April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to…
April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to…
April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely…
April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two…
April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to…
April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding.…
April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent…
April 1: The government has increased public transportation fares following the rise in prices of petroleum…
April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal…
March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the…
March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15…
March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India.…
March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s…
March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY…
March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a…
March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction…
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Due to the negligence of the Chinese government in the implementation of the agreement, citrus fruits could not be exported to China. Concerned authorities said that even though Nepal completed all the procedures to export citrus fruits to China in trial phase last year, Beijing did not show any interest in implementing the agreement on the pretext of growing Covid-19 cases.</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"">Secretary at the Ministry of Agriculture and Livestock Development, Govinda Prasad Sharma said that China has not accepted citrus fruits from Nepal even though Nepal has met all the criteria including quarantine, proper management of diseases, and packaging. According to Sharma, Nepal has already registered the producers’ farms and also facilitated coordination between orange producers, traders and Chinese agents for the exports. However, the process did not move forward as the Chinese government did not agree for the export.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Sahadev Humagain, head of the Center for Plant Quarantine and Pesticide Management, the process of export has not moved forward due to China’s reluctance citing the Covid-19 pandemic. Nepal completed all its preparations last year itself. Humagain said if China had agreed, exports of citrus fruits to China would have already started since last 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"">Earlier, a similar agreement was signed between the two countries in 2012. The agreement at that time had a clause which stated that the fruits grown in disease-free, insect-free orchards. Exporters were expecting the trade to be easy this time as the fruits were required to be free from diseases and insects as mentioned in the agreement two years ago. However, China's tendency to negotiate and neglect implementation is seen to have complicated export procedures.</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"">After the implementation of Sweet Orange Super Zone in Nepal in the fiscal year 2073/74, the number of farmers cultivating oranges has increased. Varieties of citrus fruits are produced mostly in the hill districts of Nepal including Ramechhap, Sindhuli, Doti, Dandeldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta and Palpa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the National Citrus Development Program, Nepal produces about 177,000 metric tons of oranges, 39,500 metric tons of lemons and 43,000 metric tons of sweet oranges annually. Although citrus fruits are grown in about 56 districts of Nepal, commercial production is limited to 44 districts. Nepal's internal production meets 80 percent of domestic demand. The remaining 20 percent is imported from abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14776', 'image' => '20220403044004_tangarines.jpg', 'article_date' => '2022-04-03 16:39:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15033', 'article_category_id' => '1', 'title' => 'NOC says Fuel Supply will Ease from Today Afternoon', 'sub_title' => '', 'summary' => 'April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned oil monopoly made such appeal after reaching an understanding with dealers to resume the distribution of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NOC assured that the supply of petroleum products will become normal from Sunday afternoon after the two sides reached an understanding on Saturday evening (April 2).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson of NOC Pushkar Kumar Karki said that the petroleum dealers from across the country, including those in the Kathmandu valley, have already started demanding fuel from the NOC. He said that the dealers have started collecting fuel since 8 am today morning (April 3) and the supply of petroleum products is expected to ease from 3 pm.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Supply of petroleum products from different depots has already started from early morning. It might take some time to unload the fuel. The distribution of petroleum products will ease after 3 pm,” said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NOC, dealers from Kathmandu to Gandaki, Lumbini, Biratnagar and Amlekhgunj have already started collecting fuel from this morning. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu valley faced shortage of petrol and diesel on Saturday after the petrol dealers caused obstruction in transportation of fuel demanding a hike in commission a few days ago. Fearing shortage of petroleum products, a large number of people were seen in serpentine queue at fuel stations on Saturday.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14775', 'image' => '20220403030059_petrol-pump.jpg', 'article_date' => '2022-04-03 15:00:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15031', 'article_category_id' => '1', 'title' => 'Nepal, India Agree to Take Ahead Pancheshwor Project ', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides agreed to advance the project after they held the bilateral talks between visiting Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi in India on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even the detailed project report (DPR) has not be prepared despite the passage of two and half decade since the two countries signed the Mahakali Treaty. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Prime Minister Modi termed the Pancheshwor project a 'game changer project' and expressed commitment that the long-awaited project would be advanced hereafter. This announcement has given hope that DPR would be prepared now. The two countries were supposed to prepare the DPR within six months after signing the Mahakali Treaty.</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"">However, issues over sharing of water from the Mahakali River between Nepal and India has not been settled yet, according to Ministry of Energy, Water Resources and Irrigation. As per the Mahakali Treaty, both countries have agreed on five percent of water to be released for the livelihood of upper basin.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian PM reiterated that the Pancheshwor project stalled since a long time would be expedited. The Pancheshwor project is to be constructed with the joint investment of Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mega hydropower project aims to produce 1,480 MW electricity to benefit both the countries. </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"">Modi further said discussion was held on multi-dimensional relations between India and Nepal during the meeting with PM Deuba-led Nepali delegation. He also shared that both countries were ready to build partnership and cooperation in the energy sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other issues relating to energy and water resources including India assisting Nepal with the purchase of hydropower produced in Nepal and promotion of clean energy also figured in the high level meeting. -- RSS</span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14773', 'image' => '20220403010542_ROS_KTM_PMDEUBA_INDIA_VISIT_MODI_PRESSMEET.jpg', 'article_date' => '2022-04-03 13:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15030', 'article_category_id' => '1', 'title' => 'Nepal, India sign 4 Agreements during PM Deuba's State Visit', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.</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 two countries signed the agreements following a meeting between Prime Minister Deuba and his Indian counterpart Narendra Modi at Hyderabad House in New Delhi on Saturday (April 2).</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 agreements include Nepal's participation in international solar energy alliance, Indian technical support for Nepal's railway service sector, Indian assistance for fuel supply and technical support in the form of exchange of experts between Nepal Oil Corporation and Indian Oil Corporation. </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"">According to informed sources, the prime minister said that the two countries also discussed issues related to border disputes and their resolution through bilateral mechanism.</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"">“We discussed the border dispute and I urged Mr Modi to resolve the issue through bilateral mechanism,” the source quoted Deuba as saying.</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"">Meanwhile, prime ministers of both the countries jointly launched the Kurtha-Jaynagar cross-border rail link on the occasion. Similarly, PM Deuba and his Indian counterpart also inaugurated 132-KV Solu Corridor Transmission Line. The transmission line was constructed in Nepal with India's loan assistance of Rs 3.20 billion. </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"">During the meeting Prime Minister Deuba reportedly urged Modi to avail three additional air entry routes to Nepal.</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"">PM Deuba said during a press conference after the signing ceremony that his state visit was fruitful in holding discussion on various aspects of Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deuba also lauded the progress achieved by India under Prime Minister Modi's leadership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Praising the effective management carried out by India to control COVID-19 pandemic, PM Deuba extended gratitude towards India for its support to Nepal's battle against COVID-19. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14772', 'image' => '20220403111308_Flag-Pins-Nepal-India.jpg', 'article_date' => '2022-04-03 11:12:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15028', 'article_category_id' => '1', 'title' => 'Production of Cement and Iron Rods Declines by 50 Percent as Power Cut Hits Industries', 'sub_title' => '', 'summary' => 'April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. ', '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"">April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. The cement and rod industries say that they are compelled to lower the production in the main season when there is high demand.</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"">Generally, Nepal imports electricity from India in winter. But this time, there is a shortage of electricity in the Indian market itself. Due to the shortage of coal, the production of electricity has declined and prices have skyrocketed in India. At present, the NEA cannot purchase electricity at previous rates, and therefore it has been submitting proposals to buy electricity at an increased rate. Despite this, the supply of electricity to the industries is not enough to meet the demands.</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"">President of the Confederation of Nepalese Industries (CNI) Vishnu Agrawal said that the industries are not getting regular supply of electricity. He says that NEA should ensure regular supply of quality electricity regardless of the fluctuation of rate. </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 problem in power supply might discourage both domestic as well as foreign investors. The cost of production has gone up. The government and Nepal Electricity Authority should be responsible to resolve it,” said Agrawal.</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"">Similarly, Tara Prasad Pokhrel, vice-president of Cement Manufacturers' Association of Nepal, said that the industries are facing 12-13 hours of load shedding. Pokhrel said, “On the one hand, there is load shedding and on the other hand, the industry which needs 6 MW of electricity is getting only 3 MW. The industries are on the verge of closure due to non-availability of electricity.” He also said that as the production and sales cycle deteriorates due to non-availability of electricity, bank interest increases and causes liquidity crisis.</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"">He said that there has been no regularity in power supply for the last two years. “Production had already started to take place after Covid-19 slump. The issues with energy are arising again when development work has already started to pick up pace,” said Pokhrel. He said that the electricity goes to waste during the rainy season and industries reach the verge of closure due to scarcity of electricity during the winter.</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"">Pokhrel, who is also the managing director of Agni Cement, said that cement producers have reduced production by 50 percent due to lack of electricity. Although the charge of electricity is constant, industrialists are not able to get electricity. Pokhrel suggested that the government to build reservoir-based projects to solve such problems in the long run.</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"">Hari Neupane, chairman of Ambe Group said the power cuts at the rolling mills caused a lot of problems. Stating that industries are not getting regular electricity for some time now, he said that the factories have cut production by 50 percent. “There is no power. Even if we get electricity supply, it is not regular. Cement and rod industries are in a tight spot due to this reason. The demand cannot be reciprocated with the supply.” He said that they are unable to meet the high demand of the market since the production is low.</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 Nepal Electricity Authority (NEA) claims that the electricity supply to the industries as per the demand is halted only when it does not get the electricity at the proposed rate. NEA spokesperson Suresh Bahadur Bhattarai said that electricity is not provided only when the bid is rejected. Bhattarai said, “There is no load shedding situation as the industrialists said. We provided electricity regularly on Wednesday as well.”</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 recent conflict between Russia and Ukraine pushed up the prices of industrial raw materials in the international market. As the price of coal went up, there has been a problem in the supply of electricity to Nepal from India. Now the price of cement and rod has also gone up. The association informed that the prices of OPC and PPC cement have gone up by Rs 30 per sack.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As informed by Pokhrel, at present, the price of OPC cement has reached Rs 640 per sack and PPC cement Rs 540 per sack on average. He said that the price of cement has been affected due to the increase in the price of diesel even when the electricity charge was not increased. Meanwhile, the price of iron rods has gone up significantly as well. The price of rods, which was around 70/75 per kg, has now reached Rs 130 per kg.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14770', 'image' => '20220401031400_1635637400.jpg', 'article_date' => '2022-04-01 15:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15027', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about Abrupt Power Disruption', 'sub_title' => 'Urges stakeholders to end the chaotic situation and create conducive environment for running industries', 'summary' => 'April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Friday, the umbrella bodies of industrialists including the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) said that the irregular supply of electricity has caused serious problems in operating industries in the corridors of Butwal-Bhairahawa, Bara-Parsa, Sunsari-Morang and other industrial areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement says that the erratic supply of electricity in addition to low voltage and abrupt power disruption have prevented them from operating industries as per their regular schedule.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement further added that the abrupt power cuts have caused damages to machineries worth Rs millions. The industrialists also drew the attention of the government and the Nepal Electricity Authority (NEA) regarding problems in paying the employees and repayment of bank loans when the industries remain closed due to power outage. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector establishment reminded the NEA about its commitment to supply electricity at any cost. It may be noted that the NEA and its leadership have been pledging time and again that it would not disrupt electricity supply but their action is contrary to their promises.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists urged the NEA to provide uninterrupted supply of electricity by purchasing power from the Indian market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If that is not possible, the NEA should make public the schedule of power cuts,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists also expressed their concern regarding the double standard of NEA for requesting the public to increase electricity consumption when the NEA itself is responsible for hours-long power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also urged the stakeholders to end such chaotic situation and create a conducive environment of running industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14769', 'image' => '20220401024403_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2022-04-01 14:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15025', 'article_category_id' => '1', 'title' => 'Government Hikes Public Transportation Fares', 'sub_title' => '', 'summary' => 'April 1: The government has increased public transportation fares following the rise in prices of petroleum products.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: The government has increased public transportation fares following the rise in prices of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A ministerial-level decision taken by the Ministry of Physical Infrastructure and Transport has approved a hike in transportation fares within the provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Transport Management informed that the government has allowed transport entrepreneurs to increase the fare by 10 to 13 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, only long-route cargo vehicles transporting goods from one province to another have been allowed to hike the transportation fare, the department informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry is preparing to allow transport entrepreneurs to adjust the price under an automatic mechanism when the price of petroleum products fluctuates by 5 percent. The government had promised automatic pricing mechanism before but the decision has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had adjusted transportation fares on July 12, 2021. Since then, the price of diesel has increased by 34 percent, informed the department.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14767', 'image' => '20220401112815_1648740586.jpg', 'article_date' => '2022-04-01 11:27:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15024', 'article_category_id' => '1', 'title' => 'Finance Ministry Seeks Suggestions for Upcoming Budget ', 'sub_title' => '', 'summary' => 'April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year. The ministry has already launched a toll free number 1138 to collect suggestions and recommendations in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the public can make suggestions by calling at the toll free number during office hours. Provision has also been made to submit suggestions by clicking on 'Budget Suggestion' on the website of the ministry and also through email. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to make the budget and its programmes more effective and workable, the ministry believes that suggestions from industrialists, businessmen, intellectuals, politicians, social workers, professionals, media persons, general public and all stakeholders will be important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has already collected suggestions for policies and programmes as well as the upcoming budget from sectors like agriculture, education, banks, financial institutions and insurance, private sector, and economists. The ministry is organizing up to two discussions a week and has been collecting suggestions on the budget from experts in various fields and from other stakeholders. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14766', 'image' => '20220401082319_fin.jpg', 'article_date' => '2022-04-01 08:22:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15021', 'article_category_id' => '1', 'title' => 'NRB Extends Operation Time of RTGS System', 'sub_title' => '', 'summary' => 'March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. ', '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"">March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. </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"">Issuing a notice on Wednesday, Nepal Rastra Bank (NRB) informed that the new trading hours will be implemented from May 15. According to the notice, transactions can be done from 9 am to 5 pm from Sunday to Thursday from January 30 to November 1. The system will be operational from 9 am to 4 pm from November 2 to January 29. On Fridays, transactions can be done from 9 am to 1:30 pm. </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"">Currently, RTGS system can be used to transact more than Rs 200,000 electronically. Currently, banks and financial institutions are using RTGS for most of the electronic payments.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, Rs 3.13 trillion was transacted through RTGS in January 2022 alone. A total of Rs 57.64 billion was transacted through this system in the previous 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"">Recently, the government and NRB have discouraged cash transactions and given priority to electronic payments. The general public is also attracted to the use of electronic payments such as mobile wallets, cards, mobile banking and connect IPS. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14765', 'image' => '20220331013405_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-31 13:33:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15023', 'article_category_id' => '1', 'title' => 'Pashupati Biscuits Shut Down Temporarily due to Illegal Imports of Biscuits from India', 'sub_title' => '', 'summary' => 'March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days.', '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"">March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days. The industry halted manufacturing after issuing a notice stating that stocks are high and market demand is low. Due to the increase in illegal import of biscuits from India via the open border, there has been a decline in the demand of domestic biscuits in the country.</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"">Bharat Silwal, head of administration of the industry, said that even if production is stopped temporarily, biscuits in stock will continue to be sold in the market and the industry’s branches will operate as usual. Silwal said that the production of Nepali biscuits had to be stopped for a few days due to the problem in power supply, rising prices of raw materials including ghee and the decline in demand in the market due to illegal imports of Indian biscuits. He informed that the production has been stopped for a few days as there is a stock of 60,000 cartoons of biscuits.</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"">This is the first time the industry has been shut down by publishing a public notice. The industry was established 48 years ago in 1973 by Lunkarandas Chaudhary, the founder of Chaudhary Group. Pashupati Biscuits, which opened during the golden age of the establishment of industry in the Sunsari-Morang Industrial Corridor, dominated the Nepali market by about 80 percent. Pashupati Biscuits currently belongs to Basant Chaudhary. Even if the industry is said to be closed temporarily, it may have long-term implications as the market is shrinking and raw materials are becoming more expensive, according to an informed source. The source also said, “Not only Pashupati Biscuits, about 50 percent of the industries will likely be shut down if the current situation persists.”</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"">Silwal informed that the production of the industry will be stopped for 15 days as per Article 15 of the Labor Act 2074 BS. The notice read, “If the industry is to be fully or partially operated during that period, advance notice will be given. The work related to administration, security, accounting and sales department will be carried out as per the need.”</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"">Silwal said that the production has been postponed as per the rules with the approval of the Labor and Employment Office. He reminded that the industry was operating for 24 hours during the lockdown period and before that as well. He added that the operation of the industry had to be reduced to eight hours as it was difficult to compete with the illegally imported biscuits from India after the prohibitory orders were lifted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Silwal, even though the industry was in operation for 8 hours, they haven’t received any new orders. He said, “All the warehouses of the industry are full of manufactured goods. Millions of biscuits have to be stored in the warehouse. We are also facing problems in collecting money from the market. If someone has to pay Rs 1 million, we are able to collect just Rs 25,000. How can the industry be run in such a situation?”</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"">Silwal said that the industry is planning to explore all possible ways to sell the goods stored in the warehouses within 15 days and to collect all the remaining dues.</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""> “It is not possible to operate an industry without reducing the stock of goods,” said Silwal.</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""> Hira Yadav, president of industry unit of Nepal Trade Union Congress (NTUC), confirmed that industry has been shut down. Yadav said, “The industry closed down as per the rules after paying everyone. None of us are left to receive any due payment. We are hopeful that the production will resume soon.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14764', 'image' => '20220401091111_1648702680.पशुपति_बिस्कुट_उद्योग.jpg', 'article_date' => '2022-03-31 14:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15022', 'article_category_id' => '1', 'title' => 'PM’s India Visit to Focus on Electricity Trade and JV Projects', 'sub_title' => '', 'summary' => 'March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. ', '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"">March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. It is said that the PM has given special attention on the agenda of electricity trade and building hydropower projects in Nepal with joint investment from India.</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"">Deuba is scheduled to leave for India on Friday (April 1) for a three-day official visit. According to the officials of the Ministry of Energy, Water Resources, and Irrigation, the energy-related agenda are in high priority list of the incumbent government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a government source, the preliminary agenda of the visit has been decided to discuss the energy issue with India.</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 Nepal-India energy meeting held in Kathmandu a month ago also discussed the electricity trade and the construction of hydropower projects with joint ventures. This issue will also be given priority during the Prime Minister's visit to India.</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"">During the visit, Prime Minister Deuba and Indian Prime Minister Narendra Modi will jointly inaugurate the Solu Corridor 132 KV double circuit transmission line from New Delhi, the capital of India, the ministry 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"">On Saturday, the Prime Ministers of both the countries will jointly inaugurate the project through a virtual medium by pressing switch remotely. The construction of the project was completed last December. Now the project is ready be inaugurated and brought into operation. The length of the transmission line from Siraha to Solukhombu via Udayapur and Okhaldhunga is 90 kilometers with 302 towers.</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 project has been built with the investment of the Government of Nepal and a loan from the Export-Import (Exim) Bank of India. India's Mohan Energy Company was awarded the contract to build the project. There were various obstacles during the construction of the project, which was completed last December.</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"">After the project comes into operation, the electricity of the project including Solu Khola with a capacity of 23.5 MW will be connected to the national grid. Most of the projects in the area have not been able to generate electricity due to a lack of transmission lines. It is said that the problem will be solved after the project comes into operation.</span></span></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14763', 'image' => '20220331015201_ROS_KTM-4701.JPG', 'article_date' => '2022-03-31 13:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15020', 'article_category_id' => '1', 'title' => 'All Ministries urged to Submit their Plans for New Budget within 7 Days', 'sub_title' => '', 'summary' => 'March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.', '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"">March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.</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"">During the discussion programme, Finance Minister Janardan Sharma directed the federal, state and local levels to submit their action plans and policies for the upcoming fiscal year within the seven days.</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"">He also instructed not to submit fragmented plans for the upcoming fiscal year. He said that there is a tendency of federal levels to include fragmented plans in the federal budget and skip the work during implementation phase and directed the ministers not to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma has asked all ministries and agencies to submit a plan to reduce current expenditure for the upcoming budget. He said that the progress of the national pride and game changer projects was disappointing, and added that the pace of construction of the national pride projects was very slow. He also emphasized on a budget focused on economic prosperity through increasing production and employment.</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"">During the discussion, Finance Secretary Madhu Kumar Marasini suggested the ministries to present their budget programmes within the limits of financial discipline considering the limited resources of the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14762', 'image' => '20220331010945_1648651431.jpg', 'article_date' => '2022-03-31 13:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15018', 'article_category_id' => '1', 'title' => 'Government Unlikely to Achieve 7 Percent Growth Target ', 'sub_title' => '', 'summary' => 'March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79).', '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"">March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79). Finance Minister Janardan Sharma, who did not change the economic growth target even in the mid-term review of the current fiscal year's budget, admitted that the target would not be achieved. </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 economic growth of above 7 percent was not announced just for the sake of speech, it was meant to be achieved. However, due to the damage caused by the floods and landslides in the agricultural sector in June/July, and the unexpected fluctuations in the international geo-politics, the economic growth rate cannot be achieved," he said at a program in the capital on Tuesday. </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"">Finance Minister Sharma said that the country is poor despite being rich in resources and they are making efforts to move towards prosperity through institutional strengthening. "There is a structural problem, and there can be no qualitative improvement without improving the systemic problem. So we are focused towards achieving that end," 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"">According to him, the country does not have any policy regarding research and investigation. Further, he said that they are making an effort to bring a budget that emphasises on import replacement and increasing production to eliminate the problem of trade deficit and unemployment. According to him, they are preparing to redefine the projects of national pride. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><em><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dozens of suggestions for the budget</span></span></em></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"">Economists, industrialists, bankers and others have given dozens of suggestions, ranging from the recent government-controlled cryptocurrencies to the opening of a policy research center for the budget for the coming 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"">Stating that the new type of digital business has added a challenge to the economy, they have suggested that it should be regulated rather than banned. </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"">Speaking at a discussion program organized in Kathmandu on Tuesday in collaboration between Nepal Economic Association, Confederation of Banks and Financial Institutions Nepal and the Ministry of Finance, economist Dr. Bishwambher Pyakurel said the latest index shows the country's economic situation is not good. </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"">He said that although there may be investment in cryptocurrency due to lack of liquidity, there is no study or research on it. </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"">"It looks like the Nepal Rastra Bank and the CIB have signed the contract. There is no proper study from the government level. Other countries have started keeping statistics of investment in crypto. It is necessary to rethink about cryptocurrency," he said. Stating that public debt is increasing in Nepal, he said that with the increase in debt at the rate of 4-5 percent of GDP every year, it seems that Nepal is heading towards the crisis faced by Sri Lanka. </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"">He emphasized that the upcoming budget should be aimed at reducing poverty and budget deficit. Economist Keshav Acharya said that imbalance of payments and inflation were the major problems in the economy. Stating that freight rates have increased due to the Russia-Ukraine war, he suggested that Nepal should now review the foreign exchange rate as well. "It has been 31 years that the foreign exchange rate hasn't been changed. Now we have to think about changing it." </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"">He suggested the government to limit the number of national pride projects and added that the donors should waive the installment during the difficult period that the country is going through.</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"">He further said that the budget should be prepared in such a way as to provide subsidies to the farmers on the basis of productivity. </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"">Professor Dr Govinda Nepal said that the upcoming budget should be able to create road access to every municipality. "It is necessary to open basic health posts in every municipality and residential school in every district that can accommodate children of at least 2,000 poor people," he said. According to him, the government should now open a policy research center, in which it is necessary to invest Rs 50 million every 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"">Similarly, economist Posharaj Pandey said that the upcoming budget in the post-Covid-19 period should be able to create employment along with economic recovery. He alleged that the Ministry of Finance has become a body to collect revenue and buy votes. </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"">Finance Secretary Madhu Marasini said that the upcoming budget will focus on creating production and employment in the country. He said that the current problems in the economy are unpredictable and they will move ahead by handling the situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14760', 'image' => '20220330055409_Inflation.jpg', 'article_date' => '2022-03-30 17:53:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15017', 'article_category_id' => '1', 'title' => 'Sunsari-Morang Industrial Corridor Facing Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day.', '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"">March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day. Industrialists have cried foul to the power cuts to the industry, which is already reeling under liquidity crisis, rising interest rates, and the crisis in Ukraine.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the industrialists of the corridor, the Nepal Electricity Authority (NEA) has cut off electricity supply to industries consuming more than one megawatt of electricity on the pretext that it has not been able to import electricity from India due to high cost.</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 Morang Trade Association, Chamber of Industries Morang, and Province 1 chapter of the Confederation of Nepalese Industries held a joint press conference on Tuesday and expressed outrage over the NEA's unusual behavior. They accused the government of conspiring to bring the private sector back to the state of 10 years ago under various pretexts. </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"">Meanwhile, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said in a press release that the 14-hour power outage in the industrial sector had unexpectedly reduced production, left workers unemployed, and also resulted in failure to pay the bank interest on time. The federation has urged to resolve the issue immediately as it will also affect the government’s revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at the joint press conference, Navin Rijal, president of the Morang Trade Association, said that the industrialists were affected twice when the NEA increased the price of electricity and the Nepal Oil Corporation increased the price of diesel. He said that the industrialists should be able to buy diesel at reasonable charges when the price of electricity goes up, and the price of electricity should go down when the price of diesel goes up.</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"">Rijal argues that the state should ease the current situation by reducing unnecessary expenditure.</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"">He said that there is no need to worry when the banks’ profit declines. According to Rijal, the interest rate should be maintained at 6 percent and Rs 40 billion savings should be brought to the market.</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"">Chairman of the Chamber of Industries Morang, Suyash Raj Pyakurel, said that the NEA has acted strangely by urging them to increase electricity consumption but has cut the supply after 12 noon.</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"">He said that the government should not force the industrialists to buy electricity at expensive rate. He said that the state should not back off saying that there is a problem. “It should seek appropriate solution immediately."</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"">Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, complained that industries were shutting down due to a lack of electricity, high interest rate of banks, and liquidity crisis.</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"">He said that the government should find a timely solution to this problem as the workers would be left unemployed when the industry is shut down, they would not be able to pay the bank installments on time and the government would not be able to levy taxes.</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"">Constituent Assembly member and former president of the Morang Trade Association Pawan Kumar Sharda said that the government had deceived the industrialists and businessmen. He said that the double standard of the banks and the government has worked to bring the industrial sector back to the level it was 10 years ago. </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 banks give loans to the industry but they increase the interest rate unbearably. The government pledges electricity but cuts the supply when the plant is set up. This has put the industrialists in debt trap," he said. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14759', 'image' => '20220330051709_c1d0e043-electricity.jpg', 'article_date' => '2022-03-30 17:16:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15016', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Affected by Excessive Price Hike', 'sub_title' => '', 'summary' => 'March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials.', '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"">March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials. </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"">FCAN members made such remark during a press conference organized on Tuesday to announce the decision of the national meeting held on March 28. During the press conference, president of the federation, Ravi Singh said that the construction works cannot be carried out in the current situation.</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"">Singh warned that if the decisions taken by the National Assembly on price control are not implemented within the next week, the federation would be forced to launch stern protests. He said that along with the sharp rise in prices of construction materials, their shortage as well as their black marketing has started as well.</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 federation has demanded the Public Procurement Monitoring Office to immediately issue Technical Guidelines No 2 similar to that of 2065 BS for the entrepreneurs to make inflation adjustment in all the projects in line with the Public Procurement Act, 2063 BS. President Singh said that the government of Nepal should declare a 'construction holiday' until the price rise is not controlled. The federation has requested to make the construction industry of the country systematic and dignified by correcting the errors of 11th amendment to the Public Procurement Rules, 2064 BS.</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"">Similarly, president Singh stated that all the projects should be given an extension of one year since it is not possible to complete the construction works by mid-April this year due to the price hike caused by Covid-19 pandemic. </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 addition, the federation has also demanded a one-time waiver of value-added tax and income tax for the contractors who have been affected by the pandemic. </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"">At the press conference, Senior Vice President of the federation, Aang Dorji Lama, General Secretary Roshan Dahal and Deputy Secretary General for Policy Shivahari Ghimire said that the media can play an important role in solving the problems of the construction industry.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14758', 'image' => '20220330042113_construction.jpg', 'article_date' => '2022-03-30 16:20:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15034', 'article_category_id' => '1', 'title' => 'Export of Citrus Fruits to China remains Stalled', 'sub_title' => '', 'summary' => 'April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to China.', '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"">April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to China.</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, not a single citrus fruit has been exported to China so far. Due to the negligence of the Chinese government in the implementation of the agreement, citrus fruits could not be exported to China. Concerned authorities said that even though Nepal completed all the procedures to export citrus fruits to China in trial phase last year, Beijing did not show any interest in implementing the agreement on the pretext of growing Covid-19 cases.</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"">Secretary at the Ministry of Agriculture and Livestock Development, Govinda Prasad Sharma said that China has not accepted citrus fruits from Nepal even though Nepal has met all the criteria including quarantine, proper management of diseases, and packaging. According to Sharma, Nepal has already registered the producers’ farms and also facilitated coordination between orange producers, traders and Chinese agents for the exports. However, the process did not move forward as the Chinese government did not agree for the export.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Sahadev Humagain, head of the Center for Plant Quarantine and Pesticide Management, the process of export has not moved forward due to China’s reluctance citing the Covid-19 pandemic. Nepal completed all its preparations last year itself. Humagain said if China had agreed, exports of citrus fruits to China would have already started since last 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"">Earlier, a similar agreement was signed between the two countries in 2012. The agreement at that time had a clause which stated that the fruits grown in disease-free, insect-free orchards. Exporters were expecting the trade to be easy this time as the fruits were required to be free from diseases and insects as mentioned in the agreement two years ago. However, China's tendency to negotiate and neglect implementation is seen to have complicated export procedures.</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"">After the implementation of Sweet Orange Super Zone in Nepal in the fiscal year 2073/74, the number of farmers cultivating oranges has increased. Varieties of citrus fruits are produced mostly in the hill districts of Nepal including Ramechhap, Sindhuli, Doti, Dandeldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta and Palpa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the National Citrus Development Program, Nepal produces about 177,000 metric tons of oranges, 39,500 metric tons of lemons and 43,000 metric tons of sweet oranges annually. Although citrus fruits are grown in about 56 districts of Nepal, commercial production is limited to 44 districts. Nepal's internal production meets 80 percent of domestic demand. The remaining 20 percent is imported from abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14776', 'image' => '20220403044004_tangarines.jpg', 'article_date' => '2022-04-03 16:39:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15033', 'article_category_id' => '1', 'title' => 'NOC says Fuel Supply will Ease from Today Afternoon', 'sub_title' => '', 'summary' => 'April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned oil monopoly made such appeal after reaching an understanding with dealers to resume the distribution of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NOC assured that the supply of petroleum products will become normal from Sunday afternoon after the two sides reached an understanding on Saturday evening (April 2).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson of NOC Pushkar Kumar Karki said that the petroleum dealers from across the country, including those in the Kathmandu valley, have already started demanding fuel from the NOC. He said that the dealers have started collecting fuel since 8 am today morning (April 3) and the supply of petroleum products is expected to ease from 3 pm.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Supply of petroleum products from different depots has already started from early morning. It might take some time to unload the fuel. The distribution of petroleum products will ease after 3 pm,” said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NOC, dealers from Kathmandu to Gandaki, Lumbini, Biratnagar and Amlekhgunj have already started collecting fuel from this morning. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu valley faced shortage of petrol and diesel on Saturday after the petrol dealers caused obstruction in transportation of fuel demanding a hike in commission a few days ago. Fearing shortage of petroleum products, a large number of people were seen in serpentine queue at fuel stations on Saturday.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14775', 'image' => '20220403030059_petrol-pump.jpg', 'article_date' => '2022-04-03 15:00:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15031', 'article_category_id' => '1', 'title' => 'Nepal, India Agree to Take Ahead Pancheshwor Project ', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides agreed to advance the project after they held the bilateral talks between visiting Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi in India on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even the detailed project report (DPR) has not be prepared despite the passage of two and half decade since the two countries signed the Mahakali Treaty. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Prime Minister Modi termed the Pancheshwor project a 'game changer project' and expressed commitment that the long-awaited project would be advanced hereafter. This announcement has given hope that DPR would be prepared now. The two countries were supposed to prepare the DPR within six months after signing the Mahakali Treaty.</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"">However, issues over sharing of water from the Mahakali River between Nepal and India has not been settled yet, according to Ministry of Energy, Water Resources and Irrigation. As per the Mahakali Treaty, both countries have agreed on five percent of water to be released for the livelihood of upper basin.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian PM reiterated that the Pancheshwor project stalled since a long time would be expedited. The Pancheshwor project is to be constructed with the joint investment of Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mega hydropower project aims to produce 1,480 MW electricity to benefit both the countries. </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"">Modi further said discussion was held on multi-dimensional relations between India and Nepal during the meeting with PM Deuba-led Nepali delegation. He also shared that both countries were ready to build partnership and cooperation in the energy sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other issues relating to energy and water resources including India assisting Nepal with the purchase of hydropower produced in Nepal and promotion of clean energy also figured in the high level meeting. -- RSS</span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14773', 'image' => '20220403010542_ROS_KTM_PMDEUBA_INDIA_VISIT_MODI_PRESSMEET.jpg', 'article_date' => '2022-04-03 13:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15030', 'article_category_id' => '1', 'title' => 'Nepal, India sign 4 Agreements during PM Deuba's State Visit', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.</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 two countries signed the agreements following a meeting between Prime Minister Deuba and his Indian counterpart Narendra Modi at Hyderabad House in New Delhi on Saturday (April 2).</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 agreements include Nepal's participation in international solar energy alliance, Indian technical support for Nepal's railway service sector, Indian assistance for fuel supply and technical support in the form of exchange of experts between Nepal Oil Corporation and Indian Oil Corporation. </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"">According to informed sources, the prime minister said that the two countries also discussed issues related to border disputes and their resolution through bilateral mechanism.</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"">“We discussed the border dispute and I urged Mr Modi to resolve the issue through bilateral mechanism,” the source quoted Deuba as saying.</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"">Meanwhile, prime ministers of both the countries jointly launched the Kurtha-Jaynagar cross-border rail link on the occasion. Similarly, PM Deuba and his Indian counterpart also inaugurated 132-KV Solu Corridor Transmission Line. The transmission line was constructed in Nepal with India's loan assistance of Rs 3.20 billion. </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"">During the meeting Prime Minister Deuba reportedly urged Modi to avail three additional air entry routes to Nepal.</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"">PM Deuba said during a press conference after the signing ceremony that his state visit was fruitful in holding discussion on various aspects of Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deuba also lauded the progress achieved by India under Prime Minister Modi's leadership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Praising the effective management carried out by India to control COVID-19 pandemic, PM Deuba extended gratitude towards India for its support to Nepal's battle against COVID-19. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14772', 'image' => '20220403111308_Flag-Pins-Nepal-India.jpg', 'article_date' => '2022-04-03 11:12:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15028', 'article_category_id' => '1', 'title' => 'Production of Cement and Iron Rods Declines by 50 Percent as Power Cut Hits Industries', 'sub_title' => '', 'summary' => 'April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. ', '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"">April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. The cement and rod industries say that they are compelled to lower the production in the main season when there is high demand.</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"">Generally, Nepal imports electricity from India in winter. But this time, there is a shortage of electricity in the Indian market itself. Due to the shortage of coal, the production of electricity has declined and prices have skyrocketed in India. At present, the NEA cannot purchase electricity at previous rates, and therefore it has been submitting proposals to buy electricity at an increased rate. Despite this, the supply of electricity to the industries is not enough to meet the demands.</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"">President of the Confederation of Nepalese Industries (CNI) Vishnu Agrawal said that the industries are not getting regular supply of electricity. He says that NEA should ensure regular supply of quality electricity regardless of the fluctuation of rate. </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 problem in power supply might discourage both domestic as well as foreign investors. The cost of production has gone up. The government and Nepal Electricity Authority should be responsible to resolve it,” said Agrawal.</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"">Similarly, Tara Prasad Pokhrel, vice-president of Cement Manufacturers' Association of Nepal, said that the industries are facing 12-13 hours of load shedding. Pokhrel said, “On the one hand, there is load shedding and on the other hand, the industry which needs 6 MW of electricity is getting only 3 MW. The industries are on the verge of closure due to non-availability of electricity.” He also said that as the production and sales cycle deteriorates due to non-availability of electricity, bank interest increases and causes liquidity crisis.</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"">He said that there has been no regularity in power supply for the last two years. “Production had already started to take place after Covid-19 slump. The issues with energy are arising again when development work has already started to pick up pace,” said Pokhrel. He said that the electricity goes to waste during the rainy season and industries reach the verge of closure due to scarcity of electricity during the winter.</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"">Pokhrel, who is also the managing director of Agni Cement, said that cement producers have reduced production by 50 percent due to lack of electricity. Although the charge of electricity is constant, industrialists are not able to get electricity. Pokhrel suggested that the government to build reservoir-based projects to solve such problems in the long run.</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"">Hari Neupane, chairman of Ambe Group said the power cuts at the rolling mills caused a lot of problems. Stating that industries are not getting regular electricity for some time now, he said that the factories have cut production by 50 percent. “There is no power. Even if we get electricity supply, it is not regular. Cement and rod industries are in a tight spot due to this reason. The demand cannot be reciprocated with the supply.” He said that they are unable to meet the high demand of the market since the production is low.</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 Nepal Electricity Authority (NEA) claims that the electricity supply to the industries as per the demand is halted only when it does not get the electricity at the proposed rate. NEA spokesperson Suresh Bahadur Bhattarai said that electricity is not provided only when the bid is rejected. Bhattarai said, “There is no load shedding situation as the industrialists said. We provided electricity regularly on Wednesday as well.”</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 recent conflict between Russia and Ukraine pushed up the prices of industrial raw materials in the international market. As the price of coal went up, there has been a problem in the supply of electricity to Nepal from India. Now the price of cement and rod has also gone up. The association informed that the prices of OPC and PPC cement have gone up by Rs 30 per sack.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As informed by Pokhrel, at present, the price of OPC cement has reached Rs 640 per sack and PPC cement Rs 540 per sack on average. He said that the price of cement has been affected due to the increase in the price of diesel even when the electricity charge was not increased. Meanwhile, the price of iron rods has gone up significantly as well. The price of rods, which was around 70/75 per kg, has now reached Rs 130 per kg.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14770', 'image' => '20220401031400_1635637400.jpg', 'article_date' => '2022-04-01 15:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15027', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about Abrupt Power Disruption', 'sub_title' => 'Urges stakeholders to end the chaotic situation and create conducive environment for running industries', 'summary' => 'April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Friday, the umbrella bodies of industrialists including the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) said that the irregular supply of electricity has caused serious problems in operating industries in the corridors of Butwal-Bhairahawa, Bara-Parsa, Sunsari-Morang and other industrial areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement says that the erratic supply of electricity in addition to low voltage and abrupt power disruption have prevented them from operating industries as per their regular schedule.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement further added that the abrupt power cuts have caused damages to machineries worth Rs millions. The industrialists also drew the attention of the government and the Nepal Electricity Authority (NEA) regarding problems in paying the employees and repayment of bank loans when the industries remain closed due to power outage. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector establishment reminded the NEA about its commitment to supply electricity at any cost. It may be noted that the NEA and its leadership have been pledging time and again that it would not disrupt electricity supply but their action is contrary to their promises.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists urged the NEA to provide uninterrupted supply of electricity by purchasing power from the Indian market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If that is not possible, the NEA should make public the schedule of power cuts,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists also expressed their concern regarding the double standard of NEA for requesting the public to increase electricity consumption when the NEA itself is responsible for hours-long power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also urged the stakeholders to end such chaotic situation and create a conducive environment of running industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14769', 'image' => '20220401024403_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2022-04-01 14:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15025', 'article_category_id' => '1', 'title' => 'Government Hikes Public Transportation Fares', 'sub_title' => '', 'summary' => 'April 1: The government has increased public transportation fares following the rise in prices of petroleum products.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: The government has increased public transportation fares following the rise in prices of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A ministerial-level decision taken by the Ministry of Physical Infrastructure and Transport has approved a hike in transportation fares within the provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Transport Management informed that the government has allowed transport entrepreneurs to increase the fare by 10 to 13 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, only long-route cargo vehicles transporting goods from one province to another have been allowed to hike the transportation fare, the department informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry is preparing to allow transport entrepreneurs to adjust the price under an automatic mechanism when the price of petroleum products fluctuates by 5 percent. The government had promised automatic pricing mechanism before but the decision has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had adjusted transportation fares on July 12, 2021. Since then, the price of diesel has increased by 34 percent, informed the department.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14767', 'image' => '20220401112815_1648740586.jpg', 'article_date' => '2022-04-01 11:27:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15024', 'article_category_id' => '1', 'title' => 'Finance Ministry Seeks Suggestions for Upcoming Budget ', 'sub_title' => '', 'summary' => 'April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year. The ministry has already launched a toll free number 1138 to collect suggestions and recommendations in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the public can make suggestions by calling at the toll free number during office hours. Provision has also been made to submit suggestions by clicking on 'Budget Suggestion' on the website of the ministry and also through email. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to make the budget and its programmes more effective and workable, the ministry believes that suggestions from industrialists, businessmen, intellectuals, politicians, social workers, professionals, media persons, general public and all stakeholders will be important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has already collected suggestions for policies and programmes as well as the upcoming budget from sectors like agriculture, education, banks, financial institutions and insurance, private sector, and economists. The ministry is organizing up to two discussions a week and has been collecting suggestions on the budget from experts in various fields and from other stakeholders. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14766', 'image' => '20220401082319_fin.jpg', 'article_date' => '2022-04-01 08:22:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15021', 'article_category_id' => '1', 'title' => 'NRB Extends Operation Time of RTGS System', 'sub_title' => '', 'summary' => 'March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. ', '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"">March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. </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"">Issuing a notice on Wednesday, Nepal Rastra Bank (NRB) informed that the new trading hours will be implemented from May 15. According to the notice, transactions can be done from 9 am to 5 pm from Sunday to Thursday from January 30 to November 1. The system will be operational from 9 am to 4 pm from November 2 to January 29. On Fridays, transactions can be done from 9 am to 1:30 pm. </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"">Currently, RTGS system can be used to transact more than Rs 200,000 electronically. Currently, banks and financial institutions are using RTGS for most of the electronic payments.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, Rs 3.13 trillion was transacted through RTGS in January 2022 alone. A total of Rs 57.64 billion was transacted through this system in the previous 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"">Recently, the government and NRB have discouraged cash transactions and given priority to electronic payments. The general public is also attracted to the use of electronic payments such as mobile wallets, cards, mobile banking and connect IPS. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14765', 'image' => '20220331013405_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-31 13:33:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15023', 'article_category_id' => '1', 'title' => 'Pashupati Biscuits Shut Down Temporarily due to Illegal Imports of Biscuits from India', 'sub_title' => '', 'summary' => 'March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days.', '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"">March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days. The industry halted manufacturing after issuing a notice stating that stocks are high and market demand is low. Due to the increase in illegal import of biscuits from India via the open border, there has been a decline in the demand of domestic biscuits in the country.</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"">Bharat Silwal, head of administration of the industry, said that even if production is stopped temporarily, biscuits in stock will continue to be sold in the market and the industry’s branches will operate as usual. Silwal said that the production of Nepali biscuits had to be stopped for a few days due to the problem in power supply, rising prices of raw materials including ghee and the decline in demand in the market due to illegal imports of Indian biscuits. He informed that the production has been stopped for a few days as there is a stock of 60,000 cartoons of biscuits.</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"">This is the first time the industry has been shut down by publishing a public notice. The industry was established 48 years ago in 1973 by Lunkarandas Chaudhary, the founder of Chaudhary Group. Pashupati Biscuits, which opened during the golden age of the establishment of industry in the Sunsari-Morang Industrial Corridor, dominated the Nepali market by about 80 percent. Pashupati Biscuits currently belongs to Basant Chaudhary. Even if the industry is said to be closed temporarily, it may have long-term implications as the market is shrinking and raw materials are becoming more expensive, according to an informed source. The source also said, “Not only Pashupati Biscuits, about 50 percent of the industries will likely be shut down if the current situation persists.”</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"">Silwal informed that the production of the industry will be stopped for 15 days as per Article 15 of the Labor Act 2074 BS. The notice read, “If the industry is to be fully or partially operated during that period, advance notice will be given. The work related to administration, security, accounting and sales department will be carried out as per the need.”</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"">Silwal said that the production has been postponed as per the rules with the approval of the Labor and Employment Office. He reminded that the industry was operating for 24 hours during the lockdown period and before that as well. He added that the operation of the industry had to be reduced to eight hours as it was difficult to compete with the illegally imported biscuits from India after the prohibitory orders were lifted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Silwal, even though the industry was in operation for 8 hours, they haven’t received any new orders. He said, “All the warehouses of the industry are full of manufactured goods. Millions of biscuits have to be stored in the warehouse. We are also facing problems in collecting money from the market. If someone has to pay Rs 1 million, we are able to collect just Rs 25,000. How can the industry be run in such a situation?”</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"">Silwal said that the industry is planning to explore all possible ways to sell the goods stored in the warehouses within 15 days and to collect all the remaining dues.</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""> “It is not possible to operate an industry without reducing the stock of goods,” said Silwal.</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""> Hira Yadav, president of industry unit of Nepal Trade Union Congress (NTUC), confirmed that industry has been shut down. Yadav said, “The industry closed down as per the rules after paying everyone. None of us are left to receive any due payment. We are hopeful that the production will resume soon.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14764', 'image' => '20220401091111_1648702680.पशुपति_बिस्कुट_उद्योग.jpg', 'article_date' => '2022-03-31 14:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15022', 'article_category_id' => '1', 'title' => 'PM’s India Visit to Focus on Electricity Trade and JV Projects', 'sub_title' => '', 'summary' => 'March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. ', '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"">March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. It is said that the PM has given special attention on the agenda of electricity trade and building hydropower projects in Nepal with joint investment from India.</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"">Deuba is scheduled to leave for India on Friday (April 1) for a three-day official visit. According to the officials of the Ministry of Energy, Water Resources, and Irrigation, the energy-related agenda are in high priority list of the incumbent government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a government source, the preliminary agenda of the visit has been decided to discuss the energy issue with India.</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 Nepal-India energy meeting held in Kathmandu a month ago also discussed the electricity trade and the construction of hydropower projects with joint ventures. This issue will also be given priority during the Prime Minister's visit to India.</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"">During the visit, Prime Minister Deuba and Indian Prime Minister Narendra Modi will jointly inaugurate the Solu Corridor 132 KV double circuit transmission line from New Delhi, the capital of India, the ministry 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"">On Saturday, the Prime Ministers of both the countries will jointly inaugurate the project through a virtual medium by pressing switch remotely. The construction of the project was completed last December. Now the project is ready be inaugurated and brought into operation. The length of the transmission line from Siraha to Solukhombu via Udayapur and Okhaldhunga is 90 kilometers with 302 towers.</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 project has been built with the investment of the Government of Nepal and a loan from the Export-Import (Exim) Bank of India. India's Mohan Energy Company was awarded the contract to build the project. There were various obstacles during the construction of the project, which was completed last December.</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"">After the project comes into operation, the electricity of the project including Solu Khola with a capacity of 23.5 MW will be connected to the national grid. Most of the projects in the area have not been able to generate electricity due to a lack of transmission lines. It is said that the problem will be solved after the project comes into operation.</span></span></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14763', 'image' => '20220331015201_ROS_KTM-4701.JPG', 'article_date' => '2022-03-31 13:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15020', 'article_category_id' => '1', 'title' => 'All Ministries urged to Submit their Plans for New Budget within 7 Days', 'sub_title' => '', 'summary' => 'March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.', '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"">March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.</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"">During the discussion programme, Finance Minister Janardan Sharma directed the federal, state and local levels to submit their action plans and policies for the upcoming fiscal year within the seven days.</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"">He also instructed not to submit fragmented plans for the upcoming fiscal year. He said that there is a tendency of federal levels to include fragmented plans in the federal budget and skip the work during implementation phase and directed the ministers not to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma has asked all ministries and agencies to submit a plan to reduce current expenditure for the upcoming budget. He said that the progress of the national pride and game changer projects was disappointing, and added that the pace of construction of the national pride projects was very slow. He also emphasized on a budget focused on economic prosperity through increasing production and employment.</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"">During the discussion, Finance Secretary Madhu Kumar Marasini suggested the ministries to present their budget programmes within the limits of financial discipline considering the limited resources of the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14762', 'image' => '20220331010945_1648651431.jpg', 'article_date' => '2022-03-31 13:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15018', 'article_category_id' => '1', 'title' => 'Government Unlikely to Achieve 7 Percent Growth Target ', 'sub_title' => '', 'summary' => 'March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79).', '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"">March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79). Finance Minister Janardan Sharma, who did not change the economic growth target even in the mid-term review of the current fiscal year's budget, admitted that the target would not be achieved. </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 economic growth of above 7 percent was not announced just for the sake of speech, it was meant to be achieved. However, due to the damage caused by the floods and landslides in the agricultural sector in June/July, and the unexpected fluctuations in the international geo-politics, the economic growth rate cannot be achieved," he said at a program in the capital on Tuesday. </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"">Finance Minister Sharma said that the country is poor despite being rich in resources and they are making efforts to move towards prosperity through institutional strengthening. "There is a structural problem, and there can be no qualitative improvement without improving the systemic problem. So we are focused towards achieving that end," 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"">According to him, the country does not have any policy regarding research and investigation. Further, he said that they are making an effort to bring a budget that emphasises on import replacement and increasing production to eliminate the problem of trade deficit and unemployment. According to him, they are preparing to redefine the projects of national pride. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><em><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dozens of suggestions for the budget</span></span></em></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"">Economists, industrialists, bankers and others have given dozens of suggestions, ranging from the recent government-controlled cryptocurrencies to the opening of a policy research center for the budget for the coming 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"">Stating that the new type of digital business has added a challenge to the economy, they have suggested that it should be regulated rather than banned. </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"">Speaking at a discussion program organized in Kathmandu on Tuesday in collaboration between Nepal Economic Association, Confederation of Banks and Financial Institutions Nepal and the Ministry of Finance, economist Dr. Bishwambher Pyakurel said the latest index shows the country's economic situation is not good. </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"">He said that although there may be investment in cryptocurrency due to lack of liquidity, there is no study or research on it. </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"">"It looks like the Nepal Rastra Bank and the CIB have signed the contract. There is no proper study from the government level. Other countries have started keeping statistics of investment in crypto. It is necessary to rethink about cryptocurrency," he said. Stating that public debt is increasing in Nepal, he said that with the increase in debt at the rate of 4-5 percent of GDP every year, it seems that Nepal is heading towards the crisis faced by Sri Lanka. </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"">He emphasized that the upcoming budget should be aimed at reducing poverty and budget deficit. Economist Keshav Acharya said that imbalance of payments and inflation were the major problems in the economy. Stating that freight rates have increased due to the Russia-Ukraine war, he suggested that Nepal should now review the foreign exchange rate as well. "It has been 31 years that the foreign exchange rate hasn't been changed. Now we have to think about changing it." </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"">He suggested the government to limit the number of national pride projects and added that the donors should waive the installment during the difficult period that the country is going through.</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"">He further said that the budget should be prepared in such a way as to provide subsidies to the farmers on the basis of productivity. </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"">Professor Dr Govinda Nepal said that the upcoming budget should be able to create road access to every municipality. "It is necessary to open basic health posts in every municipality and residential school in every district that can accommodate children of at least 2,000 poor people," he said. According to him, the government should now open a policy research center, in which it is necessary to invest Rs 50 million every 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"">Similarly, economist Posharaj Pandey said that the upcoming budget in the post-Covid-19 period should be able to create employment along with economic recovery. He alleged that the Ministry of Finance has become a body to collect revenue and buy votes. </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"">Finance Secretary Madhu Marasini said that the upcoming budget will focus on creating production and employment in the country. He said that the current problems in the economy are unpredictable and they will move ahead by handling the situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14760', 'image' => '20220330055409_Inflation.jpg', 'article_date' => '2022-03-30 17:53:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15017', 'article_category_id' => '1', 'title' => 'Sunsari-Morang Industrial Corridor Facing Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day.', '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"">March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day. Industrialists have cried foul to the power cuts to the industry, which is already reeling under liquidity crisis, rising interest rates, and the crisis in Ukraine.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the industrialists of the corridor, the Nepal Electricity Authority (NEA) has cut off electricity supply to industries consuming more than one megawatt of electricity on the pretext that it has not been able to import electricity from India due to high cost.</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 Morang Trade Association, Chamber of Industries Morang, and Province 1 chapter of the Confederation of Nepalese Industries held a joint press conference on Tuesday and expressed outrage over the NEA's unusual behavior. They accused the government of conspiring to bring the private sector back to the state of 10 years ago under various pretexts. </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"">Meanwhile, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said in a press release that the 14-hour power outage in the industrial sector had unexpectedly reduced production, left workers unemployed, and also resulted in failure to pay the bank interest on time. The federation has urged to resolve the issue immediately as it will also affect the government’s revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at the joint press conference, Navin Rijal, president of the Morang Trade Association, said that the industrialists were affected twice when the NEA increased the price of electricity and the Nepal Oil Corporation increased the price of diesel. He said that the industrialists should be able to buy diesel at reasonable charges when the price of electricity goes up, and the price of electricity should go down when the price of diesel goes up.</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"">Rijal argues that the state should ease the current situation by reducing unnecessary expenditure.</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"">He said that there is no need to worry when the banks’ profit declines. According to Rijal, the interest rate should be maintained at 6 percent and Rs 40 billion savings should be brought to the market.</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"">Chairman of the Chamber of Industries Morang, Suyash Raj Pyakurel, said that the NEA has acted strangely by urging them to increase electricity consumption but has cut the supply after 12 noon.</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"">He said that the government should not force the industrialists to buy electricity at expensive rate. He said that the state should not back off saying that there is a problem. “It should seek appropriate solution immediately."</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"">Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, complained that industries were shutting down due to a lack of electricity, high interest rate of banks, and liquidity crisis.</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"">He said that the government should find a timely solution to this problem as the workers would be left unemployed when the industry is shut down, they would not be able to pay the bank installments on time and the government would not be able to levy taxes.</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"">Constituent Assembly member and former president of the Morang Trade Association Pawan Kumar Sharda said that the government had deceived the industrialists and businessmen. He said that the double standard of the banks and the government has worked to bring the industrial sector back to the level it was 10 years ago. </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 banks give loans to the industry but they increase the interest rate unbearably. The government pledges electricity but cuts the supply when the plant is set up. This has put the industrialists in debt trap," he said. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14759', 'image' => '20220330051709_c1d0e043-electricity.jpg', 'article_date' => '2022-03-30 17:16:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15016', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Affected by Excessive Price Hike', 'sub_title' => '', 'summary' => 'March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials.', '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"">March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials. </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"">FCAN members made such remark during a press conference organized on Tuesday to announce the decision of the national meeting held on March 28. During the press conference, president of the federation, Ravi Singh said that the construction works cannot be carried out in the current situation.</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"">Singh warned that if the decisions taken by the National Assembly on price control are not implemented within the next week, the federation would be forced to launch stern protests. He said that along with the sharp rise in prices of construction materials, their shortage as well as their black marketing has started as well.</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 federation has demanded the Public Procurement Monitoring Office to immediately issue Technical Guidelines No 2 similar to that of 2065 BS for the entrepreneurs to make inflation adjustment in all the projects in line with the Public Procurement Act, 2063 BS. President Singh said that the government of Nepal should declare a 'construction holiday' until the price rise is not controlled. The federation has requested to make the construction industry of the country systematic and dignified by correcting the errors of 11th amendment to the Public Procurement Rules, 2064 BS.</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"">Similarly, president Singh stated that all the projects should be given an extension of one year since it is not possible to complete the construction works by mid-April this year due to the price hike caused by Covid-19 pandemic. </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 addition, the federation has also demanded a one-time waiver of value-added tax and income tax for the contractors who have been affected by the pandemic. </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"">At the press conference, Senior Vice President of the federation, Aang Dorji Lama, General Secretary Roshan Dahal and Deputy Secretary General for Policy Shivahari Ghimire said that the media can play an important role in solving the problems of the construction industry.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14758', 'image' => '20220330042113_construction.jpg', 'article_date' => '2022-03-30 16:20:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '15034', 'article_category_id' => '1', 'title' => 'Export of Citrus Fruits to China remains Stalled', 'sub_title' => '', 'summary' => 'April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to China.', '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"">April 3: The Ministry of Agriculture and Livestock Development had signed an agreement with the Department of Agriculture of China during the state visit of Chinese President Xi Jinping to Nepal in October 2019 for the export of citrus fruits to China.</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, not a single citrus fruit has been exported to China so far. Due to the negligence of the Chinese government in the implementation of the agreement, citrus fruits could not be exported to China. Concerned authorities said that even though Nepal completed all the procedures to export citrus fruits to China in trial phase last year, Beijing did not show any interest in implementing the agreement on the pretext of growing Covid-19 cases.</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"">Secretary at the Ministry of Agriculture and Livestock Development, Govinda Prasad Sharma said that China has not accepted citrus fruits from Nepal even though Nepal has met all the criteria including quarantine, proper management of diseases, and packaging. According to Sharma, Nepal has already registered the producers’ farms and also facilitated coordination between orange producers, traders and Chinese agents for the exports. However, the process did not move forward as the Chinese government did not agree for the export.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Sahadev Humagain, head of the Center for Plant Quarantine and Pesticide Management, the process of export has not moved forward due to China’s reluctance citing the Covid-19 pandemic. Nepal completed all its preparations last year itself. Humagain said if China had agreed, exports of citrus fruits to China would have already started since last 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"">Earlier, a similar agreement was signed between the two countries in 2012. The agreement at that time had a clause which stated that the fruits grown in disease-free, insect-free orchards. Exporters were expecting the trade to be easy this time as the fruits were required to be free from diseases and insects as mentioned in the agreement two years ago. However, China's tendency to negotiate and neglect implementation is seen to have complicated export procedures.</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"">After the implementation of Sweet Orange Super Zone in Nepal in the fiscal year 2073/74, the number of farmers cultivating oranges has increased. Varieties of citrus fruits are produced mostly in the hill districts of Nepal including Ramechhap, Sindhuli, Doti, Dandeldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta and Palpa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the National Citrus Development Program, Nepal produces about 177,000 metric tons of oranges, 39,500 metric tons of lemons and 43,000 metric tons of sweet oranges annually. Although citrus fruits are grown in about 56 districts of Nepal, commercial production is limited to 44 districts. Nepal's internal production meets 80 percent of domestic demand. The remaining 20 percent is imported from abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14776', 'image' => '20220403044004_tangarines.jpg', 'article_date' => '2022-04-03 16:39:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15033', 'article_category_id' => '1', 'title' => 'NOC says Fuel Supply will Ease from Today Afternoon', 'sub_title' => '', 'summary' => 'April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned oil monopoly made such appeal after reaching an understanding with dealers to resume the distribution of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NOC assured that the supply of petroleum products will become normal from Sunday afternoon after the two sides reached an understanding on Saturday evening (April 2).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson of NOC Pushkar Kumar Karki said that the petroleum dealers from across the country, including those in the Kathmandu valley, have already started demanding fuel from the NOC. He said that the dealers have started collecting fuel since 8 am today morning (April 3) and the supply of petroleum products is expected to ease from 3 pm.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Supply of petroleum products from different depots has already started from early morning. It might take some time to unload the fuel. The distribution of petroleum products will ease after 3 pm,” said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NOC, dealers from Kathmandu to Gandaki, Lumbini, Biratnagar and Amlekhgunj have already started collecting fuel from this morning. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu valley faced shortage of petrol and diesel on Saturday after the petrol dealers caused obstruction in transportation of fuel demanding a hike in commission a few days ago. Fearing shortage of petroleum products, a large number of people were seen in serpentine queue at fuel stations on Saturday.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14775', 'image' => '20220403030059_petrol-pump.jpg', 'article_date' => '2022-04-03 15:00:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15031', 'article_category_id' => '1', 'title' => 'Nepal, India Agree to Take Ahead Pancheshwor Project ', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides agreed to advance the project after they held the bilateral talks between visiting Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi in India on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even the detailed project report (DPR) has not be prepared despite the passage of two and half decade since the two countries signed the Mahakali Treaty. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Prime Minister Modi termed the Pancheshwor project a 'game changer project' and expressed commitment that the long-awaited project would be advanced hereafter. This announcement has given hope that DPR would be prepared now. The two countries were supposed to prepare the DPR within six months after signing the Mahakali Treaty.</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"">However, issues over sharing of water from the Mahakali River between Nepal and India has not been settled yet, according to Ministry of Energy, Water Resources and Irrigation. As per the Mahakali Treaty, both countries have agreed on five percent of water to be released for the livelihood of upper basin.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian PM reiterated that the Pancheshwor project stalled since a long time would be expedited. The Pancheshwor project is to be constructed with the joint investment of Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mega hydropower project aims to produce 1,480 MW electricity to benefit both the countries. </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"">Modi further said discussion was held on multi-dimensional relations between India and Nepal during the meeting with PM Deuba-led Nepali delegation. He also shared that both countries were ready to build partnership and cooperation in the energy sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other issues relating to energy and water resources including India assisting Nepal with the purchase of hydropower produced in Nepal and promotion of clean energy also figured in the high level meeting. -- RSS</span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14773', 'image' => '20220403010542_ROS_KTM_PMDEUBA_INDIA_VISIT_MODI_PRESSMEET.jpg', 'article_date' => '2022-04-03 13:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15030', 'article_category_id' => '1', 'title' => 'Nepal, India sign 4 Agreements during PM Deuba's State Visit', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.</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 two countries signed the agreements following a meeting between Prime Minister Deuba and his Indian counterpart Narendra Modi at Hyderabad House in New Delhi on Saturday (April 2).</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 agreements include Nepal's participation in international solar energy alliance, Indian technical support for Nepal's railway service sector, Indian assistance for fuel supply and technical support in the form of exchange of experts between Nepal Oil Corporation and Indian Oil Corporation. </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"">According to informed sources, the prime minister said that the two countries also discussed issues related to border disputes and their resolution through bilateral mechanism.</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"">“We discussed the border dispute and I urged Mr Modi to resolve the issue through bilateral mechanism,” the source quoted Deuba as saying.</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"">Meanwhile, prime ministers of both the countries jointly launched the Kurtha-Jaynagar cross-border rail link on the occasion. Similarly, PM Deuba and his Indian counterpart also inaugurated 132-KV Solu Corridor Transmission Line. The transmission line was constructed in Nepal with India's loan assistance of Rs 3.20 billion. </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"">During the meeting Prime Minister Deuba reportedly urged Modi to avail three additional air entry routes to Nepal.</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"">PM Deuba said during a press conference after the signing ceremony that his state visit was fruitful in holding discussion on various aspects of Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deuba also lauded the progress achieved by India under Prime Minister Modi's leadership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Praising the effective management carried out by India to control COVID-19 pandemic, PM Deuba extended gratitude towards India for its support to Nepal's battle against COVID-19. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14772', 'image' => '20220403111308_Flag-Pins-Nepal-India.jpg', 'article_date' => '2022-04-03 11:12:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15028', 'article_category_id' => '1', 'title' => 'Production of Cement and Iron Rods Declines by 50 Percent as Power Cut Hits Industries', 'sub_title' => '', 'summary' => 'April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. ', '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"">April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. The cement and rod industries say that they are compelled to lower the production in the main season when there is high demand.</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"">Generally, Nepal imports electricity from India in winter. But this time, there is a shortage of electricity in the Indian market itself. Due to the shortage of coal, the production of electricity has declined and prices have skyrocketed in India. At present, the NEA cannot purchase electricity at previous rates, and therefore it has been submitting proposals to buy electricity at an increased rate. Despite this, the supply of electricity to the industries is not enough to meet the demands.</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"">President of the Confederation of Nepalese Industries (CNI) Vishnu Agrawal said that the industries are not getting regular supply of electricity. He says that NEA should ensure regular supply of quality electricity regardless of the fluctuation of rate. </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 problem in power supply might discourage both domestic as well as foreign investors. The cost of production has gone up. The government and Nepal Electricity Authority should be responsible to resolve it,” said Agrawal.</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"">Similarly, Tara Prasad Pokhrel, vice-president of Cement Manufacturers' Association of Nepal, said that the industries are facing 12-13 hours of load shedding. Pokhrel said, “On the one hand, there is load shedding and on the other hand, the industry which needs 6 MW of electricity is getting only 3 MW. The industries are on the verge of closure due to non-availability of electricity.” He also said that as the production and sales cycle deteriorates due to non-availability of electricity, bank interest increases and causes liquidity crisis.</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"">He said that there has been no regularity in power supply for the last two years. “Production had already started to take place after Covid-19 slump. The issues with energy are arising again when development work has already started to pick up pace,” said Pokhrel. He said that the electricity goes to waste during the rainy season and industries reach the verge of closure due to scarcity of electricity during the winter.</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"">Pokhrel, who is also the managing director of Agni Cement, said that cement producers have reduced production by 50 percent due to lack of electricity. Although the charge of electricity is constant, industrialists are not able to get electricity. Pokhrel suggested that the government to build reservoir-based projects to solve such problems in the long run.</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"">Hari Neupane, chairman of Ambe Group said the power cuts at the rolling mills caused a lot of problems. Stating that industries are not getting regular electricity for some time now, he said that the factories have cut production by 50 percent. “There is no power. Even if we get electricity supply, it is not regular. Cement and rod industries are in a tight spot due to this reason. The demand cannot be reciprocated with the supply.” He said that they are unable to meet the high demand of the market since the production is low.</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 Nepal Electricity Authority (NEA) claims that the electricity supply to the industries as per the demand is halted only when it does not get the electricity at the proposed rate. NEA spokesperson Suresh Bahadur Bhattarai said that electricity is not provided only when the bid is rejected. Bhattarai said, “There is no load shedding situation as the industrialists said. We provided electricity regularly on Wednesday as well.”</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 recent conflict between Russia and Ukraine pushed up the prices of industrial raw materials in the international market. As the price of coal went up, there has been a problem in the supply of electricity to Nepal from India. Now the price of cement and rod has also gone up. The association informed that the prices of OPC and PPC cement have gone up by Rs 30 per sack.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As informed by Pokhrel, at present, the price of OPC cement has reached Rs 640 per sack and PPC cement Rs 540 per sack on average. He said that the price of cement has been affected due to the increase in the price of diesel even when the electricity charge was not increased. Meanwhile, the price of iron rods has gone up significantly as well. The price of rods, which was around 70/75 per kg, has now reached Rs 130 per kg.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14770', 'image' => '20220401031400_1635637400.jpg', 'article_date' => '2022-04-01 15:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15027', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about Abrupt Power Disruption', 'sub_title' => 'Urges stakeholders to end the chaotic situation and create conducive environment for running industries', 'summary' => 'April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Friday, the umbrella bodies of industrialists including the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) said that the irregular supply of electricity has caused serious problems in operating industries in the corridors of Butwal-Bhairahawa, Bara-Parsa, Sunsari-Morang and other industrial areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement says that the erratic supply of electricity in addition to low voltage and abrupt power disruption have prevented them from operating industries as per their regular schedule.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement further added that the abrupt power cuts have caused damages to machineries worth Rs millions. The industrialists also drew the attention of the government and the Nepal Electricity Authority (NEA) regarding problems in paying the employees and repayment of bank loans when the industries remain closed due to power outage. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector establishment reminded the NEA about its commitment to supply electricity at any cost. It may be noted that the NEA and its leadership have been pledging time and again that it would not disrupt electricity supply but their action is contrary to their promises.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists urged the NEA to provide uninterrupted supply of electricity by purchasing power from the Indian market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If that is not possible, the NEA should make public the schedule of power cuts,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists also expressed their concern regarding the double standard of NEA for requesting the public to increase electricity consumption when the NEA itself is responsible for hours-long power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also urged the stakeholders to end such chaotic situation and create a conducive environment of running industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14769', 'image' => '20220401024403_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2022-04-01 14:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15025', 'article_category_id' => '1', 'title' => 'Government Hikes Public Transportation Fares', 'sub_title' => '', 'summary' => 'April 1: The government has increased public transportation fares following the rise in prices of petroleum products.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: The government has increased public transportation fares following the rise in prices of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A ministerial-level decision taken by the Ministry of Physical Infrastructure and Transport has approved a hike in transportation fares within the provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Transport Management informed that the government has allowed transport entrepreneurs to increase the fare by 10 to 13 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, only long-route cargo vehicles transporting goods from one province to another have been allowed to hike the transportation fare, the department informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry is preparing to allow transport entrepreneurs to adjust the price under an automatic mechanism when the price of petroleum products fluctuates by 5 percent. The government had promised automatic pricing mechanism before but the decision has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had adjusted transportation fares on July 12, 2021. Since then, the price of diesel has increased by 34 percent, informed the department.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14767', 'image' => '20220401112815_1648740586.jpg', 'article_date' => '2022-04-01 11:27:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15024', 'article_category_id' => '1', 'title' => 'Finance Ministry Seeks Suggestions for Upcoming Budget ', 'sub_title' => '', 'summary' => 'April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year. The ministry has already launched a toll free number 1138 to collect suggestions and recommendations in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the public can make suggestions by calling at the toll free number during office hours. Provision has also been made to submit suggestions by clicking on 'Budget Suggestion' on the website of the ministry and also through email. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to make the budget and its programmes more effective and workable, the ministry believes that suggestions from industrialists, businessmen, intellectuals, politicians, social workers, professionals, media persons, general public and all stakeholders will be important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has already collected suggestions for policies and programmes as well as the upcoming budget from sectors like agriculture, education, banks, financial institutions and insurance, private sector, and economists. The ministry is organizing up to two discussions a week and has been collecting suggestions on the budget from experts in various fields and from other stakeholders. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14766', 'image' => '20220401082319_fin.jpg', 'article_date' => '2022-04-01 08:22:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15021', 'article_category_id' => '1', 'title' => 'NRB Extends Operation Time of RTGS System', 'sub_title' => '', 'summary' => 'March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. ', '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"">March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. </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"">Issuing a notice on Wednesday, Nepal Rastra Bank (NRB) informed that the new trading hours will be implemented from May 15. According to the notice, transactions can be done from 9 am to 5 pm from Sunday to Thursday from January 30 to November 1. The system will be operational from 9 am to 4 pm from November 2 to January 29. On Fridays, transactions can be done from 9 am to 1:30 pm. </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"">Currently, RTGS system can be used to transact more than Rs 200,000 electronically. Currently, banks and financial institutions are using RTGS for most of the electronic payments.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, Rs 3.13 trillion was transacted through RTGS in January 2022 alone. A total of Rs 57.64 billion was transacted through this system in the previous 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"">Recently, the government and NRB have discouraged cash transactions and given priority to electronic payments. The general public is also attracted to the use of electronic payments such as mobile wallets, cards, mobile banking and connect IPS. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14765', 'image' => '20220331013405_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-31 13:33:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15023', 'article_category_id' => '1', 'title' => 'Pashupati Biscuits Shut Down Temporarily due to Illegal Imports of Biscuits from India', 'sub_title' => '', 'summary' => 'March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days.', '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"">March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days. The industry halted manufacturing after issuing a notice stating that stocks are high and market demand is low. Due to the increase in illegal import of biscuits from India via the open border, there has been a decline in the demand of domestic biscuits in the country.</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"">Bharat Silwal, head of administration of the industry, said that even if production is stopped temporarily, biscuits in stock will continue to be sold in the market and the industry’s branches will operate as usual. Silwal said that the production of Nepali biscuits had to be stopped for a few days due to the problem in power supply, rising prices of raw materials including ghee and the decline in demand in the market due to illegal imports of Indian biscuits. He informed that the production has been stopped for a few days as there is a stock of 60,000 cartoons of biscuits.</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"">This is the first time the industry has been shut down by publishing a public notice. The industry was established 48 years ago in 1973 by Lunkarandas Chaudhary, the founder of Chaudhary Group. Pashupati Biscuits, which opened during the golden age of the establishment of industry in the Sunsari-Morang Industrial Corridor, dominated the Nepali market by about 80 percent. Pashupati Biscuits currently belongs to Basant Chaudhary. Even if the industry is said to be closed temporarily, it may have long-term implications as the market is shrinking and raw materials are becoming more expensive, according to an informed source. The source also said, “Not only Pashupati Biscuits, about 50 percent of the industries will likely be shut down if the current situation persists.”</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"">Silwal informed that the production of the industry will be stopped for 15 days as per Article 15 of the Labor Act 2074 BS. The notice read, “If the industry is to be fully or partially operated during that period, advance notice will be given. The work related to administration, security, accounting and sales department will be carried out as per the need.”</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"">Silwal said that the production has been postponed as per the rules with the approval of the Labor and Employment Office. He reminded that the industry was operating for 24 hours during the lockdown period and before that as well. He added that the operation of the industry had to be reduced to eight hours as it was difficult to compete with the illegally imported biscuits from India after the prohibitory orders were lifted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Silwal, even though the industry was in operation for 8 hours, they haven’t received any new orders. He said, “All the warehouses of the industry are full of manufactured goods. Millions of biscuits have to be stored in the warehouse. We are also facing problems in collecting money from the market. If someone has to pay Rs 1 million, we are able to collect just Rs 25,000. How can the industry be run in such a situation?”</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"">Silwal said that the industry is planning to explore all possible ways to sell the goods stored in the warehouses within 15 days and to collect all the remaining dues.</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""> “It is not possible to operate an industry without reducing the stock of goods,” said Silwal.</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""> Hira Yadav, president of industry unit of Nepal Trade Union Congress (NTUC), confirmed that industry has been shut down. Yadav said, “The industry closed down as per the rules after paying everyone. None of us are left to receive any due payment. We are hopeful that the production will resume soon.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14764', 'image' => '20220401091111_1648702680.पशुपति_बिस्कुट_उद्योग.jpg', 'article_date' => '2022-03-31 14:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15022', 'article_category_id' => '1', 'title' => 'PM’s India Visit to Focus on Electricity Trade and JV Projects', 'sub_title' => '', 'summary' => 'March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. ', '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"">March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. It is said that the PM has given special attention on the agenda of electricity trade and building hydropower projects in Nepal with joint investment from India.</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"">Deuba is scheduled to leave for India on Friday (April 1) for a three-day official visit. According to the officials of the Ministry of Energy, Water Resources, and Irrigation, the energy-related agenda are in high priority list of the incumbent government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a government source, the preliminary agenda of the visit has been decided to discuss the energy issue with India.</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 Nepal-India energy meeting held in Kathmandu a month ago also discussed the electricity trade and the construction of hydropower projects with joint ventures. This issue will also be given priority during the Prime Minister's visit to India.</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"">During the visit, Prime Minister Deuba and Indian Prime Minister Narendra Modi will jointly inaugurate the Solu Corridor 132 KV double circuit transmission line from New Delhi, the capital of India, the ministry 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"">On Saturday, the Prime Ministers of both the countries will jointly inaugurate the project through a virtual medium by pressing switch remotely. The construction of the project was completed last December. Now the project is ready be inaugurated and brought into operation. The length of the transmission line from Siraha to Solukhombu via Udayapur and Okhaldhunga is 90 kilometers with 302 towers.</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 project has been built with the investment of the Government of Nepal and a loan from the Export-Import (Exim) Bank of India. India's Mohan Energy Company was awarded the contract to build the project. There were various obstacles during the construction of the project, which was completed last December.</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"">After the project comes into operation, the electricity of the project including Solu Khola with a capacity of 23.5 MW will be connected to the national grid. Most of the projects in the area have not been able to generate electricity due to a lack of transmission lines. It is said that the problem will be solved after the project comes into operation.</span></span></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14763', 'image' => '20220331015201_ROS_KTM-4701.JPG', 'article_date' => '2022-03-31 13:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15020', 'article_category_id' => '1', 'title' => 'All Ministries urged to Submit their Plans for New Budget within 7 Days', 'sub_title' => '', 'summary' => 'March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.', '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"">March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.</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"">During the discussion programme, Finance Minister Janardan Sharma directed the federal, state and local levels to submit their action plans and policies for the upcoming fiscal year within the seven days.</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"">He also instructed not to submit fragmented plans for the upcoming fiscal year. He said that there is a tendency of federal levels to include fragmented plans in the federal budget and skip the work during implementation phase and directed the ministers not to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma has asked all ministries and agencies to submit a plan to reduce current expenditure for the upcoming budget. He said that the progress of the national pride and game changer projects was disappointing, and added that the pace of construction of the national pride projects was very slow. He also emphasized on a budget focused on economic prosperity through increasing production and employment.</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"">During the discussion, Finance Secretary Madhu Kumar Marasini suggested the ministries to present their budget programmes within the limits of financial discipline considering the limited resources of the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14762', 'image' => '20220331010945_1648651431.jpg', 'article_date' => '2022-03-31 13:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15018', 'article_category_id' => '1', 'title' => 'Government Unlikely to Achieve 7 Percent Growth Target ', 'sub_title' => '', 'summary' => 'March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79).', '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"">March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79). Finance Minister Janardan Sharma, who did not change the economic growth target even in the mid-term review of the current fiscal year's budget, admitted that the target would not be achieved. </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 economic growth of above 7 percent was not announced just for the sake of speech, it was meant to be achieved. However, due to the damage caused by the floods and landslides in the agricultural sector in June/July, and the unexpected fluctuations in the international geo-politics, the economic growth rate cannot be achieved," he said at a program in the capital on Tuesday. </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"">Finance Minister Sharma said that the country is poor despite being rich in resources and they are making efforts to move towards prosperity through institutional strengthening. "There is a structural problem, and there can be no qualitative improvement without improving the systemic problem. So we are focused towards achieving that end," 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"">According to him, the country does not have any policy regarding research and investigation. Further, he said that they are making an effort to bring a budget that emphasises on import replacement and increasing production to eliminate the problem of trade deficit and unemployment. According to him, they are preparing to redefine the projects of national pride. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><em><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dozens of suggestions for the budget</span></span></em></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"">Economists, industrialists, bankers and others have given dozens of suggestions, ranging from the recent government-controlled cryptocurrencies to the opening of a policy research center for the budget for the coming 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"">Stating that the new type of digital business has added a challenge to the economy, they have suggested that it should be regulated rather than banned. </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"">Speaking at a discussion program organized in Kathmandu on Tuesday in collaboration between Nepal Economic Association, Confederation of Banks and Financial Institutions Nepal and the Ministry of Finance, economist Dr. Bishwambher Pyakurel said the latest index shows the country's economic situation is not good. </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"">He said that although there may be investment in cryptocurrency due to lack of liquidity, there is no study or research on it. </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"">"It looks like the Nepal Rastra Bank and the CIB have signed the contract. There is no proper study from the government level. Other countries have started keeping statistics of investment in crypto. It is necessary to rethink about cryptocurrency," he said. Stating that public debt is increasing in Nepal, he said that with the increase in debt at the rate of 4-5 percent of GDP every year, it seems that Nepal is heading towards the crisis faced by Sri Lanka. </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"">He emphasized that the upcoming budget should be aimed at reducing poverty and budget deficit. Economist Keshav Acharya said that imbalance of payments and inflation were the major problems in the economy. Stating that freight rates have increased due to the Russia-Ukraine war, he suggested that Nepal should now review the foreign exchange rate as well. "It has been 31 years that the foreign exchange rate hasn't been changed. Now we have to think about changing it." </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"">He suggested the government to limit the number of national pride projects and added that the donors should waive the installment during the difficult period that the country is going through.</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"">He further said that the budget should be prepared in such a way as to provide subsidies to the farmers on the basis of productivity. </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"">Professor Dr Govinda Nepal said that the upcoming budget should be able to create road access to every municipality. "It is necessary to open basic health posts in every municipality and residential school in every district that can accommodate children of at least 2,000 poor people," he said. According to him, the government should now open a policy research center, in which it is necessary to invest Rs 50 million every 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"">Similarly, economist Posharaj Pandey said that the upcoming budget in the post-Covid-19 period should be able to create employment along with economic recovery. He alleged that the Ministry of Finance has become a body to collect revenue and buy votes. </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"">Finance Secretary Madhu Marasini said that the upcoming budget will focus on creating production and employment in the country. He said that the current problems in the economy are unpredictable and they will move ahead by handling the situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14760', 'image' => '20220330055409_Inflation.jpg', 'article_date' => '2022-03-30 17:53:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15017', 'article_category_id' => '1', 'title' => 'Sunsari-Morang Industrial Corridor Facing Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day.', '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"">March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day. Industrialists have cried foul to the power cuts to the industry, which is already reeling under liquidity crisis, rising interest rates, and the crisis in Ukraine.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the industrialists of the corridor, the Nepal Electricity Authority (NEA) has cut off electricity supply to industries consuming more than one megawatt of electricity on the pretext that it has not been able to import electricity from India due to high cost.</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 Morang Trade Association, Chamber of Industries Morang, and Province 1 chapter of the Confederation of Nepalese Industries held a joint press conference on Tuesday and expressed outrage over the NEA's unusual behavior. They accused the government of conspiring to bring the private sector back to the state of 10 years ago under various pretexts. </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"">Meanwhile, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said in a press release that the 14-hour power outage in the industrial sector had unexpectedly reduced production, left workers unemployed, and also resulted in failure to pay the bank interest on time. The federation has urged to resolve the issue immediately as it will also affect the government’s revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at the joint press conference, Navin Rijal, president of the Morang Trade Association, said that the industrialists were affected twice when the NEA increased the price of electricity and the Nepal Oil Corporation increased the price of diesel. He said that the industrialists should be able to buy diesel at reasonable charges when the price of electricity goes up, and the price of electricity should go down when the price of diesel goes up.</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"">Rijal argues that the state should ease the current situation by reducing unnecessary expenditure.</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"">He said that there is no need to worry when the banks’ profit declines. According to Rijal, the interest rate should be maintained at 6 percent and Rs 40 billion savings should be brought to the market.</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"">Chairman of the Chamber of Industries Morang, Suyash Raj Pyakurel, said that the NEA has acted strangely by urging them to increase electricity consumption but has cut the supply after 12 noon.</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"">He said that the government should not force the industrialists to buy electricity at expensive rate. He said that the state should not back off saying that there is a problem. “It should seek appropriate solution immediately."</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"">Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, complained that industries were shutting down due to a lack of electricity, high interest rate of banks, and liquidity crisis.</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"">He said that the government should find a timely solution to this problem as the workers would be left unemployed when the industry is shut down, they would not be able to pay the bank installments on time and the government would not be able to levy taxes.</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"">Constituent Assembly member and former president of the Morang Trade Association Pawan Kumar Sharda said that the government had deceived the industrialists and businessmen. He said that the double standard of the banks and the government has worked to bring the industrial sector back to the level it was 10 years ago. </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 banks give loans to the industry but they increase the interest rate unbearably. The government pledges electricity but cuts the supply when the plant is set up. This has put the industrialists in debt trap," he said. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14759', 'image' => '20220330051709_c1d0e043-electricity.jpg', 'article_date' => '2022-03-30 17:16:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15016', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Affected by Excessive Price Hike', 'sub_title' => '', 'summary' => 'March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials.', '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"">March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials. </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"">FCAN members made such remark during a press conference organized on Tuesday to announce the decision of the national meeting held on March 28. During the press conference, president of the federation, Ravi Singh said that the construction works cannot be carried out in the current situation.</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"">Singh warned that if the decisions taken by the National Assembly on price control are not implemented within the next week, the federation would be forced to launch stern protests. He said that along with the sharp rise in prices of construction materials, their shortage as well as their black marketing has started as well.</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 federation has demanded the Public Procurement Monitoring Office to immediately issue Technical Guidelines No 2 similar to that of 2065 BS for the entrepreneurs to make inflation adjustment in all the projects in line with the Public Procurement Act, 2063 BS. President Singh said that the government of Nepal should declare a 'construction holiday' until the price rise is not controlled. The federation has requested to make the construction industry of the country systematic and dignified by correcting the errors of 11th amendment to the Public Procurement Rules, 2064 BS.</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"">Similarly, president Singh stated that all the projects should be given an extension of one year since it is not possible to complete the construction works by mid-April this year due to the price hike caused by Covid-19 pandemic. </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 addition, the federation has also demanded a one-time waiver of value-added tax and income tax for the contractors who have been affected by the pandemic. </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"">At the press conference, Senior Vice President of the federation, Aang Dorji Lama, General Secretary Roshan Dahal and Deputy Secretary General for Policy Shivahari Ghimire said that the media can play an important role in solving the problems of the construction industry.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14758', 'image' => '20220330042113_construction.jpg', 'article_date' => '2022-03-30 16:20:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Due to the negligence of the Chinese government in the implementation of the agreement, citrus fruits could not be exported to China. Concerned authorities said that even though Nepal completed all the procedures to export citrus fruits to China in trial phase last year, Beijing did not show any interest in implementing the agreement on the pretext of growing Covid-19 cases.</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"">Secretary at the Ministry of Agriculture and Livestock Development, Govinda Prasad Sharma said that China has not accepted citrus fruits from Nepal even though Nepal has met all the criteria including quarantine, proper management of diseases, and packaging. According to Sharma, Nepal has already registered the producers’ farms and also facilitated coordination between orange producers, traders and Chinese agents for the exports. However, the process did not move forward as the Chinese government did not agree for the export.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Sahadev Humagain, head of the Center for Plant Quarantine and Pesticide Management, the process of export has not moved forward due to China’s reluctance citing the Covid-19 pandemic. Nepal completed all its preparations last year itself. Humagain said if China had agreed, exports of citrus fruits to China would have already started since last 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"">Earlier, a similar agreement was signed between the two countries in 2012. The agreement at that time had a clause which stated that the fruits grown in disease-free, insect-free orchards. Exporters were expecting the trade to be easy this time as the fruits were required to be free from diseases and insects as mentioned in the agreement two years ago. However, China's tendency to negotiate and neglect implementation is seen to have complicated export procedures.</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"">After the implementation of Sweet Orange Super Zone in Nepal in the fiscal year 2073/74, the number of farmers cultivating oranges has increased. Varieties of citrus fruits are produced mostly in the hill districts of Nepal including Ramechhap, Sindhuli, Doti, Dandeldhura, Baitadi, Okhaldhunga, Lamjung, Dhankuta and Palpa.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the National Citrus Development Program, Nepal produces about 177,000 metric tons of oranges, 39,500 metric tons of lemons and 43,000 metric tons of sweet oranges annually. Although citrus fruits are grown in about 56 districts of Nepal, commercial production is limited to 44 districts. Nepal's internal production meets 80 percent of domestic demand. The remaining 20 percent is imported from abroad.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14776', 'image' => '20220403044004_tangarines.jpg', 'article_date' => '2022-04-03 16:39:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '15033', 'article_category_id' => '1', 'title' => 'NOC says Fuel Supply will Ease from Today Afternoon', 'sub_title' => '', 'summary' => 'April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 3: Nepal Oil Corporation has urged the general public not to queue at fuel stations to fill petrol/diesel unless absolutely necessarily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The state-owned oil monopoly made such appeal after reaching an understanding with dealers to resume the distribution of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">NOC assured that the supply of petroleum products will become normal from Sunday afternoon after the two sides reached an understanding on Saturday evening (April 2).</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Deputy Spokesperson of NOC Pushkar Kumar Karki said that the petroleum dealers from across the country, including those in the Kathmandu valley, have already started demanding fuel from the NOC. He said that the dealers have started collecting fuel since 8 am today morning (April 3) and the supply of petroleum products is expected to ease from 3 pm.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“Supply of petroleum products from different depots has already started from early morning. It might take some time to unload the fuel. The distribution of petroleum products will ease after 3 pm,” said Karki. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">According to the NOC, dealers from Kathmandu to Gandaki, Lumbini, Biratnagar and Amlekhgunj have already started collecting fuel from this morning. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu valley faced shortage of petrol and diesel on Saturday after the petrol dealers caused obstruction in transportation of fuel demanding a hike in commission a few days ago. Fearing shortage of petroleum products, a large number of people were seen in serpentine queue at fuel stations on Saturday.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14775', 'image' => '20220403030059_petrol-pump.jpg', 'article_date' => '2022-04-03 15:00:19', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '15031', 'article_category_id' => '1', 'title' => 'Nepal, India Agree to Take Ahead Pancheshwor Project ', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have finally agreed to take ahead the Pancheshwor Multi-purpose Hydropower Project, which has been left undecided for a long time since signing the Mahakali Treaty between the two countries. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The two sides agreed to advance the project after they held the bilateral talks between visiting Prime Minister Sher Bahadur Deuba and Indian Prime Minister Narendra Modi in India on Saturday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Even the detailed project report (DPR) has not be prepared despite the passage of two and half decade since the two countries signed the Mahakali Treaty. </span></span></span><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Indian Prime Minister Modi termed the Pancheshwor project a 'game changer project' and expressed commitment that the long-awaited project would be advanced hereafter. This announcement has given hope that DPR would be prepared now. The two countries were supposed to prepare the DPR within six months after signing the Mahakali Treaty.</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"">However, issues over sharing of water from the Mahakali River between Nepal and India has not been settled yet, according to Ministry of Energy, Water Resources and Irrigation. As per the Mahakali Treaty, both countries have agreed on five percent of water to be released for the livelihood of upper basin.</span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Indian PM reiterated that the Pancheshwor project stalled since a long time would be expedited. The Pancheshwor project is to be constructed with the joint investment of Nepal and India. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The mega hydropower project aims to produce 1,480 MW electricity to benefit both the countries. </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"">Modi further said discussion was held on multi-dimensional relations between India and Nepal during the meeting with PM Deuba-led Nepali delegation. He also shared that both countries were ready to build partnership and cooperation in the energy sector. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Other issues relating to energy and water resources including India assisting Nepal with the purchase of hydropower produced in Nepal and promotion of clean energy also figured in the high level meeting. -- RSS</span></span></span></p> <p><br /> <br /> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14773', 'image' => '20220403010542_ROS_KTM_PMDEUBA_INDIA_VISIT_MODI_PRESSMEET.jpg', 'article_date' => '2022-04-03 13:04:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '15030', 'article_category_id' => '1', 'title' => 'Nepal, India sign 4 Agreements during PM Deuba's State Visit', 'sub_title' => '', 'summary' => 'April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 3: Nepal and India have signed four different agreements for mutual cooperation and collaboration during Prime Minister Sher Bahadur Deuba's state visit to India.</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 two countries signed the agreements following a meeting between Prime Minister Deuba and his Indian counterpart Narendra Modi at Hyderabad House in New Delhi on Saturday (April 2).</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 agreements include Nepal's participation in international solar energy alliance, Indian technical support for Nepal's railway service sector, Indian assistance for fuel supply and technical support in the form of exchange of experts between Nepal Oil Corporation and Indian Oil Corporation. </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"">According to informed sources, the prime minister said that the two countries also discussed issues related to border disputes and their resolution through bilateral mechanism.</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"">“We discussed the border dispute and I urged Mr Modi to resolve the issue through bilateral mechanism,” the source quoted Deuba as saying.</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"">Meanwhile, prime ministers of both the countries jointly launched the Kurtha-Jaynagar cross-border rail link on the occasion. Similarly, PM Deuba and his Indian counterpart also inaugurated 132-KV Solu Corridor Transmission Line. The transmission line was constructed in Nepal with India's loan assistance of Rs 3.20 billion. </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"">During the meeting Prime Minister Deuba reportedly urged Modi to avail three additional air entry routes to Nepal.</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"">PM Deuba said during a press conference after the signing ceremony that his state visit was fruitful in holding discussion on various aspects of Nepal-India relations. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Deuba also lauded the progress achieved by India under Prime Minister Modi's leadership. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Praising the effective management carried out by India to control COVID-19 pandemic, PM Deuba extended gratitude towards India for its support to Nepal's battle against COVID-19. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-04-03', 'modified' => '2022-04-03', 'keywords' => '', 'description' => '', 'sortorder' => '14772', 'image' => '20220403111308_Flag-Pins-Nepal-India.jpg', 'article_date' => '2022-04-03 11:12:20', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '15028', 'article_category_id' => '1', 'title' => 'Production of Cement and Iron Rods Declines by 50 Percent as Power Cut Hits Industries', 'sub_title' => '', 'summary' => 'April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. ', '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"">April 1: Just when the cement and rod industries finally started gaining momentum after a long gap due to Covid-19, they are again facing crisis because of loadshedding. The cement and rod industries say that they are compelled to lower the production in the main season when there is high demand.</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"">Generally, Nepal imports electricity from India in winter. But this time, there is a shortage of electricity in the Indian market itself. Due to the shortage of coal, the production of electricity has declined and prices have skyrocketed in India. At present, the NEA cannot purchase electricity at previous rates, and therefore it has been submitting proposals to buy electricity at an increased rate. Despite this, the supply of electricity to the industries is not enough to meet the demands.</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"">President of the Confederation of Nepalese Industries (CNI) Vishnu Agrawal said that the industries are not getting regular supply of electricity. He says that NEA should ensure regular supply of quality electricity regardless of the fluctuation of rate. </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 problem in power supply might discourage both domestic as well as foreign investors. The cost of production has gone up. The government and Nepal Electricity Authority should be responsible to resolve it,” said Agrawal.</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"">Similarly, Tara Prasad Pokhrel, vice-president of Cement Manufacturers' Association of Nepal, said that the industries are facing 12-13 hours of load shedding. Pokhrel said, “On the one hand, there is load shedding and on the other hand, the industry which needs 6 MW of electricity is getting only 3 MW. The industries are on the verge of closure due to non-availability of electricity.” He also said that as the production and sales cycle deteriorates due to non-availability of electricity, bank interest increases and causes liquidity crisis.</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"">He said that there has been no regularity in power supply for the last two years. “Production had already started to take place after Covid-19 slump. The issues with energy are arising again when development work has already started to pick up pace,” said Pokhrel. He said that the electricity goes to waste during the rainy season and industries reach the verge of closure due to scarcity of electricity during the winter.</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"">Pokhrel, who is also the managing director of Agni Cement, said that cement producers have reduced production by 50 percent due to lack of electricity. Although the charge of electricity is constant, industrialists are not able to get electricity. Pokhrel suggested that the government to build reservoir-based projects to solve such problems in the long run.</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"">Hari Neupane, chairman of Ambe Group said the power cuts at the rolling mills caused a lot of problems. Stating that industries are not getting regular electricity for some time now, he said that the factories have cut production by 50 percent. “There is no power. Even if we get electricity supply, it is not regular. Cement and rod industries are in a tight spot due to this reason. The demand cannot be reciprocated with the supply.” He said that they are unable to meet the high demand of the market since the production is low.</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 Nepal Electricity Authority (NEA) claims that the electricity supply to the industries as per the demand is halted only when it does not get the electricity at the proposed rate. NEA spokesperson Suresh Bahadur Bhattarai said that electricity is not provided only when the bid is rejected. Bhattarai said, “There is no load shedding situation as the industrialists said. We provided electricity regularly on Wednesday as well.”</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 recent conflict between Russia and Ukraine pushed up the prices of industrial raw materials in the international market. As the price of coal went up, there has been a problem in the supply of electricity to Nepal from India. Now the price of cement and rod has also gone up. The association informed that the prices of OPC and PPC cement have gone up by Rs 30 per sack.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">As informed by Pokhrel, at present, the price of OPC cement has reached Rs 640 per sack and PPC cement Rs 540 per sack on average. He said that the price of cement has been affected due to the increase in the price of diesel even when the electricity charge was not increased. Meanwhile, the price of iron rods has gone up significantly as well. The price of rods, which was around 70/75 per kg, has now reached Rs 130 per kg.</span></span></span></span></p> <p><br /> <br /> <br /> <br /> <br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14770', 'image' => '20220401031400_1635637400.jpg', 'article_date' => '2022-04-01 15:13:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '15027', 'article_category_id' => '1', 'title' => 'Private Sector Concerned about Abrupt Power Disruption', 'sub_title' => 'Urges stakeholders to end the chaotic situation and create conducive environment for running industries', 'summary' => 'April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: Private sector stakeholders have expressed concern regarding the irregular supply of electricity to the industrial areas in recent days.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Issuing a joint statement on Friday, the umbrella bodies of industrialists including the Federation of Nepalese Chambers of Commerce and Industries (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) said that the irregular supply of electricity has caused serious problems in operating industries in the corridors of Butwal-Bhairahawa, Bara-Parsa, Sunsari-Morang and other industrial areas.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement says that the erratic supply of electricity in addition to low voltage and abrupt power disruption have prevented them from operating industries as per their regular schedule.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The statement further added that the abrupt power cuts have caused damages to machineries worth Rs millions. The industrialists also drew the attention of the government and the Nepal Electricity Authority (NEA) regarding problems in paying the employees and repayment of bank loans when the industries remain closed due to power outage. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The private sector establishment reminded the NEA about its commitment to supply electricity at any cost. It may be noted that the NEA and its leadership have been pledging time and again that it would not disrupt electricity supply but their action is contrary to their promises.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists urged the NEA to provide uninterrupted supply of electricity by purchasing power from the Indian market. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">“If that is not possible, the NEA should make public the schedule of power cuts,” reads the statement.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The industrialists also expressed their concern regarding the double standard of NEA for requesting the public to increase electricity consumption when the NEA itself is responsible for hours-long power cuts.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The joint statement also urged the stakeholders to end such chaotic situation and create a conducive environment of running industries.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14769', 'image' => '20220401024403_Classification-of-Overhead-Transmission-lines-1.jpg', 'article_date' => '2022-04-01 14:43:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '15025', 'article_category_id' => '1', 'title' => 'Government Hikes Public Transportation Fares', 'sub_title' => '', 'summary' => 'April 1: The government has increased public transportation fares following the rise in prices of petroleum products.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">April 1: The government has increased public transportation fares following the rise in prices of petroleum products.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">A ministerial-level decision taken by the Ministry of Physical Infrastructure and Transport has approved a hike in transportation fares within the provinces. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The Department of Transport Management informed that the government has allowed transport entrepreneurs to increase the fare by 10 to 13 percent.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">Meanwhile, only long-route cargo vehicles transporting goods from one province to another have been allowed to hike the transportation fare, the department informed.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The ministry is preparing to allow transport entrepreneurs to adjust the price under an automatic mechanism when the price of petroleum products fluctuates by 5 percent. The government had promised automatic pricing mechanism before but the decision has not been implemented.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:15.0pt"><span style="font-family:"Arial","sans-serif"">The government had adjusted transportation fares on July 12, 2021. Since then, the price of diesel has increased by 34 percent, informed the department.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14767', 'image' => '20220401112815_1648740586.jpg', 'article_date' => '2022-04-01 11:27:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '15024', 'article_category_id' => '1', 'title' => 'Finance Ministry Seeks Suggestions for Upcoming Budget ', 'sub_title' => '', 'summary' => 'April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">April 1: The Ministry of Finance has requested all stakeholders to provide their suggestions for drafting the budget for the upcoming fiscal year. The ministry has already launched a toll free number 1138 to collect suggestions and recommendations in this regard. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the ministry, the public can make suggestions by calling at the toll free number during office hours. Provision has also been made to submit suggestions by clicking on 'Budget Suggestion' on the website of the ministry and also through email. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">In order to make the budget and its programmes more effective and workable, the ministry believes that suggestions from industrialists, businessmen, intellectuals, politicians, social workers, professionals, media persons, general public and all stakeholders will be important. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The ministry has already collected suggestions for policies and programmes as well as the upcoming budget from sectors like agriculture, education, banks, financial institutions and insurance, private sector, and economists. The ministry is organizing up to two discussions a week and has been collecting suggestions on the budget from experts in various fields and from other stakeholders. </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-04-01', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14766', 'image' => '20220401082319_fin.jpg', 'article_date' => '2022-04-01 08:22:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '15021', 'article_category_id' => '1', 'title' => 'NRB Extends Operation Time of RTGS System', 'sub_title' => '', 'summary' => 'March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. ', '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"">March 31: Nepal Rastra Bank has extended the time period for the operation of Real Time Gross Settlement (RTGS) system due to the increase in transactions through the system. </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"">Issuing a notice on Wednesday, Nepal Rastra Bank (NRB) informed that the new trading hours will be implemented from May 15. According to the notice, transactions can be done from 9 am to 5 pm from Sunday to Thursday from January 30 to November 1. The system will be operational from 9 am to 4 pm from November 2 to January 29. On Fridays, transactions can be done from 9 am to 1:30 pm. </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"">Currently, RTGS system can be used to transact more than Rs 200,000 electronically. Currently, banks and financial institutions are using RTGS for most of the electronic payments.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the central bank, Rs 3.13 trillion was transacted through RTGS in January 2022 alone. A total of Rs 57.64 billion was transacted through this system in the previous 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"">Recently, the government and NRB have discouraged cash transactions and given priority to electronic payments. The general public is also attracted to the use of electronic payments such as mobile wallets, cards, mobile banking and connect IPS. </span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14765', 'image' => '20220331013405_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-31 13:33:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '15023', 'article_category_id' => '1', 'title' => 'Pashupati Biscuits Shut Down Temporarily due to Illegal Imports of Biscuits from India', 'sub_title' => '', 'summary' => 'March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days.', '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"">March 31: Pashupati Biscuits, the first industry of the Chaudhary Group, has been shut down for 15 days. The industry halted manufacturing after issuing a notice stating that stocks are high and market demand is low. Due to the increase in illegal import of biscuits from India via the open border, there has been a decline in the demand of domestic biscuits in the country.</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"">Bharat Silwal, head of administration of the industry, said that even if production is stopped temporarily, biscuits in stock will continue to be sold in the market and the industry’s branches will operate as usual. Silwal said that the production of Nepali biscuits had to be stopped for a few days due to the problem in power supply, rising prices of raw materials including ghee and the decline in demand in the market due to illegal imports of Indian biscuits. He informed that the production has been stopped for a few days as there is a stock of 60,000 cartoons of biscuits.</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"">This is the first time the industry has been shut down by publishing a public notice. The industry was established 48 years ago in 1973 by Lunkarandas Chaudhary, the founder of Chaudhary Group. Pashupati Biscuits, which opened during the golden age of the establishment of industry in the Sunsari-Morang Industrial Corridor, dominated the Nepali market by about 80 percent. Pashupati Biscuits currently belongs to Basant Chaudhary. Even if the industry is said to be closed temporarily, it may have long-term implications as the market is shrinking and raw materials are becoming more expensive, according to an informed source. The source also said, “Not only Pashupati Biscuits, about 50 percent of the industries will likely be shut down if the current situation persists.”</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"">Silwal informed that the production of the industry will be stopped for 15 days as per Article 15 of the Labor Act 2074 BS. The notice read, “If the industry is to be fully or partially operated during that period, advance notice will be given. The work related to administration, security, accounting and sales department will be carried out as per the need.”</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"">Silwal said that the production has been postponed as per the rules with the approval of the Labor and Employment Office. He reminded that the industry was operating for 24 hours during the lockdown period and before that as well. He added that the operation of the industry had to be reduced to eight hours as it was difficult to compete with the illegally imported biscuits from India after the prohibitory orders were lifted.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to Silwal, even though the industry was in operation for 8 hours, they haven’t received any new orders. He said, “All the warehouses of the industry are full of manufactured goods. Millions of biscuits have to be stored in the warehouse. We are also facing problems in collecting money from the market. If someone has to pay Rs 1 million, we are able to collect just Rs 25,000. How can the industry be run in such a situation?”</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"">Silwal said that the industry is planning to explore all possible ways to sell the goods stored in the warehouses within 15 days and to collect all the remaining dues.</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""> “It is not possible to operate an industry without reducing the stock of goods,” said Silwal.</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""> Hira Yadav, president of industry unit of Nepal Trade Union Congress (NTUC), confirmed that industry has been shut down. Yadav said, “The industry closed down as per the rules after paying everyone. None of us are left to receive any due payment. We are hopeful that the production will resume soon.”</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-04-01', 'keywords' => '', 'description' => '', 'sortorder' => '14764', 'image' => '20220401091111_1648702680.पशुपति_बिस्कुट_उद्योग.jpg', 'article_date' => '2022-03-31 14:33:10', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '15022', 'article_category_id' => '1', 'title' => 'PM’s India Visit to Focus on Electricity Trade and JV Projects', 'sub_title' => '', 'summary' => 'March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. ', '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"">March 31: Prime Minister Sher Bahadur Deuba will discuss issues related to energy during his official visit to India. It is said that the PM has given special attention on the agenda of electricity trade and building hydropower projects in Nepal with joint investment from India.</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"">Deuba is scheduled to leave for India on Friday (April 1) for a three-day official visit. According to the officials of the Ministry of Energy, Water Resources, and Irrigation, the energy-related agenda are in high priority list of the incumbent government.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to a government source, the preliminary agenda of the visit has been decided to discuss the energy issue with India.</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 Nepal-India energy meeting held in Kathmandu a month ago also discussed the electricity trade and the construction of hydropower projects with joint ventures. This issue will also be given priority during the Prime Minister's visit to India.</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"">During the visit, Prime Minister Deuba and Indian Prime Minister Narendra Modi will jointly inaugurate the Solu Corridor 132 KV double circuit transmission line from New Delhi, the capital of India, the ministry 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"">On Saturday, the Prime Ministers of both the countries will jointly inaugurate the project through a virtual medium by pressing switch remotely. The construction of the project was completed last December. Now the project is ready be inaugurated and brought into operation. The length of the transmission line from Siraha to Solukhombu via Udayapur and Okhaldhunga is 90 kilometers with 302 towers.</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 project has been built with the investment of the Government of Nepal and a loan from the Export-Import (Exim) Bank of India. India's Mohan Energy Company was awarded the contract to build the project. There were various obstacles during the construction of the project, which was completed last December.</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"">After the project comes into operation, the electricity of the project including Solu Khola with a capacity of 23.5 MW will be connected to the national grid. Most of the projects in the area have not been able to generate electricity due to a lack of transmission lines. It is said that the problem will be solved after the project comes into operation.</span></span></span></span></p> <p><br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14763', 'image' => '20220331015201_ROS_KTM-4701.JPG', 'article_date' => '2022-03-31 13:51:17', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '15020', 'article_category_id' => '1', 'title' => 'All Ministries urged to Submit their Plans for New Budget within 7 Days', 'sub_title' => '', 'summary' => 'March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.', '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"">March 31: The Ministry of Finance on Wednesday held discussions with secretaries and joint secretaries of all the ministries regarding the preparation for the upcoming fiscal year’s budget.</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"">During the discussion programme, Finance Minister Janardan Sharma directed the federal, state and local levels to submit their action plans and policies for the upcoming fiscal year within the seven days.</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"">He also instructed not to submit fragmented plans for the upcoming fiscal year. He said that there is a tendency of federal levels to include fragmented plans in the federal budget and skip the work during implementation phase and directed the ministers not to do so.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Finance Minister Sharma has asked all ministries and agencies to submit a plan to reduce current expenditure for the upcoming budget. He said that the progress of the national pride and game changer projects was disappointing, and added that the pace of construction of the national pride projects was very slow. He also emphasized on a budget focused on economic prosperity through increasing production and employment.</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"">During the discussion, Finance Secretary Madhu Kumar Marasini suggested the ministries to present their budget programmes within the limits of financial discipline considering the limited resources of the government.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-31', 'modified' => '2022-03-31', 'keywords' => '', 'description' => '', 'sortorder' => '14762', 'image' => '20220331010945_1648651431.jpg', 'article_date' => '2022-03-31 13:09:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '15018', 'article_category_id' => '1', 'title' => 'Government Unlikely to Achieve 7 Percent Growth Target ', 'sub_title' => '', 'summary' => 'March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79).', '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"">March 30: The government is unlikely to achieve the 7 percent economic growth target set for the current fiscal year (FY 2078/79). Finance Minister Janardan Sharma, who did not change the economic growth target even in the mid-term review of the current fiscal year's budget, admitted that the target would not be achieved. </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 economic growth of above 7 percent was not announced just for the sake of speech, it was meant to be achieved. However, due to the damage caused by the floods and landslides in the agricultural sector in June/July, and the unexpected fluctuations in the international geo-politics, the economic growth rate cannot be achieved," he said at a program in the capital on Tuesday. </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"">Finance Minister Sharma said that the country is poor despite being rich in resources and they are making efforts to move towards prosperity through institutional strengthening. "There is a structural problem, and there can be no qualitative improvement without improving the systemic problem. So we are focused towards achieving that end," 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"">According to him, the country does not have any policy regarding research and investigation. Further, he said that they are making an effort to bring a budget that emphasises on import replacement and increasing production to eliminate the problem of trade deficit and unemployment. According to him, they are preparing to redefine the projects of national pride. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><em><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Dozens of suggestions for the budget</span></span></em></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"">Economists, industrialists, bankers and others have given dozens of suggestions, ranging from the recent government-controlled cryptocurrencies to the opening of a policy research center for the budget for the coming 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"">Stating that the new type of digital business has added a challenge to the economy, they have suggested that it should be regulated rather than banned. </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"">Speaking at a discussion program organized in Kathmandu on Tuesday in collaboration between Nepal Economic Association, Confederation of Banks and Financial Institutions Nepal and the Ministry of Finance, economist Dr. Bishwambher Pyakurel said the latest index shows the country's economic situation is not good. </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"">He said that although there may be investment in cryptocurrency due to lack of liquidity, there is no study or research on it. </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"">"It looks like the Nepal Rastra Bank and the CIB have signed the contract. There is no proper study from the government level. Other countries have started keeping statistics of investment in crypto. It is necessary to rethink about cryptocurrency," he said. Stating that public debt is increasing in Nepal, he said that with the increase in debt at the rate of 4-5 percent of GDP every year, it seems that Nepal is heading towards the crisis faced by Sri Lanka. </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"">He emphasized that the upcoming budget should be aimed at reducing poverty and budget deficit. Economist Keshav Acharya said that imbalance of payments and inflation were the major problems in the economy. Stating that freight rates have increased due to the Russia-Ukraine war, he suggested that Nepal should now review the foreign exchange rate as well. "It has been 31 years that the foreign exchange rate hasn't been changed. Now we have to think about changing it." </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"">He suggested the government to limit the number of national pride projects and added that the donors should waive the installment during the difficult period that the country is going through.</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"">He further said that the budget should be prepared in such a way as to provide subsidies to the farmers on the basis of productivity. </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"">Professor Dr Govinda Nepal said that the upcoming budget should be able to create road access to every municipality. "It is necessary to open basic health posts in every municipality and residential school in every district that can accommodate children of at least 2,000 poor people," he said. According to him, the government should now open a policy research center, in which it is necessary to invest Rs 50 million every 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"">Similarly, economist Posharaj Pandey said that the upcoming budget in the post-Covid-19 period should be able to create employment along with economic recovery. He alleged that the Ministry of Finance has become a body to collect revenue and buy votes. </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"">Finance Secretary Madhu Marasini said that the upcoming budget will focus on creating production and employment in the country. He said that the current problems in the economy are unpredictable and they will move ahead by handling the situation.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14760', 'image' => '20220330055409_Inflation.jpg', 'article_date' => '2022-03-30 17:53:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '15017', 'article_category_id' => '1', 'title' => 'Sunsari-Morang Industrial Corridor Facing Unannounced Power Cuts', 'sub_title' => '', 'summary' => 'March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day.', '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"">March 30: The production of industries in the Sunsari-Morang Industrial Corridor has been reduced to 40 percent of their capacity following an unannounced load-shedding of 14-hour a day. Industrialists have cried foul to the power cuts to the industry, which is already reeling under liquidity crisis, rising interest rates, and the crisis in Ukraine.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">According to the industrialists of the corridor, the Nepal Electricity Authority (NEA) has cut off electricity supply to industries consuming more than one megawatt of electricity on the pretext that it has not been able to import electricity from India due to high cost.</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 Morang Trade Association, Chamber of Industries Morang, and Province 1 chapter of the Confederation of Nepalese Industries held a joint press conference on Tuesday and expressed outrage over the NEA's unusual behavior. They accused the government of conspiring to bring the private sector back to the state of 10 years ago under various pretexts. </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"">Meanwhile, the Federation of Nepalese Chambers of Commerce and Industry (FNCCI) said in a press release that the 14-hour power outage in the industrial sector had unexpectedly reduced production, left workers unemployed, and also resulted in failure to pay the bank interest on time. The federation has urged to resolve the issue immediately as it will also affect the government’s revenue collection.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Speaking at the joint press conference, Navin Rijal, president of the Morang Trade Association, said that the industrialists were affected twice when the NEA increased the price of electricity and the Nepal Oil Corporation increased the price of diesel. He said that the industrialists should be able to buy diesel at reasonable charges when the price of electricity goes up, and the price of electricity should go down when the price of diesel goes up.</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"">Rijal argues that the state should ease the current situation by reducing unnecessary expenditure.</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"">He said that there is no need to worry when the banks’ profit declines. According to Rijal, the interest rate should be maintained at 6 percent and Rs 40 billion savings should be brought to the market.</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"">Chairman of the Chamber of Industries Morang, Suyash Raj Pyakurel, said that the NEA has acted strangely by urging them to increase electricity consumption but has cut the supply after 12 noon.</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"">He said that the government should not force the industrialists to buy electricity at expensive rate. He said that the state should not back off saying that there is a problem. “It should seek appropriate solution immediately."</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"">Bhim Ghimire, president of Province 1 chapter of the Confederation of Nepalese Industries, complained that industries were shutting down due to a lack of electricity, high interest rate of banks, and liquidity crisis.</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"">He said that the government should find a timely solution to this problem as the workers would be left unemployed when the industry is shut down, they would not be able to pay the bank installments on time and the government would not be able to levy taxes.</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"">Constituent Assembly member and former president of the Morang Trade Association Pawan Kumar Sharda said that the government had deceived the industrialists and businessmen. He said that the double standard of the banks and the government has worked to bring the industrial sector back to the level it was 10 years ago. </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 banks give loans to the industry but they increase the interest rate unbearably. The government pledges electricity but cuts the supply when the plant is set up. This has put the industrialists in debt trap," he said. </span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14759', 'image' => '20220330051709_c1d0e043-electricity.jpg', 'article_date' => '2022-03-30 17:16:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '15016', 'article_category_id' => '1', 'title' => 'Construction Entrepreneurs Affected by Excessive Price Hike', 'sub_title' => '', 'summary' => 'March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials.', '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"">March 30: The Federation of Contractors’ Associations of Nepal (FCAN) has stated that the construction industry of the country is on the verge of collapse due to excessive price hike of construction materials. </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"">FCAN members made such remark during a press conference organized on Tuesday to announce the decision of the national meeting held on March 28. During the press conference, president of the federation, Ravi Singh said that the construction works cannot be carried out in the current situation.</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"">Singh warned that if the decisions taken by the National Assembly on price control are not implemented within the next week, the federation would be forced to launch stern protests. He said that along with the sharp rise in prices of construction materials, their shortage as well as their black marketing has started as well.</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 federation has demanded the Public Procurement Monitoring Office to immediately issue Technical Guidelines No 2 similar to that of 2065 BS for the entrepreneurs to make inflation adjustment in all the projects in line with the Public Procurement Act, 2063 BS. President Singh said that the government of Nepal should declare a 'construction holiday' until the price rise is not controlled. The federation has requested to make the construction industry of the country systematic and dignified by correcting the errors of 11th amendment to the Public Procurement Rules, 2064 BS.</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"">Similarly, president Singh stated that all the projects should be given an extension of one year since it is not possible to complete the construction works by mid-April this year due to the price hike caused by Covid-19 pandemic. </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 addition, the federation has also demanded a one-time waiver of value-added tax and income tax for the contractors who have been affected by the pandemic. </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"">At the press conference, Senior Vice President of the federation, Aang Dorji Lama, General Secretary Roshan Dahal and Deputy Secretary General for Policy Shivahari Ghimire said that the media can play an important role in solving the problems of the construction industry.</span></span></span></span></p> <p><br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-30', 'modified' => '2022-03-30', 'keywords' => '', 'description' => '', 'sortorder' => '14758', 'image' => '20220330042113_construction.jpg', 'article_date' => '2022-03-30 16:20:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
