June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and…
June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and…
June 11: The scorching heat has thrown life of people out of gear since the last few…
Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social…
Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents…
Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health.…
June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on…
Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan…
The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has…
June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late.…
June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park.…
June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year.…
June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank…
June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous…
Nepal's foreign exchange reserves have significantly surged. The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until…
June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taking part in the deliberations on the government's estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This budget lacks coherence and consistency with its policies and programmes and principles and priorities," he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government’s capacity to effectively steer the national economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The existing scenario of the capital market reflects the situation of the national economy," he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover. The market capitalization has shrunk from Rs 450 billion to Rs 280 billion," Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year's current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute," argued the former finance minister.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Removing and downsizing the capacity of the past programmes like the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in 'changing the game’ but only in 'changing the name', Poudel sarcastically said of the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. "Rather, it is like the continuation of the past programmes ," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17872', 'image' => '20230611103536_NP_KTM-_0D3A8145.jpg', 'article_date' => '2023-06-11 22:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18141', 'article_category_id' => '1', 'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD', 'sub_title' => '', 'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 11: The scorching heat has thrown life of people out of gear since the last few days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. "Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17871', 'image' => '20230611063504_20210626022910_Monsoon.jpeg', 'article_date' => '2023-06-11 18:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18140', 'article_category_id' => '1', 'title' => 'Shangri-la Development Bank Supports Nirdhan Utthan Sanjivani Health Foundation', 'sub_title' => '', 'summary' => 'Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As part of the assistance, Sangrila Development Bank Limited has made available Semi Folding Beds, Normal Wheelchairs, and IV Stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Bank’s Nepalgunj Cluster in-charge Jayandra Bahadur Khadka handed over the items to the representatives of Health Foundation at their office in Kohalpur-9, Jhandahawagadi, Banke last Thursday. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17870', 'image' => '20230611061512_collage (20).jpg', 'article_date' => '2023-06-11 18:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18139', 'article_category_id' => '1', 'title' => 'NC General Secretary Gagan Thapa Calls for Independent Review of the Budget', 'sub_title' => '', 'summary' => 'Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Speaking in a parliamentary session in the House of Representatives on the budget on Sunday, Thapa highlighted the need for independent agencies to carry out the budget review, stating that it was unbecoming for the ministry to review its own proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"The Ministry of Finance is responsible for preparing and presenting the budget. It is unbecoming for the ministry to review the budget presented by itself. Other agencies will have to carry out the review of the budget,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">Thapa also raised questions about the role of parliamentarians in the discussion on the budget in the parliament. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"Parliamentarians do not study, they lack facts, and figures related to the budget. They only use the </span>platform to express personal grievances and aggression.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">No parliamentarian has ever raised serious question about the budget and its implication, he added. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17869', 'image' => '20230611044413_collage (19).jpg', 'article_date' => '2023-06-11 16:42:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18138', 'article_category_id' => '1', 'title' => 'Kumari Bank Limited Provides Rs 2.5 Million to Kathmandu Institute of Child Health', 'sub_title' => '', 'summary' => 'Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A memorandum of understanding (MOU) was signed between the CEO of the bank, Ramesh Raj Aryal, and the founder chairman of the institution, Prof. Dr. Bhagwan Koirla, in the presence of other officials from both organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The institution will provide affordable, accessible, and multi-specialized health services for quality life of children. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The financial aid will be used to the institute’s under-construction hospital building at Budhanilkantha Municipality-7, Kathmandu.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17868', 'image' => '20230611041302_collage (18).jpg', 'article_date' => '2023-06-11 16:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18137', 'article_category_id' => '1', 'title' => 'Delay in Construction Projects Prompts Cancellation of Contracts', 'sub_title' => '', 'summary' => 'June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although deadlines were extended repeatedly, the negligent contractors kept on dilly-dallying the construction works for a long time resulting in nullifying of the contracts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to Nareshman Shakya, chief of the Division of Bridge under the DoR, the department initially extends the deadline of construction work in case of delay. However, the contract will be scrapped if there is no condition for the construction company to deliver the work on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The contract for the construction of a bridge over the Trishuli River at Battar has been annulled. The process to take forward the remaining works through a new contract is due, said Shakya. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"If the notice is issued in the ongoing fiscal year, the construction work would start at the beginning of the next fiscal year," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Not all construction companies are negligent. Some are very responsible too. For instance, there is a construction company that is repairing the bridge linking Dhanusha district with Siraha, Shakya informed. He shared that two other contracts, however, are on the verge of being annulled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Shakya shared that some processes like publishing notice have to be fulfilled before annulling the contract and so it will take some time to complete the process.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, the same company would be given an opportunity if the construction entrepreneur comes forward expressing commitment to carry out the work even when the process for action is initiated. Shakya said that the contract would be annulled only if the progress of work is not satisfactory or when work has not been carried out at all.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"We give an opportunity to continue the work to the contractors who give us convincing reasons with strong evidence that they can complete the work on time," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Engineer Suraj Adhikari shared that there were several ‘problematic contracts' in the under-construction 400 kilometers road of the Mid-hill Highway. He informed that the contract for the construction of the Bheri Bridge had been rescinded some time back as the construction works remained in limbo for a long time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Five contracts have been annulled in the current fiscal year in Panchthar. Shakya said the contract had to be called off after the contractor failed to carry out works despite extending the contract many times.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has forwarded the process of construction of a bridge over the Jabdighat Khola in Bardia by hiring a new contractor some time back after calling off the contract with the previous contractor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the contract for the Balaju-Trishuli road has also been annulled after the contractor made no progress for a long time. Earlier, there was a practice of extending the contract period of projects which remained stalled for long in the past years, sometimes citing the COVID-19 pandemic and sometimes pointing to the amendment of the Public Procurement Regulations. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">But nowadays, not only the Department of Roads but the Ministry of Physical Infrastructure and Transport is showing its interest in managing the so-called problematic contracts'. Ever since he took charge of the Ministry of Physical Infrastructure and Transport, Minister Prakash Jwala has shown his eagerness in annulling the contracts of the contractors not carrying out their works and keeping the construction projects in limbo for a long time.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17867', 'image' => '20230611110903_construction.jpg', 'article_date' => '2023-06-11 11:08:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18136', 'article_category_id' => '1', 'title' => 'Three Arrested For Scamming People by Creating Facebook Page Home and Land Loan Service ', 'sub_title' => '', 'summary' => 'Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service." </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested individuals are Nakul Chalise, Akash Bhattarai, and Ram Chandra Chalise, all aged 27.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested had allegedly created a loan service page on Facebook four months ago, claiming that they provide loans for purchasing houses and land. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">They lured various individuals by promising to provide loans and asked them to contact them. They had defrauded different people by taking checks and cash totaling Rs 5,720,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Furthermore, they are found to have misused another person's citizenship, opened bank accounts in various banks, involved in fraudulent activities by issuing checks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The District Police Office Kathmandu has arrested them for their alleged involvement in fraud and banking offenses. “Police have launched an investigation into them,” said a source at Kathmandu District Police Office. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17866', 'image' => '20230611064202_collage (16).jpg', 'article_date' => '2023-06-11 06:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18135', 'article_category_id' => '1', 'title' => 'Test Production of 14-Megawatt Gharkhola Hydropower Project Commences', 'sub_title' => '', 'summary' => 'The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The testing started on June 7 by sending water through the Penstock and tunnel. The goal is to start commercial production within the current fiscal year after conducting test production, said the hydropower company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"The test production has started. If no problems arise, it will begin commercial production within the current fiscal year,” said hydropower’s accountant Harikrishna Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority(NEA) also needs to conduct test production before starting commercial production. The company also has plans to issue Initial Public Offering(IPO). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The project has been constructed in Annapurna Rural Municipality of Myagdi. Approximately 3,500 meter- long tunnel has been constructed in the project. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The civil works of this project, which has been under construction since 2074 BS, were carried out by South Asian Infrastructure Private Limited. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The electricity generated from the project will be connected to Nepal Electricity Authority's Dana sub-station. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For that purpose, a 33-kilometer transmission line has been constructed, spanning approximately 8 kilometers in length.</span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17865', 'image' => '20230611062051_collage (15).jpg', 'article_date' => '2023-06-11 06:18:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18134', 'article_category_id' => '1', 'title' => 'Nepal Becoming a Favourite Destination for Foreign Filmmakers ', 'sub_title' => '', 'summary' => 'June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. Although Nepal has been a favoured destination for filming on documentaries produced in English language, the number of Indian films shot here was not much encouraging until recently. Two years ago, the movie 'Uunchai' was shot in Nepal for a month. The country got much needed publicity through this film starring popular Indian artists like Amitabh Bachchan, Anupam Kher, Danny Denzongpa, Boman Irani and Parineeti Chopra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nowadays, along with Indian movies, TV serials are also being shot in Nepal. Some time ago, Indian movie Mirai was shot in Kathmandu. At the same time, Indian director Anubhav Sinha also filmed a series for 10 days starting from Kathmandu to Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Production coordinator Arun Regmi said that the attraction of foreign film makers in Nepal is increasing. "While working with foreign groups, Nepali technicians also get to learn. Their working style is mature. You learn how to work in a large group," said coordinator Regmi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with him, Suraj Acharya's company Three Wheelers has carried out the management of director Sinha's series, Farji and Uunchai in Nepal in the last two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, a team that came from India to select the location for the shooting of the movie starring Bollywood actor Sunny Deol has returned after touring Jomsom, Kagbeni, Muktinath areas of Mustang. According to Acharya, preparations are being made for the shooting of the movie in the coming month of November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another manager Shankar Pandey said that with the government's budget statement for the fiscal year 2080/81 making Nepal a destination for international film shooting in the future looks bright. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the Film Development Board, more than 45 foreign films have been shot in Nepal in the nine months of the current fiscal year. The statistics of the last six years shows that around 243 foreign movies, web series and documentaries have been filmed in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17864', 'image' => '20230610102523_310635398_6655910121108391_5814850061168788886_n.jpg', 'article_date' => '2023-06-10 22:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18133', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Increasing in Bardiya National Park ', 'sub_title' => '', 'summary' => 'June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. As wild animals including tigers can be seen easily during the summer season, the number of tourists visiting the park has increased, said assistant conservation officer of the park, Badri Binod Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Majority of the tourists come to Bardiya to get a glimpse of tigers in the wild. The number of wild tigers in the national park has increased to 125. In the previous summer season, the park had received 1000 visitors, now it has already reached around 6,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in the previous fiscal year, 10,000 domestic tourists visited the park, which has already reached 15,000 this year. Of them, 400 tourists were from SAARC member countries, which is 1000 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with tigers, the park is also home to one-horned rhinoceros, leopard, cheetah, various types of deer and elephants. In addition, 438 species of birds and migratory birds have been recorded in the park. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17863', 'image' => '20230610101054_1686372556.bbbbb.jpg', 'article_date' => '2023-06-10 22:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18132', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15.9 Percent', 'sub_title' => '', 'summary' => 'June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. This has been attributed to the decline in imports and exports after the government adopted strict policies and also due to the liquidity problems in the banking sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review period, the country’s trade deficit stood at Rs 1204.42 billion, according to the latest report of Nepal Rastra Bank (NRB). The Current Macroeconomic and Financial Situation Report released by the central bank on Friday states that such a deficit had increased 24.9 percent in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the ten months of FY 2022/23, merchandise exports decreased 24.5 percent and was recorded at Rs 130.90 billion against an increase of 59.8 percent in the same period of the previous year. Destination-wise, exports to India decreased 33.6 percent whereas exports to China and other countries increased 100.6 percent and 8.2 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB report, exports of zinc sheet, particle board, cardamom, woolen carpets, polyester yarn and thread, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, during the ten months of FY 2022/23, merchandise imports decreased 16.8 percent and stood at Rs 1335.32 billion against an increase of 28.0 percent a year ago. Destination-wise, imports from India, China and other countries decreased 15.1 percent, 21.0 percent, and 18.6 percent respectively. Imports of chemical fertilizer, sponge iron, gold, petroleum products, paper, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Rasuwa Customs Office increased whereas imports from all the other major customs points decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17862', 'image' => '20230609054422_Trade.jpg', 'article_date' => '2023-06-09 17:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18130', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Remains at 7.41 Percent', 'sub_title' => '', 'summary' => 'June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that food and beverage inflation during the review month stood at 5.54 percent whereas non-food and service inflation rose to 8.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 26.61 percent, restaurant and hotel 14.87 percent, cereal grains and their products 13.69 percent, milk products and eggs 10.41 percent and tobacco products 8.49 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.75 percent, miscellaneous goods and services 13.08 percent, education 10.56 percent, housing and utilities 9.65 percent and furnishing and household equipment 8.27 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley surged the most to 7.68 percent followed by 7.57 percent in the hills, 7.15 in the Terai and 7.12 percent in the mountains. Inflation in the Kathmandu valley was 7.39 percent a year ago while that of the Terai was 8.15 percent, hills 7.89 percent and mountains 8.21 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17861', 'image' => '20230609035958_Inflation.jpg', 'article_date' => '2023-06-09 15:59:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18128', 'article_category_id' => '1', 'title' => 'Current Account in Deficit, BoP Registers Surplus', 'sub_title' => '', 'summary' => 'June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the current account in terms of the US dollar registered a deficit of 424.5 million in the review period compared to deficit of 4.55 billion in the same period last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 20.5 percent to Rs 6.36 billion and net foreign direct investment (FDI) remained Rs 4.36 billion, according to the Current Macroeconomic and Financial Situation Report of NRB released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the same period of the previous year, capital transfer and net FDI amounted to Rs 7.99 billion and Rs 16.65 billion respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stated that the country received the second installment of Extended Credit Facility (ECF) of Rs 6.88 billion (USD 52.71 million) from the IMF in the tenth month of FY 2022/23. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the country’s Balance of Payments (BOP) remained at a surplus of Rs 214.67 billion in the review period compared to a deficit of Rs 288.50 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In terms of US dollar, the BOP remained at a surplus of 1.63 billion in the review period against a deficit of 2.41 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17859', 'image' => '20230609035721_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-06-09 15:56:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18127', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Witness Remarkable Growth', 'sub_title' => '', 'summary' => ' Nepal's foreign exchange reserves have significantly surged. The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 9: Nepal's foreign exchange reserves have significantly surged. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to the central bank, the total foreign exchange reserves which stood at Rs 1215. 80 billion in mid-July 2022 increased by 14.6 percent and reached Rs 1470.33 billion till mid-May 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In terms of US dollars, the foreign exchange reserves stood at USD 9.54 billion in mid-July 2022. However, the foreign exchange reserves increased by 17.6 percent and reached USD 11.21 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Of the total foreign exchange reserves, reserves held by Nepal Rastra Bank increased by 24.1 percent from 1056.39 billion in mid-July 2022 and reached Rs 1310.66 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Similarly, total reserves held by banks and financial institutions excluding Nepal Rastra Bank saw a marginal rise of 0.2 percent. The reserves that stood at Rs 159.41 billion in mid-July 2022 increased to Rs 159.68 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The foreign exchange reserves are sufficient to import the goods for 11 months and both goods and services for 9.7 months, according to Nepal Rastra Bank.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17858', 'image' => '20230609032617_collage (15).jpg', 'article_date' => '2023-06-09 15:25:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18126', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases 23.4 Percent', 'sub_title' => '', 'summary' => 'June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion. This amount is 23.4 percent more than the remittance inflow in the corresponding period of the last fiscal year, according to the Current Macroeconomic and Financial Situation Report of Nepal Rastra Bank (NRB) released on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report states that remittance inflow, in terms of US dollars, increased 13.4 percent to 7.70 billion in the review period against a decrease of 1.2 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the number of Nepali workers taking approval for foreign employment increased 51.4 percent to 421,279 in the review period. It includes both institutional and individual labour permits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the number of Nepali workers renewing their labour permits for foreign employment in the review period increased 3.7 percent to 238,976.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It had increased 185.5 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, net transfer increased 22.5 percent to Rs 1110.22 billion in the review period. Such a transfer had increased 0.3 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17857', 'image' => '20230609025641_Remittance.jpg', 'article_date' => '2023-06-09 14:55:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taking part in the deliberations on the government's estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This budget lacks coherence and consistency with its policies and programmes and principles and priorities," he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government’s capacity to effectively steer the national economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The existing scenario of the capital market reflects the situation of the national economy," he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover. The market capitalization has shrunk from Rs 450 billion to Rs 280 billion," Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year's current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute," argued the former finance minister.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Removing and downsizing the capacity of the past programmes like the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in 'changing the game’ but only in 'changing the name', Poudel sarcastically said of the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. "Rather, it is like the continuation of the past programmes ," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17872', 'image' => '20230611103536_NP_KTM-_0D3A8145.jpg', 'article_date' => '2023-06-11 22:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18141', 'article_category_id' => '1', 'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD', 'sub_title' => '', 'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 11: The scorching heat has thrown life of people out of gear since the last few days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. "Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17871', 'image' => '20230611063504_20210626022910_Monsoon.jpeg', 'article_date' => '2023-06-11 18:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18140', 'article_category_id' => '1', 'title' => 'Shangri-la Development Bank Supports Nirdhan Utthan Sanjivani Health Foundation', 'sub_title' => '', 'summary' => 'Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As part of the assistance, Sangrila Development Bank Limited has made available Semi Folding Beds, Normal Wheelchairs, and IV Stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Bank’s Nepalgunj Cluster in-charge Jayandra Bahadur Khadka handed over the items to the representatives of Health Foundation at their office in Kohalpur-9, Jhandahawagadi, Banke last Thursday. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17870', 'image' => '20230611061512_collage (20).jpg', 'article_date' => '2023-06-11 18:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18139', 'article_category_id' => '1', 'title' => 'NC General Secretary Gagan Thapa Calls for Independent Review of the Budget', 'sub_title' => '', 'summary' => 'Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Speaking in a parliamentary session in the House of Representatives on the budget on Sunday, Thapa highlighted the need for independent agencies to carry out the budget review, stating that it was unbecoming for the ministry to review its own proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"The Ministry of Finance is responsible for preparing and presenting the budget. It is unbecoming for the ministry to review the budget presented by itself. Other agencies will have to carry out the review of the budget,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">Thapa also raised questions about the role of parliamentarians in the discussion on the budget in the parliament. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"Parliamentarians do not study, they lack facts, and figures related to the budget. They only use the </span>platform to express personal grievances and aggression.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">No parliamentarian has ever raised serious question about the budget and its implication, he added. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17869', 'image' => '20230611044413_collage (19).jpg', 'article_date' => '2023-06-11 16:42:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18138', 'article_category_id' => '1', 'title' => 'Kumari Bank Limited Provides Rs 2.5 Million to Kathmandu Institute of Child Health', 'sub_title' => '', 'summary' => 'Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A memorandum of understanding (MOU) was signed between the CEO of the bank, Ramesh Raj Aryal, and the founder chairman of the institution, Prof. Dr. Bhagwan Koirla, in the presence of other officials from both organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The institution will provide affordable, accessible, and multi-specialized health services for quality life of children. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The financial aid will be used to the institute’s under-construction hospital building at Budhanilkantha Municipality-7, Kathmandu.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17868', 'image' => '20230611041302_collage (18).jpg', 'article_date' => '2023-06-11 16:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18137', 'article_category_id' => '1', 'title' => 'Delay in Construction Projects Prompts Cancellation of Contracts', 'sub_title' => '', 'summary' => 'June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although deadlines were extended repeatedly, the negligent contractors kept on dilly-dallying the construction works for a long time resulting in nullifying of the contracts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to Nareshman Shakya, chief of the Division of Bridge under the DoR, the department initially extends the deadline of construction work in case of delay. However, the contract will be scrapped if there is no condition for the construction company to deliver the work on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The contract for the construction of a bridge over the Trishuli River at Battar has been annulled. The process to take forward the remaining works through a new contract is due, said Shakya. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"If the notice is issued in the ongoing fiscal year, the construction work would start at the beginning of the next fiscal year," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Not all construction companies are negligent. Some are very responsible too. For instance, there is a construction company that is repairing the bridge linking Dhanusha district with Siraha, Shakya informed. He shared that two other contracts, however, are on the verge of being annulled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Shakya shared that some processes like publishing notice have to be fulfilled before annulling the contract and so it will take some time to complete the process.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, the same company would be given an opportunity if the construction entrepreneur comes forward expressing commitment to carry out the work even when the process for action is initiated. Shakya said that the contract would be annulled only if the progress of work is not satisfactory or when work has not been carried out at all.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"We give an opportunity to continue the work to the contractors who give us convincing reasons with strong evidence that they can complete the work on time," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Engineer Suraj Adhikari shared that there were several ‘problematic contracts' in the under-construction 400 kilometers road of the Mid-hill Highway. He informed that the contract for the construction of the Bheri Bridge had been rescinded some time back as the construction works remained in limbo for a long time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Five contracts have been annulled in the current fiscal year in Panchthar. Shakya said the contract had to be called off after the contractor failed to carry out works despite extending the contract many times.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has forwarded the process of construction of a bridge over the Jabdighat Khola in Bardia by hiring a new contractor some time back after calling off the contract with the previous contractor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the contract for the Balaju-Trishuli road has also been annulled after the contractor made no progress for a long time. Earlier, there was a practice of extending the contract period of projects which remained stalled for long in the past years, sometimes citing the COVID-19 pandemic and sometimes pointing to the amendment of the Public Procurement Regulations. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">But nowadays, not only the Department of Roads but the Ministry of Physical Infrastructure and Transport is showing its interest in managing the so-called problematic contracts'. Ever since he took charge of the Ministry of Physical Infrastructure and Transport, Minister Prakash Jwala has shown his eagerness in annulling the contracts of the contractors not carrying out their works and keeping the construction projects in limbo for a long time.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17867', 'image' => '20230611110903_construction.jpg', 'article_date' => '2023-06-11 11:08:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18136', 'article_category_id' => '1', 'title' => 'Three Arrested For Scamming People by Creating Facebook Page Home and Land Loan Service ', 'sub_title' => '', 'summary' => 'Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service." </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested individuals are Nakul Chalise, Akash Bhattarai, and Ram Chandra Chalise, all aged 27.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested had allegedly created a loan service page on Facebook four months ago, claiming that they provide loans for purchasing houses and land. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">They lured various individuals by promising to provide loans and asked them to contact them. They had defrauded different people by taking checks and cash totaling Rs 5,720,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Furthermore, they are found to have misused another person's citizenship, opened bank accounts in various banks, involved in fraudulent activities by issuing checks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The District Police Office Kathmandu has arrested them for their alleged involvement in fraud and banking offenses. “Police have launched an investigation into them,” said a source at Kathmandu District Police Office. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17866', 'image' => '20230611064202_collage (16).jpg', 'article_date' => '2023-06-11 06:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18135', 'article_category_id' => '1', 'title' => 'Test Production of 14-Megawatt Gharkhola Hydropower Project Commences', 'sub_title' => '', 'summary' => 'The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The testing started on June 7 by sending water through the Penstock and tunnel. The goal is to start commercial production within the current fiscal year after conducting test production, said the hydropower company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"The test production has started. If no problems arise, it will begin commercial production within the current fiscal year,” said hydropower’s accountant Harikrishna Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority(NEA) also needs to conduct test production before starting commercial production. The company also has plans to issue Initial Public Offering(IPO). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The project has been constructed in Annapurna Rural Municipality of Myagdi. Approximately 3,500 meter- long tunnel has been constructed in the project. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The civil works of this project, which has been under construction since 2074 BS, were carried out by South Asian Infrastructure Private Limited. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The electricity generated from the project will be connected to Nepal Electricity Authority's Dana sub-station. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For that purpose, a 33-kilometer transmission line has been constructed, spanning approximately 8 kilometers in length.</span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17865', 'image' => '20230611062051_collage (15).jpg', 'article_date' => '2023-06-11 06:18:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18134', 'article_category_id' => '1', 'title' => 'Nepal Becoming a Favourite Destination for Foreign Filmmakers ', 'sub_title' => '', 'summary' => 'June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. Although Nepal has been a favoured destination for filming on documentaries produced in English language, the number of Indian films shot here was not much encouraging until recently. Two years ago, the movie 'Uunchai' was shot in Nepal for a month. The country got much needed publicity through this film starring popular Indian artists like Amitabh Bachchan, Anupam Kher, Danny Denzongpa, Boman Irani and Parineeti Chopra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nowadays, along with Indian movies, TV serials are also being shot in Nepal. Some time ago, Indian movie Mirai was shot in Kathmandu. At the same time, Indian director Anubhav Sinha also filmed a series for 10 days starting from Kathmandu to Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Production coordinator Arun Regmi said that the attraction of foreign film makers in Nepal is increasing. "While working with foreign groups, Nepali technicians also get to learn. Their working style is mature. You learn how to work in a large group," said coordinator Regmi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with him, Suraj Acharya's company Three Wheelers has carried out the management of director Sinha's series, Farji and Uunchai in Nepal in the last two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, a team that came from India to select the location for the shooting of the movie starring Bollywood actor Sunny Deol has returned after touring Jomsom, Kagbeni, Muktinath areas of Mustang. According to Acharya, preparations are being made for the shooting of the movie in the coming month of November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another manager Shankar Pandey said that with the government's budget statement for the fiscal year 2080/81 making Nepal a destination for international film shooting in the future looks bright. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the Film Development Board, more than 45 foreign films have been shot in Nepal in the nine months of the current fiscal year. The statistics of the last six years shows that around 243 foreign movies, web series and documentaries have been filmed in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17864', 'image' => '20230610102523_310635398_6655910121108391_5814850061168788886_n.jpg', 'article_date' => '2023-06-10 22:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18133', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Increasing in Bardiya National Park ', 'sub_title' => '', 'summary' => 'June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. As wild animals including tigers can be seen easily during the summer season, the number of tourists visiting the park has increased, said assistant conservation officer of the park, Badri Binod Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Majority of the tourists come to Bardiya to get a glimpse of tigers in the wild. The number of wild tigers in the national park has increased to 125. In the previous summer season, the park had received 1000 visitors, now it has already reached around 6,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in the previous fiscal year, 10,000 domestic tourists visited the park, which has already reached 15,000 this year. Of them, 400 tourists were from SAARC member countries, which is 1000 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with tigers, the park is also home to one-horned rhinoceros, leopard, cheetah, various types of deer and elephants. In addition, 438 species of birds and migratory birds have been recorded in the park. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17863', 'image' => '20230610101054_1686372556.bbbbb.jpg', 'article_date' => '2023-06-10 22:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18132', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15.9 Percent', 'sub_title' => '', 'summary' => 'June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. This has been attributed to the decline in imports and exports after the government adopted strict policies and also due to the liquidity problems in the banking sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review period, the country’s trade deficit stood at Rs 1204.42 billion, according to the latest report of Nepal Rastra Bank (NRB). The Current Macroeconomic and Financial Situation Report released by the central bank on Friday states that such a deficit had increased 24.9 percent in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the ten months of FY 2022/23, merchandise exports decreased 24.5 percent and was recorded at Rs 130.90 billion against an increase of 59.8 percent in the same period of the previous year. Destination-wise, exports to India decreased 33.6 percent whereas exports to China and other countries increased 100.6 percent and 8.2 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB report, exports of zinc sheet, particle board, cardamom, woolen carpets, polyester yarn and thread, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, during the ten months of FY 2022/23, merchandise imports decreased 16.8 percent and stood at Rs 1335.32 billion against an increase of 28.0 percent a year ago. Destination-wise, imports from India, China and other countries decreased 15.1 percent, 21.0 percent, and 18.6 percent respectively. Imports of chemical fertilizer, sponge iron, gold, petroleum products, paper, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Rasuwa Customs Office increased whereas imports from all the other major customs points decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17862', 'image' => '20230609054422_Trade.jpg', 'article_date' => '2023-06-09 17:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18130', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Remains at 7.41 Percent', 'sub_title' => '', 'summary' => 'June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that food and beverage inflation during the review month stood at 5.54 percent whereas non-food and service inflation rose to 8.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 26.61 percent, restaurant and hotel 14.87 percent, cereal grains and their products 13.69 percent, milk products and eggs 10.41 percent and tobacco products 8.49 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.75 percent, miscellaneous goods and services 13.08 percent, education 10.56 percent, housing and utilities 9.65 percent and furnishing and household equipment 8.27 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley surged the most to 7.68 percent followed by 7.57 percent in the hills, 7.15 in the Terai and 7.12 percent in the mountains. Inflation in the Kathmandu valley was 7.39 percent a year ago while that of the Terai was 8.15 percent, hills 7.89 percent and mountains 8.21 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17861', 'image' => '20230609035958_Inflation.jpg', 'article_date' => '2023-06-09 15:59:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18128', 'article_category_id' => '1', 'title' => 'Current Account in Deficit, BoP Registers Surplus', 'sub_title' => '', 'summary' => 'June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the current account in terms of the US dollar registered a deficit of 424.5 million in the review period compared to deficit of 4.55 billion in the same period last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 20.5 percent to Rs 6.36 billion and net foreign direct investment (FDI) remained Rs 4.36 billion, according to the Current Macroeconomic and Financial Situation Report of NRB released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the same period of the previous year, capital transfer and net FDI amounted to Rs 7.99 billion and Rs 16.65 billion respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stated that the country received the second installment of Extended Credit Facility (ECF) of Rs 6.88 billion (USD 52.71 million) from the IMF in the tenth month of FY 2022/23. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the country’s Balance of Payments (BOP) remained at a surplus of Rs 214.67 billion in the review period compared to a deficit of Rs 288.50 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In terms of US dollar, the BOP remained at a surplus of 1.63 billion in the review period against a deficit of 2.41 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17859', 'image' => '20230609035721_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-06-09 15:56:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18127', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Witness Remarkable Growth', 'sub_title' => '', 'summary' => ' Nepal's foreign exchange reserves have significantly surged. The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 9: Nepal's foreign exchange reserves have significantly surged. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to the central bank, the total foreign exchange reserves which stood at Rs 1215. 80 billion in mid-July 2022 increased by 14.6 percent and reached Rs 1470.33 billion till mid-May 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In terms of US dollars, the foreign exchange reserves stood at USD 9.54 billion in mid-July 2022. However, the foreign exchange reserves increased by 17.6 percent and reached USD 11.21 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Of the total foreign exchange reserves, reserves held by Nepal Rastra Bank increased by 24.1 percent from 1056.39 billion in mid-July 2022 and reached Rs 1310.66 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Similarly, total reserves held by banks and financial institutions excluding Nepal Rastra Bank saw a marginal rise of 0.2 percent. The reserves that stood at Rs 159.41 billion in mid-July 2022 increased to Rs 159.68 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The foreign exchange reserves are sufficient to import the goods for 11 months and both goods and services for 9.7 months, according to Nepal Rastra Bank.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17858', 'image' => '20230609032617_collage (15).jpg', 'article_date' => '2023-06-09 15:25:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18126', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases 23.4 Percent', 'sub_title' => '', 'summary' => 'June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion. This amount is 23.4 percent more than the remittance inflow in the corresponding period of the last fiscal year, according to the Current Macroeconomic and Financial Situation Report of Nepal Rastra Bank (NRB) released on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report states that remittance inflow, in terms of US dollars, increased 13.4 percent to 7.70 billion in the review period against a decrease of 1.2 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the number of Nepali workers taking approval for foreign employment increased 51.4 percent to 421,279 in the review period. It includes both institutional and individual labour permits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the number of Nepali workers renewing their labour permits for foreign employment in the review period increased 3.7 percent to 238,976.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It had increased 185.5 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, net transfer increased 22.5 percent to Rs 1110.22 billion in the review period. Such a transfer had increased 0.3 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17857', 'image' => '20230609025641_Remittance.jpg', 'article_date' => '2023-06-09 14:55:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taking part in the deliberations on the government's estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This budget lacks coherence and consistency with its policies and programmes and principles and priorities," he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government’s capacity to effectively steer the national economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The existing scenario of the capital market reflects the situation of the national economy," he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover. The market capitalization has shrunk from Rs 450 billion to Rs 280 billion," Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year's current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute," argued the former finance minister.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Removing and downsizing the capacity of the past programmes like the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in 'changing the game’ but only in 'changing the name', Poudel sarcastically said of the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. "Rather, it is like the continuation of the past programmes ," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17872', 'image' => '20230611103536_NP_KTM-_0D3A8145.jpg', 'article_date' => '2023-06-11 22:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18141', 'article_category_id' => '1', 'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD', 'sub_title' => '', 'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 11: The scorching heat has thrown life of people out of gear since the last few days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. "Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17871', 'image' => '20230611063504_20210626022910_Monsoon.jpeg', 'article_date' => '2023-06-11 18:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18140', 'article_category_id' => '1', 'title' => 'Shangri-la Development Bank Supports Nirdhan Utthan Sanjivani Health Foundation', 'sub_title' => '', 'summary' => 'Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As part of the assistance, Sangrila Development Bank Limited has made available Semi Folding Beds, Normal Wheelchairs, and IV Stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Bank’s Nepalgunj Cluster in-charge Jayandra Bahadur Khadka handed over the items to the representatives of Health Foundation at their office in Kohalpur-9, Jhandahawagadi, Banke last Thursday. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17870', 'image' => '20230611061512_collage (20).jpg', 'article_date' => '2023-06-11 18:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18139', 'article_category_id' => '1', 'title' => 'NC General Secretary Gagan Thapa Calls for Independent Review of the Budget', 'sub_title' => '', 'summary' => 'Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Speaking in a parliamentary session in the House of Representatives on the budget on Sunday, Thapa highlighted the need for independent agencies to carry out the budget review, stating that it was unbecoming for the ministry to review its own proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"The Ministry of Finance is responsible for preparing and presenting the budget. It is unbecoming for the ministry to review the budget presented by itself. Other agencies will have to carry out the review of the budget,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">Thapa also raised questions about the role of parliamentarians in the discussion on the budget in the parliament. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"Parliamentarians do not study, they lack facts, and figures related to the budget. They only use the </span>platform to express personal grievances and aggression.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">No parliamentarian has ever raised serious question about the budget and its implication, he added. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17869', 'image' => '20230611044413_collage (19).jpg', 'article_date' => '2023-06-11 16:42:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18138', 'article_category_id' => '1', 'title' => 'Kumari Bank Limited Provides Rs 2.5 Million to Kathmandu Institute of Child Health', 'sub_title' => '', 'summary' => 'Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A memorandum of understanding (MOU) was signed between the CEO of the bank, Ramesh Raj Aryal, and the founder chairman of the institution, Prof. Dr. Bhagwan Koirla, in the presence of other officials from both organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The institution will provide affordable, accessible, and multi-specialized health services for quality life of children. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The financial aid will be used to the institute’s under-construction hospital building at Budhanilkantha Municipality-7, Kathmandu.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17868', 'image' => '20230611041302_collage (18).jpg', 'article_date' => '2023-06-11 16:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18137', 'article_category_id' => '1', 'title' => 'Delay in Construction Projects Prompts Cancellation of Contracts', 'sub_title' => '', 'summary' => 'June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although deadlines were extended repeatedly, the negligent contractors kept on dilly-dallying the construction works for a long time resulting in nullifying of the contracts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to Nareshman Shakya, chief of the Division of Bridge under the DoR, the department initially extends the deadline of construction work in case of delay. However, the contract will be scrapped if there is no condition for the construction company to deliver the work on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The contract for the construction of a bridge over the Trishuli River at Battar has been annulled. The process to take forward the remaining works through a new contract is due, said Shakya. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"If the notice is issued in the ongoing fiscal year, the construction work would start at the beginning of the next fiscal year," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Not all construction companies are negligent. Some are very responsible too. For instance, there is a construction company that is repairing the bridge linking Dhanusha district with Siraha, Shakya informed. He shared that two other contracts, however, are on the verge of being annulled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Shakya shared that some processes like publishing notice have to be fulfilled before annulling the contract and so it will take some time to complete the process.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, the same company would be given an opportunity if the construction entrepreneur comes forward expressing commitment to carry out the work even when the process for action is initiated. Shakya said that the contract would be annulled only if the progress of work is not satisfactory or when work has not been carried out at all.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"We give an opportunity to continue the work to the contractors who give us convincing reasons with strong evidence that they can complete the work on time," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Engineer Suraj Adhikari shared that there were several ‘problematic contracts' in the under-construction 400 kilometers road of the Mid-hill Highway. He informed that the contract for the construction of the Bheri Bridge had been rescinded some time back as the construction works remained in limbo for a long time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Five contracts have been annulled in the current fiscal year in Panchthar. Shakya said the contract had to be called off after the contractor failed to carry out works despite extending the contract many times.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has forwarded the process of construction of a bridge over the Jabdighat Khola in Bardia by hiring a new contractor some time back after calling off the contract with the previous contractor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the contract for the Balaju-Trishuli road has also been annulled after the contractor made no progress for a long time. Earlier, there was a practice of extending the contract period of projects which remained stalled for long in the past years, sometimes citing the COVID-19 pandemic and sometimes pointing to the amendment of the Public Procurement Regulations. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">But nowadays, not only the Department of Roads but the Ministry of Physical Infrastructure and Transport is showing its interest in managing the so-called problematic contracts'. Ever since he took charge of the Ministry of Physical Infrastructure and Transport, Minister Prakash Jwala has shown his eagerness in annulling the contracts of the contractors not carrying out their works and keeping the construction projects in limbo for a long time.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17867', 'image' => '20230611110903_construction.jpg', 'article_date' => '2023-06-11 11:08:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18136', 'article_category_id' => '1', 'title' => 'Three Arrested For Scamming People by Creating Facebook Page Home and Land Loan Service ', 'sub_title' => '', 'summary' => 'Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service." </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested individuals are Nakul Chalise, Akash Bhattarai, and Ram Chandra Chalise, all aged 27.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested had allegedly created a loan service page on Facebook four months ago, claiming that they provide loans for purchasing houses and land. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">They lured various individuals by promising to provide loans and asked them to contact them. They had defrauded different people by taking checks and cash totaling Rs 5,720,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Furthermore, they are found to have misused another person's citizenship, opened bank accounts in various banks, involved in fraudulent activities by issuing checks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The District Police Office Kathmandu has arrested them for their alleged involvement in fraud and banking offenses. “Police have launched an investigation into them,” said a source at Kathmandu District Police Office. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17866', 'image' => '20230611064202_collage (16).jpg', 'article_date' => '2023-06-11 06:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18135', 'article_category_id' => '1', 'title' => 'Test Production of 14-Megawatt Gharkhola Hydropower Project Commences', 'sub_title' => '', 'summary' => 'The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The testing started on June 7 by sending water through the Penstock and tunnel. The goal is to start commercial production within the current fiscal year after conducting test production, said the hydropower company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"The test production has started. If no problems arise, it will begin commercial production within the current fiscal year,” said hydropower’s accountant Harikrishna Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority(NEA) also needs to conduct test production before starting commercial production. The company also has plans to issue Initial Public Offering(IPO). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The project has been constructed in Annapurna Rural Municipality of Myagdi. Approximately 3,500 meter- long tunnel has been constructed in the project. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The civil works of this project, which has been under construction since 2074 BS, were carried out by South Asian Infrastructure Private Limited. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The electricity generated from the project will be connected to Nepal Electricity Authority's Dana sub-station. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For that purpose, a 33-kilometer transmission line has been constructed, spanning approximately 8 kilometers in length.</span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17865', 'image' => '20230611062051_collage (15).jpg', 'article_date' => '2023-06-11 06:18:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18134', 'article_category_id' => '1', 'title' => 'Nepal Becoming a Favourite Destination for Foreign Filmmakers ', 'sub_title' => '', 'summary' => 'June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. Although Nepal has been a favoured destination for filming on documentaries produced in English language, the number of Indian films shot here was not much encouraging until recently. Two years ago, the movie 'Uunchai' was shot in Nepal for a month. The country got much needed publicity through this film starring popular Indian artists like Amitabh Bachchan, Anupam Kher, Danny Denzongpa, Boman Irani and Parineeti Chopra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nowadays, along with Indian movies, TV serials are also being shot in Nepal. Some time ago, Indian movie Mirai was shot in Kathmandu. At the same time, Indian director Anubhav Sinha also filmed a series for 10 days starting from Kathmandu to Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Production coordinator Arun Regmi said that the attraction of foreign film makers in Nepal is increasing. "While working with foreign groups, Nepali technicians also get to learn. Their working style is mature. You learn how to work in a large group," said coordinator Regmi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with him, Suraj Acharya's company Three Wheelers has carried out the management of director Sinha's series, Farji and Uunchai in Nepal in the last two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, a team that came from India to select the location for the shooting of the movie starring Bollywood actor Sunny Deol has returned after touring Jomsom, Kagbeni, Muktinath areas of Mustang. According to Acharya, preparations are being made for the shooting of the movie in the coming month of November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another manager Shankar Pandey said that with the government's budget statement for the fiscal year 2080/81 making Nepal a destination for international film shooting in the future looks bright. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the Film Development Board, more than 45 foreign films have been shot in Nepal in the nine months of the current fiscal year. The statistics of the last six years shows that around 243 foreign movies, web series and documentaries have been filmed in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17864', 'image' => '20230610102523_310635398_6655910121108391_5814850061168788886_n.jpg', 'article_date' => '2023-06-10 22:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18133', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Increasing in Bardiya National Park ', 'sub_title' => '', 'summary' => 'June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. As wild animals including tigers can be seen easily during the summer season, the number of tourists visiting the park has increased, said assistant conservation officer of the park, Badri Binod Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Majority of the tourists come to Bardiya to get a glimpse of tigers in the wild. The number of wild tigers in the national park has increased to 125. In the previous summer season, the park had received 1000 visitors, now it has already reached around 6,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in the previous fiscal year, 10,000 domestic tourists visited the park, which has already reached 15,000 this year. Of them, 400 tourists were from SAARC member countries, which is 1000 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with tigers, the park is also home to one-horned rhinoceros, leopard, cheetah, various types of deer and elephants. In addition, 438 species of birds and migratory birds have been recorded in the park. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17863', 'image' => '20230610101054_1686372556.bbbbb.jpg', 'article_date' => '2023-06-10 22:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18132', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15.9 Percent', 'sub_title' => '', 'summary' => 'June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. This has been attributed to the decline in imports and exports after the government adopted strict policies and also due to the liquidity problems in the banking sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review period, the country’s trade deficit stood at Rs 1204.42 billion, according to the latest report of Nepal Rastra Bank (NRB). The Current Macroeconomic and Financial Situation Report released by the central bank on Friday states that such a deficit had increased 24.9 percent in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the ten months of FY 2022/23, merchandise exports decreased 24.5 percent and was recorded at Rs 130.90 billion against an increase of 59.8 percent in the same period of the previous year. Destination-wise, exports to India decreased 33.6 percent whereas exports to China and other countries increased 100.6 percent and 8.2 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB report, exports of zinc sheet, particle board, cardamom, woolen carpets, polyester yarn and thread, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, during the ten months of FY 2022/23, merchandise imports decreased 16.8 percent and stood at Rs 1335.32 billion against an increase of 28.0 percent a year ago. Destination-wise, imports from India, China and other countries decreased 15.1 percent, 21.0 percent, and 18.6 percent respectively. Imports of chemical fertilizer, sponge iron, gold, petroleum products, paper, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Rasuwa Customs Office increased whereas imports from all the other major customs points decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17862', 'image' => '20230609054422_Trade.jpg', 'article_date' => '2023-06-09 17:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18130', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Remains at 7.41 Percent', 'sub_title' => '', 'summary' => 'June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that food and beverage inflation during the review month stood at 5.54 percent whereas non-food and service inflation rose to 8.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 26.61 percent, restaurant and hotel 14.87 percent, cereal grains and their products 13.69 percent, milk products and eggs 10.41 percent and tobacco products 8.49 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.75 percent, miscellaneous goods and services 13.08 percent, education 10.56 percent, housing and utilities 9.65 percent and furnishing and household equipment 8.27 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley surged the most to 7.68 percent followed by 7.57 percent in the hills, 7.15 in the Terai and 7.12 percent in the mountains. Inflation in the Kathmandu valley was 7.39 percent a year ago while that of the Terai was 8.15 percent, hills 7.89 percent and mountains 8.21 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17861', 'image' => '20230609035958_Inflation.jpg', 'article_date' => '2023-06-09 15:59:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18128', 'article_category_id' => '1', 'title' => 'Current Account in Deficit, BoP Registers Surplus', 'sub_title' => '', 'summary' => 'June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the current account in terms of the US dollar registered a deficit of 424.5 million in the review period compared to deficit of 4.55 billion in the same period last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 20.5 percent to Rs 6.36 billion and net foreign direct investment (FDI) remained Rs 4.36 billion, according to the Current Macroeconomic and Financial Situation Report of NRB released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the same period of the previous year, capital transfer and net FDI amounted to Rs 7.99 billion and Rs 16.65 billion respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stated that the country received the second installment of Extended Credit Facility (ECF) of Rs 6.88 billion (USD 52.71 million) from the IMF in the tenth month of FY 2022/23. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the country’s Balance of Payments (BOP) remained at a surplus of Rs 214.67 billion in the review period compared to a deficit of Rs 288.50 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In terms of US dollar, the BOP remained at a surplus of 1.63 billion in the review period against a deficit of 2.41 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17859', 'image' => '20230609035721_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-06-09 15:56:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18127', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Witness Remarkable Growth', 'sub_title' => '', 'summary' => ' Nepal's foreign exchange reserves have significantly surged. The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 9: Nepal's foreign exchange reserves have significantly surged. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to the central bank, the total foreign exchange reserves which stood at Rs 1215. 80 billion in mid-July 2022 increased by 14.6 percent and reached Rs 1470.33 billion till mid-May 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In terms of US dollars, the foreign exchange reserves stood at USD 9.54 billion in mid-July 2022. However, the foreign exchange reserves increased by 17.6 percent and reached USD 11.21 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Of the total foreign exchange reserves, reserves held by Nepal Rastra Bank increased by 24.1 percent from 1056.39 billion in mid-July 2022 and reached Rs 1310.66 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Similarly, total reserves held by banks and financial institutions excluding Nepal Rastra Bank saw a marginal rise of 0.2 percent. The reserves that stood at Rs 159.41 billion in mid-July 2022 increased to Rs 159.68 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The foreign exchange reserves are sufficient to import the goods for 11 months and both goods and services for 9.7 months, according to Nepal Rastra Bank.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17858', 'image' => '20230609032617_collage (15).jpg', 'article_date' => '2023-06-09 15:25:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18126', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases 23.4 Percent', 'sub_title' => '', 'summary' => 'June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion. This amount is 23.4 percent more than the remittance inflow in the corresponding period of the last fiscal year, according to the Current Macroeconomic and Financial Situation Report of Nepal Rastra Bank (NRB) released on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report states that remittance inflow, in terms of US dollars, increased 13.4 percent to 7.70 billion in the review period against a decrease of 1.2 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the number of Nepali workers taking approval for foreign employment increased 51.4 percent to 421,279 in the review period. It includes both institutional and individual labour permits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the number of Nepali workers renewing their labour permits for foreign employment in the review period increased 3.7 percent to 238,976.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It had increased 185.5 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, net transfer increased 22.5 percent to Rs 1110.22 billion in the review period. Such a transfer had increased 0.3 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17857', 'image' => '20230609025641_Remittance.jpg', 'article_date' => '2023-06-09 14:55:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 11: Lawmaker and former Finance Minister Bishnu Prasad Paudel has said that the budget for the upcoming fiscal year 2023-24 has failed to accept the reality of economic slowdown and to fall in line with the government policies and programmes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Taking part in the deliberations on the government's estimations of its annual revenue and expenditures for the upcoming fiscal year in a meeting of the House of Representatives (HoR) on Sunday, he said priorities and plans mentioned in the new policies and programmes were not given a space in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"This budget lacks coherence and consistency with its policies and programmes and principles and priorities," he said. Matters of granting a discount on electricity tariff (up to 30 units in winter and up to 50 units during the monsoon) and the programme to develop the Geta Medical College as the Dashrath Chand Medical University are missing in the budget," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The budget has failed to recognize the existing economic issues, assess its challenges and opportunities and present possible ways for the solutions, according to the leader.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Economic growth below 2.16 percent, 7.5 percent consumer price inflation, current account deficit worth over Rs 54 billion and the situation suggesting the negative reserve fund by Rs two billion by the end of the current fiscal year have not been addressed by the budget," he said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As he evaluated, 7.96 percent banking loan disbursement to the private sector, negative Gross Domestic Growth in first and second quarters of the current fiscal year, economic slowdown, a significant loss in employment opportunities and skyrocketing prices suggest the Nepalese economy is marred by crisis. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He went on to say that 38.12 percent capital expenditure, mobilization of foreign grants less than 10 percent of the target and a fall in revenue collections: by 12 percent than the last fiscal and 56 percent of the target this year provided a room to question the government’s capacity to effectively steer the national economy. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The projection of an economic growth in the upcoming year less than the current fiscal year and a fall in the appropriations suggest that the government is not capable of mobilizing the available resources fully, according to the lawmaker. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The existing scenario of the capital market reflects the situation of the national economy," he said, adding that three years ago, the Nepal Stock Exchange Index had touched 3,200 points with daily turnover of up to Rs 20 billion. But now, it has dwindled to 1950 points with Rs two billion daily turnover. The market capitalization has shrunk from Rs 450 billion to Rs 280 billion," Paudel said, adding that none was ready to take responsibility for this negative picture of the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, although the budget statement mentions decreasing the current expenditure, the current expenditure proposed for the upcoming fiscal year is more by Rs 97 billion compared to the current fiscal year's current expenditure. Poudel stated that the allocation towards capital expenditure, which was around 20 percent of the total budget on an average since the last six years, has been reduced to 17 per cent this time.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"On the one hand it is mentioned in the budget that implementation of fiscal federalism would be emphasized while on the other hand the fiscal transfers to the province and local levels have been allocated with a deficit of Rs 29.75 billion as compared to the allocations of the current fiscal year. In this way, the resource management and the allocation made for the current and capital expenditures in this budget are unrealistic, unbelievable, self-contradictory and difficult to execute," argued the former finance minister.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Removing and downsizing the capacity of the past programmes like the Prime Minister Employment Program, the President Educational Reform Programme, the President Women Empowerment Programme, the Prime Minister Agriculture Modernization Programme, urbanization of the district headquarters of the Terai districts, industrial zone infrastructure and issuing loans keeping the academic qualification certificates as collateral, among others indicated that the budget is taking pleasure not in 'changing the game’ but only in 'changing the name', Poudel sarcastically said of the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He commented that the budget has not allocated money for providing compensation for health insurance, delimited the provision of asking for loans by keeping the academic certificates as collateral and scattered the budget even in the projects implemented by the local level wards and municipalities.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister said the budget has not addressed the potential of the water resources, tourism and agriculture sectors, and it lacked novelty. "Rather, it is like the continuation of the past programmes ," he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, some programmes in the budget were highly controversial. Stating that the programme of exporting stones and pebbles abroad by quarrying the Chure had met with opposition in the past, and wondered on what grounds this programme had been brought in the present budget. Likewise, Poudel expressed his objection regarding the beneficiary of the Citizen Pension Programme, its action plan and sources included in the budget.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Poudel also termed as inappropriate the decision made by the government through the budget statement to dissolve and merge 20 various government corporations for reducing the expenses. In his view, the government should cut down on the facilities of the president, the vice president, members of the Council of Ministers, and lawmakers among others to reduce expenditures.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The former finance minister also took exception to the provision of the budget providing Rs 50 million to the MP through the Parliamentary Constituency Infrastructure Development Programme. He also declared in the parliament that he wished to spend the amount under this programme he gets as a parliamentarian in the construction of infrastructures in the public education sector through the ministry concerned.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Finance Minister Poudel claimed the change in the tax rate in the budget is also not logical. He is of the view that the government should address the justified demands made by the private and cooperative sectors, and share market investors, saying they were dissatisfied with the tax proposed by the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, speaking in the meeting of the House of Representatives on Sunday, lawmaker Deepak Giri viewed that the parties should not be divided into ruling and opposition benches in policy matters as budget but should move ahead by making programmes collectively. He also called on the lawmakers to be responsible towards the citizens in addressing their problems, no matter how petty they might seem to be. Giri also called on the parliament to rethink the time of presenting the budget in parliament. --RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17872', 'image' => '20230611103536_NP_KTM-_0D3A8145.jpg', 'article_date' => '2023-06-11 22:34:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '18141', 'article_category_id' => '1', 'title' => 'Excessive Heat to Decline as Monsoon likely to Enter Nepal in a Few Days: MFD', 'sub_title' => '', 'summary' => 'June 11: The scorching heat has thrown life of people out of gear since the last few days. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 11: The scorching heat has thrown life of people out of gear since the last few days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Temperature in some parts of the country soared to as high as above 43 degrees Celsius. The situation may somehow ease as the monsoon is entering Nepal within some days, said the Meteorological Forecasting Division. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Based on weather analysis in the past 30 years, monsoon in general enters Nepal in mid-June and exits in the first week of October. Moisture-laden winds from the Bay of Bengal along with the Westerly winds, and the low pressure area from the surroundings of Bihar in India have had their impact, increasing the possibilities for the monsoon to enter Nepal on time, said meteorologist Rojan Lamichhane. "Temperature has started to decrease in Koshi Province since Saturday. Clouds are forming, and factors required for monsoon are favourable," he said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the division, Koshi Province and some hill areas of the country will remain partially to generally cloudy, and the remaining parts will have clear sky. One or two parts of hill areas of Koshi Province are predicted to receive light rainfall, said Lamichhane. Temperature across the country will gradually go down, but it will remain constant for some more days that in the western Tarai, according to the division. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17871', 'image' => '20230611063504_20210626022910_Monsoon.jpeg', 'article_date' => '2023-06-11 18:34:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '18140', 'article_category_id' => '1', 'title' => 'Shangri-la Development Bank Supports Nirdhan Utthan Sanjivani Health Foundation', 'sub_title' => '', 'summary' => 'Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Shangri-la Development Bank Limited has provided support to the Nirdhan Utthan Sanjivani Health Foundation under its Corporate Social Responsibility(CSR).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">As part of the assistance, Sangrila Development Bank Limited has made available Semi Folding Beds, Normal Wheelchairs, and IV Stands.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Bank’s Nepalgunj Cluster in-charge Jayandra Bahadur Khadka handed over the items to the representatives of Health Foundation at their office in Kohalpur-9, Jhandahawagadi, Banke last Thursday. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17870', 'image' => '20230611061512_collage (20).jpg', 'article_date' => '2023-06-11 18:14:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 3 => array( 'Article' => array( 'id' => '18139', 'article_category_id' => '1', 'title' => 'NC General Secretary Gagan Thapa Calls for Independent Review of the Budget', 'sub_title' => '', 'summary' => 'Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Gagan Thapa, General Secretary of the Nepali Congress, voiced his concerns over the Ministry of Finance conducting a review of the budget, which it presents itself. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Speaking in a parliamentary session in the House of Representatives on the budget on Sunday, Thapa highlighted the need for independent agencies to carry out the budget review, stating that it was unbecoming for the ministry to review its own proposal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"The Ministry of Finance is responsible for preparing and presenting the budget. It is unbecoming for the ministry to review the budget presented by itself. Other agencies will have to carry out the review of the budget,” he added. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">Thapa also raised questions about the role of parliamentarians in the discussion on the budget in the parliament. </span></span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif"><span style="font-family:"Segoe UI",sans-serif">"Parliamentarians do not study, they lack facts, and figures related to the budget. They only use the </span>platform to express personal grievances and aggression.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">No parliamentarian has ever raised serious question about the budget and its implication, he added. </span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17869', 'image' => '20230611044413_collage (19).jpg', 'article_date' => '2023-06-11 16:42:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 4 => array( 'Article' => array( 'id' => '18138', 'article_category_id' => '1', 'title' => 'Kumari Bank Limited Provides Rs 2.5 Million to Kathmandu Institute of Child Health', 'sub_title' => '', 'summary' => 'Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Kumari Bank Limited has provided Rs 2.5 million to Kathmandu Institute of Child Health. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">A memorandum of understanding (MOU) was signed between the CEO of the bank, Ramesh Raj Aryal, and the founder chairman of the institution, Prof. Dr. Bhagwan Koirla, in the presence of other officials from both organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The institution will provide affordable, accessible, and multi-specialized health services for quality life of children. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The financial aid will be used to the institute’s under-construction hospital building at Budhanilkantha Municipality-7, Kathmandu.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17868', 'image' => '20230611041302_collage (18).jpg', 'article_date' => '2023-06-11 16:11:57', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 5 => array( 'Article' => array( 'id' => '18137', 'article_category_id' => '1', 'title' => 'Delay in Construction Projects Prompts Cancellation of Contracts', 'sub_title' => '', 'summary' => 'June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">June 11: The Department of Roads (DoR) has been revoking the contracts of those construction companies failing to complete construction of roads and bridges on time. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Although deadlines were extended repeatedly, the negligent contractors kept on dilly-dallying the construction works for a long time resulting in nullifying of the contracts.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to Nareshman Shakya, chief of the Division of Bridge under the DoR, the department initially extends the deadline of construction work in case of delay. However, the contract will be scrapped if there is no condition for the construction company to deliver the work on time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The contract for the construction of a bridge over the Trishuli River at Battar has been annulled. The process to take forward the remaining works through a new contract is due, said Shakya. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"If the notice is issued in the ongoing fiscal year, the construction work would start at the beginning of the next fiscal year," he said.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Not all construction companies are negligent. Some are very responsible too. For instance, there is a construction company that is repairing the bridge linking Dhanusha district with Siraha, Shakya informed. He shared that two other contracts, however, are on the verge of being annulled.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Shakya shared that some processes like publishing notice have to be fulfilled before annulling the contract and so it will take some time to complete the process.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">According to him, the same company would be given an opportunity if the construction entrepreneur comes forward expressing commitment to carry out the work even when the process for action is initiated. Shakya said that the contract would be annulled only if the progress of work is not satisfactory or when work has not been carried out at all.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">"We give an opportunity to continue the work to the contractors who give us convincing reasons with strong evidence that they can complete the work on time," he said. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Engineer Suraj Adhikari shared that there were several ‘problematic contracts' in the under-construction 400 kilometers road of the Mid-hill Highway. He informed that the contract for the construction of the Bheri Bridge had been rescinded some time back as the construction works remained in limbo for a long time.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Five contracts have been annulled in the current fiscal year in Panchthar. Shakya said the contract had to be called off after the contractor failed to carry out works despite extending the contract many times.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">The government has forwarded the process of construction of a bridge over the Jabdighat Khola in Bardia by hiring a new contractor some time back after calling off the contract with the previous contractor.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Similarly, the contract for the Balaju-Trishuli road has also been annulled after the contractor made no progress for a long time. Earlier, there was a practice of extending the contract period of projects which remained stalled for long in the past years, sometimes citing the COVID-19 pandemic and sometimes pointing to the amendment of the Public Procurement Regulations. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">But nowadays, not only the Department of Roads but the Ministry of Physical Infrastructure and Transport is showing its interest in managing the so-called problematic contracts'. Ever since he took charge of the Ministry of Physical Infrastructure and Transport, Minister Prakash Jwala has shown his eagerness in annulling the contracts of the contractors not carrying out their works and keeping the construction projects in limbo for a long time.</span> -- <span style="font-size:14.0pt">RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17867', 'image' => '20230611110903_construction.jpg', 'article_date' => '2023-06-11 11:08:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '18136', 'article_category_id' => '1', 'title' => 'Three Arrested For Scamming People by Creating Facebook Page Home and Land Loan Service ', 'sub_title' => '', 'summary' => 'Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service."', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: Police have arrested three individuals on the charges of scamming people by creating a Facebook page called "House and Land Loan Service." </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested individuals are Nakul Chalise, Akash Bhattarai, and Ram Chandra Chalise, all aged 27.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The arrested had allegedly created a loan service page on Facebook four months ago, claiming that they provide loans for purchasing houses and land. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">They lured various individuals by promising to provide loans and asked them to contact them. They had defrauded different people by taking checks and cash totaling Rs 5,720,000.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Furthermore, they are found to have misused another person's citizenship, opened bank accounts in various banks, involved in fraudulent activities by issuing checks. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The District Police Office Kathmandu has arrested them for their alleged involvement in fraud and banking offenses. “Police have launched an investigation into them,” said a source at Kathmandu District Police Office. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17866', 'image' => '20230611064202_collage (16).jpg', 'article_date' => '2023-06-11 06:40:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '18135', 'article_category_id' => '1', 'title' => 'Test Production of 14-Megawatt Gharkhola Hydropower Project Commences', 'sub_title' => '', 'summary' => 'The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 11: The test production of the 14-megawatt Gharghola hydropower project, which was constructed at a cost of Rs2.80 billion, has begun.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The testing started on June 7 by sending water through the Penstock and tunnel. The goal is to start commercial production within the current fiscal year after conducting test production, said the hydropower company. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">"The test production has started. If no problems arise, it will begin commercial production within the current fiscal year,” said hydropower’s accountant Harikrishna Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The Nepal Electricity Authority(NEA) also needs to conduct test production before starting commercial production. The company also has plans to issue Initial Public Offering(IPO). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The project has been constructed in Annapurna Rural Municipality of Myagdi. Approximately 3,500 meter- long tunnel has been constructed in the project. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The civil works of this project, which has been under construction since 2074 BS, were carried out by South Asian Infrastructure Private Limited. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The electricity generated from the project will be connected to Nepal Electricity Authority's Dana sub-station. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">For that purpose, a 33-kilometer transmission line has been constructed, spanning approximately 8 kilometers in length.</span></span></p> ', 'published' => true, 'created' => '2023-06-11', 'modified' => '2023-06-11', 'keywords' => '', 'description' => '', 'sortorder' => '17865', 'image' => '20230611062051_collage (15).jpg', 'article_date' => '2023-06-11 06:18:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '18134', 'article_category_id' => '1', 'title' => 'Nepal Becoming a Favourite Destination for Foreign Filmmakers ', 'sub_title' => '', 'summary' => 'June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Film shooting of Indian movies and web series has been increasing in Nepal of late. Although Nepal has been a favoured destination for filming on documentaries produced in English language, the number of Indian films shot here was not much encouraging until recently. Two years ago, the movie 'Uunchai' was shot in Nepal for a month. The country got much needed publicity through this film starring popular Indian artists like Amitabh Bachchan, Anupam Kher, Danny Denzongpa, Boman Irani and Parineeti Chopra. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nowadays, along with Indian movies, TV serials are also being shot in Nepal. Some time ago, Indian movie Mirai was shot in Kathmandu. At the same time, Indian director Anubhav Sinha also filmed a series for 10 days starting from Kathmandu to Pokhara. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Production coordinator Arun Regmi said that the attraction of foreign film makers in Nepal is increasing. "While working with foreign groups, Nepali technicians also get to learn. Their working style is mature. You learn how to work in a large group," said coordinator Regmi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with him, Suraj Acharya's company Three Wheelers has carried out the management of director Sinha's series, Farji and Uunchai in Nepal in the last two years. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On Friday, a team that came from India to select the location for the shooting of the movie starring Bollywood actor Sunny Deol has returned after touring Jomsom, Kagbeni, Muktinath areas of Mustang. According to Acharya, preparations are being made for the shooting of the movie in the coming month of November. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Another manager Shankar Pandey said that with the government's budget statement for the fiscal year 2080/81 making Nepal a destination for international film shooting in the future looks bright. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the statistics of the Film Development Board, more than 45 foreign films have been shot in Nepal in the nine months of the current fiscal year. The statistics of the last six years shows that around 243 foreign movies, web series and documentaries have been filmed in the country. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17864', 'image' => '20230610102523_310635398_6655910121108391_5814850061168788886_n.jpg', 'article_date' => '2023-06-10 22:19:12', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '18133', 'article_category_id' => '1', 'title' => 'Arrival of Tourists Increasing in Bardiya National Park ', 'sub_title' => '', 'summary' => 'June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">June 10: Despite the rising temperature, the arrival of domestic and foreign tourists has started to increase in Bardiya National Park. As wild animals including tigers can be seen easily during the summer season, the number of tourists visiting the park has increased, said assistant conservation officer of the park, Badri Binod Dahal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Majority of the tourists come to Bardiya to get a glimpse of tigers in the wild. The number of wild tigers in the national park has increased to 125. In the previous summer season, the park had received 1000 visitors, now it has already reached around 6,000. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, in the previous fiscal year, 10,000 domestic tourists visited the park, which has already reached 15,000 this year. Of them, 400 tourists were from SAARC member countries, which is 1000 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Along with tigers, the park is also home to one-horned rhinoceros, leopard, cheetah, various types of deer and elephants. In addition, 438 species of birds and migratory birds have been recorded in the park. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2023-06-10', 'modified' => '2023-06-10', 'keywords' => '', 'description' => '', 'sortorder' => '17863', 'image' => '20230610101054_1686372556.bbbbb.jpg', 'article_date' => '2023-06-10 22:09:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '18132', 'article_category_id' => '1', 'title' => 'Trade Deficit Declines by 15.9 Percent', 'sub_title' => '', 'summary' => 'June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Nepal’s trade deficit decreased by 15.9 percent in the first ten months of the current fiscal year compared to the corresponding period of last fiscal year. This has been attributed to the decline in imports and exports after the government adopted strict policies and also due to the liquidity problems in the banking sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the review period, the country’s trade deficit stood at Rs 1204.42 billion, according to the latest report of Nepal Rastra Bank (NRB). The Current Macroeconomic and Financial Situation Report released by the central bank on Friday states that such a deficit had increased 24.9 percent in the corresponding period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the ten months of FY 2022/23, merchandise exports decreased 24.5 percent and was recorded at Rs 130.90 billion against an increase of 59.8 percent in the same period of the previous year. Destination-wise, exports to India decreased 33.6 percent whereas exports to China and other countries increased 100.6 percent and 8.2 percent respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB report, exports of zinc sheet, particle board, cardamom, woolen carpets, polyester yarn and thread, among others, increased whereas exports of soybean oil, palm oil, oil cakes, textiles, silverware and jewelries, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, during the ten months of FY 2022/23, merchandise imports decreased 16.8 percent and stood at Rs 1335.32 billion against an increase of 28.0 percent a year ago. Destination-wise, imports from India, China and other countries decreased 15.1 percent, 21.0 percent, and 18.6 percent respectively. Imports of chemical fertilizer, sponge iron, gold, petroleum products, paper, among others, increased whereas imports of transport equipment and parts, MS billet, medicine, other machinery and parts, telecommunication equipment and parts, among others, decreased in the review period.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Based on customs points, exports from Bhairahawa, Dry Port, Kailali, Krishnanagar, Mechi, Rasuwa, Tatopani and Tribhuwan International Airport customs offices increased whereas exports from all the other major customs points decreased in the review period. On the import side, imports from Rasuwa Customs Office increased whereas imports from all the other major customs points decreased in the review period. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17862', 'image' => '20230609054422_Trade.jpg', 'article_date' => '2023-06-09 17:43:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '18130', 'article_category_id' => '1', 'title' => 'Consumer Price Inflation Remains at 7.41 Percent', 'sub_title' => '', 'summary' => 'June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The year-on-year (y-o-y) consumer price inflation remained at 7.41 percent in mid-May 2023 compared to 7.87 percent a year ago, according to the latest report of Nepal Rastra Bank (NRB).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Current Macroeconomic and Financial Situation Report published by the central bank on Friday states that food and beverage inflation during the review month stood at 5.54 percent whereas non-food and service inflation rose to 8.89 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the food and beverage category, y-o-y price index of spices sub-category increased 26.61 percent, restaurant and hotel 14.87 percent, cereal grains and their products 13.69 percent, milk products and eggs 10.41 percent and tobacco products 8.49 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Under the non-food and services category, y-o-y price index of recreation and culture sub-category increased 15.75 percent, miscellaneous goods and services 13.08 percent, education 10.56 percent, housing and utilities 9.65 percent and furnishing and household equipment 8.27 percent.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review month, consumer price inflation in the Kathmandu Valley surged the most to 7.68 percent followed by 7.57 percent in the hills, 7.15 in the Terai and 7.12 percent in the mountains. Inflation in the Kathmandu valley was 7.39 percent a year ago while that of the Terai was 8.15 percent, hills 7.89 percent and mountains 8.21 percent.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17861', 'image' => '20230609035958_Inflation.jpg', 'article_date' => '2023-06-09 15:59:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '18128', 'article_category_id' => '1', 'title' => 'Current Account in Deficit, BoP Registers Surplus', 'sub_title' => '', 'summary' => 'June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: The current account remained at a deficit of Rs 54.67 billion in the first ten months of the current fiscal year compared to a deficit of Rs 545.06 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the latest report of Nepal Rastra Bank (NRB), the current account in terms of the US dollar registered a deficit of 424.5 million in the review period compared to deficit of 4.55 billion in the same period last year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the review period, capital transfer decreased 20.5 percent to Rs 6.36 billion and net foreign direct investment (FDI) remained Rs 4.36 billion, according to the Current Macroeconomic and Financial Situation Report of NRB released on Friday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the same period of the previous year, capital transfer and net FDI amounted to Rs 7.99 billion and Rs 16.65 billion respectively. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report stated that the country received the second installment of Extended Credit Facility (ECF) of Rs 6.88 billion (USD 52.71 million) from the IMF in the tenth month of FY 2022/23. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, the country’s Balance of Payments (BOP) remained at a surplus of Rs 214.67 billion in the review period compared to a deficit of Rs 288.50 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> In terms of US dollar, the BOP remained at a surplus of 1.63 billion in the review period against a deficit of 2.41 billion in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17859', 'image' => '20230609035721_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2023-06-09 15:56:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '18127', 'article_category_id' => '1', 'title' => 'Foreign Exchange Reserves Witness Remarkable Growth', 'sub_title' => '', 'summary' => ' Nepal's foreign exchange reserves have significantly surged. The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">June 9: Nepal's foreign exchange reserves have significantly surged. </span></span><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The economic and financial reported published by Nepal Rastra Bank on Friday states that the current fiscal year's foreign exchange reserves have increased by 20.9 percent until mid-May. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">According to the central bank, the total foreign exchange reserves which stood at Rs 1215. 80 billion in mid-July 2022 increased by 14.6 percent and reached Rs 1470.33 billion till mid-May 2023.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">In terms of US dollars, the foreign exchange reserves stood at USD 9.54 billion in mid-July 2022. However, the foreign exchange reserves increased by 17.6 percent and reached USD 11.21 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Of the total foreign exchange reserves, reserves held by Nepal Rastra Bank increased by 24.1 percent from 1056.39 billion in mid-July 2022 and reached Rs 1310.66 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">Similarly, total reserves held by banks and financial institutions excluding Nepal Rastra Bank saw a marginal rise of 0.2 percent. The reserves that stood at Rs 159.41 billion in mid-July 2022 increased to Rs 159.68 billion till mid-May 2023. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,sans-serif">The foreign exchange reserves are sufficient to import the goods for 11 months and both goods and services for 9.7 months, according to Nepal Rastra Bank.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17858', 'image' => '20230609032617_collage (15).jpg', 'article_date' => '2023-06-09 15:25:00', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 14 => array( 'Article' => array( 'id' => '18126', 'article_category_id' => '1', 'title' => 'Remittance Inflow Increases 23.4 Percent', 'sub_title' => '', 'summary' => 'June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">June 9: Remittance inflow into Nepal in the first ten months of the current fiscal year has reached Rs 1005.18 billion. This amount is 23.4 percent more than the remittance inflow in the corresponding period of the last fiscal year, according to the Current Macroeconomic and Financial Situation Report of Nepal Rastra Bank (NRB) released on Friday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The report states that remittance inflow, in terms of US dollars, increased 13.4 percent to 7.70 billion in the review period against a decrease of 1.2 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the number of Nepali workers taking approval for foreign employment increased 51.4 percent to 421,279 in the review period. It includes both institutional and individual labour permits.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, the number of Nepali workers renewing their labour permits for foreign employment in the review period increased 3.7 percent to 238,976.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It had increased 185.5 percent in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, net transfer increased 22.5 percent to Rs 1110.22 billion in the review period. Such a transfer had increased 0.3 percent in the same period of the previous year.</span></span></p> ', 'published' => true, 'created' => '2023-06-09', 'modified' => '2023-06-09', 'keywords' => '', 'description' => '', 'sortorder' => '17857', 'image' => '20230609025641_Remittance.jpg', 'article_date' => '2023-06-09 14:55:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
