NEWS

Nepali Companies Fail to Import Chemical Fertilizers

Jan 12, 2021 0 2 minutes 33 seconds to read

January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation.…

NEA Submits Proposal to Sell Electricity to India

Jan 11, 2021 0 2 minutes 11 seconds to read

January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India’s NTPC Vidyut Vyapar Nigam (NVVN) on behalf of BRPL…

Government Unlikely to Extend Deadline for Submission of Income Details

Jan 11, 2021 0 4 minutes 10 seconds to read

January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus…

Udayapur Cement Industry to Increase its Production Capacity

Jan 11, 2021 0 1 minutes 55 seconds to read

January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the…

Government Extends Deadline for Renewal of Private Firms’ License

Jan 11, 2021 0 2 minutes 11 seconds to read

January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of…

Domestic Products of Nepal Unable to Compete in Int’l Market due to High Transportation Cost

Jan 11, 2021 0 1 minutes 5 seconds to read

January 11: Nepali entrepreneurs complain that domestic products cannot compete in international market due to the high transportation costs for overseas…

Finance Minister Urges Local Units to Properly Utilize Development Budget

Jan 10, 2021 0 1 minutes 50 seconds to read

January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local…

Government to Release Rs 6.6 Billion for Implementing Programmes at the Discretion of Former MPs

Jan 10, 2021 0 2 minutes 23 seconds to read

January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved…

Tourism Revival Task Force Remains Inactive

Jan 10, 2021 0 4 minutes 16 seconds to read

January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date.…

‘Artificial Shortage’ of Edible Oil in the Market

Jan 10, 2021 0 4 minutes 8 seconds to read

January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price.…

CNI Urges Government to Extend Deadline for Submission of Income Tax Details

Jan 10, 2021 0 1 minutes 50 seconds to read

January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till…

Hotels in Himalayan Region ‘Resume’ Operation

Jan 08, 2021 0 1 minutes 16 seconds to read

January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those…

Bhairahawa SEZ unable to Operate Fully Even in 2 Decades

Jan 08, 2021 0 1 minutes 59 seconds to read

January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility.…

NRB Tells Banks to Open Counters on Saturday for Revenue Collection

Jan 08, 2021 0 1 minutes 18 seconds to read

anuary 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January…

SEBON Preparing for Stock Market Clearance and Settlement in Two Days

Jan 08, 2021 0 2 minutes 38 seconds to read

anuary 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two…

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The Sweet Rewards of Power

By Madan Lamsal

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NEPSE

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			'id' => '12925',
			'article_category_id' => '1',
			'title' => 'Nepali Companies Fail to Import Chemical Fertilizers',
			'sub_title' => '',
			'summary' => 'January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. The companies that have failed to import chemical fertilizers do not have prior experience of bringing fertilizers to the country. This year, the government had awarded contracts to new companies for importing chemical fertilizers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">All six contracts awarded to the local companies of Nepal are nowhere near completion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the state-owned Agriculture Inputs Company Limited, Shailung Enterprisies had bagged three separate contracts to import a total of 80,000 metric tons of urea within the last nine months. Likewise, Muktinath Agriculture Company was awarded the contracts during the start of the current fiscal year to import 25,000 metric tons of urea and 30,000 metric tons of DAP. The deadlines of all these contracts have already expired. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The first two contracts of Shailung Enterprises expired in August/September and October/November respectively. Likewise, its third contract also expired in November /December. Similarly, the deadlines for Muktinath Agcitulture Company to import the fertilizers were December 3 and 4.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Spokesperson of the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire, the companies failed to import fertilizers because they did not have any previous experience in this field.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;These companies have not been able to penetrate into the international market. Because of this, the farmers had to suffer a lot,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire said that the government awarded the contracts to these two companies despite being aware of their status and lack of experience because they had submitted proposals in response to a global tender quoting the lowest amount. He said that the ministry is holding discussions to avoid similar problem in the future.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited has confiscated the deposit of Shailung Enterprises for its failure to import the fertilizer.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12924',
			'article_category_id' => '1',
			'title' => 'NEA Submits Proposal to Sell Electricity to India',
			'sub_title' => '',
			'summary' => 'January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India’s NTPC Vidyut Vyapar Nigam (NVVN) on behalf of BRPL company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India&rsquo;s </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">NTPC Vidyut Vyapar Nigam (NVVN) on behalf of </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">BRPL company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The Electricity Regulation Commission last Monday gave permission to the NEA to take part in the bidding process. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Following the green signal from the commission, NEA submitted the proposal. NEA has proposed to provide 25 megawatts of electricity for four months from June to September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Spokesperson for the NEA Madan Timsina confirmed that the state-owned utility submitted proposals last week after getting the nod from the commission.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Currently, NEA has been purchasing electricity from India through Tanakpur at the rate of Rs 6.62 (IRs 4.14) per unit. NEA has quoted the same rate in its proposal, informed spokesperson Timsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;There will be additional charges for transmission line. But we have quoted the same rate that we have been purchasing as the base rate in our proposal,&rdquo; he added. Timsina added that the bidder will be selected on the basis of open competition.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The last date for submission of proposals was January 10. NEA said it submitted the proposal well ahead of the deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">This is the first time that the NEA is making its attempt to sell electricity outside Nepal. Although NEA has been exporting electricity to India since the last few years on the basis of power exchange, but it is yet to enter the commercial market.</span></span></span></span></p>
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			'id' => '12923',
			'article_category_id' => '1',
			'title' => 'Government Unlikely to Extend Deadline for Submission of Income Details',
			'sub_title' => '',
			'summary' => 'January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private sector stakeholders including the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and the Confederation of Nepalese Industries (CNI) had requested the government to extend the deadline for submission of income tax details stating that it would be difficult for them to do so within the deadline of January 13. However the government has shown little interest toward the request made by the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Inland Revenue Department informed that the Ministry of Finance has not taken any decision regarding deadline extension and therefore it his unlikely that the demands of the private sector will be addressed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Deputy Director General of the IRD, the revenue collection in the current fiscal year stands at only Rs 8 billion so far. Pandey informed that there isn&rsquo;t any difference in the number of individuals submitting details this year compared to last fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Demanding deadline extension is understandable. But the industries and entrepreneurs have been submitting income details despite their demand,&rdquo; said Pandey.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A high-ranking official at the Revenue Department of Finance Ministry informed that the ministry has not discussed the issue of deadline extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Now, the excuse of coronavirus is no longer relevant. There isn&rsquo;t any preparation to extend the deadline,&rdquo; said the official requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the anyone who doesn&rsquo;t submit the income details within the given deadline will have to pay fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also denied deadline extension for company registration. The officials have urged one and all not to make any further delay in fulfilling their obligations.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">There is a provision for industries and entrepreneurs to submit the income details within mid-October before they pay their income tax of previous fiscal year. If the miss the initial deadline, they can submit it within mid-January after taking permission from the concerned government office. However, the private sector has been arguing that they have not been able to prepare their audit report because most of the auditors are unavailable due to Covid-19 infection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI Chairman Satish Kumar More said that they have requested the government to extend the deadline for submission of income details as they are unable to complete their internal audit. He added that they had requested for additional time as some industries are on the verge of closure due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;In the past, industries and entrepreneurs had been&nbsp; submitting the income details on time. But the system has been badly affected by coronavirus and therefore we have demanded more time,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had asked the private sector to deposit tax time and again even during the lockdown period in last fiscal year. But the government later extended the time following heavy criticism from all quarters.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12921',
			'article_category_id' => '1',
			'title' => 'Udayapur Cement Industry to Increase its Production Capacity ',
			'sub_title' => '',
			'summary' => 'January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers. The industry, which is in loss of more than Rs 4 billion, aims to increase its current production capacity to 800 tons per day. At present, the industry is producing an average of 350 tons of cement daily. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Newly-appointed General Manager Gopi Krishna Neupane, who has been in charge since Tuesday, said that there are problems including upgrading the 30 year-old factory with new technology, turning a factory in loss into a profitable company and regulating coal and gypsum import. However, he said that they are preparing strategies to resolve the problems by increasing production capacity to compensate for the loss. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that the industry, which has already established its name and has high demand, now has to compete with the private sector as well. Therefore, the industry has realized the need for immediate, medium and long-term strategies. &ldquo;Even if we produce 800 tons of cement from the stock of limestone that we have, it will be enough for 300 years,&rdquo; Neupane said, adding, &ldquo;The goal is to make the best use of this resource and to supply quality products to the consumers by competing with the private sector.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As per the decision of the Council of Ministers a few days ago, the government is ready to give Neupane a tenure of up to four years if he can make the industry profitable. The industry is also preparing to make the price of Udayapur Cement, which is being sold in the market under Gaidachhap brand, competitive. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12920',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline for Renewal of Private Firms’ License',
			'sub_title' => '',
			'summary' => 'January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry Commerce and Supplies amended the Private Firm Registration (13<sup>th</sup> amendment) Regulation 2077 to extend the deadline so that the firms that were unable to renew their license since last March can complete the renewal process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector had requested the government to extend the deadline for renewal of private firms&rsquo; license stating that they were unable to do so due to the lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Amending the regulation, the ministry decided to allow the firms to renew their license without any late fee or fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has already directed the Department of Industry, Supplies and Consumer Protection in this regard, informed Shiva Raj Sedhai, spokesperson for the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also decided to renew the license of firms that have failed to do so since the last 34 years, provided that they furnish clarification for the reason behind not renewing their license.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry said in a directive that firms that have not renewed their license since 1985 will be allowed to renew it after paying a certain amount of fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 500,000 firms were registered with the department in 1985. Spokesperson Sedhai informed that only less than half of them have been regularly renewing their license.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12919',
			'article_category_id' => '1',
			'title' => 'Domestic Products of Nepal Unable to Compete in Int’l Market due to High Transportation Cost',
			'sub_title' => '',
			'summary' => 'January 11: Nepali entrepreneurs complain that domestic products cannot compete in  international market due to the high transportation costs for overseas trade.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 11: Nepali entrepreneurs complain that domestic products cannot compete in&nbsp; international market due to the high transportation costs for overseas trade. They informed that the production cost has increased after the shipping companies started charging fares arbitrarily.<br />
A year and a half ago, the government had implemented a direct transshipment system in Indian seaports with the motive of reducing the transportation cost for foreign trade by half. However, Nepali entrepreneurs inform that the expenses have increased instead.<br />
For overseas trade, native traders of the coastal countries pay 5 to 10 percent for transportation costs. Ashok Temani, former chairman of the Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), argues that Nepali entrepreneurs have to pay up to 40 percent of such expenses.<br />
Government authorities estimate that the cost of transit for a landlocked country is normally 20 percent higher than for a coastal country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepali entrepreneurs say that they are not in a position to compete in the international market because they have to incur an additional 40 percent for transportation cost.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12918',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Local Units to Properly Utilize Development Budget',
			'sub_title' => '',
			'summary' => 'January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The finance minister made such request to the chairman of the Nepal Municipal Association Ashok Kumar Byanju and the chairman of the Federation of National Rural Municipalities Hom Narayan Shrestha during a meeting held at the Ministry of Finance on Sunday (January 9). </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The local levels have been unable to spend Rs 126 billion so far in the current fiscal year. Finance Minister Poudel urged the representatives of the local units to spend the budget for further development.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also urged them to support the families that have been badly affected by Covid-19. He also told the people&rsquo;s representatives to make the Prime Minister&rsquo;s Employment Programme more effective.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also discussed the issue of land-related problems with Byanju and Shrestha in the presence of Shiva Maya Tumbahamfe, minister for Land Management, Cooperatives and Poverty Alleviation. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Commission for Resolving Land Disputes has signed agreements with 193 local units in 4 districts. Minister Tumbahamfe informed that the commission will sign agreements with other local units and initiate its work to resolve land-related disputes. Minister Poudel, meanwhile, said that the land issue will be resolved in coordination between the federal, provincial and local governments.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Minister Tumbahamfe said that all development works take place at the local levels and therefore they should pay special attention towards it. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12917',
			'article_category_id' => '1',
			'title' => 'Government  to Release Rs 6.6 Billion for Implementing Programmes at the Discretion of Former MPs',
			'sub_title' => '',
			'summary' => 'January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prime Minister KP Sharma Oli had dissolved the lower house due to internal rift within the ruling Nepal Communist Party (NCP). But preparations are underway to utilize the budget of Rs 6.6 billion allocated for the Local Infrastructure Development Programme under which the amount is to be spent by the lawmakers at their discretion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Finance, although there are no lawmakers at the House of Representatives at the moment, the programme will go ahead as it has already been included in the annual budget.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the government has to take a new decision to halt the programmes included in the budget. They argue that the budget has already been endorsed by the parliament and therefore the Council of Ministers need to issue a new order to halt its progress.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had issued a work procedure and regulations to implement the programme after the festival of Dashain. In previous years, lawmakers were free to decide whether to spend the budget in road, infrastructure, drinking water, schools or other projects. However, this year, the government had amended the regulation that included a provision for the lawmakers to select the projects on the basis of priority. As per the work procedure, lawmakers had selected the health sector as first priority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The projects have been selected last month and most of the lawmakers choose health sector as per the new regulation,&rdquo; said joint secretary Dilli Ram Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He says that the finance ministry is ready to release budget for those programmes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12916',
			'article_category_id' => '1',
			'title' => 'Tourism Revival Task Force Remains Inactive ',
			'sub_title' => '',
			'summary' => 'January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. The task force comprises of representatives from the government and the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the eve of World Tourism Day in public private partnership model for playing an active and resulted-oriented role.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the initiative of the Ministry of Culture, Tourism and Civil Aviation. It had announced to revitalize the tourism industry by promoting domestic tourism.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At the time of the formation of the task force, it was said that the task force would coordinate between the policy makers, stakeholders and other concerned bodies for effective communication between them and also to create a trust among all stakeholders. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The then Tourism Minister Yogesh Bhattarai had taken the initiative to set up the task force with the concept of promoting domestic tourism. But the task force has not been able to work effectively ever since it was established.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say that the task force has not been able to perform as per the expectations because the government is engaged in political crisis and the private sector is in a wait and watch situation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Coordinator of the task force Deepak Raj Joshi, who is also the CEO of Nepal Tourism Board, said that they have not been able to work effectively due to lack of coordination with the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He however claimed that the task force has already prepared a work plan for the promotion of tourism and presented to the ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The year 2020 came to an end while we were busy announcing programmes and preparing the work plan. Now that all sectors have been gradually reopening, we are currently holding discussions with stakeholders regarding how to involve domestic and foreign tourists in the country in tourism-related activities in a safe and secure environment,&rdquo; said Joshi, adding, &ldquo;As we are in the discussing phase, we are not expecting results anytime soon.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that an integrated effort is required to revive the tourism industry that has been badly affected by Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Nepal Chapter of Pacific Asia Travel Association (PATA) Suresh Singh Budha informed that newly-appointed Tourism Minister Bhanu Bhakta Dhakal had called a meeting of stakeholders to discuss the issues related to tourism on Sunday (January 9). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the discussion, tourism entrepreneurs said that the foreign tourists were not hesitant to visit Nepal due to the safety standards adopted by the airline companies and also due to language barrier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already reopened the hotel industry, international flights, tourism and trekking industry in order to increase tourism activities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The World Tourism Council had stated in 2019 that the contribution of the tourism industry to Nepal&rsquo;s GDP was 6.7 percent while it created around 1.1 million employment.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12915',
			'article_category_id' => '1',
			'title' => '‘Artificial Shortage’ of Edible Oil in the Market',
			'sub_title' => '',
			'summary' => 'January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. Big industries and businessmen as well as middlemen are believed to have created artificial shortage of oil taking advantage of political instability in the country and the increase in price of raw materials of oil in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders have accused the big businessmen of causing artificial shortage and then selling the oil at high price. According to the Retail Business Association, the price of edible oil has been increasing steadily since August/September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of soybean oil has increased by almost 50 percent since late August. After the increment, soybean oil is now being sold at Rs 225 per litre. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Mustard oil of Dhara brand, which used to cost Rs 220 per litre, has increased by 18 percent and is not being sold at Rs 250 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 29 percent. Sunflower oil used to be sold at Rs 180 per litre before August. The new price is now Rs 210 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Retail Business Association Raj Kumar Shrestha informed that big industries increased the price of edible oil all of a sudden citing an increase in price of raw materials in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shrestha claimed that an artificial shortage of soybean and sunflower oil has been created in the market in collusion between industrialists, middlemen and big businessmen involved in this trade. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is difficult to find soybean and sunflower oil in the market,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists and businessmen have been exporting edible oil to India in large quantities at the moment. It is also one of the reasons for the shortage of oil in the domestic market of Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that the industrialists are more interested to sell their products in India because the Indian businessmen pay in cash while the local dealers purchase oil in credit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Consumers have been at the receiving end as edible oil of the same brand is different prices labeled in different shops. Although the retail price of Dhara mustard oil is said to be Rs 250 per litre, the retailers have been found selling the product for Rs 260.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Consumer Right Investigation Forum (CRIF), the market is in crisis because the government monitoring team and mechanism have become business-oriented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of CRIF Madhav Timilsina says that the government authorities who have been&nbsp; authorized to regulate the market call the people involved in black marketing and discuss the issue with them instead of taking action. This trend has caused further chaos, says Timilsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, officials at the Department of Industrial Supplies and Consumer Protection say that it is a regular process to call the businessmen for discussion and take action if necessary.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12914',
			'article_category_id' => '1',
			'title' => 'CNI Urges Government to Extend Deadline for Submission of Income Tax Details',
			'sub_title' => '',
			'summary' => 'January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman of CNI Satish Kumar More made such request for deadline extension with government authorities during a recent meeting, according to the state-owned national news agency (RSS).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman More argued that they have been abiding by their duty in the previous years but most of the businesses and companies have been badly affected by the COVID-19 pandemic since the last ten months. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">In such a context, there can be no alternative than to extend the deadline, RSS quoted Chairman More as saying. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CNI, many business and industries are yet to resume normal activities but are on their way to recovery. Chairman More stated that many of them are yet to complete their audit report due to the pandemic and therefore urged the government to extend the deadline till mid-April (end of Nepali calendar year).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that CNI is committed to ensure that the businesses associated with it submit the tax details to help the government attain its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the income tax act, the estimated income tax details should be submitted to the concerned department within mid-January ever year.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12913',
			'article_category_id' => '1',
			'title' => 'Hotels in Himalayan Region ‘Resume’ Operation',
			'sub_title' => '',
			'summary' => 'January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Although arrival of foreign tourists has come to a halt, the hotels in those areas have shifted their focus to domestic tourists.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Stakeholders say many such hotels and lodges in high Himalayan areas have started regular business. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">According to the chairman of Hotel and Tourism Entrepreneurs Association of Rasuwa, Ram Sharan Gajurel, around 200 hotels and lodges from Dhunche to Lantang area as well as Gosainkunda, Rasuwagadhi, Helambu, Dadepati among other areas have resumed operation.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">He added that Rasuwa district has not been much affected by Covid-19 and therefore hotels as well as schools have reopened in the region.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The impact of Covid-19 had rendered 70 guides and more than 400 workers jobless in the region. They are now hopeful of revival of tourism industry.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Tourism entrepreneurs say that Covid-19 has caused more trouble to the industry than the Maoist insurgency and the devastating earthquake of 2015.</span></span></p>

<p>&nbsp;</p>
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			'id' => '12912',
			'article_category_id' => '1',
			'title' => 'Bhairahawa SEZ unable to Operate Fully  Even in 2 Decades ',
			'sub_title' => '',
			'summary' => 'January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Industrialists complain that the SEZ that has been inaugurated twice still lacks infrastructure and some legal provisions have prevented it from coming into operation. However, the government has been saying that it will leave no stone unturned for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Initially, industrialists were not willing to set up factories at the Bhairahawa SEZ due to the provision to export 80 percent of the manufactured goods. Even after the SEZ Act was amended to allow 60 percent export, it has not been able to attract industrialists. They complain that the provision of exporting 60 percent goods is too much and the rent of the land fixed by the SEZ is also expensive. The rental charge that was Rs 150 per square meter during the time of amendment has been reduced to Rs 20 per square meter. The businessmen have been saying this is also expensive. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In a virtual meeting organised by the Society of Economic Journalist (SEJON) on Thursday regarding the special economic zone and current situation, stakeholders have stressed on the need to create a favorable environment by removing the policy hurdles in the SEZ as it has not been fully operational even in 20 years.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former vice president of the National Planning Commission Dr Shankar Sharma said that the future of other SEZs is uncertain as SEZ has not been able to operate for a long time. He stressed on the need to operate SEZ by easing export criteria. </span></span></span></span></p>
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			'title' => 'NRB Tells Banks to Open Counters on Saturday for Revenue Collection',
			'sub_title' => '',
			'summary' => 'anuary 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">January 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued such directive to the Nepal Clearing House Limited as well as branches and counters of bank that are involved in the government&rsquo;s revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued a notice on Thursday (January 7) instructing the BFIs to open their branches and counters for revenue collection in the first six months of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal Rastra Bank has said that the tax payment can be done at the branches and counters and also through electronic means using the Real Time Gross Settlement (RGTS) system. Prior to this, revenue collection had to be done during office time but now the electronic payment system has also been added for the convenience of the taxpayers.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12910',
			'article_category_id' => '1',
			'title' => 'SEBON Preparing for Stock Market Clearance and Settlement in Two Days',
			'sub_title' => '',
			'summary' => 'anuary 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is making preparations to implement the new provision, which has been included in the policies and programmes of the government for the current fiscal year, from the month of Magh (January 14).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of SEBON Bhishma Raj Dhungana informed that they are preparing to amend the existing regulation so that the stock market clearance is done within two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dhungana said that they will most likely amend the regulation within January 13 and then direct the CDS and Clearing Limited to implement the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He added that it has become necessary to make the stock market clearance and settlement fast and effective as the stock market has already gone digital. According to Dhungana, there is no need for the customers to reach the office of the broker to transfer the share. The brokers can also transfer money through IPS now. Therefore, the board expects no problem in implementing this new provision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is preparing to implement the new provision after conducting a detailed study on whether the two-day settlement is viable in the context of Nepal&rsquo;s stock market or not.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A committee formed to study the prospect of two-day settlement and clearance had also recommended to reduce the time for the settlement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CDS and Clearing Limited, which has been involved in stock market clearance and settlement, has already prepared a modality for the settlement in two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the existing provision, any individual selling their share are entitled to receive the amount of their share within three days while the buyer must also get the share within three days.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12925',
			'article_category_id' => '1',
			'title' => 'Nepali Companies Fail to Import Chemical Fertilizers',
			'sub_title' => '',
			'summary' => 'January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. The companies that have failed to import chemical fertilizers do not have prior experience of bringing fertilizers to the country. This year, the government had awarded contracts to new companies for importing chemical fertilizers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">All six contracts awarded to the local companies of Nepal are nowhere near completion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the state-owned Agriculture Inputs Company Limited, Shailung Enterprisies had bagged three separate contracts to import a total of 80,000 metric tons of urea within the last nine months. Likewise, Muktinath Agriculture Company was awarded the contracts during the start of the current fiscal year to import 25,000 metric tons of urea and 30,000 metric tons of DAP. The deadlines of all these contracts have already expired. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The first two contracts of Shailung Enterprises expired in August/September and October/November respectively. Likewise, its third contract also expired in November /December. Similarly, the deadlines for Muktinath Agcitulture Company to import the fertilizers were December 3 and 4.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Spokesperson of the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire, the companies failed to import fertilizers because they did not have any previous experience in this field.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;These companies have not been able to penetrate into the international market. Because of this, the farmers had to suffer a lot,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire said that the government awarded the contracts to these two companies despite being aware of their status and lack of experience because they had submitted proposals in response to a global tender quoting the lowest amount. He said that the ministry is holding discussions to avoid similar problem in the future.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited has confiscated the deposit of Shailung Enterprises for its failure to import the fertilizer.</span></span></span></span></p>

<p>&nbsp;</p>
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			'created' => '2021-01-12',
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		'Article' => array(
			'id' => '12924',
			'article_category_id' => '1',
			'title' => 'NEA Submits Proposal to Sell Electricity to India',
			'sub_title' => '',
			'summary' => 'January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India’s NTPC Vidyut Vyapar Nigam (NVVN) on behalf of BRPL company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India&rsquo;s </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">NTPC Vidyut Vyapar Nigam (NVVN) on behalf of </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">BRPL company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The Electricity Regulation Commission last Monday gave permission to the NEA to take part in the bidding process. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Following the green signal from the commission, NEA submitted the proposal. NEA has proposed to provide 25 megawatts of electricity for four months from June to September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Spokesperson for the NEA Madan Timsina confirmed that the state-owned utility submitted proposals last week after getting the nod from the commission.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Currently, NEA has been purchasing electricity from India through Tanakpur at the rate of Rs 6.62 (IRs 4.14) per unit. NEA has quoted the same rate in its proposal, informed spokesperson Timsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;There will be additional charges for transmission line. But we have quoted the same rate that we have been purchasing as the base rate in our proposal,&rdquo; he added. Timsina added that the bidder will be selected on the basis of open competition.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The last date for submission of proposals was January 10. NEA said it submitted the proposal well ahead of the deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">This is the first time that the NEA is making its attempt to sell electricity outside Nepal. Although NEA has been exporting electricity to India since the last few years on the basis of power exchange, but it is yet to enter the commercial market.</span></span></span></span></p>
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			'id' => '12923',
			'article_category_id' => '1',
			'title' => 'Government Unlikely to Extend Deadline for Submission of Income Details',
			'sub_title' => '',
			'summary' => 'January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private sector stakeholders including the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and the Confederation of Nepalese Industries (CNI) had requested the government to extend the deadline for submission of income tax details stating that it would be difficult for them to do so within the deadline of January 13. However the government has shown little interest toward the request made by the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Inland Revenue Department informed that the Ministry of Finance has not taken any decision regarding deadline extension and therefore it his unlikely that the demands of the private sector will be addressed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Deputy Director General of the IRD, the revenue collection in the current fiscal year stands at only Rs 8 billion so far. Pandey informed that there isn&rsquo;t any difference in the number of individuals submitting details this year compared to last fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Demanding deadline extension is understandable. But the industries and entrepreneurs have been submitting income details despite their demand,&rdquo; said Pandey.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A high-ranking official at the Revenue Department of Finance Ministry informed that the ministry has not discussed the issue of deadline extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Now, the excuse of coronavirus is no longer relevant. There isn&rsquo;t any preparation to extend the deadline,&rdquo; said the official requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the anyone who doesn&rsquo;t submit the income details within the given deadline will have to pay fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also denied deadline extension for company registration. The officials have urged one and all not to make any further delay in fulfilling their obligations.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">There is a provision for industries and entrepreneurs to submit the income details within mid-October before they pay their income tax of previous fiscal year. If the miss the initial deadline, they can submit it within mid-January after taking permission from the concerned government office. However, the private sector has been arguing that they have not been able to prepare their audit report because most of the auditors are unavailable due to Covid-19 infection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI Chairman Satish Kumar More said that they have requested the government to extend the deadline for submission of income details as they are unable to complete their internal audit. He added that they had requested for additional time as some industries are on the verge of closure due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;In the past, industries and entrepreneurs had been&nbsp; submitting the income details on time. But the system has been badly affected by coronavirus and therefore we have demanded more time,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had asked the private sector to deposit tax time and again even during the lockdown period in last fiscal year. But the government later extended the time following heavy criticism from all quarters.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12921',
			'article_category_id' => '1',
			'title' => 'Udayapur Cement Industry to Increase its Production Capacity ',
			'sub_title' => '',
			'summary' => 'January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers. The industry, which is in loss of more than Rs 4 billion, aims to increase its current production capacity to 800 tons per day. At present, the industry is producing an average of 350 tons of cement daily. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Newly-appointed General Manager Gopi Krishna Neupane, who has been in charge since Tuesday, said that there are problems including upgrading the 30 year-old factory with new technology, turning a factory in loss into a profitable company and regulating coal and gypsum import. However, he said that they are preparing strategies to resolve the problems by increasing production capacity to compensate for the loss. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that the industry, which has already established its name and has high demand, now has to compete with the private sector as well. Therefore, the industry has realized the need for immediate, medium and long-term strategies. &ldquo;Even if we produce 800 tons of cement from the stock of limestone that we have, it will be enough for 300 years,&rdquo; Neupane said, adding, &ldquo;The goal is to make the best use of this resource and to supply quality products to the consumers by competing with the private sector.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As per the decision of the Council of Ministers a few days ago, the government is ready to give Neupane a tenure of up to four years if he can make the industry profitable. The industry is also preparing to make the price of Udayapur Cement, which is being sold in the market under Gaidachhap brand, competitive. </span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12920',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline for Renewal of Private Firms’ License',
			'sub_title' => '',
			'summary' => 'January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry Commerce and Supplies amended the Private Firm Registration (13<sup>th</sup> amendment) Regulation 2077 to extend the deadline so that the firms that were unable to renew their license since last March can complete the renewal process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector had requested the government to extend the deadline for renewal of private firms&rsquo; license stating that they were unable to do so due to the lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Amending the regulation, the ministry decided to allow the firms to renew their license without any late fee or fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has already directed the Department of Industry, Supplies and Consumer Protection in this regard, informed Shiva Raj Sedhai, spokesperson for the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also decided to renew the license of firms that have failed to do so since the last 34 years, provided that they furnish clarification for the reason behind not renewing their license.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry said in a directive that firms that have not renewed their license since 1985 will be allowed to renew it after paying a certain amount of fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 500,000 firms were registered with the department in 1985. Spokesperson Sedhai informed that only less than half of them have been regularly renewing their license.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12919',
			'article_category_id' => '1',
			'title' => 'Domestic Products of Nepal Unable to Compete in Int’l Market due to High Transportation Cost',
			'sub_title' => '',
			'summary' => 'January 11: Nepali entrepreneurs complain that domestic products cannot compete in  international market due to the high transportation costs for overseas trade.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 11: Nepali entrepreneurs complain that domestic products cannot compete in&nbsp; international market due to the high transportation costs for overseas trade. They informed that the production cost has increased after the shipping companies started charging fares arbitrarily.<br />
A year and a half ago, the government had implemented a direct transshipment system in Indian seaports with the motive of reducing the transportation cost for foreign trade by half. However, Nepali entrepreneurs inform that the expenses have increased instead.<br />
For overseas trade, native traders of the coastal countries pay 5 to 10 percent for transportation costs. Ashok Temani, former chairman of the Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), argues that Nepali entrepreneurs have to pay up to 40 percent of such expenses.<br />
Government authorities estimate that the cost of transit for a landlocked country is normally 20 percent higher than for a coastal country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepali entrepreneurs say that they are not in a position to compete in the international market because they have to incur an additional 40 percent for transportation cost.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'description' => '',
			'sortorder' => '12666',
			'image' => '20210111113222_20200624020915_Birgunj Dry Port.jpg',
			'article_date' => '2021-01-11 11:31:22',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12918',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Local Units to Properly Utilize Development Budget',
			'sub_title' => '',
			'summary' => 'January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The finance minister made such request to the chairman of the Nepal Municipal Association Ashok Kumar Byanju and the chairman of the Federation of National Rural Municipalities Hom Narayan Shrestha during a meeting held at the Ministry of Finance on Sunday (January 9). </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The local levels have been unable to spend Rs 126 billion so far in the current fiscal year. Finance Minister Poudel urged the representatives of the local units to spend the budget for further development.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also urged them to support the families that have been badly affected by Covid-19. He also told the people&rsquo;s representatives to make the Prime Minister&rsquo;s Employment Programme more effective.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also discussed the issue of land-related problems with Byanju and Shrestha in the presence of Shiva Maya Tumbahamfe, minister for Land Management, Cooperatives and Poverty Alleviation. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Commission for Resolving Land Disputes has signed agreements with 193 local units in 4 districts. Minister Tumbahamfe informed that the commission will sign agreements with other local units and initiate its work to resolve land-related disputes. Minister Poudel, meanwhile, said that the land issue will be resolved in coordination between the federal, provincial and local governments.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Minister Tumbahamfe said that all development works take place at the local levels and therefore they should pay special attention towards it. </span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12917',
			'article_category_id' => '1',
			'title' => 'Government  to Release Rs 6.6 Billion for Implementing Programmes at the Discretion of Former MPs',
			'sub_title' => '',
			'summary' => 'January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prime Minister KP Sharma Oli had dissolved the lower house due to internal rift within the ruling Nepal Communist Party (NCP). But preparations are underway to utilize the budget of Rs 6.6 billion allocated for the Local Infrastructure Development Programme under which the amount is to be spent by the lawmakers at their discretion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Finance, although there are no lawmakers at the House of Representatives at the moment, the programme will go ahead as it has already been included in the annual budget.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the government has to take a new decision to halt the programmes included in the budget. They argue that the budget has already been endorsed by the parliament and therefore the Council of Ministers need to issue a new order to halt its progress.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had issued a work procedure and regulations to implement the programme after the festival of Dashain. In previous years, lawmakers were free to decide whether to spend the budget in road, infrastructure, drinking water, schools or other projects. However, this year, the government had amended the regulation that included a provision for the lawmakers to select the projects on the basis of priority. As per the work procedure, lawmakers had selected the health sector as first priority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The projects have been selected last month and most of the lawmakers choose health sector as per the new regulation,&rdquo; said joint secretary Dilli Ram Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He says that the finance ministry is ready to release budget for those programmes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12916',
			'article_category_id' => '1',
			'title' => 'Tourism Revival Task Force Remains Inactive ',
			'sub_title' => '',
			'summary' => 'January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. The task force comprises of representatives from the government and the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the eve of World Tourism Day in public private partnership model for playing an active and resulted-oriented role.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the initiative of the Ministry of Culture, Tourism and Civil Aviation. It had announced to revitalize the tourism industry by promoting domestic tourism.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At the time of the formation of the task force, it was said that the task force would coordinate between the policy makers, stakeholders and other concerned bodies for effective communication between them and also to create a trust among all stakeholders. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The then Tourism Minister Yogesh Bhattarai had taken the initiative to set up the task force with the concept of promoting domestic tourism. But the task force has not been able to work effectively ever since it was established.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say that the task force has not been able to perform as per the expectations because the government is engaged in political crisis and the private sector is in a wait and watch situation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Coordinator of the task force Deepak Raj Joshi, who is also the CEO of Nepal Tourism Board, said that they have not been able to work effectively due to lack of coordination with the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He however claimed that the task force has already prepared a work plan for the promotion of tourism and presented to the ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The year 2020 came to an end while we were busy announcing programmes and preparing the work plan. Now that all sectors have been gradually reopening, we are currently holding discussions with stakeholders regarding how to involve domestic and foreign tourists in the country in tourism-related activities in a safe and secure environment,&rdquo; said Joshi, adding, &ldquo;As we are in the discussing phase, we are not expecting results anytime soon.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that an integrated effort is required to revive the tourism industry that has been badly affected by Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Nepal Chapter of Pacific Asia Travel Association (PATA) Suresh Singh Budha informed that newly-appointed Tourism Minister Bhanu Bhakta Dhakal had called a meeting of stakeholders to discuss the issues related to tourism on Sunday (January 9). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the discussion, tourism entrepreneurs said that the foreign tourists were not hesitant to visit Nepal due to the safety standards adopted by the airline companies and also due to language barrier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already reopened the hotel industry, international flights, tourism and trekking industry in order to increase tourism activities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The World Tourism Council had stated in 2019 that the contribution of the tourism industry to Nepal&rsquo;s GDP was 6.7 percent while it created around 1.1 million employment.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12915',
			'article_category_id' => '1',
			'title' => '‘Artificial Shortage’ of Edible Oil in the Market',
			'sub_title' => '',
			'summary' => 'January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. Big industries and businessmen as well as middlemen are believed to have created artificial shortage of oil taking advantage of political instability in the country and the increase in price of raw materials of oil in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders have accused the big businessmen of causing artificial shortage and then selling the oil at high price. According to the Retail Business Association, the price of edible oil has been increasing steadily since August/September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of soybean oil has increased by almost 50 percent since late August. After the increment, soybean oil is now being sold at Rs 225 per litre. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Mustard oil of Dhara brand, which used to cost Rs 220 per litre, has increased by 18 percent and is not being sold at Rs 250 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 29 percent. Sunflower oil used to be sold at Rs 180 per litre before August. The new price is now Rs 210 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Retail Business Association Raj Kumar Shrestha informed that big industries increased the price of edible oil all of a sudden citing an increase in price of raw materials in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shrestha claimed that an artificial shortage of soybean and sunflower oil has been created in the market in collusion between industrialists, middlemen and big businessmen involved in this trade. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is difficult to find soybean and sunflower oil in the market,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists and businessmen have been exporting edible oil to India in large quantities at the moment. It is also one of the reasons for the shortage of oil in the domestic market of Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that the industrialists are more interested to sell their products in India because the Indian businessmen pay in cash while the local dealers purchase oil in credit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Consumers have been at the receiving end as edible oil of the same brand is different prices labeled in different shops. Although the retail price of Dhara mustard oil is said to be Rs 250 per litre, the retailers have been found selling the product for Rs 260.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Consumer Right Investigation Forum (CRIF), the market is in crisis because the government monitoring team and mechanism have become business-oriented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of CRIF Madhav Timilsina says that the government authorities who have been&nbsp; authorized to regulate the market call the people involved in black marketing and discuss the issue with them instead of taking action. This trend has caused further chaos, says Timilsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, officials at the Department of Industrial Supplies and Consumer Protection say that it is a regular process to call the businessmen for discussion and take action if necessary.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12914',
			'article_category_id' => '1',
			'title' => 'CNI Urges Government to Extend Deadline for Submission of Income Tax Details',
			'sub_title' => '',
			'summary' => 'January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman of CNI Satish Kumar More made such request for deadline extension with government authorities during a recent meeting, according to the state-owned national news agency (RSS).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman More argued that they have been abiding by their duty in the previous years but most of the businesses and companies have been badly affected by the COVID-19 pandemic since the last ten months. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">In such a context, there can be no alternative than to extend the deadline, RSS quoted Chairman More as saying. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CNI, many business and industries are yet to resume normal activities but are on their way to recovery. Chairman More stated that many of them are yet to complete their audit report due to the pandemic and therefore urged the government to extend the deadline till mid-April (end of Nepali calendar year).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that CNI is committed to ensure that the businesses associated with it submit the tax details to help the government attain its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the income tax act, the estimated income tax details should be submitted to the concerned department within mid-January ever year.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12913',
			'article_category_id' => '1',
			'title' => 'Hotels in Himalayan Region ‘Resume’ Operation',
			'sub_title' => '',
			'summary' => 'January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Although arrival of foreign tourists has come to a halt, the hotels in those areas have shifted their focus to domestic tourists.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Stakeholders say many such hotels and lodges in high Himalayan areas have started regular business. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">According to the chairman of Hotel and Tourism Entrepreneurs Association of Rasuwa, Ram Sharan Gajurel, around 200 hotels and lodges from Dhunche to Lantang area as well as Gosainkunda, Rasuwagadhi, Helambu, Dadepati among other areas have resumed operation.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">He added that Rasuwa district has not been much affected by Covid-19 and therefore hotels as well as schools have reopened in the region.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The impact of Covid-19 had rendered 70 guides and more than 400 workers jobless in the region. They are now hopeful of revival of tourism industry.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Tourism entrepreneurs say that Covid-19 has caused more trouble to the industry than the Maoist insurgency and the devastating earthquake of 2015.</span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12912',
			'article_category_id' => '1',
			'title' => 'Bhairahawa SEZ unable to Operate Fully  Even in 2 Decades ',
			'sub_title' => '',
			'summary' => 'January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Industrialists complain that the SEZ that has been inaugurated twice still lacks infrastructure and some legal provisions have prevented it from coming into operation. However, the government has been saying that it will leave no stone unturned for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Initially, industrialists were not willing to set up factories at the Bhairahawa SEZ due to the provision to export 80 percent of the manufactured goods. Even after the SEZ Act was amended to allow 60 percent export, it has not been able to attract industrialists. They complain that the provision of exporting 60 percent goods is too much and the rent of the land fixed by the SEZ is also expensive. The rental charge that was Rs 150 per square meter during the time of amendment has been reduced to Rs 20 per square meter. The businessmen have been saying this is also expensive. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In a virtual meeting organised by the Society of Economic Journalist (SEJON) on Thursday regarding the special economic zone and current situation, stakeholders have stressed on the need to create a favorable environment by removing the policy hurdles in the SEZ as it has not been fully operational even in 20 years.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former vice president of the National Planning Commission Dr Shankar Sharma said that the future of other SEZs is uncertain as SEZ has not been able to operate for a long time. He stressed on the need to operate SEZ by easing export criteria. </span></span></span></span></p>
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			'title' => 'NRB Tells Banks to Open Counters on Saturday for Revenue Collection',
			'sub_title' => '',
			'summary' => 'anuary 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">January 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued such directive to the Nepal Clearing House Limited as well as branches and counters of bank that are involved in the government&rsquo;s revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued a notice on Thursday (January 7) instructing the BFIs to open their branches and counters for revenue collection in the first six months of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal Rastra Bank has said that the tax payment can be done at the branches and counters and also through electronic means using the Real Time Gross Settlement (RGTS) system. Prior to this, revenue collection had to be done during office time but now the electronic payment system has also been added for the convenience of the taxpayers.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12910',
			'article_category_id' => '1',
			'title' => 'SEBON Preparing for Stock Market Clearance and Settlement in Two Days',
			'sub_title' => '',
			'summary' => 'anuary 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is making preparations to implement the new provision, which has been included in the policies and programmes of the government for the current fiscal year, from the month of Magh (January 14).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of SEBON Bhishma Raj Dhungana informed that they are preparing to amend the existing regulation so that the stock market clearance is done within two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dhungana said that they will most likely amend the regulation within January 13 and then direct the CDS and Clearing Limited to implement the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He added that it has become necessary to make the stock market clearance and settlement fast and effective as the stock market has already gone digital. According to Dhungana, there is no need for the customers to reach the office of the broker to transfer the share. The brokers can also transfer money through IPS now. Therefore, the board expects no problem in implementing this new provision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is preparing to implement the new provision after conducting a detailed study on whether the two-day settlement is viable in the context of Nepal&rsquo;s stock market or not.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A committee formed to study the prospect of two-day settlement and clearance had also recommended to reduce the time for the settlement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CDS and Clearing Limited, which has been involved in stock market clearance and settlement, has already prepared a modality for the settlement in two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the existing provision, any individual selling their share are entitled to receive the amount of their share within three days while the buyer must also get the share within three days.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12925',
			'article_category_id' => '1',
			'title' => 'Nepali Companies Fail to Import Chemical Fertilizers',
			'sub_title' => '',
			'summary' => 'January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. The companies that have failed to import chemical fertilizers do not have prior experience of bringing fertilizers to the country. This year, the government had awarded contracts to new companies for importing chemical fertilizers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">All six contracts awarded to the local companies of Nepal are nowhere near completion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the state-owned Agriculture Inputs Company Limited, Shailung Enterprisies had bagged three separate contracts to import a total of 80,000 metric tons of urea within the last nine months. Likewise, Muktinath Agriculture Company was awarded the contracts during the start of the current fiscal year to import 25,000 metric tons of urea and 30,000 metric tons of DAP. The deadlines of all these contracts have already expired. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The first two contracts of Shailung Enterprises expired in August/September and October/November respectively. Likewise, its third contract also expired in November /December. Similarly, the deadlines for Muktinath Agcitulture Company to import the fertilizers were December 3 and 4.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Spokesperson of the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire, the companies failed to import fertilizers because they did not have any previous experience in this field.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;These companies have not been able to penetrate into the international market. Because of this, the farmers had to suffer a lot,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire said that the government awarded the contracts to these two companies despite being aware of their status and lack of experience because they had submitted proposals in response to a global tender quoting the lowest amount. He said that the ministry is holding discussions to avoid similar problem in the future.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited has confiscated the deposit of Shailung Enterprises for its failure to import the fertilizer.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12924',
			'article_category_id' => '1',
			'title' => 'NEA Submits Proposal to Sell Electricity to India',
			'sub_title' => '',
			'summary' => 'January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India’s NTPC Vidyut Vyapar Nigam (NVVN) on behalf of BRPL company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India&rsquo;s </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">NTPC Vidyut Vyapar Nigam (NVVN) on behalf of </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">BRPL company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The Electricity Regulation Commission last Monday gave permission to the NEA to take part in the bidding process. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Following the green signal from the commission, NEA submitted the proposal. NEA has proposed to provide 25 megawatts of electricity for four months from June to September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Spokesperson for the NEA Madan Timsina confirmed that the state-owned utility submitted proposals last week after getting the nod from the commission.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Currently, NEA has been purchasing electricity from India through Tanakpur at the rate of Rs 6.62 (IRs 4.14) per unit. NEA has quoted the same rate in its proposal, informed spokesperson Timsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;There will be additional charges for transmission line. But we have quoted the same rate that we have been purchasing as the base rate in our proposal,&rdquo; he added. Timsina added that the bidder will be selected on the basis of open competition.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The last date for submission of proposals was January 10. NEA said it submitted the proposal well ahead of the deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">This is the first time that the NEA is making its attempt to sell electricity outside Nepal. Although NEA has been exporting electricity to India since the last few years on the basis of power exchange, but it is yet to enter the commercial market.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12923',
			'article_category_id' => '1',
			'title' => 'Government Unlikely to Extend Deadline for Submission of Income Details',
			'sub_title' => '',
			'summary' => 'January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private sector stakeholders including the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and the Confederation of Nepalese Industries (CNI) had requested the government to extend the deadline for submission of income tax details stating that it would be difficult for them to do so within the deadline of January 13. However the government has shown little interest toward the request made by the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Inland Revenue Department informed that the Ministry of Finance has not taken any decision regarding deadline extension and therefore it his unlikely that the demands of the private sector will be addressed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Deputy Director General of the IRD, the revenue collection in the current fiscal year stands at only Rs 8 billion so far. Pandey informed that there isn&rsquo;t any difference in the number of individuals submitting details this year compared to last fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Demanding deadline extension is understandable. But the industries and entrepreneurs have been submitting income details despite their demand,&rdquo; said Pandey.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A high-ranking official at the Revenue Department of Finance Ministry informed that the ministry has not discussed the issue of deadline extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Now, the excuse of coronavirus is no longer relevant. There isn&rsquo;t any preparation to extend the deadline,&rdquo; said the official requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the anyone who doesn&rsquo;t submit the income details within the given deadline will have to pay fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also denied deadline extension for company registration. The officials have urged one and all not to make any further delay in fulfilling their obligations.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">There is a provision for industries and entrepreneurs to submit the income details within mid-October before they pay their income tax of previous fiscal year. If the miss the initial deadline, they can submit it within mid-January after taking permission from the concerned government office. However, the private sector has been arguing that they have not been able to prepare their audit report because most of the auditors are unavailable due to Covid-19 infection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI Chairman Satish Kumar More said that they have requested the government to extend the deadline for submission of income details as they are unable to complete their internal audit. He added that they had requested for additional time as some industries are on the verge of closure due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;In the past, industries and entrepreneurs had been&nbsp; submitting the income details on time. But the system has been badly affected by coronavirus and therefore we have demanded more time,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had asked the private sector to deposit tax time and again even during the lockdown period in last fiscal year. But the government later extended the time following heavy criticism from all quarters.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12921',
			'article_category_id' => '1',
			'title' => 'Udayapur Cement Industry to Increase its Production Capacity ',
			'sub_title' => '',
			'summary' => 'January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers. The industry, which is in loss of more than Rs 4 billion, aims to increase its current production capacity to 800 tons per day. At present, the industry is producing an average of 350 tons of cement daily. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Newly-appointed General Manager Gopi Krishna Neupane, who has been in charge since Tuesday, said that there are problems including upgrading the 30 year-old factory with new technology, turning a factory in loss into a profitable company and regulating coal and gypsum import. However, he said that they are preparing strategies to resolve the problems by increasing production capacity to compensate for the loss. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that the industry, which has already established its name and has high demand, now has to compete with the private sector as well. Therefore, the industry has realized the need for immediate, medium and long-term strategies. &ldquo;Even if we produce 800 tons of cement from the stock of limestone that we have, it will be enough for 300 years,&rdquo; Neupane said, adding, &ldquo;The goal is to make the best use of this resource and to supply quality products to the consumers by competing with the private sector.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As per the decision of the Council of Ministers a few days ago, the government is ready to give Neupane a tenure of up to four years if he can make the industry profitable. The industry is also preparing to make the price of Udayapur Cement, which is being sold in the market under Gaidachhap brand, competitive. </span></span></span></span></p>

<p>&nbsp;</p>
',
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		'Article' => array(
			'id' => '12920',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline for Renewal of Private Firms’ License',
			'sub_title' => '',
			'summary' => 'January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry Commerce and Supplies amended the Private Firm Registration (13<sup>th</sup> amendment) Regulation 2077 to extend the deadline so that the firms that were unable to renew their license since last March can complete the renewal process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector had requested the government to extend the deadline for renewal of private firms&rsquo; license stating that they were unable to do so due to the lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Amending the regulation, the ministry decided to allow the firms to renew their license without any late fee or fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has already directed the Department of Industry, Supplies and Consumer Protection in this regard, informed Shiva Raj Sedhai, spokesperson for the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also decided to renew the license of firms that have failed to do so since the last 34 years, provided that they furnish clarification for the reason behind not renewing their license.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry said in a directive that firms that have not renewed their license since 1985 will be allowed to renew it after paying a certain amount of fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 500,000 firms were registered with the department in 1985. Spokesperson Sedhai informed that only less than half of them have been regularly renewing their license.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 5 => array(
		'Article' => array(
			'id' => '12919',
			'article_category_id' => '1',
			'title' => 'Domestic Products of Nepal Unable to Compete in Int’l Market due to High Transportation Cost',
			'sub_title' => '',
			'summary' => 'January 11: Nepali entrepreneurs complain that domestic products cannot compete in  international market due to the high transportation costs for overseas trade.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 11: Nepali entrepreneurs complain that domestic products cannot compete in&nbsp; international market due to the high transportation costs for overseas trade. They informed that the production cost has increased after the shipping companies started charging fares arbitrarily.<br />
A year and a half ago, the government had implemented a direct transshipment system in Indian seaports with the motive of reducing the transportation cost for foreign trade by half. However, Nepali entrepreneurs inform that the expenses have increased instead.<br />
For overseas trade, native traders of the coastal countries pay 5 to 10 percent for transportation costs. Ashok Temani, former chairman of the Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), argues that Nepali entrepreneurs have to pay up to 40 percent of such expenses.<br />
Government authorities estimate that the cost of transit for a landlocked country is normally 20 percent higher than for a coastal country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepali entrepreneurs say that they are not in a position to compete in the international market because they have to incur an additional 40 percent for transportation cost.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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			'sortorder' => '12666',
			'image' => '20210111113222_20200624020915_Birgunj Dry Port.jpg',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12918',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Local Units to Properly Utilize Development Budget',
			'sub_title' => '',
			'summary' => 'January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The finance minister made such request to the chairman of the Nepal Municipal Association Ashok Kumar Byanju and the chairman of the Federation of National Rural Municipalities Hom Narayan Shrestha during a meeting held at the Ministry of Finance on Sunday (January 9). </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The local levels have been unable to spend Rs 126 billion so far in the current fiscal year. Finance Minister Poudel urged the representatives of the local units to spend the budget for further development.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also urged them to support the families that have been badly affected by Covid-19. He also told the people&rsquo;s representatives to make the Prime Minister&rsquo;s Employment Programme more effective.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also discussed the issue of land-related problems with Byanju and Shrestha in the presence of Shiva Maya Tumbahamfe, minister for Land Management, Cooperatives and Poverty Alleviation. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Commission for Resolving Land Disputes has signed agreements with 193 local units in 4 districts. Minister Tumbahamfe informed that the commission will sign agreements with other local units and initiate its work to resolve land-related disputes. Minister Poudel, meanwhile, said that the land issue will be resolved in coordination between the federal, provincial and local governments.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Minister Tumbahamfe said that all development works take place at the local levels and therefore they should pay special attention towards it. </span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12917',
			'article_category_id' => '1',
			'title' => 'Government  to Release Rs 6.6 Billion for Implementing Programmes at the Discretion of Former MPs',
			'sub_title' => '',
			'summary' => 'January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prime Minister KP Sharma Oli had dissolved the lower house due to internal rift within the ruling Nepal Communist Party (NCP). But preparations are underway to utilize the budget of Rs 6.6 billion allocated for the Local Infrastructure Development Programme under which the amount is to be spent by the lawmakers at their discretion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Finance, although there are no lawmakers at the House of Representatives at the moment, the programme will go ahead as it has already been included in the annual budget.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the government has to take a new decision to halt the programmes included in the budget. They argue that the budget has already been endorsed by the parliament and therefore the Council of Ministers need to issue a new order to halt its progress.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had issued a work procedure and regulations to implement the programme after the festival of Dashain. In previous years, lawmakers were free to decide whether to spend the budget in road, infrastructure, drinking water, schools or other projects. However, this year, the government had amended the regulation that included a provision for the lawmakers to select the projects on the basis of priority. As per the work procedure, lawmakers had selected the health sector as first priority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The projects have been selected last month and most of the lawmakers choose health sector as per the new regulation,&rdquo; said joint secretary Dilli Ram Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He says that the finance ministry is ready to release budget for those programmes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12916',
			'article_category_id' => '1',
			'title' => 'Tourism Revival Task Force Remains Inactive ',
			'sub_title' => '',
			'summary' => 'January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. The task force comprises of representatives from the government and the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the eve of World Tourism Day in public private partnership model for playing an active and resulted-oriented role.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the initiative of the Ministry of Culture, Tourism and Civil Aviation. It had announced to revitalize the tourism industry by promoting domestic tourism.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At the time of the formation of the task force, it was said that the task force would coordinate between the policy makers, stakeholders and other concerned bodies for effective communication between them and also to create a trust among all stakeholders. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The then Tourism Minister Yogesh Bhattarai had taken the initiative to set up the task force with the concept of promoting domestic tourism. But the task force has not been able to work effectively ever since it was established.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say that the task force has not been able to perform as per the expectations because the government is engaged in political crisis and the private sector is in a wait and watch situation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Coordinator of the task force Deepak Raj Joshi, who is also the CEO of Nepal Tourism Board, said that they have not been able to work effectively due to lack of coordination with the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He however claimed that the task force has already prepared a work plan for the promotion of tourism and presented to the ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The year 2020 came to an end while we were busy announcing programmes and preparing the work plan. Now that all sectors have been gradually reopening, we are currently holding discussions with stakeholders regarding how to involve domestic and foreign tourists in the country in tourism-related activities in a safe and secure environment,&rdquo; said Joshi, adding, &ldquo;As we are in the discussing phase, we are not expecting results anytime soon.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that an integrated effort is required to revive the tourism industry that has been badly affected by Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Nepal Chapter of Pacific Asia Travel Association (PATA) Suresh Singh Budha informed that newly-appointed Tourism Minister Bhanu Bhakta Dhakal had called a meeting of stakeholders to discuss the issues related to tourism on Sunday (January 9). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the discussion, tourism entrepreneurs said that the foreign tourists were not hesitant to visit Nepal due to the safety standards adopted by the airline companies and also due to language barrier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already reopened the hotel industry, international flights, tourism and trekking industry in order to increase tourism activities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The World Tourism Council had stated in 2019 that the contribution of the tourism industry to Nepal&rsquo;s GDP was 6.7 percent while it created around 1.1 million employment.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12915',
			'article_category_id' => '1',
			'title' => '‘Artificial Shortage’ of Edible Oil in the Market',
			'sub_title' => '',
			'summary' => 'January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. Big industries and businessmen as well as middlemen are believed to have created artificial shortage of oil taking advantage of political instability in the country and the increase in price of raw materials of oil in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders have accused the big businessmen of causing artificial shortage and then selling the oil at high price. According to the Retail Business Association, the price of edible oil has been increasing steadily since August/September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of soybean oil has increased by almost 50 percent since late August. After the increment, soybean oil is now being sold at Rs 225 per litre. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Mustard oil of Dhara brand, which used to cost Rs 220 per litre, has increased by 18 percent and is not being sold at Rs 250 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 29 percent. Sunflower oil used to be sold at Rs 180 per litre before August. The new price is now Rs 210 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Retail Business Association Raj Kumar Shrestha informed that big industries increased the price of edible oil all of a sudden citing an increase in price of raw materials in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shrestha claimed that an artificial shortage of soybean and sunflower oil has been created in the market in collusion between industrialists, middlemen and big businessmen involved in this trade. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is difficult to find soybean and sunflower oil in the market,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists and businessmen have been exporting edible oil to India in large quantities at the moment. It is also one of the reasons for the shortage of oil in the domestic market of Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that the industrialists are more interested to sell their products in India because the Indian businessmen pay in cash while the local dealers purchase oil in credit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Consumers have been at the receiving end as edible oil of the same brand is different prices labeled in different shops. Although the retail price of Dhara mustard oil is said to be Rs 250 per litre, the retailers have been found selling the product for Rs 260.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Consumer Right Investigation Forum (CRIF), the market is in crisis because the government monitoring team and mechanism have become business-oriented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of CRIF Madhav Timilsina says that the government authorities who have been&nbsp; authorized to regulate the market call the people involved in black marketing and discuss the issue with them instead of taking action. This trend has caused further chaos, says Timilsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, officials at the Department of Industrial Supplies and Consumer Protection say that it is a regular process to call the businessmen for discussion and take action if necessary.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12914',
			'article_category_id' => '1',
			'title' => 'CNI Urges Government to Extend Deadline for Submission of Income Tax Details',
			'sub_title' => '',
			'summary' => 'January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman of CNI Satish Kumar More made such request for deadline extension with government authorities during a recent meeting, according to the state-owned national news agency (RSS).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman More argued that they have been abiding by their duty in the previous years but most of the businesses and companies have been badly affected by the COVID-19 pandemic since the last ten months. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">In such a context, there can be no alternative than to extend the deadline, RSS quoted Chairman More as saying. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CNI, many business and industries are yet to resume normal activities but are on their way to recovery. Chairman More stated that many of them are yet to complete their audit report due to the pandemic and therefore urged the government to extend the deadline till mid-April (end of Nepali calendar year).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that CNI is committed to ensure that the businesses associated with it submit the tax details to help the government attain its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the income tax act, the estimated income tax details should be submitted to the concerned department within mid-January ever year.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12913',
			'article_category_id' => '1',
			'title' => 'Hotels in Himalayan Region ‘Resume’ Operation',
			'sub_title' => '',
			'summary' => 'January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Although arrival of foreign tourists has come to a halt, the hotels in those areas have shifted their focus to domestic tourists.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Stakeholders say many such hotels and lodges in high Himalayan areas have started regular business. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">According to the chairman of Hotel and Tourism Entrepreneurs Association of Rasuwa, Ram Sharan Gajurel, around 200 hotels and lodges from Dhunche to Lantang area as well as Gosainkunda, Rasuwagadhi, Helambu, Dadepati among other areas have resumed operation.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">He added that Rasuwa district has not been much affected by Covid-19 and therefore hotels as well as schools have reopened in the region.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The impact of Covid-19 had rendered 70 guides and more than 400 workers jobless in the region. They are now hopeful of revival of tourism industry.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Tourism entrepreneurs say that Covid-19 has caused more trouble to the industry than the Maoist insurgency and the devastating earthquake of 2015.</span></span></p>

<p>&nbsp;</p>
',
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	(int) 12 => array(
		'Article' => array(
			'id' => '12912',
			'article_category_id' => '1',
			'title' => 'Bhairahawa SEZ unable to Operate Fully  Even in 2 Decades ',
			'sub_title' => '',
			'summary' => 'January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Industrialists complain that the SEZ that has been inaugurated twice still lacks infrastructure and some legal provisions have prevented it from coming into operation. However, the government has been saying that it will leave no stone unturned for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Initially, industrialists were not willing to set up factories at the Bhairahawa SEZ due to the provision to export 80 percent of the manufactured goods. Even after the SEZ Act was amended to allow 60 percent export, it has not been able to attract industrialists. They complain that the provision of exporting 60 percent goods is too much and the rent of the land fixed by the SEZ is also expensive. The rental charge that was Rs 150 per square meter during the time of amendment has been reduced to Rs 20 per square meter. The businessmen have been saying this is also expensive. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In a virtual meeting organised by the Society of Economic Journalist (SEJON) on Thursday regarding the special economic zone and current situation, stakeholders have stressed on the need to create a favorable environment by removing the policy hurdles in the SEZ as it has not been fully operational even in 20 years.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former vice president of the National Planning Commission Dr Shankar Sharma said that the future of other SEZs is uncertain as SEZ has not been able to operate for a long time. He stressed on the need to operate SEZ by easing export criteria. </span></span></span></span></p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12911',
			'article_category_id' => '1',
			'title' => 'NRB Tells Banks to Open Counters on Saturday for Revenue Collection',
			'sub_title' => '',
			'summary' => 'anuary 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">January 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued such directive to the Nepal Clearing House Limited as well as branches and counters of bank that are involved in the government&rsquo;s revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued a notice on Thursday (January 7) instructing the BFIs to open their branches and counters for revenue collection in the first six months of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal Rastra Bank has said that the tax payment can be done at the branches and counters and also through electronic means using the Real Time Gross Settlement (RGTS) system. Prior to this, revenue collection had to be done during office time but now the electronic payment system has also been added for the convenience of the taxpayers.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12910',
			'article_category_id' => '1',
			'title' => 'SEBON Preparing for Stock Market Clearance and Settlement in Two Days',
			'sub_title' => '',
			'summary' => 'anuary 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is making preparations to implement the new provision, which has been included in the policies and programmes of the government for the current fiscal year, from the month of Magh (January 14).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of SEBON Bhishma Raj Dhungana informed that they are preparing to amend the existing regulation so that the stock market clearance is done within two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dhungana said that they will most likely amend the regulation within January 13 and then direct the CDS and Clearing Limited to implement the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He added that it has become necessary to make the stock market clearance and settlement fast and effective as the stock market has already gone digital. According to Dhungana, there is no need for the customers to reach the office of the broker to transfer the share. The brokers can also transfer money through IPS now. Therefore, the board expects no problem in implementing this new provision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is preparing to implement the new provision after conducting a detailed study on whether the two-day settlement is viable in the context of Nepal&rsquo;s stock market or not.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A committee formed to study the prospect of two-day settlement and clearance had also recommended to reduce the time for the settlement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CDS and Clearing Limited, which has been involved in stock market clearance and settlement, has already prepared a modality for the settlement in two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the existing provision, any individual selling their share are entitled to receive the amount of their share within three days while the buyer must also get the share within three days.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12925',
			'article_category_id' => '1',
			'title' => 'Nepali Companies Fail to Import Chemical Fertilizers',
			'sub_title' => '',
			'summary' => 'January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 12: None of the Nepali companies that had bagged the contract to import fertilizers have fulfilled their obligation. The companies that have failed to import chemical fertilizers do not have prior experience of bringing fertilizers to the country. This year, the government had awarded contracts to new companies for importing chemical fertilizers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">All six contracts awarded to the local companies of Nepal are nowhere near completion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the state-owned Agriculture Inputs Company Limited, Shailung Enterprisies had bagged three separate contracts to import a total of 80,000 metric tons of urea within the last nine months. Likewise, Muktinath Agriculture Company was awarded the contracts during the start of the current fiscal year to import 25,000 metric tons of urea and 30,000 metric tons of DAP. The deadlines of all these contracts have already expired. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The first two contracts of Shailung Enterprises expired in August/September and October/November respectively. Likewise, its third contract also expired in November /December. Similarly, the deadlines for Muktinath Agcitulture Company to import the fertilizers were December 3 and 4.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Spokesperson of the Ministry of Agriculture and Livestock Development Dr Shree Ram Ghimire, the companies failed to import fertilizers because they did not have any previous experience in this field.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;These companies have not been able to penetrate into the international market. Because of this, the farmers had to suffer a lot,&rdquo; said Ghimire.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Ghimire said that the government awarded the contracts to these two companies despite being aware of their status and lack of experience because they had submitted proposals in response to a global tender quoting the lowest amount. He said that the ministry is holding discussions to avoid similar problem in the future.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Agriculture Inputs Company Limited has confiscated the deposit of Shailung Enterprises for its failure to import the fertilizer.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12924',
			'article_category_id' => '1',
			'title' => 'NEA Submits Proposal to Sell Electricity to India',
			'sub_title' => '',
			'summary' => 'January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India’s NTPC Vidyut Vyapar Nigam (NVVN) on behalf of BRPL company.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">January 11: Nepal Electricity Authority (NEA) has submitted proposal to sell electricity to India in response to a tender issued by India&rsquo;s </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">NTPC Vidyut Vyapar Nigam (NVVN) on behalf of </span></span><span style="font-size:12.0pt"><span style="font-family:Arial">BRPL company.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The Electricity Regulation Commission last Monday gave permission to the NEA to take part in the bidding process. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Following the green signal from the commission, NEA submitted the proposal. NEA has proposed to provide 25 megawatts of electricity for four months from June to September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Spokesperson for the NEA Madan Timsina confirmed that the state-owned utility submitted proposals last week after getting the nod from the commission.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">Currently, NEA has been purchasing electricity from India through Tanakpur at the rate of Rs 6.62 (IRs 4.14) per unit. NEA has quoted the same rate in its proposal, informed spokesperson Timsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">&ldquo;There will be additional charges for transmission line. But we have quoted the same rate that we have been purchasing as the base rate in our proposal,&rdquo; he added. Timsina added that the bidder will be selected on the basis of open competition.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">The last date for submission of proposals was January 10. NEA said it submitted the proposal well ahead of the deadline.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:12.0pt"><span style="font-family:Arial">This is the first time that the NEA is making its attempt to sell electricity outside Nepal. Although NEA has been exporting electricity to India since the last few years on the basis of power exchange, but it is yet to enter the commercial market.</span></span></span></span></p>
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			'id' => '12923',
			'article_category_id' => '1',
			'title' => 'Government Unlikely to Extend Deadline for Submission of Income Details',
			'sub_title' => '',
			'summary' => 'January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has indicated that it would not extend the deadline for submission of income tax details despite request from the private sector citing the coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Private sector stakeholders including the Federation of Nepalese Chamber of Commerce and Industries (FNCCI) and the Confederation of Nepalese Industries (CNI) had requested the government to extend the deadline for submission of income tax details stating that it would be difficult for them to do so within the deadline of January 13. However the government has shown little interest toward the request made by the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Inland Revenue Department informed that the Ministry of Finance has not taken any decision regarding deadline extension and therefore it his unlikely that the demands of the private sector will be addressed.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Deputy Director General of the IRD, the revenue collection in the current fiscal year stands at only Rs 8 billion so far. Pandey informed that there isn&rsquo;t any difference in the number of individuals submitting details this year compared to last fiscal year. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Demanding deadline extension is understandable. But the industries and entrepreneurs have been submitting income details despite their demand,&rdquo; said Pandey.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A high-ranking official at the Revenue Department of Finance Ministry informed that the ministry has not discussed the issue of deadline extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;Now, the excuse of coronavirus is no longer relevant. There isn&rsquo;t any preparation to extend the deadline,&rdquo; said the official requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the anyone who doesn&rsquo;t submit the income details within the given deadline will have to pay fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also denied deadline extension for company registration. The officials have urged one and all not to make any further delay in fulfilling their obligations.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">There is a provision for industries and entrepreneurs to submit the income details within mid-October before they pay their income tax of previous fiscal year. If the miss the initial deadline, they can submit it within mid-January after taking permission from the concerned government office. However, the private sector has been arguing that they have not been able to prepare their audit report because most of the auditors are unavailable due to Covid-19 infection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CNI Chairman Satish Kumar More said that they have requested the government to extend the deadline for submission of income details as they are unable to complete their internal audit. He added that they had requested for additional time as some industries are on the verge of closure due to coronavirus.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;In the past, industries and entrepreneurs had been&nbsp; submitting the income details on time. But the system has been badly affected by coronavirus and therefore we have demanded more time,&rdquo; he said.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had asked the private sector to deposit tax time and again even during the lockdown period in last fiscal year. But the government later extended the time following heavy criticism from all quarters.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12921',
			'article_category_id' => '1',
			'title' => 'Udayapur Cement Industry to Increase its Production Capacity ',
			'sub_title' => '',
			'summary' => 'January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers.',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 11: Preparations are underway to increase the production capacity of Udayapur Cement Industry, which has failed to take advantage of being among the top choice industry among the consumers. The industry, which is in loss of more than Rs 4 billion, aims to increase its current production capacity to 800 tons per day. At present, the industry is producing an average of 350 tons of cement daily. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">Newly-appointed General Manager Gopi Krishna Neupane, who has been in charge since Tuesday, said that there are problems including upgrading the 30 year-old factory with new technology, turning a factory in loss into a profitable company and regulating coal and gypsum import. However, he said that they are preparing strategies to resolve the problems by increasing production capacity to compensate for the loss. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">He said that the industry, which has already established its name and has high demand, now has to compete with the private sector as well. Therefore, the industry has realized the need for immediate, medium and long-term strategies. &ldquo;Even if we produce 800 tons of cement from the stock of limestone that we have, it will be enough for 300 years,&rdquo; Neupane said, adding, &ldquo;The goal is to make the best use of this resource and to supply quality products to the consumers by competing with the private sector.&rdquo; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">As per the decision of the Council of Ministers a few days ago, the government is ready to give Neupane a tenure of up to four years if he can make the industry profitable. The industry is also preparing to make the price of Udayapur Cement, which is being sold in the market under Gaidachhap brand, competitive. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12920',
			'article_category_id' => '1',
			'title' => 'Government Extends Deadline for Renewal of Private Firms’ License',
			'sub_title' => '',
			'summary' => 'January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 11: The government has extended the deadline for renewal of license of private firm till April 2 considering the impact of Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry of Industry Commerce and Supplies amended the Private Firm Registration (13<sup>th</sup> amendment) Regulation 2077 to extend the deadline so that the firms that were unable to renew their license since last March can complete the renewal process.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The private sector had requested the government to extend the deadline for renewal of private firms&rsquo; license stating that they were unable to do so due to the lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Amending the regulation, the ministry decided to allow the firms to renew their license without any late fee or fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Ministry has already directed the Department of Industry, Supplies and Consumer Protection in this regard, informed Shiva Raj Sedhai, spokesperson for the department.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has also decided to renew the license of firms that have failed to do so since the last 34 years, provided that they furnish clarification for the reason behind not renewing their license.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The ministry said in a directive that firms that have not renewed their license since 1985 will be allowed to renew it after paying a certain amount of fine.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Altogether 500,000 firms were registered with the department in 1985. Spokesperson Sedhai informed that only less than half of them have been regularly renewing their license.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12919',
			'article_category_id' => '1',
			'title' => 'Domestic Products of Nepal Unable to Compete in Int’l Market due to High Transportation Cost',
			'sub_title' => '',
			'summary' => 'January 11: Nepali entrepreneurs complain that domestic products cannot compete in  international market due to the high transportation costs for overseas trade.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">January 11: Nepali entrepreneurs complain that domestic products cannot compete in&nbsp; international market due to the high transportation costs for overseas trade. They informed that the production cost has increased after the shipping companies started charging fares arbitrarily.<br />
A year and a half ago, the government had implemented a direct transshipment system in Indian seaports with the motive of reducing the transportation cost for foreign trade by half. However, Nepali entrepreneurs inform that the expenses have increased instead.<br />
For overseas trade, native traders of the coastal countries pay 5 to 10 percent for transportation costs. Ashok Temani, former chairman of the Transport and Transit Committee of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), argues that Nepali entrepreneurs have to pay up to 40 percent of such expenses.<br />
Government authorities estimate that the cost of transit for a landlocked country is normally 20 percent higher than for a coastal country. </span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt">Nepali entrepreneurs say that they are not in a position to compete in the international market because they have to incur an additional 40 percent for transportation cost.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12918',
			'article_category_id' => '1',
			'title' => 'Finance Minister Urges Local Units to Properly Utilize Development Budget',
			'sub_title' => '',
			'summary' => 'January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">January 10: Finance Minister Bishnu Poudel has urged Nepal Municipal Association and the Federation of National Rural Municipalities to give special emphasis to increase capital expenditure at local units.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The finance minister made such request to the chairman of the Nepal Municipal Association Ashok Kumar Byanju and the chairman of the Federation of National Rural Municipalities Hom Narayan Shrestha during a meeting held at the Ministry of Finance on Sunday (January 9). </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The local levels have been unable to spend Rs 126 billion so far in the current fiscal year. Finance Minister Poudel urged the representatives of the local units to spend the budget for further development.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also urged them to support the families that have been badly affected by Covid-19. He also told the people&rsquo;s representatives to make the Prime Minister&rsquo;s Employment Programme more effective.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Finance Minister Poudel also discussed the issue of land-related problems with Byanju and Shrestha in the presence of Shiva Maya Tumbahamfe, minister for Land Management, Cooperatives and Poverty Alleviation. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The Commission for Resolving Land Disputes has signed agreements with 193 local units in 4 districts. Minister Tumbahamfe informed that the commission will sign agreements with other local units and initiate its work to resolve land-related disputes. Minister Poudel, meanwhile, said that the land issue will be resolved in coordination between the federal, provincial and local governments.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Minister Tumbahamfe said that all development works take place at the local levels and therefore they should pay special attention towards it. </span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12917',
			'article_category_id' => '1',
			'title' => 'Government  to Release Rs 6.6 Billion for Implementing Programmes at the Discretion of Former MPs',
			'sub_title' => '',
			'summary' => 'January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Although the government has dissolved the House of Representatives, more than Rs 6 billion is to be spent at the discretion of lawmakers of the dissolved house.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Prime Minister KP Sharma Oli had dissolved the lower house due to internal rift within the ruling Nepal Communist Party (NCP). But preparations are underway to utilize the budget of Rs 6.6 billion allocated for the Local Infrastructure Development Programme under which the amount is to be spent by the lawmakers at their discretion.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Ministry of Finance, although there are no lawmakers at the House of Representatives at the moment, the programme will go ahead as it has already been included in the annual budget.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Officials at the ministry say that the government has to take a new decision to halt the programmes included in the budget. They argue that the budget has already been endorsed by the parliament and therefore the Council of Ministers need to issue a new order to halt its progress.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government had issued a work procedure and regulations to implement the programme after the festival of Dashain. In previous years, lawmakers were free to decide whether to spend the budget in road, infrastructure, drinking water, schools or other projects. However, this year, the government had amended the regulation that included a provision for the lawmakers to select the projects on the basis of priority. As per the work procedure, lawmakers had selected the health sector as first priority.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The projects have been selected last month and most of the lawmakers choose health sector as per the new regulation,&rdquo; said joint secretary Dilli Ram Panthi.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He says that the finance ministry is ready to release budget for those programmes.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12916',
			'article_category_id' => '1',
			'title' => 'Tourism Revival Task Force Remains Inactive ',
			'sub_title' => '',
			'summary' => 'January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: The Tourism Revival Task Force, which was formed about three months ago with the objective of revitalizing the tourism industry that has been badly affected by Covid-19, has remained inactive till date. The task force comprises of representatives from the government and the private sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the eve of World Tourism Day in public private partnership model for playing an active and resulted-oriented role.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The task force was formed on the initiative of the Ministry of Culture, Tourism and Civil Aviation. It had announced to revitalize the tourism industry by promoting domestic tourism.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">At the time of the formation of the task force, it was said that the task force would coordinate between the policy makers, stakeholders and other concerned bodies for effective communication between them and also to create a trust among all stakeholders. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The then Tourism Minister Yogesh Bhattarai had taken the initiative to set up the task force with the concept of promoting domestic tourism. But the task force has not been able to work effectively ever since it was established.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders say that the task force has not been able to perform as per the expectations because the government is engaged in political crisis and the private sector is in a wait and watch situation.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Coordinator of the task force Deepak Raj Joshi, who is also the CEO of Nepal Tourism Board, said that they have not been able to work effectively due to lack of coordination with the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He however claimed that the task force has already prepared a work plan for the promotion of tourism and presented to the ministry.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;The year 2020 came to an end while we were busy announcing programmes and preparing the work plan. Now that all sectors have been gradually reopening, we are currently holding discussions with stakeholders regarding how to involve domestic and foreign tourists in the country in tourism-related activities in a safe and secure environment,&rdquo; said Joshi, adding, &ldquo;As we are in the discussing phase, we are not expecting results anytime soon.&rdquo;</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He was of the view that an integrated effort is required to revive the tourism industry that has been badly affected by Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CEO of Nepal Chapter of Pacific Asia Travel Association (PATA) Suresh Singh Budha informed that newly-appointed Tourism Minister Bhanu Bhakta Dhakal had called a meeting of stakeholders to discuss the issues related to tourism on Sunday (January 9). </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">During the discussion, tourism entrepreneurs said that the foreign tourists were not hesitant to visit Nepal due to the safety standards adopted by the airline companies and also due to language barrier.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government has already reopened the hotel industry, international flights, tourism and trekking industry in order to increase tourism activities.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The World Tourism Council had stated in 2019 that the contribution of the tourism industry to Nepal&rsquo;s GDP was 6.7 percent while it created around 1.1 million employment.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12915',
			'article_category_id' => '1',
			'title' => '‘Artificial Shortage’ of Edible Oil in the Market',
			'sub_title' => '',
			'summary' => 'January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 10: Artificial shortage of edible oil is reportedly on the rise with the increase in in its price. Big industries and businessmen as well as middlemen are believed to have created artificial shortage of oil taking advantage of political instability in the country and the increase in price of raw materials of oil in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Stakeholders have accused the big businessmen of causing artificial shortage and then selling the oil at high price. According to the Retail Business Association, the price of edible oil has been increasing steadily since August/September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of soybean oil has increased by almost 50 percent since late August. After the increment, soybean oil is now being sold at Rs 225 per litre. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Mustard oil of Dhara brand, which used to cost Rs 220 per litre, has increased by 18 percent and is not being sold at Rs 250 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of sunflower oil has increased by 29 percent. Sunflower oil used to be sold at Rs 180 per litre before August. The new price is now Rs 210 per litre.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of Retail Business Association Raj Kumar Shrestha informed that big industries increased the price of edible oil all of a sudden citing an increase in price of raw materials in the international market.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shrestha claimed that an artificial shortage of soybean and sunflower oil has been created in the market in collusion between industrialists, middlemen and big businessmen involved in this trade. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">&ldquo;It is difficult to find soybean and sunflower oil in the market,&rdquo; said Shrestha.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Industrialists and businessmen have been exporting edible oil to India in large quantities at the moment. It is also one of the reasons for the shortage of oil in the domestic market of Nepal. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">It has been learnt that the industrialists are more interested to sell their products in India because the Indian businessmen pay in cash while the local dealers purchase oil in credit.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Consumers have been at the receiving end as edible oil of the same brand is different prices labeled in different shops. Although the retail price of Dhara mustard oil is said to be Rs 250 per litre, the retailers have been found selling the product for Rs 260.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the Consumer Right Investigation Forum (CRIF), the market is in crisis because the government monitoring team and mechanism have become business-oriented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of CRIF Madhav Timilsina says that the government authorities who have been&nbsp; authorized to regulate the market call the people involved in black marketing and discuss the issue with them instead of taking action. This trend has caused further chaos, says Timilsina.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Meanwhile, officials at the Department of Industrial Supplies and Consumer Protection say that it is a regular process to call the businessmen for discussion and take action if necessary.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12914',
			'article_category_id' => '1',
			'title' => 'CNI Urges Government to Extend Deadline for Submission of Income Tax Details',
			'sub_title' => '',
			'summary' => 'January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">January 10: The Confederation of Nepalese Industries has urged the government to further extend the deadline for submitting income tax details and registration update till mid-April.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman of CNI Satish Kumar More made such request for deadline extension with government authorities during a recent meeting, according to the state-owned national news agency (RSS).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Chairman More argued that they have been abiding by their duty in the previous years but most of the businesses and companies have been badly affected by the COVID-19 pandemic since the last ten months. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">In such a context, there can be no alternative than to extend the deadline, RSS quoted Chairman More as saying. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the CNI, many business and industries are yet to resume normal activities but are on their way to recovery. Chairman More stated that many of them are yet to complete their audit report due to the pandemic and therefore urged the government to extend the deadline till mid-April (end of Nepali calendar year).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">He added that CNI is committed to ensure that the businesses associated with it submit the tax details to help the government attain its target.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the income tax act, the estimated income tax details should be submitted to the concerned department within mid-January ever year.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12913',
			'article_category_id' => '1',
			'title' => 'Hotels in Himalayan Region ‘Resume’ Operation',
			'sub_title' => '',
			'summary' => 'January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria">January 8: Hotels in some Himalayan region have resumed hospitality service after no recent cases of Covid-19 were reported in those areas.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Although arrival of foreign tourists has come to a halt, the hotels in those areas have shifted their focus to domestic tourists.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Stakeholders say many such hotels and lodges in high Himalayan areas have started regular business. </span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">According to the chairman of Hotel and Tourism Entrepreneurs Association of Rasuwa, Ram Sharan Gajurel, around 200 hotels and lodges from Dhunche to Lantang area as well as Gosainkunda, Rasuwagadhi, Helambu, Dadepati among other areas have resumed operation.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">He added that Rasuwa district has not been much affected by Covid-19 and therefore hotels as well as schools have reopened in the region.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">The impact of Covid-19 had rendered 70 guides and more than 400 workers jobless in the region. They are now hopeful of revival of tourism industry.</span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">Tourism entrepreneurs say that Covid-19 has caused more trouble to the industry than the Maoist insurgency and the devastating earthquake of 2015.</span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12912',
			'article_category_id' => '1',
			'title' => 'Bhairahawa SEZ unable to Operate Fully  Even in 2 Decades ',
			'sub_title' => '',
			'summary' => 'January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. ',
			'content' => '<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">January 8: The Special Economic Zone (SEZ) established in Bhairahawa with the objective of increasing trade, export, and creating employment has not been fully operational even after 20 years of setting up the facility. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Industrialists complain that the SEZ that has been inaugurated twice still lacks infrastructure and some legal provisions have prevented it from coming into operation. However, the government has been saying that it will leave no stone unturned for infrastructure development.</span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Initially, industrialists were not willing to set up factories at the Bhairahawa SEZ due to the provision to export 80 percent of the manufactured goods. Even after the SEZ Act was amended to allow 60 percent export, it has not been able to attract industrialists. They complain that the provision of exporting 60 percent goods is too much and the rent of the land fixed by the SEZ is also expensive. The rental charge that was Rs 150 per square meter during the time of amendment has been reduced to Rs 20 per square meter. The businessmen have been saying this is also expensive. </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">In a virtual meeting organised by the Society of Economic Journalist (SEJON) on Thursday regarding the special economic zone and current situation, stakeholders have stressed on the need to create a favorable environment by removing the policy hurdles in the SEZ as it has not been fully operational even in 20 years.&nbsp; </span></span></span></span></p>

<p><span style="font-size:11pt"><span style="font-family:Calibri"><span style="font-size:12.0pt"><span style="font-family:&quot;Times New Roman&quot;">Former vice president of the National Planning Commission Dr Shankar Sharma said that the future of other SEZs is uncertain as SEZ has not been able to operate for a long time. He stressed on the need to operate SEZ by easing export criteria. </span></span></span></span></p>
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		'Article' => array(
			'id' => '12911',
			'article_category_id' => '1',
			'title' => 'NRB Tells Banks to Open Counters on Saturday for Revenue Collection',
			'sub_title' => '',
			'summary' => 'anuary 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">January 8: Nepal Rastra Bank (NRB) has instructed banks and financial institutions (BFIs) to remain open on Saturday, January 9.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued such directive to the Nepal Clearing House Limited as well as branches and counters of bank that are involved in the government&rsquo;s revenue collection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank issued a notice on Thursday (January 7) instructing the BFIs to open their branches and counters for revenue collection in the first six months of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:&quot;Times&quot;,&quot;serif&quot;"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Nepal Rastra Bank has said that the tax payment can be done at the branches and counters and also through electronic means using the Real Time Gross Settlement (RGTS) system. Prior to this, revenue collection had to be done during office time but now the electronic payment system has also been added for the convenience of the taxpayers.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12910',
			'article_category_id' => '1',
			'title' => 'SEBON Preparing for Stock Market Clearance and Settlement in Two Days',
			'sub_title' => '',
			'summary' => 'anuary 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">January 8: The Securities Board of Nepal (SEBON) is making preparations to reduce the time of clearing and settlement process of stock market from three to two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is making preparations to implement the new provision, which has been included in the policies and programmes of the government for the current fiscal year, from the month of Magh (January 14).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairman of SEBON Bhishma Raj Dhungana informed that they are preparing to amend the existing regulation so that the stock market clearance is done within two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Dhungana said that they will most likely amend the regulation within January 13 and then direct the CDS and Clearing Limited to implement the decision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">He added that it has become necessary to make the stock market clearance and settlement fast and effective as the stock market has already gone digital. According to Dhungana, there is no need for the customers to reach the office of the broker to transfer the share. The brokers can also transfer money through IPS now. Therefore, the board expects no problem in implementing this new provision.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">SEBON is preparing to implement the new provision after conducting a detailed study on whether the two-day settlement is viable in the context of Nepal&rsquo;s stock market or not.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">A committee formed to study the prospect of two-day settlement and clearance had also recommended to reduce the time for the settlement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">CDS and Clearing Limited, which has been involved in stock market clearance and settlement, has already prepared a modality for the settlement in two days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As per the existing provision, any individual selling their share are entitled to receive the amount of their share within three days while the buyer must also get the share within three days.</span></span></span></span></p>

<p>&nbsp;</p>
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FOREX

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)

Bullion

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

Petroleum

Petrol	1 Liter	106.00
Diesel	1 Liter	95.00
Kerosene	1 Liter	95.00
LP Gas	1 Cylinder	1375.00