The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week,…
The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week,…
Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to…
Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal…
Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on…
Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday.…
Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human…
Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the…
Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and…
…
Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be…
The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on…
Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal…
Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern…
Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa…
Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the…
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A total of 8,490,772 shares changed hands, resulting in a total turnover of Rs 3.70 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) led the turnover amount with a total transaction of Rs 11 crores. Upakar Laghubitta Bittiya Sanstha and Unique Nepal Laghubitta Bittiya Sanstha (UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Gurans Laghubitta Bittiya Sanstha (GLBSL) faced the highest loss of 10%, closing at a market price of Rs 2139.30 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the negative territory except Manufacturing and Processing, Mutual Fund, and Trading Index. Manufacturing and Processing Index saw the highest gain at 1.40%, while the Development Bank Index lost the maximum of 0.96%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20718', 'image' => '20240515032355_collage (2).jpg', 'article_date' => '2024-05-15 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20990', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits in Banks Declining with the Drop in Interest Rates', 'sub_title' => '', 'summary' => 'Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">After the banks reduced the interest rated with the increase in liquidity, the share of general savings started to increased and fixed deposits began to decrease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank data, 58.9 percent of total deposits with banks and financial institutions were fixed deposits as of the Nepali month of Chaitra (mid-March to mid-April) in the current fiscal year. In the corresponding period of the previous fiscal year, 60.1 percent of total deposits were in fixed deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Last year, due to a lack of liquidity in the banking system, banks raised interest rates to attract more deposits, resulting in an increased share of fixed deposits. However, since the beginning of the current fiscal year, banks have started reducing interest rates, causing the share of fixed deposits to decrease.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Bhuwan Kumar Dahal, former president of the Nepal Bankers Association, stated that banks offered higher interest rates to attract deposits during the liquidity crunch last year, emphasizing term deposits. However, with improved liquidity this year, fixed deposits are gradually decreasing. "If there is a lack of liquidity, the banks offer fixed deposit schemes with higher interest rates to attract deposits," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Until the last fiscal year, banks offered high interest rates for term deposits to increase deposits. Some schemes even offered returns up to 10 times over a 21-year period. However, in the current fiscal year, increased liquidity in the banking system, due to slower credit flow compared to deposit growth, has led banks to reduce interest rates.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">By mid-April of the current year, banks and financial institutions had collected a total of Rs 6,162 billion in deposits and disbursed loans amounting to Rs 5,128 billion. During this period, bank deposits increased by 7.2 percent, while credit flow increased by only 4.6 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Bankers Association decided to end the agreement to fix a uniform interest rate from mid-July this year, allowing individual banks to set their own rates. As a result, interest rates have been continuously decreasing, with most banks reducing rates from mid-April to mid-May. For the month of Jestha (mid-May to mid-June), the maximum interest rate on fixed deposits of commercial banks has dropped below 8 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the central bank instructions, banks can offer a maximum interest rate on fixed deposits that is 5 percentage points higher than the minimum interest rate on general savings. Additionally, the difference between the maximum and minimum interest rates for all types of local currency deposit accounts, except for call deposits, cannot exceed 5 percentage points. Banks can also offer one percentage point more interest on remittance accounts compared to general term deposit accounts. According to Nepal Rastra Bank, the average interest rate on deposits of commercial banks fell to 6.53 percent in Chaitra (mid-March to mid-April), while the average interest rate on loans fell to 10.55 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As interest rates on deposits have decreased, the cost of capital for banks has also reduced, causing the base rate to drop to 8.51 percent in the review month. A year ago, the base rate of commercial banks was 10.48 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20717', 'image' => '20240515025645_Banks - Copy.jpg', 'article_date' => '2024-05-15 14:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20989', 'article_category_id' => '1', 'title' => 'Government’s Expenditure in Ten Months of Current FY Stands at 60.35 Percent of the Target', 'sub_title' => '', 'summary' => 'Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data released by the Financial Comptroller General Office, the government has spent Rs 1056.89 billion as of mid-May which is </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">60.35 percent of the annual budget allocated for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1751.31 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The current expenditure of the government as of mid-May this year stands at 65.91 percent of the annual budget. Under this heading, the government had allocated a budget of Rs 1141.78 billion but has so far spent only Rs 752.55 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the government has allocated a budget of Rs 302.7 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As of mid-May, the government has spent only Rs 111.88 billion allocated as capital expenditure which is 37.04 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the government has spent 62.6 percent of the budget under the heading of financial management. The government had allocated Rs 307.45 billion under this heading out of which it has spent Rs 192.45 billion as of mid-May.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The total revenue collected by the government during the review period is 58.2 percent of the annual target. In the current fiscal year, the government had set a target to raise revenue of Rs 1472.48 billion. As of mid-May, the government has collected revenue of Rs 857.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In terms of tax revenue, the annual target is to collect Rs 1305.47 billion but the government has so far collected Rs 746.83 billion which is 57.21 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Towards non-tax revenue, the government had set a target to collect Rs 117.62 billion out of which it has collected Rs 85.10 billion which is 72.7 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had set a target of receiving foreign grants of Rs 49.94 billion in the current fiscal year but has achieved only 5.52 percent of the target, i.e. Rs 2.75 billion.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20716', 'image' => '20240515013103_budget.jpg', 'article_date' => '2024-05-15 13:30:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20986', 'article_category_id' => '1', 'title' => 'MPs Give Mixed Reaction to Govt’s Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Parliamentarians from the ruling party defended the programmes, calling them positive and transformative, while opposition leaders described them as conventional and unpromising.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Center) leader Madhav Sapkota praised the policies and programmes overall, emphasizing the importance of their implementation. "The government must show the will to implement them," he said, noting the positive focus on self-employment and youth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Vice-president of Rastriya Swatantra Party, Dr. Swarnim Wagley, highlighted that numerous reforms have been proposed, increasing their potential linkage with the budget. "The ideas in the form of policies and programmes need to be realized through the budget," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (US) leader Rajendra Pandey characterized the policies and programmes as routine, saying they do not inspire enthusiasm or address the current political situation. "The policies and programmes do not give enthusiasm to the people and address the current political situation," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandra Bhandari, a leader of the main opposition party Nepali Congress, remarked that similar themes have been included in the policies and programmes for the past 34 years of Nepal's multi-party system. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"If only 20 percent of the policies and programmes were implemented, the country would have taken leaps towards prosperity," he commented. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20714', 'image' => '20240515113939_PRO-KTM-1066A0663(1)copy.JPG', 'article_date' => '2024-05-15 11:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20985', 'article_category_id' => '1', 'title' => 'Govt to Broaden Social Security Programme', 'sub_title' => '', 'summary' => 'Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Temporary and salaried workers in both government and organized sectors, along with those in the formal sector, will now be encompassed within the social security programme. The government has emphasized the integration of disparate social security initiatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Paudel further outlined policy adjustments aimed at eliminating redundancy among the Social Security Fund, Employees Provident Fund, and Citizen Investment Trust.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Health insurance programme to be made mandatory for organized sector</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has made it mandatory for the organized sector to enroll in the health insurance programme. Presenting the government’s policies and programs for the fiscal year 2024/25 on Tuesday, President Ram Chandra Paudel said a provision has been made for mandatory enrollment in health insurance for the organized sector. “The government will make arrangements for mandatory enrollment in health insurance for all organized sectors, including government, non-government, and others across the country,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Monthly salary payments for teachers starting next fiscal year</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has declared a significant change in teachers' salary payment procedures, stating that salaries will be disbursed monthly starting from the next fiscal year. President Ramchandra Paudel, in his address outlining the government's policies and programs for the fiscal year 2024/25, highlighted this initiative. Currently, teachers receive their salaries every four months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Furthermore, the government has announced its intention to establish a legal framework prohibiting teachers from affiliating with political parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Govt to provide electric stoves and tubewells to families below the poverty line</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has announced plans to distribute essential items such as electric stoves and tubewells to families living below the poverty line. President Ramchandra Paudel made this declaration while unveiling the policy and program for the upcoming fiscal year. Additionally, he mentioned that impoverished families will be identified and provided with free insurance through local authorities.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20713', 'image' => '20240515105349_20190106090244_Clipboard03.jpg', 'article_date' => '2024-05-15 10:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</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"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</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"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null 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Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '20991', 'article_category_id' => '1', 'title' => 'NEPSE Dips by 9.54 Points to Close at 2017.97', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 315 scrips were traded on the NEPSE through 55,862 transactions. A total of 8,490,772 shares changed hands, resulting in a total turnover of Rs 3.70 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) led the turnover amount with a total transaction of Rs 11 crores. Upakar Laghubitta Bittiya Sanstha and Unique Nepal Laghubitta Bittiya Sanstha (UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Gurans Laghubitta Bittiya Sanstha (GLBSL) faced the highest loss of 10%, closing at a market price of Rs 2139.30 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the negative territory except Manufacturing and Processing, Mutual Fund, and Trading Index. Manufacturing and Processing Index saw the highest gain at 1.40%, while the Development Bank Index lost the maximum of 0.96%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20718', 'image' => '20240515032355_collage (2).jpg', 'article_date' => '2024-05-15 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20990', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits in Banks Declining with the Drop in Interest Rates', 'sub_title' => '', 'summary' => 'Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">After the banks reduced the interest rated with the increase in liquidity, the share of general savings started to increased and fixed deposits began to decrease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank data, 58.9 percent of total deposits with banks and financial institutions were fixed deposits as of the Nepali month of Chaitra (mid-March to mid-April) in the current fiscal year. In the corresponding period of the previous fiscal year, 60.1 percent of total deposits were in fixed deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Last year, due to a lack of liquidity in the banking system, banks raised interest rates to attract more deposits, resulting in an increased share of fixed deposits. However, since the beginning of the current fiscal year, banks have started reducing interest rates, causing the share of fixed deposits to decrease.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Bhuwan Kumar Dahal, former president of the Nepal Bankers Association, stated that banks offered higher interest rates to attract deposits during the liquidity crunch last year, emphasizing term deposits. However, with improved liquidity this year, fixed deposits are gradually decreasing. "If there is a lack of liquidity, the banks offer fixed deposit schemes with higher interest rates to attract deposits," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Until the last fiscal year, banks offered high interest rates for term deposits to increase deposits. Some schemes even offered returns up to 10 times over a 21-year period. However, in the current fiscal year, increased liquidity in the banking system, due to slower credit flow compared to deposit growth, has led banks to reduce interest rates.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">By mid-April of the current year, banks and financial institutions had collected a total of Rs 6,162 billion in deposits and disbursed loans amounting to Rs 5,128 billion. During this period, bank deposits increased by 7.2 percent, while credit flow increased by only 4.6 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Bankers Association decided to end the agreement to fix a uniform interest rate from mid-July this year, allowing individual banks to set their own rates. As a result, interest rates have been continuously decreasing, with most banks reducing rates from mid-April to mid-May. For the month of Jestha (mid-May to mid-June), the maximum interest rate on fixed deposits of commercial banks has dropped below 8 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the central bank instructions, banks can offer a maximum interest rate on fixed deposits that is 5 percentage points higher than the minimum interest rate on general savings. Additionally, the difference between the maximum and minimum interest rates for all types of local currency deposit accounts, except for call deposits, cannot exceed 5 percentage points. Banks can also offer one percentage point more interest on remittance accounts compared to general term deposit accounts. According to Nepal Rastra Bank, the average interest rate on deposits of commercial banks fell to 6.53 percent in Chaitra (mid-March to mid-April), while the average interest rate on loans fell to 10.55 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As interest rates on deposits have decreased, the cost of capital for banks has also reduced, causing the base rate to drop to 8.51 percent in the review month. A year ago, the base rate of commercial banks was 10.48 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20717', 'image' => '20240515025645_Banks - Copy.jpg', 'article_date' => '2024-05-15 14:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20989', 'article_category_id' => '1', 'title' => 'Government’s Expenditure in Ten Months of Current FY Stands at 60.35 Percent of the Target', 'sub_title' => '', 'summary' => 'Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data released by the Financial Comptroller General Office, the government has spent Rs 1056.89 billion as of mid-May which is </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">60.35 percent of the annual budget allocated for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1751.31 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The current expenditure of the government as of mid-May this year stands at 65.91 percent of the annual budget. Under this heading, the government had allocated a budget of Rs 1141.78 billion but has so far spent only Rs 752.55 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the government has allocated a budget of Rs 302.7 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As of mid-May, the government has spent only Rs 111.88 billion allocated as capital expenditure which is 37.04 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the government has spent 62.6 percent of the budget under the heading of financial management. The government had allocated Rs 307.45 billion under this heading out of which it has spent Rs 192.45 billion as of mid-May.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The total revenue collected by the government during the review period is 58.2 percent of the annual target. In the current fiscal year, the government had set a target to raise revenue of Rs 1472.48 billion. As of mid-May, the government has collected revenue of Rs 857.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In terms of tax revenue, the annual target is to collect Rs 1305.47 billion but the government has so far collected Rs 746.83 billion which is 57.21 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Towards non-tax revenue, the government had set a target to collect Rs 117.62 billion out of which it has collected Rs 85.10 billion which is 72.7 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had set a target of receiving foreign grants of Rs 49.94 billion in the current fiscal year but has achieved only 5.52 percent of the target, i.e. Rs 2.75 billion.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20716', 'image' => '20240515013103_budget.jpg', 'article_date' => '2024-05-15 13:30:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20986', 'article_category_id' => '1', 'title' => 'MPs Give Mixed Reaction to Govt’s Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Parliamentarians from the ruling party defended the programmes, calling them positive and transformative, while opposition leaders described them as conventional and unpromising.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Center) leader Madhav Sapkota praised the policies and programmes overall, emphasizing the importance of their implementation. "The government must show the will to implement them," he said, noting the positive focus on self-employment and youth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Vice-president of Rastriya Swatantra Party, Dr. Swarnim Wagley, highlighted that numerous reforms have been proposed, increasing their potential linkage with the budget. "The ideas in the form of policies and programmes need to be realized through the budget," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (US) leader Rajendra Pandey characterized the policies and programmes as routine, saying they do not inspire enthusiasm or address the current political situation. "The policies and programmes do not give enthusiasm to the people and address the current political situation," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandra Bhandari, a leader of the main opposition party Nepali Congress, remarked that similar themes have been included in the policies and programmes for the past 34 years of Nepal's multi-party system. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"If only 20 percent of the policies and programmes were implemented, the country would have taken leaps towards prosperity," he commented. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20714', 'image' => '20240515113939_PRO-KTM-1066A0663(1)copy.JPG', 'article_date' => '2024-05-15 11:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20985', 'article_category_id' => '1', 'title' => 'Govt to Broaden Social Security Programme', 'sub_title' => '', 'summary' => 'Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Temporary and salaried workers in both government and organized sectors, along with those in the formal sector, will now be encompassed within the social security programme. The government has emphasized the integration of disparate social security initiatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Paudel further outlined policy adjustments aimed at eliminating redundancy among the Social Security Fund, Employees Provident Fund, and Citizen Investment Trust.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Health insurance programme to be made mandatory for organized sector</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has made it mandatory for the organized sector to enroll in the health insurance programme. Presenting the government’s policies and programs for the fiscal year 2024/25 on Tuesday, President Ram Chandra Paudel said a provision has been made for mandatory enrollment in health insurance for the organized sector. “The government will make arrangements for mandatory enrollment in health insurance for all organized sectors, including government, non-government, and others across the country,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Monthly salary payments for teachers starting next fiscal year</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has declared a significant change in teachers' salary payment procedures, stating that salaries will be disbursed monthly starting from the next fiscal year. President Ramchandra Paudel, in his address outlining the government's policies and programs for the fiscal year 2024/25, highlighted this initiative. Currently, teachers receive their salaries every four months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Furthermore, the government has announced its intention to establish a legal framework prohibiting teachers from affiliating with political parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Govt to provide electric stoves and tubewells to families below the poverty line</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has announced plans to distribute essential items such as electric stoves and tubewells to families living below the poverty line. President Ramchandra Paudel made this declaration while unveiling the policy and program for the upcoming fiscal year. Additionally, he mentioned that impoverished families will be identified and provided with free insurance through local authorities.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20713', 'image' => '20240515105349_20190106090244_Clipboard03.jpg', 'article_date' => '2024-05-15 10:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</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"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</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"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null 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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' => '20991', 'article_category_id' => '1', 'title' => 'NEPSE Dips by 9.54 Points to Close at 2017.97', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week, Wednesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: The Nepal Stock Exchange (NEPSE) Index saw a loss of 9.54 points, equivalent to 0.47%, closing at 2017.97 on the fourth trading day of the week, Wednesday.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">During today’s trading session, 315 scrips were traded on the NEPSE through 55,862 transactions. A total of 8,490,772 shares changed hands, resulting in a total turnover of Rs 3.70 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) led the turnover amount with a total transaction of Rs 11 crores. Upakar Laghubitta Bittiya Sanstha and Unique Nepal Laghubitta Bittiya Sanstha (UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Gurans Laghubitta Bittiya Sanstha (GLBSL) faced the highest loss of 10%, closing at a market price of Rs 2139.30 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the negative territory except Manufacturing and Processing, Mutual Fund, and Trading Index. Manufacturing and Processing Index saw the highest gain at 1.40%, while the Development Bank Index lost the maximum of 0.96%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20718', 'image' => '20240515032355_collage (2).jpg', 'article_date' => '2024-05-15 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20990', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits in Banks Declining with the Drop in Interest Rates', 'sub_title' => '', 'summary' => 'Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">After the banks reduced the interest rated with the increase in liquidity, the share of general savings started to increased and fixed deposits began to decrease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank data, 58.9 percent of total deposits with banks and financial institutions were fixed deposits as of the Nepali month of Chaitra (mid-March to mid-April) in the current fiscal year. In the corresponding period of the previous fiscal year, 60.1 percent of total deposits were in fixed deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Last year, due to a lack of liquidity in the banking system, banks raised interest rates to attract more deposits, resulting in an increased share of fixed deposits. However, since the beginning of the current fiscal year, banks have started reducing interest rates, causing the share of fixed deposits to decrease.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Bhuwan Kumar Dahal, former president of the Nepal Bankers Association, stated that banks offered higher interest rates to attract deposits during the liquidity crunch last year, emphasizing term deposits. However, with improved liquidity this year, fixed deposits are gradually decreasing. "If there is a lack of liquidity, the banks offer fixed deposit schemes with higher interest rates to attract deposits," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Until the last fiscal year, banks offered high interest rates for term deposits to increase deposits. Some schemes even offered returns up to 10 times over a 21-year period. However, in the current fiscal year, increased liquidity in the banking system, due to slower credit flow compared to deposit growth, has led banks to reduce interest rates.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">By mid-April of the current year, banks and financial institutions had collected a total of Rs 6,162 billion in deposits and disbursed loans amounting to Rs 5,128 billion. During this period, bank deposits increased by 7.2 percent, while credit flow increased by only 4.6 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Bankers Association decided to end the agreement to fix a uniform interest rate from mid-July this year, allowing individual banks to set their own rates. As a result, interest rates have been continuously decreasing, with most banks reducing rates from mid-April to mid-May. For the month of Jestha (mid-May to mid-June), the maximum interest rate on fixed deposits of commercial banks has dropped below 8 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the central bank instructions, banks can offer a maximum interest rate on fixed deposits that is 5 percentage points higher than the minimum interest rate on general savings. Additionally, the difference between the maximum and minimum interest rates for all types of local currency deposit accounts, except for call deposits, cannot exceed 5 percentage points. Banks can also offer one percentage point more interest on remittance accounts compared to general term deposit accounts. According to Nepal Rastra Bank, the average interest rate on deposits of commercial banks fell to 6.53 percent in Chaitra (mid-March to mid-April), while the average interest rate on loans fell to 10.55 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As interest rates on deposits have decreased, the cost of capital for banks has also reduced, causing the base rate to drop to 8.51 percent in the review month. A year ago, the base rate of commercial banks was 10.48 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20717', 'image' => '20240515025645_Banks - Copy.jpg', 'article_date' => '2024-05-15 14:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20989', 'article_category_id' => '1', 'title' => 'Government’s Expenditure in Ten Months of Current FY Stands at 60.35 Percent of the Target', 'sub_title' => '', 'summary' => 'Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data released by the Financial Comptroller General Office, the government has spent Rs 1056.89 billion as of mid-May which is </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">60.35 percent of the annual budget allocated for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1751.31 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The current expenditure of the government as of mid-May this year stands at 65.91 percent of the annual budget. Under this heading, the government had allocated a budget of Rs 1141.78 billion but has so far spent only Rs 752.55 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the government has allocated a budget of Rs 302.7 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As of mid-May, the government has spent only Rs 111.88 billion allocated as capital expenditure which is 37.04 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the government has spent 62.6 percent of the budget under the heading of financial management. The government had allocated Rs 307.45 billion under this heading out of which it has spent Rs 192.45 billion as of mid-May.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The total revenue collected by the government during the review period is 58.2 percent of the annual target. In the current fiscal year, the government had set a target to raise revenue of Rs 1472.48 billion. As of mid-May, the government has collected revenue of Rs 857.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In terms of tax revenue, the annual target is to collect Rs 1305.47 billion but the government has so far collected Rs 746.83 billion which is 57.21 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Towards non-tax revenue, the government had set a target to collect Rs 117.62 billion out of which it has collected Rs 85.10 billion which is 72.7 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had set a target of receiving foreign grants of Rs 49.94 billion in the current fiscal year but has achieved only 5.52 percent of the target, i.e. Rs 2.75 billion.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20716', 'image' => '20240515013103_budget.jpg', 'article_date' => '2024-05-15 13:30:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20986', 'article_category_id' => '1', 'title' => 'MPs Give Mixed Reaction to Govt’s Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Parliamentarians from the ruling party defended the programmes, calling them positive and transformative, while opposition leaders described them as conventional and unpromising.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Center) leader Madhav Sapkota praised the policies and programmes overall, emphasizing the importance of their implementation. "The government must show the will to implement them," he said, noting the positive focus on self-employment and youth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Vice-president of Rastriya Swatantra Party, Dr. Swarnim Wagley, highlighted that numerous reforms have been proposed, increasing their potential linkage with the budget. "The ideas in the form of policies and programmes need to be realized through the budget," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (US) leader Rajendra Pandey characterized the policies and programmes as routine, saying they do not inspire enthusiasm or address the current political situation. "The policies and programmes do not give enthusiasm to the people and address the current political situation," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandra Bhandari, a leader of the main opposition party Nepali Congress, remarked that similar themes have been included in the policies and programmes for the past 34 years of Nepal's multi-party system. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"If only 20 percent of the policies and programmes were implemented, the country would have taken leaps towards prosperity," he commented. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20714', 'image' => '20240515113939_PRO-KTM-1066A0663(1)copy.JPG', 'article_date' => '2024-05-15 11:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20985', 'article_category_id' => '1', 'title' => 'Govt to Broaden Social Security Programme', 'sub_title' => '', 'summary' => 'Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Temporary and salaried workers in both government and organized sectors, along with those in the formal sector, will now be encompassed within the social security programme. The government has emphasized the integration of disparate social security initiatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Paudel further outlined policy adjustments aimed at eliminating redundancy among the Social Security Fund, Employees Provident Fund, and Citizen Investment Trust.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Health insurance programme to be made mandatory for organized sector</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has made it mandatory for the organized sector to enroll in the health insurance programme. Presenting the government’s policies and programs for the fiscal year 2024/25 on Tuesday, President Ram Chandra Paudel said a provision has been made for mandatory enrollment in health insurance for the organized sector. “The government will make arrangements for mandatory enrollment in health insurance for all organized sectors, including government, non-government, and others across the country,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Monthly salary payments for teachers starting next fiscal year</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has declared a significant change in teachers' salary payment procedures, stating that salaries will be disbursed monthly starting from the next fiscal year. President Ramchandra Paudel, in his address outlining the government's policies and programs for the fiscal year 2024/25, highlighted this initiative. Currently, teachers receive their salaries every four months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Furthermore, the government has announced its intention to establish a legal framework prohibiting teachers from affiliating with political parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Govt to provide electric stoves and tubewells to families below the poverty line</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has announced plans to distribute essential items such as electric stoves and tubewells to families living below the poverty line. President Ramchandra Paudel made this declaration while unveiling the policy and program for the upcoming fiscal year. Additionally, he mentioned that impoverished families will be identified and provided with free insurance through local authorities.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20713', 'image' => '20240515105349_20190106090244_Clipboard03.jpg', 'article_date' => '2024-05-15 10:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</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"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</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"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null 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A total of 8,490,772 shares changed hands, resulting in a total turnover of Rs 3.70 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">People’s Power Limited (PPL) led the turnover amount with a total transaction of Rs 11 crores. Upakar Laghubitta Bittiya Sanstha and Unique Nepal Laghubitta Bittiya Sanstha (UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Conversely, Gurans Laghubitta Bittiya Sanstha (GLBSL) faced the highest loss of 10%, closing at a market price of Rs 2139.30 per share.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">In terms of sector indices, all sectors closed in the negative territory except Manufacturing and Processing, Mutual Fund, and Trading Index. Manufacturing and Processing Index saw the highest gain at 1.40%, while the Development Bank Index lost the maximum of 0.96%.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20718', 'image' => '20240515032355_collage (2).jpg', 'article_date' => '2024-05-15 15:22:28', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 1 => array( 'Article' => array( 'id' => '20990', 'article_category_id' => '1', 'title' => 'Share of Fixed Deposits in Banks Declining with the Drop in Interest Rates', 'sub_title' => '', 'summary' => 'Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">Kathmandu: As the banks and financial institutions have started reducing the interest rates, the share of fixed deposits has also started to decrease. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"ekmukta","serif"">After the banks reduced the interest rated with the increase in liquidity, the share of general savings started to increased and fixed deposits began to decrease.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to Nepal Rastra Bank data, 58.9 percent of total deposits with banks and financial institutions were fixed deposits as of the Nepali month of Chaitra (mid-March to mid-April) in the current fiscal year. In the corresponding period of the previous fiscal year, 60.1 percent of total deposits were in fixed deposits.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Last year, due to a lack of liquidity in the banking system, banks raised interest rates to attract more deposits, resulting in an increased share of fixed deposits. However, since the beginning of the current fiscal year, banks have started reducing interest rates, causing the share of fixed deposits to decrease.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Bhuwan Kumar Dahal, former president of the Nepal Bankers Association, stated that banks offered higher interest rates to attract deposits during the liquidity crunch last year, emphasizing term deposits. However, with improved liquidity this year, fixed deposits are gradually decreasing. "If there is a lack of liquidity, the banks offer fixed deposit schemes with higher interest rates to attract deposits," he said.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">Until the last fiscal year, banks offered high interest rates for term deposits to increase deposits. Some schemes even offered returns up to 10 times over a 21-year period. However, in the current fiscal year, increased liquidity in the banking system, due to slower credit flow compared to deposit growth, has led banks to reduce interest rates.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">By mid-April of the current year, banks and financial institutions had collected a total of Rs 6,162 billion in deposits and disbursed loans amounting to Rs 5,128 billion. During this period, bank deposits increased by 7.2 percent, while credit flow increased by only 4.6 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">The Nepal Bankers Association decided to end the agreement to fix a uniform interest rate from mid-July this year, allowing individual banks to set their own rates. As a result, interest rates have been continuously decreasing, with most banks reducing rates from mid-April to mid-May. For the month of Jestha (mid-May to mid-June), the maximum interest rate on fixed deposits of commercial banks has dropped below 8 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">According to the central bank instructions, banks can offer a maximum interest rate on fixed deposits that is 5 percentage points higher than the minimum interest rate on general savings. Additionally, the difference between the maximum and minimum interest rates for all types of local currency deposit accounts, except for call deposits, cannot exceed 5 percentage points. Banks can also offer one percentage point more interest on remittance accounts compared to general term deposit accounts. According to Nepal Rastra Bank, the average interest rate on deposits of commercial banks fell to 6.53 percent in Chaitra (mid-March to mid-April), while the average interest rate on loans fell to 10.55 percent.</span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif"">As interest rates on deposits have decreased, the cost of capital for banks has also reduced, causing the base rate to drop to 8.51 percent in the review month. A year ago, the base rate of commercial banks was 10.48 percent.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20717', 'image' => '20240515025645_Banks - Copy.jpg', 'article_date' => '2024-05-15 14:56:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '20989', 'article_category_id' => '1', 'title' => 'Government’s Expenditure in Ten Months of Current FY Stands at 60.35 Percent of the Target', 'sub_title' => '', 'summary' => 'Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Kathmandu: The government has spent only 60.35 percent of the allocated budget in the first ten months of the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">According to the data released by the Financial Comptroller General Office, the government has spent Rs 1056.89 billion as of mid-May which is </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">60.35 percent of the annual budget allocated for the current fiscal year.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had announced a budget of Rs 1751.31 billion in the current fiscal year. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The current expenditure of the government as of mid-May this year stands at 65.91 percent of the annual budget. Under this heading, the government had allocated a budget of Rs 1141.78 billion but has so far spent only Rs 752.55 billion. </span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Similarly, the government has allocated a budget of Rs 302.7 billion under the heading of capital expenditure.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">As of mid-May, the government has spent only Rs 111.88 billion allocated as capital expenditure which is 37.04 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Likewise, the government has spent 62.6 percent of the budget under the heading of financial management. The government had allocated Rs 307.45 billion under this heading out of which it has spent Rs 192.45 billion as of mid-May.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The total revenue collected by the government during the review period is 58.2 percent of the annual target. In the current fiscal year, the government had set a target to raise revenue of Rs 1472.48 billion. As of mid-May, the government has collected revenue of Rs 857.28 billion.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">In terms of tax revenue, the annual target is to collect Rs 1305.47 billion but the government has so far collected Rs 746.83 billion which is 57.21 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">Towards non-tax revenue, the government had set a target to collect Rs 117.62 billion out of which it has collected Rs 85.10 billion which is 72.7 percent of the target.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Nirmala UI","sans-serif"">The government had set a target of receiving foreign grants of Rs 49.94 billion in the current fiscal year but has achieved only 5.52 percent of the target, i.e. Rs 2.75 billion.</span></span></span></span></p> <p> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20716', 'image' => '20240515013103_budget.jpg', 'article_date' => '2024-05-15 13:30:31', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '20986', 'article_category_id' => '1', 'title' => 'MPs Give Mixed Reaction to Govt’s Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Kathmandu: Leaders of various political parties have given mixed reaction to the policies and programmes of the government for the upcoming fiscal year after President Ram Chandra Paudel tabled the policies and programmes at a joint sitting of the Federal Parliament on Tuesday. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Parliamentarians from the ruling party defended the programmes, calling them positive and transformative, while opposition leaders described them as conventional and unpromising.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (Maoist Center) leader Madhav Sapkota praised the policies and programmes overall, emphasizing the importance of their implementation. "The government must show the will to implement them," he said, noting the positive focus on self-employment and youth.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Vice-president of Rastriya Swatantra Party, Dr. Swarnim Wagley, highlighted that numerous reforms have been proposed, increasing their potential linkage with the budget. "The ideas in the form of policies and programmes need to be realized through the budget," he stated.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">CPN (US) leader Rajendra Pandey characterized the policies and programmes as routine, saying they do not inspire enthusiasm or address the current political situation. "The policies and programmes do not give enthusiasm to the people and address the current political situation," he said.</span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">Chandra Bhandari, a leader of the main opposition party Nepali Congress, remarked that similar themes have been included in the policies and programmes for the past 34 years of Nepal's multi-party system. </span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:14.0pt">"If only 20 percent of the policies and programmes were implemented, the country would have taken leaps towards prosperity," he commented. -- RSS</span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20714', 'image' => '20240515113939_PRO-KTM-1066A0663(1)copy.JPG', 'article_date' => '2024-05-15 11:38:59', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '20985', 'article_category_id' => '1', 'title' => 'Govt to Broaden Social Security Programme', 'sub_title' => '', 'summary' => 'Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday. ', 'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Kathmandu: The government has unveiled plans to broaden the reach of the social security programme, according to the announcement made by President Ram Chandra Paudel while presenting the government's policies and programmes during a joint meeting of the House of Representatives and National Assembly at the Federal Parliament on Tuesday.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Temporary and salaried workers in both government and organized sectors, along with those in the formal sector, will now be encompassed within the social security programme. The government has emphasized the integration of disparate social security initiatives.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">President Paudel further outlined policy adjustments aimed at eliminating redundancy among the Social Security Fund, Employees Provident Fund, and Citizen Investment Trust.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Health insurance programme to be made mandatory for organized sector</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has made it mandatory for the organized sector to enroll in the health insurance programme. Presenting the government’s policies and programs for the fiscal year 2024/25 on Tuesday, President Ram Chandra Paudel said a provision has been made for mandatory enrollment in health insurance for the organized sector. “The government will make arrangements for mandatory enrollment in health insurance for all organized sectors, including government, non-government, and others across the country,” said Poudel.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Monthly salary payments for teachers starting next fiscal year</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has declared a significant change in teachers' salary payment procedures, stating that salaries will be disbursed monthly starting from the next fiscal year. President Ramchandra Paudel, in his address outlining the government's policies and programs for the fiscal year 2024/25, highlighted this initiative. Currently, teachers receive their salaries every four months.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Furthermore, the government has announced its intention to establish a legal framework prohibiting teachers from affiliating with political parties.</span></span></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><strong><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">Govt to provide electric stoves and tubewells to families below the poverty line</span></span></strong></span></span></p> <p><span style="font-size:11pt"><span style="font-family:Calibri,"sans-serif""><span style="font-size:12.0pt"><span style="font-family:"Arial","sans-serif"">The government has announced plans to distribute essential items such as electric stoves and tubewells to families living below the poverty line. President Ramchandra Paudel made this declaration while unveiling the policy and program for the upcoming fiscal year. Additionally, he mentioned that impoverished families will be identified and provided with free insurance through local authorities.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20713', 'image' => '20240515105349_20190106090244_Clipboard03.jpg', 'article_date' => '2024-05-15 10:52:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '20984', 'article_category_id' => '1', 'title' => 'Big Hospitals to Provide OPD Services in Two Shifts', 'sub_title' => '', 'summary' => 'Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Kathmandu: The government has announced to run out-patient door (OPD) services in two shifts in the hospital with sufficient means and human resources. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Presenting the government's policies and programmes for the upcoming fiscal year in the joint session of the federal parliament on Tuesday, President Ram Chandra Paudel said that the federal hospitals would be restructured on the basis of their workloads. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Bir Hospital, National Trauma Centre, Kanti Children's Hospital and some other hospitals having enough human resources will run OPD services in two shifts while the infrastructures of Kanti Children's Hospital would be upgraded to ensure state-of-the-art services. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Kanti Children's Hospital will be equipped with the construction of additional infrastructures and upgradation. Shahid Gangalal National Heart Centre will be developed as an institution capable of producing specialists in cardiology," reads the announcement made by President Paudel. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">Likewise, the upcoming year's policies and programmes stated that the federal hospitals or health science academies at the provincial level will be upgraded to 500 beds respectively. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"Human organ transplant institutions and services will be upgraded and expanded. Special programmes will be conducted for safe motherhood and disease control. A free screening programme for prevention of cervical cancer and vaccination services for girls in the age group of 10 to 14 years will be extended to district hospitals," the President read while unveiling the policies and programmes. </span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">As per the announcement, the public health surveillance system will be strengthened for pandemic prevention, control, and preparedness and response to health emergencies and the health personnel will be deployed at border and entry points.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Calibri","sans-serif"">"A separate institutional arrangement will be made for the prevention of non-communicable disease. An action plan based on the "One Health Policy" will be implemented to minimize probable adverse effects on human health from animals, plants, and the environment," reads the policies and programmes of the government. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => 'hospital, service, OPD, out, door, patient, two, shift, government, Nepal', 'description' => '', 'sortorder' => '20711', 'image' => '20240515103139_20240514091928_20230830033211_Hospital.jpg', 'article_date' => '2024-05-15 10:30:08', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '20983', 'article_category_id' => '1', 'title' => 'Budget to Align Announced Polices and Programmes: Finance Minister', 'sub_title' => '', 'summary' => 'Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">May 15: Minister for Finance Barshaman Pun assured that the budget for fiscal year 2024/2025 would align with the policies and programmes announced in the parliament by the President. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Talking to the media after the announcement of the upcoming fiscal year's policies and programmes by the President, Finance Minister Pun argued that there will not be incompatibility in the government's policies and programmes, and budget. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">"There used to be complaints about the incompatibility between the budget, and policies and programmes but it will not happen this time," Finance Minister assured. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,"sans-serif"">Pun added that the government's policies and programmes are good and the budget will be brought to implement and supplement them for the development of the country. </span></span></p> ', 'published' => true, 'created' => '2024-05-15', 'modified' => '2024-05-15', 'keywords' => '', 'description' => '', 'sortorder' => '20710', 'image' => '20240515085242_collage (1).jpg', 'article_date' => '2024-05-15 08:51:03', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 7 => array( 'Article' => array( 'id' => '20981', 'article_category_id' => '1', 'title' => 'Government to Undertake Policy Intervention to Address Issues of Cooperatives', 'sub_title' => '', 'summary' => 'Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government has pledged to take necessary initiatives to address the problems faced by the banking sector, as well as financial institutes, microfinance, and cooperatives. This commitment was reaffirmed through its policies and programs for the upcoming fiscal year (FY 2024-25), presented by President Ram Chandra Paudel before a joint sitting of the Federal Parliament on Tuesday.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Paudel stated that the government will come up with legal provisions as the policy level to tackle the challenges faced by banks, financial institutions, and cooperatives. According to the outlined policies and programs, the government aims to promote healthy competition, supervision, and regulation by incorporating feedback received from various stakeholders to address issues within these institutions and the capital market.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government has assured the provision of refinancing and restructuring of loans for microfinance borrowers and adapting the cooperative policy to current needs. Additionally, cooperatives will be required to connect to the Cooperative and Poverty-related Management Information System. Those cooperatives with government ownership will receive support for integration, while savings and credit cooperatives will be encouraged to consider mergers, aligning with the government’s new policies and programs.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">To consolidate small capital for large projects, the government aims to integrate scattered resources and involve private investment companies in operating and managing defunct industries such as the Gorakhkali Rubber Industry, Butwal Spinning Mills, and Hetauda Garment Factory.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Furthermore, the government intends to pursue policies to ensure fair, balanced, and transparent revenue distribution. Grants will be allocated based on objective criteria, and integrated laws will be formulated to govern the mobilization and sharing of natural resources, investment, and profit-sharing among the three tiers of government, as well as to resolve disputes among them.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In an effort to mobilize innovative instruments of development finance and encourage private capital mobilization, the government has adopted additional legal provisions. It promises to enact legal and structural interventions to improve both domestic and external investment climates.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Moreover, the government pledged to streamline the approval process for domestic and foreign investments, making it more convenient and predictable through the implementation of an automated digital system.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">President Poudel emphasized that Nepal's country rating will be determined in the upcoming fiscal year, signaling the government's commitment to facilitating foreign loans and other mixed forms of investment.</span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20708', 'image' => '20240514065714_RS-KTM-11715679379248copy - Copy.jpg', 'article_date' => '2024-05-14 18:56:37', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '20980', 'article_category_id' => '1', 'title' => 'Two Climbers from Mongolia go Missing during Everest Expedition', 'sub_title' => '', 'summary' => '', 'content' => '<p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Kathmandu: Two citizens from Mongolia have gone missing during an expedition to Sagarmatha (Mt Everest).</span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">According to the Department of Tourism, those missing have been identified as Usukhjargal Tsedendamba, 31 and Purevsuren Lkhagvajav, 53. They both are males. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> The department was informed about the incident by its Field Office at the Everest Base Camp. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif""> They were last seen ascending the peak of Mt Everest from Camp IV at 8:45 am on May 13 by another expedition team. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">The search operation for them is underway at potential locations with the help of rescue management agencies. </span></span></p> <p><span style="font-size:18px"><span style="font-family:"Times New Roman","serif"">Their expedition was arranged by the Eight K Expeditions Pvt Ltd. -- RSS</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20707', 'image' => '20240514054707_20230518094613_20230330102040_1680132652.Clipboard32.jpg', 'article_date' => '2024-05-14 17:46:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '20979', 'article_category_id' => '1', 'title' => 'Post-Earthquake Reconstruction in Western Nepal to Cost Rs 63.58 Billion', 'sub_title' => '', 'summary' => 'Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The initial estimate for rebuilding structures damaged by three recent earthquakes in western Nepal suggests a budget of Rs 63.58 billion will be necessary.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The National Disaster Risk Reduction and Management Authority (NDRRMA) conducted a preliminary damage assessment valuing the destruction at approximately Rs 58 billion, with projected reconstruction costs exceeding Rs 63.5 billion.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Bharat Mani Pandey, Chief of NDRRMA’s Policy, Planning, and Monitoring Division, confirmed that reconstruction efforts are advancing following the completion of the preliminary study.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">An earthquake measuring 6.4 on the Richter scale, centered at Ramidanda in Jajarkot district, struck on November 3, 2023, claiming 154 lives and injuring 366 others. Another tremor, measuring 5.3 on the Richter scale, hit Bajhang on October 3, 2023, resulting in one fatality and 30 injuries. Prior to these events, an earthquake with a magnitude of 6.6 on the Richter scale occurred in Doti on November 8, 2022, causing six fatalities and eight injuries.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to NDRRMA data, these earthquakes damaged 95,787 houses, with an estimated value of Rs 43.39 billion. Additionally, 204 school buildings, 70 government and public buildings, 11 cultural heritage sites, nearly 200 kilometers of roads, and 121 irrigation projects were also affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The Jajarkot earthquake caused the most significant human and property damage, with over 86,000 houses affected.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">NDRRMA's preliminary assessment estimates a total reconstruction cost of Rs 63.58 billion, allocated as follows: Rs 52.46 billion for private houses, government buildings, and health, education, and cultural structures; Rs 7.18 billion for other infrastructure sectors; and Rs 1.73 billion for the enterprise sector.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The reconstruction process is underway, with plans to seek approval from the Finance Ministry for the required budget after finalizing the detailed damage assessment concept. This will facilitate retrofitting, reconstruction, and resettlement of earthquake-damaged structures in Jajarkot, Bajhang, and Doti.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Anil Pokharel, NDRRMA Chief Executive, confirmed that reconstruction activities will proceed, as the Disaster Risk Reduction and Management Executive Committee, chaired by the home minister, has approved the 'Retrofitting, Reconstruction, and Resettlement Grant Procedure for Private Houses of Disaster Affected, 2081'.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Beneficiaries will be grouped into 'A', 'B', and 'C' categories, with housing reconstruction activities prioritized accordingly. Local levels will play a significant role in the process, including preliminary loss recording and beneficiary identification by the Local Disaster Risk Reduction and Management Committees. Agreements between beneficiaries and ward chairpersons will follow, with a reconstruction completion timeline of two years post-agreement signing. -- RSS</span></span></p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20706', 'image' => '20240514041547_20231105112523_HK-Jajarkot-IMG_9219.jpg', 'article_date' => '2024-05-14 16:15:13', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '20978', 'article_category_id' => '1', 'title' => 'NEPSE Posts Significant Gain of 28.62 Points to Close at 2027.51', 'sub_title' => '', 'summary' => 'The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday.', 'content' => '<p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">May 14: The Nepal Stock Exchange(NEPSE) witnessed a substantial surge of 28.62 points, equivalent to 1.43%, closing at a 2027.51 on the third trading day of the week on Tuesday. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">During today’s trading session, 320 scrips were traded on the NEPSE through 59,856 transactions. A total of 9,855,285 shares changed their hands resulting in a total turnover of Rs 4.8 billion.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">CEDB Hydropower Development Company Limited(CHDC) led the turnover with the total transaction of Rs 15 crores. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Samaj Laghubitta Bittiya Sanstha(SAMAJ), Upakar Laghubitta Bittiya Sanstha Limited(ULBSL) and Unique Nepal Laghubitta Bittiya Sanstha Limited(UNLB) each gained 10% and hit the positive circuit for the day.</span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">Conversely, Himalayan Urja Bikas Company Limited(HURJA) incurred the maximum loss of 4.64%, closing at a market price of Rs 290 per share. </span></span></p> <p><span style="font-size:20px"><span style="font-family:Calibri,sans-serif">In terms of sector indices, all sector closed in the positive territory. Microfinance Index and HydroPower Index recorded the highest gains at 3.44% and 3.22% respectively. Trading Index experienced the least gain of 0.03%. </span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20705', 'image' => '20240514034002_collage (11).jpg', 'article_date' => '2024-05-14 15:38:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '42' ) ), (int) 11 => array( 'Article' => array( 'id' => '20977', 'article_category_id' => '1', 'title' => 'Cabinet Endorses Policies and Programmes ', 'sub_title' => '', 'summary' => 'Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. ', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The government has passed the Policies and Programmes for the upcoming fiscal year. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">A cabinet meeting held at the Office of the Prime Minister and Council of Ministers on Tuesday approved the policies and programmes, said Minister for Communications and Information Technology and Spokesperson of the government, Rekha Sharma. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">President Ram Chandra Paudel is scheduled to present the policies and programmes of the upcoming fiscal year in a joint session of the Federal Parliament on Tuesday afternoon. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The meeting also endorsed the 16th five-year plan, shared Minister Sharma. The National Planning Commission had sent the draft of the 16th periodic plan (2081/81-2085/86) to the Office of the Prime Minister and Council of Ministers on Sunday for final endorsement. -- RSS </span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20704', 'image' => '20240514025910_20240115115317_pm.jpg', 'article_date' => '2024-05-14 14:58:32', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '20976', 'article_category_id' => '1', 'title' => 'Auto Traders Rush for Import of EVs Anticipating Tax Hike ', 'sub_title' => '', 'summary' => 'Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border.', 'content' => '<p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Bijay Damase</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Kathmandu: Serpentine queues of electric vehicles, mostly four-wheelers, can be seen at present at the Rasuwagadhi and Tatopani customs points on Nepal's northern border. </span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">Government officials are suspicious about a significant surge in the import of both four-wheelers and two-wheelers powered by electricity in recent times. This uptick is believed to be driven by apprehensions of impending tax hikes in the budget for the upcoming fiscal year (FY), slated to be announced on May 28.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">The import of electric vehicles has increased due to the lower tax rates compared to vehicles powered by petroleum products, significantly impacting the government's revenue from vehicle imports</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the data of the Department of Customs, the government collected revenue of Rs 90 billion from the import of vehicles and their parts in the fiscal year 2078/79, which dropped to Rs 33.33 billion in the last fiscal year 2079/80. In the first nine months of the current fiscal year 2080/81, the department has collected Rs 39.89 billion in revenue from import of vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-family:"Segoe UI","sans-serif"">As revenue from vehicle imports, a primary source of government income, has significantly decreased, importers of electric vehicles are concerned about potential tax hikes in the upcoming budget.</span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">A representative of SPG Automobile, the seller of the Omoda-5 electric vehicle, told New Business Age that he strongly believes that the tax rate imposed on EVs will increase to some extent due to the increase in the import of electric vehicles and the decrease in the import of petroleum-based vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Amidst such suspicions of the importers, the northern customs offices are busy clearing the customs of the growing number of electric vehicles. Nepal also imports the largest number of electric vehicles from China, which surpasses the world in the production and export of electric vehicles.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Dayanand KC, Chief Customs Officer of Tatopani Customs Office, told New Business Age, "Electric Vehicles are being imported at the rate of 50/60 vehicles per day. A total of 416 electric vehicles in the month of Chaitra (mid-March to mid-April) while more than 600 EVs have arrived in the month of Baisakh (mid-April to mid-May)."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, 70 vehicles entered through the checkpoint on Saturday alone. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Last year only 219 vehicles entered through this point. </span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"The increase in import of electric vehicles has also disturbed other vehicles used in transporting goods at the border," KC said, adding, "As of Saturday, 1,136 vehicles have arrived from China this year."</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to KC, there is a significant contribution to the revenue of Tatopani Customs due to the high volume of electric vehicles imported in the current year.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"Tatopani Customs is collecting the most revenue from electric vehicles and the contribution is expected to be even more this year," he said.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the customs officials, the importers may have imported a large number of electric vehicles in a hurry due to fear that there will be a policy change in the budget.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">Similarly, the import of electric vehicles through Rasuwagadhi customs has also increased. Rasuwagadhi Customs Office Chief Ram Prasad Pathak said that BYD cars, Joy Long micro bus, King Long micro electronic bus and vans are entering through the checkpoint on a daily basis. According to him, 50 such vehicles enter through Rasuwagadhi Customs daily.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">According to the Rasuwagadhi Customs Office, 3,981 electric four-wheelers have been imported from Rasuwagadhi as of Sunday of the current fiscal year. The customs office has collected revenue of Rs 4.19 billion from the import of EVs. In the last fiscal year, 2,073 such vehicles entered through the same channel from which the government collected Rs 1.13 billion in revenue.</span></span></span></span></p> <p><span style="font-size:12pt"><span style="font-family:"Times New Roman","serif""><span style="font-size:10.5pt"><span style="font-family:"Microsoft YaHei","sans-serif"">"We have not achieved the revenue collection target yet because the target has been set quite high. However, the contribution of electric vehicles to the revenue is still high," Pathak told NBA.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20703', 'image' => '20240514020650_20200317060256_Clipboard08.jpg', 'article_date' => '2024-05-14 14:06:11', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '20975', 'article_category_id' => '1', 'title' => 'Government Seeks Proposals for Gold Exploration in Rolpa', 'sub_title' => '', 'summary' => 'Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Kathmandu: The government is preparing to issue permits to search for gold mines in Sunchhahari rural municipality of Rolpa district. The government on Monday called for proposals to issue a license for detailed exploration of gold mines in the area.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">The government is seeking applications from the private sector for the detailed study and exploration after a preliminary study by the Department of Mines and Geology found traces of gold on the rocks in the rural municipality.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">In addition to exploration of gold, the department has called for proposals to issue permits for extracting limestone from three mines along with extraction of granite, dolomite, magnesite and iron from one mine each in different parts of the country. The department has also published a notification for further exploration of two phosphorite mines.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">It is mentioned in the notification that the application for exploration permit should be submitted within 45 days and for mining permit within 60 days from the date of publication of the notification.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Shiv Kumar Baskota, under-secretary of the mineral resources branch of the department, the government has so far issued three permits for gold exploration. Among them, two permits have been issued for exploration in Rolpa's Sunchahari Rural Municipality. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"The newly issued proposal is for exploration in a new place within Sunchhahari Rural Municipality," Baskota told New Business Age.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Currently, Vienna Multipurpose Group Pvt Ltd and Classic Minerals Pvt Ltd have been given permission to explore gold within Sunchhahari Rural Municipality, while Sangrila Minerals Pvt Ltd has been given permission to explore gold in Swargadwari area of Pyuthan.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the officials of the department, they has been issuing permits to search for two types of gold mines. First kind involves the permit for exploring the primary source of gold found in the rock and the second one is to explore the source of gold found in the rivers. Sangrila Minerals has been given permission to search for gold that has flowed into the river.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to Baskota, the department had issued permits in the past to search for gold on the banks of the Karnali River in Bardiya, on the banks of the Madi River in Pyuthan and on the banks of the Rapti River in Dang.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">"Some domestic companies along with Nepali companies with Chinese investment and some other companies were issued exploration permits," he said.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Such permission is given for a period of years. “Most of them could not find the source and quit,” said Baskota. </span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to him, primary gold mines have not been found in any other place except Sunchhahari rural municipality of Rolpa.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Meanwhile, a proposal has been invited to extract limestone in Kupinde rural municipality of Salyan Rorang rural municipality of Dhading and Sitganga municipality of Arghakhanchi.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">Similarly, applications have been requested to operate granite mine in Roshi Rural Municipality of Kavrepalanchok District, dolomite in Tuwachung Municipality of Khotang, magnesite in Triyuga Municipality of Udayapur and iron mine in Bhume Rural Municipality of Rukum East.</span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif"">According to the department, applications have also been requested for further exploration of phosphorite in Puchaudi Municipality of Baitadi and Dogadkedar Rural Municipality of the same district.</span></span></p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => 'gold, exploration, permit, Nepal, Rolpa, Rukum, department, license, Chinese', 'description' => '', 'sortorder' => '20702', 'image' => '20240514012612_golddddddd.jpg', 'article_date' => '2024-05-14 13:24:58', 'homepage' => false, 'breaking_news' => true, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '20974', 'article_category_id' => '1', 'title' => 'President to Unveil Government’s Policy and Programme in a Joint Meeting of Federal Parliament Today', 'sub_title' => 'Nepali Congress Decides not to Obstruct Parliament', 'summary' => 'Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.', 'content' => '<p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">Kathmandu: The president is all set to present the government's policy and programme for the upcoming year at a joint meeting of the federal parliament on Tuesday after the main opposition party Nepali Congress decided not to obstruct parliament while the president presents the document.</span></span></span></p> <p><span style="font-size:18px"><span style="font-family:Calibri,"sans-serif""><span style="font-family:"Arial Unicode MS","sans-serif"">The Nepali Congress has been obstructing parliamentary session demanding the formation of a probe committee against the cooperative scam involving Deputy Prime Minister and Home Minister Ravi Lamichhane.</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"">According to media reports, the parliamentary party meeting of the main opposition party held at Singha Durbar on Tuesday morning, however, decided to allow the president to present the policy and programme.</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"">As per the schedule prepared by the Parliament Secretariat, President Ram Chandra Paudel will address the joint meeting of the federal parliament at 3:00 pm on Tuesday to announce the government's policy and programme for the fiscal year 2081/082 BS. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">According to the state-owned RSS, Deputy Spokesperson of Federal Parliament Secretariat Dasharath Dhamala shared that preparations for the joint meeting have been completed. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">The Federal Parliament Secretariat has extended invitations to Vice President Ramsahaya Prasad Yadav, Chief Justice Bishwambhar Prasad Shrestha and other dignitaries to attend the joint meeting of the House of Representatives (HoR) and National Assembly. </span><br /> <span style="font-family:"Arial Unicode MS","sans-serif"">Meanwhile, the main opposition Nepali Congress lawmaker Ramnath Adhikari said that the government's policy and programme should address the issues of people's livelihood, massive out-bound migration of youth and underdevelopment in the rural parts of the country, RSS reported. </span></span></span><br /> </p> <p> </p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2024-05-14', 'modified' => '2024-05-14', 'keywords' => '', 'description' => '', 'sortorder' => '20701', 'image' => '20240514115805_Parliament.jpg', 'article_date' => '2024-05-14 11:56:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ) ) $current_user = null 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| 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
