NEWS

Covid-19 Insurance Claim Amount Exceeds Premium Collection

Dec 15, 2020 0 1 minutes 49 seconds to read

December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance…

Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize

Dec 15, 2020 0 3 minutes 9 seconds to read

December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to…

Export to China Halted since a Year

Dec 15, 2020 0 2 minutes 28 seconds to read

December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by…

Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal

Dec 15, 2020 0 3 minutes 17 seconds to read

December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring…

Price of Gold Drops Marginally

Dec 15, 2020 0 55 seconds to read

December 15: The price of gold has declined marginally on Tuesday (December 15).…

Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track

Dec 14, 2020 0 3 minutes 1 seconds to read

December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural…

Nepal Makes Marginal Progress in HDI

Dec 14, 2020 0 3 minutes 28 seconds to read

December 14: Nepal has made minimal progress in Human Development Index, according to the Human Development Report 2020 prepared by the United Nations Development…

Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers

Dec 14, 2020 0 4 minutes 19 seconds to read

December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata…

High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business

Dec 14, 2020 0 2 minutes 59 seconds to read

December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to…

Department of Roads Terminates Contracts of 13 Defaulting Contractors

Dec 14, 2020 0 56 seconds to read

December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two…

India Positive about Nepal Exporting Electricity to Bangladesh

Dec 13, 2020 0 2 minutes 8 seconds to read

December 13: India has pledged to support Nepal in exporting electricity to the international market through its…

Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender

Dec 13, 2020 0 2 minutes 22 seconds to read

December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign…

NAC Unable to Decide the Fate of Grounded Aircraft

Dec 13, 2020 0 4 minutes 1 seconds to read

December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July…

NOC Hikes Prices of Petroleum Products

Dec 13, 2020 0 1 minutes 24 seconds to read

December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum…

China's Proposes Rebuilding Araniko Highway

Dec 13, 2020 0 2 minutes 8 seconds to read

December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China.…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
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NEPSE

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			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'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;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span 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 data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span 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 collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span 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 association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance policy.</span></span></span></span></p>

<p><span 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 insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'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;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high at the moment.</span></span></span></span></p>

<p><span 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 decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing 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;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span 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;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span 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;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span 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;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&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;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'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;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </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;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </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 the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </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;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </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 although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&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;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'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;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span 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;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span 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 Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span 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 chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'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;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span 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 Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span 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 silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'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;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span 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 army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span 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 army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span 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 selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span 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 Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span 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 major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span 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 delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span 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 army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span 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 Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'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;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span 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 report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span 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 report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span 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 report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span 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 Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span 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 report also states that there is a stark difference in human development among urban areas and rural areas 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;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span 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;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&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;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'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;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span 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;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span 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;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span 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;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'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;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business 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;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first 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;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span 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 Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span 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 business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 10 => array(
		'Article' => array(
			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'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;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span 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;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&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;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to 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;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'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;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span 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 Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span 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 department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span 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 department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by 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;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding 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;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'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;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</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:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</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:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span 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 state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</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:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </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:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </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:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</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:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</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:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </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:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'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;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span 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 data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span 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 collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span 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 association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance policy.</span></span></span></span></p>

<p><span 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 insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'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;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high at the moment.</span></span></span></span></p>

<p><span 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 decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing 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;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span 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;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span 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;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span 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;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&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;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12806',
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			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'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;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </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;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </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 the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </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;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </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 although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&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;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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			'description' => '',
			'sortorder' => '12553',
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	(int) 3 => array(
		'Article' => array(
			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'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;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span 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;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span 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 Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span 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 chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'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;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span 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 Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span 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 silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
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			'article_date' => '2020-12-15 12:03:53',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'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;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span 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 army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span 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 army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span 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 selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span 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 Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span 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 major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span 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 delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span 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 army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span 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 Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'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;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span 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 report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span 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 report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span 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 report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span 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 Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span 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 report also states that there is a stark difference in human development among urban areas and rural areas 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;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span 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;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&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;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'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;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span 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;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span 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;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span 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;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'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;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business 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;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first 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;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span 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 Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span 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 business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'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;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span 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;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&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;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to 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;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'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;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span 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 Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span 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 department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span 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 department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by 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;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding 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;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'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;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</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:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</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:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span 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 state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</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:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </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:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </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:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</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:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</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:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </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:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'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;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span 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 data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span 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 collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span 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 association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance policy.</span></span></span></span></p>

<p><span 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 insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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		'Article' => array(
			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'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;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high at the moment.</span></span></span></span></p>

<p><span 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 decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing 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;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span 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;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span 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;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span 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;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&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;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12806',
			'article_category_id' => '1',
			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'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;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </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;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </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 the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </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;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </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 although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&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;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12805',
			'article_category_id' => '1',
			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'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;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span 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;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span 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 Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span 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 chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'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;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span 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 Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span 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 silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'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;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span 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 army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span 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 army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span 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 selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span 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 Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span 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 major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span 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 delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span 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 army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span 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 Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'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;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span 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 report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span 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 report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span 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 report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span 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 Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span 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 report also states that there is a stark difference in human development among urban areas and rural areas 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;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span 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;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&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;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'description' => '',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'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;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span 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;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span 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;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span 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;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'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;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business 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;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first 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;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span 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 Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span 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 business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'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;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span 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;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&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;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to 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;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'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;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span 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 Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span 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 department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span 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 department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by 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;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding 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;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'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;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</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:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</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:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span 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 state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12794',
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			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</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:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </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:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </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:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</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:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</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:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12796',
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			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </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:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12808',
			'article_category_id' => '1',
			'title' => 'Covid-19 Insurance Claim Amount Exceeds Premium Collection',
			'sub_title' => '',
			'summary' => 'December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium.',
			'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;">December 15: The insurance claim amount for Covid-19 Insurance Policy has exceeded the insurance premium. Of late, the number of people purchasing the Covid-19 insurance policy is getting less while the number of people claiming settlement amount has been increasing. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Non-life insurance companies have expedited the process of claim settlement as per the government&rsquo;s directive. As a result, the number of claims settlements has increased significantly.</span></span></span></span></p>

<p><span 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 data provided by Nepal Insurers Association, so far the insurance companies have collected insurance premium worth Rs 990 million. The association informed that the insurance companies have already settled claims by compensating the claimants with Rs 1.29 billion rupees. Altogether 10,565 persons have claimed the amount, according to the association.</span></span></span></span></p>

<p><span 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 collection of insurance premium has declined due to news regarding the delay in claims settlement. However, the claimants are increasing day by day,&rdquo; said Chankey Chhetri, spokesperson of Nepal Insurers Association.</span></span></span></span></p>

<p><span 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 association, they are yet to compensate the claimants with billions of rupees. Data maintained by the association show that more than Rs 3 billion is due for compensating 31,236 beneficiaries who had purchased the insurance policy.</span></span></span></span></p>

<p><span 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 insurance companies say that they have expedited the process of claims settlement following instructions from the Ministry of Finance.</span></span></span></span></p>
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			'id' => '12807',
			'article_category_id' => '1',
			'title' => 'Concept of Mixing 10 Percent Ethanol in Petrol Fails to Materialize',
			'sub_title' => '',
			'summary' => 'December 15: The government’s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize.',
			'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;">December 15: The government&rsquo;s plan to distribute petrol by mixing 10 percent ethanol has failed to materialize. The concept was developed to reduce the cost factor, but the government has not taken any steps towards meeting the objective. It has been stated that the government is reluctant to take the initiative because the cost of petrol is not excessively high at the moment.</span></span></span></span></p>

<p><span 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 decided to mix 10 percent ethanol in petrol about 17 years ago. Nepal Oil Corporation made necessary preparations to implement the decision in 2014. However, the state-owned oil corporation said that the issue did not get priority due to problems in implementing 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;">The concept was also developed to promote domestic industries that produce ethanol. The plan if implemented would also promote eco-friendly fuel and decrease the country&rsquo;s dependency on import of petroleum products. But the NOC has not taken any steps towards implementing the decision, informed Binit Mani Upadhyay, spokesperson of NOC.</span></span></span></span></p>

<p><span 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;We are currently busy storing petroleum products. Our focus is also on petroleum pipeline. However, we do not have any immediate plans to mix ethanol in petrol,&rdquo; said Upadhyay.</span></span></span></span></p>

<p><span 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;NOC did not put this concept in priority after it was found that the plan would not be much cost effective practically,&rdquo; he added. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal imports petroleum products worth billions of rupees every year. The government developed the concept to mix ethanol in petrol to reduce the cost. At that time, the government had conceptualized to use the ethanol produced by the local sugar mills of the country. However, the sugar mills were not able to supply adequate amount of ethanol and the cost of transporting ethanol was not as cheap as expected. Therefore, the concept did not get any priority, said Upadhyay.</span></span></span></span></p>

<p><span 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;We had even set up a facility to store ethanol in Amlekhgunj. But later it was found that mixing ethanol would not reduce the cost factor and therefore it never fell in our priority list.&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;">Petrol is currently being imported at the rate of Rs 45 to Rs 50 per litre. The retail cost is high only because of taxes under different headings. Adding ethanol would make no difference to the cost factor, informed Upadhyay.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Countries like India, Canada, Brazil, the USA and some African as well as Asian countries have already started selling petrol by mixing ethanol. </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12806',
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			'title' => 'Export to China Halted since a Year ',
			'sub_title' => '',
			'summary' => 'December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China.',
			'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;">December 15: Export of Nepali goods to China have been halted for the past one year due to the closure of border by China. Businessmen say that the export from the northern border points of Nepal has been completely stopped even though some goods are exported to China through chartered planes and via Indian ports. </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;">Nepal exports materials like handicrafts, carpets and other products to China. Last year, after the emergence of Covid-19 cases in China, the Nepali side had themselves stopped the trade through the border. </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 the coronavirus spread globally, China closed the border. Since then, the border has not been opened although the businessmen have repeatedly urged the government to take initiative to open the checkpoint. As per the agreement reached between Nepal-China commerce secretaries in last May, the import has been partially opened but the export is still closed. </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;">&nbsp;At present, the Chinese side is delivering a maximum of five containers of goods to the border daily, while Nepali containers are strictly prohibited from crossing the border. President of Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel said that Nepali products have not been able to find a market due to the closure of the border checkpoint and some businessmen are contemplating to give up their business. </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 although the association has urged the government to take initiative to open the border several times, there hasn&rsquo;t been any progress. He said, &ldquo;Currently, five containers are barely coming through the customs point from where 100 containers of goods used to be imported daily.&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;">Lepsang Sherpa, secretary of the association and a Nepal-China bilateral trader, said that they are looking for alternatives to the Chinese market. He said there were various problems in exporting goods to China even under normal circumstances. According to him, there is a problem in export due to the monopoly of Chinese traders. He said that only Chinese-licensed traders could supply goods and export could not meet the demand even though there is a market. </span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Nepali Delegation to Visit B’desh to Finalize Fertilizer Import Deal ',
			'sub_title' => '',
			'summary' => 'December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.',
			'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;">December 15: A team from the Agriculture Inputs Company Limited is preparing to visit Bangladesh to finalize a deal to procure 50,000 metric tons of urea under G2G deal with the neighbouring country.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Spokesperson at the Ministry of Agriculture and Livestock Development Dr Hari Bahadur KC confirmed that the team representing the Agriculture Inputs Company Limited is preparing to leave for Bangladesh in this regard. According to Dr KC, the team will sign an agreement and also discuss other issues in Bangladesh.</span></span></span></span></p>

<p><span 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;We are currently in the process of acquiring visa. Our team will leave for Bangladesh by this Tuesday or Wednesday,&rdquo; said Netra Bhandari, director of the state-owned Agriculture Inputs Company Limited.</span></span></span></span></p>

<p><span 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 Director Bhandari, the team is scheduled to sign a deal on the next day upon landing in Bangladesh. The company will then open a Letter of Credit after the deal is finalized, informed Bhandari.</span></span></span></span></p>

<p><span 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 chemical fertilizer will arrive at the border within 20 days after the company hands gives the green signal to bring the urea to the contractor selected through a global tender.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bangladesh will release the fertilizer from Chatgaun Port while Zen Trade Company will transport the fertilizers to 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;">Two companies &ndash; Shailung Enterprises and Honiko Multiple &ndash; that had been earlier awarded the contracts to import urea during the plantation season failed to bring the fertilizer on time citing coronavirus pandemic for the delay. After repeated failure to bring the fertilizer on time, the government decided to borrow urea from Bangladesh. However, Bangladesh declined to send the fertilizers in the last minute. The government then decided to sign an G2G deal with Bangladesh to import the fertilizer.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Shailung is still in the process of importing 25,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 informed that it has a stock of 22,000 metric tons of urea and 9,000 metric tons of potassium. The company is in the process of importing 30,000 metric tons of urea while it is currently distributing 20,000 metric tons of DAP.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Similarly, the Salt Trading Corporation has a stock of 16,000 metric tons of DAP and 18,000 metric tons of urea.</span></span></span></span></p>

<p><span 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 company informed that the fertilizer from Bangladesh will be sufficient to meet the demand for the winter crop. </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12804',
			'article_category_id' => '1',
			'title' => 'Price of Gold Drops Marginally ',
			'sub_title' => '',
			'summary' => 'December 15: The price of gold has declined marginally on Tuesday (December 15). ',
			'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;">December 15: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The price of gold has declined marginally on Tuesday (December 15). On Monday, the price of gold fell by Rs 100 per tola (11 grams approx.) while it dropped by the same margin on Tuesday.</span></span></span></span></p>

<p><span 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 Federation of Nepalese Gold and&nbsp; Silver Dealers Association, fine gold is being sold for Rs 92,300 per 11 grams on Tuesday.</span></span></span></span></p>

<p><span 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 silver remained stable on Tuesday. A day ago, the price of silver had dropped by Rs 200 per 11 grams. Silver is being traded for Rs 1200 per 11 grams on Tuesday.</span></span></span></span></p>

<p>&nbsp;</p>
',
			'published' => true,
			'created' => '2020-12-15',
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			'description' => '',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12802',
			'article_category_id' => '1',
			'title' => 'Covid-19 Pandemic Delays Construction of Kathmandu-Tarai Fast Track',
			'sub_title' => '',
			'summary' => 'December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay.',
			'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;">December 14: The timeframe to start construction of tunnels and complex bridges along the Kathmandu-Tarai Fast Track has been further extended due to procedural delay. The Nepalese Army, which has been handed over the contract to oversee the construction of the fast track, informed that the construction will begin within upcoming summer (May)&nbsp; till the end of current fiscal year. The army has stated procedural hassles for the delay in starting construction.</span></span></span></span></p>

<p><span 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 army was earlier planning to start the construction from mid-December as per its holistic plan. </span></span></span></span></p>

<p><span 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 army claimed that the impact of coronavirus and lockdown affected the project as they could not finalize national and international consultant companies the construction of tunnels and bridges. However, the army said it has already started evaluation for selecting international construction company for the construction of tunnels.</span></span></span></span></p>

<p><span 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 selection will be completed within December. The Nepalese Army is preparing to sign an agreement with the foreign companies within the next three months after the selection is finalized.</span></span></span></span></p>

<p><span 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 Nepalese Army has itself completed 88 percent of works to open the track of the 72.5 kilometer fast track.</span></span></span></span></p>

<p><span 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 major works that are still pending include construction of three tunnels and 16 complex bridges.</span></span></span></span></p>

<p><span 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 delay in work progress has also increased the cost of the project. A total of 17 kilometers of the fast track comprises of tunnels and bridges. These are the infrastructures where the maximum amount of budget is required.</span></span></span></span></p>

<p><span 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 army has so far spent a budget of Rs 15.66 billion for the project. The total cost of the project is estimated to be 175 billion, according to the detailed project report.</span></span></span></span></p>

<p><span 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 Nepalese Army was handed the responsibility of the fast track three years ago as per the decision taken by the Council of Ministers on May 4, 2017.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Although army has been carrying out the construction work, it took almost two years for the DPR to be approved by the government. Army&rsquo;s spokesperson Santosh Ballav Poudel says that the construction has not been able to gain pace due to coronavirus pandemic.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12801',
			'article_category_id' => '1',
			'title' => 'Nepal Makes Marginal Progress in HDI',
			'sub_title' => '',
			'summary' => 'December 14: Nepal has made minimal progress in Human Development Index, according to the Human  Development Report 2020 prepared by the United Nations Development Programme.',
			'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;">December 14: Nepal has made minimal progress in Human Development Index, according to the Human&nbsp; Development Report 2020 prepared by the United Nations Development Programme.</span></span></span></span></p>

<p><span 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 report says Nepal still has to make some improvements upgrade its status as a developing nation.</span></span></span></span></p>

<p><span 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 report unveiled by the UNDP on Sunday (December 13) states that Nepal has made some progress in HDI during 2019. According to the report, Nepal improved its ranking in the HDI by one step.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal currently lies in the mid-category among countries in terms of human development and needs to fulfill two criteria to upgrade its status from least developed country to developing country by 2022. The country needs to meet the requirement of per capital income, human capital index and financial risk index to upgrade its status. Except the per capital income, Nepal is likely to fulfill all other criteria by 2022.</span></span></span></span></p>

<p><span 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 report unveiled jointly by Finance Minister Bishnu Poudel and Vice Chairman of the National Planning Commission Dr Pushpa Raj Kandel states that Nepal&rsquo;s HDI Value during 2019 was 0.587. The HDI Value of Nepal in 2018 was 0.579.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Compared to 2018, Nepal made progress in education standard in 2019 although the average income and average age of Nepalis remained constant. This factor contributed in a marginal rise in Nepal&rsquo;s HDI. Nepal&rsquo; cannot progress into a developing nation unless there is improvement in per capita income.</span></span></span></span></p>

<p><span 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 Human Development Report 2020, the average age of Nepalis is 70.5 years. Nepal is ahead of Pakistan and Afghanistan in South Asia in terms of HDI.</span></span></span></span></p>

<p><span 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 report also states that there is a stark difference in human development among urban areas and rural areas 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;">The report points out to infrastructural and institutional hurdles, policies adopted by the country and other factors as major challenges for human development of Nepal. It suggests improving the standard of health and education as well as people&rsquo;s reach to health facilities and educational institutions.</span></span></span></span></p>

<p><span 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;Lack of sufficient health infrastructure and disruption in medical supplies pose further risk to people fighting against various diseases,&rdquo; states the report adding, &ldquo;Hundreds of thousands of students have been deprived of studying opportunity due to closure of schools.&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;">The report also suggests short-term, medium-term and long-term relief packages and economic revitalization of the country. Unveiling the report, Finance Minister Poudel said that the government will take into consideration the suggestions given by the report.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12800',
			'article_category_id' => '1',
			'title' => 'Kolkata Port Customs Officials Reluctant to Implement EDI System: Importers',
			'sub_title' => '',
			'summary' => 'December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port.',
			'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;">December 14: Electronic Date Interchange (EDI) system has been implemented since the last three months on goods imported to Nepal from third countries via Kolkata Port. Although the system was introduced to make the customs clearance process fast and transparent, the importers are yet to benefit from the scheme. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system is implemented for goods entering Nepal under the Customs Transit Declaration (CTD). It was said that the importers could complete all required procedures from their office for importing the goods using the EDI system. However, the importers complain that they have to be present at the customs office of the port in person to clear the goods. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">This system was made mandatory at Kolkata Port from late September to remove the hassles of paper works for transit of goods from third countries. This system was available before that period but was reportedly not implemented effectively due to the vested interests of the customs officials at the port.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that although the system is mandatory, they still have to go through the same old process. One of the importers complained that the completion of customs clearance process through online medium would deny the port customs officials from making under-the-table income and therefore they have not implemented it properly.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Indian authorities had made the new system mandatory for Nepal-bound goods. The system is fully implemented for goods imported by India for itself since before. But the customs officials are unwilling to implement it for Nepal-bound goods.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Most of the cargo entering Nepal from Kolkata have to undergo CTD. In the first eight months of 2020, a total of 34,000 Nepal-bound containers have arrived at the port.&nbsp; </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Among them, 23,400 containers entered Nepal through road way, according to Nepal Transshipment and Warehouse Management Company. CTD containers are also transported through railway. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers say that the is a provision to fill the form online for the Customs Transit Declaration. However they say they are still called to the port with all the files.</span></span></span></span></p>

<p><span 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;When there is no contact with the agent, the port customs officials cannot make unauthorized and illegal income. Therefore, they have not been complying with the system under various pretexts,&rdquo; said the importer requesting not to be named.</span></span></span></span></p>

<p><span 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;Some people working for the Nepali importers are also involved in it,&rdquo; added the source.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Under the CTD process, importers have to submit the bill of the goods, packing list, certificate of origin, and the certificate provided by the Kolkata-based consulate to the port. According to the customs house agent, all these documents can be submitted online if the EDI is implemented properly. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Consul General at&nbsp; Kolkata-based Consulate Ishwar Raj Poudel says that they are trying to resolve the problems related to this issue.</span></span></span></span></p>

<p><span 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;We are making efforts to make the EDI system fully automated,&rdquo; said Poudel.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepali importers have also suggested the consulate to make provisions to amend the mistakes and to change the route in EDI system.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 8 => array(
		'Article' => array(
			'id' => '12799',
			'article_category_id' => '1',
			'title' => 'High Rent and Lack of Business Forcing Entrepreneurs of Thamel to Close their Business',
			'sub_title' => '',
			'summary' => 'December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven’t returned back to their business due to coronavirus.',
			'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;">December 14: The shopkeepers and businessmen of Thamel, who had been operating in the tourist hub of Kathmandu since many years, haven&rsquo;t returned back to their business 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;">The shopkeepers had closed their shutters and left after their business was impacted by the pandemic. They have not yet resumed their business even after nine months since the lockdown was first 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;">More than 700 individuals operating hotels, restaurants, travel agencies, money exchange, handicraft shops among others were involved in brisk business in areas like Thamel, Paknajol, Chhetrapati, Kaldhara and Naradevi. But they were forced to abandon their business due to the impact of lockdown. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Vice Chairman of Thamel Tourism Development Council Bhabishwar Sharma says that the tourism entrepreneurs and businessmen have not resumed business considering that it would take some more time for the tourism industry to return back to normal business.</span></span></span></span></p>

<p><span 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 Sharma, although people related to other businesses have returned back in small numbers those involved in tourism sector are not in a position to return.</span></span></span></span></p>

<p><span 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 business is not good and the rent is too high. Therefore, the businessmen are not willing to resume their business at the moment. They are&nbsp; in a wait and watch mood,&rdquo; said Sharma.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Sharma informed that there are around 10,000 entrepreneurs involved in small to&nbsp; big businesses in Thamel area. Since it is the most vibrant area for tourism business, the rent here is exorbitantly high. The rental charge in Thamel area is anything between Rs 15,000 to Rs 4.5 million per month.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Bikash Lama, one of the entrerepeurs of Thamel, says there is no business and therefore the businessmen are not willing to return just to pay the costly rent.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">People involved in various businesses have closed their shops while there is no possibility for new businesses to flourish given the current situation. The landlords are unwilling to lower the rent. This has forced the businessmen to look for better and less costly alternatives to continue their business. Only a few landlords and business entrepreneurs have reportedly agreed to sign a deal to lower the rent while others are said to have shifted elsewhere.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 9 => array(
		'Article' => array(
			'id' => '12803',
			'article_category_id' => '1',
			'title' => 'Department of Roads Terminates Contracts of 13 Defaulting Contractors',
			'sub_title' => '',
			'summary' => 'December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 14: The Department of Roads, which has the highest number of defaulting projects, has terminated the contracts of 13 such projects within a duration of two years.<br />
The Commission for the Investigation of Abuse of Authority had identified 906 contract defaults under the department in its &#39;Study Management and Analysis Report of&nbsp;Contract Defaults 2075 BS made public two years ago.<br />
Although the number of contracts terminated is less, the department has improved settling the issues with the defaulting contractors. As per the first quarterly report of the department in the current fiscal year (FY) 2077/78, the number of contracts that have been resolved is 491 while the number of contract termination is 210.<br />
The report states that the number of issues settled is 98, and the number of projects handed over to the state and local levels is 170.<br />
The internal study of the Department of Roads shows that the number of projects that had their contract extended after the fiscal year 2066-67 is 1397. </span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12798',
			'article_category_id' => '1',
			'title' => 'India Positive about Nepal Exporting Electricity to Bangladesh ',
			'sub_title' => '',
			'summary' => 'December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory.',
			'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;">December 13: India has pledged to support Nepal in exporting electricity to the international market through its territory. Indian authorities said that they are planning to adopt a policy to allow Nepal export its electricity.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">India made such commitment during the Eighth Nepal India Secretary-Level Energy Meeting held virtually on Friday. The two sides also agreed to hold a secretary-level meeting involving Nepal, India and Bangladesh in this regard.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Nepal&rsquo;s Energy Secretary Dinesh Ghimire informed that the meeting has agreed to hold a tripartite meeting between secretaries of the three countries to clear the way for Nepal to sell its electricity to Bangladesh. It has been agreed that the foreign ministries of Nepal and India will make diplomatic efforts to call the meeting between the three countries.</span></span></span></span></p>

<p><span 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;India is positive about Nepal exporting electricity to Bangladesh through its territory. The matter will be finalized after a secretary-level meeting between the three countries,&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;">Nepal and India have been holding secretary-level meetings to implement the Power Trade Agreement (PTA) ever since signing the deal on October 21, 2014. The two countries have been holding the meeting on rotation basis. The latest meeting didn&rsquo;t have any new agenda but dwelt on progress review of the decisions taken in the past, according to 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;">Secretary Ghimire also informed that India was positive about energy banking between the two countries. During the previous meeting, India had pledged to amend its directives on import and export of electricity to incorporate the concept of energy banking between Nepal and India. However, India is yet to amend the directives.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12797',
			'article_category_id' => '1',
			'title' => 'Government Registers Motion to Vacate Court Order Regarding Excise Duty Tender',
			'sub_title' => '',
			'summary' => 'December 13: The government has registered a motion to vacate the Supreme Court’s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.',
			'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;">December 13: The government has registered a motion to vacate the Supreme Court&rsquo;s interim order that bars the Inland Revenue Department from handing the responsibility of printing excise duty stickers to foreign companies.</span></span></span></span></p>

<p><span 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 Office of the Attorney General registered the motion to vacate the order stating that the domestic companies are unable to guarantee the quality of excise duty stickers. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">In its reply to the Supreme Court, Director General of the Inland Revenue Department Binod Bahadur Kunwar argued that the department opted for including international companies for the bidding process to print the stickers after a study conducted by the IRD found that the domestic companies did not have the capacity to print quality excise duty stickers.</span></span></span></span></p>

<p><span 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 department had called for international tender bids on October 14 to print the excise duty stickers after the department started running out of stock.</span></span></span></span></p>

<p><span 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 department had given the deadline of November 29 to submit the proposals. On the final day of submission of the proposals, Mohan Raj Ghimire of Miraj Printing filed a petition at the Supreme Court against the tender process. A single bench of Justice Tej Bahadur KC then issued an interim order to stay the decision of the department. The apex court order effectively halted the process of tender undertaken by 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;">Nepali businessmen have accused the department of setting certain criteria in the tender which the domestic companies cannot meet. Therefore, they have been accusing the government of trying to award the contract to foreign companies by making it impossible for the local companies to compete in the bidding 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;">However, the department says that the Nepali companies do not have the expertise to print the stickers as per the government&rsquo;s requirement.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12795',
			'article_category_id' => '1',
			'title' => 'NAC Unable to Decide the Fate of Grounded Aircraft',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30.',
			'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;">December 13: Nepal Airlines Corporation has been unable to properly manage its six Chinese aircraft that have been grounded since July 30. The state-owned airline company is looking for alternatives after the Ministry of Finance said that it is the responsibility of NAC to properly manage the aircraft.</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:&quot;Arial Unicode MS&quot;">A board meeting of NAC decided to ground the Chinese aircraft after the company faced losses more Rs 5 billion while operating those aircraft during the last five years.</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:&quot;Arial Unicode MS&quot;">It has been more than four months since NAC took the decision to ground the aircraft but has failed to properly manage the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NAC board had written a letter to the Ministry of Culture, Tourism and Civil Aviation in July that it is not viable to operate the Chinese aircraft and had also requested the ministry to seek alternatives for the management of the aircraft. The tourism ministry sought advice from the finance ministry regarding this matter. The Ministry of Finance then informed that the NAC itself should be handed the responsibility of managing the aircraft.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">General Manager of NAC Dim Prasad Poudel says they are weighing various options for managing the grounded aircraft.</span></span></span></span></p>

<p><span 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 state-owned NAC is considering either to return the Y-12 E and MA-60 aircraft to AVIC International Holding Corporation or to issue tender notice for selling the aircraft. Renting the aircraft to other companies is also one of the options while the fourth alternative is to hand over the aircraft as down-payment while procuring new aircraft. NAC is coordinating with the tourism ministry for considering one of the four options for the management of the aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The flag carrier of Nepal had procured four Y-12 aircraft with seating capacity of 18 and two 56-seater MA-60 aircraft from a Chinese company in 2015. Among those aircraft, only one MA-60 and one Y-12 are in a condition to fly. The other MA-60 aircraft and two Y-12 were grounded since a long time. Another Y-12 met with an accident during a domestic flight. The aircraft were purchased with a concessional loan and grant of Rs 5.2 billion from China.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">The NAC board meeting concluded that it is not profitable to operate Chinese aircraft because of the cost factor. The insurance premium for these aircraft is 35 percent more than other aircraft while the pilots are not easily available. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">As the company has to produce the pilots itself, the cost becomes more expensive than operating Airbus 320, the board noted. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">Similarly, the spare parts of these aircraft are 75 percent more expensive that other aircraft. On the other hand, it takes a long time for delivery of the spare parts of these aircraft, said a source requesting anonymity.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">According to the NAC source, both the aircraft lack instructor pilots and the training for such aircraft costs four times higher than normal training.</span></span> <span style="font-size:15.0pt"><span style="font-family:Times">In the meantime, the fuel consumption of the Chinese aircraft is double than other aircraft.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:15.0pt"><span style="font-family:Times">NAC is planning to procure new aircraft for domestic flights but is unable to do so until it manages the grounded aircraft.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12794',
			'article_category_id' => '1',
			'title' => 'NOC Hikes Prices of Petroleum Products ',
			'sub_title' => '',
			'summary' => 'December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">December 13: Nepal Oil Corporation (NOC) has increased the prices of petroleum products.</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:&quot;Arial Unicode MS&quot;">According to NOC Spokesperson, Binit Mani Upadhyaya, the price of petrol has been raised by Re 1 per litre. </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:&quot;Arial Unicode MS&quot;">Similarly diesel and kerosene prices also surged by Rs 2 per litre effective from Saturday midnight, NOC said in a statement. </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:&quot;Arial Unicode MS&quot;">After the price hike, the retail price of petrol has been fixed at Rs 108 per litre while diesel and kerosene will now cost Rs 91 per litre.</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:&quot;Arial Unicode MS&quot;">The state-owned oil monopoly has not changed the price of aviation turbine fuel and cooling gas (liquefied petroleum gas).</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:&quot;Arial Unicode MS&quot;">The latest fuel price hike has been based on automatic fuel pricing mechanism according to the new IOC list provided by the Indian Oil Corporation.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 14 => array(
		'Article' => array(
			'id' => '12796',
			'article_category_id' => '1',
			'title' => 'China's Proposes Rebuilding Araniko Highway',
			'sub_title' => '',
			'summary' => 'December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">December 13: The Chinese government has proposed to rebuild the Araniko Highway, which is the first highway to connect Nepal and China. Various sections of the highway have been damaged by earthquakes and recurring floods. </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:Helvetica">The Chinese government has proposed to rebuild the highway at a cost of 80 million yuan (Rs 1.44 billion).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;<span style="font-size:14.0pt"><span style="font-family:Helvetica">The Chinese embassy has sent a proposal for reconstructing the Araniko Highway damaged by the 2072 earthquakes and subsequent landslides as well as repeated floods, according to the Development Aid Implementation Division under the Department of Roads (DoR).</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">Even though the Chinese government has pledged to rebuild the highway, the repair work is unlikely to begin immediately. Department of Roads informed that the Chinese construction team is unlikely to arrive due to the Covid-19 pandemic.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the Department of Roads, the Chinese government has proposed to rebuild the section from Panchkhal to Kodari of Araniki Highway. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">According to the proposal, the road will not be upgraded but reconstruction work will be done in the places damaged by the earthquake and rain. Roads have been damaged in more than 60 locations across the highway.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria">&nbsp;</span></span><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Helvetica">At present, it is difficult to operate traffic on the highway due to damages that occurred at the bridges as well as road sections in Kothe, Lamosanghu Barhabise, Khursanibari, Sirise, Khagdol, Jambu, Jhale, Daklank, Upper Bhotekoshi Dam area and Ghatte Khola.&nbsp;</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