain, increasing by 0.92%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21195', 'image' => '20240708033543_collage (60).jpg', 'article_date' => '2024-07-08 15:34:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21468', 'article_category_id' => '1', 'title' => 'Dairy Farmers Doubt Industries will Clear Arrears', 'sub_title' => '', 'summary' => 'July 8: Dairy farmers in Nepal are skeptical about the execution of a recent agreement for the payment of overdue milk arrears. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">July 8: Dairy farmers in Nepal are </span>skeptical about the execution of a recent agreement for the payment of overdue milk arrears. Despite multiple agreements between the government, farmers, and industrialists, the farmers have yet to receive the due payments. The latest agreement, reached on June 30, stipulated that industrialists would clear the dues up to April 12 by July 11. However, a week after the agreement, no payments have been made.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Thaneshwar Sapkota, chairman of the Central Milk Producers Cooperative Association, noted that although the agreement promised payment by July 11, farmers have not received any payment. Doubts persist as previous agreements on December 12 and March 2 also failed to materialize.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Kishore Bagale, chairman of the Chitwan District Milk Producers Cooperative Association, expressed his lack of confidence in the implementation of the agreement, citing the industrialists' failure to sell milk products as the reason for non-payment. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The Dairy Development Corporation (DDC), a government entity, has not made payments either, and private dairies have also withheld payments. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Bagale revealed he owes Rs 700,000 from various dairies over three months and threatened of "milk holidays" if farmers are not paid on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Farmers owe approximately Rs 4 billion from the DDC and private dairy industry, with the DDC's dues is about Rs 2 billion. Farmers protested in Kathmandu for payment despite the government’s crackdowns. The latest agreement sets a deadline of July 11 for the dairy industry to clear the arrears owed up to April 12. Additionally, arrears up to May 13 and June 14 must be paid by September 16, with future payments to be made in bi-monthly installments.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">Ram Prasad Acharya, general secretary of the Central Milk Producers Cooperative Association, warned that if the agreement is not honored, the government should penalize the industry. The reluctance of the ministry and private sector to enforce penalties on non-compliant industrialists raises questions about their commitment to the agreement. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Arial","sans-serif"">The dairy industry cites increased stockpiles of dairy products since April 2023 as the cause of payment issues. The National Dairy Development Board reports stockpiling of 1,400 metric tons of butter and 4,800 metric tons of milk powder, valued at Rs 5 billion, from April 2023 to March 2024, with the balance still increasing.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21194', 'image' => '20240708030357_1703036404.milk.jpg', 'article_date' => '2024-07-08 15:03:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21467', 'article_category_id' => '1', 'title' => 'Nepal Rastra Bank to Tighten Mobile Wallet Transactions Amid Security Concerns', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Nepal Rastra Bank, which previously adopted a flexible policy to promote electronic payments via mobile wallets, is now tightening regulations due to increasing transaction risks.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Nepal Rastra Bank had increased transaction limit for wallet companies and concessions were also given for remittance payments in order to encourage electronic payments. But these facilities were misused and therefore we decided to review the facilities given so far," said an official of Nepal Rastra Bank’s Payment System Department. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Following investigations by the police, the central bank is analyzing wallet company transactions and plans to address issues in the next fiscal year's monetary policy. The Central Investigation Department (CIB) of Nepal Police found that electronic wallets were used for illegal payments during a gold smuggling investigation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Currently, the central bank has set a limit of Rs 200, 000 per day and Rs 1 million per month for mobile wallet transactions. However, wallet companies have arrangements with remittance companies allowing money from abroad to be deposited in electronic wallets in Nepal, beyond these limits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Police investigations revealed that wallet companies Paywell and Easy Pay facilitated illegal payments under the guise of remittance transactions. These companies reportedly received remittances from Send Money Nepal and Namaste Remittance in Australia, using wallets for payments without central bank’s approval. The investigation found that the money originated from Hundi operations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Additionally, it was discovered that wallet companies issued more e-money than their bank account balances and provided inaccurate daily transaction details to Nepal Rastra Bank. Currently, nine payment system operators and 26 payment service providers operate under the central bank's regulations. Furthermore, 20 commercial banks, 16 development banks, 15 finance companies, and seven microfinance institutions have permission to operate electronic payment services.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The central bank's monitoring last year revealed that wallet company agents withdrew more money than allowed and failed to maintain up-to-date customer records. The annual monitoring report from the Payment System Department highlighted that payment system operators (PSOs) and payment service providers (PSPs) lack adequate physical and technical infrastructure and exhibit poor governance. The department conducted on-site monitoring of three PSOs and 12 PSPs last fiscal year. Additionally, 6 PSOs and 21 PSPs were monitored off-site. The central bank has taken corrective actions against companies that performed unsatisfactorily during monitoring.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21193', 'image' => '20240708123917_1699613044.wallet.jpg', 'article_date' => '2024-07-08 12:38:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21465', 'article_category_id' => '1', 'title' => 'Government Accounts to Freeze from Tonight for Year-End Procedures', 'sub_title' => '', 'summary' => 'KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: All government accounts will be closed for a week starting at midnight today (July 8). This closure, mandated by Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations, 2077, applies to accounts operated by the Financial Comptroller General Office (FCGO), Provincial Financial Comptroller General Offices (PFCGO), and the Treasury and Finance Controller Offices of all districts, according to FCGO spokesperson Om Prasad Rijal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Starting Monday night, the Sub-National Treasury Regulatory Application (SuTRA), Treasury Single Account System (TSA), and Computerized Government Accounting System (CGAS) will be closed for one week," Rijal said. He clarified that there is no formal circular for this action, but no budget payments will be processed after Monday night.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rijal emphasized that all accounts used for disbursing federal, provincial, and local budgets will be closed for a week, necessitating that all budget payment obligations for the current fiscal year (FY) 2080-81 be settled by Monday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Rule 30 of the Financial Procedures and Fiscal Responsibility Regulations requires that payments be halted one week before the end of the fiscal year. No payments can be made except for those specified by the Appropriation Act as not to be 'frozen.' However, the regulations allow for payments for urgent purposes with the consent of the FCGO.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21191', 'image' => '20240708105918_FCGO.jpg', 'article_date' => '2024-07-08 10:58:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21464', 'article_category_id' => '1', 'title' => '62 Dead Since the Onset of Monsoon this Year', 'sub_title' => '', 'summary' => 'KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Since the onset of the monsoon, 62 people have been killed, four are missing, and 90 have been injured due to monsoon-related disasters such as floods, landslides, and lightning. The monsoon started from June 10, three days before the expected date.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The figures were released by the National Disaster Risk Reduction and Management Authority (NDRRMA) and the National Emergency Operation Centre under the Ministry of Home Affairs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the centre, 17 people killed due to floods during the review period including one person in Morang, three in Dang, one in Kailali, two in Kavrepalanchowk, one in Udayapur, and nine in Palpa. Two people are missing due to flooding. Five houses were washed away, and eleven houses were partially damaged by floods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, 34 people lost their lives due to landslides. According to the NDRRMA’s data, two people went missing and 38 were injured due to landslides. Additionally, 43 houses have been completely damaged by landslides, and 24 houses have been partially damaged. Nineteen sheds were damaged. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, eleven houses were completely damaged, and six houses were partially damaged due to inundation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NDRRMA, floods and landslides have caused damage equivalent to Rs 8.6 million rupees so far. Furthermore, 19 people died and 35 were injured due to lightning.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"Monsoon-related incidents such as floods, landslides, inundation, and lightning are still increasing. We are coordinating with relevant agencies to reduce the damage," said Dr. Dijan Bhattarai, the spokesperson for the Authority.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">This year, it is estimated that there will be more rain than average and 1.8 million people will be affected, so it is important to be cautious, he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to him, during this year's monsoon period, it is estimated that 412,000 households will be affected by monsoon-related disasters.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Sunil Pokharel, the spokesperson of the Department of Meteorology, informed that the risk of flooding will decrease throughout the country from Monday. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21190', 'image' => '20240708102059_jpg.jpg', 'article_date' => '2024-07-08 10:19:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21463', 'article_category_id' => '1', 'title' => 'Diyalo Bangla Opens to the Public in Chitwan', 'sub_title' => '', 'summary' => 'The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.', 'content' => '<p> </p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">July 8: The historic Diyalo Bangla in Bharatpur was opened to the general public on Sunday. The inauguration was conducted by Minister for Culture, Tourism, and Civil Aviation, Hit Bahadur Tamang.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The decision to open Diyalo Bangla, which is now managed by the Nepal Trust, was made at the request of the Bharatpur Metropolitan City Office. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During the opening ceremony, Minister Tamang highlighted the significance of the palace for both visitors and researchers. He emphasized that this move would contribute significantly to the success of Bharatpur Visit Year 2024.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> Minister Tamang also noted that the expansion of Bharatpur Airport to accommodate night flights is expected to boost tourism and increase the number of visitors to the palace.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor of Bharatpur, Renu Dahal, stated that the opening of the palace was a result of a consensus with the Nepal Trust. She assured that the public can now visit the palace, satisfying their curiosity. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Until an official guideline is established for the systematic operation of Diyalo Bangla, visitors will enjoy free entrance. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Mayor Dahal added that the metropolitan city is actively promoting the palace as a key tourist destination.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">The agreement between the Nepal Trust and Bharatpur Metropolitan City stipulates that revenue generated from the palace will be shared, with 60% allocated to the Nepal Trust. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-08', 'modified' => '2024-07-08', 'keywords' => '', 'description' => '', 'sortorder' => '21189', 'image' => '20240708055304_collage (59).jpg', 'article_date' => '2024-07-08 05:51:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '21462', 'article_category_id' => '1', 'title' => 'National Assembly Endorses Bill on Amending Some Nepal's Acts for Promoting Investment', 'sub_title' => '', 'summary' => 'KATHMANDU: The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">KATHMANDU: </span></span></span><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly has unanimously endorsed the Bill to Amend Some Nepal Acts, aiming to enable an atmosphere conducive for investment.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">A session of the upper house on Sunday passed the Bill along with the message from the House of Representatives regarding the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Minister for Communications and Information Technology, Rekha Sharma, presented the Bill before the session on behalf of Prime Minister Pushpa Kamal Dahal who is also in charge of the Ministry of Industry, Commerce and Supplies. The minister proposed the session to pass the Bill. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">National Assembly member Sonam Gyaljen Sherpa demanded the government present a clear modality of investment for the people of the buffer zone. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">Tul Prasad Bishwakarma urged the government to bear in mind the existing Foreign Investment and Technology Transfer Act while proceeding with the Bill while Bhagawati Neupane stressed the need for cooperation among the federal, province, and local governments in the course of implementing a project or operating industry along the buffer zones.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">In response to lawmakers' queries, Minister Sharma said the amendment of some laws was mandated as per Nepal's commitments to enabling an investment-friendly atmosphere in the country it made during the April 28-29 Investment Summit. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">She said that revisions to the National Park Act, 2039 BS and the Forest Act are necessary and the relevant issues raised here will be further discussed and clarified during the amendment of those acts. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:13.0pt">The National Assembly shall meet again at 1:15 PM on July 11, Thursday. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21188', 'image' => '20240707061350_20240514115805_Parliament.jpg', 'article_date' => '2024-07-07 18:12:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21461', 'article_category_id' => '1', 'title' => 'CIAA's Annual Report Tabled in House of Representatives', 'sub_title' => '', 'summary' => 'The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">July 7: The 33rd Annual Report of the Commission for the Investigation of Abuse of Authority (CIAA) for the fiscal year 2023-24 has been presented in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In today's House meeting, Minister for Labour, Employment, and Social Security Dol Prasad Aryal tabled the report on behalf of Prime Minister Pushpa Kamal Dahal 'Prachanda'.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Additionally, Secretary of the House of Representatives Suresh Adhikari announced the message received from the National Assembly regarding the 'Appropriation Bill, 2081,' which originated in the House of Representatives.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Speaker Devraj Ghimire also informed the House about the letters received from the President's office concerning the authentication of the bill and the allocation of ministry portfolios. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-07-07', 'modified' => '2024-07-07', 'keywords' => '', 'description' => '', 'sortorder' => '21187', 'image' => '20240707044333_collage (27).jpg', 'article_date' => '2024-07-07 16:42:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
