February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May,…
February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May,…
February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal…
February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum…
February 1: The government has decided to accept a concessional loan of US$ 150 million from the World…
February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed…
February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night.…
February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental…
February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at…
February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service…
January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY…
January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level…
January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government…
January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official…
January 31: Farmers of Chitwan have demanded an immediate hike in price of milk and milk…
January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic.…
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Officials of the commission have estimated that the amount would be spent on holding elections in one phase in all 753 local units. According to the commissioners, a lot of budget will be spent on salary, daily allowance, travel expenses and other facilities of the manpower to be deployed for the election. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In 2074 BS, more than Rs 8 billion was spent for the election held in three phases. About 2 million voters have been added since the 2074 election. Now, expenditure for polling stations and booths, ballot papers, and polling materials etc will be added accordingly in the budget. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The commission also claimed that the expenditure would also increase as the use of information technology at polling stations should be increased to ensure cleanliness and fairness during election and to control unwanted activities at polling stations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The election commissioners had also informed Prime Minister Sher during a meeting held on Tuesday that additional expenses would be incurred for health safety standards due to Covid-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">After the discussion, it has been agreed to hold the local level election in a single phase on May 18, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Election Commission spokesperson Shaligram Poudel said that Prime Minister Sher Bahadur Deuba has promised to complete the necessary process and move ahead with the preparations for holding the election on the scheduled date. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, the commission had suggested the government to hold local level elections in one phase on April 27 and in two phases on April 27 and May 5. However, due to differences within the ruling coalition, the government was unable to set a date for local elections. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A meeting of the ruling coalition held last Saturday had agreed to hold local elections in May by amending the law. But PM Dueba called the commissioners for discussion after agreeing to hold local elections within the deadline without amending the law. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tenure of people's representatives at the local level is expiring on May 19. It seems that the date of the election has been fixed as per the legal obligation to hold the local level election before the deadline. </span></span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14450', 'image' => '20220202020622_politics.jpg', 'article_date' => '2022-02-02 14:05:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14706', 'article_category_id' => '1', 'title' => 'NRB signs MoU on Piloting Psychometric Scoring Solution with IFC ', 'sub_title' => '', 'summary' => 'February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><em>MoU signing ceremony on Tuesday. Photo Courtesy: NRB</em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The psychometric scoring system is expected to innovatively present loan flow to the fiscal system compatible with technology and would help make the system further tech-savvy and promote simple and risk-free credit flow, NRB said in a statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the Department of Microfinance Institutions Supervision of the central bank, Suman Prasad Adhikari, and IFC’s Resident Representative for Nepal Babacar Sedikh Faye signed the MoU on behalf of their respective organisations on Tuesday (February 1). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tool is also expected to help banks and financial institutions to develop credit risk profile based on data analysis of the credit character and psychological being of potential borrower and encourage service recipients to mainstream in formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the tool is to be tested in the financial system of Nepal for two years in collaboration with the Government of Japan and the United Kingdom. This will also help bring the people receiving micro and small loan and micro, small and medium enterprises to the ambit of formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the signing ceremony, NRB Governor Maha Prasad Adhikari thanked the IFC Resident Representative for providing NRB an opportunity for the new collaboration and said that the new MoU would make the microcredit management technology-friendly. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14449', 'image' => '20220202123748_NRB psychometric.jpg', 'article_date' => '2022-02-02 12:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14705', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products Again', 'sub_title' => '', 'summary' => 'February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products. The state-owned oil monopoly has increased the price of diesel, petrol and kerosene effective from February 1 midnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised price list, diesel, petrol and kerosene each will cost Rs 3 more to the customers. The price of diesel and kerosene will now cost Rs 125 per liter each while petrol will cost Rs 142 per liter starting from February 2. However, the price of cooking gas (LPG) remains unchanged, the NOC said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC said in a statement that the price of LPG has not been changed despite incurring losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Meanwhile, he NOC has increased the price of aviation turbine fuel (ATF) for domestic flights by Rs 10 per liter to Rs 116 per liter. The price of ATF for international flights has also been increased by USD 100 per kiloliter to USD 1,095. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the NOC had increased the prices of petroleum products on January 19.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC has hiked the prices of petroleum products eight times in the last eight months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first lockdown in March 2020, the price of petrol was Rs 96 per litre.</span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14448', 'image' => '20220202113949_Petrol-Price-Increase.jpg', 'article_date' => '2022-02-02 11:39:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14704', 'article_category_id' => '1', 'title' => 'Government to Accept USD 150 Million Concessional Loan from WB ', 'sub_title' => '', 'summary' => 'February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. </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 government has formed a talks team to proceed ahead the process of acquiring the loan under the ‘Finance for Growth Development Policy Credit’ to Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Communication and Information Technology Gyanendra Bahadur Karki made such announcement on Tuesday while unveiling the decisions taken by the cabinet meeting on January 31.</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 meeting also decided to waive fees for deposit and grant permit to the expedition team of the Nepalese Army. </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"">Other decisions include granting approval in principle to the Ministry of Education, Science and Technology to start the process to establish hospital for teachers. </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 government also decided to declare public holiday across the country on February 2 on the occasion of Sonam Lhosar, informed Minister Karki.</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""> As per the cabinet decision, former chairperson of Nepal Press Union Samir Jung Shah has been appointed the Chairperson of the Nepal Television for a maximum of four-year term. </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"">Prof Dr Shilu Manandhar has been appointed as the vice-chancellor of the Nepal Open University. Joint-Secretary Ramesh Dangal has been promoted as the secretary of the government. Jurisdiction has been determined for the Land Revenue Office and Office of Survey, according to Karki. </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 meeting also fixed the minimum price of unprocessed milk at Rs 56.4 per litre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14447', 'image' => '20220201082005_Logo_of_Nepal_(2020).jpg', 'article_date' => '2022-02-01 20:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14699', 'article_category_id' => '1', 'title' => 'Business Organizations Stand in Defense of Corruption-Accused Industrialists ', 'sub_title' => '', 'summary' => 'February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) issued a joint statement on Monday (January 31), expressing serious concern over the negative impact that it would have on investment promotion, job creation and overall development and expansion of the private sector in Nepal, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They claim that the recent corruption scandal against investors in the cement industry has discouraged the private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Shekhar Golchha, President of CNI Bishnu Kumar Agrawal and President of the NCC Rajendra Malla have jointly signed and issued the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The anti-graft body had filed cases against the operators of nine cement industries as well as officials of the Department of Mines and Geology (DMG) in the last week of January accusing the DGM employees of waiving fines amounting to over Rs 1.2 billion to the cement industries for extracting limestone by breaching the rules. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the government had to incur losses of over Rs 1.2 billion in fine from the cement factories, said a three-member committee formed to investigate the matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed cases against the then superintendent mining engineer of the DMG Jayaraj Ghimire, undersecretary (law department under the DMG) Sapana Adhikari, senior division mechanic engineer Prashanta Bohora, account officer Shree Bhadra Gautam, research officer Basanta Adhikari, geologist Dr Sainik Bhandari and employee Dharma Raj Khadka and deputy attorney Chandra Kumari Pokharel. It has claimed over Rs 1.2 billion from the accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the CIAA has also taken action against nine industries that have been found involved in the case. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has claimed over Rs 163 million from Bishnu Prasad Neupane, owner of Sarbottam Cement; over Rs 494 million from Pashpati Murarka, owner of Siddhartha Minerals Pvt Ltd; over Rs 205 million from Sharad Gogal, owner of Maruti Cement; over Rs 111 million from Rishi Agrawal, owner of Annapurna Quarries; over Rs 17 million from Prabal Jung Pandey, owner of Udayapur Minerals; over Rs 96 million from Naresh Dugad, owner of United Cement; over Rs 69 million from Nipesh Tayal, owner of Sonapur Cement; over Rs 30 million from Bhim Bahadur Thapa Chhetri, owner of Kanchan Quarries and over Rs 54 million from Man Bahadur Shrestha, owner of Dolomite Limestone Industry.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14443', 'image' => '20220201031915_20220127113738_CIAA.jpg', 'article_date' => '2022-02-01 15:18:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14700', 'article_category_id' => '1', 'title' => 'Influence of Westerly Wind Likely to Increase ', 'sub_title' => '', 'summary' => 'February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. ', 'content' => '<p><em>This recent photo shows snowfall in Simikot, Humla. Photo Courtesy: RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology shared that currently the weather in hill areas is partly cloudy while many parts of the Terai are blanketed by dense fog. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to the spell of the Westerly wind, there is likelihood of light rainfall and snowfall on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley has witnessed sunshine due to which the severe cold felt few days ago by to the influence of the Westerly low-pressure system has been decreased to some extent. The minimum temperature of Kathmandu Valley was measured at 4.4 degrees Celsius and the maximum at 17 degrees Celsius over the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has forecast partly to generally cloudy conditions in Province 1, Bagmati Province and Gandaki Province today afternoon (February 1) while the remaining parts will be partially cloudy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely in few places of Province 1, Bagmati Province and Gandaki Province and in a couple of places in Madhesh Province and Lumbini Province today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Province 1, Bagmati Province and Gandaki Province will remain partially to generally cloudy tonight while light rainfall is likely in few places in Province No 1 and Gandaki Province, the Department said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14442', 'image' => '20220201032150_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-01 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14698', 'article_category_id' => '1', 'title' => 'Food Management and Trading Company builds Structure against Set Standard ', 'sub_title' => '', 'summary' => 'February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairperson of KMC-11 Hiralal Tandukar informed that the state-owned company has violated the criteria set by the Council of Ministers while giving the seven ropanis of land of Bhadrakali Plaza in rent and has not even paid the land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company had published a public notice five years ago to provide the company's land on lease. According to Sarmila Neupane Subedi, information officer of the company, among more than 20 bidding companies, an agreement was done with Funland Entertainment Pvt Ltd on June 21, 2017 who agreed to pay Rs 1.51 million per month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the company has rented the land, they have not paid the tax. Nepal Telecom, Rastriya Banijya Bank, Agricultural Development Bank and Insurance Board Nepal at Bhadrakali Plaza have been paying taxes to the ward office. According to the ward office, there are other offices in the area that have not paid the taxes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The chief executive officer of the company, board members and other officials had visited the ward office to seek recommendation for selling its land to the metropolitan police. I asked them to pay the tax first, but they sold the land without paying the tax under pressure from higher authorities," Tandukar said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Council of Ministers had amended the construction standards in the municipalities and urban VDCs within the Kathmandu Valley on November 16, 2008. According to the new standard, while constructing any structure on the river bank, the builder must leave 20/20 meters of land on both sides of Bagmati, Bishnumati and Manohara rivers, and in the case of Rudramati (Dhobikhola) the distance specified by Dhobikhola project should be maintained while the criteria for other rivers is nine meters. <em>(with inputs from RSS)</em></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14441', 'image' => '20220201014844_FMTCL.jpg', 'article_date' => '2022-02-01 13:45:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14697', 'article_category_id' => '1', 'title' => 'NOC Incurs Monthly Loss of Rs 4 Billion', 'sub_title' => '', 'summary' => 'February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present. The NOC said it has had to incur such a great loss due to the increase in prices of petroleum products. The NOC added that its net loss has increased as the loss incurred through the sales of cooking gas (LPG) is excessive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NOC said it is incurring a loss of Rs 2.24 billion just from the sales of LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of NOC, Sushil Bhattarai, informed that the state-owned oil monopoly has to incur maximum losses from the trading of LPG among petrol, diesel, aviation fuel, kerosene and LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NOC claims that it has been suffering from loss despite increasing the prices of petroleum products time and again. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The last time NOC hiked the prices was on January 19. Although the NOC is supposed to revise the price list every fortnight as per the automatic pricing mechanism after the Indian Oil Corporation provides the new list, NOC has failed to comply with the mechanism.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14440', 'image' => '20220201012649_20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2022-02-01 13:26:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14696', 'article_category_id' => '1', 'title' => 'Department of Cooperatives Preparing to Issue Unified Directive', 'sub_title' => '', 'summary' => 'February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department is planning to introduce strict rules for implementing provisions related to distribution of dividends, establishment of service centres, money laundering under the Cooperatives Act and Regulations through a unified directive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the first time that the Department of Cooperatives is preparing to issue a unified directive after the implementation of the Cooperatives Act 2074. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Act has a provision for the registrar to issue directives to the cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have prepared a unified directive with almost 100 new provisions in line with the Cooperatives Act,” said Registrar of the department Jhalakram Adhikari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will take suggestions from all stakeholders and finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department had held discussion regarding the issue with representatives of cooperatives on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a source at the department, they are focused on implementing the Cooperatives Act and Regulations through the directive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The draft of the directive has proposed barring cooperatives with more than 5 percent bad loans from distributing dividends. Such a proposal has been made because distribution of dividends risks the organization when bad debts are high. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, cooperatives will face action if they open service centres without taking permission from the department. The new directive also has provision that requires cooperatives to inform the department about suspicious transactions in order to discourage money laundering.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14439', 'image' => '20220201115425_Cooperative dept.jpg', 'article_date' => '2022-02-01 11:53:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14695', 'article_category_id' => '1', 'title' => 'Interest on Loans to go up as Average Spread Rate of Commercial Banks Falls to 3 Percent ', 'sub_title' => '', 'summary' => 'January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79). </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 spread rate, which was 4.6 percent on average in the second quarter of FY 2077/78, has decreased by 1.6 points during this period.</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"">Nepal Rastra Bank has asked the commercial banks to maintain the spread rate of 4.4 percent through the Unified Directive, 2078 BS. Spread rate is the difference between the interest rate charged by banks on loans and deposits. The spread rate shows the earnings of the banks. The higher the spread rate, the more banks earn.</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 spread rate of Agriculture Development Bank has increased by 0.01 percentage points in the second quarter of the current fiscal year compared to the second quarter of last FY. The bank's spread rate was 4.37 percent in the second quarter of last year while it stood at 4.38 percent in the corresponding period this year.</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"">Bankers have said that the fall in spread rate will have a direct impact on the bank's profit. According to Krishna Bahadur Adhikari, Chief Executive Officer of Nepal Bank, the spread rate has decreased in the second quarter of the current fiscal year due to the rise in interest rates on deposits. </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"">"Decreasing the spread rate has a direct impact on the bank's profits. Although the profit of the banks has increased as compared to the second quarter of last year, it has not increased as per the business expansion,” he said.</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 official said that the interest rate on loans will increase in the coming days as the spread rate has declined in the second quarter of the current fiscal year due to stabilization of interest rates and an increase in interest rates of depositors.</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"">Manoj Gyawali, general manager of Nabil Bank, said that the spread rate has been directly affected as the NRB has tightened the interest rate difference between savings and term deposits by issuing a circular after the banks indulged in unhealthy competition by raising interest rates. The rate of all savings also went up after the NRB issued a circular stating that the difference in interest rates between term deposits and savings should not be more than 5 percentage points. As a result, the base rate has increased and the spread rate has decreased, 'he said.</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 spread rate of 11 commercial banks has been above average in the second quarter of the current fiscal year. Agriculture Development Bank, Rastriya Banijya Bank, NIC Asia Bank, Global IME Bank, Prime Commercial Bank, Nabil Bank, Kumari Bank, Prabhu Bank, Nepal SBI Bank, Citizens Bank, and Civil Bank are among the banks with spread rate above average in the second quarter of the current fiscal year. The spread rate of these banks is more than 3 percent. However, 16 banks have a below-average or 3 percent spread rate.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14438', 'image' => '20220131063946_Banks - Copy.jpg', 'article_date' => '2022-01-31 18:39:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14694', 'article_category_id' => '1', 'title' => 'Local Level Election Expected to Ease Liquidity Crisis ', 'sub_title' => '', 'summary' => 'January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.</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 market, which had declined by 151.36 points last week, has increased by 105.55 points on the first trading day of this week on Sunday. </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"">On Sunday, the Nepse index closed at 2,885.53 points. Investors are excited after the ruling party agreed to hold the local elections in May. </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"">Vice President of Capital Market Reform Struggle Committee Tara Prasad Fullel said that investors are confident that a capable government will be formed through the upcoming local elections. He is of the view that the market will gain momentum this year as well like it did in previous years during the election. </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 says that the market has become positive on Sunday due to the tendency of investors to be active in raising cheap stocks when the market continues to decline. He further said the investors believe that the forthcoming election will bring liquidity into banks and financial institutions. </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 transaction amount has also increased on Sunday as compared to the previous trading day on Thursday. More than Rs 3.34 billion shares were traded on Thursday while on Sunday, shares worth Rs 6.32 billion have been traded. </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"">Api Power had the largest share in the total transaction amounting to Rs 261.516 million. </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 the market rises, the value of the investor's assets also increased by Rs 149.16 billion. Last Thursday, the total market capitalization stood at Rs 3.92 trillion which increased to Rs 4.077 trillion on Sunday. </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"">All group indicators have increased on Sunday. Investors of development banks and investment groups have earned the most on Sunday. The development banks’ group index increased at 6.56 percent and the investment group index increased at 6.35 percent. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14437', 'image' => '20220131021159_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2022-01-31 14:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14693', 'article_category_id' => '1', 'title' => 'FDI's Contribution to GDP less than 1 Percent', 'sub_title' => '', 'summary' => 'January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A recent study report released by the Policy Research Institute states that the contribution of foreign direct investment to the GDP is 0.54 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the SAARC countries, the Maldives tops the list of beneficiaries to be benefit from FDI in GDP. Foreign direct investment accounts for 17.5 percent of the GDP in the Maldives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is second on the list, with 1.76 percent share of foreign investment to its GDP. Similarly, FDI contributes 0.80 percent to Pakistan's GDP, 0.63 percent to Bangladesh and 0.54 percent to Nepal's GDP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has the largest share of foreign investment in Nepal. It has made an investment of Rs 56 billion and holds 31 percent share of foreign investment in the country. China is the second largest investor with an investment of Rs 27.56 billion and Saint Kitts and Nevis, a Caribbean country, is the third largest investor with Rs 24.94 billion investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has received FDI worth Rs 11.93 billion from Ireland, Rs 8.72 billion from Singapore, Rs 7.63 billion from Australia, Rs 6.85 billion from the UAE, Rs 5.11 billion from Bangladesh, Rs 4.47 billion from South Korea and Rs 4.47 billion from the United States. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal has received Rs 182 billion in foreign investment until July 2019. Of Rs 196 billion FDI received in 2019/20, Rs 16.07 billion has been in the field of hydropower and irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study shows that about 82 percent of the foreign investment received is directed towards energy, gas and irrigation projects. Likewise, seven percent investment has been made in the transport storage and communication sector and 11 percent in the rest. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati Province has received 65.5 per cent FDI, Gandaki and Madhes have received 14 per cent each and the rest ten per cent has been received by Lumbini, Karnali and Far-Western provinces.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14436', 'image' => '20220131015956_20210115025352_20160222122813_ep3.jpg', 'article_date' => '2022-01-31 13:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14692', 'article_category_id' => '1', 'title' => 'Cooperative Stabilization Fund Courts Controversy before Official Launch', 'sub_title' => '', 'summary' => 'January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite initiating the process to launch the fund in accordance to the Cooperative Act related regulations, the concerned authorities have not been able to operate the fund due to dispute over the issues of operation modality and ownership.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The law has provision to include all the cooperatives that are involved in credit and savings business. Nepal Savings and Credit Central Association </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, some cooperatives have alleged that the Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN), the umbrella body of cooperatives in Nepal, is trying to operate the fund single-handedly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This has cast doubt over the operation of the fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Cooperatives Regulation has a provision for the chairman of NEFSCUN to lead the fund while the CEO of the federation will have the post of member secretary of the fund. Taking advantage of this provision, NEFSCUN started operating the fund by recruiting its members in the fund. The decision came under criticism from other cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Land Management, Cooperatives and Poverty Alleviation had formed a work procedure to operate the fund two years ago. NEFSCUN then organized a meeting of cooperatives in January-February 2020 and initiated the process to register the fund at the Department of Investment. However, both the department and the ministry denied such permission after protest from the cooperative sector. NEFSCUN, however, has been pressing for the operation of the fund without registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the work procedure, cooperatives that have completed five years of operation and those that have been undergoing annual audit can be affiliated to the fund. The fund can be operated only after the deposit amount reaches Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the fund has collected Rs 700 million from 181 affiliated members.</span></span></p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14435', 'image' => '20220131122215_ssss.jpg', 'article_date' => '2022-01-31 12:21:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14691', 'article_category_id' => '1', 'title' => 'Farmers Demand Hike in Milk Price ', 'sub_title' => '', 'summary' => 'January 31: Farmers of Chitwan have demanded an immediate hike in price of milk and milk products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Chitwan have demanded an immediate hike in price of milk and milk products. They have also warned of launching struggle if the unit price of milk is not increased at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference in Chitwan on Sunday, Chitwan Milk Producers Cooperative Association Limited warned that they would mount pressure on the concerned authorities to increase the unit price of milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They have demanded an increment of Rs 15-20 per liter of milk. It has been learnt that the government is making preparation to increase the price of milk by Rs 10 per liter and provide Rs 7 to the farmers and Rs 3 to the dairy industry. </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"">Chairman of the association Rudramani Neupane said this scheme would not be enough to maintain the unit cost of the farmers in producing milk. </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"">“With hefty rise in the price of feeds and veterinary medicines, the unit production cost of a liter of milk has reached Rs 63. Therefore, the unit price should be hiked in a way to maintain the production cost,” he said. </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"">Chairman Neupane added that they are preparing to launch agitation since the price of milk price not been increased as pledged before. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14434', 'image' => '20220131114329_20160707123024_milk.jpg', 'article_date' => '2022-01-31 11:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14690', 'article_category_id' => '1', 'title' => 'Finance Minister Admits Lack of Development-Friendly Policies, Structures ', 'sub_title' => '', 'summary' => 'January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. He made such remark during a meeting with the economic experts on Sunday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Inadequacy of appropriate policy and necessary structures has hindered development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. “It has direct bearing on the national economy.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Minister further said politics is the centre of several problems, so consensus among political parties is imperative. It is necessary to frame appropriate economic policy, he further stressed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, the experts said although the national economy was not pushed to the brink, certain measures should be adopted to avert the worsening situation. The restriction on import should be continued till the balance of payments (BoP) is normalized for foreign currency reserve. They suggested to the minister that the capital expenditure must be increased, agricultural products need a boost and debt in unproductive sectors discouraged to make the economy dynamic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The discussion was attended by former vice-chairperson of the National Planning Commission Dr Shankar Sharma and Dr Min Bahadur Shrestha, Prof Dr Bishwambher Pyakurel, former ambassador to India, Dr Durgeshman Singh, political and economic analyst Hari Roka and Dr Ram Kumar Phunyal. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-30', 'modified' => '2022-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '14433', 'image' => '20220130083311_fin min sharma.jpg', 'article_date' => '2022-01-30 20:32:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Officials of the commission have estimated that the amount would be spent on holding elections in one phase in all 753 local units. According to the commissioners, a lot of budget will be spent on salary, daily allowance, travel expenses and other facilities of the manpower to be deployed for the election. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In 2074 BS, more than Rs 8 billion was spent for the election held in three phases. About 2 million voters have been added since the 2074 election. Now, expenditure for polling stations and booths, ballot papers, and polling materials etc will be added accordingly in the budget. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The commission also claimed that the expenditure would also increase as the use of information technology at polling stations should be increased to ensure cleanliness and fairness during election and to control unwanted activities at polling stations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The election commissioners had also informed Prime Minister Sher during a meeting held on Tuesday that additional expenses would be incurred for health safety standards due to Covid-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">After the discussion, it has been agreed to hold the local level election in a single phase on May 18, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Election Commission spokesperson Shaligram Poudel said that Prime Minister Sher Bahadur Deuba has promised to complete the necessary process and move ahead with the preparations for holding the election on the scheduled date. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, the commission had suggested the government to hold local level elections in one phase on April 27 and in two phases on April 27 and May 5. However, due to differences within the ruling coalition, the government was unable to set a date for local elections. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A meeting of the ruling coalition held last Saturday had agreed to hold local elections in May by amending the law. But PM Dueba called the commissioners for discussion after agreeing to hold local elections within the deadline without amending the law. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tenure of people's representatives at the local level is expiring on May 19. It seems that the date of the election has been fixed as per the legal obligation to hold the local level election before the deadline. </span></span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14450', 'image' => '20220202020622_politics.jpg', 'article_date' => '2022-02-02 14:05:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14706', 'article_category_id' => '1', 'title' => 'NRB signs MoU on Piloting Psychometric Scoring Solution with IFC ', 'sub_title' => '', 'summary' => 'February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><em>MoU signing ceremony on Tuesday. Photo Courtesy: NRB</em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The psychometric scoring system is expected to innovatively present loan flow to the fiscal system compatible with technology and would help make the system further tech-savvy and promote simple and risk-free credit flow, NRB said in a statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the Department of Microfinance Institutions Supervision of the central bank, Suman Prasad Adhikari, and IFC’s Resident Representative for Nepal Babacar Sedikh Faye signed the MoU on behalf of their respective organisations on Tuesday (February 1). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tool is also expected to help banks and financial institutions to develop credit risk profile based on data analysis of the credit character and psychological being of potential borrower and encourage service recipients to mainstream in formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the tool is to be tested in the financial system of Nepal for two years in collaboration with the Government of Japan and the United Kingdom. This will also help bring the people receiving micro and small loan and micro, small and medium enterprises to the ambit of formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the signing ceremony, NRB Governor Maha Prasad Adhikari thanked the IFC Resident Representative for providing NRB an opportunity for the new collaboration and said that the new MoU would make the microcredit management technology-friendly. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14449', 'image' => '20220202123748_NRB psychometric.jpg', 'article_date' => '2022-02-02 12:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14705', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products Again', 'sub_title' => '', 'summary' => 'February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products. The state-owned oil monopoly has increased the price of diesel, petrol and kerosene effective from February 1 midnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised price list, diesel, petrol and kerosene each will cost Rs 3 more to the customers. The price of diesel and kerosene will now cost Rs 125 per liter each while petrol will cost Rs 142 per liter starting from February 2. However, the price of cooking gas (LPG) remains unchanged, the NOC said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC said in a statement that the price of LPG has not been changed despite incurring losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Meanwhile, he NOC has increased the price of aviation turbine fuel (ATF) for domestic flights by Rs 10 per liter to Rs 116 per liter. The price of ATF for international flights has also been increased by USD 100 per kiloliter to USD 1,095. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the NOC had increased the prices of petroleum products on January 19.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC has hiked the prices of petroleum products eight times in the last eight months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first lockdown in March 2020, the price of petrol was Rs 96 per litre.</span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14448', 'image' => '20220202113949_Petrol-Price-Increase.jpg', 'article_date' => '2022-02-02 11:39:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14704', 'article_category_id' => '1', 'title' => 'Government to Accept USD 150 Million Concessional Loan from WB ', 'sub_title' => '', 'summary' => 'February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. </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 government has formed a talks team to proceed ahead the process of acquiring the loan under the ‘Finance for Growth Development Policy Credit’ to Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Communication and Information Technology Gyanendra Bahadur Karki made such announcement on Tuesday while unveiling the decisions taken by the cabinet meeting on January 31.</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 meeting also decided to waive fees for deposit and grant permit to the expedition team of the Nepalese Army. </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"">Other decisions include granting approval in principle to the Ministry of Education, Science and Technology to start the process to establish hospital for teachers. </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 government also decided to declare public holiday across the country on February 2 on the occasion of Sonam Lhosar, informed Minister Karki.</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""> As per the cabinet decision, former chairperson of Nepal Press Union Samir Jung Shah has been appointed the Chairperson of the Nepal Television for a maximum of four-year term. </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"">Prof Dr Shilu Manandhar has been appointed as the vice-chancellor of the Nepal Open University. Joint-Secretary Ramesh Dangal has been promoted as the secretary of the government. Jurisdiction has been determined for the Land Revenue Office and Office of Survey, according to Karki. </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 meeting also fixed the minimum price of unprocessed milk at Rs 56.4 per litre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14447', 'image' => '20220201082005_Logo_of_Nepal_(2020).jpg', 'article_date' => '2022-02-01 20:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14699', 'article_category_id' => '1', 'title' => 'Business Organizations Stand in Defense of Corruption-Accused Industrialists ', 'sub_title' => '', 'summary' => 'February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) issued a joint statement on Monday (January 31), expressing serious concern over the negative impact that it would have on investment promotion, job creation and overall development and expansion of the private sector in Nepal, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They claim that the recent corruption scandal against investors in the cement industry has discouraged the private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Shekhar Golchha, President of CNI Bishnu Kumar Agrawal and President of the NCC Rajendra Malla have jointly signed and issued the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The anti-graft body had filed cases against the operators of nine cement industries as well as officials of the Department of Mines and Geology (DMG) in the last week of January accusing the DGM employees of waiving fines amounting to over Rs 1.2 billion to the cement industries for extracting limestone by breaching the rules. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the government had to incur losses of over Rs 1.2 billion in fine from the cement factories, said a three-member committee formed to investigate the matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed cases against the then superintendent mining engineer of the DMG Jayaraj Ghimire, undersecretary (law department under the DMG) Sapana Adhikari, senior division mechanic engineer Prashanta Bohora, account officer Shree Bhadra Gautam, research officer Basanta Adhikari, geologist Dr Sainik Bhandari and employee Dharma Raj Khadka and deputy attorney Chandra Kumari Pokharel. It has claimed over Rs 1.2 billion from the accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the CIAA has also taken action against nine industries that have been found involved in the case. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has claimed over Rs 163 million from Bishnu Prasad Neupane, owner of Sarbottam Cement; over Rs 494 million from Pashpati Murarka, owner of Siddhartha Minerals Pvt Ltd; over Rs 205 million from Sharad Gogal, owner of Maruti Cement; over Rs 111 million from Rishi Agrawal, owner of Annapurna Quarries; over Rs 17 million from Prabal Jung Pandey, owner of Udayapur Minerals; over Rs 96 million from Naresh Dugad, owner of United Cement; over Rs 69 million from Nipesh Tayal, owner of Sonapur Cement; over Rs 30 million from Bhim Bahadur Thapa Chhetri, owner of Kanchan Quarries and over Rs 54 million from Man Bahadur Shrestha, owner of Dolomite Limestone Industry.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14443', 'image' => '20220201031915_20220127113738_CIAA.jpg', 'article_date' => '2022-02-01 15:18:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14700', 'article_category_id' => '1', 'title' => 'Influence of Westerly Wind Likely to Increase ', 'sub_title' => '', 'summary' => 'February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. ', 'content' => '<p><em>This recent photo shows snowfall in Simikot, Humla. Photo Courtesy: RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology shared that currently the weather in hill areas is partly cloudy while many parts of the Terai are blanketed by dense fog. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to the spell of the Westerly wind, there is likelihood of light rainfall and snowfall on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley has witnessed sunshine due to which the severe cold felt few days ago by to the influence of the Westerly low-pressure system has been decreased to some extent. The minimum temperature of Kathmandu Valley was measured at 4.4 degrees Celsius and the maximum at 17 degrees Celsius over the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has forecast partly to generally cloudy conditions in Province 1, Bagmati Province and Gandaki Province today afternoon (February 1) while the remaining parts will be partially cloudy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely in few places of Province 1, Bagmati Province and Gandaki Province and in a couple of places in Madhesh Province and Lumbini Province today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Province 1, Bagmati Province and Gandaki Province will remain partially to generally cloudy tonight while light rainfall is likely in few places in Province No 1 and Gandaki Province, the Department said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14442', 'image' => '20220201032150_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-01 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14698', 'article_category_id' => '1', 'title' => 'Food Management and Trading Company builds Structure against Set Standard ', 'sub_title' => '', 'summary' => 'February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairperson of KMC-11 Hiralal Tandukar informed that the state-owned company has violated the criteria set by the Council of Ministers while giving the seven ropanis of land of Bhadrakali Plaza in rent and has not even paid the land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company had published a public notice five years ago to provide the company's land on lease. According to Sarmila Neupane Subedi, information officer of the company, among more than 20 bidding companies, an agreement was done with Funland Entertainment Pvt Ltd on June 21, 2017 who agreed to pay Rs 1.51 million per month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the company has rented the land, they have not paid the tax. Nepal Telecom, Rastriya Banijya Bank, Agricultural Development Bank and Insurance Board Nepal at Bhadrakali Plaza have been paying taxes to the ward office. According to the ward office, there are other offices in the area that have not paid the taxes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The chief executive officer of the company, board members and other officials had visited the ward office to seek recommendation for selling its land to the metropolitan police. I asked them to pay the tax first, but they sold the land without paying the tax under pressure from higher authorities," Tandukar said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Council of Ministers had amended the construction standards in the municipalities and urban VDCs within the Kathmandu Valley on November 16, 2008. According to the new standard, while constructing any structure on the river bank, the builder must leave 20/20 meters of land on both sides of Bagmati, Bishnumati and Manohara rivers, and in the case of Rudramati (Dhobikhola) the distance specified by Dhobikhola project should be maintained while the criteria for other rivers is nine meters. <em>(with inputs from RSS)</em></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14441', 'image' => '20220201014844_FMTCL.jpg', 'article_date' => '2022-02-01 13:45:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14697', 'article_category_id' => '1', 'title' => 'NOC Incurs Monthly Loss of Rs 4 Billion', 'sub_title' => '', 'summary' => 'February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present. The NOC said it has had to incur such a great loss due to the increase in prices of petroleum products. The NOC added that its net loss has increased as the loss incurred through the sales of cooking gas (LPG) is excessive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NOC said it is incurring a loss of Rs 2.24 billion just from the sales of LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of NOC, Sushil Bhattarai, informed that the state-owned oil monopoly has to incur maximum losses from the trading of LPG among petrol, diesel, aviation fuel, kerosene and LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NOC claims that it has been suffering from loss despite increasing the prices of petroleum products time and again. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The last time NOC hiked the prices was on January 19. Although the NOC is supposed to revise the price list every fortnight as per the automatic pricing mechanism after the Indian Oil Corporation provides the new list, NOC has failed to comply with the mechanism.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14440', 'image' => '20220201012649_20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2022-02-01 13:26:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14696', 'article_category_id' => '1', 'title' => 'Department of Cooperatives Preparing to Issue Unified Directive', 'sub_title' => '', 'summary' => 'February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department is planning to introduce strict rules for implementing provisions related to distribution of dividends, establishment of service centres, money laundering under the Cooperatives Act and Regulations through a unified directive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the first time that the Department of Cooperatives is preparing to issue a unified directive after the implementation of the Cooperatives Act 2074. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Act has a provision for the registrar to issue directives to the cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have prepared a unified directive with almost 100 new provisions in line with the Cooperatives Act,” said Registrar of the department Jhalakram Adhikari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will take suggestions from all stakeholders and finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department had held discussion regarding the issue with representatives of cooperatives on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a source at the department, they are focused on implementing the Cooperatives Act and Regulations through the directive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The draft of the directive has proposed barring cooperatives with more than 5 percent bad loans from distributing dividends. Such a proposal has been made because distribution of dividends risks the organization when bad debts are high. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, cooperatives will face action if they open service centres without taking permission from the department. The new directive also has provision that requires cooperatives to inform the department about suspicious transactions in order to discourage money laundering.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14439', 'image' => '20220201115425_Cooperative dept.jpg', 'article_date' => '2022-02-01 11:53:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14695', 'article_category_id' => '1', 'title' => 'Interest on Loans to go up as Average Spread Rate of Commercial Banks Falls to 3 Percent ', 'sub_title' => '', 'summary' => 'January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79). </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 spread rate, which was 4.6 percent on average in the second quarter of FY 2077/78, has decreased by 1.6 points during this period.</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"">Nepal Rastra Bank has asked the commercial banks to maintain the spread rate of 4.4 percent through the Unified Directive, 2078 BS. Spread rate is the difference between the interest rate charged by banks on loans and deposits. The spread rate shows the earnings of the banks. The higher the spread rate, the more banks earn.</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 spread rate of Agriculture Development Bank has increased by 0.01 percentage points in the second quarter of the current fiscal year compared to the second quarter of last FY. The bank's spread rate was 4.37 percent in the second quarter of last year while it stood at 4.38 percent in the corresponding period this year.</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"">Bankers have said that the fall in spread rate will have a direct impact on the bank's profit. According to Krishna Bahadur Adhikari, Chief Executive Officer of Nepal Bank, the spread rate has decreased in the second quarter of the current fiscal year due to the rise in interest rates on deposits. </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"">"Decreasing the spread rate has a direct impact on the bank's profits. Although the profit of the banks has increased as compared to the second quarter of last year, it has not increased as per the business expansion,” he said.</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 official said that the interest rate on loans will increase in the coming days as the spread rate has declined in the second quarter of the current fiscal year due to stabilization of interest rates and an increase in interest rates of depositors.</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"">Manoj Gyawali, general manager of Nabil Bank, said that the spread rate has been directly affected as the NRB has tightened the interest rate difference between savings and term deposits by issuing a circular after the banks indulged in unhealthy competition by raising interest rates. The rate of all savings also went up after the NRB issued a circular stating that the difference in interest rates between term deposits and savings should not be more than 5 percentage points. As a result, the base rate has increased and the spread rate has decreased, 'he said.</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 spread rate of 11 commercial banks has been above average in the second quarter of the current fiscal year. Agriculture Development Bank, Rastriya Banijya Bank, NIC Asia Bank, Global IME Bank, Prime Commercial Bank, Nabil Bank, Kumari Bank, Prabhu Bank, Nepal SBI Bank, Citizens Bank, and Civil Bank are among the banks with spread rate above average in the second quarter of the current fiscal year. The spread rate of these banks is more than 3 percent. However, 16 banks have a below-average or 3 percent spread rate.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14438', 'image' => '20220131063946_Banks - Copy.jpg', 'article_date' => '2022-01-31 18:39:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14694', 'article_category_id' => '1', 'title' => 'Local Level Election Expected to Ease Liquidity Crisis ', 'sub_title' => '', 'summary' => 'January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.</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 market, which had declined by 151.36 points last week, has increased by 105.55 points on the first trading day of this week on Sunday. </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"">On Sunday, the Nepse index closed at 2,885.53 points. Investors are excited after the ruling party agreed to hold the local elections in May. </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"">Vice President of Capital Market Reform Struggle Committee Tara Prasad Fullel said that investors are confident that a capable government will be formed through the upcoming local elections. He is of the view that the market will gain momentum this year as well like it did in previous years during the election. </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 says that the market has become positive on Sunday due to the tendency of investors to be active in raising cheap stocks when the market continues to decline. He further said the investors believe that the forthcoming election will bring liquidity into banks and financial institutions. </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 transaction amount has also increased on Sunday as compared to the previous trading day on Thursday. More than Rs 3.34 billion shares were traded on Thursday while on Sunday, shares worth Rs 6.32 billion have been traded. </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"">Api Power had the largest share in the total transaction amounting to Rs 261.516 million. </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 the market rises, the value of the investor's assets also increased by Rs 149.16 billion. Last Thursday, the total market capitalization stood at Rs 3.92 trillion which increased to Rs 4.077 trillion on Sunday. </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"">All group indicators have increased on Sunday. Investors of development banks and investment groups have earned the most on Sunday. The development banks’ group index increased at 6.56 percent and the investment group index increased at 6.35 percent. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14437', 'image' => '20220131021159_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2022-01-31 14:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14693', 'article_category_id' => '1', 'title' => 'FDI's Contribution to GDP less than 1 Percent', 'sub_title' => '', 'summary' => 'January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A recent study report released by the Policy Research Institute states that the contribution of foreign direct investment to the GDP is 0.54 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the SAARC countries, the Maldives tops the list of beneficiaries to be benefit from FDI in GDP. Foreign direct investment accounts for 17.5 percent of the GDP in the Maldives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is second on the list, with 1.76 percent share of foreign investment to its GDP. Similarly, FDI contributes 0.80 percent to Pakistan's GDP, 0.63 percent to Bangladesh and 0.54 percent to Nepal's GDP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has the largest share of foreign investment in Nepal. It has made an investment of Rs 56 billion and holds 31 percent share of foreign investment in the country. China is the second largest investor with an investment of Rs 27.56 billion and Saint Kitts and Nevis, a Caribbean country, is the third largest investor with Rs 24.94 billion investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has received FDI worth Rs 11.93 billion from Ireland, Rs 8.72 billion from Singapore, Rs 7.63 billion from Australia, Rs 6.85 billion from the UAE, Rs 5.11 billion from Bangladesh, Rs 4.47 billion from South Korea and Rs 4.47 billion from the United States. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal has received Rs 182 billion in foreign investment until July 2019. Of Rs 196 billion FDI received in 2019/20, Rs 16.07 billion has been in the field of hydropower and irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study shows that about 82 percent of the foreign investment received is directed towards energy, gas and irrigation projects. Likewise, seven percent investment has been made in the transport storage and communication sector and 11 percent in the rest. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati Province has received 65.5 per cent FDI, Gandaki and Madhes have received 14 per cent each and the rest ten per cent has been received by Lumbini, Karnali and Far-Western provinces.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14436', 'image' => '20220131015956_20210115025352_20160222122813_ep3.jpg', 'article_date' => '2022-01-31 13:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14692', 'article_category_id' => '1', 'title' => 'Cooperative Stabilization Fund Courts Controversy before Official Launch', 'sub_title' => '', 'summary' => 'January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite initiating the process to launch the fund in accordance to the Cooperative Act related regulations, the concerned authorities have not been able to operate the fund due to dispute over the issues of operation modality and ownership.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The law has provision to include all the cooperatives that are involved in credit and savings business. Nepal Savings and Credit Central Association </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, some cooperatives have alleged that the Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN), the umbrella body of cooperatives in Nepal, is trying to operate the fund single-handedly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This has cast doubt over the operation of the fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Cooperatives Regulation has a provision for the chairman of NEFSCUN to lead the fund while the CEO of the federation will have the post of member secretary of the fund. Taking advantage of this provision, NEFSCUN started operating the fund by recruiting its members in the fund. The decision came under criticism from other cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Land Management, Cooperatives and Poverty Alleviation had formed a work procedure to operate the fund two years ago. NEFSCUN then organized a meeting of cooperatives in January-February 2020 and initiated the process to register the fund at the Department of Investment. However, both the department and the ministry denied such permission after protest from the cooperative sector. NEFSCUN, however, has been pressing for the operation of the fund without registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the work procedure, cooperatives that have completed five years of operation and those that have been undergoing annual audit can be affiliated to the fund. The fund can be operated only after the deposit amount reaches Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the fund has collected Rs 700 million from 181 affiliated members.</span></span></p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14435', 'image' => '20220131122215_ssss.jpg', 'article_date' => '2022-01-31 12:21:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14691', 'article_category_id' => '1', 'title' => 'Farmers Demand Hike in Milk Price ', 'sub_title' => '', 'summary' => 'January 31: Farmers of Chitwan have demanded an immediate hike in price of milk and milk products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Chitwan have demanded an immediate hike in price of milk and milk products. They have also warned of launching struggle if the unit price of milk is not increased at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference in Chitwan on Sunday, Chitwan Milk Producers Cooperative Association Limited warned that they would mount pressure on the concerned authorities to increase the unit price of milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They have demanded an increment of Rs 15-20 per liter of milk. It has been learnt that the government is making preparation to increase the price of milk by Rs 10 per liter and provide Rs 7 to the farmers and Rs 3 to the dairy industry. </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"">Chairman of the association Rudramani Neupane said this scheme would not be enough to maintain the unit cost of the farmers in producing milk. </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"">“With hefty rise in the price of feeds and veterinary medicines, the unit production cost of a liter of milk has reached Rs 63. Therefore, the unit price should be hiked in a way to maintain the production cost,” he said. </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"">Chairman Neupane added that they are preparing to launch agitation since the price of milk price not been increased as pledged before. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14434', 'image' => '20220131114329_20160707123024_milk.jpg', 'article_date' => '2022-01-31 11:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14690', 'article_category_id' => '1', 'title' => 'Finance Minister Admits Lack of Development-Friendly Policies, Structures ', 'sub_title' => '', 'summary' => 'January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. He made such remark during a meeting with the economic experts on Sunday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Inadequacy of appropriate policy and necessary structures has hindered development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. “It has direct bearing on the national economy.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Minister further said politics is the centre of several problems, so consensus among political parties is imperative. It is necessary to frame appropriate economic policy, he further stressed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, the experts said although the national economy was not pushed to the brink, certain measures should be adopted to avert the worsening situation. The restriction on import should be continued till the balance of payments (BoP) is normalized for foreign currency reserve. They suggested to the minister that the capital expenditure must be increased, agricultural products need a boost and debt in unproductive sectors discouraged to make the economy dynamic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The discussion was attended by former vice-chairperson of the National Planning Commission Dr Shankar Sharma and Dr Min Bahadur Shrestha, Prof Dr Bishwambher Pyakurel, former ambassador to India, Dr Durgeshman Singh, political and economic analyst Hari Roka and Dr Ram Kumar Phunyal. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-30', 'modified' => '2022-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '14433', 'image' => '20220130083311_fin min sharma.jpg', 'article_date' => '2022-01-30 20:32:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '14707', 'article_category_id' => '1', 'title' => 'Election Commission Estimates Rs 12 Billion Expenditure for Local Polls ', 'sub_title' => '', 'summary' => 'February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May, 2022. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Officials of the commission have estimated that the amount would be spent on holding elections in one phase in all 753 local units. According to the commissioners, a lot of budget will be spent on salary, daily allowance, travel expenses and other facilities of the manpower to be deployed for the election. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In 2074 BS, more than Rs 8 billion was spent for the election held in three phases. About 2 million voters have been added since the 2074 election. Now, expenditure for polling stations and booths, ballot papers, and polling materials etc will be added accordingly in the budget. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The commission also claimed that the expenditure would also increase as the use of information technology at polling stations should be increased to ensure cleanliness and fairness during election and to control unwanted activities at polling stations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The election commissioners had also informed Prime Minister Sher during a meeting held on Tuesday that additional expenses would be incurred for health safety standards due to Covid-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">After the discussion, it has been agreed to hold the local level election in a single phase on May 18, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Election Commission spokesperson Shaligram Poudel said that Prime Minister Sher Bahadur Deuba has promised to complete the necessary process and move ahead with the preparations for holding the election on the scheduled date. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, the commission had suggested the government to hold local level elections in one phase on April 27 and in two phases on April 27 and May 5. However, due to differences within the ruling coalition, the government was unable to set a date for local elections. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A meeting of the ruling coalition held last Saturday had agreed to hold local elections in May by amending the law. But PM Dueba called the commissioners for discussion after agreeing to hold local elections within the deadline without amending the law. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tenure of people's representatives at the local level is expiring on May 19. It seems that the date of the election has been fixed as per the legal obligation to hold the local level election before the deadline. </span></span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14450', 'image' => '20220202020622_politics.jpg', 'article_date' => '2022-02-02 14:05:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14706', 'article_category_id' => '1', 'title' => 'NRB signs MoU on Piloting Psychometric Scoring Solution with IFC ', 'sub_title' => '', 'summary' => 'February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><em>MoU signing ceremony on Tuesday. Photo Courtesy: NRB</em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The psychometric scoring system is expected to innovatively present loan flow to the fiscal system compatible with technology and would help make the system further tech-savvy and promote simple and risk-free credit flow, NRB said in a statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the Department of Microfinance Institutions Supervision of the central bank, Suman Prasad Adhikari, and IFC’s Resident Representative for Nepal Babacar Sedikh Faye signed the MoU on behalf of their respective organisations on Tuesday (February 1). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tool is also expected to help banks and financial institutions to develop credit risk profile based on data analysis of the credit character and psychological being of potential borrower and encourage service recipients to mainstream in formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the tool is to be tested in the financial system of Nepal for two years in collaboration with the Government of Japan and the United Kingdom. This will also help bring the people receiving micro and small loan and micro, small and medium enterprises to the ambit of formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the signing ceremony, NRB Governor Maha Prasad Adhikari thanked the IFC Resident Representative for providing NRB an opportunity for the new collaboration and said that the new MoU would make the microcredit management technology-friendly. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14449', 'image' => '20220202123748_NRB psychometric.jpg', 'article_date' => '2022-02-02 12:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14705', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products Again', 'sub_title' => '', 'summary' => 'February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products. The state-owned oil monopoly has increased the price of diesel, petrol and kerosene effective from February 1 midnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised price list, diesel, petrol and kerosene each will cost Rs 3 more to the customers. The price of diesel and kerosene will now cost Rs 125 per liter each while petrol will cost Rs 142 per liter starting from February 2. However, the price of cooking gas (LPG) remains unchanged, the NOC said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC said in a statement that the price of LPG has not been changed despite incurring losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Meanwhile, he NOC has increased the price of aviation turbine fuel (ATF) for domestic flights by Rs 10 per liter to Rs 116 per liter. The price of ATF for international flights has also been increased by USD 100 per kiloliter to USD 1,095. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the NOC had increased the prices of petroleum products on January 19.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC has hiked the prices of petroleum products eight times in the last eight months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first lockdown in March 2020, the price of petrol was Rs 96 per litre.</span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14448', 'image' => '20220202113949_Petrol-Price-Increase.jpg', 'article_date' => '2022-02-02 11:39:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14704', 'article_category_id' => '1', 'title' => 'Government to Accept USD 150 Million Concessional Loan from WB ', 'sub_title' => '', 'summary' => 'February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. </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 government has formed a talks team to proceed ahead the process of acquiring the loan under the ‘Finance for Growth Development Policy Credit’ to Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Communication and Information Technology Gyanendra Bahadur Karki made such announcement on Tuesday while unveiling the decisions taken by the cabinet meeting on January 31.</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 meeting also decided to waive fees for deposit and grant permit to the expedition team of the Nepalese Army. </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"">Other decisions include granting approval in principle to the Ministry of Education, Science and Technology to start the process to establish hospital for teachers. </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 government also decided to declare public holiday across the country on February 2 on the occasion of Sonam Lhosar, informed Minister Karki.</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""> As per the cabinet decision, former chairperson of Nepal Press Union Samir Jung Shah has been appointed the Chairperson of the Nepal Television for a maximum of four-year term. </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"">Prof Dr Shilu Manandhar has been appointed as the vice-chancellor of the Nepal Open University. Joint-Secretary Ramesh Dangal has been promoted as the secretary of the government. Jurisdiction has been determined for the Land Revenue Office and Office of Survey, according to Karki. </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 meeting also fixed the minimum price of unprocessed milk at Rs 56.4 per litre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14447', 'image' => '20220201082005_Logo_of_Nepal_(2020).jpg', 'article_date' => '2022-02-01 20:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14699', 'article_category_id' => '1', 'title' => 'Business Organizations Stand in Defense of Corruption-Accused Industrialists ', 'sub_title' => '', 'summary' => 'February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) issued a joint statement on Monday (January 31), expressing serious concern over the negative impact that it would have on investment promotion, job creation and overall development and expansion of the private sector in Nepal, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They claim that the recent corruption scandal against investors in the cement industry has discouraged the private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Shekhar Golchha, President of CNI Bishnu Kumar Agrawal and President of the NCC Rajendra Malla have jointly signed and issued the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The anti-graft body had filed cases against the operators of nine cement industries as well as officials of the Department of Mines and Geology (DMG) in the last week of January accusing the DGM employees of waiving fines amounting to over Rs 1.2 billion to the cement industries for extracting limestone by breaching the rules. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the government had to incur losses of over Rs 1.2 billion in fine from the cement factories, said a three-member committee formed to investigate the matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed cases against the then superintendent mining engineer of the DMG Jayaraj Ghimire, undersecretary (law department under the DMG) Sapana Adhikari, senior division mechanic engineer Prashanta Bohora, account officer Shree Bhadra Gautam, research officer Basanta Adhikari, geologist Dr Sainik Bhandari and employee Dharma Raj Khadka and deputy attorney Chandra Kumari Pokharel. It has claimed over Rs 1.2 billion from the accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the CIAA has also taken action against nine industries that have been found involved in the case. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has claimed over Rs 163 million from Bishnu Prasad Neupane, owner of Sarbottam Cement; over Rs 494 million from Pashpati Murarka, owner of Siddhartha Minerals Pvt Ltd; over Rs 205 million from Sharad Gogal, owner of Maruti Cement; over Rs 111 million from Rishi Agrawal, owner of Annapurna Quarries; over Rs 17 million from Prabal Jung Pandey, owner of Udayapur Minerals; over Rs 96 million from Naresh Dugad, owner of United Cement; over Rs 69 million from Nipesh Tayal, owner of Sonapur Cement; over Rs 30 million from Bhim Bahadur Thapa Chhetri, owner of Kanchan Quarries and over Rs 54 million from Man Bahadur Shrestha, owner of Dolomite Limestone Industry.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14443', 'image' => '20220201031915_20220127113738_CIAA.jpg', 'article_date' => '2022-02-01 15:18:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14700', 'article_category_id' => '1', 'title' => 'Influence of Westerly Wind Likely to Increase ', 'sub_title' => '', 'summary' => 'February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. ', 'content' => '<p><em>This recent photo shows snowfall in Simikot, Humla. Photo Courtesy: RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology shared that currently the weather in hill areas is partly cloudy while many parts of the Terai are blanketed by dense fog. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to the spell of the Westerly wind, there is likelihood of light rainfall and snowfall on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley has witnessed sunshine due to which the severe cold felt few days ago by to the influence of the Westerly low-pressure system has been decreased to some extent. The minimum temperature of Kathmandu Valley was measured at 4.4 degrees Celsius and the maximum at 17 degrees Celsius over the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has forecast partly to generally cloudy conditions in Province 1, Bagmati Province and Gandaki Province today afternoon (February 1) while the remaining parts will be partially cloudy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely in few places of Province 1, Bagmati Province and Gandaki Province and in a couple of places in Madhesh Province and Lumbini Province today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Province 1, Bagmati Province and Gandaki Province will remain partially to generally cloudy tonight while light rainfall is likely in few places in Province No 1 and Gandaki Province, the Department said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14442', 'image' => '20220201032150_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-01 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14698', 'article_category_id' => '1', 'title' => 'Food Management and Trading Company builds Structure against Set Standard ', 'sub_title' => '', 'summary' => 'February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairperson of KMC-11 Hiralal Tandukar informed that the state-owned company has violated the criteria set by the Council of Ministers while giving the seven ropanis of land of Bhadrakali Plaza in rent and has not even paid the land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company had published a public notice five years ago to provide the company's land on lease. According to Sarmila Neupane Subedi, information officer of the company, among more than 20 bidding companies, an agreement was done with Funland Entertainment Pvt Ltd on June 21, 2017 who agreed to pay Rs 1.51 million per month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the company has rented the land, they have not paid the tax. Nepal Telecom, Rastriya Banijya Bank, Agricultural Development Bank and Insurance Board Nepal at Bhadrakali Plaza have been paying taxes to the ward office. According to the ward office, there are other offices in the area that have not paid the taxes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The chief executive officer of the company, board members and other officials had visited the ward office to seek recommendation for selling its land to the metropolitan police. I asked them to pay the tax first, but they sold the land without paying the tax under pressure from higher authorities," Tandukar said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Council of Ministers had amended the construction standards in the municipalities and urban VDCs within the Kathmandu Valley on November 16, 2008. According to the new standard, while constructing any structure on the river bank, the builder must leave 20/20 meters of land on both sides of Bagmati, Bishnumati and Manohara rivers, and in the case of Rudramati (Dhobikhola) the distance specified by Dhobikhola project should be maintained while the criteria for other rivers is nine meters. <em>(with inputs from RSS)</em></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14441', 'image' => '20220201014844_FMTCL.jpg', 'article_date' => '2022-02-01 13:45:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14697', 'article_category_id' => '1', 'title' => 'NOC Incurs Monthly Loss of Rs 4 Billion', 'sub_title' => '', 'summary' => 'February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present. The NOC said it has had to incur such a great loss due to the increase in prices of petroleum products. The NOC added that its net loss has increased as the loss incurred through the sales of cooking gas (LPG) is excessive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NOC said it is incurring a loss of Rs 2.24 billion just from the sales of LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of NOC, Sushil Bhattarai, informed that the state-owned oil monopoly has to incur maximum losses from the trading of LPG among petrol, diesel, aviation fuel, kerosene and LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NOC claims that it has been suffering from loss despite increasing the prices of petroleum products time and again. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The last time NOC hiked the prices was on January 19. Although the NOC is supposed to revise the price list every fortnight as per the automatic pricing mechanism after the Indian Oil Corporation provides the new list, NOC has failed to comply with the mechanism.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14440', 'image' => '20220201012649_20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2022-02-01 13:26:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14696', 'article_category_id' => '1', 'title' => 'Department of Cooperatives Preparing to Issue Unified Directive', 'sub_title' => '', 'summary' => 'February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department is planning to introduce strict rules for implementing provisions related to distribution of dividends, establishment of service centres, money laundering under the Cooperatives Act and Regulations through a unified directive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the first time that the Department of Cooperatives is preparing to issue a unified directive after the implementation of the Cooperatives Act 2074. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Act has a provision for the registrar to issue directives to the cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have prepared a unified directive with almost 100 new provisions in line with the Cooperatives Act,” said Registrar of the department Jhalakram Adhikari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will take suggestions from all stakeholders and finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department had held discussion regarding the issue with representatives of cooperatives on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a source at the department, they are focused on implementing the Cooperatives Act and Regulations through the directive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The draft of the directive has proposed barring cooperatives with more than 5 percent bad loans from distributing dividends. Such a proposal has been made because distribution of dividends risks the organization when bad debts are high. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, cooperatives will face action if they open service centres without taking permission from the department. The new directive also has provision that requires cooperatives to inform the department about suspicious transactions in order to discourage money laundering.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14439', 'image' => '20220201115425_Cooperative dept.jpg', 'article_date' => '2022-02-01 11:53:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14695', 'article_category_id' => '1', 'title' => 'Interest on Loans to go up as Average Spread Rate of Commercial Banks Falls to 3 Percent ', 'sub_title' => '', 'summary' => 'January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79). </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 spread rate, which was 4.6 percent on average in the second quarter of FY 2077/78, has decreased by 1.6 points during this period.</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"">Nepal Rastra Bank has asked the commercial banks to maintain the spread rate of 4.4 percent through the Unified Directive, 2078 BS. Spread rate is the difference between the interest rate charged by banks on loans and deposits. The spread rate shows the earnings of the banks. The higher the spread rate, the more banks earn.</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 spread rate of Agriculture Development Bank has increased by 0.01 percentage points in the second quarter of the current fiscal year compared to the second quarter of last FY. The bank's spread rate was 4.37 percent in the second quarter of last year while it stood at 4.38 percent in the corresponding period this year.</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"">Bankers have said that the fall in spread rate will have a direct impact on the bank's profit. According to Krishna Bahadur Adhikari, Chief Executive Officer of Nepal Bank, the spread rate has decreased in the second quarter of the current fiscal year due to the rise in interest rates on deposits. </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"">"Decreasing the spread rate has a direct impact on the bank's profits. Although the profit of the banks has increased as compared to the second quarter of last year, it has not increased as per the business expansion,” he said.</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 official said that the interest rate on loans will increase in the coming days as the spread rate has declined in the second quarter of the current fiscal year due to stabilization of interest rates and an increase in interest rates of depositors.</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"">Manoj Gyawali, general manager of Nabil Bank, said that the spread rate has been directly affected as the NRB has tightened the interest rate difference between savings and term deposits by issuing a circular after the banks indulged in unhealthy competition by raising interest rates. The rate of all savings also went up after the NRB issued a circular stating that the difference in interest rates between term deposits and savings should not be more than 5 percentage points. As a result, the base rate has increased and the spread rate has decreased, 'he said.</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 spread rate of 11 commercial banks has been above average in the second quarter of the current fiscal year. Agriculture Development Bank, Rastriya Banijya Bank, NIC Asia Bank, Global IME Bank, Prime Commercial Bank, Nabil Bank, Kumari Bank, Prabhu Bank, Nepal SBI Bank, Citizens Bank, and Civil Bank are among the banks with spread rate above average in the second quarter of the current fiscal year. The spread rate of these banks is more than 3 percent. However, 16 banks have a below-average or 3 percent spread rate.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14438', 'image' => '20220131063946_Banks - Copy.jpg', 'article_date' => '2022-01-31 18:39:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14694', 'article_category_id' => '1', 'title' => 'Local Level Election Expected to Ease Liquidity Crisis ', 'sub_title' => '', 'summary' => 'January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.</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 market, which had declined by 151.36 points last week, has increased by 105.55 points on the first trading day of this week on Sunday. </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"">On Sunday, the Nepse index closed at 2,885.53 points. Investors are excited after the ruling party agreed to hold the local elections in May. </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"">Vice President of Capital Market Reform Struggle Committee Tara Prasad Fullel said that investors are confident that a capable government will be formed through the upcoming local elections. He is of the view that the market will gain momentum this year as well like it did in previous years during the election. </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 says that the market has become positive on Sunday due to the tendency of investors to be active in raising cheap stocks when the market continues to decline. He further said the investors believe that the forthcoming election will bring liquidity into banks and financial institutions. </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 transaction amount has also increased on Sunday as compared to the previous trading day on Thursday. More than Rs 3.34 billion shares were traded on Thursday while on Sunday, shares worth Rs 6.32 billion have been traded. </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"">Api Power had the largest share in the total transaction amounting to Rs 261.516 million. </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 the market rises, the value of the investor's assets also increased by Rs 149.16 billion. Last Thursday, the total market capitalization stood at Rs 3.92 trillion which increased to Rs 4.077 trillion on Sunday. </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"">All group indicators have increased on Sunday. Investors of development banks and investment groups have earned the most on Sunday. The development banks’ group index increased at 6.56 percent and the investment group index increased at 6.35 percent. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14437', 'image' => '20220131021159_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2022-01-31 14:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14693', 'article_category_id' => '1', 'title' => 'FDI's Contribution to GDP less than 1 Percent', 'sub_title' => '', 'summary' => 'January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A recent study report released by the Policy Research Institute states that the contribution of foreign direct investment to the GDP is 0.54 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the SAARC countries, the Maldives tops the list of beneficiaries to be benefit from FDI in GDP. Foreign direct investment accounts for 17.5 percent of the GDP in the Maldives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is second on the list, with 1.76 percent share of foreign investment to its GDP. Similarly, FDI contributes 0.80 percent to Pakistan's GDP, 0.63 percent to Bangladesh and 0.54 percent to Nepal's GDP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has the largest share of foreign investment in Nepal. It has made an investment of Rs 56 billion and holds 31 percent share of foreign investment in the country. China is the second largest investor with an investment of Rs 27.56 billion and Saint Kitts and Nevis, a Caribbean country, is the third largest investor with Rs 24.94 billion investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has received FDI worth Rs 11.93 billion from Ireland, Rs 8.72 billion from Singapore, Rs 7.63 billion from Australia, Rs 6.85 billion from the UAE, Rs 5.11 billion from Bangladesh, Rs 4.47 billion from South Korea and Rs 4.47 billion from the United States. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal has received Rs 182 billion in foreign investment until July 2019. Of Rs 196 billion FDI received in 2019/20, Rs 16.07 billion has been in the field of hydropower and irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study shows that about 82 percent of the foreign investment received is directed towards energy, gas and irrigation projects. Likewise, seven percent investment has been made in the transport storage and communication sector and 11 percent in the rest. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati Province has received 65.5 per cent FDI, Gandaki and Madhes have received 14 per cent each and the rest ten per cent has been received by Lumbini, Karnali and Far-Western provinces.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14436', 'image' => '20220131015956_20210115025352_20160222122813_ep3.jpg', 'article_date' => '2022-01-31 13:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14692', 'article_category_id' => '1', 'title' => 'Cooperative Stabilization Fund Courts Controversy before Official Launch', 'sub_title' => '', 'summary' => 'January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite initiating the process to launch the fund in accordance to the Cooperative Act related regulations, the concerned authorities have not been able to operate the fund due to dispute over the issues of operation modality and ownership.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The law has provision to include all the cooperatives that are involved in credit and savings business. Nepal Savings and Credit Central Association </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, some cooperatives have alleged that the Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN), the umbrella body of cooperatives in Nepal, is trying to operate the fund single-handedly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This has cast doubt over the operation of the fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Cooperatives Regulation has a provision for the chairman of NEFSCUN to lead the fund while the CEO of the federation will have the post of member secretary of the fund. Taking advantage of this provision, NEFSCUN started operating the fund by recruiting its members in the fund. The decision came under criticism from other cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Land Management, Cooperatives and Poverty Alleviation had formed a work procedure to operate the fund two years ago. NEFSCUN then organized a meeting of cooperatives in January-February 2020 and initiated the process to register the fund at the Department of Investment. However, both the department and the ministry denied such permission after protest from the cooperative sector. NEFSCUN, however, has been pressing for the operation of the fund without registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the work procedure, cooperatives that have completed five years of operation and those that have been undergoing annual audit can be affiliated to the fund. The fund can be operated only after the deposit amount reaches Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the fund has collected Rs 700 million from 181 affiliated members.</span></span></p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14435', 'image' => '20220131122215_ssss.jpg', 'article_date' => '2022-01-31 12:21:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14691', 'article_category_id' => '1', 'title' => 'Farmers Demand Hike in Milk Price ', 'sub_title' => '', 'summary' => 'January 31: Farmers of Chitwan have demanded an immediate hike in price of milk and milk products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Chitwan have demanded an immediate hike in price of milk and milk products. They have also warned of launching struggle if the unit price of milk is not increased at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference in Chitwan on Sunday, Chitwan Milk Producers Cooperative Association Limited warned that they would mount pressure on the concerned authorities to increase the unit price of milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They have demanded an increment of Rs 15-20 per liter of milk. It has been learnt that the government is making preparation to increase the price of milk by Rs 10 per liter and provide Rs 7 to the farmers and Rs 3 to the dairy industry. </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"">Chairman of the association Rudramani Neupane said this scheme would not be enough to maintain the unit cost of the farmers in producing milk. </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"">“With hefty rise in the price of feeds and veterinary medicines, the unit production cost of a liter of milk has reached Rs 63. Therefore, the unit price should be hiked in a way to maintain the production cost,” he said. </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"">Chairman Neupane added that they are preparing to launch agitation since the price of milk price not been increased as pledged before. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14434', 'image' => '20220131114329_20160707123024_milk.jpg', 'article_date' => '2022-01-31 11:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14690', 'article_category_id' => '1', 'title' => 'Finance Minister Admits Lack of Development-Friendly Policies, Structures ', 'sub_title' => '', 'summary' => 'January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. He made such remark during a meeting with the economic experts on Sunday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Inadequacy of appropriate policy and necessary structures has hindered development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. “It has direct bearing on the national economy.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Minister further said politics is the centre of several problems, so consensus among political parties is imperative. It is necessary to frame appropriate economic policy, he further stressed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, the experts said although the national economy was not pushed to the brink, certain measures should be adopted to avert the worsening situation. The restriction on import should be continued till the balance of payments (BoP) is normalized for foreign currency reserve. They suggested to the minister that the capital expenditure must be increased, agricultural products need a boost and debt in unproductive sectors discouraged to make the economy dynamic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The discussion was attended by former vice-chairperson of the National Planning Commission Dr Shankar Sharma and Dr Min Bahadur Shrestha, Prof Dr Bishwambher Pyakurel, former ambassador to India, Dr Durgeshman Singh, political and economic analyst Hari Roka and Dr Ram Kumar Phunyal. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-30', 'modified' => '2022-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '14433', 'image' => '20220130083311_fin min sharma.jpg', 'article_date' => '2022-01-30 20:32:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">February 2: The Election Commission has estimated that Rs 12 billion will be required for the local level election that is going to be held in May, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Officials of the commission have estimated that the amount would be spent on holding elections in one phase in all 753 local units. According to the commissioners, a lot of budget will be spent on salary, daily allowance, travel expenses and other facilities of the manpower to be deployed for the election. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">In 2074 BS, more than Rs 8 billion was spent for the election held in three phases. About 2 million voters have been added since the 2074 election. Now, expenditure for polling stations and booths, ballot papers, and polling materials etc will be added accordingly in the budget. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The commission also claimed that the expenditure would also increase as the use of information technology at polling stations should be increased to ensure cleanliness and fairness during election and to control unwanted activities at polling stations. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The election commissioners had also informed Prime Minister Sher during a meeting held on Tuesday that additional expenses would be incurred for health safety standards due to Covid-19. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">After the discussion, it has been agreed to hold the local level election in a single phase on May 18, 2022. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Election Commission spokesperson Shaligram Poudel said that Prime Minister Sher Bahadur Deuba has promised to complete the necessary process and move ahead with the preparations for holding the election on the scheduled date. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Earlier, the commission had suggested the government to hold local level elections in one phase on April 27 and in two phases on April 27 and May 5. However, due to differences within the ruling coalition, the government was unable to set a date for local elections. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A meeting of the ruling coalition held last Saturday had agreed to hold local elections in May by amending the law. But PM Dueba called the commissioners for discussion after agreeing to hold local elections within the deadline without amending the law. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The tenure of people's representatives at the local level is expiring on May 19. It seems that the date of the election has been fixed as per the legal obligation to hold the local level election before the deadline. </span></span></span></span></p> <p> </p> <p><br /> <br /> <br /> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14450', 'image' => '20220202020622_politics.jpg', 'article_date' => '2022-02-02 14:05:38', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '14706', 'article_category_id' => '1', 'title' => 'NRB signs MoU on Piloting Psychometric Scoring Solution with IFC ', 'sub_title' => '', 'summary' => 'February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). ', 'content' => '<p><span style="font-size:16px"><span style="font-family:Calibri,"sans-serif""><em>MoU signing ceremony on Tuesday. Photo Courtesy: NRB</em></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Rastra Bank (NRB) has signed a memorandum of understanding (MoU) with the International Finance Corporation (IFC) on piloting psychometric scoring solution – a tool to assess potential borrowers on the basis of individual financial capital, collateral, capacity, conditions (terms of the loan) and character (personal credibility). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The psychometric scoring system is expected to innovatively present loan flow to the fiscal system compatible with technology and would help make the system further tech-savvy and promote simple and risk-free credit flow, NRB said in a statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Executive Director of the Department of Microfinance Institutions Supervision of the central bank, Suman Prasad Adhikari, and IFC’s Resident Representative for Nepal Babacar Sedikh Faye signed the MoU on behalf of their respective organisations on Tuesday (February 1). </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The tool is also expected to help banks and financial institutions to develop credit risk profile based on data analysis of the credit character and psychological being of potential borrower and encourage service recipients to mainstream in formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the NRB, the tool is to be tested in the financial system of Nepal for two years in collaboration with the Government of Japan and the United Kingdom. This will also help bring the people receiving micro and small loan and micro, small and medium enterprises to the ambit of formal financial services. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the signing ceremony, NRB Governor Maha Prasad Adhikari thanked the IFC Resident Representative for providing NRB an opportunity for the new collaboration and said that the new MoU would make the microcredit management technology-friendly. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14449', 'image' => '20220202123748_NRB psychometric.jpg', 'article_date' => '2022-02-02 12:36:48', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '14705', 'article_category_id' => '1', 'title' => 'NOC Hikes Price of Petroleum Products Again', 'sub_title' => '', 'summary' => 'February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 2: Nepal Oil Corporation (NOC) has once again increased the prices of petroleum products. The state-owned oil monopoly has increased the price of diesel, petrol and kerosene effective from February 1 midnight.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the revised price list, diesel, petrol and kerosene each will cost Rs 3 more to the customers. The price of diesel and kerosene will now cost Rs 125 per liter each while petrol will cost Rs 142 per liter starting from February 2. However, the price of cooking gas (LPG) remains unchanged, the NOC said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC said in a statement that the price of LPG has not been changed despite incurring losses. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""> Meanwhile, he NOC has increased the price of aviation turbine fuel (ATF) for domestic flights by Rs 10 per liter to Rs 116 per liter. The price of ATF for international flights has also been increased by USD 100 per kiloliter to USD 1,095. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Prior to this, the NOC had increased the prices of petroleum products on January 19.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The NOC has hiked the prices of petroleum products eight times in the last eight months.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">During the first lockdown in March 2020, the price of petrol was Rs 96 per litre.</span></span></p> ', 'published' => true, 'created' => '2022-02-02', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14448', 'image' => '20220202113949_Petrol-Price-Increase.jpg', 'article_date' => '2022-02-02 11:39:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '14704', 'article_category_id' => '1', 'title' => 'Government to Accept USD 150 Million Concessional Loan from WB ', 'sub_title' => '', 'summary' => 'February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The government has decided to accept a concessional loan of US$ 150 million from the World Bank. </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 government has formed a talks team to proceed ahead the process of acquiring the loan under the ‘Finance for Growth Development Policy Credit’ to Nepal. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Minister for Communication and Information Technology Gyanendra Bahadur Karki made such announcement on Tuesday while unveiling the decisions taken by the cabinet meeting on January 31.</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 meeting also decided to waive fees for deposit and grant permit to the expedition team of the Nepalese Army. </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"">Other decisions include granting approval in principle to the Ministry of Education, Science and Technology to start the process to establish hospital for teachers. </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 government also decided to declare public holiday across the country on February 2 on the occasion of Sonam Lhosar, informed Minister Karki.</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""> As per the cabinet decision, former chairperson of Nepal Press Union Samir Jung Shah has been appointed the Chairperson of the Nepal Television for a maximum of four-year term. </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"">Prof Dr Shilu Manandhar has been appointed as the vice-chancellor of the Nepal Open University. Joint-Secretary Ramesh Dangal has been promoted as the secretary of the government. Jurisdiction has been determined for the Land Revenue Office and Office of Survey, according to Karki. </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 meeting also fixed the minimum price of unprocessed milk at Rs 56.4 per litre. -- RSS </span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14447', 'image' => '20220201082005_Logo_of_Nepal_(2020).jpg', 'article_date' => '2022-02-01 20:19:22', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '14699', 'article_category_id' => '1', 'title' => 'Business Organizations Stand in Defense of Corruption-Accused Industrialists ', 'sub_title' => '', 'summary' => 'February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: Three associations of business enterprises and industrialists have issued a joint statement expressing concerned over a case filed in the special court by the Commission for Investigation of Abuse of Authority (CIAA) against industrialists for using more mines than the prescribed capacity. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Federation of Nepalese Chambers of Commerce and Industry (FNCCI), the Confederation of Nepalese Industries (CNI) and the Nepal Chamber of Commerce (NCC) issued a joint statement on Monday (January 31), expressing serious concern over the negative impact that it would have on investment promotion, job creation and overall development and expansion of the private sector in Nepal, the state-owned RSS reported. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">They claim that the recent corruption scandal against investors in the cement industry has discouraged the private sector. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">FNCCI President Shekhar Golchha, President of CNI Bishnu Kumar Agrawal and President of the NCC Rajendra Malla have jointly signed and issued the statement. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The anti-graft body had filed cases against the operators of nine cement industries as well as officials of the Department of Mines and Geology (DMG) in the last week of January accusing the DGM employees of waiving fines amounting to over Rs 1.2 billion to the cement industries for extracting limestone by breaching the rules. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As a result, the government had to incur losses of over Rs 1.2 billion in fine from the cement factories, said a three-member committee formed to investigate the matter.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The CIAA has filed cases against the then superintendent mining engineer of the DMG Jayaraj Ghimire, undersecretary (law department under the DMG) Sapana Adhikari, senior division mechanic engineer Prashanta Bohora, account officer Shree Bhadra Gautam, research officer Basanta Adhikari, geologist Dr Sainik Bhandari and employee Dharma Raj Khadka and deputy attorney Chandra Kumari Pokharel. It has claimed over Rs 1.2 billion from the accused. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, the CIAA has also taken action against nine industries that have been found involved in the case. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It has claimed over Rs 163 million from Bishnu Prasad Neupane, owner of Sarbottam Cement; over Rs 494 million from Pashpati Murarka, owner of Siddhartha Minerals Pvt Ltd; over Rs 205 million from Sharad Gogal, owner of Maruti Cement; over Rs 111 million from Rishi Agrawal, owner of Annapurna Quarries; over Rs 17 million from Prabal Jung Pandey, owner of Udayapur Minerals; over Rs 96 million from Naresh Dugad, owner of United Cement; over Rs 69 million from Nipesh Tayal, owner of Sonapur Cement; over Rs 30 million from Bhim Bahadur Thapa Chhetri, owner of Kanchan Quarries and over Rs 54 million from Man Bahadur Shrestha, owner of Dolomite Limestone Industry.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14443', 'image' => '20220201031915_20220127113738_CIAA.jpg', 'article_date' => '2022-02-01 15:18:27', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '14700', 'article_category_id' => '1', 'title' => 'Influence of Westerly Wind Likely to Increase ', 'sub_title' => '', 'summary' => 'February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. ', 'content' => '<p><em>This recent photo shows snowfall in Simikot, Humla. Photo Courtesy: RSS</em></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">February 1: The Westerly wind is having partial influence on the weather in the country at present. The weather will further be affected with the increase in its influence by Wednesday night. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Department of Hydrology and Meteorology shared that currently the weather in hill areas is partly cloudy while many parts of the Terai are blanketed by dense fog. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Due to the spell of the Westerly wind, there is likelihood of light rainfall and snowfall on Wednesday. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Kathmandu Valley has witnessed sunshine due to which the severe cold felt few days ago by to the influence of the Westerly low-pressure system has been decreased to some extent. The minimum temperature of Kathmandu Valley was measured at 4.4 degrees Celsius and the maximum at 17 degrees Celsius over the last 24 hours. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The department has forecast partly to generally cloudy conditions in Province 1, Bagmati Province and Gandaki Province today afternoon (February 1) while the remaining parts will be partially cloudy. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Light rainfall is likely in few places of Province 1, Bagmati Province and Gandaki Province and in a couple of places in Madhesh Province and Lumbini Province today. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The weather in Province 1, Bagmati Province and Gandaki Province will remain partially to generally cloudy tonight while light rainfall is likely in few places in Province No 1 and Gandaki Province, the Department said. -- RSS</span></span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-02', 'keywords' => '', 'description' => '', 'sortorder' => '14442', 'image' => '20220201032150_DaneBohora_Simkot_RSS_10(2).jpg', 'article_date' => '2022-02-01 15:20:47', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '14698', 'article_category_id' => '1', 'title' => 'Food Management and Trading Company builds Structure against Set Standard ', 'sub_title' => '', 'summary' => 'February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax.', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">February 1: The Food Management and Trading Company Limited (FMTCL), which has constructed infrastructures on both sides of Ichchhumati (Tukucha) River without leaving adequate space, has not even paid land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Chairperson of KMC-11 Hiralal Tandukar informed that the state-owned company has violated the criteria set by the Council of Ministers while giving the seven ropanis of land of Bhadrakali Plaza in rent and has not even paid the land and housing tax and rental tax. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The company had published a public notice five years ago to provide the company's land on lease. According to Sarmila Neupane Subedi, information officer of the company, among more than 20 bidding companies, an agreement was done with Funland Entertainment Pvt Ltd on June 21, 2017 who agreed to pay Rs 1.51 million per month. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Although the company has rented the land, they have not paid the tax. Nepal Telecom, Rastriya Banijya Bank, Agricultural Development Bank and Insurance Board Nepal at Bhadrakali Plaza have been paying taxes to the ward office. According to the ward office, there are other offices in the area that have not paid the taxes. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">"The chief executive officer of the company, board members and other officials had visited the ward office to seek recommendation for selling its land to the metropolitan police. I asked them to pay the tax first, but they sold the land without paying the tax under pressure from higher authorities," Tandukar said. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The Council of Ministers had amended the construction standards in the municipalities and urban VDCs within the Kathmandu Valley on November 16, 2008. According to the new standard, while constructing any structure on the river bank, the builder must leave 20/20 meters of land on both sides of Bagmati, Bishnumati and Manohara rivers, and in the case of Rudramati (Dhobikhola) the distance specified by Dhobikhola project should be maintained while the criteria for other rivers is nine meters. <em>(with inputs from RSS)</em></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14441', 'image' => '20220201014844_FMTCL.jpg', 'article_date' => '2022-02-01 13:45:58', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '14697', 'article_category_id' => '1', 'title' => 'NOC Incurs Monthly Loss of Rs 4 Billion', 'sub_title' => '', 'summary' => 'February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">February 1: Nepal Oil Corporation (NOC) has been incurring a monthly loss of Rs 4 billion at present. The NOC said it has had to incur such a great loss due to the increase in prices of petroleum products. The NOC added that its net loss has increased as the loss incurred through the sales of cooking gas (LPG) is excessive.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The NOC said it is incurring a loss of Rs 2.24 billion just from the sales of LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">Executive Director of NOC, Sushil Bhattarai, informed that the state-owned oil monopoly has to incur maximum losses from the trading of LPG among petrol, diesel, aviation fuel, kerosene and LPG.</span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">NOC claims that it has been suffering from loss despite increasing the prices of petroleum products time and again. </span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif"">The last time NOC hiked the prices was on January 19. Although the NOC is supposed to revise the price list every fortnight as per the automatic pricing mechanism after the Indian Oil Corporation provides the new list, NOC has failed to comply with the mechanism.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14440', 'image' => '20220201012649_20200804040802_1596492171.Clipboard01.jpg', 'article_date' => '2022-02-01 13:26:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '14696', 'article_category_id' => '1', 'title' => 'Department of Cooperatives Preparing to Issue Unified Directive', 'sub_title' => '', 'summary' => 'February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">February 1: The Department of Cooperatives is preparing to tighten the noose on the distribution of dividends by cooperative organisations as well as setting up new service centers. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department is planning to introduce strict rules for implementing provisions related to distribution of dividends, establishment of service centres, money laundering under the Cooperatives Act and Regulations through a unified directive. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This is the first time that the Department of Cooperatives is preparing to issue a unified directive after the implementation of the Cooperatives Act 2074. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Act has a provision for the registrar to issue directives to the cooperatives. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We have prepared a unified directive with almost 100 new provisions in line with the Cooperatives Act,” said Registrar of the department Jhalakram Adhikari.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">“We will take suggestions from all stakeholders and finalize the draft soon,” he added.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The department had held discussion regarding the issue with representatives of cooperatives on Monday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to a source at the department, they are focused on implementing the Cooperatives Act and Regulations through the directive.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The draft of the directive has proposed barring cooperatives with more than 5 percent bad loans from distributing dividends. Such a proposal has been made because distribution of dividends risks the organization when bad debts are high. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, cooperatives will face action if they open service centres without taking permission from the department. The new directive also has provision that requires cooperatives to inform the department about suspicious transactions in order to discourage money laundering.</span></span></p> ', 'published' => true, 'created' => '2022-02-01', 'modified' => '2022-02-01', 'keywords' => '', 'description' => '', 'sortorder' => '14439', 'image' => '20220201115425_Cooperative dept.jpg', 'article_date' => '2022-02-01 11:53:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '14695', 'article_category_id' => '1', 'title' => 'Interest on Loans to go up as Average Spread Rate of Commercial Banks Falls to 3 Percent ', 'sub_title' => '', 'summary' => 'January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79).', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The spread rate between average loans and deposits of 27 commercial banks stood at 3 percent in the second quarter of the current Fiscal Year (FY 2078/79). </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 spread rate, which was 4.6 percent on average in the second quarter of FY 2077/78, has decreased by 1.6 points during this period.</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"">Nepal Rastra Bank has asked the commercial banks to maintain the spread rate of 4.4 percent through the Unified Directive, 2078 BS. Spread rate is the difference between the interest rate charged by banks on loans and deposits. The spread rate shows the earnings of the banks. The higher the spread rate, the more banks earn.</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 spread rate of Agriculture Development Bank has increased by 0.01 percentage points in the second quarter of the current fiscal year compared to the second quarter of last FY. The bank's spread rate was 4.37 percent in the second quarter of last year while it stood at 4.38 percent in the corresponding period this year.</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"">Bankers have said that the fall in spread rate will have a direct impact on the bank's profit. According to Krishna Bahadur Adhikari, Chief Executive Officer of Nepal Bank, the spread rate has decreased in the second quarter of the current fiscal year due to the rise in interest rates on deposits. </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"">"Decreasing the spread rate has a direct impact on the bank's profits. Although the profit of the banks has increased as compared to the second quarter of last year, it has not increased as per the business expansion,” he said.</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 official said that the interest rate on loans will increase in the coming days as the spread rate has declined in the second quarter of the current fiscal year due to stabilization of interest rates and an increase in interest rates of depositors.</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"">Manoj Gyawali, general manager of Nabil Bank, said that the spread rate has been directly affected as the NRB has tightened the interest rate difference between savings and term deposits by issuing a circular after the banks indulged in unhealthy competition by raising interest rates. The rate of all savings also went up after the NRB issued a circular stating that the difference in interest rates between term deposits and savings should not be more than 5 percentage points. As a result, the base rate has increased and the spread rate has decreased, 'he said.</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 spread rate of 11 commercial banks has been above average in the second quarter of the current fiscal year. Agriculture Development Bank, Rastriya Banijya Bank, NIC Asia Bank, Global IME Bank, Prime Commercial Bank, Nabil Bank, Kumari Bank, Prabhu Bank, Nepal SBI Bank, Citizens Bank, and Civil Bank are among the banks with spread rate above average in the second quarter of the current fiscal year. The spread rate of these banks is more than 3 percent. However, 16 banks have a below-average or 3 percent spread rate.</span></span></span></p> <p><br /> <br /> <br /> <br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14438', 'image' => '20220131063946_Banks - Copy.jpg', 'article_date' => '2022-01-31 18:39:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '14694', 'article_category_id' => '1', 'title' => 'Local Level Election Expected to Ease Liquidity Crisis ', 'sub_title' => '', 'summary' => 'January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Times New Roman","serif"">January 31: The capital market has been buoyed by the ruling coalition’s decision to go for the local level elections.</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 market, which had declined by 151.36 points last week, has increased by 105.55 points on the first trading day of this week on Sunday. </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"">On Sunday, the Nepse index closed at 2,885.53 points. Investors are excited after the ruling party agreed to hold the local elections in May. </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"">Vice President of Capital Market Reform Struggle Committee Tara Prasad Fullel said that investors are confident that a capable government will be formed through the upcoming local elections. He is of the view that the market will gain momentum this year as well like it did in previous years during the election. </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 says that the market has become positive on Sunday due to the tendency of investors to be active in raising cheap stocks when the market continues to decline. He further said the investors believe that the forthcoming election will bring liquidity into banks and financial institutions. </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 transaction amount has also increased on Sunday as compared to the previous trading day on Thursday. More than Rs 3.34 billion shares were traded on Thursday while on Sunday, shares worth Rs 6.32 billion have been traded. </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"">Api Power had the largest share in the total transaction amounting to Rs 261.516 million. </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 the market rises, the value of the investor's assets also increased by Rs 149.16 billion. Last Thursday, the total market capitalization stood at Rs 3.92 trillion which increased to Rs 4.077 trillion on Sunday. </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"">All group indicators have increased on Sunday. Investors of development banks and investment groups have earned the most on Sunday. The development banks’ group index increased at 6.56 percent and the investment group index increased at 6.35 percent. </span></span></span></p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14437', 'image' => '20220131021159_20200224104313_aaaaaaaaa.jpg', 'article_date' => '2022-01-31 14:11:16', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '14693', 'article_category_id' => '1', 'title' => 'FDI's Contribution to GDP less than 1 Percent', 'sub_title' => '', 'summary' => 'January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">January 31: The contribution of Foreign Direct Investment (FDI) to the Gross Domestic Product (GDP) of the country is found to be less than one percent, according to a government study.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">A recent study report released by the Policy Research Institute states that the contribution of foreign direct investment to the GDP is 0.54 percent.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Among the SAARC countries, the Maldives tops the list of beneficiaries to be benefit from FDI in GDP. Foreign direct investment accounts for 17.5 percent of the GDP in the Maldives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India is second on the list, with 1.76 percent share of foreign investment to its GDP. Similarly, FDI contributes 0.80 percent to Pakistan's GDP, 0.63 percent to Bangladesh and 0.54 percent to Nepal's GDP. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">India has the largest share of foreign investment in Nepal. It has made an investment of Rs 56 billion and holds 31 percent share of foreign investment in the country. China is the second largest investor with an investment of Rs 27.56 billion and Saint Kitts and Nevis, a Caribbean country, is the third largest investor with Rs 24.94 billion investment.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The country has received FDI worth Rs 11.93 billion from Ireland, Rs 8.72 billion from Singapore, Rs 7.63 billion from Australia, Rs 6.85 billion from the UAE, Rs 5.11 billion from Bangladesh, Rs 4.47 billion from South Korea and Rs 4.47 billion from the United States. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Nepal has received Rs 182 billion in foreign investment until July 2019. Of Rs 196 billion FDI received in 2019/20, Rs 16.07 billion has been in the field of hydropower and irrigation.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">The study shows that about 82 percent of the foreign investment received is directed towards energy, gas and irrigation projects. Likewise, seven percent investment has been made in the transport storage and communication sector and 11 percent in the rest. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Times New Roman","serif"">Bagmati Province has received 65.5 per cent FDI, Gandaki and Madhes have received 14 per cent each and the rest ten per cent has been received by Lumbini, Karnali and Far-Western provinces.</span></span></span></span></p> <p><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14436', 'image' => '20220131015956_20210115025352_20160222122813_ep3.jpg', 'article_date' => '2022-01-31 13:59:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '14692', 'article_category_id' => '1', 'title' => 'Cooperative Stabilization Fund Courts Controversy before Official Launch', 'sub_title' => '', 'summary' => 'January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: The Cooperative Stabilization Fund envisioned for bailing out the cooperatives that land in trouble has itself courted controversy before its official launch.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Despite initiating the process to launch the fund in accordance to the Cooperative Act related regulations, the concerned authorities have not been able to operate the fund due to dispute over the issues of operation modality and ownership.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The law has provision to include all the cooperatives that are involved in credit and savings business. Nepal Savings and Credit Central Association </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">However, some cooperatives have alleged that the Nepal Federation of Savings and Credit Cooperative Unions (NEFSCUN), the umbrella body of cooperatives in Nepal, is trying to operate the fund single-handedly. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">This has cast doubt over the operation of the fund.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Cooperatives Regulation has a provision for the chairman of NEFSCUN to lead the fund while the CEO of the federation will have the post of member secretary of the fund. Taking advantage of this provision, NEFSCUN started operating the fund by recruiting its members in the fund. The decision came under criticism from other cooperatives.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Ministry of Land Management, Cooperatives and Poverty Alleviation had formed a work procedure to operate the fund two years ago. NEFSCUN then organized a meeting of cooperatives in January-February 2020 and initiated the process to register the fund at the Department of Investment. However, both the department and the ministry denied such permission after protest from the cooperative sector. NEFSCUN, however, has been pressing for the operation of the fund without registration.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">As per the work procedure, cooperatives that have completed five years of operation and those that have been undergoing annual audit can be affiliated to the fund. The fund can be operated only after the deposit amount reaches Rs 100 million.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">So far, the fund has collected Rs 700 million from 181 affiliated members.</span></span></p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14435', 'image' => '20220131122215_ssss.jpg', 'article_date' => '2022-01-31 12:21:33', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '14691', 'article_category_id' => '1', 'title' => 'Farmers Demand Hike in Milk Price ', 'sub_title' => '', 'summary' => 'January 31: Farmers of Chitwan have demanded an immediate hike in price of milk and milk products.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 31: <span style="font-family:"Arial Unicode MS","sans-serif"">Farmers of Chitwan have demanded an immediate hike in price of milk and milk products. They have also warned of launching struggle if the unit price of milk is not increased at the earliest. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Organising a press conference in Chitwan on Sunday, Chitwan Milk Producers Cooperative Association Limited warned that they would mount pressure on the concerned authorities to increase the unit price of milk. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">They have demanded an increment of Rs 15-20 per liter of milk. It has been learnt that the government is making preparation to increase the price of milk by Rs 10 per liter and provide Rs 7 to the farmers and Rs 3 to the dairy industry. </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"">Chairman of the association Rudramani Neupane said this scheme would not be enough to maintain the unit cost of the farmers in producing milk. </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"">“With hefty rise in the price of feeds and veterinary medicines, the unit production cost of a liter of milk has reached Rs 63. Therefore, the unit price should be hiked in a way to maintain the production cost,” he said. </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"">Chairman Neupane added that they are preparing to launch agitation since the price of milk price not been increased as pledged before. -- RSS </span></span></span><br /> </p> ', 'published' => true, 'created' => '2022-01-31', 'modified' => '2022-01-31', 'keywords' => '', 'description' => '', 'sortorder' => '14434', 'image' => '20220131114329_20160707123024_milk.jpg', 'article_date' => '2022-01-31 11:42:02', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '14690', 'article_category_id' => '1', 'title' => 'Finance Minister Admits Lack of Development-Friendly Policies, Structures ', 'sub_title' => '', 'summary' => 'January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">January 30: Finance Minister Janardan Sharma has admitted that the country lacks development-friendly policies and structures to make the national economy dynamic. He made such remark during a meeting with the economic experts on Sunday. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Inadequacy of appropriate policy and necessary structures has hindered development," Minister Sharma said, adding that there was no clear economic policy in line with the constitution. “It has direct bearing on the national economy.” </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Minister further said politics is the centre of several problems, so consensus among political parties is imperative. It is necessary to frame appropriate economic policy, he further stressed. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">On the occasion, the experts said although the national economy was not pushed to the brink, certain measures should be adopted to avert the worsening situation. The restriction on import should be continued till the balance of payments (BoP) is normalized for foreign currency reserve. They suggested to the minister that the capital expenditure must be increased, agricultural products need a boost and debt in unproductive sectors discouraged to make the economy dynamic. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The discussion was attended by former vice-chairperson of the National Planning Commission Dr Shankar Sharma and Dr Min Bahadur Shrestha, Prof Dr Bishwambher Pyakurel, former ambassador to India, Dr Durgeshman Singh, political and economic analyst Hari Roka and Dr Ram Kumar Phunyal. -- RSS </span></span></p> ', 'published' => true, 'created' => '2022-01-30', 'modified' => '2022-01-30', 'keywords' => '', 'description' => '', 'sortorder' => '14433', 'image' => '20220130083311_fin min sharma.jpg', 'article_date' => '2022-01-30 20:32:26', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
