The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading…
The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading…
KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce…
KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance.…
KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday.…
SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in…
RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24.…
The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per…
Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur…
KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal…
KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades.…
KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular…
KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half…
KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed.…
KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of…
KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security…
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The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 16: The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 13,223,884 units of shares were traded on the NEPSE through 71,997 transactions. The total turnover for the day was Rs 5.47 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) was the top traded company with a turnover of Rs 30 crore. NFS also saw the highest gain of the day, rising 10%. Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) was the second-biggest gainer, its share price increasing by 9.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bhagawati Hydropower Development Company Limited (BGWT) was the biggest loser of the day, with its share price falling 10% to Rs 1017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices except for the Hotels and Tourism Index closed in the red. The Development Bank Index saw the biggest decline, falling 1.20%. The Hotels and Tourism Index, on the other hand, rose 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21012', 'image' => '20240616035512_collage (12).jpg', 'article_date' => '2024-06-16 15:54:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21285', 'article_category_id' => '1', 'title' => 'Majority of Provincial Governments Downsize Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIJAY DAMASE</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants. The state governments' ability to expand their budgets has been significantly affected after the federal government announced to reduce subsidies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY) 2080/81, the federal government allocated Rs 105.6 billion in grants to all seven provinces. However, for the upcoming fiscal year 2081/82, the allocation has been reduced to Rs 96.45 billion. This reduction has impacted the provincial governments' budget allocations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On Saturday, the state governments announced their budgets for the upcoming fiscal year 2081/82. Except for Bagmati and Sudurpaschim provinces, the budget size of the provincial governments for the next fiscal year has decreased compared to the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ram Bahadur Magar, Economic Affairs Minister of the Koshi Province government, stated that the federal government's grants has decreased and the state has not met its revenue collection target, leading to a reduced budget size. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"A significant grant from the center has decreased. We could not propose a large budget this time because our internal revenue is weak," he said in a conversation with New Business Age. The federal government provided Rs 16.11 billion rupees in grants to this province for the current year, but only Rs 14.54 billion have been allocated for the next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh Province has also reduced its budget size for the next year due to the grant cuts. The federal government has allocated Rs 11.35 billion for Madhesh Province this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki province faces a similar situation, with its budget affected by the decline in federal grants. Gandaki received Rs 13.6 billion in federal grants this year but will receive only Rs 12.58 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini's subsidy allocation has decreased from Rs 15.38 billion this year to Rs 14.1 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali Province will also have a smaller budget next year due to federal grant cuts. It received Rs 16.27 billion this year but will receive only Rs 16.3 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite the decrease in federal grants, Sudurpaschim and Bagmati provinces have increased their budget sizes. Sudurpaschim will receive a central grant of Rs 13.83 billion next year, down from Rs 14.42 billion this year. Bagmati, which received Rs 15.81 billion in federal grants this year, will get only Rs 14.7 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federal government distributes equalization, conditional, special, and supplementary grants to provinces and local levels. These sub-national governments also receive resources from revenue sharing. The resources from revenue distribution to state and local levels have also been reduced. The federal budget states that these two levels of government will receive Rs 159 billion from revenue distribution next year, down from Rs 173 billion allocated this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Binay Kumar Mishra, Assistant Professor of the Department of Public Policy at Kathmandu University, commented that the significant reduction in grants to provincial governments will impact the size of next year's budgets. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The government made a mistake by cutting conditional and equalization grants. This will impact the socio-economic sectors of the provinces," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">Provincial Budgets</span></span></strong></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi has announced a budget of Rs 35.27 billion for the upcoming year, down from Rs 36.24 billion this year. Economic Affairs Minister Ram Bahadur Magar attributed the reduction to decreased federal grants and lower-than-expected internal revenue. The province has prioritied infrastructure development, agriculture, and tourism, with Rs 10.41 billion allocated for road infrastructure and Rs 2.67 billion for industry, commerce, and cooperatives. The budget for free treatment services for children under 10, introduced by the previous government, has been cut. The province will celebrate 2082 as Tourism Year and has allocated funds for local income programs and various festivals.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Bharat Prasad Sah announced a budget of Rs 43.89 billion for the next year, slightly down from Rs 44.11 billion this year. The budget allocates Rs 16.07 billion for current expenses and Rs 27.89 billion for capital expenses. The province has also allocated significant funds to the Ministry of Physical Infrastructure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Jagannath Thapalia presented a budget of Rs 67.54 billion for the upcoming year, up from Rs 62.77 billion this year. The budget focuses on roads, agriculture, and tourism, with significant allocations for road construction and agricultural modernization.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Dr Takaraj Gurung's budget includes provisions for branding domestic liquor and legalizing marijuana cultivation. The budget has also allocated funds to local governments and for tourism development, including bicycle lanes and homestay programs. The total budget for next year is Rs 32.97 billion, slightly down from Rs 33.42 billion this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Chet Narayan Acharya announced a budget of Rs 38.97 billion for the upcoming year, down from Rs 40.47 billion this year. The budget prioritizes infrastructure, technology and education and has allocated significant funds for Lumbini Technical University.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Mahendra KC presented a budget of Rs 31.41 billion for the next year, down from Rs 33.37 billion this year. The budget focuses on economic prosperity, social justice, poverty alleviation, job creation, and entrepreneurship.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudurpaschim</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Surendra Bahadur Pal announced a budget of Rs 31.62 billion, up from Rs 29.26 billion this year. The budget includes provisions for increasing state income through revised tax rates and formalizing private businesses.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21011', 'image' => '20240616023437_budget.jpg', 'article_date' => '2024-06-16 14:33:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21284', 'article_category_id' => '1', 'title' => 'Advance Income Tax on Food Grains Results in Piling up of 400 Containers at Customs', 'sub_title' => '', 'summary' => 'KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. This situation has arisen following the government's introduction of an advance income tax (AIT) on food imports through the Finance Bill for the fiscal year (FY) 2081/82. The bill imposes advance income tax ranging from 1.5% to 10% on commercial food imports. Effective from May 28, the tax is set at 2% for rice and 10% for pulses, up from a previous maximum of 5%.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, president of the Nepal Rice, Oil, and Lentil Association, reported that approximately 400 containers belonging to 35 food industries have been stopped at the customs. "The new tax has increased the cost of importing food grains, leading businessmen to hold pulses and other grains at customs without completing the clearance process," Gupta said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association protested against the government's decision, arguing that the heavy advance income tax on daily consumables is unreasonable. Containers from 35 industries, including Shivshakti Agro, Nepal Agro, Triveni Dal Mill, Mahaveer Agro Processing, and Namaste Agro, have been halted at various customs points. Sushil Sharma, the information officer at Birgunj Dry Port Customs, noted that around 130 containers are stuck at Birgunj alone.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Half a dozen importers, including Triveni Dal Udyog, Shivshakti Agro, and Nepal Agro, have not passed the customs clearance," he stated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anand Gupta, information officer of the Inland Revenue Department, told New Business Age that the increased advance income tax will no longer be refundable as before. Stakeholders worry that this non-refundable provision may further increase the price of imported food.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Under the new legal system, if we import pulses worth Rs 10 million, we have to pay Rs 1 million as advance income tax," said Gupta. "This will significantly impact both businessmen and ordinary consumers." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government argues that the increased advance income tax rate aims to protect domestic production. Finance Minister Barshman Pun has stated in various forums, including Parliament, that the hike in advance income tax is justified because the goods subject to the tax are produced in sufficient quantities within the country. He believes this policy will encourage local production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, businessmen argue that relying solely on domestic products is not feasible for running the food industry at full capacity. The new Finance Bill imposes a 10% advance income tax on daily consumables such as potatoes, onions, lentils, and pulses. Similarly, a 2.5% advance income tax is imposed on the import of rice, flour, and other similar items. Businessmen claim that the high advance income tax on vegetables, potatoes, onions, and fish will lead to skyrocketing prices, adversely affecting common consumers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bivor Agarwal, a member of the association, remarked that the government policy has made food grains more expensive. "Now, rice has become more expensive by Rs 100 per bag, and pulses and grains have increased by Rs 10 to 15 per kg," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal imports paddy and rice from India, while pulses and grains come from countries such as Canada, the USA, and Australia.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21010', 'image' => '20240616020712_1642924016.Bhansar-aryat-niryat.jpg', 'article_date' => '2024-06-16 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21283', 'article_category_id' => '1', 'title' => 'International Tourism Expo Concludes in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. The two-day fair organized by Summit Events Markets with the support of Nepal Tourism Board and Kathmandu Metropolitan City (KMC), had started on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sunita Dangol, Deputy Mayor of KMC, said during the closing ceremony of the fair that the continuation of such programmes is necessary for the promotion of tourism in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further promised that the KMC will always support and help in the promotion of heritage and tourist areas in Kathmandu. Dangol asked the participants of the fair to go to their respective countries and inform them about the tourism destinations of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice chair of Nepal Tourism Board Ram Prasad Sapkota mentioned that the fair helped to promote Nepal's tourism in the international market. He said that the efforts of the private sector have been commendable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism expo also had the participation of Malaysia Tourism Board and Bihar Tourism Board of India. There were stalls of 150 tourism enterprises from 16 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The managing director of Summit Events Markets, Bishnu Pandey informed that more than five thousand people attended the two-day expo. A group discussion related to tourism promotion was held at the fair. With the successful completion of the first expo organized by the private sector, the organizers have also announced that the second edition will be held on May 30 and 31 next year. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21009', 'image' => '20240616125300_tourism-expo-nepal.jpg', 'article_date' => '2024-06-16 12:52:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21282', 'article_category_id' => '1', 'title' => 'Air Pollution Linked to 135 Million Premature Deaths: Study', 'sub_title' => '', 'summary' => 'SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather phenomena like El Nino and the Indian Ocean Dipole worsened the effects of these pollutants by intensifying their concentration in the air, Singapore's Nanyang Technological University (NTU) said, unveiling the results of a study led by its researchers last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The tiny particles called particulate matter 2.5, or "PM 2.5", are harmful to human health when inhaled because they are small enough to enter the bloodstream, AFP reported. They come from vehicle and industrial emissions as well as natural sources like fires and dust storms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fine particulate matter "was associated with approximately 135 million premature deaths globally" from 1980 to 2020, the university said in a statement on the study, published in the journal Environment International.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that people were dying younger than the average life expectancy from diseases or conditions that could have been treated or prevented, including stroke, heart and lung disease, and cancer.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather patterns increased the deaths by 14 percent, the study found.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the study, Asia had the "highest number of premature deaths attributable to PM 2.5 pollution" at more than 98 million people, mostly in China and India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pakistan, Bangladesh, Indonesia and Japan also had significant numbers of premature deaths, ranging from 2 to 5 million people, it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that the study is one of the most expansive till date on air quality and climate, using 40 years of data to give a big-picture view of the effects of particulate matter on health.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Our findings show that changes in climate patterns can make air pollution worse," AFP quoted Steve Yim, an associate professor at NTU's Asian School of the Environment who led the study, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"When certain climate events happen, like El Nino, pollution levels can go up, which means more people might die prematurely because of PM 2.5 pollution," Yim added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"This highlights the need to understand and account for these climate patterns when tackling air pollution to protect the health of the global population."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, the Singapore researchers studied satellite data from the US National Aeronautics and Space Administration (NASA) on the levels of particulate matter in the Earth's atmosphere.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">They analysed statistics on deaths from diseases linked to pollution from the US-based Institute for Health Metrics and Evaluation, an independent research centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Information on weather patterns during the period was taken from the National Oceanic and Atmospheric Administration in the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The study focused only on the effects of ordinary weather patterns on air pollution, Yim said, adding that the impact of climate change will be the subject of future studies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Researchers from universities in Hong Kong, Britain and China were also involved in the study.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The World Health Organization has said the "combined effects of ambient air pollution and household air pollution" are associated with 6.7 million premature deaths worldwide every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21008', 'image' => '20240616113718_20240429021245_Untitled.jpg', 'article_date' => '2024-06-16 11:36:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21281', 'article_category_id' => '1', 'title' => 'Sikta Irrigation Project Achieves 92 Percent Physical Progress in Current FY ', 'sub_title' => '', 'summary' => 'RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. The national pride project aims to provide irrigation facility to 42,766 hectares of land of six rural municipalities in Kohalpur municipality and Nepalgunj sub-metropolitan city in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sandesh Poudel, engineer of the project, shared that out of Rs 830 million allocated for the Sikta Irrigation Project for the current fiscal year, over Rs 760 million has been spent as of December, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget ceiling has been increased for the Sikta Irrigation Project in the upcoming fiscal year 2024/25. Over Rs 1.6 billion has been allocated for the project for the upcoming fiscal year, Poudel shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Works relating to Daduwa section canal is underway at present, he said. The project initiated in FY 2005/06 is expected to be completed by FY 2032/33 as per the revised master plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project in accordance with the revised master plan is over Rs 52 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge faced by the project for timely completion is budget deficit, besides problems in distribution of compensation for those whose land were acquired for the project. -- RSS </span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21007', 'image' => '20240616110753_sikta.jpg', 'article_date' => '2024-06-16 11:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21280', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 15: The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A meeting of the NOC Board of Directors decided to implement these price reductions, which took effect from last night. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the price cut, petrol will now cost Rs 162.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, the price of petrol is set at Rs 164 per litre. In Kathmandu, Pokhara, and Dipayal, petrol will be sold at Rs 165 per litre. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, diesel and kerosene will cost Rs 149.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, these fuels will be priced at Rs 151 per litre. In Kathmandu, Pokhara, and Dipayal, diesel and kerosene will be available at Rs 152 per litre, according to the NOC.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21006', 'image' => '20240616081654_collage (34).jpg', 'article_date' => '2024-06-16 08:15:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '21279', 'article_category_id' => '1', 'title' => 'PM Dahal Inaugurates 400-kV Hetauda Substation', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> June 14: Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Located at Thana Bharyang in Hetuda Sub-Metropolitan City-11, the Hetauda Substation is Nepal's third largest automatic substation utilizing Gas Insulated System (GIS) technology. It began operations last Friday, enhancing the country's power transmission capabilities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to the 400-kV substation, two other substations of 220 kV and 132/11 kV capacities have also been constructed at Thana Bharyang by the Nepal-India Electricity Transmission and Trade Project. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These substations also started operations last Friday, further bolstering the region's power infrastructure.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The GIS-based Dhalkebar substation is currently the largest in Nepal, followed by the Inaruwa substation, with Hetauda being the third. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These developments aim to ensure a reliable and high-quality power supply across the east-west corridor of Nepal and facilitate electricity trade with India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the Hetauda substation operational, infrastructure capable of transmitting around 4,000 megawatts of electricity is now in place. This is expected to significantly strengthen domestic electricity supply and expand electricity trade with India. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hetauda-Dhalkebar-Inaruwa 400-kV transmission line, once fully completed, will enable the transmission of this power across the east-west axis from Dhalkebar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, a 400-kV double-circuit transmission line, to be constructed from Ratmate in Nuwakot with assistance from the US Millennium Challenge Corporation (MCC), will be connected to the Hetauda substation. The necessary infrastructure at Hetauda for this connection has already been established.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The expansion of the Hetauda, Dhalkebar, and Inaruwa 400-kV substations was initiated through a joint investment by the Government of Nepal and NEA, under the National Electricity Development Decade program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The contract for constructing the 220/132/11-kV Hetauda substation was signed in December 2018, funded by the Nepal-India Electricity Transmission and Trade Project, government and NEA investments, and a World Bank soft loan. The total estimated cost of the Hetauda substation project is Rs 3 billion. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21005', 'image' => '20240614041443_collage (11).jpg', 'article_date' => '2024-06-14 16:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21278', 'article_category_id' => '1', 'title' => 'Where will the Govt Spend Rs 76 Billion Allocated under the Heading of Miscellaneous Finance?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year. Approximately Rs 76 billion have been earmarked under the 'Miscellaneous Finance' heading for the next fiscal year, intended for earthquake reconstruction and hosting foreign dignitaries. In the current year, an estimated Rs 57.369 billion will be spent under miscellaneous headings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This budget allocation method allows the government discretionary spending without allocation for specific project, which can be seen as lacking financial discipline. The Integrated Economic Indicators and Classification 2074 issued by the Financial Comptroller General Office discourages budgeting through various sources without clear plans. If existing plans are underfunded, additional funds can be drawn from the miscellaneous heading. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ministry has also allocated Rs 75.083 billion as miscellaneous for the fiscal year 2081/82. This includes Rs 10 million for special visits, Rs 15 million for hosting delegations, Rs 5.083 billion for land compensation for government projects, Rs 10 million for financial aid, Rs 300 million for customs refunds, Rs 300 million for building purchases, construction, and improvements, Rs 5.3 million for infrastructure, and Rs 62 million rupees for various fees and payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Rs 25.98 billion have been allocated for miscellaneous expenses, Rs 19.8 billion rupees for disaster relief and rehabilitation, and Rs 8.3 billion for development programs under different headings. Additionally, Rs 3 billion are set aside for federal structure and infrastructure development programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry has allocated Rs 4.015 billion under miscellaneous headings to address complaints about the lack of budget for incomplete projects. It has also reserved Rs 2 billion from various sources for the Gandaki Economic Triangle Project, with clear criteria being established for its expenditure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on this, Joint Secretary of the Ministry of Finance, Uttar Kumar Khatri, stated that the budget includes significant allocations from various sources, ranging from earthquake reconstruction to visits by foreign dignitaries. He emphasized that specific visits will be funded from different sources, including various types of financial assistance announced by the Council of Ministers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala expressed concern over the increase in budget under this heading to Rs 76 billion, noting that this could lead to misuse due to the lack of clear guidelines for spending such funds. He stressed the importance of clearly defining the areas where these funds can be spent and ensuring proper management.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It seems that the Ministry of Finance has spent approximately Rs 310 million under the miscellaneous heading so far this year, and there are concerns that the increase to Rs 76 billion in various headings in the next year's budget could lead to misuse.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21004', 'image' => '20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-06-14 14:19:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21275', 'article_category_id' => '1', 'title' => 'Fourth Living Standards Survey Indicates Rise in Youth Unemployment', 'sub_title' => '76.8 Percent Households Receive Remittances', 'summary' => 'KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. According to the National Statistics Office, the unemployment rate reached 12.6 percent in the fiscal year 2079/80.Tthe unemployment rate was only 4.9 percent in the First Living Standards Survey conducted in the fiscal year 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Nepal Labor Force Survey for the fiscal year 2074/75 reported a slightly lower unemployment rate of 11.4 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Fourth Living Standards Survey highlights widespread youth unemployment, with the rate among 15 to 24-year-olds reaching 22.7 percent, up from 7.3 percent in 2052/53. The report underscores the difficulty young people face in finding employment opportunities within the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hemraj Regmi, Deputy Chief Statistics Officer at the National Statistics Office, attributed the high youth unemployment rate to the lack of job opportunities, which drives many youths to seek work abroad. "The youth are going abroad due to the lack of job opportunities in the country," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also notes that a significant portion of Nepal's labor force works as daily wage earners, indicating a lack of stable employment opportunities. Specifically, 64.9 percent of salaried workers are paid on a daily basis, while 28.7 percent receive monthly salaries, and 6.4 percent are employed on contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Due to the scarcity of domestic job opportunities, a large number of Nepalis have migrated abroad, and the remittances they send back have played a crucial role in bolstering the economy. As a result, the Living Standards Survey reports that 76.8 percent of households received remittances in the fiscal year 2079/80, up from 23.4 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The survey also indicates changes in the sources of remittances received by households. In 2079/80, 49.4 percent of households received remittances from countries other than India, while 21.3 percent received remittances from India. The proportion of households receiving domestic remittances was 29.3 percent, down from 44.7 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, the report highlights an increase in non-communicable diseases, with conditions such as blood pressure, stomach-related issues, diabetes, and respiratory diseases showing higher prevalence rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report further details that education sector expenditure averages Rs 29,742 per person per year, with significant variance between individuals below and above the poverty line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the survey, 20.27 percent of Nepal's total population still lives below the poverty line, down from 25.16 percent reported in the third survey. The poverty rates vary significantly by province, with the Far West having the highest poverty rate at 34.16 percent, and Bagmati the lowest at 12.59 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Overall, the survey provides comprehensive insights into various aspects of Nepal's living standards, including access to education, health, and economic opportunities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => 'survey, Nepal, living, standard, national, statistics, remittance, employment, data', 'description' => '', 'sortorder' => '21003', 'image' => '20240614015128_20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2024-06-14 13:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21276', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Innovative Solutions to Turn Waste into Useful Resources', 'sub_title' => 'Nepal’s First Waste Management and Climate Conference Sets the Stage for a Sustainable Future', 'summary' => 'KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event, the first-ever hosted by Nepal, was organized by the Confederation of Nepalese Industries (CNI), the Coca-Cola Foundation, the National Human Rights Commission (NHRC), Khaalisisi, Women for Human Rights (WHR), and CNIYEF, uniting key stakeholders to address Nepal’s waste management and climate challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC brought together government officials, industry leaders, environmental experts, and community advocates to tackle critical issues related to waste management, climate change, and environmental sustainability.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The WMCC is a milestone event for Nepal," said Carlos Pagoaga, president of the Coca-Cola Foundation. "It reflects our shared commitment to creating sustainable solutions for the environmental challenges we face."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, the organisers said that the key component of the conference was the Mayor's Forum, which facilitated dialogue between local government officials and industry leaders on effective municipal waste management strategies. Mayors from Lalitpur, Dhangadi, Dhankuta, Budhanilkantha, and the deputy-mayor from Chandragiri participated in the discussion, the statement added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The conference explored innovative solutions to turn waste into useful resources, promoting a circular economy, said the organisers. It discussed issues like carbon emissions, plastic pollution, air pollution in Kathmandu, and the effects of climate change on the Himalayas, including Mount Everest. Presentations highlighted innovative waste management ideas from GIZ and Nepal's commitments to the Paris Agreement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This conference is a significant step towards empowering communities, especially women, to take part in climate action,” said Kabita Pandey, president of Women for Human Rights (WHR). “Together, we can drive meaningful change.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">House of Representatives members Sobita Gautam, Toshima Karki, and Uday Rana emphasized the crucial need for collaborative efforts in tackling environmental challenges. Their insights highlighted the power of united action in fostering sustainable solutions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nearly 1,000 delegates from 600 organizations across 33 districts and 5 countries attended the event, highlighting the widespread interest and commitment to advancing waste management and climate action in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC served as a national platform, uniting government officials, parliamentarians, diplomats, and industry experts. It fostered collaboration and policy dialogue to advance Nepal's waste management and climate agenda, driving tangible outcomes for a cleaner, more sustainable future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event concluded with concrete commitments from various stakeholders, setting a clear roadmap for future actions. The collaboration and innovative ideas presented have laid the groundwork for significant improvements in waste management and environmental policies, ensuring a lasting impact on Nepal’s sustainability efforts, added the statement.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21002', 'image' => '20240614020951__RD47677 (1).jpg', 'article_date' => '2024-06-14 14:07:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21274', 'article_category_id' => '1', 'title' => 'Exports of Handicraft Products Exceed Rs 3.26 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Handicraft Associations of Nepal (FHAN), felt items make up the highest portion of exports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Federation’s Director General, Uttam Prasad Devkota, told the RSS that Nepal exported handicraft items made of felt worth over Rs 1.28 billion as of May 28 of the current fiscal year that had started on July 17, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Products made of Allo (Himalayan nettle), bamboo, pote (glass beads), animal bones and horns, ceramic, Dhaka, metal, garments, papers, silk, silver, wood, wool, stone, plants, pashmina, and so on are supplied from Nepal to various countries including India, China, the US, Germany, Denmark, the Netherlands, Britain, Australia and Singapore. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FHAN said there is a growing demand for advanced handicrafts than traditional ones in international markets. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21000', 'image' => '20240614010800_20201001053942_1601506595.Clipboard12.jpg', 'article_date' => '2024-06-14 13:07:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21273', 'article_category_id' => '1', 'title' => 'The Nepal-Bangladesh Joint Mechanism Meeting Postponed', 'sub_title' => '', 'summary' => 'KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. Originally scheduled to be held in Pokhara on June 23 and 24, the meeting was postponed after the Bangladesh government requested for rescheduling it.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are two joint mechanisms between the two countries: a Joint Secretary-level Joint Working Group (JWG) and a Secretary-level Joint Steering Committee (JSC) under the Ministry of Energy. This year's meeting, which was to be held in Nepal, follows last year's meeting in Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Navin Singh, spokesperson for the Ministry of Energy, Water Resources, and Irrigation, said, "The date had to be postponed after the Bangladesh energy secretary-level team indicated a potential delay. We are awaiting formal confirmation from Bangladesh, but we expect the meeting to take place by early July."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials in Nepal have indicated that the meeting aims to finalize an agreement for the sale of 40 megawatts of electricity from Nepal to Bangladesh. Additionally, discussions are expected on a joint venture agreement for the construction of the Sunkoshi III hydropower project, which has a capacity of 683 megawatts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier this week, Bangladesh's procurement committee, chaired by Finance Minister Abul Hasan Mahmud Ali, decided to purchase 40 megawatts of electricity from Nepal for a period of 5 years. The purchase price is set at 8.17 Bangladeshi taka (equivalent to Rs 9.30) per unit, as reported by Bangladeshi media. However, the transmission line fee through India has yet to be determined.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following the Nepal-Bangladesh meeting, a tripartite agreement between Nepal, Bangladesh, and India will be necessary to export electricity from Nepal to Bangladesh through India's transmission lines. India has already given approval for this tripartite agreement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Sunkoshi III project, which will be located on the Sunkoshi River in the border area of Ramechhap and Kavrepalanchok districts, has been a topic of discussion for joint investment by both countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During last year’s meeting in Pataukhali, Bangladesh, the two countries had agreed to sign a Memorandum of Understanding (MoU) between the Nepal Electricity Authority and the Bangladesh Power Development Board for the Sunkoshi III project within 6 months. Although the MoU was not signed within the agreed timeframe, government officials from both countries are working to finalize it. Both Nepal and Bangladesh are interested in involving Indian companies in the joint venture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was postponed amid ongoing efforts by Nepal and Bangladesh to strengthen bilateral energy cooperation and infrastructure development.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20999', 'image' => '20240614122519_20240613112209_20240223021605_banglad.jpg', 'article_date' => '2024-06-14 12:24:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21272', 'article_category_id' => '1', 'title' => 'CIB Arrests One more in Connection with Hyperfund Scam ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to CIB Spokesperson and Information Officer, Superintendent of Police, Hobindra Bogati, the second person arrested over the scam is Srikant Bhandari. He was apprehended from Rukum on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the CIB apprehended Nanu Ghimire aka Kajal from Lalitpur over her alleged involvement in duping Nepalis in the scam. Till date, the CIB has received complaints from 56 people of fraud over Rs 79.5 million in the scam. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the CIB says, it has been preparing to issue a red corner notice through Interpol against those against whom complaints have been filed by the alleged victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CIB has appealed to those duped in the scam to register a complaint at the CIB. It has also provided an online space for the registration of the complaint. One can visit the official website of CIB https://cib.nepalpolice.gov.np and lodge a complaint at cib_spokesperson@nepalpolice.gov.np or cib@nepalpolice.gov.np featured on the site. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hyperfunding is the fundraising of large sums of money in a brief campaign by a company that directly targets consumers or investors via the Internet. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20998', 'image' => '20240614114204_20190923103804_cib-nepal 2.jpg', 'article_date' => '2024-06-14 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21271', 'article_category_id' => '1', 'title' => 'National ID Card Mandatory for Social Security Allowance ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance. It will be effective in 28 districts from July 16 as per the recent Cabinet decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With this decision, the district administration offices have been ovwecrowded by those in need of the ID card. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at National ID Card and Registration Department, Yubraj Kattel, shared that the scheme would be enforced from July 16 even for the renewal of social security scheme in 28 districts. The concerned district administration offices were mobilizing additional resources at local levels for the distribution of national ID cards, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The districts implementing this provision are Jhapa, Rautahat, Rupandehi, Morang, Sarlahi, Kapilvastu, Sunsari, Kathmandu, Dang, Udayapur, Bhaktapur, Banke, Saptari, Lalitpur, Bardiya, Siraha, Sindhuli, Surkhet, Dhanusha, Makwanpur, Kailali, Mahottari, Chitwan, Kanchanpur, Bara, Kaski, Parsa, and Tanahu. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The department launched the distribution of national ID card since the past four years in 73 districts. On Wednesday, the department however issued a notice, informing that the people above 90 years and those living with disabilities need not produce national ID cards while receiving social security allowance. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20997', 'image' => '20240614112515_social.jpg', 'article_date' => '2024-06-14 11:08:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21287', 'article_category_id' => '1', 'title' => 'NEPSE Plunges 17.04 Points to Close at 2095.25', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 16: The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 13,223,884 units of shares were traded on the NEPSE through 71,997 transactions. The total turnover for the day was Rs 5.47 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) was the top traded company with a turnover of Rs 30 crore. NFS also saw the highest gain of the day, rising 10%. Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) was the second-biggest gainer, its share price increasing by 9.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bhagawati Hydropower Development Company Limited (BGWT) was the biggest loser of the day, with its share price falling 10% to Rs 1017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices except for the Hotels and Tourism Index closed in the red. The Development Bank Index saw the biggest decline, falling 1.20%. The Hotels and Tourism Index, on the other hand, rose 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21012', 'image' => '20240616035512_collage (12).jpg', 'article_date' => '2024-06-16 15:54:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21285', 'article_category_id' => '1', 'title' => 'Majority of Provincial Governments Downsize Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIJAY DAMASE</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants. The state governments' ability to expand their budgets has been significantly affected after the federal government announced to reduce subsidies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY) 2080/81, the federal government allocated Rs 105.6 billion in grants to all seven provinces. However, for the upcoming fiscal year 2081/82, the allocation has been reduced to Rs 96.45 billion. This reduction has impacted the provincial governments' budget allocations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On Saturday, the state governments announced their budgets for the upcoming fiscal year 2081/82. Except for Bagmati and Sudurpaschim provinces, the budget size of the provincial governments for the next fiscal year has decreased compared to the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ram Bahadur Magar, Economic Affairs Minister of the Koshi Province government, stated that the federal government's grants has decreased and the state has not met its revenue collection target, leading to a reduced budget size. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"A significant grant from the center has decreased. We could not propose a large budget this time because our internal revenue is weak," he said in a conversation with New Business Age. The federal government provided Rs 16.11 billion rupees in grants to this province for the current year, but only Rs 14.54 billion have been allocated for the next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh Province has also reduced its budget size for the next year due to the grant cuts. The federal government has allocated Rs 11.35 billion for Madhesh Province this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki province faces a similar situation, with its budget affected by the decline in federal grants. Gandaki received Rs 13.6 billion in federal grants this year but will receive only Rs 12.58 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini's subsidy allocation has decreased from Rs 15.38 billion this year to Rs 14.1 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali Province will also have a smaller budget next year due to federal grant cuts. It received Rs 16.27 billion this year but will receive only Rs 16.3 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite the decrease in federal grants, Sudurpaschim and Bagmati provinces have increased their budget sizes. Sudurpaschim will receive a central grant of Rs 13.83 billion next year, down from Rs 14.42 billion this year. Bagmati, which received Rs 15.81 billion in federal grants this year, will get only Rs 14.7 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federal government distributes equalization, conditional, special, and supplementary grants to provinces and local levels. These sub-national governments also receive resources from revenue sharing. The resources from revenue distribution to state and local levels have also been reduced. The federal budget states that these two levels of government will receive Rs 159 billion from revenue distribution next year, down from Rs 173 billion allocated this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Binay Kumar Mishra, Assistant Professor of the Department of Public Policy at Kathmandu University, commented that the significant reduction in grants to provincial governments will impact the size of next year's budgets. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The government made a mistake by cutting conditional and equalization grants. This will impact the socio-economic sectors of the provinces," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">Provincial Budgets</span></span></strong></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi has announced a budget of Rs 35.27 billion for the upcoming year, down from Rs 36.24 billion this year. Economic Affairs Minister Ram Bahadur Magar attributed the reduction to decreased federal grants and lower-than-expected internal revenue. The province has prioritied infrastructure development, agriculture, and tourism, with Rs 10.41 billion allocated for road infrastructure and Rs 2.67 billion for industry, commerce, and cooperatives. The budget for free treatment services for children under 10, introduced by the previous government, has been cut. The province will celebrate 2082 as Tourism Year and has allocated funds for local income programs and various festivals.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Bharat Prasad Sah announced a budget of Rs 43.89 billion for the next year, slightly down from Rs 44.11 billion this year. The budget allocates Rs 16.07 billion for current expenses and Rs 27.89 billion for capital expenses. The province has also allocated significant funds to the Ministry of Physical Infrastructure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Jagannath Thapalia presented a budget of Rs 67.54 billion for the upcoming year, up from Rs 62.77 billion this year. The budget focuses on roads, agriculture, and tourism, with significant allocations for road construction and agricultural modernization.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Dr Takaraj Gurung's budget includes provisions for branding domestic liquor and legalizing marijuana cultivation. The budget has also allocated funds to local governments and for tourism development, including bicycle lanes and homestay programs. The total budget for next year is Rs 32.97 billion, slightly down from Rs 33.42 billion this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Chet Narayan Acharya announced a budget of Rs 38.97 billion for the upcoming year, down from Rs 40.47 billion this year. The budget prioritizes infrastructure, technology and education and has allocated significant funds for Lumbini Technical University.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Mahendra KC presented a budget of Rs 31.41 billion for the next year, down from Rs 33.37 billion this year. The budget focuses on economic prosperity, social justice, poverty alleviation, job creation, and entrepreneurship.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudurpaschim</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Surendra Bahadur Pal announced a budget of Rs 31.62 billion, up from Rs 29.26 billion this year. The budget includes provisions for increasing state income through revised tax rates and formalizing private businesses.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21011', 'image' => '20240616023437_budget.jpg', 'article_date' => '2024-06-16 14:33:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21284', 'article_category_id' => '1', 'title' => 'Advance Income Tax on Food Grains Results in Piling up of 400 Containers at Customs', 'sub_title' => '', 'summary' => 'KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. This situation has arisen following the government's introduction of an advance income tax (AIT) on food imports through the Finance Bill for the fiscal year (FY) 2081/82. The bill imposes advance income tax ranging from 1.5% to 10% on commercial food imports. Effective from May 28, the tax is set at 2% for rice and 10% for pulses, up from a previous maximum of 5%.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, president of the Nepal Rice, Oil, and Lentil Association, reported that approximately 400 containers belonging to 35 food industries have been stopped at the customs. "The new tax has increased the cost of importing food grains, leading businessmen to hold pulses and other grains at customs without completing the clearance process," Gupta said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association protested against the government's decision, arguing that the heavy advance income tax on daily consumables is unreasonable. Containers from 35 industries, including Shivshakti Agro, Nepal Agro, Triveni Dal Mill, Mahaveer Agro Processing, and Namaste Agro, have been halted at various customs points. Sushil Sharma, the information officer at Birgunj Dry Port Customs, noted that around 130 containers are stuck at Birgunj alone.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Half a dozen importers, including Triveni Dal Udyog, Shivshakti Agro, and Nepal Agro, have not passed the customs clearance," he stated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anand Gupta, information officer of the Inland Revenue Department, told New Business Age that the increased advance income tax will no longer be refundable as before. Stakeholders worry that this non-refundable provision may further increase the price of imported food.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Under the new legal system, if we import pulses worth Rs 10 million, we have to pay Rs 1 million as advance income tax," said Gupta. "This will significantly impact both businessmen and ordinary consumers." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government argues that the increased advance income tax rate aims to protect domestic production. Finance Minister Barshman Pun has stated in various forums, including Parliament, that the hike in advance income tax is justified because the goods subject to the tax are produced in sufficient quantities within the country. He believes this policy will encourage local production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, businessmen argue that relying solely on domestic products is not feasible for running the food industry at full capacity. The new Finance Bill imposes a 10% advance income tax on daily consumables such as potatoes, onions, lentils, and pulses. Similarly, a 2.5% advance income tax is imposed on the import of rice, flour, and other similar items. Businessmen claim that the high advance income tax on vegetables, potatoes, onions, and fish will lead to skyrocketing prices, adversely affecting common consumers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bivor Agarwal, a member of the association, remarked that the government policy has made food grains more expensive. "Now, rice has become more expensive by Rs 100 per bag, and pulses and grains have increased by Rs 10 to 15 per kg," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal imports paddy and rice from India, while pulses and grains come from countries such as Canada, the USA, and Australia.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21010', 'image' => '20240616020712_1642924016.Bhansar-aryat-niryat.jpg', 'article_date' => '2024-06-16 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21283', 'article_category_id' => '1', 'title' => 'International Tourism Expo Concludes in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. The two-day fair organized by Summit Events Markets with the support of Nepal Tourism Board and Kathmandu Metropolitan City (KMC), had started on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sunita Dangol, Deputy Mayor of KMC, said during the closing ceremony of the fair that the continuation of such programmes is necessary for the promotion of tourism in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further promised that the KMC will always support and help in the promotion of heritage and tourist areas in Kathmandu. Dangol asked the participants of the fair to go to their respective countries and inform them about the tourism destinations of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice chair of Nepal Tourism Board Ram Prasad Sapkota mentioned that the fair helped to promote Nepal's tourism in the international market. He said that the efforts of the private sector have been commendable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism expo also had the participation of Malaysia Tourism Board and Bihar Tourism Board of India. There were stalls of 150 tourism enterprises from 16 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The managing director of Summit Events Markets, Bishnu Pandey informed that more than five thousand people attended the two-day expo. A group discussion related to tourism promotion was held at the fair. With the successful completion of the first expo organized by the private sector, the organizers have also announced that the second edition will be held on May 30 and 31 next year. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21009', 'image' => '20240616125300_tourism-expo-nepal.jpg', 'article_date' => '2024-06-16 12:52:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21282', 'article_category_id' => '1', 'title' => 'Air Pollution Linked to 135 Million Premature Deaths: Study', 'sub_title' => '', 'summary' => 'SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather phenomena like El Nino and the Indian Ocean Dipole worsened the effects of these pollutants by intensifying their concentration in the air, Singapore's Nanyang Technological University (NTU) said, unveiling the results of a study led by its researchers last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The tiny particles called particulate matter 2.5, or "PM 2.5", are harmful to human health when inhaled because they are small enough to enter the bloodstream, AFP reported. They come from vehicle and industrial emissions as well as natural sources like fires and dust storms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fine particulate matter "was associated with approximately 135 million premature deaths globally" from 1980 to 2020, the university said in a statement on the study, published in the journal Environment International.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that people were dying younger than the average life expectancy from diseases or conditions that could have been treated or prevented, including stroke, heart and lung disease, and cancer.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather patterns increased the deaths by 14 percent, the study found.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the study, Asia had the "highest number of premature deaths attributable to PM 2.5 pollution" at more than 98 million people, mostly in China and India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pakistan, Bangladesh, Indonesia and Japan also had significant numbers of premature deaths, ranging from 2 to 5 million people, it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that the study is one of the most expansive till date on air quality and climate, using 40 years of data to give a big-picture view of the effects of particulate matter on health.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Our findings show that changes in climate patterns can make air pollution worse," AFP quoted Steve Yim, an associate professor at NTU's Asian School of the Environment who led the study, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"When certain climate events happen, like El Nino, pollution levels can go up, which means more people might die prematurely because of PM 2.5 pollution," Yim added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"This highlights the need to understand and account for these climate patterns when tackling air pollution to protect the health of the global population."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, the Singapore researchers studied satellite data from the US National Aeronautics and Space Administration (NASA) on the levels of particulate matter in the Earth's atmosphere.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">They analysed statistics on deaths from diseases linked to pollution from the US-based Institute for Health Metrics and Evaluation, an independent research centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Information on weather patterns during the period was taken from the National Oceanic and Atmospheric Administration in the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The study focused only on the effects of ordinary weather patterns on air pollution, Yim said, adding that the impact of climate change will be the subject of future studies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Researchers from universities in Hong Kong, Britain and China were also involved in the study.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The World Health Organization has said the "combined effects of ambient air pollution and household air pollution" are associated with 6.7 million premature deaths worldwide every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21008', 'image' => '20240616113718_20240429021245_Untitled.jpg', 'article_date' => '2024-06-16 11:36:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21281', 'article_category_id' => '1', 'title' => 'Sikta Irrigation Project Achieves 92 Percent Physical Progress in Current FY ', 'sub_title' => '', 'summary' => 'RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. The national pride project aims to provide irrigation facility to 42,766 hectares of land of six rural municipalities in Kohalpur municipality and Nepalgunj sub-metropolitan city in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sandesh Poudel, engineer of the project, shared that out of Rs 830 million allocated for the Sikta Irrigation Project for the current fiscal year, over Rs 760 million has been spent as of December, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget ceiling has been increased for the Sikta Irrigation Project in the upcoming fiscal year 2024/25. Over Rs 1.6 billion has been allocated for the project for the upcoming fiscal year, Poudel shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Works relating to Daduwa section canal is underway at present, he said. The project initiated in FY 2005/06 is expected to be completed by FY 2032/33 as per the revised master plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project in accordance with the revised master plan is over Rs 52 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge faced by the project for timely completion is budget deficit, besides problems in distribution of compensation for those whose land were acquired for the project. -- RSS </span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21007', 'image' => '20240616110753_sikta.jpg', 'article_date' => '2024-06-16 11:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21280', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 15: The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A meeting of the NOC Board of Directors decided to implement these price reductions, which took effect from last night. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the price cut, petrol will now cost Rs 162.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, the price of petrol is set at Rs 164 per litre. In Kathmandu, Pokhara, and Dipayal, petrol will be sold at Rs 165 per litre. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, diesel and kerosene will cost Rs 149.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, these fuels will be priced at Rs 151 per litre. In Kathmandu, Pokhara, and Dipayal, diesel and kerosene will be available at Rs 152 per litre, according to the NOC.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21006', 'image' => '20240616081654_collage (34).jpg', 'article_date' => '2024-06-16 08:15:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '21279', 'article_category_id' => '1', 'title' => 'PM Dahal Inaugurates 400-kV Hetauda Substation', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> June 14: Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Located at Thana Bharyang in Hetuda Sub-Metropolitan City-11, the Hetauda Substation is Nepal's third largest automatic substation utilizing Gas Insulated System (GIS) technology. It began operations last Friday, enhancing the country's power transmission capabilities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to the 400-kV substation, two other substations of 220 kV and 132/11 kV capacities have also been constructed at Thana Bharyang by the Nepal-India Electricity Transmission and Trade Project. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These substations also started operations last Friday, further bolstering the region's power infrastructure.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The GIS-based Dhalkebar substation is currently the largest in Nepal, followed by the Inaruwa substation, with Hetauda being the third. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These developments aim to ensure a reliable and high-quality power supply across the east-west corridor of Nepal and facilitate electricity trade with India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the Hetauda substation operational, infrastructure capable of transmitting around 4,000 megawatts of electricity is now in place. This is expected to significantly strengthen domestic electricity supply and expand electricity trade with India. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hetauda-Dhalkebar-Inaruwa 400-kV transmission line, once fully completed, will enable the transmission of this power across the east-west axis from Dhalkebar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, a 400-kV double-circuit transmission line, to be constructed from Ratmate in Nuwakot with assistance from the US Millennium Challenge Corporation (MCC), will be connected to the Hetauda substation. The necessary infrastructure at Hetauda for this connection has already been established.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The expansion of the Hetauda, Dhalkebar, and Inaruwa 400-kV substations was initiated through a joint investment by the Government of Nepal and NEA, under the National Electricity Development Decade program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The contract for constructing the 220/132/11-kV Hetauda substation was signed in December 2018, funded by the Nepal-India Electricity Transmission and Trade Project, government and NEA investments, and a World Bank soft loan. The total estimated cost of the Hetauda substation project is Rs 3 billion. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21005', 'image' => '20240614041443_collage (11).jpg', 'article_date' => '2024-06-14 16:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21278', 'article_category_id' => '1', 'title' => 'Where will the Govt Spend Rs 76 Billion Allocated under the Heading of Miscellaneous Finance?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year. Approximately Rs 76 billion have been earmarked under the 'Miscellaneous Finance' heading for the next fiscal year, intended for earthquake reconstruction and hosting foreign dignitaries. In the current year, an estimated Rs 57.369 billion will be spent under miscellaneous headings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This budget allocation method allows the government discretionary spending without allocation for specific project, which can be seen as lacking financial discipline. The Integrated Economic Indicators and Classification 2074 issued by the Financial Comptroller General Office discourages budgeting through various sources without clear plans. If existing plans are underfunded, additional funds can be drawn from the miscellaneous heading. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ministry has also allocated Rs 75.083 billion as miscellaneous for the fiscal year 2081/82. This includes Rs 10 million for special visits, Rs 15 million for hosting delegations, Rs 5.083 billion for land compensation for government projects, Rs 10 million for financial aid, Rs 300 million for customs refunds, Rs 300 million for building purchases, construction, and improvements, Rs 5.3 million for infrastructure, and Rs 62 million rupees for various fees and payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Rs 25.98 billion have been allocated for miscellaneous expenses, Rs 19.8 billion rupees for disaster relief and rehabilitation, and Rs 8.3 billion for development programs under different headings. Additionally, Rs 3 billion are set aside for federal structure and infrastructure development programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry has allocated Rs 4.015 billion under miscellaneous headings to address complaints about the lack of budget for incomplete projects. It has also reserved Rs 2 billion from various sources for the Gandaki Economic Triangle Project, with clear criteria being established for its expenditure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on this, Joint Secretary of the Ministry of Finance, Uttar Kumar Khatri, stated that the budget includes significant allocations from various sources, ranging from earthquake reconstruction to visits by foreign dignitaries. He emphasized that specific visits will be funded from different sources, including various types of financial assistance announced by the Council of Ministers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala expressed concern over the increase in budget under this heading to Rs 76 billion, noting that this could lead to misuse due to the lack of clear guidelines for spending such funds. He stressed the importance of clearly defining the areas where these funds can be spent and ensuring proper management.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It seems that the Ministry of Finance has spent approximately Rs 310 million under the miscellaneous heading so far this year, and there are concerns that the increase to Rs 76 billion in various headings in the next year's budget could lead to misuse.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21004', 'image' => '20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-06-14 14:19:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21275', 'article_category_id' => '1', 'title' => 'Fourth Living Standards Survey Indicates Rise in Youth Unemployment', 'sub_title' => '76.8 Percent Households Receive Remittances', 'summary' => 'KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. According to the National Statistics Office, the unemployment rate reached 12.6 percent in the fiscal year 2079/80.Tthe unemployment rate was only 4.9 percent in the First Living Standards Survey conducted in the fiscal year 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Nepal Labor Force Survey for the fiscal year 2074/75 reported a slightly lower unemployment rate of 11.4 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Fourth Living Standards Survey highlights widespread youth unemployment, with the rate among 15 to 24-year-olds reaching 22.7 percent, up from 7.3 percent in 2052/53. The report underscores the difficulty young people face in finding employment opportunities within the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hemraj Regmi, Deputy Chief Statistics Officer at the National Statistics Office, attributed the high youth unemployment rate to the lack of job opportunities, which drives many youths to seek work abroad. "The youth are going abroad due to the lack of job opportunities in the country," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also notes that a significant portion of Nepal's labor force works as daily wage earners, indicating a lack of stable employment opportunities. Specifically, 64.9 percent of salaried workers are paid on a daily basis, while 28.7 percent receive monthly salaries, and 6.4 percent are employed on contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Due to the scarcity of domestic job opportunities, a large number of Nepalis have migrated abroad, and the remittances they send back have played a crucial role in bolstering the economy. As a result, the Living Standards Survey reports that 76.8 percent of households received remittances in the fiscal year 2079/80, up from 23.4 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The survey also indicates changes in the sources of remittances received by households. In 2079/80, 49.4 percent of households received remittances from countries other than India, while 21.3 percent received remittances from India. The proportion of households receiving domestic remittances was 29.3 percent, down from 44.7 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, the report highlights an increase in non-communicable diseases, with conditions such as blood pressure, stomach-related issues, diabetes, and respiratory diseases showing higher prevalence rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report further details that education sector expenditure averages Rs 29,742 per person per year, with significant variance between individuals below and above the poverty line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the survey, 20.27 percent of Nepal's total population still lives below the poverty line, down from 25.16 percent reported in the third survey. The poverty rates vary significantly by province, with the Far West having the highest poverty rate at 34.16 percent, and Bagmati the lowest at 12.59 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Overall, the survey provides comprehensive insights into various aspects of Nepal's living standards, including access to education, health, and economic opportunities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => 'survey, Nepal, living, standard, national, statistics, remittance, employment, data', 'description' => '', 'sortorder' => '21003', 'image' => '20240614015128_20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2024-06-14 13:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21276', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Innovative Solutions to Turn Waste into Useful Resources', 'sub_title' => 'Nepal’s First Waste Management and Climate Conference Sets the Stage for a Sustainable Future', 'summary' => 'KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event, the first-ever hosted by Nepal, was organized by the Confederation of Nepalese Industries (CNI), the Coca-Cola Foundation, the National Human Rights Commission (NHRC), Khaalisisi, Women for Human Rights (WHR), and CNIYEF, uniting key stakeholders to address Nepal’s waste management and climate challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC brought together government officials, industry leaders, environmental experts, and community advocates to tackle critical issues related to waste management, climate change, and environmental sustainability.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The WMCC is a milestone event for Nepal," said Carlos Pagoaga, president of the Coca-Cola Foundation. "It reflects our shared commitment to creating sustainable solutions for the environmental challenges we face."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, the organisers said that the key component of the conference was the Mayor's Forum, which facilitated dialogue between local government officials and industry leaders on effective municipal waste management strategies. Mayors from Lalitpur, Dhangadi, Dhankuta, Budhanilkantha, and the deputy-mayor from Chandragiri participated in the discussion, the statement added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The conference explored innovative solutions to turn waste into useful resources, promoting a circular economy, said the organisers. It discussed issues like carbon emissions, plastic pollution, air pollution in Kathmandu, and the effects of climate change on the Himalayas, including Mount Everest. Presentations highlighted innovative waste management ideas from GIZ and Nepal's commitments to the Paris Agreement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This conference is a significant step towards empowering communities, especially women, to take part in climate action,” said Kabita Pandey, president of Women for Human Rights (WHR). “Together, we can drive meaningful change.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">House of Representatives members Sobita Gautam, Toshima Karki, and Uday Rana emphasized the crucial need for collaborative efforts in tackling environmental challenges. Their insights highlighted the power of united action in fostering sustainable solutions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nearly 1,000 delegates from 600 organizations across 33 districts and 5 countries attended the event, highlighting the widespread interest and commitment to advancing waste management and climate action in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC served as a national platform, uniting government officials, parliamentarians, diplomats, and industry experts. It fostered collaboration and policy dialogue to advance Nepal's waste management and climate agenda, driving tangible outcomes for a cleaner, more sustainable future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event concluded with concrete commitments from various stakeholders, setting a clear roadmap for future actions. The collaboration and innovative ideas presented have laid the groundwork for significant improvements in waste management and environmental policies, ensuring a lasting impact on Nepal’s sustainability efforts, added the statement.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21002', 'image' => '20240614020951__RD47677 (1).jpg', 'article_date' => '2024-06-14 14:07:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21274', 'article_category_id' => '1', 'title' => 'Exports of Handicraft Products Exceed Rs 3.26 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Handicraft Associations of Nepal (FHAN), felt items make up the highest portion of exports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Federation’s Director General, Uttam Prasad Devkota, told the RSS that Nepal exported handicraft items made of felt worth over Rs 1.28 billion as of May 28 of the current fiscal year that had started on July 17, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Products made of Allo (Himalayan nettle), bamboo, pote (glass beads), animal bones and horns, ceramic, Dhaka, metal, garments, papers, silk, silver, wood, wool, stone, plants, pashmina, and so on are supplied from Nepal to various countries including India, China, the US, Germany, Denmark, the Netherlands, Britain, Australia and Singapore. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FHAN said there is a growing demand for advanced handicrafts than traditional ones in international markets. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21000', 'image' => '20240614010800_20201001053942_1601506595.Clipboard12.jpg', 'article_date' => '2024-06-14 13:07:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21273', 'article_category_id' => '1', 'title' => 'The Nepal-Bangladesh Joint Mechanism Meeting Postponed', 'sub_title' => '', 'summary' => 'KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. Originally scheduled to be held in Pokhara on June 23 and 24, the meeting was postponed after the Bangladesh government requested for rescheduling it.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are two joint mechanisms between the two countries: a Joint Secretary-level Joint Working Group (JWG) and a Secretary-level Joint Steering Committee (JSC) under the Ministry of Energy. This year's meeting, which was to be held in Nepal, follows last year's meeting in Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Navin Singh, spokesperson for the Ministry of Energy, Water Resources, and Irrigation, said, "The date had to be postponed after the Bangladesh energy secretary-level team indicated a potential delay. We are awaiting formal confirmation from Bangladesh, but we expect the meeting to take place by early July."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials in Nepal have indicated that the meeting aims to finalize an agreement for the sale of 40 megawatts of electricity from Nepal to Bangladesh. Additionally, discussions are expected on a joint venture agreement for the construction of the Sunkoshi III hydropower project, which has a capacity of 683 megawatts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier this week, Bangladesh's procurement committee, chaired by Finance Minister Abul Hasan Mahmud Ali, decided to purchase 40 megawatts of electricity from Nepal for a period of 5 years. The purchase price is set at 8.17 Bangladeshi taka (equivalent to Rs 9.30) per unit, as reported by Bangladeshi media. However, the transmission line fee through India has yet to be determined.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following the Nepal-Bangladesh meeting, a tripartite agreement between Nepal, Bangladesh, and India will be necessary to export electricity from Nepal to Bangladesh through India's transmission lines. India has already given approval for this tripartite agreement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Sunkoshi III project, which will be located on the Sunkoshi River in the border area of Ramechhap and Kavrepalanchok districts, has been a topic of discussion for joint investment by both countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During last year’s meeting in Pataukhali, Bangladesh, the two countries had agreed to sign a Memorandum of Understanding (MoU) between the Nepal Electricity Authority and the Bangladesh Power Development Board for the Sunkoshi III project within 6 months. Although the MoU was not signed within the agreed timeframe, government officials from both countries are working to finalize it. Both Nepal and Bangladesh are interested in involving Indian companies in the joint venture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was postponed amid ongoing efforts by Nepal and Bangladesh to strengthen bilateral energy cooperation and infrastructure development.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20999', 'image' => '20240614122519_20240613112209_20240223021605_banglad.jpg', 'article_date' => '2024-06-14 12:24:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21272', 'article_category_id' => '1', 'title' => 'CIB Arrests One more in Connection with Hyperfund Scam ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to CIB Spokesperson and Information Officer, Superintendent of Police, Hobindra Bogati, the second person arrested over the scam is Srikant Bhandari. He was apprehended from Rukum on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the CIB apprehended Nanu Ghimire aka Kajal from Lalitpur over her alleged involvement in duping Nepalis in the scam. Till date, the CIB has received complaints from 56 people of fraud over Rs 79.5 million in the scam. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the CIB says, it has been preparing to issue a red corner notice through Interpol against those against whom complaints have been filed by the alleged victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CIB has appealed to those duped in the scam to register a complaint at the CIB. It has also provided an online space for the registration of the complaint. One can visit the official website of CIB https://cib.nepalpolice.gov.np and lodge a complaint at cib_spokesperson@nepalpolice.gov.np or cib@nepalpolice.gov.np featured on the site. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hyperfunding is the fundraising of large sums of money in a brief campaign by a company that directly targets consumers or investors via the Internet. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20998', 'image' => '20240614114204_20190923103804_cib-nepal 2.jpg', 'article_date' => '2024-06-14 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21271', 'article_category_id' => '1', 'title' => 'National ID Card Mandatory for Social Security Allowance ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance. It will be effective in 28 districts from July 16 as per the recent Cabinet decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With this decision, the district administration offices have been ovwecrowded by those in need of the ID card. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at National ID Card and Registration Department, Yubraj Kattel, shared that the scheme would be enforced from July 16 even for the renewal of social security scheme in 28 districts. The concerned district administration offices were mobilizing additional resources at local levels for the distribution of national ID cards, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The districts implementing this provision are Jhapa, Rautahat, Rupandehi, Morang, Sarlahi, Kapilvastu, Sunsari, Kathmandu, Dang, Udayapur, Bhaktapur, Banke, Saptari, Lalitpur, Bardiya, Siraha, Sindhuli, Surkhet, Dhanusha, Makwanpur, Kailali, Mahottari, Chitwan, Kanchanpur, Bara, Kaski, Parsa, and Tanahu. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The department launched the distribution of national ID card since the past four years in 73 districts. On Wednesday, the department however issued a notice, informing that the people above 90 years and those living with disabilities need not produce national ID cards while receiving social security allowance. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20997', 'image' => '20240614112515_social.jpg', 'article_date' => '2024-06-14 11:08:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '21287', 'article_category_id' => '1', 'title' => 'NEPSE Plunges 17.04 Points to Close at 2095.25', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 16: The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 13,223,884 units of shares were traded on the NEPSE through 71,997 transactions. The total turnover for the day was Rs 5.47 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) was the top traded company with a turnover of Rs 30 crore. NFS also saw the highest gain of the day, rising 10%. Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) was the second-biggest gainer, its share price increasing by 9.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bhagawati Hydropower Development Company Limited (BGWT) was the biggest loser of the day, with its share price falling 10% to Rs 1017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices except for the Hotels and Tourism Index closed in the red. The Development Bank Index saw the biggest decline, falling 1.20%. The Hotels and Tourism Index, on the other hand, rose 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21012', 'image' => '20240616035512_collage (12).jpg', 'article_date' => '2024-06-16 15:54:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21285', 'article_category_id' => '1', 'title' => 'Majority of Provincial Governments Downsize Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIJAY DAMASE</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants. The state governments' ability to expand their budgets has been significantly affected after the federal government announced to reduce subsidies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY) 2080/81, the federal government allocated Rs 105.6 billion in grants to all seven provinces. However, for the upcoming fiscal year 2081/82, the allocation has been reduced to Rs 96.45 billion. This reduction has impacted the provincial governments' budget allocations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On Saturday, the state governments announced their budgets for the upcoming fiscal year 2081/82. Except for Bagmati and Sudurpaschim provinces, the budget size of the provincial governments for the next fiscal year has decreased compared to the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ram Bahadur Magar, Economic Affairs Minister of the Koshi Province government, stated that the federal government's grants has decreased and the state has not met its revenue collection target, leading to a reduced budget size. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"A significant grant from the center has decreased. We could not propose a large budget this time because our internal revenue is weak," he said in a conversation with New Business Age. The federal government provided Rs 16.11 billion rupees in grants to this province for the current year, but only Rs 14.54 billion have been allocated for the next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh Province has also reduced its budget size for the next year due to the grant cuts. The federal government has allocated Rs 11.35 billion for Madhesh Province this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki province faces a similar situation, with its budget affected by the decline in federal grants. Gandaki received Rs 13.6 billion in federal grants this year but will receive only Rs 12.58 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini's subsidy allocation has decreased from Rs 15.38 billion this year to Rs 14.1 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali Province will also have a smaller budget next year due to federal grant cuts. It received Rs 16.27 billion this year but will receive only Rs 16.3 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite the decrease in federal grants, Sudurpaschim and Bagmati provinces have increased their budget sizes. Sudurpaschim will receive a central grant of Rs 13.83 billion next year, down from Rs 14.42 billion this year. Bagmati, which received Rs 15.81 billion in federal grants this year, will get only Rs 14.7 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federal government distributes equalization, conditional, special, and supplementary grants to provinces and local levels. These sub-national governments also receive resources from revenue sharing. The resources from revenue distribution to state and local levels have also been reduced. The federal budget states that these two levels of government will receive Rs 159 billion from revenue distribution next year, down from Rs 173 billion allocated this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Binay Kumar Mishra, Assistant Professor of the Department of Public Policy at Kathmandu University, commented that the significant reduction in grants to provincial governments will impact the size of next year's budgets. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The government made a mistake by cutting conditional and equalization grants. This will impact the socio-economic sectors of the provinces," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">Provincial Budgets</span></span></strong></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi has announced a budget of Rs 35.27 billion for the upcoming year, down from Rs 36.24 billion this year. Economic Affairs Minister Ram Bahadur Magar attributed the reduction to decreased federal grants and lower-than-expected internal revenue. The province has prioritied infrastructure development, agriculture, and tourism, with Rs 10.41 billion allocated for road infrastructure and Rs 2.67 billion for industry, commerce, and cooperatives. The budget for free treatment services for children under 10, introduced by the previous government, has been cut. The province will celebrate 2082 as Tourism Year and has allocated funds for local income programs and various festivals.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Bharat Prasad Sah announced a budget of Rs 43.89 billion for the next year, slightly down from Rs 44.11 billion this year. The budget allocates Rs 16.07 billion for current expenses and Rs 27.89 billion for capital expenses. The province has also allocated significant funds to the Ministry of Physical Infrastructure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Jagannath Thapalia presented a budget of Rs 67.54 billion for the upcoming year, up from Rs 62.77 billion this year. The budget focuses on roads, agriculture, and tourism, with significant allocations for road construction and agricultural modernization.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Dr Takaraj Gurung's budget includes provisions for branding domestic liquor and legalizing marijuana cultivation. The budget has also allocated funds to local governments and for tourism development, including bicycle lanes and homestay programs. The total budget for next year is Rs 32.97 billion, slightly down from Rs 33.42 billion this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Chet Narayan Acharya announced a budget of Rs 38.97 billion for the upcoming year, down from Rs 40.47 billion this year. The budget prioritizes infrastructure, technology and education and has allocated significant funds for Lumbini Technical University.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Mahendra KC presented a budget of Rs 31.41 billion for the next year, down from Rs 33.37 billion this year. The budget focuses on economic prosperity, social justice, poverty alleviation, job creation, and entrepreneurship.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudurpaschim</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Surendra Bahadur Pal announced a budget of Rs 31.62 billion, up from Rs 29.26 billion this year. The budget includes provisions for increasing state income through revised tax rates and formalizing private businesses.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21011', 'image' => '20240616023437_budget.jpg', 'article_date' => '2024-06-16 14:33:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21284', 'article_category_id' => '1', 'title' => 'Advance Income Tax on Food Grains Results in Piling up of 400 Containers at Customs', 'sub_title' => '', 'summary' => 'KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. This situation has arisen following the government's introduction of an advance income tax (AIT) on food imports through the Finance Bill for the fiscal year (FY) 2081/82. The bill imposes advance income tax ranging from 1.5% to 10% on commercial food imports. Effective from May 28, the tax is set at 2% for rice and 10% for pulses, up from a previous maximum of 5%.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, president of the Nepal Rice, Oil, and Lentil Association, reported that approximately 400 containers belonging to 35 food industries have been stopped at the customs. "The new tax has increased the cost of importing food grains, leading businessmen to hold pulses and other grains at customs without completing the clearance process," Gupta said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association protested against the government's decision, arguing that the heavy advance income tax on daily consumables is unreasonable. Containers from 35 industries, including Shivshakti Agro, Nepal Agro, Triveni Dal Mill, Mahaveer Agro Processing, and Namaste Agro, have been halted at various customs points. Sushil Sharma, the information officer at Birgunj Dry Port Customs, noted that around 130 containers are stuck at Birgunj alone.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Half a dozen importers, including Triveni Dal Udyog, Shivshakti Agro, and Nepal Agro, have not passed the customs clearance," he stated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anand Gupta, information officer of the Inland Revenue Department, told New Business Age that the increased advance income tax will no longer be refundable as before. Stakeholders worry that this non-refundable provision may further increase the price of imported food.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Under the new legal system, if we import pulses worth Rs 10 million, we have to pay Rs 1 million as advance income tax," said Gupta. "This will significantly impact both businessmen and ordinary consumers." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government argues that the increased advance income tax rate aims to protect domestic production. Finance Minister Barshman Pun has stated in various forums, including Parliament, that the hike in advance income tax is justified because the goods subject to the tax are produced in sufficient quantities within the country. He believes this policy will encourage local production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, businessmen argue that relying solely on domestic products is not feasible for running the food industry at full capacity. The new Finance Bill imposes a 10% advance income tax on daily consumables such as potatoes, onions, lentils, and pulses. Similarly, a 2.5% advance income tax is imposed on the import of rice, flour, and other similar items. Businessmen claim that the high advance income tax on vegetables, potatoes, onions, and fish will lead to skyrocketing prices, adversely affecting common consumers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bivor Agarwal, a member of the association, remarked that the government policy has made food grains more expensive. "Now, rice has become more expensive by Rs 100 per bag, and pulses and grains have increased by Rs 10 to 15 per kg," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal imports paddy and rice from India, while pulses and grains come from countries such as Canada, the USA, and Australia.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21010', 'image' => '20240616020712_1642924016.Bhansar-aryat-niryat.jpg', 'article_date' => '2024-06-16 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21283', 'article_category_id' => '1', 'title' => 'International Tourism Expo Concludes in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. The two-day fair organized by Summit Events Markets with the support of Nepal Tourism Board and Kathmandu Metropolitan City (KMC), had started on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sunita Dangol, Deputy Mayor of KMC, said during the closing ceremony of the fair that the continuation of such programmes is necessary for the promotion of tourism in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further promised that the KMC will always support and help in the promotion of heritage and tourist areas in Kathmandu. Dangol asked the participants of the fair to go to their respective countries and inform them about the tourism destinations of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice chair of Nepal Tourism Board Ram Prasad Sapkota mentioned that the fair helped to promote Nepal's tourism in the international market. He said that the efforts of the private sector have been commendable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism expo also had the participation of Malaysia Tourism Board and Bihar Tourism Board of India. There were stalls of 150 tourism enterprises from 16 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The managing director of Summit Events Markets, Bishnu Pandey informed that more than five thousand people attended the two-day expo. A group discussion related to tourism promotion was held at the fair. With the successful completion of the first expo organized by the private sector, the organizers have also announced that the second edition will be held on May 30 and 31 next year. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21009', 'image' => '20240616125300_tourism-expo-nepal.jpg', 'article_date' => '2024-06-16 12:52:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21282', 'article_category_id' => '1', 'title' => 'Air Pollution Linked to 135 Million Premature Deaths: Study', 'sub_title' => '', 'summary' => 'SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather phenomena like El Nino and the Indian Ocean Dipole worsened the effects of these pollutants by intensifying their concentration in the air, Singapore's Nanyang Technological University (NTU) said, unveiling the results of a study led by its researchers last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The tiny particles called particulate matter 2.5, or "PM 2.5", are harmful to human health when inhaled because they are small enough to enter the bloodstream, AFP reported. They come from vehicle and industrial emissions as well as natural sources like fires and dust storms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fine particulate matter "was associated with approximately 135 million premature deaths globally" from 1980 to 2020, the university said in a statement on the study, published in the journal Environment International.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that people were dying younger than the average life expectancy from diseases or conditions that could have been treated or prevented, including stroke, heart and lung disease, and cancer.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather patterns increased the deaths by 14 percent, the study found.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the study, Asia had the "highest number of premature deaths attributable to PM 2.5 pollution" at more than 98 million people, mostly in China and India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pakistan, Bangladesh, Indonesia and Japan also had significant numbers of premature deaths, ranging from 2 to 5 million people, it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that the study is one of the most expansive till date on air quality and climate, using 40 years of data to give a big-picture view of the effects of particulate matter on health.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Our findings show that changes in climate patterns can make air pollution worse," AFP quoted Steve Yim, an associate professor at NTU's Asian School of the Environment who led the study, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"When certain climate events happen, like El Nino, pollution levels can go up, which means more people might die prematurely because of PM 2.5 pollution," Yim added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"This highlights the need to understand and account for these climate patterns when tackling air pollution to protect the health of the global population."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, the Singapore researchers studied satellite data from the US National Aeronautics and Space Administration (NASA) on the levels of particulate matter in the Earth's atmosphere.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">They analysed statistics on deaths from diseases linked to pollution from the US-based Institute for Health Metrics and Evaluation, an independent research centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Information on weather patterns during the period was taken from the National Oceanic and Atmospheric Administration in the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The study focused only on the effects of ordinary weather patterns on air pollution, Yim said, adding that the impact of climate change will be the subject of future studies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Researchers from universities in Hong Kong, Britain and China were also involved in the study.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The World Health Organization has said the "combined effects of ambient air pollution and household air pollution" are associated with 6.7 million premature deaths worldwide every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21008', 'image' => '20240616113718_20240429021245_Untitled.jpg', 'article_date' => '2024-06-16 11:36:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21281', 'article_category_id' => '1', 'title' => 'Sikta Irrigation Project Achieves 92 Percent Physical Progress in Current FY ', 'sub_title' => '', 'summary' => 'RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. The national pride project aims to provide irrigation facility to 42,766 hectares of land of six rural municipalities in Kohalpur municipality and Nepalgunj sub-metropolitan city in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sandesh Poudel, engineer of the project, shared that out of Rs 830 million allocated for the Sikta Irrigation Project for the current fiscal year, over Rs 760 million has been spent as of December, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget ceiling has been increased for the Sikta Irrigation Project in the upcoming fiscal year 2024/25. Over Rs 1.6 billion has been allocated for the project for the upcoming fiscal year, Poudel shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Works relating to Daduwa section canal is underway at present, he said. The project initiated in FY 2005/06 is expected to be completed by FY 2032/33 as per the revised master plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project in accordance with the revised master plan is over Rs 52 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge faced by the project for timely completion is budget deficit, besides problems in distribution of compensation for those whose land were acquired for the project. -- RSS </span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21007', 'image' => '20240616110753_sikta.jpg', 'article_date' => '2024-06-16 11:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21280', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 15: The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A meeting of the NOC Board of Directors decided to implement these price reductions, which took effect from last night. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the price cut, petrol will now cost Rs 162.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, the price of petrol is set at Rs 164 per litre. In Kathmandu, Pokhara, and Dipayal, petrol will be sold at Rs 165 per litre. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, diesel and kerosene will cost Rs 149.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, these fuels will be priced at Rs 151 per litre. In Kathmandu, Pokhara, and Dipayal, diesel and kerosene will be available at Rs 152 per litre, according to the NOC.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21006', 'image' => '20240616081654_collage (34).jpg', 'article_date' => '2024-06-16 08:15:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '21279', 'article_category_id' => '1', 'title' => 'PM Dahal Inaugurates 400-kV Hetauda Substation', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> June 14: Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Located at Thana Bharyang in Hetuda Sub-Metropolitan City-11, the Hetauda Substation is Nepal's third largest automatic substation utilizing Gas Insulated System (GIS) technology. It began operations last Friday, enhancing the country's power transmission capabilities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to the 400-kV substation, two other substations of 220 kV and 132/11 kV capacities have also been constructed at Thana Bharyang by the Nepal-India Electricity Transmission and Trade Project. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These substations also started operations last Friday, further bolstering the region's power infrastructure.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The GIS-based Dhalkebar substation is currently the largest in Nepal, followed by the Inaruwa substation, with Hetauda being the third. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These developments aim to ensure a reliable and high-quality power supply across the east-west corridor of Nepal and facilitate electricity trade with India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the Hetauda substation operational, infrastructure capable of transmitting around 4,000 megawatts of electricity is now in place. This is expected to significantly strengthen domestic electricity supply and expand electricity trade with India. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hetauda-Dhalkebar-Inaruwa 400-kV transmission line, once fully completed, will enable the transmission of this power across the east-west axis from Dhalkebar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, a 400-kV double-circuit transmission line, to be constructed from Ratmate in Nuwakot with assistance from the US Millennium Challenge Corporation (MCC), will be connected to the Hetauda substation. The necessary infrastructure at Hetauda for this connection has already been established.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The expansion of the Hetauda, Dhalkebar, and Inaruwa 400-kV substations was initiated through a joint investment by the Government of Nepal and NEA, under the National Electricity Development Decade program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The contract for constructing the 220/132/11-kV Hetauda substation was signed in December 2018, funded by the Nepal-India Electricity Transmission and Trade Project, government and NEA investments, and a World Bank soft loan. The total estimated cost of the Hetauda substation project is Rs 3 billion. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21005', 'image' => '20240614041443_collage (11).jpg', 'article_date' => '2024-06-14 16:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21278', 'article_category_id' => '1', 'title' => 'Where will the Govt Spend Rs 76 Billion Allocated under the Heading of Miscellaneous Finance?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year. Approximately Rs 76 billion have been earmarked under the 'Miscellaneous Finance' heading for the next fiscal year, intended for earthquake reconstruction and hosting foreign dignitaries. In the current year, an estimated Rs 57.369 billion will be spent under miscellaneous headings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This budget allocation method allows the government discretionary spending without allocation for specific project, which can be seen as lacking financial discipline. The Integrated Economic Indicators and Classification 2074 issued by the Financial Comptroller General Office discourages budgeting through various sources without clear plans. If existing plans are underfunded, additional funds can be drawn from the miscellaneous heading. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ministry has also allocated Rs 75.083 billion as miscellaneous for the fiscal year 2081/82. This includes Rs 10 million for special visits, Rs 15 million for hosting delegations, Rs 5.083 billion for land compensation for government projects, Rs 10 million for financial aid, Rs 300 million for customs refunds, Rs 300 million for building purchases, construction, and improvements, Rs 5.3 million for infrastructure, and Rs 62 million rupees for various fees and payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Rs 25.98 billion have been allocated for miscellaneous expenses, Rs 19.8 billion rupees for disaster relief and rehabilitation, and Rs 8.3 billion for development programs under different headings. Additionally, Rs 3 billion are set aside for federal structure and infrastructure development programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry has allocated Rs 4.015 billion under miscellaneous headings to address complaints about the lack of budget for incomplete projects. It has also reserved Rs 2 billion from various sources for the Gandaki Economic Triangle Project, with clear criteria being established for its expenditure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on this, Joint Secretary of the Ministry of Finance, Uttar Kumar Khatri, stated that the budget includes significant allocations from various sources, ranging from earthquake reconstruction to visits by foreign dignitaries. He emphasized that specific visits will be funded from different sources, including various types of financial assistance announced by the Council of Ministers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala expressed concern over the increase in budget under this heading to Rs 76 billion, noting that this could lead to misuse due to the lack of clear guidelines for spending such funds. He stressed the importance of clearly defining the areas where these funds can be spent and ensuring proper management.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It seems that the Ministry of Finance has spent approximately Rs 310 million under the miscellaneous heading so far this year, and there are concerns that the increase to Rs 76 billion in various headings in the next year's budget could lead to misuse.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21004', 'image' => '20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-06-14 14:19:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21275', 'article_category_id' => '1', 'title' => 'Fourth Living Standards Survey Indicates Rise in Youth Unemployment', 'sub_title' => '76.8 Percent Households Receive Remittances', 'summary' => 'KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. According to the National Statistics Office, the unemployment rate reached 12.6 percent in the fiscal year 2079/80.Tthe unemployment rate was only 4.9 percent in the First Living Standards Survey conducted in the fiscal year 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Nepal Labor Force Survey for the fiscal year 2074/75 reported a slightly lower unemployment rate of 11.4 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Fourth Living Standards Survey highlights widespread youth unemployment, with the rate among 15 to 24-year-olds reaching 22.7 percent, up from 7.3 percent in 2052/53. The report underscores the difficulty young people face in finding employment opportunities within the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hemraj Regmi, Deputy Chief Statistics Officer at the National Statistics Office, attributed the high youth unemployment rate to the lack of job opportunities, which drives many youths to seek work abroad. "The youth are going abroad due to the lack of job opportunities in the country," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also notes that a significant portion of Nepal's labor force works as daily wage earners, indicating a lack of stable employment opportunities. Specifically, 64.9 percent of salaried workers are paid on a daily basis, while 28.7 percent receive monthly salaries, and 6.4 percent are employed on contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Due to the scarcity of domestic job opportunities, a large number of Nepalis have migrated abroad, and the remittances they send back have played a crucial role in bolstering the economy. As a result, the Living Standards Survey reports that 76.8 percent of households received remittances in the fiscal year 2079/80, up from 23.4 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The survey also indicates changes in the sources of remittances received by households. In 2079/80, 49.4 percent of households received remittances from countries other than India, while 21.3 percent received remittances from India. The proportion of households receiving domestic remittances was 29.3 percent, down from 44.7 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, the report highlights an increase in non-communicable diseases, with conditions such as blood pressure, stomach-related issues, diabetes, and respiratory diseases showing higher prevalence rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report further details that education sector expenditure averages Rs 29,742 per person per year, with significant variance between individuals below and above the poverty line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the survey, 20.27 percent of Nepal's total population still lives below the poverty line, down from 25.16 percent reported in the third survey. The poverty rates vary significantly by province, with the Far West having the highest poverty rate at 34.16 percent, and Bagmati the lowest at 12.59 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Overall, the survey provides comprehensive insights into various aspects of Nepal's living standards, including access to education, health, and economic opportunities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => 'survey, Nepal, living, standard, national, statistics, remittance, employment, data', 'description' => '', 'sortorder' => '21003', 'image' => '20240614015128_20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2024-06-14 13:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21276', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Innovative Solutions to Turn Waste into Useful Resources', 'sub_title' => 'Nepal’s First Waste Management and Climate Conference Sets the Stage for a Sustainable Future', 'summary' => 'KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event, the first-ever hosted by Nepal, was organized by the Confederation of Nepalese Industries (CNI), the Coca-Cola Foundation, the National Human Rights Commission (NHRC), Khaalisisi, Women for Human Rights (WHR), and CNIYEF, uniting key stakeholders to address Nepal’s waste management and climate challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC brought together government officials, industry leaders, environmental experts, and community advocates to tackle critical issues related to waste management, climate change, and environmental sustainability.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The WMCC is a milestone event for Nepal," said Carlos Pagoaga, president of the Coca-Cola Foundation. "It reflects our shared commitment to creating sustainable solutions for the environmental challenges we face."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, the organisers said that the key component of the conference was the Mayor's Forum, which facilitated dialogue between local government officials and industry leaders on effective municipal waste management strategies. Mayors from Lalitpur, Dhangadi, Dhankuta, Budhanilkantha, and the deputy-mayor from Chandragiri participated in the discussion, the statement added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The conference explored innovative solutions to turn waste into useful resources, promoting a circular economy, said the organisers. It discussed issues like carbon emissions, plastic pollution, air pollution in Kathmandu, and the effects of climate change on the Himalayas, including Mount Everest. Presentations highlighted innovative waste management ideas from GIZ and Nepal's commitments to the Paris Agreement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This conference is a significant step towards empowering communities, especially women, to take part in climate action,” said Kabita Pandey, president of Women for Human Rights (WHR). “Together, we can drive meaningful change.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">House of Representatives members Sobita Gautam, Toshima Karki, and Uday Rana emphasized the crucial need for collaborative efforts in tackling environmental challenges. Their insights highlighted the power of united action in fostering sustainable solutions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nearly 1,000 delegates from 600 organizations across 33 districts and 5 countries attended the event, highlighting the widespread interest and commitment to advancing waste management and climate action in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC served as a national platform, uniting government officials, parliamentarians, diplomats, and industry experts. It fostered collaboration and policy dialogue to advance Nepal's waste management and climate agenda, driving tangible outcomes for a cleaner, more sustainable future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event concluded with concrete commitments from various stakeholders, setting a clear roadmap for future actions. The collaboration and innovative ideas presented have laid the groundwork for significant improvements in waste management and environmental policies, ensuring a lasting impact on Nepal’s sustainability efforts, added the statement.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21002', 'image' => '20240614020951__RD47677 (1).jpg', 'article_date' => '2024-06-14 14:07:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21274', 'article_category_id' => '1', 'title' => 'Exports of Handicraft Products Exceed Rs 3.26 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Handicraft Associations of Nepal (FHAN), felt items make up the highest portion of exports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Federation’s Director General, Uttam Prasad Devkota, told the RSS that Nepal exported handicraft items made of felt worth over Rs 1.28 billion as of May 28 of the current fiscal year that had started on July 17, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Products made of Allo (Himalayan nettle), bamboo, pote (glass beads), animal bones and horns, ceramic, Dhaka, metal, garments, papers, silk, silver, wood, wool, stone, plants, pashmina, and so on are supplied from Nepal to various countries including India, China, the US, Germany, Denmark, the Netherlands, Britain, Australia and Singapore. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FHAN said there is a growing demand for advanced handicrafts than traditional ones in international markets. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21000', 'image' => '20240614010800_20201001053942_1601506595.Clipboard12.jpg', 'article_date' => '2024-06-14 13:07:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21273', 'article_category_id' => '1', 'title' => 'The Nepal-Bangladesh Joint Mechanism Meeting Postponed', 'sub_title' => '', 'summary' => 'KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. Originally scheduled to be held in Pokhara on June 23 and 24, the meeting was postponed after the Bangladesh government requested for rescheduling it.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are two joint mechanisms between the two countries: a Joint Secretary-level Joint Working Group (JWG) and a Secretary-level Joint Steering Committee (JSC) under the Ministry of Energy. This year's meeting, which was to be held in Nepal, follows last year's meeting in Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Navin Singh, spokesperson for the Ministry of Energy, Water Resources, and Irrigation, said, "The date had to be postponed after the Bangladesh energy secretary-level team indicated a potential delay. We are awaiting formal confirmation from Bangladesh, but we expect the meeting to take place by early July."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials in Nepal have indicated that the meeting aims to finalize an agreement for the sale of 40 megawatts of electricity from Nepal to Bangladesh. Additionally, discussions are expected on a joint venture agreement for the construction of the Sunkoshi III hydropower project, which has a capacity of 683 megawatts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier this week, Bangladesh's procurement committee, chaired by Finance Minister Abul Hasan Mahmud Ali, decided to purchase 40 megawatts of electricity from Nepal for a period of 5 years. The purchase price is set at 8.17 Bangladeshi taka (equivalent to Rs 9.30) per unit, as reported by Bangladeshi media. However, the transmission line fee through India has yet to be determined.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following the Nepal-Bangladesh meeting, a tripartite agreement between Nepal, Bangladesh, and India will be necessary to export electricity from Nepal to Bangladesh through India's transmission lines. India has already given approval for this tripartite agreement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Sunkoshi III project, which will be located on the Sunkoshi River in the border area of Ramechhap and Kavrepalanchok districts, has been a topic of discussion for joint investment by both countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During last year’s meeting in Pataukhali, Bangladesh, the two countries had agreed to sign a Memorandum of Understanding (MoU) between the Nepal Electricity Authority and the Bangladesh Power Development Board for the Sunkoshi III project within 6 months. Although the MoU was not signed within the agreed timeframe, government officials from both countries are working to finalize it. Both Nepal and Bangladesh are interested in involving Indian companies in the joint venture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was postponed amid ongoing efforts by Nepal and Bangladesh to strengthen bilateral energy cooperation and infrastructure development.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20999', 'image' => '20240614122519_20240613112209_20240223021605_banglad.jpg', 'article_date' => '2024-06-14 12:24:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21272', 'article_category_id' => '1', 'title' => 'CIB Arrests One more in Connection with Hyperfund Scam ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to CIB Spokesperson and Information Officer, Superintendent of Police, Hobindra Bogati, the second person arrested over the scam is Srikant Bhandari. He was apprehended from Rukum on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the CIB apprehended Nanu Ghimire aka Kajal from Lalitpur over her alleged involvement in duping Nepalis in the scam. Till date, the CIB has received complaints from 56 people of fraud over Rs 79.5 million in the scam. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the CIB says, it has been preparing to issue a red corner notice through Interpol against those against whom complaints have been filed by the alleged victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CIB has appealed to those duped in the scam to register a complaint at the CIB. It has also provided an online space for the registration of the complaint. One can visit the official website of CIB https://cib.nepalpolice.gov.np and lodge a complaint at cib_spokesperson@nepalpolice.gov.np or cib@nepalpolice.gov.np featured on the site. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hyperfunding is the fundraising of large sums of money in a brief campaign by a company that directly targets consumers or investors via the Internet. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20998', 'image' => '20240614114204_20190923103804_cib-nepal 2.jpg', 'article_date' => '2024-06-14 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21271', 'article_category_id' => '1', 'title' => 'National ID Card Mandatory for Social Security Allowance ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance. It will be effective in 28 districts from July 16 as per the recent Cabinet decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With this decision, the district administration offices have been ovwecrowded by those in need of the ID card. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at National ID Card and Registration Department, Yubraj Kattel, shared that the scheme would be enforced from July 16 even for the renewal of social security scheme in 28 districts. The concerned district administration offices were mobilizing additional resources at local levels for the distribution of national ID cards, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The districts implementing this provision are Jhapa, Rautahat, Rupandehi, Morang, Sarlahi, Kapilvastu, Sunsari, Kathmandu, Dang, Udayapur, Bhaktapur, Banke, Saptari, Lalitpur, Bardiya, Siraha, Sindhuli, Surkhet, Dhanusha, Makwanpur, Kailali, Mahottari, Chitwan, Kanchanpur, Bara, Kaski, Parsa, and Tanahu. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The department launched the distribution of national ID card since the past four years in 73 districts. On Wednesday, the department however issued a notice, informing that the people above 90 years and those living with disabilities need not produce national ID cards while receiving social security allowance. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20997', 'image' => '20240614112515_social.jpg', 'article_date' => '2024-06-14 11:08:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">June 16: The Nepal Stock Exchange (NEPSE) reported the loss of 17.04 points or 0.80% on Sunday, the first trading day of the week. The index closed at 2095.25, down 17.04 points or 0.80% from the previous trading day. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">A total of 13,223,884 units of shares were traded on the NEPSE through 71,997 transactions. The total turnover for the day was Rs 5.47 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Nepal Finance Limited (NFS) was the top traded company with a turnover of Rs 30 crore. NFS also saw the highest gain of the day, rising 10%. Manakamana Smart Laghubitta Bittiya Sanstha Limited (MKLB) was the second-biggest gainer, its share price increasing by 9.09%.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Bhagawati Hydropower Development Company Limited (BGWT) was the biggest loser of the day, with its share price falling 10% to Rs 1017.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">All sector indices except for the Hotels and Tourism Index closed in the red. The Development Bank Index saw the biggest decline, falling 1.20%. The Hotels and Tourism Index, on the other hand, rose 0.04%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21012', 'image' => '20240616035512_collage (12).jpg', 'article_date' => '2024-06-16 15:54:05', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '21285', 'article_category_id' => '1', 'title' => 'Majority of Provincial Governments Downsize Budget', 'sub_title' => '', 'summary' => 'KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">BIJAY DAMASE</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: Most of the provinces have downsized their budgets due to the decision of the federal government to reduce grants. The state governments' ability to expand their budgets has been significantly affected after the federal government announced to reduce subsidies.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In the current fiscal year (FY) 2080/81, the federal government allocated Rs 105.6 billion in grants to all seven provinces. However, for the upcoming fiscal year 2081/82, the allocation has been reduced to Rs 96.45 billion. This reduction has impacted the provincial governments' budget allocations.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">On Saturday, the state governments announced their budgets for the upcoming fiscal year 2081/82. Except for Bagmati and Sudurpaschim provinces, the budget size of the provincial governments for the next fiscal year has decreased compared to the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Ram Bahadur Magar, Economic Affairs Minister of the Koshi Province government, stated that the federal government's grants has decreased and the state has not met its revenue collection target, leading to a reduced budget size. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"A significant grant from the center has decreased. We could not propose a large budget this time because our internal revenue is weak," he said in a conversation with New Business Age. The federal government provided Rs 16.11 billion rupees in grants to this province for the current year, but only Rs 14.54 billion have been allocated for the next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh Province has also reduced its budget size for the next year due to the grant cuts. The federal government has allocated Rs 11.35 billion for Madhesh Province this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki province faces a similar situation, with its budget affected by the decline in federal grants. Gandaki received Rs 13.6 billion in federal grants this year but will receive only Rs 12.58 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini's subsidy allocation has decreased from Rs 15.38 billion this year to Rs 14.1 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali Province will also have a smaller budget next year due to federal grant cuts. It received Rs 16.27 billion this year but will receive only Rs 16.3 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Despite the decrease in federal grants, Sudurpaschim and Bagmati provinces have increased their budget sizes. Sudurpaschim will receive a central grant of Rs 13.83 billion next year, down from Rs 14.42 billion this year. Bagmati, which received Rs 15.81 billion in federal grants this year, will get only Rs 14.7 billion next year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The federal government distributes equalization, conditional, special, and supplementary grants to provinces and local levels. These sub-national governments also receive resources from revenue sharing. The resources from revenue distribution to state and local levels have also been reduced. The federal budget states that these two levels of government will receive Rs 159 billion from revenue distribution next year, down from Rs 173 billion allocated this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Binay Kumar Mishra, Assistant Professor of the Department of Public Policy at Kathmandu University, commented that the significant reduction in grants to provincial governments will impact the size of next year's budgets. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"The government made a mistake by cutting conditional and equalization grants. This will impact the socio-economic sectors of the provinces," he told New Business Age.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:13.5pt"><span style="font-family:"Times New Roman","serif"">Provincial Budgets</span></span></strong></span></span></p> <p><strong><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi</span></span></span></span></strong></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Koshi has announced a budget of Rs 35.27 billion for the upcoming year, down from Rs 36.24 billion this year. Economic Affairs Minister Ram Bahadur Magar attributed the reduction to decreased federal grants and lower-than-expected internal revenue. The province has prioritied infrastructure development, agriculture, and tourism, with Rs 10.41 billion allocated for road infrastructure and Rs 2.67 billion for industry, commerce, and cooperatives. The budget for free treatment services for children under 10, introduced by the previous government, has been cut. The province will celebrate 2082 as Tourism Year and has allocated funds for local income programs and various festivals.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Madhesh</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Bharat Prasad Sah announced a budget of Rs 43.89 billion for the next year, slightly down from Rs 44.11 billion this year. The budget allocates Rs 16.07 billion for current expenses and Rs 27.89 billion for capital expenses. The province has also allocated significant funds to the Ministry of Physical Infrastructure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Jagannath Thapalia presented a budget of Rs 67.54 billion for the upcoming year, up from Rs 62.77 billion this year. The budget focuses on roads, agriculture, and tourism, with significant allocations for road construction and agricultural modernization.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Gandaki</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Dr Takaraj Gurung's budget includes provisions for branding domestic liquor and legalizing marijuana cultivation. The budget has also allocated funds to local governments and for tourism development, including bicycle lanes and homestay programs. The total budget for next year is Rs 32.97 billion, slightly down from Rs 33.42 billion this year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Lumbini</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs and Planning Minister Chet Narayan Acharya announced a budget of Rs 38.97 billion for the upcoming year, down from Rs 40.47 billion this year. The budget prioritizes infrastructure, technology and education and has allocated significant funds for Lumbini Technical University.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Karnali</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Mahendra KC presented a budget of Rs 31.41 billion for the next year, down from Rs 33.37 billion this year. The budget focuses on economic prosperity, social justice, poverty alleviation, job creation, and entrepreneurship.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Sudurpaschim</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Economic Affairs Minister Surendra Bahadur Pal announced a budget of Rs 31.62 billion, up from Rs 29.26 billion this year. The budget includes provisions for increasing state income through revised tax rates and formalizing private businesses.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21011', 'image' => '20240616023437_budget.jpg', 'article_date' => '2024-06-16 14:33:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '21284', 'article_category_id' => '1', 'title' => 'Advance Income Tax on Food Grains Results in Piling up of 400 Containers at Customs', 'sub_title' => '', 'summary' => 'KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">KATHMANDU: large number of containers carrying pulses, grains, and other food items have been held up at customs due to importers failing to pass customs clearance. This situation has arisen following the government's introduction of an advance income tax (AIT) on food imports through the Finance Bill for the fiscal year (FY) 2081/82. The bill imposes advance income tax ranging from 1.5% to 10% on commercial food imports. Effective from May 28, the tax is set at 2% for rice and 10% for pulses, up from a previous maximum of 5%.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Subodh Kumar Gupta, president of the Nepal Rice, Oil, and Lentil Association, reported that approximately 400 containers belonging to 35 food industries have been stopped at the customs. "The new tax has increased the cost of importing food grains, leading businessmen to hold pulses and other grains at customs without completing the clearance process," Gupta said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The association protested against the government's decision, arguing that the heavy advance income tax on daily consumables is unreasonable. Containers from 35 industries, including Shivshakti Agro, Nepal Agro, Triveni Dal Mill, Mahaveer Agro Processing, and Namaste Agro, have been halted at various customs points. Sushil Sharma, the information officer at Birgunj Dry Port Customs, noted that around 130 containers are stuck at Birgunj alone.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Half a dozen importers, including Triveni Dal Udyog, Shivshakti Agro, and Nepal Agro, have not passed the customs clearance," he stated.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Anand Gupta, information officer of the Inland Revenue Department, told New Business Age that the increased advance income tax will no longer be refundable as before. Stakeholders worry that this non-refundable provision may further increase the price of imported food.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">"Under the new legal system, if we import pulses worth Rs 10 million, we have to pay Rs 1 million as advance income tax," said Gupta. "This will significantly impact both businessmen and ordinary consumers." </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The government argues that the increased advance income tax rate aims to protect domestic production. Finance Minister Barshman Pun has stated in various forums, including Parliament, that the hike in advance income tax is justified because the goods subject to the tax are produced in sufficient quantities within the country. He believes this policy will encourage local production. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">However, businessmen argue that relying solely on domestic products is not feasible for running the food industry at full capacity. The new Finance Bill imposes a 10% advance income tax on daily consumables such as potatoes, onions, lentils, and pulses. Similarly, a 2.5% advance income tax is imposed on the import of rice, flour, and other similar items. Businessmen claim that the high advance income tax on vegetables, potatoes, onions, and fish will lead to skyrocketing prices, adversely affecting common consumers. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bivor Agarwal, a member of the association, remarked that the government policy has made food grains more expensive. "Now, rice has become more expensive by Rs 100 per bag, and pulses and grains have increased by Rs 10 to 15 per kg," he said.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal imports paddy and rice from India, while pulses and grains come from countries such as Canada, the USA, and Australia.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21010', 'image' => '20240616020712_1642924016.Bhansar-aryat-niryat.jpg', 'article_date' => '2024-06-16 14:06:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '21283', 'article_category_id' => '1', 'title' => 'International Tourism Expo Concludes in Kathmandu', 'sub_title' => '', 'summary' => 'KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The Nepal International Tourism Expo, organized in Kathmandu with the aim of promoting tourism at the international level, concluded on Saturday. The two-day fair organized by Summit Events Markets with the support of Nepal Tourism Board and Kathmandu Metropolitan City (KMC), had started on Friday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sunita Dangol, Deputy Mayor of KMC, said during the closing ceremony of the fair that the continuation of such programmes is necessary for the promotion of tourism in Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">She further promised that the KMC will always support and help in the promotion of heritage and tourist areas in Kathmandu. Dangol asked the participants of the fair to go to their respective countries and inform them about the tourism destinations of Nepal. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Vice chair of Nepal Tourism Board Ram Prasad Sapkota mentioned that the fair helped to promote Nepal's tourism in the international market. He said that the efforts of the private sector have been commendable. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The tourism expo also had the participation of Malaysia Tourism Board and Bihar Tourism Board of India. There were stalls of 150 tourism enterprises from 16 countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The managing director of Summit Events Markets, Bishnu Pandey informed that more than five thousand people attended the two-day expo. A group discussion related to tourism promotion was held at the fair. With the successful completion of the first expo organized by the private sector, the organizers have also announced that the second edition will be held on May 30 and 31 next year. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21009', 'image' => '20240616125300_tourism-expo-nepal.jpg', 'article_date' => '2024-06-16 12:52:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '21282', 'article_category_id' => '1', 'title' => 'Air Pollution Linked to 135 Million Premature Deaths: Study', 'sub_title' => '', 'summary' => 'SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">SINGAPORE: Pollution from man-made emissions and other sources like wildfires have been linked to around 135 million premature deaths worldwide between 1980 and 2020, AFP reported citing a study conducted by a university in Singapore.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather phenomena like El Nino and the Indian Ocean Dipole worsened the effects of these pollutants by intensifying their concentration in the air, Singapore's Nanyang Technological University (NTU) said, unveiling the results of a study led by its researchers last week.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The tiny particles called particulate matter 2.5, or "PM 2.5", are harmful to human health when inhaled because they are small enough to enter the bloodstream, AFP reported. They come from vehicle and industrial emissions as well as natural sources like fires and dust storms.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The fine particulate matter "was associated with approximately 135 million premature deaths globally" from 1980 to 2020, the university said in a statement on the study, published in the journal Environment International.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">It found that people were dying younger than the average life expectancy from diseases or conditions that could have been treated or prevented, including stroke, heart and lung disease, and cancer.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Weather patterns increased the deaths by 14 percent, the study found.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the study, Asia had the "highest number of premature deaths attributable to PM 2.5 pollution" at more than 98 million people, mostly in China and India.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Pakistan, Bangladesh, Indonesia and Japan also had significant numbers of premature deaths, ranging from 2 to 5 million people, it added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">AFP reported that the study is one of the most expansive till date on air quality and climate, using 40 years of data to give a big-picture view of the effects of particulate matter on health.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"Our findings show that changes in climate patterns can make air pollution worse," AFP quoted Steve Yim, an associate professor at NTU's Asian School of the Environment who led the study, as saying.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"When certain climate events happen, like El Nino, pollution levels can go up, which means more people might die prematurely because of PM 2.5 pollution," Yim added.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"This highlights the need to understand and account for these climate patterns when tackling air pollution to protect the health of the global population."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to AFP, the Singapore researchers studied satellite data from the US National Aeronautics and Space Administration (NASA) on the levels of particulate matter in the Earth's atmosphere.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">They analysed statistics on deaths from diseases linked to pollution from the US-based Institute for Health Metrics and Evaluation, an independent research centre.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Information on weather patterns during the period was taken from the National Oceanic and Atmospheric Administration in the United States.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The study focused only on the effects of ordinary weather patterns on air pollution, Yim said, adding that the impact of climate change will be the subject of future studies.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Researchers from universities in Hong Kong, Britain and China were also involved in the study.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The World Health Organization has said the "combined effects of ambient air pollution and household air pollution" are associated with 6.7 million premature deaths worldwide every year.</span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21008', 'image' => '20240616113718_20240429021245_Untitled.jpg', 'article_date' => '2024-06-16 11:36:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '21281', 'article_category_id' => '1', 'title' => 'Sikta Irrigation Project Achieves 92 Percent Physical Progress in Current FY ', 'sub_title' => '', 'summary' => 'RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">RANJHA: The Sikta Irrigation Project has witnessed 92 per cent physical progress in the current fiscal year 2023/24. The national pride project aims to provide irrigation facility to 42,766 hectares of land of six rural municipalities in Kohalpur municipality and Nepalgunj sub-metropolitan city in Banke district. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Sandesh Poudel, engineer of the project, shared that out of Rs 830 million allocated for the Sikta Irrigation Project for the current fiscal year, over Rs 760 million has been spent as of December, 2023. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The budget ceiling has been increased for the Sikta Irrigation Project in the upcoming fiscal year 2024/25. Over Rs 1.6 billion has been allocated for the project for the upcoming fiscal year, Poudel shared. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Works relating to Daduwa section canal is underway at present, he said. The project initiated in FY 2005/06 is expected to be completed by FY 2032/33 as per the revised master plan. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The total cost of the project in accordance with the revised master plan is over Rs 52 billion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The major challenge faced by the project for timely completion is budget deficit, besides problems in distribution of compensation for those whose land were acquired for the project. -- RSS </span><br /> </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21007', 'image' => '20240616110753_sikta.jpg', 'article_date' => '2024-06-16 11:07:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '21280', 'article_category_id' => '1', 'title' => 'NOC Slashes Fuel Prices', 'sub_title' => '', 'summary' => 'The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">June 15: The Nepal Oil Corporation (NOC) has reduced prices of petroleum products. According to the NOC, the price of petrol has been cut by Rs 3 per litre, while the prices of diesel and kerosene have been lowered by Rs 1 per litre.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">A meeting of the NOC Board of Directors decided to implement these price reductions, which took effect from last night. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">With the price cut, petrol will now cost Rs 162.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, the price of petrol is set at Rs 164 per litre. In Kathmandu, Pokhara, and Dipayal, petrol will be sold at Rs 165 per litre. </span></span><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Similarly, diesel and kerosene will cost Rs 149.5 per litre in Charali, Biratnagar, Janakpur, Amlekhgunj, Bhalbari, Nepalgunj, Dhangadhi, and Birgunj.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif""> In Surkhet and Dang, these fuels will be priced at Rs 151 per litre. In Kathmandu, Pokhara, and Dipayal, diesel and kerosene will be available at Rs 152 per litre, according to the NOC.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-16', 'modified' => '2024-06-16', 'keywords' => '', 'description' => '', 'sortorder' => '21006', 'image' => '20240616081654_collage (34).jpg', 'article_date' => '2024-06-16 08:15:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '21279', 'article_category_id' => '1', 'title' => 'PM Dahal Inaugurates 400-kV Hetauda Substation', 'sub_title' => '', 'summary' => 'Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif"> June 14: Prime Minister Pushpa Kamal Dahal 'Prachanda' inaugurated the 400-kV Hetauda Substation at a programme organized by the Nepal Electricity Authority (NEA), in Hetauda, Makawanpur district.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Located at Thana Bharyang in Hetuda Sub-Metropolitan City-11, the Hetauda Substation is Nepal's third largest automatic substation utilizing Gas Insulated System (GIS) technology. It began operations last Friday, enhancing the country's power transmission capabilities.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In addition to the 400-kV substation, two other substations of 220 kV and 132/11 kV capacities have also been constructed at Thana Bharyang by the Nepal-India Electricity Transmission and Trade Project. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These substations also started operations last Friday, further bolstering the region's power infrastructure.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The GIS-based Dhalkebar substation is currently the largest in Nepal, followed by the Inaruwa substation, with Hetauda being the third. </span></span><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">These developments aim to ensure a reliable and high-quality power supply across the east-west corridor of Nepal and facilitate electricity trade with India.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">With the Hetauda substation operational, infrastructure capable of transmitting around 4,000 megawatts of electricity is now in place. This is expected to significantly strengthen domestic electricity supply and expand electricity trade with India. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The Hetauda-Dhalkebar-Inaruwa 400-kV transmission line, once fully completed, will enable the transmission of this power across the east-west axis from Dhalkebar.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Furthermore, a 400-kV double-circuit transmission line, to be constructed from Ratmate in Nuwakot with assistance from the US Millennium Challenge Corporation (MCC), will be connected to the Hetauda substation. The necessary infrastructure at Hetauda for this connection has already been established.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The expansion of the Hetauda, Dhalkebar, and Inaruwa 400-kV substations was initiated through a joint investment by the Government of Nepal and NEA, under the National Electricity Development Decade program. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">The contract for constructing the 220/132/11-kV Hetauda substation was signed in December 2018, funded by the Nepal-India Electricity Transmission and Trade Project, government and NEA investments, and a World Bank soft loan. The total estimated cost of the Hetauda substation project is Rs 3 billion. (RSS) </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21005', 'image' => '20240614041443_collage (11).jpg', 'article_date' => '2024-06-14 16:13:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 8 => array( 'Article' => array( 'id' => '21278', 'article_category_id' => '1', 'title' => 'Where will the Govt Spend Rs 76 Billion Allocated under the Heading of Miscellaneous Finance?', 'sub_title' => '', 'summary' => 'KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Ministry of Finance has allocated a larger amount under various headings in next year's budget compared to the current fiscal year. Approximately Rs 76 billion have been earmarked under the 'Miscellaneous Finance' heading for the next fiscal year, intended for earthquake reconstruction and hosting foreign dignitaries. In the current year, an estimated Rs 57.369 billion will be spent under miscellaneous headings.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This budget allocation method allows the government discretionary spending without allocation for specific project, which can be seen as lacking financial discipline. The Integrated Economic Indicators and Classification 2074 issued by the Financial Comptroller General Office discourages budgeting through various sources without clear plans. If existing plans are underfunded, additional funds can be drawn from the miscellaneous heading. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The ministry has also allocated Rs 75.083 billion as miscellaneous for the fiscal year 2081/82. This includes Rs 10 million for special visits, Rs 15 million for hosting delegations, Rs 5.083 billion for land compensation for government projects, Rs 10 million for financial aid, Rs 300 million for customs refunds, Rs 300 million for building purchases, construction, and improvements, Rs 5.3 million for infrastructure, and Rs 62 million rupees for various fees and payments.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, Rs 25.98 billion have been allocated for miscellaneous expenses, Rs 19.8 billion rupees for disaster relief and rehabilitation, and Rs 8.3 billion for development programs under different headings. Additionally, Rs 3 billion are set aside for federal structure and infrastructure development programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry has allocated Rs 4.015 billion under miscellaneous headings to address complaints about the lack of budget for incomplete projects. It has also reserved Rs 2 billion from various sources for the Gandaki Economic Triangle Project, with clear criteria being established for its expenditure.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Commenting on this, Joint Secretary of the Ministry of Finance, Uttar Kumar Khatri, stated that the budget includes significant allocations from various sources, ranging from earthquake reconstruction to visits by foreign dignitaries. He emphasized that specific visits will be funded from different sources, including various types of financial assistance announced by the Council of Ministers.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Former Chief Secretary Bimal Koirala expressed concern over the increase in budget under this heading to Rs 76 billion, noting that this could lead to misuse due to the lack of clear guidelines for spending such funds. He stressed the importance of clearly defining the areas where these funds can be spent and ensuring proper management.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It seems that the Ministry of Finance has spent approximately Rs 310 million under the miscellaneous heading so far this year, and there are concerns that the increase to Rs 76 billion in various headings in the next year's budget could lead to misuse.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21004', 'image' => '20240614022003_20230313041732_1678585862.Clipboard28.jpg', 'article_date' => '2024-06-14 14:19:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '21275', 'article_category_id' => '1', 'title' => 'Fourth Living Standards Survey Indicates Rise in Youth Unemployment', 'sub_title' => '76.8 Percent Households Receive Remittances', 'summary' => 'KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: Government data indicates that unemployment has significantly increased in Nepal over the past three decades. According to the National Statistics Office, the unemployment rate reached 12.6 percent in the fiscal year 2079/80.Tthe unemployment rate was only 4.9 percent in the First Living Standards Survey conducted in the fiscal year 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Nepal Labor Force Survey for the fiscal year 2074/75 reported a slightly lower unemployment rate of 11.4 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Fourth Living Standards Survey highlights widespread youth unemployment, with the rate among 15 to 24-year-olds reaching 22.7 percent, up from 7.3 percent in 2052/53. The report underscores the difficulty young people face in finding employment opportunities within the country.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Hemraj Regmi, Deputy Chief Statistics Officer at the National Statistics Office, attributed the high youth unemployment rate to the lack of job opportunities, which drives many youths to seek work abroad. "The youth are going abroad due to the lack of job opportunities in the country," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report also notes that a significant portion of Nepal's labor force works as daily wage earners, indicating a lack of stable employment opportunities. Specifically, 64.9 percent of salaried workers are paid on a daily basis, while 28.7 percent receive monthly salaries, and 6.4 percent are employed on contract.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Due to the scarcity of domestic job opportunities, a large number of Nepalis have migrated abroad, and the remittances they send back have played a crucial role in bolstering the economy. As a result, the Living Standards Survey reports that 76.8 percent of households received remittances in the fiscal year 2079/80, up from 23.4 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The survey also indicates changes in the sources of remittances received by households. In 2079/80, 49.4 percent of households received remittances from countries other than India, while 21.3 percent received remittances from India. The proportion of households receiving domestic remittances was 29.3 percent, down from 44.7 percent in 2052/53.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Additionally, the report highlights an increase in non-communicable diseases, with conditions such as blood pressure, stomach-related issues, diabetes, and respiratory diseases showing higher prevalence rates.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The report further details that education sector expenditure averages Rs 29,742 per person per year, with significant variance between individuals below and above the poverty line.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">According to the survey, 20.27 percent of Nepal's total population still lives below the poverty line, down from 25.16 percent reported in the third survey. The poverty rates vary significantly by province, with the Far West having the highest poverty rate at 34.16 percent, and Bagmati the lowest at 12.59 percent.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Overall, the survey provides comprehensive insights into various aspects of Nepal's living standards, including access to education, health, and economic opportunities.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => 'survey, Nepal, living, standard, national, statistics, remittance, employment, data', 'description' => '', 'sortorder' => '21003', 'image' => '20240614015128_20210808022447_20210403032054_Foreign Employment.jpg', 'article_date' => '2024-06-14 13:49:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '21276', 'article_category_id' => '1', 'title' => 'Stakeholders Stress on Innovative Solutions to Turn Waste into Useful Resources', 'sub_title' => 'Nepal’s First Waste Management and Climate Conference Sets the Stage for a Sustainable Future', 'summary' => 'KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: Stakeholders have underscored the need to explore innovative solutions to turn waste into useful resources, promoting a circular economy.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event, the first-ever hosted by Nepal, was organized by the Confederation of Nepalese Industries (CNI), the Coca-Cola Foundation, the National Human Rights Commission (NHRC), Khaalisisi, Women for Human Rights (WHR), and CNIYEF, uniting key stakeholders to address Nepal’s waste management and climate challenges.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC brought together government officials, industry leaders, environmental experts, and community advocates to tackle critical issues related to waste management, climate change, and environmental sustainability.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">"The WMCC is a milestone event for Nepal," said Carlos Pagoaga, president of the Coca-Cola Foundation. "It reflects our shared commitment to creating sustainable solutions for the environmental challenges we face."</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Issuing a recent statement, the organisers said that the key component of the conference was the Mayor's Forum, which facilitated dialogue between local government officials and industry leaders on effective municipal waste management strategies. Mayors from Lalitpur, Dhangadi, Dhankuta, Budhanilkantha, and the deputy-mayor from Chandragiri participated in the discussion, the statement added.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The conference explored innovative solutions to turn waste into useful resources, promoting a circular economy, said the organisers. It discussed issues like carbon emissions, plastic pollution, air pollution in Kathmandu, and the effects of climate change on the Himalayas, including Mount Everest. Presentations highlighted innovative waste management ideas from GIZ and Nepal's commitments to the Paris Agreement.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">“This conference is a significant step towards empowering communities, especially women, to take part in climate action,” said Kabita Pandey, president of Women for Human Rights (WHR). “Together, we can drive meaningful change.”</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">House of Representatives members Sobita Gautam, Toshima Karki, and Uday Rana emphasized the crucial need for collaborative efforts in tackling environmental challenges. Their insights highlighted the power of united action in fostering sustainable solutions.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">Nearly 1,000 delegates from 600 organizations across 33 districts and 5 countries attended the event, highlighting the widespread interest and commitment to advancing waste management and climate action in Nepal.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">According to the organisers, the WMCC served as a national platform, uniting government officials, parliamentarians, diplomats, and industry experts. It fostered collaboration and policy dialogue to advance Nepal's waste management and climate agenda, driving tangible outcomes for a cleaner, more sustainable future.</span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif"">The event concluded with concrete commitments from various stakeholders, setting a clear roadmap for future actions. The collaboration and innovative ideas presented have laid the groundwork for significant improvements in waste management and environmental policies, ensuring a lasting impact on Nepal’s sustainability efforts, added the statement.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21002', 'image' => '20240614020951__RD47677 (1).jpg', 'article_date' => '2024-06-14 14:07:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '21274', 'article_category_id' => '1', 'title' => 'Exports of Handicraft Products Exceed Rs 3.26 Billion in Current FY', 'sub_title' => '', 'summary' => 'KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: Nepal exported handicraft items exceeding Rs 3.26 billion in the past ten and half months. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the Federation of Handicraft Associations of Nepal (FHAN), felt items make up the highest portion of exports.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Federation’s Director General, Uttam Prasad Devkota, told the RSS that Nepal exported handicraft items made of felt worth over Rs 1.28 billion as of May 28 of the current fiscal year that had started on July 17, 2023.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Products made of Allo (Himalayan nettle), bamboo, pote (glass beads), animal bones and horns, ceramic, Dhaka, metal, garments, papers, silk, silver, wood, wool, stone, plants, pashmina, and so on are supplied from Nepal to various countries including India, China, the US, Germany, Denmark, the Netherlands, Britain, Australia and Singapore. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">FHAN said there is a growing demand for advanced handicrafts than traditional ones in international markets. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '21000', 'image' => '20240614010800_20201001053942_1601506595.Clipboard12.jpg', 'article_date' => '2024-06-14 13:07:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '21273', 'article_category_id' => '1', 'title' => 'The Nepal-Bangladesh Joint Mechanism Meeting Postponed', 'sub_title' => '', 'summary' => 'KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">KATHMANDU: The high-level joint mechanism meeting between Nepal and Bangladesh regarding energy trade and investment has been postponed. Originally scheduled to be held in Pokhara on June 23 and 24, the meeting was postponed after the Bangladesh government requested for rescheduling it.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">There are two joint mechanisms between the two countries: a Joint Secretary-level Joint Working Group (JWG) and a Secretary-level Joint Steering Committee (JSC) under the Ministry of Energy. This year's meeting, which was to be held in Nepal, follows last year's meeting in Bangladesh.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Navin Singh, spokesperson for the Ministry of Energy, Water Resources, and Irrigation, said, "The date had to be postponed after the Bangladesh energy secretary-level team indicated a potential delay. We are awaiting formal confirmation from Bangladesh, but we expect the meeting to take place by early July."</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Government officials in Nepal have indicated that the meeting aims to finalize an agreement for the sale of 40 megawatts of electricity from Nepal to Bangladesh. Additionally, discussions are expected on a joint venture agreement for the construction of the Sunkoshi III hydropower project, which has a capacity of 683 megawatts.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Earlier this week, Bangladesh's procurement committee, chaired by Finance Minister Abul Hasan Mahmud Ali, decided to purchase 40 megawatts of electricity from Nepal for a period of 5 years. The purchase price is set at 8.17 Bangladeshi taka (equivalent to Rs 9.30) per unit, as reported by Bangladeshi media. However, the transmission line fee through India has yet to be determined.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Following the Nepal-Bangladesh meeting, a tripartite agreement between Nepal, Bangladesh, and India will be necessary to export electricity from Nepal to Bangladesh through India's transmission lines. India has already given approval for this tripartite agreement.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The Sunkoshi III project, which will be located on the Sunkoshi River in the border area of Ramechhap and Kavrepalanchok districts, has been a topic of discussion for joint investment by both countries.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">During last year’s meeting in Pataukhali, Bangladesh, the two countries had agreed to sign a Memorandum of Understanding (MoU) between the Nepal Electricity Authority and the Bangladesh Power Development Board for the Sunkoshi III project within 6 months. Although the MoU was not signed within the agreed timeframe, government officials from both countries are working to finalize it. Both Nepal and Bangladesh are interested in involving Indian companies in the joint venture.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">The meeting was postponed amid ongoing efforts by Nepal and Bangladesh to strengthen bilateral energy cooperation and infrastructure development.</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20999', 'image' => '20240614122519_20240613112209_20240223021605_banglad.jpg', 'article_date' => '2024-06-14 12:24:50', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '21272', 'article_category_id' => '1', 'title' => 'CIB Arrests One more in Connection with Hyperfund Scam ', 'sub_title' => '', 'summary' => 'KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">KATHMANDU: The Central Investigation Bureau (CIB) of Nepal Police has arrested one more person over his alleged involvement in the Hyperfund scam to which Nepalis at home and abroad have allegedly lost millions of rupees. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to CIB Spokesperson and Information Officer, Superintendent of Police, Hobindra Bogati, the second person arrested over the scam is Srikant Bhandari. He was apprehended from Rukum on Wednesday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Earlier, the CIB apprehended Nanu Ghimire aka Kajal from Lalitpur over her alleged involvement in duping Nepalis in the scam. Till date, the CIB has received complaints from 56 people of fraud over Rs 79.5 million in the scam. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As the CIB says, it has been preparing to issue a red corner notice through Interpol against those against whom complaints have been filed by the alleged victims. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">CIB has appealed to those duped in the scam to register a complaint at the CIB. It has also provided an online space for the registration of the complaint. One can visit the official website of CIB https://cib.nepalpolice.gov.np and lodge a complaint at cib_spokesperson@nepalpolice.gov.np or cib@nepalpolice.gov.np featured on the site. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Hyperfunding is the fundraising of large sums of money in a brief campaign by a company that directly targets consumers or investors via the Internet. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20998', 'image' => '20240614114204_20190923103804_cib-nepal 2.jpg', 'article_date' => '2024-06-14 11:41:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '21271', 'article_category_id' => '1', 'title' => 'National ID Card Mandatory for Social Security Allowance ', 'sub_title' => '', 'summary' => 'KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance.', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">KATHMANDU: The government has decided to make the national identity card mandatory for receiving social security allowance. It will be effective in 28 districts from July 16 as per the recent Cabinet decision. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">With this decision, the district administration offices have been ovwecrowded by those in need of the ID card. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Director General at National ID Card and Registration Department, Yubraj Kattel, shared that the scheme would be enforced from July 16 even for the renewal of social security scheme in 28 districts. The concerned district administration offices were mobilizing additional resources at local levels for the distribution of national ID cards, he added. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The districts implementing this provision are Jhapa, Rautahat, Rupandehi, Morang, Sarlahi, Kapilvastu, Sunsari, Kathmandu, Dang, Udayapur, Bhaktapur, Banke, Saptari, Lalitpur, Bardiya, Siraha, Sindhuli, Surkhet, Dhanusha, Makwanpur, Kailali, Mahottari, Chitwan, Kanchanpur, Bara, Kaski, Parsa, and Tanahu. </span></span></span></p> <p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The department launched the distribution of national ID card since the past four years in 73 districts. On Wednesday, the department however issued a notice, informing that the people above 90 years and those living with disabilities need not produce national ID cards while receiving social security allowance. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-06-14', 'modified' => '2024-06-14', 'keywords' => '', 'description' => '', 'sortorder' => '20997', 'image' => '20240614112515_social.jpg', 'article_date' => '2024-06-14 11:08:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
