May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY…
May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY…
May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in…
May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits.…
May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal…
May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on…
May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from…
May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on…
May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's…
May 23: Nepal's public debt liability has exceeded Rs 2150 billion.…
May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday…
May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of…
Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the…
Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from…
May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to…
May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines.…
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17949', 'article_category_id' => '1', 'title' => 'Police Submit Report on Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office. The report was submitted on the 57th day since the police launched an investigation into the scam. The law stipulates that those investigated should be sued within 60 days of the beginning of the investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for Nepal Police and Deputy Inspector General (DIG) Kuber Kadayat told RSS that the report recommended that a case of fraud, organized crime and crime against the State be registered against those found guilty in the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Public Prosecutor could however consider changes in the report, said DIG Kadayat, adding since there was prospects of investigating the case from the angle of money laundering and abuse of authority, the scammers could also attract the case on these charges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have so far arrested 16 people including former ministers and sitting government secretary on the charge of their involvement in sending people to the United States identifying them as Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have suggested the Office of the Public Prosecutor to register case against additional 16 to 17 accused in the scam. The Public Prosecutor's Office will also proceed the prosecution if need be, said Chief of the District Public Prosecutor's Office, Achyutmani Neupane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those arrested in this connection are former Deputy Prime Minister Top Bahadur Rayamajhi, former home minister Bal Krishna Khand, suspended secretary (former home secretary) Tek Narayan Pandey, former MP Dr Indrajeet Rai - security advisor to former home minister Ram Bahadur Thapa among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, others arrested ones in connection with the scam are refugee leader Teknath Rijal, Chairperson of Nepal Haj Committee, Samsher Minya, former lawmaker Angtawa Sherpa, personal secretary of the then home minister, Narendra KC, son of former Deputy Prime Minister Rayamajhi, Sandip Rayamajhi, Keshav Dulal, Sanu Bhandari, Sandesh Sharma, Sagar Rai, Tanka Gurung, Govind Chaudhary and Ram Sharan KC. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Pratik Thapa, son of former home minister Ram Bahadur Thapa, and Niraj Rai, son of Indrajeet Rai, have been absconding. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 22 complaints have been filed in relation to the fake Bhutanese refugees scam on behalf of the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 113 people have come in contact with the police saying that they were the victims in the case of the fake Bhutanese refugees scam. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“A total of 22 complaints have been registered on behalf of the victims,” said District Police Range Kathmandu’s Superintendent of Police (SP) Sitaram Rijal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims have alleged that more than Rs 270 million has been defrauded from them. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17680', 'image' => '20230523112751_20230503063116_images.jpg', 'article_date' => '2023-05-23 11:26:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17948', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2150 Billion ', 'sub_title' => '', 'summary' => 'May 23: Nepal's public debt liability has exceeded Rs 2150 billion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Nepal's public debt liability has exceeded Rs 2150 billion. According to the Public Debt Management Office, Nepal has been obliged to pay its public debt amounting over to Rs 2154.12 billion, including Rs 1083.47 billion towards internal debt and Rs 1070.64 billion towards external debt as of May 14, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's public debt liability was Rs 2013.29 billion until mid-July last year when the current fiscal year (FY 2022/23) had begun. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public debt amounting to Rs 140.82 billion was added to the country's debt portfolio in the last 10 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ratio of public debt to the GDP appeared to be 44.40 percent while considering Nepal's Gross Domestic Production (GDP) as Rs 4851.62 billion, the office said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rise of public debt ratio to the GDP and weak economic growth rate due to low capital formation could put the country's economy in crisis in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Public Debt Management Office, the government has raised public debt of Rs 230.24 billion in the first 10 months of the current fiscal year. Likewise, the government has paid principle and interest amounting to Rs 143.42 billion in the review period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of May 14 this year, the government spending in the repayment of principle and interest of public debt exceeded the capital spending by around Rs 18 billion. The government has spent Rs 125.67 billion towards capital budget up to May 14 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the one hand, the government's capacity to collect public revenue has declined resulting in a budget deficit while on the other hand a large sum of the annual budget is being spent for the repayment of principle amount of the rising public debt. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17679', 'image' => '20230523105433_public debt.jpg', 'article_date' => '2023-05-23 10:53:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17947', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajura ', 'sub_title' => '', 'summary' => 'May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake with its epicentre at Bichhiya was recorded at 6:45 pm, according to the National Seismological Centre, Lainchour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier on Sunday, another earthquake measuring on 4.1 on the Richter scale was also recorded with its epicentre at Hukam in the district. Western Nepal has been frequently hit by earthquakes in recent months. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17678', 'image' => '20230523104438_earth.jpg', 'article_date' => '2023-05-23 10:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17945', 'article_category_id' => '1', 'title' => '500 People Climb Mount Everest', 'sub_title' => '', 'summary' => 'May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday. </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 Department of Tourism confirmed that five hundred mountaineers and guides have scaled Mt Everest during this year’s spring climbing season which started on May 13 after the icefall doctors fixed the ropes to the top of Everest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Until today around 500 people, including Sherpas guides have climbed Mount Everest,” said a source at the department. A total of 478 mountaineers had obtained an expedition permit to climb Mount Everest in the spring season. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Director General of the Department Hom Prasad Luintel said that the weather has remained favorable, and the expedition of the different mountains including Everest has been encouraging so far. </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 478 permits issued is the highest number of permits issued for climbing Everest till date. They include 103 women and 376 men from 47 mountaineering teams, added the department.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Ten people, including six foreigners and four Sherpas, have already died while climbing Everest this season.</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 AFP, an average of five people die while attempting to climb Everest every year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17676', 'image' => '20230522062827_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2023-05-22 18:26:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17944', 'article_category_id' => '1', 'title' => 'Government Policies, and Programmes Lack Plan to Address Economic Crisis: RPP Chair Lingden', 'sub_title' => '', 'summary' => 'Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> During a meeting of the lower house today, Lingden expressed his disappointment that the policies and programs did not provide a roadmap for the future. He pointed out that these documents failed to identify and prioritize the problems effectively and presented some contradictory issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lingden emphasized the need for employment-based industries, subsidies in electricity, and discouragement of unnecessary hurdles from trade unions to promote industrial growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Lingden also advocated for the promotion of religious tourism alongside the tourism industry, considering Nepal as the birthplace of orientalism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Ganesh Parajuli of the Rastriya Swatantra Party questioned whether the government's policies and programs genuinely addressed economic issues, stating that a remittance-based economy is not sustainable. Parajuli urged all political parties to unite against corruption. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17675', 'image' => '20230522053909_collage (15).jpg', 'article_date' => '2023-05-22 17:34:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17943', 'article_category_id' => '1', 'title' => 'India and Bangladesh Eager to Purchase Power from Nepal: NEA Managing Director Ghishing', 'sub_title' => '', 'summary' => 'Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a program where an agreement was signed with the Employees Provident Fund (EPF) for investment in the Tamakoshi Fifth Hydropower Project, Ghising highlighted the interest of India and Bangladesh in purchasing power from Nepal. He emphasized that power exports during the rainy season would fetch better rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The EPF has already invested in various hydropower projects, including Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the Tamakoshi Fifth project, which will be based in Bigu Rural Municipality in Dolakha and has a capacity of 99.8 megawatts, the EPF plans to invest Rs 13.74 billion. The total project cost, including construction period interest, amounts to Rs 21.14 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will issue shares to the public under the People's Hydropower Program. The project's financial structure consists of 65% loan and 35% equity fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Sunday, a tri-party agreement was signed among the NEA, Tamakoshi Hydropower Company (the project's promoter), and the EPF in the presence of the Minister for Energy, Water Resources, and Irrigation, Shakti Basnet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA Managing Director Ghising, EPF Administrator Jitendra Dhital, and Company Chief Executive Officer Binod Bhandari signed the agreement on behalf of their respective organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At the event, Minister Basnet reiterated the government's priority for hydropower production and the strengthening of transmission systems. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Basnet highlighted Nepal's potential for green energy and stressed the importance of completing the project on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17674', 'image' => '20230522033833_collage (11).jpg', 'article_date' => '2023-05-22 15:37:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17942', 'article_category_id' => '1', 'title' => 'Signs of Improvement in Foreign Trade', 'sub_title' => '', 'summary' => 'May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve. Along with the increase in foreign exchange reserves, the ban on the import of some luxury goods was revoked, and the Nepal Rastra Bank abolished the requirement to keep a cash margin when opening an LC for imports. As a result, imports started to increase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal’s foreign trade until the month of Baishak (mid-April to mid-May) amounted to Rs 1466.2 billion. This year's foreign trade is 17.54 per cent less compared to Rs 1778 billion in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to last year, the overall foreign trade has decreased, but it has started to improve after mid-March. In Chaitra (mid-March to mid-April) of the current fiscal year, while the import was worth Rs 143.12 billion, the export was worth Rs 134.8 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB has tightened imports since last year due to the high trade deficit and declining foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had also reduced the quota of gold and silver imports while implementing the provision of keeping a cash margin when opening letters of credit (LC) for the import of goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government banned the import of various luxury goods for 8 months from mid-April last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As the current account has gone to surplus, the foreign currency reserves have also increased, and the import ban has been lifted by the government. NRB has also removed the provision of cash margin from the month of Magh (mid-January to mid-February).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Until Baishak (mid-April to mid-May), Nepal imported goods worth Rs 1335.32 billion. During the same period, goods worth Rs 130.9 billion were exported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to the previous year, imports have decreased by 16.78 per cent and exports by 24.49 per cent. By Baishak of last year, the import was equal to Rs 1646.5 billion and the export was equal to Rs 173 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The trade deficit till Baishak is Rs 1204.42 billion. This is 15.85 per cent less than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the country's current account is in surplus by 180.1 billion as of Chait (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The total foreign exchange reserve which was Rs 1215 billion in Ashar 2079 increased by 17.9 per cent to 1433.7 billion in Chaitra. With the increase in foreign exchange reserves, the ability to meet the import of goods and services from abroad has also improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NRB's report, the foreign exchange reserves of the banking sector are sufficient to support 11 months of goods imports and 9.4 months of goods and services imports. According to the improvement in the external situation of the economy, the NRB has also made the monetary policy flexible.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17673', 'image' => '20230522032753_Trade.jpg', 'article_date' => '2023-05-22 15:26:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17941', 'article_category_id' => '1', 'title' => 'Department of Mines and Geology Issues Licenses for Exploration of 420 Mines ', 'sub_title' => '', 'summary' => 'May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. The department issued the permits for the exploration of possible mines so far in the current fiscal year, said Narayan Banskota, the department's Information Officer. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Banskota said licenses have been provided for exploration of iron ore, copper, gold, limestone, granite, ruby, dolomite, among other minerals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said permit has also been given for opening a mine for the extraction of iron ore at Dhaubadi of Nawalparasi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has identified 50 mines so far and issued licenses to different companies for their operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department's Director General Dr Sudheer Rajaure shared that the department has carried out exploration of mines at more than 10 places this year alone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, study is underway for iron ore at Luhakot of Sankhuwasabha, for copper at Dingla of Bhojpur, for granite at Khaniyakharka of Sindhuli, for dolomite at Sunaula Bazaar and for ruby at Ganesh Himal of Dhading, for copper in Rukum, for iron ore at Ratuwamai of Udayapur, for ceramics in Madhes Province and for limestone at Benighat of Dhading. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the department has been carrying out feasibility study of mines at several places of the country each year, it takes years since their reports are available due to the shortage of scientists at its lab. The department's lab has 11 allocated positions, but only two are working there at present. The report of the mine whose study was conducted in 2015 has not been prepared till date due to the same reason. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue totaling Rs 356.63 million till March 14 of the current fiscal year through issuance of licenses and permits for mine exploration. It had collected Rs 934.50 million as of mid-March last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17672', 'image' => '20230522024649_1684736669.khani.jpg', 'article_date' => '2023-05-22 14:45:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17949', 'article_category_id' => '1', 'title' => 'Police Submit Report on Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office. The report was submitted on the 57th day since the police launched an investigation into the scam. The law stipulates that those investigated should be sued within 60 days of the beginning of the investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for Nepal Police and Deputy Inspector General (DIG) Kuber Kadayat told RSS that the report recommended that a case of fraud, organized crime and crime against the State be registered against those found guilty in the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Public Prosecutor could however consider changes in the report, said DIG Kadayat, adding since there was prospects of investigating the case from the angle of money laundering and abuse of authority, the scammers could also attract the case on these charges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have so far arrested 16 people including former ministers and sitting government secretary on the charge of their involvement in sending people to the United States identifying them as Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have suggested the Office of the Public Prosecutor to register case against additional 16 to 17 accused in the scam. The Public Prosecutor's Office will also proceed the prosecution if need be, said Chief of the District Public Prosecutor's Office, Achyutmani Neupane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those arrested in this connection are former Deputy Prime Minister Top Bahadur Rayamajhi, former home minister Bal Krishna Khand, suspended secretary (former home secretary) Tek Narayan Pandey, former MP Dr Indrajeet Rai - security advisor to former home minister Ram Bahadur Thapa among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, others arrested ones in connection with the scam are refugee leader Teknath Rijal, Chairperson of Nepal Haj Committee, Samsher Minya, former lawmaker Angtawa Sherpa, personal secretary of the then home minister, Narendra KC, son of former Deputy Prime Minister Rayamajhi, Sandip Rayamajhi, Keshav Dulal, Sanu Bhandari, Sandesh Sharma, Sagar Rai, Tanka Gurung, Govind Chaudhary and Ram Sharan KC. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Pratik Thapa, son of former home minister Ram Bahadur Thapa, and Niraj Rai, son of Indrajeet Rai, have been absconding. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 22 complaints have been filed in relation to the fake Bhutanese refugees scam on behalf of the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 113 people have come in contact with the police saying that they were the victims in the case of the fake Bhutanese refugees scam. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“A total of 22 complaints have been registered on behalf of the victims,” said District Police Range Kathmandu’s Superintendent of Police (SP) Sitaram Rijal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims have alleged that more than Rs 270 million has been defrauded from them. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17680', 'image' => '20230523112751_20230503063116_images.jpg', 'article_date' => '2023-05-23 11:26:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17948', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2150 Billion ', 'sub_title' => '', 'summary' => 'May 23: Nepal's public debt liability has exceeded Rs 2150 billion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Nepal's public debt liability has exceeded Rs 2150 billion. According to the Public Debt Management Office, Nepal has been obliged to pay its public debt amounting over to Rs 2154.12 billion, including Rs 1083.47 billion towards internal debt and Rs 1070.64 billion towards external debt as of May 14, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's public debt liability was Rs 2013.29 billion until mid-July last year when the current fiscal year (FY 2022/23) had begun. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public debt amounting to Rs 140.82 billion was added to the country's debt portfolio in the last 10 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ratio of public debt to the GDP appeared to be 44.40 percent while considering Nepal's Gross Domestic Production (GDP) as Rs 4851.62 billion, the office said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rise of public debt ratio to the GDP and weak economic growth rate due to low capital formation could put the country's economy in crisis in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Public Debt Management Office, the government has raised public debt of Rs 230.24 billion in the first 10 months of the current fiscal year. Likewise, the government has paid principle and interest amounting to Rs 143.42 billion in the review period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of May 14 this year, the government spending in the repayment of principle and interest of public debt exceeded the capital spending by around Rs 18 billion. The government has spent Rs 125.67 billion towards capital budget up to May 14 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the one hand, the government's capacity to collect public revenue has declined resulting in a budget deficit while on the other hand a large sum of the annual budget is being spent for the repayment of principle amount of the rising public debt. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17679', 'image' => '20230523105433_public debt.jpg', 'article_date' => '2023-05-23 10:53:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17947', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajura ', 'sub_title' => '', 'summary' => 'May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake with its epicentre at Bichhiya was recorded at 6:45 pm, according to the National Seismological Centre, Lainchour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier on Sunday, another earthquake measuring on 4.1 on the Richter scale was also recorded with its epicentre at Hukam in the district. Western Nepal has been frequently hit by earthquakes in recent months. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17678', 'image' => '20230523104438_earth.jpg', 'article_date' => '2023-05-23 10:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17945', 'article_category_id' => '1', 'title' => '500 People Climb Mount Everest', 'sub_title' => '', 'summary' => 'May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday. </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 Department of Tourism confirmed that five hundred mountaineers and guides have scaled Mt Everest during this year’s spring climbing season which started on May 13 after the icefall doctors fixed the ropes to the top of Everest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Until today around 500 people, including Sherpas guides have climbed Mount Everest,” said a source at the department. A total of 478 mountaineers had obtained an expedition permit to climb Mount Everest in the spring season. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Director General of the Department Hom Prasad Luintel said that the weather has remained favorable, and the expedition of the different mountains including Everest has been encouraging so far. </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 478 permits issued is the highest number of permits issued for climbing Everest till date. They include 103 women and 376 men from 47 mountaineering teams, added the department.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Ten people, including six foreigners and four Sherpas, have already died while climbing Everest this season.</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 AFP, an average of five people die while attempting to climb Everest every year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17676', 'image' => '20230522062827_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2023-05-22 18:26:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17944', 'article_category_id' => '1', 'title' => 'Government Policies, and Programmes Lack Plan to Address Economic Crisis: RPP Chair Lingden', 'sub_title' => '', 'summary' => 'Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> During a meeting of the lower house today, Lingden expressed his disappointment that the policies and programs did not provide a roadmap for the future. He pointed out that these documents failed to identify and prioritize the problems effectively and presented some contradictory issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lingden emphasized the need for employment-based industries, subsidies in electricity, and discouragement of unnecessary hurdles from trade unions to promote industrial growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Lingden also advocated for the promotion of religious tourism alongside the tourism industry, considering Nepal as the birthplace of orientalism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Ganesh Parajuli of the Rastriya Swatantra Party questioned whether the government's policies and programs genuinely addressed economic issues, stating that a remittance-based economy is not sustainable. Parajuli urged all political parties to unite against corruption. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17675', 'image' => '20230522053909_collage (15).jpg', 'article_date' => '2023-05-22 17:34:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17943', 'article_category_id' => '1', 'title' => 'India and Bangladesh Eager to Purchase Power from Nepal: NEA Managing Director Ghishing', 'sub_title' => '', 'summary' => 'Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a program where an agreement was signed with the Employees Provident Fund (EPF) for investment in the Tamakoshi Fifth Hydropower Project, Ghising highlighted the interest of India and Bangladesh in purchasing power from Nepal. He emphasized that power exports during the rainy season would fetch better rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The EPF has already invested in various hydropower projects, including Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the Tamakoshi Fifth project, which will be based in Bigu Rural Municipality in Dolakha and has a capacity of 99.8 megawatts, the EPF plans to invest Rs 13.74 billion. The total project cost, including construction period interest, amounts to Rs 21.14 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will issue shares to the public under the People's Hydropower Program. The project's financial structure consists of 65% loan and 35% equity fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Sunday, a tri-party agreement was signed among the NEA, Tamakoshi Hydropower Company (the project's promoter), and the EPF in the presence of the Minister for Energy, Water Resources, and Irrigation, Shakti Basnet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA Managing Director Ghising, EPF Administrator Jitendra Dhital, and Company Chief Executive Officer Binod Bhandari signed the agreement on behalf of their respective organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At the event, Minister Basnet reiterated the government's priority for hydropower production and the strengthening of transmission systems. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Basnet highlighted Nepal's potential for green energy and stressed the importance of completing the project on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17674', 'image' => '20230522033833_collage (11).jpg', 'article_date' => '2023-05-22 15:37:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17942', 'article_category_id' => '1', 'title' => 'Signs of Improvement in Foreign Trade', 'sub_title' => '', 'summary' => 'May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve. Along with the increase in foreign exchange reserves, the ban on the import of some luxury goods was revoked, and the Nepal Rastra Bank abolished the requirement to keep a cash margin when opening an LC for imports. As a result, imports started to increase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal’s foreign trade until the month of Baishak (mid-April to mid-May) amounted to Rs 1466.2 billion. This year's foreign trade is 17.54 per cent less compared to Rs 1778 billion in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to last year, the overall foreign trade has decreased, but it has started to improve after mid-March. In Chaitra (mid-March to mid-April) of the current fiscal year, while the import was worth Rs 143.12 billion, the export was worth Rs 134.8 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB has tightened imports since last year due to the high trade deficit and declining foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had also reduced the quota of gold and silver imports while implementing the provision of keeping a cash margin when opening letters of credit (LC) for the import of goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government banned the import of various luxury goods for 8 months from mid-April last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As the current account has gone to surplus, the foreign currency reserves have also increased, and the import ban has been lifted by the government. NRB has also removed the provision of cash margin from the month of Magh (mid-January to mid-February).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Until Baishak (mid-April to mid-May), Nepal imported goods worth Rs 1335.32 billion. During the same period, goods worth Rs 130.9 billion were exported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to the previous year, imports have decreased by 16.78 per cent and exports by 24.49 per cent. By Baishak of last year, the import was equal to Rs 1646.5 billion and the export was equal to Rs 173 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The trade deficit till Baishak is Rs 1204.42 billion. This is 15.85 per cent less than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the country's current account is in surplus by 180.1 billion as of Chait (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The total foreign exchange reserve which was Rs 1215 billion in Ashar 2079 increased by 17.9 per cent to 1433.7 billion in Chaitra. With the increase in foreign exchange reserves, the ability to meet the import of goods and services from abroad has also improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NRB's report, the foreign exchange reserves of the banking sector are sufficient to support 11 months of goods imports and 9.4 months of goods and services imports. According to the improvement in the external situation of the economy, the NRB has also made the monetary policy flexible.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17673', 'image' => '20230522032753_Trade.jpg', 'article_date' => '2023-05-22 15:26:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17941', 'article_category_id' => '1', 'title' => 'Department of Mines and Geology Issues Licenses for Exploration of 420 Mines ', 'sub_title' => '', 'summary' => 'May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. The department issued the permits for the exploration of possible mines so far in the current fiscal year, said Narayan Banskota, the department's Information Officer. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Banskota said licenses have been provided for exploration of iron ore, copper, gold, limestone, granite, ruby, dolomite, among other minerals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said permit has also been given for opening a mine for the extraction of iron ore at Dhaubadi of Nawalparasi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has identified 50 mines so far and issued licenses to different companies for their operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department's Director General Dr Sudheer Rajaure shared that the department has carried out exploration of mines at more than 10 places this year alone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, study is underway for iron ore at Luhakot of Sankhuwasabha, for copper at Dingla of Bhojpur, for granite at Khaniyakharka of Sindhuli, for dolomite at Sunaula Bazaar and for ruby at Ganesh Himal of Dhading, for copper in Rukum, for iron ore at Ratuwamai of Udayapur, for ceramics in Madhes Province and for limestone at Benighat of Dhading. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the department has been carrying out feasibility study of mines at several places of the country each year, it takes years since their reports are available due to the shortage of scientists at its lab. The department's lab has 11 allocated positions, but only two are working there at present. The report of the mine whose study was conducted in 2015 has not been prepared till date due to the same reason. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue totaling Rs 356.63 million till March 14 of the current fiscal year through issuance of licenses and permits for mine exploration. It had collected Rs 934.50 million as of mid-March last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17672', 'image' => '20230522024649_1684736669.khani.jpg', 'article_date' => '2023-05-22 14:45:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17949', 'article_category_id' => '1', 'title' => 'Police Submit Report on Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office. The report was submitted on the 57th day since the police launched an investigation into the scam. The law stipulates that those investigated should be sued within 60 days of the beginning of the investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for Nepal Police and Deputy Inspector General (DIG) Kuber Kadayat told RSS that the report recommended that a case of fraud, organized crime and crime against the State be registered against those found guilty in the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Public Prosecutor could however consider changes in the report, said DIG Kadayat, adding since there was prospects of investigating the case from the angle of money laundering and abuse of authority, the scammers could also attract the case on these charges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have so far arrested 16 people including former ministers and sitting government secretary on the charge of their involvement in sending people to the United States identifying them as Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have suggested the Office of the Public Prosecutor to register case against additional 16 to 17 accused in the scam. The Public Prosecutor's Office will also proceed the prosecution if need be, said Chief of the District Public Prosecutor's Office, Achyutmani Neupane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those arrested in this connection are former Deputy Prime Minister Top Bahadur Rayamajhi, former home minister Bal Krishna Khand, suspended secretary (former home secretary) Tek Narayan Pandey, former MP Dr Indrajeet Rai - security advisor to former home minister Ram Bahadur Thapa among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, others arrested ones in connection with the scam are refugee leader Teknath Rijal, Chairperson of Nepal Haj Committee, Samsher Minya, former lawmaker Angtawa Sherpa, personal secretary of the then home minister, Narendra KC, son of former Deputy Prime Minister Rayamajhi, Sandip Rayamajhi, Keshav Dulal, Sanu Bhandari, Sandesh Sharma, Sagar Rai, Tanka Gurung, Govind Chaudhary and Ram Sharan KC. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Pratik Thapa, son of former home minister Ram Bahadur Thapa, and Niraj Rai, son of Indrajeet Rai, have been absconding. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 22 complaints have been filed in relation to the fake Bhutanese refugees scam on behalf of the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 113 people have come in contact with the police saying that they were the victims in the case of the fake Bhutanese refugees scam. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“A total of 22 complaints have been registered on behalf of the victims,” said District Police Range Kathmandu’s Superintendent of Police (SP) Sitaram Rijal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims have alleged that more than Rs 270 million has been defrauded from them. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17680', 'image' => '20230523112751_20230503063116_images.jpg', 'article_date' => '2023-05-23 11:26:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17948', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2150 Billion ', 'sub_title' => '', 'summary' => 'May 23: Nepal's public debt liability has exceeded Rs 2150 billion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Nepal's public debt liability has exceeded Rs 2150 billion. According to the Public Debt Management Office, Nepal has been obliged to pay its public debt amounting over to Rs 2154.12 billion, including Rs 1083.47 billion towards internal debt and Rs 1070.64 billion towards external debt as of May 14, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's public debt liability was Rs 2013.29 billion until mid-July last year when the current fiscal year (FY 2022/23) had begun. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public debt amounting to Rs 140.82 billion was added to the country's debt portfolio in the last 10 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ratio of public debt to the GDP appeared to be 44.40 percent while considering Nepal's Gross Domestic Production (GDP) as Rs 4851.62 billion, the office said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rise of public debt ratio to the GDP and weak economic growth rate due to low capital formation could put the country's economy in crisis in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Public Debt Management Office, the government has raised public debt of Rs 230.24 billion in the first 10 months of the current fiscal year. Likewise, the government has paid principle and interest amounting to Rs 143.42 billion in the review period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of May 14 this year, the government spending in the repayment of principle and interest of public debt exceeded the capital spending by around Rs 18 billion. The government has spent Rs 125.67 billion towards capital budget up to May 14 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the one hand, the government's capacity to collect public revenue has declined resulting in a budget deficit while on the other hand a large sum of the annual budget is being spent for the repayment of principle amount of the rising public debt. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17679', 'image' => '20230523105433_public debt.jpg', 'article_date' => '2023-05-23 10:53:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17947', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajura ', 'sub_title' => '', 'summary' => 'May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake with its epicentre at Bichhiya was recorded at 6:45 pm, according to the National Seismological Centre, Lainchour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier on Sunday, another earthquake measuring on 4.1 on the Richter scale was also recorded with its epicentre at Hukam in the district. Western Nepal has been frequently hit by earthquakes in recent months. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17678', 'image' => '20230523104438_earth.jpg', 'article_date' => '2023-05-23 10:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17945', 'article_category_id' => '1', 'title' => '500 People Climb Mount Everest', 'sub_title' => '', 'summary' => 'May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday. </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 Department of Tourism confirmed that five hundred mountaineers and guides have scaled Mt Everest during this year’s spring climbing season which started on May 13 after the icefall doctors fixed the ropes to the top of Everest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Until today around 500 people, including Sherpas guides have climbed Mount Everest,” said a source at the department. A total of 478 mountaineers had obtained an expedition permit to climb Mount Everest in the spring season. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Director General of the Department Hom Prasad Luintel said that the weather has remained favorable, and the expedition of the different mountains including Everest has been encouraging so far. </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 478 permits issued is the highest number of permits issued for climbing Everest till date. They include 103 women and 376 men from 47 mountaineering teams, added the department.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Ten people, including six foreigners and four Sherpas, have already died while climbing Everest this season.</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 AFP, an average of five people die while attempting to climb Everest every year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17676', 'image' => '20230522062827_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2023-05-22 18:26:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17944', 'article_category_id' => '1', 'title' => 'Government Policies, and Programmes Lack Plan to Address Economic Crisis: RPP Chair Lingden', 'sub_title' => '', 'summary' => 'Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> During a meeting of the lower house today, Lingden expressed his disappointment that the policies and programs did not provide a roadmap for the future. He pointed out that these documents failed to identify and prioritize the problems effectively and presented some contradictory issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lingden emphasized the need for employment-based industries, subsidies in electricity, and discouragement of unnecessary hurdles from trade unions to promote industrial growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Lingden also advocated for the promotion of religious tourism alongside the tourism industry, considering Nepal as the birthplace of orientalism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Ganesh Parajuli of the Rastriya Swatantra Party questioned whether the government's policies and programs genuinely addressed economic issues, stating that a remittance-based economy is not sustainable. Parajuli urged all political parties to unite against corruption. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17675', 'image' => '20230522053909_collage (15).jpg', 'article_date' => '2023-05-22 17:34:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17943', 'article_category_id' => '1', 'title' => 'India and Bangladesh Eager to Purchase Power from Nepal: NEA Managing Director Ghishing', 'sub_title' => '', 'summary' => 'Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a program where an agreement was signed with the Employees Provident Fund (EPF) for investment in the Tamakoshi Fifth Hydropower Project, Ghising highlighted the interest of India and Bangladesh in purchasing power from Nepal. He emphasized that power exports during the rainy season would fetch better rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The EPF has already invested in various hydropower projects, including Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the Tamakoshi Fifth project, which will be based in Bigu Rural Municipality in Dolakha and has a capacity of 99.8 megawatts, the EPF plans to invest Rs 13.74 billion. The total project cost, including construction period interest, amounts to Rs 21.14 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will issue shares to the public under the People's Hydropower Program. The project's financial structure consists of 65% loan and 35% equity fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Sunday, a tri-party agreement was signed among the NEA, Tamakoshi Hydropower Company (the project's promoter), and the EPF in the presence of the Minister for Energy, Water Resources, and Irrigation, Shakti Basnet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA Managing Director Ghising, EPF Administrator Jitendra Dhital, and Company Chief Executive Officer Binod Bhandari signed the agreement on behalf of their respective organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At the event, Minister Basnet reiterated the government's priority for hydropower production and the strengthening of transmission systems. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Basnet highlighted Nepal's potential for green energy and stressed the importance of completing the project on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17674', 'image' => '20230522033833_collage (11).jpg', 'article_date' => '2023-05-22 15:37:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17942', 'article_category_id' => '1', 'title' => 'Signs of Improvement in Foreign Trade', 'sub_title' => '', 'summary' => 'May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve. Along with the increase in foreign exchange reserves, the ban on the import of some luxury goods was revoked, and the Nepal Rastra Bank abolished the requirement to keep a cash margin when opening an LC for imports. As a result, imports started to increase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal’s foreign trade until the month of Baishak (mid-April to mid-May) amounted to Rs 1466.2 billion. This year's foreign trade is 17.54 per cent less compared to Rs 1778 billion in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to last year, the overall foreign trade has decreased, but it has started to improve after mid-March. In Chaitra (mid-March to mid-April) of the current fiscal year, while the import was worth Rs 143.12 billion, the export was worth Rs 134.8 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB has tightened imports since last year due to the high trade deficit and declining foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had also reduced the quota of gold and silver imports while implementing the provision of keeping a cash margin when opening letters of credit (LC) for the import of goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government banned the import of various luxury goods for 8 months from mid-April last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As the current account has gone to surplus, the foreign currency reserves have also increased, and the import ban has been lifted by the government. NRB has also removed the provision of cash margin from the month of Magh (mid-January to mid-February).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Until Baishak (mid-April to mid-May), Nepal imported goods worth Rs 1335.32 billion. During the same period, goods worth Rs 130.9 billion were exported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to the previous year, imports have decreased by 16.78 per cent and exports by 24.49 per cent. By Baishak of last year, the import was equal to Rs 1646.5 billion and the export was equal to Rs 173 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The trade deficit till Baishak is Rs 1204.42 billion. This is 15.85 per cent less than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the country's current account is in surplus by 180.1 billion as of Chait (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The total foreign exchange reserve which was Rs 1215 billion in Ashar 2079 increased by 17.9 per cent to 1433.7 billion in Chaitra. With the increase in foreign exchange reserves, the ability to meet the import of goods and services from abroad has also improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NRB's report, the foreign exchange reserves of the banking sector are sufficient to support 11 months of goods imports and 9.4 months of goods and services imports. According to the improvement in the external situation of the economy, the NRB has also made the monetary policy flexible.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17673', 'image' => '20230522032753_Trade.jpg', 'article_date' => '2023-05-22 15:26:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17941', 'article_category_id' => '1', 'title' => 'Department of Mines and Geology Issues Licenses for Exploration of 420 Mines ', 'sub_title' => '', 'summary' => 'May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. The department issued the permits for the exploration of possible mines so far in the current fiscal year, said Narayan Banskota, the department's Information Officer. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Banskota said licenses have been provided for exploration of iron ore, copper, gold, limestone, granite, ruby, dolomite, among other minerals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said permit has also been given for opening a mine for the extraction of iron ore at Dhaubadi of Nawalparasi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has identified 50 mines so far and issued licenses to different companies for their operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department's Director General Dr Sudheer Rajaure shared that the department has carried out exploration of mines at more than 10 places this year alone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, study is underway for iron ore at Luhakot of Sankhuwasabha, for copper at Dingla of Bhojpur, for granite at Khaniyakharka of Sindhuli, for dolomite at Sunaula Bazaar and for ruby at Ganesh Himal of Dhading, for copper in Rukum, for iron ore at Ratuwamai of Udayapur, for ceramics in Madhes Province and for limestone at Benighat of Dhading. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the department has been carrying out feasibility study of mines at several places of the country each year, it takes years since their reports are available due to the shortage of scientists at its lab. The department's lab has 11 allocated positions, but only two are working there at present. The report of the mine whose study was conducted in 2015 has not been prepared till date due to the same reason. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue totaling Rs 356.63 million till March 14 of the current fiscal year through issuance of licenses and permits for mine exploration. It had collected Rs 934.50 million as of mid-March last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17672', 'image' => '20230522024649_1684736669.khani.jpg', 'article_date' => '2023-05-22 14:45:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 24: The National Assembly on TUesday endorsed the government’s policies and programmes for the upcoming fiscal year (FY 2023-24). </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The upper house of the Federal Parliament session approved the policies and programmes that were presented before the joint session of the Federal Parliament on May 19 by President Ram Chandra Paudel with majority votes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Amendment proposals put forth by Tulasa Kumari Dahal, Bimala Ghimire and Dr Bimala Rai Poudyal were rejected by the majority of NA members. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Prior to the endorsement, Prime Minister Pushpa Kamal Dahal responded to queries raised by upper house lawmakers during the deliberation over the policies and programmes. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The NA shall meet again at 1 PM pm on May 28. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The government will announce the budget for the upcoming fiscal year on May 29 based on the policies and programmes endorsed by both the houses of parliament. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17690', 'image' => '20230524104343_PRO_KTM-066A9590.jpg', 'article_date' => '2023-05-24 10:42:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '17958', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajhang ', 'sub_title' => '', 'summary' => 'May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 24: An early-morning earthquake rocked Bajhang district on Wednesday with its epicentre in Daulichaur. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the National Seismological Centre, Lainchaur, the 4.5-magntitude earthquake took place at 4.06 on Wednesday morning. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, an earthquake measuring 4.1 in the Richter scale had occurred with its epicentre in Hukam of Rukum-East on May 21 followed by a 4.1 magnitude earthquake with its epicentre at Bichhiya of Bajura district on May 22.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of late earthquake has become a recurring phenomenon in the eastern and western areas of Nepal. Nepal's hill and mountainous regions are considered highly vulnerable to earthquakes. -- RSS </span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-24', 'modified' => '2023-05-24', 'keywords' => '', 'description' => '', 'sortorder' => '17689', 'image' => '20230524102230_earth.jpg', 'article_date' => '2023-05-24 10:21:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '17956', 'article_category_id' => '1', 'title' => 'Liquidity Eases but Credit Expansion Remains Low', 'sub_title' => '', 'summary' => 'May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. ', 'content' => '<p><br /> <span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">May 23: The investable capital (liquidity) in the banking system is increasing due to the lack of credit flow compared to the increase in bank deposits. Although the liquidity crisis has eased, the credit expansion has not been possible due to the pressure on bank capital and the tightening of the market conditions.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the Nepal Bankers Association, the CD ratio of commercial banks has dropped to 84.88 percent as of this Baisakh (mid-April to mid-May). As per the directives of Nepal Rastra Bank (NRB), commercial banks can disburse loans by maintaining a CD ratio of 90 percent. Accordingly, banks can disburse Rs 250 billion in loans at present. However, banks have not been able to extend loans due to various reasons.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">By mid-May of the current fiscal year, commercial banks have collected deposits of Rs 299 billion and disbursed only Rs 123.77 billion in loans. The association informed that the liquidity situation in banks has eased due to lack of credit flow compared to deposit collection. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Sunil KC, president of the association and chief executive officer of NMB Bank, says that although the liquidity situation is improving, the credit flow has not increased due to the pressure on bank capital and market conditions. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"Liquidity situation in banks is somewhat comfortable," he said in a press conference held by the association on Monday, "However, due to the pressure on capital and market conditions, banks have to invest cautiously."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The capital adequacy ratio of four out of 21 commercial banks in operation in Nepal has reached the limit set by the central bank. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Ashoke Rana, Chief Executive Officer of Himalayan Bank, said that since it became difficult to expand the business due to the tight capital adequacy ratio, issuance of rights shares or other policy concessions have been requested.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data of Nepal Rastra Bank, the primary capital fund (Tier-One Capital) of 11 banks is less than 10 percent as of mid-January this year. The lowest among them is 8.64 percent of Machhapuchche Bank, while that of Kumari Bank and Prabhu Bank is less than 9 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Banks should keep the primary capital ratio below 8.5 percent. Banks have not been able to expand their business because the primary capital ratio decreases while providing loans. If the capital ratio is less than specified, the central bank will stop distributing dividends to such banks.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As banks get 9 percent interest rate on government bonds, there is less pressure on them to expand loans. Although the central bank has reduced the bank rate following the review of monetary policy, it has not reduced the interest rate of treasury bills.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">However, as the interest rate has been decreasing along with the base rate of the banks lately, the association's president KC said that loans will be expanded in the coming days. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">"The base rate and the interest rate, which had reached a high point, have started to decrease," he said, "If the banks’ capital eases in the next two months, the interest on loans will drop to 6-7 percent."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The central bank had set a target of 13 percent credit expansion in the current fiscal year. According to the association, the base rate, which reached 10.19 percent in January, fell to 10.48 percent in April. Similarly, the interest on loans, which reached 13.03 percent in January, also fell to 12.48 percent in April. President KC said that as per the instructions of the NRB, the interest rate difference between loans and deposits (spread rate) should be reduced to 4 percent from June. At present, the spread rate of banks is 4.2 percent.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17687', 'image' => '20230523041010_Banks - Copy.jpg', 'article_date' => '2023-05-23 16:09:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '17954', 'article_category_id' => '1', 'title' => 'Over 5,000 Cases of Banking Fraud, Financial Crime Registered in Kathmandu Valley ', 'sub_title' => '', 'summary' => 'May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: A total of 5,312 cases related to banking fraud and financial crime have been registered in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the District Police Range, Kathmandu, the highest number of cases have been registered in banking fraud and financial crime in Kathmandu Valley in the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for the Range and Superintendent of Police Sitaram Rijal said out of 9,256 cases registered in Kathmandu Valley in the current fiscal year, more than half are of banking fraud and financial crime. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He shared that most of the cases under banking fraud and financial crimes are related to cheque bounce, dollar exchange, and lottery in recent period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Chief of the police range Senior Superintendent of Police Dan Bahadur Karki mentioned that around 35-40 cases related to baking fraud and financial crime are registered in the range every day, adding cases of banking fraud and organised and financial crime have increased in Kathmandu Valley in recent period. -- RSS </span><br /> </span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17685', 'image' => '20230523025728_banking-offence -800.jpg', 'article_date' => '2023-05-23 14:56:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '17953', 'article_category_id' => '1', 'title' => 'Kamirita Sherpa Reaches Everest Peak for Record 28th Time ', 'sub_title' => '', 'summary' => 'May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Noted climber Kamirita Sherpa scaled Mt Everest for the 28th time on Tuesday. He reportedly reached the summit of the world's highest peak at 9: 23 am. With this, he broke his own record of the highest number of ascents of Mt Everest. This is his second expedition to the world's highest peak in this spring season. He scaled the peak 27th time just a week ago on May 17. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 53-year-old climber has a record of 40 summits to the mountains above 8000 meters including Choyu (eight times), Manaslu (three times), Lhotse and Mount K2. He celebrated his first summit to Everest on May 13, 1994. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Likewise, Pasang Dawa Sherpa has a record of climbing the world's highest peak for the 27th time. The 46-year-old scaled Everest for the second time in this spring on May 22, equaling the record of Kamirita. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Now, Kamirita broke his own record by reaching the top of world for the 28th time. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In Nepal's 70-year-old expedition history, the highest number of permits for mountain climbing were issued in this spring. According to the Department of Tourism, 478 climbers of 44 expedition teams acquired permissions for climbing Everest in this season. --RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17684', 'image' => '20230523022113_20230518105218_FwTHtq6agAEVihB (1).jpg', 'article_date' => '2023-05-23 14:20:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '17952', 'article_category_id' => '1', 'title' => ''Hop On, Hop Off Bus Service' to Operate from Today ', 'sub_title' => '', 'summary' => 'May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The Nepal Tourism Board (NTB) is bringing into operation the 'Hop On, Hop off bus service' from Tuesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">NTB Chief Executive Officer Dr Dhananjaya Regmi said the 'hop on, hop off' bus is coming into operation from May 23 as a mobile bus service along the routes connecting UNESCO world heritage sites in Kathmandu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">“The heritage bus service is coming into operation as per the instruction of Tourism Minister Sudan Kiranti,” he said, adding, “Such bus service is in operation in most of the tourism destinations across the world. Though the operation of the bus service has long been in debate in Nepal, the NTB this time is bringing this service despite possible loss.” </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Two electric Sajha buses would be operated as heritage buses in collaboration with the Ministry of Culture, Tourism and Civil Aviation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The 'hop on, hop off bus' service that would begin from Lalitpur Metropolitan City would operate mobile transport service in the routes connecting the Kathmandu Durbar Square, Narayanhiti Durbar Museum, Pashuptinath Temple, Bouddhanath and Swoyambhu. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">'\”Two buses would be operated in each area from half an hour to 45 minutes gap. After operating free service for some days, charge will be arranged later,” said Regmi. -- RSS</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">--- </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17683', 'image' => '20230523013025_NepalTourismBoard_20220511163003.jpg', 'article_date' => '2023-05-23 13:29:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '17950', 'article_category_id' => '1', 'title' => 'Chinese Ambassador Chen Discusses Bilateral Trade with Minister Rijal ', 'sub_title' => '', 'summary' => 'May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Chinese Ambassador to Nepal, Chen Song, paid a courtesy call on Minister for Industry, Commerce and Supplies, Ramesh Rijal, on Monday. During the meeting held at the ministry, they discussed bilateral relations, development assistance, and opening of border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal praised Chinese Ambassador Song, saying he had active role on strengthening bilateral relations between Nepal and China. He believed that the bilateral relations would be further strengthened in the days ahead. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The bilateral relation between the two countries is special, Minister Rijal said, reiterating that Nepal was committed to not let anyone misuse Nepali territory against China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">He informed that of the total foreign trade, trade with China comprises 14 percent. China is Nepal's second largest trade partner, according to Minister Rijal. However, Nepal has been incurring huge loss on trade with China. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Minister Rijal also reminded various mechanisms to facilitate Nepal-China trade. Even the meeting of joint consultation mechanism established for implementing transit and transport agreement was not held, he said, urging Ambassador Chen for immediate meeting between the concerned mechanisms in Kathmandu and Beijing. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The minister expressed happiness over the re-operation of Tatopani, Rasuwa and Hilsa border points. He requested the Chinese Ambassador to open further border points soon. He drew the attention of the Chinese Ambassador Chen on opening Nechung-Liji, Kimathanka, Olangchunggola and other border points. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Rijal thanked China for its assistance and collaboration in Nepal's development. He hoped China would extend further assistance and provide foreign direct investment. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the occasion, Ambassador Chen thanked Nepal for supporting One-China policy. He believed bilateral relations would be further strengthened between China and Nepal. The ambassador also said China was positive to extend development assistance and foreign direct investment. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17681', 'image' => '20230523120257_Flag-Pins-Nepal-China.jpg', 'article_date' => '2023-05-23 12:02:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '17949', 'article_category_id' => '1', 'title' => 'Police Submit Report on Fake Bhutanese Refugee Scam', 'sub_title' => '', 'summary' => 'May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: The District Police Range, Kathmandu on Monday submitted its investigation report against those involved in the fake Bhutanese refugee scam to the District Public Prosecutor's Office. The report was submitted on the 57th day since the police launched an investigation into the scam. The law stipulates that those investigated should be sued within 60 days of the beginning of the investigation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Spokesperson for Nepal Police and Deputy Inspector General (DIG) Kuber Kadayat told RSS that the report recommended that a case of fraud, organized crime and crime against the State be registered against those found guilty in the scam. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Office of the Public Prosecutor could however consider changes in the report, said DIG Kadayat, adding since there was prospects of investigating the case from the angle of money laundering and abuse of authority, the scammers could also attract the case on these charges. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have so far arrested 16 people including former ministers and sitting government secretary on the charge of their involvement in sending people to the United States identifying them as Bhutanese refugees. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Police have suggested the Office of the Public Prosecutor to register case against additional 16 to 17 accused in the scam. The Public Prosecutor's Office will also proceed the prosecution if need be, said Chief of the District Public Prosecutor's Office, Achyutmani Neupane. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Those arrested in this connection are former Deputy Prime Minister Top Bahadur Rayamajhi, former home minister Bal Krishna Khand, suspended secretary (former home secretary) Tek Narayan Pandey, former MP Dr Indrajeet Rai - security advisor to former home minister Ram Bahadur Thapa among others. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Similarly, others arrested ones in connection with the scam are refugee leader Teknath Rijal, Chairperson of Nepal Haj Committee, Samsher Minya, former lawmaker Angtawa Sherpa, personal secretary of the then home minister, Narendra KC, son of former Deputy Prime Minister Rayamajhi, Sandip Rayamajhi, Keshav Dulal, Sanu Bhandari, Sandesh Sharma, Sagar Rai, Tanka Gurung, Govind Chaudhary and Ram Sharan KC. </span><br /> <br /> <span style="font-family:"Arial Unicode MS","sans-serif"">However, Pratik Thapa, son of former home minister Ram Bahadur Thapa, and Niraj Rai, son of Indrajeet Rai, have been absconding. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, a total of 22 complaints have been filed in relation to the fake Bhutanese refugees scam on behalf of the victims. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">So far, 113 people have come in contact with the police saying that they were the victims in the case of the fake Bhutanese refugees scam. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">“A total of 22 complaints have been registered on behalf of the victims,” said District Police Range Kathmandu’s Superintendent of Police (SP) Sitaram Rijal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The victims have alleged that more than Rs 270 million has been defrauded from them. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17680', 'image' => '20230523112751_20230503063116_images.jpg', 'article_date' => '2023-05-23 11:26:51', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '17948', 'article_category_id' => '1', 'title' => 'Nepal's Public Debt Exceeds Rs 2150 Billion ', 'sub_title' => '', 'summary' => 'May 23: Nepal's public debt liability has exceeded Rs 2150 billion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: Nepal's public debt liability has exceeded Rs 2150 billion. According to the Public Debt Management Office, Nepal has been obliged to pay its public debt amounting over to Rs 2154.12 billion, including Rs 1083.47 billion towards internal debt and Rs 1070.64 billion towards external debt as of May 14, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Nepal's public debt liability was Rs 2013.29 billion until mid-July last year when the current fiscal year (FY 2022/23) had begun. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Public debt amounting to Rs 140.82 billion was added to the country's debt portfolio in the last 10 months of the current fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ratio of public debt to the GDP appeared to be 44.40 percent while considering Nepal's Gross Domestic Production (GDP) as Rs 4851.62 billion, the office said. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The rise of public debt ratio to the GDP and weak economic growth rate due to low capital formation could put the country's economy in crisis in the coming days. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Public Debt Management Office, the government has raised public debt of Rs 230.24 billion in the first 10 months of the current fiscal year. Likewise, the government has paid principle and interest amounting to Rs 143.42 billion in the review period. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">As of May 14 this year, the government spending in the repayment of principle and interest of public debt exceeded the capital spending by around Rs 18 billion. The government has spent Rs 125.67 billion towards capital budget up to May 14 this year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">On the one hand, the government's capacity to collect public revenue has declined resulting in a budget deficit while on the other hand a large sum of the annual budget is being spent for the repayment of principle amount of the rising public debt. -- RSS</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17679', 'image' => '20230523105433_public debt.jpg', 'article_date' => '2023-05-23 10:53:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '17947', 'article_category_id' => '1', 'title' => 'Earthquake Jolts Bajura ', 'sub_title' => '', 'summary' => 'May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 23: An earthquake measuring 4.1 on the Richter scale jolted Bajura district on Monday evening. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The earthquake with its epicentre at Bichhiya was recorded at 6:45 pm, according to the National Seismological Centre, Lainchour. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif""> Earlier on Sunday, another earthquake measuring on 4.1 on the Richter scale was also recorded with its epicentre at Hukam in the district. Western Nepal has been frequently hit by earthquakes in recent months. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-23', 'modified' => '2023-05-23', 'keywords' => '', 'description' => '', 'sortorder' => '17678', 'image' => '20230523104438_earth.jpg', 'article_date' => '2023-05-23 10:41:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '17945', 'article_category_id' => '1', 'title' => '500 People Climb Mount Everest', 'sub_title' => '', 'summary' => 'May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">May 22: Around 500 people have successfully climbed the highest mountain of the world, Mount Everest as of Monday. </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 Department of Tourism confirmed that five hundred mountaineers and guides have scaled Mt Everest during this year’s spring climbing season which started on May 13 after the icefall doctors fixed the ropes to the top of Everest.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">“Until today around 500 people, including Sherpas guides have climbed Mount Everest,” said a source at the department. A total of 478 mountaineers had obtained an expedition permit to climb Mount Everest in the spring season. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Director General of the Department Hom Prasad Luintel said that the weather has remained favorable, and the expedition of the different mountains including Everest has been encouraging so far. </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 478 permits issued is the highest number of permits issued for climbing Everest till date. They include 103 women and 376 men from 47 mountaineering teams, added the department.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:14.0pt">Ten people, including six foreigners and four Sherpas, have already died while climbing Everest this season.</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 AFP, an average of five people die while attempting to climb Everest every year.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17676', 'image' => '20230522062827_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2023-05-22 18:26:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '17944', 'article_category_id' => '1', 'title' => 'Government Policies, and Programmes Lack Plan to Address Economic Crisis: RPP Chair Lingden', 'sub_title' => '', 'summary' => 'Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Rajendra Lingden, Chair of the Rastriya Prajatantra Party (RPP) and member of the House of Representatives (HoR), stated that the government's new policies and programs lack a plan to address the current economic crisis in the country.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> During a meeting of the lower house today, Lingden expressed his disappointment that the policies and programs did not provide a roadmap for the future. He pointed out that these documents failed to identify and prioritize the problems effectively and presented some contradictory issues. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Lingden emphasized the need for employment-based industries, subsidies in electricity, and discouragement of unnecessary hurdles from trade unions to promote industrial growth.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Lingden also advocated for the promotion of religious tourism alongside the tourism industry, considering Nepal as the birthplace of orientalism. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Additionally, Ganesh Parajuli of the Rastriya Swatantra Party questioned whether the government's policies and programs genuinely addressed economic issues, stating that a remittance-based economy is not sustainable. Parajuli urged all political parties to unite against corruption. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17675', 'image' => '20230522053909_collage (15).jpg', 'article_date' => '2023-05-22 17:34:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 12 => array( 'Article' => array( 'id' => '17943', 'article_category_id' => '1', 'title' => 'India and Bangladesh Eager to Purchase Power from Nepal: NEA Managing Director Ghishing', 'sub_title' => '', 'summary' => 'Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">May 22: Kulman Ghising, Managing Director of the Nepal Electricity Authority (NEA), has said that both India and Bangladesh have expressed strong interest in buying electricity from Nepal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Speaking at a program where an agreement was signed with the Employees Provident Fund (EPF) for investment in the Tamakoshi Fifth Hydropower Project, Ghising highlighted the interest of India and Bangladesh in purchasing power from Nepal. He emphasized that power exports during the rainy season would fetch better rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The EPF has already invested in various hydropower projects, including Upper Tamakoshi, Sanjen, Rasuwagadhi, and Madhya Bhotekoshi. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In the Tamakoshi Fifth project, which will be based in Bigu Rural Municipality in Dolakha and has a capacity of 99.8 megawatts, the EPF plans to invest Rs 13.74 billion. The total project cost, including construction period interest, amounts to Rs 21.14 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The project will issue shares to the public under the People's Hydropower Program. The project's financial structure consists of 65% loan and 35% equity fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On Sunday, a tri-party agreement was signed among the NEA, Tamakoshi Hydropower Company (the project's promoter), and the EPF in the presence of the Minister for Energy, Water Resources, and Irrigation, Shakti Basnet. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NEA Managing Director Ghising, EPF Administrator Jitendra Dhital, and Company Chief Executive Officer Binod Bhandari signed the agreement on behalf of their respective organizations.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">At the event, Minister Basnet reiterated the government's priority for hydropower production and the strengthening of transmission systems. </span></span><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Minister Basnet highlighted Nepal's potential for green energy and stressed the importance of completing the project on time.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17674', 'image' => '20230522033833_collage (11).jpg', 'article_date' => '2023-05-22 15:37:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 13 => array( 'Article' => array( 'id' => '17942', 'article_category_id' => '1', 'title' => 'Signs of Improvement in Foreign Trade', 'sub_title' => '', 'summary' => 'May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">May 22: Nepal’s foreign trade, which was affected by the government’s policy of discouraging imports along with inflation and lack of liquidity in banks, has started to improve. Along with the increase in foreign exchange reserves, the ban on the import of some luxury goods was revoked, and the Nepal Rastra Bank abolished the requirement to keep a cash margin when opening an LC for imports. As a result, imports started to increase.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Customs, Nepal’s foreign trade until the month of Baishak (mid-April to mid-May) amounted to Rs 1466.2 billion. This year's foreign trade is 17.54 per cent less compared to Rs 1778 billion in the same period last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to last year, the overall foreign trade has decreased, but it has started to improve after mid-March. In Chaitra (mid-March to mid-April) of the current fiscal year, while the import was worth Rs 143.12 billion, the export was worth Rs 134.8 billion. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB has tightened imports since last year due to the high trade deficit and declining foreign exchange reserves.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The NRB had also reduced the quota of gold and silver imports while implementing the provision of keeping a cash margin when opening letters of credit (LC) for the import of goods.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the government banned the import of various luxury goods for 8 months from mid-April last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">As the current account has gone to surplus, the foreign currency reserves have also increased, and the import ban has been lifted by the government. NRB has also removed the provision of cash margin from the month of Magh (mid-January to mid-February).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Until Baishak (mid-April to mid-May), Nepal imported goods worth Rs 1335.32 billion. During the same period, goods worth Rs 130.9 billion were exported.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Compared to the previous year, imports have decreased by 16.78 per cent and exports by 24.49 per cent. By Baishak of last year, the import was equal to Rs 1646.5 billion and the export was equal to Rs 173 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The trade deficit till Baishak is Rs 1204.42 billion. This is 15.85 per cent less than last year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the report of NRB, the country's current account is in surplus by 180.1 billion as of Chait (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The total foreign exchange reserve which was Rs 1215 billion in Ashar 2079 increased by 17.9 per cent to 1433.7 billion in Chaitra. With the increase in foreign exchange reserves, the ability to meet the import of goods and services from abroad has also improved.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the NRB's report, the foreign exchange reserves of the banking sector are sufficient to support 11 months of goods imports and 9.4 months of goods and services imports. According to the improvement in the external situation of the economy, the NRB has also made the monetary policy flexible.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17673', 'image' => '20230522032753_Trade.jpg', 'article_date' => '2023-05-22 15:26:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '17941', 'article_category_id' => '1', 'title' => 'Department of Mines and Geology Issues Licenses for Exploration of 420 Mines ', 'sub_title' => '', 'summary' => 'May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">May 22: The Department of Mines and Geology (DMG) has issued licenses for the exploration of 420 mines. The department issued the permits for the exploration of possible mines so far in the current fiscal year, said Narayan Banskota, the department's Information Officer. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Banskota said licenses have been provided for exploration of iron ore, copper, gold, limestone, granite, ruby, dolomite, among other minerals. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department said permit has also been given for opening a mine for the extraction of iron ore at Dhaubadi of Nawalparasi. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has identified 50 mines so far and issued licenses to different companies for their operation. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department's Director General Dr Sudheer Rajaure shared that the department has carried out exploration of mines at more than 10 places this year alone. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to him, study is underway for iron ore at Luhakot of Sankhuwasabha, for copper at Dingla of Bhojpur, for granite at Khaniyakharka of Sindhuli, for dolomite at Sunaula Bazaar and for ruby at Ganesh Himal of Dhading, for copper in Rukum, for iron ore at Ratuwamai of Udayapur, for ceramics in Madhes Province and for limestone at Benighat of Dhading. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Although the department has been carrying out feasibility study of mines at several places of the country each year, it takes years since their reports are available due to the shortage of scientists at its lab. The department's lab has 11 allocated positions, but only two are working there at present. The report of the mine whose study was conducted in 2015 has not been prepared till date due to the same reason. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has collected revenue totaling Rs 356.63 million till March 14 of the current fiscal year through issuance of licenses and permits for mine exploration. It had collected Rs 934.50 million as of mid-March last year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2023-05-22', 'modified' => '2023-05-22', 'keywords' => '', 'description' => '', 'sortorder' => '17672', 'image' => '20230522024649_1684736669.khani.jpg', 'article_date' => '2023-05-22 14:45:55', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
