NEWS

Nepal yet to Remove Cannabis from List of Harmful Drugs

Dec 04, 2020 0 2 minutes 53 seconds to read

December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in…

Central Bank to Amend its Decisions after Quarterly Review of Monetary Policy

Dec 04, 2020 0 2 minutes 54 seconds to read

December 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal…

Settle Covid-19 Insurance Claims within 3 Days: Finance Ministry

Dec 04, 2020 0 1 minutes 55 seconds to read

December 4: The Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days.…

Gold Dealers Back in Business for Marriage Season

Dec 03, 2020 0 3 minutes 28 seconds to read

December 3: The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control…

Businessmen Increasing Trade with Other Countries due to Obstruction at Nepal-China Border

Dec 03, 2020 0 2 minutes 17 seconds to read

December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation…

Price of Construction Materials Increasing

Dec 03, 2020 0 1 minutes 25 seconds to read

December 3: The prices of most of the construction materials have increased since the beginning of the construction season.…

Finance Minister Pledges to Cooperate with Private Sector

Dec 03, 2020 0 2 minutes 54 seconds to read

December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry…

Number of Containers Entering Nepal from Third Countries Declining

Dec 03, 2020 0 3 minutes 33 seconds to read

December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data.…

House Panel, NPC to Study Impact of Coronavirus on Big Projects

Dec 02, 2020 0 2 minutes 11 seconds to read

December 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride…

Central Bank to Collect Rs 50 Billion from Market

Dec 02, 2020 0 54 seconds to read

December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28…

Insurance Board makes it Mandatory for Covering Agriculture Insurance

Dec 02, 2020 0 2 minutes 6 seconds to read

December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual…

Air Service between Nepal and India to Resume from Next Week

Dec 02, 2020 0 2 minutes 25 seconds to read

December 2: Commercial flights between Nepal and India will resume from next week after a long disruption due to…

Issue of Project Extension Likely to Resurface

Dec 02, 2020 0 2 minutes 25 seconds to read

December 2: The issue of deadline extension of construction projects is likely to resurface again.…

Supply of Vegetables up at Kalimati Market

Dec 01, 2020 0 2 minutes 14 seconds to read

December 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days.…

Flow of Concessional Loan Increasing

Dec 01, 2020 0 2 minutes 22 seconds to read

December 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this…

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No Laughing Matter

The Sweet Rewards of Power

By Madan Lamsal

. . .
read more »

NEPSE

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			'id' => '12756',
			'article_category_id' => '1',
			'title' => 'Nepal yet to Remove Cannabis from List of Harmful Drugs ',
			'sub_title' => '',
			'summary' => 'December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal. However, the parliament has not held any discussion regarding the issue.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The proposal for farming cannabis was registered in the parliament in late February by the leaders of the ruling Nepal Communist Party. The draft bill is gathering dust because it does not fall on the priority list of parliament. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Lawmaker Sher Bahadur Tamang, a member of parliament representing the ruling party, says that the bill must be endorsed by the winter session of parliament.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">&ldquo;This issue was in the backburner due to coronavirus and budget announcement but it shouldn&rsquo;t be ignored anymore,&rdquo; says Tamang.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">MP Tamang further said that Speaker Agni Prasad Sapkota has already made a commitment to forward the bill for discussion and therefore he is assured that new laws will come into effect soon.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At a time when production and distribution of cannabis has been banned in Nepal, the United Nations has removed cannabis from the list of dangerous drugs.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The UN Commission on Narcotic Drugs on Wednesday (December 2) voted to remove cannabis and cannabis resin from a category of the world&#39;s most dangerous drugs. The Vienna-based UN agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization&#39;s recommendation. Nepal also voted in favour of removing cannabis from the list.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended medicinal use of marijuana and scientific research of cannabis.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended removal of cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs. Until now, cannabis had been listed with heroin and several other opioids.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also include cocaine, morphine, opium and painkiller sold as OxyContin.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Nepal has now signed the new convention, the Narcotic Drugs Control Act 2033 still categorizes cannabis as harmful drugs of strong nature.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">After cannabis was banned in Nepal, India&rsquo;s product flourished in the international market. So, there was pressure for Nepal not to lift the ban.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'article_category_id' => '1',
			'title' => 'Central Bank to Amend its Decisions after Quarterly Review of Monetary Policy',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.',
			'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 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The central bank has concluded that the country&rsquo;s economy is yet to revive from the impacts of coronavirus although the balance of payments, foreign exchange reserve and inflation are all satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NRB is preparing to ensure that the interest rate for savings is not more than five percentage points than the interest rate fixed by banks for fixed deposits. The central bank took such decision after the banks were found lowering the rate of interest for savings.</span></span></span></span></p>

<p><span 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 central bank is also making necessary provisions so that the difference between the rate of interest among various kinds of deposit accounts is not more than five percentage points. However, this provision will not be applicable for call deposits.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NRB is also preparing to direct banks and financial institutions (BFIs) not to auction the collateral of the depositors who have been affected by Covid-19 provided that they do not have more than six months of pending interest rates to pay. NRB Governor Maha Prasad Adhikari informed that this concept has been managed to provide relief to Covid-19 victims.</span></span></span></span></p>

<p><span 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 central bank is also making arrangements to discourage unhealthy competition among banks for swapping loans. NRB has fixed 0.15 percent swap charge for prepayment of loans. Officials of NRB believe this will prevent banks from swapping loans of customers to some extent. </span></span></span></span></p>

<p><span 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 central bank is also preparing to make arrangement for advance payment and to determine the timeframe for payment of loans taken on stable interest rate in order to mitigate the risk as well as for resource management. The central bank had instructed BFIs to issue long-term personal loans at a stable interest rate on October 17, to ensure that the banks do not change the rate of interest later on. Governor Adhikari says that the central bank took such decision at the right time.</span></span></span></span></p>

<p><span 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 decisions take during the Covid-19 pandemic is focused on protecting the customers rather than the regulatory body. We took the decision of stable interest rate at the right moment,&rdquo; said Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12753',
			'article_category_id' => '1',
			'title' => 'Settle Covid-19 Insurance Claims within 3 Days: Finance Ministry',
			'sub_title' => '',
			'summary' => 'December 4: The Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: The<strong> </strong>Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finance ministry reportedly issued a fresh call to the Insurance Board following complaints that the beneficiaries were not receiving compensation or were facing hassles despite the government&rsquo;s clear instructions to release the amount to those who meet all the criteria. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier on November 3, the finance ministry had instructed the board to settle such claims within seven days.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry noted that only a handful of cases have been settled so far and the board has also failed to present daily progress report to the ministry regularly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the state-run national news agency (RSS), the ministry has instructed the board to ensure that the applicants who fulfill all the criteria related to coronavirus insurance claims must receive the compensation amount within three days and the report must be submitted to the ministry on a daily basis.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry has also directed the concerned authorities to complete the verification process as soon as possible, RSS reported.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The board has also been directed to publish the details related to coronavirus insurance including the verifications done so far, number of claims settle till date, related documents, false claims among others.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12752',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Back in Business for Marriage Season',
			'sub_title' => '',
			'summary' => 'December 3: The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 3: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control 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:Arial">The business of gold and silver is generally high during this month (mid-November to mid-December) due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to stakeholders, around 20 to 30 kilograms of gold are consumed on a daily basis at present. There is a tradition of wearing gold jewelries and presenting gold ornaments as gifts during marriage festivals in Nepal. This is the reason why the business of gold increases during the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Businessmen involved in this sector say that they are doing brisk business due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The business of gold and silver had been badly affected since last year due to a sharp hike in price of the precious yellow metal. Despite the rise in price, gold business was satisfactory during last winter&rsquo;s marriage season. The business had remained at an all time low with the emergence of coronavirus. The business was not encouraging even during festivals like Dashain, Tihar and Teej, according to the gold and silver dealers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, former president of the Federation of Nepal Gold and Silver Dealers Association Tej Ratna Shakya believes that the business is getting back on track now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The business of gold and silver was extremely low due to price hike and coronavirus ever since last winter,&rdquo; said Shakya, adding, &ldquo;But now, it has become somewhat normal.&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:Arial">However, Shakya says that their business is still very low compared to normal days. He says that the daily consumption of gold during normal days used to be over 40 kg. But it is only half the amount at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;We take this as a positive indication,&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:Arial">Shakya informed that although the price of gold has declined at the moment, there are indications that the price may rise again. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This business is likely to pick up pace only in the upcoming summer,&rdquo; says Shakya.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The gold business was affected ever since last July due to the trade war between the USA and China. In addition to that, the coronavirus pandemic further affected the 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:Arial">The price of gold in Nepal is fixed as per the price in the international market.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 4 => array(
		'Article' => array(
			'id' => '12751',
			'article_category_id' => '1',
			'title' => 'Businessmen Increasing Trade with Other Countries due to Obstruction at Nepal-China Border ',
			'sub_title' => '',
			'summary' => 'December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet. Chinese side has been delivering up to five containers of goods daily across the border to Nepal in an attempt to avoid coronavirus from spreading.</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;Times New Roman&quot;">However, Nepali containers have not been able to cross the border due to the restriction imposed by China. </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;Times New Roman&quot;">President of the Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel, informed that businessmen have started increasing their trade with other countries after the goods were stopped across the border. </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;Times New Roman&quot;">The border checkpoints have been closed since January. The two countries had agreed to open the checkpoints from last May, but the checkpoints have not been fully operational.</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;Times New Roman&quot;">He added that up to five containers of goods are being imported from the transit point where 100 containers of goods used to be imported daily during normal days. He added that many businessmen have been forced to quit their businesses and have been looking for alternatives to Chinese goods.</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;Times New Roman&quot;">He further informed that Chinese containers have been dropping the goods up to the border as Nepali containers could not cross the border, adding that the traders have started looking for alternatives to trade with Chinese also because the cost has gone up by tens folds.</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;Times New Roman&quot;">He said that many businessmen had to give up their trade and run away as their goods had been blocked at the border for the past 11 months. Some of them have even changed their business. According to him, those traders who were reliant on China have increased their trade with India, Bangladesh, Thailand and other countries.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Price of Construction Materials Increasing ',
			'sub_title' => '',
			'summary' => 'December 3: The prices of most of the construction materials have increased since the beginning of the construction season. ',
			'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 3: The prices of most of the construction materials have increased since the beginning of the construction season. Apart from cement, prices of sand and iron rods have also increased. Prices of these construction materials have risen sharply as the government has banned illegal extraction of sand and the prices of iron rods and billets have increased in the international market. However, the price of cement has remained the same. </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;">In Nepal, the time from November to May is considered as the peak season for infrastructure construction. However, construction entrepreneurs are worried about the rise in prices of essential construction materials at the beginning of the season. President of the Federation of Contractors Association of Nepal (FCAN), Ravi Singh, said that the construction sector is facing problems from every aspect at present. </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;">&quot;The government&#39;s decision to ban illegal excavations has led to a shortage of sand in the market,&quot; Singh said, adding, &ldquo;Although these materials are available, they are highly expensive.&rdquo; He said that the demand for sand is high at this time but the shortage is already evident. Construction entrepreneurs have accused middlemen &nbsp;of arbitrarily increasing the price of goods. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12748',
			'article_category_id' => '1',
			'title' => 'Finance Minister Pledges to Cooperate with Private Sector',
			'sub_title' => '',
			'summary' => 'December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During a meeting with the finance minister on Wednesday (December 2), FNCCI President Shekhar Golchha said that they have loads of work to do for the revival of economy and are making preparations to meet the challenges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the FNCCI is making preparations to document a vision for Nepal based on successful models of various countries with the support from international organisations. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The FNCCI is also preparing to present a set of recommendations to the government for the revival of economy after a research involving experts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha informed that several recommendations made by the FNCCI have been included in the monetary policy of the government but the implementation for the welfare of small industries at the local levels has not been possible due to non-cooperation from commercial banks. He also urged the finance minister to implement the provisions of the monetary policy without any change.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha also requested the finance minister to bring stimulus package targeting small enterprises.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During Wednesday&rsquo;s meeting, Finance Minister Poudel pledged to keep the morale of the private sector high and said that the support from private sector was vital to revive the economy that has been badly affected by coronavirus pandemic. He also assured the members of FNCCI that the provisions of monetary policy and the budget will be effectively implemented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel said that he will address the complaints and remove the obstacles in implementing the policies and programmes of the government as per the monetary policy and budget announcement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also urged the private sector not to doubt the intentions of the government towards them and assured that the government views the private sector in a positive manner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Private sector has played a vital role in generating employment opportunities and attaining economic growth,&rdquo; said Minister Poudel, adding, &ldquo;We have realized the importance of private sector and therefore we are ready to collaborate with the private sector.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12747',
			'article_category_id' => '1',
			'title' => 'Number of Containers Entering Nepal from Third Countries Declining',
			'sub_title' => '',
			'summary' => 'December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">It has been found that the cargo containers entering Nepal from third countries via Indian ports have reduced in the eight months of the current fiscal year 2020/21.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Kolkata-based Nepal Transit and Warehousing Company Limited (NTWC), cargo entering Nepal from Kolkata between April to November 2020 has declined by 20 percent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As of November-end of current fiscal year, a total of 55,664 containers left for Nepal from Indian ports, informed Laxman Khadka, chief of NTWC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Among them, 34,017 containers arrived in Nepal from Kolkata while 21,647 arrived from Visakhapatnam.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During the corresponding period of last fiscal year 2019/20, a total of 69,945 such containers had entered Nepal via India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the government has lifted lockdown and prohibitory order, the impact of coronavirus on foreign trade is yet to recede. Although Nepal&rsquo;s bilateral trade with India has improved in the recent months, it is evident from the figures that the country&rsquo;s overall foreign trade has been declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The country&rsquo;s economy is crawling back to pre-Covid-19 situation after the government lifted most of the restrictions since around two months ago. There has been some improvement in production after the market started reopening.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">However, stakeholders believe that it will take almost one year for the economy to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Babulal Chachan, chairman of Chachan Group, says that the countries industries were operating at 15 to 20 percent capacity during the lockdown period which was 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;Bangla MN&quot;">The impact of the lockdown is now visible in the country&rsquo;s foreign trade, says industrialist Pradeep Kedia. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialists and entrepreneurs are of the view that the country&rsquo;s economy will not return to normalcy as long as the fear of coronavirus persists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialist Rajesh Kyal says that they are fearful of another lockdown at a time when the industries are picking up pace because there has been a rise in infection in the 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;Bangla MN&quot;">&ldquo;We are still fearful of another round of lockdown. Therefore, the industries are not able to operate in full capacity,&rdquo; said Kyal</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12744',
			'article_category_id' => '1',
			'title' => 'House Panel, NPC to Study Impact of Coronavirus on Big Projects',
			'sub_title' => '',
			'summary' => 'December 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.',
			'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 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.</span></span></span></span></p>

<p><span 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 parliamentary committee as well as the National Planning Commission (NPC) have shown great concern after the big projects of the country failed to pick up pace.&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;">The National Concern and Coordination Committee of upper house has formed a sub-committee to study the impact of coronavirus on national pride projects while the vice chairman of the National Planning Commission Dr Pushpa Kandel has started field inspection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairperson of the National Concern and Coordination Committee Dil Kumari Rawal Thapa informed that the sub-committee members will make a field visit to the project sites and hold discussions with stakeholders. Then the committee will issue a directive with recommendations to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Some of the national pride projects that have failed to meet the meet the deadline include Melamchi Water Supply Project, Sikta Irrigation Project, Rani-Jamara Kularia and Babai Irrigation Project among others. Those projects have been facing problems of manpower shortage and transportation.&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;">Preliminary study suggests that the East-West Electric Railway has also been delayed due to coronavirus while other projects affected by the pandemic include the Mid-Hill Highway, North-South (Koshi) Highway, Kaligandaki Corridor, Karnali Highway and Postal Highway. The Kathmandu-Tarai Fast Track is also facing some problem in &ldquo;cutting and filling&rdquo;, states the preliminary study of NPC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NPC Vice Chairperson Kandel informed that they will conduct a detailed study and inform the government about the current status of the projects.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12746',
			'article_category_id' => '1',
			'title' => 'Central Bank to Collect Rs 50 Billion from Market',
			'sub_title' => '',
			'summary' => 'December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Banks and financial institutions (BFIs) interested in depositing their money at the central bank were instructed to present their proposals for fixing the interest rate through online medium not later than 2 pm on Wednesday (December 2). NRB said that first preference will be given to the proposals with lower interest rates.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank will make payment of the interest as well as deposited amount on December 30 when the 28-day maturity period ends.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12743',
			'article_category_id' => '1',
			'title' => 'Insurance Board makes it Mandatory for Covering Agriculture Insurance',
			'sub_title' => '',
			'summary' => 'December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business. This provision has come into force after the Insurance Board issued the Agriculture and Livestock Insurance Directive 2077 on Monday (December 1).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Insurance Board, this new provision will be implemented from the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The directive mentions that insurance companies must cover 5 percent insurance for the agriculture sector from its annual sales of insurance policies. The board officials said that they made such provision due to lacklusture approach of insurance companies toward agriculture insurance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Insurance Board has classified agriculture insurance into to categories, namely vegetation and livestock insurance. Insurance companies can also issue short-term insurance policies from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for a technical expert to be present while covering agriculture insurance. The technician is entitled to receive 5 percent commission from the insurance amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">From now on, insurance companies cannot fix the insurance amount for a particular product based on assumption or approximate value. They will also have to keep digital records by taking pictures and videos, the new directive states.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for surveyor for evaluation who has a minimum of proficiency certificate level degree and has taken permission from the board for the survey. The directive states that the remunerations of the surveyors can be determined by the insurance companies.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12741',
			'article_category_id' => '1',
			'title' => 'Air Service between Nepal and India to Resume from Next Week',
			'sub_title' => '',
			'summary' => 'December 2: Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 2: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Ministry of Culture, Tourism and Civil Aviation is preparing to grant permission to resume air service between the two countries following a decision by the Council of Ministers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Spokesperson at the tourism ministry Kamal Prasad Bhattarai confirmed that the ministry is preparing to resume flights between the two countries. He informed that the flights will resume not later than ten days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The preparation to resume flights between Nepal and India is in final phase. We will resume flights as soon as possible by adopting required security measures,&rdquo; said Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government is preparing to allow two flights a day between Kathmandu and New Delhi for the time being. Only one airline company each from Nepal and India will be granted permission to operate flights in the initial period, said sources at the ministry. The ministry informed that additional flights will be operated as per the requirement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of India had proposed Nepal to resume air service based on the concept of &ldquo;air bubble&rdquo;. The proposal was endorsed by the cabinet on November 25. Based on that decision, the ministry is preparing to send a positive response to the proposal of India. After that, the Civil Aviation Authority of Nepal (CAAN) will sign a technical agreement with its Indian counterpart agency. According to Spokesperson Bhattarai, flights will resume after both the airlines regulatory bodies of Nepal and India prepare flight protocols.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of Nepal had suspended regular flights since March 22 to control the spread of coronavirus. Regular flights resumed from September 1 but flights to India remained suspended due to high rate of infection in the southern neighboring country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12742',
			'article_category_id' => '1',
			'title' => 'Issue of Project Extension Likely to Resurface',
			'sub_title' => '',
			'summary' => 'December 2: The issue of deadline extension of construction projects is likely to resurface again. ',
			'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 2: The issue of deadline extension of construction projects is likely to resurface again. The government has been making necessary preparations not to extend the deadline of projects whose contract ended in April. However, construction companies have been exerting pressure on the government to extend the contracts of 6000 small and big projects by a year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is positive about extending the contracts of the projects considering the impact of lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Roads Keshav Kumar Sharma informed that the government is preparing to extend the deadline of the projects that were supposed to be completed between March 24 and July 21.</span></span></span></span></p>

<p><span 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 government had decided to extend the deadline of only those projects whose term expired during the lockdown period by six months,&rdquo; said Sharma. &ldquo;But the government is positive about extending the terms of those projects as well whose terms expired after the lockdown period. They will also get deadline extension,&rdquo; added 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;">However, he made it clear that those projects which were supposed to be completed before the lockdown period will not get any extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Contractors Association of Nepal, the umbrella body of construction companies, blame the government for the delay in construction work. FCAN President Ravi Singh says that the wrong decision taken by the government has caused delay because the works were affected while correcting the government decisions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh said that they have demanded extension of deadline of 6000 projects because the construction works were hampered by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh reminded that it took nine months to correct a decision taken as per the Public Procurement Act.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12740',
			'article_category_id' => '1',
			'title' => 'Supply of Vegetables up at Kalimati Market',
			'sub_title' => '',
			'summary' => 'December 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. ',
			'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 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. The supply of vegetables, which had been declining since the start of the lockdown, had not been able to increase even after the lockdown was lifted. However, the supply system has been slowly improving since the last one week. </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;">According to the Kalimati Fruits and Vegetable Market Development Committee, only 300 to 400 tons of vegetables used to enter Kalimati daily. The supply has improved since last Monday. </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;">According to the committee, 600 tons of vegetables and fruits were imported on November 23, 659 tons on November 24, 600 tons on November 25, 600 tons on November 26, 500 tons on November 27 and 633 tons on November 28. According to the data kept by the committee, up to 700-800 tons of vegetables and fruits enter Kalimati daily under normal circumstances. A total of 296 tons of vegetables had entered Kalimati on October 24. </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;">Executive Director of the committee Binod Kumar Bhattarai said that the supply of vegetables and fruits has been improving after Tihar. According to him, the amoount of vegetables including cauliflowers, tomatoes and potatoes has increased in Kalimati after Tihar. </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;">Local suppliers say that they have also increased the supply of vegetables as the number of people coming to Kathmandu after Tihar and Chhath has increased. Gita Prasad Acharya, chairperson of the Kalimati Fruits and Vegetables Entrepreneurs&rsquo; Association said that the supply has also increased along with the increase in consumption of vegetables after the festival. He said that another reason for the increase in supply was the increase in domestic production. </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;">Consumption of vegetables had reduced as hotels, restaurants, schools, colleges and hostels were closed for a long time due to the lockdown. However, this situation is currently improving.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12739',
			'article_category_id' => '1',
			'title' => 'Flow of Concessional Loan Increasing',
			'sub_title' => '',
			'summary' => 'December 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.',
			'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 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As of mid-October, banks have invested Rs 72.46 billion under the heading of concessional loan. The investment under concessional loan&nbsp; was less than Rs 64.95 billion till mid-September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, BFIs invested Rs 7.51 billion as concessional loan within a period of just one month. Bankers say that the flow of loan under this heading was affected to some extent after the government imposed lockdown in late March.</span></span></span></span></p>

<p><span 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 central bank informed that commercial banks, development banks and finance companies have provided majority of loans under the heading of concessional loan to the agriculture sector. Out of Rs 72 billion concessional loans provided till mid-October, 84.43 percent has been provided to the agriculture sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, a total of 27,369 individuals have taken Rs 61.25 billion concessional loan for commercial farming and animal husbandry. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">BFIs have provided Rs 1.06 billion loan without any collateral. The remaining amount of Rs 60.01 billion has been provided against collateral, shows data kept by the NRB.</span></span></span></span></p>

<p><span 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 heading of concessional loan, farmers can avail up to Rs 50 million per person at 5 percent interest rate. Loan more than Rs 50 million can be provided at 2 percent interest rate.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks and financial institutions fix the rate of interest by adding 2 percent to the base rate. The government provides 6 percent concession for women entrepreneurship while banks are entitled to receive 5 percent concession for all other categories under the concessional loan. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12756',
			'article_category_id' => '1',
			'title' => 'Nepal yet to Remove Cannabis from List of Harmful Drugs ',
			'sub_title' => '',
			'summary' => 'December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal. However, the parliament has not held any discussion regarding the issue.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The proposal for farming cannabis was registered in the parliament in late February by the leaders of the ruling Nepal Communist Party. The draft bill is gathering dust because it does not fall on the priority list of parliament. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Lawmaker Sher Bahadur Tamang, a member of parliament representing the ruling party, says that the bill must be endorsed by the winter session of parliament.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">&ldquo;This issue was in the backburner due to coronavirus and budget announcement but it shouldn&rsquo;t be ignored anymore,&rdquo; says Tamang.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">MP Tamang further said that Speaker Agni Prasad Sapkota has already made a commitment to forward the bill for discussion and therefore he is assured that new laws will come into effect soon.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At a time when production and distribution of cannabis has been banned in Nepal, the United Nations has removed cannabis from the list of dangerous drugs.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The UN Commission on Narcotic Drugs on Wednesday (December 2) voted to remove cannabis and cannabis resin from a category of the world&#39;s most dangerous drugs. The Vienna-based UN agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization&#39;s recommendation. Nepal also voted in favour of removing cannabis from the list.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended medicinal use of marijuana and scientific research of cannabis.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended removal of cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs. Until now, cannabis had been listed with heroin and several other opioids.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also include cocaine, morphine, opium and painkiller sold as OxyContin.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Nepal has now signed the new convention, the Narcotic Drugs Control Act 2033 still categorizes cannabis as harmful drugs of strong nature.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">After cannabis was banned in Nepal, India&rsquo;s product flourished in the international market. So, there was pressure for Nepal not to lift the ban.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12755',
			'article_category_id' => '1',
			'title' => 'Central Bank to Amend its Decisions after Quarterly Review of Monetary Policy',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.',
			'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 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The central bank has concluded that the country&rsquo;s economy is yet to revive from the impacts of coronavirus although the balance of payments, foreign exchange reserve and inflation are all satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NRB is preparing to ensure that the interest rate for savings is not more than five percentage points than the interest rate fixed by banks for fixed deposits. The central bank took such decision after the banks were found lowering the rate of interest for savings.</span></span></span></span></p>

<p><span 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 central bank is also making necessary provisions so that the difference between the rate of interest among various kinds of deposit accounts is not more than five percentage points. However, this provision will not be applicable for call deposits.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NRB is also preparing to direct banks and financial institutions (BFIs) not to auction the collateral of the depositors who have been affected by Covid-19 provided that they do not have more than six months of pending interest rates to pay. NRB Governor Maha Prasad Adhikari informed that this concept has been managed to provide relief to Covid-19 victims.</span></span></span></span></p>

<p><span 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 central bank is also making arrangements to discourage unhealthy competition among banks for swapping loans. NRB has fixed 0.15 percent swap charge for prepayment of loans. Officials of NRB believe this will prevent banks from swapping loans of customers to some extent. </span></span></span></span></p>

<p><span 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 central bank is also preparing to make arrangement for advance payment and to determine the timeframe for payment of loans taken on stable interest rate in order to mitigate the risk as well as for resource management. The central bank had instructed BFIs to issue long-term personal loans at a stable interest rate on October 17, to ensure that the banks do not change the rate of interest later on. Governor Adhikari says that the central bank took such decision at the right time.</span></span></span></span></p>

<p><span 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 decisions take during the Covid-19 pandemic is focused on protecting the customers rather than the regulatory body. We took the decision of stable interest rate at the right moment,&rdquo; said Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12753',
			'article_category_id' => '1',
			'title' => 'Settle Covid-19 Insurance Claims within 3 Days: Finance Ministry',
			'sub_title' => '',
			'summary' => 'December 4: The Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: The<strong> </strong>Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finance ministry reportedly issued a fresh call to the Insurance Board following complaints that the beneficiaries were not receiving compensation or were facing hassles despite the government&rsquo;s clear instructions to release the amount to those who meet all the criteria. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier on November 3, the finance ministry had instructed the board to settle such claims within seven days.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry noted that only a handful of cases have been settled so far and the board has also failed to present daily progress report to the ministry regularly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the state-run national news agency (RSS), the ministry has instructed the board to ensure that the applicants who fulfill all the criteria related to coronavirus insurance claims must receive the compensation amount within three days and the report must be submitted to the ministry on a daily basis.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry has also directed the concerned authorities to complete the verification process as soon as possible, RSS reported.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The board has also been directed to publish the details related to coronavirus insurance including the verifications done so far, number of claims settle till date, related documents, false claims among others.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Gold Dealers Back in Business for Marriage Season',
			'sub_title' => '',
			'summary' => 'December 3: The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 3: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control 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:Arial">The business of gold and silver is generally high during this month (mid-November to mid-December) due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to stakeholders, around 20 to 30 kilograms of gold are consumed on a daily basis at present. There is a tradition of wearing gold jewelries and presenting gold ornaments as gifts during marriage festivals in Nepal. This is the reason why the business of gold increases during the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Businessmen involved in this sector say that they are doing brisk business due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The business of gold and silver had been badly affected since last year due to a sharp hike in price of the precious yellow metal. Despite the rise in price, gold business was satisfactory during last winter&rsquo;s marriage season. The business had remained at an all time low with the emergence of coronavirus. The business was not encouraging even during festivals like Dashain, Tihar and Teej, according to the gold and silver dealers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, former president of the Federation of Nepal Gold and Silver Dealers Association Tej Ratna Shakya believes that the business is getting back on track now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The business of gold and silver was extremely low due to price hike and coronavirus ever since last winter,&rdquo; said Shakya, adding, &ldquo;But now, it has become somewhat normal.&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:Arial">However, Shakya says that their business is still very low compared to normal days. He says that the daily consumption of gold during normal days used to be over 40 kg. But it is only half the amount at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;We take this as a positive indication,&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:Arial">Shakya informed that although the price of gold has declined at the moment, there are indications that the price may rise again. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This business is likely to pick up pace only in the upcoming summer,&rdquo; says Shakya.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The gold business was affected ever since last July due to the trade war between the USA and China. In addition to that, the coronavirus pandemic further affected the 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:Arial">The price of gold in Nepal is fixed as per the price in the international market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12751',
			'article_category_id' => '1',
			'title' => 'Businessmen Increasing Trade with Other Countries due to Obstruction at Nepal-China Border ',
			'sub_title' => '',
			'summary' => 'December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet. Chinese side has been delivering up to five containers of goods daily across the border to Nepal in an attempt to avoid coronavirus from spreading.</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;Times New Roman&quot;">However, Nepali containers have not been able to cross the border due to the restriction imposed by China. </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;Times New Roman&quot;">President of the Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel, informed that businessmen have started increasing their trade with other countries after the goods were stopped across the border. </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;Times New Roman&quot;">The border checkpoints have been closed since January. The two countries had agreed to open the checkpoints from last May, but the checkpoints have not been fully operational.</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;Times New Roman&quot;">He added that up to five containers of goods are being imported from the transit point where 100 containers of goods used to be imported daily during normal days. He added that many businessmen have been forced to quit their businesses and have been looking for alternatives to Chinese goods.</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;Times New Roman&quot;">He further informed that Chinese containers have been dropping the goods up to the border as Nepali containers could not cross the border, adding that the traders have started looking for alternatives to trade with Chinese also because the cost has gone up by tens folds.</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;Times New Roman&quot;">He said that many businessmen had to give up their trade and run away as their goods had been blocked at the border for the past 11 months. Some of them have even changed their business. According to him, those traders who were reliant on China have increased their trade with India, Bangladesh, Thailand and other countries.</span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20201203020907_20200303035545_Trade Points in Northern Border to Remain Closed.jpg',
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		'Article' => array(
			'id' => '12750',
			'article_category_id' => '1',
			'title' => 'Price of Construction Materials Increasing ',
			'sub_title' => '',
			'summary' => 'December 3: The prices of most of the construction materials have increased since the beginning of the construction season. ',
			'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 3: The prices of most of the construction materials have increased since the beginning of the construction season. Apart from cement, prices of sand and iron rods have also increased. Prices of these construction materials have risen sharply as the government has banned illegal extraction of sand and the prices of iron rods and billets have increased in the international market. However, the price of cement has remained the same. </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;">In Nepal, the time from November to May is considered as the peak season for infrastructure construction. However, construction entrepreneurs are worried about the rise in prices of essential construction materials at the beginning of the season. President of the Federation of Contractors Association of Nepal (FCAN), Ravi Singh, said that the construction sector is facing problems from every aspect at present. </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;">&quot;The government&#39;s decision to ban illegal excavations has led to a shortage of sand in the market,&quot; Singh said, adding, &ldquo;Although these materials are available, they are highly expensive.&rdquo; He said that the demand for sand is high at this time but the shortage is already evident. Construction entrepreneurs have accused middlemen &nbsp;of arbitrarily increasing the price of goods. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12748',
			'article_category_id' => '1',
			'title' => 'Finance Minister Pledges to Cooperate with Private Sector',
			'sub_title' => '',
			'summary' => 'December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During a meeting with the finance minister on Wednesday (December 2), FNCCI President Shekhar Golchha said that they have loads of work to do for the revival of economy and are making preparations to meet the challenges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the FNCCI is making preparations to document a vision for Nepal based on successful models of various countries with the support from international organisations. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The FNCCI is also preparing to present a set of recommendations to the government for the revival of economy after a research involving experts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha informed that several recommendations made by the FNCCI have been included in the monetary policy of the government but the implementation for the welfare of small industries at the local levels has not been possible due to non-cooperation from commercial banks. He also urged the finance minister to implement the provisions of the monetary policy without any change.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha also requested the finance minister to bring stimulus package targeting small enterprises.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During Wednesday&rsquo;s meeting, Finance Minister Poudel pledged to keep the morale of the private sector high and said that the support from private sector was vital to revive the economy that has been badly affected by coronavirus pandemic. He also assured the members of FNCCI that the provisions of monetary policy and the budget will be effectively implemented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel said that he will address the complaints and remove the obstacles in implementing the policies and programmes of the government as per the monetary policy and budget announcement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also urged the private sector not to doubt the intentions of the government towards them and assured that the government views the private sector in a positive manner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Private sector has played a vital role in generating employment opportunities and attaining economic growth,&rdquo; said Minister Poudel, adding, &ldquo;We have realized the importance of private sector and therefore we are ready to collaborate with the private sector.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12747',
			'article_category_id' => '1',
			'title' => 'Number of Containers Entering Nepal from Third Countries Declining',
			'sub_title' => '',
			'summary' => 'December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">It has been found that the cargo containers entering Nepal from third countries via Indian ports have reduced in the eight months of the current fiscal year 2020/21.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Kolkata-based Nepal Transit and Warehousing Company Limited (NTWC), cargo entering Nepal from Kolkata between April to November 2020 has declined by 20 percent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As of November-end of current fiscal year, a total of 55,664 containers left for Nepal from Indian ports, informed Laxman Khadka, chief of NTWC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Among them, 34,017 containers arrived in Nepal from Kolkata while 21,647 arrived from Visakhapatnam.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During the corresponding period of last fiscal year 2019/20, a total of 69,945 such containers had entered Nepal via India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the government has lifted lockdown and prohibitory order, the impact of coronavirus on foreign trade is yet to recede. Although Nepal&rsquo;s bilateral trade with India has improved in the recent months, it is evident from the figures that the country&rsquo;s overall foreign trade has been declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The country&rsquo;s economy is crawling back to pre-Covid-19 situation after the government lifted most of the restrictions since around two months ago. There has been some improvement in production after the market started reopening.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">However, stakeholders believe that it will take almost one year for the economy to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Babulal Chachan, chairman of Chachan Group, says that the countries industries were operating at 15 to 20 percent capacity during the lockdown period which was 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;Bangla MN&quot;">The impact of the lockdown is now visible in the country&rsquo;s foreign trade, says industrialist Pradeep Kedia. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialists and entrepreneurs are of the view that the country&rsquo;s economy will not return to normalcy as long as the fear of coronavirus persists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialist Rajesh Kyal says that they are fearful of another lockdown at a time when the industries are picking up pace because there has been a rise in infection in the 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;Bangla MN&quot;">&ldquo;We are still fearful of another round of lockdown. Therefore, the industries are not able to operate in full capacity,&rdquo; said Kyal</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12744',
			'article_category_id' => '1',
			'title' => 'House Panel, NPC to Study Impact of Coronavirus on Big Projects',
			'sub_title' => '',
			'summary' => 'December 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.',
			'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 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.</span></span></span></span></p>

<p><span 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 parliamentary committee as well as the National Planning Commission (NPC) have shown great concern after the big projects of the country failed to pick up pace.&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;">The National Concern and Coordination Committee of upper house has formed a sub-committee to study the impact of coronavirus on national pride projects while the vice chairman of the National Planning Commission Dr Pushpa Kandel has started field inspection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairperson of the National Concern and Coordination Committee Dil Kumari Rawal Thapa informed that the sub-committee members will make a field visit to the project sites and hold discussions with stakeholders. Then the committee will issue a directive with recommendations to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Some of the national pride projects that have failed to meet the meet the deadline include Melamchi Water Supply Project, Sikta Irrigation Project, Rani-Jamara Kularia and Babai Irrigation Project among others. Those projects have been facing problems of manpower shortage and transportation.&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;">Preliminary study suggests that the East-West Electric Railway has also been delayed due to coronavirus while other projects affected by the pandemic include the Mid-Hill Highway, North-South (Koshi) Highway, Kaligandaki Corridor, Karnali Highway and Postal Highway. The Kathmandu-Tarai Fast Track is also facing some problem in &ldquo;cutting and filling&rdquo;, states the preliminary study of NPC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NPC Vice Chairperson Kandel informed that they will conduct a detailed study and inform the government about the current status of the projects.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12746',
			'article_category_id' => '1',
			'title' => 'Central Bank to Collect Rs 50 Billion from Market',
			'sub_title' => '',
			'summary' => 'December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Banks and financial institutions (BFIs) interested in depositing their money at the central bank were instructed to present their proposals for fixing the interest rate through online medium not later than 2 pm on Wednesday (December 2). NRB said that first preference will be given to the proposals with lower interest rates.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank will make payment of the interest as well as deposited amount on December 30 when the 28-day maturity period ends.</span></span></span></span></p>

<p>&nbsp;</p>
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			'title' => 'Insurance Board makes it Mandatory for Covering Agriculture Insurance',
			'sub_title' => '',
			'summary' => 'December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business. This provision has come into force after the Insurance Board issued the Agriculture and Livestock Insurance Directive 2077 on Monday (December 1).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Insurance Board, this new provision will be implemented from the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The directive mentions that insurance companies must cover 5 percent insurance for the agriculture sector from its annual sales of insurance policies. The board officials said that they made such provision due to lacklusture approach of insurance companies toward agriculture insurance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Insurance Board has classified agriculture insurance into to categories, namely vegetation and livestock insurance. Insurance companies can also issue short-term insurance policies from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for a technical expert to be present while covering agriculture insurance. The technician is entitled to receive 5 percent commission from the insurance amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">From now on, insurance companies cannot fix the insurance amount for a particular product based on assumption or approximate value. They will also have to keep digital records by taking pictures and videos, the new directive states.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for surveyor for evaluation who has a minimum of proficiency certificate level degree and has taken permission from the board for the survey. The directive states that the remunerations of the surveyors can be determined by the insurance companies.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12741',
			'article_category_id' => '1',
			'title' => 'Air Service between Nepal and India to Resume from Next Week',
			'sub_title' => '',
			'summary' => 'December 2: Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 2: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Ministry of Culture, Tourism and Civil Aviation is preparing to grant permission to resume air service between the two countries following a decision by the Council of Ministers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Spokesperson at the tourism ministry Kamal Prasad Bhattarai confirmed that the ministry is preparing to resume flights between the two countries. He informed that the flights will resume not later than ten days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The preparation to resume flights between Nepal and India is in final phase. We will resume flights as soon as possible by adopting required security measures,&rdquo; said Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government is preparing to allow two flights a day between Kathmandu and New Delhi for the time being. Only one airline company each from Nepal and India will be granted permission to operate flights in the initial period, said sources at the ministry. The ministry informed that additional flights will be operated as per the requirement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of India had proposed Nepal to resume air service based on the concept of &ldquo;air bubble&rdquo;. The proposal was endorsed by the cabinet on November 25. Based on that decision, the ministry is preparing to send a positive response to the proposal of India. After that, the Civil Aviation Authority of Nepal (CAAN) will sign a technical agreement with its Indian counterpart agency. According to Spokesperson Bhattarai, flights will resume after both the airlines regulatory bodies of Nepal and India prepare flight protocols.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of Nepal had suspended regular flights since March 22 to control the spread of coronavirus. Regular flights resumed from September 1 but flights to India remained suspended due to high rate of infection in the southern neighboring country.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12742',
			'article_category_id' => '1',
			'title' => 'Issue of Project Extension Likely to Resurface',
			'sub_title' => '',
			'summary' => 'December 2: The issue of deadline extension of construction projects is likely to resurface again. ',
			'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 2: The issue of deadline extension of construction projects is likely to resurface again. The government has been making necessary preparations not to extend the deadline of projects whose contract ended in April. However, construction companies have been exerting pressure on the government to extend the contracts of 6000 small and big projects by a year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is positive about extending the contracts of the projects considering the impact of lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Roads Keshav Kumar Sharma informed that the government is preparing to extend the deadline of the projects that were supposed to be completed between March 24 and July 21.</span></span></span></span></p>

<p><span 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 government had decided to extend the deadline of only those projects whose term expired during the lockdown period by six months,&rdquo; said Sharma. &ldquo;But the government is positive about extending the terms of those projects as well whose terms expired after the lockdown period. They will also get deadline extension,&rdquo; added 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;">However, he made it clear that those projects which were supposed to be completed before the lockdown period will not get any extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Contractors Association of Nepal, the umbrella body of construction companies, blame the government for the delay in construction work. FCAN President Ravi Singh says that the wrong decision taken by the government has caused delay because the works were affected while correcting the government decisions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh said that they have demanded extension of deadline of 6000 projects because the construction works were hampered by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh reminded that it took nine months to correct a decision taken as per the Public Procurement Act.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12740',
			'article_category_id' => '1',
			'title' => 'Supply of Vegetables up at Kalimati Market',
			'sub_title' => '',
			'summary' => 'December 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. ',
			'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 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. The supply of vegetables, which had been declining since the start of the lockdown, had not been able to increase even after the lockdown was lifted. However, the supply system has been slowly improving since the last one week. </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;">According to the Kalimati Fruits and Vegetable Market Development Committee, only 300 to 400 tons of vegetables used to enter Kalimati daily. The supply has improved since last Monday. </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;">According to the committee, 600 tons of vegetables and fruits were imported on November 23, 659 tons on November 24, 600 tons on November 25, 600 tons on November 26, 500 tons on November 27 and 633 tons on November 28. According to the data kept by the committee, up to 700-800 tons of vegetables and fruits enter Kalimati daily under normal circumstances. A total of 296 tons of vegetables had entered Kalimati on October 24. </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;">Executive Director of the committee Binod Kumar Bhattarai said that the supply of vegetables and fruits has been improving after Tihar. According to him, the amoount of vegetables including cauliflowers, tomatoes and potatoes has increased in Kalimati after Tihar. </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;">Local suppliers say that they have also increased the supply of vegetables as the number of people coming to Kathmandu after Tihar and Chhath has increased. Gita Prasad Acharya, chairperson of the Kalimati Fruits and Vegetables Entrepreneurs&rsquo; Association said that the supply has also increased along with the increase in consumption of vegetables after the festival. He said that another reason for the increase in supply was the increase in domestic production. </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;">Consumption of vegetables had reduced as hotels, restaurants, schools, colleges and hostels were closed for a long time due to the lockdown. However, this situation is currently improving.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12739',
			'article_category_id' => '1',
			'title' => 'Flow of Concessional Loan Increasing',
			'sub_title' => '',
			'summary' => 'December 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.',
			'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 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As of mid-October, banks have invested Rs 72.46 billion under the heading of concessional loan. The investment under concessional loan&nbsp; was less than Rs 64.95 billion till mid-September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, BFIs invested Rs 7.51 billion as concessional loan within a period of just one month. Bankers say that the flow of loan under this heading was affected to some extent after the government imposed lockdown in late March.</span></span></span></span></p>

<p><span 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 central bank informed that commercial banks, development banks and finance companies have provided majority of loans under the heading of concessional loan to the agriculture sector. Out of Rs 72 billion concessional loans provided till mid-October, 84.43 percent has been provided to the agriculture sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, a total of 27,369 individuals have taken Rs 61.25 billion concessional loan for commercial farming and animal husbandry. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">BFIs have provided Rs 1.06 billion loan without any collateral. The remaining amount of Rs 60.01 billion has been provided against collateral, shows data kept by the NRB.</span></span></span></span></p>

<p><span 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 heading of concessional loan, farmers can avail up to Rs 50 million per person at 5 percent interest rate. Loan more than Rs 50 million can be provided at 2 percent interest rate.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks and financial institutions fix the rate of interest by adding 2 percent to the base rate. The government provides 6 percent concession for women entrepreneurship while banks are entitled to receive 5 percent concession for all other categories under the concessional loan. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12756',
			'article_category_id' => '1',
			'title' => 'Nepal yet to Remove Cannabis from List of Harmful Drugs ',
			'sub_title' => '',
			'summary' => 'December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal. However, the parliament has not held any discussion regarding the issue.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The proposal for farming cannabis was registered in the parliament in late February by the leaders of the ruling Nepal Communist Party. The draft bill is gathering dust because it does not fall on the priority list of parliament. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Lawmaker Sher Bahadur Tamang, a member of parliament representing the ruling party, says that the bill must be endorsed by the winter session of parliament.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">&ldquo;This issue was in the backburner due to coronavirus and budget announcement but it shouldn&rsquo;t be ignored anymore,&rdquo; says Tamang.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">MP Tamang further said that Speaker Agni Prasad Sapkota has already made a commitment to forward the bill for discussion and therefore he is assured that new laws will come into effect soon.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At a time when production and distribution of cannabis has been banned in Nepal, the United Nations has removed cannabis from the list of dangerous drugs.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The UN Commission on Narcotic Drugs on Wednesday (December 2) voted to remove cannabis and cannabis resin from a category of the world&#39;s most dangerous drugs. The Vienna-based UN agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization&#39;s recommendation. Nepal also voted in favour of removing cannabis from the list.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended medicinal use of marijuana and scientific research of cannabis.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended removal of cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs. Until now, cannabis had been listed with heroin and several other opioids.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also include cocaine, morphine, opium and painkiller sold as OxyContin.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Nepal has now signed the new convention, the Narcotic Drugs Control Act 2033 still categorizes cannabis as harmful drugs of strong nature.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">After cannabis was banned in Nepal, India&rsquo;s product flourished in the international market. So, there was pressure for Nepal not to lift the ban.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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			'title' => 'Central Bank to Amend its Decisions after Quarterly Review of Monetary Policy',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.',
			'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 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The central bank has concluded that the country&rsquo;s economy is yet to revive from the impacts of coronavirus although the balance of payments, foreign exchange reserve and inflation are all satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NRB is preparing to ensure that the interest rate for savings is not more than five percentage points than the interest rate fixed by banks for fixed deposits. The central bank took such decision after the banks were found lowering the rate of interest for savings.</span></span></span></span></p>

<p><span 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 central bank is also making necessary provisions so that the difference between the rate of interest among various kinds of deposit accounts is not more than five percentage points. However, this provision will not be applicable for call deposits.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NRB is also preparing to direct banks and financial institutions (BFIs) not to auction the collateral of the depositors who have been affected by Covid-19 provided that they do not have more than six months of pending interest rates to pay. NRB Governor Maha Prasad Adhikari informed that this concept has been managed to provide relief to Covid-19 victims.</span></span></span></span></p>

<p><span 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 central bank is also making arrangements to discourage unhealthy competition among banks for swapping loans. NRB has fixed 0.15 percent swap charge for prepayment of loans. Officials of NRB believe this will prevent banks from swapping loans of customers to some extent. </span></span></span></span></p>

<p><span 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 central bank is also preparing to make arrangement for advance payment and to determine the timeframe for payment of loans taken on stable interest rate in order to mitigate the risk as well as for resource management. The central bank had instructed BFIs to issue long-term personal loans at a stable interest rate on October 17, to ensure that the banks do not change the rate of interest later on. Governor Adhikari says that the central bank took such decision at the right time.</span></span></span></span></p>

<p><span 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 decisions take during the Covid-19 pandemic is focused on protecting the customers rather than the regulatory body. We took the decision of stable interest rate at the right moment,&rdquo; said Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 2 => array(
		'Article' => array(
			'id' => '12753',
			'article_category_id' => '1',
			'title' => 'Settle Covid-19 Insurance Claims within 3 Days: Finance Ministry',
			'sub_title' => '',
			'summary' => 'December 4: The Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: The<strong> </strong>Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finance ministry reportedly issued a fresh call to the Insurance Board following complaints that the beneficiaries were not receiving compensation or were facing hassles despite the government&rsquo;s clear instructions to release the amount to those who meet all the criteria. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier on November 3, the finance ministry had instructed the board to settle such claims within seven days.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry noted that only a handful of cases have been settled so far and the board has also failed to present daily progress report to the ministry regularly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the state-run national news agency (RSS), the ministry has instructed the board to ensure that the applicants who fulfill all the criteria related to coronavirus insurance claims must receive the compensation amount within three days and the report must be submitted to the ministry on a daily basis.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry has also directed the concerned authorities to complete the verification process as soon as possible, RSS reported.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The board has also been directed to publish the details related to coronavirus insurance including the verifications done so far, number of claims settle till date, related documents, false claims among others.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 3 => array(
		'Article' => array(
			'id' => '12752',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Back in Business for Marriage Season',
			'sub_title' => '',
			'summary' => 'December 3: The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 3: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control 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:Arial">The business of gold and silver is generally high during this month (mid-November to mid-December) due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to stakeholders, around 20 to 30 kilograms of gold are consumed on a daily basis at present. There is a tradition of wearing gold jewelries and presenting gold ornaments as gifts during marriage festivals in Nepal. This is the reason why the business of gold increases during the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Businessmen involved in this sector say that they are doing brisk business due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The business of gold and silver had been badly affected since last year due to a sharp hike in price of the precious yellow metal. Despite the rise in price, gold business was satisfactory during last winter&rsquo;s marriage season. The business had remained at an all time low with the emergence of coronavirus. The business was not encouraging even during festivals like Dashain, Tihar and Teej, according to the gold and silver dealers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, former president of the Federation of Nepal Gold and Silver Dealers Association Tej Ratna Shakya believes that the business is getting back on track now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The business of gold and silver was extremely low due to price hike and coronavirus ever since last winter,&rdquo; said Shakya, adding, &ldquo;But now, it has become somewhat normal.&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:Arial">However, Shakya says that their business is still very low compared to normal days. He says that the daily consumption of gold during normal days used to be over 40 kg. But it is only half the amount at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;We take this as a positive indication,&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:Arial">Shakya informed that although the price of gold has declined at the moment, there are indications that the price may rise again. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This business is likely to pick up pace only in the upcoming summer,&rdquo; says Shakya.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The gold business was affected ever since last July due to the trade war between the USA and China. In addition to that, the coronavirus pandemic further affected the 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:Arial">The price of gold in Nepal is fixed as per the price in the international market.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 4 => array(
		'Article' => array(
			'id' => '12751',
			'article_category_id' => '1',
			'title' => 'Businessmen Increasing Trade with Other Countries due to Obstruction at Nepal-China Border ',
			'sub_title' => '',
			'summary' => 'December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet. Chinese side has been delivering up to five containers of goods daily across the border to Nepal in an attempt to avoid coronavirus from spreading.</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;Times New Roman&quot;">However, Nepali containers have not been able to cross the border due to the restriction imposed by China. </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;Times New Roman&quot;">President of the Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel, informed that businessmen have started increasing their trade with other countries after the goods were stopped across the border. </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;Times New Roman&quot;">The border checkpoints have been closed since January. The two countries had agreed to open the checkpoints from last May, but the checkpoints have not been fully operational.</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;Times New Roman&quot;">He added that up to five containers of goods are being imported from the transit point where 100 containers of goods used to be imported daily during normal days. He added that many businessmen have been forced to quit their businesses and have been looking for alternatives to Chinese goods.</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;Times New Roman&quot;">He further informed that Chinese containers have been dropping the goods up to the border as Nepali containers could not cross the border, adding that the traders have started looking for alternatives to trade with Chinese also because the cost has gone up by tens folds.</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;Times New Roman&quot;">He said that many businessmen had to give up their trade and run away as their goods had been blocked at the border for the past 11 months. Some of them have even changed their business. According to him, those traders who were reliant on China have increased their trade with India, Bangladesh, Thailand and other countries.</span></span></span></span></p>

<p>&nbsp;</p>
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			'image' => '20201203020907_20200303035545_Trade Points in Northern Border to Remain Closed.jpg',
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	(int) 5 => array(
		'Article' => array(
			'id' => '12750',
			'article_category_id' => '1',
			'title' => 'Price of Construction Materials Increasing ',
			'sub_title' => '',
			'summary' => 'December 3: The prices of most of the construction materials have increased since the beginning of the construction season. ',
			'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 3: The prices of most of the construction materials have increased since the beginning of the construction season. Apart from cement, prices of sand and iron rods have also increased. Prices of these construction materials have risen sharply as the government has banned illegal extraction of sand and the prices of iron rods and billets have increased in the international market. However, the price of cement has remained the same. </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;">In Nepal, the time from November to May is considered as the peak season for infrastructure construction. However, construction entrepreneurs are worried about the rise in prices of essential construction materials at the beginning of the season. President of the Federation of Contractors Association of Nepal (FCAN), Ravi Singh, said that the construction sector is facing problems from every aspect at present. </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;">&quot;The government&#39;s decision to ban illegal excavations has led to a shortage of sand in the market,&quot; Singh said, adding, &ldquo;Although these materials are available, they are highly expensive.&rdquo; He said that the demand for sand is high at this time but the shortage is already evident. Construction entrepreneurs have accused middlemen &nbsp;of arbitrarily increasing the price of goods. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
',
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	(int) 6 => array(
		'Article' => array(
			'id' => '12748',
			'article_category_id' => '1',
			'title' => 'Finance Minister Pledges to Cooperate with Private Sector',
			'sub_title' => '',
			'summary' => 'December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During a meeting with the finance minister on Wednesday (December 2), FNCCI President Shekhar Golchha said that they have loads of work to do for the revival of economy and are making preparations to meet the challenges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the FNCCI is making preparations to document a vision for Nepal based on successful models of various countries with the support from international organisations. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The FNCCI is also preparing to present a set of recommendations to the government for the revival of economy after a research involving experts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha informed that several recommendations made by the FNCCI have been included in the monetary policy of the government but the implementation for the welfare of small industries at the local levels has not been possible due to non-cooperation from commercial banks. He also urged the finance minister to implement the provisions of the monetary policy without any change.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha also requested the finance minister to bring stimulus package targeting small enterprises.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During Wednesday&rsquo;s meeting, Finance Minister Poudel pledged to keep the morale of the private sector high and said that the support from private sector was vital to revive the economy that has been badly affected by coronavirus pandemic. He also assured the members of FNCCI that the provisions of monetary policy and the budget will be effectively implemented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel said that he will address the complaints and remove the obstacles in implementing the policies and programmes of the government as per the monetary policy and budget announcement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also urged the private sector not to doubt the intentions of the government towards them and assured that the government views the private sector in a positive manner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Private sector has played a vital role in generating employment opportunities and attaining economic growth,&rdquo; said Minister Poudel, adding, &ldquo;We have realized the importance of private sector and therefore we are ready to collaborate with the private sector.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 7 => array(
		'Article' => array(
			'id' => '12747',
			'article_category_id' => '1',
			'title' => 'Number of Containers Entering Nepal from Third Countries Declining',
			'sub_title' => '',
			'summary' => 'December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">It has been found that the cargo containers entering Nepal from third countries via Indian ports have reduced in the eight months of the current fiscal year 2020/21.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Kolkata-based Nepal Transit and Warehousing Company Limited (NTWC), cargo entering Nepal from Kolkata between April to November 2020 has declined by 20 percent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As of November-end of current fiscal year, a total of 55,664 containers left for Nepal from Indian ports, informed Laxman Khadka, chief of NTWC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Among them, 34,017 containers arrived in Nepal from Kolkata while 21,647 arrived from Visakhapatnam.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During the corresponding period of last fiscal year 2019/20, a total of 69,945 such containers had entered Nepal via India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the government has lifted lockdown and prohibitory order, the impact of coronavirus on foreign trade is yet to recede. Although Nepal&rsquo;s bilateral trade with India has improved in the recent months, it is evident from the figures that the country&rsquo;s overall foreign trade has been declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The country&rsquo;s economy is crawling back to pre-Covid-19 situation after the government lifted most of the restrictions since around two months ago. There has been some improvement in production after the market started reopening.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">However, stakeholders believe that it will take almost one year for the economy to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Babulal Chachan, chairman of Chachan Group, says that the countries industries were operating at 15 to 20 percent capacity during the lockdown period which was 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;Bangla MN&quot;">The impact of the lockdown is now visible in the country&rsquo;s foreign trade, says industrialist Pradeep Kedia. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialists and entrepreneurs are of the view that the country&rsquo;s economy will not return to normalcy as long as the fear of coronavirus persists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialist Rajesh Kyal says that they are fearful of another lockdown at a time when the industries are picking up pace because there has been a rise in infection in the 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;Bangla MN&quot;">&ldquo;We are still fearful of another round of lockdown. Therefore, the industries are not able to operate in full capacity,&rdquo; said Kyal</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12744',
			'article_category_id' => '1',
			'title' => 'House Panel, NPC to Study Impact of Coronavirus on Big Projects',
			'sub_title' => '',
			'summary' => 'December 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.',
			'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 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.</span></span></span></span></p>

<p><span 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 parliamentary committee as well as the National Planning Commission (NPC) have shown great concern after the big projects of the country failed to pick up pace.&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;">The National Concern and Coordination Committee of upper house has formed a sub-committee to study the impact of coronavirus on national pride projects while the vice chairman of the National Planning Commission Dr Pushpa Kandel has started field inspection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairperson of the National Concern and Coordination Committee Dil Kumari Rawal Thapa informed that the sub-committee members will make a field visit to the project sites and hold discussions with stakeholders. Then the committee will issue a directive with recommendations to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Some of the national pride projects that have failed to meet the meet the deadline include Melamchi Water Supply Project, Sikta Irrigation Project, Rani-Jamara Kularia and Babai Irrigation Project among others. Those projects have been facing problems of manpower shortage and transportation.&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;">Preliminary study suggests that the East-West Electric Railway has also been delayed due to coronavirus while other projects affected by the pandemic include the Mid-Hill Highway, North-South (Koshi) Highway, Kaligandaki Corridor, Karnali Highway and Postal Highway. The Kathmandu-Tarai Fast Track is also facing some problem in &ldquo;cutting and filling&rdquo;, states the preliminary study of NPC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NPC Vice Chairperson Kandel informed that they will conduct a detailed study and inform the government about the current status of the projects.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12746',
			'article_category_id' => '1',
			'title' => 'Central Bank to Collect Rs 50 Billion from Market',
			'sub_title' => '',
			'summary' => 'December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Banks and financial institutions (BFIs) interested in depositing their money at the central bank were instructed to present their proposals for fixing the interest rate through online medium not later than 2 pm on Wednesday (December 2). NRB said that first preference will be given to the proposals with lower interest rates.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank will make payment of the interest as well as deposited amount on December 30 when the 28-day maturity period ends.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12743',
			'article_category_id' => '1',
			'title' => 'Insurance Board makes it Mandatory for Covering Agriculture Insurance',
			'sub_title' => '',
			'summary' => 'December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business. This provision has come into force after the Insurance Board issued the Agriculture and Livestock Insurance Directive 2077 on Monday (December 1).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Insurance Board, this new provision will be implemented from the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The directive mentions that insurance companies must cover 5 percent insurance for the agriculture sector from its annual sales of insurance policies. The board officials said that they made such provision due to lacklusture approach of insurance companies toward agriculture insurance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Insurance Board has classified agriculture insurance into to categories, namely vegetation and livestock insurance. Insurance companies can also issue short-term insurance policies from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for a technical expert to be present while covering agriculture insurance. The technician is entitled to receive 5 percent commission from the insurance amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">From now on, insurance companies cannot fix the insurance amount for a particular product based on assumption or approximate value. They will also have to keep digital records by taking pictures and videos, the new directive states.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for surveyor for evaluation who has a minimum of proficiency certificate level degree and has taken permission from the board for the survey. The directive states that the remunerations of the surveyors can be determined by the insurance companies.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12741',
			'article_category_id' => '1',
			'title' => 'Air Service between Nepal and India to Resume from Next Week',
			'sub_title' => '',
			'summary' => 'December 2: Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 2: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Ministry of Culture, Tourism and Civil Aviation is preparing to grant permission to resume air service between the two countries following a decision by the Council of Ministers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Spokesperson at the tourism ministry Kamal Prasad Bhattarai confirmed that the ministry is preparing to resume flights between the two countries. He informed that the flights will resume not later than ten days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The preparation to resume flights between Nepal and India is in final phase. We will resume flights as soon as possible by adopting required security measures,&rdquo; said Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government is preparing to allow two flights a day between Kathmandu and New Delhi for the time being. Only one airline company each from Nepal and India will be granted permission to operate flights in the initial period, said sources at the ministry. The ministry informed that additional flights will be operated as per the requirement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of India had proposed Nepal to resume air service based on the concept of &ldquo;air bubble&rdquo;. The proposal was endorsed by the cabinet on November 25. Based on that decision, the ministry is preparing to send a positive response to the proposal of India. After that, the Civil Aviation Authority of Nepal (CAAN) will sign a technical agreement with its Indian counterpart agency. According to Spokesperson Bhattarai, flights will resume after both the airlines regulatory bodies of Nepal and India prepare flight protocols.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of Nepal had suspended regular flights since March 22 to control the spread of coronavirus. Regular flights resumed from September 1 but flights to India remained suspended due to high rate of infection in the southern neighboring country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12742',
			'article_category_id' => '1',
			'title' => 'Issue of Project Extension Likely to Resurface',
			'sub_title' => '',
			'summary' => 'December 2: The issue of deadline extension of construction projects is likely to resurface again. ',
			'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 2: The issue of deadline extension of construction projects is likely to resurface again. The government has been making necessary preparations not to extend the deadline of projects whose contract ended in April. However, construction companies have been exerting pressure on the government to extend the contracts of 6000 small and big projects by a year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is positive about extending the contracts of the projects considering the impact of lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Roads Keshav Kumar Sharma informed that the government is preparing to extend the deadline of the projects that were supposed to be completed between March 24 and July 21.</span></span></span></span></p>

<p><span 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 government had decided to extend the deadline of only those projects whose term expired during the lockdown period by six months,&rdquo; said Sharma. &ldquo;But the government is positive about extending the terms of those projects as well whose terms expired after the lockdown period. They will also get deadline extension,&rdquo; added 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;">However, he made it clear that those projects which were supposed to be completed before the lockdown period will not get any extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Contractors Association of Nepal, the umbrella body of construction companies, blame the government for the delay in construction work. FCAN President Ravi Singh says that the wrong decision taken by the government has caused delay because the works were affected while correcting the government decisions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh said that they have demanded extension of deadline of 6000 projects because the construction works were hampered by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh reminded that it took nine months to correct a decision taken as per the Public Procurement Act.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 13 => array(
		'Article' => array(
			'id' => '12740',
			'article_category_id' => '1',
			'title' => 'Supply of Vegetables up at Kalimati Market',
			'sub_title' => '',
			'summary' => 'December 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. ',
			'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 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. The supply of vegetables, which had been declining since the start of the lockdown, had not been able to increase even after the lockdown was lifted. However, the supply system has been slowly improving since the last one week. </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;">According to the Kalimati Fruits and Vegetable Market Development Committee, only 300 to 400 tons of vegetables used to enter Kalimati daily. The supply has improved since last Monday. </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;">According to the committee, 600 tons of vegetables and fruits were imported on November 23, 659 tons on November 24, 600 tons on November 25, 600 tons on November 26, 500 tons on November 27 and 633 tons on November 28. According to the data kept by the committee, up to 700-800 tons of vegetables and fruits enter Kalimati daily under normal circumstances. A total of 296 tons of vegetables had entered Kalimati on October 24. </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;">Executive Director of the committee Binod Kumar Bhattarai said that the supply of vegetables and fruits has been improving after Tihar. According to him, the amoount of vegetables including cauliflowers, tomatoes and potatoes has increased in Kalimati after Tihar. </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;">Local suppliers say that they have also increased the supply of vegetables as the number of people coming to Kathmandu after Tihar and Chhath has increased. Gita Prasad Acharya, chairperson of the Kalimati Fruits and Vegetables Entrepreneurs&rsquo; Association said that the supply has also increased along with the increase in consumption of vegetables after the festival. He said that another reason for the increase in supply was the increase in domestic production. </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;">Consumption of vegetables had reduced as hotels, restaurants, schools, colleges and hostels were closed for a long time due to the lockdown. However, this situation is currently improving.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12739',
			'article_category_id' => '1',
			'title' => 'Flow of Concessional Loan Increasing',
			'sub_title' => '',
			'summary' => 'December 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.',
			'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 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As of mid-October, banks have invested Rs 72.46 billion under the heading of concessional loan. The investment under concessional loan&nbsp; was less than Rs 64.95 billion till mid-September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, BFIs invested Rs 7.51 billion as concessional loan within a period of just one month. Bankers say that the flow of loan under this heading was affected to some extent after the government imposed lockdown in late March.</span></span></span></span></p>

<p><span 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 central bank informed that commercial banks, development banks and finance companies have provided majority of loans under the heading of concessional loan to the agriculture sector. Out of Rs 72 billion concessional loans provided till mid-October, 84.43 percent has been provided to the agriculture sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, a total of 27,369 individuals have taken Rs 61.25 billion concessional loan for commercial farming and animal husbandry. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">BFIs have provided Rs 1.06 billion loan without any collateral. The remaining amount of Rs 60.01 billion has been provided against collateral, shows data kept by the NRB.</span></span></span></span></p>

<p><span 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 heading of concessional loan, farmers can avail up to Rs 50 million per person at 5 percent interest rate. Loan more than Rs 50 million can be provided at 2 percent interest rate.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks and financial institutions fix the rate of interest by adding 2 percent to the base rate. The government provides 6 percent concession for women entrepreneurship while banks are entitled to receive 5 percent concession for all other categories under the concessional loan. &nbsp;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 0 => array(
		'Article' => array(
			'id' => '12756',
			'article_category_id' => '1',
			'title' => 'Nepal yet to Remove Cannabis from List of Harmful Drugs ',
			'sub_title' => '',
			'summary' => 'December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">December 4: It has been ten months since a motion of public interest was registered in parliament for removing the legal restrictions on the use of cannabis in Nepal. However, the parliament has not held any discussion regarding the issue.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The proposal for farming cannabis was registered in the parliament in late February by the leaders of the ruling Nepal Communist Party. The draft bill is gathering dust because it does not fall on the priority list of parliament. </span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Lawmaker Sher Bahadur Tamang, a member of parliament representing the ruling party, says that the bill must be endorsed by the winter session of parliament.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">&ldquo;This issue was in the backburner due to coronavirus and budget announcement but it shouldn&rsquo;t be ignored anymore,&rdquo; says Tamang.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">MP Tamang further said that Speaker Agni Prasad Sapkota has already made a commitment to forward the bill for discussion and therefore he is assured that new laws will come into effect soon.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">At a time when production and distribution of cannabis has been banned in Nepal, the United Nations has removed cannabis from the list of dangerous drugs.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The UN Commission on Narcotic Drugs on Wednesday (December 2) voted to remove cannabis and cannabis resin from a category of the world&#39;s most dangerous drugs. The Vienna-based UN agency said in a statement that it had voted 27-25, with one abstention, to follow the World Health Organization&#39;s recommendation. Nepal also voted in favour of removing cannabis from the list.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended medicinal use of marijuana and scientific research of cannabis.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The WHO has recommended removal of cannabis and cannabis resin from Schedule IV of the 1961 Convention on Narcotic Drugs. Until now, cannabis had been listed with heroin and several other opioids.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">The agency voted to leave cannabis and cannabis resin on the list of Schedule I drugs, which also include cocaine, morphine, opium and painkiller sold as OxyContin.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">Although Nepal has now signed the new convention, the Narcotic Drugs Control Act 2033 still categorizes cannabis as harmful drugs of strong nature.</span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt">After cannabis was banned in Nepal, India&rsquo;s product flourished in the international market. So, there was pressure for Nepal not to lift the ban.</span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12755',
			'article_category_id' => '1',
			'title' => 'Central Bank to Amend its Decisions after Quarterly Review of Monetary Policy',
			'sub_title' => '',
			'summary' => 'December 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.',
			'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 4: Nepal Rastra Bank (NRB) is preparing to amend half a dozen of its provisions after a quarterly review of the monetary policy of the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The central bank has concluded that the country&rsquo;s economy is yet to revive from the impacts of coronavirus although the balance of payments, foreign exchange reserve and inflation are all satisfactory.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NRB is preparing to ensure that the interest rate for savings is not more than five percentage points than the interest rate fixed by banks for fixed deposits. The central bank took such decision after the banks were found lowering the rate of interest for savings.</span></span></span></span></p>

<p><span 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 central bank is also making necessary provisions so that the difference between the rate of interest among various kinds of deposit accounts is not more than five percentage points. However, this provision will not be applicable for call deposits.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Likewise, NRB is also preparing to direct banks and financial institutions (BFIs) not to auction the collateral of the depositors who have been affected by Covid-19 provided that they do not have more than six months of pending interest rates to pay. NRB Governor Maha Prasad Adhikari informed that this concept has been managed to provide relief to Covid-19 victims.</span></span></span></span></p>

<p><span 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 central bank is also making arrangements to discourage unhealthy competition among banks for swapping loans. NRB has fixed 0.15 percent swap charge for prepayment of loans. Officials of NRB believe this will prevent banks from swapping loans of customers to some extent. </span></span></span></span></p>

<p><span 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 central bank is also preparing to make arrangement for advance payment and to determine the timeframe for payment of loans taken on stable interest rate in order to mitigate the risk as well as for resource management. The central bank had instructed BFIs to issue long-term personal loans at a stable interest rate on October 17, to ensure that the banks do not change the rate of interest later on. Governor Adhikari says that the central bank took such decision at the right time.</span></span></span></span></p>

<p><span 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 decisions take during the Covid-19 pandemic is focused on protecting the customers rather than the regulatory body. We took the decision of stable interest rate at the right moment,&rdquo; said Adhikari.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12753',
			'article_category_id' => '1',
			'title' => 'Settle Covid-19 Insurance Claims within 3 Days: Finance Ministry',
			'sub_title' => '',
			'summary' => 'December 4: The Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. ',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">December 4: The<strong> </strong>Ministry of Finance has directed the Insurance Board to facilitate in settlement of claims related to coronavirus within three days. </span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The finance ministry reportedly issued a fresh call to the Insurance Board following complaints that the beneficiaries were not receiving compensation or were facing hassles despite the government&rsquo;s clear instructions to release the amount to those who meet all the criteria. </span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">Earlier on November 3, the finance ministry had instructed the board to settle such claims within seven days.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry noted that only a handful of cases have been settled so far and the board has also failed to present daily progress report to the ministry regularly.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the state-run national news agency (RSS), the ministry has instructed the board to ensure that the applicants who fulfill all the criteria related to coronavirus insurance claims must receive the compensation amount within three days and the report must be submitted to the ministry on a daily basis.</span></span></span></span></p>

<p>&nbsp;</p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The ministry has also directed the concerned authorities to complete the verification process as soon as possible, RSS reported.</span></span></span></span></p>

<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:Arial">The board has also been directed to publish the details related to coronavirus insurance including the verifications done so far, number of claims settle till date, related documents, false claims among others.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12752',
			'article_category_id' => '1',
			'title' => 'Gold Dealers Back in Business for Marriage Season',
			'sub_title' => '',
			'summary' => 'December 3: The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control coronavirus.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 3: </span></span><span style="font-size:14.0pt"><span style="font-family:Arial">The gold and silver market of Nepal is back in business as normal almost after ten months following a setback caused by skyrocketing price and lockdown imposed by the government to control 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:Arial">The business of gold and silver is generally high during this month (mid-November to mid-December) due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to stakeholders, around 20 to 30 kilograms of gold are consumed on a daily basis at present. There is a tradition of wearing gold jewelries and presenting gold ornaments as gifts during marriage festivals in Nepal. This is the reason why the business of gold increases during the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Businessmen involved in this sector say that they are doing brisk business due to the marriage season.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The business of gold and silver had been badly affected since last year due to a sharp hike in price of the precious yellow metal. Despite the rise in price, gold business was satisfactory during last winter&rsquo;s marriage season. The business had remained at an all time low with the emergence of coronavirus. The business was not encouraging even during festivals like Dashain, Tihar and Teej, according to the gold and silver dealers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">However, former president of the Federation of Nepal Gold and Silver Dealers Association Tej Ratna Shakya believes that the business is getting back on track now.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;The business of gold and silver was extremely low due to price hike and coronavirus ever since last winter,&rdquo; said Shakya, adding, &ldquo;But now, it has become somewhat normal.&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:Arial">However, Shakya says that their business is still very low compared to normal days. He says that the daily consumption of gold during normal days used to be over 40 kg. But it is only half the amount at present.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;We take this as a positive indication,&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:Arial">Shakya informed that although the price of gold has declined at the moment, there are indications that the price may rise again. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;This business is likely to pick up pace only in the upcoming summer,&rdquo; says Shakya.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The gold business was affected ever since last July due to the trade war between the USA and China. In addition to that, the coronavirus pandemic further affected the 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:Arial">The price of gold in Nepal is fixed as per the price in the international market.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12751',
			'article_category_id' => '1',
			'title' => 'Businessmen Increasing Trade with Other Countries due to Obstruction at Nepal-China Border ',
			'sub_title' => '',
			'summary' => 'December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet.',
			'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:&quot;Times New Roman&quot;">December 3: Chinese customs points, which have remained closed since January last year, have not come into full operation yet. Chinese side has been delivering up to five containers of goods daily across the border to Nepal in an attempt to avoid coronavirus from spreading.</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;Times New Roman&quot;">However, Nepali containers have not been able to cross the border due to the restriction imposed by China. </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;Times New Roman&quot;">President of the Nepal Himalayan Cross-Border Trade Association, Bachchu Poudel, informed that businessmen have started increasing their trade with other countries after the goods were stopped across the border. </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;Times New Roman&quot;">The border checkpoints have been closed since January. The two countries had agreed to open the checkpoints from last May, but the checkpoints have not been fully operational.</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;Times New Roman&quot;">He added that up to five containers of goods are being imported from the transit point where 100 containers of goods used to be imported daily during normal days. He added that many businessmen have been forced to quit their businesses and have been looking for alternatives to Chinese goods.</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;Times New Roman&quot;">He further informed that Chinese containers have been dropping the goods up to the border as Nepali containers could not cross the border, adding that the traders have started looking for alternatives to trade with Chinese also because the cost has gone up by tens folds.</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;Times New Roman&quot;">He said that many businessmen had to give up their trade and run away as their goods had been blocked at the border for the past 11 months. Some of them have even changed their business. According to him, those traders who were reliant on China have increased their trade with India, Bangladesh, Thailand and other countries.</span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12750',
			'article_category_id' => '1',
			'title' => 'Price of Construction Materials Increasing ',
			'sub_title' => '',
			'summary' => 'December 3: The prices of most of the construction materials have increased since the beginning of the construction season. ',
			'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 3: The prices of most of the construction materials have increased since the beginning of the construction season. Apart from cement, prices of sand and iron rods have also increased. Prices of these construction materials have risen sharply as the government has banned illegal extraction of sand and the prices of iron rods and billets have increased in the international market. However, the price of cement has remained the same. </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;">In Nepal, the time from November to May is considered as the peak season for infrastructure construction. However, construction entrepreneurs are worried about the rise in prices of essential construction materials at the beginning of the season. President of the Federation of Contractors Association of Nepal (FCAN), Ravi Singh, said that the construction sector is facing problems from every aspect at present. </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;">&quot;The government&#39;s decision to ban illegal excavations has led to a shortage of sand in the market,&quot; Singh said, adding, &ldquo;Although these materials are available, they are highly expensive.&rdquo; He said that the demand for sand is high at this time but the shortage is already evident. Construction entrepreneurs have accused middlemen &nbsp;of arbitrarily increasing the price of goods. </span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 6 => array(
		'Article' => array(
			'id' => '12748',
			'article_category_id' => '1',
			'title' => 'Finance Minister Pledges to Cooperate with Private Sector',
			'sub_title' => '',
			'summary' => 'December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">December 3: Finance Minister Bishnu Poudel pledge to work in collaboration with the private sector while extending his greetings to the newly elected members of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During a meeting with the finance minister on Wednesday (December 2), FNCCI President Shekhar Golchha said that they have loads of work to do for the revival of economy and are making preparations to meet the challenges.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He further said that the FNCCI is making preparations to document a vision for Nepal based on successful models of various countries with the support from international organisations. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">The FNCCI is also preparing to present a set of recommendations to the government for the revival of economy after a research involving experts.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha informed that several recommendations made by the FNCCI have been included in the monetary policy of the government but the implementation for the welfare of small industries at the local levels has not been possible due to non-cooperation from commercial banks. He also urged the finance minister to implement the provisions of the monetary policy without any change.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Golchha also requested the finance minister to bring stimulus package targeting small enterprises.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">During Wednesday&rsquo;s meeting, Finance Minister Poudel pledged to keep the morale of the private sector high and said that the support from private sector was vital to revive the economy that has been badly affected by coronavirus pandemic. He also assured the members of FNCCI that the provisions of monetary policy and the budget will be effectively implemented.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Finance Minister Poudel said that he will address the complaints and remove the obstacles in implementing the policies and programmes of the government as per the monetary policy and budget announcement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">He also urged the private sector not to doubt the intentions of the government towards them and assured that the government views the private sector in a positive manner.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">&ldquo;Private sector has played a vital role in generating employment opportunities and attaining economic growth,&rdquo; said Minister Poudel, adding, &ldquo;We have realized the importance of private sector and therefore we are ready to collaborate with the private sector.&rdquo;</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 7 => array(
		'Article' => array(
			'id' => '12747',
			'article_category_id' => '1',
			'title' => 'Number of Containers Entering Nepal from Third Countries Declining',
			'sub_title' => '',
			'summary' => 'December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. ',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 3: The number of cargo containers arriving in Nepal from third countries has been declining, according to the latest data. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">It has been found that the cargo containers entering Nepal from third countries via Indian ports have reduced in the eight months of the current fiscal year 2020/21.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Kolkata-based Nepal Transit and Warehousing Company Limited (NTWC), cargo entering Nepal from Kolkata between April to November 2020 has declined by 20 percent. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">As of November-end of current fiscal year, a total of 55,664 containers left for Nepal from Indian ports, informed Laxman Khadka, chief of NTWC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Among them, 34,017 containers arrived in Nepal from Kolkata while 21,647 arrived from Visakhapatnam.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">During the corresponding period of last fiscal year 2019/20, a total of 69,945 such containers had entered Nepal via India.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Although the government has lifted lockdown and prohibitory order, the impact of coronavirus on foreign trade is yet to recede. Although Nepal&rsquo;s bilateral trade with India has improved in the recent months, it is evident from the figures that the country&rsquo;s overall foreign trade has been declining.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The country&rsquo;s economy is crawling back to pre-Covid-19 situation after the government lifted most of the restrictions since around two months ago. There has been some improvement in production after the market started reopening.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">However, stakeholders believe that it will take almost one year for the economy to return to the previous level.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Babulal Chachan, chairman of Chachan Group, says that the countries industries were operating at 15 to 20 percent capacity during the lockdown period which was 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;Bangla MN&quot;">The impact of the lockdown is now visible in the country&rsquo;s foreign trade, says industrialist Pradeep Kedia. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialists and entrepreneurs are of the view that the country&rsquo;s economy will not return to normalcy as long as the fear of coronavirus persists.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Industrialist Rajesh Kyal says that they are fearful of another lockdown at a time when the industries are picking up pace because there has been a rise in infection in the 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;Bangla MN&quot;">&ldquo;We are still fearful of another round of lockdown. Therefore, the industries are not able to operate in full capacity,&rdquo; said Kyal</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 8 => array(
		'Article' => array(
			'id' => '12744',
			'article_category_id' => '1',
			'title' => 'House Panel, NPC to Study Impact of Coronavirus on Big Projects',
			'sub_title' => '',
			'summary' => 'December 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.',
			'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 2: An upper house panel has formed a sub-committee to study the impact of coronavirus on national pride projects.</span></span></span></span></p>

<p><span 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 parliamentary committee as well as the National Planning Commission (NPC) have shown great concern after the big projects of the country failed to pick up pace.&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;">The National Concern and Coordination Committee of upper house has formed a sub-committee to study the impact of coronavirus on national pride projects while the vice chairman of the National Planning Commission Dr Pushpa Kandel has started field inspection.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Chairperson of the National Concern and Coordination Committee Dil Kumari Rawal Thapa informed that the sub-committee members will make a field visit to the project sites and hold discussions with stakeholders. Then the committee will issue a directive with recommendations to the government.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Some of the national pride projects that have failed to meet the meet the deadline include Melamchi Water Supply Project, Sikta Irrigation Project, Rani-Jamara Kularia and Babai Irrigation Project among others. Those projects have been facing problems of manpower shortage and transportation.&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;">Preliminary study suggests that the East-West Electric Railway has also been delayed due to coronavirus while other projects affected by the pandemic include the Mid-Hill Highway, North-South (Koshi) Highway, Kaligandaki Corridor, Karnali Highway and Postal Highway. The Kathmandu-Tarai Fast Track is also facing some problem in &ldquo;cutting and filling&rdquo;, states the preliminary study of NPC.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">NPC Vice Chairperson Kandel informed that they will conduct a detailed study and inform the government about the current status of the projects.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 9 => array(
		'Article' => array(
			'id' => '12746',
			'article_category_id' => '1',
			'title' => 'Central Bank to Collect Rs 50 Billion from Market',
			'sub_title' => '',
			'summary' => 'December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Nepal Rastra Bank is preparing to collect Rs 50 billion from the market. The central bank will initiate the process to mop the amount for a period of 28 days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Banks and financial institutions (BFIs) interested in depositing their money at the central bank were instructed to present their proposals for fixing the interest rate through online medium not later than 2 pm on Wednesday (December 2). NRB said that first preference will be given to the proposals with lower interest rates.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The central bank will make payment of the interest as well as deposited amount on December 30 when the 28-day maturity period ends.</span></span></span></span></p>

<p>&nbsp;</p>
',
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	(int) 10 => array(
		'Article' => array(
			'id' => '12743',
			'article_category_id' => '1',
			'title' => 'Insurance Board makes it Mandatory for Covering Agriculture Insurance',
			'sub_title' => '',
			'summary' => 'December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">December 2: Non-life insurance companies will now have to mandatorily cover a minimum of 5 percent insurance for the agriculture sector from its total annual business. This provision has come into force after the Insurance Board issued the Agriculture and Livestock Insurance Directive 2077 on Monday (December 1).</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">According to the Insurance Board, this new provision will be implemented from the current fiscal year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The directive mentions that insurance companies must cover 5 percent insurance for the agriculture sector from its annual sales of insurance policies. The board officials said that they made such provision due to lacklusture approach of insurance companies toward agriculture insurance.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Insurance Board has classified agriculture insurance into to categories, namely vegetation and livestock insurance. Insurance companies can also issue short-term insurance policies from now onward.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for a technical expert to be present while covering agriculture insurance. The technician is entitled to receive 5 percent commission from the insurance amount.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">From now on, insurance companies cannot fix the insurance amount for a particular product based on assumption or approximate value. They will also have to keep digital records by taking pictures and videos, the new directive states.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The new directive also has a provision for surveyor for evaluation who has a minimum of proficiency certificate level degree and has taken permission from the board for the survey. The directive states that the remunerations of the surveyors can be determined by the insurance companies.</span></span></span></span></p>

<p>&nbsp;</p>

<p>&nbsp;</p>
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	(int) 11 => array(
		'Article' => array(
			'id' => '12741',
			'article_category_id' => '1',
			'title' => 'Air Service between Nepal and India to Resume from Next Week',
			'sub_title' => '',
			'summary' => 'December 2: Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.',
			'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Devanagari Sangam MN&quot;">December 2: </span></span><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Commercial flights between Nepal and India will resume from next week after a long disruption due to Covid-19.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Ministry of Culture, Tourism and Civil Aviation is preparing to grant permission to resume air service between the two countries following a decision by the Council of Ministers.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">Spokesperson at the tourism ministry Kamal Prasad Bhattarai confirmed that the ministry is preparing to resume flights between the two countries. He informed that the flights will resume not later than ten days.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">&ldquo;The preparation to resume flights between Nepal and India is in final phase. We will resume flights as soon as possible by adopting required security measures,&rdquo; said Bhattarai.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The government is preparing to allow two flights a day between Kathmandu and New Delhi for the time being. Only one airline company each from Nepal and India will be granted permission to operate flights in the initial period, said sources at the ministry. The ministry informed that additional flights will be operated as per the requirement.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of India had proposed Nepal to resume air service based on the concept of &ldquo;air bubble&rdquo;. The proposal was endorsed by the cabinet on November 25. Based on that decision, the ministry is preparing to send a positive response to the proposal of India. After that, the Civil Aviation Authority of Nepal (CAAN) will sign a technical agreement with its Indian counterpart agency. According to Spokesperson Bhattarai, flights will resume after both the airlines regulatory bodies of Nepal and India prepare flight protocols.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Bangla MN&quot;">The Government of Nepal had suspended regular flights since March 22 to control the spread of coronavirus. Regular flights resumed from September 1 but flights to India remained suspended due to high rate of infection in the southern neighboring country.</span></span></span></span></p>

<p>&nbsp;</p>
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	(int) 12 => array(
		'Article' => array(
			'id' => '12742',
			'article_category_id' => '1',
			'title' => 'Issue of Project Extension Likely to Resurface',
			'sub_title' => '',
			'summary' => 'December 2: The issue of deadline extension of construction projects is likely to resurface again. ',
			'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 2: The issue of deadline extension of construction projects is likely to resurface again. The government has been making necessary preparations not to extend the deadline of projects whose contract ended in April. However, construction companies have been exerting pressure on the government to extend the contracts of 6000 small and big projects by a year.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The government is positive about extending the contracts of the projects considering the impact of lockdown imposed on March 24.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Director General of the Department of Roads Keshav Kumar Sharma informed that the government is preparing to extend the deadline of the projects that were supposed to be completed between March 24 and July 21.</span></span></span></span></p>

<p><span 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 government had decided to extend the deadline of only those projects whose term expired during the lockdown period by six months,&rdquo; said Sharma. &ldquo;But the government is positive about extending the terms of those projects as well whose terms expired after the lockdown period. They will also get deadline extension,&rdquo; added 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;">However, he made it clear that those projects which were supposed to be completed before the lockdown period will not get any extension. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">The Federation of Contractors Association of Nepal, the umbrella body of construction companies, blame the government for the delay in construction work. FCAN President Ravi Singh says that the wrong decision taken by the government has caused delay because the works were affected while correcting the government decisions.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh said that they have demanded extension of deadline of 6000 projects because the construction works were hampered by coronavirus pandemic.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Singh reminded that it took nine months to correct a decision taken as per the Public Procurement Act.</span></span></span></span></p>

<p>&nbsp;</p>
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			'id' => '12740',
			'article_category_id' => '1',
			'title' => 'Supply of Vegetables up at Kalimati Market',
			'sub_title' => '',
			'summary' => 'December 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. ',
			'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 1: The supply of vegetables has been increasing in the Kalimati Fruits and Vegetables Market in recent days. The supply of vegetables, which had been declining since the start of the lockdown, had not been able to increase even after the lockdown was lifted. However, the supply system has been slowly improving since the last one week. </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;">According to the Kalimati Fruits and Vegetable Market Development Committee, only 300 to 400 tons of vegetables used to enter Kalimati daily. The supply has improved since last Monday. </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;">According to the committee, 600 tons of vegetables and fruits were imported on November 23, 659 tons on November 24, 600 tons on November 25, 600 tons on November 26, 500 tons on November 27 and 633 tons on November 28. According to the data kept by the committee, up to 700-800 tons of vegetables and fruits enter Kalimati daily under normal circumstances. A total of 296 tons of vegetables had entered Kalimati on October 24. </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;">Executive Director of the committee Binod Kumar Bhattarai said that the supply of vegetables and fruits has been improving after Tihar. According to him, the amoount of vegetables including cauliflowers, tomatoes and potatoes has increased in Kalimati after Tihar. </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;">Local suppliers say that they have also increased the supply of vegetables as the number of people coming to Kathmandu after Tihar and Chhath has increased. Gita Prasad Acharya, chairperson of the Kalimati Fruits and Vegetables Entrepreneurs&rsquo; Association said that the supply has also increased along with the increase in consumption of vegetables after the festival. He said that another reason for the increase in supply was the increase in domestic production. </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;">Consumption of vegetables had reduced as hotels, restaurants, schools, colleges and hostels were closed for a long time due to the lockdown. However, this situation is currently improving.&nbsp; </span></span></span></span></p>

<p>&nbsp;</p>
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		'Article' => array(
			'id' => '12739',
			'article_category_id' => '1',
			'title' => 'Flow of Concessional Loan Increasing',
			'sub_title' => '',
			'summary' => 'December 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.',
			'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 1: The flow of concessional loan from banks and financial institutions (BFIs) has increased after the Nepal Rastra Bank (NRB) made it mandatory for BFIs to issue loans under this heading.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">As of mid-October, banks have invested Rs 72.46 billion under the heading of concessional loan. The investment under concessional loan&nbsp; was less than Rs 64.95 billion till mid-September.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, BFIs invested Rs 7.51 billion as concessional loan within a period of just one month. Bankers say that the flow of loan under this heading was affected to some extent after the government imposed lockdown in late March.</span></span></span></span></p>

<p><span 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 central bank informed that commercial banks, development banks and finance companies have provided majority of loans under the heading of concessional loan to the agriculture sector. Out of Rs 72 billion concessional loans provided till mid-October, 84.43 percent has been provided to the agriculture sector.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">According to the central bank, a total of 27,369 individuals have taken Rs 61.25 billion concessional loan for commercial farming and animal husbandry. </span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">BFIs have provided Rs 1.06 billion loan without any collateral. The remaining amount of Rs 60.01 billion has been provided against collateral, shows data kept by the NRB.</span></span></span></span></p>

<p><span 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 heading of concessional loan, farmers can avail up to Rs 50 million per person at 5 percent interest rate. Loan more than Rs 50 million can be provided at 2 percent interest rate.</span></span></span></span></p>

<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:&quot;Arial Unicode MS&quot;">Banks and financial institutions fix the rate of interest by adding 2 percent to the base rate. The government provides 6 percent concession for women entrepreneurship while banks are entitled to receive 5 percent concession for all other categories under the concessional loan. &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