December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries.…
December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries.…
December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun.…
December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty…
December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November…
November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock.…
November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi.…
November 29: Cases of banking fraud have been increasing in Nepal every…
November 29: Chandra Prasad Dhakal has been elected as the senior vice president of the Federation of Nepalese Chambers of Commerce and Industry…
November 27: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off.…
November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli.…
November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus.…
November 27: The Supreme Court has refused to intervene in the 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a…
November 27: India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal.…
November 26: The government has collected property details worth Rs 41 billion of 2,300 government…
November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs).…
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', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. The overseas cargo companies providing services in Nepal are yet to get registered in the country. Those companies have been operating in Nepal just because they have been registered in neighbouring 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:"Arial Unicode MS"">As the cargo companies are not registered in Nepal, they have been charging the local importers exorbitantly high fares for their services. Nepali importers say that the government has become a mute spectator to the extortion of foreign shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government authorities easily avoid this topic saying that the foreign companies are not registered in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Nepal and India had jointly implemented transshipment model for transport of goods through Indian ports with the objective of reducing the transshipment cost, this has had very little impact on the monopoly of the shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the importers had been claiming that they have had to incur huge cost due to the charges of customs house agents. But now, they claim that the cost has not reduced because of the arbitrary charges fixed by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Treasurer of Nepal Freight Forward Association Naresh Agrawal says that although there has been some improvements in the process of customs clearance, the conduct of shipping companies has not changed.</span></span></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 Unicode MS"">It is estimated that the transportation cost of landlocked countries worldwide is 20 percent more than the countries that have access to sea ports. However, Nepali importers say that they have to bear 40 percent additional transportation cost. </span></span></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 Unicode MS"">Another importer Pradeep Kedia says that the excessive transportation cost prevented them from benefitting from competitive market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment model has reduced the paperwork but has increased the overall transportation charge.</span></span></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 Unicode MS"">“It is because the shipping companies have been charging fares on electronic cargo tracking system under the transshipment model as per their will,” said 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:"Arial Unicode MS"">Other importers say that the transportation cost has increased by 50 percent after the responsibility of transshipment was taken by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Earlier, it was the customs house agents who had been charging high fare. But now, the shipping companies are taking the advantage. It’s like jumping from the frying pan into the fire,” said 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:"Arial Unicode MS"">Currently, 21 shipping companies are operating in Nepal. But none of them fall under the purview of law. These companies are operating in the country without registration.</span></span></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 Unicode MS"">The annual transportation cost for overseas trade is estimated to be around Rs 250 billion. Shipping companies are taking advantage of operating their business in Nepal without being registered here.</span></span></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 Unicode MS"">The government can only control the companies that are registered and had pledged to make a separate law for the shipping companies. But there hasn’t been any progress to this end.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12485', 'image' => '20201201022415_1606759926.Clipboard04.jpg', 'article_date' => '2020-12-01 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12737', 'article_category_id' => '1', 'title' => 'Tourism Minister says Expansion of Bharatpur Airport has Already Started', 'sub_title' => '', 'summary' => 'December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. Speaking at a discussion program organized at Bharatpur Metropolitan City on Sunday, November 29, Minister Bhattarai informed that the process of expansion of the airport has to move ahead by managing the difficulties and obstacles.</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:"Times New Roman"">He further opined that the expansion of Bharatpur Airport is essential to support the potential of Central Nepal and the development of tourism in the region. Minister Bhattarai also added that the barracks and horse stables of the Nepalese Army situated in the project site will be relocated and an emergency air base of the Nepal Army will be located inside the airport premises without affecting the master plan of the airport.</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:"Times New Roman"">Stating that the Bharatpur Airport is in danger at the current situation, he stressed on the need for the Bharatpur Municipal Corporation to demolish the physical infrastructure built against the standards. “Everyone should have positive attitude and support for the construction of the airport,” he added.</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:"Times New Roman"">Bharatpur Metropolitan City’s Mayor Renu Dahal informed that the municipality office aims to make Bharatpur Airport well-organized and well-equipped with night flight service. "The expansion and development of the airport will significantly contribute to the overall development of Chitwan and surrounding districts," she added.</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:"Times New Roman"">Chief of Bharatpur Airport Yogendra Kunwar stressed on the need to expedite the expansion work of the airport which has been stalled for a long time. </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:"Times New Roman"">Director General of the Civil Aviation Department Rajan Pokharel, Director of the Department of Aviation Engineering Pradip Adhikari, battalion commander of Kali Bahadur Battalion Bigyan Dev Khanal and others also expressed their views at the program.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12484', 'image' => '20201201014452_20201011111501_yogesh_bhattarai.jpg', 'article_date' => '2020-12-01 13:44:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12736', 'article_category_id' => '1', 'title' => 'Supreme Court Halts Tender Process to Print Excise Duty Stickers', 'sub_title' => '', 'summary' => 'December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A single bench of Justice Tej Bahadur KC issued the order responding on a writ petition filed by Mohan Raj Ghimire on behalf of Miraj Printing. </span></span></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 Unicode MS"">The apex court order has put on hold the tender process called by the IRD on October 14 seeking international bids for printing the stickers. The department had called for international companies to submit their proposals within November 29.</span></span></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 Unicode MS"">Ghimire had filed the petition stating that the IRD issued the tender by including clauses which Nepali companies could not fulfill, and therefore the decision was biased. The Supreme Court stated that even the Public Procurement Act has a provision under which tender bids called by government should be favourable for the local companies. The court demanded written explanation from the IRD within 15 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:"Arial Unicode MS"">The interim order says that the tender issued by IRD on October 14 has nothing new except one clause which says interested companies should have Intergraph or ISO certificate 14298 instead of Intergraph or ISO certificate 14289, and therefore the tender contradicts the precedent set by the SC on February 24, 2020. In this context, the Supreme Court has ordered the IRD not to move ahead with any of the process related to printing the excise duty stickers until the final decision is taken.</span></span></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 Unicode MS"">Nepali companies argue that the tender favours foreign companies and that the local contractors don’t stand a chance to land the contract as per the criteria fixed in the tender.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Last year, the Supreme Court had ordered the government to launch a study on the capacity of Nepali companies to render their services and to create an environment in which the domestic companies could prove their competitiveness so that the government could promote and protect the local companies in order to make the country’s economy strong and self reliant.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12483', 'image' => '20201201122429_1606693544.Clipboard09.jpg', 'article_date' => '2020-12-01 12:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12735', 'article_category_id' => '1', 'title' => 'Newly Elected FNCCI Members Take Oath of Office', 'sub_title' => '', 'summary' => 'December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).</span></span></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 Unicode MS"">Outgoing president Bhavani Rana administered oath to Golchha as per the provision of FNCCI, which mandates the senior vice president to lead the federation after completing one term.</span></span></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 Unicode MS"">Meanwhile, Golchha administered oath of office to other newly elected members.</span></span></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 Unicode MS"">During the function, Golchha said that he would move ahead by taking all factions into confidence. He stressed on the need of unity among all stakeholders and made a commitment to take all factions of FNCCI on board while implementing the strategy prepared by him for nation building.</span></span></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 Unicode MS"">Meanwhile, newly elected senior vice president Chandra Dhakal said that the ideological disputes among FNCCI members have now come to an end after the successful conclusion of the election. He said that he work in collaboration with President Golchha’s panel for taking the private sector ahead.</span></span></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 Unicode MS"">Dhakal will have to work with Golchha, who was openly backed by his opponent Kishor Pradhan during the recent election held on the occasion of the 54<sup>th</sup> Annual General Meeting of 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 Unicode MS"">Dhakal said that although there were different panels ahead of the election, all sides have to unite and move ahead now for the betterment of the private sector. He pledged to increase commercial activities to attain financial prosperity.</span></span></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 Unicode MS"">Besides Dhakal, other three vice presidents also pledged to unite together for future course of action.</span></span></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 Unicode MS"">Vice President (associates) Ram Chandra Shanghai pledged to work for the welfare of workers and stressed on increasing production and export.</span></span></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 Unicode MS"">Similarly, vice president (commodities) Anjan Shrestha said he would take a lead role for ensuring the rights of the private sector. Likewise, vice president (district/municipalities) Dinesh Shrestha made a commitment to increase the activities of Small and Medium Scale Enterprises (SMEs).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12482', 'image' => '20201201110207_1606693683.Clipboard04.jpg', 'article_date' => '2020-12-01 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12733', 'article_category_id' => '1', 'title' => 'JEMC Starts Printing Excise Duty Stickers', 'sub_title' => '', 'summary' => 'November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A total of 5 million stickers are being printed on a daily basis, according to the state-owned printing press Janak Education Materials Limited (JEMC) which has been awarded the contract to print the stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">JEMC has been assigned to print 700 million pieces of excise duty stickers in the current 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:Arial">Officials at JEMC say that they have increased the rate of printing stickers as per the demand of the Inland Revenue Department.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“We started printing immediately after Tihar. We have managed everything for printing the excise duty stickers,” said Mahesh Prasad Timilsina, director general of JEMC.</span></span></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 finance ministry had decided to hand over the responsibility of printing the excise duty stickers to JEMC for the time being to meet the requirement for 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:Arial">The IRD was under pressure to print the stickers within the country because the process of issuing global tender would be time consuming and would have resulted in shortage of stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the IRD has initiated the process to call international tender for printing an additional 9 billion excise duty stickers abroad.</span></span></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">Last year, when the government had initiated the process of calling tender for international bids, Miraj Printing Solution had filed a writ petition at the Supreme Court stating that the local companies had been deprived of participating in the bidding process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Following the writ petition filed by Mohan Raj Ghimire, the apex court had ordered the government to open tender bids for domestic companies by considering their capacity to print.</span></span></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">Director General of IRD argues that all domestic companies that meet the criteria can also apply for the international bidding process.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12480', 'image' => '20201129034130_20200707042111_Excise duty stickers.jpg', 'article_date' => '2020-11-29 15:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12732', 'article_category_id' => '1', 'title' => 'Solar Plant to be Installed in Gautam Buddha International Airport', 'sub_title' => '', 'summary' => 'November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. The airport project office is preparing to build a solar plant inside the under construction airport premises with the objective of generating required electricity to operate the airport through the plant.</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:"Times New Roman"">Discussions have already started between the Ministry of Energy, Water Resources and Irrigation and the Ministry of Culture, Tourism and Civil Aviation on setting up a solar plant at the airport to supply electricity. In the first phase, a discussion was held between the ministers and other representatives of the two ministries at the Ministry of Energy last Friday, November 27.</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:"Times New Roman"">Ministers Barshaman Pun and Yogesh Bhattarai, Tourism Secretary Yadav Prasad Koirala, Acting Secretary at the Ministry of Energy Praveen Raj Aryal, Joint Secretary Madhu Prasad Bhetwal, Acting Executive Director of the Electricity Authority Hitendra Dev Shakya and officials of the Civil Aviation Authority of Nepal attended the meeting to discuss the matter.</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:"Times New Roman"">The meeting directed the two ministries and the authority to prepare a detailed blueprint for the establishment of the solar plant and submit it to the ministers within a year’s time.</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:"Times New Roman"">A 10 MW capacity solar plant will be operated on the vacant land of Bhairahawa Airport premises with the assistance of the Asian Development Bank.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12479', 'image' => '20201129030718_1606605742.Clipboard04.jpg', 'article_date' => '2020-11-29 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12731', 'article_category_id' => '1', 'title' => 'Banking Fraud on the Rise', 'sub_title' => '', 'summary' => 'November 29: Cases of banking fraud have been increasing in Nepal every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 29: Cases of banking fraud have been increasing in Nepal every year. A total of 8,011 cases of banking fraud have been reported in the country since the last five years. </span></span></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 Unicode MS"">Banking fraud includes check bounce, deceit, conspiracy and misuse of online transaction. </span></span></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 Unicode MS"">According to the Police Headquarters, altogether 46 cases of banking fraud were reported in fiscal year 2015/16 across the country. The number of such cases has been rising every year since then.</span></span></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 Unicode MS"">In FY 2016/17, a total of 93 cases related to banking fraud were reported while the number rose to 776 in FY 2017/18. In FY 2018/19, the number of banking fraud skyrocketed to 3,167 while FY 2019/20 witnessed a total of 3,309 cases of banking fraud. Six hundred and twenty eight cases of banking fraud have been reported in the first four months 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:"Arial Unicode MS"">The Banking Offence and Punishment Act (first amendment) 2073 prohibits unauthorized loan disbursement, unauthorized opening of bank account or payment of money, abuse of electronic means of transaction or unauthorized used of electronic payment, misuse of loan, misuse of banking resources and property. </span></span></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 Unicode MS"">Of late, there has been a rise in instances of cheque bounce.</span></span></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 Unicode MS"">SSP Kuber Kadayat, spokesperson of Nepal Police, says that the rise in number of banking fraud cases is due to an increase in incidents of cheque bounce.</span></span></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 Unicode MS"">“Banking fraud also takes place through internet and online medium. The number of cases related to banking and finance sector has increased,” said SSP Kadayat, adding, “The major reasons for this is the ambition to earn quick money, big aspirations, and rapid urbanization.”</span></span></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 Unicode MS"">It has been found that many instances of banking fraud take place in collusion with the staffers of banks. SSP Kadayat added that most of the offenders have already been booked.</span></span></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 Unicode MS"">Recent studies have revealed that there has been a rise in cases of banking offence with the use of technology and most of the offenders are not involved in the crime directly, said SSP Kadayat.</span></span></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 Unicode MS"">The Central Investigation Bureau (CIB) has been investigation complicated cases of banking fraud. Last month, the CIB arrested around half a dozen people on charges of banking fraud.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12478', 'image' => '20201129015436_QT-banking-fraud.jpg', 'article_date' => '2020-11-29 13:53:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12730', 'article_category_id' => '1', 'title' => 'Chandra Dhakal Elected Senior Vice President of FNCCI', 'sub_title' => '', 'summary' => 'November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">Dhakal defeated his rival Kishor Pradhan to secure the coveted post, which, according to the FNCCI statute, ensures that he will lead the umbrella body of industries and entrepreneurs in the next term. The newly elected senior vice president Dhakal will take the helm of FNCCI from Sekhar Golchha, who will now take charge of the new executive committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the election committee of FNCCI, Dhakal secured an overall 54.26 percent votes against 45.74 percent received by Pradhan during the election held on the occasion of the 54<sup>th</sup> Annual General meeting of FNCCI on November 28.</span></span></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">In the associate section, which holds 30 percent of vote weightage, Dhakal secured 522 votes while Pradhan garnered only 375 votes. Likewise in the commodities section, Dhakal bagged 59 votes against 39 of Pradhab. The commodities section carries 20 percent of vote weightage. Similarly, in the district and municipal section, which carries a total of 50 percent vote weightage, the two contestants had a close competition with Pradhan defeating Dhakal by a margin of just one vote. Pradhan secured 53 votes while Dhakal received 52.</span></span></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">Meanwhile Anjan Shrestha won the election in the commodities section while Dinesh Shrestha secured victory in the district and municipal section. Both of them belong to Pradhan’s panel.</span></span></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">Anjan Shrestha garnered 62 votes to defeat his competitor Umesh Lal Pradhan, who secured 37 votes.</span></span></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">Likewise, Dinesh Shrestha bagged 58 votes against 47 received by his contestant Guna Nidhi Tiwari.</span></span></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">In the associates section, Ram Chandra Shanghai of Dhakal panel secured victory. Shanghai secured 455 votes while his competitor Saurav Jyoti received 434 votes.</span></span></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">Rajan Shrestha, Taranath Adhikari, Kamal Kumar Shrestha, Chakra Bahadur Adhikari, Arun Raj Sumargi, Dev Kumar Shrestha, Rameshwar manandhar, Shovakanta Poudel, Sur Krishna Baidhya, Gajendra Bhagat, Kuber Kumar Shrestha and Kaman Bahadur Khadka have been elected to the executive committee of the associate section.</span></span></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">Similarly, Gopal Kedia, Mahendra Kumar Shrestha, Kamal Kumar Shrestha, Umesh Dalmia and Kishor Kumar Acharya also secured victory in the election.</span></span></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">Newly elected Senior Vice President Dhakal is the chairman of IME Group which runs Global IME Bank, IME General Insurance, IME Life Hathway Investment, IME Cooperatives, Chandragiri Hills, IME Automotives and is also involved in various other businesses.</span></span></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">After his election victory, Dhakal pledged to work together with all factions of FNCCI to make the federation stronger. Speaking with reporters after the election, Dhakal said that the existence of different panels has come to and end with the completion of the election. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12477', 'image' => '20201129114440_1606605443.jpg', 'article_date' => '2020-11-29 11:43:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12727', 'article_category_id' => '1', 'title' => 'PM Oli says Private Sector can Contribute more that the Government ', 'sub_title' => '', 'summary' => 'November 27: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli along with office bearers of FNCCI inaugurated the AGM through a virtual medium from the prime minister’s official residence in Baluwatar on Thursday (November 26). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the inauguration, PM Oli praised the effort made by the private sector to uplift the country’s economy that has been badly affected by the pandemic. He said that the contributions made by the business sector and entrepreneurs during this difficult time was highly commendable.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He was of the view that the government and private sector together can revitalize the economy at a time when the economic growth has become less than what was projected due to the impact of 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:"Bangla MN"">PM Oli said that the private sector can do much more than the government to uplift the economy and therefore the government is ever ready to promote the private sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">PM Oli also stressed on moderinizing the agriculture sector, and moving ahead toward industrialization and commercialization. But he expressed sadness that instead of achieving those dreams, the country’s industries were investing abroad.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The government is ready to provide any kind of support to create a conducive environment for expansion of business and industries,” he said.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Representatives of FNCCI responded to the PM’s appeal by saying that the government needs to immediately announce Covid-19 recovery programme to provide relief to the sectors affected by the 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:"Bangla MN"">Speaking at the programme, Senior Vice President of FNCCI Shekhar Golchha, who is poised to lead the umbrella body of industries and entrepreneurs from the upcoming term, said that although the topics included in the annual budget and the monetary policy are positive, the government must bring a special programme for Covid-19 recovery.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He also urged the government to immediately implement the programmes announced by the government to support the sectors affected by Covid-19. He added that the programmes announced by the government have not been implemented so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Meanwhile, outgoing president of FNCCI Bhavani Rana informed that the current crisis has created unemployment to a great extent and urged the government to address this issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">She said that hundreds of thousands of youths have returned home from above after job cuts and urged the government to capitalize on their expertise by creating job opportunities in order to avoid further crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the programme, FNCCI felicitated Ravi Bhakta Shrestha, Mahesh Lal Pradhan, Binod Chaudary, Padma Jyoti, Pradeep Kumar Shrestha, Binod Bahadur Shrestha, Anand Raj Mulmi, Chandi Raj Dhakal, Suraj Vaidhya, Pashupati Murarka and Pradeep Jung Pandey for their immense contribution to the industrial 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:"Bangla MN"">FNCCI is scheduled to hold the closed session of AGM through virtual medium on Friday (November 27), which will be followed by election on Saturday.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12475', 'image' => '20201127020445_1606433651.Clipboard02 2.jpg', 'article_date' => '2020-11-27 14:02:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12726', 'article_category_id' => '1', 'title' => 'Social Security Fund is also for Helpless Citizens: PM Oli', 'sub_title' => '', 'summary' => 'November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. </span></span></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">Speaking at a function organised by the SSF on the occasion of the Social Security Day on Thursday (November 26), PM Oli said that the concept of social security was developed not only to benefit those who can contribute to the fund but also to protect those who were reeling under poverty and struggling with other problems in the society.</span></span></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">PM Oli said that the government was working toward including the workers of the informal sector within the reach of the Social Security Fund.</span></span></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 added that the government is committed toward achieving social security in its broad term and for giving full support to the concept and taking it ahead in an organised 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">During the function, Minister for Labour, Employment and Social Security Rameshwar Raya Yadav also pledged to bring the workers of informal sector and self-employed individuals within the ambit of social security soon. </span></span></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">President of Nepal Trade Union Congress Pushkar Acharya, President of Hotel Association of Nepal Shrijana Rana and executive director of SSF Kapil Mani Gyawali talked about increasing the effectiveness of the fund.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12474', 'image' => '20201127121735_1606381342.PM_OLI.jpg', 'article_date' => '2020-11-27 12:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12728', 'article_category_id' => '1', 'title' => 'Nepse Sets Historic Record in Share Market', 'sub_title' => '', 'summary' => 'November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. The share market’s index has reached an all time high while the transaction amount is also the highest record till date.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">On Thursday, Nepse index surpassed the previous record of 1881 points to close at 1893. The Nepse index rose by 18.43 points to set the new record. The previous record was set on July 27, 2016.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction was also the highest on Thursday in terms of monetary value. Shares of 201 companies were traded for a record of Rs 7.61 billion. Transaction of 7.18 million units of shares of those 201 companies took place on Thursday.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The number of units traded and the number of times transaction took place were also unprecedented on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">It is estimated that the investors have increased investment expecting a decline in interest rate of banks due to the drop in base rates of banks. Analysts say that the investors have become attracted to the share market as there is no where to invest and they get only two percent interest from saving.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction expert Dilip Munkarmi says that the investors’ confidence has been restored believing that the bearish cycle is over. He, however, believes that the share market is yet to become stable.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12473', 'image' => '20201127025255_1606433377.Clipboard03.jpg', 'article_date' => '2020-11-27 14:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12725', 'article_category_id' => '1', 'title' => 'Supreme Court Decides not to Halt AGM of FNCCI', 'sub_title' => '', 'summary' => 'November 27: The Supreme Court has refused to intervene in the 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.', 'content' => '<p><em>Supreme Court of Nepal. File Photo</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The Supreme Court has refused to intervene in the 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Shiva Shankar Sah, president of Province-2 chapter of FNCCI, had initially filed a complaint with the District Administration Office, Kathmandu seeking annulment of the AGM as well as election arguing that the meeting was being held against the established norms and statute of the organisation. He later filed the writ petition at the apex court stating that the DAO did not respond to his complaint.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The Supreme Court had called for a hearing on the petition on Thursday (November 26), which coincided with the inauguration of the AGM.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">In the initial hearing, a single bench of Justice Purushottam Bhandari refused to issue an interim order to halt the AGM and instead sought clarification from the defendant.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12472', 'image' => '20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2020-11-27 11:54:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12724', 'article_category_id' => '1', 'title' => 'India Pledges to Provide Covid-19 Vaccine to Nepal', 'sub_title' => '', 'summary' => 'November 27: India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 27: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India’s Foreign Secretary Harsh Vardhan Shringla made such remarks during his two-day visit to Nepal. During his meeting with Foreign Minister Pradeep Gyawali, Shringla said that India would definitely provide Covid-19 vaccine after gets available in 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:"Arial Unicode MS"">He said that Nepal-India relations is related to our common culture and civilization and therefore the relation between the two countries will not deteriorate under any circumstances. </span></span></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 Unicode MS"">Shringla handed over 2000 viles of remdisivir medicine to Foreign Minister Gyawaly on behalf of the Government of 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:"Arial Unicode MS"">Shringla will wrap up his two-day official visit to Nepal and return to India later today (November 27).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12471', 'image' => '20201127115408_1606393868.india_corona.jpg', 'article_date' => '2020-11-27 11:53:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12723', 'article_category_id' => '1', 'title' => 'Government Starts Collecting Details of Public Properties', 'sub_title' => '', 'summary' => 'November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.</span></span></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 Financial Comptroller General’s Office, which looks after the government’s income and expenditure, was assigned the duty to collect property details of government units. The office is now preparing to keep the records in electronic medium. </span></span></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">Although the details of public property were kept separately by various bodies, there isn’t any body to keep the records of all the public properties in an integrated 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">The government does not have the details of public properties at a time when the country has already adopted federalism and the provinces and local units have been authorised to use the properties under their jurisdiction at their disposal. Therefore, the Financial Comptroller General’s Office decided to collect the property details.</span></span></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">So far, 2270 government units have already submitted the details of public properties in the Public Property Management System (PPMS) developed by the Financial Comptroller General’s Office.</span></span></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 Deputy Financial Comptroller General Gyanendra Poudel, a total of 1,914 units under the federal government, 288 under the provincial governments and 68 under the local units have submitted their property details. Altogether there are 5000 offices that spend government budget. All of them are required to enter their property details in the system.</span></span></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">Poudel informed that the remaining government units have been issued circulars to submit the property details as soon as possible. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12470', 'image' => '20201126050913_Mahalekha-Niyantrak-financial-comptroller-general-office 2.jpg', 'article_date' => '2020-11-26 17:08:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12722', 'article_category_id' => '1', 'title' => 'Central Bank to Invest Rs 4 Billion in Fixed Deposits of BFIs', 'sub_title' => '', 'summary' => 'November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). The central bank has decided to keep the amount from gratuity and pension funds as fixed deposits from December 16, 2000 till December 15, 2021.</span></span></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 Unicode MS"">NRB will be keeping Rs 3.2 billion in commercial banks. Similarly, Rs 600 million will be kept as fixed deposits in development banks and Rs 200 million in finance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">BFIs interested in depositing the central bank’s money have been informed to submit proposals within 3 pm on November 29 along with the amount they want to keep as well as the interest rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12469', 'image' => '20201126044150_1606327652.Clipboard03.jpg', 'article_date' => '2020-11-26 16:41:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falseinclude - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Warning (2): simplexml_load_file() [<a href='http://php.net/function.simplexml-load-file'>function.simplexml-load-file</a>]: I/O warning : failed to load external entity "" [APP/View/Elements/side_bar.ctp, line 60]file not found!Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/indexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12738', 'article_category_id' => '1', 'title' => 'Foreign Shipping Companies Operating in Nepal without Registration', 'sub_title' => '', 'summary' => 'December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. The overseas cargo companies providing services in Nepal are yet to get registered in the country. Those companies have been operating in Nepal just because they have been registered in neighbouring 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:"Arial Unicode MS"">As the cargo companies are not registered in Nepal, they have been charging the local importers exorbitantly high fares for their services. Nepali importers say that the government has become a mute spectator to the extortion of foreign shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government authorities easily avoid this topic saying that the foreign companies are not registered in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Nepal and India had jointly implemented transshipment model for transport of goods through Indian ports with the objective of reducing the transshipment cost, this has had very little impact on the monopoly of the shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the importers had been claiming that they have had to incur huge cost due to the charges of customs house agents. But now, they claim that the cost has not reduced because of the arbitrary charges fixed by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Treasurer of Nepal Freight Forward Association Naresh Agrawal says that although there has been some improvements in the process of customs clearance, the conduct of shipping companies has not changed.</span></span></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 Unicode MS"">It is estimated that the transportation cost of landlocked countries worldwide is 20 percent more than the countries that have access to sea ports. However, Nepali importers say that they have to bear 40 percent additional transportation cost. </span></span></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 Unicode MS"">Another importer Pradeep Kedia says that the excessive transportation cost prevented them from benefitting from competitive market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment model has reduced the paperwork but has increased the overall transportation charge.</span></span></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 Unicode MS"">“It is because the shipping companies have been charging fares on electronic cargo tracking system under the transshipment model as per their will,” said 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:"Arial Unicode MS"">Other importers say that the transportation cost has increased by 50 percent after the responsibility of transshipment was taken by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Earlier, it was the customs house agents who had been charging high fare. But now, the shipping companies are taking the advantage. It’s like jumping from the frying pan into the fire,” said 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:"Arial Unicode MS"">Currently, 21 shipping companies are operating in Nepal. But none of them fall under the purview of law. These companies are operating in the country without registration.</span></span></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 Unicode MS"">The annual transportation cost for overseas trade is estimated to be around Rs 250 billion. Shipping companies are taking advantage of operating their business in Nepal without being registered here.</span></span></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 Unicode MS"">The government can only control the companies that are registered and had pledged to make a separate law for the shipping companies. But there hasn’t been any progress to this end.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12485', 'image' => '20201201022415_1606759926.Clipboard04.jpg', 'article_date' => '2020-12-01 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12737', 'article_category_id' => '1', 'title' => 'Tourism Minister says Expansion of Bharatpur Airport has Already Started', 'sub_title' => '', 'summary' => 'December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. Speaking at a discussion program organized at Bharatpur Metropolitan City on Sunday, November 29, Minister Bhattarai informed that the process of expansion of the airport has to move ahead by managing the difficulties and obstacles.</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:"Times New Roman"">He further opined that the expansion of Bharatpur Airport is essential to support the potential of Central Nepal and the development of tourism in the region. Minister Bhattarai also added that the barracks and horse stables of the Nepalese Army situated in the project site will be relocated and an emergency air base of the Nepal Army will be located inside the airport premises without affecting the master plan of the airport.</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:"Times New Roman"">Stating that the Bharatpur Airport is in danger at the current situation, he stressed on the need for the Bharatpur Municipal Corporation to demolish the physical infrastructure built against the standards. “Everyone should have positive attitude and support for the construction of the airport,” he added.</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:"Times New Roman"">Bharatpur Metropolitan City’s Mayor Renu Dahal informed that the municipality office aims to make Bharatpur Airport well-organized and well-equipped with night flight service. "The expansion and development of the airport will significantly contribute to the overall development of Chitwan and surrounding districts," she added.</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:"Times New Roman"">Chief of Bharatpur Airport Yogendra Kunwar stressed on the need to expedite the expansion work of the airport which has been stalled for a long time. </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:"Times New Roman"">Director General of the Civil Aviation Department Rajan Pokharel, Director of the Department of Aviation Engineering Pradip Adhikari, battalion commander of Kali Bahadur Battalion Bigyan Dev Khanal and others also expressed their views at the program.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12484', 'image' => '20201201014452_20201011111501_yogesh_bhattarai.jpg', 'article_date' => '2020-12-01 13:44:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12736', 'article_category_id' => '1', 'title' => 'Supreme Court Halts Tender Process to Print Excise Duty Stickers', 'sub_title' => '', 'summary' => 'December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A single bench of Justice Tej Bahadur KC issued the order responding on a writ petition filed by Mohan Raj Ghimire on behalf of Miraj Printing. </span></span></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 Unicode MS"">The apex court order has put on hold the tender process called by the IRD on October 14 seeking international bids for printing the stickers. The department had called for international companies to submit their proposals within November 29.</span></span></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 Unicode MS"">Ghimire had filed the petition stating that the IRD issued the tender by including clauses which Nepali companies could not fulfill, and therefore the decision was biased. The Supreme Court stated that even the Public Procurement Act has a provision under which tender bids called by government should be favourable for the local companies. The court demanded written explanation from the IRD within 15 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:"Arial Unicode MS"">The interim order says that the tender issued by IRD on October 14 has nothing new except one clause which says interested companies should have Intergraph or ISO certificate 14298 instead of Intergraph or ISO certificate 14289, and therefore the tender contradicts the precedent set by the SC on February 24, 2020. In this context, the Supreme Court has ordered the IRD not to move ahead with any of the process related to printing the excise duty stickers until the final decision is taken.</span></span></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 Unicode MS"">Nepali companies argue that the tender favours foreign companies and that the local contractors don’t stand a chance to land the contract as per the criteria fixed in the tender.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Last year, the Supreme Court had ordered the government to launch a study on the capacity of Nepali companies to render their services and to create an environment in which the domestic companies could prove their competitiveness so that the government could promote and protect the local companies in order to make the country’s economy strong and self reliant.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12483', 'image' => '20201201122429_1606693544.Clipboard09.jpg', 'article_date' => '2020-12-01 12:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12735', 'article_category_id' => '1', 'title' => 'Newly Elected FNCCI Members Take Oath of Office', 'sub_title' => '', 'summary' => 'December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).</span></span></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 Unicode MS"">Outgoing president Bhavani Rana administered oath to Golchha as per the provision of FNCCI, which mandates the senior vice president to lead the federation after completing one term.</span></span></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 Unicode MS"">Meanwhile, Golchha administered oath of office to other newly elected members.</span></span></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 Unicode MS"">During the function, Golchha said that he would move ahead by taking all factions into confidence. He stressed on the need of unity among all stakeholders and made a commitment to take all factions of FNCCI on board while implementing the strategy prepared by him for nation building.</span></span></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 Unicode MS"">Meanwhile, newly elected senior vice president Chandra Dhakal said that the ideological disputes among FNCCI members have now come to an end after the successful conclusion of the election. He said that he work in collaboration with President Golchha’s panel for taking the private sector ahead.</span></span></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 Unicode MS"">Dhakal will have to work with Golchha, who was openly backed by his opponent Kishor Pradhan during the recent election held on the occasion of the 54<sup>th</sup> Annual General Meeting of 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 Unicode MS"">Dhakal said that although there were different panels ahead of the election, all sides have to unite and move ahead now for the betterment of the private sector. He pledged to increase commercial activities to attain financial prosperity.</span></span></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 Unicode MS"">Besides Dhakal, other three vice presidents also pledged to unite together for future course of action.</span></span></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 Unicode MS"">Vice President (associates) Ram Chandra Shanghai pledged to work for the welfare of workers and stressed on increasing production and export.</span></span></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 Unicode MS"">Similarly, vice president (commodities) Anjan Shrestha said he would take a lead role for ensuring the rights of the private sector. Likewise, vice president (district/municipalities) Dinesh Shrestha made a commitment to increase the activities of Small and Medium Scale Enterprises (SMEs).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12482', 'image' => '20201201110207_1606693683.Clipboard04.jpg', 'article_date' => '2020-12-01 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12733', 'article_category_id' => '1', 'title' => 'JEMC Starts Printing Excise Duty Stickers', 'sub_title' => '', 'summary' => 'November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A total of 5 million stickers are being printed on a daily basis, according to the state-owned printing press Janak Education Materials Limited (JEMC) which has been awarded the contract to print the stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">JEMC has been assigned to print 700 million pieces of excise duty stickers in the current 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:Arial">Officials at JEMC say that they have increased the rate of printing stickers as per the demand of the Inland Revenue Department.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“We started printing immediately after Tihar. We have managed everything for printing the excise duty stickers,” said Mahesh Prasad Timilsina, director general of JEMC.</span></span></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 finance ministry had decided to hand over the responsibility of printing the excise duty stickers to JEMC for the time being to meet the requirement for 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:Arial">The IRD was under pressure to print the stickers within the country because the process of issuing global tender would be time consuming and would have resulted in shortage of stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the IRD has initiated the process to call international tender for printing an additional 9 billion excise duty stickers abroad.</span></span></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">Last year, when the government had initiated the process of calling tender for international bids, Miraj Printing Solution had filed a writ petition at the Supreme Court stating that the local companies had been deprived of participating in the bidding process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Following the writ petition filed by Mohan Raj Ghimire, the apex court had ordered the government to open tender bids for domestic companies by considering their capacity to print.</span></span></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">Director General of IRD argues that all domestic companies that meet the criteria can also apply for the international bidding process.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12480', 'image' => '20201129034130_20200707042111_Excise duty stickers.jpg', 'article_date' => '2020-11-29 15:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12732', 'article_category_id' => '1', 'title' => 'Solar Plant to be Installed in Gautam Buddha International Airport', 'sub_title' => '', 'summary' => 'November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. The airport project office is preparing to build a solar plant inside the under construction airport premises with the objective of generating required electricity to operate the airport through the plant.</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:"Times New Roman"">Discussions have already started between the Ministry of Energy, Water Resources and Irrigation and the Ministry of Culture, Tourism and Civil Aviation on setting up a solar plant at the airport to supply electricity. In the first phase, a discussion was held between the ministers and other representatives of the two ministries at the Ministry of Energy last Friday, November 27.</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:"Times New Roman"">Ministers Barshaman Pun and Yogesh Bhattarai, Tourism Secretary Yadav Prasad Koirala, Acting Secretary at the Ministry of Energy Praveen Raj Aryal, Joint Secretary Madhu Prasad Bhetwal, Acting Executive Director of the Electricity Authority Hitendra Dev Shakya and officials of the Civil Aviation Authority of Nepal attended the meeting to discuss the matter.</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:"Times New Roman"">The meeting directed the two ministries and the authority to prepare a detailed blueprint for the establishment of the solar plant and submit it to the ministers within a year’s time.</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:"Times New Roman"">A 10 MW capacity solar plant will be operated on the vacant land of Bhairahawa Airport premises with the assistance of the Asian Development Bank.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12479', 'image' => '20201129030718_1606605742.Clipboard04.jpg', 'article_date' => '2020-11-29 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12731', 'article_category_id' => '1', 'title' => 'Banking Fraud on the Rise', 'sub_title' => '', 'summary' => 'November 29: Cases of banking fraud have been increasing in Nepal every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 29: Cases of banking fraud have been increasing in Nepal every year. A total of 8,011 cases of banking fraud have been reported in the country since the last five years. </span></span></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 Unicode MS"">Banking fraud includes check bounce, deceit, conspiracy and misuse of online transaction. </span></span></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 Unicode MS"">According to the Police Headquarters, altogether 46 cases of banking fraud were reported in fiscal year 2015/16 across the country. The number of such cases has been rising every year since then.</span></span></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 Unicode MS"">In FY 2016/17, a total of 93 cases related to banking fraud were reported while the number rose to 776 in FY 2017/18. In FY 2018/19, the number of banking fraud skyrocketed to 3,167 while FY 2019/20 witnessed a total of 3,309 cases of banking fraud. Six hundred and twenty eight cases of banking fraud have been reported in the first four months 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:"Arial Unicode MS"">The Banking Offence and Punishment Act (first amendment) 2073 prohibits unauthorized loan disbursement, unauthorized opening of bank account or payment of money, abuse of electronic means of transaction or unauthorized used of electronic payment, misuse of loan, misuse of banking resources and property. </span></span></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 Unicode MS"">Of late, there has been a rise in instances of cheque bounce.</span></span></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 Unicode MS"">SSP Kuber Kadayat, spokesperson of Nepal Police, says that the rise in number of banking fraud cases is due to an increase in incidents of cheque bounce.</span></span></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 Unicode MS"">“Banking fraud also takes place through internet and online medium. The number of cases related to banking and finance sector has increased,” said SSP Kadayat, adding, “The major reasons for this is the ambition to earn quick money, big aspirations, and rapid urbanization.”</span></span></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 Unicode MS"">It has been found that many instances of banking fraud take place in collusion with the staffers of banks. SSP Kadayat added that most of the offenders have already been booked.</span></span></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 Unicode MS"">Recent studies have revealed that there has been a rise in cases of banking offence with the use of technology and most of the offenders are not involved in the crime directly, said SSP Kadayat.</span></span></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 Unicode MS"">The Central Investigation Bureau (CIB) has been investigation complicated cases of banking fraud. Last month, the CIB arrested around half a dozen people on charges of banking fraud.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12478', 'image' => '20201129015436_QT-banking-fraud.jpg', 'article_date' => '2020-11-29 13:53:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12730', 'article_category_id' => '1', 'title' => 'Chandra Dhakal Elected Senior Vice President of FNCCI', 'sub_title' => '', 'summary' => 'November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">Dhakal defeated his rival Kishor Pradhan to secure the coveted post, which, according to the FNCCI statute, ensures that he will lead the umbrella body of industries and entrepreneurs in the next term. The newly elected senior vice president Dhakal will take the helm of FNCCI from Sekhar Golchha, who will now take charge of the new executive committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the election committee of FNCCI, Dhakal secured an overall 54.26 percent votes against 45.74 percent received by Pradhan during the election held on the occasion of the 54<sup>th</sup> Annual General meeting of FNCCI on November 28.</span></span></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">In the associate section, which holds 30 percent of vote weightage, Dhakal secured 522 votes while Pradhan garnered only 375 votes. Likewise in the commodities section, Dhakal bagged 59 votes against 39 of Pradhab. The commodities section carries 20 percent of vote weightage. Similarly, in the district and municipal section, which carries a total of 50 percent vote weightage, the two contestants had a close competition with Pradhan defeating Dhakal by a margin of just one vote. Pradhan secured 53 votes while Dhakal received 52.</span></span></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">Meanwhile Anjan Shrestha won the election in the commodities section while Dinesh Shrestha secured victory in the district and municipal section. Both of them belong to Pradhan’s panel.</span></span></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">Anjan Shrestha garnered 62 votes to defeat his competitor Umesh Lal Pradhan, who secured 37 votes.</span></span></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">Likewise, Dinesh Shrestha bagged 58 votes against 47 received by his contestant Guna Nidhi Tiwari.</span></span></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">In the associates section, Ram Chandra Shanghai of Dhakal panel secured victory. Shanghai secured 455 votes while his competitor Saurav Jyoti received 434 votes.</span></span></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">Rajan Shrestha, Taranath Adhikari, Kamal Kumar Shrestha, Chakra Bahadur Adhikari, Arun Raj Sumargi, Dev Kumar Shrestha, Rameshwar manandhar, Shovakanta Poudel, Sur Krishna Baidhya, Gajendra Bhagat, Kuber Kumar Shrestha and Kaman Bahadur Khadka have been elected to the executive committee of the associate section.</span></span></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">Similarly, Gopal Kedia, Mahendra Kumar Shrestha, Kamal Kumar Shrestha, Umesh Dalmia and Kishor Kumar Acharya also secured victory in the election.</span></span></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">Newly elected Senior Vice President Dhakal is the chairman of IME Group which runs Global IME Bank, IME General Insurance, IME Life Hathway Investment, IME Cooperatives, Chandragiri Hills, IME Automotives and is also involved in various other businesses.</span></span></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">After his election victory, Dhakal pledged to work together with all factions of FNCCI to make the federation stronger. Speaking with reporters after the election, Dhakal said that the existence of different panels has come to and end with the completion of the election. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12477', 'image' => '20201129114440_1606605443.jpg', 'article_date' => '2020-11-29 11:43:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12727', 'article_category_id' => '1', 'title' => 'PM Oli says Private Sector can Contribute more that the Government ', 'sub_title' => '', 'summary' => 'November 27: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli along with office bearers of FNCCI inaugurated the AGM through a virtual medium from the prime minister’s official residence in Baluwatar on Thursday (November 26). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the inauguration, PM Oli praised the effort made by the private sector to uplift the country’s economy that has been badly affected by the pandemic. He said that the contributions made by the business sector and entrepreneurs during this difficult time was highly commendable.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He was of the view that the government and private sector together can revitalize the economy at a time when the economic growth has become less than what was projected due to the impact of 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:"Bangla MN"">PM Oli said that the private sector can do much more than the government to uplift the economy and therefore the government is ever ready to promote the private sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">PM Oli also stressed on moderinizing the agriculture sector, and moving ahead toward industrialization and commercialization. But he expressed sadness that instead of achieving those dreams, the country’s industries were investing abroad.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The government is ready to provide any kind of support to create a conducive environment for expansion of business and industries,” he said.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Representatives of FNCCI responded to the PM’s appeal by saying that the government needs to immediately announce Covid-19 recovery programme to provide relief to the sectors affected by the 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:"Bangla MN"">Speaking at the programme, Senior Vice President of FNCCI Shekhar Golchha, who is poised to lead the umbrella body of industries and entrepreneurs from the upcoming term, said that although the topics included in the annual budget and the monetary policy are positive, the government must bring a special programme for Covid-19 recovery.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He also urged the government to immediately implement the programmes announced by the government to support the sectors affected by Covid-19. He added that the programmes announced by the government have not been implemented so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Meanwhile, outgoing president of FNCCI Bhavani Rana informed that the current crisis has created unemployment to a great extent and urged the government to address this issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">She said that hundreds of thousands of youths have returned home from above after job cuts and urged the government to capitalize on their expertise by creating job opportunities in order to avoid further crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the programme, FNCCI felicitated Ravi Bhakta Shrestha, Mahesh Lal Pradhan, Binod Chaudary, Padma Jyoti, Pradeep Kumar Shrestha, Binod Bahadur Shrestha, Anand Raj Mulmi, Chandi Raj Dhakal, Suraj Vaidhya, Pashupati Murarka and Pradeep Jung Pandey for their immense contribution to the industrial 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:"Bangla MN"">FNCCI is scheduled to hold the closed session of AGM through virtual medium on Friday (November 27), which will be followed by election on Saturday.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12475', 'image' => '20201127020445_1606433651.Clipboard02 2.jpg', 'article_date' => '2020-11-27 14:02:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12726', 'article_category_id' => '1', 'title' => 'Social Security Fund is also for Helpless Citizens: PM Oli', 'sub_title' => '', 'summary' => 'November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. </span></span></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">Speaking at a function organised by the SSF on the occasion of the Social Security Day on Thursday (November 26), PM Oli said that the concept of social security was developed not only to benefit those who can contribute to the fund but also to protect those who were reeling under poverty and struggling with other problems in the society.</span></span></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">PM Oli said that the government was working toward including the workers of the informal sector within the reach of the Social Security Fund.</span></span></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 added that the government is committed toward achieving social security in its broad term and for giving full support to the concept and taking it ahead in an organised 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">During the function, Minister for Labour, Employment and Social Security Rameshwar Raya Yadav also pledged to bring the workers of informal sector and self-employed individuals within the ambit of social security soon. </span></span></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">President of Nepal Trade Union Congress Pushkar Acharya, President of Hotel Association of Nepal Shrijana Rana and executive director of SSF Kapil Mani Gyawali talked about increasing the effectiveness of the fund.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12474', 'image' => '20201127121735_1606381342.PM_OLI.jpg', 'article_date' => '2020-11-27 12:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12728', 'article_category_id' => '1', 'title' => 'Nepse Sets Historic Record in Share Market', 'sub_title' => '', 'summary' => 'November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. The share market’s index has reached an all time high while the transaction amount is also the highest record till date.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">On Thursday, Nepse index surpassed the previous record of 1881 points to close at 1893. The Nepse index rose by 18.43 points to set the new record. The previous record was set on July 27, 2016.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction was also the highest on Thursday in terms of monetary value. Shares of 201 companies were traded for a record of Rs 7.61 billion. Transaction of 7.18 million units of shares of those 201 companies took place on Thursday.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The number of units traded and the number of times transaction took place were also unprecedented on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">It is estimated that the investors have increased investment expecting a decline in interest rate of banks due to the drop in base rates of banks. Analysts say that the investors have become attracted to the share market as there is no where to invest and they get only two percent interest from saving.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction expert Dilip Munkarmi says that the investors’ confidence has been restored believing that the bearish cycle is over. He, however, believes that the share market is yet to become stable.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12473', 'image' => '20201127025255_1606433377.Clipboard03.jpg', 'article_date' => '2020-11-27 14:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12725', 'article_category_id' => '1', 'title' => 'Supreme Court Decides not to Halt AGM of FNCCI', 'sub_title' => '', 'summary' => 'November 27: The Supreme Court has refused to intervene in the 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.', 'content' => '<p><em>Supreme Court of Nepal. File Photo</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The Supreme Court has refused to intervene in the 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Shiva Shankar Sah, president of Province-2 chapter of FNCCI, had initially filed a complaint with the District Administration Office, Kathmandu seeking annulment of the AGM as well as election arguing that the meeting was being held against the established norms and statute of the organisation. He later filed the writ petition at the apex court stating that the DAO did not respond to his complaint.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The Supreme Court had called for a hearing on the petition on Thursday (November 26), which coincided with the inauguration of the AGM.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">In the initial hearing, a single bench of Justice Purushottam Bhandari refused to issue an interim order to halt the AGM and instead sought clarification from the defendant.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12472', 'image' => '20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2020-11-27 11:54:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12724', 'article_category_id' => '1', 'title' => 'India Pledges to Provide Covid-19 Vaccine to Nepal', 'sub_title' => '', 'summary' => 'November 27: India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 27: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India’s Foreign Secretary Harsh Vardhan Shringla made such remarks during his two-day visit to Nepal. During his meeting with Foreign Minister Pradeep Gyawali, Shringla said that India would definitely provide Covid-19 vaccine after gets available in 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:"Arial Unicode MS"">He said that Nepal-India relations is related to our common culture and civilization and therefore the relation between the two countries will not deteriorate under any circumstances. </span></span></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 Unicode MS"">Shringla handed over 2000 viles of remdisivir medicine to Foreign Minister Gyawaly on behalf of the Government of 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:"Arial Unicode MS"">Shringla will wrap up his two-day official visit to Nepal and return to India later today (November 27).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12471', 'image' => '20201127115408_1606393868.india_corona.jpg', 'article_date' => '2020-11-27 11:53:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12723', 'article_category_id' => '1', 'title' => 'Government Starts Collecting Details of Public Properties', 'sub_title' => '', 'summary' => 'November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.</span></span></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 Financial Comptroller General’s Office, which looks after the government’s income and expenditure, was assigned the duty to collect property details of government units. The office is now preparing to keep the records in electronic medium. </span></span></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">Although the details of public property were kept separately by various bodies, there isn’t any body to keep the records of all the public properties in an integrated 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">The government does not have the details of public properties at a time when the country has already adopted federalism and the provinces and local units have been authorised to use the properties under their jurisdiction at their disposal. Therefore, the Financial Comptroller General’s Office decided to collect the property details.</span></span></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">So far, 2270 government units have already submitted the details of public properties in the Public Property Management System (PPMS) developed by the Financial Comptroller General’s Office.</span></span></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 Deputy Financial Comptroller General Gyanendra Poudel, a total of 1,914 units under the federal government, 288 under the provincial governments and 68 under the local units have submitted their property details. Altogether there are 5000 offices that spend government budget. All of them are required to enter their property details in the system.</span></span></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">Poudel informed that the remaining government units have been issued circulars to submit the property details as soon as possible. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12470', 'image' => '20201126050913_Mahalekha-Niyantrak-financial-comptroller-general-office 2.jpg', 'article_date' => '2020-11-26 17:08:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12722', 'article_category_id' => '1', 'title' => 'Central Bank to Invest Rs 4 Billion in Fixed Deposits of BFIs', 'sub_title' => '', 'summary' => 'November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). The central bank has decided to keep the amount from gratuity and pension funds as fixed deposits from December 16, 2000 till December 15, 2021.</span></span></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 Unicode MS"">NRB will be keeping Rs 3.2 billion in commercial banks. Similarly, Rs 600 million will be kept as fixed deposits in development banks and Rs 200 million in finance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">BFIs interested in depositing the central bank’s money have been informed to submit proposals within 3 pm on November 29 along with the amount they want to keep as well as the interest rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12469', 'image' => '20201126044150_1606327652.Clipboard03.jpg', 'article_date' => '2020-11-26 16:41:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 60 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
Notice (8): Undefined variable: file [APP/View/Elements/side_bar.ctp, line 133]Code Context// $file = 'http://aabhiyan:QUVLg8Wzs2F7G9N7@nepalstock.com.np/api/subindexdata.xml';if(!$xml = simplexml_load_file($file)){$viewFile = '/var/www/html/newbusinessage.com/app/View/Elements/side_bar.ctp' $dataForView = array( 'articles' => array( (int) 0 => array( 'Article' => array( [maximum depth reached] ) ), (int) 1 => array( 'Article' => array( [maximum depth reached] ) ), (int) 2 => array( 'Article' => array( [maximum depth reached] ) ), (int) 3 => array( 'Article' => array( [maximum depth reached] ) ), (int) 4 => array( 'Article' => array( [maximum depth reached] ) ), (int) 5 => array( 'Article' => array( [maximum depth reached] ) ), (int) 6 => array( 'Article' => array( [maximum depth reached] ) ), (int) 7 => array( 'Article' => array( [maximum depth reached] ) ), (int) 8 => array( 'Article' => array( [maximum depth reached] ) ), (int) 9 => array( 'Article' => array( [maximum depth reached] ) ), (int) 10 => array( 'Article' => array( [maximum depth reached] ) ), (int) 11 => array( 'Article' => array( [maximum depth reached] ) ), (int) 12 => array( 'Article' => array( [maximum depth reached] ) ), (int) 13 => array( 'Article' => array( [maximum depth reached] ) ), (int) 14 => array( 'Article' => array( [maximum depth reached] ) ) ), 'current_user' => null, 'logged_in' => false ) $articles = array( (int) 0 => array( 'Article' => array( 'id' => '12738', 'article_category_id' => '1', 'title' => 'Foreign Shipping Companies Operating in Nepal without Registration', 'sub_title' => '', 'summary' => 'December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. The overseas cargo companies providing services in Nepal are yet to get registered in the country. Those companies have been operating in Nepal just because they have been registered in neighbouring 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:"Arial Unicode MS"">As the cargo companies are not registered in Nepal, they have been charging the local importers exorbitantly high fares for their services. Nepali importers say that the government has become a mute spectator to the extortion of foreign shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government authorities easily avoid this topic saying that the foreign companies are not registered in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Nepal and India had jointly implemented transshipment model for transport of goods through Indian ports with the objective of reducing the transshipment cost, this has had very little impact on the monopoly of the shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the importers had been claiming that they have had to incur huge cost due to the charges of customs house agents. But now, they claim that the cost has not reduced because of the arbitrary charges fixed by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Treasurer of Nepal Freight Forward Association Naresh Agrawal says that although there has been some improvements in the process of customs clearance, the conduct of shipping companies has not changed.</span></span></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 Unicode MS"">It is estimated that the transportation cost of landlocked countries worldwide is 20 percent more than the countries that have access to sea ports. However, Nepali importers say that they have to bear 40 percent additional transportation cost. </span></span></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 Unicode MS"">Another importer Pradeep Kedia says that the excessive transportation cost prevented them from benefitting from competitive market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment model has reduced the paperwork but has increased the overall transportation charge.</span></span></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 Unicode MS"">“It is because the shipping companies have been charging fares on electronic cargo tracking system under the transshipment model as per their will,” said 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:"Arial Unicode MS"">Other importers say that the transportation cost has increased by 50 percent after the responsibility of transshipment was taken by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Earlier, it was the customs house agents who had been charging high fare. But now, the shipping companies are taking the advantage. It’s like jumping from the frying pan into the fire,” said 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:"Arial Unicode MS"">Currently, 21 shipping companies are operating in Nepal. But none of them fall under the purview of law. These companies are operating in the country without registration.</span></span></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 Unicode MS"">The annual transportation cost for overseas trade is estimated to be around Rs 250 billion. Shipping companies are taking advantage of operating their business in Nepal without being registered here.</span></span></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 Unicode MS"">The government can only control the companies that are registered and had pledged to make a separate law for the shipping companies. But there hasn’t been any progress to this end.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12485', 'image' => '20201201022415_1606759926.Clipboard04.jpg', 'article_date' => '2020-12-01 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12737', 'article_category_id' => '1', 'title' => 'Tourism Minister says Expansion of Bharatpur Airport has Already Started', 'sub_title' => '', 'summary' => 'December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. Speaking at a discussion program organized at Bharatpur Metropolitan City on Sunday, November 29, Minister Bhattarai informed that the process of expansion of the airport has to move ahead by managing the difficulties and obstacles.</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:"Times New Roman"">He further opined that the expansion of Bharatpur Airport is essential to support the potential of Central Nepal and the development of tourism in the region. Minister Bhattarai also added that the barracks and horse stables of the Nepalese Army situated in the project site will be relocated and an emergency air base of the Nepal Army will be located inside the airport premises without affecting the master plan of the airport.</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:"Times New Roman"">Stating that the Bharatpur Airport is in danger at the current situation, he stressed on the need for the Bharatpur Municipal Corporation to demolish the physical infrastructure built against the standards. “Everyone should have positive attitude and support for the construction of the airport,” he added.</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:"Times New Roman"">Bharatpur Metropolitan City’s Mayor Renu Dahal informed that the municipality office aims to make Bharatpur Airport well-organized and well-equipped with night flight service. "The expansion and development of the airport will significantly contribute to the overall development of Chitwan and surrounding districts," she added.</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:"Times New Roman"">Chief of Bharatpur Airport Yogendra Kunwar stressed on the need to expedite the expansion work of the airport which has been stalled for a long time. </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:"Times New Roman"">Director General of the Civil Aviation Department Rajan Pokharel, Director of the Department of Aviation Engineering Pradip Adhikari, battalion commander of Kali Bahadur Battalion Bigyan Dev Khanal and others also expressed their views at the program.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12484', 'image' => '20201201014452_20201011111501_yogesh_bhattarai.jpg', 'article_date' => '2020-12-01 13:44:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12736', 'article_category_id' => '1', 'title' => 'Supreme Court Halts Tender Process to Print Excise Duty Stickers', 'sub_title' => '', 'summary' => 'December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A single bench of Justice Tej Bahadur KC issued the order responding on a writ petition filed by Mohan Raj Ghimire on behalf of Miraj Printing. </span></span></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 Unicode MS"">The apex court order has put on hold the tender process called by the IRD on October 14 seeking international bids for printing the stickers. The department had called for international companies to submit their proposals within November 29.</span></span></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 Unicode MS"">Ghimire had filed the petition stating that the IRD issued the tender by including clauses which Nepali companies could not fulfill, and therefore the decision was biased. The Supreme Court stated that even the Public Procurement Act has a provision under which tender bids called by government should be favourable for the local companies. The court demanded written explanation from the IRD within 15 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:"Arial Unicode MS"">The interim order says that the tender issued by IRD on October 14 has nothing new except one clause which says interested companies should have Intergraph or ISO certificate 14298 instead of Intergraph or ISO certificate 14289, and therefore the tender contradicts the precedent set by the SC on February 24, 2020. In this context, the Supreme Court has ordered the IRD not to move ahead with any of the process related to printing the excise duty stickers until the final decision is taken.</span></span></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 Unicode MS"">Nepali companies argue that the tender favours foreign companies and that the local contractors don’t stand a chance to land the contract as per the criteria fixed in the tender.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Last year, the Supreme Court had ordered the government to launch a study on the capacity of Nepali companies to render their services and to create an environment in which the domestic companies could prove their competitiveness so that the government could promote and protect the local companies in order to make the country’s economy strong and self reliant.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12483', 'image' => '20201201122429_1606693544.Clipboard09.jpg', 'article_date' => '2020-12-01 12:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12735', 'article_category_id' => '1', 'title' => 'Newly Elected FNCCI Members Take Oath of Office', 'sub_title' => '', 'summary' => 'December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).</span></span></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 Unicode MS"">Outgoing president Bhavani Rana administered oath to Golchha as per the provision of FNCCI, which mandates the senior vice president to lead the federation after completing one term.</span></span></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 Unicode MS"">Meanwhile, Golchha administered oath of office to other newly elected members.</span></span></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 Unicode MS"">During the function, Golchha said that he would move ahead by taking all factions into confidence. He stressed on the need of unity among all stakeholders and made a commitment to take all factions of FNCCI on board while implementing the strategy prepared by him for nation building.</span></span></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 Unicode MS"">Meanwhile, newly elected senior vice president Chandra Dhakal said that the ideological disputes among FNCCI members have now come to an end after the successful conclusion of the election. He said that he work in collaboration with President Golchha’s panel for taking the private sector ahead.</span></span></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 Unicode MS"">Dhakal will have to work with Golchha, who was openly backed by his opponent Kishor Pradhan during the recent election held on the occasion of the 54<sup>th</sup> Annual General Meeting of 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 Unicode MS"">Dhakal said that although there were different panels ahead of the election, all sides have to unite and move ahead now for the betterment of the private sector. He pledged to increase commercial activities to attain financial prosperity.</span></span></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 Unicode MS"">Besides Dhakal, other three vice presidents also pledged to unite together for future course of action.</span></span></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 Unicode MS"">Vice President (associates) Ram Chandra Shanghai pledged to work for the welfare of workers and stressed on increasing production and export.</span></span></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 Unicode MS"">Similarly, vice president (commodities) Anjan Shrestha said he would take a lead role for ensuring the rights of the private sector. Likewise, vice president (district/municipalities) Dinesh Shrestha made a commitment to increase the activities of Small and Medium Scale Enterprises (SMEs).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12482', 'image' => '20201201110207_1606693683.Clipboard04.jpg', 'article_date' => '2020-12-01 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12733', 'article_category_id' => '1', 'title' => 'JEMC Starts Printing Excise Duty Stickers', 'sub_title' => '', 'summary' => 'November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A total of 5 million stickers are being printed on a daily basis, according to the state-owned printing press Janak Education Materials Limited (JEMC) which has been awarded the contract to print the stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">JEMC has been assigned to print 700 million pieces of excise duty stickers in the current 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:Arial">Officials at JEMC say that they have increased the rate of printing stickers as per the demand of the Inland Revenue Department.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“We started printing immediately after Tihar. We have managed everything for printing the excise duty stickers,” said Mahesh Prasad Timilsina, director general of JEMC.</span></span></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 finance ministry had decided to hand over the responsibility of printing the excise duty stickers to JEMC for the time being to meet the requirement for 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:Arial">The IRD was under pressure to print the stickers within the country because the process of issuing global tender would be time consuming and would have resulted in shortage of stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the IRD has initiated the process to call international tender for printing an additional 9 billion excise duty stickers abroad.</span></span></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">Last year, when the government had initiated the process of calling tender for international bids, Miraj Printing Solution had filed a writ petition at the Supreme Court stating that the local companies had been deprived of participating in the bidding process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Following the writ petition filed by Mohan Raj Ghimire, the apex court had ordered the government to open tender bids for domestic companies by considering their capacity to print.</span></span></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">Director General of IRD argues that all domestic companies that meet the criteria can also apply for the international bidding process.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12480', 'image' => '20201129034130_20200707042111_Excise duty stickers.jpg', 'article_date' => '2020-11-29 15:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12732', 'article_category_id' => '1', 'title' => 'Solar Plant to be Installed in Gautam Buddha International Airport', 'sub_title' => '', 'summary' => 'November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. The airport project office is preparing to build a solar plant inside the under construction airport premises with the objective of generating required electricity to operate the airport through the plant.</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:"Times New Roman"">Discussions have already started between the Ministry of Energy, Water Resources and Irrigation and the Ministry of Culture, Tourism and Civil Aviation on setting up a solar plant at the airport to supply electricity. In the first phase, a discussion was held between the ministers and other representatives of the two ministries at the Ministry of Energy last Friday, November 27.</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:"Times New Roman"">Ministers Barshaman Pun and Yogesh Bhattarai, Tourism Secretary Yadav Prasad Koirala, Acting Secretary at the Ministry of Energy Praveen Raj Aryal, Joint Secretary Madhu Prasad Bhetwal, Acting Executive Director of the Electricity Authority Hitendra Dev Shakya and officials of the Civil Aviation Authority of Nepal attended the meeting to discuss the matter.</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:"Times New Roman"">The meeting directed the two ministries and the authority to prepare a detailed blueprint for the establishment of the solar plant and submit it to the ministers within a year’s time.</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:"Times New Roman"">A 10 MW capacity solar plant will be operated on the vacant land of Bhairahawa Airport premises with the assistance of the Asian Development Bank.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12479', 'image' => '20201129030718_1606605742.Clipboard04.jpg', 'article_date' => '2020-11-29 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12731', 'article_category_id' => '1', 'title' => 'Banking Fraud on the Rise', 'sub_title' => '', 'summary' => 'November 29: Cases of banking fraud have been increasing in Nepal every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 29: Cases of banking fraud have been increasing in Nepal every year. A total of 8,011 cases of banking fraud have been reported in the country since the last five years. </span></span></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 Unicode MS"">Banking fraud includes check bounce, deceit, conspiracy and misuse of online transaction. </span></span></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 Unicode MS"">According to the Police Headquarters, altogether 46 cases of banking fraud were reported in fiscal year 2015/16 across the country. The number of such cases has been rising every year since then.</span></span></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 Unicode MS"">In FY 2016/17, a total of 93 cases related to banking fraud were reported while the number rose to 776 in FY 2017/18. In FY 2018/19, the number of banking fraud skyrocketed to 3,167 while FY 2019/20 witnessed a total of 3,309 cases of banking fraud. Six hundred and twenty eight cases of banking fraud have been reported in the first four months 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:"Arial Unicode MS"">The Banking Offence and Punishment Act (first amendment) 2073 prohibits unauthorized loan disbursement, unauthorized opening of bank account or payment of money, abuse of electronic means of transaction or unauthorized used of electronic payment, misuse of loan, misuse of banking resources and property. </span></span></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 Unicode MS"">Of late, there has been a rise in instances of cheque bounce.</span></span></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 Unicode MS"">SSP Kuber Kadayat, spokesperson of Nepal Police, says that the rise in number of banking fraud cases is due to an increase in incidents of cheque bounce.</span></span></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 Unicode MS"">“Banking fraud also takes place through internet and online medium. The number of cases related to banking and finance sector has increased,” said SSP Kadayat, adding, “The major reasons for this is the ambition to earn quick money, big aspirations, and rapid urbanization.”</span></span></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 Unicode MS"">It has been found that many instances of banking fraud take place in collusion with the staffers of banks. SSP Kadayat added that most of the offenders have already been booked.</span></span></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 Unicode MS"">Recent studies have revealed that there has been a rise in cases of banking offence with the use of technology and most of the offenders are not involved in the crime directly, said SSP Kadayat.</span></span></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 Unicode MS"">The Central Investigation Bureau (CIB) has been investigation complicated cases of banking fraud. Last month, the CIB arrested around half a dozen people on charges of banking fraud.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12478', 'image' => '20201129015436_QT-banking-fraud.jpg', 'article_date' => '2020-11-29 13:53:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12730', 'article_category_id' => '1', 'title' => 'Chandra Dhakal Elected Senior Vice President of FNCCI', 'sub_title' => '', 'summary' => 'November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">Dhakal defeated his rival Kishor Pradhan to secure the coveted post, which, according to the FNCCI statute, ensures that he will lead the umbrella body of industries and entrepreneurs in the next term. The newly elected senior vice president Dhakal will take the helm of FNCCI from Sekhar Golchha, who will now take charge of the new executive committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the election committee of FNCCI, Dhakal secured an overall 54.26 percent votes against 45.74 percent received by Pradhan during the election held on the occasion of the 54<sup>th</sup> Annual General meeting of FNCCI on November 28.</span></span></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">In the associate section, which holds 30 percent of vote weightage, Dhakal secured 522 votes while Pradhan garnered only 375 votes. Likewise in the commodities section, Dhakal bagged 59 votes against 39 of Pradhab. The commodities section carries 20 percent of vote weightage. Similarly, in the district and municipal section, which carries a total of 50 percent vote weightage, the two contestants had a close competition with Pradhan defeating Dhakal by a margin of just one vote. Pradhan secured 53 votes while Dhakal received 52.</span></span></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">Meanwhile Anjan Shrestha won the election in the commodities section while Dinesh Shrestha secured victory in the district and municipal section. Both of them belong to Pradhan’s panel.</span></span></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">Anjan Shrestha garnered 62 votes to defeat his competitor Umesh Lal Pradhan, who secured 37 votes.</span></span></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">Likewise, Dinesh Shrestha bagged 58 votes against 47 received by his contestant Guna Nidhi Tiwari.</span></span></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">In the associates section, Ram Chandra Shanghai of Dhakal panel secured victory. Shanghai secured 455 votes while his competitor Saurav Jyoti received 434 votes.</span></span></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">Rajan Shrestha, Taranath Adhikari, Kamal Kumar Shrestha, Chakra Bahadur Adhikari, Arun Raj Sumargi, Dev Kumar Shrestha, Rameshwar manandhar, Shovakanta Poudel, Sur Krishna Baidhya, Gajendra Bhagat, Kuber Kumar Shrestha and Kaman Bahadur Khadka have been elected to the executive committee of the associate section.</span></span></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">Similarly, Gopal Kedia, Mahendra Kumar Shrestha, Kamal Kumar Shrestha, Umesh Dalmia and Kishor Kumar Acharya also secured victory in the election.</span></span></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">Newly elected Senior Vice President Dhakal is the chairman of IME Group which runs Global IME Bank, IME General Insurance, IME Life Hathway Investment, IME Cooperatives, Chandragiri Hills, IME Automotives and is also involved in various other businesses.</span></span></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">After his election victory, Dhakal pledged to work together with all factions of FNCCI to make the federation stronger. Speaking with reporters after the election, Dhakal said that the existence of different panels has come to and end with the completion of the election. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12477', 'image' => '20201129114440_1606605443.jpg', 'article_date' => '2020-11-29 11:43:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12727', 'article_category_id' => '1', 'title' => 'PM Oli says Private Sector can Contribute more that the Government ', 'sub_title' => '', 'summary' => 'November 27: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli along with office bearers of FNCCI inaugurated the AGM through a virtual medium from the prime minister’s official residence in Baluwatar on Thursday (November 26). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the inauguration, PM Oli praised the effort made by the private sector to uplift the country’s economy that has been badly affected by the pandemic. He said that the contributions made by the business sector and entrepreneurs during this difficult time was highly commendable.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He was of the view that the government and private sector together can revitalize the economy at a time when the economic growth has become less than what was projected due to the impact of 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:"Bangla MN"">PM Oli said that the private sector can do much more than the government to uplift the economy and therefore the government is ever ready to promote the private sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">PM Oli also stressed on moderinizing the agriculture sector, and moving ahead toward industrialization and commercialization. But he expressed sadness that instead of achieving those dreams, the country’s industries were investing abroad.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The government is ready to provide any kind of support to create a conducive environment for expansion of business and industries,” he said.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Representatives of FNCCI responded to the PM’s appeal by saying that the government needs to immediately announce Covid-19 recovery programme to provide relief to the sectors affected by the 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:"Bangla MN"">Speaking at the programme, Senior Vice President of FNCCI Shekhar Golchha, who is poised to lead the umbrella body of industries and entrepreneurs from the upcoming term, said that although the topics included in the annual budget and the monetary policy are positive, the government must bring a special programme for Covid-19 recovery.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He also urged the government to immediately implement the programmes announced by the government to support the sectors affected by Covid-19. He added that the programmes announced by the government have not been implemented so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Meanwhile, outgoing president of FNCCI Bhavani Rana informed that the current crisis has created unemployment to a great extent and urged the government to address this issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">She said that hundreds of thousands of youths have returned home from above after job cuts and urged the government to capitalize on their expertise by creating job opportunities in order to avoid further crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the programme, FNCCI felicitated Ravi Bhakta Shrestha, Mahesh Lal Pradhan, Binod Chaudary, Padma Jyoti, Pradeep Kumar Shrestha, Binod Bahadur Shrestha, Anand Raj Mulmi, Chandi Raj Dhakal, Suraj Vaidhya, Pashupati Murarka and Pradeep Jung Pandey for their immense contribution to the industrial 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:"Bangla MN"">FNCCI is scheduled to hold the closed session of AGM through virtual medium on Friday (November 27), which will be followed by election on Saturday.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12475', 'image' => '20201127020445_1606433651.Clipboard02 2.jpg', 'article_date' => '2020-11-27 14:02:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12726', 'article_category_id' => '1', 'title' => 'Social Security Fund is also for Helpless Citizens: PM Oli', 'sub_title' => '', 'summary' => 'November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. </span></span></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">Speaking at a function organised by the SSF on the occasion of the Social Security Day on Thursday (November 26), PM Oli said that the concept of social security was developed not only to benefit those who can contribute to the fund but also to protect those who were reeling under poverty and struggling with other problems in the society.</span></span></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">PM Oli said that the government was working toward including the workers of the informal sector within the reach of the Social Security Fund.</span></span></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 added that the government is committed toward achieving social security in its broad term and for giving full support to the concept and taking it ahead in an organised 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">During the function, Minister for Labour, Employment and Social Security Rameshwar Raya Yadav also pledged to bring the workers of informal sector and self-employed individuals within the ambit of social security soon. </span></span></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">President of Nepal Trade Union Congress Pushkar Acharya, President of Hotel Association of Nepal Shrijana Rana and executive director of SSF Kapil Mani Gyawali talked about increasing the effectiveness of the fund.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12474', 'image' => '20201127121735_1606381342.PM_OLI.jpg', 'article_date' => '2020-11-27 12:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12728', 'article_category_id' => '1', 'title' => 'Nepse Sets Historic Record in Share Market', 'sub_title' => '', 'summary' => 'November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. The share market’s index has reached an all time high while the transaction amount is also the highest record till date.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">On Thursday, Nepse index surpassed the previous record of 1881 points to close at 1893. The Nepse index rose by 18.43 points to set the new record. The previous record was set on July 27, 2016.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction was also the highest on Thursday in terms of monetary value. Shares of 201 companies were traded for a record of Rs 7.61 billion. Transaction of 7.18 million units of shares of those 201 companies took place on Thursday.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The number of units traded and the number of times transaction took place were also unprecedented on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">It is estimated that the investors have increased investment expecting a decline in interest rate of banks due to the drop in base rates of banks. Analysts say that the investors have become attracted to the share market as there is no where to invest and they get only two percent interest from saving.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction expert Dilip Munkarmi says that the investors’ confidence has been restored believing that the bearish cycle is over. He, however, believes that the share market is yet to become stable.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12473', 'image' => '20201127025255_1606433377.Clipboard03.jpg', 'article_date' => '2020-11-27 14:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12725', 'article_category_id' => '1', 'title' => 'Supreme Court Decides not to Halt AGM of FNCCI', 'sub_title' => '', 'summary' => 'November 27: The Supreme Court has refused to intervene in the 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.', 'content' => '<p><em>Supreme Court of Nepal. File Photo</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The Supreme Court has refused to intervene in the 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Shiva Shankar Sah, president of Province-2 chapter of FNCCI, had initially filed a complaint with the District Administration Office, Kathmandu seeking annulment of the AGM as well as election arguing that the meeting was being held against the established norms and statute of the organisation. He later filed the writ petition at the apex court stating that the DAO did not respond to his complaint.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The Supreme Court had called for a hearing on the petition on Thursday (November 26), which coincided with the inauguration of the AGM.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">In the initial hearing, a single bench of Justice Purushottam Bhandari refused to issue an interim order to halt the AGM and instead sought clarification from the defendant.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12472', 'image' => '20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2020-11-27 11:54:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12724', 'article_category_id' => '1', 'title' => 'India Pledges to Provide Covid-19 Vaccine to Nepal', 'sub_title' => '', 'summary' => 'November 27: India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 27: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India’s Foreign Secretary Harsh Vardhan Shringla made such remarks during his two-day visit to Nepal. During his meeting with Foreign Minister Pradeep Gyawali, Shringla said that India would definitely provide Covid-19 vaccine after gets available in 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:"Arial Unicode MS"">He said that Nepal-India relations is related to our common culture and civilization and therefore the relation between the two countries will not deteriorate under any circumstances. </span></span></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 Unicode MS"">Shringla handed over 2000 viles of remdisivir medicine to Foreign Minister Gyawaly on behalf of the Government of 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:"Arial Unicode MS"">Shringla will wrap up his two-day official visit to Nepal and return to India later today (November 27).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12471', 'image' => '20201127115408_1606393868.india_corona.jpg', 'article_date' => '2020-11-27 11:53:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12723', 'article_category_id' => '1', 'title' => 'Government Starts Collecting Details of Public Properties', 'sub_title' => '', 'summary' => 'November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.</span></span></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 Financial Comptroller General’s Office, which looks after the government’s income and expenditure, was assigned the duty to collect property details of government units. The office is now preparing to keep the records in electronic medium. </span></span></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">Although the details of public property were kept separately by various bodies, there isn’t any body to keep the records of all the public properties in an integrated 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">The government does not have the details of public properties at a time when the country has already adopted federalism and the provinces and local units have been authorised to use the properties under their jurisdiction at their disposal. Therefore, the Financial Comptroller General’s Office decided to collect the property details.</span></span></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">So far, 2270 government units have already submitted the details of public properties in the Public Property Management System (PPMS) developed by the Financial Comptroller General’s Office.</span></span></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 Deputy Financial Comptroller General Gyanendra Poudel, a total of 1,914 units under the federal government, 288 under the provincial governments and 68 under the local units have submitted their property details. Altogether there are 5000 offices that spend government budget. All of them are required to enter their property details in the system.</span></span></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">Poudel informed that the remaining government units have been issued circulars to submit the property details as soon as possible. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12470', 'image' => '20201126050913_Mahalekha-Niyantrak-financial-comptroller-general-office 2.jpg', 'article_date' => '2020-11-26 17:08:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12722', 'article_category_id' => '1', 'title' => 'Central Bank to Invest Rs 4 Billion in Fixed Deposits of BFIs', 'sub_title' => '', 'summary' => 'November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). The central bank has decided to keep the amount from gratuity and pension funds as fixed deposits from December 16, 2000 till December 15, 2021.</span></span></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 Unicode MS"">NRB will be keeping Rs 3.2 billion in commercial banks. Similarly, Rs 600 million will be kept as fixed deposits in development banks and Rs 200 million in finance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">BFIs interested in depositing the central bank’s money have been informed to submit proposals within 3 pm on November 29 along with the amount they want to keep as well as the interest rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12469', 'image' => '20201126044150_1606327652.Clipboard03.jpg', 'article_date' => '2020-11-26 16:41:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falseinclude - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
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', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The government has become a mute spectator to the hegemony of shipping companies involved in supplying cargoes to Nepal via third countries. The overseas cargo companies providing services in Nepal are yet to get registered in the country. Those companies have been operating in Nepal just because they have been registered in neighbouring 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:"Arial Unicode MS"">As the cargo companies are not registered in Nepal, they have been charging the local importers exorbitantly high fares for their services. Nepali importers say that the government has become a mute spectator to the extortion of foreign shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Government authorities easily avoid this topic saying that the foreign companies are not registered in Nepal.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Although Nepal and India had jointly implemented transshipment model for transport of goods through Indian ports with the objective of reducing the transshipment cost, this has had very little impact on the monopoly of the shipping companies. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Earlier, the importers had been claiming that they have had to incur huge cost due to the charges of customs house agents. But now, they claim that the cost has not reduced because of the arbitrary charges fixed by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Treasurer of Nepal Freight Forward Association Naresh Agrawal says that although there has been some improvements in the process of customs clearance, the conduct of shipping companies has not changed.</span></span></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 Unicode MS"">It is estimated that the transportation cost of landlocked countries worldwide is 20 percent more than the countries that have access to sea ports. However, Nepali importers say that they have to bear 40 percent additional transportation cost. </span></span></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 Unicode MS"">Another importer Pradeep Kedia says that the excessive transportation cost prevented them from benefitting from competitive market. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">The transshipment model has reduced the paperwork but has increased the overall transportation charge.</span></span></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 Unicode MS"">“It is because the shipping companies have been charging fares on electronic cargo tracking system under the transshipment model as per their will,” said 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:"Arial Unicode MS"">Other importers say that the transportation cost has increased by 50 percent after the responsibility of transshipment was taken by the shipping companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">“Earlier, it was the customs house agents who had been charging high fare. But now, the shipping companies are taking the advantage. It’s like jumping from the frying pan into the fire,” said 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:"Arial Unicode MS"">Currently, 21 shipping companies are operating in Nepal. But none of them fall under the purview of law. These companies are operating in the country without registration.</span></span></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 Unicode MS"">The annual transportation cost for overseas trade is estimated to be around Rs 250 billion. Shipping companies are taking advantage of operating their business in Nepal without being registered here.</span></span></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 Unicode MS"">The government can only control the companies that are registered and had pledged to make a separate law for the shipping companies. But there hasn’t been any progress to this end.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12485', 'image' => '20201201022415_1606759926.Clipboard04.jpg', 'article_date' => '2020-12-01 14:23:34', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 1 => array( 'Article' => array( 'id' => '12737', 'article_category_id' => '1', 'title' => 'Tourism Minister says Expansion of Bharatpur Airport has Already Started', 'sub_title' => '', 'summary' => 'December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">December 1: Minister for Culture, Tourism and Civil Aviation Yogesh Bhattarai informed that the expansion of Bharatpur Airport has already begun. Speaking at a discussion program organized at Bharatpur Metropolitan City on Sunday, November 29, Minister Bhattarai informed that the process of expansion of the airport has to move ahead by managing the difficulties and obstacles.</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:"Times New Roman"">He further opined that the expansion of Bharatpur Airport is essential to support the potential of Central Nepal and the development of tourism in the region. Minister Bhattarai also added that the barracks and horse stables of the Nepalese Army situated in the project site will be relocated and an emergency air base of the Nepal Army will be located inside the airport premises without affecting the master plan of the airport.</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:"Times New Roman"">Stating that the Bharatpur Airport is in danger at the current situation, he stressed on the need for the Bharatpur Municipal Corporation to demolish the physical infrastructure built against the standards. “Everyone should have positive attitude and support for the construction of the airport,” he added.</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:"Times New Roman"">Bharatpur Metropolitan City’s Mayor Renu Dahal informed that the municipality office aims to make Bharatpur Airport well-organized and well-equipped with night flight service. "The expansion and development of the airport will significantly contribute to the overall development of Chitwan and surrounding districts," she added.</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:"Times New Roman"">Chief of Bharatpur Airport Yogendra Kunwar stressed on the need to expedite the expansion work of the airport which has been stalled for a long time. </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:"Times New Roman"">Director General of the Civil Aviation Department Rajan Pokharel, Director of the Department of Aviation Engineering Pradip Adhikari, battalion commander of Kali Bahadur Battalion Bigyan Dev Khanal and others also expressed their views at the program.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12484', 'image' => '20201201014452_20201011111501_yogesh_bhattarai.jpg', 'article_date' => '2020-12-01 13:44:21', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 2 => array( 'Article' => array( 'id' => '12736', 'article_category_id' => '1', 'title' => 'Supreme Court Halts Tender Process to Print Excise Duty Stickers', 'sub_title' => '', 'summary' => 'December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: The Supreme Court has issued an interim order to halt the tender process called by the Inland Revenue Department to print excise duty stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">A single bench of Justice Tej Bahadur KC issued the order responding on a writ petition filed by Mohan Raj Ghimire on behalf of Miraj Printing. </span></span></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 Unicode MS"">The apex court order has put on hold the tender process called by the IRD on October 14 seeking international bids for printing the stickers. The department had called for international companies to submit their proposals within November 29.</span></span></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 Unicode MS"">Ghimire had filed the petition stating that the IRD issued the tender by including clauses which Nepali companies could not fulfill, and therefore the decision was biased. The Supreme Court stated that even the Public Procurement Act has a provision under which tender bids called by government should be favourable for the local companies. The court demanded written explanation from the IRD within 15 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:"Arial Unicode MS"">The interim order says that the tender issued by IRD on October 14 has nothing new except one clause which says interested companies should have Intergraph or ISO certificate 14298 instead of Intergraph or ISO certificate 14289, and therefore the tender contradicts the precedent set by the SC on February 24, 2020. In this context, the Supreme Court has ordered the IRD not to move ahead with any of the process related to printing the excise duty stickers until the final decision is taken.</span></span></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 Unicode MS"">Nepali companies argue that the tender favours foreign companies and that the local contractors don’t stand a chance to land the contract as per the criteria fixed in the tender.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">Last year, the Supreme Court had ordered the government to launch a study on the capacity of Nepali companies to render their services and to create an environment in which the domestic companies could prove their competitiveness so that the government could promote and protect the local companies in order to make the country’s economy strong and self reliant.</span></span></span></span></p> <p> </p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12483', 'image' => '20201201122429_1606693544.Clipboard09.jpg', 'article_date' => '2020-12-01 12:23:45', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 3 => array( 'Article' => array( 'id' => '12735', 'article_category_id' => '1', 'title' => 'Newly Elected FNCCI Members Take Oath of Office', 'sub_title' => '', 'summary' => 'December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">December 1: Newly elected president of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) Shekhar Golchha and other executive members took oath of office and secrecy on Sunday (November 29).</span></span></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 Unicode MS"">Outgoing president Bhavani Rana administered oath to Golchha as per the provision of FNCCI, which mandates the senior vice president to lead the federation after completing one term.</span></span></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 Unicode MS"">Meanwhile, Golchha administered oath of office to other newly elected members.</span></span></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 Unicode MS"">During the function, Golchha said that he would move ahead by taking all factions into confidence. He stressed on the need of unity among all stakeholders and made a commitment to take all factions of FNCCI on board while implementing the strategy prepared by him for nation building.</span></span></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 Unicode MS"">Meanwhile, newly elected senior vice president Chandra Dhakal said that the ideological disputes among FNCCI members have now come to an end after the successful conclusion of the election. He said that he work in collaboration with President Golchha’s panel for taking the private sector ahead.</span></span></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 Unicode MS"">Dhakal will have to work with Golchha, who was openly backed by his opponent Kishor Pradhan during the recent election held on the occasion of the 54<sup>th</sup> Annual General Meeting of 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 Unicode MS"">Dhakal said that although there were different panels ahead of the election, all sides have to unite and move ahead now for the betterment of the private sector. He pledged to increase commercial activities to attain financial prosperity.</span></span></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 Unicode MS"">Besides Dhakal, other three vice presidents also pledged to unite together for future course of action.</span></span></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 Unicode MS"">Vice President (associates) Ram Chandra Shanghai pledged to work for the welfare of workers and stressed on increasing production and export.</span></span></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 Unicode MS"">Similarly, vice president (commodities) Anjan Shrestha said he would take a lead role for ensuring the rights of the private sector. Likewise, vice president (district/municipalities) Dinesh Shrestha made a commitment to increase the activities of Small and Medium Scale Enterprises (SMEs).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-12-01', 'modified' => '2020-12-01', 'keywords' => '', 'description' => '', 'sortorder' => '12482', 'image' => '20201201110207_1606693683.Clipboard04.jpg', 'article_date' => '2020-12-01 11:01:36', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 4 => array( 'Article' => array( 'id' => '12733', 'article_category_id' => '1', 'title' => 'JEMC Starts Printing Excise Duty Stickers', 'sub_title' => '', 'summary' => 'November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 29: Excise duty stickers used for cigarettes and liquor are being printed extensively within the country as the government is running out of stock. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">A total of 5 million stickers are being printed on a daily basis, according to the state-owned printing press Janak Education Materials Limited (JEMC) which has been awarded the contract to print the stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">JEMC has been assigned to print 700 million pieces of excise duty stickers in the current 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:Arial">Officials at JEMC say that they have increased the rate of printing stickers as per the demand of the Inland Revenue Department.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">“We started printing immediately after Tihar. We have managed everything for printing the excise duty stickers,” said Mahesh Prasad Timilsina, director general of JEMC.</span></span></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 finance ministry had decided to hand over the responsibility of printing the excise duty stickers to JEMC for the time being to meet the requirement for 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:Arial">The IRD was under pressure to print the stickers within the country because the process of issuing global tender would be time consuming and would have resulted in shortage of stickers.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Meanwhile, the IRD has initiated the process to call international tender for printing an additional 9 billion excise duty stickers abroad.</span></span></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">Last year, when the government had initiated the process of calling tender for international bids, Miraj Printing Solution had filed a writ petition at the Supreme Court stating that the local companies had been deprived of participating in the bidding process.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">Following the writ petition filed by Mohan Raj Ghimire, the apex court had ordered the government to open tender bids for domestic companies by considering their capacity to print.</span></span></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">Director General of IRD argues that all domestic companies that meet the criteria can also apply for the international bidding process.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12480', 'image' => '20201129034130_20200707042111_Excise duty stickers.jpg', 'article_date' => '2020-11-29 15:41:01', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 5 => array( 'Article' => array( 'id' => '12732', 'article_category_id' => '1', 'title' => 'Solar Plant to be Installed in Gautam Buddha International Airport', 'sub_title' => '', 'summary' => 'November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. ', 'content' => '<p><span style="font-size:12pt"><span style="font-family:Cambria"><span style="font-size:14.0pt"><span style="font-family:"Times New Roman"">November 29: A solar plant will be installed at the Gautam Buddha International Airport, which is currently under construction at Bhairahawa in Rupandehi. The airport project office is preparing to build a solar plant inside the under construction airport premises with the objective of generating required electricity to operate the airport through the plant.</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:"Times New Roman"">Discussions have already started between the Ministry of Energy, Water Resources and Irrigation and the Ministry of Culture, Tourism and Civil Aviation on setting up a solar plant at the airport to supply electricity. In the first phase, a discussion was held between the ministers and other representatives of the two ministries at the Ministry of Energy last Friday, November 27.</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:"Times New Roman"">Ministers Barshaman Pun and Yogesh Bhattarai, Tourism Secretary Yadav Prasad Koirala, Acting Secretary at the Ministry of Energy Praveen Raj Aryal, Joint Secretary Madhu Prasad Bhetwal, Acting Executive Director of the Electricity Authority Hitendra Dev Shakya and officials of the Civil Aviation Authority of Nepal attended the meeting to discuss the matter.</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:"Times New Roman"">The meeting directed the two ministries and the authority to prepare a detailed blueprint for the establishment of the solar plant and submit it to the ministers within a year’s time.</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:"Times New Roman"">A 10 MW capacity solar plant will be operated on the vacant land of Bhairahawa Airport premises with the assistance of the Asian Development Bank.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12479', 'image' => '20201129030718_1606605742.Clipboard04.jpg', 'article_date' => '2020-11-29 15:06:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 6 => array( 'Article' => array( 'id' => '12731', 'article_category_id' => '1', 'title' => 'Banking Fraud on the Rise', 'sub_title' => '', 'summary' => 'November 29: Cases of banking fraud have been increasing in Nepal every year.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 29: Cases of banking fraud have been increasing in Nepal every year. A total of 8,011 cases of banking fraud have been reported in the country since the last five years. </span></span></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 Unicode MS"">Banking fraud includes check bounce, deceit, conspiracy and misuse of online transaction. </span></span></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 Unicode MS"">According to the Police Headquarters, altogether 46 cases of banking fraud were reported in fiscal year 2015/16 across the country. The number of such cases has been rising every year since then.</span></span></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 Unicode MS"">In FY 2016/17, a total of 93 cases related to banking fraud were reported while the number rose to 776 in FY 2017/18. In FY 2018/19, the number of banking fraud skyrocketed to 3,167 while FY 2019/20 witnessed a total of 3,309 cases of banking fraud. Six hundred and twenty eight cases of banking fraud have been reported in the first four months 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:"Arial Unicode MS"">The Banking Offence and Punishment Act (first amendment) 2073 prohibits unauthorized loan disbursement, unauthorized opening of bank account or payment of money, abuse of electronic means of transaction or unauthorized used of electronic payment, misuse of loan, misuse of banking resources and property. </span></span></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 Unicode MS"">Of late, there has been a rise in instances of cheque bounce.</span></span></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 Unicode MS"">SSP Kuber Kadayat, spokesperson of Nepal Police, says that the rise in number of banking fraud cases is due to an increase in incidents of cheque bounce.</span></span></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 Unicode MS"">“Banking fraud also takes place through internet and online medium. The number of cases related to banking and finance sector has increased,” said SSP Kadayat, adding, “The major reasons for this is the ambition to earn quick money, big aspirations, and rapid urbanization.”</span></span></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 Unicode MS"">It has been found that many instances of banking fraud take place in collusion with the staffers of banks. SSP Kadayat added that most of the offenders have already been booked.</span></span></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 Unicode MS"">Recent studies have revealed that there has been a rise in cases of banking offence with the use of technology and most of the offenders are not involved in the crime directly, said SSP Kadayat.</span></span></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 Unicode MS"">The Central Investigation Bureau (CIB) has been investigation complicated cases of banking fraud. Last month, the CIB arrested around half a dozen people on charges of banking fraud.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12478', 'image' => '20201129015436_QT-banking-fraud.jpg', 'article_date' => '2020-11-29 13:53:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 7 => array( 'Article' => array( 'id' => '12730', 'article_category_id' => '1', 'title' => 'Chandra Dhakal Elected Senior Vice President of FNCCI', 'sub_title' => '', 'summary' => 'November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">November 29: Chandra Prasad Dhakal has been elected as the senior vice president 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">Dhakal defeated his rival Kishor Pradhan to secure the coveted post, which, according to the FNCCI statute, ensures that he will lead the umbrella body of industries and entrepreneurs in the next term. The newly elected senior vice president Dhakal will take the helm of FNCCI from Sekhar Golchha, who will now take charge of the new executive committee.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">According to the election committee of FNCCI, Dhakal secured an overall 54.26 percent votes against 45.74 percent received by Pradhan during the election held on the occasion of the 54<sup>th</sup> Annual General meeting of FNCCI on November 28.</span></span></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">In the associate section, which holds 30 percent of vote weightage, Dhakal secured 522 votes while Pradhan garnered only 375 votes. Likewise in the commodities section, Dhakal bagged 59 votes against 39 of Pradhab. The commodities section carries 20 percent of vote weightage. Similarly, in the district and municipal section, which carries a total of 50 percent vote weightage, the two contestants had a close competition with Pradhan defeating Dhakal by a margin of just one vote. Pradhan secured 53 votes while Dhakal received 52.</span></span></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">Meanwhile Anjan Shrestha won the election in the commodities section while Dinesh Shrestha secured victory in the district and municipal section. Both of them belong to Pradhan’s panel.</span></span></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">Anjan Shrestha garnered 62 votes to defeat his competitor Umesh Lal Pradhan, who secured 37 votes.</span></span></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">Likewise, Dinesh Shrestha bagged 58 votes against 47 received by his contestant Guna Nidhi Tiwari.</span></span></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">In the associates section, Ram Chandra Shanghai of Dhakal panel secured victory. Shanghai secured 455 votes while his competitor Saurav Jyoti received 434 votes.</span></span></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">Rajan Shrestha, Taranath Adhikari, Kamal Kumar Shrestha, Chakra Bahadur Adhikari, Arun Raj Sumargi, Dev Kumar Shrestha, Rameshwar manandhar, Shovakanta Poudel, Sur Krishna Baidhya, Gajendra Bhagat, Kuber Kumar Shrestha and Kaman Bahadur Khadka have been elected to the executive committee of the associate section.</span></span></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">Similarly, Gopal Kedia, Mahendra Kumar Shrestha, Kamal Kumar Shrestha, Umesh Dalmia and Kishor Kumar Acharya also secured victory in the election.</span></span></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">Newly elected Senior Vice President Dhakal is the chairman of IME Group which runs Global IME Bank, IME General Insurance, IME Life Hathway Investment, IME Cooperatives, Chandragiri Hills, IME Automotives and is also involved in various other businesses.</span></span></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">After his election victory, Dhakal pledged to work together with all factions of FNCCI to make the federation stronger. Speaking with reporters after the election, Dhakal said that the existence of different panels has come to and end with the completion of the election. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-29', 'modified' => '2020-11-29', 'keywords' => '', 'description' => '', 'sortorder' => '12477', 'image' => '20201129114440_1606605443.jpg', 'article_date' => '2020-11-29 11:43:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 8 => array( 'Article' => array( 'id' => '12727', 'article_category_id' => '1', 'title' => 'PM Oli says Private Sector can Contribute more that the Government ', 'sub_title' => '', 'summary' => 'November 27: The 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industry (FNCCI), which was disrupted for a long time due to coronavirus, has finally kicked off. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Prime Minister KP Sharma Oli along with office bearers of FNCCI inaugurated the AGM through a virtual medium from the prime minister’s official residence in Baluwatar on Thursday (November 26). </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the inauguration, PM Oli praised the effort made by the private sector to uplift the country’s economy that has been badly affected by the pandemic. He said that the contributions made by the business sector and entrepreneurs during this difficult time was highly commendable.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He was of the view that the government and private sector together can revitalize the economy at a time when the economic growth has become less than what was projected due to the impact of 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:"Bangla MN"">PM Oli said that the private sector can do much more than the government to uplift the economy and therefore the government is ever ready to promote the private sector.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">PM Oli also stressed on moderinizing the agriculture sector, and moving ahead toward industrialization and commercialization. But he expressed sadness that instead of achieving those dreams, the country’s industries were investing abroad.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">“The government is ready to provide any kind of support to create a conducive environment for expansion of business and industries,” he said.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Representatives of FNCCI responded to the PM’s appeal by saying that the government needs to immediately announce Covid-19 recovery programme to provide relief to the sectors affected by the 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:"Bangla MN"">Speaking at the programme, Senior Vice President of FNCCI Shekhar Golchha, who is poised to lead the umbrella body of industries and entrepreneurs from the upcoming term, said that although the topics included in the annual budget and the monetary policy are positive, the government must bring a special programme for Covid-19 recovery.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">He also urged the government to immediately implement the programmes announced by the government to support the sectors affected by Covid-19. He added that the programmes announced by the government have not been implemented so far.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Meanwhile, outgoing president of FNCCI Bhavani Rana informed that the current crisis has created unemployment to a great extent and urged the government to address this issue.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">She said that hundreds of thousands of youths have returned home from above after job cuts and urged the government to capitalize on their expertise by creating job opportunities in order to avoid further crisis.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">During the programme, FNCCI felicitated Ravi Bhakta Shrestha, Mahesh Lal Pradhan, Binod Chaudary, Padma Jyoti, Pradeep Kumar Shrestha, Binod Bahadur Shrestha, Anand Raj Mulmi, Chandi Raj Dhakal, Suraj Vaidhya, Pashupati Murarka and Pradeep Jung Pandey for their immense contribution to the industrial 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:"Bangla MN"">FNCCI is scheduled to hold the closed session of AGM through virtual medium on Friday (November 27), which will be followed by election on Saturday.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12475', 'image' => '20201127020445_1606433651.Clipboard02 2.jpg', 'article_date' => '2020-11-27 14:02:53', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => false, 'user_id' => '34' ) ), (int) 9 => array( 'Article' => array( 'id' => '12726', 'article_category_id' => '1', 'title' => 'Social Security Fund is also for Helpless Citizens: PM Oli', 'sub_title' => '', 'summary' => 'November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 27: The Social Security Fund (SSF) has been implemented to include hapless citizens within the folds of social security, said Prime Minister KP Sharma Oli. </span></span></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">Speaking at a function organised by the SSF on the occasion of the Social Security Day on Thursday (November 26), PM Oli said that the concept of social security was developed not only to benefit those who can contribute to the fund but also to protect those who were reeling under poverty and struggling with other problems in the society.</span></span></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">PM Oli said that the government was working toward including the workers of the informal sector within the reach of the Social Security Fund.</span></span></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 added that the government is committed toward achieving social security in its broad term and for giving full support to the concept and taking it ahead in an organised 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">During the function, Minister for Labour, Employment and Social Security Rameshwar Raya Yadav also pledged to bring the workers of informal sector and self-employed individuals within the ambit of social security soon. </span></span></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">President of Nepal Trade Union Congress Pushkar Acharya, President of Hotel Association of Nepal Shrijana Rana and executive director of SSF Kapil Mani Gyawali talked about increasing the effectiveness of the fund.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12474', 'image' => '20201127121735_1606381342.PM_OLI.jpg', 'article_date' => '2020-11-27 12:16:52', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 10 => array( 'Article' => array( 'id' => '12728', 'article_category_id' => '1', 'title' => 'Nepse Sets Historic Record in Share Market', 'sub_title' => '', 'summary' => 'November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: Nepal Stock Exchange (Nepse) set a new record on Thursday (November 26) at a time when the country’s economy is reeling under the impact of coronavirus. The share market’s index has reached an all time high while the transaction amount is also the highest record till date.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">On Thursday, Nepse index surpassed the previous record of 1881 points to close at 1893. The Nepse index rose by 18.43 points to set the new record. The previous record was set on July 27, 2016.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction was also the highest on Thursday in terms of monetary value. Shares of 201 companies were traded for a record of Rs 7.61 billion. Transaction of 7.18 million units of shares of those 201 companies took place on Thursday.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The number of units traded and the number of times transaction took place were also unprecedented on the same day.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">It is estimated that the investors have increased investment expecting a decline in interest rate of banks due to the drop in base rates of banks. Analysts say that the investors have become attracted to the share market as there is no where to invest and they get only two percent interest from saving.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Share transaction expert Dilip Munkarmi says that the investors’ confidence has been restored believing that the bearish cycle is over. He, however, believes that the share market is yet to become stable.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12473', 'image' => '20201127025255_1606433377.Clipboard03.jpg', 'article_date' => '2020-11-27 14:52:24', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 11 => array( 'Article' => array( 'id' => '12725', 'article_category_id' => '1', 'title' => 'Supreme Court Decides not to Halt AGM of FNCCI', 'sub_title' => '', 'summary' => 'November 27: The Supreme Court has refused to intervene in the 54th Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.', 'content' => '<p><em>Supreme Court of Nepal. File Photo</em></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">November 27: The Supreme Court has refused to intervene in the 54<sup>th</sup> Annual General Meeting of the Federation of Nepalese Chambers of Commerce and Industries (FNCCI) as demanded by a petitioner.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">Shiva Shankar Sah, president of Province-2 chapter of FNCCI, had initially filed a complaint with the District Administration Office, Kathmandu seeking annulment of the AGM as well as election arguing that the meeting was being held against the established norms and statute of the organisation. He later filed the writ petition at the apex court stating that the DAO did not respond to his complaint.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">The Supreme Court had called for a hearing on the petition on Thursday (November 26), which coincided with the inauguration of the AGM.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Bangla MN"">In the initial hearing, a single bench of Justice Purushottam Bhandari refused to issue an interim order to halt the AGM and instead sought clarification from the defendant.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12472', 'image' => '20201127115547_20200417094838_CKC_ktm.jpg', 'article_date' => '2020-11-27 11:54:46', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 12 => array( 'Article' => array( 'id' => '12724', 'article_category_id' => '1', 'title' => 'India Pledges to Provide Covid-19 Vaccine to Nepal', 'sub_title' => '', 'summary' => 'November 27: India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Devanagari Sangam MN"">November 27: </span></span><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India has once again reiterated its pledge to provide health equipment and medical kits as well as vaccine against Covid-19 to Nepal. </span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">India’s Foreign Secretary Harsh Vardhan Shringla made such remarks during his two-day visit to Nepal. During his meeting with Foreign Minister Pradeep Gyawali, Shringla said that India would definitely provide Covid-19 vaccine after gets available in 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:"Arial Unicode MS"">He said that Nepal-India relations is related to our common culture and civilization and therefore the relation between the two countries will not deteriorate under any circumstances. </span></span></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 Unicode MS"">Shringla handed over 2000 viles of remdisivir medicine to Foreign Minister Gyawaly on behalf of the Government of 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:"Arial Unicode MS"">Shringla will wrap up his two-day official visit to Nepal and return to India later today (November 27).</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-27', 'modified' => '2020-11-27', 'keywords' => '', 'description' => '', 'sortorder' => '12471', 'image' => '20201127115408_1606393868.india_corona.jpg', 'article_date' => '2020-11-27 11:53:30', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 13 => array( 'Article' => array( 'id' => '12723', 'article_category_id' => '1', 'title' => 'Government Starts Collecting Details of Public Properties', 'sub_title' => '', 'summary' => 'November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:Arial">November 26: The government has collected property details worth Rs 41 billion of 2,300 government bodies.</span></span></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 Financial Comptroller General’s Office, which looks after the government’s income and expenditure, was assigned the duty to collect property details of government units. The office is now preparing to keep the records in electronic medium. </span></span></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">Although the details of public property were kept separately by various bodies, there isn’t any body to keep the records of all the public properties in an integrated 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">The government does not have the details of public properties at a time when the country has already adopted federalism and the provinces and local units have been authorised to use the properties under their jurisdiction at their disposal. Therefore, the Financial Comptroller General’s Office decided to collect the property details.</span></span></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">So far, 2270 government units have already submitted the details of public properties in the Public Property Management System (PPMS) developed by the Financial Comptroller General’s Office.</span></span></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 Deputy Financial Comptroller General Gyanendra Poudel, a total of 1,914 units under the federal government, 288 under the provincial governments and 68 under the local units have submitted their property details. Altogether there are 5000 offices that spend government budget. All of them are required to enter their property details in the system.</span></span></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">Poudel informed that the remaining government units have been issued circulars to submit the property details as soon as possible. </span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12470', 'image' => '20201126050913_Mahalekha-Niyantrak-financial-comptroller-general-office 2.jpg', 'article_date' => '2020-11-26 17:08:44', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ), (int) 14 => array( 'Article' => array( 'id' => '12722', 'article_category_id' => '1', 'title' => 'Central Bank to Invest Rs 4 Billion in Fixed Deposits of BFIs', 'sub_title' => '', 'summary' => 'November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). ', 'content' => '<p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">November 26: Nepal Rastra Bank is preparing to invest Rs 4 billion in fixed deposits of banks and financial institutions (BFIs). The central bank has decided to keep the amount from gratuity and pension funds as fixed deposits from December 16, 2000 till December 15, 2021.</span></span></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 Unicode MS"">NRB will be keeping Rs 3.2 billion in commercial banks. Similarly, Rs 600 million will be kept as fixed deposits in development banks and Rs 200 million in finance companies.</span></span></span></span></p> <p><span style="font-size:10pt"><span style="font-family:Times"><span style="font-size:14.0pt"><span style="font-family:"Arial Unicode MS"">BFIs interested in depositing the central bank’s money have been informed to submit proposals within 3 pm on November 29 along with the amount they want to keep as well as the interest rate.</span></span></span></span></p> <p> </p> ', 'published' => true, 'created' => '2020-11-26', 'modified' => '2020-11-26', 'keywords' => '', 'description' => '', 'sortorder' => '12469', 'image' => '20201126044150_1606327652.Clipboard03.jpg', 'article_date' => '2020-11-26 16:41:14', 'homepage' => false, 'breaking_news' => false, 'main_news' => true, 'in_scroller' => null, 'user_id' => '34' ) ) ) $current_user = null $logged_in = false $xml = falsesimplexml_load_file - [internal], line ?? include - APP/View/Elements/side_bar.ctp, line 133 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::_renderElement() - CORE/Cake/View/View.php, line 1224 View::element() - CORE/Cake/View/View.php, line 418 include - APP/View/Articles/index.ctp, line 157 View::_evaluate() - CORE/Cake/View/View.php, line 971 View::_render() - CORE/Cake/View/View.php, line 933 View::render() - CORE/Cake/View/View.php, line 473 Controller::render() - CORE/Cake/Controller/Controller.php, line 968 Dispatcher::_invoke() - CORE/Cake/Routing/Dispatcher.php, line 200 Dispatcher::dispatch() - CORE/Cake/Routing/Dispatcher.php, line 167 [main] - APP/webroot/index.php, line 117
| Currency | Unit |
Buy | Sell |
| U.S. Dollar | 1 | 121.23 | 121.83 |
| European Euro | 1 | 131.65 | 132.31 |
| UK Pound Sterling | 1 | 142.47 | 143.18 |
| Swiss Franc | 1 | 124.29 | 124.90 |
| Australian Dollar | 1 | 71.69 | 72.05 |
| Canadian Dollar | 1 | 83.90 | 84.32 |
| Japanese Yen | 10 | 10.94 | 11.00 |
| Chinese Yuan | 1 | 17.17 | 17.26 |
| Saudi Arabian Riyal | 1 | 32.27 | 32.43 |
| UAE Dirham | 1 | 33.01 | 33.17 |
| Malaysian Ringgit | 1 | 27.36 | 27.50 |
| South Korean Won | 100 | 9.77 | 9.82 |
Update: 2020-03-25 | Source: Nepal Rastra Bank (NRB)
| Fine Gold | 1 tola | 77000.00 |
| Tejabi Gold | 1 tola | 76700.00 |
| Silver | 1 tola | 720.00 |
Update : 2020-03-25
Source: Federation of Nepal Gold and Silver Dealers' Association
| Petrol | 1 Liter | 106.00 |
| Diesel | 1 Liter | 95.00 |
| Kerosene | 1 Liter | 95.00 |
| LP Gas | 1 Cylinder | 1375.00 |
Update : 2020-03-25
