March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound…
March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound…
March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity…
March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum…
March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good…
March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the…
March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s…
March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY…
March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. …
March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small…
March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point.…
March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year.…
March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five…
March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in…
March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent…
March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section.…
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Vice President of Birgunj Chamber of Commerce and Industry Madhav Rajpal has written a letter to the consulate in this regard. Rajpal, who is also a coal importer, informed that the Indian Railways have not provided rake at Haldia port for the past 12 days. According to him, no rake has been provided for Nepal due to increasing pressure of coal supply to power plants in India itself.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General in Kolkata Ishwar Raj Poudel said that the consulate has already written letters to the Indian Railways to provide the required number of rakes. He said that they acted as soon as they were notified about the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“About 52 rakes of coal are stuck at the port. Despite repeated requests to the Indian Railways, there is still no response,” said Rajpal. He added that the market is already facing shortage of coal as around 200,000 metric tons of coal is stuck at the port.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Nepali importers, about 1.5 million metric tons of coal is imported to Nepal annually from India, Indonesia, the USA, Australia and South Africa. Coal imports have increased along with the growth of clinker-based cement industries in Nepal. Coal is an auxiliary raw material of the clinker industry. Coal is also used in brick kilns. According to the industrialists, two-thirds of the total imports of coal are consumed in the clinker industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General Poudel is scheduled to inspect the Haldia port on Tuesday to resolve the issue. “We have already written to the southeastern office of the railways. We are going to conduct an on-site inspection of the situation in Haldia,” Poudel said. Haldia Port is 150 kilometers away from Kolkata port.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14667', 'image' => '20220314021043_18e588c0-ab9d-4e06-aac1-eda206712995.jpg', 'article_date' => '2022-03-14 14:09:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14924', 'article_category_id' => '1', 'title' => 'BFIs Decide not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank (NRB) has made it mandatory for BFIs to issue a public notice regarding the hike of interest rate a day before the beginning of a new month. As the banks have decided not to increase the interest rate, the existing rates will be applicable for the new month as per the Nepali calendar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Separate meetings of Nepal Bankers’ Association, the umbrella body of the CEOs of commercial banks of Nepal, Development Bankers’ Association and Nepal Finance Companies’ Association decided not to increase the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We agreed not to increase interest rates as it is not the solution to the liquidity crisis. Increasing the interest rate doesn’t necessarily increase deposits and resolve the liquidity crisis,” said Pradhuman Pokharel, chairman of the Development Bankers’ Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing rules set by the NRB, BFIs had increased the interest rate for the month of Falgun (mid-February to mid-March) by 10 percent. During the review month, banks had fixed the maximum interest rate on personal fixed deposits at 11.03 percent. Similarly, development banks had fixed the maximum interest rate at 12.65 percent while the finance companies had set the interest rate at a maximum of 11.71 percent. The same rates will be applicable in the month of Chaitra (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BFIs were involved in an unhealthy competition of increasing interest rates due to the lack of investible capital in the banking system in the current fiscal year. The interest rates of commercial banks had almost reached 12 percent some four months ago. The central bank then intervened and ordered the banks to lower the interest rates to a single digit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a circular in the month of Kartik (mid-October to mid-November), the central bank had allowed banks to increase or decrease the interest rates by a maximum of 10 percent every month. BFIs didn’t increase the interest rates for the next two months after the NRB issued such circular but they decided to increase the interest rate by 10 percent in the month of Falgun (mid-February to mid-March). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the BFIs had increased the interest rates with permission from Nepal Rastra Bank’s Governor Maha Prasad Adhikari, Finance Minister Janardan Sharma was unhappy about such decision. Similarly, businessmen and entrepreneurs of the country had also issued separate statements denouncing the hike in interest rates. Despite increasing the interest rate, BFIs have not witnessed any significant improvement in deposit collection.</span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14666', 'image' => '20220314115308_Banks - Copy.jpg', 'article_date' => '2022-03-14 11:52:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14923', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Demand Hike in Public Transport Fare ', 'sub_title' => '', 'summary' => 'March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Organising a press conference on Sunday, the federation urged the government to adjust the fare at the earliest while expressing concern over the government's apathy despite skyrocketing price of fuel. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's representatives argued that they will be forced to increase the fare themselves if the government does not review the fare.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's Chairman Yogendra Nath Karmacharya said they would adjust the fare on the basis of scientific fare procedure if the existing rate is not reviewed by March 21. He said the transportation fare has not been adjusted even once although the price of the petroleum products has been hiked seven times since July 2021. FNNTE informed that the fare of public transport has not been revised since October 13, 2021. Back then, the price of diesel was Rs 104 per liter, but now the price has jumped to Rs 133 per liter, the transport entrepreneurs said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The transport entrepreneurs said that scientific fare adjustment is needed at the moment when the price of every commodity is increasing in the market. The federation expressed displeasure stating that the government turned a deaf ear to their pleas.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, a delegation of the Federation of Truck Transport Entrepreneurs, Nepal (FTTEN) had separately met the Director General of Department of Transport Management, Namaraj Ghimire seeking the government initiatives to resolve problems existing in the transportation sector. During the meeting, the delegation submitted a memorandum to Director General Ghimire demanding the adjustment of transport fare to keep up with the increased price of petroleum products </span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14665', 'image' => '20220314110643_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2022-03-14 08:22:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14922', 'article_category_id' => '1', 'title' => 'Paddy Farmers Demand Compensation for Faulty Seeds', 'sub_title' => '', 'summary' => 'March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest. Kasthamandap Trade Point had sold paddy seed named DY-28 which was developed by Chinese company and had claimed that the seed would yield plenty of harvest. However, the farmers complained that the plants didn’t develop rice panicles.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All the investment made by the farmers went down the drain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government has neither taken action against the company nor provided any compensation to the farmers. The farmers have accused that the government of protecting the company. They have also demanded compensation from the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had made such faulty seeds available to more than 2,200 farmers nine months ago just ahead of the planting season. None of the farmers who planted the DY-28 seeds were able to harvest any grain. The seeds provided by the company grow at an altitude of 700 meters above the sea level while the altitude of Kathmandu is 1,400 meters above the sea level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Treasurer of the All Nepal Farmers Federation Krishna Prasad Adhikari said that the altitude is the reason why the plants didn’t develop rice panicles. He accused that the company deceived them in buying inappropriate seeds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Seed Quality Control Centre, around 7,745 ropanis of land where the seeds were planted didn’t produce any grains. According to Adhikari, the farmers had staged protest at Maitighar about five months ago after the plants didn’t develop rice panicles. Following the protest, the company had reached an understanding with the Seed Quality Control Centre to provide compensation of Rs 2,500 per ropani to the farmers. However, the decision has not been implemented yet.</span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14664', 'image' => '20220313090149_padd.jpg', 'article_date' => '2022-03-13 21:01:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14921', 'article_category_id' => '1', 'title' => 'Nepali Contractors Lack Expertise and Experience to bag Contracts Under MCC', 'sub_title' => '', 'summary' => 'March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The technology, qualifications and experience required for the construction of the transmission line, substation and road under the MCC project are highly advanced, unlike those used by Nepali construction companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inaugurating the 23rd Annual General Assembly and 12th Convention of the Federation of Contractors' Associations of Nepal (FCAN) in Kathmandu on Friday, PM Deuba said that Nepali companies should be successful in getting MCC contracts. “As per the provisions of MCC, international bids are invited for the contract,” he said adding, “China and India are the likely contenders for the bids. But, a Nepali construction companies should also be able to come take benefit.” The US government will be spending around USD 500 million (around Rs 55 billion) and the government of Nepal will contribute USD 130 million (around Rs 15 billion) under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With large investment projects operating in Nepal, it is even more difficult for a Nepali construction company to win a contract. Khadga Bahadur Bista, executive director of Millennium Challenge Account Nepal (MCA) Nepal, informed that the Nepalese companies face an uphill battle to participate in road construction under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that international tender bids will be called within the next six months for the construction of substation, transmission line and road, Bista said that Nepali companies will be able to participate in this tender. “However, the Nepali company must be able to meet the criteria for the contract (package),” said Bista adding, “Besides, due to lack of experience in technology and technical expertise in the construction of roads, transmission lines and substations under the MCC project, the chances of Nepali construction entrepreneurs getting a contract is quite slim.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bista added that it is even more difficult for Nepali construction companies to get involved in road construction but said that the construction of transmission lines and substations can be done through joint venture (JV) companies and subcontractors. Although many are not in favor of splitting the package for the construction of the project, Bista said that discussions are underway to make several packages for the transmission line. He argued that discussions are being held to make some packages for the transmission lines as there could be problems if only one company is selected for the construction of the 315 km transmission line. Separate contracts will be called for substation and transmission line, said Bista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, for the first time in Nepal, new technology is being used in the construction of a 77 km road in the East-West Highway with this grant. Due to this reason, it is expected that it will be more difficult for Nepali construction companies to build the road. An infrastructure expert said, “Even with the limited financial capacity, technology and experience of the domestic construction companies, it is almost impossible for them to participate in the MCC project on their own, although they can participate through JV.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New technologies such as 'Full Depth Reclamation' and 'Superior Performing Asphalt Pavement (SuperPave)' will be used in the road to be constructed under this project. ‘Full depth reclamation’ is the removal of sand and ballast from the road to be constructed. The old material is reused by adding new cement to it. Similarly, in ‘Superior Performing Asphalt Pavement (SuperPave)’ the road surface is leveled. As this technology is new in Nepal, it seems that the qualification and experience of the domestic construction companies is not enough.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Sharma & Company Ramesh Sharma, on the other hand, said that the size of the contract will depend on the size of the package after the detailed project report (DPR) is prepared. He says that the Nepali construction companies can participate in contracts worth up to Rs 8 billion alone. “If a contract worth Rs 3/4 billion is proposed, it is possible for a Nepali company to get a contract from MCC,” said Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Construction companies of Nepal are now eligible to bid for contracts up to Rs 3 billion after the government increased the capacity through amendment of the procurement regulations. This has also boosted the morale of the domestic companies of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there is a provision that Nepali companies can bag a contract up to Rs 10 billion through JV, Nepali companies will be able to land the contract of MCC even through JV. Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya emphasized on the need to give opportunity to Nepali construction companies. Arguing that the Nepali companies are financially capable and the consultants are also groomed in Nepal, he said that the opportunity should be given to the domestic companies as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14663', 'image' => '20220313053813_MCC.jpg', 'article_date' => '2022-03-13 17:37:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14920', 'article_category_id' => '1', 'title' => 'Cash Margin on Imports to Address Challenges in Economy: Minister Sharma ', 'sub_title' => '', 'summary' => 'March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. </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"">Addressing a seminar organised by the Department of Customs on Sunday, Minister Sharma directed the employees at the department to work hard to achieve the target although the revenue collection was affected due to the tightening of imports </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"">"At present, the country's economy is in a challenging situation. To address the issue, we have imposed margin on some of the imported goods. It will not last forever. Once the challenges are over, the existing situation will ease," said Minister Sharma. </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"">He expressed his confidence that the seminar would be effective to help resolve the issues relating to the Department of Customs as well as to deal with the new challenges emerged due to the new policy. </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"">Similarly, the Minister directed the customs officials to seek solutions through the seminar to address the discontentment of the entrepreneurs with the classification in imports. </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 him, guidelines on vehicle scanning in the customs was in the offing and would be enforced soon. On the occasion, Minister Sharma expressed happiness over the gradual improvement in export business. </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 contribution of export is 10 percent to the total foreign trade,” he said, adding that the country recorded the export business worth Rs 131 billion in the first seven months of the current fiscal year. “But we are not expected to stop here. Our ultimate goal should be for achieving a self-sufficient economy by increasing our contribution to export by 10 percent each year.” </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"">Deputy director general of the department Ananda Kafle said that revenue collection during the first seven months of the current fiscal was Rs 308 billion, a 29 percent rise compared to the corresponding period of last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14662', 'image' => '20220313045813_fin min sharma.jpg', 'article_date' => '2022-03-13 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14919', 'article_category_id' => '1', 'title' => 'Nepal Imports Paddy Worth Over Rs 12 Billion', 'sub_title' => '', 'summary' => 'March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). </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 the state-owned national news agency of Nepal RSS, a total of 426,357,810 kilogrammes of paddy was imported during this period. </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"">Similarly, Nepal imported various species of paddy seedlings worth Rs 30 million from India during the same period. </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 import of paddy as well as paddy seedling and rice has been increasing since some years, shows the data of the Department of Customs. </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"">Paddy weighing over 420 million kilogrammes were procured from India in the first seven months of the current fiscal year, according to the Department of Customs. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14661', 'image' => '20220313043930_1647080623.jpg', 'article_date' => '2022-03-13 16:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14917', 'article_category_id' => '1', 'title' => 'DRI Drags Bottlers' Nepal into Court, Demands Clearance of Rs 7.5 Billion ', 'sub_title' => '', 'summary' => 'March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14925', 'article_category_id' => '1', 'title' => '200,000 Tons of Coal stuck at Haldia Port', 'sub_title' => '', 'summary' => 'March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound goods.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepali importers based in Birgunj have sought help from Nepal’s Consulate in Kolkata to release the coal. Vice President of Birgunj Chamber of Commerce and Industry Madhav Rajpal has written a letter to the consulate in this regard. Rajpal, who is also a coal importer, informed that the Indian Railways have not provided rake at Haldia port for the past 12 days. According to him, no rake has been provided for Nepal due to increasing pressure of coal supply to power plants in India itself.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General in Kolkata Ishwar Raj Poudel said that the consulate has already written letters to the Indian Railways to provide the required number of rakes. He said that they acted as soon as they were notified about the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“About 52 rakes of coal are stuck at the port. Despite repeated requests to the Indian Railways, there is still no response,” said Rajpal. He added that the market is already facing shortage of coal as around 200,000 metric tons of coal is stuck at the port.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Nepali importers, about 1.5 million metric tons of coal is imported to Nepal annually from India, Indonesia, the USA, Australia and South Africa. Coal imports have increased along with the growth of clinker-based cement industries in Nepal. Coal is an auxiliary raw material of the clinker industry. Coal is also used in brick kilns. According to the industrialists, two-thirds of the total imports of coal are consumed in the clinker industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General Poudel is scheduled to inspect the Haldia port on Tuesday to resolve the issue. “We have already written to the southeastern office of the railways. We are going to conduct an on-site inspection of the situation in Haldia,” Poudel said. Haldia Port is 150 kilometers away from Kolkata port.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14667', 'image' => '20220314021043_18e588c0-ab9d-4e06-aac1-eda206712995.jpg', 'article_date' => '2022-03-14 14:09:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14924', 'article_category_id' => '1', 'title' => 'BFIs Decide not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank (NRB) has made it mandatory for BFIs to issue a public notice regarding the hike of interest rate a day before the beginning of a new month. As the banks have decided not to increase the interest rate, the existing rates will be applicable for the new month as per the Nepali calendar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Separate meetings of Nepal Bankers’ Association, the umbrella body of the CEOs of commercial banks of Nepal, Development Bankers’ Association and Nepal Finance Companies’ Association decided not to increase the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We agreed not to increase interest rates as it is not the solution to the liquidity crisis. Increasing the interest rate doesn’t necessarily increase deposits and resolve the liquidity crisis,” said Pradhuman Pokharel, chairman of the Development Bankers’ Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing rules set by the NRB, BFIs had increased the interest rate for the month of Falgun (mid-February to mid-March) by 10 percent. During the review month, banks had fixed the maximum interest rate on personal fixed deposits at 11.03 percent. Similarly, development banks had fixed the maximum interest rate at 12.65 percent while the finance companies had set the interest rate at a maximum of 11.71 percent. The same rates will be applicable in the month of Chaitra (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BFIs were involved in an unhealthy competition of increasing interest rates due to the lack of investible capital in the banking system in the current fiscal year. The interest rates of commercial banks had almost reached 12 percent some four months ago. The central bank then intervened and ordered the banks to lower the interest rates to a single digit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a circular in the month of Kartik (mid-October to mid-November), the central bank had allowed banks to increase or decrease the interest rates by a maximum of 10 percent every month. BFIs didn’t increase the interest rates for the next two months after the NRB issued such circular but they decided to increase the interest rate by 10 percent in the month of Falgun (mid-February to mid-March). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the BFIs had increased the interest rates with permission from Nepal Rastra Bank’s Governor Maha Prasad Adhikari, Finance Minister Janardan Sharma was unhappy about such decision. Similarly, businessmen and entrepreneurs of the country had also issued separate statements denouncing the hike in interest rates. Despite increasing the interest rate, BFIs have not witnessed any significant improvement in deposit collection.</span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14666', 'image' => '20220314115308_Banks - Copy.jpg', 'article_date' => '2022-03-14 11:52:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14923', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Demand Hike in Public Transport Fare ', 'sub_title' => '', 'summary' => 'March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Organising a press conference on Sunday, the federation urged the government to adjust the fare at the earliest while expressing concern over the government's apathy despite skyrocketing price of fuel. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's representatives argued that they will be forced to increase the fare themselves if the government does not review the fare.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's Chairman Yogendra Nath Karmacharya said they would adjust the fare on the basis of scientific fare procedure if the existing rate is not reviewed by March 21. He said the transportation fare has not been adjusted even once although the price of the petroleum products has been hiked seven times since July 2021. FNNTE informed that the fare of public transport has not been revised since October 13, 2021. Back then, the price of diesel was Rs 104 per liter, but now the price has jumped to Rs 133 per liter, the transport entrepreneurs said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The transport entrepreneurs said that scientific fare adjustment is needed at the moment when the price of every commodity is increasing in the market. The federation expressed displeasure stating that the government turned a deaf ear to their pleas.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, a delegation of the Federation of Truck Transport Entrepreneurs, Nepal (FTTEN) had separately met the Director General of Department of Transport Management, Namaraj Ghimire seeking the government initiatives to resolve problems existing in the transportation sector. During the meeting, the delegation submitted a memorandum to Director General Ghimire demanding the adjustment of transport fare to keep up with the increased price of petroleum products </span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14665', 'image' => '20220314110643_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2022-03-14 08:22:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14922', 'article_category_id' => '1', 'title' => 'Paddy Farmers Demand Compensation for Faulty Seeds', 'sub_title' => '', 'summary' => 'March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest. Kasthamandap Trade Point had sold paddy seed named DY-28 which was developed by Chinese company and had claimed that the seed would yield plenty of harvest. However, the farmers complained that the plants didn’t develop rice panicles.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All the investment made by the farmers went down the drain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government has neither taken action against the company nor provided any compensation to the farmers. The farmers have accused that the government of protecting the company. They have also demanded compensation from the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had made such faulty seeds available to more than 2,200 farmers nine months ago just ahead of the planting season. None of the farmers who planted the DY-28 seeds were able to harvest any grain. The seeds provided by the company grow at an altitude of 700 meters above the sea level while the altitude of Kathmandu is 1,400 meters above the sea level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Treasurer of the All Nepal Farmers Federation Krishna Prasad Adhikari said that the altitude is the reason why the plants didn’t develop rice panicles. He accused that the company deceived them in buying inappropriate seeds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Seed Quality Control Centre, around 7,745 ropanis of land where the seeds were planted didn’t produce any grains. According to Adhikari, the farmers had staged protest at Maitighar about five months ago after the plants didn’t develop rice panicles. Following the protest, the company had reached an understanding with the Seed Quality Control Centre to provide compensation of Rs 2,500 per ropani to the farmers. However, the decision has not been implemented yet.</span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14664', 'image' => '20220313090149_padd.jpg', 'article_date' => '2022-03-13 21:01:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14921', 'article_category_id' => '1', 'title' => 'Nepali Contractors Lack Expertise and Experience to bag Contracts Under MCC', 'sub_title' => '', 'summary' => 'March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The technology, qualifications and experience required for the construction of the transmission line, substation and road under the MCC project are highly advanced, unlike those used by Nepali construction companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inaugurating the 23rd Annual General Assembly and 12th Convention of the Federation of Contractors' Associations of Nepal (FCAN) in Kathmandu on Friday, PM Deuba said that Nepali companies should be successful in getting MCC contracts. “As per the provisions of MCC, international bids are invited for the contract,” he said adding, “China and India are the likely contenders for the bids. But, a Nepali construction companies should also be able to come take benefit.” The US government will be spending around USD 500 million (around Rs 55 billion) and the government of Nepal will contribute USD 130 million (around Rs 15 billion) under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With large investment projects operating in Nepal, it is even more difficult for a Nepali construction company to win a contract. Khadga Bahadur Bista, executive director of Millennium Challenge Account Nepal (MCA) Nepal, informed that the Nepalese companies face an uphill battle to participate in road construction under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that international tender bids will be called within the next six months for the construction of substation, transmission line and road, Bista said that Nepali companies will be able to participate in this tender. “However, the Nepali company must be able to meet the criteria for the contract (package),” said Bista adding, “Besides, due to lack of experience in technology and technical expertise in the construction of roads, transmission lines and substations under the MCC project, the chances of Nepali construction entrepreneurs getting a contract is quite slim.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bista added that it is even more difficult for Nepali construction companies to get involved in road construction but said that the construction of transmission lines and substations can be done through joint venture (JV) companies and subcontractors. Although many are not in favor of splitting the package for the construction of the project, Bista said that discussions are underway to make several packages for the transmission line. He argued that discussions are being held to make some packages for the transmission lines as there could be problems if only one company is selected for the construction of the 315 km transmission line. Separate contracts will be called for substation and transmission line, said Bista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, for the first time in Nepal, new technology is being used in the construction of a 77 km road in the East-West Highway with this grant. Due to this reason, it is expected that it will be more difficult for Nepali construction companies to build the road. An infrastructure expert said, “Even with the limited financial capacity, technology and experience of the domestic construction companies, it is almost impossible for them to participate in the MCC project on their own, although they can participate through JV.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New technologies such as 'Full Depth Reclamation' and 'Superior Performing Asphalt Pavement (SuperPave)' will be used in the road to be constructed under this project. ‘Full depth reclamation’ is the removal of sand and ballast from the road to be constructed. The old material is reused by adding new cement to it. Similarly, in ‘Superior Performing Asphalt Pavement (SuperPave)’ the road surface is leveled. As this technology is new in Nepal, it seems that the qualification and experience of the domestic construction companies is not enough.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Sharma & Company Ramesh Sharma, on the other hand, said that the size of the contract will depend on the size of the package after the detailed project report (DPR) is prepared. He says that the Nepali construction companies can participate in contracts worth up to Rs 8 billion alone. “If a contract worth Rs 3/4 billion is proposed, it is possible for a Nepali company to get a contract from MCC,” said Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Construction companies of Nepal are now eligible to bid for contracts up to Rs 3 billion after the government increased the capacity through amendment of the procurement regulations. This has also boosted the morale of the domestic companies of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there is a provision that Nepali companies can bag a contract up to Rs 10 billion through JV, Nepali companies will be able to land the contract of MCC even through JV. Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya emphasized on the need to give opportunity to Nepali construction companies. Arguing that the Nepali companies are financially capable and the consultants are also groomed in Nepal, he said that the opportunity should be given to the domestic companies as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14663', 'image' => '20220313053813_MCC.jpg', 'article_date' => '2022-03-13 17:37:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14920', 'article_category_id' => '1', 'title' => 'Cash Margin on Imports to Address Challenges in Economy: Minister Sharma ', 'sub_title' => '', 'summary' => 'March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. </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"">Addressing a seminar organised by the Department of Customs on Sunday, Minister Sharma directed the employees at the department to work hard to achieve the target although the revenue collection was affected due to the tightening of imports </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"">"At present, the country's economy is in a challenging situation. To address the issue, we have imposed margin on some of the imported goods. It will not last forever. Once the challenges are over, the existing situation will ease," said Minister Sharma. </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"">He expressed his confidence that the seminar would be effective to help resolve the issues relating to the Department of Customs as well as to deal with the new challenges emerged due to the new policy. </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"">Similarly, the Minister directed the customs officials to seek solutions through the seminar to address the discontentment of the entrepreneurs with the classification in imports. </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 him, guidelines on vehicle scanning in the customs was in the offing and would be enforced soon. On the occasion, Minister Sharma expressed happiness over the gradual improvement in export business. </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 contribution of export is 10 percent to the total foreign trade,” he said, adding that the country recorded the export business worth Rs 131 billion in the first seven months of the current fiscal year. “But we are not expected to stop here. Our ultimate goal should be for achieving a self-sufficient economy by increasing our contribution to export by 10 percent each year.” </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"">Deputy director general of the department Ananda Kafle said that revenue collection during the first seven months of the current fiscal was Rs 308 billion, a 29 percent rise compared to the corresponding period of last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14662', 'image' => '20220313045813_fin min sharma.jpg', 'article_date' => '2022-03-13 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14919', 'article_category_id' => '1', 'title' => 'Nepal Imports Paddy Worth Over Rs 12 Billion', 'sub_title' => '', 'summary' => 'March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). </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 the state-owned national news agency of Nepal RSS, a total of 426,357,810 kilogrammes of paddy was imported during this period. </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"">Similarly, Nepal imported various species of paddy seedlings worth Rs 30 million from India during the same period. </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 import of paddy as well as paddy seedling and rice has been increasing since some years, shows the data of the Department of Customs. </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"">Paddy weighing over 420 million kilogrammes were procured from India in the first seven months of the current fiscal year, according to the Department of Customs. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14661', 'image' => '20220313043930_1647080623.jpg', 'article_date' => '2022-03-13 16:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14917', 'article_category_id' => '1', 'title' => 'DRI Drags Bottlers' Nepal into Court, Demands Clearance of Rs 7.5 Billion ', 'sub_title' => '', 'summary' => 'March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14925', 'article_category_id' => '1', 'title' => '200,000 Tons of Coal stuck at Haldia Port', 'sub_title' => '', 'summary' => 'March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound goods.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 14: Around 200,000 metric tons of coal have been stuck at the Haldia Port of India after the Indian Railways refused to provide rail rakes to transport the Nepal-bound goods.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Nepali importers based in Birgunj have sought help from Nepal’s Consulate in Kolkata to release the coal. Vice President of Birgunj Chamber of Commerce and Industry Madhav Rajpal has written a letter to the consulate in this regard. Rajpal, who is also a coal importer, informed that the Indian Railways have not provided rake at Haldia port for the past 12 days. According to him, no rake has been provided for Nepal due to increasing pressure of coal supply to power plants in India itself.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General in Kolkata Ishwar Raj Poudel said that the consulate has already written letters to the Indian Railways to provide the required number of rakes. He said that they acted as soon as they were notified about the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“About 52 rakes of coal are stuck at the port. Despite repeated requests to the Indian Railways, there is still no response,” said Rajpal. He added that the market is already facing shortage of coal as around 200,000 metric tons of coal is stuck at the port.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Nepali importers, about 1.5 million metric tons of coal is imported to Nepal annually from India, Indonesia, the USA, Australia and South Africa. Coal imports have increased along with the growth of clinker-based cement industries in Nepal. Coal is an auxiliary raw material of the clinker industry. Coal is also used in brick kilns. According to the industrialists, two-thirds of the total imports of coal are consumed in the clinker industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General Poudel is scheduled to inspect the Haldia port on Tuesday to resolve the issue. “We have already written to the southeastern office of the railways. We are going to conduct an on-site inspection of the situation in Haldia,” Poudel said. Haldia Port is 150 kilometers away from Kolkata port.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14667', 'image' => '20220314021043_18e588c0-ab9d-4e06-aac1-eda206712995.jpg', 'article_date' => '2022-03-14 14:09:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14924', 'article_category_id' => '1', 'title' => 'BFIs Decide not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank (NRB) has made it mandatory for BFIs to issue a public notice regarding the hike of interest rate a day before the beginning of a new month. As the banks have decided not to increase the interest rate, the existing rates will be applicable for the new month as per the Nepali calendar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Separate meetings of Nepal Bankers’ Association, the umbrella body of the CEOs of commercial banks of Nepal, Development Bankers’ Association and Nepal Finance Companies’ Association decided not to increase the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We agreed not to increase interest rates as it is not the solution to the liquidity crisis. Increasing the interest rate doesn’t necessarily increase deposits and resolve the liquidity crisis,” said Pradhuman Pokharel, chairman of the Development Bankers’ Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing rules set by the NRB, BFIs had increased the interest rate for the month of Falgun (mid-February to mid-March) by 10 percent. During the review month, banks had fixed the maximum interest rate on personal fixed deposits at 11.03 percent. Similarly, development banks had fixed the maximum interest rate at 12.65 percent while the finance companies had set the interest rate at a maximum of 11.71 percent. The same rates will be applicable in the month of Chaitra (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BFIs were involved in an unhealthy competition of increasing interest rates due to the lack of investible capital in the banking system in the current fiscal year. The interest rates of commercial banks had almost reached 12 percent some four months ago. The central bank then intervened and ordered the banks to lower the interest rates to a single digit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a circular in the month of Kartik (mid-October to mid-November), the central bank had allowed banks to increase or decrease the interest rates by a maximum of 10 percent every month. BFIs didn’t increase the interest rates for the next two months after the NRB issued such circular but they decided to increase the interest rate by 10 percent in the month of Falgun (mid-February to mid-March). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the BFIs had increased the interest rates with permission from Nepal Rastra Bank’s Governor Maha Prasad Adhikari, Finance Minister Janardan Sharma was unhappy about such decision. Similarly, businessmen and entrepreneurs of the country had also issued separate statements denouncing the hike in interest rates. Despite increasing the interest rate, BFIs have not witnessed any significant improvement in deposit collection.</span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14666', 'image' => '20220314115308_Banks - Copy.jpg', 'article_date' => '2022-03-14 11:52:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14923', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Demand Hike in Public Transport Fare ', 'sub_title' => '', 'summary' => 'March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Organising a press conference on Sunday, the federation urged the government to adjust the fare at the earliest while expressing concern over the government's apathy despite skyrocketing price of fuel. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's representatives argued that they will be forced to increase the fare themselves if the government does not review the fare.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's Chairman Yogendra Nath Karmacharya said they would adjust the fare on the basis of scientific fare procedure if the existing rate is not reviewed by March 21. He said the transportation fare has not been adjusted even once although the price of the petroleum products has been hiked seven times since July 2021. FNNTE informed that the fare of public transport has not been revised since October 13, 2021. Back then, the price of diesel was Rs 104 per liter, but now the price has jumped to Rs 133 per liter, the transport entrepreneurs said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The transport entrepreneurs said that scientific fare adjustment is needed at the moment when the price of every commodity is increasing in the market. The federation expressed displeasure stating that the government turned a deaf ear to their pleas.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, a delegation of the Federation of Truck Transport Entrepreneurs, Nepal (FTTEN) had separately met the Director General of Department of Transport Management, Namaraj Ghimire seeking the government initiatives to resolve problems existing in the transportation sector. During the meeting, the delegation submitted a memorandum to Director General Ghimire demanding the adjustment of transport fare to keep up with the increased price of petroleum products </span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14665', 'image' => '20220314110643_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2022-03-14 08:22:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14922', 'article_category_id' => '1', 'title' => 'Paddy Farmers Demand Compensation for Faulty Seeds', 'sub_title' => '', 'summary' => 'March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest. Kasthamandap Trade Point had sold paddy seed named DY-28 which was developed by Chinese company and had claimed that the seed would yield plenty of harvest. However, the farmers complained that the plants didn’t develop rice panicles.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All the investment made by the farmers went down the drain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government has neither taken action against the company nor provided any compensation to the farmers. The farmers have accused that the government of protecting the company. They have also demanded compensation from the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had made such faulty seeds available to more than 2,200 farmers nine months ago just ahead of the planting season. None of the farmers who planted the DY-28 seeds were able to harvest any grain. The seeds provided by the company grow at an altitude of 700 meters above the sea level while the altitude of Kathmandu is 1,400 meters above the sea level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Treasurer of the All Nepal Farmers Federation Krishna Prasad Adhikari said that the altitude is the reason why the plants didn’t develop rice panicles. He accused that the company deceived them in buying inappropriate seeds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Seed Quality Control Centre, around 7,745 ropanis of land where the seeds were planted didn’t produce any grains. According to Adhikari, the farmers had staged protest at Maitighar about five months ago after the plants didn’t develop rice panicles. Following the protest, the company had reached an understanding with the Seed Quality Control Centre to provide compensation of Rs 2,500 per ropani to the farmers. However, the decision has not been implemented yet.</span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14664', 'image' => '20220313090149_padd.jpg', 'article_date' => '2022-03-13 21:01:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14921', 'article_category_id' => '1', 'title' => 'Nepali Contractors Lack Expertise and Experience to bag Contracts Under MCC', 'sub_title' => '', 'summary' => 'March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The technology, qualifications and experience required for the construction of the transmission line, substation and road under the MCC project are highly advanced, unlike those used by Nepali construction companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inaugurating the 23rd Annual General Assembly and 12th Convention of the Federation of Contractors' Associations of Nepal (FCAN) in Kathmandu on Friday, PM Deuba said that Nepali companies should be successful in getting MCC contracts. “As per the provisions of MCC, international bids are invited for the contract,” he said adding, “China and India are the likely contenders for the bids. But, a Nepali construction companies should also be able to come take benefit.” The US government will be spending around USD 500 million (around Rs 55 billion) and the government of Nepal will contribute USD 130 million (around Rs 15 billion) under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With large investment projects operating in Nepal, it is even more difficult for a Nepali construction company to win a contract. Khadga Bahadur Bista, executive director of Millennium Challenge Account Nepal (MCA) Nepal, informed that the Nepalese companies face an uphill battle to participate in road construction under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that international tender bids will be called within the next six months for the construction of substation, transmission line and road, Bista said that Nepali companies will be able to participate in this tender. “However, the Nepali company must be able to meet the criteria for the contract (package),” said Bista adding, “Besides, due to lack of experience in technology and technical expertise in the construction of roads, transmission lines and substations under the MCC project, the chances of Nepali construction entrepreneurs getting a contract is quite slim.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bista added that it is even more difficult for Nepali construction companies to get involved in road construction but said that the construction of transmission lines and substations can be done through joint venture (JV) companies and subcontractors. Although many are not in favor of splitting the package for the construction of the project, Bista said that discussions are underway to make several packages for the transmission line. He argued that discussions are being held to make some packages for the transmission lines as there could be problems if only one company is selected for the construction of the 315 km transmission line. Separate contracts will be called for substation and transmission line, said Bista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, for the first time in Nepal, new technology is being used in the construction of a 77 km road in the East-West Highway with this grant. Due to this reason, it is expected that it will be more difficult for Nepali construction companies to build the road. An infrastructure expert said, “Even with the limited financial capacity, technology and experience of the domestic construction companies, it is almost impossible for them to participate in the MCC project on their own, although they can participate through JV.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New technologies such as 'Full Depth Reclamation' and 'Superior Performing Asphalt Pavement (SuperPave)' will be used in the road to be constructed under this project. ‘Full depth reclamation’ is the removal of sand and ballast from the road to be constructed. The old material is reused by adding new cement to it. Similarly, in ‘Superior Performing Asphalt Pavement (SuperPave)’ the road surface is leveled. As this technology is new in Nepal, it seems that the qualification and experience of the domestic construction companies is not enough.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Sharma & Company Ramesh Sharma, on the other hand, said that the size of the contract will depend on the size of the package after the detailed project report (DPR) is prepared. He says that the Nepali construction companies can participate in contracts worth up to Rs 8 billion alone. “If a contract worth Rs 3/4 billion is proposed, it is possible for a Nepali company to get a contract from MCC,” said Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Construction companies of Nepal are now eligible to bid for contracts up to Rs 3 billion after the government increased the capacity through amendment of the procurement regulations. This has also boosted the morale of the domestic companies of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there is a provision that Nepali companies can bag a contract up to Rs 10 billion through JV, Nepali companies will be able to land the contract of MCC even through JV. Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya emphasized on the need to give opportunity to Nepali construction companies. Arguing that the Nepali companies are financially capable and the consultants are also groomed in Nepal, he said that the opportunity should be given to the domestic companies as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14663', 'image' => '20220313053813_MCC.jpg', 'article_date' => '2022-03-13 17:37:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14920', 'article_category_id' => '1', 'title' => 'Cash Margin on Imports to Address Challenges in Economy: Minister Sharma ', 'sub_title' => '', 'summary' => 'March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. </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"">Addressing a seminar organised by the Department of Customs on Sunday, Minister Sharma directed the employees at the department to work hard to achieve the target although the revenue collection was affected due to the tightening of imports </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"">"At present, the country's economy is in a challenging situation. To address the issue, we have imposed margin on some of the imported goods. It will not last forever. Once the challenges are over, the existing situation will ease," said Minister Sharma. </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"">He expressed his confidence that the seminar would be effective to help resolve the issues relating to the Department of Customs as well as to deal with the new challenges emerged due to the new policy. </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"">Similarly, the Minister directed the customs officials to seek solutions through the seminar to address the discontentment of the entrepreneurs with the classification in imports. </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 him, guidelines on vehicle scanning in the customs was in the offing and would be enforced soon. On the occasion, Minister Sharma expressed happiness over the gradual improvement in export business. </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 contribution of export is 10 percent to the total foreign trade,” he said, adding that the country recorded the export business worth Rs 131 billion in the first seven months of the current fiscal year. “But we are not expected to stop here. Our ultimate goal should be for achieving a self-sufficient economy by increasing our contribution to export by 10 percent each year.” </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"">Deputy director general of the department Ananda Kafle said that revenue collection during the first seven months of the current fiscal was Rs 308 billion, a 29 percent rise compared to the corresponding period of last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14662', 'image' => '20220313045813_fin min sharma.jpg', 'article_date' => '2022-03-13 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14919', 'article_category_id' => '1', 'title' => 'Nepal Imports Paddy Worth Over Rs 12 Billion', 'sub_title' => '', 'summary' => 'March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). </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 the state-owned national news agency of Nepal RSS, a total of 426,357,810 kilogrammes of paddy was imported during this period. </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"">Similarly, Nepal imported various species of paddy seedlings worth Rs 30 million from India during the same period. </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 import of paddy as well as paddy seedling and rice has been increasing since some years, shows the data of the Department of Customs. </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"">Paddy weighing over 420 million kilogrammes were procured from India in the first seven months of the current fiscal year, according to the Department of Customs. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14661', 'image' => '20220313043930_1647080623.jpg', 'article_date' => '2022-03-13 16:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14917', 'article_category_id' => '1', 'title' => 'DRI Drags Bottlers' Nepal into Court, Demands Clearance of Rs 7.5 Billion ', 'sub_title' => '', 'summary' => 'March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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Vice President of Birgunj Chamber of Commerce and Industry Madhav Rajpal has written a letter to the consulate in this regard. Rajpal, who is also a coal importer, informed that the Indian Railways have not provided rake at Haldia port for the past 12 days. According to him, no rake has been provided for Nepal due to increasing pressure of coal supply to power plants in India itself.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General in Kolkata Ishwar Raj Poudel said that the consulate has already written letters to the Indian Railways to provide the required number of rakes. He said that they acted as soon as they were notified about the problem.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“About 52 rakes of coal are stuck at the port. Despite repeated requests to the Indian Railways, there is still no response,” said Rajpal. He added that the market is already facing shortage of coal as around 200,000 metric tons of coal is stuck at the port.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">According to the Nepali importers, about 1.5 million metric tons of coal is imported to Nepal annually from India, Indonesia, the USA, Australia and South Africa. Coal imports have increased along with the growth of clinker-based cement industries in Nepal. Coal is an auxiliary raw material of the clinker industry. Coal is also used in brick kilns. According to the industrialists, two-thirds of the total imports of coal are consumed in the clinker industry.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Consul General Poudel is scheduled to inspect the Haldia port on Tuesday to resolve the issue. “We have already written to the southeastern office of the railways. We are going to conduct an on-site inspection of the situation in Haldia,” Poudel said. Haldia Port is 150 kilometers away from Kolkata port.</span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14667', 'image' => '20220314021043_18e588c0-ab9d-4e06-aac1-eda206712995.jpg', 'article_date' => '2022-03-14 14:09:43', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14924', 'article_category_id' => '1', 'title' => 'BFIs Decide not to Increase Interest Rates', 'sub_title' => '', 'summary' => 'March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 14: Banks and financial institutions (BFIs) have decided not to increase interest on deposits in the month of Chaitra (mid-March to mid-April) after concluding that it is not the solution to the current liquidity crisis.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal Rastra Bank (NRB) has made it mandatory for BFIs to issue a public notice regarding the hike of interest rate a day before the beginning of a new month. As the banks have decided not to increase the interest rate, the existing rates will be applicable for the new month as per the Nepali calendar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Separate meetings of Nepal Bankers’ Association, the umbrella body of the CEOs of commercial banks of Nepal, Development Bankers’ Association and Nepal Finance Companies’ Association decided not to increase the interest rates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We agreed not to increase interest rates as it is not the solution to the liquidity crisis. Increasing the interest rate doesn’t necessarily increase deposits and resolve the liquidity crisis,” said Pradhuman Pokharel, chairman of the Development Bankers’ Association.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the existing rules set by the NRB, BFIs had increased the interest rate for the month of Falgun (mid-February to mid-March) by 10 percent. During the review month, banks had fixed the maximum interest rate on personal fixed deposits at 11.03 percent. Similarly, development banks had fixed the maximum interest rate at 12.65 percent while the finance companies had set the interest rate at a maximum of 11.71 percent. The same rates will be applicable in the month of Chaitra (mid-March to mid-April).</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">BFIs were involved in an unhealthy competition of increasing interest rates due to the lack of investible capital in the banking system in the current fiscal year. The interest rates of commercial banks had almost reached 12 percent some four months ago. The central bank then intervened and ordered the banks to lower the interest rates to a single digit.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Issuing a circular in the month of Kartik (mid-October to mid-November), the central bank had allowed banks to increase or decrease the interest rates by a maximum of 10 percent every month. BFIs didn’t increase the interest rates for the next two months after the NRB issued such circular but they decided to increase the interest rate by 10 percent in the month of Falgun (mid-February to mid-March). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Although the BFIs had increased the interest rates with permission from Nepal Rastra Bank’s Governor Maha Prasad Adhikari, Finance Minister Janardan Sharma was unhappy about such decision. Similarly, businessmen and entrepreneurs of the country had also issued separate statements denouncing the hike in interest rates. Despite increasing the interest rate, BFIs have not witnessed any significant improvement in deposit collection.</span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14666', 'image' => '20220314115308_Banks - Copy.jpg', 'article_date' => '2022-03-14 11:52:29', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14923', 'article_category_id' => '1', 'title' => 'Transport Entrepreneurs Demand Hike in Public Transport Fare ', 'sub_title' => '', 'summary' => 'March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">March 14: The Federation of Nepalese National Transport Entrepreneurs (FNNTE) has asked the government to adjust the public transportation fare in the wake of the price hike of petroleum products. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Organising a press conference on Sunday, the federation urged the government to adjust the fare at the earliest while expressing concern over the government's apathy despite skyrocketing price of fuel. </span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's representatives argued that they will be forced to increase the fare themselves if the government does not review the fare.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The federation's Chairman Yogendra Nath Karmacharya said they would adjust the fare on the basis of scientific fare procedure if the existing rate is not reviewed by March 21. He said the transportation fare has not been adjusted even once although the price of the petroleum products has been hiked seven times since July 2021. FNNTE informed that the fare of public transport has not been revised since October 13, 2021. Back then, the price of diesel was Rs 104 per liter, but now the price has jumped to Rs 133 per liter, the transport entrepreneurs said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The transport entrepreneurs said that scientific fare adjustment is needed at the moment when the price of every commodity is increasing in the market. The federation expressed displeasure stating that the government turned a deaf ear to their pleas.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Earlier, a delegation of the Federation of Truck Transport Entrepreneurs, Nepal (FTTEN) had separately met the Director General of Department of Transport Management, Namaraj Ghimire seeking the government initiatives to resolve problems existing in the transportation sector. During the meeting, the delegation submitted a memorandum to Director General Ghimire demanding the adjustment of transport fare to keep up with the increased price of petroleum products </span></span></p> ', 'published' => true, 'created' => '2022-03-14', 'modified' => '2022-03-14', 'keywords' => '', 'description' => '', 'sortorder' => '14665', 'image' => '20220314110643_20200722015124_20171109120628_20171108035347_busbus.jpg', 'article_date' => '2022-03-14 08:22:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14922', 'article_category_id' => '1', 'title' => 'Paddy Farmers Demand Compensation for Faulty Seeds', 'sub_title' => '', 'summary' => 'March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Farmers of Kathmandu valley have been cheated by a company which provided them “unsuitable” paddy seeds promising them of good harvest. Kasthamandap Trade Point had sold paddy seed named DY-28 which was developed by Chinese company and had claimed that the seed would yield plenty of harvest. However, the farmers complained that the plants didn’t develop rice panicles.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">All the investment made by the farmers went down the drain.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, the government has neither taken action against the company nor provided any compensation to the farmers. The farmers have accused that the government of protecting the company. They have also demanded compensation from the government.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The company had made such faulty seeds available to more than 2,200 farmers nine months ago just ahead of the planting season. None of the farmers who planted the DY-28 seeds were able to harvest any grain. The seeds provided by the company grow at an altitude of 700 meters above the sea level while the altitude of Kathmandu is 1,400 meters above the sea level.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Treasurer of the All Nepal Farmers Federation Krishna Prasad Adhikari said that the altitude is the reason why the plants didn’t develop rice panicles. He accused that the company deceived them in buying inappropriate seeds. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the Seed Quality Control Centre, around 7,745 ropanis of land where the seeds were planted didn’t produce any grains. According to Adhikari, the farmers had staged protest at Maitighar about five months ago after the plants didn’t develop rice panicles. Following the protest, the company had reached an understanding with the Seed Quality Control Centre to provide compensation of Rs 2,500 per ropani to the farmers. However, the decision has not been implemented yet.</span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14664', 'image' => '20220313090149_padd.jpg', 'article_date' => '2022-03-13 21:01:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14921', 'article_category_id' => '1', 'title' => 'Nepali Contractors Lack Expertise and Experience to bag Contracts Under MCC', 'sub_title' => '', 'summary' => 'March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 13: Although Prime Minister Sher Bahadur Deuba called upon the Nepali construction companies to take maximum benefit from the Millennium Challenge Corporation (MCC) ratified by the parliament, it is highly unlikely that they will be able to apply for the contract. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The technology, qualifications and experience required for the construction of the transmission line, substation and road under the MCC project are highly advanced, unlike those used by Nepali construction companies.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inaugurating the 23rd Annual General Assembly and 12th Convention of the Federation of Contractors' Associations of Nepal (FCAN) in Kathmandu on Friday, PM Deuba said that Nepali companies should be successful in getting MCC contracts. “As per the provisions of MCC, international bids are invited for the contract,” he said adding, “China and India are the likely contenders for the bids. But, a Nepali construction companies should also be able to come take benefit.” The US government will be spending around USD 500 million (around Rs 55 billion) and the government of Nepal will contribute USD 130 million (around Rs 15 billion) under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">With large investment projects operating in Nepal, it is even more difficult for a Nepali construction company to win a contract. Khadga Bahadur Bista, executive director of Millennium Challenge Account Nepal (MCA) Nepal, informed that the Nepalese companies face an uphill battle to participate in road construction under this project.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Stating that international tender bids will be called within the next six months for the construction of substation, transmission line and road, Bista said that Nepali companies will be able to participate in this tender. “However, the Nepali company must be able to meet the criteria for the contract (package),” said Bista adding, “Besides, due to lack of experience in technology and technical expertise in the construction of roads, transmission lines and substations under the MCC project, the chances of Nepali construction entrepreneurs getting a contract is quite slim.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bista added that it is even more difficult for Nepali construction companies to get involved in road construction but said that the construction of transmission lines and substations can be done through joint venture (JV) companies and subcontractors. Although many are not in favor of splitting the package for the construction of the project, Bista said that discussions are underway to make several packages for the transmission line. He argued that discussions are being held to make some packages for the transmission lines as there could be problems if only one company is selected for the construction of the 315 km transmission line. Separate contracts will be called for substation and transmission line, said Bista.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, for the first time in Nepal, new technology is being used in the construction of a 77 km road in the East-West Highway with this grant. Due to this reason, it is expected that it will be more difficult for Nepali construction companies to build the road. An infrastructure expert said, “Even with the limited financial capacity, technology and experience of the domestic construction companies, it is almost impossible for them to participate in the MCC project on their own, although they can participate through JV.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">New technologies such as 'Full Depth Reclamation' and 'Superior Performing Asphalt Pavement (SuperPave)' will be used in the road to be constructed under this project. ‘Full depth reclamation’ is the removal of sand and ballast from the road to be constructed. The old material is reused by adding new cement to it. Similarly, in ‘Superior Performing Asphalt Pavement (SuperPave)’ the road surface is leveled. As this technology is new in Nepal, it seems that the qualification and experience of the domestic construction companies is not enough.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Chairman of Sharma & Company Ramesh Sharma, on the other hand, said that the size of the contract will depend on the size of the package after the detailed project report (DPR) is prepared. He says that the Nepali construction companies can participate in contracts worth up to Rs 8 billion alone. “If a contract worth Rs 3/4 billion is proposed, it is possible for a Nepali company to get a contract from MCC,” said Sharma.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Construction companies of Nepal are now eligible to bid for contracts up to Rs 3 billion after the government increased the capacity through amendment of the procurement regulations. This has also boosted the morale of the domestic companies of Nepal.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As there is a provision that Nepali companies can bag a contract up to Rs 10 billion through JV, Nepali companies will be able to land the contract of MCC even through JV. Chairman of Independent Power Producers Association of Nepal (IPPAN) Krishna Prasad Acharya emphasized on the need to give opportunity to Nepali construction companies. Arguing that the Nepali companies are financially capable and the consultants are also groomed in Nepal, he said that the opportunity should be given to the domestic companies as well.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14663', 'image' => '20220313053813_MCC.jpg', 'article_date' => '2022-03-13 17:37:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14920', 'article_category_id' => '1', 'title' => 'Cash Margin on Imports to Address Challenges in Economy: Minister Sharma ', 'sub_title' => '', 'summary' => 'March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Finance Minister Janardan Sharma argues that the government imposed cash margin on imports to address the challenges seen in the country’s economy. </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"">Addressing a seminar organised by the Department of Customs on Sunday, Minister Sharma directed the employees at the department to work hard to achieve the target although the revenue collection was affected due to the tightening of imports </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"">"At present, the country's economy is in a challenging situation. To address the issue, we have imposed margin on some of the imported goods. It will not last forever. Once the challenges are over, the existing situation will ease," said Minister Sharma. </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"">He expressed his confidence that the seminar would be effective to help resolve the issues relating to the Department of Customs as well as to deal with the new challenges emerged due to the new policy. </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"">Similarly, the Minister directed the customs officials to seek solutions through the seminar to address the discontentment of the entrepreneurs with the classification in imports. </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 him, guidelines on vehicle scanning in the customs was in the offing and would be enforced soon. On the occasion, Minister Sharma expressed happiness over the gradual improvement in export business. </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 contribution of export is 10 percent to the total foreign trade,” he said, adding that the country recorded the export business worth Rs 131 billion in the first seven months of the current fiscal year. “But we are not expected to stop here. Our ultimate goal should be for achieving a self-sufficient economy by increasing our contribution to export by 10 percent each year.” </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"">Deputy director general of the department Ananda Kafle said that revenue collection during the first seven months of the current fiscal was Rs 308 billion, a 29 percent rise compared to the corresponding period of last fiscal year. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14662', 'image' => '20220313045813_fin min sharma.jpg', 'article_date' => '2022-03-13 16:57:35', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14919', 'article_category_id' => '1', 'title' => 'Nepal Imports Paddy Worth Over Rs 12 Billion', 'sub_title' => '', 'summary' => 'March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: Nepal imported paddy worth more than Rs 12 billion in the first seven months of the current fiscal year (FY 2021/22). </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 the state-owned national news agency of Nepal RSS, a total of 426,357,810 kilogrammes of paddy was imported during this period. </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"">Similarly, Nepal imported various species of paddy seedlings worth Rs 30 million from India during the same period. </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 import of paddy as well as paddy seedling and rice has been increasing since some years, shows the data of the Department of Customs. </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"">Paddy weighing over 420 million kilogrammes were procured from India in the first seven months of the current fiscal year, according to the Department of Customs. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14661', 'image' => '20220313043930_1647080623.jpg', 'article_date' => '2022-03-13 16:38:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14917', 'article_category_id' => '1', 'title' => 'DRI Drags Bottlers' Nepal into Court, Demands Clearance of Rs 7.5 Billion ', 'sub_title' => '', 'summary' => 'March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: The Department of Revenue Investigation (DRI) has registered a writ petition against the Bottlers' Nepal Limited for tax evasion. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department registered the writ petition at the High Court Patan on Friday (March 11) demanding clearance of over Rs 7.436 billion from the Balaju-based company. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The case was filed against the board of directors of Bottlers' Nepal, its managing director and 17 authorized persons mainly responsible for financial transaction and audit. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The charge sheet has noted that the company was involved in evading tax by not completing the process on payment of capital gains tax. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14660', 'image' => '20220313012008_tax-evasionn.jpg', 'article_date' => '2022-03-13 13:19:04', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14918', 'article_category_id' => '1', 'title' => 'Federation of Nepal Cottage and Small Industries gets New Leadership', 'sub_title' => '', 'summary' => 'March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">March 13: Umesh Prasad Singh has been unanimously chosen as the president of the new executive committee of the Federation of Nepal Cottage and Small Industries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Prior to this, Singh has already taken upon the roles of senior vice president, founding member, acting president and other responsibilities of the federation.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Surya Bahadur Kandel has been selected as the senior vice president of the association by the 25th National General Convention of the federation and the 22nd National Women Entrepreneurs Conference organized in Birgunj.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, Purna Bahadur Bhandari from small enterprise, Prakash Rawal from small industries, Chandan Krishna Shrestha from small industries, Mukesh Upadhyay from international relations, Shova Gurung from women’s quota, Mohan Katuwal from commodities, Shanta Baskota Koirala from associates, Satya Narayan Prajapati from cooperatives, Harihar Thapa from agriculture and Rajendra Man Shrestha from tourism have been selected as vice presidents.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Moreover, the federation informed that Dambar Prasad Regmi has been elected as general secretary, Achyut Pandey as treasurer, and Deepak Bahadur Budha as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Similarly, the deputy treasurers include Bhesh Raj Pandey (cooperative), Mahendra Bahadur Chitrakar (commodity), Rudra Prasad Neupane (associate), and Gyan Bahadur Khadka alongside 80 new members.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">A new executive committee of the women entrepreneur committee of the federation has been elected under the chairmanship of Roshni Upadhyaya. The committee consists of 14 members which includes Rita Awal as senior vice president, Krishna Kumari Pathak as vice president for business, Tara Acharya as vice president for organization, Dr Soni Mahato as general secretary, Meena Tamang as treasurer, and Deepa Shakya as secretary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Newly elected chairperson Singh said that she would work for the rights and interests of small, home-based and small-scale industrialists while upholding the dignity of the federation.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14659', 'image' => '20220313043305_17629812_1215515445183982_5951300167011014903_n.jpg', 'article_date' => '2022-03-13 16:32:07', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14916', 'article_category_id' => '1', 'title' => 'China Agrees to Increase Trade Volume with Nepal', 'sub_title' => '', 'summary' => 'March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">March 13: China has agreed to increase the supply of goods to Nepal through the Rasuwagadhi transit point. According to the District Administration Office, Rasuwa, the two sides reached an agreement to increase the supply of Chinese goods during a recent virtual meeting between the border officials of Rasuwa and Jilung Province in Kerung.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Such initiative was taken by the Chief District Officer of Rasuwa Nawaraj Jaisi, who urged his Chinese counterparts to meet the demand of the Nepalese market as Covid-19 cases have declined significantly.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">CDO Jaisi reportedly said that the two countries have agreed to allow 14 containers carrying goods into Rasuwagadhi on a daily basis soon. Currently, nine containers of goods are being imported into Nepal every day from this customs point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali importers and businessmen are said to be happy with the decision to increase the volume of goods from China, the state-owned national news agency RSS reported.</span></span></span><br /> <br /> </p> ', 'published' => true, 'created' => '2022-03-13', 'modified' => '2022-03-13', 'keywords' => '', 'description' => '', 'sortorder' => '14658', 'image' => '20220313113823_Nepal-china-trade.jpg', 'article_date' => '2022-03-13 11:35:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14915', 'article_category_id' => '1', 'title' => 'Most of the Macroconomic Indicators Negative: NRB Report', 'sub_title' => '', 'summary' => 'March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: Most of the macroeconomic indicators of the country are negative in the first seven months of the current fiscal year. The Current Macroeconomic and Financial Situation Report of the first seven months of FY 2021/22 published by Nepal Rastra Bank (NRB) on Friday shows that majority of the indicators are negative.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Nepal’s imports in the first seven months of the current fiscal year stands at Rs 1147 billion which is an increase of 42.8 percent compared to the corresponding period of the last fiscal year. Nepal’s imports had increased by 0.1 percent during the corresponding period of last year, according to the NRB report.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Economists say that the people will ultimately have to bear the consequences as Nepal’s economy is driven by imports. Economist Dr Resham Thapa says that the country’s overall economy is slipping behind.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“All the economic indicators of the last seven months are negative,” said Thapa, adding, “This will directly impact the general public. Inflation is also more than last year. The indicators clearly show that inflation is going to further rise in the near future.”</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the central bank’s report, Gross foreign exchange reserves decreased 16.2 percent to Rs 1173.02 billion in mid-February 2022 from Rs 1399.03 billion in mid-July 2021.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The country’s foreign exchange reserves are enough for imports of goods and services for the next six months. However, economists argue that the country’s foreign exchange reserves are not what they seem to be due to the increase in prices of gold, petroleum products and the rate of US dollars. Thapa argues that Nepal has failed to capitalize on the rise in US dollar because its economy is import-oriented.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Of the total foreign exchange reserves, reserves held by NRB decreased 17.7 percent to Rs 1024.60 billion in mid-February 2022 from Rs 1244.63 billion in mid-July 2021. Reserves held by banks and financial institutions (except NRB) decreased 3.9 percent to Rs 148.42 billion in mid-February 2022 from Rs 154.39 billion in mid-July 2021. The share of Indian currency in total reserves stood at 24.2 percent in mid-February 2022.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Balance of Payments (BOP) remained at a deficit of Rs 247.03 billion in the review period against a surplus of Rs 97.36 billion in the same period of the previous year. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Inflow of remittance decreased 4.9 percent to Rs 540.12 billion in the review period against an increase of 10.9 percent in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The year-on-year consumer price inflation stood at 5.97 percent in the seventh month of FY 2021/22 compared to 2.70 percent a year ago. Food and beverage inflation stood at 6.00 percent whereas non-food and service inflation stood at 5.96 percent in the review month.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The current account remained at a deficit of Rs 413.86 billion in the review period compared to a deficit of Rs 104.39 billion in the same period of the previous year.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Experts argue that the impact of Russia-Ukraine war that broke on February 24 has already affected Nepal’s market but the central bank’s report does not show the impact of war.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14657', 'image' => '20220311064519_Nepal_Rastra_Bank2 2.jpg', 'article_date' => '2022-03-11 18:44:40', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14913', 'article_category_id' => '1', 'title' => 'Concept of Fertiliser Plant Limited to Papers', 'sub_title' => '', 'summary' => 'March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A few days ago, the government signed an agreement with India to purchase 935,000 metric tons of chemical fertiliser for five years. With Nepal consuming 750,000 to 800,000 metric tons of fertiliser every year, it is said that the fertiliser coming from India will be insufficient.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has been importing fertiliser from different countries since many years. However, farmers are always suffering due to the scarcity of the fertiliser. Although it is necessary to establish a chemical fertiliser factory in the country, no work has been done in this regard.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The government has plans to set up a factory in the country. However, all the plans are limited to paper works. A study conducted by the Government of Nepal suggests that Rs 130 billion is required initially to set up the factory and an additional investment of Rs 22.13 billion is required for operation of the factory.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chandrakanta Dallakoti, chairperson of Seed Entrepreneurs’ Association of Nepal (SEAN) said that once the factory is established, Nepal will require around Rs 100 billion budget to produce 840 metric tons of fertilisers on a daily basis. Nepal has not been able to manage natural gas, which is the most important requirement for the production of fertiliser. He is of the view that before establishing the factory, the government should plan for the regular supply of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">As per the study by the Investment Board Nepal, around 550 megawatts of electricity is required if electricity is used instead of gas.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Joint Secretary at the Ministry of Agriculture and Livestock Development Prakash Kumar Sanjel, says that the topic of establishing such factory is a complex issue at the moment as the regular supply of gas is required.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He estimates that it will take at least five years to open the factory as the government is conducting study at the moment. However, he said that establishing the factory is an excellent alternative to end the dependency of the country on neighboring countries for fertilizer. </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14656', 'image' => '20220311060319_fertilizer-factory-plants-500x500.jpg', 'article_date' => '2022-03-11 18:00:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14914', 'article_category_id' => '1', 'title' => 'Japan Provides Grant Assistance for Improvement of Water Supply in Biratnagar ', 'sub_title' => '', 'summary' => 'March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 10: The Government of Japan has decided to extend grant assistance of Rs 2.7 billion to the Government of Nepal for the implementation of the Project for the Improvement of Water Supply in Biratnagar. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Japan’s Ambassador to Nepal, Kikuta Yutaka, and Secretary at the Ministry of Finance, Madhu Kumar Marasini, signed notes to this effect on March 10. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Another Grant Agreement for implementing the project was signed by Chief Representative of JICA Nepal, Okubo Akimitsu, and Joint Secretary at the International Economic Cooperation and Coordination Division of the Ministry of Finance, Ishwori Prasad Aryal. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project aims to enhance the living standard for the people of Biratnagar City by renovating and expanding the water supply facilities, thereby broadening the water supply area in Biratnagar City. At present, people in Biratnagar have to depend on shallow wells to get water for daily household use and have been affected by shortage of safe drinking water. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This project will contribute to improving “access to stable supply of water” for about 100,000 people by constructing new deep wells and water purification facilities. Furthermore, some of the existing facilities would also be renovated. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, Ambassador Kikuta stated that the Government of Japan has been providing multifaceted assistance for the betterment of the living standard of Nepali citizens, adding that Japan extended multiple support, including timely vaccine support to prevent and control the COVID-19. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Likewise, Japan has extended financial support for economic stabilization and development of post COVID-19 Nepal in January. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“This time, our assistance is providing safe water which is of vital importance for human life,” Ambassador Kikuta further said adding that this support would be effectively utilized to upgrade living standards in Biratnagar city. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Japan is committed to extending all possible assistance to Nepal in its endeavor for nation building and strengthening the friendly relationship between the peoples of Japan and Nepal," the Japanese Ambassador</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, Secretary Marasini on the behalf of the Government of Nepal thanked the Japanese government for its continued support in Nepal's socio-economic development endeavours. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14655', 'image' => '20220311061622_1646947747.Clipboard07.jpg', 'article_date' => '2022-03-11 18:15:39', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14912', 'article_category_id' => '1', 'title' => 'Maintenance of Flood-Ravaged Melamchi Project 60 Percent Complete', 'sub_title' => '', 'summary' => 'March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">March 11: The repair and maintenance of the Melamchi Water Supply Project (MWSP), which was damaged by the floods and landslides that occurred on June 15, is 60 percent complete. Padam Bahadur Kunwar, divisional engineer of the Melamchi Water Supply Development Board informed that they are preparing to supply water to the Kathmandu Valley by mid-April temporarily.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He said that the Chinese contractor Sino Hydro has already completed 60 percent of the work of clearing off the river debris with the help of the Nepalese Army.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kunwar informed that the repair work has reached the final stage as only gates 1, 9 and 38 of Melamchi river will be used to supply water to Kathmandu temporarily. As there occurs some technical glitches on hydraulic systems in gate number 38, its maintenance is also underway, he further shared. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board says that water can be supplied to Kathmandu by mid-April as the clearing of flood and landslide debris at the source of water is in the final stage. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has been a decades-long dream of Kathmandu denizens to have access to water being supplied from Melamchi. Right when the dream was about to be fulfilled, it got further postponed due to the damage caused by the floods and landslides on June 15. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The board aims to distribute 170 million liters of water daily in the Kathmandu Valley by next April. However, Kunwar said that the tunnel would have to be shut down for another four months as soon as it starts raining.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">He shared that the Asian Development Bank is also carrying out a study on landslide prevention and control in the project site. Stating that 60,000 metric tons of debris has been removed from the tunnel, he said blasting-related task has also come to a final stage. </span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14654', 'image' => '20220311030754_ETShVBWUcAALuqj.jpg', 'article_date' => '2022-03-11 15:07:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14911', 'article_category_id' => '1', 'title' => 'Nepal-China Interstate Transmission Line to cost Rs 10 billion on Nepal’s Side', 'sub_title' => '', 'summary' => 'March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">March 11: A feasibility study of the proposed Nepal-China Ratmate-Rasuwagadhi-Kerung interstate transmission line has been completed in the Nepal section. A team from the Nepal Electricity Authority (NEA) had studied the feasibility of the transmission line to be built in the Nepal section. The team has studied and submitted its report to the NEA.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">Chief of Nepal-China Interstate Transmission Line Project Komal Nath Atreya confirmed that the feasibility study of the project has been completed. The study also showed that it is possible to build a Nepal-China interstate transmission line.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">“The study has shown the possibility of a transmission line. The work of Environmental Impact Assessment and Detailed Project Report (DPR) is now underway,” he said. The Environmental Impact Assessment will start from the first week of April, and the NEA will make the DPR jointly with China. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">He said that the work of environmental impact assessment will be completed within seven months. For the DPR, an agreement between China and Nepal will be signed this month (March).</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line of the Nepal section will be of a 400 kV circuit, it will have 207 towers, which will cost Rs 10 billion to build, said Atreya. He said that the length of the transmission line in Nepal will be of 70 kilometers. The total length of the transmission line will be 149 kilometers. On the Chinese side, the length of the transmission line will be 79 kilometers. After the operation, the transmission line will import and export 3,000 MW of electricity between Nepal and China.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The study suggests that the transmission line of the Nepal section can be made through two different routes. It has been stated that a transmission line can be constructed from Ratmate to Kerung through Chileme Hub. Similarly, the study has also suggested that a transmission line can be constructed from Ratmate to Kerung via Langtang National Park.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The construction of the transmission line from Chilime Hub will cost more. However, technically, it seems to be appropriate to build a transmission line from this route. However, the construction of a transmission line passing through a national park, even if it is easy, is not suitable. Therefore, there is a plan to build a transmission line from the route of Chilime Hub, said Atreya.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">China is also working to build transmission lines in some parts of its territory. Convert station will be built in Kerung (towards China). It will then be connected to a substation in Jirong County, China, within 79 kilometers of Kerung trade point.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">The transmission line will be connected to the substation to be built under the MCC project in Ratmate. The proposed substation at Ratmate will be connected to all the transmission systems of Nepal. It will also have connections to the international transmission line to India. In such case, Nepal can become a transit point for trilateral electricity trade between Nepal, India, and China, the study shows.</span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-03-11', 'modified' => '2022-03-11', 'keywords' => '', 'description' => '', 'sortorder' => '14653', 'image' => '20220311025357_Transmission.jpg', 'article_date' => '2022-03-11 14:52:49', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
